Document:

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                                                                    EXHIBIT 10.6

                  FORM OF THE MANAGEMENT AGREEMENT DATED AS OF
           MARCH 30, 2001, AMONG AMERICAN ACHIEVEMENT CORPORATION, ITS
              SUBSIDIARIES LISTED THEREIN AND CASTLE HARLAN, INC.

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                              MANAGEMENT AGREEMENT

         AGREEMENT made as of March 30, 2001, by and among Castle Harlan, Inc.,
a Delaware corporation ("CHI"), Commemorative Brands Holding Corp., a Delaware
corporation ("CBI Holding"), Educational Communications, Inc., a Delaware
corporation and a direct subsidiary of CBI Holding ("ECI"), Commemorative
Brands, Inc., a Delaware corporation and a direct subsidiary of CBI Holding
("CBI"), TP Holding Corp., a Delaware corporation and an indirect subsidiary of
CBI Holding, ("TPH") and Taylor Publishing Company, a Delaware corporation and
subsidiary of TPH ("TPC", and together with CBI Holding, CBI and TPH,
collectively, the "Obligors").

                              W I T N E S S E T H:
                              - - - - - - - - - -

         WHEREAS, the Obligors desire to retain CHI to provide business and
organizational strategy, financial and investment management, advisory and
merchant and investment banking services to the Obligors, upon the terms and
conditions hereinafter set forth, and CHI is willing to undertake such
obligations.

         NOW, THEREFORE, in consideration of the mutual covenants and agreements
hereinafter set forth, the parties hereto agree as follows:

         1. APPOINTMENT. Each Obligor hereby engages CHI, and CHI hereby agrees,
upon the terms and subject to the conditions set forth herein, to provide
certain services to the Obligors as described in Section 3 hereof.

         2. TERM.

            (a) The term of this Agreement shall be for an initial term of ten
(10) years. Such term shall be renewed automatically for additional one-year
terms thereafter unless CHI or the Obligors shall give notice in writing within
90 days before the expiration of the initial five-year term or any one-year
renewal thereof of its desire to terminate this Agreement, such termination to
become effective at the end of the then current term. The provisions of
Paragraph 6 and otherwise as the context so requires shall survive the
termination of this Agreement.

            (b) If Castle Harlan Partners II, L.P., Castle Harlan Partners III,
L.P. and their affiliates and partners shall own less than 5% of the then
aggregate outstanding capital stock of any Obligor, this Agreement shall be
subject to renegotiation by the Board of Directors of such Obligor.

         3. DUTIES OF CHI. CHI shall provide the Obligors with consulting
services (collectively, the "Consulting Services"), as and to the extent
reasonably requested from time to time by the Obligors, related to the
following:

                  (i) business and organizational strategy, including strategy
     relating to

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                  (a) (development of new products and new markets, and analysis
     and research related thereto;

                  (b) new product implementation;

                  (c) development of broad business growth strategies; and

                  (ii) human resource management, including

                  (a) design and development of incentive and bonus programs for
     management teams;

                  (b) assistance with senior executive hiring decisions;

                  (c) coordination of activities of compensation committees of
     the respective Board of Directors of the Obligors;

                  (d) design and development of employee stock ownership
     programs; and

                  (iii) public relations and related matters, including

                  (a) assistance in developing an enhanced public relations
     program designed to broaden name recognition of the Obligors in the
     business community;

                  (b) advice on general labor matters; and

                  (iv) financial and investment management, merchant and
     investment banking and corporate finance services, including

                  (a) identification and implementation of merger and
     acquisition opportunities for the Obligors for which CHI may receive
     additional consideration;

                  (b) assistance with negotiation of loan documentation
     (including amendments thereto) and lender relationships on an ongoing
     basis;

                  (c) advice regarding acquisition strategies and responses to
     external proposals; and

                  (d) advice regarding additional capital requirements.

         Without limitation if any of the foregoing, representatives of CHI may
participate, without additional compensation, on the Obligors' and certain of
their affiliates' Boards of Directors and Board Committees.

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         3.1 EXCLUSIONS FROM "CONSULTING SERVICES". Notwithstanding anything in
the foregoing to the contrary, the following services are specifically excluded
from the definition of "Consulting Services":

             (i) INDEPENDENT ACCOUNTING SERVICES. Accounting services rendered
     to any Obligor or CHI with prior notice and consultation with such
     Obligor's management, by an independent accounting firm or accountant
     (I.E., an accountant who ---- is not an employee of CHI);

             (ii) INDEPENDENT ACTUARIAL SERVICES. Actuarial services rendered to
     any Obligor or CHI with prior notice and consultation with the management
     of such Obligor, by an independent actuarial firm or actuary (I.E., an
     actuary who is not an employee of CHI).

             (iii) LEGAL SERVICES. Legal services rendered to any Obligor or CHI
     with prior notice and consultation with the management of such Obligor, by
     an independent law firm or attorney (I.E., an attorney who is not an
     employee of CHI); and

             (iv) TRANSACTION SERVICES. Services in connection with any
     transaction in which Obligors or any of their respective subsidiaries may
     be, or may consider becoming, involved, it being understood that CHI shall
     have the right of first refusal concerning all opportunities to perform,
     for an additional fee, any of such transaction related services. Such right
     must be exercised within 30 business days of receipt by CHI of such offer.

