Document:

exv10w3

Exhibit 10.3

EMPLOYMENT AGREEMENT

     This EMPLOYMENT AGREEMENT, dated as of November 15, 2011 (this “Agreement”), is by and
between McJunkin Red Man Holding Corporation, a Delaware corporation (the “Company”), and
James E. Braun (the “Executive,” together with the Company, the “Parties”).

     WHERAS, the Company desires to employ the Executive as its Executive Vice President and Chief
Financial Officer; and

     WHEREAS, the Executive desires to serve as the Company’s Executive Vice President and Chief
Financial Officer on the terms and conditions set forth in this Agreement.

     NOW, THEREFORE, in consideration of the mutual covenants contained herein and other valid
consideration, the sufficiency of which is acknowledged, the Parties hereto agree as follows:

     Section 1. Employment.

     1.1. Term. The Company agrees to employ the Executive and the Executive agrees to be
employed by the Company, in each case pursuant to this Agreement, for a period ending on the
earlier to occur of (i) the third (3rd) anniversary of the date hereof and (ii) the termination of
the Executive’s employment in accordance with Section 3 hereof (the “Term”).

     1.2. Duties. During the Term, the Executive shall serve as the Company’s Executive
Vice President and Chief Financial Officer and in such other positions as an officer or director of
the Company and such affiliates of the Company as the Executive and the board of directors of the
Company (the “Board”) shall mutually agree from time to time. In such positions, the
Executive shall perform such duties, functions and responsibilities during the Term commensurate
with the Executive’s positions as reasonably directed by the Chief Executive Officer of the Company
(the “CEO”).

     1.3. Exclusivity. During the Term, and excluding any periods of vacation and sick leave to
which the Executive is entitled, the Executive shall devote his full time and attention to the
business and affairs of the Company, shall faithfully serve the Company, and shall in all material
respects conform to and comply with the lawful and reasonable directions and instructions given to
him by the CEO, consistent with Section 1.2 hereof. During the Term, the Executive shall use his
best efforts to promote and serve the interests of the Company and shall not engage in any other
business activity, whether or not such activity shall be engaged in for pecuniary profit;
provided, however, that it shall not be a violation of this Agreement for the Executive to
engage in other outside business activities with the Board’s prior written consent.

     Section 2. Compensation.

     2.1. Salary. As compensation for the performance of the Executive’s services
hereunder, during the Term, the Company shall pay to the Executive a salary at an annual rate of
Four Hundred Twenty-Five Thousand Dollars ($425,000), payable in accordance with the

 

 

Company’s standard payroll policies (the “Base Salary”). The Base Salary will be
reviewed annually and may be adjusted upward by the Board (or a committee thereof) in its
discretion, based on competitive data and the Executive’s performance. No increase in Base Salary
shall limit or reduce any other right or obligation to the Executive under this Agreement and the
Base Salary shall not be reduced at any time (including after any such increase).

     2.2. Annual Bonus. Beginning with the fiscal year that commences on January 1, 2012,
for each completed fiscal year occurring during the Term, the Executive shall be eligible to
receive additional cash incentive compensation pursuant to the annual bonus plan of the Company in
effect at the relevant time (the “Annual Bonus”). The Executive’s target Annual Bonus shall
be sixty-seven percent (67%) of the Executive’s Base Salary as in effect at the beginning of the
relevant fiscal year, with the actual Annual Bonus to be based upon such individual and/or Company
performance criteria established for each such fiscal year by the Board in consultation with the
CEO. In respect of fiscal year 2011, the Executive shall be eligible to receive a pro rata bonus
calculated based on actual performance through the end of the 2011 fiscal year and the number of
days that the Executive was employed by the Company during such year.

     2.3. Equity Awards. Subject to the approval of the board of directors of the Company,
at its November 2011 meeting, the Executive shall be granted stock options in respect of shares of
common stock of the Company, with an aggregate grant date value of $3 Million Dollars ($3,000,000),
and with an exercise price per share equal to the fair market value of a share of common stock of
the Company as of the date of grant. All such stock options shall become vested over time in equal
installments on the third (3rd), fourth (4th) and fifth (5th) anniversaries of the date of grant,
conditioned on continued employment through each applicable vesting date and subject to accelerated
vesting under certain circumstances. In addition, in the future the Executive may be granted
additional equity awards in respect of shares of common stock of the Company, as determined by the
board of directors in its sole discretion from time to time.

     2.4. Employee Benefits. During the Term, the Executive shall be eligible to
participate in such health and other group insurance and other employee benefit plans and programs
of the Company as in effect from time to time on the same basis as other senior executives of the
Company.

     2.5. Vacation. For each full calendar year during the Term, the Executive shall be
entitled to four (4) weeks of paid vacation.

     2.6. Business Expenses. The Company shall pay or reimburse the Executive for all
commercially reasonable business out-of-pocket expenses that the Executive incurs during the Term
in performing his duties under this Agreement upon presentation of documentation and in accordance
with the expense reimbursement policy of the Company as approved by the Board (or a committee
thereof) and in effect from time to time.

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     Section 3. Employment Termination.

     3.1. Termination of Employment. The Company may terminate the Executive’s employment
for any reason during the Term, and the Executive may voluntarily terminate his employment for any
reason during the Term, in each case (other than a termination by the Company for Cause) at any
time upon not less than thirty (30) days’ notice to the other party. Upon the termination of the
Executive’s employment with the Company for any reason, the Executive shall be entitled to any Base
Salary earned but unpaid through the date of termination, any earned but unpaid Annual Bonus for
completed fiscal years, and any unreimbursed expenses in accordance with Section 2.6 hereof and, to
the extent not theretofore paid or provided, any other amounts or benefits required to be paid or
provided under any plan, program, policy or practice or other contract or agreement of the Company
and its affiliated companies through the date of termination of employment (collectively, the
“Accrued Amounts”).

     3.2. Certain Terminations.

     (a) Termination by the Company other than for Cause or Disability; Termination by
the Executive for Good Reason. If the Executive’s employment is terminated during the
Term (i) by the Company other than for Cause or Disability or (ii) by the Executive for Good
Reason, in addition to the Accrued Amounts the Executive shall be entitled to the following
payments and benefits: (x) the continuation of his Base Salary at the rate in effect
immediately prior to the date of termination for a period of twelve (12) months
(“Severance Payments”), (y) the continuation on the same terms as an active senior
executive of medical benefits the Executive would otherwise be eligible to receive as an
active senior executive of the Company for twelve (12) months or until such earlier time as
the Executive becomes eligible for medical benefits from a subsequent employer and (z) a pro
rata Annual Bonus for the fiscal year in which the termination occurs, based on the
Company’s actual performance through the end of such fiscal year and the number of days the
Executive was employed during such fiscal year (the “Pro Rata Annual Bonus Payment”)
((x), (y) and (z) collectively referred to as the “Severance Benefits”). The
Company’s obligations to pay and provide the Severance Benefits shall be conditioned upon:
(i) the Executive’s continued compliance with his obligations under Section 4 of this
Agreement and (ii) the Executive’s execution, delivery and non-revocation of a valid and
enforceable general release of claims (the “Release”) in the form attached hereto as
Exhibit A. In the event that the Executive breaches any of the covenants set forth
in Section 4 of this Agreement, the Executive will immediately return to the Company any
portion of the Severance Benefits that have been paid to the Executive pursuant to this
Section 3.2(a). Subject to Section 3.2(d), the Severance Payments will commence to be paid
to the Executive on the sixtieth (60th) day following the termination of the
Executive’s employment, provided that the Release has been executed, delivered and has
become irrevocable as of such date. The Pro Rata Annual Bonus Payment will be paid at the
time the Company ordinarily pays incentive bonuses to its executives.

     (b) Termination upon Death or Disability. If the Executive’s employment is
terminated due to the Executive’s death or Disability, in addition to the Accrued

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Amounts,
the Executive (or the Executive’s estate, if applicable) shall be entitled to receive a Pro
Rata Annual Bonus Payment.

     (c) Definitions. For purposes of this Section 3.2, the following terms shall
have the following meanings:

     (1) “Cause” shall mean the Executive’s (i) continuing failure, for more
than 10 days after the Company’s written notice to the Executive thereof, to perform
such duties as are reasonably requested by the Company; (ii) failure to observe
material policies generally applicable to officers or employees of the Company
unless such failure is capable of being cured and is cured within 10 days of the
Executive receiving written notice of such failure; (iii) failure to cooperate with
any internal investigation of the Company; (iv) commission of any act of fraud,
theft or financial dishonesty with respect to the Company or indictment or
conviction of any felony; (v) material violation of the provisions of this Agreement
unless such violation is capable of being cured and is cured within 10 days of the
Executive receiving written notice of such violation; (vi) chronic absenteeism; or
(vii) abuse of alcohol or another controlled substance.

     (2) “Disability” shall mean the Executive is entitled to receive
long-term disability benefits under the long-term disability plan of the Company in
which Executive participates, or, if there is no such plan, the Executive’s
inability, due to physical or mental ill health, to perform the essential functions
of the Executive’s job, with or without a reasonable accommodation, for 180 days
during any 365 day period irrespective of whether such days are consecutive.

     (3) “Good Reason” shall mean (i) a material and adverse change in the
Executive’s duties or responsibilities, or (ii) a reduction in the Executive’s Base
Salary or target Annual Bonus.

     (d) Section 409A Specified Employee. If the Executive is a “specified
employee” for purposes of Section 409A of the United States Internal Revenue Code of 1986,
as amended (the “Code”), and the regulations thereunder, to the extent required to
comply with Section 409A of the Code, any Severance Benefits required to be made pursuant to
Section 3.2(a) which are subject to Section 409A of the Code shall not commence until one
day after the day which is six (6) months from the date of termination, with the first
payment equaling six (6) months of his Base Salary at the rate in effect immediately prior
to the date of termination. For purposes of this Agreement, the Executive’s employment with
the Company shall be considered to have terminated when the Executive incurs a “separation
from service” with the Company within the meaning of Section 409A(a)(2)(A)(i) of the Code,
and applicable administrative guidance issued thereunder.

     3.3. Exclusive Remedy. The foregoing payments and benefits upon termination of the
Executive’s employment shall constitute the exclusive severance benefits due the Executive upon a
termination of his employment under this Agreement.

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     3.4. Resignation from All Positions. Upon the termination of the Executive’s
employment with the Company for any reason, the Executive shall be deemed to have resigned, as of
the date of such termination, from all positions he then holds as an officer, director, employee
and member of the Board (and any committee thereof) and the board of directors (and any committee
thereof) of any of the Company’s affiliates.

     3.5. Cooperation. Following the termination of the Executive’s employment with the
Company for any reason, the Executive agrees to reasonably cooperate with the Company upon
reasonable request of the Board and to be reasonably available to the Company with respect to
matters arising out of the Executive’s services to the Company and its subsidiaries. The Company
shall pay the Executive a reasonable fee for any such services and promptly reimburse the Executive
for expenses reasonably incurred in connection with such matters.

	 	Section 4.	 	 Unauthorized Disclosure; Non-Competition; Non-Solicitation;
Interference with Business Relationships; Proprietary Rights.

     4.1. Unauthorized Disclosure. The Executive agrees and understands that in the
Executive’s position with the Company, the Executive will be exposed to and will receive
information relating to the confidential affairs of the Company and its affiliates, including,
without limitation, technical information, intellectual property, business and marketing plans,
strategies, customer information, software, other information concerning the products, promotions,
development, financing, expansion plans, business policies and practices of the Company and its
affiliates and other forms of information considered by the Company and its affiliates to be
confidential or in the nature of trade secrets (including, without limitation, ideas, research and
development, know-how, formulas, technical data, designs, drawings, specifications, customer and
supplier lists, pricing and cost information and business and marketing plans and proposals)
(collectively, the “Confidential Information”). The Executive agrees that at all times
during the Executive’s employment with the Company and thereafter, the Executive shall not disclose
such Confidential Information, either directly or indirectly, to any individual, corporation,
partnership, limited liability company, association, trust or other entity or organization,
including a government or political subdivision or an agency or instrumentality thereof (each a
“Person”) other than in connection with the Executive’s employment with the Company without
the prior written consent of the Company and shall not use or attempt to use any such information
in any manner other than in connection with his employment with the Company, unless required by law
to disclose such information, in which case the Executive shall provide the Company with written
notice of such requirement as far in advance of such anticipated disclosure as possible. This
confidentiality covenant has no temporal, geographical or territorial restriction. Upon
termination of the Executive’s employment with the Company, the Executive shall promptly supply to
the Company all property, keys, notes, memoranda, writings, lists, files, reports, customer lists,
correspondence, tapes, disks, cards, surveys, maps, logs, machines, technical data and any other
tangible product or document which has been produced by, received by or otherwise submitted to the
Executive during the Executive’s
employment with the Company, and any copies thereof in his (or capable of being reduced to
his) possession; provided, however, that the Executive may retain his full rolodex or
similar address and telephone directories.

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     4.2. Non-Competition. By and in consideration of the Company’s entering into this
Agreement and the payments to be made and the benefits to be provided hereunder and in further
consideration of the Executive’s exposure to the Confidential Information of the Company and its
affiliates, the Executive agrees that the Executive shall not, during the Executive’s employment
with the Company (whether during the Term or thereafter) and for a period of twelve (12) months
thereafter (the “Restriction Period”), directly or indirectly, own, manage, operate, join,
control, be employed by, or participate in the ownership, management, operation or control of, or
be connected in any manner with, including, without limitation, holding any position as a
stockholder, director, officer, consultant, independent contractor, employee, partner, or investor
in, any Restricted Enterprise (as defined below) and in connection with the Executive’s association
directly or indirectly engage in any activity that is similar to any activity that the Executive
was engaged in with the Company during the 12 months preceding the date of termination;
provided, that in no event shall ownership of one percent (1%) or less of the outstanding
securities of any class of any issuer whose securities are registered under the Securities Exchange
Act of 1934, as amended, standing alone, be prohibited by this Section 4.2, so long as the
Executive does not have, or exercise, any rights to manage or operate the business of such issuer
other than rights as a stockholder thereof. For purposes of this paragraph, “Restricted
Enterprise” shall mean any Person that is actively engaged in any geographic area in any
business which is either (i) in competition with the business of the Company or any of its
subsidiaries or affiliates or (ii) proposed to be conducted by the Company or any of its
subsidiaries or affiliates in their respective business plans as in effect at that time. During
the Restriction Period, upon request of the Company, the Executive shall notify the Company of the
Executive’s then-current employment status.

     4.3. Non-Solicitation of Employees. During the Restriction Period, the Executive
shall not directly or indirectly contact, induce or solicit (or assist any Person to contact,
induce or solicit) for employment any person who is, or within twelve (12) months prior to the date
of such solicitation was, an employee of the Company or any of its affiliates.

     4.4. Interference with Business Relationships. During the Restriction Period (other
than in connection with carrying out his responsibilities for the Company and its affiliates), the
Executive shall not directly or indirectly contact, induce or solicit (or assist any Person to
contact, induce or solicit) any customer or client of the Company or its subsidiaries to terminate
its relationship or otherwise cease doing business in whole or in part with the Company or its
subsidiaries, or directly or indirectly interfere with (or assist any Person to interfere with) any
material relationship between the Company or its subsidiaries and any of its or their customers or
clients so as to cause harm to the Company or its affiliates.

