Document:

Exhibit 10.42

Exhibit 10.42

COMMUNICATIONS INFRASTRUCTURE INVESTMENTS, LLC

FIFTH AMENDMENT TO VESTING AGREEMENT

This Fifth Amendment to Vesting Agreement (the “Fifth Amendment”) is effective as of June 1,
2011 and amends that certain Vesting Agreement by and among Communications Infrastructure
Investments, LLC, a Delaware limited liability company (the “Company”), Daniel P. Caruso
(the “Executive”) and the Founder Investors (as defined therein), dated as of December 31, 2007, as
has been amended (the “Vesting Agreement”).

Recitals

Whereas, pursuant to Section 6.7 of the Vesting Agreement, the Vesting Agreement may
be modified or amended at any time and from time to time with the written consent of the Executive,
the Founder Investors and the Company; and

Whereas, the undersigned constitute all of the Executive, the Founder Investors and
the Company.

Now, Therefore, the Vesting Agreement is hereby amended as follows:

1. Section 3.2 (Executive Common Units) of the Vesting Agreement shall be amended to include
the following additional subparagraph:

(e) For the Executive Common Units issued as Class E Common Units on June 1,
2011 (as designated on Schedule A attached hereto) (the “Class E
Executive Common Units”), the Founder Common Investor(s) identified on Schedule
A shall vest into such Class E Executive Common Units as follows: The Class E
Common Units vesting start date is May 15, 2011 (the “Class E Vesting Start
Date”). The issuance date is June 1, 2011 (the “Issuance Date”). The
vesting end date is May 15, 2014 (the “Vesting End Date”). On May 15, 2012
(the “First Vesting Date”), six hundred and sixty nine thousand and one
hundred and forty two (669,142) of the Class E Executive Common Units shall vest and
thereafter, on a monthly basis measured from the First Vesting Date through the
Vesting End Date, a number of Class E Executive Common Units equal to 1/36 of the
aggregate number of Class E Executive Common Units shall vest. The Common Unit
Threshold E, as that term is defined in the LLC Agreement and as it relates to the
Class E Executive Common Units hereunder, shall be $75,000,000.00. Such Class E
Executive Common Units shall receive distributions from the Company pursuant to the
LLC Agreement when the aggregate distributions previously made with respect to
Issued Common Units pursuant to the LLC Agreement are equal to or greater than such
Common Unit Threshold E.

 

 

 

2. Schedule A to the Vesting Agreement shall be replaced with the Schedule A
attached hereto, and shall be effective as of the date hereof.

3. Except as set forth in this Fifth Amendment, the Vesting Agreement shall remain unchanged
and in full force and effect.

4. This Fifth Amendment may be executed in one or more counterparts and/or by facsimile, each
of which shall be deemed an original and all of which taken together shall constitute one
instrument.

5. This Fifth Amendment will be governed by and construed according to the laws of the State
of Colorado as such laws are applied to agreements entered into and to be performed entirely within
Colorado between Colorado residents.

6. Capitalized terms not defined herein shall have the meaning given to them in the Vesting
Agreement.

[Remainder of Page Intentionally Blank]

 

 

 

In Witness Whereof, the parties have executed this Fifth Amendment as of the date
first above written.

	 	 	 	 	 	 	 
	 	 	Communications Infrastructure Investments, LLC
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Scott Beer	 	 
	 

	 	 	 	 

Name: Scott Beer
	 	 
	 

	 	 	 	Title: General Counsel	 	 
	 
	 	 	 	 	 	 
	 	 	EXECUTIVE:
	 
	 
	 	/s/ Daniel P. Caruso
	 	 	 	 	 
	 	 	Daniel P. Caruso
	 
	 	 	 	 	 	 
	 	 	FOUNDER INVESTORS:
	 
	 	 	 	 	 	 
	 	 	Bear Investments, LLLP
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Daniel P. Caruso	 	 
	 

	 	 	 	 	 	 
	 	 	Daniel P. Caruso
	 	 	General Partner
	 
	 	 	 	 	 	 
	 	 	Bear Equity, LLC
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Daniel P. Caruso	 	 
	 

	 	 	 	 	 	 
	 	 	Daniel P. Caruso
	 	 	Manager
	 
	 
	 	/s/ Daniel P. Caruso
	 	 	 	 	 
	 	 	Daniel P Caruso, individually

Signature Page

Fourth Amendment to Vesting Agreement

 

 

 

Schedule A

Executive Common Units

	 	 	 	 	 
	 	 	Number of	 
	 	 	Executive	 
	Entity	 	Common Units	 
	Class A Common Units:
	 	 	 	 
	Issued as of December 31, 2007:
	 	 	 	 
	Bear Investments, LLLP
	 	 	7,470,834	 
	Daniel P. Caruso
	 	 	2,490,277	 
	 
	 	 	 	 
	Issued as of March 21, 2008:
	 	 	 	 
	Bear Investments, LLLP
	 	 	2,805,555	 
	Daniel P. Caruso
	 	 	2,805,556	 
	 
	 	 	 
	Total Class A Common Units
	 	 	15,572,222	 
	 
	 	 	 	 
	Class B Common Units:
	 	 	 	 
	Issued as of October 20, 2009:
	 	 	 	 
	Bear Investments, LLLP
	 	 	0	 
	Daniel P. Caruso
	 	 	2,300,000	 
	 
	 	 	 	 
	Issued as of March 19, 2010:
	 	 	 	 
	Bear Investments, LLLP
	 	 	1,300,000	 
	Daniel P. Caruso
	 	 	0	 
	 
	 	 	 
	Total Class B Common Units
	 	 	3,600,000	 
	 
	 	 	 	 
	Class D Common Units:
	 	 	 	 
	Issued as of January 24, 2011:
	 	 	 	 
	Bear Investments, LLLP
	 	 	8,096,118	 
	Daniel P. Caruso
	 	 	0	 
	 
	 	 	 
	 
	 	 	 	 
	Total Class D Common Units
	 	 	8,096,118	 
	 
	 	 	 	 
	Class E Common Units:
	 	 	 	 
	Issued as of June 1, 2011:
	 	 	 	 
	Bear Investments, LLLP
	 	 	2,007,425	 
	Daniel P. Caruso
	 	 	0	 
	 
	 	 	 	 
	Total Class E Common Units
	 	 	2,007,425	 
	 
	 	 	 
	 
	 	 	 	 
	Total Executive Common Units
	 	 	29,275,765exv4w1

Exhibit 4.1

EXECUTION COPY

 

 

NORDSON CORPORATION

 

NOTE PURCHASE AND PRIVATE SHELF AGREEMENT

FOR

$150,000,000

PRIVATE SHELF FACILITY

Dated as of June 30, 2011

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	1. AUTHORIZATION OF ISSUE OF SHELF NOTES
	 	 	1	 
	 
	 	 	 	 
	2. PURCHASE AND SALE OF NOTES
	 	 	1	 
	2A. Facility
	 	 	1	 
	2B. Issuance Period
	 	 	2	 
	2C. Request for Purchase
	 	 	2	 
	2D. Rate Quotes
	 	 	3	 
	2E. Acceptance
	 	 	3	 
	2F. Market Disruption
	 	 	3	 
	2G. Facility Closings
	 	 	4	 
	2H. Fees
	 	 	4	 
	 
	 	 	 	 
	3. CONDITIONS OF CLOSING
	 	 	5	 
	3A. Certain Documents
	 	 	5	 
	3B. Opinion of NYLIM’s Special Counsel
	 	 	7	 
	3C. Opinion of Company’s Counsel
	 	 	7	 
	3D. Representations and Warranties; No Default; Satisfaction of Conditions
	 	 	7	 
	3E. Purchase Permitted by Applicable Laws
	 	 	8	 
	3F. Compliance Certificates
	 	 	8	 
	3G. Payment of Fees
	 	 	8	 
	3H. Fees and Expenses
	 	 	8	 
	3I. Proceedings
	 	 	8	 
	 
	 	 	 	 
	4. PREPAYMENTS
	 	 	8	 
	4A. Scheduled Required Prepayments of Shelf Notes
	 	 	9	 
	4B. Optional Prepayment With Yield-Maintenance Amount
	 	 	9	 
	4C. Notice of Optional Prepayment
	 	 	9	 
	4D. Application of Prepayments
	 	 	9	 
	4E. No Acquisition of Notes
	 	 	9	 
	 
	 	 	 	 
	5. AFFIRMATIVE COVENANTS
	 	 	9	 
	5A. Money Obligations
	 	 	10	 
	5B. Financial Statements
	 	 	10	 
	5C. Information Required by Rule 144A
	 	 	11	 
	5D. Financial Records
	 	 	11	 
	5E. Franchises
	 	 	11	 
	5F. ERISA Compliance
	 	 	11	 
	5G. Notice
	 	 	11	 
	5H. Environmental Compliance
	 	 	11	 
	5I. Pari Passu Ranking
	 	 	12	 

-i-

 

TABLE
OF CONTENTS
(continued)

	 	 	 	 	 
	 	 	Page	 
	6. NEGATIVE COVENANTS
	 	 	12	 
	6A. Financial Covenants
	 	 	12	 
	6B. Indebtedness
	 	 	12	 
	6C. Liens
	 	 	13	 
	6D. Merger and Sale of Assets
	 	 	14	 
	6E. Acquisitions
	 	 	15	 
	6F. Affiliate Transactions
	 	 	15	 
	6G. Restricted Payments
	 	 	15	 
	6H. Restrictive Agreements
	 	 	15	 
	6I. Guaranties of Payment; Guaranty Under Material Indebtedness
Agreement
	 	 	16	 
	6J. Terrorism Sanctions Regulations
	 	 	16	 
	6K. Most Favored Lender
	 	 	16	 
	 
	 	 	 	 
	7. EVENTS OF DEFAULT
	 	 	17	 
	7A. Acceleration
	 	 	17	 
	7B. Rescission of Acceleration
	 	 	20	 
	7C. Notice of Acceleration or Rescission
	 	 	20	 
	7D. Other Remedies
	 	 	20	 
	 
	 	 	 	 
	8. REPRESENTATIONS, COVENANTS AND WARRANTIES
	 	 	20	 
	8A(1). Organization; Subsidiary Preferred Equity
	 	 	20	 
	8A(2). Power and Authority
	 	 	21	 
	8B. Financial Statements
	 	 	21	 
	8C. Actions Pending
	 	 	21	 
	8D. Outstanding Indebtedness
	 	 	22	 
	8E. Title to Properties
	 	 	22	 
	8F. Taxes
	 	 	22	 
	8G. Conflicting Agreements and Other Matters
	 	 	22	 
	8H. Offering of Notes
	 	 	23	 
	8I. Use of Proceeds
	 	 	23	 
	8J. ERISA
	 	 	23	 
	8K. Governmental Consent
	 	 	24	 
	8L. Compliance with Environmental and Other Laws
	 	 	24	 
	8M. Regulatory Status
	 	 	24	 
	8N. Permits and Other Operating Rights
	 	 	24	 
	8O. Rule 144A
	 	 	25	 
	8P.
Absence of Financing Statements, etc.
	 	 	25	 
	8Q.
Foreign Assets Control Regulations, Etc.
	 	 	25	 
	8R. Disclosure
	 	 	25	 
	8S. Hostile Tender Offers
	 	 	26	 

-ii-

 

TABLE
OF CONTENTS
(continued)

	 	 	 	 	 
	 	 	Page	 
	9. REPRESENTATIONS OF EACH PURCHASER
	 	 	26	 
	9A. Nature of Purchase
	 	 	26	 
	9B. Source of Funds
	 	 	26	 
	 
	 	 	 	 
	10. DEFINITIONS; ACCOUNTING MATTERS
	 	 	27	 
	10A. Yield-Maintenance Terms
	 	 	28	 
	10B. Other Terms
	 	 	29	 
	10C. Accounting and Legal Principles, Terms and Determinations
	 	 	41	 
	 
	 	 	 	 
	11. MISCELLANEOUS
	 	 	41	 
	11A. Note Payments
	 	 	41	 
	11B. Expenses
	 	 	41	 
	11C. Consent to Amendments
	 	 	42	 
	11D. Form, Registration, Transfer and Exchange of Notes; Lost Notes
	 	 	43	 
	11E. Persons Deemed Owners; Participations
	 	 	44	 
	11F. Survival of Representations and Warranties; Entire Agreement
	 	 	44	 
	11G. Successors and Assigns
	 	 	44	 
	11H. Independence of Covenants
	 	 	44	 
	11I. Notices
	 	 	45	 
	11J. Payments Due on Non-Business Days
	 	 	45	 
	11K. Satisfaction Requirement
	 	 	45	 
	11L. GOVERNING LAW
	 	 	45	 
	11M. SUBMISSION TO JURISDICTION; WAIVER OF JURY TRIAL
	 	 	46	 
	11N. Severability
	 	 	46	 
	11O. Descriptive Headings; Advice of Counsel; Interpretation; Time of
the Essence
	 	 	46	 
	11P. Counterparts; Facsimile or Electronic Signatures
	 	 	47	 
	11Q. Severalty of Obligations
	 	 	47	 
	11R. Independent Investigation
	 	 	47	 
	11S. Transaction References
	 	 	47	 
	11T. Directly or Indirectly
	 	 	47	 
	11U. Binding Agreement
	 	 	47	 

-iii-

 

EXHIBITS AND SCHEDULES

PURCHASER SCHEDULE

INFORMATION SCHEDULE

	 	 	 	 	 

	EXHIBIT A

	 	—
	 	FORM OF SHELF NOTE
	EXHIBIT B

	 	—
	 	FORM OF DISBURSEMENT DIRECTION LETTER
	EXHIBIT C

	 	—
	 	FORM OF REQUEST FOR PURCHASE
	EXHIBIT D

	 	—
	 	FORM OF CONFIRMATION OF ACCEPTANCE
	EXHIBIT E-1

	 	—
	 	FORM OF OPINION OF COMPANY COUNSEL
	EXHIBIT F

	 	—
	 	FORM OF COMPLIANCE CERTIFICATE
	SCHEDULE 8G

	 	—
	 	AGREEMENTS RESTRICTING INDEBTEDNESS

-iv-

 

NORDSON CORPORATION

28601 Clemens Road

Westlake, Ohio 44145

As of June 30, 2011

New York Life Investment Management LLC

51 Madison Avenue

New York, New York 10010

Each NYLIM Affiliate (as hereinafter

  defined) which becomes bound by certain

  provisions of this Agreement as hereinafter

  provided

Ladies and Gentlemen:

          The undersigned, Nordson Corporation, an Ohio corporation (herein called the “Company”),
hereby agrees with you as set forth below. Reference is made to paragraph 10 hereof for
definitions of capitalized terms used herein and not otherwise defined herein.

     1. AUTHORIZATION OF ISSUE OF SHELF NOTES.

     The Company will authorize the issue of its senior promissory notes (the “Shelf Notes”) in the
aggregate principal amount of $150,000,000, to be dated the date of issue thereof, to mature, in
the case of each Shelf Note so issued, no more than 12 years after the date of original issuance
thereof, to have an average life, in the case of each Shelf Note so issued, of no more than 10
years after the date of original issuance thereof, to bear interest on the unpaid balance thereof
from the date thereof at the rate per annum, and to have such other particular terms, as shall be
set forth, in the case of each Shelf Note so issued, in the Confirmation of Acceptance with respect
to such Shelf Note delivered pursuant to paragraph 2E, and to be substantially in the form of
Exhibit A attached hereto. The terms “Shelf
Note” and “Shelf Notes” as used herein shall include
each Shelf Note delivered pursuant to any provision of this Agreement and each Shelf Note delivered
in substitution or exchange for any such Shelf Note pursuant to any such provision. The terms
“Note” and “Notes ”as used herein shall include any and all Shelf Notes. Notes which have (i) the
same final maturity, (ii) the same principal prepayment dates, (iii) the same principal prepayment
amounts (as a percentage of the original principal amount of each Note), (iv) the same interest
rate, (v) the same interest payment periods and (vi) the same date of issuance (which, in the case
of a Note issued in exchange for another Note, shall be deemed for these purposes the date on which
such Note’s ultimate predecessor Note was issued), are herein called a “Series” of Notes.

     2. PURCHASE AND SALE OF NOTES.

     2A. Facility. NYLIM is willing to consider, in its sole discretion and within limits which
may be authorized for purchase by NYLIM Affiliates from time to time, the purchase of Shelf Notes
pursuant to this Agreement. The willingness of NYLIM to consider such purchase of

 

 

Shelf Notes is
herein called the “Facility”. At any time, the aggregate principal amount of Shelf Notes stated in
paragraph A, minus the aggregate principal amount of Shelf Notes purchased and sold pursuant to
this Agreement prior to such time, minus the aggregate principal amount of Accepted Notes (as
hereinafter defined) which have not yet been purchased and sold hereunder prior to such time, is
herein called the “Available Facility Amount” at such time. NOTWITHSTANDING THE WILLINGNESS OF
NYLIM TO CONSIDER PURCHASES OF SHELF NOTES BY NYLIM AFFILIATES, THIS AGREEMENT IS ENTERED INTO ON
THE EXPRESS UNDERSTANDING THAT NEITHER NYLIM NOR ANY NYLIM AFFILIATE SHALL BE OBLIGATED TO MAKE OR
ACCEPT OFFERS TO PURCHASE SHELF NOTES, OR TO QUOTE RATES, SPREADS OR OTHER TERMS WITH RESPECT TO
SPECIFIC PURCHASES OF SHELF NOTES, AND THE FACILITY SHALL IN NO WAY BE CONSTRUED AS A COMMITMENT BY
NYLIM OR ANY NYLIM AFFILIATE.

     2B. Issuance Period. Shelf Notes may be issued and sold pursuant to this Agreement until the
earlier of (i) the third anniversary of the date of this Agreement (or if the date of such
anniversary is not a Business Day, the Business Day next preceding such anniversary), (ii) the
30th day after NYLIM shall have given to the Company, or the Company shall have given to
NYLIM, a written notice stating that it elects to terminate the issuance and sale of Shelf Notes
pursuant to this Agreement (or if such 30th day is not a Business Day, the Business Day
next preceding such 30th day), (iii) the last Closing Day after which there is no
Available Facility Amount, (iv) the termination of the Facility under paragraph 7A of this
Agreement, and (v) the acceleration of any Note under paragraph 7A of this Agreement. The period
during which Shelf Notes may be issued and sold pursuant to this Agreement is herein called the
“Issuance Period”.

     2C. Request for Purchase. The Company may from time to time during the Issuance Period make
requests for purchases of Shelf Notes (each such request being herein called a “Request for
Purchase”). Each Request for Purchase shall be made to NYLIM by facsimile transmission or
overnight delivery service, and shall (i) specify the aggregate principal amount of Shelf Notes
covered thereby, which shall not be less than $10,000,000 and not be greater than the Available
Facility Amount at the time such Request for Purchase is made, (ii) specify the principal amounts,
final maturities (which shall be no more than 12 years from the date of issuance), average life
(which shall be no more than 10 years from the date of issuance), principal prepayment dates (if
any) and amounts and interest payment periods (quarterly or semi-annually in arrears) of the Shelf
Notes covered thereby, (iii) specify the use of proceeds of such Shelf Notes, (iv) specify the
proposed day for the closing of the purchase and sale of such Shelf Notes, which shall be a
Business Day during the Issuance Period not less than 10 days and not more than 25 days after the
making of such Request for Purchase, (v) specify the number of the account and the name and address
of the
depository institution to which the purchase prices of such Shelf Notes are to be transferred
on the Closing Day for such purchase and sale, (vi) certify that the representations and warranties
contained in paragraph 8 are true on and as of the date of such Request for Purchase and that there
exists on the date of such Request for Purchase no Event of Default or Default and (vii) be
substantially in the form of Exhibit C attached hereto. Each Request for Purchase shall be in
writing and shall be deemed made when received by NYLIM.

2

 

     2D. Rate Quotes. Not later than five Business Days after the Company shall have given NYLIM a
Request for Purchase pursuant to paragraph 2C, NYLIM may, but shall be under no obligation to,
provide to the Company by telephone or facsimile transmission, in each case between 9:30 A.M. and
1:30 P.M. New York City local time (or such later time as NYLIM may elect) interest rate quotes for
the several principal amounts, maturities, principal prepayment schedules and interest payment
periods of Shelf Notes specified in such Request for Purchase. Each quote shall represent the
interest rate per annum payable on the outstanding principal balance of such Shelf Notes at which a
NYLIM Affiliate or Affiliates would be willing to purchase such Shelf Notes at 100% of the
principal amount thereof.

