Document:

Stock Purchase Agreement, dated November 28, 2006

 Exhibit 10.01 
 STOCK PURCHASE AGREEMENT 
 between 
 Gerald Hehenberger Privatstiftung 
 and 
 American Superconductor Corporation 

 TABLE OF CONTENTS 
  

							
	Section	  	 	  	Page
		
	 ARTICLE I PURCHASE AND SALE OF THE SHARES
	  	1
		  	1.1.	  	Purchase of the Shares from the Trust	  	1
		  	1.2.	  	Further Assurances	  	1
		  	1.3.	  	Purchase Price	  	1
		  	1.4.	  	The Closing	  	2
		  	1.5.	  	Earnout; Additional Purchase Price	  	2
		
	 ARTICLE II REPRESENTATIONS OF THE TRUST REGARDING THE TRUST
	  	5
		  	2.1.	  	Due Organization	  	5
		  	2.2.	  	Title	  	5
		  	2.3.	  	Authority	  	5
		  	2.4.	  	Noncontravention	  	5
		  	2.5.	  	Regulatory Approvals	  	6
		  	2.6.	  	Brokers	  	6
		  	2.7.	  	Investment Representation	  	6
		
	 ARTICLE III REPRESENTATIONS OF THE TRUST REGARDING THE COMPANY
	  	6
		  	3.1.	  	Organization, Qualification and Corporate Power	  	6
		  	3.2.	  	Capitalization	  	7
		  	3.3.	  	Subsidiaries	  	7
		  	3.4.	  	Financial Statements	  	7
		  	3.5.	  	Absence of Certain Changes	  	8
		  	3.6.	  	Undisclosed Liabilities	  	8
		  	3.7.	  	Tax Matters	  	8
		  	3.8.	  	Assets	  	9
		  	3.9.	  	Owned Real Property	  	9
		  	3.10.	  	Real Property Leases	  	9
		  	3.11.	  	Intellectual Property	  	10
		  	3.12.	  	Inventory	  	13
		  	3.13.	  	Contracts	  	13
		  	3.14.	  	Accounts Receivable	  	14
		  	3.15.	  	Powers of Attorney	  	15
		  	3.16.	  	Insurance	  	15
		  	3.17.	  	Litigation	  	15
		  	3.18.	  	Warranties	  	15
		  	3.19.	  	Employees	  	15
		  	3.20.	  	Employee Benefits	  	16
		  	3.21.	  	Environmental Matters	  	17
		  	3.22.	  	Legal Compliance	  	17
		  	3.23.	  	Customers and Suppliers	  	17
		  	3.24.	  	Permits	  	17
		  	3.25.	  	Certain Business Relationships With Affiliates	  	18
		  	3.26.	  	Brokers’ Fees	  	18

  

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		  	3.27.	  	Books and Records	  	18
		  	3.28.	  	Disclosure	  	18
		
	 ARTICLE IV REPRESENTATIONS OF THE BUYER
	  	18
		  	4.1.	  	Organization, Qualification and Corporate Power	  	18
		  	4.2.	  	Authorization of Transaction	  	18
		  	4.3.	  	Noncontravention	  	19
		  	4.4.	  	Brokers’ Fees	  	19
		  	4.5.	  	Investment Representation	  	19
		  	4.6.	  	Capitalization	  	19
		  	4.7.	  	Reports and Financial Statements	  	19
		  	4.8.	  	Disclosure	  	20
		
	 ARTICLE V COVENANTS
	  	20
		  	5.1.	  	Closing Efforts	  	20
		  	5.2.	  	Governmental and Third-Party Notices and Consents	  	20
		  	5.3.	  	Operation of Business	  	21
		  	5.4.	  	Access to Information	  	22
		  	5.5.	  	Exclusivity	  	22
		  	5.6.	  	Expenses	  	23
		  	5.7.	  	S-X Financial Statements	  	23
		
	 ARTICLE VI CONDITIONS TO OBLIGATIONS OF THE PARTIES
	  	23
		  	6.1.	  	Conditions to Obligations of the Buyer	  	23
		  	6.2.	  	Conditions to Obligations of the Trust	  	25
		
	 ARTICLE VII INDEMNIFICATION
	  	25
		  	7.1.	  	Indemnification by the Trust	  	25
		  	7.2.	  	Indemnification by the Buyer	  	26
		  	7.3.	  	Indemnification Claims	  	26
		  	7.4.	  	Survival of Representations and Warranties	  	28
		  	7.5.	  	Limitations	  	28
		  	7.6.	  	Holdback Provisions	  	29
		
	 ARTICLE VIII POST-CLOSING AGREEMENTS
	  	30
		  	8.1.	  	Proprietary Information	  	30
		
	 ARTICLE IX REGISTRATION RIGHTS
	  	30
		  	9.1.	  	Registration of Shares	  	30
		  	9.2.	  	Limitations on Registration Rights	  	31
		  	9.3.	  	Registration Procedures	  	31
		  	9.4.	  	Requirements of Trust	  	32
		  	9.5.	  	Indemnification	  	32
		  	9.6.	  	Assignment of Rights	  	32
		  	9.7.	  	Limitations on Sale	  	32
		  	9.8.	  	Buyer Obligations Concerning Rule 144	  	33

  

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	 ARTICLE X TERMINATION
	  	33
		  	10.1.	  	Termination of Agreement	  	33
		  	10.2.	  	Effect of Termination	  	34
		
	 ARTICLE XI DEFINITIONS
	  	34
		
	 ARTICLE XII MISCELLANEOUS
	  	41
		  	12.1.	  	Press Releases and Announcements	  	41
		  	12.2.	  	Notices	  	41
		  	12.3.	  	Successors and Assigns	  	42
		  	12.4.	  	Entire Agreement; Amendments; Attachments	  	43
		  	12.5.	  	Severability	  	43
		  	12.6.	  	No Third Party Beneficiaries	  	43
		  	12.7.	  	Governing Law	  	43
		  	12.8.	  	Arbitration	  	43
		  	12.9.	  	Attorneys’ Fees	  	43
		  	12.10.	  	Section Headings	  	43
		  	12.11.	  	Counterparts and Facsimile Signature	  	43

 Schedule 1.5(b) 
  

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 STOCK PURCHASE AGREEMENT 
 Agreement (the “Agreement”) entered into as of November 28, 2006 by and between American Superconductor Corporation, a Delaware corporation (the “Buyer”), and Gerald Hehenberger Privatstiftung, a
trust incorporated according to the laws of Austria (the “Trust”), which owns all of the issued and outstanding nominal share capital of Windtec Consulting GmbH, a corporation incorporated according to the laws of Austria (the
“Company”). 
 Preliminary Statement 
 1. The Trust owns all of the issued and outstanding shares of the Company (the “Shares”). 
 2. The
Buyer desires to purchase, and the Trust desires to sell, the Shares for the consideration set forth below, subject to the terms and conditions of this Agreement. 
 NOW, THEREFORE, in consideration of the representations, warranties and covenants herein contained, the Parties agree as follows: 
 ARTICLE I 
 PURCHASE AND SALE OF THE SHARES 
 1.1. Purchase of the Shares from the Trust. Subject to and upon the terms and conditions of this Agreement, at the Closing the Trust shall sell,
transfer, convey, assign and deliver to the Buyer, and the Buyer shall purchase, acquire and accept from the Trust, all of the Shares. 
 1.2. Further Assurances. At any time and from time to time after the Closing, at the Buyer’s request and without further consideration, the Trust shall promptly execute and deliver such instruments of sale, transfer, conveyance,
assignment and confirmation, and take all such other action as the Buyer may reasonably request, to transfer, convey and assign to the Buyer, and to confirm the Buyer’s title to, all of the Shares, to put the Buyer in actual possession and
operating control of the assets, properties and business of the Company, to assist the Buyer in exercising all rights with respect thereto and to carry out the purpose and intent of this Agreement. 
 1.3. Purchase Price. The purchase price to be paid by the Buyer to the Trust for the Shares shall be One Million Three Hundred Thousand
(1,300,000) shares of Buyer Common Stock (the “Closing Buyer Shares”) plus any additional amounts payable pursuant to Section 1.5 (the “Performance Shares,” and collectively with the Closing Buyer Shares,
the “Buyer Shares”). 
  

 1.4. The Closing. The Closing shall take place at the offices of Wolf Theiss Rechtsanwälte
GmbH, Schubertring 6, 1010 Vienna, commencing at 9:00 a.m., local time, on the later of January 5, 2007 and the date that is two business days after the satisfaction or waiver of all the conditions to the obligations of the Parties to
consummate the transactions contemplated by this Agreement (excluding the delivery at the Closing of any of the documents set forth in Article VI) (such date, the “Closing Date”). At the Closing: 
 (a) the Trust and the Buyer shall execute, through duly authorized representatives, a closing statement in the form of notarial deed incorporated herein,
confirming that the Closing has occurred and that this Agreement has become effective; 
 (b) the Buyer shall deliver to the Trust a
certificate for the Closing Buyer Shares registered in the name of the Trust and recorded on the stock transfer ledger of the Buyer; and 
 (c) the Buyer and the Trust shall deliver, or cause to be delivered, the other documents and instruments required under Article VI. 
 1.5. Earnout; Additional Purchase Price. 
 (a) Earnout Years. The Buyer shall make additional payments to the Trust of
shares of Buyer Common Stock based upon the Revenue and the Revenue Objective of the Company during each year in the four-year period commencing with the fiscal year ending March 31, 2008. Each of the following one-year periods shall be
referred to herein as follows: (i) the 12-month period ending March 31, 2008 shall be referred to as “Year 1”; (ii) the 12-month period ending March 31, 2009 shall be referred to as “Year 2”;
(iii) the 12-month period ended March 31, 2010 shall be referred to as “Year 3”; and (iv) the 12-month period ended March 31, 2011 shall be referred to as “Year 4.” Each of Year 1, Year 2, Year 3
and Year 4 is referred to as an “Earnout Year.” 
 (b) Definitions. 
 (i) “Revenue” means the consolidated revenue recognized by the Company and its Subsidiaries from all sources and the consolidated
revenue recognized by Buyer and its Subsidiaries from the engineering, licensing and component delivery and after-sales support relating to wind energy converters incorporated into the Company’s wind turbine design (i.e., comprising rotor,
nacelle, tower, foundation, and low/medium voltage transformer station) and wind turbine components incorporating the Company’s Intellectual Property, technology or know-how in a given Earnout Year, as determined in accordance with US GAAP
applied by the Buyer in a manner consistent with the application of such principles in other parts of the Buyer’s business. 
 (ii)
“Revenue Objective” means the amounts set forth on Schedule 1.5(b) attached hereto. 
 (c) Earnout Payments.
As additional purchase price, the Buyer shall make the following payments of Buyer Shares to the Trust with respect to each of the Earnout Years based on the following calculation. 
  

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 (i) If in any Earnout Year, Revenue for such Earnout Year is less than 50% of the Revenue Objective for
such Earnout Year, the Buyer shall pay the Trust an additional zero (0) Performance Shares in respect of such Earnout Year. 
 (ii) If
in any Earnout Year, Revenue for such Earnout Year is greater than or equal to 50% of the Revenue Objective for such Earnout Year and less than 80% of the Revenue Objective for such Earnout Year, the Buyer shall pay the Trust an additional
Seventy-Five Thousand (75,000) Performance Shares in respect of such Earnout Year. 
 (iii) If in any Earnout Year, Revenue for such
Earnout Year is greater than or equal to 80% of the Revenue Objective for such Earnout Year and less than 100% of the Revenue Objective for such Earnout Year, the Buyer shall pay the Trust an additional One Hundred Twenty-Five Thousand
(125,000) Performance Shares in respect of such Earnout Year. 
 (iv) If in any Earnout Year, Revenue for such Earnout Year is greater
than or equal to 100% of the Revenue Objective for such Earnout Year and less than 114% of the Revenue Objective for such Earnout Year, the Buyer shall pay the Trust an additional One Hundred Fifty Thousand (150,000) Performance Shares in
respect of such Earnout Year. 
 (v) If in any Earnout Year, Revenue for such Earnout Year is greater than or equal to 114% of the Revenue
Objective for such Earnout Year and less than 150% of the Revenue Objective for such Earnout Year, the Buyer shall pay the Trust an additional Two Hundred Thousand (200,000) Performance Shares in respect of such Earnout Year. 
 (vi) If in any Earnout Year, Revenue for such Earnout Year is greater than or equal to 150% of the Revenue Objective for such Earnout Year, the Buyer
shall pay the Trust an additional Three Hundred Fifty Thousand (350,000) Performance Shares in respect of such Earnout Year. 
 The total aggregate
payments to be made by the Buyer to the Trust pursuant to this Section 1.5(c), if any, shall not exceed One Million Four Hundred Thousand (1,400,000) Performance Shares. 
 (vii) If, following the Closing Date, the employment relationship between Gerald Hehenberger (“Hehenberger”) and the Company is
terminated by the Buyer or the Company for any reason other than for a reason that would permit immediate dismissal without notice under Austrian labor law before the end of Earnout Year 4, the Buyer shall pay the Trust, in addition to any
Performance Shares that have been earned with respect to an Earnout Year prior to the Earnout Year in which such employment termination occurs (other than Year 1), (w) 1,400,000 Performance Shares, if such employment termination occurs during
Year 1, (x) 1,050,000 Performance Shares, if such employment termination occurs during Year 2, (y) 700,000 Performance Shares, if such employment termination occurs during Year 3, and (z) 350,000 Performance Shares, if such employment
termination occurs during Year 4. The Buyer shall have no obligation to pay additional Performance Shares to the Trust pursuant to Sections 1.5(c)(i)-(vi) following such an employment termination, and the Buyer shall have not obligation to pay
additional Performance Shares to the Trust in connection with such an employment termination that occurs following Earnout Year 4. 
  

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 (viii) In the event of a Sale Transaction, the Buyer shall pay the Trust, in addition to any Performance
Shares that have been earned with respect to an Earnout Year prior to the Earnout Year in which the Sale Transaction closes (other than Year 1), (w) 1,400,000 Performance Shares, if the Sale Transaction closes during Year 1, (x) 1,050,000
Performance Shares, if the Sale Transaction closes during Year 2, (y) 700,000 Performance Shares, if the Sale Transaction closes during Year 3, and (z) 350,000 Performance Shares, if the Sale Transaction closes during Year 4. The Buyer
shall have no obligation to pay additional Performance Shares to the Trust pursuant to Sections 1.5(c)(i)-(vi) following a Sale Transaction, and the Buyer shall have not obligation to pay additional Performance Shares to the Trust in connection
with a Sale Transaction that occurs following Earnout Year 4. 
 (d) Payment. Any payment to be made pursuant to Sections
1.5(c)(i)-(vi) (each, an “Earnout Payment”) shall be made by the Buyer to the Trust by the delivery within fifteen (15) days of delivery of the Earnout Report of a certificate for the Performance Shares registered in the
name of the Trust and recorded on the stock transfer ledger of the Buyer to be paid pursuant to Sections 1.5(c)(i)-(vi) for such Earnout Year. Any payment to be made pursuant to Section 1.5(c)(vii) or 1.5(c)(viii) shall be made by the
Buyer to the Trust within fifteen (15) days of the termination of Hehenberger’s employment with the Company, in the case of Section 1.5(c)(vii), and immediately prior to the closing of a Sale Transaction, in the case of
Section 1.5(c)(viii). 
 (e) Changes in Capitalization. In the event of any stock split, reverse stock split, stock dividend,
combination of shares, reclassification of shares, or other similar change in the capitalization of the Buyer affecting the Common Stock, the number and class of securities issuable as Performance Shares shall be appropriately and proportionately
adjusted by the Buyer to take into account such change. 
 (f) Employment of Hehenberger. Except as specifically provided in
Section 1.5(c)(viii), the rights of the Trust under the foregoing provisions of this Section 1.5 shall not in any way be affected by the termination for any reason of the employment relationship between the Buyer or the Company and
Hehenberger. 
 (g) Audit Rights. The achievement or failure to achieve each Revenue Objective set forth in Section 1.5(c) (each
an “Earnout Target”) shall be determined by the Buyer and delivered to the Trust not later than June 30 immediately following the close of each Earnout Year, which determination (an “Earnout Report”) shall be
set forth in a written notice delivered to the Trust together with the Earnout Payment, if any, owed to the Trust. Unless the Trust notifies the Buyer within thirty (30) days after receipt of the Earnout Report that it objects to the
Buyer’s computations included in the Earnout Report, the Earnout Report shall be binding and conclusive for the purposes of this Agreement. The Trust shall have access to the books and records of the Buyer relating to the Company during regular
business hours to verify the computations included in the Earnout Report. 
 (h) If the Trust notifies the Buyer in writing within thirty
(30) days after receipt of the Earnout Report that it objects to the computations included in the Earnout Report, and if the Trust and the Buyer are unable to reach agreement thereon within thirty (30) days after such notification, the
determination of the disputed computations shall be submitted to a 
  

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 mutually agreeable third-party firm of independent certified public accountants with expertise in US GAAP
(“Special Accountants”) for determination, whose determination shall be binding and conclusive on the parties. If the Special Accountants determine that the Revenue for the Earnout Year in question was greater than or equal to a
higher Earnout Target than that set forth in the Earnout Report, then the Buyer shall, within ten (10) days after receipt of such a written determination from the Special Accountants, pay the Special Accountants’ fees, costs and expenses
and pay the additional Earnout Payment due to the Trust. If the Special Accountants determine that the Revenue for the Earnout Year in question was not greater than or equal to a higher Earnout Target than that set forth in the Earnout Report, then
the Trust shall pay the Special Accountants’ fees, costs and expenses. 
 ARTICLE II 
 REPRESENTATIONS OF THE TRUST REGARDING THE TRUST 
 The Trust represents and warrants to the Buyer that the statements contained in this Article II are true and correct. 
 2.1. Due Organization. The Trust is duly organized, validly existing and in good standing under the laws of Austria. The Trust has furnished to the Buyer complete and accurate copies of its trust certificate
(Stiftungsurkunde) and supplementary trust certificate (Stiftungszusatzurkunde) with confidential sections thereof redacted. The Trust is not in default under or in violation of any provisions of its trust certificate
(Stiftungsurkunde) and supplementary trust certificate (Stiftungszusatzurkunde). 
 2.2. Title. The Trust has good and
marketable title to the Shares, free and clear of any and all covenants, conditions, restrictions, voting trust arrangements, liens, charges, encumbrances, options and adverse claims or rights whatsoever. 
 2.3. Authority. The Trust has the full right, power and authority to enter into this Agreement and to transfer, convey and sell to the Buyer at
the Closing the Shares and, upon consummation of the purchase contemplated hereby, the Buyer will acquire from the Trust good and marketable title to the Shares, free and clear of all covenants, conditions, restrictions, voting trust arrangements,
liens, charges, encumbrances, options and adverse claims or rights whatsoever. This Agreement has been duly and validly executed and delivered by the Trust and constitutes a valid and binding obligation of the Trust, enforceable against it in
accordance with its terms. 
 2.4. Noncontravention. Neither the execution and delivery by the Trust of this Agreement, nor the
consummation by the Trust of the transactions contemplated hereby, will (a) conflict with or violate any provision of the trust certificate (Stiftungsurkunde) and supplementary trust certificate (Stiftungszusatzurkunde) of the
Trust, (b) require on the part of the Trust any notice to or filing with, or any permit, authorization, consent or approval of, any Governmental Entity, (c) conflict with, result in a breach of, constitute (with or without due notice or
lapse of time or both) a default under, result in the acceleration of obligations under, create in any party the right to terminate, modify or cancel, or require any notice, consent or waiver under, any contract or instrument to which the Trust is a
party or by which the Trust is bound or to which any of its assets is subject, except for (i) any conflict, breach, default, 
  

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 acceleration, termination, modification or cancellation which would not adversely affect (x) the consummation of the
transactions contemplated hereby or (y) the Buyer’s continuing operation of the Company following the Closing or (ii) any notice, consent or waiver the absence of which would not adversely affect (x) the consummation of the
transactions contemplated hereby or (y) the Buyer’s continuing operation of the Company following the Closing, (d) result in the imposition of any Security Interest upon any assets of the Trust or (e) violate any order, writ,
injunction, decree, statute, rule or regulation applicable to the Trust or any of its properties or assets. 
 2.5. Regulatory
Approvals. The Trust is not a party to, subject to or bound by any agreement or any judgment, order, writ, prohibition, injunction or decree of any court or other governmental body which would prevent the execution or delivery of this Agreement
by it or the transfer, conveyance and sale of the Shares pursuant to the terms hereof. 
 2.6. Brokers. The Trust does not have any
liability or obligation to pay any fees or commissions to any broker, finder or agent with respect to the transactions contemplated by this Agreement. 
 2.7. Investment Representation. The Trust is acquiring the Buyer Shares for its own account for investment and not with a view to, or for sale in connection with, any distribution thereof, nor with any present
intention of distributing or selling the same in violation of any applicable securities laws; and, except as contemplated by this Agreement and the agreements contemplated herein, the Trust has no present or contemplated agreement, undertaking,
arrangement, obligation, indebtedness or commitment providing for the disposition thereof. 
 ARTICLE III 
 REPRESENTATIONS OF THE TRUST REGARDING THE COMPANY 
 The Trust represents and warrants to the Buyer that, except as set forth in the Disclosure Schedule, the statements contained in this Article III are true and correct. The Disclosure Schedule shall be arranged in
sections and subsections corresponding to the numbered and lettered sections and subsections contained in this Article III. The disclosures in any section or subsection of the Disclosure Schedule shall qualify only the corresponding section or
subsection in this Article III. 
 3.1. Organization, Qualification and Corporate Power. The Company is a corporation duly organized,
validly existing and in corporate and tax good standing under the laws of Austria. The Company is duly qualified to conduct business, through registration of a branch office or otherwise, and is in corporate and tax good standing under the laws of
each jurisdiction listed in Section 3.1 of the Disclosure Schedule, which jurisdictions constitute the only jurisdictions in which the nature of the Company’s businesses or the ownership or leasing of its properties requires such
qualification. The Company has all requisite corporate power and authority to carry on the businesses in which it is engaged and to own and use the properties owned and used by it. The Trust has furnished to the Buyer complete and accurate copies of
the articles of association of the Company. The Company is not in default under or in violation of any provision of its articles of association. 
  