     4.5. Extension of Restriction Period. The Restriction Period shall be tolled for any
period during which the Executive is in breach of any of Sections 4.2, 4.3 or 4.4 hereof.

     4.6. Proprietary Rights. The Executive shall disclose promptly to the Company any and
all inventions, discoveries, and improvements (whether or not patentable or registrable under
copyright or similar statutes), and all patentable or copyrightable works, initiated, conceived,
discovered, reduced to practice, or made by him, either alone or in conjunction with others, during
the Executive’s employment with the Company and related to the business or activities of

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the
Company and its affiliates (the “Developments”). Except to the extent any rights in any
Developments constitute a work made for hire under the U.S. Copyright Act, 17 U.S.C. § 101, et
seq., that are owned ab initio by the Company and/or its applicable affiliate, the Executive
assigns all of his right, title and interest in all Developments (including all intellectual
property rights therein) to the Company or its nominee without further compensation, including all
rights or benefits therefore, including without limitation the right to sue and recover for past
and future infringement. The Executive acknowledges that any rights in any Developments
constituting a work made for hire under the U.S. Copyright Act, 17 U.S.C § 101, et seq., are owned
upon creation by the Company and/or its applicable affiliate as the Executive’s employer. Whenever
requested to do so by the Company, the Executive shall execute any and all applications,
assignments or other instruments which the Company shall deem necessary to apply for and obtain
trademarks, patents or copyrights of the United States or any foreign country or otherwise protect
the interests of the Company and its affiliates therein. These obligations shall continue beyond
the end of the Executive’s employment with the Company with respect to inventions, discoveries,
improvements or copyrightable works initiated, conceived or made by the Executive while employed by
the Company, and shall be binding upon the Executive’s employers, assigns, executors,
administrators and other legal representatives. In connection with his execution of this
Agreement, the Executive has informed the Company in writing of any interest in any inventions or
intellectual property rights that he holds as of the date hereof as set forth on Exhibit B hereto
(the “Existing Inventions”). Notwithstanding anything to the contrary herein, the
Developments shall not include any Existing Inventions. If the Company is unable for any reason,
after reasonable effort, to obtain the Executive’s signature on any document needed in connection
with the actions described in this Section 4.6, the Executive hereby irrevocably designates and
appoints the Company and its duly authorized officers and agents as the Executive’s agent and
attorney in fact to act for and on the Executive’s behalf to execute, verify and file any such
documents and to do all other lawfully permitted acts to further the purposes of this Section 4.6
with the same legal force and effect as if executed by the Executive.

     4.7. Confidentiality of Agreement. Other than with respect to information required to
be disclosed by applicable law, the Parties agree not to disclose the terms of this Agreement to
any Person; provided the Executive may disclose this Agreement and/or any of its terms to
the Executive’s immediate family, financial advisors and attorneys, so long as the Executive
instructs every such Person to whom the Executive makes such disclosure not to disclose the terms
of this Agreement further.

     4.8. Remedies. The Executive agrees that any breach of the terms of this Section 4
would result in irreparable injury and damage to the Company for which the Company would have no
adequate remedy at law; the Executive therefore also agrees that in the event of said breach or any
threat of breach, the Company shall be entitled to an immediate injunction and restraining order to
prevent such breach and/or threatened breach and/or continued breach by the Executive and/or any
and all Persons acting for and/or with the Executive, without having to
prove damages, in addition to any other remedies to which the Company may be entitled at law
or in equity, including, without limitation, the obligation of the Executive to return any
Severance Benefits paid or provided by the Company to the Executive. The terms of this paragraph
shall not prevent the Company from pursuing any other available remedies for any breach or
threatened breach hereof, including, without limitation, the recovery of damages from

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the
Executive. The Executive and the Company further agree that the provisions of the covenants
contained in this Section 4 are reasonable and necessary to protect the businesses of the Company
and its affiliates because of the Executive’s access to Confidential Information and his material
participation in the operation of such businesses.

     Section 5. Representations.

     The Executive represents and warrants that (i) he is not subject to any contract, arrangement,
policy or understanding, or to any statute, governmental rule or regulation, that in any way limits
the Executive’s ability to be employed by the Company, to enter into this Agreement or to perform
his obligations to the Company and (ii) he is not otherwise unable to enter into and fully perform
his or its obligations under this Agreement.

     Section 6. Non-Disparagement.

     The Executive agrees not to make any statement (other than statements made in connection with
carrying out his responsibilities for the Company and its affiliates) that is intended to become
public, or that should reasonably be expected to become public, and that criticizes, ridicules,
disparages or is otherwise derogatory of the Company or any of its subsidiaries, affiliates,
employees, officers, directors or stockholders. The Company and its subsidiaries and affiliates
shall advise their officers and directors not to make any such statement regarding the Executive.

     Section 7. Withholding.

     The Company may withhold from any amounts payable under this Agreement such Federal, state
local or foreign taxes as shall be required to be withheld pursuant to any applicable law or
regulation. The Executive shall be solely responsible for the payment of all taxes relating to the
payment or provision of any amounts or benefits hereunder.

     Section 8. Miscellaneous.

     8.1. Indemnification. The Company shall indemnify the Executive to the fullest extent
provided under the Company’s By-Laws. The Company shall also maintain director and officer
liability insurance in such amounts and subject to such limitations as the Board shall, in good
faith, deem appropriate for coverage of directors and officers of the Company.

     8.2. Amendments and Waivers. This Agreement and any of the provisions hereof may be
amended, waived (either generally or in a particular instance and either retroactively or
prospectively), modified or supplemented, in whole or in part, only by written agreement signed by
the Parties; provided, that the observance of any provision of this Agreement may be waived
in writing by the party that will lose the benefit of such provision as a result of such waiver.
The
waiver by any party hereto of a breach of any provision of this Agreement shall not operate or
be construed as a further or continuing waiver of such breach or as a waiver of any other or
subsequent breach, except as otherwise explicitly provided for in such waiver. Except as otherwise
expressly provided herein, no failure on the part of any party to exercise, and no delay in
exercising, any right, power or remedy hereunder, or otherwise available in respect hereof at

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law
or in equity, shall operate as a waiver thereof, nor shall any single or partial exercise of such
right, power or remedy by such party preclude any other or further exercise thereof or the exercise
of any other right, power or remedy.

     8.3. Assignment; No Third-Party Beneficiaries. This Agreement, and the Executive’s
rights and obligations hereunder, may not be assigned by the Executive, and any purported
assignment by the Executive in violation hereof shall be null and void. Nothing in this Agreement
shall confer upon any Person not a party to this Agreement, or the legal representatives of such
Person, any rights or remedies of any nature or kind whatsoever under or by reason of this
Agreement.

     8.4. Notices. Unless otherwise provided herein, all notices, requests, demands,
claims and other communications provided for under the terms of this Agreement shall be in writing.
Any notice, request, demand, claim or other communication hereunder shall be sent by (a) personal
delivery (including receipted courier service) or overnight delivery service, (b) facsimile during
normal business hours, with confirmation of receipt, to the number indicated, (c) reputable
commercial overnight delivery service courier or (d) registered or certified mail, return receipt
requested, postage prepaid and addressed to the intended recipient as set forth below:

	 	 	 	 	 	 	 

	 

	 	If to the Company:
	 	 	 	McJunkin Red Man Holding Corporation
	 

	 	 	 	 	 	2 Houston Center, Suite 3100
	 

	 	 	 	 	 	909 Fannin Street
	 

	 	 	 	 	 	Houston, TX 77010
	 

	 	 	 	 	 	Attention: Legal Department
	 

	 	 	 	 	 	Facsimile: (713) 655-0159
	 
	 	 	 	 	 	 
	 

	 	with a copy to:
	 	 	 	Fried, Frank, Harris, Shriver & Jacobson LLP
	 

	 	 	 	 	 	One New York Plaza
	 

	 	 	 	 	 	New York, NY 10004
	 

	 	 	 	 	 	Attention: Robert C. Schwenkel and Murray Goldfarb
	 

	 	 	 	 	 	Facsimile: (212) 859-4000
	 
	 	 	 	 	 	 
	 

	 	If to the Executive:
	 	 	 	James E. Braun, at his principal office
	 

	 	 	 	 	 	at the Company (during the Term), and
	 

	 	 	 	 	 	at all times to his principal residence as
	 

	 	 	 	 	 	reflected in the records of the Company.

     All such notices, requests, consents and other communications shall be deemed to have been
given when received. Either party may change its facsimile number or its address to which
notices, requests, demands, claims and other communications hereunder are to be delivered by
giving the other Party notice in the manner then set forth.

     8.5. Governing Law. This Agreement shall be construed and enforced in accordance
with, and the rights and obligations of the Parties shall be governed by, the laws of the State of
New York, without giving effect to the conflicts of law principles thereof.

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     8.6. Severability. Whenever possible, each provision or portion of any provision of
this Agreement, including those contained in Section 4 hereof, will be interpreted in such manner
as to be effective and valid under applicable law but the invalidity or unenforceability of any
provision or portion of any provision of this Agreement in any jurisdiction shall not affect the
validity or enforceability of the remainder of this Agreement in that jurisdiction or the validity
or enforceability of this Agreement, including that provision or portion of any provision, in any
other jurisdiction. In addition, should a court or arbitrator determine that any provision or
portion of any provision of this Agreement, including those contained in Section 4 hereof, is not
reasonable or valid, either in period of time, geographical area, or otherwise, the Parties agree
that such provision should be interpreted and enforced to the maximum extent which such court or
arbitrator deems reasonable or valid.

     8.7. Entire Agreement. From and after the date hereof, this Agreement shall
constitute the entire agreement between the Parties, and supersede all prior representations,
agreements and understandings (including any prior course of dealings), both written and oral,
between the Parties with respect to the subject matter hereof.

     8.8. Counterparts. This Agreement may be executed in any number of counterparts, each
of which shall be deemed an original, but all such counterparts shall together constitute one and
the same instrument.

     8.9. Binding Effect. This Agreement shall inure to the benefit of, and be binding on,
the successors of each of the Parties, including, without limitation, the Executive’s heirs and the
personal representatives of the Executive’s estate and any successor to all or substantially all of
the business and/or assets of the Company.

     8.10. General Interpretive Principles. The name assigned this Agreement and headings
of the sections, paragraphs, subparagraphs, clauses and sub clauses of this Agreement are for
convenience of reference only and shall not in any way affect the meaning or interpretation of any
of the provisions hereof. Words of inclusion shall not be construed as terms of limitation herein,
so that references to “include”, “includes” and “including” shall not be limiting and shall be
regarded as references to non-exclusive and non-characterizing illustrations.

     8.11. Mitigation. Notwithstanding any other provision of this Agreement, (a) the
Executive will have no obligation to mitigate damages for any breach or termination of this
Agreement by the Company, whether by seeking employment or otherwise and (b) the amount of any
payment or benefit due the Executive after the date of such breach or termination will not be
reduced or offset by any payment or benefit that the Executive may receive from any other source.

     8.12. Section 409A Compliance. This Agreement is intended to comply with Section 409A
of the Code (to the extent applicable) and, to the extent it would not adversely impact the
Company, the Company agrees to interpret, apply and administer this Agreement in the least
restrictive manner necessary to comply with such requirements and without resulting in any
diminution in the value of payments or benefits to the Executive.

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

	 	 	 	 	 
	 	McJUNKIN RED MAN HOLDING CORPORATION

 	 
	 	By:  	/s/ Andrew R. Lane
 	 
	 	 	Name:  	Andrew R. Lane 	 
	 	 	Title:  	Chairman, President & 
Chief Executive Officer 	 
	 
	 	 	 
	 	 	/s/ James E. Braun
 	 
	 	 	James E. Braun 	 

[Employment Agreement with J. Braun]

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Exhibit A

Release

     1. In consideration of the payments and benefits to be made under the Employment Agreement,
dated as of November 1, 2011 (the “Employment Agreement”), to which James E. Braun (the
“Executive”) and McJunkin Red Man Holding Corporation (the “Company”) (each of the
Executive and the Company, a “Party” and collectively, the “Parties”) are parties,
the sufficiency of which the Executive acknowledges, the Executive, with the intention of binding
himself and his heirs, executors, administrators and assigns, does hereby release, remise, acquit
and forever discharge the Company and each of its subsidiaries and affiliates (the “Company
Affiliated Group”), their present and former officers, directors, executives, shareholders,
agents, attorneys, employees and employee benefit plans (and the fiduciaries thereof), and the
successors, predecessors and assigns of each of the foregoing (collectively, the “Company
Released Parties”), of and from any and all claims, actions, causes of action, complaints,
charges, demands, rights, damages, debts, sums of money, accounts, financial obligations, suits,
expenses, attorneys’ fees and liabilities of whatever kind or nature in law, equity or otherwise,
whether accrued, absolute, contingent, unliquidated or otherwise and whether now known or unknown,
suspected or unsuspected, which the Executive, individually or as a member of a class, now has,
owns or holds, or has at any time heretofore had, owned or held, arising on or prior to the date
hereof, against any Company Released Party including, but not limited to, those arising out of or
relating to (i) the Employment Agreement, (ii) the Executive’s employment with the Company or any
of its subsidiaries and affiliates, or (iii) any termination of such employment, including claims
(a) for severance or vacation benefits, unpaid wages, salary or incentive payments, (b) for breach
of contract, wrongful discharge, impairment of economic opportunity, defamation, intentional
infliction of emotional harm or other tort, (c) for any violation of applicable state and local
labor and employment laws (including, without limitation, all laws concerning unlawful and unfair
labor and employment practices) and (d) for employment discrimination under any applicable federal,
state or local statute, provision, order or regulation, and including, without limitation, any
claim under Title VII of the Civil Rights Act of 1964 (“Title VII”), the Civil Rights Act
of 1988, the Fair Labor Standards Act, the Americans with Disabilities Act (“ADA”), the
Employee Retirement Income Security Act of 1974, as amended (“ERISA”), the Age
Discrimination in Employment Act (“ADEA”), and any similar or analogous state statute,
excepting only:

     (A) rights of the Executive arising under, or preserved by, this Release or Section 3
of the Employment Agreement;

     (B) the right of the Executive to receive COBRA continuation coverage in accordance
with applicable law;

     (C) claims for benefits under any health, disability, retirement, life insurance or
other similar employee benefit plan (within the meaning of Section 3(3) of ERISA) of the
Company Affiliated Group; and

 

 

     (D) rights to indemnification the Executive has or may have under the by-laws or
certificate of incorporation of any member of the Company Affiliated Group or as an insured
under any director’s and officer’s liability insurance policy now or previously in force.

     2. The Executive acknowledges and agrees that this Release is not to be construed in any way
as an admission of any liability whatsoever by any Company Released Party, any such liability being
expressly denied.

     3. This Release applies to any relief no matter how called, including, without limitation,
wages, back pay, front pay, compensatory damages, liquidated damages, punitive damages, damages for
pain or suffering, costs, and attorneys’ fees and expenses.

     4. The Executive specifically acknowledges that his acceptance of the terms of this Release
is, among other things, a specific waiver of his rights, claims and causes of action under Title
VII, ADEA, ADA and any state or local law or regulation in respect of discrimination of any kind;
provided, however, that nothing herein shall be deemed, nor does anything contained
herein purport, to be a waiver of any right or claim or cause of action which by law the Executive
is not permitted to waive.