     2E. Acceptance. Within the Acceptance Window with respect to any interest rate quotes
provided pursuant to paragraph 2F, the Company may, subject to paragraph 2B(6), elect to accept
such interest rate quotes as to not less than $10,000,000 aggregate principal amount of the Shelf
Notes specified in the related Request for Purchase. Such election shall be made by an Authorized
Officer of the Company notifying NYLIM by telephone or facsimile transmission within the Acceptance
Window that the Company elects to accept such interest rate quotes, specifying the Shelf Notes
(each such Shelf Note being herein called an “Accepted Note”) as to which such acceptance (herein
called an “Acceptance”) relates. The day the Company notifies NYLIM of an Acceptance with respect
to any Accepted Notes is herein called the “Acceptance Day” for such Accepted Notes. Any interest
rate quotes as to which NYLIM does not receive an Acceptance within the Acceptance Window shall
expire, and no purchase or sale of Shelf Notes hereunder shall be made based on such expired
interest rate quotes. Subject to paragraph 2F and the other terms and conditions hereof, the
Company agrees to sell to a NYLIM Affiliate or Affiliates, and NYLIM agrees to cause the purchase
by a NYLIM Affiliate or Affiliates of, the Accepted Notes at 100% of the principal amount of such
Notes. As soon as practicable following the Acceptance Day, the Company and each NYLIM Affiliate
which is to purchase any such Accepted Notes will execute a confirmation of such Acceptance
substantially in the form of Exhibit D attached hereto (herein called a “Confirmation of
Acceptance”). If the Company should fail to execute and return to NYLIM within three Business Days
following the Company’s receipt thereof a Confirmation of Acceptance with respect to any Accepted
Notes, NYLIM or any NYLIM Affiliate may at its election at any time prior to NYLIM’s receipt
thereof cancel the closing with respect to such Accepted Notes by so notifying the Company in
writing.

     2F. Market Disruption. Notwithstanding the provisions of paragraph 2E, if NYLIM shall have
provided interest rate quotes pursuant to paragraph 2D and thereafter prior to the time an
Acceptance with respect to such quotes shall have been notified to NYLIM in accordance with
paragraph 2E the domestic market for U.S. Treasury securities or other financial instruments shall
have closed or there shall
have occurred a general suspension, material limitation, or significant disruption of trading
in securities generally on the New York Stock Exchange or in the domestic market for U.S. Treasury
securities or other financial instruments, then such interest rate quotes shall expire, and no
purchase or sale of Shelf Notes hereunder shall be made based on such expired interest rate quotes.
If the Company thereafter notifies NYLIM of the Acceptance of any such interest rate quotes, such
Acceptance shall be ineffective for all purposes of this Agreement, and NYLIM shall promptly notify
the Company that the provisions of this paragraph 2F are applicable with respect to such
Acceptance.

3

 

     2G. Facility Closings. Not later than 11:30 A.M. (New York City local time) on the Closing
Day for any Accepted Notes, the Company will deliver to each Purchaser listed in the Confirmation
of Acceptance relating thereto at the offices of NYLIM, 51 Madison Avenue, New York, NY 10010,
Attention: Office of the General Counsel, or at such other place as NYLIM may have directed, the
Accepted Notes to be purchased by such Purchaser in the form of one or more Notes in authorized
denominations as such Purchaser may request for each Series of Accepted Notes to be purchased on
the Closing Day, dated the Closing Day and registered in such Purchaser’s name (or in the name of
its nominee), against payment of the purchase price thereof by transfer of immediately available
funds for credit to the Company’s account specified in the Request for Purchase of such Notes. If
the Company fails to tender to any Purchaser the Accepted Notes to be purchased by such Purchaser
on the scheduled Closing Day for such Accepted Notes as provided above in this paragraph 2G, or any
of the conditions specified in paragraph 3 shall not have been fulfilled by the time required on
such scheduled Closing Day, the Company shall, prior to 1:00 P.M., New York City local time, on
such scheduled Closing Day notify NYLIM (which notification shall be deemed received by each
Purchaser) in writing whether (i) such closing is to be rescheduled (such rescheduled date to be a
Business Day during the Issuance Period not less than one Business Day and not more than 10
Business Days after such scheduled Closing Day (the “Rescheduled Closing Day”)) and certify to
NYLIM (which certification shall be for the benefit of each Purchaser) that the Company reasonably
believes that it will be able to comply with the conditions set forth in paragraph 3 on such
Rescheduled Closing Day and that the Company will pay the Delayed Delivery Fee in accordance with
paragraph 2H(2) or (ii) such closing is to be canceled. In the event that the Company shall fail
to give such notice referred to in the preceding sentence, NYLIM (on behalf of each Purchaser) may
at its election, at any time after 1:00 P.M., New York City local time, on such scheduled Closing
Day, notify the Company in writing that such closing is to be canceled. Notwithstanding anything
to the contrary appearing in this Agreement, the Company may not elect to reschedule a closing with
respect to any given Accepted Notes on more than one occasion, unless NYLIM shall have otherwise
consented in writing.

     2H. Fees.

     2H(1). Issuance Fee. The Company will pay to each Purchaser in immediately available funds a
fee (herein called the “Issuance Fee”) on each Closing Day in an amount equal to 0.05% of the
aggregate principal amount of Shelf Notes sold to such Purchaser on such Closing Day which shall be
the only fee payable by the Company in respect of the issuance of the Shelf Notes.

     2H(2). Delayed Delivery Fee. If the closing of the purchase and sale of any Accepted Note is
delayed by the Company for any reason beyond the original Closing Day for such Accepted Note, the
Company will pay to the Purchaser which shall have agreed to purchase such Accepted Note (a) on the
Cancellation Date or actual closing date of such purchase and sale and (b) if earlier, the next
Business Day following 90 days after the Acceptance Day for such Accepted Note and on each Business
Day following 90 days after the prior payment hereunder, a fee (herein called the “Delayed Delivery
Fee”) calculated as follows:

(BEY — MMY) X DTS/360 X PA

4

 

where “BEY” means Bond Equivalent Yield, i.e., the bond equivalent yield per annum of such Accepted
Note; “MMY” means Money Market Yield, i.e., the yield per annum on a commercial paper investment of
the highest quality selected by NYLIM and having a maturity date or dates the same as, or closest
to, the Rescheduled Closing Day or Rescheduled Closing Days for such Accepted Note (a new
alternative investment being selected by NYLIM each time such closing is delayed); “DTS” means Days
to Settlement, i.e., the number of actual days elapsed from and including the original Closing Day
for such Accepted Note (in the case of the first such payment with respect to such Accepted Note)
or from and including the date of the next preceding payment (in the case of any subsequent Delayed
Delivery Fee payment with respect to such Accepted Note) to but excluding the date of such payment;
and “PA” means Principal Amount, i.e., the principal amount of the Accepted Note for which such
calculation is being made. In no case shall the Delayed Delivery Fee be less than zero. Nothing
contained herein shall obligate any Purchaser to purchase any Accepted Note on any day other than
the Closing Day for such Accepted Note, as the same may be rescheduled from time to time in
compliance with paragraph 2G.

     2H(3). Cancellation Fee. If the Company at any time notifies NYLIM in writing that the
Company is canceling the closing of the purchase and sale of any Accepted Note, or if NYLIM
notifies the Company in writing under the circumstances set forth in the last sentence of paragraph
2E or the penultimate sentence of paragraph 2G that the closing of the purchase and sale of such
Accepted Note is to be canceled, or if the closing of the purchase and sale of such Accepted Note
is not consummated on or prior to the last day of the Issuance Period (the date of any such
notification or the last day of the Issuance Period, as the case may be, being herein called the
“Cancellation Date”), the Company will pay to the Purchaser which shall have agreed to purchase
such Accepted Note in immediately available funds an amount (the “Cancellation Fee”) calculated as
follows:

PI X PA

where “PI” means Price Increase, i.e., the quotient (expressed in decimals) obtained by dividing
(a) the excess of the ask price (as determined by the applicable page/screen of Bloomberg’s market
data (“Bloomberg”)) of the Hedge Treasury Note(s) on the Cancellation Date over the bid price (as
determined by Bloomberg) of the Hedge Treasury Notes(s) on the Acceptance Day for such Accepted
Note by (b) such bid price; and “PA” has the meaning ascribed to it in paragraph 2H(2). The
foregoing bid and ask prices shall be as reported by Bloomberg (or, if such data for any reason
ceases to be available through Bloomberg, any publicly available source of similar market data).
Each price shall be based on a U.S. Treasury security having a par value of
$100,000,000 and shall be rounded to the second decimal place. In no case shall the Cancellation
Fee be less than zero.

     3. CONDITIONS OF CLOSING. Each Purchaser’s obligation to purchase and pay for the Notes to be
purchased by such Purchaser hereunder on any Closing Day is subject to the satisfaction, on or
before such Closing Day, of the following conditions:

     3A. Certain Documents. Such Purchaser shall have received original counterparts or, if
satisfactory to such Purchaser, certified or other copies of all of the following, each duly
executed and delivered by the party or parties thereto, in form and substance satisfactory to such

5

 

Purchaser dated the date of the applicable Closing Day unless otherwise indicated, and, on the
applicable Closing Day, in full force and effect with no event having occurred and being then
continuing that would constitute a default thereunder or constitute or provide the basis for the
termination thereof:

     (i) The Note(s) to be purchased by such Purchaser on such Closing Day in the form of
Exhibit A hereto:

     (ii) a Guaranty Agreement in form and substance substantially similar to the form of
guarantee, if any, given by any Subsidiary to the lenders under the Primary Credit Facility
and otherwise completed in a manner reasonably satisfactory to such Purchaser (herein,
together with any other Guarantee Agreement, as the same may be amended, supplemented,
restated or otherwise modified from time to time, collectively called the “Guaranty
Agreements” and individually called a “Guaranty Agreement”) made by each Subsidiary which is
a Guarantor with respect to Indebtedness outstanding under the Primary Credit Facility, and
which Subsidiary is not, as of such Closing Day, a party to a Guaranty Agreement, if any,
and a Confirmation of Guaranty Agreement in form satisfactory to such Purchaser (herein, as
the same may be amended, supplemented, restated or otherwise modified from time to time,
collectively called the “Confirmations of Guaranty Agreement” and individually called a
“Confirmation of Guaranty Agreement”) made by each other Person which is, as of such Closing
Day, a Guarantor of Payment, if any;

     (iii) a Secretary’s Certificate signed by the Secretary or Assistant Secretary and one
other officer of the Company and each Guarantor of Payment, if any, certifying, among other
things (a) as to the name, titles and true signatures of the officers of the Company or such
Guarantor of Payment authorized to sign this Agreement, the Notes being delivered on such
Closing Day, any Guaranty Agreements or Confirmations of Guaranty Agreement, as applicable,
being delivered on such Closing Day and the other documents to be delivered in connection
with this Agreement, (b) that attached thereto is a true, accurate and complete copy of the
certificate of incorporation or other formation document of the Company or such Guarantor of
Payment, as applicable, certified by the Secretary of State of the state of organization of
the Company or such Guarantor of Payment, as applicable, as of a recent date, (c) that
attached thereto is a true, accurate and complete copy of the by-laws, operating agreement
or other organizational document of the Company or such Guarantor of Payment, as applicable,
which were duly adopted and
are in effect as of such Closing Day and have been in effect immediately prior to and
at all times since the adoption of the resolutions referred to in clause (d) below, (d) that
attached thereto is a true, accurate and complete copy of the resolutions of the board of
directors or other managing body of the Company or such Guarantor of Payment, as applicable,
duly adopted at a meeting or by unanimous written consent of such board of directors or
other managing body, authorizing the execution, delivery and performance of this Agreement,
the Notes being delivered on such Closing Day, any Guaranty Agreements or Confirmations of
Guaranty Agreement being delivered on such Closing Day, as applicable, and the other
documents to be delivered in connection with this Agreement, and that such resolutions have
not been amended, modified, revoked or rescinded, and are in full force and effect and are
the only resolutions of the shareholders,

6

 

partners or members of the Company or such
Guarantor of Payment or of such board of directors or other managing body or any committee
thereof relating to the subject matter thereof, (e) that this Agreement, the Notes being
delivered on such Closing Day, any Guaranty Agreements or Confirmations of Guaranty
Agreement, as applicable, and the other documents executed and delivered to such Purchaser
by the Company or such Guarantor of Payment are in the form approved by its board of
directors or other managing body in the resolutions referred to in clause (d), above, and
(f) that no dissolution or liquidation proceedings as to the Company or any Subsidiary have
been commenced or are contemplated; provided, however, that if none of the matters certified
to in the certificate delivered by the Company or any Guarantor of Payment under this clause
(iii) on any prior Closing Day have changed and the resolutions referred to in sub-clause
(d) of this clause (iii) authorize the execution and delivery of the Notes, any Guaranty
Agreement and any Confirmation of Guaranty Agreement, as applicable, being delivered on such
subsequent Closing Day, then the Company or such Guarantor of Payment may, in lieu of the
certificate described above, deliver a Secretary’s Certificate signed by its Secretary or
Assistant Secretary certifying that there have been no changes to the matters certified to
in the certificate delivered by the Company or such Guarantor of Payment delivered on such
prior Closing Day under this clause (iii);

     (iv) a certificate of corporate or other type of entity and tax good standing for the
Company from the Secretary of State of the state of organization of the Company;

     (v) such other certificates, documents and agreements as such Purchaser may reasonably
request.

     3B. Opinion of NYLIM’s Special Counsel. Such Purchaser shall have received from King &
Spalding LLP, or such other counsel who is acting as special counsel for such Purchaser in
connection with this transaction, a favorable opinion satisfactory to such Purchaser as to such
matters incident to the matters herein contemplated as it may reasonably request.

     3C. Opinion of Company’s Counsel. Such Purchaser shall have received from Taft Stettinius &
Hollister LLP, special counsel for the Company (or such other counsel designated by the Company and
acceptable to such Purchaser), a favorable opinion satisfactory to such Purchaser, dated such
Closing Day, and substantially in the form of Exhibit E attached hereto and as to such other
matters as such
Purchaser may reasonably request. The Company, by its execution hereof, hereby requests and
authorizes such special counsel to render such opinions and to allow such Purchaser to rely on such
opinions, agrees that the issuance and sale of any Notes will constitute a reconfirmation of such
request and authorization, and understands and agrees that each Purchaser receiving such an opinion
will and is hereby authorized to rely on such opinion.

     3D. Representations and Warranties; No Default; Satisfaction of Conditions. The
representations and warranties contained in paragraph 8 shall be true on and as of such Closing
Day, both before and immediately after giving effect to the issuance of the Notes to be issued on
such Closing Day and to the consummation of any other transactions contemplated hereby; there shall
exist on such Closing Day no Event of Default or Default, both before and immediately after giving
effect to the issuance of the Notes to be issued on such Closing Day and to the

7

 

consummation of any
other transactions contemplated hereby; the Company shall have performed all agreements and
satisfied all conditions required under this Agreement to be performed or satisfied on or before
such Closing Day; and the Company shall have delivered to such Purchaser an Officer’s Certificate,
dated such Closing Day, to each such effect.

     3E. Purchase Permitted by Applicable Laws. The purchase of and payment for the Notes to be
purchased by such Purchaser on such Closing Day on the terms and conditions herein provided
(including the use of the proceeds of such Notes by the Company) shall not violate any applicable
law or governmental regulation (including, without limitation, Section 5 of the Securities Act or
Regulation T, U or X of the Board of Governors of the Federal Reserve System) and shall not subject
such Purchaser to any tax, penalty, liability or other onerous condition under or pursuant to any
applicable law or governmental regulation, and such Purchaser shall have received such certificates
or other evidence as it may request to establish compliance with this condition. All necessary
authorizations, consents, approvals, exceptions or other actions by or notices to or filings with
any court or administrative or governmental body or other Person required in connection with the
execution, delivery and performance of this Agreement and the Notes to be issued on such Closing
Day or the consummation of the transactions contemplated hereby or thereby shall have been issued
or made, shall be final and in full force and effect and shall be in form and substance
satisfactory to such Purchaser.

     3F. Compliance Certificates. The Company shall have delivered to such Purchaser such
certificates, in form and substance satisfactory to such Purchaser, demonstrating that the issuance
of the Notes on such Closing Day is in compliance with the provisions of the Primary Credit
Facility and any other Material Indebtedness Agreement as such Purchaser shall request, showing
computations in reasonable detail.

     3G. Payment of Fees. The Company shall have paid to such Purchaser in immediately available
funds any fees due it pursuant to or in connection with this Agreement, including any Issuance Fee
due pursuant to paragraph 2H(1) and any Delayed Delivery Fee due pursuant to paragraph 2H(2).

     3H. Fees and Expenses. Without limiting the provisions of paragraph 11B hereof, the Company
shall have paid the reasonable fees (not to exceed twenty-five thousand dollars ($25,000)), charges
and disbursements of any special counsel to the Purchasers in connection with this Agreement or the
transactions contemplated hereby.

     3I. Proceedings. All corporate and other proceedings taken or to be taken in connection with
the transactions contemplated hereby and all documents incident thereto shall be satisfactory in
substance and form to such Purchaser, and such Purchaser shall have received all such counterpart
originals or certified or other copies of such documents as it may reasonably request.

     4. PREPAYMENTS. Any Shelf Notes shall be subject to prepayment only with respect to the
required prepayments specified in paragraph 4(A), if any, the optional prepayments permitted by
paragraph 4B, and upon acceleration pursuant to paragraph 7A.

8

 

     4A. Scheduled Required Prepayments of Shelf Notes. Each Series of Shelf Notes shall be
subject to required prepayments, if any, set forth in the Notes of such Series.

     4B. Optional Prepayment With Yield-Maintenance Amount. The Notes of each Series shall be
subject to prepayment, in whole at any time or from time to time in part (in integral multiples of
$1,000,000 and in a minimum amount of $5,000,000 on any one occurrence), at the option of the
Company, at 100% of the principal amount so prepaid plus interest thereon to the prepayment date
and the Yield-Maintenance Amount, if any, with respect to each such Note. Any partial prepayment
of a Series of Notes pursuant to this paragraph 4B shall be applied in satisfaction of required
payments of principal thereof (including the required payment of principal due upon the maturity
thereof) as selected by the Company.

     4C. Notice of Optional Prepayment. The Company shall give the holder of each Note of a Series
to be prepaid pursuant to paragraph 4B irrevocable written notice of such prepayment not less than
10 Business Days prior to the prepayment date (which shall be a Business Day), specifying such
prepayment date and the aggregate principal amount of the Notes of such Series, and the Notes of
such Series held by such holder, to be prepaid on such date, and stating that such prepayment is to
be made pursuant to paragraph 4B. Notice of prepayment having been given as aforesaid, the
principal amount of the Notes specified in such notice, together with interest thereon to the
prepayment date and together with the Yield-Maintenance Amount, if any, with respect thereto, shall
become due and payable on such prepayment date. The Company shall, on or before the day on which
it gives written notice of any prepayment pursuant to paragraph 4B, give telephonic notice of the
principal amount of the Notes to be prepaid and the prepayment date to each Significant Holder
which shall have designated a recipient of such notices in the Purchaser Schedule attached hereto
or the applicable Confirmation of Acceptance or by notice in writing to the Company.

     4D. Application of Prepayments. In the case of each prepayment of less than the entire
outstanding principal amount of all Notes of any Series pursuant to paragraphs 4A or 4B, the
principal amount so prepaid shall be allocated pro rata to all Notes of such Series at the time
outstanding in proportion to the respective outstanding principal amounts thereof.

     4E. No Acquisition of Notes. The Company shall not, and shall not permit any of its
Subsidiaries or Affiliates to, prepay or otherwise retire in whole or in part prior to their stated
final maturity (other than by prepayment pursuant to paragraph 4A or 4B or upon acceleration of
such final maturity pursuant to paragraph 7A), or purchase or otherwise acquire, directly or
indirectly, Notes of any Series held by any holder unless the Company or such Subsidiary or
Affiliate shall have offered to prepay or otherwise retire or purchase or otherwise acquire, as the
case may be, the same proportion of the aggregate principal amount of Notes of such Series held by
each other holder of Notes of such Series at the time outstanding upon the same terms and
conditions. Any Notes so prepaid or otherwise retired or purchased or otherwise acquired by the
Company or any of its Subsidiaries or Affiliates shall not be deemed to be outstanding for any
purpose under this Agreement.

