Document:

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                                                                     EXHIBIT 4.6

                          AGREEMENT AND PLAN OF MERGER

                                  BY AND AMONG

                           AKAMAI TECHNOLOGIES, INC.,

                          NANTUCKET ACQUISITION CORP.,

                            NINE SYSTEMS CORPORATION

                                       AND

             THE PRINCIPAL STOCKHOLDERS OF NINE SYSTEMS CORPORATION

                                 (NAMED HEREIN)

                                November 17, 2006

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                                TABLE OF CONTENTS
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                                                                                                              PAGE
<S>                                                                                                           <C>
ARTICLE I  THE MERGER.......................................................................................   2
   1.1        The Merger....................................................................................   2
   1.2        The Closing...................................................................................   2
   1.3        Actions at the Closing........................................................................   2
   1.4        Additional Action.............................................................................   2
   1.5        Conversion of Shares..........................................................................   2
   1.6        Dissenting Shares.............................................................................   2
   1.7        Exchange of Shares............................................................................   2
   1.8        Fractional Shares.............................................................................   2
   1.9        Options and Warrants..........................................................................   2
   1.10       Adjustment Before and After the Closing.......................................................   2
   1.11       Escrow Arrangements...........................................................................   2
   1.12       Representative................................................................................   2
   1.13       Certificate of Incorporation and By-laws......................................................   2
   1.14       Directors and Officers of the Surviving Corporation...........................................   2
   1.15       No Further Rights.............................................................................   2
   1.16       Closing of Transfer Books.....................................................................   2
   1.17       Withholding Obligations.......................................................................   2
ARTICLE II  REPRESENTATIONS AND WARRANTIES OF THE COMPANY...................................................   2
   2.1        Organization, Qualification and Corporate Power...............................................   2
   2.2        Capitalization................................................................................   2
   2.3        Authorization.................................................................................   2
   2.4        Noncontravention..............................................................................   2
   2.5        Subsidiaries..................................................................................   2
   2.6        Financial Statements..........................................................................   2
   2.7        Absence of Certain Changes....................................................................   2
   2.8        Undisclosed Liabilities.......................................................................   2
   2.9        Tax Matters...................................................................................   2
   2.10       Assets........................................................................................   2
   2.11       Owned Real Property...........................................................................   2
   2.12       Real Property Leases..........................................................................   2
   2.13       Intellectual Property.........................................................................   2
   2.14       Inventory.....................................................................................   2
   2.15       Contracts.....................................................................................   2
   2.16       Accounts Receivable...........................................................................   2
   2.17       Powers of Attorney............................................................................   2
   2.18       Insurance.....................................................................................   2
   2.19       Litigation....................................................................................   2
   2.20       Warranties....................................................................................   2
   2.21       Employees.....................................................................................   2
   2.22       Employee Benefits.............................................................................   2
   2.23       Environmental Matters.........................................................................   2
   2.24       Legal Compliance..............................................................................   2
   2.25       Customers and Suppliers.......................................................................   2
   2.26       Permits.......................................................................................   2
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<S>                                                                                                             <C>
   2.27       Certain Business Relationships With Affiliates................................................     2
   2.28       Brokers' Fees.................................................................................     2
   2.29       Books and Records.............................................................................     2
   2.30       Prepayments, Prebilled Invoices and Deposits..................................................     2
   2.31       Investment Questionnaires.....................................................................     2
   2.32       Government Contracts..........................................................................     2
   2.33       Disclosure....................................................................................     2
ARTICLE III  REPRESENTATIONS AND WARRANTIES OF THE BUYER AND THE TRANSITORY SUBSIDIARY......................     2
   3.1        Organization and Corporate Power..............................................................     2
   3.2        Authorization of Transaction..................................................................     2
   3.3        Noncontravention..............................................................................     2
   3.4        Broker's Fees.................................................................................     2
   3.5        Investment Representation.....................................................................     2
   3.6        Capitalization................................................................................     2
   3.7        WKSI Status...................................................................................     2
   3.8        Reorganization................................................................................     2
   3.9        Disclosure....................................................................................     2
ARTICLE IV  COVENANTS.......................................................................................     2
   4.1        Closing Efforts...............................................................................     2
   4.2        Governmental and Third-Party Notices and Consents.............................................     2
   4.3        Stockholder Approval..........................................................................     2
   4.4        Operation of Business.........................................................................     2
   4.5        Access to Information.........................................................................     2
   4.6        Notice of Breaches............................................................................     2
   4.7        Exclusivity...................................................................................     2
   4.8        Expenses......................................................................................     2
   4.9        Access to Customers and Suppliers.............................................................     2
   4.10       Listing of Merger Shares......................................................................     2
   4.11       280G Covenant.................................................................................     2
   4.12       FIRPTA........................................................................................     2
   4.13       Indemnification...............................................................................     2
   4.14       Conversion of Indebtedness....................................................................     2
   4.15       Termination of Option Plan....................................................................     2
   4.16       Foreign Qualification.........................................................................     2
ARTICLE V  CONDITIONS TO CONSUMMATION OF MERGER.............................................................     2
   5.1        Conditions to Obligations of the Buyer and the Transitory Subsidiary..........................     2
   5.2        Conditions to Obligations of the Company......................................................     2
ARTICLE VI  INDEMNIFICATION.................................................................................     2
   6.1        Indemnification by the Company Stockholders...................................................     2
   6.2        Indemnification Claims........................................................................     2
   6.3        Survival of Representations and Warranties....................................................     2
   6.4        Limitations...................................................................................     2
ARTICLE VII  REGISTRATION AND LOCK-UP OF SHARES.............................................................     2
   7.1        Stockholder Registration Statement............................................................     2
   7.2        Limitations on Registration Rights............................................................     2
   7.3        Registration Procedures.......................................................................     2
   7.4        Requirements of Company Stockholders..........................................................     2
   7.5        Indemnification...............................................................................     2
   7.6        Assignment of Rights..........................................................................     2
   7.7        Lock-up Agreements............................................................................     2
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<S>                                                                          <C>
ARTICLE VIII  TAX MATTERS...................................................  2
   8.1        Preparation and Filing of Tax Returns; Payment of Taxes.......  2
   8.2        Tax Indemnification by the Company Stockholders...............  2
   8.3        Allocation of Certain Taxes...................................  2
   8.4        Cooperation on Tax Matters....................................  2
   8.5        Termination of Tax-Sharing Agreements.........................  2
   8.6        Scope of Article VIII.........................................  2
ARTICLE IX  POST-CLOSING AGREEMENTS.........................................  2
   9.1        Proprietary Information.......................................  2
   9.2        No Solicitation or Hiring of Former Employees.................  2
   9.3        Non Competition Agreement.....................................  2
ARTICLE X  TERMINATION......................................................  2
   10.1       Termination of Agreement......................................  2
   10.2       Effect of Termination.........................................  2
ARTICLE XI  DEFINITIONS.....................................................  2
ARTICLE XII  MISCELLANEOUS..................................................  2
   12.1       Press Releases and Announcements..............................  2
   12.2       No Third Party Beneficiaries..................................  2
   12.3       Entire Agreement..............................................  2
   12.4       Succession and Assignment.....................................  2
   12.5       Counterparts and Facsimile Signature..........................  2
   12.6       Headings......................................................  2
   12.7       Notices.......................................................  2
   12.8       Governing Law.................................................  2
   12.9       Amendments and Waivers........................................  2
   12.10      Severability..................................................  2
   12.11      Submission to Jurisdiction....................................  2
   12.12      Construction..................................................  2

Exhibit A -       Form of Investment Representation Letter
Exhibit B -       Form of Escrow Agreement
Exhibit C -       Form of Shareholder Voting Agreement
Exhibit D -       Form of Opinion of Counsel to the Company and the Company
                  Stockholders
Exhibit E -       Form of Opinion of Counsel to the Buyer
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                          AGREEMENT AND PLAN OF MERGER

      This Agreement and Plan of Merger (the "Agreement") is entered into as of
November 17, 2006, by and among Akamai Technologies, Inc., a Delaware
corporation (the "Buyer"), Nantucket Acquisition Corp., a Delaware corporation
and a wholly-owned subsidiary of the Buyer (the "Transitory Subsidiary"), Nine
Systems Corporation, a Delaware corporation (the "Company"), and Wren Holdings,
L.L.C., Cameron Family Partnership, L.P., Janney Montgomery & Scott, Inc., as
custodian under SEP fbo Andrew T. Dwyer, Janney Montgomery & Scott, Inc., as
custodian under IRA fbo Andrew T. Dwyer, Javva Partners LLC and Catalyst
Investors, L.P. (each a "Principal Stockholder" and, collectively, the
"Principal Stockholders"). The Buyer, the Transitory Subsidiary, the Company and
the Principal Stockholders are sometimes referred to herein individually as a
"Party" and collectively as the "Parties".

      This Agreement contemplates a merger of the Transitory Subsidiary into the
Company. In such merger, (a) the Company Stockholders will receive Buyer Common
Shares or cash, as set forth in this Agreement, in exchange for their capital
stock of the Company and (b) options and warrants to acquire common stock of the
Company will become options and warrants to acquire Buyer Common Shares. For
federal income tax purposes, it is intended that the Merger shall qualify as a
reorganization within the meaning of Section 368(a) of the Code.

      Concurrently with the execution of this Agreement, certain of the
Company's employees are entering into agreements with the Buyer regarding
retention arrangements and certain of the Company's employees are entering into
non-competition and non-solicitation agreements with the Buyer.

      The Parties intend that, as soon as practicable following the execution of
this Agreement, certain stockholders of the Company will cause written consents
to approve the transactions contemplated by this Agreement to be executed by
themselves or by their proxy holders.

      Now, therefore, in consideration of the representations, warranties and
covenants herein contained, the Parties hereby agree as follows.

                                   ARTICLE I
                                   THE MERGER

      1.1 The Merger. Upon and subject to the terms and conditions of this
Agreement, the Transitory Subsidiary shall merge with and into the Company at
the Effective Time. From and after the Effective Time, the separate corporate
existence of the Transitory Subsidiary shall cease and the Company shall
continue as the Surviving Corporation. The Merger shall have the effects set
forth in Section 259 of the Delaware General Corporation Law.

      1.2 The Closing. The Closing shall take place at the offices of Wilmer
Cutler Pickering Hale and Dorr LLP, 60 State Street, Boston, Massachusetts
02109, commencing at 9:00 a.m. local time on the Closing Date.

      1.3 Actions at the Closing. At the Closing:

            (a) the Company shall deliver to the Buyer and the Transitory
Subsidiary the various certificates, instruments and documents referred to in
Section 5.1;

            (b) the Buyer and the Transitory Subsidiary shall deliver to the
Representative the various certificates, instruments and documents referred to
in Section 5.2;

<PAGE>

            (c) the Surviving Corporation shall file with the Secretary of State
of the State of Delaware the Certificate of Merger;

            (d) the Buyer or the Surviving Corporation shall deliver to the
Exchange Agent (i) a certificate for the aggregate Initial Merger Shares in
accordance with Sections 1.5(e) and 1.7(a) and (ii) an amount in cash equal to
the aggregate Cash Merger Consideration in accordance with Sections 1.5(f) and
1.7(a); and

            (e) the Buyer, the Representative and the Escrow Agent shall execute
and deliver the Escrow Agreement, and the Buyer shall deliver to the Escrow
Agent a certificate for the Escrow Shares being placed in escrow on the Closing
Date pursuant to Section 1.11.

      1.4 Additional Action. The Surviving Corporation may, at any time from and
after the Effective Time, take any action, including executing and delivering
any document, in the name and on behalf of either the Company or the Transitory
Subsidiary, in order to consummate and give effect to the transactions
contemplated by this Agreement.

      1.5 Conversion of Shares. At the Effective Time, by virtue of the Merger
and without any action on the part of any Party or the holder of any of the
following securities:

            (a) Each Common Share issued and outstanding immediately prior to
the Effective Time (other than Common Shares owned beneficially by the Buyer or
the Transitory Subsidiary, Dissenting Shares and Common Shares held in the
Company's treasury) owned of record by a holder who has prior to the Effective
Time delivered an Investment Representation Letter substantially in the form
attached hereto as Exhibit A shall be converted into and represent the right to
receive (subject to the provisions of Sections 1.10 and 1.11) a fraction of a
share (the "Common Conversion Ratio") of Buyer Common Shares as is equal to the
result obtained by dividing (i) the Share Merger Consideration (as adjusted
pursuant to Sections 1.10(a)(i) and 1.10(a)(ii) hereof), minus the Employee
Amount and the Loan Amount, by (ii) the Total Company Shares. The Common
Conversion Ratio shall be subject to equitable adjustment in the event of any
stock split, stock dividend, reverse stock split, reorganization,
recapitalization or reclassification of capital stock or similar event affecting
the Buyer Common Shares between the date hereof and the Effective Time.

            (b) Each Common Share issued and outstanding immediately prior to
the Effective Time (other than Common Shares owned beneficially by the Buyer or
the Transitory Subsidiary, Dissenting Shares and Common Shares held in the
Company's treasury) owned of record by a holder who has not prior to the
Effective Time delivered an Investment Representation Letter substantially in
the form attached hereto as Exhibit A shall be converted into and represent the
right to receive (subject to the provisions of Sections 1.10(a)(i) and
1.10(a)(ii) hereof) cash in an amount equal to the product obtained by
multiplying (i) the Common Conversion Ratio by (ii) the Buyer Share Price.

            (c) Each Preferred Share issued and outstanding immediately prior to
the Effective Time (other than Preferred Shares owned beneficially by the Buyer
or the Transitory Subsidiary, Dissenting Shares and Preferred Shares held in the
Company's treasury) shall be converted into and represent the right to receive
(subject to the provisions of Sections 1.10 and 1.11) such number of shares of
Buyer Common Shares as is equal to the result obtained by multiplying the Common
Conversion Ratio by the number of Common Shares into which each Preferred Share
is convertible immediately prior to the Effective Time (the "Preferred
Conversion Ratio"). The Preferred Conversion Ratio shall be subject to equitable
adjustment in the event of any stock split, stock dividend, reverse stock split,
reorganization, recapitalization or reclassification of capital stock or similar
event affecting the Buyer Common Shares between the date hereof and the
Effective Time.

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            (d) The Company shall take all steps necessary to ensure that all
outstanding convertible promissory notes issued by the Company, if any, shall be
converted into Common Shares immediately prior to the Closing, pursuant to the
conversion terms thereof.

            (e) Of the Buyer Common Shares into which any Company Stockholder's
Company Shares shall be converted at the Effective Time pursuant to Sections
1.5(a) and 1.5(c), (i) such Company Stockholder's Escrow Amount shall be
designated as Escrow Shares and deposited in escrow pursuant to Section 1.11(a)
and (ii) the remainder of such Buyer Common Shares not deposited into escrow
pursuant to the foregoing clause (i) (the "Initial Merger Shares") shall be
delivered to the Exchange Agent for distribution to the applicable Company
Stockholders in accordance with Section 1.7 and subject to the provisions of
Section 1.8.

            (f) The Cash Merger Consideration into which any Company
Stockholder's Common Shares shall be converted at the Effective Time pursuant to
Section 1.5(b) shall be delivered to the Exchange Agent for distribution to the
applicable Company Stockholders in accordance with Section 1.7.

            (g) Each Company Share held in the Company's treasury immediately
prior to the Effective Time and each Company Share owned beneficially by the
Buyer or the Transitory Subsidiary shall be cancelled and retired without
payment of any consideration therefor.

            (h) Each share of common stock, $0.01 par value per share, of the
Transitory Subsidiary issued and outstanding immediately prior to the Effective
Time shall be converted into and thereafter evidence one share of common stock,
$0.01 par value per share, of the Surviving Corporation.

      1.6 Dissenting Shares.

            (a) Dissenting Shares shall not be converted into or represent the
right to receive Buyer Common Shares or Cash Merger Consideration, unless the
Company Stockholder holding such Dissenting Shares shall have forfeited his, her
or its right to appraisal under the Delaware General Corporation Law or properly
withdrawn, his, her or its demand for appraisal. If such Company Stockholder has
so forfeited or withdrawn his, her or its right to appraisal of Dissenting
Shares, then as of the occurrence of such event, such holder's Dissenting Shares
shall cease to be Dissenting Shares and shall be converted into and represent
either the right to receive (i) the Buyer Common Shares issuable in respect of
the Company Shares held by such Company Stockholder pursuant to Sections 1.5(a)
or 1.5(c), or (ii) the Cash Merger Consideration in respect of the Common Shares
held by such Company Stockholder pursuant to Section 1.5(b), as applicable.

            (b) Immediately after the occurrence of a conversion of Dissenting
Shares into Buyer Common Shares pursuant to Section 1.6(a), (i) if such
conversion occurs during the Escrow Period, the Escrow Amount for the Company
Stockholder who formerly held Dissenting Shares shall be designated as Escrow
Shares and shall remain in escrow pursuant to Section 1.11(a) and (ii) the
remainder of such Buyer Common Shares not deposited into escrow pursuant to the
foregoing clause (i) (which shares shall be considered Initial Merger Shares for
all purposes of this Agreement) shall be delivered to the Exchange Agent for
distribution to the Company Stockholder holding such Dissenting Shares in
accordance with Section 1.7 and subject to the provisions of Section 1.8.

            (c) The Company shall give the Buyer (i) prompt notice of any
written demands for appraisal of any Company Shares, withdrawals of such
demands, and any other instruments that relate to such demands received by the
Company and (ii) the opportunity to direct all negotiations and proceedings with
respect to demands for appraisal under the Delaware General Corporation Law. The
Company shall

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not, except with the prior written consent of the Buyer, make any payment with
respect to any demands for appraisal of Company Shares or offer to settle or
settle any such demands.

      1.7 Exchange of Shares.

            (a) Prior to the Effective Time, the Buyer shall appoint the
Exchange Agent to effect the delivery of the Initial Merger Shares and the Cash
Merger Consideration in exchange for Certificates. On the Closing Date, the
Buyer shall deliver (or caused to be delivered) to the Exchange Agent, in trust
for the benefit of holders of Certificates, (i) a stock certificate (issued in
the name of the Exchange Agent or its nominee) representing the aggregate
Initial Merger Shares as described in Section 1.5(e), (ii) cash for any
fractional shares as described in Section 1.8 and (iii) cash in an amount equal
to the Cash Merger Consideration as described in Section 1.5(f). As soon as
practicable after the Effective Time, the Buyer shall cause the Exchange Agent
to send a notice and a transmittal form to each holder of a Certificate advising
such holder of the effectiveness of the Merger and the procedure for
surrendering to the Exchange Agent such Certificate in exchange for the Initial
Merger Shares issuable to such holder pursuant to Sections 1.5(a) or 1.5(c) or
the Cash Merger Consideration payable to such holder pursuant to Section 1.5(b),
as applicable. Each holder of a Certificate, upon proper surrender thereof to
the Exchange Agent in accordance with the instructions in such notice, shall be
entitled to receive in exchange therefor (subject to any taxes required to be
withheld) either (i) the Initial Merger Shares issuable pursuant to Sections
1.5(a) or 1.5(c) plus cash in lieu of any fractional shares, as provided in
Section 1.8 below, or (ii) Cash Merger Consideration payable pursuant to Section
1.5(b), as applicable. Until properly surrendered, each such Certificate shall
be deemed for all purposes to evidence only the right to receive either (i) a
certificate for the Initial Merger Shares issuable pursuant to Sections 1.5(a)
or (c) or (ii) the Cash Merger Consideration payable pursuant to Section 1.5(b),
as applicable. Holders of Certificates shall not be entitled to receive
certificates for the Initial Merger Shares or the Cash Merger Consideration to
which they would otherwise be entitled until such Certificates are properly
surrendered.

            (b) If any Initial Merger Shares are to be issued in the name of a
person other than the person in whose name the Certificate surrendered in
exchange therefor is registered, it shall be a condition to the issuance of such
Initial Merger Shares that (i) the Certificate so surrendered shall be
transferable, and shall be properly assigned, endorsed or accompanied by
appropriate stock powers, (ii) such transfer shall otherwise be proper and (iii)
the person requesting such transfer shall pay to the Exchange Agent any transfer
or other Taxes payable by reason of the foregoing or establish to the
satisfaction of the Exchange Agent that such Taxes have been paid or are not
required to be paid. Notwithstanding the foregoing, neither the Exchange Agent
nor any Party shall be liable to a holder of Company Shares for any Initial
Merger Shares or any Cash Merger Consideration issuable to such holder pursuant
to Section 1.5 delivered to a public official pursuant to applicable abandoned
property, escheat or similar laws.

            (c) In the event any Certificate shall have been lost, stolen or
destroyed, upon the making of an affidavit of that fact by the person claiming
such Certificate to be lost, stolen or destroyed, the Exchange Agent shall issue
in exchange for such lost, stolen or destroyed Certificate either (i) the
Initial Merger Shares issuable in exchange therefor pursuant to Section 1.5(a)
or 1.5(c) or (ii) the Cash Merger Consideration payable in exchange therefore
pursuant to Section 1.5(b), as applicable. The Exchange Agent or the Buyer may,
in its discretion and as a condition precedent to the issuance or payment
thereof, require the owner of such lost, stolen or destroyed Certificate to give
the Exchange Agent and/or the Buyer a bond in such sum as it may reasonably
direct as indemnity against any claim that may be made against the Exchange
Agent or the Buyer with respect to the Certificate alleged to have been lost,
stolen or destroyed.

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            (d) No dividends or other distributions that are payable to the
holders of record of Buyer Common Shares as of a date on or after the Closing
Date shall be paid to former Company Stockholders entitled by reason of the
Merger to receive Initial Merger Shares until such holders surrender their
Certificates for certificates representing the Initial Merger Shares. Upon such
surrender, the Buyer shall pay or deliver to the persons in whose name the
certificates representing such Initial Merger Shares are issued any dividends or
other distributions that are payable to the holders of record of Buyer Common
Shares as of a date on or after the Closing Date and which were paid or
delivered between the Effective Time and the time of such surrender; provided
that no such person shall be entitled to receive any interest on such dividends
or other distributions.

      1.8 Fractional Shares. No certificates or scrip representing fractional
Initial Merger Shares shall be issued to former Company Stockholders upon the
surrender for exchange of Certificates, and such former Company Stockholders
shall not be entitled to any voting rights, rights to receive any dividends or
distributions or other rights as a stockholder of the Buyer with respect to any
fractional Initial Merger Shares that would have otherwise been issued to such
former Company Stockholders. In lieu of any fractional Initial Merger Shares
that would have otherwise been issued, each former Company Stockholder that
would have been entitled to receive a fractional Initial Merger Share shall,
upon proper surrender of such person's Certificates, receive a cash payment
equal to $46.15 multiplied by the fraction of a share that such Company
Stockholder would otherwise be entitled to receive.

      1.9 Options and Warrants.

            (a) As of the Effective Time, all Options, whether vested or
unvested, and any Option Plan, insofar as it relates to Options outstanding
under such Option Plan as of the Closing, shall be assumed by the Buyer.
Immediately after the Effective Time, each Option outstanding immediately prior
to the Effective Time shall be deemed to constitute an option to acquire, on the
same terms and conditions as were applicable under such Option at the Effective
Time, such number of Buyer Common Shares as is equal to the number of Common
Shares subject to the unexercised portion of such Option multiplied by the
Common Conversion Ratio (with any fraction resulting from such multiplication to
be rounded down to the nearest whole number). The exercise price per share of
each such assumed Option shall be equal to the exercise price of such Option
immediately prior to the Effective Time, divided by the Common Conversion Ratio
(rounded up to the nearest whole cent). The term, exercisability, vesting
schedule and all of the other terms of the Options shall otherwise remain
unchanged.

            (b) As of the Effective Time, all Warrants that were outstanding
immediately prior to the Effective Time, whether vested or unvested, shall be
assumed by the Buyer. Immediately after the Effective Time, each Warrant
outstanding immediately prior to the Effective Time shall be deemed to
constitute a warrant to acquire, on the same terms and conditions as were
applicable under such Warrant at the Effective Time, such number of shares of
Buyer Common Shares as is equal to the number of Common Shares subject to the
unexercised portion of such Warrant multiplied by the Common Conversion Ratio
(with any fraction less than one-half resulting from such multiplication to be
rounded down to the nearest whole number and any fraction of one-half or more
resulting from such multiplication to be rounded up to the nearest whole
number). The exercise price per share of each such assumed Warrant shall be
equal to the exercise price of such Warrant immediately prior to the Effective
Time, divided by the Common Conversion Ratio (rounded as provided above to the
nearest whole cent). The term, exercisability, vesting schedule, and all of the
other terms of the Warrant shall otherwise remain unchanged.

            (c) As soon as practicable after the Effective Time, the Buyer or
the Surviving Corporation shall deliver to the holders of Options and Warrants
appropriate notices setting forth such holders' rights pursuant to such Options
or Warrants, as applicable, as amended by this Section 1.9, and

                                      -5-
<PAGE>

the agreements evidencing such Options or Warrants, as applicable, and that such
Option or Warrants shall continue in effect on the same terms and conditions
(subject to the amendments provided for in this Section 1.9 and such notice).

            (d) The Buyer shall take all corporate action necessary to reserve
for issuance a sufficient number of Buyer Common Shares for delivery upon
exercise of the Options and Warrants assumed in accordance with this Section
1.9. Within 10 business days after the Effective Time, the Buyer shall file a
Registration Statement on Form S-8 (or any successor form) under the Securities
Act with respect to all Buyer Common Shares subject to the Options that may be
registered on a Form S-8, and shall use its Reasonable Best Efforts to maintain
the effectiveness of such Registration Statement for so long as such Options
remain outstanding.

            (e) The Company shall obtain, prior to the Closing, the consent from
each holder of an Option or a Warrant to the amendment of such Option or Warrant
pursuant to this Section 1.9 (unless such consent is not required under the
terms of the applicable agreement, instrument or plan).

      1.10 Adjustment Before and After the Closing. The Total Merger
Consideration shall be subject to adjustment as follows:

            (a) Not later than three business days prior to the Closing Date,
the Company shall prepare and deliver to the Buyer a balance sheet of the
Company as of a date (the "Preliminary Closing Balance Sheet Date") within five
business days of the Closing Date (the "Preliminary Closing Balance Sheet"). The
Preliminary Closing Balance Sheet shall be prepared in accordance with the
provisions relating to the preparation of the Closing Balance Sheet set forth in
this Section 1.10. The Preliminary Closing Balance Sheet shall be accompanied by
(i) all relevant backup materials and schedules, in detail reasonably acceptable
to the Buyer, and (ii) a statement setting forth the amount, if any, by which
the estimated Net Asset Value is greater than, or less than, the Target Amount
(the "Preliminary Net Asset Value"). In calculating the Preliminary Net Asset
Value, the Preliminary Closing Balance Sheet shall include (A) as liabilities
the full amount of the anticipated Transaction Costs, to the extent such costs
have not been paid prior to the date of the Preliminary Closing Balance Sheet;
(B) estimated accruals for the disputes, severance obligations and retention and
change in control payments (which shall exclude the Employee Amount); and (C)
reserves in respect of Taxes due with respect to periods ending (or deemed to
have ended pursuant to Section 8.3(b) below) on or prior to the Closing Date.
Schedule I attached hereto reflects accruals and other items that the parties
agree shall be taken into consideration in preparing the Preliminary Closing
Balance Sheet. The Preliminary Closing Balance Sheet shall be accompanied by a
statement setting forth the calculations showing the basis for the determination
of such sums. If the Preliminary Net Asset Value on the Preliminary Closing
Balance Sheet is (i) greater than the Target Amount, then the difference shall
be added to the Base Purchase Price, or (ii) less than the Target Amount, then
the difference shall be deducted from the Base Purchase Price (the Base Purchase
Price, as so adjusted, is referred to as the "Preliminary Base Purchase Price").
If the Preliminary Base Purchase Price is:

                  (i) less than the Base Purchase Price, the Share Merger
Consideration shall be reduced by a number of Buyer Common Shares equal to the
amount of the deficiency divided by $46.15.

                  (ii) greater than the Base Purchase Price, the Share Merger
Consideration shall be increased by a number of Buyer Common Shares equal to the
amount of the surplus divided by $46.15.

                                      -6-
<PAGE>

            (b) Not later than 30 calendar days after the Closing Date, the
Buyer shall deliver to the Representative the Closing Balance Sheet. The Closing
Balance Sheet shall be prepared in accordance with GAAP applied consistently
with the Company's past practices (to the extent such past practices are
consistent with GAAP), except that the Closing Balance Sheet may exclude all
footnotes, subject to the adjustments set forth in this Section 1.10 (which
shall be in addition to and not in lieu of those required by GAAP) and shall be
certified as such by the Buyer.

            (c) The Closing Balance Sheet delivered pursuant to paragraph (b)
above shall be accompanied by (i) all relevant backup materials and schedules,
in detail reasonably acceptable to the Representative, and (ii) a statement
setting forth the amount, if any, by which the Net Asset Value is greater than,
or less than, the Preliminary Net Asset Value. In calculating the Net Asset
Value, the Closing Balance Sheet shall include as (A) liabilities the full
amount of the Transaction Costs, to the extent such transaction fees and
expenses were not paid prior to the Effective Time; (B) accruals for the
disputes, severance obligations and retention and change in control payments
(which shall exclude the Employee Amount); and (C) reserves in respect of Taxes
due with respect to periods ending (or deemed to have ended pursuant to Section
8.3(b) below) on or prior to the Closing Date. Schedule I attached hereto
reflects accruals and other items that the parties agree shall be taken into
consideration in preparing the Closing Balance Sheet. The Closing Balance Sheet
shall be accompanied by a statement setting forth the calculations showing the
basis for the determination of such sums.

            (d) In the event that the Representative disputes the Closing
Balance Sheet or the calculation of the Closing Net Asset Value Adjustment, the
Representative shall notify the Buyer in writing (the "Dispute Notice") of the
amount, nature and basis of such dispute, within 30 calendar days after delivery
of the Closing Balance Sheet. In the event of such a dispute, the Buyer and the
Representative shall first use their diligent good faith efforts to resolve such
dispute among themselves. If the Buyer and the Representative are unable to
resolve the dispute within 30 calendar days after delivery of the Dispute
Notice, then any remaining items in dispute shall be submitted to an independent
nationally recognized accounting firm selected in writing by the Representative
and the Buyer or, if the Representative and the Buyer fail or refuse to select a
firm within 10 calendar days after written request therefor by the
Representative or the Buyer, such an independent nationally recognized
accounting firm shall be selected in accordance with the rules of the Boston,
Massachusetts office of the AAA (the "Neutral Accountant"). All determinations
pursuant to this paragraph (d) shall be in writing and shall be delivered to the
Buyer and the Representative. The determination of the Neutral Accountant as to
the resolution of any dispute shall be binding and conclusive upon all Parties.
A judgment on the determination made by the Neutral Accountant pursuant to this
Section 1.10 may be entered in and enforced by any court having jurisdiction
thereover.

            (e) The fees and expenses of the Neutral Accountant in connection
with the resolution of disputes pursuant to paragraph (d) above shall be shared
equally by the Company Stockholders, on the one hand, and the Buyer, on the
other hand; provided that if the Neutral Accountant determines that one such
party has adopted a position or positions with respect to the Closing Balance
Sheet or the calculation of the Closing Net Asset Value Adjustment that is
frivolous or clearly without merit, the Neutral Accountant may, in its
discretion, assign a greater portion of any such fees and expenses to such
party. Any such fees payable by the Company Stockholders hereunder shall be
funded from the Escrow Shares.

            (f) Immediately upon the expiration of the 30-day period for giving
the Dispute Notice, if no such notice is given, or upon notification by the
Representative to the Buyer, that no such notice will be given, or immediately
upon the resolution of disputes, if any, pursuant to this Section1.10, the
Preliminary Base Purchase Price shall be adjusted as follows (as so adjusted,
the "Adjusted Base Purchase Price"):

                                      -7-
<PAGE>

                  (i) If the Closing Net Asset Value Adjustment is negative,
such deficiency shall be deducted from the Preliminary Base Purchase Price to
obtain the Adjusted Base Purchase Price, and the Buyer shall be entitled to
recover such deficiency pursuant to the terms of the Escrow Agreement;

                  (ii) If the Closing Net Asset Value Adjustment is zero, the
Adjusted Base Purchase Price shall be equal to the Preliminary Base Purchase
Price; and

                  (iii) If the Closing Net Asset Value Adjustment is positive,
such surplus shall be added to the Preliminary Base Purchase Price to obtain the
Adjusted Base Purchase Price, and the Buyer shall deliver to the Exchange Agent
a certificate representing a number of Buyer Common Shares equivalent to the
amount of the surplus divided by $46.15. Such Buyer Common Shares shall be
distributed by the Exchange Agent to the Company Stockholders whose Company
Shares converted into Buyer Common Shares in accordance with Sections 1.5(a) or
1.5(c) on a pro rata basis in accordance with the terms and conditions of
Sections 1.5(e) and 1.6(a), as applicable.

      1.11 Escrow Arrangements.

            (a) On the Closing Date, the Buyer shall deliver to the Escrow Agent
a certificate (issued in the name of the Escrow Agent or its nominee)
representing the Escrow Shares issuable pursuant to Section 1.5(e)(i), to be
held in escrow for the purpose of (i) providing security for any adjustment to
the amount of the Preliminary Base Purchase Price pursuant to Section 1.10(f)
and (ii) securing the indemnification obligations of the Company Stockholders
set forth in Article VI and Article VIII. The Escrow Shares shall be held by the
Escrow Agent under the Escrow Agreement pursuant to the terms thereof. The
Escrow Shares shall be held as a trust fund and shall not be subject to any
lien, attachment, trustee process or any other judicial process of any creditor
of any party, and shall be held and disbursed solely for the purposes and in
accordance with the terms of the Escrow Agreement. The Company Stockholders
shall have the right to receive any cash dividends or any other property (other
than securities) paid or issued as dividends by the Buyer with respect to Escrow
Shares held on their behalf. The Representative shall have the right to vote any
Escrow Shares by instructing the Escrow Agent in accordance with the provisions
of the Escrow Agreement.

            (b) The execution of this Agreement by the Principal Stockholders
and the adoption of this Agreement and the approval of the Merger by the Company
Stockholders shall constitute approval of the Escrow Agreement and of all of the
arrangements relating thereto, including the placement of the Escrow Shares in
the escrow established pursuant to this Section 1.11.

      1.12 Representative.

            (a) In order to efficiently administer the transactions contemplated
hereby, including (i) the determination of the Net Asset Value and Adjusted Base
Purchase Price, (ii) the waiver of any condition to the obligations of the
Company Stockholders to consummate the transactions contemplated hereby and
(iii) the defense and/or settlement of any claims for which the Company
Stockholders may be required to indemnify the Buyer and/or the Surviving
Corporation pursuant to Article VI hereof, the Principal Stockholders, by their
execution of this Agreement, and the Other Company Stockholders, by the approval
of the Merger and adoption of this Agreement and/or their acceptance of any
Buyer Common Shares or Cash Merger Consideration pursuant to this Agreement,
hereby designate the Representative as their representative, attorney-in-fact
and agent.

            (b) The Principal Stockholders, by their execution of this
Agreement, and the Other Company Stockholders, by the approval of the Merger and
adoption of this Agreement and/or their acceptance of any Buyer Common Shares or
Cash Merger Consideration pursuant to this Agreement,

                                      -8-
<PAGE>

hereby authorize the Representative (i) to make all decisions relating to the
determination of the Net Asset Value, the Adjusted Base Purchase Price and any
increase or decrease in the Total Merger Consideration pursuant to Section 1.10,
(ii) to take all action necessary in connection with the waiver of any condition
to the obligations of the Company and the Company Stockholders to consummate the
transactions contemplated hereby, or the defense and/or settlement of any claims
for which the Company Stockholders may be required to indemnify the Buyer and/or
the Surviving Corporation pursuant to Article VI hereof, (iii) to give and
receive all notices required to be given under the Agreement, and (iv) to take
any and all additional action as is contemplated to be taken by or on behalf of
the Company Stockholders by the terms of this Agreement.

            (c) In the event that the Representative becomes unable to perform
its responsibilities hereunder or resigns from such position, the Company
Stockholders (acting by the vote of the Company Stockholders who immediately
prior to the Effective Time held at least a majority of the outstanding Company
Shares held by all Company Stockholders (voting on an as-converted to Common
Share basis)) shall select another representative to fill the vacancy of the
Representative initially chosen by the Company Stockholders, and such
substituted representative shall be deemed to be the Representative for all
purposes of this Agreement and the documents delivered pursuant hereto. (d) All
decisions and actions by the Representative, including without limitation any
agreement between the Representative and the Buyer relating to the determination
of the Net Asset Value and the Adjusted Base Purchase Price or the defense or
settlement of any claims for which the Company Stockholders may be required to
indemnify the Buyer and/or the Surviving Corporation pursuant to Article VI
hereof, shall be binding upon all of the Company Stockholders, and no Company
Stockholder shall have the right to object, dissent, protest or otherwise
contest the same.

            (e) By his, her or its execution of this Agreement, each Principal
Stockholder, and by his or her or its approval of the Merger and adoption of
this Agreement, and/or their acceptance of any Buyer Common Shares or Cash
Merger Consideration pursuant to this Agreement, each Other Company Stockholder,
agrees that:

                  (i) the Buyer shall be able to rely conclusively on the
instructions and decisions of the Representative as to the determination of the
Net Asset Value and the Adjusted Base Purchase Price, the settlement of any
claims for indemnification by the Buyer and/or the Surviving Corporation
pursuant to Article VI hereof or any other actions required or permitted to be
taken by the Representative hereunder, and no party shall have any cause of
action against the Buyer for any action taken by the Buyer in reliance upon the
instructions or decisions of the Representative;

                  (ii) all actions, decisions and instructions of the
Representative shall be conclusive and binding upon all of the Company
Stockholders and no Company Stockholder shall have any cause of action against
the Representative for any action taken, decision made or instruction given by
the Representative under this Agreement, except for fraud or willful breach of
this Agreement by the Representative;

                  (iii) the provisions of this Section 1.12 are independent and
severable, are irrevocable and coupled with an interest and shall be enforceable
notwithstanding any rights or remedies that any Company Stockholder may have in
connection with the transactions contemplated by this Agreement;

                  (iv) remedies available at law for any breach of the
provisions of this Section 1.12 are inadequate; therefore, the Buyer and the
Surviving Corporation shall be entitled to temporary and permanent injunctive
relief without the necessity of proving damages if either the Buyer and/or the
Surviving Corporation brings an action to enforce the provisions of this Section
1.12;

                                      -9-
<PAGE>

                  (v) neither the Representative nor any of its officers,
directors, members, employees or Affiliates shall incur any liability to the
Company Stockholders with respect to any action taken or permitted by the
Representative in reliance upon any notice, instruction, consent, statement or
other communication believed by the Representative to be genuine, or for any
other act or omission in the performance of its duties under this Agreement,
except to the extent directly arising from its gross negligence or willful
misconduct; and

                  (vi) the provisions of this Section 1.12 shall be binding upon
the executors, heirs, legal representatives, personal representatives,
successors and permitted assigns of each Company Stockholder, and any references
in this Agreement to a Company Stockholder or the Company Stockholders shall
mean and include the successors to the Company Stockholder's rights hereunder,
whether pursuant to testamentary disposition, the laws of descent and
distribution or otherwise.

      1.13 Certificate of Incorporation and By-laws

            (a) The Certificate of Incorporation of the Surviving Corporation
immediately following the Effective Time shall be the same as the Certificate of
Incorporation of the Transitory Subsidiary immediately prior to the Effective
Time, except that (i) the name of the corporation set forth therein shall be
changed to the name of the Company and (ii) the identity of the incorporator
shall be deleted.

            (b) The By-laws of the Surviving Corporation immediately following
the Effective Time shall be the same as the By-laws of the Transitory Subsidiary
immediately prior to the Effective Time, except that the name of the corporation
set forth therein shall be changed to the name of the Company.

      1.14 Directors and Officers of the Surviving Corporation.

            (a) The directors of the Transitory Subsidiary immediately prior to
the Effective Time shall be the initial directors of the Surviving Corporation,
each to hold office in accordance with the Certificate of Incorporation and
By-laws of the Surviving Corporation.

            (b) The officers of the Transitory Subsidiary immediately prior to
the Effective Time shall be the initial officers of the Surviving Corporation,
each to hold office in accordance with the Certificate of Incorporation and
By-laws of the Surviving Corporation.

      1.15 No Further Rights. From and after the Effective Time, no Company
Shares shall be deemed to be outstanding, and holders of Certificates shall
cease to have any rights with respect thereto, except as provided herein or by
law.

      1.16 Closing of Transfer Books. At the Effective Time, the stock transfer
books of the Company shall be closed and no transfer of Company Shares shall
thereafter be made. If, after the Effective Time, Certificates are presented to
the Buyer, the Surviving Corporation or the Exchange Agent, they shall be
cancelled and exchanged for Initial Merger Shares in accordance with Section
1.5, subject to Section 1.11 and to applicable law in the case of Dissenting
Shares.

      1.17 Withholding Obligations. Each of the Buyer, the Company, the
Surviving Corporation, the Exchange Agent and the Escrow Agent shall be entitled
to deduct and withhold from the consideration otherwise payable pursuant to any
provision of this Agreement to any Equity Holders such amounts as it reasonably
determines that it is required to deduct and withhold with respect to the making
of such payment under the Code, or any other applicable U.S., state, local or
foreign law, rule or regulation. To

                                      -10-
<PAGE>

the extent that amounts are so withheld by the Buyer, the Company, the Surviving
Corporation, the Exchange Agent or the Escrow Agent, as the case may be, such
withheld amounts shall be treated for all purposes of this Agreement as having
been paid to the Equity Holders in respect of which such deduction and
withholding was made by the Buyer, the Company, the Surviving Corporation, the
Exchange Agent or the Escrow Agent, as the case may be. Any amounts so withheld
shall timely be paid to the appropriate Governmental Entity on behalf of the
person with respect to whom such withholding was made in accordance with
applicable law. The Buyer shall also have the right to collect Forms W-8 or W-9,
or such other forms relating to United States federal withholding obligations as
may be applicable, from the Equity Holders.

                                   ARTICLE II
                  REPRESENTATIONS AND WARRANTIES OF THE COMPANY

      The Company represents and warrants to the Buyer that, except as set forth
in the Disclosure Schedule, the statements contained in this Article II are true
and correct as of the date of this Agreement and will be true and correct as of
the Closing as though made as of the Closing, except to the extent such
representations and warranties are specifically made as of a particular date (in
which case such representations and warranties will be true and correct as of
such date). The Disclosure Schedule shall be arranged in sections and paragraphs
corresponding to the numbered and lettered sections and paragraphs contained in
this Article II. The disclosures in any section or paragraph of the Disclosure
Schedule shall qualify only (a) the corresponding section or paragraph in this
Article II and (b) other sections or paragraphs in this Article II to the extent
that it is clear from a reading of the disclosure that such disclosure also
qualifies or applies to such other section or paragraph.

      2.1 Organization, Qualification and Corporate Power. The Company is a
corporation duly organized, validly existing and in corporate and tax good
standing under the laws of the State of Delaware. The Company is duly qualified
to conduct business and is in corporate and tax good standing under the laws of
each jurisdiction listed in Section 2.1 of the Disclosure Schedule, which
jurisdictions constitute the only jurisdictions in which the nature of the
Company's businesses or the ownership or leasing of its properties requires such
qualification. The Company has all requisite power and authority (corporate and
other) to carry on the businesses in which it is engaged and to own and use the
properties owned and used by it. The Company has furnished to the Buyer complete
and accurate copies of its certificate of incorporation and by-laws, each as
amended to date. The Company is not in default under or in violation of any
provision of its certificate of incorporation or by-laws.

      2.2 Capitalization.

            (a) The authorized capital stock of the Company consists of (i)
25,000,000 Common Shares, of which, as of the date of this Agreement, 1,396,846
shares were issued and outstanding and no shares were held in the treasury of
the Company, and (ii) 3,200,000 Preferred Shares, of which (A) 2,800,000 shares
have been designated as Series A Convertible Preferred Stock, of which, as of
the date of this Agreement, 2,638,707 shares were issued and outstanding, (B)
35,000 shares have been designated as Series B-1 Convertible Preferred Stock, of
which, as of the date of this Agreement, 34,771 shares were issued and
outstanding, and (C) 36,000 shares have been designated as Series B-2
Convertible Preferred Stock, of which, as of the date of this Agreement, 6,000
shares were issued and outstanding.

            (b) Section 2.2(b) of the Disclosure Schedule sets forth a complete
and accurate list, as of the date of the Agreement, of the record holders of
capital stock of the Company, showing the number of shares of capital stock, and
the class or series of such shares, held by each stockholder and (for shares
other than Common Shares) the number of Common Shares (if any) into which such
shares are convertible. Section 2.2(b) of the Disclosure Schedule also indicates
all outstanding Company Shares

                                      -11-
<PAGE>

that constitute restricted stock or that are otherwise subject to a repurchase
or redemption right, indicating the name of the applicable stockholder, the
vesting schedule (including any acceleration provisions with respect thereto),
and the repurchase price payable by the Company. All of the issued and
outstanding shares of capital stock of the Company have been and on the Closing
Date will be duly authorized, validly issued, fully paid, nonassessable and free
of all preemptive rights. All of the issued and outstanding shares of capital
stock of the Company have been offered, issued and sold by the Company in
compliance with all applicable federal and state securities laws.

            (c) Section 2.2(c) of the Disclosure Schedule sets forth a complete
and accurate list, as of the date of this Agreement, of: (i) all Company Stock
Plans, indicating for each Company Stock Plan the number of Company Shares
issued to date under such Plan, the number of Company Shares subject to
outstanding options under such Plan and the number of Company Shares reserved
for future issuance under such Plan, (ii) all holders of outstanding Options,
indicating with respect to each Option the Company Stock Plan under which it was
granted, the number of Company Shares subject to such Option, the exercise
price, the date of grant, and the vesting schedule (including any acceleration
provisions with respect thereto), and (iii) all holders of outstanding Warrants,
indicating with respect to each Warrant the agreement or other document under
which it was granted, the number of shares of capital stock, and the class or
series of such shares, subject to such Warrant, the exercise price, the date of
issuance and the expiration date thereof. The Company has provided to the Buyer
complete and accurate copies of all Company Stock Plans, forms of all stock
option agreements evidencing Options and all agreements evidencing Warrants. All
of the shares of capital stock of the Company subject to Options and Warrants
will be, upon issuance pursuant to the exercise of such instruments, duly
authorized, validly issued, fully paid, nonassessable and free of all preemptive
rights.

            (d) Except as set forth in Section 2.2(c) or 2.2(d) of the
Disclosure Schedule, (i) no subscription, warrant, option, convertible security
or other right (contingent or otherwise) to purchase or acquire any shares of
capital stock of the Company is authorized or outstanding, (ii) the Company has
no obligation (contingent or otherwise) to issue any subscription, warrant,
option, convertible security or other such right, or to issue or distribute to
holders of any shares of its capital stock any evidences of indebtedness or
assets of the Company, (iii) the Company has no obligation (contingent or
otherwise) to purchase, redeem or otherwise acquire any shares of capital stock
of the Company or any interest therein or to pay any dividend or to make any
other distribution in respect thereof, and (iv) there are no outstanding or
authorized stock appreciation, phantom stock or similar rights with respect to
the Company.

            (e) Except as set forth in Section 2.2(e) of the Disclosure
Schedule, there is no agreement, written or oral, between the Company and any
holder of its securities, or, to the Company's Knowledge, among any holders of
its securities, relating to the sale or transfer (including agreements relating
to rights of first refusal, co sale rights or "drag along" rights), registration
under the Securities Act or the securities laws of any other jurisdiction, or
voting, of the capital stock of the Company.

      2.3 Authorization. The Company and each of the Principal Stockholders have
all requisite power and authority (corporate and other) to execute and deliver
this Agreement and the other agreements contemplated hereby and to perform their
respective obligations hereunder and thereunder. The execution and delivery by
the Company and each of the Principal Stockholders of this Agreement and the
other agreements contemplated hereby and, subject to obtaining the Requisite
Stockholder Approval, which is the only approval required from the Company
Stockholders, the performance by the Company of this Agreement and the
consummation by the Company and each of the Principal Stockholders of the
transactions contemplated hereby and thereby have been duly and validly
authorized by all necessary corporate and other action on the part of the
Company and the Principal Stockholders. Without limiting the generality of the
foregoing, the Board of Directors of the Company, at a meeting duly called and
held,

                                      -12-
<PAGE>

(i) determined that the Merger is advisable, fair and in the best interests of
the Company and its stockholders, (ii) adopted this Agreement in accordance with
the provisions of the Delaware General Corporation Law, and (iii) directed that
this Agreement and the Merger be submitted to the stockholders of the Company
for their adoption and approval and resolved to recommend that the stockholders
of the Company vote in favor of the adoption of this Agreement and the approval
of the Merger. This Agreement and all other agreements contemplated hereby have
been or will be as of the Closing Date duly and validly executed and delivered
by the Company and each of the Principal Stockholders party thereto and
constitutes or will constitute a valid and binding obligation of the Company and
such Principal Stockholders, enforceable against them in accordance with its
terms, except as enforceability may be limited by bankruptcy, insolvency,
moratorium, reorganization or similar laws affecting the rights of creditors
generally and subject to general principles of equity.

      2.4 Noncontravention. Subject to the filing of the Certificate of Merger
as required by the Delaware General Corporation Law, to the filing requirements
of the Hart-Scott-Rodino Act, and to the filing or other regulatory
requirements, if any, of any other applicable U.S. or foreign regulatory body,
neither the execution and delivery by the Company and the Principal Stockholders
of this Agreement or any other agreement contemplated hereby, nor the
performance by the Company and the Principal Stockholders of their respective
obligations hereunder or thereunder, nor the consummation by the Company and the
Principal Stockholders of the transactions contemplated hereby or thereby, will
(a) conflict with or violate any provision of the Certificate of Incorporation
or By-laws of the Company each as amended or restated to date, (b) require on
the part of the Company or, to the Company's Knowledge, any Company Stockholder
any notice to or filing with, or any permit, authorization, consent or approval
of, any Governmental Entity, (c) conflict with, result in a breach of,
constitute (with or without due notice or lapse of time or both) a default
under, result in the acceleration of obligations under, create in any party the
right to accelerate, terminate, modify or cancel, or require any notice, consent
or waiver under, any contract, lease, sublease, license, sublicense, franchise,
permit, indenture, agreement or mortgage for borrowed money, instrument of
indebtedness, Security Interest or other arrangement to which the Company is a
party or by which the Company is bound or to which any of the assets of the
Company are subject, (d) result in the imposition of any Security Interest upon
any assets of the Company or (e) violate any order, writ, injunction, decree,
statute, rule or regulation applicable to the Company or, to the Company's
Knowledge, any Principal Stockholder or any of their respective properties or
assets. Section 2.4 of the Disclosure Schedule sets forth a true, correct and
complete list of all consents and approvals of third parties and Governmental
Entities, and all filings and notices, that are required in connection with the
consummation by the Company and, to the Company's Knowledge, the Principal
Stockholders, of the transactions contemplated by this Agreement.

      2.5 Subsidiaries. The Company has no subsidiaries and does not own or
control, directly or indirectly, any shares of capital stock of any other
corporation or any interest in any partnership, limited liability company, joint
venture, trust or other non-corporate business association, entity or
enterprise.

      2.6 Financial Statements.

            (a) The Company has provided to the Buyer the Financial Statements.
The Financial Statements were prepared in accordance with GAAP applied on a
consistent basis throughout the periods covered thereby; provided, however, that
the Financial Statements referred to in clause (b) of the definition of such
term are subject to normal recurring year-end adjustments (which, individually
and in the aggregate, will not be material) and do not include footnotes.

            (b) Each of the Financial Statements fairly presents the assets,
liabilities, financial position, results of operations and cash flows of the
Company as of the date thereof and for the period referred to therein, and is
consistent with the books and records of the Company. The accruals for

                                      -13-
<PAGE>

vacation expenses, severance payments and Taxes are accounted for on the Most
Recent Balance Sheet and are adequate and properly reflect the expenses
associated therewith in accordance with GAAP.

            (c) The Company maintains accurate books and records reflecting its
assets and liabilities and maintains proper and adequate internal accounting
controls.

            (d) Section 2.6(d) of the Disclosure Schedule lists, and the Company
has delivered to the Buyer copies of the documentation creating or governing all
"off-balance sheet arrangements" (as defined in Item 303 (a)(4) of Regulation
S-K of the SEC) effected by the Company since June 30, 2003.

            (e) The Company has not, since June 30, 2003, extended or maintained
credit, arranged for the extension of credit, modified or renewed an extension
of credit, in the form of a personal loan or otherwise, to or for any director
or executive officer of the Company. Section 2.6(e) of the Disclosure Schedule
identifies any loan or extension of credit maintained by the Company to which
the second sentence of Section 13(k)(1) of the Exchange Act would apply.

            (f) Correia & Associates, the Company's auditors for its 2004, 2005
and 2006 fiscal years and its current auditors, are and have been at all times
since their engagement by the Company for such audits "independent" with respect
to the Company within the meaning of Regulation S-X.

      2.7 Absence of Certain Changes. Since the Most Recent Balance Sheet Date,
(a) there has occurred no event or development which, individually or in the
aggregate, has had, or would reasonably be expected to have in the future, a
Company Material Adverse Effect, and (b) the Company has not taken any of the
actions set forth in paragraphs (a) through (r) of Section 4.4.

      2.8 Undisclosed Liabilities. The Company has no liability (whether known
or unknown, whether absolute or contingent, whether liquidated or unliquidated
and whether due or to become due), except for (a) liabilities shown on the Most
Recent Balance Sheet, a copy of which is attached to Section 2.8 of the
Disclosure Schedule, (b) liabilities which have arisen since the Most Recent
Balance Sheet Date in the Ordinary Course of Business and which are similar in
nature and amount to the liabilities which arose during the comparable period of
time in the immediately preceding fiscal period and (c) contractual and other
liabilities incurred in the Ordinary Course of Business which are not required
by GAAP to be reflected on a balance sheet and that are not in the aggregate
material.

      2.9 Tax Matters.

            (a) The Company has properly filed on a timely basis (after giving
effect to any valid extensions of time in which to make such filings) all Tax
Returns that it was required to file, and all such Tax Returns were correct and
complete in all material respects. The Company has paid on a timely basis all
Taxes that were due and payable. The unpaid Taxes of the Company for Tax periods
through the Most Recent Balance Sheet Date do not exceed the accruals and
reserves for Taxes (excluding accruals and reserves for deferred Taxes
established to reflect timing differences between book and Tax income) set forth
on the Most Recent Balance Sheet and all unpaid Taxes of the Company for all Tax
periods commencing after the Most Recent Balance Sheet Date arose in the
Ordinary Course of Business and are similar in nature and amount to Taxes which
arose during the comparable period of time in the immediately preceding fiscal
year.

            (b) The Company has never been a member of a group of corporations
with which it has filed (or been required to file) consolidated, combined or
unitary Tax Returns, other than a group of which the Company was common parent.
The Company has no actual or potential liability under Treasury Regulations
Section 1.1502-6 (or any comparable or similar provision of federal, state,
local or

                                      -14-
<PAGE>

foreign law), as a transferee or successor, pursuant to any contractual
obligation, or otherwise for any Taxes of any person or entity other than the
Company. The Company has duly and timely withheld and paid to the appropriate
Governmental Entity all Taxes required to be so withheld and paid. The Company
is not a party to or bound by any Tax indemnity, Tax sharing, Tax allocation or
similar agreement.

            (c) The Company has delivered or made available to the Buyer (i)
complete and correct copies of all Tax Returns of the Company relating to Taxes
for all taxable periods ending on or after June 31, 2002 and (ii) complete and
correct copies of all private letter rulings, revenue agent reports, information
document requests, notices of proposed deficiencies, deficiency notices,
protests, petitions, closing agreements, settlement agreements, pending ruling
requests and any similar documents submitted by, received by, or agreed to by or
on behalf of the Company relating to Taxes for all taxable periods for which the
statute of limitations has not yet expired. The federal income Tax Returns of
the Company have been audited by the Internal Revenue Service or are closed by
the applicable statute of limitations for all taxable years through the taxable
year specified in Section 2.9(c) of the Disclosure Schedule. No examination or
audit of any Tax Return of the Company by any Governmental Entity is currently
in progress or, to the Knowledge of the Company, threatened or contemplated. The
Company has not received any written notice or, to the Company's Knowledge, any
other notice from any jurisdiction that such jurisdiction believes that the
Company was required to file any Tax Return that was not filed. The Company has
not (x) waived any statute of limitations with respect to Taxes or agreed to
extend the period for assessment or collection of any Taxes which Taxes have not
been paid, (y) requested any extension of time within which to file any Tax
Return, which Tax Return has not yet been filed, or (z) executed or filed any
power of attorney that is currently in effect with respect to any Taxing matter.

            (d) Except as provided in Section 2.9(d) of the Disclosure Schedule,
the Company has not made any payment, is not obligated to make any payment, nor
is it a party to any agreement that could obligate it to make any payment that
may be treated as an "excess parachute payment" under Section 280G of the Code
(without regard to Sections 280G(b)(4) and 280G(b)(5) of the Code). The Company
is not and has never been required to make a basis reduction pursuant to
Treasury Regulation Section 1.1502-20(b) or Treasury Regulation Section
1.337(d)-2(b).

            (e) None of the assets of the Company (i) is "tax-exempt use
property" within the meaning of Section 168(h) of the Code, or (ii) directly or
indirectly secures any debt the interest on which is tax exempt under Section
103(a) of the Code.

            (f) There are no adjustments under Section 481 of the Code (or any
similar adjustments under any provision of the Code or the corresponding
foreign, state or local Tax laws) that are required to be taken into account by
the Company in any period ending after the Closing Date by reason of a change in
method of accounting in any taxable period ending on or before the Closing Date.

            (g) The Company has not been a United States real property holding
corporation within the meaning of Section 897(c)(2) of the Code during the
applicable period specified in Section 897(c)(l)(A)(ii) of the Code.

            (h) The Company has never participated in an international boycott
as defined in Section 999 of the Code.

            (i) The Company has never distributed to their stockholders or
security holders stock or securities of a controlled corporation, nor has stock
or securities of the Company been distributed, in a transaction to which Section
355 of the Code applies (i) in the two (2) years prior to the date of this
Agreement or (ii) in a distribution that could otherwise constitute part of a
"plan" or "series of

                                      -15-
<PAGE>

related transactions" (within the meaning of Section 355(e) of the Code) that
includes the transactions contemplated by this Agreement.

            (j) Section 2.9(j) of the Disclosure Schedule sets forth each
jurisdiction (other than United States federal) in which the Company files, is
required to file or has been required to file a Tax Return or is or has been
liable for any Taxes on a "nexus" basis.

            (k) The Company has never incurred (or been allocated) an "overall
foreign loss" as defined in Section 904(f)(2) of the Code which has not been
previously recaptured in full as provided in Sections 904(f)(1) and/or 904(f)(3)
of the Code.

            (l) The Company is not a party to a gain recognition agreement under
Section 367 of the Code.

            (m) The Company will not be required to include any item of income
in, or exclude any item of deduction from, taxable income for any period (or any
portion thereof) ending after the Closing Date as a result of any (i) deferred
intercompany gain or any excess loss account described in Treasury Regulations
under Section 1502 of the Code (or any corresponding provision of state, local
or foreign Tax law), (ii) closing agreement as described in Section 7121 of the
Code (or any corresponding or similar provision of state, local or foreign Tax
law) executed on or prior to the Closing Date, (iii) installment sale or other
open transaction disposition made on or prior to the Closing Date or (iv)
prepaid amount received on or prior to the Closing Date.

            (n) There are no liens or other encumbrances with respect to Taxes
upon any of the assets or properties of the Company, other than with respect to
Taxes not yet due and payable.

            (o) To the Company's Knowledge, the Company is not and has never
been a party to a transaction or agreement that is in conflict with the Tax
rules on transfer pricing in any relevant jurisdiction.

            (p) The Company has never engaged in any "listed transaction" for
purposes of Treasury Regulation section 1.6011-4(b)(2) or any analogous
provision of state or local law.

            (q) Section 2.9(q) of the Disclosure Schedule sets forth a complete
and accurate list of all agreements, rulings, settlements or other Tax documents
relating to Tax incentives between the Company and a Governmental Entity.

      2.10 Assets.

            (a) The Company is the true and lawful owner of, and has good title
to, all of the assets (tangible or intangible) reflected on the books and
records of the Company, free and clear of all Security Interests. The Company
owns or leases all tangible assets sufficient for the conduct of its businesses
as presently conducted, which tangible assets (or leases thereof) are reflected
in the Financial Statements (other than to the extent disposed of in the
Ordinary Course of Business). Each such tangible asset has been maintained in
accordance with normal industry practice, is in good operating condition and
repair (subject to normal wear and tear) and is suitable for the purposes for
which it presently is used.

            (b) Section 2.10(b) of the Disclosure Schedule lists individually
(i) all fixed assets (within the meaning of GAAP) of the Company, indicating the
cost, accumulated book depreciation (if any) and the net book value of each such
fixed asset as of the Most Recent Balance Sheet Date, and (ii) all other assets
of a tangible nature (other than inventories) of the Company.