     5. As to rights, claims and causes of action arising under the ADEA, the Executive
acknowledges that he has been given but not utilized a period of twenty-one (21) days to consider
whether to execute this Release. If the Executive accepts the terms hereof and executes this
Release, he may thereafter, for a period of seven (7) days following (and not including) the date
of execution, revoke this Release as it relates to the release of claims arising under the ADEA.
If no such revocation occurs, this Release shall become irrevocable in its entirety, and binding
and enforceable against the Executive, on the day next following the day on which the foregoing
seven-day period has elapsed. If such a revocation occurs, the Executive shall irrevocably forfeit
any right to payment and provision of the Severance Benefits (as defined in the Employment
Agreement), but the remainder of the Employment Agreement shall continue in full force.

     6. Other than as to rights, claims and causes of action arising under the ADEA, this Release
shall be immediately effective upon execution by the Executive.

     7. The Executive acknowledges and agrees that he has not, with respect to any transaction or
state of facts existing prior to the date hereof, filed any complaints, charges or lawsuits against
any Company Released Party with any governmental agency, court or tribunal.

     8. The Executive acknowledges that he has been advised to seek, and has had the opportunity to
seek, the advice and assistance of an attorney with regard to this Release, and has been given a
sufficient period within which to consider this Release.

     9. The Executive acknowledges that this Release relates only to claims which exist as of the
date of this Release.

2

 

     10. The Executive acknowledges that the Severance Benefits he is receiving in connection with
this Release are in addition to anything of value to which the Executive is entitled from the
Company and are more than adequate consideration for the execution of this Release.

     11. Each provision hereof is severable from this Release, and if one or more provisions hereof
are declared invalid, the remaining provisions shall nevertheless remain in full force and effect.
If any provision of this Release is so broad, in scope, or duration or otherwise, as to be
unenforceable, such provision shall be interpreted to be only so broad as is enforceable.

     12. This Release constitutes the complete agreement of the Parties in respect of the subject
matter hereof and shall supersede all prior agreements between the Parties in respect of the
subject matter hereof except to the extent set forth herein.

     13. The failure to enforce at any time any of the provisions of this Release or to require at
any time performance by another party of any of the provisions hereof shall in no way be construed
to be a waiver of such provisions or to affect the validity of this Release, or any part hereof, or
the right of any party thereafter to enforce each and every such provision in accordance with the
terms of this Release.

     14. This Release may be executed in several counterparts, each of which shall be deemed to be
an original, but all of which together shall constitute one and the same instrument. Signatures
delivered by facsimile shall be deemed effective for all purposes.

     15. This Release shall be binding upon any and all successors and assigns of the Executive and
the Company.

     16. Except for issues or matters as to which federal law is applicable, this Release shall be
governed by and construed and enforced in accordance with the laws of the State of New York without
giving effect to the conflicts of law principles thereof.

[signature page follows]

3

 

     IN WITNESS WHEREOF, this Release has been signed by or on behalf of each of the Parties, all
as of ___________________________.

	 	 	 	 	 
	 	McJUNKIN RED MAN HOLDING CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	Andrew R. Lane 	 
	 	 	Title:  	Chairman, President & 

Chief Executive Officer 	 
	 
	 	 	 
	 	  	 	 
	 	 	James E. Braun 	 
	 	 	 	 

4

 

	 	 	 	 	 

Exhibit B

Existing Inventions

None.exv10w1

Exhibit 10.1

EXECUTION COPY

U.S. $812,000,000

€100,505,400

CREDIT AGREEMENT

Dated as of November 9, 2011

Among

INTERNATIONAL FLAVORS & FRAGRANCES INC.

INTERNATIONAL FLAVORS & FRAGRANCES (LUXEMBOURG) S.à.r.l.

INTERNATIONAL FLAVORS & FRAGRANCES (NEDERLAND) HOLDING B.V.

INTERNATIONAL FLAVORS & FRAGRANCES I.F.F. (NEDERLAND) B.V.

IFF LATIN AMERICAN HOLDINGS (ESPAÑA) S.L.

as Borrowers

THE INITIAL LENDERS NAMED HEREIN

as Initial Lenders

CITIBANK, N.A.

as Administrative Agent

FORTIS BANK SA/NV

and

JPMORGAN CHASE BANK, N.A.

as Syndication 

Agents

THE BANK OF TOKYO MITSUBISHI UFJ, LTD.

as Documentation Agent

and

CITIGROUP GLOBAL MARKETS INC.

BNP PARIBAS SECURITIES CORP. together with BNP PARIBAS FORTIS

and

J.P. MORGAN SECURITIES LLC

as Joint Lead Arrangers and Joint Bookrunners

1

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	Article I DEFINITIONS AND ACCOUNTING TERMS
	 	 	1	 
	 
	 	 	 	 
	SECTION 1.01. Certain Defined Terms
	 	 	1	 
	SECTION 1.02. Computation of Time Periods
	 	 	23	 
	SECTION 1.03. Accounting Terms
	 	 	23	 
	 
	 	 	 	 
	Article II AMOUNTS AND TERMS OF THE ADVANCES AND LETTERS OF CREDIT
	 	 	24	 
	 
	 	 	 	 
	SECTION 2.01. The Advances and Letters of Credit
	 	 	24	 
	SECTION 2.02. Making the Advances
	 	 	26	 
	SECTION 2.03. Issuance of and Drawings and Reimbursement Under Letters of Credit
	 	 	28	 
	SECTION 2.04. Fees
	 	 	30	 
	SECTION 2.05. Termination or Reduction of the Commitments
	 	 	31	 
	SECTION 2.06. Repayment of Advances and Letter of Credit Drawings
	 	 	31	 
	SECTION 2.07. Interest on Advances
	 	 	32	 
	SECTION 2.08. Interest Rate Determination
	 	 	33	 
	SECTION 2.09. Optional Conversion of Tranche A Revolving Credit Advances
	 	 	34	 
	SECTION 2.10. Prepayments of Advances
	 	 	35	 
	SECTION 2.11. Increased Costs
	 	 	35	 
	SECTION 2.12. Illegality
	 	 	37	 
	SECTION 2.13. Payments and Computations
	 	 	37	 
	SECTION 2.14. Taxes
	 	 	38	 
	SECTION 2.15. Sharing of Payments, Etc
	 	 	42	 
	SECTION 2.16. Evidence of Debt
	 	 	42	 
	SECTION 2.17. Use of Proceeds
	 	 	43	 
	SECTION 2.18. Increase in the Aggregate Revolving Credit Commitments
	 	 	43	 
	SECTION 2.19. Extension of Commitment Termination Date
	 	 	44	 
	SECTION 2.20. Defaulting Lenders
	 	 	45	 

1

 

	 	 	 	 	 
	 	 	Page	 
	SECTION 2.21. Mitigation Obligations; Replacement of Lenders
	 	 	47	 
	 
	 	 	 	 
	Article III CONDITIONS TO EFFECTIVENESS AND LENDING
	 	 	48	 
	 
	 	 	 	 
	SECTION 3.01. Conditions Precedent to Effectiveness of Section 2.01
	 	 	48	 
	SECTION 3.02. Initial Advance to Each Designated Subsidiary
	 	 	49	 
	SECTION 3.03. Conditions Precedent to Each Borrowing, Issuance, Commitment Increase and Commitment Extension
	 	 	49	 
	SECTION 3.04. Determinations Under Section 3.01
	 	 	50	 
	 
	 	 	 	 
	Article IV REPRESENTATIONS AND WARRANTIES
	 	 	50	 
	 
	 	 	 	 
	SECTION 4.01. Representations and Warranties of the Company
	 	 	50	 
	 
	 	 	 	 
	Article V COVENANTS OF THE COMPANY
	 	 	53	 
	 
	 	 	 	 
	SECTION 5.01. Affirmative Covenants
	 	 	53	 
	SECTION 5.02. Negative Covenants
	 	 	55	 
	SECTION 5.03. Financial Covenant
	 	 	58	 
	 
	 	 	 	 
	Article VI EVENTS OF DEFAULT
	 	 	58	 
	 
	 	 	 	 
	SECTION 6.01. Events of Default
	 	 	58	 
	SECTION 6.02. Actions in Respect of the Letters of Credit upon Default
	 	 	61	 
	 
	 	 	 	 
	Article VII GUARANTY
	 	 	62	 
	 
	 	 	 	 
	SECTION 7.01. Unconditional Guaranty
	 	 	62	 
	SECTION 7.02. Guaranty Absolute
	 	 	62	 
	SECTION 7.03. Waivers and Acknowledgments
	 	 	63	 
	SECTION 7.04. Subrogation
	 	 	64	 
	SECTION 7.05. Subordination
	 	 	64	 
	SECTION 7.06. Continuing Guaranty; Assignments
	 	 	65	 
	 
	 	 	 	 
	Article VIII THE AGENT
	 	 	65	 
	 
	 	 	 	 
	SECTION 8.01. Appointment and Authority
	 	 	65	 
	SECTION 8.02. Rights as a Lender
	 	 	65	 
	SECTION 8.03. Exculpatory Provisions
	 	 	66	 

2

 

	 	 	 	 	 
	 	 	Page	 
	SECTION 8.04. Reliance by Agent
	 	 	67	 
	SECTION 8.05. Delegation of Duties
	 	 	67	 
	SECTION 8.06. Resignation of Agent
	 	 	67	 
	SECTION 8.07. Non-Reliance on Agent and Other Lenders
	 	 	68	 
	SECTION 8.08. No Other Duties, etc
	 	 	68	 
	 
	 	 	 	 
	Article IX MISCELLANEOUS
	 	 	69	 
	 
	 	 	 	 
	SECTION 9.01. Amendments, Etc
	 	 	69	 
	SECTION 9.02. Notices, Etc
	 	 	69	 
	SECTION 9.03. No Waiver; Remedies
	 	 	71	 
	SECTION 9.04. Costs and Expenses
	 	 	71	 
	SECTION 9.05. Right of Set-off
	 	 	73	 
	SECTION 9.06. Binding Effect
	 	 	73	 
	SECTION 9.07. Assignments and Participations
	 	 	73	 
	SECTION 9.08. Confidentiality
	 	 	77	 
	SECTION 9.09. Designated Subsidiaries
	 	 	78	 
	SECTION 9.10. Governing Law; Jurisdiction; Etc
	 	 	79	 
	SECTION 9.11. Execution in Counterparts
	 	 	79	 
	SECTION 9.12. Judgment
	 	 	80	 
	SECTION 9.13. Substitution of Currency
	 	 	80	 
	SECTION 9.14. No Liability of the Issuing Banks
	 	 	80	 
	SECTION 9.15. Patriot Act Notice
	 	 	81	 
	SECTION 9.16. Power of Attorney
	 	 	81	 
	SECTION 9.17. No Fiduciary Duty
	 	 	81	 
	SECTION 9.18. Waiver of Jury Trial
	 	 	81	 

3

 

	 	 	 	 	 

	Schedules
	 	 	 	 
	 
	 	 	 	 
	Schedule I — Commitments
	 	 	 	 
	 
	 	 	 	 
	Schedule II — Mandatory Cost Formulae
	 	 	 	 
	 
	 	 	 	 
	Schedule 5.02(a) — Existing Liens
	 	 	 	 
	 
	 	 	 	 
	Exhibits
	 	 	 	 
	 
	 	 	 	 
	Exhibit A

	 	-
	 	Form of Note
	 
	 	 	 	 
	Exhibit B

	 	-
	 	Form of Notice of Revolving Credit Borrowing
	 
	 	 	 	 
	Exhibit C

	 	-
	 	Form of Assignment and Assumption
	 
	 	 	 	 
	Exhibit E

	 	-
	 	[INTENTIONALLY OMITTED]
	 
	 	 	 	 
	Exhibit F

	 	-
	 	Form of Designation Agreement
	 
	 	 	 	 
	Exhibits G

	 	-
	 	Tax Forms

4

 

CREDIT AGREEMENT

Dated as of November 9, 2011

          INTERNATIONAL FLAVORS & FRAGRANCES INC., a New York corporation (the “Company”),
INTERNATIONAL FLAVORS & FRAGRANCES (LUXEMBOURG) S.à.r.l., a private limited liability company
(société à responsabilité limitée) incorporated in Luxembourg and registered with the Register of
Commerce and Companies of Luxembourg under number B 79234 and having its registered address at 6
rue de Mamer, L-8081 Bertrange, Grand-Duchy of Luxembourg, with a share capital of EUR 163,360,000
(“IFF Lux”), INTERNATIONAL FLAVORS & FRAGRANCES (NEDERLAND) HOLDING B.V., a private limited
liability company incorporated in the Netherlands (“NL Holding”), INTERNATIONAL FLAVORS &
FRAGRANCES I.F.F. (NEDERLAND) B.V., a private limited liability company incorporated in the
Netherlands (“IFF Nederland”), IFF LATIN AMERICAN HOLDINGS (ESPAÑA) S.L., a Spanish Limited
Liability Company (“IFF Spain”), the banks, financial institutions and other institutional
lenders (the “Initial Lenders”) and issuers of letters of credit (“Initial Issuing
Banks”) listed on Schedule I hereto, and CITIBANK, N.A. (“Citibank”), as administrative
agent (the “Agent”) for the Lenders (as hereinafter defined), agree as follows:

ARTICLE I

DEFINITIONS AND ACCOUNTING TERMS

          SECTION 1.01. Certain Defined Terms. As used in this Agreement, the following terms
shall have the following meanings (such meanings to be equally applicable to both the singular and
plural forms of the terms defined):

     “Additional Commitment Lender” has the meaning specified in Section 2.19(d).

     “Administrative Questionnaire” means an Administrative Questionnaire in a form
supplied by the Agent.

     “Advance” means an advance by a Lender to a Borrower as a part of a Borrowing
consisting of simultaneous Advances under a Facility from each of the Lenders pursuant to
Section 2.01, and includes a Base Rate Advance or a Eurocurrency Rate Advance.

     “Affiliate” means, as to any Person, any other Person that, directly or
indirectly, controls, is controlled by or is under common control with such Person or is a
director or officer of such Person. For purposes of this definition, the term “control”
(including the terms “controlling”, “controlled by” and “under common control with”) of a
Person means the possession, direct or indirect, of the power to vote 10% or more of the
Voting Stock of such Person or to direct or cause the direction of the management and
policies of such Person, whether through the ownership of Voting Stock, by contract or
otherwise.

     “Agent” has the meaning specified in the recital of parties and, as the context
may require, includes the Sub-Agent.

     “Agent’s Account” means (a) in the case of Advances denominated in Dollars, the
account of the Agent maintained by the Agent at Citibank at its office at 1615 Brett Road,
Building #3, New Castle, Delaware 19720, Account No. 36852248, Attention: Bank Loan
Syndications, (b) in the case of Advances denominated in any Committed Currency, the account
of the Sub-Agent designated in writing from time to time by the Agent to the Company and the

1

 

Lenders for such purpose and (c) in any such case, such other account of the Agent as
is designated in writing from time to time by the Agent to the Company and the Lenders for
such purpose.

     “Agreement” means this Credit Agreement, as amended, restated, amended and
restated, supplemented or otherwise modified from time to time.

     “Applicable Lending Office” means, with respect to each Lender, such Lender’s
Domestic Lending Office in the case of a Base Rate Advance and such Lender’s Eurocurrency
Lending Office in the case of a Eurocurrency Rate Advance.