     5. AFFIRMATIVE COVENANTS. During the Issuance Period and so long thereafter as any Note is
outstanding and unpaid, the Company covenants as follows:

9

 

     5A. Money Obligations. The Company covenants that it will, and shall cause each of its
Subsidiaries to, pay in full (a) prior in each case to the date when penalties would attach, all
taxes, assessments and governmental charges and levies (except only those so long as and to the
extent that the same shall be contested in good faith by appropriate and timely proceedings and for
which adequate reserves have been established in accordance with GAAP) for which it may be or
become liable or to which any or all of its properties may be or become subject and the failure to
pay would have a Material Adverse Effect; (b) all of its wage obligations to any employees required
to be paid in compliance with the Fair Labor Standards Act (29 U.S.C. §§206-207) or any comparable
provisions and the failure to pay would have a Material Adverse Effect; and (c) all of its other
obligations calling for the payment of money (except only those so long as and to the extent that
the same shall be contested in good faith and for which adequate reserves have been established in
accordance with GAAP) before such payment becomes overdue and the failure to pay (i) would
constitute a Default or Event of Default hereunder or (ii) have a Material Adverse Effect.

     5B. Financial Statements. The Company covenants that it will deliver to each Significant
Holder in duplicate:

     (i) within forty-five (45) days after the end of each of the first three (3)
quarter-annual periods of each fiscal year of the Company, balance sheets of the Company as
of the end of such period and statements of income (loss), stockholders’ equity and cash
flow for the quarter and fiscal year to date periods, all prepared on a Consolidated basis,
in accordance with GAAP, and in form and detail satisfactory to the Required Holders and
certified by a Financial Officer of the Company; provided that
delivery of the Company’s quarterly report for any fiscal quarter of the Company on
Form 10-Q as filed with the SEC shall satisfy the requirements of this subpart (i);

     (ii) within ninety (90) days after the end of each fiscal year of the Company, (a) an
annual audit report of the Company for that year prepared on a Consolidated and
consolidating (but only as to the Company and its Subsidiaries) basis, in accordance with
GAAP, and in form and detail satisfactory to the Required Holders and certified by an
independent public accountant satisfactory to the Required Holders, which report shall
include balance sheets and statements of income (loss), stockholders’ equity and cash-flow
for that period, provided that delivery of the Company’s annual report for any fiscal year
of the Company on Form 10-K as filed with the SEC shall satisfy the requirements of this
subpart (ii)(a), and (b) a certificate by such accountant setting forth the Defaults and
Events of Default coming to its attention during the course of its audit or, if none, a
statement to that effect;

     (iii) concurrently with the delivery of the financial statements in (i) and (ii) above,
a Compliance Certificate; and

     (iv) as soon as available, copies of all notices, reports, definitive proxy statements
and other documents that are publicly available and sent by the Company to its shareholders,
to the holders of any of its debentures or bonds or the trustee of any indenture securing
the same or pursuant to which they are issued, or sent by the Company (in final form) to any
securities exchange or over the counter authority or system, or to

10

 

the SEC or any similar
federal agency having regulatory jurisdiction over the issuance of the Company’s securities.

     5C. Information Required by Rule 144A. The Company covenants that it will, upon the request
of the holder of any Note, provide such holder, and any qualified institutional buyer designated by
such holder, such financial and other information as such holder may reasonably determine to be
necessary in order to permit compliance with the information requirements of Rule 144A under the
Securities Act in connection with the resale of Notes, except at such times as the Company is
subject to and in compliance with the reporting requirements of section 13 or 15(d) of the Exchange
Act. For the purpose of this paragraph 5C, the term “qualified institutional buyer” shall have the
meaning specified in Rule 144A under the Securities Act.

     5D. Financial Records. The Company covenants that it will at all times maintain true and
complete records and books of account, including, without limiting the generality of the foregoing,
appropriate reserves for possible losses and liabilities, all in accordance with GAAP.

     5E. Franchises. The Company will and shall cause each of its Subsidiaries to preserve and
maintain at all times its existence, rights and franchises, except as otherwise permitted pursuant
to paragraph 6D hereof; provided that the Company shall not be required to preserve or maintain
such rights or franchises where the failure to do so will not have a Material Adverse Effect.

     5F. ERISA Compliance. None of the Company or its Subsidiaries shall incur any material
accumulated funding deficiency within the meaning of ERISA, or any material liability to the PBGC,
established thereunder in connection with any ERISA Plan. The Company shall promptly notify each
Significant Holder of any material taxes assessed, proposed to be assessed or that the Company has
reason to believe may be assessed against the Company or any of its Subsidiaries by the Internal
Revenue Service with respect to any ERISA Plan. As used in this Section “material” means the
measure of a matter of significance that shall be determined as being an amount equal to five
percent (5%) of the Consolidated Total Assets of the Company.

     5G. Notice. The Company covenants that it will promptly notify NYLIM and each Significant
Holder whenever, to the knowledge of a Financial Officer (a) any Default or Event of Default is
likely to occur hereunder, or (b) any default, or event with which the passage of time or the
giving of notice, or both, would cause a default, shall have occurred under any Material
Indebtedness Agreement.

     5H. Environmental Compliance. Except where the failure to do so would not have or result in a
Material Adverse Effect, the Company covenants that it will, and shall cause each Subsidiary to,
(i) comply in all respects with any and all Environmental Laws including, without limitation, all
Environmental Laws in jurisdictions in which the Company or any Subsidiary owns or operates a
facility or site, arranges for disposal or treatment of hazardous substances, solid waste or other
wastes, accepts for transport any hazardous substances, solid waste or other wastes or holds any
interest in real property or otherwise and (ii) not allow the release or disposal of hazardous
waste, solid waste or other wastes on, under or to any real property in which the Company or any of
its Subsidiaries holds any interest or performs any of its operations, in

11

 

violation of any
Environmental Law. The Company shall defend, indemnify and hold NYLIM and the holders of Notes
harmless against all costs, expenses, claims, damages, penalties and liabilities of every kind or
nature whatsoever (including attorneys’ fees) arising out of or resulting from the noncompliance of
the Company or any of its Subsidiaries with any Environmental Law. Such indemnification shall
survive any termination of this Agreement.

     5I. Pari Passu Ranking. The Company covenants that the obligations of the Company under this
Agreement and the Notes shall, and that it will, and will cause each Subsidiary to, take all
necessary action to ensure that the obligations of the Company under this Agreement and the Notes
shall, at all times rank at least pari passu in right of payment (to the fullest extent permitted
by law) with all other senior unsecured Indebtedness of the Company and its Subsidiaries.

     6. NEGATIVE COVENANTS. During the Issuance Period and so long thereafter as any Note or other
amount due hereunder is outstanding and unpaid, the Company covenants as follows:

     6A. Financial Covenants.

     6A(1). Leverage Ratio. The Company covenants that it shall not suffer or permit for the most
recently completed four (4) fiscal quarters of the Company, the Leverage Ratio to exceed 3.75 to
1.00.

     6A(2). Interest Coverage Ratio. The Company covenants that it shall not suffer or permit for
the most recently completed four (4) fiscal quarters of the Company, the Interest Coverage Ratio to
be less than 2.75 to 1.00.

     6B. Indebtedness. The Company covenants that it will not and shall not permit any of its
Subsidiaries to create, incur or have outstanding any obligation for borrowed money or any
Indebtedness of any kind; provided, that this paragraph 6B shall not apply to:

     (i) the Notes;

     (ii) unsecured Indebtedness of the Company under the Primary Credit Facility;

     (iii) the unsecured Indebtedness of the Company under the 2008 Note Purchase Agreement
in an aggregate principal amount not to exceed Fifty Million Dollars ($50,000,000);

     (iv) the unsecured Indebtedness of the Company owing to The Bank of Tokyo-Mitsubishi
UFJ, Ltd. up to the Dollar Equivalent of One Billion Japanese Yen (¥1,000,000,000);

     (v) loans or capital leases to the Company or any of its Subsidiaries for the purchase
or lease of fixed assets, which loans or leases are secured by the assets being purchased or
leased, so long as the aggregate principal amount of all such loans and leases for the
Company and its Subsidiaries do not exceed the greater of (a) One Hundred

12

 

Million Dollars
($100,000,000) and (b) an amount equal to five percent (5%) of Consolidated Total Assets at
any time;

     (vi) Indebtedness owed by the Company or a Subsidiary (other than the Receivables
Subsidiary) to the Company or another Subsidiary (other than the Receivables Subsidiary);

     (vii) Indebtedness of the Receivables Subsidiary under the Permitted Receivables
Facility, so long as (a) the funded amount, together with any other Indebtedness thereunder,
does not exceed the greater of (1) Two Hundred Million Dollars ($200,000,000) and (2) an
amount equal to ten percent (10%) of Consolidated Total Assets at any time, and (b) the
Company provides a copy of the documents evidencing such transaction to each Significant
Holder; and

     (viii) additional Indebtedness of the Company or any Subsidiary, to the extent not
otherwise permitted pursuant to any of the foregoing clauses of this paragraph 6B, so
long as (a) the Company will be in pro forma compliance as of the applicable
measurement period with paragraph 6A hereof after giving effect to the incurrence of such
Indebtedness, (b) no Event of Default shall exist prior to or after giving effect to the
incurrence of any such Indebtedness and (c) after giving effect to the incurrence of such
Indebtedness by any Subsidiary, the amount of outstanding Priority Indebtedness does not
exceed an amount equal to fifteen percent (15%) of Consolidated Total Assets.

     6C. Liens. The Company covenants and warrants that it will not, and will not permit any
Subsidiary to create, assume or suffer to exist any Lien upon any of its property or assets,
whether now owned or hereafter acquired; provided that this paragraph 6C shall not apply to the
following:

     (i) Liens for taxes not yet due or that are being actively contested in good faith by
appropriate proceedings and for which adequate reserves have been established in accordance
with GAAP;

     (ii) other statutory Liens incidental to the conduct of its business or the ownership
of its property and assets that (a) were not incurred in connection with the borrowing of
money or the obtaining of advances or credit, and (b) do not in the aggregate materially
detract from the value of its property or assets or materially impair the use thereof in the
operation of its business;

     (iii) easements or other minor defects or irregularities in title of real property not
interfering in any material respect with the use of such property in the business of the
Company or any of its Subsidiaries;

     (iv) Liens securing the Notes;

     (v) Liens on fixed assets securing the loans or capital leases pursuant to paragraph
6B(v) hereof, provided that such Lien only attaches to the property being acquired or
leased;

13

 

     (vi) Liens on the Receivables Related Assets in connection with the Permitted
Receivables Facility securing the obligations under the Permitted Receivables Facility; and

     (vii) any other Liens, to the extent not otherwise permitted pursuant to subparts (i)
through (vi) hereof, so long as the aggregate amount of Priority Indebtedness does not
exceed at any time, for the Company and all Subsidiaries, an amount equal to fifteen percent
(15%) of Consolidated Total Assets; provided, however, that no Liens that secure any
obligations of the Company under the Primary Credit Facility or the 2008 Note Purchase
Agreement shall be permitted under this clause (vii).

     The Company shall not, and shall not permit any Subsidiary (other than the Receivables
Subsidiary) to, enter into any Material Indebtedness Agreement (other than any contract or
agreement entered into in connection with the Indebtedness permitted to be incurred pursuant to
paragraph 6B(ii), (iii), (iv), (v) or (viii) hereof) that would prohibit the holders of the Notes
from
acquiring a security interest, mortgage or other Lien on, or a collateral assignment of, any
of the property or assets of the Company or any of Subsidiaries.

     6D. Merger and Sale of Assets. The Company covenants that it will not, and will not permit any
Subsidiary to, merge or consolidate with any other Person, or sell, lease or transfer or otherwise
dispose of any assets to any Person other than in the ordinary course of business, except that, if
no Default or Event of Default shall then exist or immediately thereafter shall begin to exist:

     (i) any Subsidiary (other than the Receivables Subsidiary) may merge with (a) the
Company (provided that the Company shall be the continuing or surviving Person), or (b) any
other Subsidiary (other than the Receivables Subsidiary);

     (ii) the Company may sell, lease, transfer or otherwise dispose of any of its assets to
any Subsidiary (other than the Receivables Subsidiary) and any Subsidiary (other than the
Receivables Subsidiary) may sell, lease, transfer or otherwise dispose of any of its assets
to (a) the Company, or (b) any Subsidiary (other than the Receivables Subsidiary);

     (iii) in addition to any sale, lease, transfer or other disposition permitted pursuant
to subparts (i) and (ii) above, the Company and any Subsidiary may sell accounts receivables
and related rights to the Receivables Subsidiary in connection with the Permitted
Receivables Facility;

     (iv) any merger or consolidation that constitutes an Acquisition permitted pursuant to
paragraph 6E hereof; and

     (v) in addition to any sale, lease, transfer or other disposition permitted pursuant to
subparts (i) through (iv) above, the Company or any Subsidiary (other than the Receivables
Subsidiary) may sell, lease, transfer or otherwise dispose of any of its assets to any
Person so long as the aggregate amount of all such assets sold, leased, transferred or
otherwise disposed of by the Company and all of its Subsidiaries does not

14

 

exceed an amount
equal to eleven percent (11.0%) of Consolidated Total Assets during any two consecutive
fiscal years of the Company.

     6E. Acquisitions. The Company covenants that it will not, and will not permit any Subsidiary
to, effect an Acquisition, except that the Company or any Subsidiary (other than the Receivables
Subsidiary) may effect an Acquisition so long as (a) the Company shall be the surviving entity if
such Acquisition is a merger or consolidation with the Company and if such Acquisition is a merger
or consolidation with a Subsidiary, then the surviving entity shall be a Subsidiary on the
consummation thereof; (b) the Board of Directors (or equivalent governing body) of the Person
acquired shall have approved such Acquisition; and (c) no Default or Event of Default shall then
exist or immediately thereafter shall begin to exist.

     6F. Affiliate Transactions. The Company covenants that it will not, and will not permit any
Subsidiary to, directly or indirectly,
enter into or permit to exist any transaction (including, without limitation, the purchase,
sale, lease or exchange of any property or the rendering of any service) with any Affiliate of the
Company or its Subsidiaries on terms that are less favorable to the Company or such Subsidiary, as
the case may be, than those that might be obtained at the time in a transaction with a
non-Affiliate; provided, however, that the foregoing shall not prohibit (i) the payment of
customary and reasonable directors’ fees to directors who are not employees of the Company or its
Subsidiaries or any Affiliate thereof; or (ii) any transaction, including, but not limited to the
transactions contemplated pursuant to the Permitted Receivables Facility, between the Company and
an Affiliate that the Company reasonably determines in good faith is beneficial to the Company and
its Affiliates as a whole and that is not entered into for the purpose of hindering the exercise by
NYLIM or any holder of a Note of its rights or remedies under this Agreement or any other
Transaction Document.

     6G. Restricted Payments. The Company covenants that it will not make or commit itself to make
any Restricted Payment, provided, that: (a) if no Default or Event of Default shall then exist or
immediately thereafter shall begin to exist, the Company may make Capital Distributions to the
shareholders of the Company; and (b) if no Default or Event of Default shall then exist or
immediately thereafter shall begin to exist, the Company may make Share Repurchases.

     6H. Restrictive Agreements. Except as set forth in this Agreement, the Company covenants that
it will not, and will not permit any Subsidiary (excluding the Receivable Subsidiary) to, directly
or indirectly, create or otherwise cause or suffer to exist or become effective any encumbrance or
restriction on the ability of any Subsidiary (excluding the Receivables Subsidiary) to (i) make,
directly or indirectly, any Capital Distribution to the Company; (ii) make, directly or indirectly,
loans or advances or capital contributions to the Company; or (iii) transfer, directly or
indirectly, any of the properties or assets of such Subsidiary (excluding the Receivables
Subsidiary) to the Company, except for such encumbrances or restrictions existing under or by
reason of (1) applicable law, (2) customary non-assignment provisions in leases or other agreements
entered in the ordinary course of business and consistent with past practices, (3) customary
restrictions in security agreements or mortgages securing Indebtedness of the Company or its
Subsidiaries to the extent such restrictions only restrict the transfer of the property subject to
such security agreement or mortgage or (4) customary and reasonable restrictions in agreements
necessary to obtain loans

15

 

and credit facilities so long as such restrictions do not materially
encumber the ability of the Subsidiaries taken as a whole to make Capital Distributions.

     6I. Guaranties of Payment; Guaranty Under Material Indebtedness Agreement. The Company
covenants that it will not permit any Subsidiary to become a Guarantor in respect of any
Indebtedness under the Primary Credit Facility unless, prior to or concurrently therewith (i) the
Company shall have caused each such Subsidiary to execute and deliver to NYLIM and the holders of
the Notes a Guaranty Agreement, in form and substance substantially similar to form of guaranty
furnished under the Primary Credit Facility and otherwise completed in a manner satisfactory to
NYLIM, accompanied by a certificate of the Secretary or Assistant Secretary of such Subsidiary
certifying such Subsidiary’s charter and by-laws (or comparable governing documents), resolutions
of the board of directors (or comparable
governing body) of such Subsidiary authorizing the execution and delivery of such Guaranty
Agreement and incumbency and specimen signatures of the officers of such Subsidiary executing such
documents and (ii) if any holder of any Indebtedness under the Primary Credit Facility shall be or
become a party to an intercreditor agreement with any other holder of any Indebtedness under the
Primary Credit Facility, then the holders of the Notes and all holders of Indebtedness under the
Primary Credit Facility with respect to which any Subsidiary is a Guarantor shall have entered into
an intercreditor agreement in form and substance customary and appropriate for such agreement and
otherwise reasonably satisfactory to NYLIM.

     6J. Terrorism Sanctions Regulations. The Company covenants that it will not, and will not
permit any Subsidiary to, (i) become a Person described or designated in the Specially Designated
Nationals and Blocked Persons List of the Office of Foreign Assets Control or in Section 1 of the
Anti-Terrorism Order or (ii) be in violation of any law, regulation, or list of any government
agency (including, without limitation, the U.S. Office of Foreign Asset Control list, Executive
Order No. 13224 or the USA Patriot Act) that prohibits or limits the conduct of business with or
the receiving of funds, goods or services to or for the benefit of certain Persons specified
therein or that prohibits or limits any Purchaser from purchasing the Notes hereunder from the
Company or from otherwise conducting business with the Company or its Subsidiaries.

     6K. Most Favored Lender. The Company covenants that it will not amend any Restrictive
Covenant in the Primary Credit Facility or amend the Primary Credit Facility to add any additional
Restrictive Covenant(s) unless, prior to the effectiveness of such amendment, the Company has
notified NYLIM and the holders of the Notes of such amendment and, if requested by NYLIM or any
holder of a Note, caused to be executed and delivered, reasonably simultaneously with the
effectiveness of such amendment to the Primary Credit Facility at the Company’s expense (including
the reasonable fees and expenses of counsel for the holders of the Notes), an amendment to this
Agreement, in form and substance satisfactory to NYLIM and the Required Holder(s), to similarly
amend such Restrictive Covenant in this Agreement or to add such additional Restrictive Covenant(s)
to this Agreement, as the case may be; provided that if such amended or added Restrictive Covenant
is a leverage ratio or an interest coverage ratio, then such Restrictive Covenant in this Agreement
shall be at a less restrictive level than the corresponding covenant contained in the Primary
Credit Agreement by the same relative amount by which the leverage ratio or the interest coverage
ratio, as the case may be, is at a less restrictive level in this Agreement as compared to the
Primary Credit Facility as each was in effect on the date of this Agreement (but for such leverage
ratio or interest coverage ratio in no

16

 

event less restrictive by operation of this paragraph 6K
than the levels contained in this Agreement prior to any amendment to this Agreement). If, as a
result of this paragraph 6K, either (i) this Agreement is amended to change or add any Restrictive
Covenant(s) (the “MFL Provision") or (ii) (a) any Restrictive Covenant in the Primary Credit
Facility is amended to a less restrictive level (including eliminated) or (b) the Company and its
Subsidiaries are no longer bound by the amended or added covenant in the such Primary Credit
Facility that caused such MFL Provision to be amended or added to this Agreement, as the case may
be, and provided that (a) no Default or Event of Default then exists, and (b) if any Credit Related
Fee has been given to any party to such Primary Credit Facility to obtain such amendment to the
Primary Credit Facility, the holders of the Notes shall have received such Credit Related Fee in a
proportionate amount based upon the relative outstanding
principal amount of the Notes and of the Indebtedness outstanding under the Primary Credit
Facility, then this Agreement shall, without any further action on the part of the Company or any
holder of the Notes, be deemed to be amended automatically to amend or to delete such Restrictive
Covenant or MFL Provision(s), as the case may be with any amended and less restrictive Restrictive
Covenant or MFL Provision in this Agreement deemed to be amended such that the Restrictive Covenant
or amended MFL Provision in this Agreement will be less restrictive than the related provision in
the Primary Credit Facility in the same proportion as the respective MFL Provision in this
Agreement bore to the related provision in the Primary Credit Facility or as of the date of this
Agreement (provided that the provisions of this Agreement as to a leverage ratio or interest
coverage ratio shall not be so amended to be any less restrictive with respect to the Company and
its Subsidiaries than as in effect on the date of this Agreement). For purposes hereof, a “Credit
Related Fee” with respect to any amendment to the Primary Credit Facility shall mean any fee paid
in connection with such amendment in excess of 0.20% of the amount of the lending commitments of
the lenders under the Primary Credit Facility; provided that any amounts paid (1) for the
reimbursement of out-of-pocket expenses relating to preparing such amendment, (2) for an extension
in the ordinary course of the term of the Primary Credit Facility, or (3) to the extent paid to the
agent(s) for the lenders under the Primary Credit Facility in such agent’s capacity as such or for
out-of-pocket fees and expenses of the agent(s) on its behalf or on behalf of other lenders, shall
not be “Credit Related Fees”.