         4. POWERS OF CHI. So that it may properly perform its duties hereunder,
CHI shall, subject to Section 7 hereof, have the authority to do all things
necessary and proper to carry out the duties set forth in Section 3 hereof.

         5. COMPENSATION AND REIMBURSEMENT. As consideration payable to CHI or
any of its affiliates for providing the Consulting Services to the Obligors, the
Obligors hereby agree, jointly and severally, to pay to CHI on a fiscal
quarterly basis in arrears, payable on the last business day of each fiscal
quarter commencing on last business day of the fiscal quarter following the
Closing Date (and defined in the Credit Agreement, as defined below) an annual
management fee of $3,000,000 (the "Annual Fee") commencing fiscal year 2002 (the
annual management fee to be paid during fiscal year 2001 to equal $3,265,000,
$640,000 of which shall be paid on the Closing Date and $625,000 of which has
already been paid) so long as such payments are not in violation of the Second
Amended and Restated Credit Agreement, dated as of March ___, 2001 (as amended
or modified from time to time, the "Credit Agreement"), by CBI, TPH, ECI, TPC,
and Taylor Production Services Company, L.P., as borrowers, Heller Financial,
Inc., as agent, and the various lenders from time to time parties thereto. Such
payments shall accrue to the extent not paid. In addition to the Annual Fee, the
Obligors hereby agree, jointly and severally, to, at the direction of CHI, pay
directly or reimburse CHI for its Out-of-Pocket Expenses (as hereinafter
defined) incurred in connection with the Consulting Services provided for in
Section 3 hereof. For purposes of this Agreement, the term "Out-of-Pocket
Expenses" shall mean the reasonable amounts paid by CHI in connection with the
Consulting Services provided for in Section 3, including (i) fees and
disbursements of any independent

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professionals and organizations, including independent auditors and outside
legal counsel, investment bankers or other financial advisors or consultants,
(ii) costs of any outside services of independent contractors such as financial
printers, couriers, business publications or similar services and (iii)
transportation, per diem, telephone calls, entertainment and all other
reasonable expenses actually incurred by CHI in rendering the Consulting
Services provided for herein. All reimbursements for Out-of-Pocket Expenses
shall be made promptly upon or as soon as practicable after presentation by CHI
to the Obligors of the statement in connection therewith. Notwithstanding the
foregoing, at any time and so long as CBI shall be in default with respect to
any payment under the indenture dated as of December 16, 1996 (the "Indenture"),
and any amendment thereof, between CBI and HSBC Bank USA (formerly known as
Marine Midland Bank) (as Trustee), CBI may defer payment of any fees payable
hereunder until such time as CBI shall no longer be in default or no Notes (as
defined in the Indenture) remain outstanding.

         6. INDEMNIFICATION. The Obligors hereby agree, jointly and severally,
to indemnify and hold harmless CHI and its officers, directors, employees,
agents, representatives and affiliates (each being an "Indemnified Party") from
and against any and all losses, claims, damages and liabilities to which such
Indemnified Party may become subject under any applicable federal or state law,
any claim made by any third party or otherwise, relating to or arising out of
the advisory and the Consulting Services contemplated by this Agreement or the
engagement of CHI pursuant to, and the performance or alleged performance by CHI
or such Indemnified Party of the Consulting Services, and the Obligors shall
jointly and severally reimburse any Indemnified Party for all costs and expenses
(including reasonable attorneys' fees and expenses) as they are incurred in
connection with the investigation of, preparation for or defense of any pending
or threatened claim, or any action or proceeding arising therefrom, whether or
not such Indemnified Party is a party thereto. The Obligors will not be liable
under the foregoing indemnification provision to the extent that any loss,
claim, damage, liability, cost or expense is determined by a court, in a final
judgment from which no further appeal may be taken, to have resulted solely from
the gross negligence or willful misconduct of CHI. The reimbursement and
indemnity obligations of the Obligors under this Section shall be in addition to
any liability which the Obligors may otherwise have, shall extend upon the same
terms and conditions to any affiliate of CHI and the stockholders, officers,
directors, employees, agents, representatives, affiliates and controlling
persons (if any), as the case may be, of CHI and any such affiliate and shall be
binding upon and inure to the benefit of any successors, assigns, heirs and
personal representatives of the Obligors, CHI, any such affiliate and any such
person. The foregoing provisions shall survive the termination of this
Agreement.

         7. INDEPENDENT CONTRACTORS. Nothing herein shall be construed to create
a joint venture or partnership between the parties hereto or an
employee/employer relationship. CHI shall be an independent contractor pursuant
to this Agreement. The parties hereto shall have no express or implied right or
authority to assume or create any obligations on behalf of or in the name of the
other parties or to bind the other parties to any contract, agreement or
undertaking with any third party.

         8. NOTICES. Any notice or other communications required or permitted to
be given hereunder shall be in writing and delivered by hand or mailed by
registered or certified mail, return receipt requested, or by telecopier to the
party to whom it is to be given at its address set forth herein, or to such
other address as the party shall have specified by notice similarly

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given and the mailing date shall be deemed the date from which all time periods
pertaining to a date of notice shall run.