                                      -16-
<PAGE>

      2.11 Owned Real Property. The Company does not own and has never owned,
any real property.

      2.12 Real Property Leases. Section 2.12 of the Disclosure Schedule lists
all Leases and lists the term of such Lease, any extension and expansion
options, and the rent payable, security deposit, maintenance and like charges
thereunder, and any advance rent thereunder. The Company has delivered to the
Buyer complete and accurate copies of the Leases. With respect to each Lease:

            (a) such Lease is legal, valid, binding, enforceable and in full
force and effect against the Company and, to the Company's Knowledge, against
each other party thereto;

            (b) such Lease will continue to be legal, valid, binding,
enforceable and in full force and effect the Company and, to the Company's
Knowledge, against each other party thereto immediately following the Closing,
in accordance with the terms thereof as in effect immediately prior to the
Closing, except as may otherwise result from actions taken solely by the Buyer
(other than actions taken in connection with the consummation of the Merger as
contemplated herein);

            (c) neither the Company nor to the Knowledge of the Company, any
other party to any Lease is in breach or violation of, or default under, any
such Lease, and no event has occurred, is on-going or, to the Knowledge of the
Company, is threatened, which, after the giving of notice, with lapse of time,
or otherwise, would constitute a breach or default by the Company or, to the
Knowledge of the Company, any other party under such Lease;

            (d) there are no disputes, oral agreements or forbearance programs
in effect as to such Lease;

            (e) the Company has not assigned, transferred, conveyed, mortgaged,
deeded in trust or encumbered any interest in the leasehold or subleasehold;

            (f) all facilities leased or subleased thereunder are, to the
Company's Knowledge, supplied with utilities and other services adequate for the
operation of said facilities;

            (g) the Company is not aware of any Security Interest, easement,
covenant or other restriction applicable to the real property subject to such
lease which would reasonably be expected to impair the current uses or the
occupancy by the Company of the property subject thereto;

            (h) no construction, alteration or other leasehold improvement work
with respect to the Lease remains to be paid for or performed by the Company;
and

            (i) the Company is not obligated to pay any leasing or brokerage
commission relating to such Lease and will not have any obligation to pay any
leasing or brokerage commission upon the renewal of the Lease.

      2.13 Intellectual Property.

            (a) Section 2.13(a) of the Disclosure Schedule lists all Company
Registrations, in each case enumerating specifically the applicable filing or
registration number, title, jurisdiction in which filing was made or from which
registration issued, date of filing or issuance, names of all current
applicant(s) and registered owners(s) (if other than the Company), as
applicable. All assignments of Company Registrations to the Company have been
properly executed and recorded. To the Knowledge of the Company, all Company
Registrations are valid and enforceable and all issuance, renewal,

                                      -17-
<PAGE>

maintenance and other payments that are or have become due with respect thereto
have been timely paid by or on behalf of the Company.

            (b) There are no inventorship challenges, opposition or nullity
proceedings or interferences pending, or to the Knowledge of the Company,
threatened, with respect to any Patent Rights included in the Company
Registrations.

            (c) Each item of Company Intellectual Property will be owned or
available for use by the Buyer or a subsidiary of the Buyer following the
Closing on substantially identical terms and conditions as it was immediately
prior to the Closing, except as may otherwise result from actions taken solely
by the Buyer (other than actions taken in connection with the consummation of
the Merger as contemplated herein). Except as set forth in Section 2.13(c) of
the Disclosure Schedule, the Company is the sole and exclusive owner of all
Company Owned Intellectual Property, free and clear of any Security Interests
and all joint owners of the Company Owned Intellectual Property are listed in
Section 2.13(c) of the Disclosure Schedule. The Company Intellectual Property
constitutes all Intellectual Property necessary to conduct the Company's
business in the manner currently conducted by the Company.

            (d) The Company has taken reasonable measures to protect the
proprietary nature of each item of Company Owned Intellectual Property, and to
maintain in confidence all trade secrets and confidential information comprising
a part thereof. The Company has complied with all applicable contractual and
legal requirements pertaining to information privacy and security. No complaint
relating to an improper use or disclosure of, or a breach in the security of,
any such information has been made or, to the knowledge of the Company,
threatened against the Company. To the knowledge of the Company, there has been
no: (i) unauthorized disclosure of any third party proprietary or confidential
information in the possession, custody or control of the Company, or (ii) breach
of the Company's security procedures wherein confidential information has been
disclosed to a third person.

            (e) None of the Customer Offerings, Internal Systems or the
Exploitation thereof by the Company, or any other activity of the Company,
infringes or violates, or constitutes a misappropriation of, any Intellectual
Property rights of any third party. Section 2.13(e) of the Disclosure Schedule
lists any written, or to the Knowledge of the Company, any other complaint,
claim or notice, or threat of any of the foregoing (including any notification
that a license under any patent is or may be required), received by the Company
alleging any infringement, violation or misappropriation and any request or
demand for indemnification or defense received by the Company from any reseller,
distributor, customer, user or any other third party; and the Company has
provided to the Buyer copies of all such complaints, claims, notices, requests,
demands or threats, as well as any legal opinions, studies, market surveys and
analyses relating to any alleged or potential infringement, violation or
misappropriation.

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

            (g) Section 2.13(g) of the Disclosure Schedule identifies each
license, covenant or other agreement pursuant to which the Company has assigned,
transferred, licensed, distributed or otherwise granted any right or access to
any person or entity, or covenanted not to assert any right, with respect to any
Company Intellectual Property (other than non-exclusive licenses to end user
customers entered into in the Ordinary Course of Business). Except as described
in Section 2.13(g) of the Disclosure Schedule, the Company has not agreed to
indemnify any person or entity against any

                                      -18-
<PAGE>

infringement, violation or misappropriation of any Intellectual Property rights
with respect to any Customer Offerings or any third party Intellectual Property
rights. Except as set forth in Section 2.13(g) of the Disclosure Schedule, the
Company is not a member of or party to any patent pool, industry standards body,
trade association or other organization pursuant to the rules of which it is
obligated to license any existing or future Intellectual Property to any person.

            (h) Section 2.13(h) of the Disclosure Schedule identifies (i) each
item of Company Licensed Intellectual Property and the license or agreement
pursuant to which the Company Exploits it (excluding currently-available,
off-the-shelf software programs that are part of the Internal Systems and are
licensed by the Company pursuant to "shrink wrap" licenses, the total fees
associated with which are less than $2,500 per year) and (ii) each agreement,
contract, assignment or other instrument pursuant to which the Company has
obtained any joint or sole ownership interest in or to each item of Company
Owned Intellectual Property. None of the Customer Offerings or Internal Systems
includes "shareware," "freeware" or other Software or other material that was
obtained by the Company from third parties other than pursuant to the license
agreements listed in Section 2.13(h) of the Disclosure Schedule.

            (i) The Company has not licensed, distributed or disclosed, and
knows of no distribution or disclosure by others (including its employees and
contractors) of, the Company Source Code to any person or entity, except
pursuant to the agreements listed in Section 2.13(i) of the Disclosure Schedule,
and the Company has taken all reasonable physical and electronic security
measures to prevent disclosure of such Company Source Code. To the Company's
Knowledge no event has occurred, and no circumstance or condition exists, that
(with or without notice or lapse of time, or both) will, or would reasonably be
expected to, nor will the consummation of the transactions contemplated hereby,
result in the disclosure or release of such Company Source Code by the Company,
its escrow agent(s) or any other person to any third party.

            (j) Except as set forth in Section 2.13(j) of the Disclosure
Schedule, all of the Software and Documentation comprising, incorporated in or
bundled with the Customer Offerings or Internal Systems have been designed,
authored, tested and debugged by regular employees of the Company within the
scope of their employment or by independent contractors of the Company.

            (k) Except as specifically disclosed in Section 2.13(k) of the
Disclosure Schedule, the Company has not (i) incorporated Open Source Materials
into, or combined Open Source Materials with, the Customer Offerings; (ii)
distributed Open Source Materials in conjunction with any other software
developed or distributed by the Company; or (iii) used Open Source Materials
that create, or purport to create, obligations for the Company with respect to
the Customer Offerings or grant, or purport to grant, to any third party, any
rights or immunities under Intellectual Property rights (including, but not
limited to, using any Open Source Materials that require, as a condition of
Exploitation of such Open Source Materials, that other Software incorporated
into, derived from or distributed with such Open Source Materials be (x)
disclosed or distributed in source code form, (y) licensed for the purpose of
making derivative works, or (z) redistributable at no charge or minimal charge).

            (l) Each current and former employee of the Company and each current
and former independent contractor of the Company has executed a valid and
binding written agreement expressly assigning to the Company all right, title
and interest in any copyrightable materials, inventions and works of authorship,
whether or not patentable, invented, created, developed, conceived and/or
reduced to practice during the term of such employee's employment or such
independent contractor's work for the Company, and all Intellectual Property
rights therein, and has waived all non-assignable rights (including moral
rights) therein in favor of the Company and its permitted assigns and licensees
to the extent legally permissible. No current or former employee or independent
contractor of the Company has any residual

                                      -19-
<PAGE>

claim to any such copyrightable materials, inventions, works of authorship or
any Intellectual Property rights therein.

            (m) The Customer Offerings and the Internal Systems conform to the
written Documentation and specifications therefor. To the Company's Knowledge,
the Customer Offerings and the Internal Systems do not contain any disabling
device, virus, worm, back door, Trojan horse or other disruptive or malicious
code that may or are intended to impair their intended performance or otherwise
permit unauthorized access to, hamper, delete or damage any computer system,
software, network or data. Since September 1, 2002, the Company has not received
any warranty claims, contractual terminations or requests for settlement or
refund due to the failure of the Customer Offerings to meet their specifications
or otherwise to satisfy end user needs or for harm or damage to any third party
except as set forth in Section 2.13(m) of the Disclosure Schedule.

            (n) The Company has neither sought, applied for nor received any
support, funding, resources or assistance from any federal, state, local or
foreign governmental or quasi-governmental agency or funding source in
connection with the Exploitation of the Customer Offerings, the Internal Systems
or any facilities or equipment used in connection therewith.

      2.14 Inventory. Other than general office supplies, the Company does not
maintain any inventory.

      2.15 Contracts.

            (a) Section 2.15(a) of the Disclosure Schedule lists the following
agreements to which the Company is a party (each a "Contract"):

                  (i) any agreement (or group of related agreements) for the
lease of personal property from or to third parties;

                  (ii) any agreement (or group of related agreements) for the
purchase or sale of products or for the furnishing or receipt of services (A)
which calls for performance over a period of more than eighteen months, (B)
which involves more than the sum of $35,000, or (C) in which the Company has
granted manufacturing rights, "most favored nation" pricing provisions or
marketing or distribution rights relating to any services, products or territory
or has agreed to purchase a minimum quantity of goods or services or has agreed
to purchase goods or services exclusively from a certain party;

                  (iii) any agreement concerning the establishment or operation
of a partnership, joint venture or limited liability company;

                  (iv) any agreement (or group of related agreements) under
which the Company has created, incurred, assumed or guaranteed (or may create,
incur, assume or guarantee) indebtedness (including capitalized lease
obligations) or under which it has imposed (or may impose) a Security Interest
on any of its assets, tangible or intangible;

                  (v) any agreement for the disposition of any significant
portion of the assets or business of the Company (other than sales of products
and dispositions of obsolete equipment, in each case in the Ordinary Course of
Business) or any agreement for the acquisition of the assets or business of any
other entity (other than purchases of inventory or components in the Ordinary
Course of Business);

                  (vi) any agreement concerning confidentiality, noncompetition
or non-solicitation (other than confidentiality agreements with customers or
employees of the Company set forth

                                      -20-
<PAGE>

in the Company's standard terms and conditions of sale or standard form of
employment agreement, copies of which have previously been delivered to the
Buyer);

                  (vii) any employment agreement, consulting agreement,
severance agreement (or agreement that includes provisions for the payment of
severance) or retention agreement, other than those that are terminable by the
Company without cost to the Company and on less than 60 days advance notice;

                  (viii) any settlement agreement or settlement-related
agreement (including any agreement in connection with which any
employment-related claim is settled), other than any such agreement involving
only the payment of cash consideration of less than $25,000;

                  (ix) any agreement with any current or former officer,
director or stockholder of the Company or an Affiliate thereof;

                  (x) any agreement under which the consequences of a default or
termination would reasonably be expected to have a Company Material Adverse
Effect;

                  (xi) any agency, distributor, sales representative, franchise
or similar agreements to which the Company is a party or by which the Company is
bound involving total consideration of more than $35,000;

                  (xii) any agreement which contains any provisions requiring
the Company to indemnify any other party (excluding indemnities contained in
agreements for the purchase, sale or license of products or services entered
into in the Ordinary Course of Business);

                  (xiii) any agreement that would reasonably be expected to have
the effect of prohibiting or materially impairing the conduct of the business of
the Company or the Buyer or any of its subsidiaries as currently conducted; and

                  (xiv) any other agreement (or group of related agreements)
either involving total consideration of more than $35,000 or not entered into in
the Ordinary Course of Business.

            (b) The Company has delivered to the Buyer a complete and accurate
copy of each Contract (as amended to date). With respect to each Contract: (i)
the Contract is legal, valid, binding and enforceable and in full force and
effect against the Company and, to the Company's Knowledge, against each other
party thereto, except as enforceability may be limited by bankruptcy,
insolvency, moratorium, reorganization or similar laws affecting the rights of
creditors generally, and subject to general principles of equity; (ii) the
Contract will continue to be legal, valid, binding and enforceable and in full
force and effect against the Company and, to the Company's Knowledge, against
each other party thereto immediately following the Closing, in accordance with
the terms thereof as in effect immediately prior to the Closing, except as may
otherwise result from actions taken solely by the Buyer (other than actions
taken in connection with the consummation of the Merger as contemplated herein)
and except as enforceability may be limited by bankruptcy, insolvency,
moratorium, reorganization or similar laws affecting the rights of creditors
generally, and subject to general principles of equity; and (iii) neither the
Company nor, to the Knowledge of the Company, any other party is in breach or
violation of, or default under, any such Contract, and no event has occurred, is
pending or, to the Knowledge of the Company, is threatened, which, after the
giving of notice, with lapse of time, or otherwise, would constitute a breach or
default by the Company or, to the Knowledge of the Company, any other party
under such Contract.

                                      -21-
<PAGE>

            (c) The Company is not a party to any oral contract, agreement or
other arrangement which, if reduced to written form, would be required to be
listed in Section 2.15(a) of the Disclosure Schedule under the terms of Section
2.15(a). The Company is not a party to any written or oral arrangement (i) to
perform services or sell products which is expected to be performed at, or to
result in, a loss or (ii) for which the customer has already been billed or paid
that have not been fully accounted for on the Most Recent Balance Sheet.

      2.16 Accounts Receivable. All accounts receivable of the Company reflected
on the Most Recent Balance Sheet (other than those paid since such date) are
valid receivables subject to no setoffs or counterclaims and are current and
collectible (within 120 days after the date on which it first became due and
payable), net of the applicable reserve for bad debts on the Most Recent Balance
Sheet. A complete and accurate list of the accounts receivable reflected on the
Most Recent Balance Sheet, showing the aging thereof, is included in Section
2.16 of the Disclosure Schedule. All accounts receivable of the Company that
have arisen since the Most Recent Balance Sheet Date are valid receivables
subject to no setoffs or counterclaims and are collectible (within 120 days
after the date on which it first became due and payable), net of a reserve for
bad debts in an amount proportionate to the reserve shown on the Most Recent
Balance Sheet. The Company has not received any written notice from an account
debtor stating that any account receivable in an amount in excess of $5,000 is
subject to any contest, claim or setoff by such account debtor.

      2.17 Powers of Attorney. There are no outstanding powers of attorney
executed on behalf of the Company.

      2.18 Insurance. Section 2.18 of the Disclosure Schedule lists each
insurance policy (including fire, theft, casualty, comprehensive general
liability, workers compensation, business interruption, environmental, product
liability and automobile insurance policies and bond and surety arrangements) to
which the Company is a party, a named insured or otherwise the beneficiary of
coverage, all of which are in full force and effect. There is no claim pending
under any such policy as to which coverage has been questioned, denied or
disputed by the underwriter of such policy. All premiums due and payable under
all such policies have been paid, the Company may not be liable for retroactive
premiums or similar payments, and the Company is otherwise in compliance with
the terms of such policies. The Company has no Knowledge of any threatened
termination of, or premium increase with respect to, any such policy. Each such
policy will continue to be enforceable and in full force and effect immediately
following the Closing in accordance with the terms thereof as in effect
immediately prior to the Closing, except as may otherwise result from actions
taken solely by the Buyer (other than actions taken in connection with the
consummation of the Merger as contemplated herein). Section 2.18 of the
Disclosure Schedule identifies all claims asserted by the Company pursuant to
any insurance policy since September 1, 2002 and summarizes the nature and
status of each such claim.

      2.19 Litigation. There is no Legal Proceeding which is pending or has been
threatened in writing against the Company. There are no judgments, orders or
decrees outstanding against the Company.

      2.20 Warranties.

            (a) No service or product provided, manufactured, sold, leased,
licensed or delivered by the Company is subject to any guaranty, warranty, right
of return, right of credit or other indemnity other than (i) terms and
conditions of sale or lease which impose no greater obligation on the Company
than those set forth in Section 2.20(a) of the Disclosure Schedule, and (ii)
manufacturers' warranties for which the Company has no liability. Section
2.20(a) of the Disclosure Schedule sets forth the aggregate expenses incurred by
the Company in fulfilling their obligations under their guaranty, warranty,
right of

                                      -22-
<PAGE>

return and indemnity provisions during each of the fiscal years and the interim
period covered by the Financial Statements; and the Company does not know of any
reason why such expenses should significantly increase as a percentage of sales
in the future.

            (b) The Company has no liability to any customer in connection with
any service provided or product manufactured, sold, leased or delivered by the
Company to provide the customer with any other services or products of the
Company on pre-negotiated terms, including without limitation for upgrades to
other services or products at prices below the Company's published price for
such services or products, other than volume discounts offered to customers in
the Ordinary Course of Business. The Company has no liability to any customer in
connection with any service provided or product manufactured, sold, leased or
delivered by the Company other than those arising in the Ordinary Course of
Business.

      2.21 Employees.

            (a) Section 2.21(a) of the Disclosure Schedule contains a list of
all employees of the Company, along with the position, date of hire, annual rate
of compensation (or with respect to employees compensated on an hourly or per
diem basis, the hourly or per diem rate of compensation), estimated or target
annual incentive compensation of each such person and employment status of each
such person (including whether the person is on leave of absence and the dates
of such leave). Each of such employees is retained at-will and none of such
employees is a party to an employment agreement or contract with the Company.
Each current employee of the Company has entered into the Company's standard
form of confidentiality, non-solicitation and intellectual property agreement, a
copy of which has previously been delivered to the Buyer. All of the agreements
referenced in the preceding sentence will continue to be legal, valid, binding
and enforceable and in full force and effect immediately following the Closing
in accordance with the terms thereof as in effect immediately prior to the
Closing, except as may otherwise result from actions taken solely by the Buyer
(other than those actions taken in connection with the consummation of the
Merger as contemplated herein). Section 2.21(a) of the Disclosure Schedule
contains a list of all employees of the Company who are not citizens of the
United States. To the Knowledge of the Company, no key employee or group of
employees has any plans to terminate employment with the Company. The Company is
in compliance with all applicable laws relating to the employment of employees,
including, without limitation, the hiring and termination of employees.

            (b) The Company is not a party to or bound by any collective
bargaining agreement, nor has any of them experienced any actual or threatened
strikes, grievances, claims of unfair labor practices or other collective
bargaining disputes. The Company has no Knowledge of any organizational effort
made or threatened (including, without limitation, the filing of a petition for
certification) either currently or within the past two years, by or on behalf of
any labor union with respect to employees of the Company.

            (c) None of the Company or any of the Principal Stockholders, any
director, officer or other key employee of the Company, or to the Company's
Knowledge, any Affiliate of any of the foregoing, has any existing undisclosed
contractual relationship with the Company.

            (d) None of the Company or, to the Company's Knowledge, any
director, officer or other key employee of the Company or any Affiliate of any
of the foregoing (excluding the Principal Stockholders) owns, directly or
indirectly, individually or collectively, any interest in any entity which is in
a business similar or competitive to the business of the Company.

            (e) Section 2.21(e) of the Disclosure Schedule contains a list of
all independent contractors currently engaged by the Company to whom the Company
has paid or expects to pay total

                                      -23-
<PAGE>

consideration in excess of $35,000, along with the position, date of retention
and rate of remuneration for each such person or entity. Except as set forth in
Section 2.21(e) of the Disclosure Schedule, none of such independent contractors
is a party to a written agreement or contract with the Company. Each such
independent contractor has entered into the Company's standard form of
confidentiality, non-solicitation and intellectual property agreement with the
Company, a copy of which has previously been delivered to the Buyer.

            (f) Section 2.21(f) of the Disclosure Schedule sets forth a list of
each employee of the Company who is providing services in the United States and
who holds a temporary work authorization ("Work Permit"), including H-1B, TN,
E-1, E-2, L-1, F-1 or J-1 visa status or Employment Authorization Document
("EAD") work authorizations, setting forth the name of such employee, the type
of Work Permit and the length of time remaining on such Work Permit. With
respect to each Work Permit, all of the information that the Company provided to
the United States Department of Labor ("DOL") and the United States Department
of Homeland Security ("DOHS") in the applications for such Work Permit was, to
the Knowledge of the Company, true and complete at the time of filing such
applications and the Company continues to adhere to its obligations thereunder.
The Company received the appropriate notice of approval or other evidence of
authorized employment from the DOHS, the DOL, the Department of State or other
relevant Governmental Entity with respect to each such Work Permit. The Company
has not received any notice from the DOHS or any other Governmental Entity that
any Work Permit has been revoked. There is no action pending or, to the
Knowledge of the Company, threatened to revoke or adversely modify the terms of
any of the Work Permits.

            (g) The Company has withheld and paid to the appropriate
Governmental Entity or is holding for payment not yet due to such Governmental
Entity all amounts required to be withheld from its employees and is not liable
for any arrears of wages, Taxes, penalties or other sums for failure to comply
with any of the foregoing. There are no, and since September 30, 2002 there have
not been, any independent contractors who have provided services to the Company
for a period of twelve consecutive months or longer.

            (h) Section 2.21(h) of the Disclosure Schedule contains a complete
and accurate list of (i) all of the Company's written employee handbooks,
employment manuals, employment policies, or affirmative action plans, and (ii)
written summaries of all unwritten employment policies adopted or implemented by
the Company.

            (i) The Company has never caused and will not cause any "employment
loss" (as that term is defined or used in the Worker Adjustment Retraining
Notification Act) at any time from the date that is 90 days immediately
preceding the Company's execution of this Agreement and continuing through the
Closing Date.

            (j) The Company has not incurred, and no circumstances exist under
which the Company would reasonably be expected to incur, any liability arising
from the misclassification of employees as consultants or independent
contractors, or from the misclassification of consultants or independent
contractors as employees.

      2.22 Employee Benefits.

            (a) Section 2.22(a) of the Disclosure Schedule contains a complete
and accurate list of all Company Plans. Complete and accurate copies of (i) all
Company Plans which have been reduced to writing, together with all amendments
thereto (ii) written summaries of all unwritten Company Plans, (iii) all related
trust agreements, insurance contracts and summary plan descriptions, and (iv)
all annual reports filed on IRS Form 5500, 5500C or 5500R (including all
schedules, financial statements and any

                                      -24-
<PAGE>

other attachments thereto) for the last three plan years for each Company Plan,
have been delivered or made available to the Buyer. All Company Plans comply
with applicable California law to the extent not preempted by ERISA, the Code or
other federal law.

            (b) Each Company Plan has been administered in accordance with its
terms and each of the Company and the ERISA Affiliates has met its obligations
with respect to each Company Plan and has timely made all required contributions
thereto. The Company, each ERISA Affiliate and each Company Plan are in
compliance with the currently applicable provisions of ERISA and the Code and
the regulations thereunder (including Section 4980B of the Code, Subtitle K,
Chapter 100 of the Code and Sections 601 through 608 and Section 701 et seq. of
ERISA). All filings and reports as to each Company Plan required to have been
submitted to the Internal Revenue Service or to the DOL have been timely
submitted.

            (c) There are no Legal Proceedings (except claims for benefits
payable in the normal operation of the Company Plans and proceedings with
respect to qualified domestic relations orders) against or involving any Company
Plan or asserting any rights or claims to benefits under any Company Plan that
could give rise to any liability. No Company Plan is or within the last three
calendar years has been the subject of, or has received written notice that it
is the subject of, examination by a Governmental Entity or a participant in a
government sponsored amnesty, voluntary compliance or similar program.

            (d) All the Company Plans that are intended to be qualified under
Section 401(a) of the Code have received determination letters from the Internal
Revenue Service to the effect that such Company Plans are qualified and the
plans and the trusts related thereto are exempt from federal income taxes under
Sections 401(a) and 501(a), respectively, of the Code, no such determination
letter has been revoked and the Company has not received any written notice from
the Internal Revenue Service threatening revocation of any such determination
letter. No act or omission has occurred, that would adversely affect the
qualification of any such Plan. There has been no termination or partial
termination of such a Company Plan. Each Company Plan which is required to
satisfy Section 401(k)(3) or Section 401(m)(2) of the Code has been tested for
compliance with, and satisfies the requirements of Section 401(k)(3) and Section
401(m)(2) of the Code for each plan year ending prior to the Closing Date. Each
Company Plan that provides for compliance with Section 404(c) of ERISA or is
intended to comply with such provision, so complies.

            (e) Neither the Company nor any ERISA Affiliate has ever maintained
or contributed to an Employee Benefit Plan subject to Section 412 of the Code or
Title IV of ERISA. At no time has the Company or any ERISA Affiliate been
obligated to contribute to any "multiemployer plan" (as defined in Section
4001(a)(3) of ERISA).

            (f) No Company Plan has assets that include securities issued by the
Company or any ERISA Affiliate.

            (g) With respect to the Company Plans, there are no benefit
obligations for which contributions have not been made or properly accrued and
there are no benefit obligations which have not been accounted for by reserves,
or otherwise properly footnoted in accordance with GAAP, on the Financial
Statements. The Company has no liability for benefits (contingent or otherwise)
under any Company Plan, except as set forth on the Financial Statements. The
assets of each Company Plan which is funded are reported at their fair market
value on the books and records of such Employee Benefit Plan. There are no
unfunded obligations under any Company Plan providing benefits after termination
of employment to any employee of the Company (or to any beneficiary of any such
employee), including but not limited to retiree health coverage and deferred
compensation, but excluding continuation of health coverage required to be
continued under Section 4980B of the Code or other applicable law and insurance

                                      -25-
<PAGE>

conversion privileges under state law, but only to the extent that such
continuation of coverage is provided solely at the participant's or
beneficiary's expense.

            (h) No act or omission has occurred and no condition exists with
respect to any Company Plan that would subject the Buyer, the Company or any
ERISA Affiliate to (i) any fine, penalty, Tax or liability of any kind imposed
under ERISA or the Code or (ii) any contractual indemnification or contribution
obligation protecting any fiduciary, insurer or service provider with respect to
any Company Plan, nor will the transactions contemplated by this Agreement give
rise to any such liability.

            (i) No Company Plan is funded by, associated with or related to a
"voluntary employee's beneficiary association" within the meaning of Section
501(c)(9) of the Code.

            (j) Each Company Plan is amendable and terminable unilaterally by
the Company at any time without liability or expense (other than administrative
and legal expenses related to such amendment or termination) to the Company or
such Company Plan as a result thereof (other than for benefits accrued through
the date of termination or amendment and reasonable administrative expenses
related thereto) and no Company Plan, plan documentation or agreement, summary
plan description or other written communication distributed generally to
employees by its terms prohibits the Company from amending or terminating any
such Company Plan, or in any way limit such action.

            (k) Section 2.22(k) of the Disclosure Schedule discloses each: (i)
agreement with any stockholder, director, executive officer or other key
employee of the Company (A) the benefits of which are contingent, or the terms
of which are altered, upon the occurrence of a transaction involving the Company
of the nature of any of the transactions contemplated by this Agreement, (B)
providing any term of employment or compensation guarantee or (C) providing
severance benefits or other benefits after the termination of employment of such
director, executive officer or key employee; (ii) agreement, plan or arrangement
under which any person may receive payments from the Company that may be subject
to the tax imposed by Section 4999 of the Code or included in the determination
of such person's "parachute payment" under Section 280G of the Code; and (iii)
agreement or plan binding the Company, including any stock option plan, stock
appreciation right plan, restricted stock plan, stock purchase plan, severance
benefit plan or Company Plan, any of the benefits of which will be increased, or
the vesting of the benefits of which will be accelerated, by the occurrence of
any of the transactions contemplated by this Agreement or the value of any of
the benefits of which will be calculated on the basis of any of the transactions
contemplated by this Agreement.

            (l) Section 2.22(l) of the Disclosure Schedule sets forth the policy
of the Company with respect to accrued vacation, accrued sick time and earned
time off and the amount of such liabilities as of June 30, 2006.

            (m) Section 2.22(m) of the Disclosure Schedule sets forth all
bonuses earned by the Company's employees through the Closing Date that are
expected to be accrued on the Closing Balance Sheet but unpaid as of the Closing
Date.

            (n) There are no loans or extensions of credit from the Company or
any ERISA Affiliate to any employee of or independent contractor to the Company.

            (o) There is no plan or commitment, whether legally binding or not,
to create any additional Company Plans or to modify any existing Company Plans
with respect to employees of the Company.

                                      -26-
<PAGE>

            (p) There is no corporate-owned life insurance (COLI), split-dollar
life insurance policy or any other life insurance policy on the life of any
employee of the Company or on any Company Stockholder.

            (q) Each Company Plan that is a "nonqualified deferred compensation
plan" (as defined in Code Section 409A(d)(1)) has been operated since January 1,
2005 in good faith compliance with Code Section 409A and IRS Notice 2005-1 (or
an applicable exemption therefrom) such that amounts of compensation deferred
thereunder will not be includible in gross income under Section 409A prior to
the distribution of benefits in accordance with the terms of the plan and will
not be subject to the additional tax under Code Section 409A(a)(1)(B)(ii). No
stock option granted under any Company Plan has an exercise price that has been
or may be less than the fair market value of the underlying stock or equity
units (as the case may be) as of the date such option was granted or has any
feature for the deferral of compensation other than the deferral of recognition
of income until the later of exercise or disposition of such option.

      2.23 Environmental Matters.

            (a) The Company has complied with all applicable Environmental Laws.
There is no pending or, to the Knowledge of the Company, threatened civil or
criminal litigation, written notice of violation, administrative proceeding, or
investigation, inquiry or information request by any Governmental Entity,
relating to any Environmental Law involving the Company.

            (b) The Company has no liabilities or obligations arising from the
release of any Materials of Environmental Concern into the environment.

            (c) The Company is not a party to or bound by any court order,
administrative order, consent order or other agreement between the Company and
any Governmental Entity entered into in connection with any legal obligation or
liability arising under any Environmental Law.

            (d) Set forth in Section 2.23(d) of the Disclosure Schedule is a
list of all documents (whether in hard copy or electronic form) that contain any
environmental reports, investigations and audits relating to premises currently
or previously owned or operated by the Company (whether conducted by or on
behalf of the Company or a third party, and whether done at the initiative of
the Company or directed by a Governmental Entity or other third party) which the
Company has possession of or access to. A complete and accurate copy of each
such document has been provided to the Buyer.

            (e) The Company is not aware of any environmental liability of any
solid or hazardous waste transporter or treatment, storage or disposal facility
that has been used by the Company.

      2.24 Legal Compliance.

            (a) The Company is currently conducting, and has at all times since
September 1, 2002 conducted, its business in compliance with each applicable law
(including rules and regulations thereunder) of any federal, state, local or
foreign government, or any Governmental Entity. The Company has not, since
September 1, 2002, received any notice or communication from any Governmental
Entity alleging noncompliance with any applicable law, rule or regulation.

            (b) Neither the Company nor any officer, director, employee or agent
thereof or, to the Knowledge of the Company, any Company Stockholder acting on
behalf of the Company, has condoned any act or authorized, directed or
participated in any act in violation of any provision of the

                                      -27-
<PAGE>

United States and Foreign Corrupt Practices Act of 1977, as applied to such
officer, director, employee, agent or Company Stockholder.

      2.25 Customers and Suppliers. Section 2.25 of the Disclosure Schedule sets
forth a list of (a) each customer of the Company during the last full fiscal
year and the interim period through the Most Recent Balance Sheet Date and the
amount of revenues accounted for by such customer during each such period, (b)
each customer who receives products or services from or through the Company that
requires any custom functionalities and (c) each supplier that has been the sole
supplier of any significant product or service to the Company during the last
full fiscal year or the interim period through the Most Recent Balance Sheet
Date. No such customer or supplier has advised the Company in writing within the
past year that it will stop, or decrease the rate of, buying materials, products
or services or supplying materials, products or services, as applicable, to the
Company. No unfilled customer order or commitment obligating the Company to
process, manufacture, provide or deliver products or perform services will
result in a loss to the Company upon completion of performance. No outstanding
purchase order or commitment of the Company is in excess of normal requirements,
nor are prices provided therein in excess of current market prices for the
products or services to be provided thereunder.

      2.26 Permits. Section 2.26 of the Disclosure Schedule sets forth a list of
all Permits issued to or held by the Company. Such listed Permits are the only
Permits that are required for the Company to conduct its business as presently
conducted. Each such Permit is in full force and effect; the Company is in
compliance with the terms of each such Permit; and, to the Knowledge of the
Company, no suspension, cancellation or nonrenewal of such Permit is threatened.
Each such Permit will continue in full force and effect immediately following
the Closing, except as may otherwise result from actions taken solely by the
Buyer (other than actions taken in connection with the consummation of the
Merger as contemplated herein).

      2.27 Certain Business Relationships With Affiliates. No Principal
Stockholder or Affiliate of the Company or any Principal Stockholder (a) owns
any property or right, tangible or intangible, which is used in the business of
the Company, (b) has any claim or cause of action against the Company, (c) owes
any money to, or is owed any money by, the Company, or (d) is a party to any
contract or other arrangement (written or oral) with the Company. Section 2.27
of the Disclosure Schedule describes any transactions or relationships between
the Company and any Affiliate thereof which occurred or have existed since the
beginning of the time period covered by the Financial Statements.

      2.28 Brokers' Fees. Neither the Company nor any of the Principal
Stockholders has any liability or obligation to pay any fees or commissions to
any broker, finder or agent with respect to the transactions contemplated by
this Agreement.

      2.29 Books and Records. The minute books and other similar records of the
Company contain complete and accurate records of all actions taken at any
meetings of the Company's stockholders, Board of Directors or any committee
thereof and of all written consents executed in lieu of the holding of any such
meeting. The books and records of the Company accurately reflect the assets,
liabilities, financial condition and results of operations of the Company and
have been maintained in accordance with good business and bookkeeping practices.
Section 2.29 of the Disclosure Schedule contains a list of all bank accounts and
safe deposit boxes of the Company and the names of persons having signature
authority with respect thereto or access thereto.

      2.30 Prepayments, Prebilled Invoices and Deposits.

            (a) Section 2.30(a) of the Disclosure Schedule sets forth the
aggregate amount of all prepayments, prebilled invoices and deposits that have
been received by the Company as of the date of

                                      -28-
<PAGE>

this Agreement from customers for products to be shipped, or services to be
performed, after the Closing Date. All such prepayments, prebilled invoices and
deposits are properly accrued for on the Most Recent Balance Sheet, and will be
properly accrued for on the Closing Balance Sheet, in accordance with GAAP
applied on a consistent basis with the past practice of the Company.

            (b) Section 2.30(b) of the Disclosure Schedule sets forth the
aggregate amount of all prepayments, prebilled invoices and deposits that have
been made or paid by the Company as of the date of this Agreement for products
to be purchased, services to be performed or other benefits to be received after
the Closing Date. All such prepayments, prebilled invoices and deposits are
properly accrued for on the Most Recent Balance Sheet, and will be properly
accrued for on the Closing Balance Sheet, in accordance with GAAP applied on a
consistent basis with the past practice of the Company.

      2.31 Investment Questionnaires. Each of the Company Stockholders listed in
Section 2.31 of the Disclosure Schedule has completed, executed and delivered to
the Company an Investment Representation Letter substantially in the form
attached hereto as Exhibit A dated as of a recent date, and copies of all such
executed Investment Representation Letters have been provided to the Buyer. The
Company has no reason to believe that the statements set forth therein are not
true.

      2.32 Government Contracts. The Company has not been suspended or debarred
from bidding on contracts or subcontracts with any Governmental Entity; no such
suspension or debarment has been initiated or, to the Knowledge of the Company,
threatened; and the consummation of the transactions contemplated by this
Agreement will not result in any such suspension or debarment of the Company or
the Buyer (assuming that no such suspension or debarment will result solely from
the identity of the Buyer). The Company is not now and has never been audited
or, to the Company's Knowledge, investigated by the United States Government
Accounting Office, the United States Department of Defense or any of its
agencies, the Defense Contract Audit Agency, the contracting or auditing
function of any Governmental Entity with which it is contracting, the United
States Department of Justice, the Inspector General of the United States
Governmental Entity, or any prime contractor with a Governmental Entity; nor, to
the Knowledge of the Company, has any such audit or investigation been
threatened. To the Knowledge of the Company, there is no valid basis for (i) the
suspension or debarment of the Company from bidding on contracts or subcontracts
with any Governmental Entity or (ii) any claim (including any claim for return
of funds to the Government) pursuant to an audit or investigation by any of the
entities named in the foregoing sentence. The Company is not party to any
agreements, contracts or commitments which require it to obtain or maintain a
security clearance with any Governmental Entity.

      2.33 Disclosure. No representation or warranty by the Company contained in
this Agreement, and no statement contained in the Disclosure Schedule or any
other document, certificate or other instrument delivered or to be delivered by
or on behalf of the Company pursuant to this Agreement, contains or will contain
any untrue statement of a material fact or omits or will omit to state any
material fact necessary, in light of the circumstances under which it was or
will be made, in order to make the statements herein or therein not misleading.

                                   ARTICLE III
                   REPRESENTATIONS AND WARRANTIES OF THE BUYER
                          AND THE TRANSITORY SUBSIDIARY

      Each of the Buyer and the Transitory Subsidiary represents and warrants to
the Company that the statements contained in this Article III are true and
correct as of the date of this Agreement and will be true and correct as of the
Closing as though made as of the Closing, except to the extent such
representations and warranties are specifically made as of a particular date (in
which case such representations and warranties will be true and correct as of
such date):

                                      -29-
<PAGE>

      3.1 Organization and Corporate Power. Each of the Buyer and the Transitory
Subsidiary is a corporation duly organized, validly existing and in corporate
and tax good standing under the laws of the state of its incorporation. The
Buyer has all requisite power and authority (corporate and other) to carry on
the businesses in which it is engaged and to own and use the properties owned
and used by it. The Buyer has furnished the Company and the Representative
complete and accurate copies of its certificate of incorporation and bylaws,
each as amended to date.

      3.2 Authorization of Transaction. Each of the Buyer and the Transitory
Subsidiary has all requisite power and authority (corporate and other) to
execute and deliver this Agreement and (in the case of the Buyer) the Escrow
Agreement and to perform its obligations hereunder and thereunder. The execution
and delivery by the Buyer and the Transitory Subsidiary of this Agreement and
(in the case of the Buyer) the Escrow Agreement and the consummation by the
Buyer and the Transitory Subsidiary of the transactions contemplated hereby and
thereby have been duly and validly authorized by all necessary corporate action
on the part of the Buyer and the Transitory Subsidiary, respectively. This
Agreement has been duly and validly executed and delivered by the Buyer and the
Transitory Subsidiary and constitutes a valid and binding obligation of the
Buyer and the Transitory Subsidiary, enforceable against them in accordance with
its terms.

      3.3 Noncontravention. Subject to compliance with the applicable
requirements of the Securities Act and any applicable state securities laws, the
Exchange Act, to the filing requirements of the Hart-Scott-Rodino Act, and to
the filing or other regulatory requirements, if any, of any other applicable
U.S. or foreign regulatory body and the filing of the Certificate of Merger as
required by the Delaware General Corporation Law, neither the execution and
delivery by the Buyer or the Transitory Subsidiary of this Agreement or (in the
case of the Buyer) the Escrow Agreement, nor the performance by the Buyer or the
Transitory Subsidiary of their respective obligations hereunder or thereunder,
nor the consummation by the Buyer or the Transitory Subsidiary of the
transactions contemplated hereby or thereby, will (a) conflict with or violate
any provision of the charter or By-laws of the Buyer or the Transitory
Subsidiary, (b) require on the part of the Buyer or the Transitory Subsidiary
any filing with, or permit, authorization, consent or approval of, any
Governmental Entity, (c) conflict with, result in breach of, constitute (with or
without due notice or lapse of time or both) a default under, result in the
acceleration of obligations under, create in any party any right to accelerate,
terminate, modify or cancel, or require any notice, consent or waiver under, any
contract ,lease, sublease, license, sublicense, franchise, permit, indenture,
agreement or mortgage for borrowed money, instrument of indebtedness, Security
Interest or other agreement to which the Buyer or the Transitory Subsidiary is a
party or by which either is bound or to which any of their assets are subject,
or (d) violate any order, writ, injunction, decree, statute, rule or regulation
applicable to the Buyer or the Transitory Subsidiary or any of their properties
or assets.

      3.4 Broker's Fees. The Buyer has no liability or obligation to pay any
fees or commissions to any broker, finder or agent with respect to the
transactions contemplated by this Agreement.

      3.5 Investment Representation. The Buyer is acquiring the Company Shares
from each Company Stockholder for its own account for investment and not with a
view to, or for sale in connection with, any distribution thereof, nor with any
present intention of distributing or selling the same; and, except as
contemplated by this Agreement and the agreements contemplated herein, the Buyer
has no present or contemplated agreement, undertaking, arrangement, obligation,
indebtedness or commitment providing for the disposition thereof.

      3.6 Capitalization.

            (a) The authorized capital stock of the Buyer consists of (i)
700,000,000 Buyer Common Shares, of which, as of November 7, 2006, 156,428,630
shares were issued and outstanding and

                                      -30-
<PAGE>

no shares were held in the treasury of the Buyer, and (ii) 5,000,000 Preferred
Shares, of which 700,000 shares have been designated as Series A Junior
Participating Preferred Stock, of which, as of the date of this Agreement, no
shares were issued and outstanding.

            (b) All of the Merger Shares have been duly authorized and, when
issued and delivered in accordance with this Agreement, will have been validly
issued, fully paid and nonassessable and free of all preemptive rights arising
under the Buyer's Certificate of Incorporation or Bylaws, the Delaware General
Corporation Law statute or any agreement to which the Buyer is a party.

      3.7 WKSI Status. The Buyer qualifies as a "well known seasoned issuer"
under applicable rules and regulations of the SEC and it is eligible to file a
registration statement on Form S-3 with the SEC covering the Merger Shares.

      3.8 Reorganization. As of the date hereof, the Buyer is not aware of any
fact or circumstance that would be reasonably be expected to prevent the merger
from qualifying as a "reorganization" within the meaning of Section 368 of the
Code.

      3.9 Disclosure. No representation or warranty by the Buyer contained in
this Agreement, and no statement contained in any other document, certificate or
other instrument delivered or to be delivered by or on behalf of the Buyer
pursuant to this Agreement, contains or will contain any untrue statement of a
material fact or omits or will omit to state any material fact necessary, in
light of the circumstances under which it was or will be made, in order to make
the statements herein or therein not misleading.

                                   ARTICLE IV
                                    COVENANTS

      4.1 Closing Efforts. Each of the Parties shall use his, her or its
Reasonable Best Efforts to take all actions and to do all things necessary,
proper or advisable to consummate the transactions contemplated by this
Agreement, including using its Reasonable Best Efforts to ensure that (a) its
representations and warranties remain true and correct through the Closing Date
and (b) the conditions to the obligations of the other Parties to consummate the
Merger are satisfied.

      4.2 Governmental and Third-Party Notices and Consents.

            (a) Each Party shall use its Reasonable Best Efforts to obtain, at
its expense, all waivers, permits, consents, approvals or other authorizations
from Governmental Entities, and to effect all registrations, filings and notices
with or to Governmental Entities, as may be required for such Party to
consummate the transactions contemplated by this Agreement and to otherwise
comply with all applicable laws and regulations in connection with the
consummation of the transactions contemplated by this Agreement. Without
limiting the generality of the foregoing, each of the Parties shall promptly
file any Notification and Report Forms and related material that it may be
required to file with the Federal Trade Commission and the Antitrust Division of
the United States Department of Justice under the Hart-Scott-Rodino Act or other
applicable U.S. or foreign antitrust laws, shall use its Reasonable Best Efforts
to obtain an early termination of the applicable waiting period, and shall make
any further filings or information submissions pursuant thereto that may be
necessary, proper or advisable; provided, however, that notwithstanding anything
to the contrary in this Agreement, the Buyer shall not be obligated (A) to
respond to formal requests for additional information or documentary material
pursuant to 16 C.F.R. 803.20 under the Hart-Scott-Rodino Act except to the
extent it elects to do so in its sole discretion or (B) to sell or dispose of or
hold separately (through a trust or otherwise) any assets or businesses of the
Buyer or its Affiliates.

                                      -31-
<PAGE>

            (b) Each Party shall use its Reasonable Best Efforts to obtain, at
its expense, all such waivers, consents or approvals from third parties, and to
give all such notices to third parties, as may be required for such Party to
consummate the transactions contemplated herein, including, in the case of the
Company, the waivers, consents, approvals and notices required to be listed in
the Disclosure Schedule.

      4.3 Stockholder Approval.

            (a) As expeditiously as possible following the execution of this
Agreement and in any event within one (1) business day after the execution of
this Agreement, the Company shall mail the Disclosure Statement, in a form
reasonably acceptable to the Buyer, to the Company Stockholders. The Disclosure
Statement shall include (i) a summary of the Merger and this Agreement (which
summary shall include a summary of the terms relating to the indemnification
obligations of the Company Stockholders, the escrow arrangements and the
authority of the Representative, and a statement that the adoption of this
Agreement by the stockholders of the Company shall constitute approval of such
terms), (ii) a statement that appraisal rights are available for the Company
Shares pursuant to Section 262 of the Delaware General Corporation Law and a
copy of such Section 262 and (iii) such other information regarding the Buyer,
including its business, its financial statements and the Buyer Common Stock, as
is required by Rule 502 of Regulation D under the Securities Act (the
information provided in accordance with this clause (iii) being referred to
herein as the "Buyer Information"). The Company will promptly advise the Buyer
in writing if at any time prior to the Effective Time the Company shall obtain
knowledge of any facts with respect to the Company that make it necessary or
appropriate to amend or supplement the Disclosure Statement in order to make the
statements contained or incorporated by reference therein not misleading or to
comply with applicable law. The Buyer will promptly advise the Company in
writing if at any time prior to the Effective Time the Buyer shall obtain
knowledge of any facts with respect to the Buyer that make it necessary or
appropriate to amend or supplement the Disclosure Statement in order to make the
statements contained or incorporated by reference therein not misleading or to
comply with applicable law. As expeditiously as possible following the execution
of this Agreement, and in any event within one (1) business day after the
execution of this Agreement, the Company shall use all commercially reasonable
efforts to secure and cause to be filed with the Company consents from Company
Stockholders necessary to secure the Requisite Stockholder Approval, which
consents shall be in a form that is reasonably acceptable to the Buyer. As
expeditiously as possible following the receipt of the Requisite Stockholder
Approval, the Company shall deliver to the Buyer a certificate executed on
behalf of the Company by its Secretary and certifying that the Requisite
Stockholder Approval has been obtained. The Company shall also send, pursuant to
Sections 228 and 262(d) of the Delaware General Corporation Law, a written
notice to all stockholders of the Company that did not execute such written
consent informing them that this Agreement and the Merger were adopted and
approved by the stockholders of the Company and that appraisal rights are
available for their Company Shares pursuant to Section 262 of the Delaware
General Corporation Law (which notice shall include a copy of such Section 262),
and shall promptly inform the Buyer of the date on which such notice was sent.

            (b) The Company, acting through its Board of Directors, shall
include in the Disclosure Statement the recommendation of its Board of Directors
that the stockholders of the Company vote in favor of the adoption of this
Agreement and the approval of the Merger.

            (c) The Company shall ensure that the Disclosure Statement does not
contain any untrue statement of a material fact or omit to state a material fact
necessary in order to make the statements made therein, in light of the
circumstances under which they were made, not misleading (provided that the
Company shall not be responsible for the accuracy or completeness of any
information concerning the Buyer or the Transitory Subsidiary furnished by the
Buyer in writing for inclusion in the Disclosure Statement).

                                      -32-
<PAGE>

            (d) The Buyer shall ensure that any information furnished by the
Buyer to the Company in writing for inclusion in the Disclosure Statement
(including the Buyer Information) does not contain any untrue statement of a
material fact or omit to state a material fact necessary in order to make the
statements made therein, in light of the circumstances under which they were
made, not misleading.

            (e) The Principal Stockholders and certain of the Other Company
Stockholders have as of the date hereof entered into a Shareholder Voting
Agreement in the form attached hereto as Exhibit C, pursuant to which such
Company Stockholders have agreed (i) to vote all Company Shares that are
beneficially owned by them in favor of the adoption of this Agreement and the
approval of the Merger, (ii) not to vote any Company Shares in favor of any
other acquisition (whether by way of merger, consolidation, share exchange,
stock purchase or asset purchase) of all or a majority of the outstanding
capital stock or assets of the Company and (iii) otherwise to use their
Reasonable Best Efforts to obtain the Requisite Stockholder Approval.

      4.4 Operation of Business. Except as expressly contemplated by this
Agreement, during the period from the date of this Agreement to the Closing or
the earlier termination of this Agreement in accordance with Article X hereof
(the "Pre-Closing Period"), the Company shall conduct its operations only in the
Ordinary Course of Business and in compliance in all material respects with all
applicable U.S. federal, foreign, regional, state, provincial, county and local
laws and regulations and, to the extent consistent therewith, use its Reasonable
Best Efforts to preserve intact its current business organization, keep its
physical assets in good working condition, subject to ordinary wear and tear,
keep available the services of its current officers and employees and preserve
its relationships with customers, suppliers and others having business dealings
with it. Without limiting the generality of the foregoing, except as otherwise
expressly required by this Agreement, during the Pre-Closing Period the Company
shall not, without the written consent of the Buyer:

            (a) issue or sell any stock or other securities of the Company or
any options, warrants or rights to acquire any such stock or other securities
(except pursuant to the exercise or conversion of Preferred Shares, Options or
Warrants outstanding on the date hereof), or amend any of the terms of
(including the vesting of) any Options or Warrants or restricted stock
agreements, or repurchase or redeem any stock or other securities of the Company
(except from former employees, directors or consultants in accordance with
agreements in place on October 1, 2006 and providing for the repurchase of
shares at their original issuance price in connection with any termination of
employment with or services to the Company);

            (b) split, combine or reclassify any shares of its capital stock; or
declare, set aside or pay any dividend or other distribution (whether in cash,
stock or property or any combination thereof) in respect of its capital stock;

            (c) create, incur or assume any indebtedness (including obligations
in respect of capital leases) in excess of $25,000 in the aggregate; assume,
guarantee, endorse or otherwise become liable or responsible (whether directly,
contingently or otherwise) for the obligations of any other person or entity; or
make any loans, advances or capital contributions to, or investments in, any
other person or entity other than advances of up to a maximum of $25,000 in the
aggregate to employees in the Ordinary Course of Business; provided, however,
that the Company may, prior to the Preliminary Closing Balance Sheet Date, incur
indebtedness of up to $50,000.00 for working capital purposes in the Ordinary
Course of Business, which indebtedness shall be unsecured and shall bear simple
interest at a rate no greater than 6 percent per annum; provided further that
any such indebtedness, as well as all unpaid interest thereon, that remains
outstanding at the (i) Preliminary Closing Balance Sheet Date shall be fully
accrued for on the Preliminary Closing Balance Sheet and (ii) the Closing Date
shall be fully accrued for on the Closing Balance Sheet.

                                      -33-
<PAGE>

            (d) enter into, adopt or amend any Employee Benefit Plan or any
employment or severance agreement or arrangement of the type described in
Section 2.22(k) or (except for normal salary increases in the Ordinary Course of
Business for employees who are not Affiliates) increase in any manner the
compensation or fringe benefits of, or materially modify the employment terms
of, its directors, officers or employees, generally or individually, or pay any
bonus or other benefit to its directors, officers or employees (except for
existing payment obligations listed in Section 2.22(k) or (m) of the Disclosure
Schedule) or hire any new officers or (except in the Ordinary Course of
Business) any new employees or consultants;

            (e) acquire, sell, lease, license or dispose of any assets or
property (including any shares or other equity interests in or securities of any
other corporation, partnership, association or other business organization or
division thereof), other than purchases and sales of assets to customers in the
Ordinary Course of Business;

            (f) mortgage or pledge any of its property or assets or subject any
such property or assets to any Security Interest, other than purchase money
security interests evidencing purchases of up to $25,000 in the aggregate
incurred in the Ordinary Course of Business;

            (g) amend its certificate of incorporation, by-laws or other
organizational documents;

            (h) sell, assign, transfer, license or sublicense any Company
Intellectual Property, other than pursuant to non-exclusive licenses or service
agreements with customers, vendors and suppliers entered into in the Ordinary
Course of Business;

            (i) change the nature or scope of its business being carried on as
of the date of this Agreement or commence any new business not being ancillary
or incidental to such business or take any action to alter its organizational
structure in any material respect;

            (j) change its accounting methods, principles or practices, except
insofar as may be required by a generally applicable change in GAAP;

            (k) make or change any Tax election, change an annual accounting
period, file any amended Tax Return, enter into any closing agreement, waive or
extend any statute of limitation with respect to Taxes, settle or compromise any
Tax liability, claim or assessment, surrender any right to claim a refund of
Taxes or take any other similar action relating to the filing of any Tax Return
or the payment of any Tax;

            (l) enter into, amend, terminate, take or omit to take any action
that would constitute a violation of or default under, or waive any rights
under, any contract or agreement of a nature required to be listed in Section
2.12, Section 2.13 or Section 2.15 of the Disclosure Schedule;

            (m) make or commit to make any capital expenditure in excess of
$50,000 per item or $100,000 in the aggregate;

            (n) institute any Legal Proceeding, other than to enforce the terms
of this Agreement;

            (o) settle any Legal Proceeding, other than settlements of routine
litigation entered into in the Ordinary Course of Business imposing no
obligation on the Company other than the payment of cash in an amount not in
excess of $25,000 in the aggregate;

                                      -34-
<PAGE>

            (p) take any action or fail to take any action permitted by this
Agreement with the Knowledge that such action or failure to take action would
result in (i) any of the representations and warranties of the Company set forth
in this Agreement becoming untrue or (ii) any of the conditions to the Merger
set forth in Article V not being satisfied;

            (q) fail to take any action necessary to preserve the validity of
any Company Intellectual Property or Permit; or

            (r) agree in writing or otherwise to take any of the foregoing
actions.

In addition, during the Pre-Closing Period, the Company shall (A) accept
customer orders in the Ordinary Course of Business, and (B) shall continue to
make regularly scheduled payments pursuant to the terms of any Contract with
respect to any indebtedness, if any, in existence as of the date of this
Agreement.

      4.5 Access to Information.

            (a) Except to the extent prohibited by applicable law, during the
Pre-Closing Period, the Company shall afford the officers, attorneys,
accountants and other authorized representatives of the Buyer reasonable access
upon reasonable notice and during normal business hours to all personnel,
offices, properties, books and records of the Company, so that the Buyer may
have full opportunity to make such investigation as it shall desire to make of
the management, business, properties and affairs of the Company, and the Buyer
shall be permitted to make abstracts from, or copies of, all such books and
records, provided that all such information shall be subject to the
Nondisclosure Agreement between the Company and the Buyer dated August 18, 2006.
The Company shall furnish to the Buyer such financial and operating data and
other information as to the business of the Company as the Buyer shall
reasonably request.

            (b) Within 15 business days after the end of each month ending prior
to the Closing, beginning with November 1, 2006, the Company shall furnish to
the Buyer an unaudited income statement for such month and a balance sheet as of
the end of such month, prepared on a basis consistent with the Financial
Statements. Such financial statements shall present fairly the financial
condition and results of operations of the Company as of the dates thereof and
for the periods covered thereby, and shall be consistent with the books and
records of the Company.

      4.6 Notice of Breaches.

            (a) During the Pre-Closing Period, the Company shall promptly
deliver to the Buyer supplemental information upon becoming aware of any events
or circumstances occurring subsequent to the date hereof which would render any
representation, warranty or statement of the Company in this Agreement or the
Disclosure Schedule inaccurate or incomplete in any material respect at any time
after the date of this Agreement until the Closing. No such supplemental
information shall be deemed to avoid or cure any misrepresentation or breach of
warranty or constitute an amendment of any representation, warranty or statement
in this Agreement or the Disclosure Schedule.

            (b) During the Pre-Closing Period, the Buyer shall promptly deliver
to the Company supplemental information upon becoming aware of any events or
circumstances occurring subsequent to the date hereof which would render any
representation, warranty or statement of the Buyer in this Agreement inaccurate
or incomplete in any material respect at any time after the date of this
Agreement until the Closing. No such supplemental information shall be deemed to
avoid or cure any misrepresentation or breach of warranty or constitute an
amendment of any representation, warranty or statement in this Agreement.

                                      -35-
<PAGE>

      4.7 Exclusivity.

            (a) During the Pre-Closing Period, neither the Company nor any of
the Principal Stockholders shall, and the Company shall require each of its
officers, directors, employees, representatives and agents not to, directly or
indirectly, (i) initiate, solicit, encourage or otherwise facilitate any
inquiry, proposal, offer or discussion with any party (other than the Buyer or
its representatives) concerning any acquisition, equity or debt financing
(except as specifically permitted pursuant to Section 4.4(c)), joint venture,
merger, reorganization, consolidation, recapitalization, business combination,
liquidation, dissolution, share exchange, sale of stock, sale of material assets
or similar business transaction involving the Company, (ii) furnish any
information concerning the business, properties or assets of the Company or the
Company Shares to any party (other than the Buyer or its representatives) or
(iii) engage in negotiations or enter into any agreement with any party (other
than the Buyer or its representatives) concerning any such transaction.

            (b) The Company shall immediately notify any party with which
discussions or negotiations of the nature described in paragraph (a) above were
pending that the Company and the Principal Stockholders are terminating such
discussions or negotiations. If the Company or any of the Principal Stockholders
receives any inquiry, proposal or offer of the nature described in paragraph (a)
above, the Company shall, within one business day after such receipt, notify the
Buyer of such inquiry, proposal or offer, including the identity of the other
party and the terms of such inquiry, proposal or offer.

      4.8 Expenses. Except as otherwise expressly provided herein, the Buyer
will pay all fees and expenses (including legal and accounting fees and
expenses) incurred by it in connection with the transactions contemplated hereby
and the Company Stockholders will pay all fees and expenses incurred by the
Company Stockholders in connection with the transactions contemplated hereby.
Each Company Stockholder shall be responsible for payment of all sales or
transfer Taxes (including real property transfer Taxes) arising out of the
conveyance of the Company Shares owned by such Company Stockholder. The Company
and the Buyer shall each pay one-half of all fees and expenses (including legal
fees and expenses) incurred by them in connection with complying with the
Hart-Scott-Rodino Act.

      4.9 Access to Customers and Suppliers. The Company shall, if requested by
the Buyer, introduce the Buyer to customers and suppliers of the Company for the
purpose of facilitating the post-Closing integration of the Company and its
business into that of the Buyer.

      4.10 Listing of Merger Shares. The Buyer shall, if required by the rules
of The Nasdaq Stock Market, timely file with The Nasdaq Stock Market a
Notification Form for Listing Additional Shares with respect to the Buyer Common
Shares issuable in connection with the Merger.

      4.11 280G Covenant. Prior to the Closing Date, the Company shall submit to
a stockholder vote the right of any "disqualified individual" (as defined in
Section 280G(c) of the Code) to receive any and all payments (or other benefits)
contingent on the consummation of the transactions contemplated by this
Agreement (within the meaning of Section 280G(b)(2)(A)(i) of the Code) to the
extent necessary so that no payment received by such "disqualified individual"
would be a "parachute payment" under Section 280G(b) of the Code (determined
without regard to Section 280G(b)(4) of the Code), in a manner that satisfies
the stockholder approval requirements under Section 280G(b)(5)(B) of the Code
and regulations promulgated thereunder. Such vote shall establish the
"disqualified individual's" right to the payment or other compensation. In
addition, before the vote is submitted to stockholders, the Company shall
provide adequate disclosure to Company Stockholders that hold voting Company
Shares of all material facts concerning all payments that, but for such vote,
could be deemed "parachute payments" to a "disqualified individual" under
Section 280G of the Code in a manner that satisfies Section 280G(b)(5)(B)(ii) of
the Code and regulations promulgated thereunder. The Buyer and its counsel shall

                                      -36-
<PAGE>

have the right to review and comment on all documents to be delivered to the
Company Stockholders in connection with such vote.

      4.12 FIRPTA. Prior to the Closing, the Company shall deliver to the Buyer
and to the Internal Revenue Service notices that the Company Shares are not
"U.S. real property interests" in accordance with Treasury Regulations under
Sections 897 and 1445 of the Code. If the Buyer does not receive the notices
described above on or before the Closing Date, the Buyer, the Transitory
Subsidiary, or the Exchange Agent shall be permitted to withhold from the
payments to be made pursuant to this Agreement any required withholding Tax
under Section 1445 of the Code in the manner required under Section 1.17 of this
Agreement.

      4.13 Indemnification. The Buyer shall not, for a period of five years
after the Closing, take any action to alter or impair any exculpatory or
indemnification provisions now existing in the Certificate of Incorporation or
bylaws of the Surviving Corporation for the benefit of any individual who served
as a director, officer, employee or agent of the Company at any time prior to
the Closing, except for any changes which may be required to conform with
changes in applicable law and any changes which do not affect the application of
such provisions to acts or omissions of such individuals prior to the Closing.

      4.14 Conversion of Indebtedness. The Company shall, immediately prior to
the Effective Time, cause the conversion of all Principal Stockholder Loans,
including all principal and accrued interest payable thereunder, into the number
of Common Shares equal to the principal and accrued interest payable under such
Principal Stockholder Loans divided by the product of (i) the Common Conversion
Ratio and (ii) the Buyer Share Price.