     “Applicable Margin” means as of any date, with respect to any Base Rate Advance
or Eurocurrency Rate Advance, as the case may be, a percentage per annum determined by
reference to the Public Debt Rating in effect on such date as set forth below under the
applicable caption:

	 	 	 	 	 	 	 	 	 
	Public Debt Rating	 	Applicable Margin for	 	Applicable Margin for
	S&P/Moody’s	 	Base Rate Advances	 	Eurocurrency Rate Advances
	Level 1

	 	 	0.000	%	 	 	0.875	%
	A+ / A1 or above
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Level 2

	 	 	0.000	%	 	 	1.000	%
	A / A2
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Level 3

	 	 	0.125	%	 	 	1.125	%
	A- / A3
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Level 4

	 	 	0.250	%	 	 	1.250	%
	BBB+ / Baa1
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Level 5

	 	 	0.375	%	 	 	1.375	%
	BBB / Baa2
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Level 6

	 	 	0.500	%	 	 	1.500	%
	BBB- / Baa3
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Level 7

	 	 	1.000	%	 	 	2.000	%
	Lower than Level 6
	 	 	 	 	 	 	 	 

     “Applicable Percentage” means, as of any date a percentage per annum determined
by reference to the Public Debt Rating in effect on such date as set forth below under the
caption “Applicable Percentage”:

	 	 	 	 	 
	Public Debt Rating	 	Applicable
	S&P/Moody’s	 	Percentage
	Level 1

	 	 	0.080	%
	A+ / A1 or above
	 	 	 	 
	 
	 	 	 	 
	Level 2

	 	 	0.100	%
	A / A2
	 	 	 	 
	 
	 	 	 	 
	Level 3

	 	 	0.125	%
	A- / A3
	 	 	 	 
	 
	 	 	 	 
	Level 4

	 	 	0.150	%
	BBB+ / Baa1
	 	 	 	 
	 
	 	 	 	 
	Level 5

	 	 	0.175	%
	BBB / Baa2
	 	 	 	 
	 
	 	 	 	 
	Level 6

	 	 	0.200	%
	BBB- / Baa3
	 	 	 	 
	 
	 	 	 	 
	Level 7

	 	 	0.275	%
	Lower than Level 6
	 	 	 	 

2

 

     “Appropriate Lender” means, at any time, with respect to (a) any of the Tranche
A Facility, the Tranche B Facility or the Tranche C Facility, a Lender that has a Commitment
with respect to such Facility at such time, (b) any Letter of Credit Subfacility, (i) any
Issuing Bank that has a Letter of Credit Commitment with respect to such Letter of Credit
Subfacility at such time and (ii) if the other Tranche A Lenders or Tranche B Lenders, as
applicable, have made Revolving Credit Advances in respect of such Letter of Credit
Subfacility pursuant to Section 2.03(c) that are outstanding at such time, each such other
Tranche A Lender or Tranche B Lender, as applicable and (c) any Swing Line Subfacility, (i)
each Swing Line Bank that has a Swing Line Commitment with respect to such Swing Line
Subfacility at such time and (ii) if the other Tranche A Lenders or Tranche B Lenders have
made Swing Line Advances in respect of such Swing Line Subfacility pursuant to Section
2.02(b) that are outstanding at such time, each such other Tranche A Lender or Tranche B
Lender, as applicable.

     “Approved Fund” means any Fund that is administered or managed by (a) a Lender,
(b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers
or manages a Lender.

     “Assignment and Assumption” means an assignment and assumption entered into by
a Lender and an Eligible Assignee (with the consent of any party whose consent is required
by Section 9.07(b)(iii)), and accepted by the Agent, in substantially the form of Exhibit C
or any other form approved by the Agent.

     “Assuming Lender” has the meaning specified in Section 2.18(d).

     “Assumption Agreement” has the meaning specified in Section 2.18(d)(ii).

     “Authorization” means an authorization, consent, approval, resolution, license
exemption, filing or registration (including, without limitation, the Environmental
Permits).

     “Available Amount” of any Letter of Credit means, at any time, the maximum
amount available to be drawn under such Letter of Credit at such time (assuming compliance
at such time with all conditions to drawing).

     “Bankruptcy Law” means any proceeding of the type referred to in Section
6.01(e) or Title 11, U.S. Code, or any similar foreign, federal or state law for the relief
of debtors.

     “Base Rate” means a fluctuating interest rate per annum in effect from time to
time, which rate per annum shall at all times be equal to the highest of:

     (a) the rate of interest announced publicly by Citibank in New York, New York,
from time to time, as Citibank’s base rate for loans denominated in Dollars;

     (b) 1/2 of one percent per annum above the Federal Funds Rate; and

     (c) the British Bankers Association Interest Settlement Rate applicable to
Dollars for a period of one month (“One Month LIBOR”) plus 1.00% (for the
avoidance

3

 

of doubt, the One Month LIBOR for any day shall be based on the rate appearing
on Reuters LIBOR01 Page (or other commercially available source providing such
quotations as designated by the Agent from time to time) at approximately 11:00 a.m.
London time on such day.

     “Base Rate Advance” means an Advance denominated in Dollars that bears interest
as provided in Section 2.07(a)(i).

     “Borrowers” means, collectively, the Company, IFF Lux, NL Holding, IFF
Nederland, IFF Spain and the Designated Subsidiaries from time to time.

     “Borrowing” means a Revolving Credit Borrowing or a Swing Line Borrowing.

     “Business Day” means a day of the year on which banks are not required or
authorized by law to close in New York City and, if the applicable Business Day relates to
any Eurocurrency Rate Advances, on which dealings are carried on in the London interbank
market and banks are open for business in London and in the country of issue of the currency
of such Eurocurrency Rate Advance (or, in the case of an Advance denominated in Euro, on
which the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET)
System is open).

     “Cash” means, at any time, cash as defined in the Audit and Accounting Guides
issued by the American Institute of Certified Public Accountants of the United States of
America (as amended from time to time) which includes as at the date of this Agreement
currency on hand, demand deposits with financial institutions and other similar deposit
accounts.

     “Cash Collateralize” means, in respect of an obligation, deposit and pledge (as
a first priority perfected security interest) cash collateral in Dollars, in an account to
be approved by the Agent (such approval not to be unreasonably withheld or delayed) for the
benefit of the Appropriate Lenders and pursuant to documentation in form and substance
reasonably satisfactory to the Agent (and “Cash Collateralization” has a
corresponding meaning).

     “Cash Equivalents” means, at any time, cash equivalents as defined in the Audit
and Accounting Guides issued by the American Institute of Certified Public Accountants of
the United States of America (as amended from time to time) which includes as at the date of
this Agreement short term instruments having not more than three months to final maturity
and highly liquid instruments readily convertible to known amounts of cash.

     “Change in Law” means the occurrence, after the date of this Agreement, or,
with respect to any Lender that becomes a party to this Agreement after the date hereof,
such later date on which such Lender becomes a party to this Agreement, of any of the
following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any
change in any law, rule, regulation or treaty or in the administration, interpretation,
implementation or application thereof by any Governmental Authority or (c) the making or
issuance of any request, rule, guideline or directive (whether or not having the force of
law) by any Governmental Authority; provided that notwithstanding anything herein to
the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all
requests, rules, guidelines or directives thereunder or issued in connection therewith and
(y) all requests, rules, guidelines or directives promulgated by the Bank for International
Settlements, the Basel Committee on Banking Supervision (or any successor or similar
authority) or the United States or foreign regulatory authorities, in each case pursuant to
Basel III, shall in each case be deemed to be a “Change in Law”, regardless of the date
enacted, adopted or issued.

4

 

     “Citibank” has the meaning set forth in the introductory paragraph of this
Agreement.

     “Code” means the Internal Revenue Code of 1986, as amended from time to time,
and the regulations promulgated and rulings issued thereunder.

     “Commitment” means a Revolving Credit Commitment, a Letter of Credit Commitment
or a Swing Line Commitment.

     “Commitment Date” has the meaning specified in Section 2.18(b).

     “Commitment Increase” has the meaning specified in Section 2.18(a).

     “Committed Currencies” means lawful currency of the United Kingdom of Great
Britain and Northern Ireland, lawful currency of The Swiss Federation, lawful currency of
Japan and Euros.

     “Company” has the meaning set forth in the introductory paragraph of this
Agreement.

     “Connection Income Taxes” means Other Connection Taxes that are imposed on or
measured by net income (however denominated) or that are franchise Taxes or branch profits
Taxes.

     “Consolidated” refers to the consolidation of accounts in accordance with GAAP.

     “Convert”, “Conversion” and “Converted” each refers to a
conversion of Revolving Credit Advances of one Type into Revolving Credit Advances of the
other Type pursuant to Section 2.08 or 2.09.

     “Debt” of any Person means, without duplication: (a) all indebtedness of such
Person for borrowed money, (b) all obligations of such Person for the deferred purchase
price of assets or services (other than trade payables not overdue by more than 60 days
incurred in the ordinary course of such Person’s business), (c) all obligations of such
Person evidenced by notes, bonds, debentures or other similar instruments, (d) all
obligations of such Person created or arising under any conditional sale or other title
retention agreement with respect to assets acquired by such Person (even though the rights
and remedies of the seller or lender under such agreement in the event of default are
limited to repossession or sale of such assets), (e) all obligations of such Person as
lessee under leases that have been or should be, in accordance with GAAP as in effect on the
Effective Date, recorded as capital leases, (f) all obligations, contingent or otherwise, of
such Person in respect of acceptances, letters of credit or similar extensions of credit,
(g) all obligations of such Person in respect of Hedge Agreements, (h) receivables sold or
discounted (other than any receivables to the extent they are sold on a non-recourse basis),
(i) any amount raised by the issue of shares redeemable mandatorily prior to the latest
Termination Date, (j) any amount raised under any other transaction (including any forward
sale or purchase agreement) having the commercial effect of a borrowing, (k) all Debt of
others referred to in paragraphs (a) through (j) above or paragraph (l) below guaranteed
directly or indirectly in any manner by such Person, or in effect guaranteed directly or
indirectly by such Person through an agreement (1) to pay or purchase such Debt or to
advance or supply funds for the payment or purchase of such Debt, (2) to purchase, sell or
lease (as lessee or lessor) assets, or to purchase or sell services, primarily for the
purpose of enabling the debtor to make payment of such Debt or to assure the holder of such
Debt against loss, (3) to supply funds to or in any other manner invest in the debtor
(including any agreement to pay for assets or services irrespective of whether such assets
are

5

 

received or such services are rendered) or (4) otherwise to assure a creditor against
loss, and (l) all Debt referred to in paragraphs (a) through (k) above secured by (or for
which the holder of such Debt has an existing right, contingent or otherwise, to be secured
by) any Lien on assets (including, without limitation, accounts and contract rights) owned
by such Person, even though such Person has not assumed or become liable for the payment of
such Debt.

     “Debt for Borrowed Money” of a person means all items that, in accordance with
GAAP, would be classified as indebtedness on a Consolidated balance sheet of such person
other than any amounts which would be classified as indebtedness, in accordance with GAAP,
which arise under any Hedge Agreements.

     “Debtor Relief Laws” means the Bankruptcy Code of the United States of America,
and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of
creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar
debtor relief laws of the United States or other applicable jurisdictions from time to time
in effect.

     “Default” means any Event of Default or any event that would constitute an
Event of Default but for the requirement that notice be given or time elapse or both.

     “Default Interest” has the meaning specified in Section 2.07(b).

     “Defaulting Lender” means at any time, subject to Section 2.20(c), (i) any
Lender that has failed for three or more Business Days to comply with its obligations under
this Agreement to make an Advance, make a payment to an Issuing Bank in respect of drawing
under a Letter of Credit, to make a payment to a Swing Line Bank in respect of Swing Line
Advances or make any other payment due hereunder (each, a “funding obligation”),
unless such Lender has notified the Agent and the Company in writing that such failure is
the result of such Lender’s good faith determination that one or more conditions precedent
to funding has not been satisfied (which conditions precedent, together with the applicable
default, if any, will be specifically identified in such writing), (ii) any Lender that has
notified the Agent, the Company, an Issuing Bank or a Swing Line Bank in writing, or has
stated publicly, that it does not intend to comply with its funding obligations hereunder,
unless such writing or statement states that such position is based on such Lender’s good
faith determination that one or more conditions precedent to funding cannot be satisfied
(which conditions precedent, together with the applicable default, if any, will be
specifically identified in such writing or public statement), (iii) any Lender that has
defaulted on its funding obligations under other loan agreements or credit agreements
generally under which it has commitments to extend credit or that has notified, or whose
Parent Company has notified, the Agent or the Company in writing, or has stated publicly,
that it does not intend to comply with its funding obligations under loan agreements or
credit agreements generally, (iv) any Lender that has, for three or more Business Days after
written request of the Agent or the Company, failed to confirm in writing to the Agent and
the Company that it will comply with its prospective funding obligations hereunder (provided
that such Lender will cease to be a Defaulting Lender pursuant to this clause (iv) upon the
Agent’s and the Company’s receipt of such written confirmation), or (v) any Lender with
respect to which a Lender Insolvency Event has occurred and is continuing with respect to
such Lender or its Parent Company; provided that, for the avoidance of doubt, a
Lender shall not be a Defaulting Lender solely by virtue of (1) the control, ownership or
acquisition of any equity interest in that Lender or any direct or indirect Parent Company
thereof by a Governmental Authority or instrumentality or (2) in the case of a solvent
Lender, the precautionary appointment of an administrator, guardian, custodian or other
similar official by a Governmental Authority or instrumentality under or based on the law of
the country where such Lender is subject to home jurisdiction supervision if applicable law
requires

6

 

that such appointment not be publicly disclosed, so long as, in the case of clause (1)
and clause (2), such action does not result in or provide such Lender with immunity from the
jurisdiction of courts within the United States or from the enforcement of judgments or
writs of attachment on its assets or permit such Lender (or such Governmental Authority or
instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made
with such Lender. Any determination by the Agent that a Lender is a Defaulting Lender under
any of clauses (i) through (v) above will be conclusive and binding absent manifest error,
and such Lender will be deemed to be a Defaulting Lender (subject to Section 2.20(c)) upon
notification of such determination by the Agent to the Company, the Issuing Banks, the Swing
Line Banks and the Lenders.

     “Designated Subsidiary” means any direct or indirect wholly-owned Subsidiary of
the Company designated for borrowing privileges under this Agreement pursuant to Section
9.09.

     “Designation Agreement” means, with respect to any Designated Subsidiary, an
agreement in the form of Exhibit D hereto signed by such Designated Subsidiary and the
Company.

     “Dollars” and the “$” sign each means lawful currency of the United
States of America.

     “Domestic Lending Office” means, with respect to any Lender, its office set
forth in its Administrative Questionnaire (or identified in its Administrative Questionnaire
as its Domestic Lending Office) or such other office as such Lender may hereafter designate
as its Domestic Lending Office by notice to the Company and the Agent.

     “Dutch Loan Party” means NL Holding, IFF Nederland and any Designated
Subsidiary that is organized under the laws of the Netherlands.