                                    (i)     If to TPH or TPC, to them at:

                                            1550 W. Mockingbird Lane
                                            Dallas, Texas  75235
                                            Attention:  Mr. Steve Kreider
                                            Fax:  (714) 542-8078

                                    (ii)    If to CBI, to it at:

                                            7211 Circle S. Road
                                            Austin, Texas 78745-6603
                                            Attention:  Mr. David G. Fiore
                                            Fax:  (512) 443-5213

                                    (iii)   If to CBI Holding or CHI, to it at:

                                            150 East 58th Street
                                            37th Floor
                                            New York, New York 10155
                                            Attention:  Mr. David B. Pittaway
                                            Fax:  (212) 207-8042

                                    with a copy to:

                                            Schulte Roth & Zabel LLP
                                            919 Third Avenue
                                            New York, New York  10022
                                            Attention:  Marc Weingarten, Esq.
                                            Fax:  (212) 593-5955

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         9. ASSIGNMENT. This Agreement shall inure to the benefit of and be
binding upon the parties and their successors and permitted assigns. However,
neither this Agreement nor any of the rights of the parties hereunder may be
transferred or assigned by the parties hereto, except that (i) if any Obligor
shall merge or consolidate with or into, or sell or otherwise transfer
substantially all of its assets to, another entity that assumes such Obligor's
obligations under this Agreement, such Obligor may assign its rights hereunder
to that entity, and (ii) CHI may assign its rights and obligations hereunder to
any other person or entity controlled, directly or indirectly, by John K. Castle
and/or Leonard M. Harlan. Any attempted transfer or assignment in violation of
this Section 9 shall be void.

         10. PERMISSIBLE ACTIVITIES. Nothing herein shall in any way preclude
CHI or its affiliates or its respective officers, directors and partners from
engaging in any business activities or from performing services for its or their
own account or for the account of others, including companies which may be in
competition with the business conducted by any Obligor.

         11. GENERAL. No amendment or waiver of any provision of this Agreement,
or consent to any departure by either party from any such provision, shall in
any event be effective unless the same shall be in writing and signed by the
parties to this Agreement and then such amendment, waiver or consent shall be
effective only in the specific instance and for the specific purpose for which
given. The waiver of any party of any breach of this Agreement shall not operate
or be construed to be a waiver of any subsequent breach.

         12. ENTIRE AGREEMENT.

             (a)This Agreement contains the entire agreement between the parties
hereto and supersedes all prior agreements and understandings, oral and written,
among the parties hereto with respect to the subject matter hereof.

             (b) CBI and CHI hereby acknowledge that this Agreement supersedes
the Management Agreement dated as of December 16, 1996, between CBI (formerly
known as Scholastic Brands, Inc.) and CHI (the "Prior CBI Management Agreement")
and that the Prior CBI Management Agreement is hereby terminated in accordance
with its terms; provided, however, that any accrued fees and expenses, if any,
payable by CBI to CHI shall be payable by CBI on the Closing Date.

             (c) TPH, TPC and CHI hereby acknowledge that this Agreement
supersedes the Management Agreement dated as of February 11, 2000, among TPH
(formerly known as TP Acquisition Corp.), TPC and CHI (the "Prior Taylor
Management Agreement") and that the Prior Taylor Management Agreement is hereby
terminated in accordance with its terms; provided, however, that any accrued
fees and expenses, if any, payable by TPH and/or TPC to CHI shall be payable by
such parties on the Closing Date.

             (d) CBI Holding, CBI, TPH, TPC, and CHI hereby acknowledge that
this Agreement supersedes the Management Agreement dated as of July 21, 2000,
between CBI Holding, CBI, TPH, TPC, and CHI (the "Prior July 2000 Management
Agreement") and that the Prior July 2000 Management Agreement is hereby
terminated in accordance with its terms;

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provided, however, that any accrued fees and expenses, if any, payable by party
thereto to CHI shall be payable by such parties on the Closing Date.

         13. SECTION HEADINGS. The section headings contained herein are
included for convenience of reference only and shall not constitute a part of
this Agreement for any other purpose.

         14. APPLICABLE LAW. This agreement and the rights and obligations of
the parties hereunder shall be governed by, and construed and interpreted in
accordance with, the internal laws of the State of New York. Each of the parties
hereto hereby irrevocably submits to the exclusive jurisdiction of any Federal
court sitting in the Southern District of New York over any suit, action or
proceeding arising out of or relating to this agreement. Each of the parties
hereto hereby irrevocably waives, to the fullest extent permitted or not
prohibited by law, any objection which it may now or hereafter have to the
laying of the venue of any such suit, action or proceeding brought in such a
court and any claim that any such suit, action or proceeding brought in such a
court has been brought in an inconvenient forum. Each of the parties hereto
hereby irrevocably consents to the service of process in any suit, action or
proceeding by sending the same by certified mail, return receipt requested or by
overnight courier service, to the address of such party set forth in Section 8
or in the records of the Company. EACH PARTY HERETO WAIVES ANY RIGHT IT MAY HAVE
TO TRIAL BY JURY IN ANY ACTION BROUGHT HEREUNDER OR ARISING OUT OF THE
TRANSACTIONS CONTEMPLATED HEREBY.