     7. EVENTS OF DEFAULT.

     7A. Acceleration. If any of the following events shall occur and be continuing for any reason
whatsoever (and whether such occurrence shall be voluntary or involuntary or come about or be
effected by operation of law or otherwise):

     (i) (a) the principal of any Note or any Yield-Maintenance Amount shall not be paid in
full punctually when due and payable or within three (3) Business Days thereafter, or (b)
the interest on any Note or any fee shall not be paid in full punctually when due and
payable or within five (5) Business Days thereafter; or

     (ii) the Company or any Subsidiary shall fail or omit to perform and observe paragraphs
6A, 6B, 6C, 6D, 6E, 6G, 6I or 6K; or

     (iii) the Company or any Subsidiary shall fail or omit to perform and observe any
agreement or other provision (other than those referred to in paragraphs 7A(i) or

17

 

7A(ii)
hereof) contained or referred to in this Agreement or any other Transaction Document that is
on the Company’s or such Subsidiary’s part, as the case may be, to be complied with, and
that Default shall not have been fully corrected within thirty (30) days after the giving of
written notice thereof to the Company by NYLIM or any holder of a Note that the specified
Default is to be remedied; or

     (iv) any representation, warranty or statement made by the Company or any Subsidiary in
or pursuant to this Agreement or any other Transaction Document, or any other material
information furnished by the Company or any Subsidiary to NYLIM or any holder of any Note,
shall be false or erroneous; or

     (v) the Company or any of its Subsidiaries shall default in the payment in an amount in
excess of Two Million Five Hundred Thousand Dollars ($2,500,000) of principal, interest or
fees due and owing upon any other obligation for borrowed money (other than the Notes), for
all such obligations for all of the Company and its Subsidiaries in aggregate equal to or
greater than the greater of (a) Fifty Million Dollars ($50,000,000) and (b) an amount equal
to three percent (3%) of Consolidated Total Assets beyond any period of grace provided with
respect thereto, or in the performance or observance of any other agreement, term or
condition contained in any agreement under which such obligation is created beyond any
period of grace provided with respect thereto, if the effect of such default is to allow the
acceleration of the maturity of such Indebtedness or to permit the holder thereof to cause
such Indebtedness to become due prior to its stated maturity; or

     (vi) the occurrence of one or more ERISA Events that (a) the Required Holders determine
could have a Material Adverse Effect, or (b) results in a Lien on any of the assets of the
Company or any Subsidiary in excess of the greater of (1) Fifty Million Dollars
($50,000,000) and (2) an amount equal to three percent (3%) of Consolidated Total Assets; or

     (vii) a Change of Control shall occur; or

     (viii) a final judgment or order for the payment of money shall be rendered against any
the Company or any Subsidiary by a court of competent jurisdiction, that remains unpaid or
unstayed and undischarged for a period (during which execution shall not be effectively
stayed) of thirty (30) days after the date on which the right to appeal has expired,
provided that the aggregate of all such judgments for the Company and its Subsidiaries shall
exceed the greater of (i) Fifty Million Dollars ($50,000,000) and (ii) an amount equal to
three percent (3%) of Consolidated Total Assets; or

     (ix) (a) any material provision, in the reasonable opinion of any holder of the Notes,
of this Agreement or any other Transaction Document shall at any time for any reason cease
to be valid and binding and enforceable against the Company or any Subsidiary; (b) the
validity, binding effect or enforceability of any material provision of this Agreement or
any other Transaction Document against the Company or any Subsidiary shall be contested by
such Company or any Subsidiary; (c) the Company or any Subsidiary shall deny that it has any
or further liability or obligation thereunder; or

18

 

(d) any material provision of this
Agreement or any other Transaction Document shall be terminated, invalidated or set aside,
or be declared ineffective or inoperative or in any way cease to give or provide to NYLIM
and the holder of a Note the benefits purported to be created thereby; or

     (x) the Company or any Subsidiary (other than any Subsidiary that individually, or in
the aggregate when combined with all other Subsidiaries excluded from this paragraph 7A(x)
by operation of this parenthetical, has assets less than or equal to the greater of (i)
Fifty Million Dollars ($50,000,000) and (ii) an amount equal to three percent (3%) of
Consolidated Total Assets) shall (a) except as permitted pursuant to paragraph 6D hereof,
discontinue business, (b) generally not pay its debts as such debts
become due, (c) make a general assignment for the benefit of creditors, (d) apply for
or consent to the appointment of a receiver, a custodian, a trustee, an interim trustee or
liquidator of all or a substantial part of its assets, (e) be adjudicated a debtor or have
entered against it an order for relief under Title 11 of the United States Code, as the same
may be amended from time to time, (f) file a voluntary petition in bankruptcy, or have an
involuntary proceeding filed against it and the same shall continue undismissed for a period
of thirty (30) days from commencement of such proceeding or case, or file a petition or an
answer seeking reorganization or an arrangement with creditors or seeking to take advantage
of any other law (whether federal or state (or the foreign equivalent)) relating to relief
of debtors, or admit (by answer, by default or otherwise) the material allegations of a
petition filed against it in any bankruptcy, reorganization, insolvency or other proceeding
(whether federal or state (or the foreign equivalent)) relating to relief of debtors, (g)
suffer or permit to continue unstayed and in effect for thirty (30) consecutive days any
judgment, decree or order entered by a court of competent jurisdiction, that approves a
petition seeking its reorganization or appoints a receiver, custodian, trustee, interim
trustee or liquidator of all or a substantial part of its assets, or (h) take, or omit to
take, any action in order thereby to effect any of the foregoing;

then (1) if such event is an Event of Default specified in clause (i) of this paragraph 7A, any
holder of any Note (other than the Company or any of its Subsidiaries or Affiliates) may at its
option, by notice in writing to the Company, declare all of the Notes held by such holder to be,
and all of the Notes held by such holder shall thereupon be and become, immediately due and payable
at par together with interest accrued thereon, without presentment, demand, protest or other notice
of any kind, all of which are hereby waived by the Company, (2) if such event is an Event of
Default specified in clause (x) of this paragraph 7A with respect to the Company, all of the Notes
at the time outstanding shall automatically become immediately due and payable together with
interest accrued thereon and together with the Yield-Maintenance Amount, if any, with respect to
each Note, without presentment, demand, protest or notice of any kind, all of which are hereby
waived by the Company, and the Facility shall automatically terminate, and (3) if such event is not
an Event of Default specified in clause (x) of this paragraph 7A with respect to the Company, the
Required Holder(s) may at its or their option, by notice in writing to the Company, declare all of
the Notes to be, and all of the Notes shall thereupon be and become, immediately due and payable
together with interest accrued thereon and together with the Yield-Maintenance Amount, if any, with
respect to each Note, without presentment, demand, protest or other notice of any kind, all of
which are hereby waived by the Company, and NYLIM may at its option, by notice in writing to the
Company, terminate the Facility. The Company

19

 

acknowledges, and the parties hereto agree, that each
holder of a Note has the right to maintain its investment in the Notes free from repayment by the
Company (except as herein specifically provided for) and without the occurrence of an Event of
Default and that the provision for payment of Yield-Maintenance Amount by the Company in the event
the Notes are prepaid or are accelerated as a result of an Event of Default is intended to provide
compensation for the deprivation of such right under such circumstances.

     7B. Rescission of Acceleration. At any time after any or all of the Notes shall have been
declared immediately due and payable pursuant to paragraph 7A, the Required Holder(s) may, by
notice in writing to the Company, rescind and annul such declaration and its consequences if (i)
the Company shall have
paid all overdue interest on the Notes, the principal of and Yield-Maintenance Amount, if any,
payable with respect to any Notes which have become due otherwise than by reason of such
declaration, and interest on such overdue interest and overdue principal and Yield-Maintenance
Amount at the Default Rate, (ii) the Company shall not have paid any amounts which have become due
solely by reason of such declaration, (iii) all Events of Default and Defaults, other than
non-payment of amounts which have become due solely by reason of such declaration, shall have been
cured or waived pursuant to paragraph 11C, and (iv) no judgment or decree shall have been entered
for the payment of any amounts due pursuant to the Notes of such Series or this Agreement. No such
rescission or annulment shall extend to or affect any subsequent Event of Default or Default or
impair any right arising therefrom.

     7C. Notice of Acceleration or Rescission. Whenever any Note shall be declared immediately due
and payable pursuant to paragraph 7A or any such declaration shall be rescinded and annulled
pursuant to paragraph 7B, the Company shall forthwith give written notice thereof to the holder of
each Note of each Series at the time outstanding.

     7D. Other Remedies. If any Event of Default or Default shall occur and be continuing, the
holder of any Note may proceed to protect and enforce its rights under this Agreement and such Note
by exercising such remedies as are available to such holder in respect thereof under applicable
law, either by suit in equity or by action at law, or both, whether for specific performance of any
covenant or other agreement contained in this Agreement or in aid of the exercise of any power
granted in this Agreement. No remedy conferred in this Agreement upon the holder of any Note is
intended to be exclusive of any other remedy, and each and every such remedy shall be cumulative
and shall be in addition to every other remedy conferred herein or now or hereafter existing at law
or in equity or by statute or otherwise.

     8. REPRESENTATIONS, COVENANTS AND WARRANTIES. The Company represents, covenants and warrants
as follows:

     8A(1). Organization; Subsidiary Preferred Equity. The Company is a corporation duly organized
and existing in good standing under the laws of the State of Ohio, and each Subsidiary is duly
organized and existing in good standing under the laws of the jurisdiction in which it is
organized. The Company and each of its Subsidiaries have duly qualified or been duly licensed, and
are authorized to do business and are in good standing, in each jurisdiction in which the ownership
of their respective properties or the nature of their respective businesses makes such
qualification or licensing necessary and in which the failure to be so qualified or

20

 

licensed could
be reasonably likely to have a Material Adverse Effect. No Subsidiary has any outstanding shares
of any class of capital stock or other equity interests which has priority over any other class of
capital stock or other equity interests of such Subsidiary as to dividends or distributions or in
liquidation except as may be owned beneficially and of record by the Company or a Wholly-Owned
Subsidiary. Each of its Subsidiary’s legal name and its state or jurisdiction of organization has
been set forth in the Company’s most recent annual report on Form 10-K (excluding for any
Subsidiary organized or no longer in existence since the date thereof). As of
the date of this Agreement, no Subsidiary is a Guarantor with respect to any Indebtedness
under the Primary Credit Facility or under any other Material Indebtedness Agreement.

     8A(2). Power and Authority. The Company and each Subsidiary has all requisite corporate,
limited liability company or partnership, as the case may be, power to own or hold under lease and
operate their respective properties which it purports to own or hold under lease and to conduct its
business as currently conducted and as currently proposed to be conducted. The Company has all
requisite corporate power to execute, deliver and perform its obligations under this Agreement and
the Notes. The execution, delivery and performance of this Agreement and the Notes has been duly
authorized by all requisite corporate action, and this Agreement and the Notes have been duly
executed and delivered by authorized officers of the Company and are valid obligations of the
Company, legally binding upon and enforceable against the Company in accordance with their terms,
except as such enforceability may be limited by (i) bankruptcy, insolvency, reorganization or other
similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles
of equity (regardless of whether such enforceability is considered in a proceeding in equity or at
law).

     8B. Financial Statements. The Company has furnished each Purchaser of any Note with (i) its
annual report on Form 10K for each of the three fiscal years of the Company most recently completed
prior to the date as of which this representation is made or repeated to such Purchaser (other than
fiscal years completed within 90 days prior to such date for which audited financial statements
have not been released) and (ii) quarterly report on Form 10-Q as at the end of the quarterly
period (if any) most recently completed prior to such date and after the end of such fiscal year
(other than quarterly periods completed within 45 days prior to such date for which financial
statements have not been released). There has been no material adverse change in the business,
property or assets, condition (financial or otherwise), operations or prospects of the Company and
its Subsidiaries taken as a whole since the end of the most recent fiscal year for which such
audited financial statements had been furnished to NYLIM at the time of the execution of this
Agreement by NYLIM (in the case of the making of this representation at the time of the execution
of this Agreement), or, in the case of the making of this representation at the time of the
issuance of a Series of Shelf Notes, since the end of the most recent fiscal year for which annual
report on Form 10-K described in clause (i) of this paragraph 8B had been provided to NYLIM prior
to the time NYLIM provided the interest rate quote to the Company pursuant to paragraph 2D with
respect to such Series of Shelf Notes.

     8C. Actions Pending. There is no action, suit, investigation or proceeding pending or, to the
knowledge of the Company, threatened against the Company or any of its Subsidiaries, or any
properties or rights of the Company or any of its Subsidiaries, by or before any court,

21

 

arbitrator
or administrative or governmental body which, individually or in the aggregate, could reasonably be
expected to result in any Material Adverse Effect.

     8D. Outstanding Indebtedness. Neither the Company nor any of its Subsidiaries has outstanding
any Indebtedness except
as permitted by paragraph 6B. There exists no default under the provisions of any instrument
evidencing such Indebtedness or of any agreement relating thereto.

     8E. Title to Properties. The Company has and each of its Subsidiaries has good and
indefeasible title to its respective real properties (other than properties which it leases) and
good title to all of its other respective properties and assets, including the properties and
assets reflected in the most recent audited balance sheet referred to in paragraph 8B (other than
properties and assets disposed of in the ordinary course of business), subject to no Lien of any
kind except Liens permitted by paragraph 6C and except where the failure to have such title would
not have a Material Adverse Affect. All leases necessary in any material respect for the conduct
of the respective businesses of the Company and its Subsidiaries are valid and subsisting and are
in full force and effect except for those leases which the failure to be so would not have a
Material Adverse Effect.

     8F. Taxes. The Company has, and each of its Subsidiaries has, filed all federal, state and
other income tax returns which, to the knowledge of the officers of the Company and its
Subsidiaries, are required to be filed, and each has paid all taxes as shown on such returns and on
all assessments received by it to the extent that such taxes have become due, except such taxes as
are being actively contested in good faith by appropriate proceedings for which adequate reserves
have been established in accordance with generally accepted accounting principles or which the
failure to file or pay would not have a Material Adverse Affect.

     8G. Conflicting Agreements and Other Matters. Neither the Company nor any of its Subsidiaries
is a party to any contract or agreement or subject to any charter, by-law, limited liability
company operating agreement, partnership agreement or other corporate, limited liability company or
partnership restriction which materially and adversely affects its business, property or assets,
condition (financial or otherwise) or operations. Neither the execution nor delivery of this
Agreement or the Notes, nor the offering, issuance and sale of the Notes, nor fulfillment of nor
compliance with the terms and provisions hereof and of the Notes will conflict with, or result in a
breach of the terms, conditions or provisions of, or constitute a default under, or result in any
violation of, or result in the creation of any Lien upon any of the properties or assets of the
Company or any of its Subsidiaries pursuant to, the charter, by-laws, limited liability company
operating agreement or partnership agreement of the Company or any of its Subsidiaries, any award
of any arbitrator or any agreement (including any agreement with stockholders, members or
partners), instrument, order, judgment, decree, statute, law, rule or regulation to which the
Company or any of its Subsidiaries is subject and the violation of which would have a Material
Adverse Affect. Neither the Company nor any of its Subsidiaries is a party to, or otherwise
subject to any provision contained in, any instrument evidencing Indebtedness of the Company or
such Subsidiary, any agreement relating thereto or any other contract or agreement (including its
charter, by-laws, limited liability company operating agreement or partnership agreement), the
violation of which would have a Material Adverse Affect, which limits the amount of, or otherwise
imposes restrictions on the incurring of, Indebtedness of the Company of the type to be

22

 

evidenced
by the Notes except as set forth in the agreements listed in Schedule 8G attached hereto (as such
Schedule 8G may have been modified from time to time by written supplements thereto delivered by
the Company and accepted in writing by NYLIM).

     8H. Offering of Notes. Neither the Company nor any agent acting on its behalf has, directly
or indirectly, offered the Notes or any similar security of the Company for sale to, or solicited
any offers to buy the Notes or any similar security of the Company from, or otherwise approached or
negotiated with respect thereto with, any Person other than Institutional Investors, and neither
the Company nor any agent acting on its behalf has taken or will take any action which would
subject the issuance or sale of the Notes to the provisions of Section 5 of the Securities Act or
to the provisions of any securities or Blue Sky law of any applicable jurisdiction.

     8I. Use of Proceeds. The proceeds of any Series of Shelf Notes will be used as specified in
the Request for Purchase with respect to such Series. Neither the Company nor any Subsidiary owns
or has any present intention of acquiring any “margin stock” as defined in Regulation U (12 CFR
Part 221) of the Board of Governors of the Federal Reserve System (herein called “margin stock”).
None of the proceeds of the sale of any Notes will be used, directly or indirectly, for the
purpose, whether immediate, incidental or ultimate, of purchasing or carrying any margin stock or
for the purpose of maintaining, reducing or retiring any Indebtedness which was originally incurred
to purchase or carry any stock that is then a margin stock or for any other purpose which might
constitute the sale or purchase of any Notes a “purpose credit” within the meaning of such
Regulation U. The Company is not engaged principally, or as one of its important activities, in
the business of extending credit for the purpose of purchasing or carrying margin stock. Neither
the Company nor any agent acting on its behalf has taken or will take any action which might cause
this Agreement or any Note to violate Regulation T, Regulation U or any other regulation of the
Board of Governors of the Federal Reserve System or to violate the Exchange Act, in each case as in
effect now or as the same may hereafter be in effect.

     8J. ERISA. Except as referred to in the Company’s report as Form 10-K for its most recently
concluded fiscal year, no accumulated funding deficiency (as defined in section 302 of ERISA and
section 412 of the Code), whether or not waived, exists with respect to any Plan (other than a
Multiemployer Plan). No liability to the PBGC has been or is expected by the Company or any ERISA
Affiliate to be incurred with respect to any Plan (other than a Multiemployer Plan) by the Company,
any Subsidiary or any ERISA Affiliate which is or could reasonably be expected to be materially
adverse to the business, property or assets, condition (financial or otherwise) or operations of
the Company and its Subsidiaries taken as a whole. Neither the Company, any Subsidiary nor any
ERISA Affiliate has incurred or presently expects to incur any withdrawal liability under Title IV
of ERISA with respect to any Multiemployer Plan which is or could reasonably be expected to be
materially adverse to the business, property or assets, condition (financial or otherwise) or
operations of the Company and its Subsidiaries taken as a whole. The execution and delivery of
this Agreement and the issuance and sale of the Notes will be exempt from or will not involve any
transaction which is subject to the prohibitions of section 406 of ERISA and will not involve any
transaction in connection with which a penalty could be imposed under section 502(i) of ERISA or a
tax could be imposed pursuant to section

23

 

4975 of the Code. The representation by the Company in
the next preceding sentence is made in reliance upon and subject to the accuracy of each
Purchaser’s representation in paragraph 9B.

     8K. Governmental Consent. Neither the nature of the Company or of any Subsidiary, nor any of
their respective businesses or properties, nor any relationship between the Company or any
Subsidiary and any other Person, nor any circumstance in connection with the offering, issuance,
sale or delivery of the Notes is such as to require any authorization, consent, approval, exemption
or other action by or notice to or filing with any court or administrative or governmental body
(other than routine filings after the Closing Day for any Notes with the Securities and Exchange
Commission and/or state Blue Sky authorities) in connection with the execution and delivery of this
Agreement, the offering, issuance, sale or delivery of the Notes or fulfillment of or compliance
with the terms and provisions hereof or of the Notes.