     “EBITDA” means, for means, for any Relevant Period, net income (or net loss)
plus the sum of: (a) interest expense; (b) income tax expense; (c) depreciation expense; (d)
amortization expense and all other non-cash charges; (e) extraordinary or unusual losses
deducted in calculating net income less extraordinary or unusual gains added in calculating
net income, (f) all non-recurring non-cash expenses and charges, (g) any non-cash gains or
losses from asset sales, (h) non-cash purchase accounting adjustments, (i) customary costs
and expenses incurred in connection with the transactions contemplated by the Loan
Documents, (j) non-cash stock-based compensation expense for such period, (k) other expenses
reducing such net income which do not represent a cash item in such period or any future
period less all non-cash items increasing net income which do not represent a cash item in
such period or any future period, and (l) customary costs and expenses incurred in
connection with acquisitions, investments, issuances of equity and incurrence of
indebtedness to the extent any such transaction is not prohibited by this Agreement, in each
case determined in accordance with GAAP for the Relevant Period.

     “Effective Date” has the meaning specified in Section 3.01.

     “Eligible Assignee” means any Person that meets the requirements to be an
assignee under Section 9.07(b)(iii), (v) and (vi) (subject to such consents, if any, as may
be required under Section 9.07(b)(iii)).

     “Environmental Action” means any action, suit, demand, demand letter, claim,
notice of non-compliance or violation, notice of liability or potential liability,
investigation, proceeding, consent order or consent agreement relating in any way to any
Environmental Law, Environmental Permit or Hazardous Materials or arising from alleged
injury or threat of injury to

7

 

health, safety or the environment, including, without limitation, (a) by any
governmental or regulatory authority for enforcement, cleanup, removal, response, remedial
or other actions or damages and (b) by any governmental or regulatory authority or any third
party for damages, contribution, indemnification, cost recovery, compensation or injunctive
relief.

     “Environmental Law” means any federal, state, local or foreign statute, law,
ordinance, rule, regulation, code, order, judgment, decree or judicial or agency
interpretation, policy or guidance relating to pollution or protection of the environment,
health, safety or natural resources, including, without limitation, those relating to the
use, handling, transportation, treatment, storage, disposal, release or discharge of
Hazardous Materials.

     “Environmental Permit” means any permit, approval, identification number,
license or other authorization required under any Environmental Law.

     “Equivalent” (i) in Dollars of any Committed Currency on any date, means the
quoted spot rate at which the Sub-Agent’s principal office in London offers to exchange
Dollars for such Committed Currency in London prior to 11:00 A.M. (London time) on such
date, (ii) in any Committed Currency of Dollars on any date, means the quoted spot rate at
which the Sub-Agent’s principal office in London offers to exchange such Committed Currency
for Dollars in London prior to 11:00 A.M. (London time) on such date and (iii) in any
Committed Currency (other than Euros) or Dollars of Euros on any date, means the quoted spot
rate at which the Sub-Agent’s principal office in London offers to exchange such Committed
Currency or Dollars for Euros in London prior to 11:00 A.M. (London time) on such date.

     “ERISA” means the Employee Retirement Income Security Act of 1974, as amended
from time to time, and the regulations promulgated and rulings issued thereunder.

     “ERISA Affiliate” means any Person that for purposes of Title IV of ERISA is a
member of the Company’s controlled group, or under common control with the Company, within
the meaning of Section 414 of the Code.

     “ERISA Event” means (a) (i) the occurrence of a reportable event, within the
meaning of Section 4043 of ERISA, with respect to any Plan unless the 30-day notice
requirement with respect to such event has been waived by the PBGC, or (ii) the requirements
of Section 4043(b) of ERISA are met with respect to a contributing sponsor, as defined in
Section 4001(a)(13) of ERISA, of a Plan, and an event described in paragraph (9), (10),
(11), (12) or (13) of Section 4043(c) of ERISA is reasonably expected to occur with respect
to such Plan within the following 30 days; (b) the application for a minimum funding waiver
pursuant to Section 412 of the Code with respect to a Plan; (c) the provision by the
administrator of any Plan of a notice of intent to terminate such Plan pursuant to Section
4041(a)(2) of ERISA (including any such notice with respect to a plan amendment referred to
in Section 4041(e) of ERISA); (d) the cessation of operations at a facility of the Borrower
or any ERISA Affiliate in the circumstances described in Section 4062(e) of ERISA; (e) the
withdrawal by the Borrower or any ERISA Affiliate from a Multiple Employer Plan during a
plan year for which it was a “substantial employer,” as defined in Section 4001(a)(2) of
ERISA; (f) the conditions for the imposition of a lien under Section 303(k) of ERISA shall
have been met with respect to any Plan; (g) a determination that any Plan is in “at risk”
status (within the meaning of Section 303 of ERISA); or (h) the institution by the PBGC of
proceedings to terminate a Plan pursuant to Section 4042 of ERISA, or the occurrence of any
event or condition described in Section 4042 of ERISA that constitutes grounds for the
termination of, or the appointment of a trustee to administer, a Plan.

8

 

     “EURIBO Rate” means, for any Interest Period, the greater of (a) 0.0% and (b)
the rate appearing on Reuters EURIBOR01 Page (or on any successor or substitute page of
Reuters, or any successor to or substitute for Reuters, providing rate quotations comparable
to those currently provided on such page of Reuters, as determined by the Agent from time to
time for purposes of providing quotations of interest rates applicable to deposits in Euro
by reference to the Banking Federation of the European Union Settlement Rates for deposits
in Euro) at approximately 10:00 a.m., London time, two Business Days prior to the
commencement of such Interest Period, as the rate for deposits in Euro with a maturity
comparable to such Interest Period or, if for any reason such rate is not available, the
average (rounded upward to the nearest whole multiple of 1/100 of 1% per annum, if such
average is not such a multiple) of the respective rates per annum at which deposits in Euros
are offered by the principal office of each of the Reference Banks in London, England to
prime banks in the London interbank market at 11:00 A.M. (London time) two Business Days
before the first day of such Interest Period in an amount substantially equal to such
Reference Bank’s Eurocurrency Rate Advance comprising part of such Revolving Credit
Borrowing to be outstanding during such Interest Period and for a period equal to such
Interest Period (subject, however, to the provisions of Section 2.08(e)).

     “Euro” means the lawful currency of the European Union as constituted by the
Treaty of Rome which established the European Community, as such treaty may be amended from
time to time and as referred to in the EMU legislation.

     “Eurocurrency Lending Office” means, with respect to any Lender, its office,
branch or Affiliate located at its address set forth in its Administrative Questionnaire (or
identified in its Administrative Questionnaire as its Eurocurrency Lending Office) or such
other office, branch or Affiliate as such Lender may hereafter designate as its Eurocurrency
Lending Office by notice to the Company and the Agent.

     “Eurocurrency Liabilities” has the meaning assigned to that term in Regulation
D of the Board of Governors of the Federal Reserve System, as in effect from time to time.

     “Eurocurrency Rate” means, for any Interest Period for each Eurocurrency Rate
Advance comprising part of the same Revolving Credit Borrowing, an interest rate per annum
equal to the rate per annum obtained by dividing (a) (i) in the case of any Advance
denominated in Dollars or any Committed Currency other than Euros, the rate per annum
(rounded upward to the nearest whole multiple of 1/100 of 1% per annum) appearing on Reuters
LIBOR01 Page (or any successor page) as the London interbank offered rate for deposits in
Dollars or the applicable Committed Currency at approximately 11:00 A.M. (London time) two
Business Days prior to the first day of such Interest Period for a term comparable to such
Interest Period or, if for any reason such rate is not available, the average (rounded
upward to the nearest whole multiple of 1/100 of 1% per annum, if such average is not such a
multiple) of the rate per annum at which deposits in Dollars or the applicable Committed
Currency is offered by the principal office of each of the Reference Banks in London,
England to prime banks in the London interbank market at 11:00 A.M. (London time) two
Business Days before the first day of such Interest Period in an amount substantially equal
to such Reference Bank’s Eurocurrency Rate Advance comprising part of such Revolving Credit
Borrowing to be outstanding during such Interest Period and for a period equal to such
Interest Period and (ii) in the case of any Advance denominated in Euro, the EURIBO Rate by
(b) a percentage equal to 100% minus the Eurocurrency Rate Reserve Percentage for such
Interest Period. If the Reuters LIBOR01 Page (or any successor page) is unavailable, the
Eurocurrency Rate for any Interest Period for each Eurocurrency Rate Advance comprising part
of the same Revolving Credit Borrowing shall be determined by the Agent on the basis of
applicable rates furnished to and received by the Agent from the Reference Banks two

9

 

Business Days before the first day of such Interest Period, subject, however, to
the provisions of Section 2.08.

     “Eurocurrency Rate Advance” means a Revolving Credit Advance denominated in
Dollars or a Committed Currency that bears interest as provided in Section 2.07(a)(ii).

     “Eurocurrency Rate Reserve Percentage” for any Interest Period for all
Eurocurrency Rate Advances comprising part of the same Borrowing means the reserve
percentage applicable two Business Days before the first day of such Interest Period under
regulations issued from time to time by the Board of Governors of the Federal Reserve System
(or any successor) for determining the maximum reserve requirement (including, without
limitation, any emergency, supplemental or other marginal reserve requirement) for a member
bank of the Federal Reserve System in New York City with respect to liabilities or assets
consisting of or including Eurocurrency Liabilities (or with respect to any other category
of liabilities that includes deposits by reference to which the interest rate on
Eurocurrency Rate Advances is determined) having a term equal to such Interest Period.

     “Events of Default” has the meaning specified in Section 6.01.

     “Excluded Taxes” means any of the following Taxes imposed on or with respect to
a Recipient or required to be withheld or deducted from a payment to a Recipient, (a) Taxes
imposed on or measured by net income or gross income (however denominated), franchise and
similar Taxes, and branch profits Taxes, in each case, (i) imposed as a result of such
Recipient being organized under the laws of, or having its principal office or, in the case
of any Lender, its Applicable Lending Office located in, the jurisdiction imposing such Tax
(or any political subdivision thereof) or (ii) that are Other Connection Taxes, (b) in the
case of a Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the
account of such Lender with respect to an applicable interest in an Advance or Commitment
pursuant to a law in effect on the date on which (i) such Lender acquires such interest in
such Advance or Commitment (other than pursuant to an assignment request by the Company
under Section 9.07) or (ii) such Lender changes its lending office, except in each case to
the extent that, pursuant to Section 2.14, amounts with respect to such Taxes were payable
either to such Lender’s assignor immediately before such Lender became a party hereto or to
such Lender immediately before it changed its lending office, (c) Taxes attributable to such
Recipient’s failure to comply with Section 2.14(g) and (d) any U.S. federal withholding
Taxes imposed under FATCA.

     “Extension Date” has the meaning specified in Section 2.19(a).

     “Facility” means the Tranche A Facility, the Tranche B Facility or the Tranche
C Facility (all of the foregoing being, collectively, the “Facilities”).

     “FATCA” means Sections 1471 through 1474 of the Code, as of the date of this
Agreement (or any amended or successor version that is substantively comparable and not
materially more onerous to comply with) and any current or future regulations or official
interpretations thereof.

     “Federal Funds Rate” means, for any period, a fluctuating interest rate per
annum equal for each day during such period to the weighted average of the rates on
overnight Federal funds transactions with members of the Federal Reserve System arranged by
Federal funds brokers, as published for such day (or, if such day is not a Business Day, for
the next preceding Business Day) by the Federal Reserve Bank of New York, or, if such rate
is not so published for any day

10

 

that is a Business Day, the average of the quotations for such day on such transactions
received by the Agent from three Federal funds brokers of recognized standing selected by
it.

     “Foreign Lender” means (a) if the applicable Borrower is a U.S. Person, a
Lender that is not a U.S. Person, and (b) if the applicable Borrower is not a U.S. Person, a
Lender that is resident or organized under the laws of a jurisdiction other than that in
which the Borrower is resident for tax purposes.

     “Fronting Exposure” means, at any time there is a Defaulting Lender (a) with
respect to any Issuing Bank, such Defaulting Lender’s Ratable Share of the L/C Obligations
with respect to Letters of Credit issued by such Issuing Bank, other than L/C Obligations as
to which such Defaulting Lender’s participation obligation has been reallocated to other
Lenders or Cash Collateralized in accordance with the terms hereof and (b) with respect to
any Swing Line Bank, such Defaulting Lender’s Ratable Share of the Swing Line Advances,
other that Swing Line Advances as to which such Defaulting Lender’s participation obligation
has been reallocated to other Lenders or Cash Collateralized in accordance wit the terms
hereof.

     “Fund” means any Person (other than a natural Person) that is (or will be)
engaged in making, purchasing, holding or otherwise investing in commercial loans and
similar extensions of credit in the ordinary course of its activities.

     “GAAP” has the meaning specified in Section 1.03.

     “Governmental Authority” means the government of the United States of America
or any other nation, or of any political subdivision thereof, whether state or local, and
any agency, authority, instrumentality, regulatory body, court, central bank or other entity
exercising executive, legislative, judicial, taxing, regulatory or administrative powers or
functions of or pertaining to government (including any supra-national bodies such as the
European Union or the European Central Bank).

     “Guaranteed Obligations” has the meaning specified in Section 7.01.

     “Hazardous Materials” means (a) petroleum and petroleum products, byproducts or
breakdown products, radioactive materials, asbestos-containing materials, polychlorinated
biphenyls and radon gas and (b) any other chemicals, materials or substances designated,
classified or regulated as hazardous or toxic or as a pollutant or contaminant under any
Environmental Law.

     “Hedge Agreements” means interest rate swap, cap or collar agreements, interest
rate future or option contracts, currency swap agreements, currency future or option
contracts and other similar agreements.

     “IFF Lux” has the meaning set forth in the introductory paragraph of this
Agreement.

     “IFF Nederland” has the meaning set forth in the introductory paragraph of this
Agreement.

     “IFF Spain” has the meaning set forth in the introductory paragraph of this
Agreement.

     “Increase Date” has the meaning specified in Section 2.18(a).

11

 

     “Increasing Lender” has the meaning specified in Section 2.18(b).

     “Indemnified Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or
with respect to any payment made by or on account of any obligation of any Loan Party under
any Loan Document and (b) to the extent not otherwise described in (a), Other Taxes.

     “Indemnitee” has the meaning specified in Section 9.04(b).

     “Information” has the meaning specified in Section 9.08.

     “Information Memorandum” means the information memorandum dated October 13,
2011, as modified or supplemented prior to the date hereof, used by the Agent in connection
with the syndication of the Commitments.

     “Initial Issuing Bank” has the meaning set forth in the introductory paragraph
of this Agreement.

     “Initial Lender” has the meaning set forth in the introductory paragraph of
this Agreement.