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 3.2. Capitalization. The nominal share capital of the Company amounts to €181,686, which has
been fully paid in and which is exclusively held by the Trust. All of the Shares have been duly authorized, validly issued, and are fully paid and free of all preemptive rights. There are no outstanding or authorized options, warrants, rights,
calls, convertible instruments, agreements or commitments to which the Company is a party or which are binding upon the Company providing for the issuance, disposition or acquisition of any of its capital stock. There are no outstanding or
authorized stock appreciation, phantom stock or similar rights with respect to the Company. There are no agreements, voting trusts, proxies or understandings with respect to the voting of any Shares. All of the issued and outstanding Shares were
issued in compliance with all applicable laws. 
 3.3. Subsidiaries. 
 (a) Section 3.3 of the Disclosure Schedule sets forth: (i) the name of each Subsidiary; (ii) the number and type of outstanding equity
securities of each Subsidiary; (iii) the jurisdiction of organization of each Subsidiary; (iv) the names of the officers and directors of each Subsidiary; and (v) the jurisdictions in which each Subsidiary is qualified or holds
licenses to do business as a foreign corporation or other entity. 
 (b) Each Subsidiary is a corporation duly organized, validly existing
and in corporate and tax good standing under the laws of the jurisdiction of its incorporation. Each Subsidiary is duly qualified to conduct business, through registration of a branch office or otherwise, and is in corporate and tax good standing
under the laws of each jurisdiction in which the nature of its businesses or the ownership or leasing of its properties requires such qualification. Each Subsidiary has all requisite power and authority to carry on the businesses in which it is
engaged and to own and use the properties owned and used by it. The Trust has delivered to the Buyer complete and accurate copies of the articles of association of each Subsidiary. No Subsidiary is in default under or in violation of any provision
of its articles of association. All of the issued and outstanding shares of each Subsidiary are duly authorized, validly issued, fully paid, nonassessable and free of preemptive rights. All shares of each Subsidiary are held of record and owned
beneficially by the Company, free and clear of any restrictions on transfer (other than restrictions under applicable securities laws), claims, Security Interests, options, warrants, rights, contracts, calls, commitments, equities and demands. There
are no outstanding or authorized options, warrants, rights, agreements or commitments to which the Company or any Subsidiary is a party or which are binding on any of them providing for the issuance, disposition or acquisition of any shares of any
Subsidiary. There are no outstanding stock appreciation, phantom stock or similar rights with respect to any Subsidiary. There are no voting trusts, proxies or other agreements or understandings with respect to the voting of any shares of any
Subsidiary. 
 (c) The Company does not control directly or indirectly or have any direct or indirect equity participation or similar
interest in any corporation, partnership, limited liability company, joint venture, trust or other business association or entity which is not a Subsidiary. 
 3.4. Financial Statements. The Trust has provided to the Buyer the Financial Statements. The Financial Statements have been prepared in accordance with Austrian GAAP applied on a consistent basis throughout the
periods covered thereby, fairly present the 
  

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 consolidated financial condition, results of operations and cash flows of the Company and its Subsidiaries as of the
respective dates thereof and for the periods referred to therein and are consistent with the books and records of the Company and its Subsidiaries; provided, however, that the Financial Statements referred to in clause (b) of the
definition of such term are subject to normal recurring year-end adjustments and do not include footnotes. 
 3.5. Absence of Certain
Changes. Since the Most Recent Balance Sheet Date, (a) there has occurred no event or development which, individually or in the aggregate, has had, or could reasonably be expected to have in the future, a Company Material Adverse Effect,
and (b) neither the Company nor any Subsidiary has taken any of the following actions: 
 (i) declared or paid any dividend or other
distribution in cash or property on its capital stock or repurchased any of its capital stock; 
 (ii) incurred, assumed or guaranteed any
debt (including capital lease obligations, but excluding accounts payable incurred in the ordinary course of business); or made any loans, advances or capital contributions to, or investments in, any other person; 
 (iii) increased in any manner the compensation or fringe benefits of, or materially modified the employment terms of, or paid any bonuses to, its
employees; 
 (iv) acquired any assets or made any capital expenditures for an amount of over €10,000 in any one instance or
€25,000 in the aggregate; 
 (v) changed in any material respect its accounting methods, principles or practices, except as required by
a generally applicable change in Austrian GAAP; or 
 (vi) paid any obligation or liability other than in the Ordinary Course of Business.

 3.6. Undisclosed Liabilities. Neither the Company nor any of its Subsidiaries has any liability (whether known or unknown, whether
absolute or contingent, whether liquidated or unliquidated and whether due or to become due), except for (a) liabilities shown on the Most Recent Balance Sheet, (b) liabilities which have arisen since the Most Recent Balance Sheet Date in
the Ordinary Course of Business and (c) contractual and other liabilities incurred in the Ordinary Course of Business which are not required by Austrian GAAP to be reflected on a balance sheet. 
 3.7. Tax Matters. 
 (a) Each of the
Company and its Subsidiaries has filed on a timely basis all Tax Returns that it was required to file, and all such Tax Returns were complete and accurate in all material respects. Neither the Company nor any Subsidiary is or has ever been a member
of a group of corporations with which it has filed (or been required to file) consolidated, combined or unitary Tax Returns (including a tax group (Unternehmensgruppe) within the meaning of Section 9 of the Austrian Corporate Income Tax
Act (Körperschaftsteuergesetz), other than a group of which the common parent is the Company. Each of the Company and its Subsidiaries has paid on a timely basis all Taxes that were due and payable. The unpaid Taxes of the Company and

  

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 each Subsidiary for tax periods through the Most Recent Balance Sheet Date do not exceed the accruals and reserves for
Taxes set forth on the Most Recent Balance Sheet. Neither the Company nor any Subsidiary has any actual or potential liability for any Tax obligation of any taxpayer other than the Company or any Subsidiary. All Taxes that the Company or any
Subsidiary is or was required by law to withhold or collect have been duly withheld or collected and, to the extent required, have been paid to the proper Governmental Entity. 
 (b) The Trust has delivered to the Buyer complete and accurate copies of all of the Company’s and of any of the Subsidiaries’ Tax Returns,
assessment notes (Bescheide) and audit reports (Außenprüfungsberichte) applicable to fiscal year 2005. The Tax Returns of the Company and each Subsidiary have been audited by the Austrian tax authorities or are closed by the
applicable statute of limitations for all taxable years through the taxable year specified in Section 3.7(b) of the Disclosure Schedule. No examination or audit of any Tax Return of the Company or any Subsidiary by any Governmental Entity is
currently in progress or threatened or contemplated. Neither the Company nor any Subsidiary has been informed by any jurisdiction that the jurisdiction believes that the Company or any Subsidiary was required to file any Tax Return that was not
filed. Neither the Company nor any Subsidiary has waived any statute of limitations with respect to Taxes or agreed to an extension of time with respect to a Tax assessment or deficiency. 
 (c) Neither the Company nor any Subsidiary has undergone a change in its method of accounting resulting in an adjustment to its taxable income.

 (d) The Company and its Subsidiaries have net operating losses (Verlustvorträge) in the amounts set forth in
Section 3.7(d) of the Disclosure Schedule; none of these net operating losses of the Company or any Subsidiary determined as of the Closing Date is subject to limitation on its use other than as provided under applicable tax law. 
 3.8. Assets. The Company or the applicable Subsidiary is the true and lawful owner, and has good title to, all of the assets (tangible or
intangible) purported to be owned by the Company and its Subsidiaries, free and clear of all Security Interests. Each of the Company and its Subsidiaries owns or leases all tangible assets sufficient for the conduct of its business as presently
conducted and as presently proposed to be conducted. Each such tangible asset is free from material defects, has been maintained in accordance with normal industry practice, is in good operating condition and repair (subject to normal wear and tear)
and is suitable for the purposes for which it presently is used. 
 3.9. Owned Real Property. Neither the Company nor any Subsidiary
has owned any real property. 
 3.10. Real Property Leases. Section 3.10 of the Disclosure Schedule lists all Leases and lists
the term of such Lease, any extension and expansion options, and the rent payable thereunder. The Company has delivered to the Buyer complete and accurate copies of the Leases. With respect to each Lease: 
 (a) such Lease is legal, valid, binding, enforceable and in full force and effect; 
  

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 (b) such Lease will continue to be legal, valid, binding, enforceable and in full force and effect
immediately following the Closing in accordance with the terms thereof as in effect immediately prior to the Closing; 
 (c) neither the
Company nor any Subsidiary, nor, to the knowledge of the Trust, any other party, is in breach or violation of, or default under, any such Lease, and no event has occurred, is pending or, to the knowledge of the Trust, is threatened, which, after the
giving of notice, with lapse of time, or otherwise, would constitute a breach or default by the Company or any Subsidiary or, to the knowledge of the Trust, any other party under such Lease; and 
 (d) neither the Company nor any Subsidiary has assigned, transferred, conveyed, mortgaged, deeded in trust or encumbered any interest in the leasehold or
subleasehold. 
 3.11. Intellectual Property. 
 (a) Registrations. Section 3.11(a) of the Disclosure Schedule lists all Company Registrations and Hehenberger Registrations, in each case enumerating specifically the applicable filing or registration
number, title, jurisdiction in which filing was made or from which registration issued, date of filing or issuance, names of all current applicant(s) and registered owners(s), as applicable. All assignments of Company Registrations to the Company or
any Subsidiary, and all assignments of Hehenberger Registrations to Hehenberger, have been properly executed and recorded. To the knowledge of the Trust, all Company Registrations and Hehenberger Registrations are valid and enforceable and all
issuance, renewal, maintenance and other payments that are or have become due with respect thereto have been timely paid by or on behalf of the Company or Hehenberger, as applicable. 
 (b) Prosecution Matters. There are no inventorship challenges, opposition or nullity proceedings or interferences declared, commenced or provoked,
or to the knowledge of the Trust threatened, with respect to any Patent Rights included in the Company Registrations or Hehenberger Registrations. The Company and the Subsidiaries and Hehenberger, as applicable, have complied with their duty of
candor and disclosure to the United States Patent and Trademark Office and any relevant foreign patent office with respect to all patent and trademark applications filed by or on behalf of the Company or any Subsidiary or Hehenberger, as applicable,
and have made no material misrepresentation in such applications. The Trust has no knowledge of any information that would preclude the Company or any Subsidiary or Hehenberger, as applicable, from having clear title to the Company Registrations or
Hehenberger Registrations, as applicable or affecting the patentability or enforceability of any Company Registrations or Hehenberger Registrations. 
 (c) Ownership; Sufficiency. Each item of Company Intellectual Property will be owned or available for use by the Buyer immediately following the Closing on substantially identical terms and conditions as it was
immediately prior to the Closing. The Company or a Subsidiary is the sole and exclusive owner of all Company Owned Intellectual Property, free and clear of any Security Interests and all joint owners of the Company Owned Intellectual Property are
listed in Section 3.11(c) of the Disclosure Schedule. The Company Intellectual Property constitutes all Intellectual Property necessary (i) to Exploit the Customer Offerings in the manner 
  

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 so done currently and contemplated to be done in the future by the Company and the Subsidiaries, (ii) to Exploit the
Internal Systems as they are currently used and contemplated to be used in the future by the Company and the Subsidiaries, and (iii) otherwise to conduct the Company’s business in all material respects in the manner currently conducted and
contemplated to be conducted in the future by the Company and the Subsidiaries. 
 (d) Protection Measures. The Company or the
appropriate Subsidiary has taken reasonable measures to protect the proprietary nature of each item of Company Owned Intellectual Property, and to maintain in confidence all trade secrets and confidential information comprising a part thereof. The
Company and each Subsidiary have complied with all applicable contractual and legal requirements pertaining to information privacy and security. No complaint relating to an improper use or disclosure of, or a breach in the security of, any such
information has been made or, to the knowledge of the Trust, threatened against the Company or any Subsidiary or Hehenberger, as applicable. To the knowledge of the Trust, there has been no: (i) unauthorized disclosure of any third party
proprietary or confidential information in the possession, custody or control of the Company or any Subsidiary or Hehenberger, as applicable, or (ii) breach of the Company’s or any Subsidiary’s security procedures wherein confidential
information has been disclosed to a third person. The Company has taken commercially reasonable steps to police the quality of all goods and services sold, distributed or marketed under each of its Trademarks and has enforced adequate quality
control measures to ensure that no Trademarks that it has licensed to others shall be deemed to be abandoned. 
 (e) Infringement by
Company. None of the Customer Offerings, or the Exploitation thereof by the Company or its Subsidiaries or by any reseller, distributor, customer or user thereof, or any other activity of the Company or its Subsidiaries, infringes or violates,
or constitutes a misappropriation of, any Intellectual Property rights of any third party. None of the Internal Systems, or the Company’s or any Subsidiary’s past, current or currently contemplated Exploitation thereof, or any other
activity undertaken by them in connection with the business of the Company and its Subsidiaries, infringes or violates, or constitutes a misappropriation of, any Intellectual Property rights of any third party. Section 3.11(e) of the Disclosure
Schedule lists any complaint, claim or notice, or threat of any of the foregoing (including any notification that a license under any patent is or may be required), received by the Company or any Subsidiary or Hehenberger alleging any such
infringement, violation or misappropriation and any request or demand for indemnification or defense received by the Company or any Subsidiary or Hehenberger from any reseller, distributor, customer, user or any other third party; and the Trust has
provided to the Buyer copies of all such complaints, claims, notices, requests, demands or threats, as well as any legal opinions, studies, market surveys and analyses relating to any alleged or potential infringement, violation or misappropriation.

 (f) Infringement of Company Rights. To the knowledge of the Trust, no person (including, without limitation, any current or former
employee or consultant of Company or the Subsidiaries) is infringing, violating or misappropriating any of the Company Owned Intellectual Property, Hehenberger Owned Intellectual Property or any Company Licensed Intellectual Property which is
exclusively licensed to the Company or any Subsidiary. The Trust has provided to the Buyer copies of all correspondence, analyses, legal opinions, complaints, claims, notices or threats concerning the infringement, violation or misappropriation of
any Company Intellectual Property. 
  

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 (g) Outbound IP Agreements. Section 3.11(g) of the Disclosure Schedule identifies each
license, covenant or other agreement pursuant to which the Company or a Subsidiary or Hehenberger has assigned, transferred, licensed, distributed or otherwise granted any right or access to any person, or covenanted not to assert any right, with
respect to any past, existing or future Company Intellectual Property. Neither the Company nor any Subsidiary has agreed to indemnify any person against any infringement, violation or misappropriation of any Intellectual Property rights with respect
to any Customer Offerings or any third party Intellectual Property rights. Neither the Company nor any Subsidiary is a member of or party to any patent pool, industry standards body, trade association or other organization pursuant to the rules of
which it is obligated to license any existing or future Intellectual Property to any person. 
 (h) Inbound IP Agreements.
Section 3.11(h) of the Disclosure Schedule identifies (i) each item of Company Licensed Intellectual Property and the license or agreement pursuant to which the Company or a Subsidiary Exploits it (excluding currently-available, off the
shelf software programs that are part of the Internal Systems and are licensed by the Company pursuant to “shrink wrap” licenses, the total fees associated with which are less than $2,500) and (ii) each agreement, contract, assignment
or other instrument pursuant to which the Company or any Subsidiary has obtained any joint or sole ownership interest in or to each item of Company Owned Intellectual Property. No third party inventions, methods, services, materials, processes or
Software, except for software bound to certain products as identified and described in Section 3.11(h) of the Disclosure Schedule, are included in or required to Exploit the Customer Offerings or Internal Systems. None of the Customer Offerings
or Internal Systems includes “shareware,” “freeware” or other Software or other material that was obtained by the Company from third parties other than pursuant to the license agreements listed in Section 3.11(h) of the
Disclosure Schedule. 
 (i) Authorship. All of the Software and Documentation comprising, incorporated in or bundled with the Customer
Offerings or Internal Systems, except for software bound to certain products as identified and described in Section 3.11(i) of the Disclosure Schedule, have been designed, authored, tested and debugged by regular employees of the Company or a
Subsidiary within the scope of their employment or by independent contractors of the Company or a Subsidiary who have executed valid and binding agreements expressly assigning to the maximum extent permissible under Austrian patent law all right,
title and interest in such copyrightable materials to the Company or a Subsidiary, waiving their non-assignable rights (including moral rights) in favor of the Company or a Subsidiary and its permitted assigns and licensees, and have no residual
claim to such materials. 
 (j) Employee and Contractor Assignments. Each employee of the Company or any Subsidiary and each
independent contractor of the Company or any Subsidiary has executed a valid and binding written agreement expressly assigning to the maximum extent permissible under Austrian patent law to the Company or a Subsidiary all right, title and interest
in any inventions and works of authorship, whether or not patentable, invented, created, developed, conceived and/or reduced to practice during the term of such employee’s employment or such independent contractor’s work for the Company or
the relevant Subsidiary, and all Intellectual Property rights therein, and has waived all moral rights therein to the maximum extent legally permissible under Austrian patent law. 
  

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 (k) Quality. To the knowledge of the Trust, the Customer Offerings and the Internal Systems are
free from significant defects in design, workmanship and materials and conform in all material respects to the written Documentation and specifications therefor. The Customer Offerings and the Internal Systems do not contain any disabling device,
virus, worm, back door, Trojan horse or other disruptive or malicious code that may or are intended to impair their intended performance or otherwise permit unauthorized access to, hamper, delete or damage any computer system, software, network or
data. Except for a normal level of component repairs and replacements (e.g., the PM-1000), the Company and its Subsidiaries have not received any warranty claims, contractual terminations or requests for settlement or refund due to the failure of
the Customer Offerings to meet their specifications or otherwise to satisfy end user needs or for harm or damage to any third party. 
 (l)
Support and Funding. The Company and its Subsidiaries have neither sought, applied for nor received any support, funding, resources or assistance from any federal, state, local or foreign governmental or quasi-governmental agency or funding
source in connection with the Exploitation of the Customer Offerings, the Internal Systems or any facilities or equipment used in connection therewith. 
 3.12. Inventory. All inventory of the Company and its Subsidiaries, whether or not reflected on the Most Recent Balance Sheet, consists of a quality and quantity usable and saleable in the Ordinary Course of
Business, except for obsolete items and items of below-standard quality, all of which have been written-off or written-down to net realizable value on the Most Recent Balance Sheet. All inventories not written-off have been priced at the lower of
cost or net realizable value on a first-in, first-out basis. The quantities of each type of inventory, whether raw materials, work-in-process or finished goods, are not excessive in the present circumstances of the Company and its Subsidiaries.

 3.13. Contracts. 
 (a)
Section 3.13 of the Disclosure Schedule lists the following agreements (written or oral) to which the Company or any Subsidiary is a party as of the date of this Agreement: 
 (i) any agreement (or group of related agreements) for the lease of personal property from or to third parties providing for lease payments in excess of
€10,000 per annum or having a remaining term longer than twelve (12) months; 
 (ii) any agreement (or group of related
agreements) for the purchase or sale of products or for the furnishing or receipt of services (A) which calls for performance over a period of more than one year, (B) which involves more than the sum of €50,000, or (C) in which
the Company or any Subsidiary has granted manufacturing rights, “most favored nation” pricing provisions or exclusive marketing or distribution rights relating to any products or territory or has agreed to purchase a minimum quantity of
goods or services or has agreed to purchase goods or services exclusively from a certain party; 
 (iii) any agreement concerning the
establishment or operation of a partnership, joint venture or limited liability company; 
  

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 (iv) any agreement (or group of related agreements) under which the Company or any Subsidiary has
created, incurred, assumed or guaranteed (or may create, incur, assume or guarantee) indebtedness (including capitalized lease obligations) involving more than €50,000 or under which the Company or any Subsidiary has imposed (or may impose) a
Security Interest on any of its assets, tangible or intangible; 
 (v) any agreement for the disposition of any significant portion of the
assets or business of the Company or any Subsidiary (other than sales of products in the Ordinary Course of Business) or any agreement for the acquisition of the assets or business of any other entity (other than purchases of inventory or components
in the Ordinary Course of Business); 
 (vi) any agreement concerning confidentiality or noncompetition; 
 (vii) any employment or consulting agreement; 
 (viii) any agreement involving any current or former officer, director or stockholder of the Company or an Affiliate thereof; 
 (ix) any agreement not already listed in Section 3.12 of the Disclosure Schedule under which the consequences of a default or termination would reasonably be expected to have a Company Material Adverse Effect; 
 (x) any agreement not already listed in Section 3.12 of the Disclosure Schedule which contains any provisions requiring the Company or any
Subsidiary to indemnify any other party (excluding indemnities contained in agreements for the purchase, sale or license of products entered into in the Ordinary Course of Business); and 
 (xi) any other agreement (or group of related agreements) either involving more than €10,000 or not entered into in the Ordinary Course of
Business. 
 (b) The Trust has delivered to the Buyer a complete and accurate copy of each agreement listed in Section 3.11 or
Section 3.13 of the Disclosure Schedule. With respect to each agreement so listed: (i) the agreement is legal, valid, binding and enforceable and in full force and effect in accordance with the terms thereof; (ii) the agreement will
continue to be legal, valid, binding and enforceable and in full force and effect immediately following the Closing in accordance with the terms thereof as in effect immediately prior to the Closing; and (iii) neither the Company nor any
Subsidiary nor, to the knowledge of the Trust, any other party, is in breach or violation of, or default under, any such agreement, and no event has occurred, is pending or, to the knowledge of the Trust, is threatened, which, after the giving of
notice, with lapse of time, or otherwise, would constitute a breach or default by the Company or any Subsidiary or, to the knowledge of the Trust, any other party under such agreement. 
 3.14. Accounts Receivable. All accounts receivable of the Company and its Subsidiaries reflected on the Most Recent Balance Sheet (other than
those paid since such date) are valid receivables subject to no setoffs or counterclaims and are current and collectible (within 90 days after the date on which it first became due and payable), net of the applicable reserve for bad debts on the
Most Recent Balance Sheet. All accounts receivable of the Company and its Subsidiaries that have arisen since the Most Recent Balance Sheet Date are valid receivables 
  

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 subject to no setoffs or counterclaims and are collectible (within 90 days after the date on which it first became due
and payable), net of a reserve for bad debts in an amount proportionate to the reserve shown on the Most Recent Balance Sheet. Neither the Company nor any Subsidiary has received any written notice from an account debtor stating that any account
receivable in an amount in excess of €50,000 is subject to any contest, claim or setoff by such account debtor. 
 3.15. Powers of
Attorney. There are no outstanding powers of attorney executed on behalf of the Company or any Subsidiary. 
 3.16. Insurance.
Section 3.16 of the Disclosure Schedule lists each insurance policy (including fire, theft, casualty, comprehensive general liability, workers compensation, business interruption, environmental, product liability and automobile insurance
policies and bond and surety arrangements) to which the Company or any Subsidiary is a party, all of which are in full force and effect. There is no material claim pending under any such policy as to which coverage has been questioned, denied or
disputed by the underwriter of such policy. All premiums due and payable under all such policies have been paid, neither the Company nor any Subsidiary will be liable for retroactive premiums or similar payments, and the Company and its Subsidiaries
are otherwise in compliance in all material respects with the terms of such policies. The Trust has no knowledge of any threatened termination of, or premium increase with respect to, any such policy. Each such policy will continue to be enforceable
and in full force and effect immediately following the Closing in accordance with the terms thereof as in effect immediately prior to the Closing. 
 3.17. Litigation. There is no Legal Proceeding which is pending or has been threatened in writing against the Company or any Subsidiary. There are no judgments, orders or decrees outstanding against the Company or any Subsidiary.

 3.18. Warranties. No product or service manufactured, sold, leased, licensed or delivered by the Company or any Subsidiary is
subject to any guaranty, warranty, right of return, right of credit or other indemnity other than (i) the applicable terms and conditions of sale or lease of the Company or the applicable Subsidiary as set forth in the applicable purchase
contract or as required under Austrian commercial law, which are set forth in Section 3.18 of the Disclosure Schedule and (ii) manufacturers’ warranties for which neither the Company nor any Subsidiary has any liability. The Company
has a reserve account on its balance sheet to cover guaranties, warranties, rights of return, rights of credit and other indemnification obligations with respect to products or services manufactured, sold, leased, licensed or delivered by the
Company or any Subsidiary on or prior to the date of this Agreement. 
 3.19. Employees. 
 (a) Section 3.19 of the Disclosure Schedule contains a list of all employees of the Company and each Subsidiary, along with the position and the
annual rate of compensation of each such person. Each current or past employee of the Company or any Subsidiary has entered into an employment agreement which contains a confidentiality agreement with the Company or such Subsidiary, a copy or form
of which has previously been delivered to the Buyer. All employees of the Company and each Subsidiary, with the exception of Hehenberger, have entered into employment agreements (Dienstverträge) with such Company or Subsidiary

  

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 that bind them to the terms of the Austrian patent law regarding assignment of inventions and to the provisions of the
mandatory applicable Austrian collective bargaining agreement, a copy or form of such agreements have previously been delivered to the Buyer. All of the agreements referenced in the two preceding sentences will continue to be legal, valid, binding
and enforceable and in full force and effect immediately following the Closing in accordance with the terms thereof as in effect immediately prior to the Closing. To the knowledge of the Trust, no key employee or group of employees has any plans to
terminate employment with the Company or any Subsidiary. 
 (b) Except for the mandatory application of the applicable collective bargaining
agreement under Austrian labor law as described in Section 3.19(b) of the Disclosure Schedule, neither the Company nor any Subsidiary is a party to or bound by any collective bargaining agreement, nor has the Company or any Subsidiary
experienced any strikes, grievances, claims of unfair labor practices or other collective bargaining disputes. The Trust has no knowledge of any organizational effort made or threatened, either currently or within the past two years, by or on behalf
of any labor union with respect to employees of the Company or any Subsidiary. 
 3.20. Employee Benefits. 
 (a) Section 3.20(a) of the Disclosure Schedule contains a complete and accurate list of all Company Plans. Complete and accurate copies of
(i) all Company Plans which have been reduced to writing, (ii) written summaries of all unwritten Company Plans, (iii) all related trust agreements, insurance contracts and summary plan descriptions, and (iv) all plan financial
statements for the last five plan years for each Company Plan, have been delivered to the Buyer. 
 (b) Each Company Plan has been
administered in all material respects in accordance with its terms and the Company has in all material respects met its obligations with respect to each Company Plan and has made all required contributions thereto. 
 (c) There are no Legal Proceedings (except claims for benefits payable in the normal operation of the Company Plans and proceedings with respect to
qualified domestic relations orders) against or involving any Company Plan or asserting any rights or claims to benefits under any Company Plan that could give rise to any material liability. 
 (d) No act or omission has occurred and no condition exists with respect to any Company Plan that would subject the Company or any Subsidiary to
(i) any material fine, penalty, tax or liability of any kind imposed under Austrian law (ii) any contractual indemnification or contribution obligation protecting any fiduciary, insurer or service provider with respect to any Company Plan.