         15. SEVERABILITY. If any section, clause, sentence, provision,
subparagraph or paragraph of this Agreement is held by a court of competent
jurisdiction to be invalid, illegal or ineffective for any reason, such section,
clause, sentence, provision, subparagraph or paragraph so held to be invalid,
illegal or ineffective shall be ineffective, but the effect thereof shall not
impair, invalidate or nullify the remainder of this Agreement, and the remainder
of the terms, provisions, covenants and restrictions of this Agreement shall
remain in full force and effect and in no way shall be affected, impaired or
invalidated.

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         IN WITNESS WHEREOF, the parties hereto have signed this Agreement as of
the day and year first above written.

                                    CASTLE HARLAN, INC.

                                    By:  /s/  David B. Pittaway
                                       -----------------------------------------
                                       Name:  David B. Pittaway
                                       Title:  Senior Managing Director

                                    COMMEMORATIVE BRANDS HOLDING
                                       CORP.

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

                                    COMMEMORATIVE BRANDS, INC.

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

                                    EDUCATIONAL COMMUNICATIONS, INC.

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

                                    TP HOLDING CORP.

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

                                    TAYLOR PUBLISHING COMPANY

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

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                                                                   EXHIBIT 10.7

          LETTER AGREEMENT, DATED AS OF OCTOBER 11, 2000, AMENDED AS OF
           NOVEMBER 3, 2000, BETWEEN SCOTIABANK AND TP HOLDINGS CORP.,
                                    REGARDING
      (i) USD 27,500,000.00MM INTEREST RATE SWAP TRANSACTION (REF: S24041)
                                       AND
     (ii) USD 25,000,000.00 MM INTEREST RATE SWAP TRANSACTION (REF: S24042)

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SCOTIABANK
THE BANK OF NOVA SCOTIA
International Banking Division
Derivative Products
44 King St. West, 14th Floor, Toronto, Ontario, Canada M5H 1H1
(416) 86~5-54l5

                                                                October 11, 2000
                                                        Amended November 3, 2000

TP HOLDINGS CORP
1550 W. Mockingbird Lane
Dallas, Texas 75235

ATTENTION: STEVEN KREIDER, CFO

               Re:     The Bank of Nova Scotia ("Party A")/TP Holdings
                       Corp ("Party B") Swap Transaction Our Reference
                       No. S24042 (Previously S23703)
                       -----------------------------------------------
Dear Sirs,

               This transaction was affected through Scotia Capital (USA) Inc.,
a U.S. broker-dealer subsidiary of the Bank of Nova Scotia (BNS), who acted as
agent in the transaction.

               The purpose of this letter is to confirm the terms and conditions
of the transaction entered into between us on the Trade Date specified below
(the "Transaction"). This letter agreement constitutes a "Confirmation" as
referred to in the ISDA Agreement specified below.

               The definitions and provisions contained in the 1991 ISDA
Definitions (as amended and supplemented by the 1998 Supplement to the 1991 ISDA
Definitions) as published by the International Swaps and Derivatives
Association, Inc. ("ISDA") are incorporated into this Confirmation. This
Confirmation is subject to and incorporates the definitions contained in Section
14 of the form of the 1992 ISDA Master Agreement (Multicurrency - Cross Border),
but without any Schedule or other modification thereto, as published by ISDA
(the "ISDA Agreement"). In the event of any inconsistency between the
definitions contained in Section 14 of the ISDA Agreement and this Confirmation,
this Confirmation will govern. Until such time as an ISDA Agreement is entered
into between you and us, this Confirmation evidences a complete binding
agreement between you and us as to the terms of the Transaction to which this
Confirmation relates. Upon execution by you and us of an ISDA Agreement, with
such ISDA Agreement incorporating such modifications as you and we shall in good
faith agree, this Confirmation will supplement, form part of, and be subject to,
the ISDA Agreement. All provisions contained in the ISDA Agreement upon its
execution shall govern this Confirmation except as expressly modified below.

               1. Each party will make each payment specified in this
Confirmation as being payable by it, not later than the due date for value on
that date in the place specified below, in freely transferable funds and in the
manner customary for such payments in the required

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currency. If on any date amounts would otherwise be payable in the same currency
by each party to the other, then, on such date, each party's obligation to make
payment of any such amount will be automatically satisfied and discharged and,
if the aggregate amount that would otherwise have been payable by one party
exceeds the aggregate amount that would otherwise have been payable by the other
party, replaced by an obligation upon the party by whom the larger aggregate
amount would have been payable to pay to the other party the excess of the
larger aggregate amount over the smaller aggregate amount.

               2. The following provisions will govern this Transaction until
such time as an ISDA Agreement is entered into between you and us whereupon such
provisions shall be replaced by the terms of the ISDA Agreement:

                    (a) If at any time, a party hereto shall (i) fail to make,
     when due, any payment required of it under this Confirmation and if such
     failure is not remedied within three Business Days following written notice
     of such failure; (ii) fail to deliver, when due, any Collateral (as defined
     below) required of it under this Confirmation; or (iii) becomes subject to
     a Bankruptcy (as defined in Section 5(a)(vii) of the ISDA Agreement) (such
     party being hereinafter referred to as the "Defaulting Party"), then the
     other party (hereinafter referred to as the "Non-defaulting Party"), shall
     have the right to early terminate and liquidate this Transaction, together
     with all other Specified Transaction entered into between Party A and Party
     B (collectively the "Terminated Transactions") and determine a net amount
     due in respect of the Terminated Transactions in accordance with the early
     termination payment calculation provisions of Section 6(e)(i) of the ISDA
     Agreement based on a payment measure of Loss and a payment method of Second
     Method. For purposes of giving effect to the foregoing, the Termination
     Currency shall be United States Dollars.