     8L. Compliance with Environmental and Other Laws. The Company and its Subsidiaries and all of
their respective properties and facilities have complied at all times and in all respects with all
federal, state, local, foreign and regional statutes, laws, ordinances and judicial or
administrative orders, judgments, rulings and regulations, including, without limitation, those
relating to protection of the environment, except, in any such case, where failure to comply,
individually or in the aggregate, could not reasonably be expected to result in a Material Adverse
Effect.

     8M. Regulatory Status. Neither the Company nor any of its Subsidiaries is (i) an “investment
company” or a company “controlled” by an “investment company” within the meaning of the Investment
Company Act of 1940, as amended, or an “investment adviser” within the meaning of the Investment
Advisers Act of 1940, as amended, (ii) a “holding company” or a “subsidiary company” or an
“affiliate” of a “holding company” or of a “subsidiary company” of a “holding company”, within the
meaning of the Public Utility Holding Company Act of 2005, or (iii) a “public utility” within the
meaning of the Federal Power Act, as amended.

     8N. Permits and Other Operating Rights. The Company and each Subsidiary has all such valid
and sufficient certificates of convenience and necessity, franchises, licenses, permits, operating
rights and other authorizations from federal, state, foreign, regional, municipal and other local
regulatory bodies or administrative agencies or other governmental bodies having jurisdiction over
the Company or any Subsidiary or any of its properties, as are necessary for the ownership,
operation and maintenance of its businesses and properties, as presently conducted and as proposed
to be conducted while the Notes are outstanding, subject to exceptions and deficiencies which,
individually or in the aggregate, could not reasonably be expected to have a Material Adverse
Effect, and such certificates of convenience and necessity, franchises, licenses, permits,
operating rights and other authorizations from federal, state, foreign, regional, municipal and
other local regulatory bodies or administrative agencies or other governmental bodies having
jurisdiction over the Company, any Subsidiary or any of its properties are free from restrictions
or conditions which, individually or in the aggregate, could reasonably be expected to have a
Material Adverse Effect, and neither the Company nor any Subsidiary is in violation of any thereof
in any material respect.

24

 

     8O. Rule 144A. The Notes are not of the same class as securities of the Company, if any,
listed on a national securities exchange registered
under Section 6 of the Exchange Act or quoted in a U.S. automated inter-dealer quotation
system.

     8P. Absence of Financing Statements, etc. Except with respect to Liens permitted by paragraph
6C hereof there is, to the knowledge of a Financial Officer, no financing statement, security
agreement, chattel mortgage, real estate mortgage or other document filed or recorded with any
filing records, registry or other public office, that purports to cover, affect or give notice of
any present or possible future Lien on, or security interest in, any assets or property of the
Company or any of its Subsidiaries or any rights relating thereto.

     8Q. Foreign Assets Control Regulations, Etc.

     (i) Neither the sale of any Notes by the Company hereunder nor its use of the proceeds
thereof will violate the Trading with the Enemy Act, as amended, or any of the foreign
assets control regulations of the United States Treasury Department (31 CFR, Subtitle B,
Chapter V, as amended) or any enabling legislation or executive order relating thereto.

     (ii) Neither the Company nor any Subsidiary (i) is a Person described or designated in
the Specially Designated Nationals and Blocked Persons List of the Office of Foreign Assets
Control or in Section 1 of the Anti-Terrorism Order or (ii) engages in any dealings or
transactions with any such Person. The Company and its Subsidiaries are in compliance, in
all material respects, with the USA Patriot Act.

     (iii) No part of the proceeds from the sale of any Notes hereunder will be used,
directly or indirectly, for any payments to any governmental official or employee, political
party, official of a political party, candidate for political office, or anyone else acting
in an official capacity, in order to obtain, retain or direct business or obtain any
improper advantage, in violation of the United States Foreign Corrupt Practices Act of 1977,
as amended, assuming in all cases that such Act applies to the Company.

     8R. Disclosure. Neither this Agreement nor any other document, certificate or statement
furnished to NYLIM or any Purchaser by or on behalf of the Company in connection herewith contains
any untrue statement of a material fact or omits to state a material fact necessary in order to
make the statements contained herein and therein not misleading. There is no fact or facts
peculiar to the Company or any of its Subsidiaries which materially adversely affects or in the
future may (so far as the Company can now reasonably foresee), individually or in the aggregate,
reasonably be expected to materially adversely affect the business, property or assets, or
financial condition of the Company or any of its Subsidiaries and which has not been set forth in
this Agreement or in the other documents, certificates and statements furnished to NYLIM and each
Purchaser by or on behalf of the Company prior to the date hereof in connection with the
transactions contemplated hereby. Any financial projections delivered to NYLIM or any Purchaser on
or prior to the date this representation is made or repeated are reasonable based on the
assumptions stated therein and the best information available to the officers of the Company. The
copy of the Primary Credit Facility furnished to NYLIM prior to

25

 

the date of this Agreement is a true and complete copy of the Primary Credit
Facility as in effect on the date of this Agreement.

     8S. Hostile Tender Offers. None of the proceeds of the sale of any Notes will be used to
finance a Hostile Tender Offer.

     9. REPRESENTATIONS OF EACH PURCHASER. Each Purchaser represents as follows:

     9A. Nature of Purchase. Such Purchaser is not acquiring the Notes purchased by it hereunder
with a view to or for sale in connection with any distribution thereof within the meaning of the
Securities Act, provided that the disposition of such Purchaser’s property shall at all times be
and remain within its control.

     9B. Source of Funds. At least one of the following statements is an accurate representation
as to each source of funds (a “Source”) to be used by such Purchaser to pay the purchase price of
the Notes to be purchased by such Purchaser hereunder:

     (i) the Source is an “insurance company general account” (as that term is defined in
the United States Department of Labor’s Prohibited Transaction Exemption (“PTE”) 95-60) in
respect of which the reserves and liabilities (as defined by the annual statement for life
insurance companies approved by the National Association of Insurance Commissioners (the
“NAIC Annual Statement”)) for the general account contract(s) held by or on behalf of any
employee benefit plan together with the amount of the reserves and liabilities for the
general account contract(s) held by or on behalf of any other employee benefit plans
maintained by the same employer (or affiliate thereof as defined in PTE 95-60) or by the
same employee organization in the general account do not exceed 10% of the total reserves
and liabilities of the general account (exclusive of separate account liabilities) plus
surplus as set forth in the NAIC Annual Statement filed with such Purchaser’s state of
domicile; or

     (ii) the Source is a separate account that is maintained solely in connection with such
Purchaser’s fixed contractual obligations under which the amounts payable, or credited, to
any employee benefit plan (or its related trust) that has any interest in such separate
account (or to any participant or beneficiary of such plan (including any annuitant)) are
not affected in any manner by the investment performance of the separate account; or

     (iii) the Source is either (a) an insurance company pooled separate account, within the
meaning of PTE 90-1, or (b) a bank collective investment fund, within the meaning of the PTE
91-38 and, except as disclosed by such Purchaser to the Company in writing pursuant to this
clause (iii), no employee benefit plan or group of plans maintained by the same employer or
employee organization beneficially owns more than 10% of all assets allocated to such pooled
separate account or collective investment fund; or

26

 

     (iv) the Source constitutes assets of an “investment fund” (within the meaning of Part
V of PTE 84-14 (the “QPAM Exemption”)) managed by a “qualified professional asset manager”
or “QPAM” (within the meaning of Part V of the QPAM Exemption), no employee benefit plan’s
assets that are included in such investment fund, when combined with the assets of all other
employee benefit plans established or maintained by the same employer or by an affiliate
(within the meaning of Section V(c)(1) of the QPAM Exemption) of such employer or by the
same employee organization and managed by such QPAM, exceed 20% of the total client assets
managed by such QPAM, the conditions of Part I(c) and (g) of the QPAM Exemption are
satisfied, neither the QPAM nor a person controlling or controlled by the QPAM (applying the
definition of “control” in Section V(e) of the QPAM Exemption) owns a 5% or more interest in
the Company and (a) the identity of such QPAM and (b) the names of all employee benefit
plans whose assets are included in such investment fund have been disclosed to the Company
in writing pursuant to this clause (iv); or

     (v) the Source constitutes assets of a “plan(s)” (within the meaning of Section IV of
PTE 96-23 (the “INHAM Exemption”)) managed by an “in-house asset manager” or “INHAM” (within
the meaning of Part IV of the INHAM Exemption), the conditions of Part I(a), (g) and (h) of
the INHAM Exemption are satisfied, neither the INHAM nor a person controlling or controlled
by the INHAM (applying the definition of “control” in Section IV(h) of the INHAM Exemption)
owns a 5% or more interest in the Company and (a) the identity of such INHAM and (b) the
name(s) of the employee benefit plan(s) whose assets constitute the Source have been
disclosed to the Company in writing pursuant to this clause (v); or

     (vi) the Source is a governmental plan; or

     (vii) the Source is one or more employee benefit plans, or a separate account or trust
fund comprised of one or more employee benefit plans, each of which has been identified to
the Company in writing pursuant to this clause (vii); or

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

As used in this paragraph 9B, the terms “employee benefit plan”, “governmental plan”, and “separate
account” shall have the respective meanings assigned to such terms in Section 3 of ERISA.

     10. DEFINITIONS; ACCOUNTING MATTERS. For the purpose of this Agreement, the terms defined in
paragraphs 10A and 10B (or within the text of any other paragraph) shall have the respective
meanings specified therein and all accounting matters shall be subject to determination as provided
in paragraph 10C.

27

 

     10A. Yield-Maintenance Terms.

          “Called Principal” shall mean, with respect to any Note, the principal of such Note that is to
be prepaid pursuant to paragraph 4B or is declared to be or otherwise becomes due and payable
pursuant to paragraph 7A, as the context requires.

          “Discounted Value” shall mean, with respect to the Called Principal of any Note, the amount
obtained by discounting all Remaining Scheduled Payments with respect to such Called Principal from
their respective scheduled due dates to the Settlement Date with respect to such Called Principal,
in accordance with accepted financial practice and at a discount factor (as converted to reflect
the periodic basis on which interest on such Note is payable, if interest is payable other than on
a semi-annual basis) equal to the Reinvestment Yield with respect to such Called Principal.

          “Reinvestment Yield” shall mean, with respect to the Called Principal of any Note, 0.50% over
the yield to maturity implied by (i) the yields reported as of 10:00 a.m. (New York City local
time) on the Business Day next preceding the Settlement Date with respect to such Called Principal
for the most recent actively traded on the run U.S. Treasury securities having a maturity equal to
the Remaining Average Life of such Called Principal as of such Settlement Date on the display
designated as “Page PX1” on Bloomberg Financial Markets (or such other display as may replace Page
PX1 on Bloomberg Financial Markets or, if Bloomberg Financial Markets shall cease to report such
yields or shall cease to be NYLIM’s customary source of information for calculating
yield-maintenance amounts on privately placed notes, then such source as is NYLIM’s customary
source of such information), or (ii) if such yields shall not be reported as of such time or the
yields reported as of such time shall not be ascertainable (including by way of interpolation), the
Treasury Constant Maturity Series yields reported, for the latest day for which such yields shall
have been so reported as of the Business Day next preceding the Settlement Date with respect to
such Called Principal, in Federal Reserve Statistical Release H.15 (or any comparable successor
publication) for U.S. Treasury securities having a constant maturity equal to the Remaining Average
Life of such Called Principal as of such Settlement Date. In the case of each determination under
clause (i) or (ii) of the preceding sentence, such implied yield shall be determined, if necessary,
by (a) converting U.S. Treasury bill quotations to bond equivalent yields in accordance with
accepted financial practice and (b) interpolating linearly between (1) the applicable U.S. Treasury
security with the maturity closest to and greater than such Remaining Average Life and (2) the
applicable U.S. Treasury security with the maturity closest to and less than such Remaining Average
Life. The Reinvestment Yield shall be rounded to that number of decimal places as appears in the
coupon of the applicable Note.

          “Remaining Average Life” shall mean, with respect to the Called Principal of any Note, the
number of years (calculated to the nearest one-twelfth year) obtained by dividing (i) such Called
Principal into (ii) the sum of the products obtained by multiplying (a) each Remaining Scheduled
Payment of such Called Principal (but not of interest thereon) by (b) the number of years
(calculated to the nearest one-twelfth year) which will elapse between the Settlement Date with
respect to such Called Principal and the scheduled due date of such Remaining Scheduled Payment.

28

 

          “Remaining Scheduled Payments” shall mean, with respect to the Called Principal of any Note,
all payments of such Called Principal and interest thereon that would be due on or after the
Settlement Date with respect to such Called Principal if no payment of such Called Principal were
made prior to its scheduled due date.

          “Settlement Date” shall mean, with respect to the Called Principal of any Note, the date on
which such Called Principal is to be prepaid pursuant to paragraph 4B or is declared to be or
otherwise becomes due and payable pursuant to paragraph 7A, as the context requires.

          “Yield-Maintenance Amount” shall mean, with respect to any Note, an amount equal to the
excess, if any, of the Discounted Value of the Called Principal of such Note over the sum of (i)
such Called Principal plus (ii) interest accrued thereon as of (including interest due on) the
Settlement Date with respect to such Called Principal. The Yield-Maintenance Amount shall in no
event be less than zero.

     10B. Other Terms.

          “Acceptance” shall have the meaning given in paragraph 2E hereof.

          “Acceptance Day” shall have the meaning given in paragraph 2E hereof.

          “Acceptance Window” shall mean, with respect to any interest rate quotes provided by NYLIM
pursuant to paragraph 2D, the time period designated by NYLIM as the time period during which the
Company may elect to accept such interest rate quotes. If no such time period is designated by
NYLIM with respect to any such interest rate quotes, then the Acceptance Window for such interest
rate quotes will be 2 minutes after the time NYLIM shall have provided such interest rate quotes to
the Company.

          “Accepted Note” shall have the meaning given in paragraph 2E hereof.

          “Acquisition” shall mean any transaction or series of related transactions for the purpose of
or resulting, directly or indirectly, in (a) the acquisition of all or substantially all of the
assets of any Person, or any business or division of any Person, (b) the acquisition of in excess
of fifty percent (50%) of the stock (or other equity interest) of any Person, or (c) the
acquisition of another Person (other than the Company or a Subsidiary) by a merger or consolidation
or any other combination with such Person.

          “Affiliate” shall mean (i) with respect to any specified Person, any other Person that,
directly or indirectly, controls, is controlled by, or is under common control with such specified
Person, and (ii) with respect to NYLIM, shall include any managed account, investment fund or other
vehicle for which NYLIM or any Affiliate of NYLIM then acts as investment advisor or portfolio
manager. “Control” (including the correlative meanings, the terms “controlling”, “controlled by”
and “under common control with”) shall mean the possession, directly or indirectly of, the power to
direct or cause the direction of the management and policies of such specified Person, whether
through the ownership of voting securities, by contract or otherwise.

29

 

          “Alternate Currency” shall mean Euros, Pounds Sterling, Japanese Yen or any other currency,
other than Dollars, that is freely transferable and convertible into Dollars.

          “Anti-Terrorism Order” means Executive Order No. 13,224 of September 24, 2001, Blocking
Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit or Support
Terrorism, 66 U.S. Fed. Reg. 49, 079 (2001), as amended.

          “Authorized Officer” shall mean (i) in the case of the Company, its chief executive officer,
its chief financial officer, its treasurer, any vice president of the Company designated as an
“Authorized Officer” of the Company in the Information Schedule attached hereto or any vice
president of the Company designated as an “Authorized Officer” of the Company for the purpose of
this Agreement in an Officer’s Certificate executed by the Company’s chief executive officer or
chief financial officer and delivered to NYLIM, and (ii) in the case of NYLIM or any NYLIM
Affiliate, any Person designated as an “Authorized Officer” of NYLIM and NYLIM Affiliates in the
Information Schedule or any Person designated as its “Authorized Officer” for the purpose of this
Agreement in a certificate executed by one of NYLIM’s Authorized Officers or a lawyer in NYLIM’s
law department. Any action taken under this Agreement on behalf of the Company by any individual
who on or after the date of this Agreement shall have been an Authorized Officer of the Company and
whom NYLIM or any NYLIM Affiliate in good faith believes to be an Authorized Officer of the Company
at the time of such action shall be binding on the Company even though such individual shall have
ceased to be an Authorized Officer of the Company, and any action taken under this Agreement on
behalf of NYLIM or any NYLIM Affiliate by any individual who on or after the date of this Agreement
shall have been an Authorized Officer of NYLIM or such NYLIM Affiliate and whom the Company in good
faith believes to be an Authorized Officer of NYLIM or such NYLIM Affiliate at the time of such
action shall be binding on NYLIM or such NYLIM Affiliate even though such individual shall have
ceased to be an Authorized Officer of NYLIM or such NYLIM Affiliate.

          “Available Facility Amount” shall have the meaning given in paragraph 2A hereof.

          “Business Day” shall mean any day other than (i) a Saturday or a Sunday, (ii) a day on which
commercial banks in New York City or Cleveland, Ohio, are required or authorized to be closed and
(iii) for purposes of paragraph 2C hereof only, a day on which NYLIM is not open for business.

          “Cancellation Date” shall have the meaning given in paragraph 2H(3) hereof.

          “Cancellation Fee” shall have the meaning given in paragraph 2H(3) hereof.

          “Capital Distribution” shall mean a payment made, liability incurred or other consideration
given for the purchase, acquisition, redemption or retirement of any capital stock or other equity
interest of the Company or any Subsidiary or as a dividend, return of capital or other
distribution (other than any stock dividend, stock split or other equity distribution payable only
in capital stock or other equity of the Company or such Subsidiary in question) in respect of

30

 

the Company’s or any Subsidiary’s capital stock or other equity interest, including, but not
limited to, any Share Repurchase.

          “Cash Equivalent” shall mean any debt instrument that would be deemed a cash equivalent in
accordance with GAAP.

          “Change of Control” shall mean (a) the acquisition of, or, if earlier, the shareholder or
director approval of the acquisition of, ownership or voting control, directly or indirectly,
beneficially or of record, on or after the date of this Agreement, by any Person or group (within
the meaning of Rule 13d-3 of the Exchange Act) other than the Current Management Team, of shares
representing more than fifty percent (50%) of the aggregate ordinary Voting Power represented by
the issued and outstanding capital stock of the Company; (b) the occupation of a majority of the
seats (other than vacant seats) on the board of directors of the Company by persons who were
neither (i) nominated by the board of directors of the Company nor (ii) appointed by directors so
nominated; or (c) the occurrence of a change of control, or other similar provision, as defined in
any Material Indebtedness Agreement..

          “Closing Day” shall mean with respect to any Accepted Note, the Business Day specified for the
closing of the purchase and sale of such Accepted Note in the Confirmation of Acceptance for such
Accepted Note, provided that (i) if the Company and the Purchaser which is obligated to purchase
such Accepted Note agree on an earlier Business Day for such closing, the “Closing Day” for such
Accepted Note shall be such earlier Business Day, and (ii) if the closing of the purchase and sale
of such Accepted Note is rescheduled pursuant to paragraph 2G, the Closing Day for such Accepted
Note, for all purposes of this Agreement except references to “original Closing Day” in paragraph
2H(3), shall mean the Rescheduled Closing Day with respect to such Accepted Note.

          “Code” shall mean the Internal Revenue Code of 1986, as amended, together with the rules and
regulations promulgated thereunder.

          “Compliance Certificate” shall mean a certificate, substantially in the form of the attached
Exhibit F.

          “Confirmation of Acceptance” shall have the meaning given in paragraph 2E.

          “Confirmation of Guaranty Agreement” shall have the meaning given in paragraph 3A(ii).

          “Consideration” shall mean, in connection with an Acquisition, the aggregate consideration
paid, including borrowed funds, cash, the issuance of securities or notes, the assumption or
incurring of liabilities (direct or contingent), the payment, in excess of fair and reasonable
amounts, of consulting fees or fees for a covenant not to compete and any other consideration paid
for the purchase.

          “Consolidated” shall mean the resultant consolidation of the financial statements of the
Company and its Subsidiaries in accordance with GAAP, including principles of consolidation
consistent with those applied in preparation of the consolidated financial statements referred to
in paragraph 5B hereof.

31

 

          “Consolidated Depreciation and Amortization Charges” shall mean, for any period, the aggregate
of all depreciation and amortization charges for fixed assets, leasehold improvements and general
intangibles (specifically including goodwill) as well as impairments thereof and any losses traced
to the write-off of goodwill, fixed assets, leasehold improvements and general intangibles
associated with the disposal or exiting of a business of the Company or any of its Subsidiaries for
such period, all as determined on a Consolidated basis and in accordance with GAAP.