      4.15 Termination of Option Plan. Prior to the Effective Time, the Company
shall use its Reasonable Best Efforts to (i) terminate its 2000 Stock Option
Plan and (i) terminate or cause the exercise of all outstanding Options or other
equity based awards issued under the 2000 Stock Option Plan.

      4.16 Foreign Qualification. Prior to the Effective Time, the Company shall
take all action necessary such that it shall become duly qualified to conduct
business and be in corporate and tax good standing under the laws of California
and Colorado.

                                   ARTICLE V
                      CONDITIONS TO CONSUMMATION OF MERGER

      5.1 Conditions to Obligations of the Buyer and the Transitory Subsidiary.
The obligation of each of the Buyer and the Transitory Subsidiary to consummate
the Merger is subject to the satisfaction of the following conditions precedent,
each of which may be waived in writing in the sole discretion of the Buyer:

            (a) either (i) the holders of at least 93% of the outstanding
Company Shares as of the Effective Time shall have voted in favor of (or
executed a written consent in favor of) the adoption of this Agreement and the
approval of the Merger or (ii) (A) the number of Dissenting Shares shall not
exceed 5% of the number of outstanding Company Shares as of the Effective Time
and (B) twenty-one (21) days shall have passed after the date of the mailing of
the Disclosure Statement; provided that the condition set forth in this Section
5.1(a) shall be deemed satisfied on the earlier to occur of the satisfaction of
the condition set forth in Section 5.1(a)(i) or Section 5.1(a)(ii);

            (b) the Company shall have obtained at its own expense (and shall
have provided copies thereof to the Buyer) (i) all of the waivers, permits,
consents, approvals or other authorizations, and effected all of the
registrations, filings and notices, set forth on Schedule 5.1(b)(i) and (ii) all
other

                                      -37-
<PAGE>

waivers, permits, consents, approvals or other authorizations, and effected all
of the registrations, filings and notices which are necessary for the
consummation of the transactions contemplated by the Agreement or are material
to the conduct of the Company's business (it being agreed that none of the
waivers, permits, consents, approvals, authorizations, registrations, filings
and notices listed on Schedule 5.1(b)(ii) shall be a condition to Closing);

            (c) the representations and warranties of the Company set forth in
this Agreement shall be true and correct as of the date of this Agreement and
shall be true and correct as of the Closing as though made as of the Closing,
except to the extent that any such inaccuracies, individually or in the
aggregate, have not had and would not reasonably be expected to have a Company
Material Adverse Effect;

            (d) the Company shall have performed or complied with its agreements
and covenants required to be performed or complied with under this Agreement as
of or prior to the Closing;

            (e) there shall have been no Company Material Adverse Effect as of
or prior to the Closing;

            (f) no Legal Proceeding shall be pending wherein an unfavorable
judgment, order, decree, stipulation or injunction would (i) prevent
consummation of the transactions contemplated by this Agreement, (ii) cause the
transactions contemplated by this Agreement to be rescinded following
consummation or (iii) have, individually or in the aggregate, a Company Material
Adverse Effect, and no such judgment, order, decree, stipulation or injunction
shall be in effect;

            (g) all applicable waiting periods (and any extensions thereof)
under the Hart-Scott-Rodino Act and under any other applicable U.S. or foreign
antitrust laws shall have expired or otherwise been terminated;

            (h) the Company shall have delivered to the Buyer and the Transitory
Subsidiary the Company Certificate;

            (i) the Buyer shall have received copies of the resignations,
effective as of the Closing, of each director and officer of the Company (other
than any such resignations which the Buyer designates, by written notice to the
Company, as unnecessary);

            (j) the Buyer shall have received a counterpart of the Escrow
Agreement executed by the Escrow Agent and the Representative;

            (k) the Buyer shall have received from Satterlee Stephens Burke &
Burke LLP, counsel to the Company and the Company Stockholders, an opinion in
the form attached hereto as Exhibit D addressed to the Buyer and dated as of the
Closing Date;

            (l) the Buyer shall have received estoppel certificate from each
lessor from whom the Company leases real property located in Denver, Colorado
consenting to the acquisition of the Company Shares by the Buyer and the other
transactions contemplated hereby, and representing that there are no outstanding
claims against the Company under such Lease;

            (m) there shall be no more than 35 holders of Preferred Shares as of
the Effective Time;

                                      -38-
<PAGE>

            (n) the Buyer shall have received evidence that this Agreement and
the Merger have received the Requisite Stockholder Approval; and

            (o) the Buyer shall have received such other certificates and
instruments (including a certificate of good standing of the Company in its
jurisdiction of organization and the various foreign jurisdictions in which it
is qualified, a certified charter, a certificate as to the incumbency of
officers and the adoption of authorizing resolutions) as it shall reasonably
request in connection with the Closing.

      5.2 Conditions to Obligations of the Company. The obligation of the
Company to consummate the Merger is subject to the satisfaction of the following
conditions precedent, each of which may be waived in writing in the sole
discretion of the Company and the Representative:

            (a) the Buyer, if required by the rules of The Nasdaq Stock Market,
shall have filed with The Nasdaq Stock Market a Notification Form for Listing of
Additional Shares with respect to the Buyer Common Shares issuable in connection
with the Merger;

            (b) the representations and warranties of the Buyer and the
Transitory Subsidiary set forth in this Agreement shall be true and correct as
of the date of this Agreement and shall be true and correct as of the Closing as
though made as of the Closing, except to the extent that any such inaccuracies,
individually or in the aggregate, have not had and would not reasonably be
expected to have a material adverse effect the ability of the Buyer or the
Transitory Subsidiary to consummate the transactions contemplated by this
Agreement;

            (c) each of the Buyer and the Transitory Subsidiary shall have
performed or complied with its agreements and covenants required to be performed
or complied with under this Agreement as of or prior to the Closing;

            (d) the Buyer shall have delivered to the Representative the Buyer
Certificate;

            (e) the Representative shall have received a counterpart of the
Escrow Agreement executed by the Buyer and the Escrow Agent;

            (f) the Representative shall have received evidence of delivery of
the Escrow Shares to the Escrow Agent;

            (g) the Representative shall have received from Wilmer Cutler
Pickering Hale and Dorr LLP, counsel to the Buyer, an opinion in the form
attached hereto as Exhibit E addressed to the Company Stockholders and dated as
of the Closing Date;

            (h) no Legal Proceeding commenced by a Governmental Entity shall be
pending wherein an unfavorable judgment, order, decree, stipulation or
injunction would (i) prevent consummation of the transactions contemplated by
this Agreement or (ii) cause the transactions contemplated by this Agreement to
be rescinded following consummation, and no such judgment, order, decree,
stipulation or injunction shall be in effect; and

            (i) the Representative shall have received such other certificates
and instruments (including certificates of good standing of the Buyer and the
Transitory Subsidiary in their jurisdiction of organization, certified charter
documents, certificates as to the incumbency of officers and the adoption of
authorizing resolutions) as it shall reasonably request in connection with the
Closing.

                                      -39-
<PAGE>

                                   ARTICLE VI
                                 INDEMNIFICATION

         6.1 Indemnification by the Company Stockholders. From and after the
Effective Time, the Company Stockholders shall, except as otherwise provided in
paragraph (c) below, jointly and severally indemnify the Buyer in respect of,
and hold it harmless against, any and all Damages incurred or suffered by the
Company, the Surviving Corporation, the Buyer or any Affiliate thereof resulting
from, relating to or constituting:

            (a) any breach, as of the date of this Agreement or as of the
Closing Date, of any representation or warranty of the Company contained in this
Agreement;

            (b) any failure to perform any covenant or agreement of the Company
or any Company Stockholder contained in this Agreement;

            (c) any failure of any Company Stockholder to have good, valid and
marketable title to the issued and outstanding Company Shares issued in the name
of such Company Stockholder, free and clear of all Security Interests (it being
understood that the indemnity provided for in this paragraph (c) shall be on a
several and not joint basis);

            (d) any claim by a stockholder or former stockholder of the Company,
or any other person or entity, seeking to assert, or based upon: (i) ownership
or rights to ownership of any shares of stock of the Company; (ii) any rights of
a stockholder (other than the right to receive the Merger Shares pursuant to
this Agreement), including any option (other than those options assumed by the
Buyer pursuant to Section 1.9), preemptive rights or rights to notice or to
vote; (iii) any rights under the Certificate of Incorporation or By-laws of the
Company; or (iv) any claim that his, her or its shares were wrongfully
repurchased by the Company;

            (e) any Litigation Matter;

            (f) any claim arising under Article VIII;

            (g) any of the matters set forth in paragraph 2 of Section 2.1 of
the Disclosure Schedule; or

            (h) any appraisal rights claims and/or claims alleging any breach of
fiduciary duty, breach of good faith and fair dealing, breach of duty of
independence, fraud and/or derivative lawsuits instituted by any holder or
holders of Common Shares and/or Preferred Shares.

      6.2 Indemnification Claims.

            (a) The Buyer shall give written notification to the Representative
of the commencement of any Third Party Action. Such notification shall be given
within 20 days after receipt by the Buyer of notice of such Third Party Action,
and shall describe in reasonable detail (to the extent then known by the Buyer)
the facts constituting the basis for such Third Party Action and the amount of
the claimed damages. No delay or failure on the part of the Buyer in so
notifying the Representative shall relieve the Company Stockholders of any
liability or obligation hereunder except to the extent of any damage or
liability caused by or arising out of such delay or failure. Within 20 days
after delivery of such notification, the Representative may, upon written notice
thereof to the Buyer, assume control of the defense of such Third Party Action
with counsel reasonably satisfactory to the Buyer; provided that (i) the
Representative may only assume control of such defense if (A) it acknowledges in
writing to the Buyer on

                                      -40-
<PAGE>

behalf of all of the Company Stockholders that any damages, fines, costs or
other liabilities that may be assessed against the Buyer in connection with such
Third Party Action constitute Damages for which the Buyer shall be indemnified
pursuant to this Article VI and (B) the ad damnum in such Third Party Action,
taken together with the estimated costs of defense thereof and the Claimed
Amount with respect to any unresolved claims for indemnification then pending,
is less than or equal to the current balance of the Escrow Shares (valued at
$46.15 per share), and (ii) the Representative may not assume control of the
defense of any Third Party Action involving Taxes or criminal liability or in
which equitable relief is sought against the Buyer. If the Representative does
not, or is not permitted under the terms hereof to, so assume control of the
defense of a Third Party Action, the Buyer shall control such defense. The
Non-controlling Party may participate in such defense at its own expense. The
Controlling Party shall keep the Non-controlling Party advised of the status of
such Third Party Action and the defense thereof and shall consider in good faith
recommendations made by the Non-controlling Party with respect thereto. The
Non-controlling Party shall furnish the Controlling Party with such information
as it may have with respect to such Third Party Action (including copies of any
summons, complaint or other pleading which may have been served on such party
and any written claim, demand, invoice, billing or other document evidencing or
asserting the same) and shall otherwise cooperate with and assist the
Controlling Party in the defense of such Third Party Action. The fees and
expenses of counsel to the Buyer with respect to a Third Party Action shall be
considered Damages for purposes of this Agreement if (i) the Buyer controls the
defense of such Third Party Action pursuant to the terms of this Section 6.2(a)
or (ii) the Representative assumes control of such defense and the Buyer
reasonably concludes that the Company Stockholders and the Buyer have
conflicting interests or different defenses available with respect to such Third
Party Action. Neither the Company Stockholders nor the Representative shall
agree to any settlement of, or the entry of any judgment arising from, any Third
Party Action without the prior written consent of the Buyer, which shall not be
unreasonably withheld, conditioned or delayed; provided that the consent of the
Buyer shall not be required if the Representative, on behalf of all of the
Company Stockholders, agrees in writing to pay any amounts payable pursuant to
such settlement or judgment and such settlement or judgment includes a complete
release of the Buyer from further liability and has no other adverse effect on
the Buyer. Except as provided in Section 6.2(f) below, the Buyer shall not agree
to any settlement of, or the entry of any judgment arising from, any such Third
Party Action without the prior written consent of the Representative, which
shall not be unreasonably withheld, conditioned or delayed.

            (b) In order to seek indemnification under this Article VI, the
Buyer shall deliver a Claim Notice to the Representative.

            (c) Within 30 days after delivery of a Claim Notice, the
Representative shall deliver to the Buyer a Response, in which the
Representative, on behalf of the Company Stockholders, shall: (i) agree that the
Buyer is entitled to receive all of the Claimed Amount (in which case the
Response shall be accompanied by a letter instructing the Escrow Agent to
disburse to the Buyer from the Escrow Shares a number of shares that if
multiplied by a value of $46.15 per share will equal the Claimed Amount), (ii)
agree that the Buyer is entitled to receive the Agreed Amount (in which case the
Response shall be accompanied by a letter instructing the Escrow Agent to
disburse to the Buyer from the Escrow Shares a number of shares that if
multiplied by a value of $46.15 per share will equal the Agreed Amount) or (iii)
dispute that the Buyer is entitled to receive any of the Claimed Amount. The
Representative may contest the payment of all or a portion of the Claimed Amount
only based upon a good faith belief that all or such portion of the Claimed
Amount does not constitute Damages for which the Buyer is entitled to
indemnification under this Article VI. If no Response is delivered by the
Representative within such 30-day period, the Company Stockholders shall be
deemed to have agreed that all of the Claimed Amount is owed to the Buyer.
Acceptance by the Buyer of partial payment of any Claimed Amount shall be
without prejudice to the Buyer's right to claim the balance of any such Claimed
Amount.

                                      -41-
<PAGE>

            (d) During the 30-day period following the delivery of a Response
that reflects a Dispute, the Representative and the Buyer shall use good faith
efforts to resolve the Dispute. If the Dispute is not resolved within such
30-day period, the Representative and the Buyer shall discuss in good faith the
submission of the Dispute to binding arbitration, and if the Representative and
the Buyer agree in writing to submit the Dispute to such arbitration, then the
provisions of Section 6.3(e) shall become effective with respect to such
Dispute. The provisions of this Section 6.3(d) shall not obligate the
Representative and the Buyer to submit to arbitration or any other alternative
dispute resolution procedure with respect to any Dispute, and in the absence of
an agreement by the Representative and the Buyer to arbitrate a Dispute, such
Dispute shall be resolved in a state or federal court sitting in New York, New
York, in accordance with Section 12.11. If the Buyer is seeking to enforce the
claim that is the subject of the Dispute pursuant to the Escrow Agreement, the
Representative and the Buyer shall deliver to the Escrow Agent, promptly
following the resolution of the Dispute (whether by mutual agreement,
arbitration, judicial decision or otherwise), a written notice executed by both
parties instructing the Escrow Agent as to what (if any) portion of the Escrow
Shares shall be distributed to the Buyer (which notice shall be consistent with
the terms of the resolution of the Dispute).

            (e) If, as set forth in Section 6.3(d), the Buyer and the
Representative agree to submit any Dispute to binding arbitration, the
arbitration shall be conducted in New York, New York by a single arbitrator (the
"Arbitrator") in accordance with the Commercial Rules in effect from time to
time and the following provisions:

                  (i) In the event of any conflict between the Commercial Rules
in effect from time to time and the provisions of this Agreement, the provisions
of this Agreement shall prevail and be controlling;

                  (ii) Either party shall commence the arbitration by filing a
written submission with the New York, New York office of the AAA in accordance
with Commercial Rule 5 (or any successor provision);

                  (iii) All depositions or other discovery shall be conducted
pursuant to the applicable U.S. federal rules relating to discovery;

                  (iv) Not later than 30 days after the conclusion of the
arbitration hearing, the Arbitrator shall prepare and distribute to the parties
a writing setting forth the arbitral award and the Arbitrator's reasons
therefor. Any award rendered by the Arbitrator shall be final, conclusive and
binding upon the parties, and judgment thereon may be entered and enforced in
any court of competent jurisdiction (subject to Section 12.11);

                  (v) The Arbitrator shall have no power or authority, under the
Commercial Rules or otherwise, to (x) modify or disregard any provision of this
Agreement, including the provisions of this Section 6.2(e), or (y) address or
resolve any issue not submitted by the parties; and

                  (vi) In connection with any arbitration proceeding pursuant to
this Agreement, each party shall bear its own costs and expenses, except that
the fees and costs of the AAA and the Arbitrator, the costs and expenses of
obtaining the facility where the arbitration hearing is held, and such other
costs and expenses as the Arbitrator may determine to be directly related to the
conduct of the arbitration and appropriately borne jointly by the parties (which
shall not include any party's attorneys' fees or costs, witness fees (if any),
costs of investigation and similar expenses) shall be shared equally by the
Buyer and the Company Stockholders.

                                      -42-
<PAGE>

            (f) Notwithstanding the other provisions of this Section 6.2, if a
third party customer or vendor asserts (other than by means of a lawsuit) that
the Buyer is liable to such third party for a monetary or other obligation which
may constitute or result in Damages for which the Buyer may be entitled to
indemnification pursuant to this Article VI, and the Buyer reasonably determines
that it has a valid business reason to fulfill such obligation, then (i) the
Buyer shall be entitled to satisfy such obligation, without prior notice to or
consent from the Representative or the Company Stockholders, (ii) the Buyer may
subsequently make a claim for indemnification in accordance with the provisions
of this Article VI, and (iii) the Buyer shall be reimbursed, in accordance with
the provisions of this Article VI, for any such Damages for which it is entitled
to indemnification pursuant to this Article VI (subject to the right of the
Representative, on behalf of the Company Stockholders, to dispute the Buyer's
entitlement to indemnification, or the amount for which it is entitled to
indemnification, under the terms of this Article VI).

            (g) The Representative shall have full power and authority on behalf
of each Company Stockholders to take any and all actions on behalf of, execute
any and all instruments on behalf of, and execute or waive any and all rights
of, the Company Stockholders under this Article VI. The Representative shall
have no liability to any Company Stockholders for any action taken or omitted on
behalf of the Company Stockholders pursuant to this Article VI.

            (h) Any indemnification payment made hereunder shall be treated by
the Buyer and the Company Stockholders, to the greatest extent allowed by
applicable law, as an adjustment to the Merger Consideration.

      6.3   Survival of Representations and Warranties.

            (a) Unless otherwise specified in this Section 6.3 or elsewhere in
this Agreement, all provisions of this Agreement shall survive the Closing and
the consummation of the transactions contemplated hereby and shall continue
forever in full force and effect in accordance with their terms. Except for
claims based on fraud or intentional misrepresentation, all representations and
warranties that are covered by the indemnification obligations in Section 6.1(a)
shall expire on the date 18 months following the Closing Date; provided,
however, the representations and warranties set forth in: (i) Sections 2.9, 2.22
and 2.23 shall survive for the duration of the period ending 30 days following
the expiration of the applicable statute of limitations, (ii) Section 2.13 shall
survive for a period of five years following the Closing Date and (iii) Sections
2.2, 2.3 and 2.28 shall survive indefinitely. All matters described in this
Section 6.3(a) that survive the expiration of the 18-month escrow period are
collectively referred to herein as "Permitted Matters."

            (b) If the Buyer delivers to the Representative, before expiration
of a representation, warranty, covenant or agreement, either a Claim Notice
based upon a breach of such representation, warranty, covenant or agreement or
an Expected Claim Notice based upon a breach of such representation, warranty,
covenant or agreement then the applicable representation, warranty, covenant or
agreement shall survive until, but only for purposes of, the resolution of the
matter covered by such notice. If the legal proceeding or written claim with
respect to which an Expected Claim Notice has been given is definitively
withdrawn or resolved in favor of the Buyer, the Buyer shall promptly so notify
the Representative. The rights to indemnification set forth in this Article VI
shall not be affected by (i) any investigation conducted by or on behalf of the
Buyer or any knowledge acquired (or capable of being acquired) by the Buyer,
whether before or after the date of this Agreement or the Closing Date, with
respect to the inaccuracy or noncompliance with any representation, warranty,
covenant or obligation which is the subject of indemnification hereunder, or
(ii) any waiver by the Buyer of any closing condition relating to the accuracy
of representations and warranties or the performance of or compliance with
agreements and covenants.

                                      -43-
<PAGE>

      6.4   Limitations.

            (a) With respect to claims for Damages arising under Section 6.1(a),
the Company Stockholders shall not be liable for any such Damages until the
aggregate amount of all such Damages exceeds $750,000 (at which point the
Company Stockholders shall become liable for all Damages under Section 6.1(a),
and not just amounts in excess of $750,000); provided that the limitation set
forth in this sentence shall not apply to (i) claims based on fraud or
intentional misrepresentation, (ii) any claim pursuant to Section 6.1(a)
relating to a breach of the representations and warranties set forth in Sections
2.2, 2.3, 2.9, 2.13, 2.22, 2.23 or 2.28, (iii) any claim arising under or
related to any of the matters set forth in paragraph 2 of Section 2.1 of the
Disclosure Schedule or (iv) any claim arising under or related to any of the
matters set forth in Section 6.1(h) of the Disclosure Schedule or asserted
pursuant to Section 6.1(h) of this Agreement.

            (b) Except for claims based on fraud or intentional
misrepresentation, claims relating to any of the Permitted Matters, claims
asserted pursuant to Section 6.1(h) of this Agreement and claims arising under
Article VIII, the Escrow Agreement shall be the exclusive means for the Buyer to
collect any Damages for which it is entitled to indemnification under this
Article VI from any Company Stockholder. Notwithstanding the foregoing, the
Buyer shall not attempt to collect any Damages directly from any Company
Stockholder unless there are insufficient unclaimed Escrow Shares remaining to
satisfy such Damages pursuant to the Escrow Agreement. If, prior to the
expiration of the indemnification obligation (or potential indemnification
obligation) set forth in Section 6.4(b), any Principal Stockholder (other than
Catalyst Investors, L.P.) desires or intends to transfer, convey, distribute,
gift or otherwise dispose of (other than in a sale on the Nasdaq Global Market
for cash) ("transfer") any Merger Shares issued to such Principal Stockholder
pursuant to this Agreement, or desires or intends to transfer the proceeds
received in connection with any such transfer or in connection with any sale of
Merger Shares for cash, such Principal Stockholder shall, as a condition to such
transfer, and prior to consummation thereof, either (i) (A) in the case of a
proposed transfer by Javva Partners, LLC, deliver to the Buyer the personal
guarantee of Howard Katz, in form and substance reasonably acceptable to the
Buyer, guaranteeing the indemnification obligations of Javva Partners, LLC under
Section 6.4(b), (B) in the case of a proposed transfer by Wren Holdings, LLC,
deliver to the Buyer the personal guarantees of Andrew T. Dwyer and Dort A.
Cameron III, each in form and substance reasonably acceptable to the Buyer,
guaranteeing the indemnification obligations of Wren Holdings, LLC under Section
6.4(b), (C) in the case of a proposed transfer by Janney Montgomery & Scott,
Inc., as Custodian under SEP fbo Andrew T. Dwyer or by Janney Montgomery &
Scott, Inc., as Custodian under IRA fbo Andrew T. Dwyer, deliver to the Buyer
the personal guarantee of Andrew T. Dwyer, each in form and substance reasonably
acceptable to the Buyer, guaranteeing the indemnification obligations of such
transferring entity under Section 6.4(b); (D) in the case of a proposed transfer
by Cameron Family Partners, L.P., deliver to the Buyer the personal guarantee of
Dort A. Cameron III, in form and substance reasonably acceptable to the Buyer,
guaranteeing the indemnification obligations of Cameron Family Partners, L.P.
under Section 6.4(b); or (ii) require that the transferee of such Merger Shares,
proceeds or other assets, deliver to the Buyer an undertaking, in form and
substance reasonably acceptable to the Buyer, pursuant to which the transferee
agrees to be bound by the indemnification and other obligations set forth in
Section 6.4(b) in the same manner and to the same extent as such obligations
applied to the transferring Principal Stockholder immediately prior to such
transfer; provided, that no such transfer shall relieve the Principal
Stockholder from any obligations hereunder. Each personal guarantee (if any)
issued pursuant to clause (i)(A), (B), (C) or (D) above shall expire on the
third anniversary of the date of its issue, provided, however, that if the Buyer
delivers to the Representative, before such third anniversary, either a Claim
Notice or an Expected Claim Notice with respect to any matter pursuant to this
Section 6.4(b), then such guaranty shall survive until, but only for purposes
of, the resolution of the matter covered by such notice. Notwithstanding
anything to the contrary herein, in no event shall any Principal Stockholder be
required to deliver financial statements or financial related

                                      -44-
<PAGE>

information with respect to such Principal Stockholder or any Affiliate in
connection providing a guarantee in accordance with this Section 6.4(b).

            (c) Notwithstanding anything to the contrary herein, except for
claims based on fraud or intentional misrepresentation, the aggregate liability
of each Company Stockholder for Damages under this Article VI for any claims
relating to any of the Permitted Matters and claims arising under Article VIII
shall not exceed the value of 100% of the Total Merger Consideration received by
such Company Stockholder pursuant to this Agreement and the Escrow Agreement
(calculated at $46.15 per share).

            (d) No Company Stockholder shall have any right of contribution
against the Company or the Surviving Corporation with respect to any breach by
the Company of any of its representations, warranties, covenants or agreements.

            (e) Except with respect to claims based on fraud or intentional
misrepresentation and claims arising under Article VIII, after the Closing, the
rights of the Buyer under this Article VI shall be the exclusive remedy of the
Buyer with respect to claims resulting from or relating to any
misrepresentation, breach of warranty or failure to perform any covenant or
agreement of the Company contained in this Agreement.

            (f) Any recovery of Damages by the Buyer for indemnification
pursuant to Article VI shall be offset by any insurance proceeds actually
received by the Buyer corresponding to such indemnification claim; provided,
however, nothing in this Article VI shall (i) require that the Buyer make any
claim with any insurer for which it may be entitled to receive insurance
proceeds, (ii) require that the Buyer take any other action to obtain such
insurance proceeds or (iii) prohibit the Buyer from, or require the satisfaction
of any condition precedent prior to, making any claim and collecting under the
Escrow Agreement any Damages for which it is entitled to indemnification under
this Article VI from any Company Stockholder. To the extent the Buyer receives
any such insurance proceeds in connection with an indemnification claim under
this Article VI after the delivery of Escrow Shares pursuant to Section 1.11 of
this Agreement with respect to such claim, the Buyer will issue and deliver that
number of Buyer Common Shares equal to the value of the insurance proceeds to
the Representative (valued at $46.15 per Buyer Common Share), to be allocated
among the holders of Certificates in accordance with Article I of this
Agreement.

            (g) Notwithstanding anything herein to the contrary, the Buyer shall
not have any right to indemnification under this Article VI for any Damages to
the extent such Damages have resulted in, or otherwise been included in, any
adjustment to the Base Purchase Price or the Preliminary Base Purchase Price
pursuant to Section 1.10 of this Agreement.

                                   ARTICLE VII
                       REGISTRATION AND LOCK-UP OF SHARES

      7.1 Stockholder Registration Statement. The Buyer shall file with the SEC,
within 10 business days following the Closing, the Stockholder Registration
Statement. The Registration Statement will, when filed, comply in all material
respects with the applicable provisions of the Securities Act and the rules and
regulations thereunder. The Buyer will use its Reasonable Best Efforts to cause
the Stockholder Registration Statement to be declared effective by the SEC as
soon as practicable. The Buyer shall cause the Stockholder Registration
Statement to remain effective until the date one year after the Closing Date or
such earlier time as all of the Merger Shares covered by the Stockholder
Registration Statement have been sold pursuant thereto.

                                      -45-
<PAGE>

      7.2 Limitations on Registration Rights.

            (a) The Buyer may, by written notice to the Company Stockholders,
(i) delay the filing or effectiveness of the Stockholder Registration Statement
for no more than 90 days in the aggregate or (ii) suspend the Stockholder
Registration Statement after effectiveness for no more than 90 days in the
aggregate and require that the Company Stockholders (which, for the purposes of
this Article VII exclusively, shall also be deemed to include holders of
Warrants) immediately cease sales of shares pursuant to the Stockholder
Registration Statement, in the event that (A) the Buyer files a registration
statement (other than a registration statement on Form S-4 or Form S-8 or their
successor forms) with the SEC for a public offering of its securities, (B) the
Buyer is engaged in any activity or transaction or preparations or negotiations
for any activity or transaction that the Buyer desires to keep confidential for
business reasons, if the Buyer determines in good faith that the public
disclosure requirements imposed on the Buyer under the Securities Act in
connection with the Stockholder Registration Statement would require disclosure
of such activity, transaction, preparations or negotiations, or (C) the Buyer
fails to meet the SEC requirements, as set forth in the General Instructions to
Form S-3, for use of the Stockholder Registration Statement.

            (b) If the Buyer delays or suspends the Stockholder Registration
Statement or requires the Company Stockholders to cease sales of shares pursuant
to paragraph (a) above, the Buyer shall, as promptly as practicable following
the termination of the circumstance which entitled the Buyer to do so, take such
actions as may be necessary to file or reinstate the effectiveness of the
Stockholder Registration Statement and/or give written notice to all Company
Stockholders authorizing them to resume sales pursuant to the Stockholder
Registration Statement. If as a result thereof the prospectus included in the
Stockholder Registration Statement has been amended to comply with the
requirements of the Securities Act, the Buyer shall enclose such revised
prospectus with the notice to Company Stockholders given pursuant to this
paragraph (b), and the Company Stockholders shall make no offers or sales of
shares pursuant to the Stockholder Registration Statement other than by means of
such revised prospectus.

      7.3   Registration Procedures.

            (a) In connection with the filing by the Buyer of the Stockholder
Registration Statement, the Buyer shall furnish to each Company Stockholder a
copy of the prospectus, including a preliminary prospectus, in conformity with
the requirements of the Securities Act.

            (b) The Buyer shall make all filings required on the part of the
Buyer in connection with the proposed resale of the Merger Shares by the Company
Stockholders under applicable United States state securities laws and use its
Reasonable Best Efforts to otherwise register or qualify the Merger Shares
covered by the Stockholder Registration Statement under the securities laws of
each state of the United States; provided, however, that the Buyer shall not be
required in connection with this paragraph (b) to qualify as a foreign
corporation or execute a general consent to service of process in any
jurisdiction.

            (c) If the Buyer has delivered preliminary or final prospectuses to
the Company Stockholders and after having done so the prospectus is amended or
supplemented to comply with the requirements of the Securities Act, the Buyer
shall promptly notify the Company Stockholders and, if requested by the Buyer,
the Company Stockholders shall immediately cease making offers or sales of
shares under the Stockholder Registration Statement and return all prospectuses
to the Buyer. The Buyer shall promptly provide the Company Stockholders with
revised or supplemented prospectuses and, following receipt of the revised or
supplemented prospectuses, the Company Stockholders shall be free to resume
making offers and sales under the Stockholder Registration Statement.

                                      -46-
<PAGE>

            (d) The Buyer shall pay the expenses incurred by it in complying
with its obligations under this Article VII, including all registration and
filing fees, exchange listing fees, fees and expenses of counsel for the Buyer,
and fees and expenses of accountants for the Buyer, but excluding (i) any
brokerage fees, selling commissions or underwriting discounts incurred by the
Company Stockholders in connection with sales under the Stockholder Registration
Statement and (ii) the fees and expenses of any counsel retained by Company
Stockholders.

      7.4 Requirements of Company Stockholders. The Buyer shall not be required
to include any Merger Shares in the Stockholder Registration Statement unless:

            (a) the Company Stockholder owning such shares or entitled to
receive Buyer Common Shares upon exercise of a Warrant, as the case may be,
furnishes to the Buyer in writing such information regarding such Company
Stockholder and the proposed sale of Merger Shares by such Company Stockholder
as the Buyer may reasonably request in writing in connection with the
Stockholder Registration Statement or as shall be required in connection
therewith by the SEC or any state securities law authorities;

            (b) such Company Stockholder shall have provided to the Buyer its
written agreement:

                  (i) to indemnify the Buyer and each of its directors and
officers against, and hold the Buyer and each of its directors and officers
harmless from, any losses, claims, damages, expenses or liabilities (including
reasonable attorneys fees) to which the Buyer or such directors and officers may
become subject by reason of any statement or omission in the Stockholder
Registration Statement made in reliance upon, or in conformity with, a written
statement by such Company Stockholder furnished pursuant to this Section 7.4;
and

                  (ii) to report to the Buyer sales made pursuant to the
Stockholder Registration Statement.

      7.5 Indemnification. The Buyer agrees to indemnify and hold harmless each
Company Stockholder whose shares are included in the Stockholder Registration
Statement against any losses, claims, damages, expenses or liabilities to which
such Company Stockholder may become subject by reason of any untrue statement of
a material fact contained in the Stockholder Registration Statement or any
omission to state therein a fact required to be stated therein or necessary to
make the statements therein not misleading, except insofar as such losses,
claims, damages, expenses or liabilities arise out of or are based upon
information furnished to the Buyer by or on behalf of a Company Stockholder for
use in the Stockholder Registration Statement. The Buyer shall have the right to
assume the defense and settlement of any claim or suit for which the Buyer may
be responsible for indemnification under this Section 7.5.

      7.6 Assignment of Rights. A Company Stockholder may not assign any of its
rights under this Article VII except in connection with the transfer of some or
all of his, her or its Merger Shares to his or her estate or to a child or
spouse, or trust for their benefit or, in the case of a partnership, limited
liability company or corporation, to its partners, members or stockholders,
respectively, pursuant to a pro rata distribution of its Merger Shares, provided
each such transferee agrees in a written instrument delivered to the Buyer to be
bound by the provisions of this Article VII.

      7.7 Lock-up Agreements.

                                      -47-
<PAGE>

            (a) The Company shall deliver to the Buyer at the Closing the
written undertaking of each Company Stockholder that is an employee or officer
of the Company not to sell or otherwise transfer or dispose of Buyer Common
Shares, except as follows: (i) one-third of the Buyer Common Shares held by such
Company Stockholder may be sold or otherwise transferred or disposed of during
the 180-day period immediately following the Closing, (ii) an additional
one-third of the Buyer Common Shares held by such Company Stockholder may be
sold or otherwise transferred during the period commencing 180 days following
the Closing and ending on the first anniversary of the Closing, and (iii) the
final one-third of the Buyer Common Shares held by such Company Stockholder may
be sold or otherwise transferred following the first anniversary of the Closing.

            (b) The Company may impose stop-transfer instructions with respect
to the shares or other securities subject to the foregoing restriction until the
end of such one year period.

                                  ARTICLE VIII
                                   TAX MATTERS

      8.1 Preparation and Filing of Tax Returns; Payment of Taxes.

            (a) The Company shall prepare and timely file all Tax Returns of the
Company required to be filed (taking into account extensions) prior to the
Closing Date.

            (b) The Buyer shall prepare and timely file or shall cause to be
prepared and timely filed all Tax Returns of the Company not filed on or before
the Closing Date, including Tax Returns which were required to be filed before
the Closing Date but were not filed and all other Tax Returns with respect to
the Company or in respect of its business, assets or operations.

            (c) Any Tax Return to be prepared and filed by the Buyer for taxable
periods beginning before the Closing Date shall be prepared on a basis
consistent with the last previous similar Tax Return, and the Buyer shall
consult with the Representative concerning each such Tax Return; provided
however, if the Company did not file a previous similar return, the Buyer shall
prepare the return in the manner determined in it sole discretion, in
consultation with its Tax advisors, including, but not limited to making
voluntary disclosures of Tax Returns which were not filed for previous taxable
periods.

            (d) Buyer shall not file or cause to be filed any amended Tax
Returns for the Company for any taxable period or portion thereof ending on or
before the Closing Date without the written Consent of the Representative, which
consent shall not be unreasonably withheld or delayed, if the effect of such
amended Tax Return would be to increase the indemnification obligations of the
Equity Holders, unless the Buyer is required by law to file such amended Tax
Return.

      8.2 Tax Indemnification by the Company Stockholders.

            (a) The Company Stockholders shall indemnify the Buyer, the Company,
the Surviving Corporation and their respective Affiliates in respect of, and
hold the Buyer, the Company, the Surviving Corporation and such Affiliates
harmless against (x) any and all Damages resulting from, relating to, or
constituting a breach of any representation contained in Section 2.9 hereof, (y)
any and all Damages resulting from, relating to, or constituting any failure to
perform any covenant or agreement set forth in Article IV relating to Taxes or
in this Article VIII, and (z) without duplication, the following Taxes with
respect to the Surviving Corporation and the Company:

                                      -48-
<PAGE>

                  (i) Any and all Taxes due and payable by the Surviving
Corporation or the Company for any taxable period that ends (or is deemed
pursuant to Section 8.3(b) to end) on or before the Closing Date in excess of
any accruals for current Taxes (excluding accruals and reserves for deferred
Taxes established to reflect timing differences between book and Tax income) on
the Closing Balance Sheet; and

                  (ii) Any sales, use, transfer, stamp, conveyance, value added,
recording, registration, documentary, filing or other similar Taxes and fees,
whether levied on the Buyer, the Company Stockholders, the Company or any of
their respective Affiliates, resulting from the Merger or otherwise on account
of this Agreement or the transactions contemplated hereby.

      8.3 Allocation of Certain Taxes.

            (a) If the Surviving Corporation or the Company is permitted, but
not required, under applicable foreign, state or local Tax laws to treat the
Closing Date as the last day of a taxable period, such day shall be treated as
the last day of a taxable period.

            (b) Any Taxes for a taxable period beginning before the Closing Date
and ending after the Closing Date with respect to the Surviving Corporation
and/or the Company shall be apportioned for purposes of Section 2.9 and 8.2
between the portion of the period ending on the Closing Date and the portion
thereof beginning after the Closing Date (i) in the case of Taxes that (x) are
based upon or related to income or receipts or (y) imposed in connection with
any sale or other transfer or assignment of property, other than Taxes described
in Section 8.2(a)(ii), based on an interim closing of the books as of the close
of business on the Closing and (ii) in the case of other Taxes imposed on a
periodic basis (including property Taxes), the amount of such Taxes for the
entire period multiplied by a fraction the numerator of which is the number of
calendar days in the period ending with the Closing Date and the denominator of
which is the number of calendar days in the entire period. For purposes of the
provisions of Section 8.2, each portion of such period shall be deemed to be a
taxable period (whether or not it is in fact a taxable period). For purposes of
computing the Taxes attributable to the two portions of a taxable period
pursuant to this Section 8.3(b), the amount of any item that is taken into
account only once for each taxable period (e.g., the benefit of graduated tax
rates, exemption amounts, etc.) shall be allocated between the two portions of
the period in proportion to the number of days in each portion.

      8.4 Cooperation on Tax Matters.

            (a) The Buyer and the Representative shall cooperate in (i) the
preparation of all Tax Returns for any Tax periods and (ii) the conduct of any
Tax Proceeding, for which one party could reasonably require the assistance of
the other party in obtaining any necessary information. Such cooperation shall
include, but not be limited to, furnishing prior years' Tax Returns or return
preparation packages illustrating previous reporting practices or containing
historical information relevant to the preparation of such Tax Returns, and
furnishing such other information within such party's possession requested by
the other party as is relevant to the preparation of the Tax Returns or the
conduct of the Tax Proceeding. Such cooperation and information also shall
include without limitation promptly forwarding copies of appropriate notices and
forms or other communications received from or sent to any Governmental Entity
which relate to the Surviving Corporation or the Company, and providing copies
of all relevant Tax Returns, together with accompanying schedules and related
work papers, documents relating to rulings or other determinations by any
Governmental Entity and records concerning the ownership and tax basis of
property, which the requested party may possess.

            (b) The Buyer shall control any Tax Proceeding with respect to the
Surviving Corporation or the Company; provided that, with respect to any item
the adjustment of which would

                                      -49-
<PAGE>

cause any Company Stockholder to become obligated to make any payment pursuant
to Section 8.2 hereof, the Buyer shall promptly notify the Representative of
such Tax Proceeding and shall regularly consult with the Representative
regarding the status of and management of such Tax Proceeding. The Buyer shall
not settle any such issue without the consent of the Representative (which
consent shall not be unreasonably withheld, conditioned or delayed); provided
further, that the Buyer shall be permitted to file Tax Returns for all periods
ending on or before the Closing Date which were not so filed by the Company and
which the Buyer's Tax advisor advises the Buyer are required to be filed. Where
such consent is withheld by the Representative, the Company Stockholders may
continue or initiate any further Tax Proceeding at their own expense, provided
that any liability of the Buyer or its Affiliates resulting from the Tax
Proceeding, after giving effect to this Agreement, shall not exceed the
liability that would have resulted had the Representative not withheld their
consent.

      8.5 Termination of Tax-Sharing Agreements. All Tax sharing agreements or
similar arrangements with respect to or involving the Company shall be
terminated prior to the Closing Date and, after the Closing Date, the Company
shall not be bound thereby or have any liability thereunder for amounts due in
respect of periods ending on or before the Closing Date.

      8.6 Scope of Article VIII. Any claim by the Buyer under this Article VIII
shall be pursued in accordance with the procedures for indemnification claims,
and shall otherwise be subject to the terms and conditions, set forth in Article
VI. Notwithstanding the foregoing or any other term or condition of Article VI,
(i) claims under this Article VIII may be made by the Buyer any time prior to
the 30th day after the expiration of the statute of limitations applicable to
the Tax matter to which the claim relates and (ii) to the extent there is any
inconsistency between the terms of Article VI and this Article VIII with respect
to the allocation of responsibility between the Company Stockholders and the
Buyer for Taxes, the provisions of this Article VIII shall govern. Except as set
forth in Section 6.4(c), any limitation upon the Company Stockholders
indemnification obligations pursuant to Section 6.4 shall not apply to any claim
made by the Buyer under this Article VIII.

                                   ARTICLE IX
                             POST-CLOSING AGREEMENTS

      9.1 Proprietary Information.

            (a) From and after the Closing, the Principal Stockholders and each
of their respective Affiliates shall not disclose or make use of any information
relating to the business of the Company or the Surviving Corporation that
provides the Company, the Surviving Corporation or the Buyer with a competitive
advantage (or that could be used to the disadvantage of the Company, the
Surviving Corporation or the Buyer by a Competitive Business), which is not
generally known by, nor easily learned or determined by, persons outside the
Company (collectively referred to herein as "Proprietary Information")
including, but not limited to: (a) specifications, manuals, software in various
stages of development, and other technical data; (b) customer and prospect
lists, details of agreements and communications with customers and prospects,
and other customer information; (c) sales plans and projections, product pricing
information, protocols, acquisition, expansion, marketing, financial and other
business information and existing and future products and business plans and
strategies of the Company, the Surviving Corporation or the Buyer; (d) sales
proposals, demonstrations systems, sales material; (e) research and development;
(f) software systems, computer programs and source codes; (g) sources of supply;
(h) identity of specialized consultants and contractors and Proprietary
Information developed by them for the Company or the Surviving Corporation; (i)
purchasing, operating and other cost data; (j) special customer needs, cost and
pricing data; and (k) employee information (including, but not limited to,
personnel, payroll, compensation and benefit data and plans), including all such
information recorded in manuals, memoranda, projections, reports, minutes,
plans, drawings, sketches, designs, data,

                                      -50-
<PAGE>

specifications, software programs and records, whether or not legended or
otherwise identified by the Company, the Surviving Corporation or the Buyer as
Proprietary Information, as well as such information that is the subject of
meetings and discussions and not recorded. Proprietary Information shall not
include such information that the Principal Stockholders can demonstrate (i) is
generally available to the public (other than as a result of a disclosure by a
Principal Stockholder), or (ii) was disclosed to the Principal Stockholders by a
third party under no obligation to keep such information confidential, or (iii)
was independently developed by the Principal Stockholders without reference to
Proprietary Information and such Proprietary Information does not relate to a
Competitive Business. Notwithstanding the foregoing, the Principal Stockholders
shall have no obligation hereunder to keep confidential any of the Proprietary
Information to the extent disclosure thereof is required by law or regulation;
provided, however, that in the event disclosure is required by law or
regulation, the Principal Stockholders shall use best efforts to provide the
Buyer with prompt advance notice of such requirement so that the Buyer may seek
an appropriate protective order.

            (b) Each Principal Stockholder agrees that the remedy at law for any
breach of this Section 9.1 would be inadequate and that the Buyer or the
Surviving Corporation shall be entitled to injunctive relief in addition to any
other remedy it may have upon breach of any provision of this Section 9.1.

      9.2 No Solicitation or Hiring of Former Employees. Except as provided by
law, during the period commencing on the Closing Date and ending on the third
anniversary of the Closing Date, no Principal Stockholder or Affiliate thereof
shall directly or indirectly recruit, solicit or induce any person who was an
employee or subcontractor of the Buyer, the Buyer's subsidiaries or the Company
on the date hereof or the Closing Date to terminate his or her employment with,
or otherwise cease their relationship with, the Buyer (or the Surviving
Corporation or any of its subsidiaries) or to become an employee of such
Principal Stockholder or Affiliate, other than general solicitations in
newspapers not directed at such employer or subcontractor specifically. In
addition, no Principal Stockholder shall hire or employ or use in any
subcontracting arrangement any present or former employee of the Company for a
period of one year from the Closing without the prior written consent of an
authorized executive officer of the Buyer.

      9.3 Non Competition Agreement.

            (a) During the period commencing on the Closing Date and ending on
the third anniversary of the Closing Date, no Non-competition Party shall (other
than in his or her capacity as an employee of the Buyer, the Surviving
Corporation or any of their respective subsidiaries) directly or indirectly,
whether as a partner, officer, director, employee, stockholder, joint venturer,
member, investor (other than as the holder of not more than five percent (5%) of
the total outstanding stock of a publicly-held company) or otherwise:

                  (i) engage in, operate or establish any aspect of the business
of the Company as such business has been conducted by the Company, or, if such
Non-competition Party becomes an employee of the Buyer, the business of the
Buyer, in any county in any state of the United States of America; or

                  (ii) solicit, divert or take away, or attempt to solicit,
divert or take away, the business or patronage of any individual, corporation or
other entity which was or is a prospective client, customer or account of the
Surviving Corporation or the Buyer or any of their respective subsidiaries, on
the Closing Date, or had been a client, customer or account of the Surviving
Corporation, the Company or the Buyer or their respective subsidiaries, if any,
within a period of two years prior to the Closing Date.

                                      -51-
<PAGE>

            (b) The Parties agree that the duration and geographic scope of the
non-competition provision set forth in this Section 9.3 are reasonable. In the
event that any court of competent jurisdiction determines that the duration or
the geographic scope, or both, are unreasonable and that such provision is to
that extent unenforceable, the Parties agree that the provision shall remain in
full force and effect for the greatest time period and in the greatest area that
would not render it unenforceable. The Parties intend that this non-competition
provision shall be deemed to be a series of separate covenants, one for each and
every county of each and every state of the United States of America where this
provision is intended to be effective. The Principal Stockholders agree that
damages are an inadequate remedy for any breach of this provision and that the
Buyer shall, whether or not it is pursuing any potential remedies at law, be
entitled to equitable relief in the form of preliminary and permanent
injunctions without bond or other security upon any actual or threatened breach
of this non-competition provision.

                                    ARTICLE X
                                   TERMINATION

      10.1 Termination of Agreement. The Parties may terminate this Agreement
prior to the Closing (whether before or after Requisite Stockholder Approval),
as provided below:

            (a) the Parties may terminate this Agreement by mutual written
consent;

            (b) the Buyer may terminate this Agreement by giving written notice
to the Company in the event the Company is in breach of any representation,
warranty or covenant contained in this Agreement, and such breach, individually
or in combination with any other such breach, (i) would cause the conditions set
forth in clauses (c), (d) or (e) of Section 5.1 not to be satisfied and (ii) is
not cured within 20 days following delivery by the Buyer to the Company of
written notice of such breach;

            (c) the Company may terminate this Agreement by giving written
notice to the Buyer in the event the Buyer or the Transitory Subsidiary is in
breach of any representation, warranty or covenant contained in this Agreement,
and such breach, individually or in combination with any other such breach, (i)
would cause the conditions set forth in clauses (b) or (c) of Section 5.2 not to
be satisfied and (ii) is not cured within 20 days following delivery by the
Company to the Buyer of written notice of such breach;

            (d) the Buyer may terminate this Agreement by giving written notice
to the other Parties at any time after the stockholders of the Company have
voted on whether to approve this Agreement and the Merger in the event this
Agreement and the Merger failed to receive the Requisite Stockholder Approval;

            (e) the Buyer may terminate this Agreement by giving written notice
to the Company if the Closing shall not have occurred on or before January 31,
2007, by reason of the failure of any condition precedent under Section 5.1
(unless the failure has been waived in writing or results primarily from a
breach by the Buyer or the Transitory Subsidiary of any representation, warranty
or covenant contained in this Agreement); or

            (f) the Company may terminate this Agreement by giving written
notice to the Buyer and the Transitory Subsidiary if the Closing shall not have
occurred on or before January 31, 2007, by reason of the failure of any
condition precedent under Section 5.2 (unless the failure has been waived in
writing or results primarily from a breach by the Company of any representation,
warranty or covenant contained in this Agreement).

                                      -52-
<PAGE>

      10.2 Effect of Termination. If any Party terminates this Agreement
pursuant to Section 10.1, all obligations of the Parties hereunder shall
terminate without any liability of any Party to any other Party (except for any
liability of any Party for willful or knowing breaches of this Agreement or for
breaches of Section 4.7).

                                   ARTICLE XI
                                   DEFINITIONS

      For purposes of this Agreement, each of the following terms shall have the
meaning set forth below.

      "AAA" shall mean the American Arbitration Association.

      "Adjusted Base Purchase Price" shall have the meaning set forth in Section
1.10(f).

      "Affiliate" shall mean any affiliate, as defined in Rule 12b-2 under the
Exchange Act.

      "Agreed Amount" shall mean part, but not all, of the Claimed Amount.

      "Agreement" shall have the meaning set forth in the first paragraph
hereto.

      "Arbitrator" shall have the meaning set forth in Section 6.2(e).

      "Base Purchase Price" shall mean $149,987,500, subject to adjustment
pursuant to Section 1.10(a).

      "Buyer" shall have the meaning set forth in the first paragraph of this
Agreement.

      "Buyer Certificate" shall mean a certificate delivered by the Buyer
(without qualification as to knowledge, materiality or otherwise), signed on
behalf of the Buyer by an authorized officer of the Buyer, to the effect that
each of the conditions specified in clauses (b) and (c) of Section 5.2 is
satisfied in all respects.

      "Buyer Common Shares" shall mean the common stock, par value $0.01 per
share, of the Buyer.

      "Buyer Information" shall have the meaning set forth in Section
4.3(a)(iii).

      "Buyer Share Price" shall mean the average of the last reported sale
prices per share of the Buyer Common Shares on The Nasdaq Global Select Market
over the five consecutive trading days ending on the trading day that is one
trading day prior to the Effective Date.

      "Cash Merger Consideration" shall mean the aggregate cash payable by the
Buyer to Company Stockholders pursuant to Section 1.5(b).

      "CERCLA" shall mean the federal Comprehensive Environmental Response,
Compensation, and Liability Act of 1980, as amended.

      "Certificate of Merger" shall mean the certificate of merger or other
appropriate documents prepared and executed in accordance with Section 251(c) of
the Delaware General Corporation Law in connection with the Merger.

                                      -53-
<PAGE>

      "Certificates" shall mean stock certificates that, immediately prior to
the Effective Time, represented Company Shares converted into the right to
receive either (i) Buyer Common Shares pursuant to Sections 1.5(a) or 1.5(c)
(including any Company Shares referred to in Section 1.6) or (ii) Cash Merger
Consideration pursuant to Section 1.5(b).

      "Claim Notice" shall mean written notification which contains (a) a
description of the Damages incurred or reasonably expected to be incurred by the
Buyer and the Claimed Amount of such Damages, to the extent then known, (b) a
statement that the Buyer is entitled to indemnification under Article VI for
such Damages and a reasonable explanation of the basis therefor, and (c) a
demand for payment in the amount of such Damages.

      "Claimed Amount" shall mean the amount of any Damages incurred or
reasonably expected to be incurred by the Buyer in connection with a claim for
indemnification pursuant to Article VI.

      "Closing" shall mean the closing of the Merger contemplated by this
Agreement.

      "Closing Balance Sheet" shall mean the balance sheet of the Company as of
the Closing Date prepared in accordance with the provisions of Section 1.10
hereof.

      "Closing Date" shall mean the date two business days after the
satisfaction or waiver of all of the conditions to the obligations of the
Parties to consummate the Merger contemplated hereby (excluding the delivery at
the Closing of any of the documents set forth in Article V), or such other date
as may be mutually agreeable to the Parties.

      "Closing Net Asset Value Adjustment" shall mean the amount of the
difference between the Net Asset Value and the Preliminary Net Asset Value, as
it may be adjusted pursuant to the resolution of any disputes resolved pursuant
to Section 1.10(d). The Closing Net Asset Value Adjustment shall be expressed as
a positive number if the Net Asset Value on the Closing Balance Sheet is greater
than the Preliminary Net Asset Value and as a negative number if the Net Asset
Value on the Closing Balance Sheet is less than the Preliminary Net Asset Value.

      "Code" shall mean the Internal Revenue Code of 1986, as amended.

      "Commercial Rules" shall mean the Commercial Arbitration Rules of the AAA.

      "Common Conversion Ratio" shall have the meaning set forth in Section
1.5(a).

      "Common Shares" shall mean the shares of common stock, par value $0.01 per
share, of the Company.

      "Company" shall have the meaning set forth in the first paragraph of this
Agreement.

      "Company Certificate" shall mean a certificate delivered by the Company
(without qualification as to knowledge, materiality or otherwise), signed on
behalf of the Company by the President and the Chief Financial Officer of the
Company, to the effect that each of the conditions specified in clauses (a)
through (f) and clause (m) of Section 5.1 is satisfied in all respects.

      "Company Intellectual Property" shall mean the Company Owned Intellectual
Property and the Company Licensed Intellectual Property.

      "Company Licensed Intellectual Property" shall mean all Intellectual
Property that is licensed to the Company by any third party.

                                      -54-
<PAGE>

      "Company Material Adverse Effect" shall mean any material adverse change,
event, circumstance or development with respect to, or material adverse effect
on, (i) the business, assets, liabilities, capitalization, financial condition,
or results of operations of the Company, other than any change, event,
circumstance or development resulting (A) from changes in the United States
economy in general, so long as such changes do not disproportionately affect the
business of the Company, (B) from changes in the industry in which the Company
operates, so long as such changes do not disproportionately affect the business
of the Company, or (C) from the announcement or pendency of the Merger, (ii) the
ability of the Buyer to operate the business of the Company immediately after
the Closing or (iii) the ability of the officers of the Buyer, following the
Closing, to certify without qualification to the Buyer's financial statements or
filings made with the SEC as they relate to the business or operations
previously conducted by the Company. For the avoidance of doubt, the parties
agree that the terms "material," "materially" and "materiality" as used in this
Agreement with an initial lower case "m" shall have their respective customary
and ordinary meanings, without regard to the meaning ascribed to Company
Material Adverse Effect.

      "Company Owned Intellectual Property" shall mean all Intellectual Property
owned or purported to be owned by the Company, in whole or in part.

      "Company Plan" shall mean any Employee Benefit Plan maintained, or
contributed to, by the Company or any ERISA Affiliate.

      "Company Registrations" shall mean Intellectual Property Registrations
that are registered or filed in the name of the Company, alone or jointly with
others.

      "Company Shares" shall mean the Common Shares and the Preferred Shares.

      "Company Source Code" shall mean the source code for any Software included
in the Customer Offerings or Internal Systems or other confidential information
constituting, embodied in or pertaining to such Software.

      "Company Stock Plan" shall mean any stock option plan or other stock or
equity-related plan of the Company.

      "Company Stockholders" shall mean the Principal Stockholders and the Other
Company Stockholders.

      "Competitive Business" shall mean any business or other activity that,
directly or indirectly, provides one or more third parties with content and/or
applications delivery or solutions for digital or other rich media production,
publishing, monetization and/or distribution.

      "Contract" shall have the meaning set forth in Section 2.15.

      "Controlling Party" shall mean the party controlling the defense of any
Third Party Action.

      "Customer Offerings" shall mean (a) the products and services currently
under development by the Company, (b) the products developed or created by the
Company (including Software and Documentation) that the Company (i) currently
manufactures, markets, distributes, makes available, sells or licenses to third
parties, or (ii) has manufactured, marketed, distributed, made available, sold
or licensed to third parties within the previous six years and (c) the services
that the Company (i) currently provides or makes available to third parties, or
(ii) has provided or made available to third parties within the previous six
years. A true and complete list of all Customer Offerings is set forth in
Section 2.13(c) of the Disclosure Schedule.

                                      -55-
<PAGE>

      "Damages" shall mean any and all claims, debts, obligations and other
liabilities (whether absolute, accrued, contingent, fixed or otherwise, or
whether due or to become due or otherwise), diminution in value, monetary
damages, fines, fees, penalties, interest obligations, losses and expenses
(including amounts paid in settlement, interest, court costs, costs of
investigators, fees and expenses of attorneys, accountants, financial advisors
and other experts, and other expenses of litigation, arbitration or other
dispute resolution procedures), other than those costs and expenses of
arbitration of a Dispute which are to be shared equally by the Buyer and the
Company Stockholders as set forth in Section 6.2(e)(vi).

      "Disclosure Schedule" shall mean the disclosure schedule provided by the
Company to the Buyer on the date hereof and accepted in writing by the Buyer.

      "Disclosure Statement" shall mean a written proxy or information statement
containing the information prescribed by Section 4.3(a).

      "Dispute" shall mean the dispute resulting if the Representative, acting
on behalf of the Company Stockholders, in a Response disputes the liability of
the Company Stockholders for all or part of a Claimed Amount.

      "Dispute Notice" shall have the meaning set forth in Section 1.10(d).

      "Dissenting Shares" shall mean Company Shares held as of the Effective
Time by a Company Stockholder who has not voted such Company Shares in favor of
the adoption of this Agreement and with respect to which appraisal shall have
been duly demanded and perfected in accordance with Section 262 of the Delaware
General Corporation Law and not effectively withdrawn or forfeited prior to the
Effective Time.

      "Documentation" shall mean printed, visual or electronic materials,
reports, white papers, documentation, specifications, designs, flow charts, code
listings, instructions, user manuals, frequently asked questions, release notes,
recall notices, error logs, diagnostic reports, marketing materials, packaging,
labeling, service manuals and other information describing the use, operation,
installation, configuration, features, functionality, pricing, marketing or
correction of a product, whether or not provided to end users.

      "DOHS" shall have the meaning set forth in Section 2.21(f)

      "DOL" shall have the meaning set forth in Section 2.21(f).

      "EAD" shall have the meaning set forth in Section 2.21(f).

      "Effective Time" shall mean the time at which the Surviving Corporation
files the Certificate of Merger with the Secretary of State of the State of
Delaware.

      "Employee Amount" shall mean the number of Buyer Common Shares that, when
multiplied by $46.15, will equal the aggregate amount owed under all severance,
change of control, retention payments and similar obligations of the Company in
connection with the Merger and the other transactions contemplated by this
Agreement.

      "Employee Benefit Plan" shall mean any "employee pension benefit plan" (as
defined in Section 3(2) of ERISA), any "employee welfare benefit plan" (as
defined in Section 3(1) of ERISA) and any other written or oral plan, agreement
or arrangement involving direct or indirect compensation, including insurance
coverage, severance benefits, disability benefits, deferred compensation,
bonuses, stock options, stock purchase, phantom stock, stock appreciation or
other forms of incentive compensation or

                                      -56-
<PAGE>

post-retirement compensation, and all severance agreements, written or
otherwise, for the benefit of or relating to any current or former employee or
independent contractor of the Company or any ERISA Affiliate.

      "Environmental Law" shall mean any federal, state or local law, statute,
rule, order, directive, judgment, Permit or regulation or the common law
relating to the environment, occupational health and safety, or exposure of
persons or property to Materials of Environmental Concern, including any
statute, regulation, administrative decision or order pertaining to: (a) the
presence of or the treatment, storage, disposal, generation, transportation,
handling, distribution, manufacture, processing, use, import, export, labeling,
recycling, registration, investigation or remediation of Materials of
Environmental Concern or documentation related to the foregoing; (b) air, water
and noise pollution; (c) groundwater and soil contamination; (d) the release,
threatened release, or accidental release into the environment, the workplace or
other areas of Materials of Environmental Concern, including emissions,
discharges, injections, spills, escapes or dumping of Materials of Environmental
Concern; (e) transfer of interests in or control of real property which may be
contaminated; (f) community or worker right-to-know disclosures with respect to
Materials of Environmental Concern; (g) the protection of wild life, marine life
and wetlands, and endangered and threatened species; (h) storage tanks, vessels,
containers, abandoned or discarded barrels and other closed receptacles; and (i)
health and safety of employees and other persons. As used above, the term
"release" shall have the meaning set forth in CERCLA.

      "Equity Holders" shall mean the Company Stockholders and the holders of
any Options or Warrants outstanding immediately prior to the Effective Time.

      "ERISA" shall mean the Employee Retirement Income Security Act of 1974, as
amended.

      "ERISA Affiliate" shall mean any entity which is, or at any applicable
time was, a member of (a) a controlled group of corporations (as defined in
Section 414(b) of the Code), (b) a group of trades or businesses under common
control (as defined in Section 414(c) of the Code), or (c) an affiliated service
group (as defined under Section 414(m) of the Code or the regulations under
Section 414(o) of the Code), any of which includes or included the Company.

      "Escrow Agent" shall mean U.S. Bank National Association.

      "Escrow Agreement" shall mean the Escrow Agreement in the form attached
hereto as Exhibit B by and among the Buyer, the Representative and the Escrow
Agent.

      "Escrow Amount" shall mean, with respect to each Company Stockholder whose
Company Shares are convertible into Buyer Common Shares pursuant to Section
1.5(a) or 1.5(c), such number of Buyer Common Shares obtained by multiplying (a)
the Company Stockholder's Escrow Percentage by (b) the aggregate number of
Escrow Shares (with any fraction of one-half of a share or more resulting from
such multiplication to be rounded up to the nearest whole number and any
fraction of less than one-half of a share resulting from such multiplication to
be rounded down to the nearest whole number).