                    (b) The Non-defaulting Party may exercise its right to early
     termination and liquidate the Terminated Transactions by written notice to
     the Defaulting Party, which notice shall set forth the amount of the
     termination payment derived by the Non-defaulting Party as set forth above;
     provided that, in the event the Defaulting Party becomes subject to a
     Bankruptcy in the nature of any one of the events specified in Section
     5(a)(vii) (1), (3), (4), (5), (6) or, to the extent analogous thereto, (8),
     of the ISDA Agreement and any court, tribunal or regulatory authority with
     competent jurisdiction acting pursuant to any bankruptcy or insolvency law
     or other similar law affecting the Defaulting Party makes an order which
     has or purports to have the effect of prohibiting the Non-defaulting Party
     from terminating the Terminated Transactions at any time after the
     occurrence of any such events, then the Terminated Transactions shall be
     deemed to have been terminated immediately upon the occurrence of any of
     the events specified in Section 5(a)(vii) (1) (3), (5), (6) or, to the
     extent analogous thereto, (8) and as of the time immediately preceding the
     institution of the relevant proceeding or the presentation of the relevant
     petition in respect of Section 5(a)(vii) (4) or, to the extent analogous
     thereto, (8).

                    (c) In the event the termination payment derived in
     accordance with the foregoing represents an amount owing by the
     Non-defaulting Party to the Defaulting Party, the Non-defaulting Party
     shall have the right to set off such termination payment against any
     amounts payable (whether at such time or in the future or upon the

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     occurrence of a contingency) by the Defaulting Party to the Non-defaulting
     Party (irrespective of the currency or the place of payment of the
     obligation) under any other agreement between the Defaulting Party and the
     Non-defaulting Party (the "Other Agreement Amount"). For this purpose, the
     termination payment of the Other Agreement Amount may be converted into the
     currency in which the other is denominated by the Non-defaulting Party
     acting in a commercially reasonable manner. If all or part of the Other
     Agreement Amount is not then due, such Other Agreement Amount, or part
     thereof, may be present-valued by the Non-defaulting Party acting in a
     commercially reasonable manner. If all or part of the Other Agreement
     Amount is unascertained, the Non-defaulting Party may in good faith
     estimate such amount and set off in respect of the estimate subject to
     accounting to the Defaulting Party when the obligation is ascertained.

               3. Each of the parties hereto makes to the other each of the
"Basic Representations" contained in Section 3(a) and (c) of the ISDA Agreement.

               4. Neither this Confirmation nor any interest or obligation in or
under this Confirmation may be transferred (whether by way of security or
otherwise) by either party without the prior written consent of the other party
and any purported transfer in violation hereof shall be void.

               5. The Confirmation will be governed and construed in accordance
with the laws of the State of New York.

               6. The terms of the particular Transaction to which this
Confirmation relates are as follows:

Notional Amount:          USD 25,000,000.00

Trade Date:               Oct 11, 2000

Effective Date:           Oct 13, 2000

Termination Date          Mar 31, 2003; subject to adjustment in accordance with
                          the Modified Following Business Day Convention

FIXED AMOUNTS:

Fixed Rate Payer:         TP HOLDINGS CORP

Fixed Rate Payer          Adjusted in accordance with the Modified Following
Payment Dates:            Business Day Convention.

              Dec 29, 2000     Mar 30, 2001     Jun 29, 2001     Sep 28, 2001
              Dec 31, 2001     Mar 28, 2002     Jun 28, 2002     Sep 30, 2002
              Dec 31, 2002     Mar 31, 2003

                                       -4-
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Fixed Rates:                    6.60% Paid Quarterly

Fixed Rate Day
Count Fraction:                 Actual/36O

Business Days
for Payments                    London, New York

F1OATING AMOUNTS:

     Floating Rate Payer:     THE BANK OF NOVA SCOTIA

     Floating Rate Payer
     Payment Dates:           Adjusted in accordance with the Modified
                              Following Business Day Convention.

           Dec 29, 2000    Mar 30, 2001    Jun 29, 2001    Sep 28, 2001
           Dec 3l, 2001    Mar 28, 2002    Jun 28, 2002    Sep 30, 2002
           Dec 31, 2002    Mar 31, 2003

Floating Rate for initial
Calculation Period:           6.65% (For the period Oct 13, 2000 to
                              Dec 29, 2000)

Floating Rate Option:         USD-LIBOR-BBA

Floating Rate Day
Count Fraction:               Actual/360

Designated Maturity:          3-month

Spread:                       None

Reset Dates:                  The first date of the relevant
                              Calculation period.