          “Consolidated EBIT” shall mean, for any period, on a Consolidated basis and in accordance with
GAAP, Consolidated Net Earnings for such period plus the aggregate amounts deducted in determining
such Consolidated Net Earnings in respect of (a) income taxes, (b) Consolidated Interest Expense,
(c) any non-cash charges taken in accordance with GAAP, (d) any non-cash charges relating to annual
costs associated with expensing the Company’s employee stock option program if the Company is
required or chooses to do so, and (e) any non-cash charges.

          “Consolidated EBITDA” shall mean, for any period, on a Consolidated basis and in accordance
with GAAP, Consolidated EBIT plus Consolidated Depreciation and Amortization Charges.

          “Consolidated Interest Expense” shall mean, for any period, the interest expense of the
Company for such period, as determined on a Consolidated basis and in accordance with GAAP, and
shall include that portion of the expenses of a Permitted Receivables Facility that would be the
equivalent to interest expense if a Company obtained funding in a manner that would give rise to
interest expense, in an amount approximately equal to the amount of the Permitted Receivables
Facility.

          “Consolidated Net Earnings” shall mean, for any period, the net income (loss) of the Company
for such period, as determined on a Consolidated basis and in accordance with GAAP.

          “Consolidated Total Assets” shall mean the book value of all assets of the Company and its
Subsidiaries, as determined on a Consolidated basis and in accordance with GAAP, based upon the
financial statements of the Company for the most recently completed fiscal quarter.

          “Consolidated Trailing EBITDA” shall mean the sum of (a) Consolidated EBITDA, plus (b)(i)
without duplication, the EBITDA of Subsidiaries acquired by the Company and its Subsidiaries during
the most recently completed four (4) fiscal quarters to the extent that such EBITDA of Subsidiaries
acquired is confirmed by audited financial or other information (which other information need not
be audited or auditable) satisfactory to NYLIM minus (ii) the EBITDA of Subsidiaries disposed of by
the Company and its Subsidiaries during the most recently completed four (4) fiscal quarters;
provided, however, that, non-recurring gains shall be excluded from the determination of
Consolidated Trailing EBITDA.

          “Consolidated Trailing Interest Expense” shall mean the sum of (a) Consolidated Interest
Expense, plus (b)(i) without duplication, the interest expense of

32

 

Subsidiaries acquired by the Company and its Subsidiaries during the most recently completed
four (4) fiscal quarters to the extent that such interest expense of such Subsidiaries acquired is
confirmed by audited financial or other information (which other information need not be audited or
auditable) satisfactory to NYLIM, minus (ii) the interest expense of Subsidiaries disposed of by
the Company and its Subsidiaries during the most recently completed four (4) fiscal quarters.

          “Consolidated Trailing Net Earnings” shall mean the sum of (a) Consolidated Net Earnings, plus
(b)(i) without duplication, the Net Earnings of Subsidiaries acquired by the Company and its
Subsidiaries during the most recently completed four (4) fiscal quarters to the extent that such
Net Earnings of such Subsidiaries acquired is confirmed by audited financial or other information
(which other information need not be audited or auditable) satisfactory to NYLIM, minus (ii) the
Net Earnings of Subsidiaries disposed of by the Company and its Subsidiaries during the most
recently completed four (4) fiscal quarters.

          “Controlled Group” shall mean a Company and each Person required to be aggregated with a
Company under Code Sections 414(b), (c), (m) or (o).

          “Current Management Team” shall mean any group comprised of the chief executive officer, the
chief operating officer, the chief financial officer and other senior management of the Company (or
any combination thereof) as in place on the date of this Agreement, and their respective spouses
and children (and/or trusts of which the only beneficiaries are such members of senior management
and their respective spouses and children) or any “group” (within the meaning of Rule 13d under the
Exchange Act) that includes at least three (3) of such members of senior management, together with
their “affiliates” and “associates” (within the meaning of Rule 12b-2 under the Exchange Act).

          “Default” shall mean any of the events specified in paragraph 7A, whether or not any
requirement for such event to become an Event of Default has been satisfied.

          “Default Rate” shall mean, with respect to any Note, a rate per annum from time to time equal
to the lesser of (i) the maximum rate permitted by applicable law, and (ii) the greater of (a)
2.00% per annum above the rate of interest stated in such Note, or (b) 2.00% over the rate of
interest publicly announced by JPMorgan Chase Bank, National Association, from time to time in New
York City as its Prime Rate.

          “Delayed Delivery Fee” shall have the meaning given in paragraph 2H(2) hereof.

          “Depreciation and Amortization Charges” shall mean, with respect to any Person for any period,
in accordance with GAAP, the aggregate of all such charges for fixed assets, leasehold improvements
and general intangibles (specifically including goodwill) of such Person as well as impairments
thereof and any losses traced to the write-off of goodwill, fixed assets, leasehold improvements
and general intangibles associated with the disposal or exiting of a business by such Person for
such period.

          “Dollar” and the sign “$” shall mean lawful money of the United States of America.

33

 

          “Dollar Equivalent” of any amount shall mean the Dollar equivalent of such amount, determined
by NYLIM on the basis of its spot rate at approximately 11:00 A.M. London time on the date for
which the Dollar equivalent amount of such amount is being determined, for the purchase of the
relevant Alternate Currency with Dollars for delivery on such date.

          “EBITDA” shall mean, for any period, in accordance with GAAP, Net Earnings for such period,
plus the aggregate amounts deducted in determining such Net Earnings in respect of (a) income
taxes, (b) interest expense, and (c) Depreciation and Amortization Charges.

          “Environmental Laws” shall mean all provisions of law, statutes, ordinances, rules,
regulations, permits, licenses, judgments, writs, injunctions, decrees, orders, awards and
standards promulgated by the government of the United States of America or any other applicable
country or sovereignty or by any state or municipality thereof or by any court, agency,
instrumentality, regulatory authority or commission of any of the foregoing concerning health,
safety and protection of, or regulation of the discharge of substances into, the environment.

          “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended from time
to time, and the regulations promulgated pursuant thereto.

          “ERISA Affiliate” shall mean any corporation which is a member of the same controlled group of
corporations as the Company within the meaning of section 414(b) of the Code, or any trade or
business which is under common control with the Company within the meaning of section 414(c) of the
Code.

          “ERISA Event” shall mean (a) the existence of a condition or event with respect to an ERISA
Plan that presents a risk of the imposition of an excise tax or any other liability on a Company or
of the imposition of a Lien on the assets of the Company or its Subsidiaries; (b) the engagement by
a Controlled Group member in a non-exempt “prohibited transaction” (as defined under ERISA Section
406 or Code Section 4975) or a breach of a fiduciary duty under ERISA that could result in
liability to a Company; (c) the application by a Controlled Group member for a waiver from the
minimum funding requirements of Code Section 412 or ERISA Section 302 or a Controlled Group member
is required to provide security under Code Section 401(a)(29) or ERISA Section 307; (d) the
occurrence of a Reportable Event with respect to any Pension Plan as to which notice is required to
be provided to the PBGC; (e) the withdrawal by a Controlled Group member from a Multiemployer Plan
in a “complete withdrawal” or a “partial withdrawal” (as such terms are defined in ERISA Sections
4203 and 4205, respectively); (f) the involvement of, or occurrence or existence of any event or
condition that makes likely the involvement of, a Multiemployer Plan in any reorganization under
ERISA Section 4241; (g) the failure of an ERISA Plan (and any related trust) that is intended to be
qualified under Code Sections 401 and 501 to be so qualified or the failure of any “cash or
deferred arrangement” under any such ERISA Plan to meet the requirements of Code Section 401(k);
(h) the taking by the PBGC of any steps to terminate a Pension Plan or appoint a trustee to
administer a Pension Plan, or the taking by a Controlled Group member of any steps to terminate a
Pension Plan; (i) the failure by a Controlled Group member or an ERISA Plan to satisfy any
requirements of law applicable to an ERISA Plan; (j) the commencement, existence or threatening of
a claim, action, suit, audit or investigation with respect to an ERISA Plan, other than a routine
claim for benefits; or (k) any incurrence by or any expectation of the incurrence by a Controlled
Group member of any

34

 

liability for post-retirement benefits under any Welfare Plan, other than as required by ERISA
Section 601, et. seq. or Code Section 4980B, that, as to (a) through (k) above, would reasonably
be likely to have or result in a Material Adverse Effect.

          “ERISA Plan” shall mean an “employee benefit plan” (within the meaning of ERISA Section 3(3))
that a Controlled Group member at any time sponsors, maintains, contributes to, has liability with
respect to or has an obligation to contribute to such plan.

          “Event of Default” shall mean any of the events specified in paragraph 7A, provided that there
has been satisfied any requirement in connection with such event for the giving of notice, or the
lapse of time, or the happening of any further condition, event or act.

          “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.

          “Facility” shall have the meaning given in paragraph 2A hereof.

          “Financial Officer” shall mean any of the following officers: chief executive officer,
president, vice president-finance, chief financial officer, controller or treasurer. Unless
otherwise qualified, all references to a Financial Officer in this Agreement shall refer to a
Financial Officer of the Company.

          “Guarantor” shall mean a Person that pledges its credit or property in any manner for the
payment or other performance of the indebtedness, contract or other obligation of another and
includes (without limitation) any guarantor (whether of payment or of collection), surety, co-maker
or co-borrower, endorser or Person that agrees conditionally or otherwise to make any purchase,
loan or investment in order thereby to enable another to prevent or correct a default of any kind.

          “Guarantor of Payment” shall mean any Subsidiary that executes and delivers a Guaranty
Agreement on or after the Series A Closing Day, or any other Person that shall deliver a Guaranty
Agreement to NYLIM or any holder of a Note on or after the Series A Closing Day in connection with
this Agreement.

          “Guaranty Agreement” shall have the meaning given in paragraph 3A(ii).

          “Hedge Treasury Note(s)” shall mean, with respect to any Accepted Note, the United States
Treasury Note or Notes whose duration (as determined by NYLIM) most closely matches the duration of
such Accepted Note.

          “Hostile Tender Offer” shall mean, with respect to the use of proceeds of any Note, any offer
to purchase, or any purchase of, shares of capital stock of any corporation or equity interests in
any other entity, or securities convertible into or representing the beneficial ownership of, or
rights to acquire, any such shares or equity interests, if such shares, equity interests,
securities or rights are of a class which is publicly traded on any securities exchange or in any
over-the-counter market, other than purchases of such shares, equity interests, securities or
rights representing less than 5% of the equity interests or beneficial ownership of such
corporation or other entity for portfolio investment purposes, and such offer or purchase has not
been duly approved by the board of directors of such corporation or the equivalent governing

35

 

body of such other entity prior to the date on which the Company makes the Request for
Purchase of such Note.

          “including” shall mean, unless the context clearly requires otherwise, “including without
limitation”, whether or not so stated.

          “Indebtedness” shall mean, for the Company or any Subsidiary (excluding in all cases trade
payables payable in the ordinary course of business by the Company or such Subsidiary), without
duplication, (a) all obligations to repay borrowed money, direct or indirect, incurred, assumed, or
guaranteed, (b) all obligations for the deferred purchase price of capital assets, in each case,
incurred outside of the ordinary course of business, (c) all obligations under conditional sales or
other title retention agreements (other than a true consignment), in each case, incurred outside of
the ordinary course of business, (d) all synthetic leases, (e) all lease obligations that have been
capitalized on the books of the Company or such Subsidiary in accordance with GAAP, (f) all
obligations of the Company or such Subsidiary with respect to asset securitization financing
programs, including, but not limited to, all indebtedness under the Permitted Receivables Facility,
and (g) all material obligations arising outside the ordinary course of business to advance funds
to, or to purchase assets, property or services from, any other Person in order to maintain the
financial condition of such Person.

          “Institutional Investor” shall mean any insurance company, commercial, investment or merchant
bank, finance company, mutual fund, registered money or asset manager, savings and loan
association, credit union, registered investment advisor, pension fund, investment company,
licensed broker or dealer, “qualified institutional buyer” (as such term is defined under Rule 144A
promulgated under the Securities Act) or “accredited investor” (as such term is defined in
Regulation D promulgated under the Securities Act).

          “Interest Coverage Ratio” shall mean, for the most recently completed four (4) fiscal quarters
of the Company, on a Consolidated basis and in accordance with GAAP, the ratio of (a) Consolidated
Trailing EBITDA to (b) Consolidated Trailing Interest Expense, as determined after the conclusion
of most recently completed fiscal quarter in accordance with the Company’s customary financial
reporting practices.

          “Issuance Fee” shall have the meaning given in paragraph 2B(8)(i) hereof.

          “Issuance Period” shall have the meaning given in paragraph 2B(2) hereof.

          “Leverage Ratio” shall mean, at any time, for the most recently completed four (4) fiscal
quarters of the Company, on a Consolidated basis and in accordance with GAAP, the ratio of (a)(i)
Total Indebtedness minus (ii) the aggregate amount of cash, Cash Equivalents and other
marketable securities of the Company and its Subsidiaries as set forth on the financial statements
of the Company and its Subsidiaries for the most recently completed fiscal quarter that are not
subject to a Lien (other than a Lien in favor of the holders of the Notes), to (b) Consolidated
Trailing EBITDA, as determined after the conclusion of most recently completed fiscal quarter in
accordance with the Company’s customary financial reporting practices.

36

 

          “Lien” shall mean any mortgage, security interest, lien (statutory or other), charge,
encumbrance on, pledge or deposit of, or conditional sale, leasing, sale with a right of redemption
or other title retention agreement and any capitalized lease with respect to any property (real or
personal) or asset.

          “Material Adverse Effect” shall mean a material adverse effect on (a) the business,
operations, property or condition (financial or otherwise) of the Company and its Subsidiaries
taken as a whole, or (b) the validity or enforceability of this Agreement or any of the other
Transaction Documents or the rights and remedies of the holders of the Notes hereunder or
thereunder.

          “Material Indebtedness Agreement” shall mean any debt instrument, lease (capital, operating or
otherwise), guaranty, contract, commitment, agreement or other arrangement evidencing any
Indebtedness of the Company or any Subsidiary in an amount equal to or greater than the greater of
(i) Fifty Million Dollars ($50,000,000) and (ii) an amount equal to five percent (5%) of
Consolidated Total Assets.

          “Moody’s” shall mean Moody’s Investors Service, Inc., or any successor to such company.

          “Multiemployer Plan” shall mean a Pension Plan that is subject to the requirements of Subtitle
E of Title IV of ERISA.

          “Net Earnings” shall mean, for any period, the net income (loss) for such period, determined
in accordance with GAAP.

          “Notes” shall have the meaning given in paragraph 1B hereof.

          “NYLIM” means New York Life Investment Management LLC.

          “NYLIM Affiliate” shall mean any Affiliate of NYLIM.

          “Officer’s Certificate” shall mean a certificate signed in the name of the Company by an
Authorized Officer of the Company.

          “PBGC” shall mean the Pension Benefit Guaranty Corporation, or any successor or replacement
entity thereto under ERISA.

          “Pension Plan” shall mean an ERISA Plan that is a “pension plan” (within the meaning of ERISA
Section 3(2)).

          “Permitted Receivables Facility” shall mean an accounts receivable facility whereby the
Company or its Subsidiaries sell or transfer the accounts receivables of the Company or its
Subsidiaries to the Receivables Subsidiary which in turn transfers to a buyer, purchaser or lender
undivided fractional interests in such accounts receivable, so long as (a) no portion of the
Indebtedness or any other obligation (contingent or otherwise) under such Permitted Receivables
Facility is guaranteed by the Company or any Subsidiary, (b) there is no recourse or obligation to
the Company or any Subsidiary (other than the Receivables Subsidiary)

37

 

whatsoever other than pursuant to customary representations, warranties, covenants and
indemnities entered into in the ordinary course of business in connection with such Permitted
Receivables Subsidiary, and (c) neither the Company nor any Subsidiary (other than the Receivables
Subsidiary) provides, either directly or indirectly, any other credit support of any kind in
connection with such Permitted Receivables Facility other than as set forth in subpart (b) of this
definition.

          “Person” shall mean any individual, sole proprietorship, partnership, joint venture,
unincorporated organization, corporation, limited liability company, institution, trust, estate,
government or other agency or political subdivision thereof or any other entity.

          “Plan” shall mean any employee pension benefit plan (as such term is defined in section 3 of
ERISA) which is or has been established or maintained, or to which contributions are or have been
made, by the Company or any ERISA Affiliate.

          “Primary Credit Facility” shall mean the $400 million unsecured multicurrency credit facility
pursuant to the terms and conditions of that certain credit agreement dated as of July 13, 2007, by
the Company and the Banks (as defined in therein) with KeyBank National Association and J.P. Morgan
Securities Inc. as co-lead arrangers, as amended, supplemented, restated, extended, refinanced,
replaced or otherwise modified from time to time.

          “Priority Indebtedness” shall mean, without duplication, the sum of (a) all Indebtedness of
Subsidiaries permitted by paragraph 6B(ix) and (b) all Indebtedness of the Company secured by any
Liens permitted by paragraph 6C(vii).

          “Purchasers” shall mean with respect to any Accepted Notes, the NYLIM Affiliate(s) which are
purchasing such Accepted Notes.

          “Receivables Related Assets” shall mean accounts receivable, instruments, chattel paper,
obligations, general intangibles and other similar assets, in each case relating to receivables
subject to the Permitted Receivables Facility, including interests in merchandise or goods, the
sale or lease of which gave rise to such receivables, related contractual rights, guaranties,
insurance proceeds, collections and proceeds of all of the foregoing.

          “Receivables Subsidiary” shall mean a Wholly-Owned Subsidiary of the Company that is
established as a “bankruptcy remote” Subsidiary for the sole purpose of acquiring accounts
receivable under the Permitted Receivables Facility and that shall not engage in any activities
other than in connection with the Permitted Receivables Facility.

          “Reportable Event” shall mean a reportable event as that term is defined in Title IV of ERISA,
except actions of general applicability by the Secretary of Labor under Section 110 of such Act.

          “Request for Purchase” shall have the meaning given in paragraph 2B(3) hereof.

          “Required Holder(s)” shall mean the holder or holders of more than 50% of the aggregate
principal amount of the Notes or, if the term is expressly used with respect to a Series of Notes,
of such Series of Notes from time to time outstanding.

38

 

          “Rescheduled Closing Day” shall have the meaning given in paragraph 2B(7) hereof.

          “Responsible Officer” shall mean the chief executive officer, chief operating officer, chief
financial officer or chief accounting officer of the Company or any other officer of the Company
involved principally in its financial administration or its controllership function.

          “Restricted Payment” shall mean, with respect to the Company or any Subsidiary, (i) any
Capital Distribution, or (ii) any amount paid by such Company in repayment, redemption, retirement,
repurchase, direct or indirect, of any Subordinated Indebtedness.

          “Restrictive Covenant” shall mean any debt leverage ratio covenant, interest coverage ratio
covenant or other affirmative or negative covenant or similar restriction in the Primary Credit
Facility applicable to the Company or any Subsidiary (regardless of whether such provision is
labeled or otherwise characterized as a covenant), and including the definitions of any defined
terms used therein.

          “S & P” shall mean Standard & Poor’s Ratings Group, a division of McGraw-Hill, Inc., or any
successor to such company.

          “SEC” shall mean the United States Securities Exchange Commission.

          “Securities Act” shall mean the Securities Act of 1933, as amended.

          “Series” shall have the meaning given in paragraph 1B hereof.

          “Share Repurchase” shall mean the purchase, repurchase, redemption or other acquisition by the
Company from any Person of any capital stock or other equity interest of the Company.

          “Shelf Notes” shall have the meaning given in paragraph 1A hereof.

          “Significant Holder” shall mean (i) New York Life and any New York Life Affilliate which is a
holder of Notes, (ii) each Purchaser, so long as such Purchaser or any of its Affiliates shall
hold (or be committed under this Agreement to purchase) any Notes having an aggregate principal
amount of not less than Fifty Million Dollars, or (iii) any other Person which, together with its
Affiliates, is the holder of at least Fifty Million Dollars of the aggregate principal amount of
the Notes of any Series from time to time outstanding.

          “Subordinated”, as applied to Indebtedness, shall mean that the Indebtedness has been
subordinated (by written terms or written agreement being, in either case, in form and substance
satisfactory to NYLIM and the Required Holders) in favor of the prior payment in full of the
obligations of the Company and its Subsidiaries under this Agreement, the Notes and the other
Transaction Documents.