 (e) Section 3.20(e) of the Disclosure Schedule sets forth the policy of the Company and any Subsidiary with respect to accrued
vacation, accrued sick time and earned time off and the amount of such liabilities as of the date of this Agreement. 
 (f)
Section 3.20(f) of the Disclosure Schedule discloses each: (i) agreement with any stockholder, director, executive officer or other key employee of the Company or any 
  

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 Subsidiary (A) the benefits of which are contingent, or the terms of which are altered, upon the occurrence of a
transaction involving the Company or any Subsidiary of the nature of any of the transactions contemplated by this Agreement, (B) providing any term of employment or compensation guarantee or (C) providing severance benefits or other
benefits after the termination of employment of such director, executive officer or key employee; (ii) agreement or plan binding the Company or any Subsidiary, including any stock option plan, stock appreciation right plan, restricted stock
plan, stock purchase plan, severance benefit plan or Company Plan, any of the benefits of which will be increased, or the vesting of the benefits of which will be accelerated, by the occurrence of any of the transactions contemplated by this
Agreement or the value of any of the benefits of which will be calculated on the basis of any of the transactions contemplated by this Agreement. 
 3.21. Environmental Matters. Each of the Company and its Subsidiaries has complied with all applicable Environmental Laws, and real property currently or previously owned by any one of them fully complies and has complied with all
applicable Environmental Laws. There is no pending or, to the knowledge of the Trust, threatened civil or criminal litigation, written notice of violation, formal administrative proceeding, or investigation, inquiry or information request by any
Governmental Entity, relating to any Environmental Law involving the Company or any Subsidiary. Neither the Company nor any Subsidiary has or may have any liabilities or obligations arising from the release of any Materials of Environmental Concern
into the environment. 
 3.22. Legal Compliance. Each of the Company and its Subsidiaries is currently conducting, and has at all
times since January 1, 2003 conducted, its business in compliance with each applicable law (including rules and regulations thereunder) of any federal, state, local or foreign government, or any Governmental Entity, except for any violations or
defaults that, individually or in the aggregate, have not had and would not reasonably be expected to have a Company Material Adverse Effect. Neither the Company nor any Subsidiary has received any notice or communication from any Governmental
Entity alleging noncompliance with any applicable law, rule or regulation. 
 3.23. Customers and Suppliers. Section 3.23 of the
Disclosure Schedule sets forth a list of (a) each customer that accounted for more than 1% of the consolidated revenues of the Company during the last full fiscal year or the interim period through the Most Recent Balance Sheet Date and the
amount of revenues accounted for by such customer during each such period and (b) each supplier that is the sole supplier of any significant product or service to the Company or a Subsidiary. No such customer or supplier has indicated within
the past year that it will stop, or decrease the rate of, buying products or supplying products, as applicable, to the Company or any Subsidiary. 
 3.24. Permits. Section 3.24 of the Disclosure Schedule sets forth a list of all Permits issued to or held by the Company and its Subsidiaries. Such listed Permits are the only Permits that are required for the Company and its
Subsidiaries to conduct their respective businesses as presently conducted or as proposed to be conducted. Each such Permit is in full force and effect; the Company or the applicable Subsidiary is in compliance with the terms of each such Permit;
and, to the knowledge of the Trust, no suspension or cancellation of such Permit is threatened 
  

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 and there is no basis for believing that such Permit will not be renewable upon expiration. Each such Permit will
continue in full force and effect immediately following the Closing. 
 3.25. Certain Business Relationships With Affiliates. No
Affiliate of the Company (a) owns any property or right, tangible or intangible, which is used in the business of the Company or any Subsidiary, (b) has any claim or cause of action against the Company or any Subsidiary, or (c) owes
any money to, or is owed any money by, the Company or any Subsidiary. Section 3.25 of the Disclosure Schedule describes any transactions or relationships between the Company and any Affiliate thereof which occurred or have existed since the
beginning of the time period covered by the Financial Statements. 
 3.26. Brokers’ Fees. Neither the Company nor any Subsidiary
has any liability or obligation to pay any fees or commissions to any broker, finder or agent with respect to the transactions contemplated by this Agreement. 
 3.27. Books and Records. The corporate and financial books and records of the Company and each Subsidiary accurately reflect in all material respects the corporate proceedings and the assets, liabilities,
business, financial condition and results of operations of the Company or such Subsidiary and have been maintained in accordance with good business and bookkeeping practices. Section 3.27 of the Disclosure Schedule contains a list of all bank
accounts and safe deposit boxes of the Company and its Subsidiaries and the names of persons having signature authority with respect thereto or access thereto. 
 3.28. Disclosure. No representation or warranty by the Company contained in this Agreement, and no statement contained in the Disclosure Schedule or any other document, certificate or other instrument delivered
or to be delivered by or on behalf of the Company pursuant to this Agreement, contains or will contain any untrue statement of a material fact or omits or will omit to state any material fact necessary, in light of the circumstances under which it
was or will be made, in order to make the statements herein or therein not misleading. The Company has disclosed to the Buyer all material information relating to the business of the Company or any Subsidiary or the transactions contemplated by this
Agreement. 
 ARTICLE IV 
 REPRESENTATIONS OF THE BUYER 
 The Buyer represents and warrants to the Trust that the statements contained in this Article
IV are true and correct: 
 4.1. Organization, Qualification and Corporate Power. The Buyer is a corporation duly organized, validly
existing and in good standing under the laws of the state of its incorporation. The Buyer has all requisite corporate power and authority to carry on the businesses in which it is engaged and to own and use the properties owned and used by it. The
Buyer has furnished or made available to the Trust complete and accurate copies of its Certificate of Incorporation and By-laws. 
 4.2.
Authorization of Transaction. The Buyer has all requisite power and authority to execute and deliver this Agreement and to perform its obligations hereunder. The execution and delivery by the Buyer of this Agreement and the consummation by
the Buyer of the transactions 
  

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 contemplated hereby have been duly and validly authorized by all necessary corporate action on the part of the Buyer.
This Agreement has been duly and validly executed and delivered by the Buyer and constitutes a valid and binding obligation of the Buyer, enforceable against it in accordance with its terms. 
 4.3. Noncontravention. Neither the execution and delivery by the Buyer of this Agreement, nor the consummation by the Buyer of the transactions
contemplated hereby, will (a) conflict with or violate any provision of the Certificate of Incorporation or By-laws of the Buyer, (b) require on the part of the Buyer any filing with, or permit, authorization, consent or approval of, any
Governmental Entity, except for filing obligations on Form 8-K and the filing of a registration statement under Article IX of this Agreement, (c) conflict with, result in breach of, constitute (with or without due notice or lapse of time or
both) a default under, result in the acceleration of obligations under, create in any party any right to terminate, modify or cancel, or require any notice, consent or waiver under, any contract or instrument to which the Buyer is a party or by
which it is bound or to which its assets are subject, except for (i) any conflict, breach, default, acceleration, termination, modification or cancellation which would not adversely affect the consummation of the transactions contemplated
hereby or (ii) any notice, consent or waiver the absence of which would not adversely affect the consummation of the transactions contemplated hereby, (d) violate any order, writ, injunction, decree, statute, rule or regulation applicable
to the Buyer or any of its properties or assets, or (e) result in the imposition of any security interest upon any assets of the Buyer. 
 4.4. Brokers’ Fees. The Buyer has no liability or obligation to pay any fees or commissions to any broker, finder or agent with respect to the transactions contemplated by this Agreement. 
 4.5. Investment Representation. The Buyer is acquiring the Shares from the Trust for its own account for investment and not with a view to, or for
sale in connection with, any distribution thereof, nor with any present intention of distributing or selling the same; and, except as contemplated by this Agreement and the agreements contemplated herein, the Buyer has no present or contemplated
agreement, undertaking, arrangement, obligation, indebtedness or commitment providing for the disposition thereof. 
 4.6.
Capitalization. The authorized capital stock of the Buyer consists of 100,000,000 shares of Buyer Common Stock, of which 33,018,168 shares were issued and outstanding as of June 30, 2006. The rights and privileges of each class of the
Buyer’s capital stock are set forth in the Buyer’s Certificate of Incorporation. All of the Buyer Shares will be, when issued on the terms and conditions of this Agreement, duly authorized, validly issued, fully paid and nonassessable and
not subject to or issued in violation of any purchase option, call option, right of first refusal, preemptive right, subscription right or any similar right under any provision of the Buyer’s Certificate of Incorporation or By-laws or any
agreement to which the Buyer is a party or is otherwise bound. 
 4.7. Reports and Financial Statements. The Buyer has previously
furnished or made available to the Trust complete and accurate copies, as amended or supplemented, of the Buyer Reports. The Buyer Reports constitute all of the documents required to be filed by the Buyer under Section 13 or subsections
(a) or (c) of Section 14 of the Exchange Act with the SEC from 
  

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 June 14, 2006 through the date of this Agreement. The Buyer Reports complied in all material respects with the
requirements of the Exchange Act and the rules and regulations thereunder when filed. As of their respective dates, the Buyer Reports did not contain any untrue statement of a material fact or omit to state a material fact required to be stated
therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading. The audited financial statements and unaudited interim financial statements of the Buyer included in the Buyer Reports
(i) complied as to form in all material respects with applicable accounting requirements and the published rules and regulations of the SEC with respect thereto when filed, (ii) were prepared in accordance with US GAAP applied on a
consistent basis throughout the periods covered thereby (except as may be indicated therein or in the notes thereto, and in the case of quarterly financial statements, as permitted by Form 10-Q under the Exchange Act), and (iii) fairly
present the consolidated financial condition, results of operations and cash flows of the Buyer as of the respective dates thereof and for the periods referred to therein. Since June 14, 2006 there has occurred no event or development which has
had or may be reasonably foreseen to have in the future a material adverse effect on the Buyer. In addition to the Buyer Reports, Buyer has previously furnished to the Trust a business plan projected through at least fiscal year 2010. 
 4.8. Disclosure. No representation or warranty by the Buyer contained in this Agreement, and no statement contained in any other document,
certificate or other instrument delivered or to be delivered by or on behalf of the Buyer pursuant to this Agreement, contains or will contain any untrue statement of a material fact or omits or will omit to state any material fact necessary, in
light of the circumstances under which it was or will be made, in order to make the statements herein or therein not misleading. 
 ARTICLE
V 
 COVENANTS 
 5.1.
Closing Efforts. 
 (a) Each of the Parties shall use its Reasonable Best Efforts to take all actions and to do all things necessary,
proper or advisable to consummate the transactions contemplated by this Agreement, including using its Reasonable Best Efforts to ensure that (i) its representations and warranties remain true and correct in all material respects through the
Closing Date and (ii) the conditions to the obligations of the other Party to consummate the transactions contemplated hereby are satisfied. 
 (b) The Trust shall use good faith efforts to cause each employee of the Company or its Subsidiaries (other than Hehenberger) to execute, on or prior to the Closing Date, an agreement, in a form reasonably satisfactory to the Buyer, that
covers assignment of intellectual property rights and confidentiality obligations. 
 5.2. Governmental and Third-Party Notices and
Consents. 
 (a) Each Party shall use its Reasonable Best Efforts to obtain, at its expense, all waivers, permits, consents, approvals or
other authorizations from Governmental Entities, and to effect all registrations, filings and notices with or to Governmental Entities, as may be 
  

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 required for such Party to consummate the transactions contemplated by this Agreement and to otherwise comply with all
applicable laws and regulations in connection with the consummation of the transactions contemplated by this Agreement. 
 (b) The Trust
shall use its Reasonable Best Efforts to obtain (or cause the Company to obtain), at its expense, all such waivers, consents or approvals from third parties, and to give all such notices to third parties, as are required to be listed in the
Disclosure Schedule. 
 5.3. Operation of Business. Except as contemplated by this Agreement, during the period from the date of this
Agreement to the Closing, the Trust shall cause the Company and each Subsidiary to conduct its operations in the Ordinary Course of Business and in compliance with all applicable laws and regulations and, to the extent consistent therewith, use its
Reasonable Best Efforts to preserve intact its current business organization, keep its physical assets in good working condition, keep available the services of its current officers and employees and preserve its relationships with customers,
suppliers and others having business dealings with it to the end that its goodwill and ongoing business shall not be impaired in any material respect. Without limiting the generality of the foregoing, prior to the Closing, the Trust shall cause the
Company and each Subsidiary not to take any of the following actions without the written consent of the Buyer: 
 (a) issue or sell any stock
or other securities of the Company or any Subsidiary or any options, warrants or rights to acquire any such stock or other securities; 
 (b)
split, combine or reclassify any shares of its capital stock; or declare, set aside or pay any dividend or other distribution (whether in cash, stock or property or any combination thereof) in respect of its capital stock; 
 (c) create, incur or assume any indebtedness (including obligations in respect of capital leases); assume, guarantee, endorse or otherwise become liable
or responsible (whether directly, contingently or otherwise) for the obligations of any other person or entity; or make any loans, advances or capital contributions to, or investments in, any other person or entity; 
 (d) enter into, adopt or amend any Employee Benefit Plan or any employment or severance agreement or arrangement of the type described in
Section 3.22(f)or (except for normal increases in the Ordinary Course of Business for employees who are not Affiliates) increase in any manner the compensation or fringe benefits of, or materially modify the employment terms of, its directors,
officers or employees, generally or individually, or pay any bonus or other benefit to its directors, officers or employees (except for existing payment obligations listed in Section 3.22(f) of the Disclosure Schedule) or hire any new officers
or (except in the Ordinary Course of Business) any new employees; 
 (e) acquire, sell, lease, license or dispose of any assets or property
(including any shares or other equity interests in or securities of any Subsidiary or any corporation, partnership, association or other business organization or division thereof), other than purchases and sales of assets in the Ordinary Course of
Business; 
  

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 (f) mortgage or pledge any of its property or assets or subject any such property or assets to any
Security Interest; 
 (g) discharge or satisfy any Security Interest or pay any obligation or liability other than in the Ordinary Course of
Business, except as contemplated by Sections 6.1(f) or 6.1(g); 
 (h) amend its charter, by-laws or other organizational documents;

 (i) change its accounting methods, principles or practices, except insofar as may be required by a generally applicable change in Austrian
GAAP, or make any new elections, or changes to any current elections, with respect to Taxes; 
 (j) enter into, amend, terminate, take or
omit to take any action that would constitute a violation of or default under, or waive any rights under, any contract or agreement of a nature required to be listed in Section 3.12, Section 3.13 or Section 3.15 of the Disclosure
Schedule; 
 (k) form any subsidiary; 
 (l) make or commit to make any capital expenditure in excess of €10,000 per item or €25,000 in the aggregate; 
 (m)
institute or settle any Legal Proceeding, except the Legal Proceeding referred to in Section 6.1(g); 
 (n) take any action or fail to
take any action permitted by this Agreement with the knowledge that such action or failure to take action would result in (i) any of the representations and warranties of the Trust with respect to the Company set forth in this Agreement
becoming untrue or (ii) any of the conditions to the Closing set forth in Article VI not being satisfied; or 
 (o) agree in
writing or otherwise to take any of the foregoing actions. 
 5.4. Access to Information. The Trust shall cause the Company and each
Subsidiary to permit representatives of the Buyer to have full access (at all reasonable times, and in a manner so as not to interfere with the normal business operations of the Company and the Subsidiaries to all premises, properties, financial,
tax and accounting records (including the work papers of the Company’s independent accountants), contracts, other records and documents, and personnel, of or pertaining to the Company and each Subsidiary. 
 5.5. Exclusivity. 
 (a) The Trust
shall not, and the Trust shall not permit the Company to, directly or indirectly, (i) initiate, solicit, encourage or otherwise facilitate any inquiry, proposal, offer or discussion with any party (other than the Buyer) concerning any merger,
reorganization, consolidation, recapitalization, business combination, liquidation, dissolution, share exchange, sale of stock, sale of material assets or similar business transaction involving the Company or 
  

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 any division of the Company, (ii) furnish any non-public information concerning the business, properties or assets
of the Company or any division of the Company to any party (other than the Buyer or as may be necessary in the Ordinary Course of Business) or (iii) engage in discussions or negotiations with any party (other than the Buyer) concerning any such
transaction. 
 (b) The Trust shall immediately notify any party with which discussions or negotiations of the nature described in
paragraph (a) above were pending that the Trust and/or the Company is terminating such discussions or negotiations. If the Trust or the Company receives any inquiry, proposal or offer of the nature described in paragraph (a) above, the
Trust shall, within one business day after such receipt, notify the Buyer of such inquiry, proposal or offer, including the identity of the other party and the terms of such inquiry, proposal or offer. 
 5.6. Expenses. Except as set forth in Article VII, each of the Parties shall bear its own costs and expenses (including legal and accounting fees
and expenses) incurred in connection with this Agreement and the transactions contemplated hereby; provided, however, that if the transactions contemplated hereby are consummated, the Trust shall bear the expenses of the Company. 
 5.7. S-X Financial Statements. The Trust shall deliver to the Buyer, not later than 45 days following the Closing Date (a) consolidated
financial statements for the Company and its Subsidiaries as of and for the fiscal year ending December 31, 2006 which satisfy Buyer’s financial statement reporting obligations with respect to the acquisition of the Company under
Regulation S-X of the SEC (the “S-X Financial Statements”) and (b) a consent of the Company’s auditors to the inclusion of its reports regarding the S-X Financial Statements in Buyer’s 8-K filing with the SEC with
respect to the transactions contemplated hereby; provided that following the Closing the Buyer shall cause Company to make available to the Trust all information in the Company’s possession necessary for the preparation of such financial
statements. 
 ARTICLE VI 
 CONDITIONS TO OBLIGATIONS OF THE PARTIES 
 6.1. Conditions to Obligations of the Buyer. The obligations of the Buyer
under this Agreement are subject to the fulfillment, at the Closing Date, of the following conditions precedent, each of which may be waived in writing in the sole discretion of the Buyer: 
 (a) The representations and warranties of the Trust set forth in Article II, the representations and warranties of the Trust with respect to the Company
set forth in the first sentence of Section 3.1, and in Section 3.2 and any representations and warranties of the Trust (with respect to itself or with respect to the Company) set forth in this Agreement that are qualified as to materiality
shall be true and correct in all respects, and all other representations and warranties of the Trust set forth in this Agreement shall be true and correct in all material respects, in each case as of the date of this Agreement and as of the Closing
as though made as of the Closing, except to the extent such representations and warranties are specifically made as of a particular date (in which case such representations and warranties shall be true and correct as of such date). 
  

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 (b) The Trust shall have performed or complied with in all material respects its agreements and covenants
required to be performed or complied with under this Agreement as of or prior to the Closing. 
 (c) No Legal Proceeding shall be pending or
threatened wherein an unfavorable judgment, order, decree, stipulation or injunction would (i) prevent consummation of the transactions contemplated by this Agreement, (ii) cause the transactions contemplated by this Agreement to be
rescinded following consummation or (iii) have, individually or in the aggregate, a Company Material Adverse Effect, and no such judgment, order, decree, stipulation or injunction shall be in effect. 
 (d) The Trust shall have delivered to the Buyer a certificate to the effect that each of the conditions specified in clauses (a) through
(c) (insofar as clause (c) relates to Legal Proceedings involving the Company or a Subsidiary) of this Section 6.1 is satisfied in all respects. 
 (e) The Trust shall have obtained at its own expense (and shall have provided copies thereof to the Buyer) all of the waivers, permits, consents, approvals or other authorizations, and effected all of the
registrations, filings and notices which are required on the part of the Trust or the Company. 
 (f) The Company shall have paid in full any
amounts owed by it to Buyer, including all accounts payable that are due for payment under their payment terms, and the Trust or the Company shall have delivered to the Buyer a schedule of the accounts payable of the Company as of the Closing Date,
in such form and with such detail as acceptable to the Buyer. 
 (g) Other than normal trade payables less than 60 days old, the Company
shall have no outstanding liabilities, including any and all bank indebtedness, and the Company shall have resolved in full that certain claim against the Company for approximately €300,000 by Desarolles Eolicos S.A. 
 (h) Hehenberger shall have assigned to the Company any and all Intellectual Property Registrations, including without limitation all right, title, and
interest in and to the patents and patent applications set forth in Section 3.11(a) of the Disclosure Schedule; provided that the Company shall bear all costs and expenses of such assignment and the maintenance of such patents or patent rights
following such assignment. 
 (i) Hehenberger and the Company shall have terminated the Patent License Agreement dated October 10, 2005.

 (j) The employment agreement among the Buyer, the Company and Hehenberger dated the date hereof shall be in full force and effect.

 (k) The Buyer shall have received such other certificates and instruments (including without limitation certificates of good standing of
the Company in its jurisdiction of organization and the various foreign jurisdictions in which it is qualified, certified charter documents, certificates as to the incumbency of officers and the adoption of authorizing resolutions) as it shall
reasonably request in connection with the Closing. 
  