Compounding:                  Inapplicable

'Business Days
for Payments:                 London, New York

Business Days
for Rate Resets:              London

Calculation Agent:        The Bank of Nova Scotia

                                       -5-
<Page>

               7. Credit Support Documents: As per Credit Agreement Dated as of
July 27, 2000

               8. Relationship Between Parties:

               Each party will be deemed to represent to the other on the date
of this Confirmation on which it enters into a Transaction that (absent a
written agreement between the parties that expressly imposes affirmative
obligations to the contrary for the Transaction):

                    (a)  NON-RELIANCE. It is acting for its own account, and it
     has made its own independent decisions to enter into that Transaction and
     as to whether that Transaction is appropriate or proper for it based upon
     its own judgment and upon advise from such advisors as it has deemed
     necessary. It is not relying on any communication (written or oral) of the
     other party as investment advise or as a recommendation to enter into that
     Transaction; it being understood that information and explanations related
     to the terms and conditions of a Transaction shall not be considered
     investment advise or a recommendation to enter into that Transaction. It
     has not received from the other party any assurance or guarantee as to the
     expected results of that Transaction.

                    (b)  ASSESSMENT AND UNDERSTANDING. It is capable of
     assessing the merits of and understanding (on its own behalf or through
     independent professional advise), and understands and accepts, the terms,
     conditions and risks of that Transaction. It is also capable of assuming
     and assumes, the risk of that Transaction.

                    (c)  STATUS OF PARTIES. The other party is not acting as a
     fiduciary for or as an advisor to it in respect of that Transaction.

                    (d)  COMMITMENT TO UNWIND. Neither party has committed to
     unwind any Transaction.

               9. Offices

                    (a)  For purposes of this Transaction, the Office of The
     Bank of Nova Scotia is Toronto, Ontario.

                    (b)  For purposes of this Transaction, the Office of TP
     Holdings Corp is Dallas, Texas.

               10.  Account Details

Payments to THE BANK OF NOVA SCOTIA:

               Accounts for payments in USD:  The Bank of Nova Scotia
                                              New York Agency
                                              1 Liberty Plaza, 165 Broadway
                                              26th Floor, N.Y., New York
                                              ABA 0260-02532 A/C 6027-36
                                              Attn: Derivative Products

                                       -6-
<Page>

Payments to TP HOLDINGS CORP:

               Accounts for payments in USD:  (Please provide upon return fax to
                                              ensure prompt payment procedures)

               11.  The parties hereto agree that this Confirmation, whether
received in original or facsimile form, may be executed in counterparts, which
execution may be effected by means of facsimile transmission, and which when
taken together shall constitute a single and original agreement between the
parties and a binding supplement to the Agreement. Where execution is effected
by means of facsimile transmission, the parties agree that the sender's
signature as printed by the recipient's facsimile machine shall be deemed to be
the sender's original signature.

               Please confirm that the foregoing correctly sets forth the terms
of our agreement by executing the copy of this Confirmation enclosed for that
purpose and returning it to us.

                                            Yours sincerely,

                                            THE BANK OF NOVA SCOTIA

                                            By:/s/ Kathryn J. Iozzo
                                               --------------------------------
                                            Name:    Kathryn J. Iozzo
                                            Title:   Manager

                                            By:/s/ Chris Colman
                                               --------------------------------
                                            Name:    Chris Colman
                                            Title:   Confirmation Officer

Confirmed as of the date first written:

TP HOLDINGS CORP

By: /s/ Stephen Kreider
    ---------------------------------------
Name:    Stephen Kreider
Title:   CFO

By: /s/ Steven J. Bauer
    ---------------------------------------
Name:    Steven J. Bauer
Title:   Controller

                                       -7-
<Page>

SCOTIABANK
THE BANK OF NOVA SCOTIA
International Banking Division
Derivative Products
44 King St. West, 14th Floor, Toronto, Ontario, Canada M5H 1H1
(416) 865-54l5

                                                                October 11, 2000
                                                        Amended November 3, 2000

TP HOLDINGS CORP
1550 W. Mockingbird Lane
Dallas, Texas  75235

ATTENTION: STEVEN KREIDER, CFO

              Re:    The Bank of Nova Scotia ("Party A")/TP Holdings
                     Corp ("Party B") Swap Transaction Our Reference
                     No. S24041 (Previously S23702)
                     -----------------------------------------------
Dear Sirs,

               This transaction was affected through Scotia Capital (USA) Inc.,
a U.S. broker-dealer subsidiary of the Bank of Nova Scotia (BNS), who acted as
agent in the transaction.

               The purpose of this letter is to confirm the terms and conditions
of the transaction entered into between us on the Trade Date specified below
(the "Transaction"). This letter agreement constitutes a "Confirmation" as
referred to in the ISDA Agreement specified below.

               The definitions and provisions contained in the 1991 ISDA
Definitions (as amended and supplemented by the 1998 Supplement to the 1991 ISDA
Definitions) as published by the International Swaps and Derivatives
Association, Inc. (ISDA") are incorporated into this Confirmation. This
Confirmation is subject to and incorporates the definitions contained in Section
14 of the form of the 1992 ISDA Master Agreement (Multicurrency - Cross Border),
but without any Schedule or other modification thereto, as published by ISDA
(the "ISDA Agreement"). In the event of any inconsistency between the
definitions contained in Section 14 of the ISDA Agreement and this Confirmation,
this Confirmation will govern. Until such time as an ISDA Agreement is entered
into between you and us, this Confirmation evidences a complete binding
agreement between you and us as to the terms of the Transaction to which this
Confirmation relates. Upon execution by you and us of an ISDA Agreement, with
such ISDA Agreement incorporating such modifications as you and we shall in good
faith agree, this Confirmation will supplement, form part of, and be subject to,
the ISDA Agreement. All provisions contained in the ISDA Agreement upon its
execution shall govern this Confirmation except as expressly modified below.