          “Subsidiary” of the Company or any of its Subsidiaries shall mean (i) a corporation more than
fifty percent (50%) of the Voting Power of which is owned, directly or indirectly, by the Company
or by one or more other Subsidiaries of the Company or by the

39

 

Company and one or more Subsidiaries of the Company, (ii) a partnership or limited liability
company of which the Company, one or more other Subsidiaries of the Company or the Company and
one or more Subsidiaries of the Company, directly or indirectly, is a general partner or managing
member, as the case may be, or otherwise has the power to direct the policies, management and
affairs thereof, or (iii) any other Person (other than a corporation) in which the Company, one or
more other Subsidiaries of the Company or the Company and one or more Subsidiaries of the Company,
directly or indirectly, has at least a majority interest in the Voting Power or the power to direct
the policies, management and affairs thereof.

          “Transaction Documents” shall mean this Agreement, the Notes, any Guaranty Agreement, any
Confirmation of Guaranty Agreement and any other agreements, documents, writings or instruments now
or hereafter executed or deemed by the Company or any Subsidiary in connection with this Agreement.

          “Transferee” shall mean any direct or indirect transferee of all or any part of any Note
purchased by any Purchaser under this Agreement.

          “Total Indebtedness” shall mean, at any time, on a Consolidated basis, all Indebtedness of the
Company, including, but not limited to, current, long-term and Subordinated Indebtedness, if any,
and all Indebtedness under the Permitted Receivables Facility.

          “2008 Note Purchase Agreement” shall mean the Note Purchase and Private Shelf Agreement, dated
as of February 22, 2008, pursuant to which the Company issued and sold Fifty Million Dollars
($50,000,000) in aggregate principal amount of its 4.98% Series A Senior Notes due February 22,
2013.

          “USA Patriot Act” shall mean United States Public Law 107-56, Uniting and Strengthening
America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT
ACT) Act of 2001, as amended from time to time, and the rules and regulations promulgated
thereunder from time to time in effect.

          “Voting Power” shall mean, with respect to any Person, the exclusive ability to control,
through the ownership of shares of capital stock, partnership interests, membership interests or
otherwise, the election of members of the board of directors or other similar governing body of
such Person, and the holding of a designated percentage of Voting Power of a Person means the
ownership of shares of capital stock, partnership interests, membership interests or other
interests of such Person sufficient to control exclusively the election of that percentage of the
members of the board of directors or similar governing body of such Person.

          “Voting Stock” shall mean, with respect to any corporation, any shares of stock of such
corporation whose holders are entitled under ordinary circumstances to vote for the election of
directors of such corporation (irrespective of whether at the time stock of any other class or
classes shall have or might have voting power by reason of the happening of any contingency).

          “Welfare Plan” shall mean an ERISA Plan that is a “welfare plan” within the meaning of ERISA
Section 3 (l).

40

 

          “Wholly-Owned Subsidiary” shall mean, with respect to any Person, any corporation, limited
liability company or other entity, except for director’s qualifying shares or shares required to be
owned individually due to country specific regulations regarding ownership or control of the
organization or operation of such entity, all of the securities or other ownership interest of
which having ordinary voting power to elect a majority of the board of directors, or other persons
performing similar functions, are at the time directly or indirectly owned by such Person.

     10C. Accounting and Legal Principles, Terms and Determinations. All references in this
Agreement to “generally accepted accounting principles” or “GAAP” shall be deemed to refer to
generally accepted accounting principles in effect in the United States at the time of application
thereof. Unless otherwise specified herein, all accounting terms used herein shall be interpreted,
all determinations with respect to accounting matters hereunder shall be made, and all unaudited
consolidated financial statements and certificates and reports as to financial matters required to
be furnished hereunder shall be prepared, in accordance with generally accepted accounting
principles applied on a basis consistent with the most recent audited consolidated financial
statements of the Company and its Subsidiaries delivered pursuant to clause (ii) of paragraph 5A
or, if no such statements have been so delivered, the most recent audited financial statements
referred to in clause (i) of paragraph 8B. Any reference herein to any specific citation, section
or form of law, statute, rule or regulation shall refer to such new, replacement or analogous
citation, section or form should such citation, section or form be modified, amended or replaced.

     11. MISCELLANEOUS.

     11A. Note Payments. The Company agrees that, so long as any Purchaser shall hold any Note, it
will make payments of principal of, interest on, and any Yield-Maintenance Amount payable with
respect to, such Note, which comply with the terms of this Agreement, by wire transfer of
immediately available funds for credit (not later than 12:00 noon, New York City time, on the date
due) to (i) such Purchaser’s account or accounts specified in the Purchaser Schedule attached
hereto in the case of any Series A Note, (ii) such Purchaser’s account or accounts specified in the
Confirmation of Acceptance with respect to such Note in the case of any Shelf Note or (iii) such
other account or accounts in the United States as such Purchaser may from time to time designate in
writing, notwithstanding any contrary provision herein or in any Note with respect to the place of
payment. Each Purchaser agrees that, before disposing of any Note, such Purchaser will make a
notation thereon (or on a schedule attached thereto) of all principal payments previously made
thereon and of the date to which interest thereon has been paid. The Company agrees to afford the
benefits of this paragraph 11A to any Transferee which shall have made the same agreement as each
Purchaser has made in this paragraph 11A. No holder shall be required to present or surrender any
Note or make any notation thereon, except that upon the written request of the Company made
concurrently with or reasonably promptly after the payment or prepayment in full of any Note, the
applicable holder shall surrender such Note for cancellation, reasonably promptly after such
request, to the Company at its principal office.

     11B. Expenses. Whether or not the transactions contemplated hereby shall be consummated, the
Company shall pay, and save NYLIM, each Purchaser and any Transferee

41

 

harmless against liability for
the payment of the following out-of-pocket expenses arising in connection with such transactions:

     (i) (a) all stamp and documentary taxes and similar charges, (b) costs of obtaining a
private placement number from Standard and Poor’s Ratings Group for the Notes and (c) fees
and expenses of brokers, agents, dealers, investment banks or other intermediaries or
placement agents, in each case as a result of the execution and delivery of this Agreement
or the issuance of the Notes;

     (ii) document production and duplication charges and the fees (not to exceed
Twenty-Five Thousand Dollars ($25,000) in the case of clause (a)) and expenses of any
special counsel engaged by such Purchaser or such Transferee in connection (a) any
transaction contemplated by this Agreement and (b) with any subsequent proposed waiver,
amendment or modification of, or proposed consent under, this Agreement, whether or not such
proposed waiver, amendment, modification or consent shall be effected or granted;

     (iii) the reasonable costs and expenses, including attorneys’ and financial advisory
fees, incurred by such Purchaser or such Transferee in enforcing (or determining whether or
how to enforce) any rights under this Agreement or the Notes or in responding to any
subpoena or other legal process or informal investigative demand issued in connection with
this Agreement or the transactions contemplated hereby or by reason of your or such
Transferee’s having acquired any Note, including without limitation costs and expenses
incurred in any workout, restructuring or renegotiation proceeding or bankruptcy case; and

     (iv) any judgment, liability, claim, order, decree, cost, fee, expense, action or
obligation resulting from the consummation of the transactions contemplated hereby,
including the use of the proceeds of the Notes by the Company.

     The Company also will promptly pay or reimburse each Purchaser or holder of a Note (upon
demand, in accordance with each such Purchaser’s or holder’s written instruction) for all fees and
costs paid or payable by such Purchaser or holder to the Securities Valuation Office of the
National Association of Insurance Commissioners in connection with the initial filing of this
Agreement and all related documents and financial information, and all subsequent annual and
interim filings of documents and financial information related to this Agreement, with such
Securities Valuation Office or any successor organization acceding to the authority thereof.

     The obligations of the Company under this paragraph 11B shall survive the transfer of any Note
or portion thereof or interest therein by any Purchaser or any Transferee and the payment of any
Note.

     11C. Consent to Amendments. This Agreement may be amended, and the Company may take any
action herein prohibited, or omit to perform any act herein required to be performed by it, if the
Company
shall obtain the written consent to such amendment, action or omission to act, of the Required
Holder(s) except that, (i) with the written consent of the holders of all Notes of a particular
Series, and, if an Event of Default shall have occurred and be

42

 

continuing, of the holders of all
Notes of all Series at the time outstanding (and not without such written consents), the Notes of
such Series may be amended or the provisions thereof waived to change the maturity thereof, to
change or affect the principal thereof, or to change or affect the rate, method of computation or
time of payment of interest on or any Yield-Maintenance Amount payable with respect to the Notes of
such Series, (ii) without the written consent of the holder or holders of all Notes at the time
outstanding, no amendment to or waiver of the provisions of this Agreement shall change or affect
the provisions of paragraph 7A or this paragraph 11C insofar as such provisions relate to
proportions of the principal amount of the Notes of any Series, or the rights of any individual
holder of Notes, required with respect to any declaration of Notes to be due and payable or with
respect to any consent, amendment, waiver or declaration, (iii) with the written consent of NYLIM
(and not without the written consent of NYLIM) the provisions of paragraph 2A may be amended or
waived (except insofar as any such amendment or waiver would affect any rights or obligations with
respect to the purchase and sale of Notes which shall have become Accepted Notes prior to such
amendment or waiver), and (iv) with the written consent of all of the Purchasers which shall have
become obligated to purchase Accepted Notes of any Series (and not without the written consent of
all such Purchasers), any of the provisions of paragraphs 2A and 3 may be amended or waived insofar
as such amendment or waiver would affect only rights or obligations with respect to the purchase
and sale of the Accepted Notes of such Series or the terms and provisions of such Accepted Notes.
Each holder of any Note at the time or thereafter outstanding shall be bound by any consent
authorized by this paragraph 11C, whether or not such Note shall have been marked to indicate such
consent, but any Notes issued thereafter may bear a notation referring to any such consent. No
course of dealing between the Company and the holder of any Note nor any delay in exercising any
rights hereunder or under any Note shall operate as a waiver of any rights of any holder of any
Note. Without limiting the generality of the foregoing, no negotiations or discussions in which
NYLIM or any holder of any Note may engage regarding any possible amendments, consents or waivers
with respect to this Agreement or the Notes shall constitute a waiver of any Default or Event of
Default, any term of this Agreement or any Note or any rights of NYLIM or any such holder under
this Agreement or the Notes. As used herein and in the Notes, the term “this Agreement” and
references thereto shall mean this Agreement as it may from time to time be amended or
supplemented.

     11D. Form, Registration, Transfer and Exchange of Notes; Lost Notes. The Notes are issuable
as registered notes without coupons in denominations of at least $100,000, except as may be
necessary to (i) reflect any principal amount not evenly divisible by $100,000 or (ii) enable the
registration of transfer by a holder of its entire holding of Notes; provided, however, that no
such minimum denomination shall apply to Notes issued upon transfer by any holder of the Notes to
NYLIM or NYLIM Affiliates or to any other entity or group of Affiliates with respect to which the
Notes so issued or transferred shall be managed by a single entity. The Company shall keep at its
principal office a register in which the Company shall provide for the registration of Notes and of
transfers of Notes. Upon surrender for registration of transfer of any Note at the principal
office of the Company, the Company shall, at its expense, execute and deliver one or more new Notes
of like tenor and of a like aggregate principal amount, registered
in the name of such transferee or transferees. At the option of the holder of any Note, such
Note may be exchanged for other Notes of like tenor and of any authorized denominations, of a like
aggregate principal amount, upon surrender of the Note to be exchanged at the principal office of

43

 

the Company. Whenever any Notes are so surrendered for exchange, the Company shall, at its
expense, execute and deliver the Notes which the holder making the exchange is entitled to receive.
Every Note surrendered for registration of transfer or exchange shall be duly endorsed, or be
accompanied by a written instrument of transfer duly executed, by the holder of such Note or such
holder’s attorney duly authorized in writing. Any Note or Notes issued in exchange for any Note or
upon transfer thereof shall carry the rights to unpaid interest and interest to accrue which were
carried by the Note so exchanged or transferred, so that neither gain nor loss of interest shall
result from any such transfer or exchange. Upon receipt of written notice from the holder of any
Note of the loss, theft, destruction or mutilation of such Note and, in the case of any such loss,
theft or destruction, upon receipt of such holder’s unsecured indemnity agreement, or in the case
of any such mutilation upon surrender and cancellation of such Note, the Company will make and
deliver a new Note, of like tenor, in lieu of the lost, stolen, destroyed or mutilated Note.

     11E. Persons Deemed Owners; Participations. Prior to due presentment for registration of
transfer, the Company may treat the Person in whose name any Note is registered as the owner and
holder of such Note for the purpose of receiving payment of principal of, interest on and any
Yield-Maintenance Amount payable with respect to such Note and for all other purposes whatsoever,
whether or not such Note shall be overdue, and the Company shall not be affected by notice to the
contrary. Subject to the preceding sentence, the holder of any Note may from time to time grant
participations in all or any part of such Note to any Person on such terms and conditions as may be
determined by such holder in its sole and absolute discretion.

     11F. Survival of Representations and Warranties; Entire Agreement. All representations and
warranties contained herein or made in writing by or on behalf of the Company in connection
herewith shall survive the execution and delivery of this Agreement and the Notes, the transfer by
any Purchaser of any Note or portion thereof or interest therein and the payment of any Note, and
may be relied upon by any Transferee, regardless of any investigation made at any time by or on
behalf of any Purchaser or any Transferee. Subject to the preceding sentence, this Agreement and
the Notes embody the entire agreement and understanding between the Purchasers and the Company with
respect to the subject matter hereof and supersede all prior agreements and understandings relating
to such subject matter.

     11G. Successors and Assigns. All covenants and other agreements in this Agreement by or on
behalf of any of the parties hereto shall bind and inure to the benefit of the respective
successors and assigns of the parties hereto (including, without limitation, any Transferee)
whether so expressed or not.

     11H. Independence of Covenants. All covenants hereunder shall be given independent effect so
that if a particular action or condition is prohibited by any one of such covenants, the fact that
it would be permitted by an exception to, or otherwise be in compliance within the limitations of,
another covenant shall not
(i) avoid the occurrence of a Default or Event of Default if such action is taken or such
condition exists or (ii) in any way prejudice an attempt by the holder of any Note to prohibit
through equitable action or otherwise the taking of any action by the Company or any Subsidiary
which would result in a Default or Event of Default.

44

 

     11I. Notices. All written communications provided for hereunder (other than communications
provided for under paragraph 2) shall be sent by first class mail or nationwide overnight delivery
service (with charges prepaid) and (i) if to NYLIM or any Purchaser, addressed to NYLIM or such
Purchaser at the address specified for such communications in the Purchaser Schedule attached to
the applicable Confirmation of Acceptance or at such other address as NYLIM or such Purchaser shall
have specified to the Company in writing, (ii) if to any other holder of any Note, addressed to
such other holder at such address as such other holder shall have specified to the Company in
writing or, if any such holder shall not have so specified an address to the Company, then
addressed to such holder in care of the last holder of such Note which shall have so specified an
address to the Company and (iii) if to the Company, addressed to it at Nordson Corporation, 28601
Clemens Road, Westlake, Ohio 44145, Attention: Chief Financial Officer or at such other address as
the Company shall have specified to the holder of each Note in writing, provided, however, that any
such communication to the Company may also, at the option of the Person sending such communication,
be delivered by any other means either to the Company at its address specified above or to any
Authorized Officer of the Company. Any communication pursuant to paragraph 2 shall be made by the
method specified for such communication in paragraph 2, and shall be effective to create any rights
or obligations under this Agreement only if, in the case of a telephone communication, an
Authorized Officer of the party conveying the information and of the party receiving the
information are parties to the telephone call, and in the case of a facsimile transmission
communication, the communication is signed by an Authorized Officer of the party conveying the
information, addressed to the attention of an Authorized Officer of the party receiving the
information, and in fact received at the facsimile terminal the number of which is listed for the
party receiving the communication in the Information Schedule or at such other facsimile terminal
as the party receiving the information shall have specified in writing to the party sending such
information.

     11J. Payments Due on Non-Business Days. Anything in this Agreement or the Notes to the
contrary notwithstanding, any payment of principal of, interest on, or Yield-Maintenance Amount
payable with respect to, any Note that is due on a date other than a Business Day shall be made on
the next succeeding Business Day without including the additional days elapsed in the computation
of the interest payable on such next succeeding Business Day.

     11K. Satisfaction Requirement. If any agreement, certificate or other writing, or any action
taken or to be taken, is by the terms of this Agreement required to be satisfactory to any
Purchaser, to any holder of Notes or to the Required Holder(s), the determination of such
satisfaction shall be made by such Purchaser, such holder or the Required Holder(s), as the case
may be, in the sole and exclusive judgment (exercised in good faith) of the Person or Persons
making such determination.

     11L. GOVERNING LAW. THIS AGREEMENT SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, AND
THE RIGHTS OF THE PARTIES SHALL BE GOVERNED BY, THE LAW OF THE STATE OF NEW YORK (EXCLUDING ANY
CONFLICTS OF LAW RULES WHICH WOULD OTHERWISE CAUSE THIS AGREEMENT TO BE CONSTRUED OR ENFORCED IN
ACCORDANCE WITH, OR THE RIGHTS OF THE PARTIES TO BE GOVERNED BY, THE LAWS OF ANY OTHER
JURISDICTION).

45

 

     11M. SUBMISSION TO JURISDICTION; WAIVER OF JURY TRIAL. ANY LEGAL ACTION OR PROCEEDING WITH
RESPECT TO THIS AGREEMENT OR THE NOTES MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK IN NEW
YORK COUNTY, OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK AND, BY EXECUTION AND
DELIVERY OF THIS AGREEMENT, THE COMPANY HEREBY IRREVOCABLY ACCEPTS, UNCONDITIONALLY, THE
JURISDICTION OF THE AFORESAID COURTS WITH RESPECT TO ANY SUCH ACTION OR PROCEEDING. THE COMPANY
FURTHER IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS OUT OF ANY OF THE AFOREMENTIONED COURTS IN
ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF COPIES THEREOF BY REGISTERED OR CERTIFIED MAIL,
POSTAGE PREPAID, TO IT AT ITS ADDRESS PROVIDED IN PARAGRAPH 11I, SUCH SERVICE TO BECOME EFFECTIVE
UPON RECEIPT. THE COMPANY AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE
CONCLUSIVE AND MAY BE ENFORCED IN ANY OTHER JURISDICTION BY SUIT ON SUCH JUDGMENT OR IN ANY OTHER
MANNER PROVIDED BY LAW. NOTHING HEREIN SHALL AFFECT THE RIGHT OF ANY HOLDER OF A NOTE TO SERVE
PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE PROCEED
AGAINST THE COMPANY IN ANY OTHER JURISDICTION. THE COMPANY HEREBY IRREVOCABLY WAIVES ANY OBJECTION
WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY OF THE AFORESAID ACTIONS OR
PROCEEDINGS ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT OR THE NOTES BROUGHT IN ANY OF THE
AFORESAID COURTS AND HEREBY FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY SUCH
COURT THAT ANY SUCH ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN
INCONVENIENT FORUM. TO THE EXTENT THAT THE COMPANY HAS OR MAY HEREAFTER ACQUIRE IMMUNITY FROM
JURISDICTION OF ANY COURT OR FROM ANY LEGAL PROCESS (WHETHER THROUGH SERVICE OF NOTICE, ATTACHMENT
PRIOR TO JUDGMENT, ATTACHMENT IN AID OF EXECUTION, EXECUTION OR OTHERWISE WITH RESPECT TO ITSELF OR
ITS PROPERTY), THE COMPANY HEREBY IRREVOCABLY WAIVES SUCH IMMUNITY IN RESPECT OF ITS OBLIGATIONS
UNDER THIS AGREEMENT OR THE NOTES. THE COMPANY, NYLIM AND EACH PURCHASER HEREBY IRREVOCABLY WAIVES
ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF
OR RELATING TO THIS AGREEMENT, THE NOTES OR THE TRANSACTIONS CONTEMPLATED THEREBY.

     11N. Severability. Any provision of this Agreement which is prohibited or unenforceable in
any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition
or unenforceability without invalidating the remaining provisions hereof, and any such prohibition
or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision
in any other jurisdiction.

     11O. Descriptive Headings; Advice of Counsel; Interpretation; Time of the Essence. The
descriptive headings of the several paragraphs of this Agreement are inserted for

46

 

convenience only
and do not constitute a part of this Agreement. Each party to this Agreement represents to the
other parties to this Agreement that such party has been represented by counsel in connection with
this Agreement and the Notes, that such party has discussed this Agreement and the Notes with its
counsel and that any and all issues with respect to this Agreement and the Notes have been resolved
as set forth herein and therein. No provision of this Agreement or the Notes shall be construed
against or interpreted to the disadvantage of any party hereto by any court or other governmental
or judicial authority by reason of such party having or being deemed to have structured, drafted or
dictated such provision. Time is of the essence in the performance of this Agreement and the
Notes.