     “Interest Period” means (x) for each Tranche B Swing Line Advance comprising
part of the same Swing Line Borrowing, the period, not to exceed five Business Days,
specified by the applicable Borrower in the Notice of Swing Line Borrowing in respect of
such Borrowing and (y) for each Eurocurrency Rate Advance comprising part of the same
Revolving Credit Borrowing, the period commencing on the date of such Eurocurrency Rate
Advance or the date of the Conversion of any Base Rate Advance into such Eurocurrency Rate
Advance and ending on the last day of the period selected by the Borrower requesting such
Borrowing pursuant to the provisions below and, thereafter, each subsequent period
commencing on the last day of the immediately preceding Interest Period and ending on the
last day of the period selected by such Borrower pursuant to the provisions below. The
duration of each such Interest Period for Eurocurrency Rate Advances shall be one, two,
three or six months or, subject to clause (c) of this definition, nine or twelve months, as
the applicable Borrower may, upon notice received by the Agent not later than 11:00 A.M.
(New York City time) on the third Business Day prior to the first day of such Interest
Period (which shall promptly notify each of the Appropriate Lenders), select;
provided, however, that:

     (a) the Borrowers may not select any Interest Period that ends after the latest
Termination Date;

     (b) Interest Periods commencing on the same date for Eurocurrency Rate Advances
comprising part of the same Revolving Credit Borrowing shall be of the same
duration;

     (c) in respect of any Eurocurrency Rate Advance, the Borrowers shall not be
entitled to select an Interest Period having a duration of nine or twelve months
unless, by
2:00 P.M. (New York City time) on the third Business Day prior to the first day
of such Interest Period (the failure of any Appropriate Lender to so respond by such
time being deemed for all purposes of this Agreement as an objection by such
Appropriate Lender to the requested duration of such Interest Period);
provided that, if any or all of the Appropriate Lenders object to the
requested duration of such Interest Period, the duration of the Interest Period for
such Revolving Credit Borrowing shall be one, two, three or six

12

 

months, as specified
by the applicable Borrower in the applicable Notice of Revolving Credit Borrowing as
the desired alternative to the Interest Period of nine or twelve months;

     (d) whenever the last day of any Interest Period would otherwise occur on a day
other than a Business Day, the last day of such Interest Period shall be extended to
occur on the next succeeding Business Day, provided, however, that,
in the case of Eurocurrency Rate Advances, if such extension would cause the last
day of such Interest Period to occur in the next following calendar month, the last
day of such Interest Period shall occur on the next preceding Business Day; and

     (e) whenever the first day of any Interest Period for Eurocurrency Rate
Advances occurs on a day of an initial calendar month for which there is no
numerically corresponding day in the calendar month that succeeds such initial
calendar month by the number of months equal to the number of months in such
Interest Period, such Interest Period shall end on the last Business Day of such
succeeding calendar month.

     “Issuance” with respect to any Letter of Credit means the issuance, amendment,
renewal or extension of such Letter of Credit.

     “Issuing Bank” means a Tranche A Issuing Bank or a Tranche B Issuing Bank.

     “IRS” means the United States Internal Revenue Service.

     “L/C Cash Deposit Account” means an interest bearing cash deposit account to be
established and maintained by the Agent on behalf of the Appropriate Lenders, over which the
Agent shall have sole dominion and control, upon terms as may be reasonably satisfactory to
the Agent.

     “L/C Obligations” means, as of any date, the aggregate Available Amount of
outstanding Letters of Credit and Advances made by an Issuing Bank in accordance with
Section 2.03(c) that have not been funded by the Lenders.

     “L/C Related Documents” has the meaning specified in Section 2.06(b)(i).

     “Lender Insolvency Event” means that (a) a Lender or its Parent Company is
insolvent, or is generally unable to pay its debts as they become due, or admits in writing
its inability to pay its debts as they become due, or makes a general assignment for the
benefit of its creditors, or (b) such Lender or its Parent Company is the subject of a
bankruptcy, insolvency, reorganization, liquidation or similar proceeding, or a receiver,
trustee, conservator, intervenor or sequestrator or the like has been appointed for such
Lender or its Parent Company, or such Lender or its Parent Company has taken any action in
furtherance of or indicating its consent to or acquiescence in any such proceeding or
appointment.

     “Lenders” means the Tranche A Lenders, the Tranche B Lenders and the Tranche C
Lenders.

     “Letter of Credit” has the meaning specified in Section 2.01(b).

     “Letter of Credit Agreement” has the meaning specified in Section 2.03(a).

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     “Letter of Credit Commitment” means a Tranche A Letter of Credit Commitment or
a Tranche B Letter of Credit Commitment.

     “Letter of Credit Subfacility” means the Tranche A Letter of Credit Subfacility
or the Tranche B Letter of Credit Subfacility.

     “Lien” means any lien, security interest or other charge or encumbrance of any
kind, or any other type of preferential arrangement, including, without limitation, the lien
or retained security title of a conditional vendor and any easement, right of way or other
encumbrance on title to real property.

     “Loan Document” means this Agreement, any Note, each Letter of Credit Agreement
and each Designation Agreement.

     “Loan Party” means the Company and each other Borrower.

     “Mandatory Cost” means the percentage rate per annum calculated by the Agent in
accordance with Schedule II.

     “Material Adverse Change” means any material adverse change in the business,
condition (financial or otherwise) or results of operations of the Company and its
Subsidiaries taken as a whole.

     “Material Adverse Effect” means a material adverse effect on: (a) the business,
condition (financial or otherwise) or results of operations of the Company and its
Subsidiaries taken as a whole; (b) the rights and remedies of the Agent or any Lender under
the Loan Documents; or (c) the ability of any Loan Party or the Company to perform its
payment obligations under the Loan Documents.

     “Moody’s” means Moody’s Investors Service, Inc.

     “Multiemployer Plan” means a multiemployer plan, as defined in Section
4001(a)(3) of ERISA, to which the Company or any ERISA Affiliate is making or accruing an
obligation to make contributions, or has within any of the preceding five plan years made or
accrued an obligation to make contributions.

     “Multiple Employer Plan” means a single employer plan, as defined in Section
4001(a)(15) of ERISA, which is subject to Title IV of ERISA, and that (a) is maintained for
employees of the Company or any ERISA Affiliate and at least one Person other than the
Company and the ERISA Affiliates or (b) was so maintained and in respect of which the
Company or any ERISA Affiliate could have liability under Section 4064 or 4069 of ERISA in
the event such plan has been or were to be terminated.

     “Net Debt” means Debt for Borrowed Money less Cash and Cash Equivalents.

     “NL Holding” has the meaning set forth in the introductory paragraph of this
Agreement.

     “Non-Consenting Lender” means any Lender that does not approve any consent,
waiver or amendment that (i) requires the approval of all affected Lenders in accordance
with the terms of Section 9.01 and (ii) has been approved by the Required Lenders.

14

 

     “Non-Extending Lender” has the meaning specified in Section 2.19(b).

     “Non-Defaulting Lender” means, at any time, a Lender that is not a Defaulting
Lender.

     “Note” means a promissory note of any Borrower payable to the order of any
Lender, delivered pursuant to a request made under Section 2.16 in substantially the form of
Exhibit A hereto, evidencing the aggregate indebtedness of such Borrower to such Lender
resulting from the Advances made by such Lender to such Borrower.

     “Notice Date” has the meaning specified in Section 2.19(b).

     “Notice of Issuance” has the meaning specified in Section 2.03(a).

     “Notice of Revolving Credit Borrowing” has the meaning specified in Section
2.02(a).

     “Notice of Swing Line Borrowing” has the meaning specified in Section 2.02(b).

     “Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as
a result of a present or former connection between such Recipient and the jurisdiction
imposing such Tax (other than connections arising from such Recipient having executed,
delivered, become a party to, performed its obligations under, received payments under,
received or perfected a security interest under, engaged in any other transaction pursuant
to or enforced any Loan Document, or sold or assigned an interest in any Advance or Loan
Document).

     “Other Taxes” means all present or future stamp, court or documentary,
intangible, recording, filing or similar Taxes that arise from any payment made under, from
the execution, delivery, performance, enforcement or registration of, from the receipt or
perfection of a security interest under, or otherwise with respect to, any Loan Document,
except any such Taxes that are Other Connection Taxes imposed with respect to an assignment
(other than an assignment made pursuant to Section 2.21(b)).

     “Overnight Rate” means (a) with respect to Advances or other amounts
denominated in Dollars, the Federal Funds Rate and (b) with respect to Advances or other
amounts denominated in Committed Currencies, the rate per annum applicable to an overnight
period beginning on one Business Day and ending on the next Business Day equal to the sum of
1% and the average, rounded upward to the nearest whole multiple of 1/100 of 1%, if such
average is not such a multiple, of the respective rates per annum quoted by each Reference
Bank to the Agent on request as the rate at which it is offering overnight deposits in the
relevant currency in amounts comparable to such Reference Bank’s Eurocurrency Rate Advances.

     “Parent Company” means, with respect to a Lender, the bank holding company (as
defined in Federal Reserve Board Regulation Y), if any, of such Lender, or if such Lender
does not have a bank holding company, then any corporation, association, partnership or
other business entity owning, beneficially or of record, directly or indirectly, a majority
of the shares of such Lender.

     “Participant” has the meaning assigned to such term in Section 9.07(d).

     “Participant Register” has the meaning specified in Section 9.07(d).

15

 

     “Patriot Act” means the Uniting and Strengthening America by Providing
Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Pub. L. 107-56,
signed into law October 26, 2001, as amended.

     “Payment Office” means, for any Committed Currency, such office of Citibank as
shall be from time to time selected by the Agent and notified by the Agent to the Company
and the Lenders.

     “PBGC” means the Pension Benefit Guaranty Corporation (or any successor).

     “Permitted Liens” means such of the following as to which no enforcement,
collection, execution, levy or foreclosure proceeding shall have been commenced: (a) Liens
for Taxes, assessments and governmental charges or levies to the extent not required to be
paid under Section 5.01(c); (b) Liens imposed by law, such as materialmen’s, mechanics’,
carriers’, workmen’s and repairmen’s Lien and other similar Lien arising in the ordinary
course of business securing obligations that are not overdue for a period of more than 60
days; (c) pledges or deposits to secure obligations under workers’ compensation laws or
similar legislation or to secure public or statutory obligations; (d) easements, rights of
way and other encumbrances on title to real property that do not render title to the real
property encumbered thereby unmarketable or materially adversely affect the use of such real
property for its present purposes; (e) any netting or set-off arrangement entered into by
the Company or any of its Subsidiaries in the ordinary course of its banking arrangements
for the purpose of netting debit and credit balances of the Company and its Subsidiaries;
(f) any Lien arising solely by virtue of the maintenance of a bank account by the Company or
any of its Subsidiaries in the ordinary course of business pursuant to the general terms and
conditions of the bank with which such account is held; and (g) any Lien arising by
operation of law and in the ordinary course of trading.

     “Person” means any natural Person, corporation, limited liability company,
trust, joint venture, association, company, partnership, Governmental Authority or any
political subdivision or agency thereof or other entity.

     “Plan” means a Single Employer Plan or a Multiple Employer Plan, which is
maintained for employees of the Company or any ERISA Affiliate.

     “Post-Petition Interest” has the meaning specified in Section 7.05(b).

     “Primary Currency” has the meaning specified in 9.12(c).

     “Protesting Lender” has the meaning specified in Section 9.09(a).

     “Public Debt Rating” means, as of any date, the rating that has been most
recently announced by either S&P or Moody’s, as the case may be, for any class of non-credit
enhanced long-term senior unsecured debt issued by the Company or, if any such rating agency
shall have issued more than one such rating, the lowest such rating issued by such rating
agency. For purposes of the foregoing, (a) if only one of S&P and Moody’s shall have in
effect a Public Debt Rating, the Applicable Margin and the Applicable Percentage shall be
determined by reference to the available rating; (b) if neither S&P nor Moody’s shall have
in effect a Public Debt Rating, the
Applicable Margin and the Applicable Percentage will be set in accordance with Level 7
under the definition of “Applicable Margin” or “Applicable Percentage”, as
the case may be; (c) if the ratings established by S&P and Moody’s shall fall within
different levels, the Applicable Margin and the Applicable Percentage shall be based upon
the higher rating unless the such ratings differ

16

 

by two or more levels, in which case the
applicable level will be deemed to be one level above the lower of such levels; (d) if any
rating established by S&P or Moody’s shall be changed, such change shall be effective as of
the date on which such change is first announced publicly by the rating agency making such
change; and (e) if S&P or Moody’s shall change the basis on which ratings are established,
each reference to the Public Debt Rating announced by S&P or Moody’s, as the case may be,
shall refer to the then equivalent rating by S&P or Moody’s, as the case may be.

     “Ratable Share” means, with respect to any Lender under any Facility at any
time, the percentage of the total Revolving Credit Commitments under such Facility
represented by such Lender’s Revolving Credit Commitment under such Facility. If the
applicable Revolving Credit Commitments have terminated or expired, the Ratable Shares shall
be determined based upon the applicable Revolving Credit Commitments most recently in
effect, giving effect to any assignments.

     “Reacquisition Sale and Leaseback Transaction” has the meaning specified in
Section 5.02(b)(v).

     “Recipient” means (a) the Agent, (b) any Lender and (c) any Issuing Bank, as
applicable.

     “Reference Banks” means Citibank, Fortis Bank SA/NV and JPMorgan Chase Bank,
N.A.

     “Register” has the meaning specified in Section 9.07(c).

     “Regulation U” has the meaning specified in Section 4.01(g).

     “Related Parties” means, with respect to any Person, such Person’s Affiliates
and the partners, directors, officers, employees, agents, trustees, administrators,
managers, advisors and representatives of such Person and of such Person’s Affiliates.

     “Relevant Period” means each period of twelve months ending on the last day of
the Company’s financial year and each period of twelve months ending on the last day of each
of the first three quarters of the Company’s financial year.

     “Removal Effective Date” has the meaning specified in Section 8.06(b).

     “Required Lenders” means at any time Lenders owed in excess of 50% of the then
aggregate unpaid principal amount (based on the Equivalent in Dollars at such time) of the
Revolving Credit Advances owing to Lenders, or, if no such principal amount is then
outstanding, Lenders having in excess of 50% of the Revolving Credit Commitments;
provided that if any Lender shall be a Defaulting Lender at such time, there shall
be excluded from the determination of Required Lenders at such time the Revolving Credit
Commitments of such Lender at such time.

     “Resignation Effective Date” has the meaning specified in Section 8.06(a).

     “Revolving Credit Advance” means a Tranche A Revolving Credit Advance, a
Tranche B Revolving Credit Advance or a Tranche C Revolving Credit Advance.

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     “Revolving Credit Borrowing” means a borrowing consisting of simultaneous
Revolving Credit Advances of the same Type made by each of the Appropriate Lenders.

     “Revolving Credit Borrowing Minimum” means, in respect of Revolving Credit
Advances denominated in Dollars, $10,000,000, in respect of Revolving Credit Advances
denominated in Sterling, £10,000,000, in respect of Revolving Credit Advances denominated in
Yen, ¥100,000,000, in respect of Revolving Credit Advances denominated in Francs,
₣10,000,000, and, in respect of Revolving Credit Advances denominated in Euros, €10,000,000.

     “Revolving Credit Borrowing Multiple” means, in respect of Revolving Credit
Advances denominated in Dollars, $1,000,000 in respect of Revolving Credit Advances
denominated in Sterling, £1,000,000, in respect of Revolving Credit Advances denominated in
Yen, ¥10,000,000, in respect of Revolving Credit Advances denominated in Francs, ₣1,000,000,
and, in respect of Revolving Credit Advances denominated in Euros, €1,000,000.

     “Revolving Credit Commitment” means a Tranche A Revolving Credit Commitment, a
Tranche B Revolving Credit Commitment or a Tranche C Revolving Credit Commitment.

     “S&P” means Standard & Poor’s, a division of The McGraw-Hill Companies, Inc.

     “Single Employer Plan” means any Plan that is subject to Title IV of ERISA, but
that is not a Multiemployer Plan or a Multiple Employer Plan.

     “Sub-Agent” means Citibank International plc.

     “Subordinated Obligations” has the meaning specified in Section 7.05.