               1. Each party will make each payment specified in this
Confirmation as being payable by it, not later than the due date for value on
that date in the place specified below, in freely transferable funds and in the
manner customary for such payments in the required

<Page>

currency. If on any date amounts would otherwise be payable in the same currency
by each party to the other, then, on such date, each party's obligation to make
payment of any such amount will be automatically satisfied and discharged and,
if the aggregate amount that would otherwise have been payable by one party
exceeds the aggregate amount that would otherwise have been payable by the other
party, replaced by an obligation upon the party by whom the larger aggregate
amount would have been payable to pay to the other party the excess of the
larger aggregate amount over the smaller aggregate amount.

               2. The following provisions will govern this Transaction until
such time as an ISDA Agreement is entered into between you and us whereupon such
provisions shall be replaced by the terms of the ISDA Agreement:

                    (a)  If at any time, a party hereto shall (i) fail to make,
     when due, any payment required of it under this Confirmation and if such
     failure is not remedied within three Business Days following written notice
     of such failure; (ii) fail to deliver, when due, any Collateral (as defined
     below) required of it under this Confirmation; or (iii) becomes subject to
     a Bankruptcy (as defined in Section 5(a)(vii) of the ISDA Agreement) (such
     party being hereinafter referred to as the "Defaulting Party"), then the
     other party (hereinafter referred to as the "Non-defaulting Party"), shall
     have the right to early terminate and liquidate this Transaction, together
     with all other Specified Transaction entered into between Party A and Party
     B (collectively the "Terminated Transactions") and determine a net amount
     due in respect of the Terminated Transactions in accordance with the early
     termination payment calculation provisions of Section 6(e)(i) of the ISDA
     Agreement based on a payment measure of Loss and a payment method of Second
     Method. For purposes of giving effect to the foregoing, the Termination
     Currency shall be United States Dollars.

                    (b)  The Non-defaulting Party may exercise its right to
     early termination and liquidate the Terminated Transactions by written
     notice to the Defaulting Party, which notice shall set forth the amount of
     the termination payment derived by the Non-defaulting Party as set forth
     above; provided that, in the event the Defaulting Party becomes subject to
     a Bankruptcy in the nature of any one of the events specified in Section
     5(a)(vii) (1), (3), (4), (5), (6) or, to the extent analogous thereto, (8),
     of the ISDA Agreement and any court, tribunal or regulatory authority with
     competent jurisdiction acting pursuant to any bankruptcy or insolvency law
     or other similar law affecting the Defaulting Party makes an order which
     has or purports to have the effect of prohibiting the Non-defaulting Party
     from terminating the Terminated Transactions at any time after the
     occurrence of any such events, then the Terminated Transactions shall be
     deemed to have been terminated immediately upon the occurrence of any of
     the events specified in Section 5(a)(vii) (1), (3), (5), (6) or, to the
     extent analogous thereto, (8) and as of the time immediately preceding the
     institution of the relevant proceeding or the presentation of the relevant
     petition in respect of Section 5(a)(vii) (4) or, to the extent analogous
     thereto, (8).

                    (c)  In the event the termination payment derived in
     accordance with the foregoing represents an amount owing by the
     Non-defaulting Party to the Defaulting Party, the Non-defaulting Party
     shall have the right to set off such termination payment against any
     amounts payable (whether at such time or in the future or upon the

                                       -2-
<Page>

     occurrence of a contingency) by the Defaulting Party to the Non-defaulting
     Party (irrespective of the currency or the place of payment of the
     obligation) under any other agreement between the Defaulting Party and the
     Non-defaulting Party (the "Other Agreement Amount"). For this purpose, the
     termination payment of the Other Agreement Amount may be converted into the
     currency in which the other is denominated by the Non-defaulting Party
     acting in a commercially reasonable manner. If all or part of the Other
     Agreement Amount is not then due, such Other Agreement Amount, or part
     thereof, may be present-valued by the Non-defaulting Party acting in a
     commercially reasonable manner. If all or part of the Other Agreement
     Amount is unascertained, the Non-defaulting Party may in good faith
     estimate such amount and set off in respect of the estimate subject to
     accounting to the Defaulting Party when the obligation is ascertained.

               3. Each of the parties hereto makes to the other each of the
"Basic Representations" contained in Section 3(a) and (c) of the ISDA Agreement.

               4. Neither this Confirmation nor any interest or obligation in or
under this Confirmation may be transferred (whether by way of security or
otherwise) by either party without the prior written consent of the other party
and any purported transfer in violation hereof shall be void.

               5. The Confirmation will be governed and construed in accordance
with the laws of the State of New York.

               6. The terms of the particular Transaction to which this
Confirmation relates are as follows:

Notional Amount:               USD 27,500,000.00

Trade Date:                    Oct 11, 2000

Effective Date:                Oct 13, 2000

Termination Date               Mar 31, 2003; subject to adjustment in
                               accordance with the Modified Following
                               Business Day Convention

FIXED AMOUNTS:

Fixed Rate Payer:              TP HOLDINGS CORP

Fixed Rate Payer               Adjusted in accordance with the Modified
Payment Dates:                 Following Business Day Convention.