     11P. Counterparts; Facsimile or Electronic Signatures. This Agreement may be executed in any
number of counterparts (or counterpart signature pages), each of which counterparts shall be an
original, but all of which together shall constitute one instrument. Delivery of an executed
counterpart of a signature page to this Agreement by facsimile or electronic transmission shall be
effective as delivery of a manually executed counterpart of this Agreement.

     11Q. Severalty of Obligations. The sales of Notes to the Purchasers are to be several sales,
and the obligations of NYLIM and the Purchasers under this Agreement are several obligations. No
failure by NYLIM or any Purchaser to perform its obligations under this Agreement shall relieve any
other Purchaser or the Company of any of its obligations hereunder, and neither NYLIM nor any
Purchaser shall be responsible for the obligations of, or any action taken or omitted by, any other
such Person hereunder.

     11R. Independent Investigation. Each Purchaser represents to and agrees with each other
Purchaser that it has made its own independent investigation of the condition (financial and
otherwise), prospects and affairs of the Company and its Subsidiaries in connection with its
purchase of the Notes hereunder and has made and shall continue to make its own appraisal of the
creditworthiness of the Company. No holder of Notes shall have any duties or responsibility to any
other holder of Notes, either initially or on a continuing basis, to make any such investigation or
appraisal or to provide any credit or other information with respect thereto. No holder of Notes
is acting as agent or in any other fiduciary capacity on behalf of any other holder of Notes.

     11S. Transaction References. The Company agrees that NYLIM and its Affiliates may (a) refer
to its role establishing the Facility, as well as the identity of the Company and the maximum
aggregate principal amount of the Notes and the date on which the Facility was established, on its
internet site or in marketing materials, press releases, published “tombstone” announcements or any
other print or electronic medium and (b) display the Company’s corporate logo in conjunction with
any such reference.

     11T. Directly or Indirectly. Where any provision in this Agreement refers to actions to be
taken by any Person, or which such Person is prohibited from taking, such provision shall be
applicable whether the action in question is taken directly or indirectly by such Person.

     11U. Binding Agreement. When this Agreement is executed and delivered by the Company and
NYLIM it shall become a binding agreement between the Company, on one hand,

47

 

and NYLIM on the other
hand. This Agreement shall also inure to the benefit of each Purchaser which shall have executed
and delivered a Confirmation of Acceptance and each such Purchaser shall be bound by this Agreement
to the extent provided in such Confirmation of Acceptance.

	 	 	 	 	 
	 	Very truly yours,

NORDSON CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

48

 

	 	 	 	 	 

The foregoing Agreement is

hereby accepted as of the

date first above written.

NEW YORK LIFE INVESTMENT MANAGEMENT LLC

	 	 	 	 	 
	 	 	 
	 	By:  	 	 
	 	 	Chris Carey, Managing Director 	 
	 	 	 	 
	 

49

 

INFORMATION SCHEDULE

Authorized Officers for                  and                  Affiliates

Additional Authorized Officers for the Company

None initially.

1

 

EXHIBIT A

[FORM OF SHELF NOTE]

NORDSON CORPORATION

___% SENIOR SERIES ___ NOTE DUE _____________

No. 

ORIGINAL PRINCIPAL AMOUNT:

ORIGINAL ISSUE DATE:

INTEREST RATE:

INTEREST PAYMENT DATES:

FINAL MATURITY DATE:

PRINCIPAL PREPAYMENT DATES AND AMOUNTS:

PPN______________

     FOR VALUE RECEIVED, the undersigned, NORDSON CORPORATION, a corporation organized and existing
under the laws of the State of Ohio (herein called the “Company”), hereby promises to pay to
________________________, or registered assigns, the principal sum of ____________________ DOLLARS
[on the Final Maturity Date specified above] [, payable on the Principal Prepayment Dates and in
the amounts specified above, and on the Final Maturity Date specified above in an amount equal to
the unpaid balance of the principal hereof,] with interest (computed on the basis of a 360-day
year—30-day month) (a) on the unpaid balance thereof at the Interest Rate per annum specified
above (or, during any period when an Event of Default shall be in existence, at the election of the
Required Holder(s) of this Series of Notes at the Default Rate (as defined below)), from the date
hereof, payable on each Interest Payment Date specified above and on the Final Maturity Date
specified above, commencing with the Interest Payment Date next succeeding the date hereof, until
the principal hereof shall have become due and payable, and (b) on any overdue payment (including
any overdue prepayment) of principal, any overdue payment of Yield Maintenance Amount and, to the
extent permitted by applicable law, any overdue payment of interest, payable on each Interest
Payment Date as aforesaid (or, at the option of the registered holder hereof, on demand), at a rate
per annum from time to time equal to the Default Rate. The “Default Rate” shall mean a rate per
annum from time to time equal to the lesser of (i) the maximum rate permitted by applicable law,
and (ii) the greater of (a) 2.00% over the Interest Rate specified above or (b) 2.00% over the rate
of interest publicly announced by JPMorgan Chase Bank, National Association, from time to time in
New York City as its Prime Rate.

     Payments of principal of, interest on and any Yield Maintenance Amount payable with respect to
this Note are to be made at the main office of JPMorgan Chase Bank, National Association, in New
York City or at such other place as the holder hereof shall designate to the Company in writing, in
lawful money of the United States of America.

     This Note is one of a series of Senior Notes (herein called the “Notes”) issued pursuant to a
Note Purchase and Private Shelf Agreement, dated as of June 30, 2011 (herein called the

A-1

 

“Agreement”), between the Company, on the one hand, and New York Life Investment Management
LLC, the Purchasers executing and delivering a Confirmation of Acceptance each NYLIM Affiliate
which becomes party thereto, on the other hand, and is entitled to the benefits thereof.

     This Note is a registered Note and, as provided in the Agreement, upon surrender of this Note
for registration of transfer, duly endorsed, or accompanied by a written instrument of transfer
duly executed, by the registered holder hereof or such holder’s attorney duly authorized in
writing, a new Note for a like principal amount will be issued to, and registered in the name of,
the transferee. Prior to due presentment for registration of transfer, the Company may treat the
person in whose name this Note is registered as the owner hereof for the purpose of receiving
payment and for all other purposes, and the Company shall not be affected by any notice to the
contrary.

     The Company agrees to make required prepayments of principal on the dates and in the amounts
specified above. This Note is also subject to optional prepayment, in whole or from time to time
in part, on the terms specified in the Agreement.

     The Company and any and all endorsers, guarantors and sureties severally waive grace, demand,
presentment for payment, notice of dishonor or default, notice of intent to accelerate, notice of
acceleration (except to the extent required in the Agreement), protest and diligence in collecting
in connection with this Note, whether now or hereafter required by applicable law.

     In case an Event of Default shall occur and be continuing, the principal of this Note may be
declared or otherwise become due and payable in the manner and with the effect provided in the
Agreement.

     Capitalized terms used herein which are defined in the Agreement and not otherwise defined
herein shall have the meanings as defined in the Agreement.

     THIS NOTE IS INTENDED TO BE PERFORMED IN THE STATE OF NEW YORK AND SHALL BE CONSTRUED AND
ENFORCED IN ACCORDANCE WITH THE LAW OF SUCH STATE (EXCLUDING ANY CONFLICTS OF LAW RULES WHICH WOULD
OTHERWISE CAUSE THIS NOTE TO BE CONSTRUED OR ENFORCED IN ACCORDANCE WITH THE LAWS OF ANY OTHER
JURISDICTION).

	 	 	 	 	 
	 	NORDSON CORPORATION

 	 
	 	By:  	 	 
	 	 	Title: 	 	 
	 	 	 	 

A-2

 

	 	 	 	 	 

EXHIBIT B

[FORM OF DISBURSEMENT DIRECTION LETTER]

[On Company Letterhead — place on one page]

[DATE]

[Names and Addresses of

Purchasers]

          Re: _______% Series ______ Senior Notes due _______________ (the “Notes”)

Ladies and Gentlemen:

          Reference is made to that certain Note Purchase and Private Shelf Agreement (the “Note
Agreement”), dated June 30, 2011, between Nordson Corporation, an Ohio corporation (the “Company”),
New York Life Investment Management LLC, and you. Capitalized terms used herein shall have the
meanings assigned to such terms in the Note Agreement.

          You are hereby irrevocably authorized and directed to disburse the $___,000,000 purchase price
of the Notes by wire transfer of immediately available funds to [bank name and address], ABA
#______________, for credit to the account of Nordson Corporation, account no. ____________.

          Disbursement when so made shall constitute payment in full of the purchase price of the Notes
and shall be without liability of any kind whatsoever to you.

	 	 	 	 	 
	 	Very truly yours,

NORDSON CORPORATION

 	 
	 	By:  	 	 
	 	 	Title: 	 	 
	 	 	 	 

B-1

 

	 	 	 	 	 

EXHIBIT C

[FORM OF REQUEST FOR PURCHASE]

NORDSON CORPORATION

REQUEST FOR PURCHASE

          Reference is made to the Note Purchase and Private Shelf Agreement (the “Agreement”), dated as
of June 30, 2011, between Nordson Corporation, an Ohio corporation (the “Company”), on the one
hand, and New York Life Investment Management LLC (“NYLIM”), and each NYLIM Affiliate which becomes
party thereto, on the other hand. Capitalized terms used and not otherwise defined herein shall
have the respective meanings specified in the Agreement.

          Pursuant to Paragraph 2C of the Agreement, the Company hereby makes the following Request for
Purchase:

	 	1.	 	Aggregate principal amount of the Notes covered hereby (the “Notes”)
$__________1
	 
	 	2.	 	Individual specifications of the Notes:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Principal	 	 
	 	 	 	 	Final	 	Prepayment	 	Interest
	Principal	 	Maturity	 	Dates and	 	Payment
	Amount	 	Date	 	Amounts	 	Period2

	 	3.	 	Use of proceeds of the Notes:
	 
	 	4.	 	Proposed day for the closing of the purchase and sale of the Notes:
	 
	 	5.	 	The purchase price of the Notes is to be transferred to:

	 	3.	 	Use of proceeds of the Notes:
	 
	 	4.	 	Proposed day for the closing of the purchase and sale of the Notes:
	 
	 	5.	 	The purchase price of the Notes is to be transferred to:

	 	 	 

	Name, Address 

and ABA Routing 

Number of Bank
	 	Number of

Account
	 
	 	 
	 
	 

 

			
	1	 	Minimum principal amount of $10,000,000
	 
	2	 	Specify quarterly or semiannually in arrears

C-1

 

	 	6.	 	The Company certifies (a) that the representations and warranties contained in
paragraph 8 of the Agreement are true on and as of the date of this Request for
Purchase, and (b) that there exists on the date of this Request for Purchase no Event
of Default or Default.
	 
	 	7.	 	The Issuance Fee to be paid pursuant to the Agreement will be paid by the
Company on the closing date.

Dated:

	 	 	 	 	 
	 	NORDSON CORPORATION

 	 
	 	By:  	 	 
	 	 	Authorized Officer 	 
	 	 	 	 

C-2

 

	 	 	 	 	 

EXHIBIT D

[FORM OF CONFIRMATION OF ACCEPTANCE]

NORDSON CORPORATION

CONFIRMATION OF ACCEPTANCE

     Reference is made to the Note Purchase and Private Shelf Agreement (the “Agreement”), dated as
of _________, 2011 between Nordson Corporation (the “Company”), on the one hand, and New York Life
Management LLC (“NYLIM”), and each NYLIM Affiliate which becomes party thereto, on the other hand.
All terms used herein that are defined in the Agreement have the respective meanings specified in
the Agreement.

     NYLIM or the NYLIM Affiliate which is named below as a Purchaser of Notes hereby confirms the
representations as to such Notes set forth in paragraph 9 of the Agreement, and agrees to be bound
by the provisions of paragraphs 2E and 2G of the Agreement relating to the purchase and sale of
such Notes and by the provisions of the second sentence of paragraph 11A of the Agreement.

     Pursuant to paragraph 2E of the Agreement, an Acceptance with respect to the following
Accepted Notes is hereby confirmed:

	 	 	 	 	 

	I.	 	Accepted Notes: Aggregate principal amount $__________________
	 

	 	(A)
	 	(a) Name of Purchaser:
	 

	 	 	 	(b) Principal amount:
	 

	 	 	 	(c) Final maturity date:
	 

	 	 	 	(d) Principal prepayment dates and amounts:
	 

	 	 	 	(e) Interest rate:
	 

	 	 	 	(f) Interest payment period:
	 

	 	 	 	(g) Payment and notice instructions: As set forth on attached Purchaser Schedule
	 
	 	 	 	 
	 

	 	(B)
	 	(a) Name of Purchaser:
	 

	 	 	 	(b) Principal amount:
	 

	 	 	 	(c) Final maturity date:
	 

	 	 	 	(d) Principal prepayment dates and amounts:
	 

	 	 	 	(e) Interest rate:
	 

	 	 	 	(f) Interest payment period:
	 

	 	 	 	(g) Payment and notice instructions: As set forth on attached Purchaser Schedule
	 
	 	 	 	 
	 	 	[(C), (D) same information as above.]
	 
	 	 	 	 
	II.	 	Closing Day:
	 
	 	 	 	 
	III.	 	Issuance Fee:

Dated:                     

D-1

 

	 	 	 	 	 
	 	NORDSON CORPORATION

 	 
	 	By:  	 	 
	 	 	Title: 
	 
	 	 	 	 
	 
	 	[NYLIM AFFILIATE]

 	 
	 	By:  	 	 
	 	 	Vice President 	 
	 	 	 	 

D-2

 

	 	 	 	 	 

EXHIBIT E

[FORM OF OPINION OF COMPANY’S COUNSEL — SHELF NOTES]

[Letterhead of Taft Stettinius & Hollister LLP]

[Date of Closing]

[List Purchasers]

__________________________

__________________________

__________________________

__________________________

Ladies and Gentlemen:

     We have acted as counsel for Nordson Corporation (the “Company”) in connection with the Note
Purchase and Private Shelf Agreement, dated as of June 30, 2011, between the Company, on one hand,
and New York Life Investment Management LLC, and each NYLIM Affiliate which becomes a party
thereto, on the other hand (the “Note Agreement”), pursuant to which the Company has issued to you
today the _____% Series ___ Senior Notes due __________, ____ of the Company in the aggregate
principal amount of $___________ (the “Notes”). All terms used herein that are defined in the Note
Agreement have the respective meanings specified in the Note Agreement. This letter is being
delivered to you in satisfaction of the condition set forth in paragraph 3C of the Note Agreement
and with the understanding that you are purchasing the Notes in reliance on the opinions expressed
herein.

     In this connection, we have examined such certificates of public officials, certificates of
officers of the Company and copies certified to our satisfaction of corporate documents and records
of the Company and of other papers, and have made such other investigations, as we have deemed
relevant and necessary as a basis for our opinion hereinafter set forth. We have relied upon such
certificates of public officials and of officers of the Company with respect to the accuracy of
material factual matters contained therein which were not independently established; nothing,
however, has come to our attention to cause us to believe that any such factual matters are untrue.
With respect to the opinion expressed in paragraph 3 below, we have also relied upon the
representation made by each of you in paragraph 9A of the Note Agreement.

     Based on the foregoing, it is our opinion that:

          1. The Company is a corporation duly organized and validly existing in good standing under the
laws of the State of Ohio. The Company has all requisite corporate power to conduct its business
as currently conducted and as currently proposed to be conducted.

          2. The Company has all requisite corporate power to execute, deliver and perform its
obligations under the Note Agreement and the Notes. The Note Agreement and the Notes have been
duly authorized by all requisite corporate action on the part of the Company and

E-1

 

duly executed and delivered by authorized officers of the Company, and are valid obligations
of the Company, legally binding upon and enforceable against the Company in accordance with their
respective terms, except as such enforceability may be limited by (a) bankruptcy, insolvency,
reorganization or other similar laws affecting the enforcement of creditors’ rights generally and
(b) general principles of equity (regardless of whether such enforceability is considered in a
proceeding in equity or at law).

          3. It is not necessary in connection with the offering, issuance, sale and delivery of the
Notes under the circumstances contemplated by the Note Agreement to register the Notes under the
Securities Act or to qualify an indenture in respect of the Notes under the Trust Indenture Act of
1939, as amended.

          4. The extension, arranging and obtaining of the credit represented by the Notes do not result
in any violation of Regulation T, U or X of the Board of Governors of the Federal Reserve System.

          5. The execution and delivery of the Note Agreement and the Notes, the offering, issuance and
sale of the Notes and fulfillment of and compliance with the respective provisions of the Note
Agreement and the Notes do not conflict with, or result in a breach of the terms, conditions or
provisions of, or constitute a default under, or result in any violation of, or result in the
creation of any Lien upon any of the properties or assets of the Company [or any of its
Subsidiaries] pursuant to, or require any authorization, consent, approval, exemption or other
action by or notice to or filing with any court, administrative or governmental body or other
Person (other than routine filings after the date hereof with the Securities and Exchange
Commission and/or state Blue Sky authorities) pursuant to, the charter or by-laws of the Company
[or any of its Subsidiaries], any applicable law (including any securities or Blue Sky law),
statute, rule or regulation or (insofar as is known to us after having made due inquiry with
respect thereto) any agreement (including, without limitation, any agreement listed in Schedule 8G
to the Note Agreement), instrument, order, judgment or decree to which the Company [or any of its
Subsidiaries] is a party or otherwise subject.

          6. The Company is not (a) an “investment company” or a company “controlled” by an “investment
company” within the meaning of the Investment Company Act of 1940, as amended, or an “investment
adviser” within the meaning of the Investment Advisers Act of 1940, as amended, (b) a “holding
company” of a “public utility company” of an “affiliate” of a “holding company” or of a “subsidiary
company” of a “holding company”, within the meaning of the Public Utility Holding Company Act of
2005, or (c) a “public utility” within the meaning of the Federal Power Act, as amended.

          7. To our knowledge, there are no actions, suits or proceedings pending or threatened against
or affecting the Company or any of its Subsidiaries or any property of the Company or any of its
Subsidiaries in any court or before any arbitrator of any kind or before or by any governmental
authority either (i) with respect to the Note Agreement or the Notes or (ii) that, individually or
in the aggregate, could reasonably be expected to have a Material Adverse Effect.

          [Customary assumptions and qualifications]

E-2

 

     We acknowledge that the Company has requested that this opinion letter be rendered to each of
you and to any Transferee, that this opinion letter is rendered with the intention that each of you
and any Transferee may rely on this opinion letter, and that each of you and any Transferee may
rely on this opinion letter.

	 	 	 	 	 
	 	Very truly yours,

 	 
	 	 	 
	 	 	 
	 	 	 
	 

E-3

 

EXHIBIT F

FORM OF COMPLIANCE CERTIFICATE

NORDSON CORPORATION

For Fiscal Quarter ended __________________

THE UNDERSIGNED HEREBY CERTIFIES THAT:

     (1) I am the duly elected [CEO/CFO/Treasurer] of NORDSON CORPORATION, an Ohio corporation
(“Nordson”);

     (2) I am familiar with the terms of that certain Note Purchase and Private Shelf Agreement,
dated as of June 30, 2011, among Nordson, New York Life Investment Management LLC and the NYLIM
Affiliates (as the same may from time to time be amended, restated or otherwise modified, the
“Agreement”, the terms defined therein being used herein as therein defined), and I have made, or
have caused to be made under my supervision, a review in reasonable detail of the transactions and
condition of Nordson and its Subsidiaries during the accounting period covered by the attached
financial statements;

     (3) The review described in paragraph (2) above did not disclose, and I have no knowledge of,
the existence of any condition or event that constitutes or constituted a Default or Event of
Default, as at the end of the accounting period covered by the attached financial statements or as
of the date of this Certificate;

     (4) Set forth on Attachment I hereto are calculations of the financial covenants set forth in
Section 6A of the Credit Agreement, which calculations show compliance with the terms thereof and a
calculation of Consolidated Total Assets.

     IN WITNESS WHEREOF, I have signed this certificate the ___ day of ___, 2011.

	 	 	 	 	 
	 	NORDSON CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

F-1

 

	 	 	 	 	 

SCHEDULE 8G

AGREEMENTS RESTRICTING DEBT

	1.	 	Primary Credit Facility
	 
	2.	 	Note Purchase and Private Shelf Agreement dated February 22, 2008 by and among the Company,
Prudential Investment Management, Inc., the Initial Purchasers named therein, et al.

8G-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00194-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00194-of-00352.parquet"}]]