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 6.2. Conditions to Obligations of the Trust. The obligations of the Trust under this Agreement are
subject to the fulfillment, at the Closing Date, of the following conditions precedent, each of which may be waived in writing in the sole discretion of the Trust: 
 (a) The representations and warranties of the Buyer set forth in the first sentence of Section 4.1 and in Section 4.2 and any representations and warranties of the Buyer set forth in this Agreement that are
qualified as to materiality shall be true and correct in all respects, and all other representations and warranties of the Buyer set forth in this Agreement shall be true and correct in all material respects, in each case as of the date of this
Agreement and as of the Closing as though made as of the Closing, except to the extent such representations and warranties are specifically made as of a particular date (in which case such representations and warranties shall be true and correct as
of such date). 
 (b) The Buyer shall have performed or complied with in all material respects its agreements and covenants required to be
performed or complied with under this Agreement as of or prior to the Closing. 
 (c) No Legal Proceeding shall be pending or threatened
wherein an unfavorable judgment, order, decree, stipulation or injunction would (i) prevent consummation of the transactions contemplated by this Agreement, (ii) cause the transactions contemplated by this Agreement to be rescinded
following consummation, or (iii) have, individually or in the aggregate, a material adverse effect on the Buyer or its business, and no such judgment, order, decree, stipulation or injunction shall be in effect. 
 (d) The Buyer shall have delivered to the Trust a certificate to the effect that each of the conditions specified in clauses (a) through
(c) (insofar as clause (c) relates to Legal Proceedings involving the Buyer) of this Section 6.2 is satisfied in all respects. 
 (e) The employment agreement among Buyer, Hehenberger and the Company dated the date hereof shall be in full force and effect. 
 (f)
The Trust shall have received such other certificates and instruments (including certificates of good standing of the Buyer in its jurisdiction of organization, certified charter documents, certificates as to the incumbency of officers and the
adoption of authorizing resolutions) as it shall reasonably request in connection with the Closing. 
 ARTICLE VII 
 INDEMNIFICATION 
 7.1.
Indemnification by the Trust. The Trust shall indemnify the Buyer in respect of, and hold it harmless against, any and all Damages incurred or suffered by the Buyer or any Affiliate thereof resulting from, relating to or constituting:

 (a) any breach of any representation or warranty of the Trust contained in this Agreement or any other agreement or instrument furnished by
the Trust to the Buyer pursuant to this Agreement; 
  

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 (b) any failure to perform any covenant or agreement of the Trust contained in this Agreement or any
agreement or instrument furnished by the Trust to the Buyer pursuant to this Agreement; 
 (c) any failure of the Trust to have good, valid
and marketable title to the Shares, free and clear of all Security Interests; or 
 (d) any claim by a stockholder or former stockholder of
the Company, or any other person or entity, seeking to assert, or based upon: (i) ownership or rights to ownership of any shares of the Company; (ii) any rights of a stockholder, including any option, preemptive rights or rights to notice
or to vote; (iii) any rights under the articles of association of the Company; or (iv) any claim that his, her or its shares were wrongfully repurchased by the Company. 
 7.2. Indemnification by the Buyer. The Buyer shall indemnify the Trust in respect of, and hold it harmless against, any and all Damages incurred
or suffered by the Trust resulting from, relating to or constituting: 
 (a) any breach of any representation or warranty of the Buyer
contained in this Agreement or any other agreement or instrument furnished by the Buyer to the Trust pursuant to this Agreement; or 
 (b) any
failure to perform any covenant or agreement of the Buyer contained in this Agreement or any agreement or instrument furnished by the Buyer to the Trust pursuant to this Agreement. 
 7.3. Indemnification Claims. 
 (a) An
Indemnified Party shall give written notification to the Indemnifying Party of the commencement of any Third Party Action. Such notification shall be given within 20 days after receipt by the Indemnified Party of notice of such Third Party Action,
and shall describe in reasonable detail (to the extent known by the Indemnified Party) the facts constituting the basis for such Third Party Action and the amount of the claimed damages; provided, however, that no delay or failure on the part of the
Indemnified Party in so notifying the Indemnifying Party shall relieve the Indemnifying Party of any liability or obligation hereunder except to the extent of any damage or liability caused by or arising out of such failure. Within 20 days after
delivery of such notification, the Indemnifying Party may, upon written notice thereof to the Indemnified Party, assume control of the defense of such Third Party Action with counsel reasonably satisfactory to the Indemnified Party; provided that
(i) the Indemnifying Party may only assume control of such defense if (A) it acknowledges in writing to the Indemnified Party that any damages, fines, costs or other liabilities that may be assessed against the Indemnified Party in
connection with such Third Party Action constitute Damages for which the Indemnified Party shall be indemnified pursuant to this Article VII and (B) the ad damnum is less than or equal to the amount of Damages for which the Indemnifying
Party is liable under this Article VII and (ii) the Indemnifying Party may not assume control of the defense of any Third Party Action involving criminal liability or in which equitable relief is sought against the Indemnified Party. If the
Indemnifying Party does not, or is not permitted under the terms hereof to, so assume 
  

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 control of the defense of a Third Party Action, the Indemnified Party shall control such defense. The Non-controlling
Party may participate in such defense at its own expense. The Controlling Party shall keep the Non-controlling Party advised of the status of such Third Party Action and the defense thereof and shall consider in good faith recommendations made by
the Non-controlling Party with respect thereto. The Non-controlling Party shall furnish the Controlling Party with such information as it may have with respect to such Third Party Action (including copies of any summons, complaint or other pleading
which may have been served on such party and any written claim, demand, invoice, billing or other document evidencing or asserting the same) and shall otherwise cooperate with and assist the Controlling Party in the defense of such Third Party
Action. The fees and expenses of counsel to the Indemnified Party with respect to a Third Party Action shall be considered Damages for purposes of this Agreement if (i) the Indemnified Party controls the defense of such Third Party Action
pursuant to the terms of this Section 7.3(a) or (ii) the Indemnifying Party assumes control of such defense and the Indemnified Party reasonably concludes that the Indemnifying Party and the Indemnified Party have conflicting interests or
different defenses available with respect to such Third Party Action. The Indemnifying Party shall not agree to any settlement of, or the entry of any judgment arising from, any Third Party Action without the prior written consent of the Indemnified
Party, which shall not be unreasonably withheld, conditioned or delayed. The Indemnified Party shall not agree to any settlement of, or the entry of any judgment arising from, any such Third Party Action without the prior written consent of the
Indemnifying Party, which shall not be unreasonably withheld, conditioned or delayed. 
 (b) In order to seek indemnification under this
Article VII, an Indemnified Party shall deliver a Claim Notice to the Indemnifying Party. 
 (c) Within 20 days after delivery of a Claim
Notice, the Indemnifying Party shall deliver to the Indemnified Party a Response, in which the Indemnifying Party shall: (i) agree that the Indemnified Party is entitled to receive all of the Claimed Amount (in which case the Response shall be
accompanied by a payment by the Indemnifying Party to the Indemnified Party of the Claimed Amount, by check or by wire transfer; (ii) agree that the Indemnified Party is entitled to receive the Agreed Amount (in which case the Response shall be
accompanied by a payment by the Indemnifying Party to the Indemnified Party of the Agreed Amount, by check or by wire transfer; or (iii) dispute that the Indemnified Party is entitled to receive any of the Claimed Amount. 
 (d) During the 30-day period following the delivery of a Response that reflects a Dispute, the Indemnifying Party and the Indemnified Party shall use
good faith efforts to resolve the Dispute. If the Parties are unable to resolve the Dispute within such 30-day period, the Dispute will be submitted to arbitration in accordance with Section 7.3(e). 
 (e) Either the Buyer or the Trust may submit an unresolved Dispute referred to in Section 7.3(d) to arbitration by notifying the other Party, in
writing, of such unresolved Dispute. Within 10 days after receipt of such notice, the Buyer and the Trust shall designate in writing one arbitrator to resolve the Dispute; provided, that if the Parties cannot agree on an arbitrator within such
10-day period, the arbitrator shall be selected by the London Court of International Arbitration. The arbitrator so designated shall not be an employee, consultant, officer, director or stockholder of any Party or any Affiliate of any Party. Within
15 days after 
  

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 the designation of the arbitrator, the arbitrator, the Buyer and the Trust shall meet, at which time the Buyer and the
Trust shall be required to set forth in writing all issues and a proposed ruling on each such issue with respect to the Dispute. The arbitrator shall set a date for a hearing, which shall be no later than 30 days after the submission of written
proposals pursuant to this subsection, to discuss each of the issues identified by the Buyer and the Trust relating to the Dispute. Each Party shall have the right to be represented by counsel. The arbitration shall be governed by the rules of the
London Court of International Arbitration; provided, that the arbitrator shall have sole discretion with regard to the admissibility of evidence. The arbitrator shall use his best efforts to rule on the Dispute within 30 days after the completion of
the hearings described above. The determination of the arbitrator as to the resolution of any Dispute shall be binding and conclusive upon each Party. All rulings of the arbitrator shall be in writing and shall be delivered to the Parties. The
prevailing Party in any arbitration shall be entitled to an award of reasonable attorneys’ fees incurred in connection with the arbitration. The non-prevailing Party shall pay such fees, together with the fees of the arbitrator and the costs
and expenses of the arbitration. Any arbitration pursuant to this Section 7.3(e) shall be conducted in London, England. The language of arbitration shall be English. Any arbitration award may be entered in and enforced by any court having
jurisdiction thereover and the Parties hereby consent and commit themselves to the jurisdiction of any state or U.S. Federal court sitting in the Commonwealth of Massachusetts and any provincial or federal court of the Republic of Austria for
purposes of the enforcement of any arbitration award. 
 7.4. Survival of Representations and Warranties. All representations and
warranties that are covered by the indemnification agreements in Section 7.1(a) and Section 7.2(a) shall (a) survive the Closing and (b) shall expire on the date two (2) years following the Closing Date, except that
(i) the representations and warranties set forth in Article II and Sections 3.1, 3.2, 4.1 and 4.2 shall survive the Closing without limitation and (ii) the representations and warranties set forth in Sections 3.9, 3.22 and 3.23
shall survive until 30 days following expiration of all statutes of limitation applicable to the matters referred to therein. If an Indemnified Party delivers to an Indemnifying Party, before expiration of a representation or warranty, either a
Claim Notice based upon a breach of such representation or warranty, or an Expected Claim Notice based upon a breach of such representation or warranty, then the applicable representation or warranty shall survive until, but only for purposes of,
the resolution of the matter covered by such notice. If the legal proceeding or written claim with respect to which an Expected Claim Notice has been given is definitively withdrawn or resolved in favor of the Indemnified Party, the Indemnified
Party shall promptly so notify the Indemnifying Party. The rights to indemnification set forth in this Article VII shall not be affected by (i) any investigation conducted by or on behalf of an Indemnified Party or any knowledge acquired (or
capable of being acquired) by an Indemnified Party, whether before or after the date of this Agreement, with respect to the inaccuracy or noncompliance with any representation, warranty, covenant or obligation which is the subject of indemnification
hereunder or (ii) any waiver by an Indemnified Party of any closing condition relating to the accuracy of representations and warranties or the performance of or compliance with agreements and covenants. 
 7.5. Limitations. 
 (a)
Notwithstanding anything to the contrary herein, (i) the aggregate liability of the Trust for Damages under Section 7.1(a) shall not exceed 50% of the product of (x) the 
  

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 number of Buyer Shares that have been issued by the Buyer to the Trust and may be legally sold by the Trust (or have
already been sold or transferred by the Trust) through the date on which the Buyer delivers a Claim Notice with respect to which such aggregate liability is being calculated and (y) the last sale price per share of the Buyer Common Stock as
reported on the NASDAQ Global Market on such date, and (ii) the Trust shall not be liable under Section 7.1(a) unless and until the aggregate Damages for which it would otherwise be liable under Section 7.1(a) exceeds $25,000 (at
which point the Trust shall become liable for the aggregate Damages under Section 7.1(a), and not just amounts in excess of $25,000); provided that the limitation set forth in this sentence shall not apply to a claim relating to a breach of the
representations and warranties set forth in Article II or Sections 3.1 or 3.2. 
 (b) Notwithstanding anything to the contrary herein,
(i) the aggregate liability of the Buyer for Damages under Section 7.2(a) shall not exceed 50% of the product of (x) the number of Buyer Shares that have been issued by the Buyer to the Trust and may be legally sold by the Trust (or
have already been sold or transferred by the Trust) through the date on which the Trust delivers a Claim Notice with respect to which such aggregate liability is being calculated and (y) the last sale price per share of the Common Stock as
reported on the NASDAQ Global Market on such date, and (ii) the Buyer shall not be liable under Section 7.2(a) unless and until the aggregate Damages under Section 7.2(a) for which it would otherwise be liable exceeds $25,000 (at
which point the Buyer shall become liable for the aggregate Damages under Section 7.2(a), and not just in amounts in excess of $25,000); provided that the limitation set forth in this sentence shall not apply to a claim relating to a breach of
the representations and warranties set forth in Sections 4.1, 4.2 or 4.6 or a breach of its obligations under Article IX. The rights of the Buyer and of the Trust to make indemnification claims shall expire on the date five years after the
Closing Date. 
 (c) The holdback described in Section 7.6 is intended to secure the indemnification obligations of the Trust under this
Agreement. However, the rights of the Buyer under this Article VII shall not be limited to the holdback nor shall the holdback be the exclusive means for the Buyer to enforce such rights. 
 (d) Except with respect to claims based on fraud, after the Closing, the rights of the Indemnified Parties under this Article VII shall be the exclusive
remedy of the Indemnified Parties with respect to claims resulting from or relating to any misrepresentation, breach of warranty or failure to perform any covenant or agreement contained in this Agreement. 
 (e) The Trust shall not have any right of contribution against the Company with respect to any breach by the Company of any of its representations,
warranties, covenants or agreements. 
 7.6. Holdback Provisions. If the Buyer has delivered a Claim Notice or an Expected Claim
Notice pursuant to this Article VII, and such claim or claims have not been paid by the Trust or otherwise resolved, then (subject to the limitations set forth in Section 7.5) the Buyer shall be entitled to hold back (i) that number of
Performance Shares otherwise payable pursuant to Section 1.5 that have a fair market value equal to, and/or (ii) such portion of the payment owed under Section 8.3 as is equal to, the Claimed Amount, less any portion of the Claimed
Amount as has actually been paid by the Trust pursuant to this Article VII. Upon the resolution 
  

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 of any indemnity claim, the Buyer shall be entitled to retain and assume all rights to and ownership of such Performance
Shares, if any, as would otherwise be payable under Section 1.5 and/or the amount, if any, as would otherwise be payable under Section 8.3 as the Buyer is entitled to receive pursuant to the resolution of such indemnity claim (which shall
release the Trust of its obligations to pay such to the Buyer under this Article VII and shall release the Buyer of its obligations to pay such Performance Shares under Section 1.5 and/or such amount under Section 8.3). For purposes of
this Section 7.6, the fair market value of one share of Buyer Common Stock shall be deemed to be the closing price of a share of Buyer Common Stock on the NASDAQ Global Market on the date of the delivery of such Claim Notice or Expected Claim
Notice. 
 ARTICLE VIII 
 POST-CLOSING AGREEMENTS 
 The Trust agrees that from and after the Closing Date: 
 8.1. Proprietary Information. 
 (a)
The Trust and each of its Affiliates shall hold in confidence and shall use their commercially reasonable best efforts to have all officers, directors and personnel who continue after the Closing to be employed by the Trust or any Affiliate thereof
to hold in confidence all knowledge and information of a secret or confidential nature with respect to the business of the Company and not to disclose, publish or make use of the same without the consent of the Buyer, except to the extent that such
information shall have become public knowledge other than by breach of this Agreement by the Trust. 
 (b) If (i) the employment of an
officer, director or other employee of a Trust or any Affiliate thereof, to whom secret or confidential knowledge or information concerning the business of the Company has been disclosed, is terminated and (ii) such individual is subject to an
obligation to maintain such knowledge or information in confidence after such termination, the Trust shall, upon request by the Buyer, take all reasonable steps at its expense to enforce such confidentiality obligation in the event of an actual or
threatened breach thereof. Any legal counsel retained by the Trust in connection with any such enforcement or attempted enforcement shall be selected by the Trust, but shall be subject to the approval of the Buyer, which approval shall not be
unreasonably withheld. 
 (c) The Trust agrees that the remedy at law for any breach of this Section 8.1 would be inadequate and that
the Buyer shall be entitled to injunctive relief in addition to any other remedy it may have upon breach of any provision of this Section 8.1. 
 ARTICLE IX 
 REGISTRATION RIGHTS 
 9.1. Registration of Shares. The Buyer shall file with the SEC, within ninety (90) days following the Closing, the Trust Registration Statement. The Buyer shall use its best efforts to cause the Trust
Registration Statement to be declared effective by the SEC as soon as practicable. The Buyer shall cause the Trust Registration Statement to remain effective until the 
  

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 first anniversary of the Closing Date or such earlier time as all of the Buyer Shares covered by the Trust Registration
Statement have been sold pursuant thereto. 
 9.2. Limitations on Registration Rights. 
 (a) The Buyer may, by written notice to the Trust, (i) delay the filing or effectiveness of the Trust Registration Statement or (ii) suspend the
Trust Registration Statement after effectiveness and require that the Trust immediately cease sales of shares pursuant to the Trust Registration Statement, in the event that (A) the Buyer files a registration statement (other than a
registration statement on Form S-8 or its successor form) with the SEC for a public offering of its securities or (B) the Buyer is engaged in any activity or transaction or preparations or negotiations for any activity or transaction that the
Buyer desires to keep confidential for business reasons, if the Buyer determines in good faith that the public disclosure requirements imposed on the Buyer under the Securities Act in connection with the Trust Registration Statement would require
disclosure of such activity, transaction, preparations or negotiations; provided, however, that the Buyer may not delay the filing of or suspend the Trust Registration Statement for a period in excess of thirty (30) days from the
date of delivery of notice from the Buyer to the Trust pursuant to this Section 9.2(a), and the Buyer may not exercise its rights under this Section 9.2(a) more than once in any 12-month period. 
 (b) If the Buyer delays or suspends the Trust Registration Statement or requires the Trust to cease sales of shares pursuant to paragraph (a) above,
the Buyer shall, as promptly as practicable following the termination of the circumstance which entitled the Buyer to do so, take such actions as may be necessary to file or reinstate the effectiveness of the Trust Registration Statement and/or give
written notice to the Trust authorizing it to resume sales pursuant to the Trust Registration Statement. If as a result thereof the prospectus included in the Trust Registration Statement has been amended to comply with the requirements of the
Securities Act, the Buyer shall provide notice of such amendment to the Trust with the notice to the Trust given pursuant to this paragraph (b), and the Trust shall make no offers or sales of shares pursuant to the Trust Registration Statement other
than by means of such revised prospectus. 
 9.3. Registration Procedures. 
 (a) In connection with the filing by the Buyer of the Trust Registration Statement, the Buyer shall file with the SEC a copy of the prospectus, including
a preliminary prospectus, in conformity with the requirements of the Securities Act. 
 (b) The Buyer shall use its best efforts to register
or qualify the Buyer Shares covered by the Trust Registration Statement under the securities laws of each state of the United States; provided, however, that the Buyer shall not be required in connection with this paragraph (b) to
qualify as a foreign corporation or execute a general consent to service of process in any jurisdiction. 
 (c) If the Buyer has filed with
the SEC preliminary or final prospectuses as part of the Trust Registration Statement and after having done so the prospectus is amended or supplemented to comply with the requirements of the Securities Act, the Buyer shall promptly 
  

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 notify the Trust and, if requested by the Buyer, the Trust shall immediately cease making offers or sales of shares under
the Trust Registration Statement. Following the filing of such amended or supplemented prospectuses, the Trust shall be free to resume making offers and sales under the Trust Registration Statement. 
 (d) The Buyer shall pay the expenses incurred by it in complying with its obligations under this Article IX, including all registration and filing
fees, exchange listing fees, fees and expenses of counsel for the Buyer, and fees and expenses of accountants for the Buyer, but excluding (i) any brokerage fees, selling commissions or underwriting discounts incurred by the Trust in connection
with sales under the Trust Registration Statement and (ii) the fees and expenses of any counsel retained by the Trust. 
 9.4.
Requirements of Trust. 
 (a) The Trust shall furnish to the Buyer in writing such information regarding it and the proposed sale of
Buyer Shares by it as the Buyer may reasonably request in writing in connection with the Trust Registration Statement or as shall be required in connection therewith by the SEC or any state securities law authorities; 
 (b) The Trust shall: 
 (i) indemnify the
Buyer and each of its directors and officers against, and hold the Buyer and each of its directors and officers harmless from, any losses, claims, damages, expenses or liabilities (including reasonable attorneys fees) to which the Buyer or such
directors and officers may become subject by reason of any statement or omission in the Trust Registration Statement made in reliance upon, or in conformity with, a written statement by the Trust furnished pursuant to this Section 9.4; and

 (ii) report to the Buyer sales made pursuant to the Trust Registration Statement. 
 9.5. Indemnification. The Buyer agrees to indemnify and hold harmless the Trust against any losses, claims, damages, expenses or liabilities to
which the Trust may become subject by reason of any untrue statement of a material fact contained in the Trust Registration Statement or any omission to state therein a fact required to be stated therein or necessary to make the statements therein
not misleading, except insofar as such losses, claims, damages, expenses or liabilities arise out of or are based upon information furnished to the Buyer by or on behalf of the Trust for use in the Trust Registration Statement. The Buyer shall have
the right to assume the defense and settlement of any claim or suit for which the Buyer may be responsible for indemnification under this Section 9.5. 
 9.6. Assignment of Rights. The Trust may not assign any of its rights under this Article IX. 
 9.7. Limitations on Sale. Notwithstanding the obligations of the Buyer pursuant to this Article IX, the sale of Buyer Shares by the Trust, whether under the Trust Registration Statement or otherwise, is subject to the following
limitations: 
  

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 (a) The Trust may only sell Buyer Shares through one or more market-makers in Buyer Shares as approved by
Buyer. 
 (b) The Trust will provide notice to Buyer at least sixty (60) days prior to making any sales of Buyer Shares. The Trust will
cooperate with Buyer’s reasonable requests so that such sales of Buyer Shares have a minimal negative impact on the price of a share of Buyer Common Stock, but in no event shall the Buyer require the Trust to delay any desired sale of Buyer
Shares for more than fourteen (14) days. 
 (c) Of the Closing Buyer Shares, the Trust may sell: 
 (i) Five Hundred Eighty Thousand (580,000) Closing Buyer Shares on or after the date on which the Trust Registration Statement is declared
effective; 
 (ii) an additional Three Hundred Sixty Thousand (360,000) Closing Buyer Shares on or after the first anniversary of the
Closing Date; 
 (iii) an additional Two Hundred Forty Thousand (240,000) Closing Buyer Shares on or after the second anniversary of
the Closing Date; and 
 (iv) an additional One Hundred Twenty Thousand (120,000) Closing Buyer Shares on or after the third
anniversary of the Closing Date. 
 (d) The Trust may sell Performance Shares upon receipt thereof subject to the applicable provisions of
Rule 144 of the Securities Act (“Rule 144”). 
 9.8. Buyer Obligations Concerning Rule 144. For a period of two years from
and after the Closing Date, the Buyer agrees to make and keep available adequate current public information about the Buyer, as those terms are understood and defined in section (c) of Rule 144. 
 ARTICLE X 
 TERMINATION

 10.1. Termination of Agreement. The Parties may terminate this Agreement prior to the Closing, as provided below: 

(a) the Parties may terminate this Agreement by mutual written consent; 
 (b) the Buyer may terminate this Agreement by giving written notice to the Trust in the event the Trust is in breach of any representation, warranty or covenant contained in this Agreement, and such breach
(i) individually or in combination with any other such breach, would cause the conditions set forth in clauses (a) or (b) of Section 6.1 not to be satisfied and (ii) is not cured within 20 days following delivery by the
Buyer to the Trust of written notice of such breach; 
 (c) the Trust may terminate this Agreement by giving written notice to the Buyer in
the event the Buyer is in breach of any representation, warranty or covenant contained 
  

 - 33 - 

 in this Agreement, and such breach (i) individually or in combination with any other such breach, would cause
the conditions set forth in clauses (a) or (b) of Section 6.2 not to be satisfied and (ii) is not cured within 20 days following delivery by the Trust to the Buyer of written notice of such breach; 
 (d) the Buyer may terminate this Agreement by giving written notice to the Trust if the Closing shall not have occurred on or before January 31,
2007 by reason of the failure of any condition precedent under Section 6.1 (unless the failure results primarily from a breach by the Buyer of any representation, warranty or covenant contained in this Agreement); or 
 (e) the Trust may terminate this Agreement by giving written notice to the Buyer if the Closing shall not have occurred on or before January 31,
2007 by reason of the failure of any condition precedent under Section 6.2 (unless the failure results primarily from a breach by the Trust of any representation, warranty or covenant contained in this Agreement). 
 10.2. Effect of Termination. If any Party terminates this Agreement pursuant to Section 10.1, all obligations of the Parties hereunder shall
terminate without any liability of any Party to any other Party (except for any liability of any Party for breaches of this Agreement prior to such termination). 
 ARTICLE XI 
 DEFINITIONS 
 For purposes of this Agreement, each of the following terms shall have the meaning set forth below. 
 “Affiliate” shall mean any affiliate, as defined in Rule 12b-2 under the Securities Exchange Act of 1934. 
 “Agreed Amount” shall mean part, but not all, of the Claimed Amount. 
 “Austrian GAAP” shall mean Austrian generally accepted accounting principles. 
 “Buyer” shall have the meaning set forth in the first paragraph of this Agreement. 
 “Buyer Common Stock” shall mean a share of Common Stock of Buyer, $0.01 par value per share. 
 “Buyer Reports” shall mean (a) the Buyer’s Annual Report on Form 10-K for the fiscal year ended March 31, 2006, as
filed with the SEC, and (b) all other reports filed by the Buyer under Section 13 or subsections (a) or (c) of Section 14 of the Exchange Act with the SEC since June 14, 2006. 
 “Buyer Shares” shall have the meaning set forth in Section 1.3. 
 “Claim Notice” shall mean written notification which contains (i) a description of the Damages incurred or reasonably expected to be
incurred by the Indemnified Party and the 
  

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 Claimed Amount of such Damages, to the extent then known, (ii) a statement that the Indemnified
Party is entitled to indemnification under Article VII for such Damages and a reasonable explanation of the basis therefor, and (iii) a demand for payment in the amount of such Damages. 
 “Claimed Amount” shall mean the amount of any Damages incurred or reasonably expected to be incurred by the Indemnified Party.