      "Escrow Percentage" applicable to each Company Stockholder whose Company
Shares are convertible into Buyer Common Shares pursuant to Section 1.5(a) or
1.5(c), shall mean the percentage (expressed as a fraction) obtained as a result
of dividing (a) the number of issued and outstanding Company Shares (determined
on an as converted to Common Shares basis) owned by such Company Stockholder
immediately prior to the Effective Time by (b) the aggregate number of Company
Shares (determined on an as converted to Common Shares basis) issued and
outstanding immediately prior to the Effective Time are convertible to Buyer
Common Shares pursuant to Section 1.5(a) or 1.5(c).

                                      -57-
<PAGE>

      "Escrow Period" shall mean the period during which Escrow Shares are to be
held in escrow, as set forth in the Escrow Agreement.

      "Escrow Shares" shall mean 406,250 Buyer Common Shares deposited in escrow
pursuant to Sections 1.5(e), 1.6(b) and Section 1.11(a) and held and disposed of
in accordance with the terms of the Escrow Agreement.

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

      "Exchange Agent" shall mean Computershare.

      "Expected Claim Notice" shall mean a notice that, as a result of a legal
proceeding instituted by or written claim made by a third party, the Buyer
reasonably expects to incur Damages for which it is entitled to indemnification
under Article VI.

      "Exploit" shall mean develop, design, test, modify, make, use, sell, have
made, used and sold, import, reproduce, market, distribute, commercialize,
support, maintain, correct and create derivative works of.

      "Financial Statements" shall mean:

            (a) the audited balance sheets and statements of income, changes in
stockholders' equity and cash flows of the Company, and all required footnote
disclosures, as of the end of and for each of the fiscal years ended June 30,
2004, 2005, and 2006, as certified without qualification by Correia &
Associates, the Company's independent public accountants; and

            (b) the unaudited balance sheets of the Company for the quarter
ended September 30, 2006, and any calendar quarter between the date of this
Agreement and the Closing Date, and the related unaudited statements of
operations, changes in stockholders' equity and cash flows for each of the
fiscal quarters then ended, which interim financial statements shall have been
reviewed in accordance with Statement of Accounting Standards No. 100.

      "GAAP" shall mean United States generally accepted accounting principles.

      "Governmental Entity" shall mean any domestic or foreign court,
arbitrational tribunal, administrative agency or commission or other domestic or
foreign governmental or regulatory authority or agency.

      "Hart-Scott-Rodino Act" shall mean the Hart-Scott-Rodino Antitrust
Improvements Act of 1976, as amended.

      "Initial Merger Shares" shall have the meaning set forth in Section
1.5(e).

      "Intellectual Property" shall mean the following subsisting throughout the
world:

            (a)   Patent Rights;

            (b)   Trademarks and all goodwill in the Trademarks

            (c)   copyrights, designs, data and database rights and
                  registrations and applications for registration thereof,
                  including moral rights of authors;

                                      -58-
<PAGE>

            (d)   mask works and registrations and applications for registration
                  thereof;

            (e)   inventions, trade secrets and confidential business
                  information, know-how, manufacturing and product processes and
                  techniques, research and development information, financial,
                  marketing and business data, pricing and cost information,
                  business and marketing plans and customer and supplier lists
                  and information, whether patentable or nonpatentable, whether
                  copyrightable or noncopyrightable and whether or not reduced
                  to practice; and

            (f)   other proprietary rights relating to any of the foregoing
                  (including remedies against infringement thereof and rights of
                  protection of interest therein under the laws of all
                  jurisdictions).

      "Intellectual Property Registrations" means Patent Rights, Trademark
registrations, copyright and design registrations, mask work registrations and
applications for each of the foregoing.

      "Internal Systems" shall mean the Software and Documentation and the
computer, communications and network systems (both desktop and enterprise-wide),
laboratory equipment, reagents, materials and test, calibration and measurement
apparatus developed by the Company and used by the Company in its business or
operations or to develop, manufacture, fabricate, assemble, provide, distribute,
support, maintain or test the Customer Offerings, whether located on the
premises of the Company or hosted at a third party site.

      "Knowledge of the Company", "Company's Knowledge" and phrases of like
import shall mean the knowledge of Troy Snyder, John Walpuck, Todd Walsh,
Christopher Knox, Jerry Scheibeler, Andy Dwyer, Dort Cameron and Robert Green.
The above named individuals will be deemed to have knowledge of a particular
fact, circumstance, event or other matter if (a) such individual has actual
knowledge of such fact, circumstance, event or other matter, (b) such fact,
circumstance, event or other matter is reflected in one or more documents
(whether written or electronic, including electronic mails sent to or by such
individual) in the possession of such individual, including his or her personal
files, (c) such fact, circumstance, event or other matter is reflected in one or
more documents (whether written or electronic) contained in books and records of
such individual that would reasonably be expected to be reviewed by such
individual in the customary performance of his or her duties or (d) such fact,
circumstance, event or other matter would be known to such individual had he or
she made reasonable inquiry of appropriate employees.

      "Lease" shall mean any lease or sublease pursuant to which the Company
leases or subleases from another party any real property.

      "Legal Proceeding" shall mean any action, suit, proceeding, claim,
arbitration or, to the knowledge of the applicable party, complaint, hearing or
investigation before any Governmental Entity or before any arbitrator.

      "Litigation Matter" shall mean any Legal Proceedings in which the Company
is a party at the Closing Date.

      "Loan Amount" shall mean the number of Buyer Common Shares equal to (i)
all principal and accrued interest payable under the Principal Stockholder Loans
divided by (ii) the Buyer Share Price.

      "Materials of Environmental Concern" shall mean any: pollutants,
contaminants or hazardous substances (as such terms are defined under CERCLA),
pesticides (as such term is defined under the Federal Insecticide, Fungicide and
Rodenticide Act), solid wastes and hazardous wastes (as such terms

                                      -59-
<PAGE>

are defined under the Resource Conservation and Recovery Act), chemicals, other
hazardous, radioactive or toxic materials, oil, petroleum and petroleum products
(and fractions thereof), or any other material (or article containing such
material) listed or subject to regulation under any law, statute, rule,
regulation, order, Permit, or directive due to its potential, directly or
indirectly, to harm the environment or the health of humans or other living
beings.

      "Merger" shall mean the merger of the Transitory Subsidiary with and into
the Company in accordance with the terms of this Agreement.

      "Merger Shares" shall mean the Buyer Common Shares to be distributed to
the Equity Holders in the Merger.

      "Most Recent Balance Sheet" shall mean the unaudited balance sheet of the
Company as of the Most Recent Balance Sheet Date.

      "Most Recent Balance Sheet Date" shall mean September 30, 2006.

      "Net Asset Value" shall mean the total assets of the Company, excluding
goodwill and any deferred tax assets, less the total liabilities of the Company
as shown on the Preliminary Closing Balance Sheet or the Closing Balance Sheet,
as the case may be.

      "Neutral Accountant" shall have the meaning set forth in Section 1.10(d).

      "Non-competition Party" shall mean Troy Snyder, Christopher Knox, Jerry
Scheibeler, Andy Dwyer, John Walpuck, Dort Cameron and Robert Green.

      "Non-controlling Party" shall mean the party not controlling the defense
of any Third Party Action.

      "Open Source Materials" means all Software, Documentation or other
material that is distributed as "free software", "open source software" or under
a similar licensing or distribution model, including, but not limited to, the
GNU General Public License (GPL), GNU Lesser General Public License (LGPL),
Mozilla Public License (MPL), or any other license described by the Open Source
Initiative as set forth on www.opensource.org.

      "Option" shall mean each option to purchase or acquire Company Shares.

      "Option Plan" shall mean the Company's 2000 Stock Option Plan and 2002
Stock Option Plan.

      "Ordinary Course of Business" shall mean the ordinary course of business
consistent with past custom and practice (including with respect to frequency
and amount).

      "Other Company Stockholders" shall mean stockholders of the Company other
than the Principal Stockholders.

      "Parties" shall have the meaning set forth in the first paragraph of this
Agreement.

      "Patent Rights" shall mean all patents, patent applications, utility
models, design registrations and certificates of invention and other
governmental grants for the protection of inventions or industrial designs
(including all related continuations, continuations-in-part, divisionals,
reissues and reexaminations).

                                      -60-
<PAGE>

      "Permits" shall mean all permits, licenses, registrations, certificates,
orders, approvals, franchises, variances and similar rights issued by or
obtained from any Governmental Entity (including those issued or required under
Environmental Laws and those relating to the occupancy or use of owned or leased
real property).

      "Permitted Matters" shall have the meaning set forth in Section 6.3(a).

      "Pre-Closing Period" shall have the meaning set forth in Section 4.4.

      "Preferred Conversion Ratio" shall have the meaning set forth in Section
1.5(b).

      "Preferred Shares" shall mean the shares of preferred stock, par value
$0.01 per share, of the Company.

      "Preliminary Base Purchase Price" shall have the meaning set forth in
Section 1.10(a).

      "Preliminary Closing Balance Sheet" shall have the meaning set forth in
Section 1.10(a).

      "Preliminary Closing Balance Sheet Date" shall have the meaning set forth
in Section 1.10(a).

      "Preliminary Net Asset Value" shall have the meaning set forth in Section
1.10(a).

      "Principal Stockholders" shall have the meaning set forth in the first
paragraph of this Agreement.

      "Principal Stockholder Loans" shall mean all outstanding instruments of
indebtedness issued by the Company to certain of the Principal Stockholders, all
of which are identified in Section 2.27 of the Disclosure Schedule.

      "Reasonable Best Efforts" shall mean best efforts, to the extent
commercially reasonable.

      "Representative" shall mean Wren Holdings, L.L.C.

      "Requisite Stockholder Approval" shall mean the adoption of this Agreement
and the approval of the Merger by the requisite number of votes required under
Delaware General Corporation Law and the certificate of incorporation, by-laws
and other governing documents of the Company.

      "Response" shall mean a written response containing the information
provided for in Section 6.2(c).

      "SEC" shall mean the United States Securities and Exchange Commission.

      "Securities Act" shall mean the Securities Act of 1933, as amended.

      "Security Interest" shall mean any mortgage, pledge, security interest,
encumbrance, charge or other lien (whether arising by contract or by operation
of law), other than (a) mechanic's, material men's and similar liens, (b) liens
arising under worker's compensation, unemployment insurance, social security,
retirement and similar legislation, and (c) liens on goods in transit incurred
pursuant to documentary letters of credit, in each case arising in the Ordinary
Course of Business of the Company and not material to the Company.

                                      -61-
<PAGE>

      "Share Merger Consideration" shall mean 3,250,000 Buyer Common Shares,
subject to adjustment pursuant to Sections 1.10(a)(i) and 1.10(a)(ii).

      "Software" shall mean computer software code, applications, utilities,
development tools, diagnostics, databases and embedded systems, whether in
source code, interpreted code or object code form.

      "Stockholder Registration Statement" shall mean a registration statement
on Form S-3 pursuant to Rule 415 of the Securities Act covering the continuous
resale to the public by the Company Stockholders and the holders of Warrants of
the Merger Shares.

      "Surviving Corporation" shall mean the Company, as the surviving
corporation in the Merger.

      "Target Amount" shall mean $0.

      "Tax Proceeding" shall mean any Tax audit, examination or administrative
or judicial proceeding, including without limitation any assessment, notice of
deficiency, or other adjustment or proposed adjustment relating to Taxes.

      "Tax Returns" shall mean any and all reports, returns, declarations, or
statements relating to Taxes, including any schedule or attachment thereto and
any related or supporting workpapers or information with respect to any of the
foregoing, including any amendment thereof.

      "Taxes" shall mean any taxes, charges, fees, duties, contributions, levies
or other similar assessments or liabilities, including, income, gross receipts,
corporation, ad valorem, premium, value-added, net worth, capital stock, capital
gains, excise, real property, personal property, sales, use, license, lease,
service, service use, transfer, withholding, employment, unemployment,
insurance, social security, business license, business organization,
environmental, workers compensation, payroll, profits, severance, stamp,
occupation, windfall profits, customs duties, franchise and other taxes imposed
by the United States of America or any state, local or foreign government, or
any agency or political subdivision thereof, and any interest, fines, penalties,
assessments or additions to tax imposed with respect to such items or any
contest or dispute thereof.

      "Third Party Action" shall mean any suit or proceeding by a person or
entity other than a Party for which indemnification may be sought by the Buyer
under Article VI.

      "Total Company Shares" shall mean the number of Company Shares equal to
the sum of (X) the number of Common Shares outstanding immediately prior to the
Effective Time plus (Y) the number of Common Shares that would be issued upon
the conversion, exercise or exchange of all of the Company's securities
convertible into, exercisable for or exchangeable for Common Shares (including,
but not limited to, all vested and unvested outstanding Options, Warrants,
convertible preferred stock and convertible promissory notes) ; provided,
however, that the Common Shares issuable upon the conversion of the Principal
Stockholder Loans pursuant to Section 4.14 shall not be included in the
determination of Total Company Shares.

      "Total Merger Consideration" shall mean the aggregate number of Buyer
Common Shares issuable, and the aggregate Cash Merger Consideration payable, by
the Buyer pursuant to this Agreement.

      "Trademarks" shall mean all registered trademarks and service marks,
logos, Internet domain names, corporate names and doing business designations
and all registrations and applications for registration of the foregoing, common
law trademarks and service marks and trade dress.

                                      -62-
<PAGE>

      "Transaction Costs" shall mean the transaction fees and expenses payable
by the Company in connection with the transactions contemplated by this
Agreement, including legal, accounting, financial advisory and brokerage fees.

      "Transitory Subsidiary" shall have the meaning set forth in the first
paragraph of this Agreement.

      "Warrant" shall mean each warrant or other contractual right to purchase
or acquire Company Shares.

      "Work Permit" shall have the meaning set forth in Section 2.21(f).

                                   ARTICLE XII
                                  MISCELLANEOUS

      12.1 Press Releases and Announcements. No Party shall issue any press
release or public announcement relating to the subject matter of this Agreement
without the prior written approval of the other Parties; provided, however, that
(a) any Party may make any public disclosure it believes in good faith is
required by applicable law, regulation or stock market rule (in which case the
disclosing Party shall use reasonable efforts to advise the other Parties and
provide them with a copy of the proposed disclosure prior to making the
disclosure) and (b) the Buyer and its Affiliates shall not be bound by the
provisions of this Section 12.1 following the Closing Date.

      12.2 No Third Party Beneficiaries. Except as provided in Section 4.13,
this Agreement shall not confer any rights or remedies upon any person other
than the Parties and their respective successors and permitted assigns.

      12.3 Entire Agreement. This Agreement (including the documents referred to
herein) constitutes the entire agreement among the Parties and supersedes any
prior understandings, agreements or representations by or among the Parties,
written or oral, with respect to the subject matter hereof; provided that the
Nondisclosure Agreement dated August 18, 2006, between the Buyer and the
Company, shall remain in effect in accordance with its terms.

      12.4 Succession and Assignment. This Agreement shall be binding upon and
inure to the benefit of the Parties named herein and their respective successors
and permitted assigns. No Party may assign either this Agreement or any of its
rights, interests or obligations hereunder without the prior written approval of
the other Parties; provided that the Transitory Subsidiary may assign its
rights, interests and obligations hereunder to an Affiliate of the Buyer.

      12.5 Counterparts and Facsimile Signature. This Agreement may be executed
in two or more counterparts, each of which shall be deemed an original but all
of which together shall constitute one and the same instrument. This Agreement
may be executed by facsimile signature.

      12.6 Headings. The section headings contained in this Agreement are
inserted for convenience only and shall not affect in any way the meaning or
interpretation of this Agreement.

      12.7 Notices. All notices, requests, demands, claims, and other
communications hereunder shall be in writing. Any notice, request, demand, claim
or other communication hereunder shall be deemed duly delivered two business
days after it is sent by registered or certified mail, return receipt requested,
postage prepaid, or one business day after it is sent for next business day
delivery via a reputable nationwide overnight courier service, in each case to
the intended recipient as set forth below:

                                      -63-
<PAGE>

<TABLE>
<S>                                                          <C>
To the Buyer or the Transitory Subsidiary:                   with a copy to:

Akamai Technologies, Inc.                                    Wilmer Cutler Pickering Hale and Dorr LLP
8 Cambridge Center                                           60 State Street
Cambridge, MA 02142                                          Boston, MA  02109
Attn:  General Counsel                                       Attn: Susan W. Murley, Esq.
Telecopy:  (617) 444-3695                                    Telecopy:  (617) 526-5000
Telephone:   (617) 444-3000                                  Telephone:  (617) 526-6000

To the Company:                                              To the Company Stockholders:

Nine Systems Corporation                                     c/o Andrew T. Dwyer
10509 Vista Sorrento Parkway                                 as Representative
Suite 200                                                    Wren Holdings, LLC
San Diego, CA 92121                                          c/o Airlie Group
Attn: Troy Snyder                                            115 East Putnam Ave.,
Telecopy: (858) 453-0393                                     Greenwich, CT 06830
Telephone: (858) 332-3903                                    Telecopy: (203) 661-0479
                                                             Telephone: (203) 661-6200

With a copy to:

Satterlee Stephens Burke & Burke LLP
230 Park Ave.
New York, NY 10169
Attn: William M. Jackson, Esq.
Telecopy:   (212) 818-9606
Telephone:   (212) 818-9200
</TABLE>

Any Party may give any notice, request, demand, claim or other communication
hereunder using any other means (including personal delivery, expedited courier,
messenger service, telecopy, telex, ordinary mail or electronic mail), but no
such notice, request, demand, claim or other communication shall be deemed to
have been duly given unless and until it actually is received by the party for
whom it is intended. Any Party may change the address to which notices,
requests, demands, claims, and other communications hereunder are to be
delivered by giving the other Parties notice in the manner herein set forth.

      12.8 Governing Law. All matters arising out of or relating to this
Agreement and the transactions contemplated hereby (including without limitation
its interpretation, construction, performance and enforcement) shall be governed
by and construed in accordance with the internal laws of the State of Delaware
without giving effect to any choice or conflict of law provision or rule
(whether of the State of Delaware or any other jurisdiction) that would cause
the application of laws of any jurisdictions other than those of the State of
Delaware.

      12.9 Amendments and Waivers. The Parties may mutually amend any provision
of this Agreement at any time prior to the Closing; provided, however, that any
amendment effected subsequent to the Requisite Stockholder Approval shall be
subject to any restrictions contained in the Delaware General Corporation Law.
No amendment of any provision of this Agreement shall be valid unless the same
shall be in writing and signed by all of the Parties. No waiver of any right or
remedy hereunder shall be valid unless the same shall be in writing and signed
by the Party giving such waiver. No waiver

                                      -64-
<PAGE>

by any Party with respect to any default, misrepresentation or breach of
warranty or covenant hereunder shall be deemed to extend to any prior or
subsequent default, misrepresentation or breach of warranty or covenant
hereunder or affect in any way any rights arising by virtue of any prior or
subsequent such occurrence.

      12.10 Severability. Any term or provision of this Agreement that is
invalid or unenforceable in any situation in any jurisdiction shall not affect
the validity or enforceability of the remaining terms and provisions hereof or
the validity or enforceability of the offending term or provision in any other
situation or in any other jurisdiction. If the final judgment of a court of
competent jurisdiction declares that any term or provision hereof is invalid or
unenforceable, the Parties agree that the court making the determination of
invalidity or unenforceability shall have the power to limit the term or
provision, to delete specific words or phrases, or to replace any invalid or
unenforceable term or provision with a term or provision that is valid and
enforceable and that comes closest to expressing the intention of the invalid or
unenforceable term or provision, and this Agreement shall be enforceable as so
modified.

      12.11 Submission to Jurisdiction. Each Party (a) submits to the
jurisdiction of any state or federal court sitting in New York, New York in any
action or proceeding arising out of or relating to this Agreement (including any
action or proceeding for the enforcement of any arbitral award made in
connection with any arbitration of a Dispute hereunder), (b) agrees that all
claims in respect of such action or proceeding may be heard and determined in
any such court, (c) waives any claim of inconvenient forum or other challenge to
venue in such court, (d) agrees not to bring any action or proceeding arising
out of or relating to this Agreement in any other court, and (e) waives any
right it may have to a trial by jury with respect to any action or proceeding
arising out of or relating to this Agreement; provided in each case that, solely
with respect to any arbitration of a Dispute, the Arbitrator shall resolve all
threshold issues relating to the validity and applicability of the arbitration
provisions of this Agreement, contract validity, applicability of statutes of
limitations and issue preclusion, and such threshold issues shall not be heard
or determined by such court. Each Party agrees to accept service of any summons,
complaint or other initial pleading made in the manner provided for the giving
of notices in Section 12.7, provided that nothing in this Section 12.11 shall
affect the right of any Party to serve such summons, complaint or other initial
pleading in any other manner permitted by law.

      12.12 Construction.

            (a) The language used in this Agreement shall be deemed to be the
language chosen by the Parties to express their mutual intent, and no rule of
strict construction shall be applied against any Party.

            (b) Any reference to any federal, state, local or foreign statute or
law shall be deemed also to refer to all rules and regulations promulgated
thereunder, unless the context requires otherwise.

            (c) Any reference herein to "including" shall be interpreted as
"including without limitation".

            (d) Any reference to any Article, Section or paragraph shall be
deemed to refer to an Article, Section or paragraph of this Agreement, unless
the context clearly indicates otherwise.

                [REMAINDER OF THE PAGE INTENTIONALLY LEFT BLANK]

                                      -65-
<PAGE>

      IN WITNESS WHEREOF, the Parties have executed this Agreement as of the
date first above written.

                                        AKAMAI TECHNOLOGIES, INC.:

                                        /s/ Paul Sagan
                                        ---------------------------------------

                                        By: Paul Sagan

                                        Title: President & CEO

                                        NANTUCKET ACQUISITION CORP.:

                                        /s/ Paul Sagan
                                        ---------------------------------------

                                        By: Paul Sagan

                                        Title: President

                                        NINE SYSTEMS CORPORATION:

                                        /s/ Troy Snyder
                                        ---------------------------------------

                                        By: Troy Snyder

                                        Title: President and CEO

<PAGE>

                                        JAVVA PARTNERS LLC

                                        By: /s/ Howard Katz
                                            -----------------------------------
                                            Name: Howard Katz
                                            Title: Managing Member

                                        WREN HOLDINGS, L.L.C.

                                        By: /s/ Dort Cameron
                                            -----------------------------------
                                            Name: Dort A. Cameron III
                                            Title: Managing Member

                                        CATALYST INVESTORS, L.P.

                                        By: Catalyst Investors Partners, L.P.,
                                            Its General Partner

                                        By: Catalyst Investors Partners, L.L.C.,
                                            Its General Partner

                                        By: /s/ Christopher J. Shipman
                                            -----------------------------------
                                            Name: Christopher J. Shipman
                                            Title: Vice President

                                        JANNEY MONTGOMERY & SCOTT, INC., AS
                                        CUSTODIAN UNDER IRA FOR THE BENEFIT OF
                                        ANDREW T. DWYER

                                        By: /s/ Ross Campbell
                                            -----------------------------------
                                            Name: Ross Campbell
                                            Title: Senior Vice President

                                        JANNEY MONTGOMERY & SCOTT, INC., AS
`                                       CUSTODIAN UNDER SEP FOR THE BENEFIT OF
                                        ANDREW T. DWYER

                                        By: /s/ Ross Campbell
                                            -----------------------------------
                                            Name: Ross Campbell
                                            Title: Senior Vice President

                                      -67-
<PAGE>

                                        CAMERON FAMILY PARTNRERS, L.P.

                                        By: /s/ Dort Cameron
                                            -----------------------------------
                                            Name: Dort A Cameron
                                            Title:

                                      -68-
<PAGE>

The undersigned are each a party to this Agreement and Plan of Merger solely for
the purposes of Section 9.3 hereof:

                                        TROY SNYDER

                                        /s/ Troy Snyder
                                        ---------------------------------------

                                        CHRISTOPHER KNOX

                                        /s/ Christopher Knox
                                        ---------------------------------------

                                        JERRY SCHEIBELER

                                        /s/ Jerry Scheiberler
                                        ---------------------------------------

                                        ANDY DWYER

                                        /s/ Andy Dwyer
                                        ---------------------------------------

                                        DORT CAMERON

                                        /s/ Dort Cameron
                                        ---------------------------------------

                                        JOHN WALPUCK

                                        /s/ John Walpuck
                                        ---------------------------------------

                                        ROBERT GREEN

                                        /s/ Robert Green
                                        ---------------------------------------

                                      -69-
<PAGE>

                                    EXHIBIT A

                        INVESTMENT REPRESENTATION LETTER

                               ____________, 2006

Akamai Technologies, Inc.
8 Cambridge Center
Cambridge, MA 02142

Dear Sirs:

      In order to induce Akamai Technologies, Inc., a Delaware corporation (the
"Buyer"), to issue to the undersigned shares of common stock of the Buyer (the
"Shares") pursuant to the Agreement and Plan of Merger dated November __, 2006
(the "Agreement") among the Buyer, a subsidiary of the Buyer, Nine Systems
Corporation, a Delaware corporation (the "Company"), and the Principal
Stockholders (as defined in the Agreement), the undersigned represents and
warrants to the Buyer, for the purposes of determining whether the undersigned
falls within the definition of an "accredited investor" and with the
understanding that the Buyer will rely thereon, as follows:

INSTRUCTIONS: PLEASE CHECK ANY OF THE APPROPRIATE BLOCKS FOR ANY STATEMENT THAT
APPLIES TO YOU:

[ ]   The undersigned is a natural person whose individual net worth, or joint
      net worth with his or her spouse, exceeds $1,000,000, and the undersigned
      has no reason to believe that such net worth will decrease.

[ ]   The undersigned is a natural person who had an individual income in
      excess of $200,000 in each of the two most recent years or joint income
      with his or her spouse in excess of $300,000 in each of those years and
      has a reasonable expectation of reaching the same income level in the
      current year.

[ ]   The undersigned is a bank as defined in Section 3(a)(2) of the
      Securities Act or any savings and loan association or other institution as
      defined in Section 3(a)(5)(A) of the Securities Act whether acting in its
      individual or fiduciary capacity; a broker dealer registered pursuant to
      Section 15 of the Securities Exchange Act of 1934; an insurance company as
      defined in Section 2(13) of the Securities Act; an investment company
      registered under the Investment Company Act of 1940 or a business
      development company as defined in Section 2(a)(48) of that Act; a Small
      Business Investment Company licensed by the U.S. Small Business
      Administration under Section 301(c) or (d) of the Small Business
      Investment Act of 1958; a plan established and maintained by a state, its
      political subdivisions, or any agency or instrumentality of a state or its
      political subdivisions, for the benefit of its employees, if such plan has
      total assets in excess of

                                      -70-
<PAGE>

      $5,000,000; an employee benefit plan within the meaning of the Employee
      Retirement Income Security Act of 1974, if the investment decision is made
      by a plan fiduciary, as defined in Section 3(21) of such Act, which is
      either a bank, savings and loan association, insurance company, or
      registered investment adviser, or if the employee benefit plan has total
      assets in excess of $5,000,000, or, if a self-directed plan, with
      investment decisions made solely by persons that are accredited investors.

[ ]   The undersigned is a private business development company as defined in
      Section 202(a)(22) of the Investment Advisers Act of 1940.

[ ]   The undersigned is an organization described in Section 501(c)(3) of the
      Internal Revenue Code, corporation, Massachusetts or similar business
      trust, or partnership, not formed for the specific purpose of acquiring
      the securities of the Buyer, with total assets in excess of $5,000,000.

[ ]   The undersigned is a trust with total assets in excess of $5,000,000,
      not formed for the specific purpose of acquiring the securities of the
      Buyer, whose purchase is directed by a sophisticated person as described
      in Rule 506(b)(2)(ii).

[ ]   The undersigned is an entity in which all the equity owners are
      accredited investors.

      The undersigned further represents, warrants and covenants as follows:

      The undersigned has good and marketable title, free and clear of any and
all liens or security interests, to all of the shares of capital stock of the
Company surrendered or to be surrendered by the undersigned to the Buyer
pursuant to the merger contemplated by the Agreement, and has the full right,
power and authority to surrender such shares to the Buyer pursuant to such
merger.

      The undersigned is acquiring the Shares for its own account for investment
only, and not with a view to, or for sale in connection with, any distribution
of the Shares in violation of the Securities Act of 1933 (the "Securities Act"),
or any rule or regulation under the Securities Act.

      The undersigned has had adequate opportunity to obtain from
representatives of the Buyer such information about the Buyer as is necessary
for the undersigned to evaluate the merits and risks of its acquisition of the
Shares.

      The undersigned has sufficient expertise in business and financial matters
to be able to evaluate the risks involved in the acquisition of the Shares and
to make an informed investment decision with respect to such acquisition.

      The undersigned understands that the Shares have not been registered under
the Securities Act and are "restricted securities" within the meaning of Rule
144 under the Securities Act; and the Shares cannot be sold, transferred or
otherwise disposed of unless they are subsequently registered under the
Securities Act or an exemption from registration is then available.

                                      -71-
<PAGE>

      A legend substantially in the following form will be placed on the
certificate(s) representing the Shares:

            "The shares represented by this certificate have not been registered
            under the Securities Act of 1933, as amended, and may not be sold,
            transferred or otherwise disposed of in the absence of an effective
            registration statement under such Act or an opinion of counsel
            satisfactory to the corporation to the effect that such registration
            is not required."

      The undersigned has carefully read this agreement and discussed its
requirements, to the extent the undersigned believed necessary, with its counsel
or counsel for the Company.

                                        Very truly yours,

                                        ---------------------------------------
                                        Signature

                                        ---------------------------------------
                                        Print Name

                                      -72-
<PAGE>

                                    EXHIBIT B

                                ESCROW AGREEMENT

      THIS ESCROW AGREEMENT (the "Agreement"), is entered into as of December
13, 2006, by and among (i) Akamai Technologies, Inc., a Delaware corporation
(the "Buyer"), (ii) Wren Holdings, L.L.C., as the representative (the
"Representative") of the Company Stockholders (as defined below), and (iii) U.S.
Bank National Association, as escrow agent (the "Escrow Agent").

                              W I T N E S S E T H:

      WHEREAS, the Buyer, Nine Systems Corporation, a Delaware corporation (the
"Company"), Nantucket Acquisition Corp., a Delaware corporation and a wholly
owned subsidiary of Buyer ("Transitory Sub"), and Wren Holdings, L.L.C., Cameron
Family Partnership, L.P., Janney Montgomery & Scott, Inc., as custodian under
SEP fbo Andrew T. Dwyer, Janney Montgomery & Scott, Inc., as custodian under IRA
fbo Andrew T. Dwyer, Javva Partners LLC and Catalyst Investors, L.P.
(collectively, the "Principal Stockholders") entered into an Agreement and Plan
of Merger dated November 17, 2006 (the "Merger Agreement"), providing for the
merger of Transitory Sub with and into the Company, and setting forth certain
covenants and conditions in respect thereof; and

      WHEREAS, the Merger Agreement provides that a portion of the Total Merger
Consideration (as defined below) to be paid by the Buyer to the Company
Stockholders thereunder shall be held in escrow pursuant to this Agreement; and

      WHEREAS, the Buyer, the Company Stockholders and the Representative desire
that the Escrow Agent hold and release such escrowed consideration, and the
Escrow Agent is willing to do so, on the terms and conditions hereinafter set
forth;

      NOW, THEREFORE, in consideration of the premises and the mutual covenants
contained herein, the parties hereto agree as follows:

1.    CERTAIN DEFINED TERMS.

      As used in this Agreement, the following terms shall have the following
      meanings:

      "Affiliate" shall mean any affiliate, as defined in Rule 12b-2 under the
      Securities Exchange Act of 1934, as amended.

      "Agreed Amount" shall mean any part, but not all, of the Claimed Amount.

      "Business Day" means any day that is not a Saturday, Sunday or other day
      on which the Escrow Agent is required or authorized by law to be closed.

      "Claim Notice" shall mean written notification which contains (a) a
      description of the Damages incurred or reasonably expected to be incurred
      by the Buyer or any Affiliate thereof, and the Claimed Amount of such
      Damages, to the extent then known, (b) a

                                      -73-
<PAGE>

      statement that the Buyer is entitled to indemnification under Article VI
      of the Merger Agreement for such Damages and a reasonable explanation of
      the basis therefor, and (c) a demand for payment in the amount of such
      Damages.

      "Claimed Amount" shall mean the amount of any Damages incurred or
      reasonably expected to be incurred by the Buyer or any Affiliate thereof
      in connection with a claim for indemnification pursuant to Article VI of
      the Merger Agreement.

      "Company Stockholders" shall mean the stockholders of record of the
      Company as of immediately prior to the effective time of the merger
      effected pursuant to the Merger Agreement.

      "Damages" shall mean any and all claims, debts, obligations and other
      liabilities (whether absolute, accrued, contingent, fixed or otherwise, or
      whether due or to become due or otherwise), diminution in value, monetary
      damages, fines, fees, penalties, interest obligations, losses and expenses
      (including amounts paid in settlement, interest, court costs, costs of
      investigators, fees and expenses of attorneys, accountants, financial
      advisors and other experts, and other expenses of litigation, arbitration
      or other dispute resolution proceedings), other than those costs and
      expenses of arbitration of a Dispute which are to be shared equally by the
      Buyer and the Company Stockholders as set forth in Section 6.2(e)(vi) of
      the Merger Agreement.

      "Dispute" shall mean the dispute resulting if the Representative, acting
      on behalf of the Company Stockholders, in a Response disputes the
      liability of the Company Stockholders for all or part of a Claimed Amount.

      "Exchange Agent" means Computershare, acting as exchange agent in
      connection with the delivery of the Total Merger Consideration pursuant to
      the Merger Agreement.

      "Expected Claim Notice" shall mean a notice that, as a result of a legal
      proceeding instituted by or written claim made by a third party, the Buyer
      reasonably expects to incur Damages for which it is entitled to
      indemnification under Article VI of the Merger Agreement.

      "Response" shall mean a written response from the Representative, on
      behalf of the Company Stockholders, with respect to a Claim Notice in
      which the Representative: (i) agrees that the Buyer is entitled to receive
      all of the Claimed Amount, (ii) agrees that the Buyer is entitled to
      receive the Agreed Amount, or (iii) disputes that the Buyer is entitled to
      receive any of the Claimed Amount.

      "Third Party Action" shall mean any suit or proceeding by a person or
      entity other than the Buyer, the Transitory Subsidiary, the Company or the
      Principal Stockholders for which indemnification may be sought by the
      Buyer under Article VI of the Merger Agreement.

      "Total Merger Consideration" shall have the meaning ascribed to such term
      in the Merger Agreement.

                                      -74-
<PAGE>

2.    Appointment of Escrow Agent. The Escrow Agent is hereby constituted and
      appointed as escrow agent hereunder.

3.    Escrow Shares. On the effective date of the Merger (as defined in the
      Merger Agreement), the Buyer shall instruct the Exchange Agent to deliver
      to the Escrow Agent a stock certificate, issued in the name of the Escrow
      Agent or its nominee, Var & Co., representing 406,250 shares of Common
      Stock, $0.01 par value per share (the "Common Stock"), of the Buyer (the
      "Escrow Shares") to be held by the Escrow Agent in accordance with the
      terms of this Agreement. Any securities distributed in respect of any of
      the Escrow Shares, whether by way of stock dividends, stock splits or
      otherwise, shall be issued in the name of the Escrow Agent or its nominee,
      and shall be delivered to the Escrow Agent, who shall hold such securities
      in the Escrow Account. Such securities shall be considered Escrow Shares
      for purposes hereof. Any cash dividends or property (other than
      securities) distributed in respect of the Escrow Shares shall promptly be
      released by the Escrow Agent to the Exchange Agent for distribution to the
      Company Stockholders. The Escrow Agent hereby agrees to act with respect
      to the Escrow Shares as hereinafter set forth. The Escrow Shares will be
      retained by the Escrow Agent for safekeeping pursuant to the terms hereof
      (a) as security for the indemnity obligations of certain of the Company
      Stockholders under Article VI of the Merger Agreement and (b) to satisfy,
      in accordance with Section 1.10 of the Merger Agreement, any post-closing
      adjustment obligations to the Buyer pursuant to Section 1.10(f)(i) of the
      Merger Agreement. The Escrow Shares are not subject to any transfer
      restrictions, except for contractual lock up restrictions for which the
      Escrow Agent shall not be responsible. Any cash held by the Escrow Agent
      hereunder shall remain uninvested. The Escrow Agent shall be under no
      obligation to sell any of the Escrow Shares.

4.    Release of Escrow Shares. The Escrow Agent shall release the Escrow Shares
      only in accordance with the provisions of this Section 4.

      4.1   In the event that Buyer desires to seek an indemnification claim
            hereunder, Buyer shall provide the Escrow Agent with a Claim Notice
            or Expected Claim Notice signed by the Buyer. Such Claim Notice or
            Expected Claim Notice shall specify the number of Escrow Shares
            represented by the Claimed Amount, calculated as the Claimed Amount
            divided by $46.15 per share, and rounded to the nearest whole number
            of Escrow Shares. Such Claim Notice or Expected Claim Notice shall
            be sent by the Buyer to the Escrow Agent and to the Representative
            simultaneously.

      4.2   If the Escrow Agent receives a Claim Notice and within twenty (20)
            days after the receipt by the Escrow Agent of such Claim Notice
            either (a) does not receive a Response from the Representative, or
            (b) receives a Response from the Representative in which the
            Representative agrees that the Buyer is entitled to receive all of
            the Claimed Amount, then, in either such case, the Escrow Agent will
            release to Buyer, on behalf of the Company Stockholders, a number of
            Escrow Shares specified in such Claim Notice within three (3)
            Business Days after the expiration of such 20-day period. The
            Representative shall send a copy

                                      -75-
<PAGE>

            of any Response to the Buyer at the same time such Response is sent
            to the Escrow Agent.

      4.3   If the Escrow Agent receives a Response that relates to a Claim
            Notice (other than a Response covered by Section 4.2 above) within
            twenty (20) days after the receipt by the Representative of such
            Claim Notice, the Escrow Agent will, in respect of such Claim
            Notice, release to the Buyer a number of Escrow Shares specified in
            such Response equal to the Agreed Amount (if any), calculated as
            specified in 4.1 above , within three (3) Business Days after the
            receipt of such Response; provided that, if the Response does not
            set forth the number of Escrow Shares equal to the Agreed Amount,
            within two (2) Business Days of receipt of the Response, the Buyer
            may provide such number of Escrow Shares, based upon the Agreed
            Amount divided $46.15, to the Escrow Agent (with a copy to the
            Representative) (the "Agreed Amount Share Notice")), in which case
            the Escrow Agent will release to the Buyer the number of Escrow
            Shares set forth in the Agreed Amount Share Notice within three (3)
            Business Days after the receipt of such Agreed Amount Share Notice.
            Acceptance by the Buyer of a partial payment of the Claimed Amount
            shall be without prejudice to the Buyer's right to claim the balance
            of any Claimed Amount.

      4.4   In case the Representative shall provide a Response with respect to
            any Claim Notice in accordance with Section 4.3 above, during the
            30-day period following delivery of the Response, the Representative
            and Buyer shall use good faith efforts to resolve the Dispute. If,
            within thirty (30) days after receipt of a Response involving a
            Dispute, the Representative and the Buyer are unable to agree on a
            resolution of the matter, the parties shall discuss in good faith
            the submission of the Dispute to binding arbitration, and if the
            Representative and the Buyer agree in writing to submit the Dispute
            to such arbitration, then the provisions of Section 6.3(e) of the
            Merger Agreement shall become effective with respect to such
            Dispute. The provisions of this Section 4.4 shall not obligate the
            Representative and the Buyer to submit to arbitration or any other
            alternative dispute resolution procedure with respect to any
            Dispute, and in the absence of an agreement by the Representative
            and the Buyer to arbitrate a Dispute, such Dispute shall be resolved
            in a state or federal court sitting in New York, New York, in
            accordance with Section 12.11 of the Merger Agreement. The
            Representative and the Buyer shall deliver to the Escrow Agent,
            promptly following the resolution of the Dispute (whether by mutual
            agreement, arbitration, final and unappealable judicial decision or
            otherwise), a written notice executed by both parties setting forth
            such resolution (which notice shall be consistent with the terms of
            the resolution of the Dispute) and instructing the Escrow Agent to
            deliver to the Buyer the number of Escrow Shares (if any) set forth
            in such notice.

      4.5   If the Closing Net Asset Value Adjustment (as defined in the Merger
            Agreement) is negative, as determined pursuant to the Merger
            Agreement, the Buyer and the Representative shall jointly notify the
            Escrow Agent within three (3) Business Days after any such
            determination is made pursuant to the terms of the Merger Agreement,
            and the Escrow Agent shall make the disbursement of Escrow Shares

                                      -76-
<PAGE>

            in the amount set forth in such notice within three (3) Business
            Days following its receipt of such notice. If the Closing Net Asset
            Value Adjustment is positive as determined pursuant to the Merger
            Agreement, the Buyer shall instruct the Exchange Agent to deliver to
            the Escrow Agent a stock certificate, in the name of the Escrow
            Agent or its nominee, for a number of shares of Common Stock that,
            when multiplied by $46.15 per share, will be equal to 12.5% of the
            Closing Net Asset Value Adjustment, such shares to be held in
            accordance with the terms of this Agreement; any such shares shall
            be considered "Escrow Shares" for purposes of this Agreement. The
            Buyer will deliver written notice to the Escrow Agent of such
            additional shares of Common Stock, and identify such shares as
            additional Escrow Shares.

      4.6   Within three (3) Business Days after June 13, 2008 (such date, the
            "Termination Date"), the Escrow Agent shall release to the Exchange
            Agent for distribution to the Company Stockholders all remaining
            Escrow Shares then held by the Escrow Agent less the number of
            Escrow Shares, if any, that will equal all amounts that are either
            subject to any unresolved Claim Notices or Expected Claim Notices
            (including any amounts subject to litigation under the terms of this
            Agreement) or are due to be released or disbursed under a Claim
            Notice or an Expected Claim Notice or written notice of release. In
            the event that any Escrow Shares are not released to the Exchange
            Agent pursuant to the first sentence of this Section 4.6, then any
            such remaining Escrow Shares shall be released or disbursed only in
            accordance with Sections 4.1, 4.2 and 4.3 hereof.

      4.7   The Escrow Agent shall, promptly after each release or disbursement
            of the Escrow Shares set forth in this Section 4, deliver to the
            Representative and the Buyer a notice setting forth the aggregate
            number of the Escrow Shares so released or disbursed to the Exchange
            Agent, for distribution to the Company Stockholders, or to the Buyer
            and the balance of the Escrow Shares as of such date.

5.    Transferability. Except as expressly set forth in this Agreement, the
      interest of the Company Stockholders, the Buyer, or the Escrow Agent in
      the Escrow Shares shall not be assignable or transferable, other than by
      operation of law; provided however, that each such assignee or transferee
      agrees in writing to be bound by all the terms and conditions of this
      Agreement as if he were an original party hereto and further provided that
      the assignor provides the other parties hereto prior written notice of
      such assignment or transfer. The Escrow Shares shall be held as a trust
      fund and none of the Company Stockholders or any party hereto shall
      pledge, grant a lien or other security interest, grant an option or
      otherwise encumber its interests in the Escrow Shares. Any assignment,
      transfer or encumbrance of an interest in the Escrow Shares in violation
      of this Section 5 shall be void.

6.    Termination. This Agreement shall terminate upon release, in accordance
      with the provisions hereof, of all Escrow Shares. The obligations of the
      Buyer and the Company Stockholders to pay accrued fees to the Escrow Agent
      pursuant to

                                      -77-
<PAGE>

      Section 8.7 hereof and of the Buyer and the Company Stockholders to
      indemnify the Escrow Agent pursuant to Section 8.8 hereof shall survive
      any termination of this Agreement or replacement of the Escrow Agent
      hereunder.

7.    No Creditor Rights. The Buyer and the Company Stockholders shall be
      entitled to receive Escrow Shares solely in accordance with the terms
      hereof. No creditor of the Buyer, the Company, the Exchange Agent or the
      Company Stockholders will have any rights in or to the Escrow Shares so
      long as such Escrow Shares remain subject to the terms of this Agreement.

8.    MATTERS RELATING TO THE ESCROW AGENT.

      8.1   The Escrow Agent undertakes to perform only such duties as are
            expressly set forth herein. The Escrow Agent shall have no liability
            under and no duty to inquire as to the provisions of any agreement
            other than this Agreement. Unless otherwise determined in this
            Agreement, the Escrow Agent shall not be bound by any notice of a
            claim, or demand with respect thereto, or any waiver, modification,
            amendment, termination, cancellation, or revision of this Agreement,
            unless it is in writing and signed by the Buyer and the
            Representative, and received by the Escrow Agent, and, if the Escrow
            Agent's duties as Escrow Agent hereunder are affected, unless the
            Escrow Agent shall have given its prior written consent thereto.

      8.2   The Escrow Agent may rely and shall be protected in acting or
            refraining from acting upon any written instructions or notices
            furnished to it hereunder and believed by it to be genuine and to
            have been signed and presented by the proper party or parties. The
            Escrow Agent shall be under no duty to inquire into or investigate
            the validity or accuracy of any such document. The Escrow Agent
            shall be under no duty to solicit any funds that may be deliverable
            to it under the terms of this Agreement. In the event that the
            Escrow Agent shall be uncertain as to its duties or rights hereunder
            or shall receive instructions, claims or demands from any party
            hereto which, in its opinion, conflict with any of the provisions of
            this Agreement, it shall be entitled to refrain from taking any
            action and its sole obligation shall be to keep safely all property
            held in escrow until it shall be directed otherwise in writing
            jointly by the Buyer and the Representative or by a Final Order.

      8.3   The Escrow Agent will not be liable for any action taken or omitted
            by it in good faith and believed by it to be authorized or within
            the rights and powers conferred upon it by this Agreement (other
            than actions or inactions in bad faith or for its gross negligence
            or willful misconduct), and may consult with outside counsel of its
            own choice and will be fully protected for any action taken by it
            hereunder in good faith and in accordance with the written opinion
            of such counsel.

      8.4   Any corporation or association into which the Escrow Agent may be
            merged or converted or with which it may be consolidated, or any
            corporation or association to which all or substantially all the
            escrow business of such Escrow Agent's corporate trust line of
            business may be transferred, shall be the Escrow Agent

                                      -78-
<PAGE>

            under this Agreement without further act upon at least 60 days'
            prior written notice to the Buyer and the Representative; provided
            that Buyer shall have the right within 30 days after receiving any
            such notice to appoint a different escrow agent, subject to the
            consent of the Representative, which consent shall not be
            unreasonably withheld, conditioned or delayed.

      8.5   The Escrow Agent may resign by giving written notice of such
            resignation to the Buyer and the Representative specifying a date
            (not less than 30 days after the giving of such notice) when such
            resignation shall take effect; provided, however, that such
            resignation shall not become effective until a successor escrow
            agent shall have been appointed and shall have accepted such
            appointment in writing and all consideration held in escrow pursuant
            to this Agreement has been transferred to such successor escrow
            agent. Promptly after such notice, the Buyer and the Representative
            will, by mutual agreement, appoint a successor escrow agent, such
            successor escrow agent to hold the consideration theretofore
            deposited with such Escrow Agent upon the resignation date specified
            in such notice. If a successor escrow agent is not appointed within
            30 days after written notice of resignation by the Escrow Agent is
            received by the Buyer and the Representative, such Escrow Agent
            shall have the right to petition any court of competent jurisdiction
            for the appointment of a successor escrow agent.

      8.6   The Buyer and the Representative may by mutual agreement at any time
            substitute a new escrow agent(s) by giving 15 days' notice thereof
            to the Escrow Agent then acting. The Escrow Agent shall continue to
            serve until its successor accepts the escrow and receives delivery
            of all consideration held in escrow pursuant to this Agreement.

      8.7   The Buyer, on the one hand, and the Company Stockholders, on the
            other hand, shall each (i) pay to the Escrow Agent 50% its service
            fees as stated in Exhibit B attached hereto, and (ii) reimburse the
            Escrow Agent upon request for 50% of all reasonable expenses,
            disbursements and advances, including (1) overnight delivery service
            charges and (2) reasonable attorneys' fees, incurred or made by it
            in connection with carrying out its duties hereunder. The Escrow
            Agent shall invoice each of the Buyer and the Representative (with
            respect to obligations of the Company Stockholders) separately in
            accordance with the provisions of this Section 8.7. The Escrow Agent
            shall not be required to release any Escrow Shares hereunder to the
            Representative or the Exchange Agent for distribution to the Company
            Stockholders if, at the time such Escrow Shares are to be released
            in accordance with this Agreement, there are any outstanding fees
            and expenses attributable to the Company Stockholders payable to the
            Escrow Agent pursuant to the terms of this Agreement. Upon payment
            of all such outstanding fees and expenses attributable to the
            Company Stockholders, the Escrow Agent shall promptly release such
            Escrow Shares in accordance with this Agreement.

      8.8   The Buyer and the Company Stockholders, jointly and severally, each
            agree to indemnify the Escrow Agent and its respective shareholders,
            directors, officers, agents and employees for, and to hold them
            harmless as to any liability, claims,

                                      -79-
<PAGE>

            suits, actions, proceedings (formal and informal), investigations,
            judgments, deficiencies, damages, settlements, incurred by it by
            reason of, or relating to, it having accepted such appointment or in
            carrying out the terms and its duties hereof, other than as incurred
            by reason of such Escrow Agent's gross negligence, bad faith or
            willful misconduct.

      8.9   The Escrow Agent shall not be responsible for any of the agreements
            referred to or described herein (including, without limitation, the
            Merger Agreement), or for determining or compelling compliance
            therewith, and shall not otherwise be bound thereby. The Escrow
            Agent shall be obligated only for the performance of such duties as
            are expressly and specifically set forth in this Escrow Agreement.
            Notwithstanding anything in this Agreement to the contrary, in no
            event shall the Escrow Agent be liable for special, indirect or
            consequential loss or damage of any kind whatsoever (including but
            not limited to lost profits), even if the Escrow Agent has been
            advised of the likelihood of such loss or damage and regardless of
            the form of action. The Escrow Agent shall not be responsible for
            delays or failures in performance due to acts of God, strikes,
            lockouts, riots, acts of war, epidemics, governmental regulations
            superimposed after the fact, fire, communication line failures,
            computer viruses, power failures, earthquakes or other disasters.

      8.10  The Escrow Agent is authorized to comply with and obey all laws,
            orders, judgments, decrees, and regulations of any governmental
            authority, court, tribunal, or arbitrator. If the Escrow Agent so
            complies, it shall not be liable even if such law, order, judgment,
            decree, or regulation is subsequently reversed, modified, annulled,
            set aside, vacated, or found to have been entered without
            jurisdiction.

9.    Notices. All notices, requests, claims, demands and other communications
      required or permitted to be given hereunder shall be in writing and will
      be delivered by hand or sent, postage prepaid, by or express mail or
      reputable overnight courier service, in each case where there is
      confirmation of delivery, and will be deemed given on the earlier of (a)
      the date of actual receipt, or (b) five (5) Business Days after being so
      mailed (two (2) Business Days in the case of overnight courier service).
      All such notices, requests, claims, demands and other communications will
      be addressed as set forth below, or pursuant to such other instructions as
      may be designated in writing by the party to receive such notice in
      accordance with this Section 9:

            (a)   if to the Representative:

                  Wren Holdings, L.L.C.
                  c/o Airlie Group
                  115 East Putnam Avenue
                  Greenwich, CT 06830

                                      -80-
<PAGE>

                  With a copy to:

                  Satterlee Stephens Burke & Burke LLP
                  230 Park Ave.
                  New York, NY 10169
                  Attn: William M. Jackson, Esq.

            (b)   if to Buyer:

                  Akamai Technologies, Inc.
                  8 Cambridge Center
                  Cambridge, MA 02142
                  Attn:  General Counsel

                  with a copy to:

                  Wilmer Cutler Pickering Hale and Dorr LLP
                  60 State Street
                  Boston, MA 02109
                  Attn:  Hal J. Leibowitz, Esq.

            (c)   If to the Escrow Agent:

                  U.S. Bank National Association
                  Corporate Trust Services
                  225Asylum Street, 23rd Floor
                  Hartford, CT 06103
                  Attn: Art Blakeslee
                  Ref: Akamai Technologies/Nine Systems
                  Tel: (860) 241-6859
                  Fax: (860) 241-6881

                                      -81-
<PAGE>

      If any notice or document is required to be delivered to the Escrow Agent
      and any other person, the Escrow Agent may assume without inquiry that
      each notice or document was received by such person when it is received by
      the Escrow Agent.

10.   GOVERNING LAW; CONSENT TO JURISDICTION.

      10.1  This Agreement shall be governed by, and construed in accordance
            with, the laws of the State of Delaware. Each of the parties to this
            Agreement hereby irrevocably and unconditionally submits, for itself
            and its assets and properties, to the exclusive jurisdiction of any
            Massachusetts State court, or Federal court of the United States of
            America, sitting within the Commonwealth of Massachusetts, and any
            appellate court from any thereof, in any action or proceeding
            arising out of or relating to this Agreement or the transactions
            contemplated hereby, or for recognition or enforcement of any
            judgment relating thereto, and each of the parties to this Agreement
            hereby irrevocably and unconditionally (i) agrees not to commence
            any such action or proceeding except in such courts; (ii) agrees
            that any claim in respect of any such action or proceeding may be
            heard and determined in such Massachusetts State court or, to the
            extent permitted by law, in such Federal court; (iii) waives, to the
            fullest extent it may legally and effectively do so, any objection
            which it may now or hereafter have to the laying of venue of any
            such action or proceeding in any such Massachusetts State or Federal
            court and (iv) waives, to the fullest extent permitted by law, the
            defense of an inconvenient forum to the maintenance of such action
            or proceeding in any such Massachusetts State or Federal court. Each
            of the parties to this Agreement hereby agrees that a final judgment
            in any such action or proceeding shall be conclusive and may be
            enforced in other jurisdictions by suit on the judgment or in any
            other manner provided by law. Each of the parties to this Agreement
            hereby irrevocably consents to service of process in the manner
            provided for notices in Section 9. Nothing in this Agreement shall
            affect the right of any party to this Agreement to serve process in
            any other manner permitted by applicable law.

      10.2  EACH PARTY TO THIS AGREEMENT ACKNOWLEDGES AND AGREES THAT ANY
            CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO
            INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE, IT HEREBY
            IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A
            TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY
            ARISING OUT OF OR RELATING TO THIS AGREEMENT AND ANY OF THE
            AGREEMENTS DELIVERED IN CONNECTION WITH THIS AGREEMENT OR THE
            TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. EACH PARTY TO THIS
            AGREEMENT CERTIFIES AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE,
            AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR
            OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF
            LITIGATION, SEEK

                                      -82-
<PAGE>

            TO ENFORCE EITHER OF SUCH WAIVERS, (II) IT UNDERSTANDS AND HAS
            CONSIDERED THE IMPLICATIONS OF SUCH WAIVERS, (III) IT MAKES SUCH
            WAIVERS VOLUNTARILY AND (IV) IT HAS BEEN INDUCED TO ENTER INTO THIS
            AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND
            CERTIFICATIONS IN THIS SECTION 10.2.

11.   Representative. The Principal Stockholders, by their execution of the
      Merger Agreement, and the Other Company Stockholders (as defined in the
      Merger Agreement), by the approval of the Merger (as defined in the Merger
      Agreement) and adoption of the Merger Agreement and/or their acceptance of
      any Total Merger Consideration, authorized and consented to: (a) the
      appointment of the Representative (i) to make all decisions relating to
      the Closing Net Asset Value Adjustment, (ii) to take all action necessary
      in connection with the defense and/or settlement of any claims for which
      the Company Stockholders may be required to indemnify the Buyer and/or the
      Surviving Corporation (as defined in the Merger Agreement) pursuant to the
      Merger Agreement and (iii) to take any and all additional action as is
      contemplated to be taken by or on behalf of the Company Stockholders by
      the terms of this Agreement; (b) the establishment of this escrow to
      secure the Company Stockholders' indemnification obligations under Article
      VI of the Merger Agreement and to satisfy any post-closing adjustment
      obligations to the Buyer pursuant to Section 1.10 of the Merger Agreement,
      all in the manner set forth herein; and (c) all of the other terms,
      conditions and limitations in this Agreement. Any expenses or costs of the
      Representative hereunder shall be made out of the remaining Escrow Shares
      (if any) that would otherwise be paid to the Company Stockholders under
      Section 4.6 hereof, with each Company Stockholder being deemed to
      participate in such expenses, on a pro rata basis, within three (3)
      Business Days following the Termination Date.

12.   Entire Agreement. Except for the provisions of the Merger Agreement
      referenced herein, this Agreement constitutes the entire agreement between
      the parties with respect to the subject matter hereof and supersedes all
      prior negotiations, agreements and understandings of the parties of any
      nature, whether oral or written, relating thereto.

13.   Amendments. No amendment or modification of the terms of this Agreement
      shall be binding or effective unless expressed in writing and signed by
      each party hereto. This Agreement and all of the provisions hereof shall
      be binding upon and inure to the benefit of the parties hereto and their
      respective successors and permitted assigns.

14.   Warranties. Each party executing this Agreement warrants its authority to
      execute this Agreement.

15.   Further Assurances. If at any time the Escrow Agent shall consider or be
      advised that any further agreements, assurances or other documents are
      reasonably necessary or desirable to carry out the provisions hereof and
      the transactions contemplated hereby, the parties shall execute and
      deliver any and all such agreements or other documents, and do all things
      necessary or appropriate to carry out fully the provisions hereof.

                                      -83-
<PAGE>

16.   Counterparts. This Agreement may be executed in separate counterparts,
      each such counterpart being deemed to be an original instrument, and all
      such counterparts will together constitute the same agreement. All
      signatures of the parties to this Agreement may be transmitted by
      facsimile and such facsimile will, for all purposes, be deemed to be the
      original signature of such party whose signature it reproduces, and will
      be binding upon such party.

17.   Captions. The section captions herein are for convenience of reference
      only, do not constitute part of this Agreement and will not be deemed to
      limit or otherwise affect any of the provisions hereof.

18.   Severability. If any provision of this Agreement or the application
      thereof to any person or circumstance is determined by a court of
      competent jurisdiction to be invalid, void or unenforceable, the remaining
      provisions hereof, or the application of such provision to persons or
      circumstances other than those as to which it has been held invalid or
      unenforceable, shall remain in full force and effect and shall in no way
      be affected, impaired or invalidated thereby.

19.   Dispute Resolution. It is understood and agreed that, should any dispute
      arise with respect to the delivery, ownership, right of possession, and/or
      disposition of the Escrow Shares, or should any claim be made upon the
      Escrow Agent or the Escrow Shares by a third party, the Escrow Agent upon
      receipt of notice of such dispute or claim is authorized and shall be
      entitled (at its sole option and election) to retain in its possession
      without liability to anyone, all or any of said Escrow Shares until such
      dispute shall have been settled either by the mutual written agreement of
      the parties involved or by a final order, decree or judgment of a court in
      the United States of America, the time for perfection of an appeal of such
      order, decree or judgment having expired. The Escrow Agent may, but shall
      be under no duty whatsoever to, institute or defend any legal proceedings
      which relate to the Escrow Shares.

21.   Customer Identification Program. Each of Buyer and the Representative
      acknowledge receipt of the notice set forth on Exhibit C attached hereto
      and made part hereof and that information may be requested to verify their
      identities

      [Remainder of Page Intentionally Left Blank]

                                      -84-
<PAGE>

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed as of the date first above written.

                                        AKAMAI TECHNOLOGIES, INC.

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

                                        REPRESENTATIVE

                                        ---------------------------------------
                                            Name:

                                        U.S. BANK NATIONAL ASSOCIATION

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

                     - Signature Page to Escrow Agreement -

                                      -85-
<PAGE>

                                    EXHIBIT C

                          SHAREHOLDER VOTING AGREEMENT

      THIS SHAREHOLDER VOTING AGREEMENT, dated as of November 17, 2006 (this
"Agreement"), among the stockholders listed on Exhibit A hereto (collectively,
the "Principal Stockholders" and each individually, a "Principal Stockholder"),
Nine Systmes Corporation, a Delaware corporation (the "Company"), and Akamai
Technologies, Inc., a Delaware corporation (the "Buyer"). Capitalized terms used
and not otherwise defined herein shall have the respective meanings assigned to
them in the Merger Agreement referred to below.

      WHEREAS, as of the date hereof, the Principal Stockholders collectively
own of record and beneficially shares of capital stock of the Company, as set
forth on Schedule I hereto (such shares, or any other voting or equity of
securities of the Company hereafter acquired by any Principal Stockholder prior
to the termination of this Agreement, being referred to herein collectively as
the "Shares");

      WHEREAS, concurrently with the execution of this Agreement, Buyer, the
Company and the other parties named therein are entering into an Agreement and
Plan of Merger, dated as of the date hereof (the "Merger Agreement"), pursuant
to which, upon the terms and subject to the conditions thereof, a subsidiary of
Buyer will be merged with and into the Company (the "Merger"), with the Company
as the surviving corporation of the Merger (the "Surviving Corporation"); and

      WHEREAS, as a condition to the willingness of Buyer to enter into the
Merger Agreement, Buyer has required that the Principal Stockholders agree, and,
in order to induce Buyer to enter into the Merger Agreement, the Principal
Stockholders are willing, to enter into this Agreement.

      NOW, THEREFORE, in consideration of the foregoing and the mutual covenants
and agreements contained herein, and intending to be legally bound hereby, the
parties hereby agree, severally and not jointly, as follows:

      VOTING OF SHARES.