     “Subsidiary” of any Person means any corporation, partnership, joint venture,
limited liability company, trust or estate of which (or in which) more than 50% of (a) the
issued and outstanding capital stock having ordinary voting power to elect a majority of the
Board of Directors of such corporation (irrespective of whether at the time capital stock of
any other class or classes of such corporation shall or might have voting power upon the
occurrence of any contingency), (b) the interest in the capital or profits of such limited
liability company, partnership or joint venture or (c) the beneficial interest in such trust
or estate is at the time directly or indirectly owned or controlled by such Person, by such
Person and one or more of its other Subsidiaries or by one or more of such Person’s other
Subsidiaries.

     “Swing Line Bank” means a Tranche A Swing Line Bank or a Tranche B Swing Line
Bank.

     “Swing Line Borrowing” means a Tranche A Swing Line Borrowing or a Tranche B
Swing Line Borrowing.

     “Swing Line Commitment” means a Tranche A Swing Line Commitment or a Tranche B
Swing Line Commitment.

     “Swing Line Subfacility” means a Tranche A Swing Line Subfacility or a Tranche
B Swing Line Subfacility.

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     “Taxes” means all present or future taxes, levies, imposts, duties, deductions,
withholdings (including backup withholding), assessments, fees or other charges imposed by
any Governmental Authority, including any interest, additions to tax or penalties applicable
thereto.

     “Termination Date” means the earlier of (a) November 9, 2016, subject to the
extension thereof pursuant to Section 2.19 and (b) the date of termination in whole of the
Commitments pursuant to Section 2.05 or 6.01; provided, however, that the
Termination Date of any Lender that is a Non-Extending Lender to any requested extension
pursuant to Section 2.19 shall be the Termination Date in effect immediately prior to the
applicable Extension Date for all purposes of this Agreement.

     “Total Credit Exposure” means, as to any Lender at any time, the sum of the
aggregate principal amount at such time of its outstanding Revolving Credit Advances and
such Lender’s participation in L/C Obligations and such Lender’s pro rata portion of any
Swing Line Advances at such time and the Unused Commitments of such Lender at such time.

     “Tranche A Facility” means, at any time, the aggregate amount of the Tranche A
Lenders’ Tranche A Revolving Credit Commitments at such time.

     “Tranche A Issuing Bank” means an Initial Issuing Bank or any Eligible Assignee
to which a portion of the Tranche A Letter of Credit Commitment hereunder has been assigned
pursuant to Section 9.07 or any other Tranche A Lender appointed by the Company so long as
such Eligible Assignee or Lender expressly agrees to perform in accordance with their terms
all of the obligations that by the terms of this Agreement are required to be performed by
it as a Tranche A Issuing Bank and notifies the Agent of its Applicable Lending Office
(which information shall be recorded by the Agent in the Register), for so long as such
Initial Issuing Bank, Eligible Assignee or Lender, as the case may be, shall have a Tranche
A Letter of Credit Commitment.

     “Tranche A Lenders” means the Persons listed on Schedule I as having a Tranche
A Revolving Credit Commitment and any other Person that shall have become party hereto with
a Tranche A Revolving Credit Commitment pursuant to an Assumption Agreement or an Assignment
and Assumption, other than any such Person that ceases to be a party hereto pursuant to an
Assignment and Assumption. Unless the context requires otherwise, the term “Tranche A
Lenders” includes each Tranche A Swing Line Bank.

     “Tranche A Letter of Credit Commitment” means, with respect to each Tranche A
Issuing Bank, the obligation of such Issuing Bank to issue Letters of Credit for the account
of the Borrowers and their specified Subsidiaries in (a) the Dollar amount set forth
opposite the Issuing Bank’s name on Schedule I hereto under the caption “Tranche A Letter of
Credit Commitment” or (b) if such Issuing Bank has entered into one or more Assignment and
Assumptions, the Dollar amount set forth for such Issuing Bank in the Register maintained by
the Agent pursuant to Section 9.07(c) as such Issuing Bank’s “Tranche A Letter of Credit
Commitment”, in each case as such amount may be reduced prior to such time pursuant to
Section 2.05.

     “Tranche A Letter of Credit Subfacility” means, at any time, an amount equal to
the least of (a) the aggregate amount of the Issuing Banks’ Tranche A Letter of Credit
Commitments at such time, (b) $25,000,000 and (c) the aggregate amount of the Tranche A
Revolving Credit Commitments, as such amount may be reduced at or prior to such time
pursuant to Section 2.05. The Tranche A Letter of Credit Subfacility is part of, and not in
addition to, the aggregate Tranche A Revolving Credit Commitments.

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     “Tranche A Revolving Credit Advance” means an Advance by a Tranche A Lender to
any Borrower as part of a Revolving Credit Borrowing under the Tranche A Facility and refers
to a Base Rate Advance or a Eurocurrency Rate Advance (each of which shall be a
“Type” of Tranche A Revolving Credit Advance).

     “Tranche A Revolving Credit Commitment” means as to any Tranche A Lender (a)
the Dollar amount set forth opposite such Lender’s name on Schedule I hereto as such
Lender’s “Tranche A Revolving Credit Commitment”, (b) if such Lender has become a Lender
hereunder pursuant to an Assumption Agreement, the Dollar amount set forth in such
Assumption Agreement or (c) if such Lender has entered into an Assignment and Assumption,
the Dollar amount set forth for such Lender in the Register maintained by the Agent pursuant
to Section 9.07(c), as such amount may be reduced pursuant to Section 2.05 or increased
pursuant to Section 2.18.

     “Tranche A Swing Line Advance” means an Advance made by a Tranche A Swing Line
Bank pursuant to Section 2.01(c)(i) or any Lender pursuant to Section 2.02(b).

     “Tranche A Swing Line Bank” means Citibank, in its capacity as lender of
Tranche A Swing Line Advances hereunder, and any other Tranche A Lender appointed by the
Company so long as such Lender expressly agrees to perform in accordance with their terms
all of the obligations that by the terms of this Agreement are required to be performed by
it as a Tranche A Swing Line Bank and notifies the Agent of its Applicable Lending Office
(which information shall be recorded by the Agent in the Register), for so long as Citibank
or such Lender, as the case may be, shall have a Tranche A Swing Line Commitment.

     “Tranche A Swing Line Borrowing” means a Borrowing consisting of Tranche A
Swing Line Advances made by the Tranche A Swing Line Banks.

     “Tranche A Swing Line Commitment” means with respect to each Tranche A Swing
Line Bank, the amount set forth opposite such Tranche A Swing Line Bank’s name on Schedule I
hereto or in the Register maintained by the Agent as its Tranche A Swing Line Commitment, as
such amount may be reduced pursuant to Section 2.05.

     “Tranche A Swing Line Subfacility” means an amount equal to the lesser of (a)
$50,000,000 and (b) the aggregate Tranche A Revolving Credit Commitments. The Tranche A
Swing Line Sublimit is part of, and not in addition to, the aggregate Tranche A Revolving
Credit Commitments.

     “Tranche B Facility” means, at any time, the aggregate amount of the Tranche B
Lenders’ Tranche B Revolving Credit Commitments at such time.

     “Tranche B Issuing Bank” means an Initial Issuing Bank or any Eligible Assignee
to which a portion of the Tranche B Letter of Credit Commitment hereunder has been assigned
pursuant to Section 9.07 or any other Tranche B Lender appointed by the Company so long as
such Eligible Assignee or Lender expressly agrees to perform in accordance with their terms
all of the obligations that by the terms of this Agreement are required to be performed by
it as a Tranche B Issuing Bank and notifies the Agent of its Applicable Lending Office
(which information shall be recorded by the Agent in the Register), for so long as such
Initial Issuing Bank, Eligible Assignee or Lender, as the case may be, shall have a Tranche
B Letter of Credit Commitment.

20

 

     “Tranche B Lenders” means the Persons listed on Schedule I as having a Tranche
B Revolving Credit Commitment and any other Person that shall have become party hereto with
a Tranche B Revolving Credit Commitment pursuant to an Assumption Agreement or an Assignment
and Assumption, other than any such Person that ceases to be a party hereto pursuant to an
Assignment and Assumption. Unless the context requires otherwise, the term “Tranche B
Lenders” includes each Tranche B Swing Line Bank.

     “Tranche B Letter of Credit Commitment” means, with respect to each Tranche B
Issuing Bank, the obligation of such Issuing Bank to issue Letters of Credit for the account
of the Borrowers and their specified Subsidiaries in (a) the Euro amount set forth opposite
the Issuing Bank’s name on Schedule I hereto under the caption “Tranche B Letter of Credit
Commitment” or (b) if such Issuing Bank has entered into one or more Assignment and
Assumptions, the Euro amount set forth for such Issuing Bank in the Register maintained by
the Agent pursuant to Section 9.07(c) as such Issuing Bank’s “Tranche B Letter of Credit
Commitment”, in each case as such amount may be reduced prior to such time pursuant to
Section 2.05.

     “Tranche B Letter of Credit Subfacility” means, at any time, an amount equal to
the least of (a) the aggregate amount of the Issuing Banks’ Tranche B Letter of Credit
Commitments at such time, (b) €25,000,000 and (c) the aggregate amount of the Tranche B
Revolving Credit Commitments, as such amount may be reduced at or prior to such time
pursuant to Section 2.05. The Tranche B Letter of Credit Subfacility is part of, and not in
addition to, the aggregate Tranche B Revolving Credit Commitments.

     “Tranche B Revolving Credit Advance” means an Advance by a Tranche B Lender to
any Borrower as part of a Revolving Credit Borrowing under the Tranche B Facility.

     “Tranche B Revolving Credit Commitment” means as to any Tranche B Lender (a)
the Dollar amount set forth opposite such Lender’s name on Schedule I hereto as such
Lender’s “Tranche B Revolving Credit Commitment”, (b) if such Lender has become a Lender
hereunder pursuant to an Assumption Agreement, the Dollar amount set forth in such
Assumption Agreement or (c) if such Lender has entered into an Assignment and Assumption,
the Dollar amount set forth for such Lender in the Register maintained by the Agent pursuant
to Section 9.07(c), as such amount may be reduced pursuant to Section 2.05 or increased
pursuant to Section 2.18.

     “Tranche B Swing Line Advance” means an Advance made by a Tranche B Swing Line
Bank pursuant to Section 2.01(c)(ii) or any Lender pursuant to Section 2.02(b).

     “Tranche B Swing Line Bank” means Citibank International plc, in its capacity
as lender of Tranche B Swing Line Advances hereunder, and any other Tranche B Lender
appointed by the Company so long as such Lender expressly agrees to perform in accordance
with their terms all of the obligations that by the terms of this Agreement are required to
be performed by it as a Tranche B Swing Line Bank and notifies the Agent of its Applicable
Lending Office (which information shall be recorded by the Agent in the Register), for so
long as Citibank International or such Lender, as the case may be, shall have a Tranche B
Swing Line Commitment.

     “Tranche B Swing Line Borrowing” means a Borrowing consisting of Tranche B
Swing Line Advance made by the Tranche B Swing Line Banks.

     “Tranche B Swing Line Commitment” means with respect to each Tranche B Swing
Line Bank, the amount set forth opposite such Tranche B Swing Line Bank’s name on Schedule I

21

 

hereto or in the Register maintained by the Agent as its Tranche B Swing Line
Commitment, as such amount may be reduced pursuant to Section 2.05.

     “Tranche B Swing Line Subfacility” means an amount equal to the lesser of (a)
€50,000,000 and (b) the aggregate Tranche B Revolving Credit Commitments. The Tranche B
Swing Line Sublimit is part of, and not in addition to, the aggregate Tranche B Revolving
Credit Commitments.

     “Tranche C Facility” means, at any time, the aggregate amount of the Tranche C
Lenders’ Tranche C Revolving Credit Commitments at such time.

     “Tranche C Lenders” means the Persons listed on Schedule I as having a Tranche
C Revolving Credit Commitment and any other Person that shall have become party hereto with
a Tranche C Revolving Credit Commitment pursuant to an Assumption Agreement or an Assignment
and Assumption, other than any such Person that ceases to be a party hereto pursuant to an
Assignment and Assumption.

     “Tranche C Revolving Credit Advance” means an advance by a Tranche C Lender to
any Borrower as part of a Revolving Credit Borrowing under the Tranche C Facility.

     “Tranche C Revolving Credit Commitment” means as to any Tranche C Lender (a)
the Euro amount set forth opposite such Lender’s name on Schedule I hereto as such Lender’s
“Tranche C Revolving Credit Commitment”, (b) if such Lender has become a Lender hereunder
pursuant to an Assumption Agreement, the Euro amount set forth in such Assumption Agreement
or (c) if such Lender has entered into an Assignment and Assumption, the Euro amount set
forth for such Lender in the Register maintained by the Agent pursuant to Section 9.07(c),
as such amount may be reduced pursuant to Section 2.05 or increased pursuant to Section
2.18.

     “Type” has the meaning specified in the definition of Tranche A Revolving
Credit Advance.

     “Unissued Letter of Credit Commitment” means the Unissued Tranche A Letter of
Credit Commitment or the Unissued Tranche B Letter of Credit Commitment.

     “Unissued Tranche A Letter of Credit Commitment” means, with respect to any
Tranche A Issuing Bank, the obligation of such Issuing Bank to issue Letters of Credit for
the account of any Borrower or its specified Subsidiaries in an amount equal to the excess
of (a) the amount of its Tranche A Letter of Credit Commitment over (b) the aggregate
Available Amount of all Letters of Credit issued by such Issuing Bank under the Tranche A
Facility.

     “Unissued Tranche B Letter of Credit Commitment” means, with respect to any
Tranche B Issuing Bank, the obligation of such Issuing Bank to issue Letters of Credit for
the account of any Borrower or its specified Subsidiaries in an amount equal to the excess
of (a) the amount of its Tranche B Letter of Credit Commitment over (b) the aggregate
Available Amount of all Letters of Credit issued by such Issuing Bank under the Tranche B
Facility.

     “Unused Commitment” means the Unused Tranche A Commitment, the Unused Tranche B
Commitment or the Unused Tranche C Commitment.

     “Unused Tranche A Commitment” means, with respect to each Tranche A Lender at
any time, (a) such Lender’s Tranche A Revolving Credit Commitment at such time minus
(b) the sum

22

 

of (i) the aggregate principal amount of all Tranche A Revolving Credit Advances made
by such Lender (in its capacity as a Lender) and outstanding at such time, plus (ii)
such Lender’s Ratable Share of (A) the aggregate Available Amount of all the Letters of
Credit outstanding at such time under the Tranche A Facility, (B) the aggregate principal
amount of all Advances made by each Issuing Bank under the Tranche A Facility pursuant to
Section 2.03(c) that have not been ratably funded by such Lender and outstanding at such
time, after giving effect to any adjustments made in accordance with Section 2.20(a) and (C)
the aggregate principal amount of all Tranche A Swing Line Advances then outstanding.

     “Unused Tranche B Commitment” means, with respect to each Tranche B Lender at
any time, (a) such Lender’s Tranche B Revolving Credit Commitment at such time minus
(b) the sum of (i) the aggregate principal amount of all Tranche B Revolving Credit Advances
made by such Lender (in its capacity as a Lender) and outstanding at such time, plus
(ii) such Lender’s Ratable Share of (A) the aggregate Available Amount of all the Letters of
Credit outstanding at such time under the Tranche B Facility, (B) the aggregate principal
amount of all Advances made by each Issuing Bank under the Tranche B Facility pursuant to
Section 2.03(c) that have not been ratably funded by such Lender and outstanding at such
time, after giving effect to any adjustments made in accordance with Section 2.20(a) and (C)
the aggregate principal amount of all Tranche B Swing Line Advances then outstanding.