 “Closing” shall mean the closing of the transactions contemplated by this Agreement. 
 “Closing Buyer Shares” shall have the meaning set forth in Section 1.3. 
 “Closing Date” shall have the meaning set forth in Section 1.4. 
 “Company” shall have the meaning set forth in the first paragraph of this Agreement. 
 “Company Intellectual Property” shall mean the Company Owned Intellectual Property, the Company Licensed Intellectual Property and the
Hehenberger Owned Intellectual Property. 
 “Company Licensed Intellectual Property” shall mean all Intellectual Property
that is licensed to the Company or a Subsidiary by any third party. 
 “Company Material Adverse Effect” shall mean any
material adverse change, event, circumstance or development with respect to, or material adverse effect on, (i) the business, assets, liabilities, capitalization, prospects, condition (financial or other), or results of operations of the
Company, or (ii) the ability of the Buyer to operate the business of the Company immediately after the Closing. For the avoidance of doubt, the parties agree that the terms “material”, “materially” or “materiality”
as used in this Agreement with an initial lower case “m” shall have their respective customary and ordinary meanings, without regard to the meaning ascribed to Company Material Adverse Effect. 
 “Company Owned Intellectual Property” shall mean all Intellectual Property owned or purported to be owned by the Company or a Subsidiary,
in whole or in part. 
 “Company Plan” shall mean any Employee Benefit Plan maintained, or contributed to, by the Company or
any Subsidiary. 
 “Controlling Party” shall mean the party controlling the defense of any Third Party Action. 
 “Company Registrations” shall mean Intellectual Property Registrations that are registered or filed in the name of the Company or any
Subsidiary, alone or jointly with others. 
 “Customer Offerings” shall mean (a) the products (including Software and
Documentation) that the Company or any Subsidiary (i) currently develops, 
  

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 manufactures, markets, distributes, makes available, sells or licenses to third parties, or (ii) has
developed, manufactured, marketed, distributed, made available, sold or licensed to third parties within the previous six years, or (iii) currently plans to develop, manufacture, market, distribute, make available, sell or license to third
parties in the future and (b) the services that the Company or any Subsidiary (i) currently provides or makes available to third parties, or (ii) has provided or made available to third parties within the previous six years, or
(iii) currently plans to provide or make available to third parties in the future. A true and complete list of all Customer Offerings is set forth in Section 3.13(c) of the Disclosure Schedule. 
 “Damages” shall mean any and all debts, obligations and other liabilities (whether absolute, accrued, contingent, fixed or otherwise, or
whether known or unknown, or due or to become due or otherwise), diminution in value, monetary damages, fines, fees, penalties, interest obligations, deficiencies, losses and expenses (including amounts paid in settlement, interest, court costs,
costs of investigators, fees and expenses of attorneys, accountants, financial advisors and other experts, and other expenses of litigation), other than those costs and expenses of arbitration of a Dispute which are to be shared equally by the
Indemnified Party and the Indemnifying Party as set forth in Section 7.3(e)(vi). 
 “Disclosure Schedule” shall mean the
disclosure schedule provided by the Trust to the Buyer on the date hereof. 
 “Dispute” shall mean the dispute resulting if
the Indemnifying Party in a Response disputes its liability for all or part of the Claimed Amount. 
 “Documentation” shall
mean printed, visual or electronic materials, reports, white papers, documentation, specifications, designs, flow charts, code listings, instructions, user manuals, frequently asked questions, release notes, recall notices, error logs, diagnostic
reports, marketing materials, packaging, labeling, service manuals and other information describing the use, operation, installation, configuration, features, functionality, pricing, marketing or correction of a product, whether or not provided to
end user. 
 “Earnout Payment” shall have the meaning set forth in Section 1.5(d). 
 “Earnout Report” shall have the meaning set forth in Section 1.5(f). 
 “Earnout Target” shall have the meaning set forth in Section 1.5(f). 
 “Earnout Year” shall have the meaning set forth in Section 1.5(a). 
 “Employee Benefit Plan” shall mean any written or oral plan, agreement or arrangement involving direct or indirect compensation,
including insurance coverage, severance benefits, disability benefits, deferred compensation, bonuses, stock options, stock purchase, phantom stock, stock appreciation or other forms of incentive compensation or post-retirement compensation.

 “Environmental Law” shall mean any federal, state or local law, statute, ordinance, rule, order, directive, judgment,
Permit or regulation or case law relating to the environment, 
  

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 occupational health and safety, or exposure of persons or other living beings or property to Materials of
Environmental Concern, including without limitation any statute, ordinance, regulation, administrative decision or order pertaining to: (i) the presence of or the treatment, storage, disposal, generation, transportation, handling, distribution,
manufacture, processing, use, import, export, labeling, recycling, registration, investigation or remediation of Materials of Environmental Concern or documentation related to the foregoing; (ii) air, water and noise pollution;
(iii) groundwater and soil contamination; (iv) the release, threatened release, or accidental release into the environment, the workplace or other areas of Materials of Environmental Concern, including emissions, discharges, injections,
spills, escapes or dumping of Materials of Environmental Concern; (v) transfer of interests in or control of real property which may be contaminated; (vi) community or worker right-to-know disclosures with respect to Materials of
Environmental Concern; (vii) the protection of wild life, marine life and wetlands, and endangered and threatened species; (viii) storage tanks, vessels, containers, abandoned or discarded barrels and other closed receptacles; and
(ix) health and safety of employees and other persons. 
 “Expected Claim Notice” shall mean a notice that, as a result
of a legal proceeding instituted by or written claim made by a third party, an Indemnified Party reasonably expects to incur Damages for which it is entitled to indemnification under Article VII. 
 “Exploit” shall mean develop, design, test, modify, make, use, sell, have made, used and sold, import, reproduce, market, distribute,
commercialize, support, maintain, correct and create derivative works of. 
 “Financial Statements” shall mean: 

(a) the audited balance sheets and statements of income, changes in stockholders’ equity and cash flows of the Company as of the end of and for
each of the last three fiscal years, and 
 (b) the Most Recent Balance Sheet and the unaudited statements of income, changes in
stockholders’ equity and cash flows for the nine (9) months ended as of the Most Recent Balance Sheet Date. 
 “Governmental
Entity” shall mean any court, arbitrational tribunal, administrative agency or commission or other governmental or regulatory authority or agency or tax office (Finanzamt). 
 “Hehenberger” shall have the meaning set forth in Section 1.5(e). 
 “Hehenberger Registrations” shall mean all Intellectual Property Registrations owned by or purported to be owned by Hehenberger that are
used in the business of the Company or its Subsidiaries . 
 “Hehenberger Owned Intellectual Property” shall mean all
Intellectual Property owned or purported to be owned by Hehenberger and used in the business of the Company or its Subsidiaries. 
  

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 “Indemnified Party” shall mean a party entitled, or seeking to assert rights, to
indemnification under Article VII. 
 “Indemnifying Party” shall mean the party from whom indemnification is sought by the
Indemnified Party. 
 “Intellectual Property” shall mean the following subsisting throughout the world: 
 (a) Patent Rights; 
 (b) Trademarks and all
goodwill in the Trademarks; 
 (c) copyrights, designs, data and database rights and registrations and applications for registration thereof,
including moral rights of authors; 
 (d) mask works and registrations and applications for registration thereof and any other rights in
semiconductor topologies under the laws of any jurisdiction; 
 (e) inventions, invention disclosures, statutory invention registrations,
trade secrets and confidential business information, know-how, manufacturing and product processes and techniques, research and development information, financial, marketing and business data, pricing and cost information, business and marketing
plans and customer and supplier lists and information, whether patentable or nonpatentable, whether copyrightable or noncopyrightable and whether or not reduced to practice; and 
 (f) other proprietary rights relating to any of the foregoing (including remedies against infringement thereof and rights of protection of interest
therein under the laws of all jurisdictions). 
 “Intellectual Property Registrations” means Patent Rights, registered
Trademarks, registered copyrights and designs, mask work registrations and applications for each of the foregoing. 
 “Internal
Systems” shall mean the Software and Documentation and the computer, communications and network systems (both desktop and enterprise-wide), laboratory equipment, reagents, materials and test, calibration and measurement apparatus used by
the Company or any Subsidiary in their business or operations or to develop, manufacture, fabricate, assemble, provide, distribute, support, maintain or test the Customer Offerings, whether located on the premises of the Company or a Subsidiary or
hosted at a third party site. All Internal Systems that are material to the business of the Company or its Subsidiaries is listed and described in Section 3.13(c) of the Disclosure Schedule. 
 “Lease” shall mean any lease or sublease pursuant to which the Company or any Subsidiary leases or subleases from another party any real
property. 
 “Legal Proceeding” shall mean any action, suit, proceeding, claim, arbitration or investigation before any
Governmental Entity or before any arbitrator. 
  

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 “Materials of Environmental Concern” shall mean any: pollutants, contaminants or
hazardous substances or objects, pesticides, solid wastes and hazardous wastes, chemicals, other hazardous, radioactive or toxic materials, oil, petroleum and petroleum products (and fractions thereof), or any other material (or article containing
such material) listed or subject to regulation under any law, statute, ordinance, rule, regulation, order, Permit, or directive due to its potential, directly or indirectly, to harm the environment or the health of humans or other living beings.

 “Most Recent Balance Sheet” shall mean the unaudited balance sheet of the Company as of the Most Recent Balance Sheet
Date. 
 “Most Recent Balance Sheet Date” shall mean September 30, 2006. 
 “Non-controlling Party” shall mean the party not controlling the defense of any Third Party Action. 
 “Ordinary Course of Business” shall mean the ordinary course of business consistent with past custom and practice (including with respect
to frequency and amount). 
 “Parties” shall mean the Buyer and the Trust. 
 “Patent Rights” shall mean all patents, patent applications, utility models, design registrations and certificates of invention and other
governmental grants for the protection of inventions or industrial designs (including all related continuations, continuations-in-part, divisionals, reissues and reexaminations). 
 “Performance Shares” shall have the meaning set forth in Section 1.3. 
 “Permits” shall mean all permits, licenses, registrations, certificates, orders, approvals, franchises, variances and similar rights
issued by or obtained from any Governmental Entity (including those issued or required under Environmental Laws and those relating to the occupancy or use of owned or leased real property). 
 “Reasonable Best Efforts” shall mean best efforts, to the extent commercially reasonable. 
 “Response” shall mean a written response containing the information provided for in Section 7.3(c). 
 “Revenue” shall have the meaning set forth in Section 1.5(b). 
 “Revenue Objective” shall have the meaning set forth in Section 1.5(b). 
 “Rule 144” shall have the meaning set forth in Section 9.7(d). 
 “Sale Transaction” shall mean: 
  

	 	(a)	any sale, merger or consolidation following the Closing involving the Company where immediately following such sale, merger or consolidation, 

  

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 the Buyer holds less than 50% of the voting power of the Company (or any other entity into which the
Company may be merged or with which it may be consolidated); 
  

	 	(b)	a sale of all or substantially all of the assets of the Company to an entity that is not controlled by the Buyer; 

  

	 	(c)	any merger or consolidation involving the Buyer which results in the voting securities of the Buyer outstanding immediately prior thereto representing immediately thereafter (either
by remaining outstanding or by being converted into voting securities of the surviving or acquiring entity) less than 50% of the combined voting power of the voting securities of the Buyer or such surviving or acquiring entity outstanding
immediately after such merger or consolidation; or 

  

	 	(d)	a sale of all or substantially all of the assets of the Buyer. 

 “SEC” shall mean the Securities and Exchange Commission. 
 “Securities Act” shall mean the
Securities Act of 1933, as amended. 
 “Security Interest” shall mean any mortgage, pledge, security interest, encumbrance,
charge or other lien (whether arising by contract or by operation of law), other than (i) mechanic’s, materialmen’s, and similar liens, (ii) liens arising under worker’s compensation, unemployment insurance, social security,
retirement, and similar legislation and (iii) liens on goods in transit incurred pursuant to documentary letters of credit, in each case arising in the Ordinary Course of Business of the Company and not material to the Company. 
 “S-X Financial Statements” shall have the meaning set forth in Section 5.7. 
 “Shares” shall have the meaning set forth in the first Preliminary Statement. 
 “Software” shall mean computer software code, applications, utilities, development tools, diagnostics, databases and embedded systems,
whether in source code, interpreted code or object code form. 
 “Special Accountants” shall have the meaning set forth in
Section 1.5(g). 
 “Subsidiary” shall mean any corporation, partnership, trust, limited liability company or other
non-corporate business enterprise in which the Company (or another Subsidiary) holds stock or other ownership interests representing (a) more than 50% of the voting power of all outstanding stock or ownership interests of such entity or
(b) the right to receive more than 50% of the net assets of such entity available for distribution to the holders of outstanding stock or ownership interests upon a liquidation or dissolution of such entity. 
  

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 “Taxes” shall mean all taxes, charges, fees, levies or other similar assessments or
liabilities, including income, gross receipts, ad valorem, premium, value-added, excise, real property, personal property, sales, use, transfer, withholding, employment, unemployment, insurance, social security, business license, business
organization, environmental, workers compensation, payroll, profits, license, lease, service, service use, severance, stamp, occupation, windfall profits, customs, duties, franchise and other taxes imposed by Austria or any state, local or foreign
government, or any agency thereof, or other political subdivision of Austria or any such government, and any interest, fines, penalties, assessments or additions to tax resulting from, attributable to or incurred in connection with any tax or any
contest or dispute thereof. 
 “Tax Returns” shall mean all reports, returns, declarations, statements or other information
required to be supplied to a taxing authority in connection with Taxes. 
 “Third Party Action” shall mean any suit or
proceeding by a person or entity other than a Party for which indemnification may be sought by a Party under Article VII. 
 “to the
knowledge of the Trust” and any phrase of similar import shall mean the actual knowledge of Hehenberger, as well as any other knowledge which such persons would have possessed had they made reasonable inquiry of appropriate employees and agents
of the Company with respect to the matter in question. 
 “Trademarks” shall mean all registered trademarks and service
marks, logos, Internet domain names, corporate names and doing business designations and all registrations and applications for registration of the foregoing, common law trademarks and service marks and trade dress. 
 “Trust” shall have the meaning set forth in the first paragraph of this Agreement. 
 “Trust Registration Statement” shall mean a registration statement on Form S-3 covering the resale to the public by the Trust of 580,000
Closing Buyer Shares. 
 “US GAAP” shall mean United States generally accepted accounting principles. 
 “Year 1,” “Year 2,” “Year 3” and “Year 4” shall have the meanings set forth in
Section 1.5(a). 
 ARTICLE XII 
 MISCELLANEOUS 
 12.1. Press Releases and Announcements. No Party shall issue any press release or public announcement
relating to the subject matter of this Agreement without the prior written approval of the other Parties; provided, however, that the Buyer may make any public disclosure it believes in good faith is required by applicable law, regulation or stock
market rule. 
 12.2. Notices. Any notices or other communications required or permitted hereunder shall be sufficiently given if
delivered personally or sent by telex, federal express, registered or 
  

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 certified mail, postage prepaid, addressed as follows or to such other address of which the parties may have given
notice: 
  

			
	To the Buyer:	  	 American Superconductor Corporation
 Two Technology
Drive
 Westborough, MA 01581
 Attn: Thomas M. Rosa,
VP,
 Chief Financial Officer and Treasurer
 Fax: (508)
836-4248
 E-mail: trosa@amsuper.com

		
	With a copy to:	  	 WilmerHale
 60 State Street
 Boston, MA 02109
 Attn: Patrick J. Rondeau, Esq.
 Fax: (617) 526-5000
 E-mail:
patrick.rondeau@wilmerhale.com

		
	To the Trust:	  	 Gerald Hehenberger Privatstiftung
 Kempstrasse
23
 A-9020 Klagenfurt
 Austria
 Attn: Dr. Hubert Huber
 Fax ++43-463-565-8820
 E-mail: office@kwt-huber.at

		
	With a copy to:	  	 Law Offices of Kurt A. Wagner, P.C.
 780 Lee Street,
Suite 102
 Des Plaines, IL 60016
 Attn: Kurt Wagner
 Fax: (847) 759-9834
 E-mail: wagner@wagneruslaw.com

 Unless otherwise specified herein, such notices or other communications shall be deemed received (a) on the
date delivered, if delivered personally, (b) ten business days after being sent, if sent by registered or certified mail, or (c) on the date delivered, if delivered by fax transmission or e-mail to the fax number or e-mail address, as
applicable, set forth above. 
 12.3. Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the
Parties hereto and their respective successors and assigns, except that the Buyer, on the one hand, and the Trust, on the other hand, may not assign their respective obligations hereunder without the prior written consent of the other Party;
provided, however, that the Buyer may assign this Agreement, and its rights and obligations hereunder, to a subsidiary or Affiliate of the Buyer. Any assignment in contravention of this provision shall be void. No assignment shall release the Buyer
or the Trust from any obligation or liability under this Agreement. 
  

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 12.4. Entire Agreement; Amendments; Attachments. This Agreement, all Schedules and Exhibits
hereto, and all agreements and instruments to be delivered by the Parties pursuant hereto represent the entire understanding and agreement between the Parties hereto with respect to the subject matter hereof and supersede all prior oral and written
and all contemporaneous oral negotiations, commitments and understandings between such Parties. The Buyer, by the consent of its Board of Directors or officers authorized by such Board, and the Trust may amend or modify this Agreement, in such
manner as may be agreed upon, by a written instrument executed by the Buyer and the Trust. If the provisions of any Schedule or Exhibit to this Agreement are inconsistent with the provisions of this Agreement, the provisions of the Agreement shall
prevail. The Exhibits and Schedules attached hereto or to be attached hereafter are hereby incorporated as integral parts of this Agreement. 
 12.5. Severability. Any provision of this Agreement which is invalid, illegal or unenforceable in any jurisdiction shall, as to that jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability,
without affecting in any way the remaining provisions hereof in such jurisdiction or rendering that or any other provision of this Agreement invalid, illegal or unenforceable in any other jurisdiction. 
 12.6. No Third Party Beneficiaries. This Agreement shall not confer any rights or remedies upon any person other than the Parties and their
respective successors and permitted assigns. 
 12.7. Governing Law. This Agreement (including the validity and applicability of the
arbitration provisions of this Agreement, the conduct of any arbitration of a Dispute, the enforcement of any arbitral award made hereunder and any other questions of arbitration law or procedure arising hereunder) shall be governed by and construed
in accordance with the internal laws of the Commonwealth of Massachusetts. 
 12.8. Arbitration. All disputes arising out of or in
connection with this Agreement shall be finally settled under the rules of the London Court of International Arbitration by one or more arbitrators appointed in accordance with such rules. The place of arbitration shall be London, England. The
language of arbitration shall be English. 
 12.9. Attorneys’ Fees. In any arbitration initiated under this Agreement to enforce
the terms of this Agreement, or any legal action initiated to enforce any such arbitration award, the prevailing party shall be entitled to reasonable attorneys’ fees, costs and necessary disbursements, in addition to any other relief to which
such party may be entitled. 
 12.10. Section Headings. The section headings are for the convenience of the parties and in no way
alter, modify, amend, limit, or restrict the contractual obligations of the parties. 
 12.11. Counterparts and Facsimile Signature.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument. This Agreement may be executed by facsimile signature. 
  

 - 43 - 

 IN WITNESS WHEREOF, this Agreement has been duly executed by the parties hereto as of and on the date
first above written. 
  

			
	BUYER:
	
	AMERICAN SUPERCONDUCTOR CORPORATION
		
	By:	 	 /s/ Gregory J. Yurek

		 	Gregory J. Yurek
	Title:	 	President and Chief Executive Officer
	
	TRUST:
	
	GERALD HEHENBERGER PRIVATSTIFTUNG
	
	 /s/ Gerald Hehenberger

	Member of the Management Board
		
	Address:	 	Kempfstrasse 23
		 	A-9020 Klagenfurt
	
	 /s/ Hubert Huber

	Member of the Management Board
		
	Address:	 	Kempfstrasse 23
		 	A-9020 Klagenfurt

  

 - 44 -Amended and Restated Trust Agreement

 Exhibit 4.1 
 CAPITAL ONE AUTO FINANCE TRUST 2006-C 
 AMENDED AND RESTATED 
 TRUST AGREEMENT 
 between

 CAPITAL ONE AUTO RECEIVABLES, LLC, 
 as the Depositor 
 and 
 WILMINGTON TRUST COMPANY, 
 as the Owner Trustee 
 Dated as of November 22, 2006 

 TABLE OF CONTENTS 
  

							
	 	    	 	 	 	  	Page
	ARTICLE I DEFINITIONS	  	1
				
		    	SECTION 1.1.	 	Capitalized Terms	  	1
		    	SECTION 1.2.	 	Other Interpretive Provisions	  	1
		
	 ARTICLE II ORGANIZATION
	  	2
				
		    	SECTION 2.1.	 	Name	  	2
		    	SECTION 2.2.	 	Office	  	2
		    	SECTION 2.3.	 	Purposes and Powers	  	2
		    	SECTION 2.4.	 	Appointment of the Owner Trustee	  	3
		    	SECTION 2.5.	 	Initial Capital Contribution of Trust Estate	  	3
		    	SECTION 2.6.	 	Declaration of Trust	  	3
		    	SECTION 2.7.	 	Organizational Expenses; Liabilities of the Holders	  	3
		    	SECTION 2.8.	 	Title to the Trust Estate	  	4
		    	SECTION 2.9.	 	Representations and Warranties of the Seller	  	4
		    	SECTION 2.10.	 	Situs of Issuer	  	5
		
	ARTICLE III RESIDUAL INTEREST AND TRANSFER OF CERTIFICATE	  	5
				
		    	SECTION 3.1.	 	Initial Ownership	  	5
		    	SECTION 3.2.	 	Authorization of the Certificates	  	5
		    	SECTION 3.3.	 	Form of the Certificate	  	5
		    	SECTION 3.4.	 	Registration of Certificates	  	6
		    	SECTION 3.5.	 	Transfer of Certificate	  	6
		    	SECTION 3.6.	 	Lost, Stolen, Mutilated or Destroyed Certificates	  	7
		
	ARTICLE IV ACTIONS BY OWNER TRUSTEE	  	8
				
		    	SECTION 4.1.	 	Prior Notice to Residual Interestholder with Respect to Certain Matters	  	8
		    	SECTION 4.2.	 	Action by Residual Interestholder with Respect to Certain Matters	  	8
		    	SECTION 4.3.	 	Action by Residual Interestholder with Respect to Bankruptcy	  	8
		    	SECTION 4.4.	 	Restrictions on Residual Interestholder’s Power	  	9
		    	SECTION 4.5.	 	Majority Control	  	9
		    	SECTION 4.6.	 	Rights of Note Insurer	  	9
		
	ARTICLE V APPLICATION OF TRUST FUNDS; CERTAIN DUTIES	  	9
				
		    	SECTION 5.1.	 	Application of Trust Funds	  	9
		    	SECTION 5.2.	 	Method of Payment	  	9
		    	SECTION 5.3.	 	Sarbanes-Oxley Act	  	10
		    	SECTION 5.4.	 	Signature on Returns	  	10

  

 -i- 

 TABLE OF CONTENTS 
 (continued) 
  

							
	 	  	Page
	ARTICLE VI AUTHORITY AND DUTIES OF OWNER TRUSTEE	  	10
				
		    	SECTION 6.1.	 	General Authority	  	10
		    	SECTION 6.2.	 	General Duties	  	10
		    	SECTION 6.3.	 	Action upon Instruction	  	11
		    	SECTION 6.4.	 	No Duties Except as Specified in this Agreement or in Instructions	  	11
		    	SECTION 6.5.	 	No Action Except under Specified Documents or Instructions	  	12
		    	SECTION 6.6.	 	Restrictions	  	12
		
	ARTICLE VII CONCERNING OWNER TRUSTEE	  	12
				
		    	SECTION 7.1.	 	Acceptance of Trusts and Duties	  	12
		    	SECTION 7.2.	 	Furnishing of Documents	  	14
		    	SECTION 7.3.	 	Representations and Warranties	  	14
		    	SECTION 7.4.	 	Reliance; Advice of Counsel	  	15
		    	SECTION 7.5.	 	Not Acting in Individual Capacity	  	15
		    	SECTION 7.6.	 	The Owner Trustee May Own Notes	  	15
		