            Each Principal Stockholder covenants and agrees that until the
termination of this Agreement in accordance with the terms hereof, at any
meeting of the Company Stockholders, however called, and in any action by
written consent of Company Stockholders, such Principal Stockholder agrees to
(i) to vote all Shares that are beneficially owned by such Principal Stockholder
in favor of the adoption of the Merger Agreement and the approval of the Merger,
(ii) not to vote any Shares in favor of any other acquisition (whether by way of
merger, consolidation, share exchange, stock purchase or asset purchase) of all
or a majority of the outstanding capital stock or assets of the Company. Each
Principal Stockholder further agrees until the termination of this Agreement to
use his, her or its Reasonable Best Efforts to obtain the Requisite Stockholder
Approval.

            Each Principal Stockholder hereby irrevocably grants to, and
appoints, Buyer, and any individual designated in writing by it, and each of
them individually, as its proxy and

                                      -86-
<PAGE>

attorney-in-fact (with full power of substitution), for and in its name, place
and stead, to vote his, her or its Shares in any action by written consent of
Company Stockholders or at any meeting of the Company Stockholders called with
respect to any of the matters specified in, and in accordance and consistent
with, this Section 1. Each Principal Stockholder understands and acknowledges
that Buyer is entering into the Merger Agreement in reliance upon the Principal
Stockholder's execution and delivery of this Agreement. Each Principal
Stockholder hereby affirms that the irrevocable proxy set forth in this Section
1(b) is given in connection with the execution of the Merger Agreement, and that
such irrevocable proxy is given to secure the performance of the duties of such
Principal Stockholder under this Agreement. Except as otherwise provided for
herein, each Principal Stockholder hereby (i) affirms that the irrevocable proxy
is coupled with an interest and may under no circumstances be revoked, (ii)
ratifies and confirms all that the proxies appointed hereunder may lawfully do
or cause to be done by virtue hereof and (iii) affirms that such irrevocable
proxy is executed and intended to be irrevocable in accordance with the
provisions of Section 212(e) of the Delaware General Corporation Law.
Notwithstanding any other provisions of this Agreement, the irrevocable proxy
granted hereunder shall automatically terminate upon the termination of this
Agreement.

      Transfer of Shares. Each Principal Stockholder covenants and agrees that
such Principal Stockholder will not directly or indirectly (i) sell, assign,
transfer (including by merger, testamentary disposition, interspousal
disposition pursuant to a domestic relations proceeding or otherwise by
operation of law), pledge, encumber or otherwise dispose of any of the Shares,
(ii) deposit any of the Shares into a voting trust or enter into a voting
agreement or arrangement with respect to the Shares or grant any proxy or power
of attorney with respect thereto which is inconsistent with this Agreement,
(iii) enter into any contract, option or other arrangement or undertaking with
respect to the direct or indirect sale, assignment, transfer (including by
merger, testamentary disposition, interspousal disposition pursuant to a
domestic relations proceeding or otherwise by operation of law) or other
disposition of any Shares or (iv) otherwise commit any act, except as permitted
by this Agreement or required by order of a court of competent jurisdiction,
that could restrict or otherwise affect his, her or its legal power, authority
and right to vote all of the Shares then owned of record or beneficially by him,
her or it.

      Representations and Warranties of the Principal Stockholders. Each
Principal Stockholder on his, her or its own behalf hereby severally represents
and warrants to Buyer with respect to itself and his, her or its ownership of
the Shares as follows:

            Ownership of Shares. The Principal Stockholder legally and
beneficially owns all of the Shares as set forth on Schedule I hereto and has
good and marketable title to such Shares, free and clear of any claims, liens,
encumbrances and security interests whatsoever. The Principal Stockholder owns
no Common Shares other than the Shares as set forth on Schedule I hereto. The
Principal Stockholder has sole voting power, without restrictions, with respect
to all of the Shares.

            Power, Binding Agreement. The Principal Stockholder has the legal
capacity and all requisite power and authority to enter into and perform all of
its obligations, under this Agreement. This Agreement has been duly and validly
executed and delivered by the Principal Stockholder and constitutes a valid and
binding obligation of the Principal Stockholder, enforceable against the
Principal Stockholder in accordance with its terms.

                                      -87-
<PAGE>

            No Conflicts. The execution and delivery of this Agreement do not,
and the consummation of the transactions contemplated hereby will not, conflict
with or result in any violation of, or default (with or without notice or lapse
of time, or both) under, or give rise to a right of termination, cancellation or
acceleration of any obligation or to loss of a material benefit under, any
provision of any loan or credit agreement, note, bond, mortgage, indenture,
lease, or other agreement, instrument, permit, concession, franchise, license,
judgment, order, decree, statute, law, ordinance, rule or regulation applicable
to the Principal Stockholder, the Shares or any of the Principal Stockholder's
properties or assets. Except as expressly contemplated hereby, the Principal
Stockholder is not a party to, and the Shares are not subject to or bound in any
manner by, any contract or agreement relating to the Shares, including without
limitation, any voting agreement, option agreement, purchase agreement,
stockholders' agreement, partnership agreement or voting trust. No consent,
approval, order or authorization of, or registration, declaration or filing
with, any court, administrative agency or commission or other governmental
authority or instrumentality, domestic, foreign or supranational, is required by
or with respect to the Principal Stockholder in connection with the execution
and delivery of this Agreement or the consummation by the Principal Stockholder
of the transactions contemplated hereby.

      EXCLUSIVITY.

            During the Pre-Closing Period, each of the Principal Stockholders
agrees (and the Principal Stockholders shall require each of their officers,
directors, employees, representatives and agents) not to directly or indirectly,
(i) initiate, solicit, encourage or otherwise facilitate any inquiry, proposal,
offer or discussion with any party (other than the Buyer or its representatives)
concerning any acquisition, equity or debt financing (except as specifically
permitted pursuant to Section 4.4(c) of the Merger Agreement), joint venture,
merger, reorganization, consolidation, recapitalization, business combination,
liquidation, dissolution, share exchange, sale of stock, sale of material assets
or similar business transaction involving the Company, (ii) furnish any
information concerning the business, properties or assets of the Company or the
Company Shares to any party (other than the Buyer or its representatives) or
(iii) engage in negotiations or enter into any agreement with any party (other
than the Buyer or its representatives) concerning any such transaction.

            Each Principal Stockholder shall immediately notify any party with
which discussions or negotiations of the nature described in paragraph (a) above
were pending that the Principal Stockholders are terminating such discussions or
negotiations. If any Principal Stockholder receives any inquiry, proposal or
offer of the nature described in paragraph (a) above, the Principal Stockholder
shall, within one business day after such receipt, notify the Buyer of such
inquiry, proposal or offer, including the identity of the other party and the
terms of such inquiry, proposal or offer.

      Termination. This Agreement shall terminate upon the earlier to occur of
(i) the Effective Time or (ii) any termination of the Merger Agreement in
accordance with the terms thereof; provided that no such termination shall
relieve any party of liability for a breach hereof prior to termination, and
such termination will not affect any rights hereunder which by their terms do
not terminate or expire prior to or at such termination.

                                      -88-
<PAGE>

      Specific Performance. The parties hereto agree that irreparable damage
would occur in the event any provision of this Agreement was not performed in
accordance with the terms hereof and that the parties shall be entitled to
specific performance of the terms hereof, in addition to any other remedy at law
or in equity without posting any bond or other undertaking.

      Fiduciary Duties. Each Principal Stockholder is signing this Agreement
solely in such Principal Stockholder's capacity as an owner of his, her or its
respective Shares, and nothing herein shall prohibit, prevent or preclude such
Principal Stockholder from taking or not taking any action in his or her
capacity as an officer or director of the Company, to the extent permitted by
the Merger Agreement.

      Consent and Waiver. Each Principal Stockholder hereby gives any consents
or waivers that are reasonably required for the consummation of the Merger under
the terms of any agreement to which such Principal Stockholder is a party or
pursuant to any rights such Principal Stockholder may have in its capacity as a
Company Stockholder.

      MISCELLANEOUS.

            Entire Agreement. This Agreement constitutes the entire agreement
between the parties hereto with respect to the subject matter hereof and
supersedes all prior agreements and understandings, both written and oral,
between the parties with respect thereto. This Agreement may not be amended,
modified or rescinded except by an instrument in writing signed by each of the
parties hereto.

            Severability. If any term or other provision of this Agreement is
invalid, illegal or incapable of being enforced by any rule of law, or public
policy, all other conditions and provisions of this Agreement shall nevertheless
remain in full force and effect. Upon such determination that any term or other
provision is invalid, illegal or incapable of being enforced, the parties hereto
shall negotiate in good faith to modify this Agreement so as to effect the
original intent of the parties as closely as possible to the fullest extent
permitted by applicable law in a mutually acceptable manner in order that the
terms of this Agreement remain as originally contemplated to the fullest extent
possible.

            Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of Delaware without regard to the
principles of conflicts of law thereof.

            Counterparts. This Agreement may be executed in counterparts, each
of which shall be deemed an original and all of which together shall constitute
one and the same instrument. This Agreement may be executed by facsimile
signature.

            Notices. All notices, requests, demands, claims, and other
communications hereunder shall be in writing. Any notice, request, demand, claim
or other communication hereunder shall be deemed duly delivered two business
days after it is sent by registered or certified mail, return receipt requested,
postage prepaid, or one business day after it is sent for next business day
delivery via a reputable nationwide overnight courier service, in each case to
the intended recipient as set forth below:

                                      -89-
<PAGE>

To a Principal Stockholder:

<TABLE>

<S>                                                          <C>
To the address set forth on the respective
signature page of this Agreement.

To the Buyer or the Transitory Subsidiary:                   with a copy to:

Akamai Technologies, Inc.                                    Wilmer Cutler Pickering Hale and Dorr LLP
8 Cambridge Center                                           60 State Street
Cambridge, MA 02142                                          Boston, MA  02109
Attn:  General Counsel                                       Attn: Susan W. Murley
Telecopy:  (617) 444-3695                                    Telecopy:  (617) 526-5000
Telephone:   (617) 444-3000                                  Telephone:  (617) 526-6000

To the Company:                                              with a copy to:

Nine Systems Corporation                                     Satterlee Stephens Burke & Burke LLP
10509 Vista Sorrento Parkway                                 230 Park Ave.
Suite 200                                                    New York, NY 10169
San Diego, CA 92121                                          Attn: William M. Jackson, Esq.
Attn: Troy Snyder                                            Telecopy:   (212) 818-9606
Telecopy: (858) 453-0393                                     Telephone:   (212) 818-9200
Telephone: (858) 332-3903
</TABLE>

            No Third Party Beneficiaries. This Agreement is not intended, and
shall not be deemed, to confer any rights or remedies upon any person other than
the parties hereto and their respective successors and permitted assigns, to
create any agreement of employment with any person or to otherwise create any
third-party beneficiary hereto.

            Assignment. Neither this Agreement nor any of the rights, interests
or obligations under this Agreement may be assigned or delegated, in whole or in
part, by operation of law or otherwise by any of the parties hereto without the
prior written consent of the other parties, and any such assignment without such
prior written consent shall be null and void, except that the Buyer may assign
this Agreement to any direct or indirect wholly owned subsidiary of the Buyer
without the consent of the Company or the Principal Stockholder, provided that
the Buyer shall remain liable for all of its obligations under this Agreement.
Subject to the preceding sentence, this Agreement shall be binding upon, inure
to the benefit of, and be enforceable by, the parties hereto and their
respective successors and permitted assigns.

            Interpretation. When reference is made in this Agreement to a
Section, such reference shall be to a Section of this Agreement, unless
otherwise indicated. The headings contained in this Agreement are for
convenience of reference only and shall not affect in any way the meaning or
interpretation of this Agreement. The language used in this Agreement shall be
deemed to be the language chosen by the parties hereto to express their mutual
intent, and no rule of strict construction shall be applied against any party.
Whenever the context may require, any pronouns used in this Agreement shall
include the corresponding masculine, feminine or

                                      -90-
<PAGE>

neuter forms, and the singular form of nouns and pronouns shall include the
plural, and vice versa. Any reference to any federal, state, local or foreign
statute or law shall be deemed also to refer to all rules and regulations
promulgated thereunder, unless the context requires otherwise. Whenever the
words "include," "includes" or "including" are used in this Agreement, they
shall be deemed to be followed by the words "without limitation." No summary of
this Agreement prepared by the parties shall affect in any way the meaning or
interpretation of this Agreement.

            Submission to Jurisdiction. Each of the parties to this Agreement
(i) consents to submit itself to the personal jurisdiction of any state or
federal court sitting in Delaware in any action or proceeding arising out of or
relating to this Agreement or any of the transactions contemplated by this
Agreement, (ii) agrees that all claims in respect of such action or proceeding
may be heard and determined in any such court, (iii) agrees that it will not
attempt to deny or defeat such personal jurisdiction by motion or other request
for leave from any such court and (iv) agrees not to bring any action or
proceeding arising out of or relating to this Agreement or any of the
transactions contemplated by this Agreement in any other court. Each of the
parties hereto waives any defense of inconvenient forum to the maintenance of
any action or proceeding so brought and waives any bond, surety or other
security that might be required of any other party with respect thereto. Any
party hereto may make service on another party by sending or delivering a copy
of the process to the party to be served at the address and in the manner
provided for the giving of notices in Section 10(e). Nothing in this Section,
however, shall affect the right of any party to serve legal process in any other
manner permitted by law.

            WAIVER OF JURY TRIAL. EACH OF THE BUYER, THE COMPANY AND EACH
PRINCIPAL STOCKHOLDER HEREBY IRREVOCABLY WAIVES ALL RIGHTS TO TRIAL BY JURY IN
ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR
OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY OR THE ACTIONS OF THE BUYER, THE COMPANY OR EACH PRINCIPAL
STOCKHOLDER IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE AND ENFORCEMENT OF
THIS AGREEMENT.

                           [Signature Page to follow]

                                      -91-
<PAGE>

      IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement
to be signed individually or by its respective duly authorized officer as of the
date first written above.

                                       NINE SYSTEMS CORPORATION

                                       By:
                                          --------------------------------------

                                       Name:
                                            ------------------------------------

                                       Title:
                                             -----------------------------------

                                       AKAMAI TECHNOLOGIES, INC.:

                                       By:
                                          --------------------------------------

                                       Name:
                                            ------------------------------------

                                       Title:
                                             -----------------------------------

                                      -92-
<PAGE>

                                       JAVVA PARTNERS LLC

                                       By:
                                          -----------------------------------
                                          Name:  Howard Katz
                                          Title: Managing Member

                                       WREN HOLDINGS, L.L.C.

                                       By:
                                          -----------------------------------
                                          Name:  Dort A. Cameron III
                                          Title: Managing Member

                                       CATALYST INVESTORS, L.P.

                                       By:  Catalyst Investors Partners, L.P.,
                                            Its General Partner

                                       By:  Catalyst Investors Partners, L.L.C.,
                                            Its General Partner

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

                                       JANNEY MONTGOMERY & SCOTT, INC.,
                                       AS CUSTODIAN UNDER IRA FOR THE
                                       BENEFIT OF ANDREW T. DWYER

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

                                       JANNEY MONTGOMERY & SCOTT, INC.,
                                       AS CUSTODIAN UNDER SEP FOR THE
                                       BENEFIT OF ANDREW T. DWYER

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

                                      -93-
<PAGE>

                                    EXHIBIT A

                             PRINCIPAL STOCKHOLDERS

JAVVA PARTNERS LLC

WREN HOLDINGS, L.L.C.

CATALYST INVESTORS, L.P.

JANNEY MONTGOMERY & SCOTT, INC., AS CUSTODIAN UNDER IRA FOR THE BENEFIT OF
ANDREW T. DWYER

JANNEY MONTGOMERY & SCOTT, INC., AS CUSTODIAN UNDER SEP FOR THE BENEFIT OF
ANDREW T. DWYER

                                      -94-
<PAGE>

                                    EXHIBIT D

Nine Systems Corporation
10509 Vista Sorrento Parkway
Suite 200
San Diego, CA 92121

Re: Agreement and Plan of Merger

Ladies and Gentlemen:

      This opinion is being furnished pursuant to Section 5.2(g) of the
Agreement and Plan of Merger dated as of November 17, 2006 (the "Agreement")
among Akamai Technologies, Inc., a Delaware corporation (the "Buyer"), Nantucket
Acquisition Corp., a Delaware corporation and a wholly-owned subsidiary of the
Buyer (the "Transitory Subsidiary"), Nine Systems Corporation, a Delaware
corporation, Wren Holdings LLC, a Delaware limited liability company, Javva
Partners LLC, a Delaware limited liability company and Catalyst Investors, L.P.,
a Delaware limited partnership, Cameron Family Partnership, L.P., Janney
Montgomery & Scott, Inc., as custodian under SEP fbo Andrew T. Dwyer and Janney
Montgomery & Scott, Inc., as custodian under IRA fbo Andrew T. Dwyer.
Capitalized terms used herein and not otherwise defined herein shall have the
respective meanings ascribed to them in the Agreement.

      We have acted as counsel to the Buyer and the Transitory Subsidiary in
connection with the preparation, execution and delivery of the Agreement. As
such counsel, we have examined and are familiar with and have relied upon the
following documents:

      1.    the Agreement and the Escrow Agreement;

      2.    the Certificate of Incorporation and the By-laws of the Buyer and of
            the Transitory Subsidiary, each as amended or restated to date;

      3.    a certificate, dated as of ____________,200_, of the Secretary of
            State of the State of Delaware, certifying as to the continued legal
            existence and corporate good standing of the Buyer in Delaware (the
            "Buyer Domestic Certificate");

      4.    a certificate, dated as of ________ __, 200_, of the Secretary of
            State of the State of Delaware, certifying as to the continued legal
            existence and corporate good standing of the Transitory Subsidiary
            in Delaware (the "Transitory Subsidiary Domestic Certificate");

      5.    an Officer's Certificate from the Buyer, dated as of the date
            hereof, attesting to the Buyer's Certificate of Incorporation and
            By-laws, certain resolutions adopted by the Board of Directors of
            the Buyer, the incumbency of certain officers of the Buyer and
            certain other matters; and

                                      -95-
<PAGE>

      6.    an Officer's Certificate from the Transitory Subsidiary, dated as of
            the date hereof, attesting to the Transitory Subsidiary's
            Certificate of Incorporation and By-laws, certain resolutions
            adopted by the Board of Directors and stockholder of the Transitory
            Subsidiary, the incumbency of certain officers of the Transitory
            Subsidiary and certain other matters.

      In our examination of the documents described above, we have assumed the
genuineness of all signatures, the legal capacity of all individual signatories,
the completeness of all corporate and stock records provided to us, the
authenticity of all documents submitted to us as originals, the conformity to
original documents of all documents submitted to us as copies, and the
authenticity of the originals of such latter documents.

      In rendering this opinion, we have relied, as to all questions of fact
material to this opinion, upon certificates of public officials and officers of
the Buyer and the Transitory Subsidiary and, with your permission, upon the
representations and warranties made by the Company, the Buyer and the Transitory
Subsidiary in the Agreement. We have not attempted to verify independently such
facts. We have not conducted a search of any electronic databases or the dockets
of any court, administrative or regulatory body, agency or other filing office
in any jurisdiction.

      For purposes of this opinion, we have assumed that the Agreement and the
Escrow Agreement have been duly authorized, executed and delivered by all
parties thereto other than the Buyer and the Transitory Subsidiary, and that
such other parties have all requisite power and authority to effect the
transactions contemplated by the Agreement and the Escrow Agreement. We have
also assumed that the Agreement and the Escrow Agreement are the valid and
binding obligations of all parties thereto other than the Buyer and the
Transitory Subsidiary and are enforceable against such other parties in
accordance with their respective terms. We do not render any opinion as to the
application of any federal or state law or regulation to the power, authority or
competence of such other parties.

      Our opinions set forth below are qualified to the extent that they may be
subject to or affected by (i) applicable bankruptcy, insolvency, reorganization,
moratorium, fraudulent conveyance or similar laws relating to or affecting the
rights of creditors generally, (ii) statutory or decisional law concerning
recourse by creditors to security in the absence of notice or hearing, (iii)
duties and standards imposed on creditors and parties to contracts, including,
without limitation, requirements of good faith, reasonableness and fair dealing,
and (iv) general equitable principles. We express no opinion as to the
availability of any equitable or specific remedy upon any breach of any of the
agreements as to which we are opining herein, or any of the agreements,
documents or obligations referred to therein, or to the successful assertion of
any equitable defenses, inasmuch as the availability of such remedies or the
success of any such defenses may be subject to the discretion of a court.

      We also express no opinion herein as to any provision of any agreement (a)
which may be deemed to or construed to waive any right of the Buyer or the
Transitory Subsidiary, (b) to the effect that rights and remedies are not
exclusive, that every right or remedy is cumulative and may be exercised in
addition to or with any other right or remedy and does not preclude recourse to
one or more other rights or remedies, (c) relating to the effect of invalidity
or unenforceability

                                      -96-
<PAGE>

of any provision of the Agreement on the validity or enforceability of any other
provision thereof, (d) requiring the payment of penalties, consequential damages
or liquidated damages, (e) which is in violation of public policy, including,
without limitation, any provision relating to non-competition and
non-solicitation or relating to indemnification and contribution with respect to
securities law matters, (f) purporting to indemnify any person against his, her
or its own negligence or intentional misconduct, (g) which provides that the
terms of the Agreement may not be waived or modified except in writing or (h)
relating to choice of law or consent to jurisdiction. We are expressing no
opinion herein as to the consequences of the Merger under applicable state,
local or federal income tax laws and regulations. We are expressing no opinion
herein with respect to compliance by the Buyer with state or federal antitrust
or unfair competition laws, state or federal securities or "blue sky" laws,
state or federal securities antifraud laws.

      Our opinions expressed in paragraph 1 below, insofar as they relate to the
valid existence, due qualification and good standing of the Buyer and the
Transitory Subsidiary, are based solely on the Buyer Domestic Certificate and
the Transitory Subsidiary Domestic Certificate and are limited accordingly, and,
as to such matters, our opinions are rendered as of the date of such
certificates. We express no opinion as to the tax good standing of the Buyer or
the Transitory Subsidiary in any jurisdiction.

      We are opining herein solely as to the state laws of the Commonwealth of
Massachusetts, the Delaware General Corporation Law statute and the federal laws
of the United States of America. To the extent that any other laws govern any of
the matters as to which we are opining below, we have assumed, with your
permission and without independent investigation, that such laws are identical
to the state laws of the Commonwealth of Massachusetts, and we express no
opinion as to whether such assumption is reasonable or correct. We note that the
Agreement is governed by Delaware law.

      For purposes of our opinions rendered below, we have assumed that the
facts and law governing the future performance by the Buyer and the Transitory
Subsidiary of their obligations under the Agreement will be identical to the
facts and law governing their performance on the date of this opinion.

      Based on and subject to the foregoing, we are of the opinion that:

      1.    Each of the Buyer and the Transitory Subsidiary is a corporation
            validly existing and in good standing under the laws of the State of
            Delaware.

      2.    Each of the Buyer and the Transitory Subsidiary has all requisite
            corporate power and authority to conduct the business in which, to
            our knowledge, it is currently engaged, to execute and deliver the
            Agreement (and, in the case of the Buyer, the Escrow Agreement) and
            to consummate the transactions contemplated thereby.

      3.    All of the Merger Shares are duly authorized and, when issued in
            accordance with the Agreement, will be validly issued, fully paid
            and non-assessable.

      4.    The execution and delivery by the Buyer and the Transitory
            Subsidiary of the Agreement (and, in the case of the Buyer, the
            Escrow Agreement) and the

                                      -97-
<PAGE>

            consummation by the Buyer and the Transitory Subsidiary of the
            transactions contemplated thereby have been duly and validly
            authorized by all necessary corporate and stockholder action on the
            part of the Buyer and the Transitory Subsidiary. The Agreement (and,
            in the case of the Buyer, the Escrow Agreement) have been duly and
            validly executed and delivered by the Buyer and the Transitory
            Subsidiary and constitute valid and binding obligations of the Buyer
            and the Transitory Subsidiary, enforceable against the Buyer and the
            Transitory Subsidiary in accordance with their respective terms.

      5.    Neither the execution and delivery by the Buyer or the Transitory
            Subsidiary of the Agreement or (in the case of the Buyer) the Escrow
            Agreement, nor the consummation by the Buyer or the Transitory
            Subsidiary of the transactions contemplated thereby: (a) conflicts
            with or violates any provision of the Certificate of Incorporation
            or By-laws of the Buyer or the Transitory Subsidiary, each as
            amended or restated to date; (b) requires on the part of the Buyer
            or the Transitory Subsidiary any notice to, or filing with, or
            permit, authorization, consent or approval of, any U.S. federal or
            Massachusetts state Governmental Entity which has not been
            delivered, filed or obtained, except for such filings required to be
            made under applicable federal and state securities laws, or (c)
            violates any U.S. federal or Massachusetts state statute, rule or
            regulation applicable to the Buyer or the Transitory Subsidiary or
            any order, writ, injunction or decree specifically naming the Buyer
            or the Transitory Subsidiary of which we are aware.

      6.    Upon the filing by the Surviving Corporation of the Certificate of
            Merger with the Secretary of State of the State of Delaware, the
            Merger will be effective under the Delaware General Corporation Law
            statute.

      This opinion is provided to the Company as a legal opinion only and not as
a guaranty or warranty of the matters discussed herein. This opinion is based
upon currently existing statutes, rules, regulations and judicial decisions and
is rendered as of the date hereof, and we disclaim any obligation to advise you
of any change in any of the foregoing sources of law or subsequent developments
in law or changes in facts or circumstances which might affect any matters or
opinions set forth herein.

      This opinion is rendered only to the Company and is solely for the benefit
of the Company in connection with the transactions contemplated by the
Agreement. This opinion may not be relied upon by the Company for any other
purpose, nor may this opinion be provided to, quoted to or relied upon by any
other person or entity for any purpose, without our prior written consent.

                                      -98-
<PAGE>

Very truly yours,

WILMER CUTLER PICKERING
HALE AND DORR LLP

By:
   -----------------------------------------------
   Susan W. Murley, Partner

                                      -99-
<PAGE>

                                    EXHIBIT E

                                                ____________, 2006

Akamai Technologies, Inc.
8 Cambridge Center
Cambridge, MA 02142

Ladies and Gentlemen:

      We have acted as counsel to Nine Systems Corporation, a Delaware
corporation (the "Company"), and the Principal Stockholders (as defined below)
in connection with the merger of Nantucket Acquisition Corp., a Delaware
corporation (the "Transitory Subsidiary") and a wholly-owned subsidiary of
Akamai Technologies, Inc., a Delaware corporation (the "Buyer"), with and into
the Company pursuant to that certain Agreement and Plan of Merger dated as
of________, 2006 (the "Merger Agreement") by and among the Buyer, the Transitory
Subsidiary, the Company, and Wren Holdings LLC, a Delaware limited liability
company, Javva Partners LLC, a Delaware limited liability company, and Catalyst
Investors, L.P., a [Delaware limited partnership](each, a "Principal
Stockholder" and together, the "Principal Stockholders"). This opinion is
furnished to you pursuant to Section 5.1(k) of the Merger Agreement. Unless
otherwise defined herein, the capitalized terms used herein have the meanings
given to them in the Merger Agreement.

      In rendering the opinions herein, we have examined such questions of law
as we have deemed advisable under the circumstances. As to questions of fact, we
have relied solely upon our examination of the following documents
(collectively, the "Examined Documents"):

      (i)   the Merger Agreement;

      (ii)  the Escrow Agreement;

      (iii) the Shareholder Voting Agreement;

      (iv)  the Investment Representation Letter;

      (v)   the Certificate of Incorporation of the Company, as amended to date
            (the "Certificate of Incorporation"), the Bylaws of the Company, as
            amended to date (the "By-Laws"), and certain resolutions of the
            Board of Directors and stockholders of the Company;

      (vi)  the corporate and stock records of the Company as furnished to us by
            the Company (the "Stock Records");

      (vii) the Officer's Certificate signed by the President of the Company
            dated ______, 2006, a copy of which is attached hereto (the
            "Officer's Certificate");

                                     -100-
<PAGE>

      (viii) Certificate from the Secretary of State of the State of Delaware,
            dated ________, 2006, as to the good standing of the Company in the
            State of Delaware ("Certificate of Good Standing");

      (ix)  Certificates from the Secretary of State of the States of
            ___________, ____________ and ___________, each dated ________,
            2006, as to the foreign qualification of the Company in ___________,
            ____________ and ___________ ("Foreign Qualification Certificates");
            and

      (x)   other certificates furnished to us by officers of the Company and
            public officials; and such other documents and certificates deemed
            necessary by us in order to deliver the within opinions.

      We have not examined any document other than the Examined Documents, or
made any other independent investigation, as it relates to any questions of fact
in this opinion. In our examination of the Examined Documents, we have assumed
the accuracy and completeness, as to factual matters, of (a) the information
obtained from public officials included in the Examined Documents, (b) the
representations and warranties of the Company in the Merger Agreement, and (c)
the representations and warranties made by officers and employees of the Company
to us, including without limitation, those set forth in the Officer's
Certificate. We have also assumed, as to factual matters, that all the
representations and warranties made by the Buyer, the Transitory Subsidiary, the
Company, the Representative and the Company Stockholders in, or pursuant to, the
documents included in items (i) through (iv) above (the "Transaction Documents")
to which the Buyer, the Transitory Subsidiary, the Company, the Representative,
any Company Stockholder is a party, are true and complete in all material
respects. We have made no attempt to verify the accuracy of any of such
information, representations or warranties or to determine the existence or
non-existence of any other factual matters other than those described above.

      In our examination of the Examined Documents, we have relied upon and
assumed (a) the genuineness of all signatures on original documents, (b) the
authenticity and completeness of all documents submitted to us as originals, (c)
the conformity to originals of all documents submitted to us as photostatic,
facsimile or portable document format ("pdf") copies, (d) the legal competence
or capacity of all persons or entities executing the same (other than the
Company with respect to the Company's competence or capacity to enter into and
perform the Transaction Documents), and (f) the due authorization, execution and
delivery of all of the Transaction Documents by all parties thereto other than
the Company and the Principal Stockholders.

      For the purposes of this opinion, we have assumed that: (a) each party to
each of the Transaction Documents, other than the Company and the Principal
Stockholders, has all requisite power and authority, and has taken any and all
corporate or other action necessary, for the due authorization by such party to
execute and deliver the Transaction Documents and to perform their respective
obligations thereunder; and (b) the Transaction Documents are duly enforceable
in accordance with their respective terms against, and constitute the valid and
binding obligations of, each party thereto other than the Company and the
Principal Stockholders.

      As used in this opinion, the phrases "our actual knowledge," "to our
knowledge," "we are not aware," "known to us" or words of similar import refer
only to the actual knowledge of the

                                     -101-
<PAGE>

attorneys currently in this firm who have rendered legal services to the Company
or the Principal Stockholders or otherwise rendered attention to the
transactions contemplated by the Merger Agreement. No inference as to our
knowledge of any matters bearing on the accuracy of any such statement should be
drawn from the fact of our representation of the Company or any of the Principal
Stockholders.

      In rendering the opinion expressed in paragraph 1 below, regarding the
good standing and valid existence of the Company, we have relied solely on the
certification of the Company's good standing set forth in the Certificate of
Good Standing. In rendering the opinion expressed in paragraph 1 below,
regarding the due qualification of the Company, we have relied solely on the
certification of the Company's due qualification set forth in the Foreign
Qualification Certificates.

      In rendering the opinions set forth in paragraph 4 below relating to the
number of Company Shares issued and outstanding [?] as of the date hereof, we
have relied on (a) the Certificate of Incorporation of the Company, as amended,
(b) the Bylaws of the Company, as amended, (c) the minutes of meetings and
written consents of the incorporator(s), Board of Directors and stockholders of
the Company furnished to us, and (d) the Stock Records.

      As to the enforceability of the Merger Agreement and to the lack of
conflicts with the contracts listed in Section 2.15(a) of the Disclosure
Schedule as described in paragraph 6(c) below or to the violation of any order,
writ, injunction, decree, statute, rule or regulation as set forth in paragraph
6(d) below, this opinion is qualified by, and we render no opinion with respect
to, the effect of the following:

      (a) bankruptcy, insolvency, reorganization, moratorium and other similar
laws relating to or affecting the relief of debtors or the rights and remedies
of creditors generally, including without limitation the effect of statutory or
common law regarding fraudulent conveyances, preferential transfers and
equitable subordination;

      (b) general principles of equity, including but not limited to judicial
decisions holding that certain provisions are unenforceable when their
enforcement would violate the implied covenant of good faith and fair dealing,
or would be commercially unreasonable or involve undue delay;

      (c) any provision of any Transaction Document purporting to (i) exclude
conflict of law principles under any law or (ii) select certain courts as the
venue, or establish a particular jurisdiction as the forum, for the adjudication
of any controversy;

      (d) the tax or accounting consequences of the Merger and of any
transaction contemplated in connection therewith under applicable tax laws and
regulations and under applicable accounting rules, regulations, releases,
statements, interpretations or technical bulletins;

      ' (e) applicable antifraud statutes, rules or regulations of United States
federal or applicable state laws concerning the issuance or sale of securities,
including, without limitation, the accuracy and completeness of the information
provided by the Company to the Company Stockholders in connection with the offer
and sale of the Merger Shares;

                                     -102-
<PAGE>

      (f) any provision of any Agreement purporting to waive rights to trial by
jury, service of process or objections to the laying of venue or forum in
connection with any litigation arising out of or pertaining to any Transaction
Document;

      (g) limitations under the federal securities laws or public policy
limitations on the right to indemnification or on the enforceability of the
indemnification provisions of Article VIII of the Merger Agreement; and

      For the purposes of this opinion, we have assumed that the Board of
Directors of the Company has complied with its fiduciary duties in connection
with the transactions contemplated by the Merger Agreement.

      With respect to the statements made in paragraph 7 below, we advise you
that have not conducted the search of any docket of any court, tribunal, agency
or similar authority or any other record of any governmental agency or third
party.

      We are admitted to practice law in the State of New York, and we express
no opinion herein with respect to the application or effect of the laws of any
jurisdiction other than the existing laws of the State of New York, the existing
Delaware General Corporation Law (as set forth in standard statutory
compilations and without reference to case law or secondary sources) and the
existing federal laws of the United States of America. With respect to the
Merger Agreement, we express no opinion as to whether the laws of any
jurisdiction other than those identified above are applicable to the subject
matter thereof, regardless of any choice of law provision that names another
jurisdiction's law as the governing law. Our opinions assume, with your
permission and without expression of any opinion thereon, that the internal laws
of the State of New York as applied to contracts made between New York residents
present in New York when such a contract was entered into (without regard to
laws regarding choice of law or conflict of laws) exclusively apply to and
govern the Merger Agreement, regardless of the respective choice of law
provisions thereof. We disclaim any opinion as to any statute, rule, regulation,
ordinance, order or other promulgation of any regional or local governmental
body other than the State of New York.

      To the extent that any of the Material Contracts (as defined in paragraph
6 below) are governed by the laws of any jurisdiction other than the State of
New York, the United States federal law or the Delaware General Corporation Law,
we have assumed, with your permission and without independent investigation,
that such laws are identical to the state laws of the State of New York, and we
express no opinion as to whether such assumption is reasonable or correct.

      Based upon the foregoing, and subject to the assumptions, qualifications,
limitations and exceptions contained or referred to herein, it is our opinion
that:

      1. The Company is a corporation duly organized, validly existing and in
good standing under the laws of the State of Delaware. The Company is duly
qualified to transact business and in good standing in each of the states of
_________ and ______.

      2. The Company has the requisite corporate power and corporate authority
to conduct the business in which, to our knowledge, it is currently engaged, to
execute and deliver the Agreement and to perform its obligations thereunder.

                                     -103-
<PAGE>

      3. Each of the Principal Stockholders has the requisite power and
authority to execute and deliver the Agreement and to perform its obligations
thereunder.

      4. The authorized capital stock of the Company as reflected in the Stock
Records consists of (i) ________ Common Shares, of which, as of the date hereof,
_______ shares were issued and outstanding and _________________ shares were
held in the treasury of the Company, and (ii) ______ Preferred Shares, of which
(A) ______ shares have been designated as Series A Cumulative Convertible
Preferred Stock ("Series A Preferred Stock"), of which, as of the date hereof,
______ shares were issued and outstanding, (B) ______ shares have been
designated as Series B-1 Cumulative Convertible Preferred Stock("Series B-1
Preferred Stock"), of which, as of the date hereof, _____ shares were issued and
outstanding, and (C) ______ shares have been designated as Series B-2 Cumulative
Convertible Preferred Stock("Series B-2 Preferred Stock"), of which, as of the
date of this Agreement, _____ shares were issued and outstanding. All of the
issued and outstanding shares of capital stock of the Company as reflected in
the Stock Records are duly authorized, validly issued, fully paid,
nonassessable, are held of record by the Company Stockholders, as set forth in
Section 2.2(b) of the Disclosure Schedule, and are free of all preemptive rights
contained in the Company's Certificate of Incorporation or By-Laws or otherwise
imposed by law or any of the Agreements listed in the Disclosure Schedule.
Except as set forth in Section 2.2(c) or 2.2(d) of the Disclosure Schedule, to
our knowledge, there are no outstanding or authorized options, warrants, rights,
contracts, calls, puts, rights to subscribe, conversion rights or other
agreements or commitments to which the Company is a party or which are binding
upon the Company providing for the issuance or redemption of any of its capital
stock. All of the issued and outstanding shares of Series A Preferred Stock and
Series B-1 Preferred Stock were issued in compliance with the registration
requirements (or valid exemptions therefrom) under the Securities Act of 1933.

      5. The execution and delivery by the Company and the Principal
Stockholders of the Agreement and the consummation by the Company and each of
the Principal Stockholders of the transactions contemplated thereby have been
duly and validly authorized by all necessary corporate, stockholder and other
action on the part of the Company and each of the Principal Stockholders. The
Agreement has been duly and validly executed and delivered by the Company and
each of the Principal Stockholders and constitutes a valid and binding
obligation of the Company and each of the Principal Stockholders, enforceable
against the Company and each of the Principal Stockholders in accordance with
its terms.

      6. Neither the execution and delivery by the Company and the Principal
Stockholders of the Agreement, nor the consummation by the Company and each of
the Principal Stockholders of the transactions contemplated thereby: (a)
conflicts with or violates any provision of the Certificate of Incorporation or
By-laws of the Company, each as amended or restated to date; (b) requires on the
part of the Company or the Principal Stockholders any notice to, or filing with,
or permit, authorization, consent or approval of, any United States federal or
New York state Governmental Entity which has not been delivered, filed or
obtained, (c) conflicts with, results in a breach of, constitutes (with or
without due notice or lapse of time or both) a default under, results in the
acceleration of its obligations under, creates in any party the right to
accelerate, terminate, modify or cancel or requires any notice, consent or
waiver (which has not been obtained, made or waived) under, any contract, lease,
sublease, license, sublicense, franchise, permit, indenture or other agreement
or instrument to which the Company is a party or

                                     -104-
<PAGE>

by which the Company is bound or to which any of its assets is subject and which
is listed in Section 2.15(a) of the Disclosure Schedule (the "Material
Contracts"), or (d) violates any statute, rule or regulation applicable to the
Company or any of its properties or assets, or to the Principal Stockholders, or
any order, writ, injunction or decree known to us specifically naming the
Company, or any of its properties or assets, or any of the Principal
Stockholders.

      7. To our knowledge, except as set forth in Section 2.19 of the Disclosure
Schedule, there is no Legal Proceeding which is pending or has been threatened
in writing against the Company.

      8. All authorizations, consents and approvals of all U.S. federal and
Delaware and California state governmental agencies and authorities required to
be obtained by the Company and the Principal Stockholders to permit the
consummation of the transactions contemplated by the Agreement have been
obtained.

      9. Upon the filing by the Surviving Corporation of the Certificate of
Merger with the Secretary of State of the State of Delaware, the Merger will be
effective under the Delaware General Corporation Law statute.

      This opinion shall not be construed as a guarantee or warranty that a
court considering the matters discussed herein would not rule in a manner
contrary to the opinions expressed above. No opinion is expressed as to the
effect of any future acts or omissions of the parties or changes in existing
law. We undertake no responsibility and disclaim any obligation to advise you or
any other person of any change after the date hereof in the law or the facts
presently in effect.

      This opinion has been prepared solely for your use in connection with the
closing of the Merger, and may not be relied upon, referred to, or filed with or
furnished to any Governmental Entity or other person, without our prior written
consent.

                               Very truly yours,

                                     -105-PRIMUS
		GUARANTY, LTD.,

	 

	 Issuer

	 

	 and

	 

	 DEUTSCHE
		BANK TRUST COMPANY AMERICAS, 

	 

	 Trustee
		
		______________________

		

	  

	 INDENTURE

	 

	 

	 Dated as
		of December 27, 2006

	 ______________________

	  

	 Senior
		Securities

	  

	 
		

		

	 
		 
	 

	 

	 

	 Primus
		Guaranty, Ltd.

	 Certain
		Sections of this Indenture relating to

	 Sections
		3.10 through 3.18, inclusive, of the 

	 Trust
		Indenture Act of 1939:

	  

	 
			 
				Trust
				  Indenture

				Act
				  Section
 	 	 
				Indenture
				  Section
 
	
				§
				  310
 	
				(a)(1)

					 	
				6.10

				
	 	
				(a)(2)

					 	
				6.10

				
	 	
				(a)(3)

					 	
				Not
				  Applicable
 
	 	
				(a)(4)

					 	
				Not
				  Applicable
 
	 	
				(a)(5)

					 	
				6.10

				
	 	
				(b)

					 	
				6.08

				
	 	 	 	
				6.10

				
	 	
				(c)

					 	
				Not
				  Applicable
 
	
				§
				  311
 	
				(a)

					 	
				6.11

				
	 	
				(b)

					 	
				6.11

				
	 	
				(c)

					 	
				Not
				  Applicable
 
	
				§
				  312
 	
				(a)

					 	
				7.01

				
	 	 	 	
				7.02

				
	 	
				(b)

					 	
				7.02

				
	 	
				(c)

					 	
				7.02

				
	
				§
				  313
 	
				(a)

					 	
				6.06

				
	 	 	 	
				7.03

				
	 	
				(b)

					 	
				6.06

				
	 	 	 	
				7.03

				
	 	
				(c)

					 	
				6.06

				
	 	 	 	
				7.03

				
	 	
				(d)

					 	
				7.03

				
	
				§
				  314
 	
				(a)

					 	
				7.04

				
	 	
				(a)(4)

					 	
				1.01

				
	 	 	 	
				10.06

				
	 	
				(b)

					 	
				Not
				  Applicable
 
	 	
				(c)(1)

					 	
				10.2

				
	 	
				(c)(2)

					 	
				10.2

				
	 	
				(c)(3)

					 	
				Not
				  Applicable
 
	 	
				(d)

					 	
				Not
				  Applicable
 
	 	
				(e)

					 	
				10.2

				
	
				§
				  315
 	
				(a)

					 	
				6.01

				
	 	
				(b)

					 	
				6.05

				
	 	
				(c)

					 	
				6.01

				
	 	
				(d)

					 	
				6.01

				
	 	
				(e)

					 	
				5.14

				
	
				§
				  316
 	
				(a)

					 	
				10.1

				
	 	
				(a)(1)(A)

					 	
				5.02

				
	 	 	 	
				5.12

				
	 	
				(a)(1)(B)

					 	
				5.13

				
	 	
				(a)(2)

					 	
				Not
				  Applicable
 
	 	
				(b)

					 	
				5.08

				
	 	
				(c)

					 	
				10.4

				
	
				§
				  317
 	
				(a)(1)

					 	
				5.03

				
	 	
				(a)(2)

					 	
				5.04

				
	 	
				(b)

					 	
				10.03

				
	
				§
				  318
 	
				(a)

					 	
				1.07

				

 

	 

		
		  

		  
 

	 NOTE:  This
		reconciliation and tie shall not, for any purpose, be deemed to be a part of
		the Indenture.

	 
		 
	 

	 

	 

	 TABLE
		OF CONTENTS

	  

	 
		
		  	 	 	 	
				   Page

				  
	 ARTICLE I	
				  DEFINITIONS AND OTHER PROVISIONS OF GENERAL
					 APPLICATION
 	
				  1

				  
	 	
				  Section
					 1.01
 	
				  Definitions

				  	
				  1

				  
	 	
				  Section
					 1.02
 	
				  Compliance
					 Certificates and Opinions
 	
				  8

				  
	 	
				  Section
					 1.03
 	
				  Form of
					 Documents Delivered to Trustee
 	
				  9

				  
	 	
				  Section
					 1.04
 	
				  Acts of
					 Holders; Record Dates
 	
				  10

				  
	 	
				  Section
					 1.05
 	
				  Notices,
					 Etc., to Trustee and Company
 	
				  11

				  
	 	
				  Section
					 1.06
 	
				  Notice
					 to Holders; Waiver
 	
				  12

				  
	 	
				  Section
					 1.07
 	
				  Conflict
					 with Trust Indenture Act
 	
				  12

				  
	 	
				  Section
					 1.08
 	
				  Effect
					 of Headings and Table of Contents
 	
				  13

				  
	 	
				  Section
					 1.09
 	
				  Successors
					 and Assigns
 	
				  13

				  
	 	
				  Section
					 1.10
 	
				  Separability
					 Clause
 	
				  13

				  
	 	
				  Section
					 1.11
 	
				  Benefits
					 of Indenture
 	
				  13

				  
	 	
				  Section
					 1.12
 	
				  Governing
					 Law
 	
				  13

				  
	 	
				  Section
					 1.13
 	
				  Legal
					 Holidays
 	
				  13

				  
	 	
				  Section
					 1.14
 	
				  Consent
					 to Service; Jurisdiction.
 	
				  14

				  
	 ARTICLE
				  II	
				  SECURITY
					 FORMS
 	
				  14

				  
	 	
				  Section
					 2.01
 	
				  Forms
					 Generally
 	
				  14

				  
	 	
				  Section
					 2.02
 	
				  Form of
					 Face of Security
 	
				  15

				  
	 	
				  Section
					 2.03
 	
				  Form of
					 Reverse of Security
 	
				  17

				  
	 	
				  Section
					 2.04
 	
				  Form of
					 Legend for Global Securities
 	
				  22

				  
	 	
				  Section
					 2.05
 	
				  Form of
					 Trustee’s Certificate of Authentication
 	
				  23

				  
	 ARTICLE
				  III	
				  THE
					 SECURITIES
 	
				  23

				  
	 	
				  Section
					 3.01
 	
				  Amount
					 Unlimited; Issuable in Series
 	
				  23

				  
	 	
				  Section
					 3.02
 	
				  Denominations

				  	
				  26

				  
	 	
				  Section
					 3.03
 	
				  Execution,
					 Authentication, Delivery and Dating
 	
				  26

				  
	 	
				  Section
					 3.04
 	
				  Temporary
					 Securities
 	
				  27

				  
	 	
				  Section
					 3.05
 	
				  Registration,
					 Registration of Transfer and Exchange
 	
				  28

				  
	 	
				  Section
					 3.06
 	
				  Mutilated,
					 Destroyed, Lost and Stolen Securities
 	
				  29

				  
	 	
				  Section
					 3.07
 	
				  Payment
					 of Interest; Interest Rights Preserved
 	
				  30

				  

 

		
		  i
		

		

		

		 

		TABLE
		  OF CONTENTS

		(continued)

		 

		
		  	 	 	 	
				   Page

				  
	 	
				  Section
					 3.08
 	
				  Persons
					 Deemed Owners
 	
				  31

				  
	 	
				  Section
					 3.09
 	
				  Cancellation

				  	
				  32

				  
	 	
				  Section
					 3.10
 	
				  Computation
					 of Interest
 	
				  32

				  
	 	
				  Section
					 3.11
 	
				  CUSIP
					 Numbers
 	
				  32

				  
	 ARTICLE
				  IV	
				  SATISFACTION
					 AND DISCHARGE
 	
				  32

				  
	 	
				  Section
					 4.01
 	
				  Satisfaction
					 and Discharge of Indenture
 	
				  32

				  
	 	
				  Section
					 4.02
 	
				  Application
					 of Trust Money
 	
				  33

				  
	 ARTICLE
				  V	
				  REMEDIES

				  	
				  34

				  
	 	
				  Section
					 5.01
 	
				  Events
					 of Default
 	
				  34

				  
	 	
				  Section
					 5.02
 	
				  Acceleration
					 of Maturity; Rescission and Annulment
 	
				  36

				  
	 	
				  Section
					 5.03
 	
				  Collection
					 of Indebtedness and Suits for Enforcement by Trustee
 	
				  37

				  
	 	
				  Section
					 5.04
 	
				  Trustee
					 May File Proofs of Claim
 	
				  37

				  
	 	
				  Section
					 5.05
 	
				  Trustee
					 May Enforce Claims Without Possession of Securities
 	
				  38

				  
	 	
				  Section
					 5.06
 	
				  Application
					 of Money Collected
 	
				  38

				  
	 	
				  Section
					 5.07
 	
				  Limitation
					 on Suits
 	
				  38

				  
	 	
				  Section
					 5.08
 	
				  Unconditional
					 Right of Holders to Receive Principal, Premium and Interest and to
					 Convert
 	
				  39

				  
	 	
				  Section
					 5.09
 	
				  Restoration
					 of Rights and Remedies
 	
				  39

				  
	 	
				  Section
					 5.10
 	
				  Rights
					 and Remedies Cumulative
 	
				  39

				  
	 	
				  Section
					 5.11
 	
				  Delay or
					 Omission Not Waiver
 	
				  40

				  
	 	
				  Section
					 5.12
 	
				  Control
					 by Holders
 	
				  40

				  
	 	
				  Section
					 5.13
 	
				  Waiver
					 of Past Defaults
 	
				  40

				  
	 	
				  Section
					 5.14
 	
				  Undertaking
					 for Costs
 	
				  41

				  
	 	
				  Section
					 5.15
 	
				  Waiver
					 of Usury, Stay or Extension Laws
 	
				  41

				  
	 ARTICLE
				  VI	
				  THE
					 TRUSTEE
 	
				  41

				  
	 	
				  Section
					 6.01
 	
				  Duties
					 of Trustee
 	
				  41

				  
	 	
				  Section
					 6.02
 	
				  Rights
					 of Trustee
 	
				  42

				  
	 	
				  Section
					 6.03
 	
				  Individual
					 Rights of Trustee
 	
				  43

				  
	 	
				  Section
					 6.04
 	
				  Trustee’s
					 Disclaimer
 	
				  43

				  
	 	
				  Section
					 6.05
 	
				  Notice
					 of Default
 	
				  44

				  

 

		
		  ii
		

		

		

		
		   

		  TABLE
			 OF CONTENTS

		  (continued)
 

		
		  	 	 	 	
				   Page

				  
	 	
				  Section
					 6.06
 	
				  Reports
					 by Trustee to Holders
 	
				  44

				  
	 	
				  Section
					 6.07
 	
				  Compensation
					 and Indemnity
 	
				  44

				  
	 	
				  Section
					 6.08
 	
				  Replacement
					 of Trustee
 	
				  45

				  
	 	
				  Section
					 6.09
 	
				  Successor
					 Trustee by Merger, Etc
 	
				  46

				  
	 	
				  Section
					 6.10
 	
				  Eligibility;
					 Disqualification
 	
				  46

				  
	 	
				  Section
					 6.11
 	
				  Preferential
					 Collection of Claims against Company
 	
				  46

				  
	 ARTICLE
				  VII	
				  HOLDERS’
					 LISTS AND REPORTS BY TRUSTEE AND COMPANY
 	
				  46

				  
	 	
				  Section
					 7.01
 	
				  Company
					 to Furnish Trustee Names and Addresses of Holders
 	
				  46

				  
	 	
				  Section
					 7.02
 	
				  Preservation
					 of Information; Communications to Holders
 	
				  47

				  
	 	
				  Section
					 7.03
 	
				  Reports
					 by Trustee
 	
				  47

				  
	 	
				  Section
					 7.04
 	
				  Reports
					 by Company
 	
				  47

				  
	 ARTICLE
				  VIII	
				  
					 CONSOLIDATION,
						MERGER, CONVEYANCE, TRANSFER OR LEASE
 
 	
				  48

				  
	 	
				  Section
					 8.01
 	
				  When
					 Company May Merge, Etc
 	
				  48

				  
	 	
				  Section
					 8.02
 	
				  Successor
					 Corporation Substituted
 	
				  48

				  
	 ARTICLE
				  IX	
				  
					 SUPPLEMENTAL
						INDENTURES
 
 	
				  49

				  
	 	
				  Section
					 9.01
 	
				  Supplemental
					 Indentures Without Consent of Holders
 	
				  49

				  
	 	
				  Section
					 9.02
 	
				  Supplemental
					 Indentures with Consent of Holders
 	
				  50

				  
	 	
				  Section
					 9.03
 	
				  Execution
					 of Supplemental Indentures
 	
				  51

				  
	 	
				  Section
					 9.04
 	
				  Effect
					 of Supplemental Indentures
 	
				  51

				  
	 	
				  Section
					 9.05
 	
				  Conformity
					 with Trust Indenture Act
 	
				  52

				  
	 	
				  Section
					 9.06
 	
				  Reference
					 in Securities to Supplemental Indentures
 	
				  52

				  
	 ARTICLE
				  X	
				  
					 COVENANTS

					 
 	
				  52

				  
	 	
				  Section
					 10.01
 	
				  Payment
					 of Securities
 	
				  52

				  
	 	
				  Section
					 10.02
 	
				  Maintenance
					 of Office or Agency
 	
				  52

				  
	 	
				  Section
					 10.03
 	
				  Money
					 for Securities Payments to Be Held in Trust
 	
				  53

				  
	 	
				  Section
					 10.04
 	
				  Corporate
					 Existence
 	
				  54

				  
	 	
				  Section
					 10.05
 	
				  Payment
					 of Taxes and Other Claims
 	
				  54

				  
	 	
				  Section
					 10.06
 	
				  Compliance
					 Certificate; Notice of Default
 	
				  54

				  
	 	
				  Section
					 10.07
 	
				  Waiver
					 of Stay, Extension or Usury Laws
 	
				  55

				  

 

		
		  iii
		

		

		

		
		   

		  TABLE
			 OF CONTENTS

		  (continued)
 

		
		  	 	 	 	
				   Page

				  
	 	
				  Section 10.08
 	
				  Limitation
					 on Liens
 	
				  55

				  
	 	
				  Section
					 10.09
 	
				  Limitation
					 on Transactions with Affiliates
 	
				  55

				  
	 ARTICLE
				  XI	
				  
					 REDEMPTION
						OF SECURITIES
 
 	
				  56

				  
	 	
				  Section
					 11.01
 	
				  Applicability
					 of Article
 	
				  56

				  
	 	
				  Section
					 11.02
 	
				  Election
					 to Redeem; Notice to Trustee
 	
				  56

				  
	 	
				  Section
					 11.03
 	
				  Selection
					 by Trustee of Securities to Be Redeemed
 	
				  56

				  
	 	
				  Section
					 11.04
 	
				  Notice
					 of Redemption
 	
				  57

				  
	 	
				  Section
					 11.05
 	
				  Deposit
					 of Redemption Price
 	
				  58

				  
	 	
				  Section
					 11.06
 	
				  Securities
					 Payable on Redemption Date
 	
				  58

				  
	 	
				  Section
					 11.07
 	
				  Securities
					 Redeemed in Part
 	
				  58

				  
	 ARTICLE
				  XII	
				  
					 SINKING
						FUNDS
 
 	
				  59

				  
	 	
				  Section
					 12.01
 	
				  Applicability
					 of Article
 	
				  59

				  
	 	
				  Section
					 12.02
 	
				  Satisfaction
					 of Sinking Fund Payments with Securities
 	
				  59

				  
	 	
				  Section
					 12.03
 	
				  Redemption
					 of Securities for Sinking Fund
 	
				  60

				  
	 ARTICLE
				  XIII	
				  
					 DEFEASANCE
						AND COVENANT DEFEASANCE
 
 	
				  60

				  
	 	
				  Section
					 13.01
 	
				  Company’s
					 Option to Effect Defeasance or Covenant Defeasance
 	
				  60

				  
	 	
				  Section
					 13.02
 	
				  Defeasance
					 and Discharge
 	
				  61

				  
	 	
				  Section
					 13.03
 	
				  Covenant
					 Defeasance
 	
				  61

				  
	 	
				  Section
					 13.04
 	
				  Conditions
					 to Defeasance or Covenant Defeasance
 	
				  61

				  
	 	
				  Section
					 13.05
 	
				  Deposited
					 Money and U.S. Government Obligations to be Held in Trust;
					 Other Miscellaneous Provisions
 	
				  
63

				  
	 	
				  Section
					 13.06
 	
				  Reinstatement

				  	
				  64

				  
	 ARTICLE
				  XIV	
				  CONVERSION
					 OF SECURITIES
 	
				  64

				  
	 	
				  Section
					 14.01
 	
				  Applicability;
					 Conversion Privilege and Conversion Price
 	
				  64

				  
	 	
				  Section
					 14.02
 	
				  Exercise
					 of Conversion Privilege
 	
				  65

				  
	 	
				  Section
					 14.03
 	
				  Fractions
					 of Shares
 	
				  66

				  
	 	
				  Section
					 14.04
 	
				  Adjustment
					 of Conversion Price
 	
				  66

				  
	 	
				  Section
					 14.05
 	
				  Notice
					 of Adjustments of Conversion Price
 	
				  68

				  
	 	
				  Section
					 14.06
 	
				  Notice
					 of Certain Corporate Action
 	
				  69

				  
	 	
				  Section
					 14.07
 	
				  Company
					 to Reserve Common Shares
 	
				  70

				  

 

		
		  iv
		

		

		

		
		   

		  TABLE
			 OF CONTENTS

		  (continued)
 

		
		  	 	 	 	
				   Page

				  
	 	
				  Section
					 14.08
 	
				  Taxes on
					 Conversions
 	
				  70

				  
	 	
				  Section
					 14.09
 	
				  Covenant
					 as to Common Shares
 	
				  70

				  
	 	
				  Section
					 14.10
 	
				  Cancellation
					 of Converted Securities
 	
				  70

				  
	 	
				  Section 14.11
 	
				  Provisions
					 in Case of Consolidation, Merger or Sale of Assets
 	
				  70

				  
	 	
				  Section
					 14.12
 	
				  Responsibility
					 of Trustee
 	
				  71

				  

 
 

	 
		v
	 

	 

	 

	  

	 INDENTURE,
		dated as of December 27, 2006, between Primus Guaranty, Ltd., a company duly
		organized and existing under the laws of Bermuda (herein called the
		“Company”),
		having its principal office at Clarendon House, 2 Church Street,
		Hamilton HM11, Bermuda, and Deutsche Bank Trust Company Americas, a New
		York banking corporation, as Trustee (herein called the “Trustee”).

	  

	 RECITALS
		OF THE COMPANY

	  

	 The
		Company has duly authorized the execution and delivery of this Indenture to
		provide for the issuance from time to time of its unsecured debentures, notes
		or other evidences of indebtedness (herein called the “Securities”),
		to be issued in one or more series as in this Indenture provided.

	  

	 All
		things necessary to make this Indenture a valid and legally binding agreement
		of the Company, in accordance with its terms, have been done.

	  

	 NOW,
		THEREFORE, THIS INDENTURE WITNESSETH:

	  

	 For and
		in consideration of the premises and the purchase of the Securities by the
		Holders thereof, it is mutually agreed, for the equal and proportionate benefit
		of all Holders of the Securities or of series thereof, as follows:

	  

	 ARTICLE
		I  

	  

	 DEFINITIONS
		AND OTHER PROVISIONS

	 OF
		GENERAL APPLICATION

	  

	 
		Section
		  1.01 Definitions.

		

	  

	 For all
		purposes of this Indenture, except as otherwise expressly provided or unless
		the context otherwise requires:

	  

	 
		(1)
		  the
		  terms defined in this Article have the meanings assigned to them in this
		  Article and include the plural as well as the singular;
 

	  

	 
		(2)
		  all
		  other terms used herein which are defined in the Trust Indenture Act, either
		  directly or by reference therein, have the meanings assigned to them
		  therein;
 

	  

	 
		(3)
		  all
		  accounting terms not otherwise defined herein have the meanings assigned to
		  them in accordance with generally accepted accounting principles, and, except
		  as otherwise herein expressly provided, the term GAAP with respect to any
		  computation required or permitted hereunder shall mean such accounting
		  principles as are generally accepted at the date of such
		  computation;
 

	  

	 
		(4)
		  the
		  words “Article” and “Section” refer to an Article and
		  Section, respectively, of this Indenture; 
 

	 
		1
	 

	 

	 

	  

	 
		(5)
		  the
		  words “herein”, “hereof” and “hereunder” and
		  other words of similar import refer to this Indenture as a whole and not to any
		  particular Article, Section or other subdivision; and
 

	  

	 
		(6)
		  certain
		  terms used principally in Articles VI, X, XIII and XIV, are defined in those
		  Articles.
 

	  

	 “Act”,
		when used with respect to any Holder, has the meaning specified in Section
		1.04.

	  

	 “Affiliate”
		of any specified Person means any other Person directly or indirectly
		controlling or controlled by or under direct or indirect common control with
		such specified Person. For the purposes of this definition, “control”
		when used with respect to any specified Person means the power to direct the
		management and policies of such Person, directly or indirectly, whether through
		the ownership of voting securities, by contract or otherwise; and the terms
		“controlling” and “controlled” have meanings correlative to
		the foregoing.

	  

	 “Bankruptcy
		Law” means Title 11, U.S. Code or any similar Federal, state or foreign
		law for the relief of debtors.

	  

	 “Board
		of Directors” means either the board of directors of the Company or any
		duly authorized committee of that board.

	  

	 “Board
		Resolution” means a copy of a resolution certified by the Secretary or an
		Assistant Secretary of the Company to have been duly adopted by the Board of
		Directors and to be in full force and effect on the date of such certification,
		and delivered to the Trustee.

	  

	 “Business
		Day”, when used with respect to any Place of Payment, means each Monday,
		Tuesday, Wednesday, Thursday and Friday which is not a day on which banking
		institutions in that Place of Payment are authorized or obligated by law or
		executive order to close.