               Dec 29, 2000     Mar 30, 2001     Jun 29, 2001     Sep 28, 2001
               Dec 31, 2001     Mar 28, 2002     Jun 28, 2002     Sep 30, 2002
               Dec 31, 2002     Mar 31, 2003

                                       -3-
<Page>

Fixed Rates:                   6.6% Paid Quarterly

Fixed Rate Day
Count Fraction:                Actual/360

Business Days
for Payments                   London, New York

F1OATING AMOUNTS:

     Floating Rate Payer:     THE BANK OF NOVA SCOTIA

     Floating Rate Payer
     Payment Dates:           Adjusted in accordance with the Modified
                              Following Business Day Convention.

          Dec 29, 2000     Mar 30, 2001     Jun 29, 2001     Sep 28, 2001
          Dec 31, 2001     Mar 28, 2002     Jun 28, 2002     Sep 30, 2002
          Dec 31, 2002     Mar 31, 2003

Floating Rate for initial
Calculation Period:            6.65% (For the period Oct 13, 2000 to
                               Dec 29, 2000)

Floating Rate Option:          USD-LIBOR-BBA

Floating Rate Day
Count Fraction:                Actual/360

Designated Maturity:           3-month

Spread:                        None

Reset Dates:                   The first date of the relevant Calculation
                               period.

Compounding:                   Inapplicable

Business Days
for Payments:                  London, New York

Business Days
for Rate Resets:               London

Calculation Agent:         The Bank of Nova Scotia

                                       -4-
<Page>

               7. Credit Support Documents: As per Credit Agreement Dated as of
July 27, 2000

               8. Relationship Between Parties:

               Each party will be deemed to represent to the other on the date
of this Confirmation on which it enters into a Transaction that (absent a
written agreement between the parties that expressly imposes affirmative
obligations to the contrary for the Transaction):

                    (a)  NON-RELIANCE. It is acting for its own account, and it
     has made its own independent decisions to enter into that Transaction and
     as to whether that Transaction is appropriate or proper for it based upon
     its own judgment and upon advise from such advisors as it has deemed
     necessary. It is not relying on any communication (written or oral) of the
     other party as investment advise or as a recommendation to enter into that
     Transaction; it being understood that information and explanations related
     to the terms and conditions of a Transaction shall not be considered
     investment advise or a recommendation to enter into that Transaction. It
     has not received from the other party any assurance or guarantee as to the
     expected results of that Transaction.

                    (b)  ASSESSMENT AND UNDERSTANDING. It is capable of
     assessing the merits of and understanding (on its own behalf or through
     independent professional advise), and understands and accepts, the terms,
     conditions and risks of that Transaction. It is also capable of assuming
     and assumes, the risk of that Transaction.

                    (c)  STATUS OF PARTIES. The other party is not acting as a
     fiduciary for or as an advisor to it in respect of that Transaction.

                    (d)  COMMITMENT TO UNWIND. Neither party has committed to
     unwind any Transaction.

               9. Offices

                    (a)  For purposes of this Transaction, the Office of The
     Bank of Nova Scotia is Toronto, Ontario.

                    (b)  For purposes of this Transaction, the Office of TP'
     Holdings Corp is Dallas, Texas.

               10.  Account Details

Payments to THE BANK OF NOVA SCOTIA:

               Accounts for payments in USD:   The Bank of Nova Scotia
                                               New York Agency
                                               1 Liberty Plaza, 165 Broadway
                                               26th Floor, N.Y., New York
                                               ABA 0260-02532 A/C 6027-36
                                               Attn: Derivative Products

                                      -5-
<Page>

Payments to TP HOLDINGS CORP:

               Accounts for payments in USD: (Please provide upon return fax to
                                             ensure prompt payment procedures)

               11.  The parties hereto agree that this Confirmation, whether
received in original or facsimile form, may be executed in counterparts, which
execution may be effected by means of facsimile transmission, and which when
taken together shall constitute a single and original agreement between the
parties and a binding supplement to the Agreement. Where execution is effected
by means of facsimile transmission, the parties agree that the sender's
signature as printed by the recipient's facsimile machine shall be deemed to be
the sender's original signature.

               Please confirm that the foregoing correctly sets forth the terms
of our agreement by executing the copy of this Confirmation enclosed for that
purpose and returning it to us.

                                           Yours sincerely,

                                           THE BANK OF NOVA SCOTIA

                                           By: /s/ Kathryn J. Iozzo
                                               ---------------------------------
                                           Name:    Kathryn J. Iozzo
                                           Title:   Manager

                                           By: /s/ Chris Colman
                                               ---------------------------------
                                           Name:    Chris Colman
                                           Title:   Confirmation Officer

Confirmed as of the date first written:

TP HOLDINGS CORP

By: /s/ Stephen Kreider
    ----------------------------
Name:     Stephen Kreider
Title:    CFO

By: /s/ Steven J. Bauer
    ----------------------------
Name:     Steven J. Bauer
Title:    Controller

                                      -6-

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