	ARTICLE VIII COMPENSATION OF OWNER TRUSTEE	  	16
				
		    	SECTION 8.1.	 	The Owner Trustee’s Compensation	  	16
		    	SECTION 8.2.	 	Indemnification	  	16
		    	SECTION 8.3.	 	Payments to the Owner Trustee	  	16
		
	ARTICLE IX TERMINATION OF TRUST AGREEMENT	  	17
				
		    	SECTION 9.1.	 	Termination of Trust Agreement	  	17
		    	SECTION 9.2.	 	Dissolution of the Issuer	  	17
		    	SECTION 9.3.	 	Limitations on Termination	  	17
		
	ARTICLE X SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES	  	17
				
		    	SECTION 10.1.	 	Eligibility Requirements for the Owner Trustee	  	17
		    	SECTION 10.2.	 	Resignation or Removal of the Owner Trustee	  	18
		    	SECTION 10.3.	 	Successor Owner Trustee	  	18
		    	SECTION 10.4.	 	Merger or Consolidation of the Owner Trustee	  	19
		    	SECTION 10.5.	 	Appointment of Co-Trustee or Separate Trustee	  	19
		
	ARTICLE XI MISCELLANEOUS	  	21
				
		    	SECTION 11.1.	 	Amendments	  	21
		    	SECTION 11.2.	 	No Legal Title to Trust Estate in Residual Interestholder	  	22
		    	SECTION 11.3.	 	Limitations on Rights of Others	  	22
		    	SECTION 11.4.	 	Notices	  	22
		    	SECTION 11.5.	 	Severability	  	23
		    	SECTION 11.6.	 	Separate Counterparts	  	23

  

 -ii- 

 TABLE OF CONTENTS 
 (continued) 
  

							
	 	    	 	 	 	  	Page
		    	SECTION 11.7.	 	Successors and Assigns	  	23
		    	SECTION 11.8.	 	No Petition	  	23
		    	SECTION 11.9.	 	Headings	  	24
		    	SECTION 11.10.	 	GOVERNING LAW	  	24
		    	SECTION 11.11.	 	Limitation of Rights	  	24
		    	SECTION 11.12.	 	Information to Be Provided by the Owner Trustee	  	25
		    	SECTION 11.13.	 	Information Request	  	25

  

 -iii- 

 This AMENDED AND RESTATED TRUST AGREEMENT is made as of November 22, 2006 (as from
time to time amended, supplemented or otherwise modified and in effect, this “Agreement”) between CAPITAL ONE AUTO RECEIVABLES, LLC, a Delaware limited liability company, as the depositor (the “Seller”), and
WILMINGTON TRUST COMPANY, a Delaware banking corporation, as the owner trustee (the “Owner Trustee”). 
 RECITALS

 WHEREAS, the Seller and the Owner Trustee entered into that certain Trust Agreement dated as of October 20, 2006 (the
“Original Trust Agreement”), pursuant to which the Issuer (as defined below) was created; and 
 WHEREAS, in connection with
the issuance of the Notes, the parties have agreed to amend and restate the Original Trust Agreement; 
 NOW THEREFORE, in consideration of
the mutual agreements herein contained, and of other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties agree as follows: 
 ARTICLE I 
 DEFINITIONS 
 SECTION 1.1. Capitalized Terms. Unless otherwise indicated, capitalized terms used in this Agreement are defined in Appendix A to the Sale
and Servicing Agreement dated as of the date hereof (as from time to time amended, supplemented or otherwise modified and in effect, the “Sale and Servicing Agreement”) among the Issuer, the Seller, Capital One Auto Finance, Inc.,
as Servicer, and The Bank of New York, as Indenture Trustee, as the same may be amended, modified or supplemented from time to time. 
 SECTION 1.2. Other Interpretive Provisions. All terms defined in this Agreement shall have the defined meanings when used in any certificate or other document delivered pursuant hereto unless otherwise defined therein. For purposes
of this Agreement and all such certificates and other documents, unless the context otherwise requires: (a) accounting terms not otherwise defined in this Agreement, and accounting terms partly defined in this Agreement to the extent not defined,
shall have the respective meanings given to them under generally accepted accounting principles; (b) terms defined in Article 9 of the UCC as in effect in the State of Delaware and not otherwise defined in this Agreement are used as defined in that
Article; (c) the words “hereof,” “herein” and “hereunder” and words of similar import refer to this Agreement as a whole and not to any particular provision of this Agreement; (d) references to any Article, Section,
Schedule or Exhibit are references to Articles, Sections, Schedules and Exhibits in or to this Agreement, and references to any paragraph, subsection, clause or other subdivision within any Section or definition refer to such paragraph, subsection,
clause or other subdivision of such Section or definition; (e) the term “including” means “including without limitation”; (f) references to any law or regulation refer to that law or regulation as amended from time to time and
include any successor law or regulation; and (g) references to any Person include that Person’s successors and assigns. 

 ARTICLE II 
 ORGANIZATION 
 SECTION 2.1. Name. The trust created under the Original Trust Agreement shall
be known as “Capital One Auto Finance Trust 2006-C” (the “Issuer”), in which name the Owner Trustee may conduct the business of such trust, make and execute contracts and other instruments on behalf of such trust and sue
and be sued. 
 SECTION 2.2. Office. The office of the Issuer shall be in care of the Owner Trustee at the Corporate Trust Office or
at such other address as the Owner Trustee may designate by written notice to the Residual Interestholder, the Seller and the Administrator. 
 SECTION 2.3. Purposes and Powers. The purpose of the Issuer is, and the Issuer shall have the power and authority, to engage in the following activities: 
 (a) to issue the Notes pursuant to the Indenture and, if so requested by the Residual Interestholder, to issue the Certificate(s),
pursuant to this Agreement, and to sell, transfer and exchange the Notes and the Certificate(s) and to pay interest on and principal of the Notes and distributions to the Residual Interestholder; 
 (b) to enter into and perform its obligations under any interest rate protection agreement or agreements relating to the Notes between the
Issuer and one or more counterparties, including any confirmations, evidencing the transactions thereunder, each of which is an interest rate swap, an interest rate cap, an obligation to enter into any of the foregoing, or any combination of any of
the foregoing; 
 (c) to acquire the property and assets set forth in the Sale and Servicing Agreement from the Seller
pursuant to the terms thereof, to make deposits to and withdrawals from the Collection Account, the Principal Distribution Account, the Reserve Account and the Pre-Funding Account and to pay the organizational, start-up and transactional expenses of
the Issuer; 
 (d) to assign, Grant, transfer, pledge, mortgage and convey the Trust Estate pursuant to the Indenture and to
hold, manage and distribute to the Residual Interestholder any portion of the Trust Estate released from the lien of, and remitted to the Issuer pursuant to, the Indenture; 
 (e) to enter into and perform its obligations under the Transaction Documents to which it is a party; 
 (f) to engage in those activities, including entering into agreements, that are necessary, suitable or convenient to accomplish the
foregoing or are incidental thereto or connected therewith; and 
  

 2 

 (g) subject to compliance with the Transaction Documents, to engage in such other
activities as may be required in connection with conservation of the Trust Estate and the making of distributions to the Residual Interestholder and the Noteholders. 
 The Owner Trustee is hereby authorized to engage in the foregoing activities on behalf of the Issuer. Neither the Issuer nor the Owner Trustee on behalf of the Issuer shall engage in any activity other than in
connection with the foregoing or other than as required or authorized by the terms of this Agreement or the other Transaction Documents. 
 SECTION 2.4. Appointment of the Owner Trustee. The Seller hereby appoints the Owner Trustee as trustee of the Issuer effective as of the date hereof, to have all the rights, powers and duties set forth herein. 
 SECTION 2.5. Initial Capital Contribution of Trust Estate. As of the date of the Original Trust Agreement, the Seller sold, assigned,
transferred, conveyed and set over to the Owner Trustee the sum of $1. The Owner Trustee hereby acknowledges receipt in trust from the Seller, as of such date, of the foregoing contribution, which shall constitute the initial Trust Estate and shall
be deposited in the Collection Account. 
 SECTION 2.6. Declaration of Trust. The Owner Trustee hereby declares that it will hold the
Trust Estate in trust upon and subject to the conditions set forth herein for the use and benefit of the Residual Interestholder, subject to the obligations of the Issuer under the Transaction Documents. It is the intention of the parties hereto
that the Issuer constitute a statutory trust under the Statutory Trust Statute and that this Agreement constitute the governing instrument of such statutory trust. It is the intention of the parties hereto that, solely for income and franchise tax
purposes, the Issuer will be disregarded as an entity separate from the Seller, the Seller will be disregarded as an entity separate from COAF and the Notes will be characterized as debt. The parties agree that, unless otherwise required by
appropriate tax authorities, the Issuer will not file or cause to be filed annual or other necessary returns, reports and other forms consistent with the characterization of the Issuer as an entity separate from its owner. In the event that the
Issuer is deemed to have more than one beneficial owner for federal income tax purposes, the Issuer will file returns, reports and other forms consistent with the characterization of the Issuer as a partnership, and this Agreement shall be amended
to include such provisions as may be required under Subchapter K of the Internal Revenue Code of 1986, as amended. Effective as of the date hereof, the Owner Trustee shall have all rights, powers and duties set forth herein and in the Statutory
Trust Statute with respect to accomplishing the purposes of the Issuer. The Owner Trustee filed the Certificate of Trust with the Secretary of State of the State of Delaware as required by Section 3810(a) of the Statutory Trust Statute.
Notwithstanding anything herein or in the Statutory Trust Statute to the contrary, it is the intention of the parties hereto that the Issuer constitute a “business trust” within the meaning of Section 101(9)(A)(v) of the Bankruptcy Code.

 SECTION 2.7. Organizational Expenses; Liabilities of the Holders. 
 (a) The Servicer shall pay organizational expenses of the Issuer as they may arise. 
  

 3 

 (b) No Residual Interestholder (including the Seller) shall have any personal liability
for any liability or obligation of the Issuer. 
 SECTION 2.8. Title to the Trust Estate. Legal title to all of the Trust Estate shall
be vested at all times in the Issuer as a separate legal entity. 
 SECTION 2.9. Representations and Warranties of the Seller. The
Seller hereby represents and warrants to the Owner Trustee that: 
 (a) Existence and Power. The Seller is a Delaware
limited liability company validly existing and in good standing under the laws of the State of Delaware and has, in all material respects, full power and authority to own its assets and operate its business as presently owned or operated, and to
execute, deliver and perform its obligations under the Transaction Documents to which it is a party. The Seller has obtained all necessary licenses and approvals in all jurisdictions where the failure to do so would materially and adversely affect
the ability of the Seller to perform its obligations under the Transaction Documents and the Underwriting Agreement. 
 (b)
Authorization and No Contravention. The execution, delivery and performance by the Seller of the Underwriting Agreement and each Transaction Document to which it is a party (i) have been duly authorized by all necessary action on the
part of the Seller and (ii) do not violate or constitute a default under (A) any applicable law, rule or regulation, (B) its organizational instruments or (C) any material indenture or material agreement or instrument to which
the Seller is a party or by which it its properties are bound (other than violations of such laws, rules, regulations, indenture or agreements which do not affect the legality, validity or enforceability of any of such agreements and which,
individually or in the aggregate, would not materially and adversely affect the transactions contemplated by, or the Seller’s ability to perform its obligations under, the Transaction Documents to which it is a party). 
 (c) No Consent Required. No approval, authorization or other action by, or filing with, any Governmental Authority is required in
connection with the execution, delivery and performance by the Seller of any Transaction Document other than UCC filings and other than (i) approvals and authorizations that have previously been obtained and filings which have previously been
made and (ii) approvals, authorizations or filings which, if not obtained or made, would not have a material adverse effect on the ability of the Seller to perform its obligations under the Underwriting Agreement or the Transaction Documents to
which it is a party. 
 (d) Binding Effect. The Underwriting Agreement and each Transaction Document to which the
Seller is a party constitutes the legal, valid and binding obligation of the Seller enforceable against the Seller in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium, receivership, conservatorship or other similar laws affecting creditors’ rights generally and, if applicable the rights of creditors of limited liability companies from time to time in effect or by general principles of equity or
other similar laws of general application relating to or affecting the enforcement of creditors’ rights generally and subject to general principles of equity. 
  

 4 

 (e) No Proceedings. There are no actions, orders, suits or proceedings pending or,
to the knowledge of the Seller, threatened against the Seller before or by any Governmental Authority that (i) assert the invalidity or unenforceability of this Agreement or any of the other Transaction Documents, (ii) seek to prevent the
issuance of the Notes or the consummation of any of the transactions contemplated by this Agreement or any of the other Transaction Documents or (iii) seek any determination or ruling that would materially and adversely affect the performance
by the Seller of its obligations under this Agreement or any of the other Transaction Documents. 
 SECTION 2.10. Situs of Issuer. The
Issuer shall be located and administered in the State of Delaware. All bank accounts maintained by the Owner Trustee on behalf of the Issuer shall be located in the State of Delaware or the State of New York. The Issuer shall not have any employees
in any state; provided, however, that nothing herein shall restrict or prohibit the Owner Trustee from having employees within or without the State of Delaware. Payments will be received by the Issuer only in Delaware or New York and
payments will be made by the Issuer only from Delaware or New York. 
 ARTICLE III 
 RESIDUAL INTEREST AND TRANSFER OF CERTIFICATE 
 SECTION 3.1. Initial Ownership. As of the Closing Date, the Residual Interest shall be an uncertificated interest. Until the issuance of one or more Certificates pursuant to Section 3.2, the Seller as the initial Residual
Interestholder shall be the sole beneficiary of the Issuer. On the Closing Date, the Owner Trustee shall record on the books and records of the Issuer that the Seller is the owner of the Residual Interest. The Seller shall only sell, assign, pledge,
or otherwise transfer the Residual Interest if the Residual Interest is in certificated form. 
 SECTION 3.2. Authorization of the
Certificates. The Seller, in its sole discretion, may request the Owner Trustee to issue a Certificate or Certificates to represent the Residual Interest. Upon request by the Seller pursuant to this Section 3.2, the Owner Trustee shall
cause the Certificate or Certificates to be executed on behalf of the Issuer, authenticated and delivered to or upon the written order of the Seller, signed by its chairman of the board, its president, its chief financial officer, its chief
accounting officer, any vice president, its secretary, any assistant secretary, its treasurer or any assistant treasurer, without further corporate action by the Seller. The Certificate or Certificates shall represent 100% of the beneficial interest
in the Issuer and shall be fully paid and nonassessable. 
 SECTION 3.3. Form of the Certificate. Each Certificate, upon issuance,
will be issued in the form of a typewritten Certificate representing a definitive Certificate and shall be registered in the name of “Capital One Auto Receivables, LLC” as the initial registered owner thereof. 
  

 5 

 SECTION 3.4. Registration of Certificates. The Owner Trustee shall maintain at its office referred
to in Section 2.2, or at the office of any agent appointed by it and approved in writing by the Residual Interestholder at the time of such appointment, a register for the registration and transfer of any Certificate. 
 SECTION 3.5. Transfer of Certificate. (a) The Certificateholder may assign, convey or otherwise transfer all or any of its right, title and
interest in the Certificate; provided, that (i) the Rating Agency Condition is satisfied, (ii) the Owner Trustee and the Issuer receive an Opinion of Counsel stating that, in the opinion of such counsel, such transfer will not cause the
Issuer to be treated as a publicly traded partnership for federal income tax purposes, (iii) the Certificate is not acquired by or for the account of or with the assets of (A) an employee benefit plan (as defined in Section 3(3) of ERISA) that is
subject to the provision of Title I of ERISA, (B) a plan described in Section 4975(e)(1) of the Code or (C) any entity whose underlying assets include plan assets by reason of an employee benefit plan’s or other plan’s investment in the
entity and (iv) if the Certificateholder is a governmental plan, certain church plan or foreign plan, it shall be deemed to represent, warrant and covenant that its acquisition, holding and disposition of the Certificate or interest therein will not
result in a nonexempt prohibited transaction under, or a violation of, any applicable law that is substantially similar to ERISA or Section 4975 of the Code. Subject to the transfer restrictions contained herein and in the Certificate, the
Certificateholder may transfer all or any portion of the beneficial interest in the Issuer evidenced by such Certificate upon surrender thereof to the Owner Trustee accompanied by the documents required by this Section. Such transfer may be made by
the registered Certificateholder in person or by his attorney duly authorized in writing upon surrender of the Certificate to the Owner Trustee accompanied by a written instrument of transfer and with such signature guarantees and evidence of
authority of the Persons signing the instrument of transfer as the Owner Trustee may reasonably require. Promptly upon the receipt of such documents and receipt by the Owner Trustee of the transferor’s Certificate, the Owner Trustee shall
record the name of such transferee as a Certificateholder and its percentage of beneficial interest in the Issuer in the Certificate register and issue, execute and deliver to such Certificateholder a Certificate evidencing such beneficial interest
in the Issuer. In the event a transferor transfers only a portion of its beneficial interest in the Issuer, the Owner Trustee shall register and issue, to such transferor a new Certificate evidencing such transferor’s new percentage of
beneficial interest in the Issuer. Subsequent to a transfer and upon the issuance of the new Certificate or Certificates, the Owner Trustee shall cancel and destroy the Certificate surrendered to it in connection with such transfer. The Owner
Trustee may treat the Person in whose name any Certificate is registered as the sole owner of the beneficial interest in the Issuer evidenced by such Certificate. 
 (b) As a condition precedent to any registration of transfer under this Section 3.5, the Owner Trustee may require the payment
of a sum sufficient to cover the payment of any tax or taxes or other governmental charges required to be paid in connection with such transfer. 
 (c) The Owner Trustee shall not be obligated to register any transfer of a Certificate unless each of the transferor and the transferee have certified to the Owner Trustee that such transfer does not violate any of
the transfer restrictions stated herein. 
  

 6 

 The Owner Trustee shall not be liable to any Person for registering any transfer based on such
certifications. 
 (c) Notwithstanding anything to the contrary in this Agreement, no transfer (or purported transfer) of any
Certificate (or any economic interest therein, including any contract described in Treasury Regulation section 1.7704-1(a)(2)(i)(B)) shall be effective, and any such transfer (or purported transfer) shall be void ab initio, if after such transfer
(or purported transfer) there would be more than 50 Certificateholders (where, for purposes of determining the number of Certificateholders, a person (beneficial owner) owning an interest in a partnership, grantor trust, or S corporation
(“flow-through entity”), that owns, directly or through other flow-through entities, an interest in the Issuer, is treated as a Certificateholder if more than 50 percent of the value of such beneficial owner’s interest in the
flow-through entity is attributable to the flow-through entity’s interest (direct or indirect) in the Issuer) or such transfer would otherwise cause the Issuer to become a publicly traded partnership for U.S. federal income tax purposes;

 (d) No transfer (or purported transfer) of a Certificate (or economic interest therein), whether to another
Certificateholder or to a person who is not a Certificateholder, shall be effective, and any such transfer (or purported transfer) shall be void ab initio, and no person shall otherwise become a Certificateholder, and none of the Issuer, the Owner
Trustee or any of the Certificateholders will recognize such transfer (or purported transfer), unless the transferee has first represented and warranted in writing to the Issuer and the Certificateholders that: 
 (i) it is acquiring the Certificates for its own account and is the sole beneficial owner of such Certificates; 
 (ii) the transfer is not being effected on or through (x) an “established securities market” within the meaning of
Section 7704(a)(1) of the Code, including without limitation, an over-the-counter market or an interdealer quotation system that regularly disseminates firm buy or sell quotations or (y) a “secondary market” or “substantial
equivalent thereof” within the meaning of Section 7704(a)(2) of the Code and any proposed, temporary or final Treasury regulations thereunder; and 
 (iii) such transfer will not cause the Issuer to be classified as a publicly traded partnership for U.S. federal income tax purposes, and
such purchaser or transferee will not take any action, including any subsequent disposition of such Certificates or economic interest therein, that would cause the Issuer to be treated as a publicly traded partnership for U.S. federal income tax
purposes. 
 SECTION 3.6. Lost, Stolen, Mutilated or Destroyed Certificates. If (i) any mutilated Certificate is surrendered to the
Owner Trustee, or (ii) the Owner Trustee receives evidence to its satisfaction that any Certificate has been destroyed, lost or stolen, and upon proof of ownership satisfactory to the Owner Trustee together with such security or indemnity as may be
requested by the Owner Trustee to save it harmless, the Owner Trustee shall execute and deliver a new Certificate for the same percentage of beneficial 
  

 7 

 interest in the Issuer as the Certificate so mutilated, destroyed, lost or stolen, of like tenor and bearing a different
issue number, with such notations, if any, as the Owner Trustee shall determine. Upon the issuance of any new Certificate under this Section 3.6, the Issuer or Owner Trustee may require the payment of a sum sufficient to cover any tax or
other governmental charge that may be imposed in connection with any transfer or exchange of the Certificate and any other reasonable expenses (including the reasonable fees and expenses of the Issuer and the Owner Trustee) connected therewith. Any
duplicate Certificate issued pursuant to this Section 3.6 shall constitute complete and indefeasible evidence of ownership in the Issuer, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at
any time. 
 ARTICLE IV 
 ACTIONS BY OWNER TRUSTEE 
 SECTION 4.1. Prior Notice to Residual Interestholder with Respect to Certain Matters. With
respect to the following matters, the Owner Trustee shall not take action unless at least 30 days before the taking of such action, the Owner Trustee shall have notified the Residual Interestholder in writing of the proposed action and the Residual
Interestholder shall not have notified the Owner Trustee in writing prior to the 30th day after such notice is given that the Residual Interestholder has withheld consent or provided alternative direction: 
 (a) the amendment of the Indenture by a supplemental indenture in circumstances where the consent of any Noteholder is required;

 (b) the amendment of the Indenture by a supplemental indenture in circumstances where the consent of any Noteholder is not
required and such amendment materially adversely affects the interests of the Residual Interestholder; 
 (c) the amendment,
change or modification of the Sale and Servicing Agreement, or the Administration Agreement, except to cure any ambiguity or defect or to amend or supplement any provision in a manner that would not materially adversely affect the interests of the
Residual Interestholder; or 
 (d) the appointment pursuant to the Indenture of a successor Indenture Trustee or the consent
to the assignment by the Note Registrar or the Indenture Trustee of its obligations under the Indenture or this Agreement, as applicable. 
 SECTION 4.2. Action by Residual Interestholder with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Residual Interestholder, to (a) except as expressly provided in the
Transaction Documents, sell the Collateral after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or (c) appoint a successor
Administrator pursuant to Section 8 of the Administration Agreement. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Residual Interestholder. 
 SECTION 4.3. Action by Residual Interestholder with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary
proceeding in bankruptcy relating to the Issuer until one year and one day after the Outstanding amount of 
  

 8 

 all the Notes has been reduced to zero and all amounts owed to the Note Insurer and the Swap Counterparty under the
Transaction Documents have been paid without the prior written approval of the Residual Interestholder and the delivery to the Owner Trustee by the Residual Interestholder of a certificate certifying that the Residual Interestholder reasonably
believes that the Issuer is insolvent. 
 SECTION 4.4. Restrictions on Residual Interestholder’s Power. The Residual
Interestholder shall not direct the Owner Trustee to take or refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer or the Owner Trustee under this Agreement or any of the Transaction Documents or
would be contrary to Section 2.3, nor shall the Owner Trustee be obligated to follow any such direction, if given. 
 SECTION 4.5.
Majority Control. To the extent that there is more than one Residual Interestholder, any action which may be taken or consent or instructions which may be given by the Residual Interestholder under this Agreement may be taken by Residual
Interestholders holding in the aggregate a percentage of the beneficial interest in the Issuer equal to more than 50% of the beneficial interest in the Issuer at the time of such action. 
 SECTION 4.6. Rights of Note Insurer. Notwithstanding anything to the contrary in the Transaction Documents, without the prior written consent of
the Note Insurer (unless a Note Insurer Default shall have occurred and be continuing or the Notes are no longer outstanding), the Owner Trustee shall not (i) remove the Servicer, (ii) initiate any claim, suit or proceeding by the Issuer or
compromise any claim, suit or proceeding brought by or against the Issuer, other than with respect to the enforcement of any Receivable or any rights of the Issuer thereunder or (iii) authorize the merger or consolidation of the Issuer with or into
any other statutory trust or other entity. 
 ARTICLE V 
 APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 
 SECTION 5.1. Application of Trust Funds.
Distributions on the Residual Interest shall be made in accordance with the provisions of the Indenture and the Sale and Servicing Agreement. Subject to the lien of the Indenture, the Owner Trustee shall promptly distribute to the Residual
Interestholder all other amounts (if any) received by the Issuer or the Owner Trustee in respect of the Trust Estate. After the termination of the Indenture in accordance with its terms, the Owner Trustee shall distribute all amounts received (if
any) by the Issuer and the Owner Trustee in respect of the Trust Estate at the direction of the Residual Interestholder. 
 SECTION 5.2.
Method of Payment. Subject to the Indenture, distributions required to be made to the Residual Interestholder on any Payment Date and all amounts received by the Issuer or the Owner Trustee on any other date that are payable to the Residual
Interestholder pursuant to this Agreement or any other Transaction Document shall be made to the Residual Interestholder by wire transfer, in immediately available funds, to the account of the Residual Interestholder designated by the Residual
Interestholder to the Owner Trustee and Indenture Trustee in writing. 
  