	  

	 “Capital
		Lease Obligation” means, at any time any determination thereof is made,
		the amount of the liability in respect of a capital lease that would at such
		time be so required to be capitalized on the balance sheet in accordance with
		generally accepted accounting principles.

	  

	 “Capital
		Stock”, as applied to the share capital of any corporation, means the
		share capital of every class whether now or hereafter authorized, regardless of
		whether such share capital shall be limited to a fixed sum or percentage with
		respect to the rights of the holders thereof to participate in dividends and in
		the distribution of assets upon the voluntary or involuntary liquidation,
		dissolution or winding up of such corporation.

	  

	 “Commission”
		means the Securities and Exchange Commission, from time to time constituted,
		created under the Exchange Act or, if at any time after the execution of this
		instrument such Commission is not existing and performing the duties now
		assigned to it under the Trust Indenture Act, then the body performing such
		duties at such time.

	 
		2
	 

	 

	 

	  

	 “Common
		Shares” includes any shares of any class of the Company which have no
		preference in respect of dividends or of amounts payable in the event of any
		voluntary or involuntary liquidation, dissolution or winding-up of the Company
		and which are not subject to redemption by the Company. However, subject to the
		provisions of Section 3.01(16) and (17) and Section 14.11, shares issuable on
		conversion of Securities shall include only shares of the class designated as
		Common Shares of the Company at the date of this instrument or shares of any
		class or classes resulting from any reclassification or reclassifications
		thereof and which have no preference in respect of dividends or of amounts
		payable in the event of any voluntary or involuntary liquidation, dissolution
		or winding-up of the Company and which are not subject to redemption by the
		Company; provided that if at any time there shall be more than one such
		resulting class, the shares of each such class then so issuable shall be
		substantially in the proportion which the total number of shares of such class
		resulting from all such reclassifications bears to the total number of shares
		of all such classes resulting from all such reclassifications.

	  

	 “Company”
		means the Person named as the “Company” in the first paragraph of
		this instrument until a successor Person shall have become such pursuant to the
		applicable provisions of this Indenture, and thereafter “Company”
		shall mean such successor Person.

	  

	 “Company
		Request” or “Company Order” means a written request or order
		signed in the name of the Company by its Chairman of the Board, a Vice Chairman
		of the Board, its President or a Vice President, and by its Treasurer, an
		Assistant Treasurer, its Secretary or an Assistant Secretary, and delivered to
		the Trustee.

	  

	 “Consolidated
		Net Worth” means, with respect to any Person as of any date, the sum of
		(i) the consolidated equity of the common shareholders of such Person and its
		Subsidiaries as of such date plus (ii) the respective amounts reported on such
		Person’s balance sheet as of such date with respect to any series of
		preferred shares (other than Disqualified Stock) that by its terms is not
		entitled to the payment of dividends unless such dividends may be declared and
		paid only out of net earnings in respect of the year of such declaration and
		payment, but only to the extent of any cash received by such Person upon
		issuance of such preferred shares.

	  

	 “Corporate
		Trust Office” means the principal office of the Trustee in New York, New
		York at which at any particular time its corporate trust business shall be
		administered, which office as of the date hereof is located at 60 Wall
		Street, 27th Floor,
		New York, New York 10005.

	  

	 “Corporation”
		means a corporation, association, company, joint-stock company or business
		trust.

	  

	 “Covenant
		Defeasance” has the meaning specified in Section 13.03.

	  

	 “Defaulted
		Interest” has the meaning specified in Section 3.07.

	  

	 “Defeasance”
		has the meaning specified in Section 13.02.

	  

	 “Defeasible
		Series” has the meaning specified in Section 13.01.

	 
		3
	 

	 

	 

	  

	 “Depositary”
		means, with respect to Securities of any series issuable in whole or in part in
		the form of one or more Global Securities, a clearing agency registered under
		the Exchange Act that is designated to act as Depositary for such Securities as
		contemplated by Section 3.01.

	  

	 “Disqualified
		Stock” means any Capital Stock which by its terms (or by the terms of any
		security into which it is convertible of for which it is exchangeable), or upon
		the happening of any event, matures or is mandatorily redeemable, pursuant to a
		sinking fund obligation or otherwise, or redeemable at the option of the Holder
		thereof, in whole or in part, on or prior to the final date of maturity of the
		Securities. 

	  

	 “Event
		of Default” has the meaning specified in Section 5.01.

	  

	 “Exchange
		Act” means the Securities Exchange Act of 1934, as amended from time to
		time, and any statute successor thereto.

	  

	 “GAAP”
		means generally accepted accounting principles set forth in the opinions and
		pronouncements of the Accounting Principles Board of the American Standards
		Board or in such other statements by such other entity as have been approved by
		a significant segment of the accounting profession. 

	  

	 “Global
		Security” means a Security that evidences all or part of the Securities of
		any series and is authenticated and delivered to, and registered in the name
		of, the Depositary for such Securities or a nominee thereof.

	  

	 “Guaranty”
		means a guarantee (other than by endorsement of negotiable instruments for
		collection in the ordinary course of business), direct or indirect, in any
		manner (including, without limitation, letters of credit and reimbursement
		agreements in respect thereof), or all or any part of any Indebtedness.
		

	  

	 “Hedging
		Obligations” means, with respect to any Person, the Obligations of such
		Person under interest rate swap agreements, interest rate cap agreements, and
		interest rate collar agreements, and other agreements or arrangements designed
		to protect such Person against fluctuations in interest rates.

	  

	 “Holder”
		means a Person in whose name a Security is registered in the Security
		Register.

	  

	 “Indebtedness”
		means, with respect to any Person, any indebtedness of such Person, whether or
		not contingent, in respect of borrowed money or evidenced by bonds, notes,
		debentures of similar instruments or letters of credit (or reimbursement
		agreements in respect thereof) or representing Capital Lease Obligations or the
		balance deferred and unpaid of the purchase price of any property or
		representing any Hedging Obligations, except any such balance that constitutes
		an accrued expense or trade payable, if and to the extent any of the foregoing
		indebtedness (other than letters of credit and Hedging Obligations) would
		appear as a liability upon a balance sheet of such Person prepared in
		accordance with GAAP, and also includes, to the extent not otherwise included,
		the Guaranty of any indebtedness of such Person or any other
		Person.

	 
		4
	 

	 

	 

	  

	 “Indenture”
		means this instrument as originally executed or as it may from time to time be
		supplemented or amended by one or more indentures supplemental hereto entered
		into pursuant to the applicable provisions hereof, including, for all purposes
		of this instrument, and any such supplemental indenture, the provisions of the
		Trust Indenture Act that are deemed to be a part of and govern this instrument
		and any such supplemental indenture, respectively. The term
		“Indenture” shall also include the terms of particular series of
		Securities established as contemplated by Section 3.01.

	  

	 “Interest”,
		when used with respect to an Original Issue Discount Security which by its
		terms bears interest only after Maturity, means interest payable after
		Maturity.

	  

	 “Interest
		Payment Date”, when used with respect to any Security, means the Stated
		Maturity of an installment of interest on such Security.

	  

	 “Lien”
		means any mortgage, lien, pledge, charge, security interest, or other
		encumbrance of any kind, whether or not filed, recorded or otherwise perfected
		under applicable law.

	  

	 “Material
		Subsidiary” means any Subsidiary of the Company or any of its Subsidiaries
		if the Company’s or any of its Subsidiaries’ investments in such
		Subsidiary at the date of determination thereof represent 5% or more of the
		Company’s Consolidated Net Worth as of such date.

	  

	 “Maturity”,
		when used with respect to any Security, means the date on which the principal
		of such Security or an installment of principal becomes due and payable as
		therein or herein provided, whether at the Stated Maturity or by declaration of
		acceleration, call for redemption or otherwise.

	  

	 “Notice
		of Default” means a written notice of the kind specified in Section
		5.01(4).

	  

	 “Obligations”
		means any principal, premium, interest, penalties, fees, indemnifications,
		reimbursements, damages and other liabilities payable under the documentation
		governing an Indebtedness. 

	  

	 “Officers’
		Certificate” means a certificate signed by the Chairman of the Board, a
		Vice Chairman of the Board, the President or a Vice President, and by the
		Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary, of
		the Company, and delivered to the Trustee. One of the officers signing an
		Officers’ Certificate given pursuant to Section 10.06 shall be the
		principal executive, financial or accounting officer of the
		Company.

	  

	 “Opinion
		of Counsel” means a written opinion of counsel, who may be counsel for the
		Company.

	  

	 “Original
		Issue Discount Security” means any Security which provides for an amount
		less than the principal amount thereof to be due and payable upon a declaration
		of acceleration of the Maturity thereof pursuant to Section 5.02.

	 
		5
	 

	 

	 

	  

	 “Outstanding”,
		when used with respect to Securities, means, as of the date of determination,
		all Securities theretofore authenticated and delivered under this Indenture,
		except:

	  

	 (1)
		Securities theretofore cancelled by the Trustee or delivered to the Trustee for
		cancellation;

	  

	 (2)
		Securities for whose payment or redemption money in the necessary amount has
		been theretofore deposited with the Trustee or any Paying Agent (other than the
		Company) in trust or set aside and segregated in trust by the Company (if the
		Company shall act as its own Paying Agent) for the Holders of such Securities;
		provided that,
		if such Securities are to be redeemed, notice of such redemption has been duly
		given pursuant to this Indenture or provision therefor satisfactory to the
		Trustee has been made;

	  

	 (3)
		Securities as to which Defeasance has been effected pursuant to Section 13.02;
		and

	  

	 (4)
		Securities which have been paid pursuant to Section 3.06 or in exchange for or
		in lieu of which other Securities have been authenticated and delivered
		pursuant to this Indenture, other than any such Securities in respect of which
		there shall have been presented to the Trustee proof satisfactory to it that
		such Securities are held by a bona fide purchaser in whose hands such
		Securities are valid obligations of the Company;

	  

	 provided,
		however, that
		in determining whether the Holders of the requisite principal amount of the
		Outstanding Securities have given any request, demand, authorization,
		direction, notice, consent or waiver hereunder, (A) the principal amount of an
		Original Issue Discount Security that shall be deemed to be Outstanding shall
		be the amount of the principal thereof that would be due and payable as of the
		date of such determination upon acceleration of the Maturity thereof to such
		date pursuant to Section 5.02, (B) the principal amount of a Security
		denominated in one or more foreign currencies or currency units shall be the
		U.S. dollar equivalent, determined in the manner provided as contemplated by
		Section 3.01 on the date of original issuance of such Security, of the
		principal amount (or, in the case of an Original Issue Discount Security, the
		U.S. dollar equivalent on the date of original issuance of such Security of the
		amount determined as provided in Clause (A) above) of such Security, and (C)
		Securities owned by the Company or any other obligor upon the Securities or any
		Affiliate of the Company or of such other obligor shall be disregarded and
		deemed not to be Outstanding, except that, in determining whether the Trustee
		shall be protected in relying upon any such request, demand, authorization,
		direction, notice, consent or waiver, only Securities which a Responsible
		Officer of the Trustee actually knows to be so owned shall be so disregarded.
		Securities so owned which have been pledged in good faith may be regarded as
		Outstanding if the pledgee establishes to the satisfaction of the Trustee the
		pledgee’s right so to act with respect to such Securities and that the
		pledgee is not the Company or any other obligor upon the Securities or any
		Affiliate of the Company or of such other obligor.

	  

	 “Paying
		Agent” means any Person authorized by the Company to pay the principal of
		or any premium or interest on any Securities on behalf of the
		Company.

	 
		6
	 

	 

	 

	  

	 “Permitted
		Liens” means (a) Liens in favor of the Company; (b) Liens on any shares of
		Voting Stock of any corporation existing at the time such corporation becomes a
		Material Subsidiary of the Company (and any extensions, renewals or
		replacements thereof); (c) Liens to secure the performance of statutory
		obligations, surety or appeal bonds, performance bonds or other Obligations of
		a like nature incurred in the ordinary course of business; (d) mechanics’,
		materialmen’s, workmen’s, repairmen’s, warehousemen’s and
		carrier’s liens arising in the ordinary course of business; (e) easements,
		rights of way and other similar restrictions that do not materially adversely
		affect the use and enjoyment of the property subject thereto or affected
		thereby and (f) Liens for taxes, assessments or governmental charges or claims
		that are not yet delinquent or that are being contested in good faith by
		appropriate proceedings promptly instituted and diligently concluded;
		provided, that
		any reserve or appropriate provision as shall be required in conformity with
		generally accepted accounting principles shall have been made
		therefor.

	  

	 “Person”
		means any individual, corporation, partnership, joint venture, limited
		liability company, joint stock company, trust, unincorporated organization or
		government or any agency or political subdivision thereof.

	  

	 “Place
		of Payment”, when used with respect to the Securities of any series, means
		the place or places where the principal of and any premium and interest on the
		Securities of that series are payable as specified as contemplated by Section
		3.01.

	  

	 “Predecessor
		Security” of any particular Security means every previous Security
		evidencing all or a portion of the same debt as that evidenced by such
		particular Security; and, for the purposes of this definition, any Security
		authenticated and delivered under Section 3.06 in exchange for or in lieu of a
		mutilated, destroyed, lost or stolen Security shall be deemed to evidence the
		same debt as the mutilated, destroyed, lost or stolen Security.

	  

	 “Redemption
		Date”, when used with respect to any Security to be redeemed, means the
		date fixed for such redemption by or pursuant to this Indenture.

	  

	 “Redemption
		Price”, when used with respect to any Security to be redeemed, means the
		price at which it is to be redeemed pursuant to this Indenture.

	  

	 “Regular
		Record Date” for the interest payable on any Interest Payment Date on the
		Securities of any series means the date specified for that purpose as
		contemplated by Section 3.01.

	  

	 “Responsible
		Officer”, when used with respect to the Trustee, means any managing
		director, director, associate, vice president, any assistant treasurer, any
		trust officer or assistant trust officer or any other officer of the Trustee
		customarily performing functions similar to those performed by any of the above
		designated officers and also means, with respect to a particular corporate
		trust matter, any other officer to whom such matter is referred because of his
		knowledge of and familiarity with the particular subject and who shall have
		direct responsibility for the administration of this Indenture.

	  

	 “Securities”
		has the meaning stated in the first recital of this Indenture and more
		particularly means any Securities authenticated and delivered under this
		Indenture.

	 
		7
	 

	 

	 

	  

	 “Securities
		Act” means the Securities Act of 1933, as amended, and the rules and
		regulations of the Securities and Exchange Commission promulgated
		thereunder.

	  

	 “Security
		Register” and “Security Registrar” have the respective meanings
		specified in Section 3.05.

	  

	 “Special
		Record Date” for the payment of any Defaulted Interest means a date fixed
		by the Trustee pursuant to Section 3.07.

	  

	 “Stated
		Maturity”, when used with respect to any Security or any installment of
		principal thereof or interest thereon, means the date specified in such
		Security as the fixed date on which the principal of such Security or such
		installment of principal or interest is due and payable.

	  

	 “Subsidiary”
		means a corporation more than 50% of the outstanding Voting Stock of which is
		owned, directly or indirectly, by the Company or by one or more other
		Subsidiaries, or by the Company and one or more other Subsidiaries.
		

	  

	 “Trust
		Indenture Act” means the Trust Indenture Act of 1939 as in force at the
		date as of which this instrument was executed; provided,
		however, that
		in the event the Trust Indenture Act of 1939 is amended after such date,
		“Trust Indenture Act” means, to the extent required by any such
		amendment, the Trust Indenture Act of 1939 as so amended.

	  

	 “Trustee”
		means the Person named as the “Trustee” in the first paragraph of
		this instrument until a successor Trustee shall have become such pursuant to
		the applicable provisions of this Indenture, and thereafter “Trustee”
		shall mean or include each Person who is then a Trustee hereunder, and if at
		any time there is more than one such Person, “Trustee” as used with
		respect to the Securities of any series shall mean each Trustee with respect to
		Securities of that series.

	  

	 “U.S.
		Government Obligations” has the meaning specified in Section
		13.04.

	  

	 “Vice
		President”, when used with respect to the Company or the Trustee, means
		any vice president, whether or not designated by a number or a word or words
		added before or after the title “vice president”.

	  

	 “Voting
		Stock” means any class or classes of Capital Stock pursuant to which the
		holders thereof have the general voting power under ordinary circumstances to
		elect at least a majority of the board of directors, managers or trustees of
		any Person (irrespective of whether or not at the time shares of any other
		class or classes shall have or might have voting power by reason of the
		happening of any contingency).

	  

	 
		Section
		  1.02 Compliance
		  Certificates and Opinions.

		

	  

	 Upon any
		application or request by the Company to the Trustee to take any action under
		any provision of this Indenture, the Company shall furnish to the Trustee such
		certificates and opinions as may be required under the Trust Indenture Act.
		Each such certificate or opinion shall be given in the form of an
		Officers’ Certificate, if to be given by an officer of the Company,
		

	 
		8
	 

	 

	 

	  

	 or an
		Opinion of Counsel, if to be given by counsel, and shall comply with the
		requirements of the Trust Indenture Act and any other requirements set forth in
		this Indenture.

	  

	 Every
		certificate or opinion with respect to compliance with a condition or covenant
		provided for in this Indenture (including certificates provided for in Section
		10.06) shall include

	  

	 
		(1) a
		  statement that each individual signing such certificate or opinion has read
		  such covenant or condition and the definitions herein relating
		  thereto;
 

	  

	 
		(2)
		  a brief
		  statement as to the nature and scope of the examination or investigation upon
		  which the statements or opinions contained in such certificate or opinion are
		  based;
 

	  

	 
		(3) a
		  statement that, in the opinion of each such individual, he has made such
		  examination or investigation as is necessary to enable him to express an
		  informed opinion as to whether or not such covenant or condition has been
		  complied with; and
 

	  

	 
		(4)
		  a
		  statement as to whether, in the opinion of each such individual, such condition
		  or covenant has been complied with.
 

	  

	 
		Section
		  1.03 Form
		  of Documents Delivered to Trustee.

		

	  

	 In any
		case where several matters are required to be certified by, or covered by an
		opinion of, any specified Person, it is not necessary that all such matters be
		certified by, or covered by the opinion of, only one such Person, or that they
		be so certified or covered by only one document, but one such Person may
		certify or give an opinion with respect to some matters and one or more other
		such Persons as to other matters, and any such Person may certify or give an
		opinion as to such matters in one or several documents.

	  

	 Any
		certificate or opinion of an officer of the Company may be based, insofar as it
		relates to legal matters, upon a certificate or opinion of, or representations
		by, counsel, unless such officer knows, or in the exercise of reasonable care
		should know, that the certificate or opinion or representations with respect to
		the matters upon which his certificate or opinion is based are erroneous. Any
		such certificate or opinion of counsel may be based, insofar as it relates to
		factual matters, upon a certificate or opinion of, or representations by, an
		officer or officers of the Company or any subsidiary of the Company stating
		that the information with respect to such factual matters is in the possession
		of the Company or any subsidiary of the Company, unless such counsel knows, or
		in the exercise of reasonable care should know, that the certificate or opinion
		or representations with respect to such matters are erroneous.

	  

	 Where
		any Person is required to make, give or execute two or more applications,
		requests, consents, certificates, statements, opinions or other instruments
		under this Indenture, they may, but need not, be consolidated and form one
		instrument.

	 
		9
	 

	 

	 

	  

	 
		Section
		  1.04 Acts
		  of Holders; Record Dates.

		

	  

	 Any
		request, demand, authorization, direction, notice, consent, waiver or other
		action provided or permitted by this Indenture to be given or taken by Holders
		may be embodied in and evidenced by one or more instruments of substantially
		similar tenor signed by such Holders in person or by agent duly appointed in
		writing; and, except as herein otherwise expressly provided, such action shall
		become effective when such instrument or instruments are delivered to the
		Trustee and, where it is hereby expressly required, to the Company. Such
		instrument or instruments (and the action embodied therein and evidenced
		thereby) are herein sometimes referred to as the “Act”
		of the Holders signing such instrument or instruments. Proof of execution of
		any such instrument or of a writing appointing any such agent shall be
		sufficient for any purpose of this Indenture and (subject to Section 6.01)
		conclusive in favor of the Trustee and the Company, if made in the manner
		provided in this Section.

	  

	 The fact
		and date of the execution by any Person of any such instrument or writing may
		be proved by the affidavit of a witness of such execution or by a certificate
		of a notary public or other officer authorized by law to take acknowledgments
		of deeds, certifying that the individual signing such instrument or writing
		acknowledged to him the execution thereof. Where such execution is by a signer
		acting in a capacity other than his individual capacity, such certificate or
		affidavit shall also constitute sufficient proof of his authority. The fact and
		date of the execution of any such instrument or writing, or the authority of
		the Person executing the same, may also be proved in any other manner which the
		Trustee deems sufficient.

	  

	 The
		ownership of Securities shall be proved by the Security Register.

	  

	 Any
		request, demand, authorization, direction, notice, consent, waiver or other Act
		of the Holder of any Security shall bind every future Holder of the same
		Security and the Holder of every Security issued upon the registration of
		transfer thereof or in exchange therefor or in lieu thereof in respect of
		anything done, omitted or suffered to be done by the Trustee or the Company in
		reliance thereon, whether or not notation of such action is made upon such
		Security.

	  

	 The
		Company may, in the circumstances permitted by the Trust Indenture Act, set any
		day as the record date for the purpose of determining the Holders of
		Outstanding Securities of any series entitled to give or take any request,
		demand, authorization, direction, notice, consent, waiver or other action
		provided or permitted by this Indenture to be given or taken by Holders of
		Securities of such series. With regard to any record date set pursuant to this
		paragraph, the Holders of Outstanding Securities of the relevant series on such
		record date (or their duly appointed agents), and only such Persons, shall be
		entitled to give or take the relevant action, whether or not such Holders
		remain Holders after such record date. With regard to any action that may be
		given or taken hereunder only by Holders of a requisite principal amount of
		Outstanding Securities of any series (or their duly appointed agents) and for
		which a record date is set pursuant to this paragraph, the Company may, at its
		option, set an expiration date after which no such action purported to be given
		or taken by any Holder shall be effective hereunder unless given or taken on or
		prior to such expiration date by Holders of the requisite principal amount of
		Outstanding Securities of such series on such record date (or their duly
		appointed agents). On or prior to any expiration date set pursuant to this
		paragraph, the Company may, on one or more occasions at its option, extend such
		date to any later date. Nothing in this paragraph 

	 
		10
	 

	 

	 

	  

	 shall
		prevent any Holder (or any duly appointed agent thereof) from giving or taking,
		after any such expiration date, any action identical to, or, at any time,
		contrary to or different from, the action or purported action to which such
		expiration date relates, in which event the Company may set a record date in
		respect thereof pursuant to this paragraph. Nothing in this paragraph shall be
		construed to render ineffective any action taken at any time by the Holders (or
		their duly appointed agents) of the requisite principal amount of Outstanding
		Securities of the relevant series on the date such action is so taken.
		Notwithstanding the foregoing or the Trust Indenture Act, the Company shall not
		set a record date for, and the provisions of this paragraph shall not apply
		with respect to, any notice, declaration or direction referred to in the next
		paragraph.

	  

	 The
		Trustee may set any day as a record date for the purpose of determining the
		Holders of Outstanding Securities of any series entitled to join in the giving
		or making of (i) any Notice of Default, (ii) any declaration of acceleration
		referred to in Section 5.02, if an Event of Default with respect to Securities
		of such series has occurred and is continuing and the Trustee shall not have
		given such a declaration to the Company, (iii) any request to institute
		proceedings referred to in Section 5.07(2) or (iv) any direction referred to in
		Section 5.12, in each case with respect to Securities of such series. Promptly
		after any record date is set pursuant to this paragraph, the Trustee shall
		notify the Company and the Holders of Outstanding Series of such series of any
		such record date so fixed and the proposed action. The Holders of Outstanding
		Securities of such series on such record date (or their duly appointed agents),
		and only such Persons, shall be entitled to join in such notice, declaration or
		direction, whether or not such Holders remain Holders after such record date;
		provided that,
		unless such notice, declaration or direction shall have become effective by
		virtue of Holders of the requisite principal amount of Outstanding Securities
		of such series on such record date (or their duly appointed agents) having
		joined therein on or prior to the 90th day after such record date, such notice,
		declaration or direction shall automatically and without any action by any
		Person be cancelled and of no further effect. Nothing in this paragraph shall
		be construed to prevent a Holder (or a duly appointed agent thereof) from
		giving, before or after the expiration of such 90-day period, a notice,
		declaration or direction contrary to or different from, or, after the
		expiration of such period, identical to, the notice, declaration or direction
		to which such record date relates, in which event a new record date in respect
		thereof shall be set pursuant to this paragraph. Nothing in this paragraph
		shall be construed to render ineffective any notice, declaration or direction
		of the type referred to in this paragraph given at any time to the Trustee and
		the Company by Holders (or their duly appointed agents) of the requisite
		principal amount of Outstanding Securities of the relevant series on the date
		such notice, declaration or direction is so given.

	  

	 Without
		limiting the foregoing, a Holder entitled hereunder to give or take any action
		hereunder with regard to any particular Security may do so with regard to all
		or any part of the principal amount of such Security or by one or more duly
		appointed agents each of which may do so pursuant to such appointment with
		regard to all or any different part of such principal amount.

	  

	 
		Section
		  1.05 Notices,
		  Etc., to Trustee and Company.

		

	  

	 Any
		request, demand, authorization, direction, notice, consent, waiver or Act of
		Holders or other document provided or permitted by this Indenture to be made
		upon, given or furnished to, or filed with,

	 
		11
	 

	 

	 

	  

	 
		(1) the
		  Trustee by any Holder or by the Company shall be sufficient for every purpose
		  hereunder if made, given, furnished or filed in writing (which may be via
		  facsimile) to or with the Trustee at its Corporate Trust Office, Attention:
		  Corporate Trust Department, or
 

	  

	 
		(2) the
		  Company by the Trustee or by any Holder shall be sufficient for every purpose
		  hereunder (unless otherwise herein expressly provided) if in writing and
		  mailed, first-class postage prepaid, to the Company addressed to it at the
		  address of its principal office specified in the first paragraph of this
		  instrument or at any other address previously furnished in writing to the
		  Trustee by the Company.
 

	  

	 
		Section
		  1.06 Notice
		  to Holders; Waiver.

		

	  

	 Where
		this Indenture provides for notice to Holders of any event, such notice shall
		be sufficiently given (unless otherwise herein expressly provided) if in
		writing and mailed, first-class postage prepaid, to each Holder affected by
		such event, at his address as it appears in the Security Register, not later
		than the latest date (if any), and not earlier than the earliest date (if any),
		prescribed for the giving of such notice. In any case where notice to Holders
		is given by mail, neither the failure to mail such notice, nor any defect in
		any notice so mailed, to any particular Holder shall affect the sufficiency of
		such notice with respect to other Holders. Where this Indenture provides for
		notice in any manner, such notice may be waived in writing by the Person
		entitled to receive such notice, either before or after the event, and such
		waiver shall be the equivalent of such notice. Waivers of notice by Holders
		shall be filed with the Trustee, but such filing shall not be a condition
		precedent to the validity of any action taken in reliance upon such
		waiver.

	  

	 In case
		by reason of the suspension of regular mail service or by reason of any other
		cause it shall be impracticable to give such notice by mail, then such
		notification as shall be made with the approval of the Trustee shall constitute
		a sufficient notification for every purpose hereunder.

	  

	 
		Section
		  1.07 Conflict
		  with Trust Indenture Act.

		

	  

	 If any
		provision hereof limits, qualifies or conflicts with a provision of the Trust
		Indenture Act that is required under such Act to be a part of and govern this
		Indenture, the Trust Indenture Act provision shall control. If any provision of
		this Indenture modifies or excludes any provision of the Trust Indenture Act
		that may be so modified or excluded, the latter provision shall be deemed to
		apply to this Indenture as so modified or to be excluded, as the case may be.
		Wherever this Indenture refers to a provision of the Trust Indenture Act, such
		provision is incorporated by reference in and made a part of this
		Indenture.

	  

	 The
		following Trust Indenture Act terms used in this Indenture have the following
		meanings:

	  

	 “commission”
		means the United States Securities and Exchange Commission;

	  

	 “indenture
		securities” means the Securities;

	 
		12
	 

	 

	 

	  

	 “indenture
		security holder” means a Holder;

	  

	 “indenture
		to be qualified” means this Indenture;

	  

	 “indenture
		trustee” or “institutional trustee” means the Trustee;
		and

	  

	 “obligor
		on the indenture securities” means the Company and any other obligor on
		the Securities.

	  

	 All
		other Trust Indenture Act terms used in this Indenture that are defined by the
		Trust Indenture Act, defined by the Trust Indenture Act referenced to another
		statute or defined by any Commission Rule and not otherwise defined herein have
		the meanings defined to them thereby.

	  

	 
		Section
		  1.08 Effect
		  of Headings and Table of Contents.

		

	  

	 The
		Article and Section headings herein and the Table of Contents are for
		convenience only and shall not affect the construction hereof.

	  

	 
		Section
		  1.09 Successors
		  and Assigns.

		

	  

	 All
		covenants and agreements in this Indenture by the Company shall bind its
		successors and assigns, whether so expressed or not.

	  

	 
		Section
		  1.10 Separability
		  Clause.

		

	  

	 In case
		any provision in this Indenture or in the Securities shall be invalid, illegal
		or unenforceable, the validity, legality and enforceability of the remaining
		provisions shall not in any way be affected or impaired thereby.

	  

	 
		Section
		  1.11 Benefits
		  of Indenture.

		

	  

	 Nothing
		in this Indenture or in the Securities, express or implied, shall give to any
		Person, other than the parties hereto and their successors hereunder and the
		Holders, any benefit or any legal or equitable right, remedy or claim under
		this Indenture.

	  

	 
		Section
		  1.12 Governing
		  Law.

		

	  

	 This
		Indenture and the Securities shall be governed by and construed in accordance
		with the law of the State of New York, but without regard to principles of
		conflicts of laws.

	  

	 
		Section
		  1.13 Legal
		  Holidays.

		

	  

	 In any
		case where any Interest Payment Date, Redemption Date or Stated Maturity of any
		Security or the last date on which a Holder has the right to convert his
		Securities shall not be a Business Day at any Place of Payment, then
		(notwithstanding any other provision of this Indenture or of the Securities
		(other than a provision of the Securities of any series which specifically
		states that such provision shall apply in lieu of this Section)) payment of
		interest or 

	 
		13
	 

	 

	 

	  

	 principal
		(and premium, if any) or conversion of the Securities need not be made at such
		Place of Payment on such date, but may be made on the next succeeding Business
		Day at such Place of Payment with the same force and effect as if made on the
		Interest Payment Date or Redemption Date, or at the Stated Maturity, or on such
		last day for conversion; provided that no interest shall accrue for the
		intervening period.

	  

	 
		Section
		  1.14 Consent
		  to Service; Jurisdiction.
		  
 

	  

	 
		(1) The
		  Company and the Trustee agree that any legal suit, action or proceeding arising
		  out of or relating to this Indenture, and the Company agrees that any legal
		  suit, action or proceeding arising out of or relating to the Securities, may be
		  instituted in any federal or state court in the Borough of Manhattan, the City
		  of New York. Each of the Company and the Trustee waives any objection which it
		  may now or hereafter have to the laying of the venue of any such legal suit,
		  action or proceeding, waives any immunity from jurisdiction or to service of
		  process in respect of any such suit, action or proceeding, and irrevocably
		  submits to the exclusive jurisdiction of any such court in any such suit,
		  action or proceeding. 
 

	  

	 
		(2)
		  The
		  Company hereby designates and appoints Primus Asset Management, Inc., located
		  as of the date hereof at 360 Madison Avenue, New York, New York 10017 as its
		  authorized agent upon which process may be served in any legal suit, action or
		  proceeding arising out of or relating to this Indenture or the Securities which
		  may be instituted in any federal or state court in the Borough of Manhattan,
		  the City of New York, and agrees that service of process upon such agent, and
		  written notice of said service to the Company by the Person serving the same,
		  shall be deemed in every respect effective service of process upon the Company
		  in any such suit, action or proceeding and further designates its domicile, the
		  domicile of New York, New York specified above and any domicile it may have in
		  the future as its domicile to receive any notice hereunder (including service
		  of process). Service of process, to be effective upon the Trustee, must be
		  served at the Trustee’s Corporate Trust Office. If for any reason Primus
		  Asset Management, Inc., New York, New York (or any successor agent for this
		  purpose) shall cease to act as agent for service of process as provided above,
		  the Company will promptly appoint a successor agent for this purpose reasonably
		  acceptable to the Trustee. The Company agrees to take any and all actions
		  necessary to maintain such designation and appointment of such agent in full
		  force and effect.
 

	  

	 ARTICLE
		II  

	  

	 SECURITY
		FORMS

	  

	 
		Section
		  2.01 Forms
		  Generally.

		

	  

	 The
		Securities of each series shall be in substantially the form set forth in this
		Article, or in such other form as shall be established by or pursuant to a
		Board Resolution or in one or more indentures supplemental hereto, in each case
		with such appropriate insertions, omissions, substitutions and other variations
		as are required or permitted by this Indenture, and may have such letters,
		numbers or other marks of identification and such legends or 

	 
		14
	 

	 

	 

	  

	 endorsements
		placed thereon as may be required to comply with the rules of any securities
		exchange or as may, consistently herewith, be determined by the officers
		executing such Securities, as evidenced by their execution of the Securities.
		If the form of Securities of any series is established by action taken pursuant
		to a Board Resolution, a copy of an appropriate record of such action shall be
		certified by the Secretary or an Assistant Secretary of the Company and
		delivered to the Trustee at or prior to the delivery of the Company Order
		contemplated by Section 3.03 for the authentication and delivery of such
		Securities.

	  

	 The
		definitive Securities shall be printed, lithographed or engraved on steel
		engraved borders or may be produced in any other manner, all as determined by
		the officers executing such Securities, as evidenced by their execution of such
		Securities.

	  

	 
		Section
		  2.02 Form
		  of Face of Security.

		

	  

	 [Insert
		any legend required by the Internal Revenue Code and the regulations
		thereunder.]

	  

	 PRIMUS
		GUARANTY, LTD.

	 

	 ___________________________________________________

	 

	 

	 
			No.
				____________________	
				$_________
 

 

	  

	 Primus
		Guaranty, Ltd., a company duly organized and existing under the laws of Bermuda
		(herein called the “Company”,
		which term includes any successor Person under the Indenture hereinafter
		referred to), for value received, hereby promises to pay to
		_______________________________________, or registered assigns, the principal
		sum of ___________________ ___________________ Dollars on
		____________________________ ___________________________ [if
		the Security is to bear interest prior to Maturity, insert—,
		and to pay interest thereon from _______________________
		or from the most recent Interest Payment Date to which interest has been paid
		or duly provided for, semi-annually on ____________ and ____________ in each
		year, commencing __________ at the rate of ____% per annum, until the principal
		hereof is paid or made available for payment [if
		applicable, insert—,
		and at the rate of ____% per annum on any overdue principal and premium and on
		any overdue installment of interest]. The interest so payable, and punctually
		paid or duly provided for, on any Interest Payment Date will, as provided in
		such Indenture, be paid to the Person in whose name this Security (or one or
		more Predecessor Securities) is registered at the close of business on the
		Regular Record Date for such interest, which shall be the _______ or _______
		(whether or not a Business Day), as the case may be, next preceding such
		Interest Payment Date. Any such interest not so punctually paid or duly
		provided for will forthwith cease to be payable to the Holder on such Regular
		Record Date and may either be paid to the Person in whose name this Security
		(or one or more Predecessor Securities) is registered at the close of business
		on a Special Record Date for the payment of such Defaulted Interest to be fixed
		by the Trustee, notice whereof shall be given to Holders of Securities of this
		series not less than 10 days prior to such Special Record Date, or be paid at
		any time in any other lawful manner not inconsistent with the requirements of
		any securities exchange on which the Securities of this series may be listed,
		and 

	 
		15
	 

	 

	 

	  

	 upon
		such notice as may be required by such exchange, all as more fully provided in
		said Indenture].

	  

	 [If
		the Security is not to bear interest prior to Maturity, insert—
		The principal of this Security shall not bear interest except in the case of a
		default in payment of principal upon acceleration, upon redemption or at Stated
		Maturity and in such case the overdue principal of this Security shall bear
		interest at the rate of ____% per annum, which shall accrue from the date of
		such default in payment to the date payment of such principal has been made or
		duly provided for. Interest on any overdue principal shall be payable on
		demand. Any such interest on any overdue principal that is not so paid on
		demand shall bear interest at the rate of _______% per annum, which shall
		accrue from the date of such demand for payment to the date payment of such
		interest has been made or duly provided for, and such interest shall also be
		payable on demand.]

	  

	 Payment
		of the principal of (and premium, if any) and [if
		applicable, insert—
		any such] interest on this Security will be made at the office or agency of the
		Company maintained for that purpose in _____________, in such coin or currency
		of the United States of America as at the time of payment is legal tender for
		payment of public and private debts [if
		applicable, insert—;
		provided,
		however, that
		at the option of the Company payment of interest may be made by check mailed to
		the address of the Person entitled thereto as such address shall appear in the
		Security Register].

	  

	 Reference
		is hereby made to the further provisions of this Security set forth on the
		reverse hereof, which further provisions shall for all purposes have the same
		effect as if set forth at this place.

	  

	 Unless
		the certificate of authentication hereon has been executed by the Trustee
		referred to on the reverse hereof by manual signature, this Security shall not
		be entitled to any benefit under the Indenture or be valid or obligatory for
		any purpose.

	 
		16
	 

	 

	 

	  

	 IN
		WITNESS WHEREOF, the Company has caused this instrument to be duly executed
		under its corporate seal.

	  

	 Dated:

	  

	 
			 	 	 
	 	
				PRIMUS
				  GUARANTY, LTD.
 
	 
 	 
 	 
 
	 	By:  	 
	 	
				

				Name:
				  

				Title:

				

 

	 Attest:

	  

	 ______________________

	 

	 

	 
		Section
		  2.03 Form
		  of Reverse of Security.

		

	  

	 This
		Security is one of a duly authorized issue of securities of the Company (herein
		called the “Securities”),
		issued and to be issued in one or more series under an Indenture, dated as of
		__________ __, 20__ (herein called the “Indenture”),
		between the Company and _________________, as Trustee (herein called the
		“Trustee”,
		which term includes any successor trustee under the Indenture), to which
		Indenture and all indentures supplemental thereto reference is hereby made for
		a statement of the respective rights, limitations of rights, duties and
		immunities thereunder of the Company, the Trustee and the Holders of the
		Securities and of the terms upon which the Securities are, and are to be,
		authenticated and delivered. This Security is one of the series designated on
		the face hereof [if
		applicable, insert—,
		limited in aggregate principal amount to $___________].

	  

	 [If
		applicable, insert — Subject to and upon compliance with the provisions of
		the Indenture, the Holder of this Security is entitled, at his option, at any
		time on or before the close of business on __________, or in case this Security
		or a portion hereof is called for redemption, then in respect of this Security
		or such portion hereof until and including, but (unless the Company defaults in
		making the payment due upon redemption) not after, the close of business on the
		10th calendar day before the Redemption Date, to convert this Security (or any
		portion of the principal amount hereof which is $1,000 or an integral multiple
		thereof), at the principal amount hereof, or of such portion, into fully paid
		and non-assessable Common Shares (calculated as to each conversion to the
		nearest 1/100 of a share) of the Company at a conversion price per Common Share
		equal to $_____ per each Common Share (or at the current adjusted conversion
		price if an adjustment has been made as provided in the Indenture) by surrender
		of this Security, duly endorsed or assigned to the Company or in blank, to the
		Company at its office or agency in _________, accompanied by written notice to
		the Company that the Holder hereof elects to convert this Security, or if less
		than the entire principal amount hereof is to be converted, the portion hereof
		to be converted, and, in case such surrender shall be made during 

	 
		17
	 

	 

	 

	  

	 the
		period from the close of business on any Regular Record Date next preceding any
		Interest Payment Date to the opening of business on such Interest Payment Date
		(unless this Security or the portion thereof being converted has been called
		for redemption on a Redemption Date within such period), also accompanied by
		payment in funds acceptable to the Company of an amount equal to the interest
		payable on such Interest Payment Date on the principal amount of this Security
		then being converted. Subject to the aforesaid requirement for payment and, in
		the case of a conversion after the Regular Record Date next preceding any
		Interest Payment Date and on or before such Interest Payment Date, to the right
		of the Holder of this Security (or any Predecessor Security) of record at such
		Regular Record Date to receive an installment of interest (with certain
		exceptions provided in the Indenture), no payment or adjustment is to be made
		on conversion for interest accrued hereon or for dividends on the Common Shares
		issued on conversion. No fractions of shares or scrip representing fractions of
		shares will be issued on conversion, but instead of any fractional interest the
		Company shall pay a cash adjustment as provided in the Indenture. The
		conversion price is subject to adjustment as provided in the Indenture. In
		addition, the Indenture provides that in case of certain consolidations or
		mergers to which the Company is a party or the transfer of substantially all of
		the assets of the Company, the Indenture shall be amended, without the consent
		of any Holders of Securities, so that this Security, if then outstanding, will
		be convertible thereafter, during the period this Security shall be convertible
		as specified above, only into the kind and amount of securities, cash and other
		property receivable upon the consolidation, merger or transfer by a holder of
		the number of Common Shares into which this Security might have been converted
		immediately prior to such consolidation, merger or transfer (assuming such
		holder of the Common Shares failed to exercise any rights of election and
		received per share the kind and amount received per share by a plurality of
		non-electing shares).]

	  

	 [If
		applicable, insert—
		The Securities of this series are subject to redemption upon not less than 30
		days’ notice by mail, [if
		applicable, insert —
		(1) on ___________ in any year commencing with the year ______ and ending with
		the year ______ through operation of the sinking fund for this series at a
		Redemption Price equal to 100% of the principal amount, and (2)] at any time
		[if
		applicable, insert on or
		after ___________, 20__], as a whole or in part, at the election of the
		Company, at the following Redemption Prices (expressed as percentages of the
		principal amount): If redeemed [if
		applicable, insert—
		on or before _______________, __%, and if redeemed] during the 12-month period
		beginning _____________ of the years indicated,

	  

	 
			
				Year

					 	
				Redemption
				  Price
 	 	
				Year

					 	
				Redemption
				  Price
 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

 

	 

	 and
		thereafter at a Redemption Price equal to _____% of the principal amount,
		together in the case of any such redemption [if
		applicable, insert—
		(whether through operation of the sinking fund or otherwise)] with accrued
		interest to the Redemption Date, but interest installments whose 

	 
		18
	 

	 

	 

	  

	 Stated
		Maturity is on or prior to such Redemption Date will be payable to the Holders
		of such Securities, or one or more Predecessor Securities, of record at the
		close of business on the relevant Record Dates referred to on the face hereof,
		all as provided in the Indenture.]

	  

	 [If
		applicable, insert—
		The Securities of this series are subject to redemption upon not less than 30
		days’ notice by mail, (1) on ____________ in any year commencing with the
		year ____ and ending with the year ____ through operation of the sinking fund
		for this series at the Redemption Prices for redemption through operation of
		the sinking fund (expressed as percentages of the principal amount) set forth
		in the table below, and (2) at any time [if
		applicable, insert —
		on or after ____________], as a whole or in part, at the election of the
		Company, at the Redemption Prices for redemption otherwise than through
		operation of the sinking fund (expressed as percentages of the principal
		amount) set forth in the table below: If redeemed during the 12-month period
		beginning _____________ of the years indicated,

	  

	 
			 
				Year

					 	 
				Redemption
				  Price

				For
				  Redemption Through

				Operation
				  of the Sinking Fund
 	 	 
				Redemption

				Price For
				  Redemption

				Otherwise
				  Than Through

				Operation
				  of the Sinking Fund
 
	 	 	 	 	 

 

	  

	 and
		thereafter at a Redemption Price equal to _____% of the principal amount,
		together in the case of any such redemption (whether through operation of the
		sinking fund or otherwise) with accrued interest to the Redemption Date, but
		interest installments whose Stated Maturity is on or prior to such Redemption
		Date will be payable to the Holders of such Securities, or one or more
		Predecessor Securities, of record at the close of business on the relevant
		Record Dates referred to on the face hereof, all as provided in the
		Indenture.]

	  

	 [If
		applicable, insert —
		Notwithstanding the foregoing, the Company may not, prior to ____________,
		redeem any Securities of this series as contemplated by [if
		applicable, insert—
		Clause (2) of] the preceding paragraph as a part of, or in anticipation of, any
		refunding operation by the application, directly or indirectly, of moneys
		borrowed having an interest cost to the Company (calculated in accordance with
		generally accepted financial practice) of less than _____% per
		annum.]

	  

	 [If
		applicable, insert—
		The sinking fund for this series provides for the redemption on ____________ in
		each year beginning with the year _______ and ending with the year _____ of
		[if
		applicable, insert—
		not less than $____________ (“mandatory sinking fund”) and not more
		than] $________ aggregate principal amount of Securities of this series.
		Securities of this series acquired or redeemed by the Company otherwise than
		through (if
		applicable, insert—
		mandatory] sinking fund payments [if
		applicable, insert -
		and Securities surrendered for conversion] may be credited against subsequent
		[if
		applicable, insert—
		mandatory] sinking fund payments otherwise required to be made [if
		applicable, insert—
		in the inverse order in which they become due.]

	 
		19
	 

	 

	 

	  

	 [If
		the Security is subject to redemption of any kind, insert—
		In the event of redemption or conversion of this Security in part only, a new
		Security or Securities of this series and of like tenor for the unredeemed or
		unconverted portion hereof will be issued in the name of the Holder hereof upon
		the cancellation hereof.]

	  

	 [If
		applicable, insert—
		The Indenture contains provisions for defeasance at any time of [(1) the entire
		indebtedness of this Security or (2)] certain restrictive covenants and Events
		of Default with respect to this Security, in each case upon compliance with
		certain conditions set forth in the Indenture.]

	  

	 [If
		the Security is not an Original Issue Discount Security, insert—
		If an Event of Default with respect to Securities of this series shall occur
		and be continuing, the principal of the Securities of this series may be
		declared due and payable in the manner and with the effect provided in the
		Indenture.]

	  

	 [If
		the Security is an Original Issue Discount Security, insert—
		If an Event of Default with respect to Securities of this series shall occur
		and be continuing, an amount of principal of the Securities of this series may
		be declared due and payable in the manner and with the effect provided in the
		Indenture. Such amount shall be equal to insert
		formula for determining the amount. Upon
		payment (i) of the amount of principal so declared due and payable and (ii) of
		interest on any overdue principal and overdue interest all of the
		Company’s obligations in respect of the payment of the principal of and
		interest, if any, on the Securities of this series shall
		terminate.]

	  

	 The
		Indenture permits, with certain exceptions as therein provided, the amendment
		thereof and the modification of the rights and obligations of the Company and
		the rights of the Holders of the Securities of each series to be affected under
		the Indenture at any time by the Company and the Trustee with the consent of
		the Holders of a majority in principal amount of the Securities at the time
		Outstanding of each series to be affected. The Indenture also contains
		provisions permitting the Holders of specified percentages in principal amount
		of the Securities of each series at the time Outstanding, on behalf of the
		Holders of all Securities of such series, to waive compliance by the Company
		with certain provisions of the Indenture and certain past defaults under the
		Indenture and their consequences. Any such consent or waiver by the Holder of
		this Security shall be conclusive and binding upon such Holder and upon all
		future Holders of this Security and of any Security issued upon the
		registration of transfer hereof or in exchange herefor or in lieu hereof,
		whether or not notation of such consent or waiver is made upon this
		Security.

	  

	 As
		provided in and subject to the provisions of the Indenture, the Holder of this
		Security shall not have the right to institute any proceeding with respect to
		the Indenture or for the appointment of a receiver or trustee or for any other
		remedy thereunder, unless such Holder shall have previously given the Trustee
		written notice of a continuing Event of Default with respect to the Securities
		of this series, the Holders of not less than 25% in principal amount of the
		Securities of this series at the time Outstanding shall have made written
		request to the Trustee to institute proceedings in respect of such Event of
		Default as Trustee and offered the Trustee reasonable indemnity and the Trustee
		shall not have received from the Holders of a majority in principal amount of
		Securities of this series at the time Outstanding a direction inconsistent with
		

	 
		20
	 

	 

	 

	  

	 such
		request, and shall have failed to institute any such proceeding, for 60 days
		after receipt of such notice, request and offer of indemnity. The foregoing
		shall not apply to any suit instituted by the Holder of this Security for the
		enforcement of any payment of principal hereof or any premium or interest
		hereon on or after the respective due dates expressed herein.

	  

	 No
		reference herein to the Indenture and no provision of this Security or of the
		Indenture shall alter or impair the obligation of the Company, which is
		absolute and unconditional, to pay the principal of (and premium, if any) and
		interest on this Security at the times, place and rate, and in the coin or
		currency, herein prescribed or to convert this Security as provided in the
		Indenture.

	  

	 As
		provided in the Indenture and subject to certain limitations therein set forth,
		the transfer of this Security is registerable in the Security Register, upon
		surrender of this Security for registration of transfer at the office or agency
		of the Company in any place where the principal of and any premium and interest
		on this Security are payable, duly endorsed by, or accompanied by a written
		instrument of transfer in form satisfactory to the Company and the Security
		Registrar duly executed by, the Holder hereof or his attorney duly authorized
		in writing, and thereupon one or more new Securities of this series and of like
		tenor, of authorized denominations and for the same aggregate principal amount,
		will be issued to the designated transferee or transferees.

	  

	 The
		Securities of this series are issuable only in registered form without coupons
		in denominations of $1,000 and any integral multiple thereof. As provided in
		the Indenture and subject to certain limitations therein set forth, Securities
		of this series are exchangeable for a like aggregate principal amount of
		Securities of this series and of like tenor of a different authorized
		denomination, as requested by the Holder surrendering the same.

	  

	 No
		service charge shall be made for any such registration of transfer or exchange,
		but the Company or the Security Registrar may require payment of a sum
		sufficient to cover any tax or other governmental charge payable in connection
		therewith.

	  

	 Prior to
		due presentment of this Security for registration of transfer, the Company, the
		Trustee and any agent of the Company or the Trustee may treat the Person in
		whose name this Security is registered as the owner hereof for all purposes,
		whether or not this Security be overdue, and neither the Company, the Trustee
		nor any such agent shall be affected by notice to the contrary.

	  

	 All
		terms used in this Security which are defined in the Indenture shall have the
		meanings assigned to them in the Indenture.

	  

	 [If
		applicable, insert —

	  

	 [FORM OF
		CONVERSION NOTICE]

	  

	 To: PRIMUS
		GUARANTY, LTD.

	  

	 The
		undersigned owner of this Security hereby irrevocably exercises the option to
		convert this Security, or portion hereof (which is $1,000 or an integral
		multiple thereof) below 

	 
		21
	 

	 

	 

	  

	 designated,
		into Common Shares of Primus Guaranty, Ltd., in accordance with the terms of
		the Indenture referred to in this Security, and directs that the shares
		issuable and deliverable upon the conversion, together with any check in
		payment for fractional shares and any Securities, representing any unconverted
		principal amount hereof, be issued and delivered to the registered holder
		hereof unless a different name has been indicated below. If shares are to be
		issued in the name of a person other than the undersigned, the undersigned will
		pay all transfer taxes payable with respect thereto. Any amount required to be
		paid by the undersigned on account of interest accompanies this
		Security.

	  

	 
			

				Dated:

					

				 
 
	 	 
	

				Fill in
				  for registration of Common Shares
 	

				 
 
	

				and
				  Securities if to be issued otherwise
 	

				 
 
	

				than to
				  the registered holder.
 	

				 
 
	

				 
 	

				Principal
				  Amount to be
 
	

				 
 	

				converted
				  (in an integral
 
	

				 
 	

				multiple
				  of $1,000, if
 
	

				 
 	

				less
				  than all):
 
	

				_______________________________

					

				$

				
	

				Name

					

				 
 
	

				_______________________________

					

				 
 
	

				Address

					

				 
 
	

				_______________________________

					

				_____________________________________

				
	

				(Please
				  print name and
 	

				Signature

				
	

				address,
				  including zip code
 	

				 
 
	

				number)

					

				 
 
	

				 
 	

				 
 
	

				 
 	

				 
 
	

				SOCIAL
				  SECURITY OR OTHER
 	

				 
 
	

				TAXPAYER
				  IDENTIFYING
 	

				[SIGNATURE
				  GUARANTEED —
 
	

				NUMBER

					

				required
				  only if
 
	

				 
 	

				Common
				  Shares and Securities are to be
 
	

				 
 	

				issued
				  and delivered to other than registered
 
	

				 
 	

				holder]

				
	

				[____________________________]]
 	

				 

				

 

	  

	 
		Section
		  2.04 Form
		  of Legend for Global Securities.

		

	  

	 Unless
		otherwise specified as contemplated by Section 3.01 for the Securities
		evidenced thereby, every Global Security authenticated and delivered hereunder
		shall bear a legend in substantially the following form:

	  

	 This
		Security is a Global Security within the meaning of the Indenture hereinafter
		referred to and is registered in the name of a Depositary or a nominee thereof.
		This Security may not be transferred to, or registered or exchanged for
		Securities registered in the name of, any 

	 
		22
	 

	 

	 

	  

	 Person
		other than the Depositary or a nominee thereof and no such transfer may be
		registered, except in the limited circumstances described in the Indenture.
		Every Security authenticated and delivered upon registration of transfer of, or
		in exchange for or in lieu of, this Security shall be a Global Security subject
		to the foregoing, except in such limited circumstances.

	  

	 
		Section
		  2.05 Form
		  of Trustee’s Certificate of Authentication.

		

	  

	 The
		Trustee’s certificates of authentication shall be in substantially the
		following form:

	  

	 This is
		one of the Securities of the series designated therein referred to in the
		within-mentioned Indenture.

	  

	 
			 	 	 
	 	
				DEUTSCHE
				  BANK TRUST COMPANY 

				AMERICAS,
				  as Trustee
 
	 
 	 
 	 
 
	 	By:      
				 	 
	 

				 
 	
				

				Authorized
				  Signatory
 

			 	 	 
	 	Dated: 	 
	 	
				

				

 

	  

	 ARTICLE
		III  

	  

	 THE
		SECURITIES

	  

	 
		Section
		  3.01 Amount
		  Unlimited; Issuable in Series.

		

	  

	 The
		aggregate principal amount of Securities which may be authenticated and
		delivered under this Indenture is unlimited.

	  

	 The
		Securities may be issued in one or more series. There shall be established in
		or pursuant to a Board Resolution and, subject to Section 3.03, set forth, or
		determined in the manner provided, in an Officers’ Certificate, or
		established in one or more indentures supplemental hereto, prior to the
		issuance of Securities of any series,

	  

	 
		(1) the
		  title of the Securities of the series, including CUSIP Numbers (which shall
		  distinguish the Securities of the series from Securities of any other
		  series);
 

	  

	 
		(2)
		  any limit
		  upon the aggregate principal amount of the Securities of the series which may
		  be authenticated and delivered under this Indenture (except for Securities
		  authenticated and delivered upon registration of transfer of, or in exchange
		  for, or in lieu of, other Securities of the series pursuant to Section 3.04,
		  3.05, 3.06, 9.06 or 11.07 and except for any Securities which, pursuant to
		  Section 3.03, are deemed never to have been authenticated and delivered
		  hereunder);
 

	 
		23
	 

	 

	 

	  

	 
		(3)
		  the
		  Person to whom any interest on a Security of the series shall be payable, if
		  other than the Person in whose name that Security (or one or more Predecessor
		  Securities) is registered at the close of business on the Regular Record Date
		  for such interest;
 

	  

	 
		(4)
		  the date
		  or dates on which the principal of the Securities of the series is
		  payable;
 

	  

	 
		(5)
		  the rate
		  or rates at which the Securities of the series shall bear interest, if any, the
		  date or dates from which such interest shall accrue, the Interest Payment Dates
		  on which any such interest shall be payable and the Regular Record Date for any
		  interest payable on any Interest Payment Date;
 

	  

	 
		(6)
		  the
		  place or places where the principal of and any premium and interest on
		  Securities of the series shall be payable;
 

	  

	 
		(7)
		  the
		  period or periods within which, the price or prices at which and the terms and
		  conditions upon which Securities of the series may be redeemed, in whole or in
		  part, at the option of the Company;

		 
 

	 (8) the
		obligation, if any, of the Company to redeem or purchase Securities of the
		series pursuant to any sinking fund or analogous provisions or at the option of
		a Holder thereof and the period or periods within which, the price or prices at
		which and the terms and conditions upon which Securities of the series shall be
		redeemed or purchased, in whole or in part, pursuant to such
		obligation;

	  

	 
		(9) if other
		  than denominations of $1,000 and any integral multiple thereof, the
		  denominations in which Securities of the series shall be issuable;

		

	  

	 
		(10) the
		  currency, currencies or currency units in which payment of the principal of and
		  any premium and interest on any Securities of the series shall be payable if
		  other than the currency of the United States of America and the manner of
		  determining the equivalent thereof in the currency of the United States of
		  America for purposes of the definition of “Outstanding” in Section
		  1.01;
 

	  

	 
		(11) if the
		  amount of payments of principal of or any premium or interest on any Securities
		  of the series may be determined with reference to an index, the manner in which
		  such amounts shall be determined;
 

	  

	 
		(12) if the
		  principal of or any premium or interest on any Securities of the series is to
		  be payable, at the election of the Company or a Holder thereof, in one or more
		  currencies or currency units other than that or those in which the Securities
		  are stated to be payable, the currency, currencies or currency units in which
		  payment of the principal of and any premium and interest on Securities of such
		  series as to which such election is made shall be payable, and the periods
		  within which and the terms and conditions upon which such election is to be
		  made;
 

	 
		24
	 

	 

	 

	  

	 
		(13) if other
		  than the principal amount thereof, the portion of the principal amount of
		  Securities of the series which shall be payable upon declaration of
		  acceleration of the Maturity thereof pursuant to Section 5.02;

		

	  

	 
		
		  (14)
			 if
			 applicable, that the Securities of the series shall be subject to either or
			 both of Defeasance or Covenant Defeasance as provided in Article XIII;
			 provided that no
			 series of Securities that is convertible into Common Shares as provided in
			 Article XIV or convertible into or exchangeable for any other securities
			 pursuant to Section 3.01(17) shall be subject to Defeasance pursuant to Section
			 13.02; 
 
 

	  

	 
		(15)
		  if and
		  as applicable, that the Securities of the series shall be issuable in whole or
		  in part in the form of one or more Global Securities and, in such case, the
		  Depositary or Depositaries for such Global Security or Global Securities and
		  any circumstances other than those set forth in Section 3.05 in which any such
		  Global Security may be transferred to, and registered and exchanged for
		  Securities registered in the name of, a Person other than the Depositary for
		  such Global Security or a nominee thereof and in which any such transfer may be
		  registered;
 

	  

	 
		(16) the
		  terms and conditions, if any, pursuant to which the Securities are convertible
		  into Common Shares of the Company pursuant to Article XIV, and any variation
		  thereof;
 

	  

	 
		(17) the
		  terms and conditions, if any, pursuant to which the Securities are convertible
		  into or exchangeable for any other securities;
 

	  

	 
		(18) any
		  addition to or change in the covenants set forth in Article X which applies to
		  Securities of the series; and

		 
 

	 (19) any
		other terms of the series (which terms shall not be inconsistent with the
		provisions of this Indenture, except as permitted by Section
		9.01(5)).

	  

	 All
		Securities of any one series shall be substantially identical except as to
		denomination and except as may otherwise be provided in or pursuant to the
		Board Resolution referred to above and (subject to Section 3.03) set forth, or
		determined in the manner provided, in the Officers’ Certificate referred
		to above or in any such indenture supplemental hereto.

	  

	 If any
		of the terms of the series are established by action taken pursuant to a Board
		Resolution, a copy of an appropriate record of such action shall be certified
		by the Secretary or an Assistant Secretary of the Company and delivered to the
		Trustee at or prior to the delivery of the Officers’ Certificate setting
		forth the terms of the series.

	  

	 The
		Company may, from time to time, by adoption of a Board Resolution and subject
		to compliance with any other applicable provisions of this Indenture, without
		the consent of the Holders, create and issue pursuant to this Indenture
		additional securities of any series of Securities (“Add
		On Securities”)
		having terms and conditions identical to those of such series of Outstanding
		Securities, except that such Add On Securities:

	 
		25
	 

	 

	 

	 (i) may have
		a different issue date from such series of Outstanding Securities;

	 

	 (ii) may have
		a different amount of interest payable on the first Interest Payment Date after
		issuance than is payable on such series of Outstanding Securities;
		and

	 

	 (iii)  may
		have terms specified in such Board Resolution for such Add On Securities making
		appropriate adjustments to this Article III applicable to such Add On
		Securities in order to conform to and ensure compliance with the Securities Act
		(or applicable securities laws) which are not adverse in any material respect
		to the Holder of any Outstanding Securities (other than such Add On Securities)
		and which shall not affect the rights or duties of the Trustee.

	 

	 
		Section
		  3.02 Denominations.

		

	  

	 The
		Securities of each series shall be issuable only in registered form without
		coupons in such denominations as shall be specified as contemplated by Section
		3.01. In the absence of any such specified denomination with respect to the
		Securities of any series, the Securities of such series shall be issuable in
		denominations of $1,000 and any integral multiple thereof.

	  

	 
		Section
		  3.03 Execution,
		  Authentication, Delivery and Dating.

		

	  

	 The
		Securities shall be executed on behalf of the Company by its Chairman of the
		Board, its Vice Chairman of the Board, its President, one of its Vice
		Presidents or its Treasurer under its corporate seal reproduced thereon
		attested by its Secretary or one of its Assistant Secretaries or by its Chief
		Financial Officer. The signature of any of these officers on the Securities may
		be manual or facsimile.