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 SECTION 5.3. Sarbanes-Oxley Act. Notwithstanding anything to the contrary herein or in any
Transaction Document, the Owner Trustee shall not be required to execute, deliver or certify in accordance with the provisions of the Sarbanes-Oxley Act on behalf of the Issuer or any other Person, any periodic reports filed pursuant to the Exchange
Act, or any other documents pursuant to the Sarbanes-Oxley Act. 
 SECTION 5.4. Signature on Returns. Subject to Section 2.6,
the Residual Interestholder shall sign on behalf of the Issuer the tax returns of the Issuer, unless applicable law requires the Owner Trustee to sign such documents, in which case such documents shall be signed by the Owner Trustee at the written
direction of the Residual Interestholder. 
 ARTICLE VI 
 AUTHORITY AND DUTIES OF OWNER TRUSTEE 
 SECTION 6.1. General Authority. The Owner Trustee is
authorized and directed to execute and deliver (i) the Transaction Documents to which the Issuer is named as a party, and (ii) each certificate or other document attached as an exhibit to or contemplated by the Transaction Documents to which the
Issuer or the Owner Trustee is named as a party and any amendment thereto, including, without limitation, the Fee Letter (as defined in the Insurance Agreement), in each case, in such form as the Seller shall approve, as evidenced conclusively by
the Owner Trustee’s execution thereof, and at the written direction of the Seller, to direct the Indenture Trustee to authenticate and deliver Class A-1 Notes in the aggregate principal amount of $349,000,000, Class A-2 Notes in the aggregate
principal amount of $334,000,000, Class A-3-A Notes in the aggregate principal amount of $294,500,000, Class A-3-B Notes in an aggregate principal amount of $294,500,000 and Class A-4 Notes in the aggregate principal amount of $478,000,000. In
addition to the foregoing, the Owner Trustee is authorized, but shall not be obligated, to take all actions required of the Issuer pursuant to the Transaction Documents. The Owner Trustee is further authorized from time to time to take such action
as the Seller, the Administrator, the Residual Interestholder or the Note Insurer recommends or directs in writing with respect to the Transaction Documents, except to the extent that this Agreement expressly requires the consent of the Residual
Interestholder or the Note Insurer for such action. 
 SECTION 6.2. General Duties. It shall be the duty of the Owner Trustee to
discharge (or cause to be discharged) all of its responsibilities pursuant to the terms of this Agreement and the other Transaction Documents and to administer the Issuer in the interest of the Residual Interestholder, subject to Transaction
Documents, and in accordance with the provisions of this Agreement. Notwithstanding the foregoing, the Owner Trustee shall be deemed to have discharged its duties and responsibilities hereunder and under the Transaction Documents to the extent the
Administrator has agreed in the Administration Agreement to perform any act or to discharge any duty of the Issuer or the Owner Trustee hereunder or under any Transaction Document, and the Owner Trustee shall not be liable for the default or failure
of the Administrator to carry out its obligations under the Administration Agreement and shall have no duty to monitor the performance of the Administrator or any other Person under the Administration Agreement or any other document. The Owner
Trustee shall have no obligation to administer, service or collect the Receivables or to maintain, monitor or otherwise supervise the administration, servicing or collection of the Receivables. 
  

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 SECTION 6.3. Action upon Instruction. (a) Subject to Article IV, and in accordance with the
Transaction Documents, the Note Insurer (unless a Note Insurer Default has occurred and is continuing or the Notes are no longer outstanding) or the Residual Interestholder may, by written instruction, direct the Owner Trustee in the management of
the Issuer. Such direction may be exercised at any time by written instruction of the Note Insurer or Residual Interestholder, as applicable, pursuant to Article IV. The Note Insurer shall provide prior notice to the Residual Interestholder
of any instruction the Note Insurer provides to the Owner Trustee as provided above. In the event that instructions given by the Note Insurer under this Section 6.3 conflict with instructions given by the Residual Interestholder under this
Section 6.3, the instructions of the Note Insurer shall govern. 
 (a) Subject to Section 7.1, the Owner
Trustee shall not be required to take any action hereunder or under any Transaction Document if the Owner Trustee shall have reasonably determined or been advised by counsel that such action is likely to result in liability on the part of the Owner
Trustee or is contrary to the terms hereof or of any Transaction Document or is otherwise contrary to law. 
 (b) Whenever the
Owner Trustee is unable to decide between alternative courses of action permitted or required by the terms of this Agreement or any Transaction Document or is unsure as to the application of any provision of this Agreement or any Transaction
Document or any such provision is ambiguous as to its application, or is, or appears to be, in conflict with any other applicable provision, or in the event that this Agreement permits any determination by the Owner Trustee or is silent or is
incomplete as to the course of action that the Owner Trustee is required to take with respect to a particular set of facts, the Owner Trustee shall promptly give notice (in such form as shall be appropriate under the circumstances) to the Residual
Interestholder requesting instruction as to the course of action to be adopted or application of such provision, and to the extent the Owner Trustee acts or refrains from acting in good faith in accordance with any written instruction of the
Residual Interestholder received, the Owner Trustee shall not be liable on account of such action or inaction to any Person. If the Owner Trustee shall not have received appropriate instruction within ten days of such notice (or within such shorter
period of time as reasonably may be specified in such notice or may be necessary under the circumstances) it may, but shall be under no duty to, take or refrain from taking such action, not inconsistent with this Agreement or the Transaction
Documents, as it shall deem to be in the best interests of the Residual Interestholder, and shall have no liability to any Person for such action or inaction. 
 SECTION 6.4. No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell,
dispose of, or otherwise deal with the Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Trustee is a party, except as expressly
provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.3; and no implied duties or obligations shall be read into this Agreement or any Transaction Document
against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security 
  

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 interest or Lien granted to it hereunder or to prepare or file any Commission filing (including any filings required
under the Sarbanes-Oxley Act) for the Issuer or to record this Agreement or any Transaction Document. Wilmington Trust Company nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge
any Liens on any part of the Trust Estate that result from actions by, or claims against, Wilmington Trust Company that are not related to the ownership or the administration of the Trust Estate. Notwithstanding anything contained herein to the
contrary, with respect to the Note Insurer, the Owner Trustee undertakes to perform or observe only such of the covenants and obligations of the Owner Trustee as are expressly set forth in this Agreement, and no implied covenants or obligations with
respect to the Note Insurer shall be read into this Agreement against the Owner Trustee. The Owner Trustee shall not be deemed to owe any fiduciary duty to the Note Insurer and shall not be liable to any such person other than as expressly set forth
in the third sentence of Section 7.1 of this Agreement. 
 SECTION 6.5. No Action Except under Specified Documents or
Instructions. The Owner Trustee shall not manage, control, use, sell, dispose of or otherwise deal with any part of the Trust Estate except (i) in accordance with the powers granted to and the authority conferred upon the Owner Trustee pursuant
to this Agreement, (ii) in accordance with the Transaction Documents and (iii) in accordance with any document or instruction delivered to the Owner Trustee pursuant to Section 6.3. 
 SECTION 6.6. Restrictions. The Owner Trustee shall not take any action (a) that is inconsistent with the purposes of the Issuer set forth in
Section 2.3 or (b) that, to the actual knowledge of a Responsible Officer of the Owner Trustee, would (i) affect the treatment of the Notes as indebtedness for federal income, state and local income and franchise tax purposes, (ii) be deemed
to cause a taxable exchange of the Notes for federal income or state income or franchise tax purposes or (iii) cause the Issuer or any portion thereof to be treated as an association or publicly traded partnership taxable as a corporation for
federal income, state and local income or franchise tax purposes. Neither the Residual Interestholder nor the Note Insurer shall direct the Owner Trustee to take action that would violate the provisions of this Section. 
 ARTICLE VII 
 CONCERNING OWNER
TRUSTEE 
 SECTION 7.1. Acceptance of Trusts and Duties. The Owner Trustee accepts the trusts hereby created and agrees to perform
its duties hereunder with respect to such trusts but only upon the terms of this Agreement. The Owner Trustee also agrees to disburse all moneys actually received by it constituting part of the Trust Estate upon the terms of the Transaction
Documents and this Agreement. The Owner Trustee shall not be personally liable or accountable hereunder or under any Transaction Document under any circumstances notwithstanding anything herein or in the Transaction Documents to the contrary, except
(i) for its own willful misconduct, bad faith or gross negligence, (ii) in the case of the inaccuracy of any representation or warranty contained in Section 7.3 expressly made by Wilmington Trust Company in its individual capacity, (iii) for
liabilities arising from the failure of Wilmington Trust Company to perform obligations expressly undertaken by it in the third sentence of Section 6.4 or (iv) for taxes, fees or other charges on, based on or measured by, any fees,
commissions or compensation received by the Owner Trustee. In particular, but not by way of limitation (and subject to the exemptions set forth in the preceding sentence): 
 (a) The Owner Trustee shall not be liable for any error of judgment made in good faith by any officer of the Owner Trustee. 
  

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 (b) Under no circumstances shall the Owner Trustee be personally liable hereunder for any
indebtedness of the Issuer. 
 (c) The Owner Trustee shall not be personally liable for the payment of any tax imposed on the
Issuer or amounts that are includable in the federal gross income of the Residual Interestholder. 
 (d) No provision of this
Agreement shall require the Owner Trustee to expend or risk funds or otherwise incur any financial liability in the performance of any of the Owner Trustee’s duties or powers hereunder, if the Owner Trustee believes or is advised by its legal
counsel that repayment of such funds or adequate indemnity against such risk or liability is not assured or provided to its reasonable satisfaction. 
 (e) Under no circumstance shall the Owner Trustee be liable for any representation, warranty, covenant, or obligation or indebtedness of the Issuer hereunder or under the Transaction Documents or any other agreement,
document or certificate contemplated by the foregoing. 
 (f) The Owner Trustee shall not be liable with respect to any action
taken or omitted to be taken by the Note Insurer, the Administrator, the Indenture Trustee or the Servicer and the Owner Trustee shall not be liable for performing or supervising the performance of any obligations or duties under this Agreement, the
Administration Agreement, the Sale and Servicing Agreement or the Indenture, or under any other document contemplated hereby or thereby, which are to be performed by the Administrator, the Indenture Trustee or the Servicer or any other Person under
such documents. 
 (g) The Owner Trustee shall not be responsible for or in respect of the recitals herein, the validity or
sufficiency of this Agreement, or for the due execution hereof by the Seller or for the form, character, genuineness, sufficiency, value or validity of any of the Trust Estate or for or in respect of the validity or sufficiency of the Transaction
Documents or any other document contemplated thereby to which the Owner Trustee is not a party. 
 (h) Notwithstanding
anything contained herein or in any of the Transaction Documents to the contrary, the Owner Trustee shall not be required to take any action in any jurisdiction other than in the State of Delaware if the taking of such action will (i) require
the consent or approval or authorization or order of or the giving of notice to, or the registration with or taking of any action in respect of, any state or other governmental authority or agency of any jurisdiction other than the State of
Delaware; (ii) result in any fee, tax or other governmental charge under the laws of any jurisdiction or any political subdivisions thereof in 
  

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 existence on the date hereof other than the State of Delaware becoming payable by the Owner Trustee; or
(iii) subject the Owner Trustee to personal jurisdiction in any jurisdiction other than the State of Delaware for causes of action arising from acts unrelated to the consummation of the transactions by the Owner Trustee contemplated hereby.

 (i) The Owner Trustee shall not be liable with respect to any action taken or omitted to be taken by it in accordance with
the instructions of the Residual Interestholder, the Note Insurer, the Servicer or the Administrator. 
 (j) The Owner Trustee
shall be under no duty to exercise any of the rights or powers vested in it by this Agreement, or to institute, conduct or defend any litigation under this Agreement or otherwise or in relation to this Agreement or any Transaction Document, at the
request, order or written direction of the Residual Interestholder or the Note Insurer, unless such Residual Interestholder or the Note Insurer has offered to provide to the Owner Trustee, to the extent requested by the Owner Trustee, security or
indemnity satisfactory to it against the costs, expenses and liabilities that may be incurred by the Owner Trustee therein or thereby. The right of the Owner Trustee to perform any discretionary act enumerated in this Agreement or in any Transaction
Document shall not be answerable for other than its gross negligence, bad faith or willful misconduct in the performance of any such act. 
 (k) All funds deposited with the Owner Trustee hereunder may be held in a non-interest bearing account and the Owner Trustee shall not be liable for any interest thereon or for any loss as a result of the investment
thereof at the direction of the Residual Interestholder. 
 SECTION 7.2. Furnishing of Documents. The Owner Trustee shall furnish to
the Residual Interestholder promptly upon receipt of a written request therefor, duplicates or copies of all reports, notices, requests, demands, certificates, financial statements and any other instruments furnished to the Owner Trustee under the
Transaction Documents. 
 SECTION 7.3. Representations and Warranties. Wilmington Trust Company hereby represents and warrants to the
Seller for the benefit of the Residual Interestholder, that: 
 (a) It is a banking corporation duly incorporated and validly
existing in good standing under the laws of Delaware and having an office within the State of Delaware. It has all requisite corporate power and authority to execute, deliver and perform its obligations under this Agreement. 
 (b) It has taken all corporate action necessary to authorize the execution and delivery by it of this Agreement, and this Agreement will
be executed and delivered by one of its officers who is duly authorized to execute and deliver this Agreement on its behalf. 
 (c) This Agreement constitutes a legal, valid and binding obligation of the Owner Trustee, enforceable against the Owner Trustee in accordance with its terms, subject, as to enforceability, to applicable bankruptcy, insolvency,
reorganization, conservatorship, receivership, liquidation and other similar laws affecting enforcement of the rights of creditors of banks generally and to equitable limitations on the availability of specific remedies. 
  

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 (d) Neither the execution nor the delivery by it of this Agreement, nor the consummation
by it of the transactions contemplated hereby nor compliance by it with any of the terms or provisions hereof will contravene any federal or Delaware law, governmental rule or regulation governing the banking or trust powers of the Owner Trustee or
any judgment or order binding on it, or constitute any default under its charter documents or by-laws. 
 SECTION 7.4. Reliance; Advice of
Counsel. (a) The Owner Trustee shall incur no personal liability to anyone in acting upon any signature, instrument, notice, resolution, request, consent, order, certificate, report, opinion, bond or other document or paper believed by it to be
genuine and believed by it to be signed by the proper party or parties. The Owner Trustee may accept a certified copy of a resolution of the board of directors or other governing body of any corporate party as conclusive evidence that such
resolution has been duly adopted by such body and that the same is in full force and effect. As to any fact or matter the method of the determination of which is not specifically prescribed herein, the Owner Trustee may for all purposes hereof rely
on a certificate, signed by the president or any vice president or by the treasurer, secretary or other Authorized Officers of the relevant party, as to such fact or matter, and such certificate shall constitute full protection to the Owner Trustee
for any action taken or omitted to be taken by it in good faith in reliance thereon. 
 (b) In the exercise or administration
of the trusts hereunder and in the performance of its duties and obligations under this Agreement or the Transaction Documents, the Owner Trustee (i) may act directly or through its agents or attorneys pursuant to agreements entered into with
any of them, but the Owner Trustee shall not be personally liable for the conduct or misconduct of such agents, custodians, nominees (including persons acting under a power of attorney) or attorneys selected with reasonable care and (ii) may
consult with counsel, accountants and other skilled persons knowledgeable in the relevant area to be selected with reasonable care and employed by it at the expense of the Issuer. The Owner Trustee shall not be personally liable for anything done,
suffered or omitted in good faith by it in accordance with the written opinion or advice of any such counsel, accountants or other such persons. 
 SECTION 7.5. Not Acting in Individual Capacity. Except as provided in this Article VII, in accepting the trusts hereby created, Wilmington Trust Company acts solely as the Owner Trustee hereunder and not in its individual
capacity and all Persons having any claim against the Owner Trustee by reason of the transactions contemplated by this Agreement or any Transaction Document shall look only to the Trust Estate for payment or satisfaction thereof. 
 SECTION 7.6. The Owner Trustee May Own Notes. The Owner Trustee in its individual or any other capacity may become the owner or pledgee of Notes.
The Owner Trustee may deal with the Seller, the Indenture Trustee, the Administrator and their respective Affiliates in banking transactions with the same rights as it would have if it were not the Owner Trustee, and the Seller, the Indenture
Trustee, the Administrator and their respective Affiliates may maintain normal commercial banking relationships with the Owner Trustee and its Affiliates. 
  

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 ARTICLE VIII 
 COMPENSATION OF OWNER TRUSTEE 
 SECTION 8.1. The Owner Trustee’s Compensation. The Issuer
shall cause the Servicer to pay to Wilmington Trust Company pursuant to Section 3.11 of the Sale and Servicing Agreement from time to time compensation for all services rendered by Wilmington Trust Company under this Agreement pursuant to a
fee letter between the Servicer and the Owner Trustee (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust). The Servicer, pursuant to Section 3.11 of the Sale and
Servicing Agreement and the fee letter between the Servicer and the Owner Trustee, shall reimburse Wilmington Trust Company upon its request for all reasonable expenses, disbursements and advances incurred or made by Wilmington Trust Company in
accordance with any provision of this Agreement (including the reasonable compensation, expenses and disbursements of such agents, experts and counsel as Wilmington Trust Company may employ in connection with the exercise and performance of its
rights and its duties hereunder), except any such expense may be attributable to its willful misconduct, gross negligence (other than an error in judgment) or bad faith. To the extent not paid by the Servicer, such fees and reasonable expenses shall
be paid in accordance with Section 4.4 of the Sale and Servicing Agreement or Section 5.4(b) of the Indenture, as applicable. 
 SECTION 8.2. Indemnification. The Seller shall cause the Servicer to indemnify Wilmington Trust Company in its individual capacity and as trustee and its successors, assigns, directors, officers, employees and agents (the
“Indemnified Parties”) from and against, any and all loss, liability, expense, tax, penalty or claim (including reasonable legal fees and expenses) of any kind and nature whatsoever which may at any time be imposed on, incurred by,
or asserted against Wilmington Trust Company in its individual capacity and as trustee or any Indemnified Party in any way relating to or arising out of this Agreement, the Transaction Documents, the Trust Estate, the administration of the Trust
Estate or the action or inaction of Wilmington Trust Company hereunder; provided, however, that neither the Seller nor the Servicer shall be liable for or required to indemnify Wilmington Trust Company from and against any of the
foregoing expenses arising or resulting from (i) its own willful misconduct, bad faith or gross negligence, (ii) the inaccuracy of any representation or warranty contained in Section 7.3 expressly made by Wilmington Trust Company in its
individual capacity, (iii) liabilities arising from the failure of Wilmington Trust Company to perform obligations expressly undertaken by it in the third sentence of Section 6.4 or (iv) taxes, fees or other charges on, based on or measured
by, any fees, commissions or compensation received by the Owner Trustee. To the extent not paid by the Servicer, such indemnification shall be paid in accordance with Section 4.4 of the Sale and Servicing Agreement. 
 SECTION 8.3. Payments to the Owner Trustee. Any amounts paid to the Owner Trustee pursuant to this Article VIII and the Sale and Servicing
Agreement shall be deemed not to be a part of the Trust Estate immediately after such payment. 
  

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 ARTICLE IX 
 TERMINATION OF TRUST AGREEMENT 
 SECTION 9.1. Termination of Trust Agreement. The Issuer shall
wind-up and dissolve, and this Agreement (other than Article VIII) shall terminate, upon the later of (a) the final distribution by the Owner Trustee of all moneys or other property or proceeds of the Trust Estate in accordance with the terms
of the Indenture, the Sale and Servicing Agreement and Article V and (b) the discharge of the Indenture in accordance with Article IV of the Indenture. The bankruptcy, liquidation, dissolution, death or incapacity of the
Residual Interestholder shall not (x) operate to terminate this Agreement or the Issuer, nor (y) entitle the Residual Interestholder’s legal representatives or heirs to claim an accounting or to take any action or proceeding in any court for a
partition or winding up of all or any part of the Issuer or Trust Estate nor (z) otherwise affect the rights, obligations and liabilities of the parties hereto. 
 SECTION 9.2. Dissolution of the Issuer. Upon dissolution of the Issuer, the Owner Trustee shall wind up the business and affairs of the Issuer as required by Section 3808 of the Statutory Trust Statute. Upon
the satisfaction and discharge of the Indenture, and receipt of a certificate from the Indenture Trustee stating that all Noteholders have been paid in full and that the Indenture Trustee is aware of no claims remaining against the Issuer in respect
of the Indenture and the Notes, the Owner Trustee, in the absence of actual knowledge of any other claim against the Issuer and at the written direction of the Residual Interestholder, shall be deemed to have made reasonable provision to pay all
claims and obligations (including conditional, contingent or unmatured obligations) for purposes of Section 3808(e) of the Statutory Trust Statute and shall cause the Certificate of Trust to be cancelled by filing a certificate of cancellation with
the Delaware Secretary of State in accordance with the provisions of Section 3810 of the Statutory Trust Statute, at which time the Issuer shall terminate and this Agreement (other than Article VIII) shall be of no further force or effect.

 SECTION 9.3. Limitations on Termination. Except as provided in Section 9.1, neither the Seller nor the Residual
Interestholder shall be entitled to revoke or terminate the Issuer. 
 ARTICLE X 
 SUCCESSOR OWNER TRUSTEES AND ADDITIONAL 
 OWNER TRUSTEES 
 SECTION 10.1. Eligibility Requirements for the Owner Trustee. The Owner Trustee shall at all times
be a bank (i) authorized to exercise corporate trust powers, (ii) having a combined capital and surplus of at least $50,000,000 and (iii) subject to supervision or examination by Federal or state authorities. If such bank shall publish reports of
condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purpose of this Section, the combined capital and surplus of such corporation shall be deemed to be its combined
capital and surplus as set forth in its most recent report of condition so published. The Owner Trustee shall at all times be an institution satisfying the provisions of Section 3807(a) of the Statutory Trust Statute. In case at any time the Owner
Trustee shall cease to be eligible in accordance with the provisions of this Section, the Owner Trustee shall resign immediately in the manner and with the effect specified in Section 10.2. 
  