	  

	 Securities
		bearing the manual or facsimile signatures of individuals who were at any time
		the proper officers of the Company shall bind the Company, notwithstanding that
		such individuals or any of them have ceased to hold such offices prior to the
		authentication and delivery of such Securities or did not hold such offices at
		the date of such Securities.

	  

	 At any
		time and from time to time after the execution and delivery of this Indenture,
		the Company may deliver Securities of any Series executed by the Company to the
		Trustee for authentication, together with a Company Order for the
		authentication and delivery of such Securities, and the Trustee in accordance
		with the Company Order shall authenticate and deliver such Securities. If the
		form or terms of the Securities of the series have been established in or
		pursuant to one or more Board Resolutions as permitted by Sections 2.01 and
		3.01, in authenticating such Securities, and accepting the additional
		responsibilities under this Indenture in relation to such Securities, the
		Trustee shall be entitled to receive, and (subject to Section 6.01) shall be
		fully protected in relying upon, an Opinion of Counsel stating,

	  

	 (1)  if the
		form of such Securities has been established by or pursuant to Board Resolution
		as permitted by Section 2.01, that such form has been established in conformity
		with the provisions of this Indenture;

	 
		26
	 

	 

	 

	  

	 (2)  if the
		terms of such Securities have been established by or pursuant to Board
		Resolution as permitted by Section 3.01, that such terms have been established
		in conformity with the provisions of this Indenture; and

	  

	 (3)  that
		such Securities, when authenticated and delivered by the Trustee and issued by
		the Company in the manner and subject to any conditions specified in such
		Opinion of Counsel, will constitute valid and legally binding obligations of
		the Company enforceable in accordance with their terms, subject to bankruptcy,
		insolvency, fraudulent transfer, reorganization, moratorium and similar laws of
		general applicability relating to or affecting creditors’ rights and to
		general equity principles.

	  

	 If such
		form or terms have been so established, the Trustee shall not be required to
		authenticate such Securities if the issue of such Securities pursuant to this
		Indenture will affect the Trustee’s own rights, duties or immunities under
		the Securities and this Indenture or otherwise in a manner which is not
		reasonably acceptable to the Trustee.

	  

	 Notwithstanding
		the provisions of Section 3.01 and of the preceding paragraph, if all
		Securities of a series are not to be originally issued at one time, it shall
		not be necessary to deliver the Officers’ Certificate otherwise required
		pursuant to Section 3.01 or the Company Order and Opinion of Counsel otherwise
		required pursuant to such preceding paragraph at or prior to the time of
		authentication of each Security of such series if such documents are delivered
		at or prior to the authentication upon original issuance of the first Security
		of such series to be issued.

	  

	 Each
		Security shall be dated the date of its authentication.

	  

	 No
		Security shall be entitled to any benefit under this Indenture or be valid or
		obligatory for any purpose unless there appears on such Security a certificate
		of authentication substantially in the form provided for herein executed by the
		Trustee by manual signature, and such certificate upon any Security shall be
		conclusive evidence, and the only evidence, that such Security has been duly
		authenticated and delivered hereunder. Notwithstanding the foregoing, if any
		Security shall have been authenticated and delivered hereunder but never issued
		and sold by the Company, and the Company shall deliver such Security to the
		Trustee for cancellation as provided in Section 3.09, for all purposes of this
		Indenture such Security shall be deemed never to have been authenticated and
		delivered hereunder and shall never be entitled to the benefits of this
		Indenture.

	  

	 Section
		3.04  Temporary
		Securities.

	  

	 Pending
		the preparation of definitive Securities of any series, the Company may
		execute, and upon Company Order the Trustee shall authenticate and deliver,
		temporary Securities which are printed, lithographed, typewritten, mimeographed
		or otherwise produced, in any authorized denomination, substantially of the
		tenor of the definitive Securities in lieu of which they are issued and with
		such appropriate insertions, omissions, substitutions and other variations as
		the officers executing such Securities may determine, as evidenced by their
		execution of such Securities.

	 
		27
	 

	 

	 

	  

	 If
		temporary Securities of any series are issued, the Company will cause
		definitive Securities of that series to be prepared without unreasonable delay.
		After the preparation of definitive Securities of such series, the temporary
		Securities of such series shall be exchangeable for definitive Securities of
		such series upon surrender of the temporary Securities of such series at the
		office or agency of the Company in a Place of Payment for that series, without
		charge to the Holder. Upon surrender for cancellation of any one or more
		temporary Securities of any series the Company shall execute and the Trustee
		shall authenticate and deliver in exchange therefor one or more definitive
		Securities of the same series, of any authorized denominations and of a like
		aggregate principal amount and tenor. Until so exchanged the temporary
		Securities of any series shall in all respects be entitled to the same benefits
		under this Indenture as definitive Securities of such series and
		tenor.

	  

	 Section
		3.05  Registration,
		Registration of Transfer and Exchange.

	  

	 The
		Company shall cause to be kept at the Corporate Trust Office of the Trustee a
		register (the register maintained in such office and in any other office or
		agency of the Company in a Place of Payment being herein sometimes collectively
		referred to as the “Security
		Register”)
		in which, subject to such reasonable regulations as it may prescribe, the
		Company shall provide for the registration of Securities and of transfers of
		Securities. The Trustee is hereby appointed “Security
		Registrar”
		for the purpose of registering Securities and transfers of Securities as herein
		provided.

	  

	 Upon
		surrender for registration of transfer of any Security of any series at the
		office or agency in a Place of Payment for that series, the Company shall
		execute, and the Trustee shall authenticate and deliver, in the name of the
		designated transferee or transferees, one or more new Securities of the same
		series, of any authorized denominations and of a like aggregate principal
		amount and tenor.

	  

	 At the
		option of the Holder, Securities of any series may be exchanged for other
		Securities of the same series, of any authorized denominations and of a like
		aggregate principal amount and tenor, upon surrender of the Securities to be
		exchanged at such office or agency. Whenever any Securities are so surrendered
		for exchange, the Company shall execute, and the Trustee shall authenticate and
		deliver, the Securities which the Holder making the exchange is entitled to
		receive.

	  

	 All
		Securities issued upon any registration of transfer or exchange of Securities
		shall be the valid obligations of the Company, evidencing the same debt, and
		entitled to the same benefits under this Indenture, as the Securities
		surrendered upon such registration of transfer or exchange.

	  

	 Every
		Security presented or surrendered for registration of transfer or for exchange
		shall (if so required by the Company or the Trustee) be duly endorsed, or be
		accompanied by a written instrument of transfer in form satisfactory to the
		Company and the Security Registrar duly executed, by the Holder thereof or his
		attorney duly authorized in writing.

	 
		28
	 

	 

	 

	  

	 No
		service charge shall be made for any registration of transfer or exchange of
		Securities, but the Company or Security Registrar may require payment of a sum
		sufficient to cover any tax or other governmental charge that may be imposed in
		connection with any registration of transfer or exchange of Securities, other
		than exchanges pursuant to Section 3.04, 9.06 or 11.07 not involving any
		transfer.

	  

	 The
		Company shall not be required (1) to issue, register the transfer of or
		exchange Securities of any series during a period beginning at the opening of
		business 15 days before the day of the mailing of a notice of redemption of
		Securities of that series selected for redemption under Section 11.03 and
		ending at the close of business on the day of such mailing, or (2) to register
		the transfer of or exchange any Security so selected for redemption in whole or
		in part, except the unredeemed portion of any Security being redeemed in
		part.

	  

	 Notwithstanding
		any other provision in this Indenture, no Global Security may be transferred
		to, or registered or exchanged for Securities registered in the name of, any
		Person other than the Depositary for such Global Security or any nominee
		thereof, and no such transfer may be registered, unless (1) such Depositary (A)
		notifies the Company that it is unwilling or unable to continue as Depositary
		for such Global Security or (B) has ceased to be a clearing agency registered
		under the Exchange Act, (2) the Company executes and delivers to the Trustee a
		Company Order that such Global Security shall be so transferable, registrable
		and exchangeable, and such transfers shall be registrable, (3) there shall have
		occurred and be continuing an Event of Default with respect to the Securities
		evidenced by such Global Security or (4) there shall exist such other
		circumstances, if any, as have been specified for this purpose as contemplated
		by Section 3.01. Notwithstanding any other provision in this Indenture, a
		Global Security to which the restriction set forth in the preceding sentence
		shall have ceased to apply may be transferred only to, and may be registered
		and exchanged for Securities registered only in the name or names of, such
		Person or Persons as the Depositary for such Global Security shall have
		directed and no transfer thereof other than such a transfer may be
		registered.

	  

	 Every
		Security authenticated and delivered upon registration of transfer of, or in
		exchange for or in lieu of, a Global Security to which the restriction set
		forth in the first sentence of the preceding paragraph shall apply, whether
		pursuant to this Section, Section 3.04, 3.06, 9.06 or 11.07 or otherwise, shall
		be authenticated and delivered in the form of, and shall be, a Global
		Security.

	  

	 Section
		3.06  Mutilated,
		Destroyed, Lost and Stolen Securities.

	  

	 If any
		mutilated Security is surrendered to the Trustee, the Company shall execute and
		the Trustee shall authenticate and deliver in exchange therefor a new Security
		of the same series and of like tenor and principal amount and bearing a number
		not contemporaneously outstanding.

	  

	 If there
		shall be delivered to the Company and the Trustee (i) evidence to their
		satisfaction of the destruction, loss or theft of any Security and (ii) such
		security or indemnity as may be required by them to save each of them and any
		agent of either of them harmless, then, in the absence of notice to the Company
		or the Trustee that such Security has been acquired by a bona fide purchaser,
		the Company shall execute and the Trustee shall authenticate and deliver, in
		

	 
		29
	 

	 

	 

	  

	 lieu of
		any such destroyed, lost or stolen Security, a new Security of the same series
		and of like tenor and principal amount and bearing a number not
		contemporaneously outstanding.

	  

	 In case
		any such mutilated, destroyed, lost or stolen Security has become or is about
		to become due and payable, the Company in its discretion may, instead of
		issuing a new Security, pay such Security.

	  

	 Upon the
		issuance of any new Security under this Section, the Company may require the
		payment of a sum sufficient to cover any tax or other governmental charge that
		may be imposed in relation thereto and any other expenses (including the fees
		and expenses of the Trustee) connected therewith.

	  

	 Every
		new Security of any series issued pursuant to this Section in exchange for any
		mutilated Security or in lieu of any destroyed, lost or stolen Security shall
		constitute an original additional contractual obligation of the Company,
		whether or not the mutilated, destroyed, lost or stolen Security shall be at
		any time enforceable by anyone, and shall be entitled to all the benefits of
		this Indenture equally and proportionately with any and all other Securities of
		that series duly issued hereunder.

	  

	 The
		provisions of this Section are exclusive and shall preclude (to the extent
		lawful) all other rights and remedies with respect to the replacement or
		payment of mutilated, destroyed, lost or stolen Securities.

	  

	 Section
		3.07 Payment
		of Interest; Interest Rights Preserved.

	  

	 Except
		as otherwise provided as contemplated by Section 3.01 with respect to any
		series of Securities, interest on any Security which is payable, and is
		punctually paid or duly provided for, on any Interest Payment Date shall be
		paid to the Person in whose name that Security (or one or more Predecessor
		Securities) is registered at the close of business on the Regular Record Date
		for such interest.

	  

	 Any
		interest on any Security of any series which is payable, but is not punctually
		paid or duly provided for, on any Interest Payment Date (herein called
		“Defaulted
		Interest”)
		shall forthwith cease to be payable to the Holder on the relevant Regular
		Record Date by virtue of having been such Holder, and such Defaulted Interest
		may be paid by the Company, at its election in each case, as provided in Clause
		(1) or (2) below:

	  

	 (1)  The
		Company may elect to make payment of any Defaulted Interest to the Persons in
		whose names the Securities of such series (or their respective Predecessor
		Securities) are registered at the close of business on a Special Record Date
		for the payment of such Defaulted Interest, which shall be fixed in the
		following manner. The Company shall notify the Trustee in writing of the amount
		of Defaulted Interest proposed to be paid on each Security of such series and
		the date of the proposed payment, and at the same time the Company shall
		deposit with the Trustee an amount of money equal to the aggregate amount
		proposed to be paid in respect of such Defaulted Interest or shall make
		arrangements satisfactory to the Trustee for such deposit prior to the date of
		the proposed payment, such money when deposited to be held in trust for the
		benefit of the Persons entitled to such Defaulted Interest as in this Clause
		provided. Thereupon the 

	 
		30
	 

	 

	 

	  

	 Trustee
		shall fix a Special Record Date for the payment of such Defaulted Interest
		which shall be not more than 15 days and not less than 10 days prior to the
		date of the proposed payment and not less than 10 days after the receipt by the
		Trustee of the notice of the proposed payment. The Trustee shall promptly
		notify the Company of such Special Record Date and, in the name and at the
		expense of the Company, shall cause notice of the proposed payment of such
		Defaulted Interest and the Special Record Date therefor to be mailed,
		first-class postage prepaid, to each Holder of Securities of such series at his
		address as it appears in the Security Register, not less than 10 days prior to
		such Special Record Date. Notice of the proposed payment of such Defaulted
		Interest and the Special Record Date therefor having been so mailed, such
		Defaulted Interest shall be paid to the Persons in whose names the Securities
		of such series (or their respective Predecessor Securities) are registered at
		the close of business on such Special Record Date and shall no longer be
		payable pursuant to the following Clause (2).

	  

	 (2)  The
		Company may make payment of any Defaulted Interest on the Securities of any
		series in any other lawful manner not inconsistent with the requirements of any
		securities exchange on which such Securities may be listed, and upon such
		notice as may be required by such exchange, if, after notice given by the
		Company to the Trustee of the proposed payment pursuant to this Clause, such
		manner of payment shall be deemed practicable by the Trustee.

	  

	 Subject
		to the foregoing provisions of this Section, each Security delivered under this
		Indenture upon registration of transfer of or in exchange for or in lieu of any
		other Security shall carry the rights to interest accrued and unpaid, and to
		accrue, which were carried by such other Security.

	  

	 Subject
		to the provisions of Section 14.02, in the case of any Security which is
		converted after any Regular Record Date and on or prior to the next succeeding
		Interest Payment Date, interest whose Stated Maturity is on such Interest
		Payment Date shall be payable on such Interest Payment Date notwithstanding
		such conversion, and such interest (whether or not punctually paid or duly
		provided for) shall be paid to the Person in whose name that Security (or one
		or more Predecessor Securities) is registered at the close of business on such
		Regular Record Date. Except as otherwise expressly provided in the immediately
		preceding sentence in the case of any Security which is converted, interest
		whose Stated Maturity is after the date of conversion of such Security, shall
		not be payable.

	  

	 Section
		3.08 Persons
		Deemed Owners.

	  

	 Prior to
		due presentment of a Security for registration of transfer, the Company, the
		Trustee and any agent of the Company or the Trustee may treat the Person in
		whose name such Security is registered as the owner of such Security for the
		purpose of receiving payment of principal of and any premium and (subject to
		Section 3.07) any interest on such Security and for all other purposes
		whatsoever, whether or not such Security be overdue, and neither the Company,
		the Trustee nor any agent of the Company or the Trustee shall be affected by
		notice to the contrary.

	 
		31
	 

	 

	 

	  

	 Section
		3.09 Cancellation.

	  

	 All
		Securities surrendered for payment, redemption, registration of transfer or
		exchange or conversion or for credit against any sinking fund payment shall, if
		surrendered to any Person other than the Trustee, be delivered to the Trustee
		and shall be promptly cancelled by it. The Company may at any time deliver to
		the Trustee for cancellation any Securities previously authenticated and
		delivered hereunder which the Company may have acquired in any manner
		whatsoever, and may deliver to the Trustee (or to any other Person for delivery
		to the Trustee) for cancellation any Securities previously authenticated
		hereunder which the Company has not issued and sold, and all Securities so
		delivered shall be promptly cancelled by the Trustee. No Securities shall be
		authenticated in lieu of or in exchange for any Securities cancelled as
		provided in this Section, except as expressly permitted by this Indenture. All
		cancelled Securities held by the Trustee shall be disposed of by the Trustee in
		its customary manner.

	  

	 Section
		3.10 Computation
		of Interest.

	  

	 Except
		as otherwise specified as contemplated by Section 3.01 for Securities of any
		series, interest on the Securities of each series shall be computed on the
		basis of a 360-day year of twelve 30-day months.

	  

	 Section
		3.11 CUSIP
		Numbers.

	  

	 The
		Company in issuing the Securities may use “CUSIP” numbers (if then
		generally in use), and, if so, the Trustee shall use “CUSIP” numbers
		in notices of redemption as a convenience to Holders; provided that
		any such notice may state that no representation is made as to the correctness
		of such numbers either as printed on the Securities or as contained in any
		notice of a redemption and that reliance may be placed only on the other
		identification numbers printed on the Securities, and any such redemption shall
		not be affected by any defect in or omission of such numbers. The Company will
		promptly notify the Trustee of any changes in the “CUSIP”
		numbers.

	  

	  

	 ARTICLE
		IV

	  

	 SATISFACTION
		AND DISCHARGE

	  

	 Section
		4.01 Satisfaction
		and Discharge of Indenture.

	  

	 This
		Indenture shall upon Company Request cease to be of further effect (except as
		to any surviving rights of conversion or of registration of transfer or
		exchange of Securities herein expressly provided for), and the Trustee, at the
		expense of the Company, shall execute proper instruments acknowledging
		satisfaction and discharge of this Indenture, when

	  

	 (1)  either

	  

	 (A) all
		Securities theretofore authenticated and delivered (other than (i) Securities
		which have been destroyed, lost or stolen and which have been 

	 
		32
	 

	 

	 

	  

	 replaced
		or paid as provided in Section 3.06 and (ii) Securities for whose payment money
		has theretofore been deposited in trust or segregated and held in trust by the
		Company and thereafter repaid to the Company or discharged from such trust)
		have been delivered to the Trustee for cancellation; or

	 

	 (B) all such
		Securities not theretofore delivered to the Trustee for
		cancellation

	 

	 (i) have
		become due and payable, or

	 

	 (ii) will
		become due and payable at their Stated Maturity within one year,
		or

	 

	 (iii) are to
		be called for redemption within one year under arrangements satisfactory to the
		Trustee for the giving of notice of redemption by the Trustee in the name, and
		at the expense, of the Company,

	 

	 and the
		Company, in the case of (i), (ii) or (iii) above, has deposited or caused to be
		deposited with the Trustee as trust funds in trust for the purpose an amount
		sufficient to pay and discharge the entire indebtedness on such Securities not
		theretofore delivered to the Trustee for cancellation, for principal and any
		premium and interest to the date of such deposit (in the case of Securities
		which have become due and payable) or to the Stated Maturity or Redemption
		Date, as the case may be;

	 

	 (2)  the
		Company has paid or caused to be paid all other sums payable hereunder by the
		Company; and

	  

	 (3)  the
		Company has delivered to the Trustee an Officers’ Certificate and an
		Opinion of Counsel, each stating that all conditions precedent herein provided
		for relating to the satisfaction and discharge of this Indenture have been
		complied with.

	  

	 Notwithstanding
		the satisfaction and discharge of this Indenture, the obligations of the
		Company to the Trustee under Section 6.07, and, if money shall have been
		deposited with the Trustee pursuant to subclause (B) of Clause (1) of this
		Section, the obligations of the Trustee under Section 4.02 shall survive such
		satisfaction and discharge.

	  

	 Section
		4.02 Application
		of Trust Money.

	  

	 All
		money deposited with the Trustee pursuant to Section 4.01 shall be held in
		trust and applied by it, in accordance with the provisions of the Securities
		and this Indenture, to the payment, either directly or through any Paying Agent
		(including the Company acting as its own Paying Agent) as the Trustee may
		determine, to the Persons entitled thereto, of the principal and any premium
		and interest for whose payment such money has been deposited with the
		Trustee.

	 
		33
	 

	 

	 

	  

	 ARTICLE V

	  

	 REMEDIES

	  

	 Section
		5.01 Events
		of Default.

	  

	 “Event
		of Default”,
		wherever used herein with respect to Securities of any series, means any one of
		the following events (whatever the reason for such Event of Default and whether
		it shall be voluntary or involuntary or be effected by operation of law or
		pursuant to any judgment, decree or order of any court or any order, rule or
		regulation of any administrative or governmental body):

	  

	 (1)  default
		in the payment of any interest upon any Security of that series when it becomes
		due and payable, and the continuance of such default for a period of
		30 days; or

	  

	 (2)  default
		in the payment of the principal of (or premium, if any, on) any Security of
		that series at its Maturity; or

	  

	 (3)  default
		in the deposit of any sinking fund payment, when and as due by the terms of a
		Security of that series, and the continuance of such default for a period of 30
		days; or

	  

	 (4)  default
		in the performance, or breach, of any covenant or warranty of the Company in
		this Indenture (other than a covenant or warranty a default in whose
		performance or whose breach is elsewhere in this Section specifically dealt
		with or which has expressly been included in this Indenture solely for the
		benefit of series of Securities other than that series), and continuance of
		such default or breach for a period of 90 days after there has been given, by
		registered or certified mail, to the Company by the Trustee or to the Company
		and the Trustee by the Holders of at least 25% in principal amount of the
		Outstanding Securities of that series a written notice specifying such default
		or breach and requiring it to be remedied and stating that such notice is a
		“Notice of Default” hereunder; or

	  

	 (5)  the
		Company shall fail to pay any Indebtedness in excess of $10,000,000 owing by
		the Company, or any interest or premium thereon, when due (whether by scheduled
		maturity, required prepayment, acceleration, demand or otherwise), and such
		failure shall continue after the applicable grace period, if any, specified in
		the agreement or instrument relating to such Indebtedness, or the Company shall
		fail to perform any term, covenant or agreement on its part to be performed
		under any agreement or instrument evidencing or securing or relating to any
		such Indebtedness, if the effect of such failure in either case is that the
		maturity of such Indebtedness is duly accelerated, without such Indebtedness
		having been discharged or such acceleration having been rescinded or annulled,
		in each such case, within a period of 10 days after there shall have been
		given, by registered or certified mail, to the Company by the Trustee or to the
		Company and the Trustee by Holders of at least 25% in principal amount of the
		Outstanding Securities of that series, a written notice specifying such default
		and 

	 
		34
	 

	 

	 

	  

	 requiring
		the Company to cause such Indebtedness to be discharged or cause such
		acceleration to be rescinded or annulled, as the case may be, and stating that
		such notice is a “Notice of Default” hereunder (the Trustee shall not
		be deemed to have knowledge of a default under this subsection (5) unless it
		shall have actual knowledge thereof); provided,
		however, that,
		subject to the provisions of Sections 6.01 and 6.05, the Trustee shall not be
		deemed to have knowledge of such failure to pay unless either (A) a Responsible
		Officer of the Trustee shall have actual knowledge of such failure to pay or
		(B) the Trustee shall have received written notice thereof from the Company,
		from any Holder, from the holder of any such Indebtedness or from the trustee
		thereunder; or

	  

	 (6)  the
		entry by a court having jurisdiction in the premises of (A) a decree or order
		for relief in respect of the Company or any Material Subsidiary in an
		involuntary case or proceeding under any applicable Federal or State
		bankruptcy, insolvency, reorganization or other similar law or (B) a decree or
		order adjudging the Company or any Material Subsidiary as bankrupt or
		insolvent, or approving as properly filed a petition seeking reorganization,
		arrangement, adjustment or composition of or in respect of the Company or any
		Material Subsidiary under any applicable Federal or State law, or appointing a
		custodian, receiver, liquidator, assignee, trustee, sequestrator or other
		similar official of the Company or any Material Subsidiary or of any
		substantial part of their respective properties, or ordering the winding up or
		liquidation of their respective affairs, and the continuance of any such decree
		or order for relief or any such other decree or order unstayed and in effect
		for a period of 60 consecutive days; or

	  

	 (7)  the
		commencement by the Company or any Material Subsidiary of a voluntary case or
		proceeding under any applicable Federal or State bankruptcy, insolvency,
		reorganization or other similar law or of any other case or proceeding to be
		adjudicated as bankrupt or insolvent, or the consent by the Company or any
		Material Subsidiary to the entry of a decree or order for relief in respect of
		the Company or any Material Subsidiary in an involuntary case or proceeding
		under any applicable Federal or State bankruptcy, insolvency, reorganization or
		other similar law or to the commencement of any bankruptcy or insolvency case
		or proceeding against the Company or any Material Subsidiary, or the filing by
		the Company or any Material Subsidiary of a petition or answer or consent
		seeking reorganization or relief under any applicable Federal or State law, or
		the consent by the Company or any Material Subsidiary to the filing of such
		petition or to the appointment of or taking possession by a custodian,
		receiver, liquidator, assignee, trustee, sequestrator or other similar official
		of the Company or any Material Subsidiary or of any substantial part of their
		respective properties, or the making by the Company or any Material Subsidiary
		of an assignment for the benefit of creditors, or the admission by the Company
		or any Material Subsidiary in writing of the Company’s or any Material
		Subsidiary’s inability to pay the Company’s or any Material
		Subsidiary’s, as applicable, debts generally as they become due, or the
		taking of corporate action by the Company or any Material Subsidiary in
		furtherance of any such action; or

	  

	 (8)  any
		other Event of Default provided with respect to Securities of that
		series.

	 
		35
	 

	 

	 

	  

	 Section
		5.02  Acceleration
		of Maturity; Rescission and Annulment.

	  

	 If an
		Event of Default with respect to Securities of any series at the time
		Outstanding occurs and is continuing, then in every such case the Trustee or
		the Holders of not less than 25% in principal amount of the Outstanding
		Securities of that series may declare the entire principal amount, together
		with all accrued and unpaid interest and premium, if any (or, if any of the
		Securities of that series are Original Issue Discount Securities, such portion
		of the principal amount of such Securities as may be specified in the terms
		thereof), of all of the Securities of that series to be due and payable
		immediately, by a notice in writing to the Company (and to the Trustee if given
		by Holders), and upon any such declaration such principal amount (or specified
		amount) shall become immediately due and payable. Notwithstanding the
		foregoing, if an Event of Default with respect to Securities of any series at
		the time Outstanding occurs and is continuing under Section 5.01(6) or Section
		5.01(7), then in every such case the entire principal amount, together with all
		accrued and unpaid interest and premium, if any (or, if any of the Securities
		of that series are Original Issue Discount Securities, such portion of the
		principal amount of such Securities as may be specified in the terms thereof),
		of all of the Securities of that series shall be due and payable
		immediately.

	  

	 At any
		time after such a declaration of acceleration with respect to Securities of any
		series has been made and before a judgment or decree for payment of the money
		due has been obtained by the Trustee as hereinafter in this Article provided,
		the Holders of a majority in principal amount of the Outstanding Securities of
		that series, by written notice to the Company and the Trustee, may rescind and
		annul such declaration and its consequences if 

	  

	 (1)  the
		Company has paid or deposited with the Trustee a sum sufficient to
		pay

	  

	 (A) all
		overdue interest on all Securities of that series,

	 

	 (B) the
		principal of (and premium, if any, on) any Securities of that series which have
		become due otherwise than by such declaration of acceleration and any interest
		thereon at the rate or rates prescribed therefor in such
		Securities,

	 

	 (C) to the
		extent that payment of such interest is lawful, interest upon overdue interest
		at the rate or rates prescribed therefor in such Securities, and

	 

	 (D) all sums
		paid or advanced by the Trustee hereunder and the reasonable compensation,
		expenses, disbursements and advances of the Trustee, its agents and
		counsel;

	 

	 and

	 

	 (2)  all
		Events of Default with respect to Securities of that series, other than the
		non-payment of the principal of Securities of that series which have become due
		solely by such declaration of acceleration, have been cured or waived as
		provided in Section 5.13.

	 
		36
	 

	 

	 

	  

	 No such
		rescission shall affect any subsequent default or impair any right consequent
		thereon.

	  

	 Section
		5.03  Collection
		of Indebtedness and Suits for Enforcement by Trustee.

	  

	 The
		Company covenants that if:

	  

	 (1) default
		is made in the payment of any interest on any Security when such interest
		becomes due and payable and such default continues for a period of 30 days,
		or

	  

	 (2) default
		is made in the payment of the principal of (or premium, if any, on) any
		Security at the Maturity thereof,

	  

	 the
		Company will, upon demand of the Trustee, pay to it, for the benefit of the
		Holders of such Securities, the whole amount then due and payable on such
		Securities for principal and any premium and interest and, to the extent that
		payment of such interest shall be legally enforceable, interest on any overdue
		principal and premium and on any overdue interest, at the rate or rates
		prescribed therefor in such Securities, and, in addition thereto, such further
		amount as shall be sufficient to cover the costs and expenses of collection,
		including the reasonable compensation, expenses, disbursements and advances of
		the Trustee, its agents and counsel.

	  

	 If an
		Event of Default with respect to Securities of any series occurs and is
		continuing, the Trustee may in its discretion proceed to protect and enforce
		its rights and the rights of the Holders of Securities of such series by such
		appropriate judicial proceedings as the Trustee shall deem necessary to protect
		and enforce any such rights, whether for the specific enforcement of any
		covenant or agreement in this Indenture or in aid of the exercise of any power
		granted herein, or to enforce any other proper remedy.

	  

	 Section
		5.04  Trustee
		May File Proofs of Claim.

	  

	 In case
		of any judicial proceeding relative to the Company (or any other obligor upon
		the Securities), its property or its creditors, the Trustee shall be entitled
		and empowered, by intervention in such proceeding or otherwise, to take any and
		all actions authorized under the Trust Indenture Act in order to have claims of
		the Holders and the Trustee allowed in any such proceeding. In particular, the
		Trustee shall be authorized to collect and receive any moneys or other property
		payable or deliverable on any such claims and to distribute the same; and any
		custodian, receiver, assignee, trustee, liquidator, sequestrator or other
		similar official in any such judicial proceeding is hereby authorized by each
		Holder to make such payments to the Trustee and, in the event that the Trustee
		shall consent to the making of such payments directly to the Holders, to pay to
		the Trustee any amount due it for the reasonable compensation, expenses,
		disbursements and advances of the Trustee, its agents and counsel, and any
		other amounts due the Trustee under Section 6.07.

	  

	 No
		provision of this Indenture shall be deemed to authorize the Trustee to
		authorize or consent to or accept or adopt on behalf of any Holder any plan of
		reorganization, arrangement, adjustment or composition affecting the Securities
		or the rights of any Holder thereof or to authorize the Trustee to vote in
		respect of the claim of any Holder in any such proceeding; provided,
		however, that
		the Trustee may, on behalf of the Holders, vote for the

	 
		37
	 

	 

	 

	  

	 election
		of a trustee in bankruptcy or similar official and be a member of a
		creditors’ or other similar committee.

	  

	 Section
		5.05 Trustee
		May Enforce Claims Without Possession of Securities.

	  

	 All
		rights of action and claims under this Indenture or the Securities may be
		prosecuted and enforced by the Trustee without the possession of any of the
		Securities or the production thereof in any proceeding relating thereto, and
		any such proceeding instituted by the Trustee shall be brought in its own name
		as trustee of an express trust, and any recovery of judgment shall, after
		provision for the payment of the reasonable compensation, expenses,
		disbursements and advances of the Trustee, its agents and counsel, be for the
		ratable benefit of the Holders of the Securities in respect of which such
		judgment has been recovered.

	  

	 
		Section
		  5.06 Application
		  of Money Collected.

		

	  

	 Any
		money collected by the Trustee pursuant to this Article shall be applied in the
		following order, at the date or dates fixed by the Trustee and, in case of the
		distribution of such money on account of principal or any premium or interest,
		upon presentation of the Securities and the notation thereon of the payment if
		only partially paid and upon surrender thereof if fully paid:

	  

	 FIRST: To the
		payment of all amounts due the Trustee under Section 6.07; 

	 

	 SECOND: To the
		payment of the amounts then due and unpaid for principal of and any premium and
		interest on the Securities in respect of which or for the benefit of which such
		money has been collected, ratably, without preference or priority of any kind,
		according to the amounts due and payable on such Securities for principal and
		any premium and interest, respectively; and

	 

	 THIRD: To the
		Company.

	 

	 Section
		5.07 Limitation
		on Suits.

	  

	 No
		Holder of any Security of any series shall have any right to institute any
		proceeding, judicial or otherwise, with respect to this Indenture, or for the
		appointment of a receiver or trustee, or for any other remedy hereunder,
		unless

	  

	 (1)  such
		Holder has previously given written notice to the Trustee of a continuing Event
		of Default with respect to the Securities of that series;

	  

	 (2)  the
		Holders of not less than 25% in principal amount of the Outstanding Securities
		of that series shall have made written request to the Trustee to institute
		proceedings in respect of such Event of Default in its own name as Trustee
		hereunder;

	  

	 (3)  such
		Holder or Holders have offered to the Trustee reasonable indemnity satisfactory
		to it against the costs, expenses and liabilities to be incurred in compliance
		with such request;

	 
		38
	 

	 

	 

	  

	 (4)  the
		Trustee for 60 days after its receipt of such notice, request and offer of
		indemnity has failed to institute any such proceeding; and

	  

	 (5)  no
		direction inconsistent with such written request has been given to the Trustee
		during such 60-day period by the Holders of a majority in principal amount of
		the Outstanding Securities of that series;

	  

	 it being
		understood and intended that no one or more of such Holders shall have any
		right in any manner whatever by virtue of, or by availing of, any provision of
		this Indenture to affect, disturb or prejudice the rights of any other of such
		Holders, or to obtain or to seek to obtain priority or preference over any
		other of such Holders or to enforce any right under this Indenture, except in
		the manner herein provided and for the equal and ratable benefit of all of such
		Holders.

	  

	 Section
		5.08  Unconditional
		Right of Holders to Receive Principal, Premium and Interest and to
		Convert.

	  

	 Notwithstanding
		any other provision in this Indenture, the Holder of any Security shall have
		the right, which is absolute and unconditional, to receive payment of the
		principal of and any premium and (subject to Section 3.07) interest on such
		Security on the respective Stated Maturities expressed in such Security (or, in
		the case of redemption, on the Redemption Date) and to convert such Security in
		accordance with Article XIV and to institute suit for the enforcement of
		any such payment and right to convert, and such rights shall not be impaired
		without the consent of such Holder.

	  

	 Section
		5.09  Restoration
		of Rights and Remedies.

	  

	 If the
		Trustee or any Holder has instituted any proceeding to enforce any right or
		remedy under this Indenture and such proceeding has been discontinued or
		abandoned for any reason, or has been determined adversely to the Trustee or to
		such Holder, then and in every such case, subject to any determination in such
		proceeding, the Company, the Trustee and the Holders shall be restored
		severally and respectively to their former positions hereunder and thereafter
		all rights and remedies of the Trustee and the Holders shall continue as though
		no such proceeding had been instituted.

	  

	 Section
		5.10  Rights
		and Remedies Cumulative.

	  

	 Except
		as otherwise provided with respect to the replacement or payment of mutilated,
		destroyed, lost or stolen Securities in the last paragraph of Section 3.06, no
		right or remedy herein conferred upon or reserved to the Trustee or to the
		Holders is intended to be exclusive of any other right or remedy, and every
		right and remedy shall, to the extent permitted by law, be cumulative and in
		addition to every other right and remedy given hereunder or now or hereafter
		existing at law or in equity or otherwise. The assertion or employment of any
		right or remedy hereunder, or otherwise, shall not prevent the concurrent
		assertion or employment of any other appropriate right or remedy.

	 
		39
	 

	 

	 

	  

	 Section
		5.11 Delay
		or Omission Not Waiver.

	  

	 No delay
		or omission of the Trustee or of any Holder of any Securities to exercise any
		right or remedy accruing upon any Event of Default shall impair any such right
		or remedy or constitute a waiver of any such Event of Default or an
		acquiescence therein. Every right and remedy given by this Article or by law to
		the Trustee or to the Holders may be exercised from time to time, and as often
		as may be deemed expedient, by the Trustee or by the Holders, as the case may
		be.

	  

	 Section
		5.12  Control
		by Holders.

	  

	 The
		Holders of a majority in principal amount of the Outstanding Securities of any
		series shall have the right to direct the time, method and place of conducting
		any proceeding for any remedy available to the Trustee, or exercising any trust
		or power conferred on the Trustee, with respect to the Securities of such
		series; provided
		that

	  

	 
		(1)  such
		  direction shall not be in conflict with any rule of law or with this Indenture
		  or be unjustly prejudicial to any Holders not joining in such
		  direction,
 

	  

	 
		(2)  the
		  Trustee may take any other action deemed proper by the Trustee which is not
		  inconsistent with such direction, and
 

	  

	 
		(3)  subject
		  to the provisions of Section 6.01, the Trustee shall have the right to decline
		  to follow any such direction if the Trustee in good faith shall, by a
		  Responsible Officer or Officers of the Trustee, determine, and the Trustee
		  shall have received a legal opinion stating, that the proceedings so directed
		  would involve the Trustee in personal liability.
 

	  

	 
		Section
		  5.13 Waiver
		  of Past Defaults.

		

	  

	 The
		Holders of not less than a majority in principal amount of the Outstanding
		Securities of any series may on behalf of the Holders of all the Securities of
		such series waive any past default hereunder with respect to such series and
		its consequences, except a default

	  

	 
		(1)  in the
		  payment of the principal of or any premium or interest on any Security of such
		  series, or
 

	  

	 
		(2)  in
		  respect of a covenant or provision hereof which under Article IX cannot be
		  modified or amended without the consent of the Holder of each Outstanding
		  Security of such series affected.
 

	  

	 Upon any
		such waiver, such default shall cease to exist, and any Event of Default
		arising therefrom shall be deemed to have been cured, for every purpose of this
		Indenture; but no such waiver shall extend to any subsequent or other default
		or impair any right consequent thereon.

	 
		40
	 

	 

	 

	  

	 
		Section
		  5.14  Undertaking
		  for Costs.

		

	  

	 In any
		suit for the enforcement of any right or remedy under this Indenture, or in any
		suit against the Trustee for any action taken, suffered or omitted by it as
		Trustee, a court may require any party litigant in such suit to file an
		undertaking to pay the costs of such suit, and may assess costs against any
		such party litigant, in the manner and to the extent provided in the Trust
		Indenture Act; provided that
		neither this Section nor the Trust Indenture Act shall apply to any suit
		instituted by the Trustee, to any suit instituted by any Holders of the
		Securities, or group of Holders of the Securities, holding in the aggregate
		more than 10% of principal amount of the Outstanding Securities of any series,
		or to any suit instituted by any Holder of the Outstanding Securities for the
		enforcement of the payment of principal of or interest on any Outstanding
		Securities held by such Holder, on or after the respective due dates expressed
		in such Outstanding Securities; and provided,
		further, that
		neither this Section nor the Trust Indenture Act shall be deemed to authorize
		any court to require such an undertaking or to make such an assessment in any
		suit instituted by the Company or in any suit for the enforcement of the right
		to convert any Security in accordance with Article XIV.

	  

	 
		Section
		  5.15 Waiver
		  of Usury, Stay or Extension Laws.

		

	  

	 The
		Company covenants (to the extent that it may lawfully do so) that it will not
		at any time insist upon, or plead, or in any manner whatsoever claim or take
		the benefit or advantage of, any usury, stay or extension law wherever enacted,
		now or at any time hereafter in force, which may affect the covenants or the
		performance of this Indenture; and the Company (to the extent that it may
		lawfully do so) hereby expressly waives all benefit or advantage of any such
		law and covenants that it will not hinder, delay or impede the execution of any
		power herein granted to the Trustee, but will suffer and permit the execution
		of every such power as though no such law had been enacted.

	  

	 ARTICLE
		VI

	  

	 THE
		TRUSTEE

	  

	 The
		Trustee hereby accepts the trust imposed upon it by this Indenture and
		covenants and agrees to perform the same, as herein expressed.

	  

	 
		Section
		  6.01 Duties
		  of Trustee.

		

	  

	 
		(a) If an
		  Event of Default has occurred and is continuing, the Trustee shall exercise
		  such of the rights and powers vested in it by this Indenture and use the same
		  degree of care and skill in their exercise as a prudent person would exercise
		  or use under the circumstances in the conduct of his own affairs.

		

	  

	 
		(b) Except
		  during the continuance of an Event of Default:
 

	  

	 
		(1)  The
		  Trustee need perform only those duties as are specifically set forth in this
		  Indenture and no others, and no covenants or obligations shall be implied in or
		  read into this Indenture.
 

	 
		41
	 

	 

	 

	  

	 
		(2)  In the
		  absence of bad faith on its part, the Trustee may conclusively rely, as to the
		  truth of the statements and the correctness of the opinions expressed therein,
		  upon certificates or opinions furnished to the Trustee and conforming to the
		  requirements of this Indenture. However, in the case of any such certificates
		  or opinions which by any provision hereof are specifically required to be
		  furnished to the Trustee, the Trustee shall be under a duty to examine the same
		  to determine whether or not they substantially conform to the requirements of
		  this Indenture (but need not confirm or investigate the accuracy of
		  mathematical calculations or other facts stated therein).
 

	  

	 
		(c) The
		  Trustee may not be relieved from liability for its own negligent action, its
		  own negligent failure to act, or its own willful misconduct, except
		  that:
 

	  

	 
		(1)  This
		  paragraph does not limit the effect of paragraph (b) of this Section
		  6.01.
 

	  

	 
		(2)  The
		  Trustee shall not be liable for any error of judgment made in good faith by a
		  Responsible Officer, unless it is proved that the Trustee was negligent in
		  ascertaining the pertinent facts.
 

	  

	 
		(3)  The
		  Trustee shall not be liable with respect to any action it takes or omits to
		  take in good faith in accordance with a direction received by it pursuant to
		  Section 5.12.
 

	  

	 
		(d)  No
		  provision of this Indenture shall require the Trustee to expend or risk its own
		  funds or otherwise incur any financial liability in the performance of any of
		  its duties hereunder or to take or omit to take any action under this
		  Indenture.
 

	  

	 
		(e)  Every
		  provision of this Indenture that in any way relates to the Trustee is subject
		  to paragraphs (a), (b), (c), (d) and (f) of this Section 6.01.

		

	  

	 
		(f)  The
		  Trustee shall not be liable for interest on any assets received by it except as
		  the Trustee may agree in writing with the Company. Assets held in trust by the
		  Trustee need not be segregated from other assets except to the extent required
		  by law.
 

	  

	 
		Section
		  6.02  Rights
		  of Trustee.

		

	  

	 Subject
		to Section 6.01:

	  

	 
		(a) The
		  Trustee may rely conclusively on any document (whether in its original or
		  facsimile form) believed by it to be genuine and to have been signed or
		  presented by the proper person. The Trustee need not investigate any fact or
		  matter stated in any document. 
 

	  

	 
		(b) Before
		  the Trustee acts or refrains from acting, it may require an Officers’
		  Certificate or an Opinion of Counsel. The Trustee shall not be liable for any
		  action it takes or omits to take in good faith in reliance on such certificate
		  or opinion.
 

	  

	 
		(c) The
		  Trustee may act through its attorneys and agents and shall not be responsible
		  for the misconduct or negligence of any agent appointed with due
		  care.
 

	 
		42
	 

	 

	 

	  

	 
		(d) The
		  Trustee shall not be liable for any action it takes or omits to take in good
		  faith which it believes to be authorized or within its rights or
		  powers.
 

	  

	 
		(e) The
		  Trustee shall not be bound to make any investigation into the facts or matters
		  stated in any resolution, certificate, statement, instrument, opinion, notice,
		  request, direction, consent, order, bond, debenture, or other paper or
		  document, but the Trustee, in its discretion, may make such further inquiry or
		  investigation into such facts or matters as it may see fit and, if the Trustee
		  shall determine to make such further inquiry or investigation, it shall be
		  entitled to examine the books, records and premises of the Company, personally
		  or by agent or attorney at the sole cost of the Company and shall incur no
		  liability or additional liability of any kind by reason of such
		  investigation.
 

	  

	 
		(f) The
		  Trustee shall be under no obligation to exercise any of the rights or powers
		  vested in it by this Indenture at the request, order or direction of any of the
		  Holders, pursuant to the provisions of this Indenture, unless such Holders
		  shall have offered to the Trustee reasonable security or indemnity satisfactory
		  to it against the costs, expenses and liabilities which may be incurred therein
		  or thereby.
 

	  

	 
		(g) The
		  Trustee may consult with counsel of its selection and the advice of such
		  counsel or any Opinion of Counsel shall be full and complete authorization and
		  protection of any action taken, suffered or omitted by in hereunder in good
		  faith and in reliance thereon.
 

	  

	 
		(h) The
		  Trustee shall not be deemed to have notice of any Event of Default unless a
		  Responsible Officer of the Trustee has actual knowledge thereof or unless
		  written notice of any event which is in fact such a default is received by the
		  Trustee at the Corporate Trust Office of the Trustee, and such notice
		  references the Securities and this Indenture.
 

	  

	 
		(i) The
		  rights, privileges, protections, immunities and benefits given to the Trustee,
		  including, without limitation, its right to be indemnified, are extended to,
		  and shall be enforceable by, the Trustee in each of its capacities hereunder,
		  and each agent, custodian and other Person employed to act
		  hereunder.
 

	  

	 
		Section
		  6.03 Individual
		  Rights of Trustee.

		

	  

	 The
		Trustee in its individual or any other capacity may become the owner or pledgee
		of Securities and may otherwise deal with the Company, its Subsidiaries, or
		their respective Affiliates with the same rights it would have if it were not
		Trustee. Any Paying Agent or Security Registrar may do the same with like
		rights. However, the Trustee must comply with Sections 6.08, 6.09 and
		6.10.

	  

	 
		Section
		  6.04  Trustee’s
		  Disclaimer.

		

	  

	 The
		Trustee makes no representation as to the validity or adequacy of this
		Indenture or the Securities and it shall not be accountable for the
		Company’s use of the proceeds from the Securities, and it shall not be
		responsible for any statement in the Securities, other than the Trustee’s
		certificate of authentication, or the use or application of any funds received
		by a Paying Agent other than the Trustee.

	 
		43
	 

	 

	 

	  

	 
		Section
		  6.05 Notice
		  of Default.

		

	  

	 If an
		Event of Default with respect to Securities of any series occurs and is
		continuing and if it is known to the Trustee, the Trustee shall mail to each
		Holder of Securities of such series notice of the uncured Event of Default
		within 45 days after such Event of Default occurs. Except in the case of an
		Event of Default in payment of principal (or premium, if any) of, or interest
		on, any Security, the Trustee may withhold the notice if and so long as a
		Responsible Officer in good faith determines that withholding the notice is in
		the interest of the Holders of Securities of such series.

	  

	 
		Section
		  6.06 Reports
		  by Trustee to Holders.

		

	  

	 Within
		60 days after each February 15 beginning with the February 15 following the
		date of this Indenture, the Trustee shall mail to each Holder a brief report
		dated as of such February 15 that complies with Trust Indenture Act Section
		313(a) if such report is required by such Trust Indenture Act Section 313(a).
		The Trustee also shall comply with Trust Indenture Act Sections 313(b) and
		313(c).

	  

	 The
		Company shall promptly notify the Trustee in writing if the Securities of any
		series become listed on any stock exchange or automatic quotation
		system.

	  

	 A copy
		of each report at the time of its mailing to Holders shall be mailed to the
		Company and filed with the Commission and each stock exchange, if any, on which
		the Securities are listed.

	  

	 
		Section
		  6.07 Compensation
		  and Indemnity.

		

	  

	 The
		Company shall pay to the Trustee from time to time such compensation for its
		services as the Company and the Trustee shall from time to time agree in
		writing. The Trustee’s compensation shall not be limited by any law on
		compensation of a trustee of an express trust. The Company shall reimburse the
		Trustee upon request for all reasonable disbursements, expenses and advances
		incurred or made by it. Such expenses shall include the reasonable
		compensation, disbursements and expenses of the Trustee’s agents,
		accountants, experts and counsel.

	  

	 The
		Company shall indemnify each of the Trustee (in its capacity as Trustee) and
		any predecessor Trustee and each of their respective officers, directors,
		attorneys-in-fact and agents for, and hold it harmless against, any claim,
		demand, expense (including, but not limited to, reasonable compensation,
		disbursements and expenses of the Trustee’s agents and counsel), loss,
		charges (including taxes (other than taxes based upon the income of the
		Trustee)) or liability incurred by them without negligence or bad faith on its
		part, arising out of or in connection with the acceptance or administration of
		this trust and their rights or duties hereunder including the reasonable costs
		and expenses of defending themselves against any claim or liability in
		connection with the exercise or performance of any of its powers or duties
		hereunder. The Trustee shall notify the Company promptly of any claim asserted
		against the Trustee for which it may seek indemnity. The Company shall defend
		the claim and the Trustee shall provide reasonable cooperation at the
		Company’s expense in the defense. The Trustee may have separate counsel
		and the Company shall pay the reasonable fees and expenses of such counsel.
		

	 
		44
	 

	 

	 

	  

	 The
		Company need not pay for any settlement made without its written consent which
		consent shall not be unreasonably withheld. The Company need not reimburse any
		expense or indemnify against any loss or liability to the extent incurred by
		the Trustee as determined by a court of competent jurisdiction to have been
		caused by its own negligence, bad faith or willful misconduct.

	  

	 To
		secure the Company’s payment obligations in this Section 6.07, the Trustee
		shall have a lien prior to the Securities on all assets held or collected by
		the Trustee, in its capacity as Trustee, except assets held in trust to pay
		principal and premium, if any, of or interest on particular
		Securities.

	  

	 When the
		Trustee incurs expenses or renders services after an Event of Default specified
		in Section 5.01(6) or (7) occurs, the expenses and the compensation for the
		services are intended to constitute expenses of administration under any
		Bankruptcy Law.

	  

	 The
		Company’s obligations under this Section 6.07 and any lien arising
		hereunder shall survive the resignation or removal of the Trustee, the
		discharge of the Company’s obligations pursuant to Article IV of this
		Indenture and any rejection or termination of this Indenture under any
		Bankruptcy Law. 

	  

	 
		Section
		  6.08 Replacement
		  of Trustee.

		

	  

	 The
		Trustee may resign at any time with respect to the Securities of one or more
		series by so notifying the Company in writing. The Holder or Holders of a
		majority in principal amount of the outstanding Securities of a series may
		remove the Trustee with respect to Securities of such series by so notifying
		the Company and the Trustee in writing and may appoint a successor trustee with
		respect to Securities of such series with the Company’s consent. The
		Company may remove the Trustee if:

	  

	 
		(1)  the
		  Trustee fails to comply with Section 6.10;
 

	  

	 
		(2)  the
		  Trustee is adjudged bankrupt or insolvent;
 

	  

	 
		(3)  a
		  receiver, custodian, or other public officer takes charge of the Trustee or its
		  property; or
 

	  

	 
		(4)  the
		  Trustee becomes incapable of acting.
 

	  

	 If the
		Trustee resigns or is removed or if a vacancy exists in the office of Trustee,
		with respect to the Securities of one or more series, for any reason, the
		Company shall promptly appoint a successor Trustee, with respect to Securities
		of that or those series. Within one year after the successor Trustee with
		respect to a series of Securities takes office, the Holder or Holders of a
		majority in principal amount of the Securities of such series may appoint a
		successor Trustee with respect to such series to replace the successor Trustee
		appointed by the Company.

	  

	 A
		successor Trustee shall deliver a written acceptance of its appointment to the
		retiring Trustee and to the Company. Immediately after that and provided that
		all sums owing to 

	 
		45
	 

	 

	 

	  

	 the
		Trustee provided for in Section 6.07 have been paid, the retiring Trustee shall
		transfer all property held by it as Trustee with respect to such series of
		Securities to the successor Trustee, subject to the lien provided in Section
		6.07, the resignation or removal of the retiring Trustee shall become
		effective, and the successor Trustee shall have all the rights, powers and
		duties of the Trustee under this Indenture. A successor Trustee with respect to
		one or more series of Securities shall mail notice of its succession to each
		Holder of Securities of that or those series.

	  

	 If a
		successor Trustee with respect to a series of Securities does not take office
		within 60 days after the retiring Trustee resigns or is removed, the retiring
		Trustee, the Company or the Holder or Holders of at least 10% in principal
		amount of the outstanding Securities of that series may petition at the expense
		of the Company any court of competent jurisdiction for the appointment of a
		successor Trustee with respect to such series.

	  

	 If the
		Trustee fails to comply with Section 6.10, any Holder of Securities of a series
		may petition any court of competent jurisdiction for the removal of the Trustee
		with respect to such series and the appointment of a successor Trustee with
		respect to such series.

	  

	 Notwithstanding
		replacement of the Trustee pursuant to this Section 6.08, the Company’s
		obligations under Section 6.07 shall continue for the benefit of the retiring
		Trustee.

	  

	 
		Section
		  6.09 Successor
		  Trustee by Merger, Etc.
 

	  

	 If the
		Trustee consolidates with, merges or converts into, or transfers all or
		substantially all of its corporate trust business to, another corporation, the
		resulting, surviving or transferee corporation without any further act shall,
		if such resulting, surviving or transferee corporation is otherwise eligible
		hereunder, be the successor Trustee.

	  

	 
		Section
		  6.10 Eligibility;
		  Disqualification.

		

	  

	 The
		Trustee shall at all times satisfy the requirements of Trust Indenture Act
		Section 310(a)(1) and Trust Indenture Act Section 310(a)(5). The Trustee shall
		have a combined capital and surplus of at least $50,000,000 as set forth in its
		most recent published annual report of condition. The Trustee shall comply with
		Trust Indenture Act Section 310(b).

	  

	 
		Section
		  6.11 Preferential
		  Collection of Claims against Company.

		

	  

	 The
		Trustee shall comply with Trust Indenture Act Section 311(a), excluding any
		creditor relationship listed in Trust Indenture Act Section 311(b). A Trustee
		who has resigned or been removed shall be subject to Trust Indenture Act
		Section 311(a) to the extent indicated.

	  

	 ARTICLE VII 

	  

	 HOLDERS’
		LISTS AND REPORTS BY TRUSTEE AND COMPANY

	  

	 
		Section
		  7.01 Company
		  to Furnish Trustee Names and Addresses of Holders.

		

	  

	 The
		Company will furnish or cause to be furnished to the Trustee:

	 
		46
	 

	 

	 

	  

	 
		(1)  semi-annually,
		  not more than 15 days after each Regular Record Date, a list for each series of
		  Securities, in such form as the Trustee may reasonably require, of the names
		  and addresses of the Holders of Securities of such series as of the Regular
		  Record Date, as the case may be, and
 

	  

	 
		(2)  at such
		  other times as the Trustee may request in writing, within 30 days after the
		  receipt by the Company of any such request, a list of similar form and content
		  as of a date not more than 15 days prior to the time such list is
		  furnished;
 

	  

	 excluding from
		any such list names and addresses received by the Trustee in its capacity as
		Security Registrar.

	  

	 
		Section
		  7.02 Preservation
		  of Information; Communications to Holders.

		

	  

	 The
		Trustee shall preserve, in as current a form as is reasonably practicable, the
		names and addresses of Holders contained in the most recent list furnished to
		the Trustee as provided in Section 7.01 and the names and addresses of Holders
		received by the Trustee in its capacity as Security Registrar. The Trustee may
		destroy any list furnished to it as provided in Section 7.01 upon receipt of a
		new list so furnished.

	  

	 The
		rights of the Holders to communicate with other Holders with respect to their
		rights under this Indenture or under the Securities, and the corresponding
		rights and privileges of the Trustee, shall be as provided by the Trust
		Indenture Act.

	  

	 Every
		Holder of Securities, by receiving and holding the same, agrees with the
		Company and the Trustee that neither the Company nor the Trustee nor any agent
		of either of them shall be held accountable by reason of any disclosure of
		information as to names and addresses of Holders made pursuant to the Trust
		Indenture Act.

	  

	 
		Section
		  7.03 Reports
		  by Trustee.

		

	  

	 The
		Trustee shall transmit to Holders such reports concerning the Trustee and its
		actions under this Indenture as may be required pursuant to the Trust Indenture
		Act at the times and in the manner provided pursuant thereto.

	  

	 A copy
		of each such report shall, at the time of such transmission to Holders, be
		filed by the Trustee with each stock exchange upon which any Securities are
		listed, with the Commission and with the Company. The Company will notify the
		Trustee when any Securities are listed on any stock exchange or delisted
		therefrom.

	  

	 
		Section
		  7.04 Reports
		  by Company.

		

	  

	 The
		Company shall file with the Trustee and the Commission, and transmit to
		Holders, such information, documents and other reports, and such summaries
		thereof, as may be required pursuant to the Trust Indenture Act at the times
		and in the manner provided pursuant to such Act; provided that
		any such information, documents or reports required to be filed with the
		Commission pursuant to Section 13 or 15(d) of the Securities Exchange Act of
		1934 shall be filed with the Trustee within 15 days after the same is so
		required to be filed with the 

	 
		47
	 

	 

	 

	  

	 Commission.
		Delivery of such reports, information and documents to the Trustee is for
		informational purposes only and the Trustee’s receipt of such shall not
		constitute constructive notice of any information contained therein or
		determinable from information contained therein, including the Company’s
		compliance with any of its covenants hereunder (as to which the Trustee is
		entitled to rely exclusively on Officer’s Certificates).

	  

	 ARTICLE
		VIII

	  

	 CONSOLIDATION,
		MERGER, CONVEYANCE, TRANSFER OR LEASE

	  

	 
		Section
		  8.01 When
		  Company May Merge, Etc.
 

	  

	 The
		Company may not, in a single transaction or through a series of related
		transactions, consolidate with or merge with or into any other person, or,
		directly or indirectly, sell, lease, assign, transfer or convey its properties
		and assets as an entirety or substantially as an entirety (computed on a
		consolidated basis) to another person or group of affiliated persons, and
		another person or group of affiliated persons may not directly or indirectly
		sell, lease, assign, transfer or convey its properties and assets as an entity
		or substantially as an entity (computed on a consolidated basis) to the
		Company, unless:

	  

	 
		(1)  the
		  Company shall be the continuing person, or the person (if other than the
		  Company) formed by such consolidation or into which the Company is merged or to
		  which all or substantially all of the properties and assets of the Company are
		  transferred as an entirety or substantially as an entirety (the Company or such
		  other person being hereinafter referred to as the “Surviving
		  Person”),
		  shall be a corporation organized and validly existing under the laws of
		  Bermuda, the United States, any State thereof or the District of Columbia, any
		  member country of the European Union or any other country recognized by the
		  United States and shall expressly assume, by an indenture supplemental hereto,
		  executed and delivered to the Trustee, in form and substance satisfactory to
		  the Trustee, all the obligations of the Company under the Securities and this
		  Indenture and the Indenture, so supplemented, shall remain in full force and
		  effect; 
 

	  

	 
		(2)  immediately
		  after giving effect to such transaction and the assumption of the obligations
		  as set forth in clause (1), above, no Event of Default shall have occurred and
		  be continuing; and
 

	  

	 
		(3)  if a
		  supplemental indenture is required in connection with such transaction, the
		  Company has delivered to the Trustee an Officers’ Certificate and an
		  Opinion of Counsel, each stating that such consolidation, merger, assignment,
		  or transfer and such supplemental indenture comply with this Article VIII and
		  that all conditions precedent herein provided relating to such transaction have
		  been satisfied.
 

	  

	 
		Section
		  8.02  Successor
		  Corporation Substituted.

		

	  

	 Upon any
		consolidation or merger, or any transfer of assets in accordance with Section
		8.01, the Surviving Person formed by such consolidation or into which the
		Company is merged or to which such transfer is made shall succeed to, and be
		substituted for, and may 

	 
		48
	 

	 

	 

	  

	 exercise
		every right and power of, the Company under this Indenture with the same effect
		as if such Surviving Person had been named as the Company herein. When a
		Surviving Person duly assumes all of the obligations of the Company pursuant
		hereto and pursuant to the Securities, the predecessor shall be relieved of the
		performance and observance of all obligations and covenants of this Indenture
		and the Securities, including, but not limited to, the obligation to make
		payment of the principal of and interest, if any, on all the Securities then
		outstanding, and the Company may thereupon or any time thereafter be liquidated
		and dissolved.

	  

	 ARTICLE
		IX  

	  

	 SUPPLEMENTAL
		INDENTURES

	  

	 
		Section
		  9.01 Supplemental
		  Indentures Without Consent of Holders.

		

	  

	 Without
		the consent of any Holders, the Company, when authorized by a Board Resolution,
		and the Trustee, at any time and from time to time, may enter into one or more
		indentures supplemental hereto, in form satisfactory to the Trustee, for any of
		the following purposes:

	  

	 
		(1) to
		  evidence the succession of another Person to the Company and the assumption by
		  any such successor of the covenants of the Company herein and in the
		  Securities; or
 

	  

	 
		(2) to add
		  to the covenants of the Company for the benefit of the Holders of all or any
		  series of Securities (and if such covenants are to be for the benefit of less
		  than all series of Securities, stating that such covenants are expressly being
		  included solely for the benefit of such series) or to surrender any right or
		  power herein conferred upon the Company; or
 

	  

	 
		(3) to add
		  any additional Events of Default for the benefit of the Holders of all or any
		  series of Securities (and if such additional Events of Default are to be for
		  the benefit of less than all series of Securities, stating that such additional
		  Events of Default are expressly being included solely for the benefit of such
		  series); or
 

	  

	 
		(4) to add
		  to or change any of the provisions of this Indenture to such extent as shall be
		  necessary to permit or facilitate the issuance of Securities in bearer form,
		  registrable or not registrable as to principal, and with or without interest
		  coupons, or to permit or facilitate the issuance of Securities in
		  uncertificated form; or
 

	  

	 
		(5) to add
		  to, change or eliminate any of the provisions of this Indenture in respect of
		  one or more series of Securities; provided that
		  any such addition, change or elimination (A) shall neither (i) apply to any
		  Security of any series created prior to the execution of such supplemental
		  indenture and entitled to the benefit of such provision nor (ii) modify the
		  rights of the Holder of any such Security with respect to such provision or (B)
		  shall become effective only when there is no such Security Outstanding;
		  or
 

	 
		49
	 

	 

	 

	  

	 
		(6) to
		  secure the Securities pursuant to the requirements of Article X or otherwise;
		  or
 

	  

	 
		(7) to
		  establish the form or terms of Securities of any series as permitted by
		  Sections 2.01 and 3.01; or
 

	  

	 
		(8) to
		  evidence and provide for the acceptance of appointment hereunder by a successor
		  Trustee with respect to the Securities of one or more series and to add to or
		  change any of the provisions of this Indenture as shall be necessary to provide
		  for or facilitate the administration of the trusts hereunder by more than one
		  Trustee, pursuant to the requirements of Section 6.11; or
 

	  

	 
		(9) to make
		  provisions with respect to the conversion rights of Holders pursuant to the
		  requirements of Article XIV; or
 

	  

	 
		(10) to cure
		  any ambiguity, to correct or supplement any provision herein which may be
		  defective or inconsistent with any other provision herein, or to make any other
		  provisions with respect to matters or questions arising under this Indenture;
		  provided that
		  such action pursuant to this clause (10) shall not adversely affect the
		  interests of the Holders of Securities of any series in any material respect;
		  or
 

	  

	 
		(11) to
		  maintain the qualification of this Indenture under the Trust Indenture
		  Act.
 

	  

	 
		Section
		  9.02 Supplemental
		  Indentures with Consent of Holders.

		

	  

	 With the
		consent of the Holders of not less than a majority in principal amount of the
		Outstanding Securities of each series affected by such supplemental indenture,
		by Act of said Holders delivered to the Company and the Trustee, the Company,
		when authorized by a Board Resolution, and the Trustee may enter into an
		indenture or indentures supplemental hereto for the purpose of adding any
		provisions to or changing in any manner or eliminating any of the provisions of
		this Indenture or of modifying in any manner the rights of the Holders of
		Securities of such series under this Indenture; provided,
		however, that
		no such supplemental indenture shall, without the consent of the Holder of each
		Outstanding Security affected thereby,

	  

	 
		(1) change
		  the Stated Maturity of the principal of, or any installment of principal of or
		  interest on, any Security, or reduce the principal amount thereof or the rate
		  of interest or the time of payment of interest thereon or any premium payable
		  upon the redemption thereof, or reduce the amount of the principal of an
		  Original Issue Discount Security that would be due and payable upon a
		  declaration of acceleration of the Maturity thereof pursuant to Section 5.02,
		  or change any Place of Payment where, or the coin or currency in which, any
		  Security or any premium or interest thereon is payable, or impair the right to
		  institute suit for the enforcement of any such payment on or after the Stated
		  Maturity thereof (or, in the case of redemption, on or after the Redemption
		  Date), or adversely affect the right to convert any Security as provided in
		  Article XIV, or modify the provisions of this Indenture with respect to
		  the subordination of any series of the Securities in a manner adverse to the
		  Holders thereof, or
 

	 
		50
	 

	 

	 

	  

	 (2) reduce
		the percentage in principal amount of the Outstanding Securities of any series,
		the consent of whose Holders is required for any such supplemental indenture,
		or the consent of whose Holders is required for any waiver (of compliance with
		certain provisions of this Indenture or certain defaults hereunder and their
		consequences) provided for in this Indenture, or

	  

	 (3) modify
		any of the provisions of this Section or Section 5.13, except to increase any
		such percentage or to provide that certain other provisions of this Indenture
		cannot be modified or waived without the consent of the Holder of each
		Outstanding Security affected thereby; provided,
		however, that
		this clause shall not be deemed to require the consent of any Holder with
		respect to changes in the references to “the Trustee” and concomitant
		changes in this Section, or the deletion of this proviso, in accordance with
		the requirements of Sections 6.11 and 9.01(8), or 

	  

	 (4) change
		any obligation of ours to maintain an office or agency, or

	  

	 (5) change
		any obligation of ours to pay additional amounts, or

	  

	 (6) adversely
		affect the right of repayment or repurchase at the option of the Holder,
		or

	  

	 (7) reduce
		or postpone any sinking fund or similar provision.

	  

	 A
		supplemental indenture which changes or eliminates any covenant or other
		provision of this Indenture which has expressly been included solely for the
		benefit of one or more particular series of Securities, or which modifies the
		rights of the Holders of Securities of such series with respect to such
		covenant or other provision, shall be deemed not to affect the rights under
		this Indenture of the Holders of Securities of any other series.

	  

	 It shall
		not be necessary for any Act of Holders under this Section to approve the
		particular form of any proposed supplemental indenture, but it shall be
		sufficient if such Act shall approve the substance thereof.

	  

	 Section
		9.03 Execution
		of Supplemental Indentures.

	  

	 In
		executing, or accepting the additional trusts created by, any supplemental
		indenture permitted by this Article or the modifications thereby of the trusts
		created by this Indenture, the Trustee shall be entitled to receive, and
		(subject to Section 6.01) shall be fully protected in relying upon, an Opinion
		of Counsel stating that the execution of such supplemental indenture is
		authorized or permitted by this Indenture. The Trustee may, but shall not be
		obligated to, enter into any such supplemental indenture which affects the
		Trustee’s own rights, duties or immunities under this Indenture or
		otherwise.

	  

	 Section
		9.04 Effect
		of Supplemental Indentures.

	  

	 Upon the
		execution of any supplemental indenture under this Article, this Indenture
		shall be modified in accordance therewith, and such supplemental indenture
		shall form

	 
		51
	 

	 

	 

	  

	 a part
		of this Indenture for all purposes; and every Holder of Securities theretofore
		or thereafter authenticated and delivered hereunder shall be bound
		thereby.

	  

	 Section
		9.05 Conformity
		with Trust Indenture Act.

	  

	 Every
		supplemental indenture executed pursuant to this Article shall conform to the
		requirements of the Trust Indenture Act.

	  

	 Section
		9.06 Reference
		in Securities to Supplemental Indentures.

	  

	 Securities
		of any series authenticated and delivered after the execution of any
		supplemental indenture pursuant to this Article may, and shall if required by
		the Trustee, bear a notation in form approved by the Trustee as to any matter
		provided for in such supplemental indenture. If the Company shall so determine,
		new Securities of any series so modified as to conform, in the opinion of the
		Trustee and the Company, to any such supplemental indenture may be prepared and
		executed by the Company and authenticated and delivered by the Trustee in
		exchange for Outstanding Securities of such series.

	  

	 ARTICLE
		X

	  

	 COVENANTS

	  

	 Section
		10.01 Payment
		of Securities.

	  

	 The
		Company covenants and agrees for the benefit of each series of Securities that
		it will pay the principal of and interest on the Securities of that series on
		the dates and in the manner provided in the Securities of that series and this
		Indenture. An installment of principal, premium, if any, or interest on the
		Securities shall be considered paid on the date it is due if the Trustee or
		Paying Agent (other than the Company or an Affiliate of the Company) holds for
		the benefit of the Holders, on that date, immediately available funds deposited
		and designated for and sufficient to pay the installment.

	  

	 The
		Company shall pay interest on overdue principal and on overdue installments of
		interest at the rate specified in the Securities compounded semi-annually, to
		the extent lawful.

	  

	 Section
		10.02 Maintenance
		of Office or Agency.

	  

	 The
		Company shall maintain in the Place of Payment for any series of Securities, an
		office or agency where Securities of that series may be presented or
		surrendered for payment, where Securities of that series may be surrendered for
		registration of transfer or exchange, where Securities of any series that is
		convertible may be surrendered for conversion, and where notices and demands to
		or upon the Company in respect of the Securities of that series and this
		Indenture may be served. The Company shall give prompt written notice to the
		Trustee of the location, and any change in the location, of such office or
		agency. If at any time the Company shall fail to maintain any such required
		office or agency or shall fail to furnish the Trustee with the address thereof,
		such presentations, surrenders, notices and demands may be made or served at
		the Corporate Trust Office.

	 
		52
	 

	 

	 

	  

	 The
		Company may also from time to time designate one or more other offices or
		agencies where the Securities of one or more series may be presented or
		surrendered for any or all such purposes and may from time to time rescind such
		designations; provided,
		however, that
		no such designation or rescission shall in any manner relieve the Company of
		its obligation to maintain an office or agency in each Place of Payment for
		Securities of any series for such purposes. The Company shall give prompt
		written notice to the Trustee of any such designation or rescission and of any
		change in the location of any such other office or agency. The Company hereby
		initially designates the principal corporate trust office of the Trustee as
		such office of the Company.

	  

	 Section
		10.03 Money
		for Securities Payments to Be Held in Trust.

	  

	 If the
		Company shall at any time act as its own Paying Agent with respect to any
		series of Securities, it will, on or before each due date of the principal of
		or any premium or interest on any of the Securities of that series, segregate
		and hold in trust for the benefit of the Persons entitled thereto a sum
		sufficient to pay the principal and any premium and interest so becoming due
		until such sums shall be paid to such Persons or otherwise disposed of as
		herein provided and will promptly notify the Trustee of its action or failure
		so to act.

	  

	 Whenever
		the Company shall have one or more Paying Agents for any series of Securities,
		it will, on or prior to each due date of the principal of or any premium or
		interest on any Securities of that series, deposit with a Paying Agent a sum
		sufficient to pay such amount, such sum to be held as provided by the Trust
		Indenture Act, and (unless such Paying Agent is the Trustee) the Company will
		promptly notify the Trustee of its action or failure so to act.

	  

	 The
		Company will cause each Paying Agent for any series of Securities other than
		the Trustee to execute and deliver to the Trustee an instrument in which such
		Paying Agent shall agree with the Trustee, subject to the provisions of this
		Section, that such Paying Agent will (1) comply with the provisions of the
		Trust Indenture Act applicable to it as a Paying Agent and (2) during the
		continuance of any default by the Company (or any other obligor upon the
		Securities of that series) in the making of any payment in respect of the
		Securities of that series, upon the written request of the Trustee, forthwith
		pay to the Trustee all sums held in trust by such Paying Agent for payment in
		respect of the Securities of that series.

	  

	 The
		Company may at any time, for the purpose of obtaining the satisfaction and
		discharge of this Indenture or for any other purpose, pay, or by Company Order
		direct any Paying Agent to pay, to the Trustee all sums held in trust by the
		Company or such Paying Agent, such sums to be held by the Trustee upon the same
		trusts as those upon which such sums were held by the Company or such Paying
		Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying
		Agent shall be released from all further liability with respect to such
		money.

	  

	 Any
		money deposited with the Trustee or any Paying Agent, or then held by the
		Company, in trust for the payment of the principal of or any premium or
		interest on any Security of any series and remaining unclaimed for two years
		after such principal, premium or interest has become due and payable shall be
		paid to the Company on Company Request, or (if then held by the Company) shall
		be discharged from such trust; and the Holder of such Security
		shall

	 
		53
	 

	 

	 

	  

	 thereafter,
		as an unsecured general creditor, look only to the Company for payment thereof,
		and all liability of the Trustee or such Paying Agent with respect to such
		trust money, and all liability of the Company as trustee thereof, shall
		thereupon cease; provided,
		however, that
		the Trustee or such Paying Agent, before being required to make any such
		repayment, may at the expense of the Company cause to be published once, in a
		newspaper published in the English language, customarily published on each
		Business Day and of general circulation in New York City, notice that such
		money remains unclaimed and that, after a date specified therein, which shall
		not be less than 30 days from the date of such publication, any unclaimed
		balance of such money then remaining will be repaid to the
		Company.

	  

	 Section
		10.04 Corporate
		Existence.

	  

	 Subject
		to Article VIII, the Company shall do or cause to be done all things necessary
		to preserve and keep in full force and effect its corporate existence and the
		corporate or other existence of each of its Subsidiaries in accordance with the
		respective organizational documents of each of them and the rights (charter and
		statutory) and corporate franchises of the Company and each of its
		Subsidiaries; provided,
		however, that
		the Company shall not be required to preserve, with respect to itself, any
		right or franchise, and with respect to any of its Subsidiaries, any such
		existence, right or franchise, if (a) the Board of Directors of the Company
		shall determine that the preservation thereof is no longer desirable in the
		conduct of the business of the Company and (b) the loss thereof is not
		disadvantageous in any material respect to the Holders.

	  

	 Section
		10.05 Payment
		of Taxes and Other Claims.

	  

	 The
		Company shall, and shall cause each of its Subsidiaries to, pay or discharge or
		cause to be paid or discharged, before the same shall become delinquent, (i)
		all taxes, assessments and governmental charges (including withholding taxes
		and any penalties, interest and additions to taxes) levied or imposed upon the
		Company or any of its Subsidiaries or properties and assets of the Company or
		any of its Subsidiaries and (ii) all lawful claims, whether for labor,
		materials, supplies, service or anything else, which have become due and
		payable and which by law have or may become a Lien upon the property and assets
		of the Company or any of its Subsidiaries; provided,
		however, that
		the Company shall not be required to pay or discharge or cause to be paid or
		discharged any such tax, assessment, charge or claim whose amount,
		applicability or validity is being contested in good faith by appropriate
		proceedings and for which disputed amounts adequate reserves have been
		established in accordance with generally accepted accounting
		principles.

	  

	 Section
		10.06 Compliance
		Certificate; Notice of Default.

	  

	 (a) The
		Company shall deliver to the Trustee within 120 days after the end of its
		fiscal year an Officers’ Certificate (one of the signatories of which
		shall be the Company’s principal executive officer, principal financial
		officer or principal accounting officer) complying with Section 314(a)(4) of
		the Trust Indenture Act and stating that a review of its activities and the
		activities of its Subsidiaries during the preceding fiscal year has been made
		under the supervision of the signing officers with a view to determining
		whether the Company has kept, observed, performed and fulfilled its obligations
		under this Indenture (all without regard to

	 
		54
	 

	 

	 

	  

	 periods
		of grace, which shall be deemed fulfilled unless and until the expiration of
		such periods) or notice requirements) and further stating, as to each such
		officer signing such certificate, whether or not the signer knows of any
		failure by the Company or any Subsidiary of the Company to comply with any
		conditions or covenants in this Indenture and, if such signer does know of such
		a failure to comply, the certificate shall describe such failure with
		particularity. The Officers’ Certificate shall also notify the Trustee
		should the relevant fiscal year end on any date other than the current fiscal
		year end date.

	  

	 (b) The
		Company shall, so long as any of the Securities of any series are outstanding,
		deliver to the Trustee, immediately upon becoming aware of any Event of Default
		with respect to such series under this Indenture, an Officers’ Certificate
		specifying such Event of Default and what action the Company is taking or
		proposes to take with respect thereto. The Trustee shall not be deemed to have
		knowledge of a an Event of Default unless one of its Responsible Officers
		receives notice of the Event of Default giving rise thereto from the Company or
		any of the Holders.

	  

	 Section
		10.07 Waiver
		of Stay, Extension or Usury Laws.

	  

	 The
		Company covenants for the benefit of each series of Securities (to the extent
		that it may lawfully do so) that it will not at any time insist upon, plead, or
		in any manner whatsoever claim or take the benefit or advantage of, any stay or
		extension law or any usury law or other law wherever enacted which would
		prohibit or forgive the Company from paying all or any portion of the principal
		of or interest on the Securities of that series as contemplated herein,
		wherever enacted, now or at any time hereafter in force, or which may affect
		the covenants or the performance of this Indenture; and (to the extent that it
		may lawfully do so) the Company hereby expressly waives for the benefit of each
		series of Securities all benefit or advantage of any such law insofar as such
		law applies to the Securities of that series, and covenants for the benefit of
		each series of Securities that it shall not hinder, delay or impede the
		execution of any power herein granted to the Trustee with respect to that
		series, but will suffer and permit the execution of every such power as though
		no such law had been enacted.

	  

	 Section
		10.08 Limitation
		on Liens.

	  

	 The
		Company shall not, and shall not permit any of its Material Subsidiaries to,
		issue, incur, assume or Guaranty any Indebtedness for borrowed money secured by
		a Lien (other than Permitted Liens) upon any shares of the Voting Stock of a
		Material Subsidiary without effectively providing that the Securities (and if
		the Company so elects, any other indebtedness of the Company ranking on a
		parity with the Securities) shall be secured equally and ratably with, or prior
		to, any such secured Indebtedness so long as such Indebtedness remains
		outstanding.

	  

	 Section
		10.09 Limitation
		on Transactions with Affiliates.

	  

	 The
		Company will not, and will not permit any of its Subsidiaries to, sell, lease,
		transfer or otherwise dispose of any of its properties or assets to, or
		purchase any property or asset from, or enter into any transaction, contract,
		agreement, understanding, loan, advance or guarantee with, or for the benefit
		of, any Affiliate (each of the foregoing, an “Affiliate
		Transaction”),
		unless (a) such Affiliate Transaction is made on terms that are no less
		favorable to

	 
		55
	 

	 

	 

	  

	 the
		Company or the relevant Subsidiary than those that would have been obtained in
		a comparable transaction by the Company or such Subsidiary with an unrelated
		person and (b) the Company delivers to the Trustee with respect to any
		Affiliate Transaction or series of related Affiliate Transactions involving
		aggregate consideration in excess of $25 million in any fiscal year, a
		resolution of the Board of Directors set forth in an Officers’ Certificate
		certifying that such Affiliate Transaction or series of related Affiliate
		Transactions complies with clause (a) above and such Affiliate Transaction or
		series of related Affiliate Transactions has been approved by a majority of the
		disinterested members of the Board of Directors; provided,
		however, that
		(i) any employment agreement entered into by the Company or any of its
		Subsidiaries in the ordinary course of business and consistent with the past
		practice of the Company or such Subsidiary; (ii) transactions between or among
		the Company and/or its Subsidiaries, (iii) Affiliate Transactions entered into
		prior to the date of issuance of the Securities under this Indenture and
		(iv) Affiliate Transactions entered into in the ordinary course of
		business of the Company or such Subsidiary, shall be deemed not to be Affiliate
		Transactions. 

	  

	 ARTICLE
		XI

	  

	 REDEMPTION
		OF SECURITIES

	  

	 Section
		11.01 Applicability
		of Article.

	  

	 Securities
		of any series which are redeemable before their Stated Maturity shall be
		redeemable in accordance with their terms and (except as otherwise specified as
		contemplated by Section 3.01 for Securities of any series) in accordance with
		this Article.

	  

	 Section
		11.02 Election
		to Redeem; Notice to Trustee.

	  

	 The
		election of the Company to redeem any Securities shall be evidenced by a Board
		Resolution. In case of any redemption at the election of the Company of less
		than all the Securities of any series, the Company shall, at least 60 days
		prior to the Redemption Date fixed by the Company (unless a shorter notice
		shall be satisfactory to the Trustee), notify the Trustee of such Redemption
		Date, of the principal amount of Securities of such series to be redeemed and,
		if applicable, of the tenor of the Securities to be redeemed. In the case of
		any redemption of Securities prior to the expiration of any restriction on such
		redemption provided in the terms of such Securities or elsewhere in this
		Indenture, the Company shall furnish the Trustee with an Officers’
		Certificate evidencing compliance with such restriction.

	  

	 Section
		11.03 Selection
		by Trustee of Securities to Be Redeemed.

	  

	 If less
		than all the Securities of any series are to be redeemed (unless all of the
		Securities of such series and of a specified tenor are to be redeemed), the
		particular Securities to be redeemed shall be selected not more than 60 days
		prior to the Redemption Date by the Trustee, from the Outstanding Securities of
		such series not previously called for redemption, by such method as the Trustee
		shall deem fair and appropriate and which may provide for the selection for
		redemption of portions (equal to the minimum authorized denomination for
		Securities of that series or any integral multiple thereof) of the principal
		amount of Securities of such series of a denomination larger than the minimum
		authorized denomination for Securities of

	 
		56
	 

	 

	 

	  

	 that
		series. If less than all of the Securities of such series and of a specified
		tenor are to be redeemed, the particular Securities to be redeemed shall be
		selected not more than 60 days prior to the Redemption Date by the Trustee,
		from the Outstanding Securities of such series and specified tenor not
		previously called for redemption in accordance with the preceding
		sentence.

	  

	 If any
		Security selected for partial redemption is converted in part before
		termination of the conversion right with respect to the portion of the Security
		so selected, the converted portion of such Security shall be deemed (so far as
		may be) to be the portion selected for redemption. Securities which have been
		converted during a selection of Securities to be redeemed shall be treated by
		the Trustee as Outstanding for the purpose of such selection.

	  

	 The
		Trustee shall promptly notify the Company in writing of the Securities selected
		for redemption and, in the case of any Securities selected for partial
		redemption, the principal amount thereof to be redeemed.

	  

	 For all
		purposes of this Indenture, unless the context otherwise requires, all
		provisions relating to the redemption of Securities shall relate, in the case
		of any Securities redeemed or to be redeemed only in part, to the portion of
		the principal amount of such Securities which has been or is to be
		redeemed.

	  

	 Section
		11.04 Notice
		of Redemption.

	  

	 Notice
		of redemption shall be given by first-class mail, postage prepaid, mailed not
		less than 30 nor more than 60 days prior to the Redemption Date, to each Holder
		of Securities to be redeemed, at his address appearing in the Security
		Register.

	  

	 All
		notices of redemption shall state:

	  

	 (1) the
		Redemption Date,

	  

	 (2) the
		Redemption Price,

	  

	 (3) if less
		than all the Outstanding Securities of any series are to be redeemed, the
		identification (and, in the case of partial redemption of any Securities, the
		principal amounts) of the particular Securities to be redeemed,

	  

	 (4) that on
		the Redemption Date the Redemption Price will become due and payable upon each
		such Security to be redeemed and, if applicable, that interest thereon will
		cease to accrue on and after said date,

	  

	 (5) in the
		case of any Securities that are convertible pursuant to Article XIV, the
		conversion price or rate, the date on which the right to convert the principal
		of the Securities to be redeemed will terminate and the place or places where
		such Securities may be surrendered for conversion,

	  

	 (6) the
		place or places where such Securities are to be surrendered for payment of the
		Redemption Price, 

	 
		57
	 

	 

	 

	  

	 (7) that the
		redemption is for a sinking fund, if such is the case, and

	  

	 (8) applicable
		CUSIP Numbers.

	  

	 Notice
		of redemption of Securities to be redeemed at the election of the Company shall
		be given by the Company or, at the Company’s request, by the Trustee in
		the name and at the expense of the Company and shall be
		irrevocable.

	  

	 Section
		11.05 Deposit
		of Redemption Price.

	  

	 Prior to
		any Redemption Date, the Company shall deposit with the Trustee or with a
		Paying Agent an amount of money sufficient to pay the Redemption Price of, and
		(except if the Redemption Date shall be an Interest Payment Date) accrued
		interest on, all the Securities which are to be redeemed on that date other
		than any Securities called for redemption on that date which have been
		converted prior to the date of such deposit.

	  

	 If any
		Security called for redemption is converted, any money deposited with the
		Trustee or with any Paying Agent or so segregated and held in trust for the
		redemption of such Security shall (subject to any right of the Holder of such
		Security or any Predecessor Security to receive interest as provided in the
		last paragraph of Section 3.07) be paid to the Company upon Company Request or,
		if then held by the Company, shall be discharged from such trust.

	  

	 Section
		11.06 Securities
		Payable on Redemption Date.

	  

	 Notice
		of redemption having been given as aforesaid, the Securities so to be redeemed
		shall, on the Redemption Date, become due and payable at the Redemption Price
		therein specified, and from and after such date (unless the Company shall
		default in the payment of the Redemption Price and accrued interest) such
		Securities shall cease to bear interest. Upon surrender of any such Security
		for redemption in accordance with said notice, such Security shall be paid by
		the Company at the Redemption Price, together with accrued interest to the
		Redemption Date; provided,
		however, that,
		unless otherwise specified as contemplated by Section 3.01, installments of
		interest whose Stated Maturity is on or prior to the Redemption Date shall be
		payable to the Holders of such Securities, or one or more Predecessor
		Securities, registered as such at the close of business on the relevant Record
		Dates according to their terms and the provisions of Section 3.07.

	  

	 If any
		Security called for redemption shall not be so paid upon surrender thereof for
		redemption, the principal and any premium shall, until paid, bear interest from
		the Redemption Date at the rate prescribed therefor in the
		Security.

	  

	 Section
		11.07 Securities
		Redeemed in Part.

	  

	 Any
		Security which is to be redeemed only in part shall be surrendered at a Place
		of Payment thereof (with, if the Company or the Trustee so requires, due
		endorsement by, or a written instrument of transfer in form satisfactory to the
		Company and the Trustee duly executed by, the Holder thereof or his attorney
		duly authorized in writing), and the Company shall execute, and the Trustee
		shall authenticate and deliver to the Holder of such Security without service
		charge, a new Security or Securities of the same series and of like tenor, of
		any

	 
		58
	 

	 

	 

	  

	 authorized
		denomination as requested by such Holder, in aggregate principal amount equal
		to and in exchange for the unredeemed portion of the principal of the Security
		so surrendered.

	  

	 ARTICLE
		XII

	  

	 SINKING
		FUNDS

	  

	 Section
		12.01 Applicability
		of Article.

	  

	 The
		provisions of this Article shall be applicable to any sinking fund for the
		retirement of Securities of a series except as otherwise specified as
		contemplated by Section 3.01 for Securities of such series.

	  

	 The
		minimum amount of any sinking fund payment provided for by the terms of
		Securities of any series is herein referred to as a “mandatory sinking
		fund payment”, and any payment in excess of such minimum amount provided
		for by the terms of Securities of any series is herein referred to as an
		“optional sinking fund payment”. If provided for by the terms of
		Securities of any series, the cash amount of any sinking fund payment may be
		subject to reduction as provided in Section 12.02. Each sinking fund payment
		shall be applied to the redemption of Securities of any series as provided for
		by the terms of Securities of such series.

	  

	 Section
		12.02 Satisfaction
		of Sinking Fund Payments with Securities.

	  

	 At its
		option, the Company may reduce or satisfy its obligation to make any mandatory
		sinking fund payment by delivering to the Trustee at least 45 days before any
		mandatory sinking fund payment date (or such shorter period as may be
		acceptable to the Trustee) (i) Securities of the series which are the subject
		of the mandatory sinking fund payment which have been acquired (other than by
		mandatory redemption) by the Company at any time together with an
		Officers’ Certificate stating the election of the Company to have credited
		against such sinking fund payment the principal amount of the Securities so
		delivered, (ii) an Officers’ Certificate stating the election of the
		Company to have credited against such sinking fund payment a specified
		principal amount of Securities of the series that are the subject of the
		mandatory sinking fund payment which have been acquired (other than by
		mandatory redemption) by the Company and theretofore surrendered to the Trustee
		for cancellation (including, for such purpose, Securities surrendered for
		conversion pursuant to Article XIV), (iii) an Officers’ Certificate
		stating the election of the Company to have credited against such sinking fund
		payment a specified principal amount of the Securities of the series which are
		the subject of the mandatory sinking fund payment which have been called for
		redemption at the option of the Company or with the proceeds of any optional
		sinking fund payment and which are no longer Outstanding, or (iv) any
		combination of the foregoing. Each Officers’ Certificate shall state the
		principal amount of the Securities of the relevant series issued and
		outstanding at the date of such Officers’ Certificate, that no Event of
		Default has occurred and is continuing with respect to the Securities of such
		series and that the Securities forming the basis of such credit do not include
		any Securities theretofore mandatorily redeemed or called for mandatory
		redemption pursuant to the terms of the relevant series of the Securities. All
		Securities made the basis of a credit against a mandatory sinking fund payment
		shall be credited at 100% of the principal amount thereof. Any mandatory
		sinking fund payment or payments may at any time be anticipated by
		the

	 
		59
	 

	 

	 

	  

	 Company
		by obtaining credit thereon in the manner above provided, such credits to apply
		against mandatory sinking fund payments in the order in which they become
		due.

	  

	 Section
		12.03 Redemption
		of Securities for Sinking Fund.

	  

	 Not less
		than 45 days (or such shorter period as may be acceptable to the Trustee)
		prior to each sinking fund payment date for any series of Securities, the
		Company will deliver to the Trustee an Officers’ Certificate specifying
		the amount of the next ensuing sinking fund payment for that series pursuant to
		the terms of that series, the portion thereof, if any, which is to be satisfied
		by payment of cash and the portion thereof, if any, which is to be satisfied by
		delivering and crediting Securities of that series pursuant to Section 12.02
		and will also deliver to the Trustee any Securities to be so delivered. Not
		less than 30 days before each such sinking fund payment date the Trustee shall
		select the Securities to be redeemed upon such sinking fund payment date in the
		manner specified in Section 11.03 and cause notice of the redemption thereof to
		be given in the name of and at the expense of the Company in the manner
		provided in Section 11.04. Such notice having been duly given, the redemption
		of such Securities shall be made upon the terms and in the manner stated in
		Sections 11.06 and 11.07.

	  

	 The
		Trustee shall not redeem any Securities with sinking fund moneys or mail any
		notice of redemption of Securities by operation of the sinking fund during the
		continuance of a default in payment of interest on the Securities of such
		series or of any Event of Default with respect to the Securities of such series
		(other than an Event of Default occurring as a consequence of this paragraph),
		except that if notice of redemption of any Securities shall theretofore have
		been given, the Trustee shall redeem such Securities if cash sufficient for
		that purpose shall be deposited with the Trustee for that purpose in accordance
		with the terms of the series of the Securities. Except as aforesaid, any moneys
		in the sinking fund at the time when any such Default or Event of Default shall
		occur, and not held for payment or redemption of particular Securities of the
		series, and any moneys thereafter paid into the sinking fund shall, during the
		continuance of such default or Event of Default, be held as security for the
		payment of all the Securities of the series; provided, however, that in case
		such default or Event of Default shall have been cured or waived as provided in
		Section 5.13, such moneys shall thereafter be applied in accordance with the
		terms of the Securities applicable to sinking funds.

	  

	 ARTICLE
		XIII

	  

	 DEFEASANCE
		AND COVENANT DEFEASANCE

	  

	 Section
		13.01 Company’s
		Option to Effect Defeasance or Covenant Defeasance.

	  

	 The
		Company may elect, at its option by Board Resolution at any time, to have
		either Section 13.02 or Section 13.03 applied to the Outstanding Securities of
		any series designated pursuant to Section 3.01 as being defeasible pursuant to
		this Article XIII (hereinafter called a “Defeasible
		Series”),
		upon compliance with the conditions set forth below in this Article XIII;
		provided that
		Section 13.02 shall not apply to any series of Securities that is
		convertible into Common Shares as provided in Article XIV or convertible
		into or exchangeable for any other securities pursuant to
		Section 3.01(17).

	 
		60
	 

	 

	 

	  

	 Section
		13.02 Defeasance
		and Discharge.

	  

	 Upon the
		Company’s exercise of the option provided in Section 13.01 to have this
		Section 13.02 applied to the Outstanding Securities of any Defeasible Series
		and subject to the proviso to Section 13.01, the Company shall be deemed to
		have been discharged from its obligations with respect to the Outstanding
		Securities of such series as provided in this Section on and after the date the
		conditions set forth in Section 13.04 are satisfied (hereinafter called
		“Defeasance”).
		For this purpose, such Defeasance means that the Company shall be deemed to
		have paid and discharged the entire indebtedness represented by the Outstanding
		Securities of such series and to have satisfied all its other obligations under
		the Securities of such series and this Indenture insofar as the Securities of
		such series are concerned (and the Trustee, at the expense of the Company,
		shall execute proper instruments acknowledging the same), subject to the
		following which shall survive until otherwise terminated or discharged
		hereunder: (1) the rights of Holders of Securities of such series to receive,
		solely from the trust fund described in Section 13.04 and as more fully set
		forth in such Section, payments in respect of the principal of and any premium
		and interest on such Securities of such series when payments are due, (2) the
		Company’s obligations with respect to the Securities of such series under
		Sections 3.04, 3.05, 3.06, 10.02 and 10.03, (3) the rights, powers, trusts,
		duties and immunities of the Trustee hereunder and (4) this Article XIII.
		Subject to compliance with this Article XIII, the Company may exercise its
		option provided in Section 13.01 to have this Section 13.02 applied to the
		Outstanding Securities of any Defeasible Series notwithstanding the prior
		exercise of its option provided in Section 13.01 to have Section 13.03 applied
		to the Outstanding Securities of such series.

	  

	 Section
		13.03 Covenant
		Defeasance.

	  

	 Upon the
		Company’s exercise of the option provided in Section 13.01 to have this
		Section 13.03 applied to the Outstanding Securities of any Defeasible Series,
		(1) the Company shall be released from its obligations under Section 8.01, and
		Sections 10.04, 10.05, 10.08 and 10.09, and (2) the occurrence of any event
		specified in Sections 5.01(3), 5.01(4) (with respect to any of Sections 8.01,
		10.04, 10.05, 10.08 and 10.09), 5.01(5) and 5.01(8) shall be deemed not to be
		or result in an Event of Default, in each case with respect to the Outstanding
		Securities of such series as provided in this Section on and after the date the
		conditions set forth in Section 13.04 are satisfied (hereinafter called
		“Covenant
		Defeasance”).
		For this purpose, such Covenant Defeasance means that the Company may omit to
		comply with and shall have no liability in respect of any term, condition or
		limitation set forth in any such specified Section (to the extent so specified
		in the case of Section 5.01(4)), whether directly or indirectly by reason of
		any reference elsewhere herein to any such Section or by reason of any
		reference in any such Section to any other provision herein or in any other
		document, but the remainder of this Indenture and the Securities of such series
		shall be unaffected thereby.

	  

	 Section
		13.04 Conditions
		to Defeasance or Covenant Defeasance.

	  

	 The
		following shall be the conditions to application of either Section 13.02 or
		Section 13.03 to the Outstanding Securities of any Defeasible
		Series:

	 
		61
	 

	 

	 

	  

	 (1) The
		Company shall irrevocably have deposited or caused to be deposited with the
		Trustee (or another trustee that satisfies the requirements contemplated by
		Section 6.09 and agrees to comply with the provisions of this Article XIII
		applicable to it) as trust funds in trust for the purpose of making the
		following payments, specifically pledged as security for, and dedicated solely
		to, the benefit of the Holders of Outstanding Securities of such series, (A)
		money in an amount, or (B) U.S. Government Obligations that through the
		scheduled payment of principal and interest in respect thereof in accordance
		with their terms will provide, not later than one day before the due date of
		any payment, money in an amount, or (C) a combination thereof, in each case
		sufficient, in the opinion of a nationally recognized firm of independent
		public accountants expressed in a written certification thereof delivered to
		the Trustee, to pay and discharge, and which shall be applied by the Trustee
		(or any such other qualifying trustee) to pay and discharge, the principal of
		and any premium and interest on the Securities of such series on the respective
		Stated Maturities, in accordance with the terms of this Indenture and the
		Securities of such series. As used herein, “U.S.
		Government Obligation”
		means (x) any security that is (i) a direct obligation of the United States of
		America for the payment of which full faith and credit of the United States of
		America is pledged or (ii) an obligation of a Person controlled or supervised
		by and acting as an agency or instrumentality of the United States of America
		the payment of which is unconditionally guaranteed as a full faith and credit
		obligation by the United States of America, which, in either case (i) or (ii),
		is not callable or redeemable at the option of the issuer thereof, and (y) any
		depositary receipt issued by a bank (as defined in Section 3(a)(2) of the
		Securities Act of 1933, as amended) as custodian with respect to any U.S.
		Government Obligation specified in Clause (x) and held by such custodian for
		the account of the holder of such depositary receipt, or with respect to any
		specific payment of principal of or interest on any such U.S. Government
		Obligation; provided that
		(except as required by law) such custodian is not authorized to make any
		deduction from the amount payable to the holder of such depositary receipt from
		any amount received by the custodian in respect of the U.S. Government
		Obligation or the specific payment of principal or interest evidenced by such
		depositary receipt.

	  

	 (2) In the
		case of an election under Section 13.02, the Company shall have delivered to
		the Trustee an Opinion of Counsel stating that (A) the Company has received
		from, or there has been published by, the Internal Revenue Service a ruling or
		(B) since the date first set forth hereinabove, there has been a change in the
		applicable Federal income tax law, in either case (A) or (B) to the effect
		that, and based thereon such opinion shall confirm that, the Holders of the
		Outstanding Securities of such series will not recognize gain or loss for
		Federal income tax purposes as a result of the deposit, Defeasance and
		discharge to be effected with respect to the Securities of such series and will
		be subject to Federal income tax on the same amount, in the same manner and at
		the same times as would be the case if such deposit, Defeasance and discharge
		were not to occur.

	  

	 (3) In the
		case of an election under Section 13.03, the Company shall have delivered to
		the Trustee an Opinion of Counsel to the effect that the Holders of the
		Outstanding Securities of such series will not recognize gain or loss for
		Federal income tax purposes as a result of the deposit and Covenant Defeasance
		to be effected with

	 
		62
	 

	 

	 

	  

	 respect
		to the Securities of such series and will be subject to Federal income tax on
		the same amount, in the same manner and at the same times as would be the case
		if such deposit and Covenant Defeasance were not to occur.

	  

	 (4) The
		Company shall have delivered to the Trustee an Officer’s Certificate to
		the effect that the Securities of such series, if then listed on any securities
		exchange, will not be delisted as a result of such deposit.

	  

	 (5) No Event
		of Default or event that (after notice or lapse of time or both) would become
		an Event of Default shall have occurred and be continuing at the time of such
		deposit or, with regard to any Event of Default or any such event specified in
		Sections 5.01(6) and (7), at any time on or prior to the 90th day after the
		date of such deposit (it being understood that this condition shall not be
		deemed satisfied until after such 90th day).

	  

	 (6) Such
		Defeasance or Covenant Defeasance shall not cause the Trustee to have a
		conflicting interest within the meaning of the Trust Indenture Act (assuming
		all Securities are in default within the meaning of such Act).

	  

	 (7) Such
		Defeasance or Covenant Defeasance shall not result in a breach or violation of,
		or constitute a default under, any other agreement or instrument to which the
		Company is a party or by which it is bound.

	  

	 (8) The
		Company shall have delivered to the Trustee an Officer’s Certificate and
		an Opinion of Counsel, each stating that all conditions precedent with respect
		to such Defeasance or Covenant Defeasance have been complied with.

	  

	 (9) Such
		Defeasance or Covenant Defeasance shall not result in the trust arising from
		such deposit constituting an investment company within the meaning of the
		Investment Company Act of 1940, as amended, unless such trust shall be
		qualified under such Act or exempt from regulation thereunder.

	  

	 Section
		13.05 Deposited
		Money and U.S. Government Obligations to be Held in Trust; Other Miscellaneous
		Provisions.

	  

	 All
		money and U.S. Government Obligations (including the proceeds thereof)
		deposited with the Trustee or other qualifying trustee (solely for purposes of
		this Section and Section 13.06, the Trustee and any such other trustee are
		referred to collectively as the “Trustee”)
		pursuant to Section 13.04 in respect of the Securities of any Defeasible Series
		shall be held in trust and applied by the Trustee, in accordance with the
		provisions of the Securities of such series and this Indenture, to the payment,
		either directly or through any such Paying Agent (including the Company acting
		as its own Paying Agent) as the Trustee may determine, to the Holders of
		Securities of such series, of all sums due and to become due thereon in respect
		of principal and any premium and interest, but money so held in trust need not
		be segregated from other funds except to the extent required by
		law.

	  

	 The
		Company shall pay and indemnify the Trustee against any tax, fee or other
		charge imposed on or assessed against the U.S. Government Obligations deposited
		pursuant to

	 
		63
	 

	 

	 

	  

	 Section
		13.04 or the principal and interest received in respect thereof other than any
		such tax, fee or other charge that by law is for the account of the Holders of
		Outstanding Securities.

	  

	 Anything
		in this Article XIII to the contrary notwithstanding, the Trustee shall deliver
		or pay to the Company from time to time upon Company Request any money or U.S.
		Government Obligations held by it as provided in Section 13.04 with respect to
		Securities of any Defeasible Series that, in the opinion of a nationally
		recognized firm of independent public accountants expressed in a written
		certification thereof delivered to the Trustee, are in excess of the amount
		thereof that would then be required to be deposited to effect an equivalent
		Defeasance or Covenant Defeasance with respect to the Securities of such
		series.

	  

	 Section
		13.06 Reinstatement.

	  

	 If the
		Trustee or the Paying Agent is unable to apply any money in accordance with
		this Article XIII with respect to the Securities of any series by reason of any
		order or judgment of any court or governmental authority enjoining, restraining
		or otherwise prohibiting such application, then the Company’s obligations
		under this Indenture and the Securities of such series shall be revived and
		reinstated as though no deposit had occurred pursuant to this Article XIII
		with respect to Securities of such series until such time as the Trustee or
		Paying Agent is permitted to apply all money held in trust pursuant to Section
		13.05 with respect to Securities of such series in accordance with this Article
		XIII; provided,
		however, that
		if the Company makes any payment of principal of or any premium or interest on
		any Security of such series following the reinstatement of its obligations, the
		Company shall be subrogated to the rights of the Holders of Securities of such
		series to receive such payment from the money so held in trust.

	  

	 ARTICLE
		XIV

	  

	 CONVERSION
		OF SECURITIES

	  

	 Section
		14.01 Applicability;
		Conversion Privilege and Conversion Price.

	  

	 Securities
		of any series which are convertible into Common Shares of the Company shall be
		convertible in accordance with their terms and (except as otherwise specified
		as contemplated by Section 3.01 for Securities of any series) in accordance
		with this Article.

	  

	 Subject
		to and upon compliance with the provisions of this Article, at the option of
		the Holder thereof, any Security or any portion of the outstanding principal
		amount thereof which is $1,000 or an integral multiple of $1,000 may be
		converted at the principal amount thereof, or of such portion thereof, into
		fully paid and nonassessable Common Shares (calculated as to each conversion to
		the nearest 1/100 of a share) of the Company at the conversion price,
		determined as hereinafter provided, in effect at the time of conversion. Such
		conversion right shall expire at the close of business on the date specified
		for Securities of such series. In case a Security or portion thereof is called
		for redemption at the election of the Company, such conversion right in respect
		of the Security or portion so called shall expire at the close of business on
		the 10th calendar day before the Redemption Date, unless the Company defaults
		in making the payment due upon redemption.

	 
		64
	 

	 

	 

	  

	 The
		price at which Common Shares shall be delivered upon conversion (herein called
		the “conversion price”) shall be the price specified in relation to
		Securities of such series pursuant to Section 3.01, as it shall be adjusted in
		certain instances as provided in this Article.

	  

	 Section
		14.02 Exercise
		of Conversion Privilege.

	  

	 In order
		to exercise the conversion privilege, the Holder of any Security to be
		converted shall surrender such Security, duly endorsed or assigned to the
		Company or in blank, at any office or agency of the Company maintained for that
		purpose pursuant to Section 10.02, accompanied by written notice to the Company
		(which shall be substantially in the form set forth in Section 2.03) at such
		office or agency that the Holder elects to convert such Security or, if less
		than the entire principal amount thereof is to be converted, the portion
		thereof to be converted. Securities surrendered for conversion during the
		period from the close of business on any Regular Record Date next preceding any
		Interest Payment Date to the opening of business on such Interest Payment Date
		shall (except in the case of Securities or portions thereof which have been
		called for redemption on a Redemption Date within such period) be accompanied
		by payment in funds acceptable to the Company of an amount equal to the
		interest payable on such Interest Payment Date on the principal amount of
		Securities being surrendered for conversion. Subject to the provisions of
		Section 3.07 relating to the payment of Defaulted Interest by the Company, the
		interest payment with respect to a Security called for redemption on a
		Redemption Date during the period from the close of business on any Regular
		Record Date next preceding any Interest Payment Date to the opening of business
		on such Interest Payment Date shall be payable on such Interest Payment Date to
		the Holder of such Security at the close of business on such Regular Record
		Date notwithstanding the conversion of such Security after such Regular Record
		Date and prior to such Interest Payment Date, and the Holder converting such
		Security need not include a payment of such interest payment amount upon
		surrender of such Security for conversion. Except as provided in the preceding
		sentence and subject to the final paragraph of Section 3.07, no payment or
		adjustment shall be made upon any conversion on account of any interest accrued
		on the Securities surrendered for conversion or on account of any dividends on
		the Common Shares issued upon conversion.

	  

	 Securities
		shall be deemed to have been converted immediately prior to the close of
		business on the day of surrender of such Securities for conversion in
		accordance with the foregoing provisions, and at such time the rights of the
		Holders of such Securities as Holders shall cease, and the Person or Persons
		entitled to receive the Common Shares issuable upon conversion shall be treated
		for all purposes as the record holder or holders of such Common Shares at such
		time. As promptly as practicable on or after the conversion date, the Company
		shall issue and shall deliver at such office or agency a certificate or
		certificates for the number of full Common Shares issuable upon conversion,
		together with payment in lieu of any fraction of a share, as provided in
		Section 14.03.

	  

	 In the
		case of any Security which is converted in part only, upon such conversion the
		Company shall execute and the Trustee shall authenticate and deliver to the
		Holder thereof, at the expense of the Company, a new Security or Securities of
		authorized denominations in aggregate principal amount equal to the unconverted
		portion of the principal amount of such Security.

	 
		65
	 

	 

	 

	  

	 Section
		14.03 Fractions
		of Shares.

	  

	 No
		fractional Common Shares shall be issued upon conversion of Securities. If more
		than one Security shall be surrendered for conversion at one time by the same
		Holder, the number of full shares which shall be issuable upon conversion
		thereof shall be computed on the basis of the aggregate principal amount of the
		Securities (or specified portions thereof) so surrendered. Instead of any
		fractional Common Share which would otherwise be issuable upon conversion of
		any Security or Securities (or specified portions thereof), the Company shall
		pay a cash adjustment in respect of such fraction in an amount equal to the
		same fraction of the daily closing price per Common Share (consistent with
		Section 14.04(6) below) at the close of business on the day of
		conversion.

	 

	 Section
		14.04 Adjustment
		of Conversion Price.

	  

	 (1) In case
		the Company shall pay or make a dividend or other distribution on any class of
		capital stock of the Company in Common Shares, the conversion price in effect
		at the opening of business on the day following the date fixed for
		determination of shareholders entitled to receive such dividend or other
		distribution shall be reduced by multiplying such conversion price by a
		fraction of which the numerator shall be the number of Common Shares
		outstanding at the close of business on the date fixed for such determination
		and the denominator shall be the sum of such number of shares and the total
		number of shares constituting such dividend or other distribution, such
		reduction to become effective immediately after the opening of business on the
		day following the date fixed for such determination. For the purposes of this
		paragraph (1), the number of Common Shares at any time outstanding shall not
		include shares held in the treasury of the Company but shall include shares
		issuable in respect of scrip certificates issued in lieu of fractions of Common
		Shares. The Company will not pay any dividend or make any distribution on
		Common Shares held in the treasury of the Company.

	  

	 (2) In case
		the Company shall issue rights or warrants to all holders of its Common Shares
		entitling them to subscribe for or purchase Common Shares at a price per share
		less than the current market price per Common Share (determined as provided in
		paragraph (6) of this Section) on the date fixed for the determination of
		shareholders entitled to receive such rights or warrants (other than pursuant
		to a dividend reinvestment plan), the conversion price in effect at the opening
		of business on the day following the date fixed for such determination shall be
		reduced by multiplying such conversion price by a fraction of which the
		numerator shall be the number of Common Shares outstanding at the close of
		business on the date fixed for such determination plus the number of Common
		Shares which the aggregate of the offering price of the total number of Common
		Shares so offered for subscription or purchase would purchase at such current
		market price and the denominator shall be the number of Common Shares
		outstanding at the close of business on the date fixed for such determination
		plus the number of Common Shares so offered for subscription or purchase, such
		reduction to become effective immediately after the opening of business on the
		day following the date fixed for such determination. For the purposes of this
		paragraph (2), the number of Common Shares at any time outstanding shall not
		include shares held in the treasury of the Company but shall include shares
		issuable in respect of scrip certificates issued in lieu of

	 
		66
	 

	 

	 

	  

	 fractions
		of Common Shares. The Company will not issue any rights or warrants in respect
		of Common Shares held in the treasury of the Company.

	  

	 (3) In case
		outstanding Common Shares shall be subdivided into a greater number of Common
		Shares, the conversion price in effect at the opening of business on the day
		following the day upon which such subdivision becomes effective shall be
		proportionately reduced, and, conversely, in case outstanding Common Shares
		shall each be combined into a smaller number of Common Shares, the conversion
		price in effect at the opening of business on the day following the day upon
		which such combination becomes effective shall be proportionately increased,
		such reduction or increase, as the case may be, to become effective immediately
		after the opening of business on the day following the day upon which such
		subdivision or combination becomes effective.

	  

	 (4) In case
		the Company shall, by dividend or otherwise, distribute to all holders of its
		Common Shares evidences of its indebtedness or assets (including securities,
		but excluding any rights or warrants referred to in paragraph (2) of this
		Section, any dividend or distribution paid in cash out of the earned surplus of
		the Company and any dividend or distribution referred to in paragraph (1) of
		this Section), the conversion price shall be adjusted so that the same shall
		equal the price determined by multiplying the conversion price in effect
		immediately prior to the close of business on the date fixed for the
		determination of shareholders entitled to receive such distribution by a
		fraction of which the numerator shall be the current market price per Common
		Share (determined as provided in paragraph (6) of this Section) on the date
		fixed for such determination less the then fair market value (as determined by
		the Board of Directors, whose determination shall be conclusive and described
		in a Board Resolution filed with the Trustee) of the portion of the assets or
		evidences of indebtedness so distributed applicable to one Common Share and the
		denominator shall all be such current market price per Common Share, such
		adjustment to become effective immediately prior to the opening of business on
		the day following the date fixed for the determination of shareholders entitled
		to receive such distribution. 

	  

	 (5) The
		reclassification of Common Shares into securities other than Common Shares
		(other than any reclassification upon a consolidation or merger to which
		Section 14.11 applies) shall be deemed to involve (a) a distribution of such
		securities other than Common Shares to all holders of Common Shares (and the
		effective date of such reclassification shall be deemed to be “the date
		fixed for the determination of shareholders entitled to receive such
		distribution” and the “date fixed for such determination” within
		the meaning of paragraph (4) of this Section), and (b) a subdivision or
		combination, as the case may be, of the number of Common Shares outstanding
		immediately prior to such reclassification into the number of Common Shares
		outstanding immediately thereafter (and the effective date of such
		reclassification shall be deemed to be “the day upon which such
		subdivision becomes effective” or “the day upon which such
		combination becomes effective”, as the case may be, such “the day
		upon which such subdivision or combination becomes effective” within the
		meaning of paragraph (3) of this Section).

	 
		67
	 

	 

	 

	  

	 (6) For the
		purpose of any computation under paragraphs (2) and (4) of this Section, the
		current market price per Common Share on any day shall be deemed to be the
		average of the daily closing prices for the five consecutive trading days
		(i.e.,
		Business Days on which the Common Shares are traded) selected by the Board of
		Directors commencing not more than 20 trading days before, and ending not later
		than, the earlier of the day in question and the day before the “ex”
		date with respect to the issuance or distribution requiring such computation.
		For this purpose, the term “‘ex’ date”, when used with
		respect to any issuance or distribution, shall mean the first date on which the
		Common Shares trade regular way on the applicable exchange or in the applicable
		market without the right to receive such issuance or distribution. The closing
		price for each day shall be the reported last sale price regular way or, in
		case no such reported sale takes place on such day, the average of the reported
		closing bid and asked prices regular way, in either case on the New York Stock
		Exchange or, if the Common Shares are not listed or admitted to trading on such
		Exchange, on the principal national securities exchange on which the Common
		Shares are listed or admitted to trading or, if not listed or admitted to
		trading on any national securities exchange, on the Nasdaq Stock Market or, if
		the Common Shares are not listed or admitted to trading on any national
		securities exchange or quoted on the Nasdaq Stock Market, the average of the
		closing bid and asked prices in the over-the-counter market as furnished by any
		New York Stock Exchange member firm selected from time to time by the Board of
		Directors for that purpose.

	  

	 (7) The
		Company may make such reductions in the conversion price, in addition to those
		required by paragraphs (1), (2), (3) and (4) of this Section, as it considers
		to be advisable in order to avoid or diminish any income tax to any holders of
		Common Shares resulting from any dividend or distribution of stock or issuance
		of rights or warrants to purchase or subscribe for stock or from any event
		treated as such for income tax purposes or for any other reasons. The Company
		shall have the power to resolve any ambiguity or correct any error in this
		paragraph (7) and its actions in so doing shall be final and
		conclusive.

	  

	 (8) No
		adjustment in the conversion price shall be required unless such adjustment
		would require an increase or decrease of at least one percent in such
		conversion price; provided,
		however, that
		any adjustments which by reason of this paragraph (8) is not required to be
		made shall be carried forward and taken into account in any subsequent
		adjustment. All calculations under this Article shall be made to the nearest
		cent or to the nearest 1/100 of a share, as the case may be.

	  

	 Section
		14.05 Notice
		of Adjustments of Conversion Price.

	  

	 Whenever
		the conversion price is adjusted as herein provided:

	  

	 
			 	
				(a)

					
				the
				  Company shall compute the adjusted conversion price in accordance with Section
				  14.04 and shall prepare a certificate signed by the Treasurer of the Company
				  setting forth the adjusted conversion price and showing in reasonable detail
				  the facts upon which such adjustment is based, and such certificate shall
				  forthwith be filed at each office or agency maintained for the purpose of
				  conversion of Securities pursuant to Section 10.02; and
 

 

	 
		68
	 

	 

	 

	  

	 
			 	
				(b)

					
				a notice
				  stating that the conversion price has been adjusted and setting forth the
				  adjusted conversion price shall forthwith be required, and as soon as
				  practicable after it is required, such notice shall be mailed by the Company to
				  all Holders at their last addresses as they shall appear in the Security
				  Register.
 

 

	 

	 Section
		14.06 Notice
		of Certain Corporate Action.

	  

	 In
		case:

	  

	 
			 	
				(a)

					
				the
				  Company shall declare a dividend (or any other distribution) on its Common
				  Shares payable otherwise than in cash out of its earned surplus;
				  or
 

 

	 

	 
			 	
				(b)

					
				the
				  Company shall authorize the granting to the holders of its Common Shares of
				  rights or warrants to subscribe for or purchase any shares of capital stock of
				  any class or of any other rights; or
 

 

	 

	 
			 	
				(c)

					
				of any
				  reclassification of the Common Shares of the Company (other than a subdivision
				  or combination of its outstanding Common Shares), or of any consolidation,
				  merger or share exchange to which the Company is a party and for which approval
				  of any shareholders of the Company is required, or of the sale or transfer of
				  all or substantially all of the assets of the Company; or
 

 

	 

	 
			 	
				(d)

					
				of the
				  voluntary or involuntary dissolution, liquidation or winding up of the
				  Company;
 

 

	 

	 
		
		  then the
			 Company shall cause to be filed at each office or agency maintained for the
			 purpose of conversion of Securities pursuant to Section 10.02, and shall cause
			 to be mailed to all Holders at their last addresses as they shall appear in the
			 Security Register, at least 20 days (or 10 days in any case specified in clause
			 (a) or (b) above) prior to the applicable record or effective date hereinafter
			 specified, a notice stating (x) the date on which a record is to be taken for
			 the purpose of such dividend, distribution, rights or warrants, or, if a record
			 is not to be taken, the date as of which the holders of Common Shares of record
			 to be entitled to such dividend, distribution, rights or warrants are to be
			 determined, or (y) the date on which such reclassification, consolidation,
			 merger, share exchange, sale, transfer, dissolution, liquidation or winding up
			 is expected to become effective, and the date as of which it is expected that
			 holders of Common Shares of record shall be entitled to exchange their Common
			 Shares for securities, cash or other property deliverable upon such
			 reclassification, consolidation, merger, share exchange, sale, transfer,
			 dissolution, liquidation or winding up. Neither the failure to give such notice
			 nor any defect therein shall affect the legality or validity of the proceedings
			 described in clauses (a) through (d) of this Section 14.06. If at the time the
			 Trustee shall not be the conversion agent, a copy of such notice shall also
			 forthwith be filed by the Company with the Trustee.
 
 

	 

	 
		Not less
		  than seven days prior to any date fixed for the determination of shareholders
		  entitled to receive such distribution, the Company shall cause to
		  be

		
		  69
		

		

		

		 

		filed at
		  each office or agency maintained for the purpose of conversion of Securities
		  pursuant to Section 10.02, and shall cause to be mailed to all Holders at their
		  last addresses as they shall appear in the Security Register, a notice stating
		  the date on which the such determination is to be made, and briefly describing
		  the import thereof. If at the time the Trustee shall not be the conversion
		  agent, a copy of such notice shall also forthwith be filed by the Company with
		  the Trustee.
 

	 

	 Section
		14.07 Company
		to Reserve Common Shares.

	  

	 The
		Company shall at all times reserve and keep available out of its authorized but
		unissued Common Shares, for the purpose of effecting the conversion of
		Securities, the full number of Common Shares then issuable upon the conversion
		of all Outstanding Securities which are convertible into Common
		Shares.

	 

	 Section
		14.08 Taxes
		on Conversions.

	  

	 The
		Company will pay any and all taxes that may be payable in respect of the issue
		or delivery of Common Shares on conversion of Securities pursuant hereto. The
		Company shall not, however, be required to pay any tax which may be payable in
		respect of any transfer involved in the issue and delivery of Common Shares in
		a name other than that of the Holder of the Security or Securities to be
		converted, and no such issue or delivery shall be made unless and until the
		Person requesting such issue has paid to the Company the amount of any such
		tax, or has established to the satisfaction of the Company that such tax has
		been paid.

	  

	 Section
		14.09 Covenant
		as to Common Shares.

	  

	 The
		Company covenants that all Common Shares which may be issued upon conversion of
		Securities will upon issue be fully paid and nonassessable and, except as
		provided in Section 14.08, the Company will pay all taxes, liens and charges
		with respect to the issue thereof.

	  

	 Section
		14.10 Cancellation
		of Converted Securities.

	  

	 All
		Securities delivered for conversion shall be delivered to the Trustee to be
		cancelled by or at the direction of the Trustee, which shall dispose of the
		same as provided in Section 3.09.

	  

	 Section
		14.11 Provisions
		in Case of Consolidation, Merger or Sale of Assets.

	  

	 In case
		of any consolidation of the Company with, or merger of the Company into, any
		other Person, any merger of another Person into the Company (other than a
		merger which does not result in any reclassification, conversion, exchange or
		cancellation of outstanding Common Shares of the Company) or any sale or
		transfer of all or substantially all of the assets of the Company, the Person
		formed by such consolidation or resulting from such merger or which acquires
		such assets, as the case may be, shall execute and deliver to the Trustee a
		supplemental indenture providing that the Holder of each convertible Security
		then outstanding shall have the right thereafter, during the period such
		Security shall be convertible as specified in Section 14.01, to convert such
		Security only into the kind and amount of securities, cash and
		other

	 
		70
	 

	 

	 

	  

	 property
		receivable upon such consolidation, merger, sale or transfer by a holder of the
		number of Common Shares of the Company into which such Security might have been
		converted immediately prior to such consolidation, merger, sale or transfer,
		assuming such holder of Common Shares of the Company failed to exercise his
		rights of election, if any, as to the kind or amount of securities, cash and
		other property receivable upon such consolidation, merger, sale or transfer
		(provided that if the kind or amount of securities, cash and other property
		receivable upon such consolidation, merger, sale or transfer is not the same
		for each Common Share of the Company in respect of which such rights of
		election shall not have been exercised (“non-electing share”), then
		for the purpose of this Section the kind and amount of securities, cash and
		other property receivable upon such consolidation, merger, sale or transfer by
		each non-electing share shall be deemed to be the kind and amount so receivable
		per share by a plurality of the non-electing shares). Such supplemental
		indenture shall provide for adjustments which, for events subsequent to the
		effective date of such supplemental indenture, shall be as nearly equivalent as
		may be practicable to the adjustments provided for in this Article. The above
		provisions of this Section shall similarly apply to successive consolidations,
		mergers, sales or transfers.

	  

	 Section
		14.12 Responsibility
		of Trustee.

	  

	 Neither
		the Trustee nor any conversion agent shall at any time be under any duty or
		responsibility to any Holder of Securities to determine whether any fact exists
		which may require any adjustment of the conversion price, or with respect to
		the nature or extent of any such adjustment when made, or with respect to the
		method employed, or herein or in any supplemental indenture provided to be
		employed, in making the same. Neither the Trustee nor any conversion agent
		shall be accountable with respect to the registration, validity or value (or
		the kind or amount) of any Common Shares, or of any securities or property,
		which may at any time be issued or delivered upon the conversion of any
		Security; and neither the Trustee nor any conversion agent makes any
		representation with respect thereto. Neither the Trustee nor any conversion
		agent shall be responsible for any failure of the Company to issue or transfer
		or deliver any Common Shares or share certificates or other securities or
		property or to make any cash payment upon the surrender of any Security for the
		purpose of conversion or to comply with any of the covenants of the Company
		contained in this Article XIV.

	  

	 This
		instrument may be executed in any number of counterparts, each of which so
		executed shall be deemed to be an original, but all such counterparts shall
		together constitute but one and the same instrument.

	  

	 (Signature
		Page to Follow)

	 
		71
	 

	 

	 

	 
 

	 IN
		WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly
		executed as of the day and year first above written.

	  

	 
			 	 	 
	 	PRIMUS GUARANTY,
				LTD.
	 
 	 
 	 
 
	 	By:  	 /s/ Richard Claiden
	 	
				
Name: Richard Claiden
	 	Title:
				  Chief Financial Officer

 

	  

	 
		
		  	 	 	 
	 	DEUTSCHE BANK TRUST
				  COMPANY AMERICAS
	 
 	 
 	 
 
	 	By:  	 /s/ Wanda Camacho
	 	
				  
Name: Wanda Camacho
	 	Title:   Vice
				  President	 
	 	 	 
	 	By:  	 /s/ Richard Buckwalter
	 	
				  
Name: Richard Buckwalter
	 	Title:   Vice
				  President

 
 

	  

	 [Signature
		Page to Senior Indenture]

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