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 SECTION 10.2. Resignation or Removal of the Owner Trustee. The Owner Trustee may at any time
resign and be discharged from the trusts hereby created by giving written notice thereof to the Note Insurer, the Seller, the Administrator, the Servicer, the Indenture Trustee and the Residual Interestholder. Upon receiving such notice of
resignation, the Seller and the Administrator, acting jointly, shall promptly appoint a successor Owner Trustee reasonably acceptable to the Note Insurer (unless a Note Insurer Default has occurred and is continuing) which satisfies the eligibility
requirements set forth in Section 10.1 by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Owner Trustee and one copy to the successor Owner Trustee (with a copy to the Note Insurer). If no
successor Owner Trustee shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Owner Trustee may petition any court of competent jurisdiction for the appointment of a
successor Owner Trustee reasonably acceptable to the Note Insurer (unless a Note Insurer Default has occurred and is continuing); provided, however, that such right to appoint or to petition for the appointment of any such successor
shall in no event relieve the resigning Owner Trustee from any obligations otherwise imposed on it under the Transaction Documents until such successor has in fact assumed such appointment. 
 If at any time the Owner Trustee shall cease to be eligible in accordance with the provisions of Section 10.1 and shall fail to resign after
written request therefor by the Seller or the Administrator, or if at any time the Owner Trustee shall be legally unable to act, or shall be adjudged bankrupt or insolvent, or a receiver of the Owner Trustee or of its property shall be appointed, or
any public officer shall take charge or control of the Owner Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Seller or the Administrator with notice to the Note Insurer may remove the
Owner Trustee. If the Seller or the Administrator shall remove the Owner Trustee under the authority of the immediately preceding sentence, the Seller and the Administrator, acting jointly, shall promptly appoint a successor Owner Trustee reasonably
acceptable to the Note Insurer (unless a Note Insurer Default has occurred and is continuing) by written instrument, in duplicate, one copy of which instrument shall be delivered to the outgoing Owner Trustee so removed and one copy to the successor
Owner Trustee (with a copy to the Note Insurer) and shall pay all fees owed to the outgoing Owner Trustee. 
 Any resignation or removal of
the Owner Trustee and appointment of a successor Owner Trustee pursuant to any of the provisions of this Section shall not become effective until acceptance of appointment by the successor Owner Trustee pursuant to Section 10.3 and
payment of all fees and expenses owed to the outgoing Owner Trustee. The Seller shall provide (or shall cause to be provided) notice of such resignation or removal of the Owner Trustee to each of the Rating Agencies and the Note Insurer. 

SECTION 10.3. Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.2 shall execute, acknowledge and
deliver to the Seller, the Administrator, the Note Insurer and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall

  

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 become effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested
with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the
successor Owner Trustee all documents and statements and monies held by it under this Agreement; and the Seller and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for
fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. 
 No successor
Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.1. 
 Upon acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Seller shall mail (or shall cause to be mailed) notice of the
successor of such Owner Trustee to the Residual Interestholder, Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Seller shall fail to mail (or cause to be mailed) such notice within 10 days after acceptance of appointment
by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Seller. 
 SECTION
10.4. Merger or Consolidation of the Owner Trustee. Any corporation into which the Owner Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to
which the Owner Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the Owner Trustee, shall, without the execution or filing of any instrument or any further act on the part of any
of the parties hereto, anything herein to the contrary notwithstanding, be the successor of the Owner Trustee hereunder; provided that such corporation shall be eligible pursuant to Section 10.1; and provided further that the
Owner Trustee shall mail notice of such merger or consolidation to the Seller, the Administrator and the Rating Agencies. 
 SECTION 10.5.
Appointment of Co-Trustee or Separate Trustee. Notwithstanding any other provisions of this Agreement, at any time, for the purpose of meeting any legal requirements of any jurisdiction in which any part of the Trust Estate may at the time be
located, the Seller and the Owner Trustee acting jointly shall have the power and shall execute and deliver all instruments to appoint one or more Persons approved by the Owner Trustee to act as co-trustee, jointly with the Owner Trustee, or
separate trustee or separate trustees, of all or any part of the Trust Estate, and to vest in such Person, in such capacity, such title to the Issuer, or any part thereof, and, subject to the other provisions of this Section, such powers, duties,
obligations, rights and trusts as the Seller and the Owner Trustee may consider necessary or desirable. If the Seller shall not have joined in such appointment within 15 days after the receipt by it of a request so to do, the Owner Trustee alone
shall have the power to make such appointment. No co-trustee or separate trustee under this Agreement shall be required to meet the terms of eligibility as a successor trustee pursuant to Section 10.1 and no notice of the appointment of any
co-trustee or separate trustee shall be required pursuant to Section 10.3. 
  

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 Each separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject
to the following provisions and conditions: 
 (i) all rights, powers, duties and obligations conferred or imposed upon the
Owner Trustee shall be conferred upon and exercised or performed by the Owner Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Owner
Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed, the Owner Trustee shall be incompetent or unqualified to perform such act or acts, in which event such
rights, powers, duties and obligations (including the holding of title to the Issuer or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the
Owner Trustee; 
 (ii) no trustee under this Agreement shall be personally liable by reason of any act or omission of any
other trustee under this Agreement; and 
 (iii) the Seller and the Owner Trustee acting jointly may at any time accept the
resignation of or remove any separate trustee or co-trustee. 
 Any notice, request or other writing given to the Owner Trustee shall be
deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Agreement and the conditions of this
Article. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Owner Trustee or separately, as may be
provided therein, subject to all the provisions of this Agreement, specifically including every provision of this Agreement relating to the conduct of, affecting the liability of, or affording protection to, the Owner Trustee. Each such instrument
shall be filed with the Owner Trustee and copies thereof given to the Seller and the Administrator. 
 Any separate trustee or co-trustee may
at any time appoint the Owner Trustee, its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Agreement on its behalf and in its name. If any separate
trustee or co-trustee shall become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies and trusts shall vest in and be exercised by the Owner Trustee, to the extent permitted by law, without the appointment of
a new or successor trustee. The Owner Trustee shall have no obligation to determine whether a co-trustee or separate trustee is legally required in any jurisdiction in which any part of the Trust Estate may be located. 
  

 20 

 ARTICLE XI 
 MISCELLANEOUS 
 SECTION 11.1. Amendments. 
 (a) Any term or provision of this Agreement may be amended by the parties hereto, with the written consent of the Note Insurer (so long as the Note
Insurer is the Controlling Party), but without the consent of any Noteholder, to cure any ambiguity, to correct or supplement any provisions in this Agreement, to comply with changes in the Code, to comply with or obtain more favorable treatment
under any law or regulation or any accounting rule or principle, or to make any other provisions with respect to matters or questions arising under this Agreement which shall not be inconsistent with the provisions of this Agreement; provided
that such amendment shall not, as evidenced by an Opinion of Counsel delivered to the Indenture Trustee and the Owner Trustee, materially and adversely affect the interests of any Noteholder; provided, further, that such amendment
shall be deemed not to materially and adversely affect the interests of any Noteholder, and no Opinion of Counsel shall be required, if the Rating Agency Condition is satisfied with respect to such amendment; provided, further, that if
the Note Insurer is not the Controlling Party, such amendment shall not materially and adversely affect the interests of the Note Insurer without the prior written consent of the Note Insurer. 
 (b) This Agreement may also be amended from time to time by the parties hereto, with the consent of the Controlling Party, for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying in any manner the rights of the Noteholders or the Note Insurer; provided, that if the Note Insurer is not the Controlling Party,
no amendment pursuant to this Section 11.1(b) shall materially and adversely affect the interests of the Note Insurer without the prior written consent of the Note Insurer. It will not be necessary to obtain the consent of Noteholders to
approve the particular form of any proposed amendment or consent, but it will be sufficient if such consent approves the substance thereof. The manner of obtaining such consents (and any other consents of Noteholders provided for in this Agreement)
and of evidencing the authorization of the execution thereof by Noteholders will be subject to such reasonable requirements as the Indenture Trustee may prescribe, including the establishment of record dates pursuant to the Note Depository
Agreement. 
 (c) Prior to the execution of any such amendment, the Seller shall provide written notification of the substance of such
amendment to each Rating Agency, the Note Insurer and the Owner Trustee; and promptly after the execution of any such amendment or consent, the Seller shall furnish a copy of such amendment or consent to each Rating Agency, the Owner Trustee and the
Indenture Trustee. 
 (d) Prior to the execution of any amendment to this Agreement, the Owner Trustee shall be entitled to receive and
conclusively rely upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this Agreement and 
  

 21 

 that all conditions precedent to the execution and delivery of such amendment have been satisfied. The Owner Trustee may,
but shall not be obligated to, enter into any such amendment which affects the Owner Trustee’s own rights, duties or immunities under this Agreement. 
 (e) Notwithstanding the language set forth in this Section 11.1, the consent of the Note Insurer shall be required at all times with respect to any amendment of Section 4.6 of this Agreement.

 SECTION 11.2. No Legal Title to Trust Estate in Residual Interestholder. The Residual Interestholder shall not have legal title to
any part of the Trust Estate. The Residual Interestholder shall be entitled to receive distributions with respect to its undivided beneficial interest therein only in accordance with Articles V and IX. No transfer, by operation of law
or otherwise, of any right, title or interest of the Residual Interestholder to and in its ownership interest in the Trust Estate shall operate to terminate this Agreement or the trusts hereunder or entitle any transferee to an accounting or to the
transfer to it of legal title to any part of the Trust Estate. 
 SECTION 11.3. Limitations on Rights of Others. The provisions of
this Agreement are solely for the benefit of the Owner Trustee, the Seller, the Administrator, the Residual Interestholder and, to the extent expressly provided herein, the Indenture Trustee and the Noteholders, and nothing in this Agreement,
whether express or implied, shall be construed to give to any other Person any legal or equitable right, remedy or claim in the Trust Estate or under or in respect of this Agreement or any covenants, conditions or provisions contained herein.

 SECTION 11.4. Notices. (a) Unless otherwise expressly specified or permitted by the terms hereof, all notices shall be in writing
and shall be deemed given by telecopy with receipt acknowledged by the recipient thereof or upon receipt personally delivered, delivered by overnight courier or mailed certified mail, return receipt requested or via facsimile, if to the Owner
Trustee, addressed to the Corporate Trust Office; if to the Seller, addressed to 140 E. Shore Drive, Room 1052-D, Glen Allen, Virginia 23059 (Tel: (804) 290-6736; Fax: (804) 290-6666), Attention: Capital Markets with a copy to 1680 Capital One
Drive, McLean, Virginia 22102 (Tel: (703) 720-1000; Fax: (703) 720-2227), Attention: Legal; if to the Administrator, addressed to 3901 Dallas Parkway, Plano, Texas 79503 (Tel: (703) 720-1000; Fax: (703) 720-2121), Attention: Manager of
Securitization with a copy to 3901 Dallas Parkway, Plano, Texas 79503 (Tel: (703) 720-1000; Fax: (703) 720-2227), Attention: Legal; if to the Note Insurer, addressed to 125 Park Avenue, New York, 10017 (Fax: (212) 312-3225), Attn: Structured Finance
Surveillance, email; SFsurveillance@fgic.com; or, as to each party, at such other address as shall be designated by such party in a written notice to each other party. 
 (b) Any notice required or permitted to be given to a Residual Interestholder shall be given by first-class mail, postage prepaid, at the
address of such Residual Interestholder as shall be designated by such party in a written notice to each other party. Any notice so mailed within the time prescribed in this Agreement shall be conclusively presumed to have been duly given, whether
or not the Residual Interestholder receives such notice. 
  

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 SECTION 11.5. Severability. Any provision of this Agreement that is prohibited or unenforceable in
any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not
invalidate or render unenforceable such provision in any other jurisdiction. 
 SECTION 11.6. Separate Counterparts. This Agreement
may be executed by the parties hereto in separate counterparts, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute but one and the same instrument. 
 SECTION 11.7. Successors and Assigns. All covenants and agreements contained herein shall be binding upon, and inure to the benefit of, the
Seller, the Owner Trustee and its successors and the Residual Interestholder and its successors and permitted assigns, all as herein provided. Any request, notice, direction, consent, waiver or other instrument or action by the Residual
Interestholder shall bind the successors and assigns of the Residual Interestholder. 
 SECTION 11.8. No Petition. 
 (a) Each of the Owner Trustee (in its individual capacity and as the Owner Trustee), by entering into this Agreement, the Seller, the
Residual Interestholder, by accepting the Residual Interest, and the Indenture Trustee and each Noteholder or Note Owner by accepting the benefits of this Agreement, hereby covenants and agrees that prior to the date which is one year and one day
after payment in full of all obligations of each Bankruptcy Remote Party in respect of all securities issued by the Bankruptcy Remote Parties (i) to the fullest extent permitted by law such party shall not authorize any Bankruptcy Remote Party
to commence a voluntary winding-up or other voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to such Bankruptcy Remote Party or its debts under any bankruptcy, insolvency or other similar law now or
hereafter in effect in any jurisdiction or seeking the appointment of an administrator, a trustee, receiver, liquidator, custodian or other similar official with respect to such Bankruptcy Remote Party or any substantial part of its property or to
consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other proceeding commenced against such Bankruptcy Remote Party, or to make a general assignment for the benefit of, its
creditors generally, any party hereto or any other creditor of such Bankruptcy Remote Party, and (ii) such party shall not commence, join or institute against, with any other Person, any proceeding against such Bankruptcy Remote Party under any
bankruptcy, reorganization, arrangement, liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction. Without limiting the foregoing, in no event shall the Owner Trustee authorize, institute or join in any bankruptcy or
similar proceeding described in the preceding sentence without the prior written approval of the Residual Interestholder and the delivery to the Owner Trustee of a certificate certifying that the Residual Interestholder reasonably believes that the
Issuer is insolvent. 
 (b) The Seller’s obligations under this Agreement are obligations solely of the Seller and will
not constitute a claim against the Seller to the extent that the Seller does not have funds sufficient to make payment of such obligations. In furtherance of and 
  

 23 

 not in derogation of the foregoing, each of the Owner Trustee (in its individual capacity and as the
Owner Trustee), by entering into or accepting this agreement, each Certificateholder, by accepting a Certificate, and the Indenture Trustee and each Noteholder or Note Owner, by accepting the benefits of this Agreement, hereby acknowledges and
agrees that such Person has no right, title or interest in or to the Other Assets of the Seller. To the extent that, notwithstanding the agreements and provisions contained in the preceding sentence, each of the Owner Trustee, the Indenture Trustee,
each Noteholder or Note Owner and the Certificateholder either (i) asserts an interest or claim to, or benefit from, Other Assets, or (ii) is deemed to have any such interest, claim to, or benefit in or from Other Assets, whether by
operation of law, legal process, pursuant to applicable provisions of insolvency laws or otherwise (including by virtue of Section 1111(b) of the Bankruptcy Code or any successor provision having similar effect under the Bankruptcy Code), then
such Person further acknowledges and agrees that any such interest, claim or benefit in or from Other Assets is and will be expressly subordinated to the indefeasible payment in full, which, under the terms of the relevant documents relating to the
securitization or conveyance of such Other Assets, are entitled to be paid from, entitled to the benefits of, or otherwise secured by such Other Assets (whether or not any such entitlement or security interest is legally perfected or otherwise
entitled to a priority of distributions or application under applicable law, including insolvency laws, and whether or not asserted against the Seller), including the payment of post-petition interest on such other obligations and liabilities. This
subordination agreement will be deemed a subordination agreement within the meaning of Section 510(a) of the Bankruptcy Code. Each of the Owner Trustee (in its individual capacity and as the Owner Trustee), by entering into or accepting this
agreement, each Certificateholder, by accepting a Certificate, and the Indenture Trustee and each Noteholder or Note Owner, by accepting the benefits of this Agreement, hereby further acknowledges and agrees that no adequate remedy at law exists for
a breach of this Section and the terms of this Section may be enforced by an action for specific performance. The provisions of this Section will be for the third party benefit of those entitled to rely thereon and will survive the termination of
this Agreement. 
 SECTION 11.9. Headings. The headings of the various Articles and Sections herein are for convenience of reference
only and shall not define or limit any of the terms or provisions hereof. 
 SECTION 11.10. GOVERNING LAW. THIS AGREEMENT
SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

 SECTION 11.11. Limitation of Rights. 
 (a) All of the rights of the Note Insurer in, to and under this Agreement (including, but not limited to, all of the Note Insurer’s
rights to receive notice of any action hereunder and to give or withhold consent to any action hereunder) shall terminate upon the termination of the Insurance Agreement in accordance with the terms thereof and the payment in full of all amounts
owing to the Note Insurer. 
  

 24 

 (b) All of the rights of the Swap Counterparty in, to and under this Agreement
(including, but not limited to, all of the Swap Counterparty’s rights to receive notice of any action hereunder and to give or withhold consent to any action hereunder) shall terminate upon the termination of the Interest Rate Swap Agreement in
accordance with the terms thereof and the payment in full of all amounts owing to the Swap Counterparty. 
 SECTION 11.12. Information to
Be Provided by the Owner Trustee. For as long as the Issuer is requested to report under the Exchange Act, the Owner Trustee shall (i) on or before the fifth Business Day of each month, provide to the Depositor, in writing, such information
regarding the Owner Trustee as is requested for the purpose of compliance with Item 1117 of Regulation AB; provided, however, that the Owner Trustee shall not be required to provide such information in the event that there has been no
change to the information previously provided by the Owner Trustee to the Depositor, and (ii) as promptly as practicable following notice to or discovery by a Responsible Officer of the Owner Trustee of any changes to such information, provide to
the Depositor, in writing, such updated information. 
 SECTION 11.13. Information Request. The Owner Trustee shall provide any
information available and deliverable without undue expense as requested by the Servicer, the Issuer, the Seller or any of their Affiliates, in order to comply with or obtain more favorable treatment under any current or future law, rule,
regulation, accounting rule or principle. 
 [Remainder of Page Intentionally Left Blank] 
  

 25 

 IN WITNESS WHEREOF, the parties hereto have caused this Trust Agreement to be duly executed by their
respective officers hereunto duly authorized as of the day and year first above written. 
  

			
	WILMINGTON TRUST COMPANY
		
	By:	 	 /s/ J. Christopher Murphy

	Name:	 	J. Christopher Murphy
	Title:	 	Financial Services Officer

  

					
		  	S-1	  	Trust Agreement (2006-C)

			
	CAPITAL ONE AUTO RECEIVABLES, LLC
		
	By:	 	 /s/ Jerry Hamstead

	Name:	 	Jerry Hamstead
	Title:	 	Assistant Vice President

  

					
		  	S-2	  	Trust Agreement (2006-C)

 EXHIBIT A 
 FORM OF CERTIFICATE 
  

											
	NUMBER	 		 		 		 		  	100% BENEFICIAL INTEREST
	R-1	 		 		 		 		  	

 CAPITAL ONE AUTO FINANCE TRUST 2006-C 
 CERTIFICATE 
 Evidencing the 100% beneficial interest in all of the assets of the
Issuer (as defined below), which consist primarily of motor vehicle receivables, including motor vehicle retail installment sales contracts and/or installment loans that are secured by new and used automobiles and light-duty trucks. 
 (This Certificate does not represent an interest in or obligation of Capital One Auto Receivables, LLC, Capital One Auto Finance, Inc. or any of their
respective Affiliates, except to the extent described below.) 
 THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OR ANY
OTHER APPLICABLE SECURITIES OR “BLUE SKY” LAWS OF ANY STATE OR OTHER JURISDICTION, AND MAY NOT BE RESOLD, ASSIGNED, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN COMPLIANCE WITH THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT OR ANY OTHER
APPLICABLE SECURITIES OR “BLUE SKY” LAWS, PURSUANT TO AN EXEMPTION THEREFROM OR IN A TRANSACTION NOT SUBJECT THERETO. 
 THIS
CERTIFIES THAT
                                        
is the registered owner of a 100% nonassessable, fully-paid, beneficial interest in the Trust Estate of CAPITAL ONE AUTO FINANCE TRUST 2006-C, a Delaware statutory trust (the “Issuer”) formed by Capital One Auto Receivables, LLC, a
Delaware limited liability company, as depositor (the “Seller”). 
 The Issuer was created pursuant to a Trust Agreement
dated as of October 20, 2006 (as amended and restated as of November 22, 2006, the “Trust Agreement”), between the Seller and Wilmington Trust Company, as owner trustee (the “Owner Trustee”), a summary of
certain of the pertinent provisions of which is set forth below. To the extent not otherwise defined herein, the capitalized terms used herein have the meanings assigned to them in Appendix A to the Sale and Servicing Agreement, dated as of
November 22, 2006, among the Seller, the Issuer, The Bank of New York, as Indenture Trustee, and Capital One Auto Finance, Inc., as Servicer, as the same may be amended or supplemented from time to time. 
 This Certificate is issued under and is subject to the terms, provisions and conditions of the Trust Agreement, to which Trust Agreement the holder of
this Certificate by virtue of the acceptance hereof assents and by which such holder is bound. The provisions and conditions of the Trust Agreement are hereby incorporated by reference as though set forth in their entirety herein. 
  

 A-1 

 The holder of this Certificate acknowledges and agrees that its rights to receive distributions in
respect of this Certificate are subordinated to the rights of the Noteholders, the Note Insurer and the Swap Counterparty as described in the Indenture, the Sale and Servicing Agreement and the Trust Agreement, as applicable. 
 THIS CERTIFICATE SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE
OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
 By accepting this
Certificate, the Certificateholder hereby covenants and agrees that prior to the date which is one year and one day after payment in full of all obligations of each Bankruptcy Remote Party in respect of all securities issued by the Bankruptcy Remote
Parties (i) such Person shall not authorize such Bankruptcy Remote Party to commence a voluntary winding-up or other voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to such Bankruptcy Remote
Party or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect in any jurisdiction or seeking the appointment of an administrator, a trustee, receiver, liquidator, custodian or other similar official with respect
to such Bankruptcy Remote Party or any substantial part of its property or to consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other proceeding commenced against such Bankruptcy
Remote Party, or to make a general assignment for the benefit of any party hereto or any other creditor of such Bankruptcy Remote Party, and (ii) such Person shall not commence or join with any other Person in commencing any proceeding against
such Bankruptcy Remote Party under any bankruptcy, reorganization, liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction. 
 This Certificate may not be acquired by or for the account of or with the assets of (a) an employee benefit plan (as defined in Section 3(3) of ERISA) that is subject to the provisions of Title I of
ERISA, (b) a plan described in Section 4975(e)(1) of the Code or (c) any entity whose underlying assets include plan assets by reason of an employee benefit plan’s or other plan’s investment in the entity (each, a
“Benefit Plan”). By accepting and holding this Certificate, the holder hereof shall be deemed to have represented and warranted that it is not a Benefit Plan and is not purchasing on behalf of or with the assets of a Benefit Plan.
By its acquisition and holding of this Certificate (or any interest herein), each Certificateholder that is a governmental plan, church plan or foreign plan shall be deemed to represent and warrant that its acquisition, holding and disposition of
the Certificate (or interest therein) will not result in a nonexempt prohibited transaction under, or a violation of, any applicable law that is substantially similar to ERISA or Section 4975 of the Code. 
 It is the intention of the parties to the Trust Agreement that, solely for income and franchise tax purposes, (i) so long as there is a single
Certificateholder, the Issuer will be disregarded as an entity separate from such Certificateholder, and if there is more than one Certificateholder, the Issuer will be treated as a partnership; (ii) the Seller will be disregarded as an entity
separate from COAF; and (iii) the Notes will be characterized as debt. By accepting this Certificate, the Certificateholder agrees to take no action inconsistent with the foregoing intended tax treatment. 
  

 A-2 

 By accepting this Certificate, the Certificateholder acknowledges that this Certificate represents a
beneficial interest in the Issuer only and does not represent interests in or obligations of the Seller, the Servicer, the Administrator, the Owner Trustee, the Indenture Trustee or any of their respective Affiliates and no recourse may be had
against such parties or their assets, except as expressly set forth or contemplated in this Certificate, the Trust Agreement or any other Transaction Document. 
  

 A-3 

 IN WITNESS WHEREOF, the Issuer has caused this Certificate to be duly executed. 
  
  

									
		 		 		 	CAPITAL ONE AUTO FINANCE TRUST 2006-C
					
		 		 		 	By:	 	Wilmington Trust Company, not in its individual capacity, but solely as Owner Trustee
					
	Dated:	 	___________________	 		 	By:	 	  

		 		 		 	Name:	 	  

		 		 		 	Title:	 	  

  

 A-4 

 OWNER TRUSTEE’S CERTIFICATE OF AUTHENTICATION 
 This is the Certificate referred to in the within-mentioned Trust Agreement. 
  

			
	WILMINGTON TRUST COMPANY, not in its individual capacity but solely as Owner Trustee
		
	By:	 	  

		 	Authenticating Agent
		
	By:	 	  

		 	Authorized Signatory

  

 A-5

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