     “Unused Tranche C Commitment” means, with respect to each Tranche C Lender at
any time, (a) such Lender’s Tranche C Revolving Credit Commitment at such time minus
(b) the aggregate principal amount of all Tranche C Revolving Credit Advances made by such
Lender and outstanding at such time.

     “U.S. Borrower” means any Borrower that is a U.S. Person.

     “U.S. Person” means any Person that is a “United States Person” as defined in
Section 7701(a)(30) of the Code.

     “U.S. Tax Compliance Certificate” has the meaning assigned to such term in
Section 2.14(g).

     “Voting Stock” means capital stock issued by a corporation, or equivalent
interests in any other Person, the holders of which are ordinarily, in the absence of
contingencies, entitled to vote for the election of directors (or persons performing similar
functions) of such Person, even if the right so to vote has been suspended by the happening
of such a contingency.

     “Withholding Agent” means any Loan Party and the Agent.

          SECTION 1.02. Computation of Time Periods. In this Agreement in the computation of
periods of time from a specified date to a later specified date, the word “from” means “from and
including” and the words “to” and “until” each mean “to but excluding”.

          SECTION 1.03. Accounting Terms. All accounting terms not specifically defined herein
shall be construed in accordance with generally accepted accounting principles in the United States
of America consistent with those applied in the preparation of the financial statements referred to
in Section 4.01(e) (“GAAP”). Notwithstanding any other provision contained herein, all
terms of an accounting or financial nature used herein shall be construed, and all computations of
amounts and ratios referred to herein shall be made (i) without giving effect to any election under
Accounting Standards Codification 825-10-25 (or any other Accounting Standards Codification or
Financial Accounting

23

 

Standard having a similar result or effect) to value any Debt or other liabilities of the
Company or any Subsidiary thereof at “fair value”, as defined therein, (ii) without giving effect
to any treatment of Debt in respect of convertible debt instruments under Accounting Standards
Codification 470-20 (or any other Accounting Standards Codification or Financial Accounting
Standard having a similar result or effect) to value any such Debt in a reduced or bifurcated
manner as described therein, and such Debt shall at all times be valued at the full stated
principal amount thereof and (iii) in a manner such that any obligations relating to a lease that
was accounted for by a Person as an operating lease as of the Effective Date and any similar lease
entered into after the Effective Date by such Person shall be accounted for as obligations relating
to an operating lease and not as a capital lease.

ARTICLE II

AMOUNTS AND TERMS OF THE ADVANCES AND LETTERS OF CREDIT

          SECTION 2.01. The Advances and Letters of Credit. (a) The Revolving Credit
Advances. (i) Tranche A. Each Tranche A Lender severally agrees, on the terms and
conditions hereinafter set forth, to make Tranche A Revolving Credit Advances denominated in
Dollars or any Committed Currency to any Borrower (other than IFF Spain) from time to time on any
Business Day during the period from the Effective Date until the Termination Date applicable to
such Lender in an amount (based in respect of any Revolving Credit Advances to be denominated in a
Committed Currency by reference to the Equivalent thereof in Dollars determined on the date of
delivery of the applicable Notice of Revolving Credit Borrowing) not to exceed such Lender’s Unused
Tranche A Commitment. Each Revolving Credit Borrowing under the Tranche A Facility shall be in an
amount not less than the Revolving Credit Borrowing Minimum or the Revolving Credit Borrowing
Multiple in excess thereof and shall consist of Tranche A Revolving Credit Advances of the same
Type and in the same currency made on the same day by the Lenders ratably according to their
respective Tranche A Revolving Credit Commitments. Within the limits of each Lender’s Tranche A
Revolving Credit Commitment, any Borrower (other than IFF Spain) may borrow under this Section
2.01(a)(i), prepay pursuant to Section 2.10 and reborrow under this Section 2.01(a)(i).

          (ii) Tranche B. Each Tranche B Lender severally agrees, on the terms and conditions
hereinafter set forth, to make Tranche B Revolving Credit Advances denominated in any Committed
Currency to any Borrower from time to time on any Business Day during the period from the Effective
Date until the Termination Date applicable to such Lender in an amount (based in respect of any
Tranche B Revolving Credit Advances to be denominated in a Committed Currency by reference to the
Equivalent thereof in Dollars determined on the date of delivery of the applicable Notice of
Revolving Credit Borrowing) not to exceed such Lender’s Unused Tranche B Commitment. Each
Revolving Credit Borrowing under the Tranche B Facility shall be in an amount not less than the
Revolving Credit Borrowing Minimum or the Revolving Credit Borrowing Multiple in excess thereof and
shall consist of Eurocurrency Rate Advances in the same currency made on the same day by the
Lenders ratably according to their respective Tranche B Revolving Credit Commitments. Within the
limits of each Lender’s Tranche B Revolving Credit Commitment, any Borrower may borrow under this
Section 2.01(a)(ii), prepay pursuant to Section 2.10 and reborrow under this Section 2.01(a)(ii).

          (iii) Tranche C. Each Tranche C Lender severally agrees, on the terms and conditions
hereinafter set forth, to make Tranche C Revolving Credit Advances denominated in Euros to any
Borrower from time to time on any Business Day during the period from the Effective Date until the
Termination Date applicable to such Lender in an amount (determined by reference to the Equivalent
of Euros in Dollars determined on the date of delivery of the applicable Notice of Revolving Credit
Borrowing) not to exceed such Lender’s Unused Tranche C Commitment. Each Revolving Credit
Borrowing under the Tranche C Facility shall be in an amount not less than the Revolving Credit

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Borrowing Minimum or the Revolving Credit Borrowing Multiple in excess thereof and shall
consist of Eurocurrency Rate Advances in the same currency made on the same day by the Lenders
ratably according to their respective Tranche C Revolving Credit Commitments. Within the limits of
each Lender’s Tranche C Revolving Credit Commitment, any Borrower may borrow under this Section
2.01(a)(iii), prepay pursuant to Section 2.10 and reborrow under this Section 2.01(a)(iii).

          (b) Letters of Credit. (i) Tranche A. Each Tranche A Issuing Bank agrees, on
the terms and conditions hereinafter set forth, in reliance upon the agreements of the other
Tranche A Lenders set forth in this Agreement, to issue letters of credit (each, a “Letter of
Credit”) denominated in Dollars for the account of any Borrower (other than IFF Spain) and its
specified Subsidiaries from time to time on any Business Day during the period from the Effective
Date until 30 days before the Termination Date applicable to such Issuing Bank in an aggregate
Available Amount (i) for all Letters of Credit issued by each Tranche A Issuing Bank not to exceed
at any time the lesser of (x) the Tranche A Letter of Credit Subfacility at such time and (y) such
Tranche A Issuing Bank’s Tranche A Letter of Credit Commitment at such time and (ii) for each such
Letter of Credit not to exceed an amount equal to the Unused Tranche A Commitments of the Lenders
at such time. Within the limits referred to above, the Borrowers (other than IFF Spain) may from
time to time request the issuance of Letters of Credit under this Section 2.01(b)(i).

          (ii) Tranche B. Each Tranche B Issuing Bank agrees, on the terms and conditions
hereinafter set forth, in reliance upon the agreements of the other Tranche B Lenders set forth in
this Agreement, to issue Letters of Credit denominated in Euros for the account of any Borrower and
its specified Subsidiaries from time to time on any Business Day during the period from the
Effective Date until 30 days before the Termination Date applicable to such Issuing Bank in an
aggregate Available Amount (i) for all Letters of Credit issued by each Tranche B Issuing Bank not
to exceed at any time the lesser of (x) the Tranche B Letter of Credit Subfacility at such time and
(y) such Tranche B Issuing Bank’s Tranche B Letter of Credit Commitment at such time and (ii) for
each such Letter of Credit not to exceed an amount equal to the Unused Tranche B Commitments of the
Lenders at such time. Within the limits referred to above, the Borrowers may from time to time
request the issuance of Letters of Credit under this Section 2.01(b)(ii).

          (c) The Swing Line Advances. (i) Tranche A. Each Tranche A Swing Line Bank
severally agrees, on the terms and conditions hereinafter set forth, to make Tranche A Swing Line
Advances denominated in Dollars to any Borrower (other than IFF Spain) from time to time on any
Business Day during the period from the date hereof until the Termination Date applicable to the
Tranche A Swing Line Bank (A) in an aggregate amount not to exceed at any time outstanding the
Tranche A Swing Line Subfacility and (B) in an amount for each such Advance not to exceed an amount
equal to the Unused Tranche A Commitments of the Tranche A Lenders on such Business Day. Each
Tranche A Swing Line Borrowing shall be in an amount of $5,000,000 or an integral multiple of
$1,000,000 in excess thereof and shall consist of Base Rate Advances made on the same day by the
Tranche A Swing Line Banks ratably according to their respective Tranche A Swing Line Commitments.
Within the limits of the Tranche A Swing Line Subfacility and within the limits referred to in
clause (B) above, the Borrowers (other than IFF Spain) may borrow under this Section 2.01(c)(i),
prepay pursuant to Section 2.10 and reborrow under this Section 2.01(c)(i).

          (ii) Tranche B. The Tranche B Swing Line Bank severally agrees, on the terms and
conditions hereinafter set forth, to make Tranche B Swing Line Advances denominated in Euros to any
Borrower from time to time on any Business Day during the period from the date hereof until the
Termination Date applicable to the Tranche B Swing Line Bank (A) in an aggregate amount not to
exceed at any time outstanding the Tranche B Swing Line Subfacility and (B) in an amount for each
such Advance not to exceed an amount equal to the Unused Tranche B Commitments of the Tranche B

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Lenders on such Business Day. Each Tranche B Swing Line Borrowing shall be in an amount of
€5,000,000 or an integral multiple of €1,000,000 in excess thereof and shall consist of
Eurocurrency Rate Advances made on the same day by the Tranche B Swing Line Banks ratably according
to their respective Tranche B Swing Line Commitments. Within the limits of the Tranche B Swing
Line Subfacility and within the limits referred to in clause (B) above, the Borrowers may borrow
under this Section 2.01(c)(ii), prepay pursuant to Section 2.10 and reborrow under this Section
2.01(c)(ii).

          SECTION 2.02. Making the Advances. (a) Except as otherwise provided in Section
2.02(b) or Section 2.03(c), each Revolving Credit Borrowing shall be made on notice, given not
later than (x) 11:00 A.M. (New York City time) on the third Business Day prior to the date of the
proposed Revolving Credit Borrowing in the case of a Revolving Credit Borrowing consisting of
Eurocurrency Rate Advances denominated in Dollars, (y) 1:00 P.M. (London time) on the third
Business Day prior to the date of the proposed Revolving Credit Borrowing in the case of a
Revolving Credit Borrowing consisting of Eurocurrency Rate Advances denominated in any Committed
Currency or (z) 11:00 A.M. (New York City time) on the date of the proposed Revolving Credit
Borrowing in the case of a Revolving Credit Borrowing consisting of Base Rate Advances, by any
Borrower to the Agent (and, in the case of a Revolving Credit Borrowing consisting of Eurocurrency
Rate Advances denominated in any Committed Currency, simultaneously to the Sub-Agent), which shall
give to each Appropriate Lender prompt notice thereof by telecopier. Each such notice of a
Revolving Credit Borrowing (a “Notice of Revolving Credit Borrowing”) shall be by
telephone, confirmed immediately in writing, or telecopier in substantially the form of Exhibit B
hereto, specifying therein the requested (i) date of such Revolving Credit Borrowing, (ii) Type of
Advances comprising such Revolving Credit Borrowing, (iii) aggregate amount of such Revolving
Credit Borrowing, and (iv) in the case of a Revolving Credit Borrowing consisting of Eurocurrency
Rate Advances, initial Interest Period and currency for each such Revolving Credit Advance. Each
Appropriate Lender shall, before 1:00 P.M. (New York City time) on the date of such Revolving
Credit Borrowing, in the case of a Revolving Credit Borrowing consisting of Advances denominated in
Dollars, and before 11:00 A.M. (London time) on the date of such Revolving Credit Borrowing, in the
case of a Revolving Credit Borrowing consisting of Eurocurrency Rate Advances denominated in any
Committed Currency, make available for the account of its Applicable Lending Office to the Agent at
the applicable Agent’s Account, in same day funds, such Lender’s ratable portion of such Revolving
Credit Borrowing in accordance with the respective Commitments under the applicable Facility of
such Lender and the other Appropriate Lenders. After the Agent’s receipt of such funds and upon
fulfillment of the applicable conditions set forth in Article III, the Agent will make such funds
available to the Borrower requesting the Revolving Credit Borrowing at the Agent’s address referred
to in Section 9.02 or at the applicable Payment Office, as the case may be; provided,
however, that, if such Borrowing is denominated in the currency of any outstanding Swing
Line Advance under the same Facility, the Agent shall first make a portion of such funds equal to
the aggregate principal amount of such Swing Line Advances made by the applicable Swing Line Bank
and by any other Appropriate Lender and outstanding on the date of such Revolving Credit Borrowing,
plus interest accrued and unpaid thereon to and as of such date, available to the applicable Swing
Line Bank and such other Appropriate Lenders for repayment of such Swing Line Advances.

          (b) Each Swing Line Borrowing shall be made on notice, given not later than (x) 1:00 P.M. (New
York City time) on the date of the proposed Swing Line Borrowing in the case of a Tranche A Swing
Line Borrowing or (y) 1:00 P.M. (London time) on the date of the proposed Swing Line Borrowing in
the case of a Tranche B Swing Line Borrowing, in each case by the applicable Borrower to the
applicable Swing Line Banks and the Agent (and, in the case of a Tranche B Swing Line Borrowing,
simultaneously to the Sub-Agent), of which the Agent shall give prompt notice to the Appropriate
Lenders. Each such notice of a Swing Line Borrowing (a “Notice of Swing Line Borrowing”)
shall be by telephone, confirmed at once in writing, or telecopier, specifying therein the
requested (i) date of such Borrowing, (ii) amount of such Borrowing and (iii) Interest Period of
such Borrowing (which Interest

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Period shall end no later than the fifth Business Day after the requested date of such
Borrowing). The applicable Swing Line Banks shall, before 5:00 P.M. (New York City time) in the
case of a Tranche A Swing Line Borrowing and before 5:00 P.M. (London time) in the case of a
Tranche B Swing Line Borrowing on the date of such Swing Line Borrowing, make such Swing Line
Borrowing available to the Agent at the Agent’s Account, in same day funds. After the Agent’s
receipt of such funds and upon fulfillment of the applicable conditions set forth in Article III,
the Agent will make such funds available to the applicable Borrower at the Agent’s address referred
to in Section 9.02. No Swing Line Advance shall be used for the purpose of funding the payment of
principal of any other Swing Line Advance.

          Upon written demand by an applicable Swing Line Bank, with a copy of such demand to the Agent,
each other Appropriate Lender will purchase from such Swing Line Bank, and such Swing Line Bank
shall sell and assign to each such other Lender, such other Lender’s Ratable Share of such
outstanding Swing Line Advance, by making available for the account of its Applicable Lending
Office to the Agent for the account of such Swing Line Bank, by deposit to the Agent’s Account, in
same day funds, an amount equal to the portion of the outstanding principal amount of such Swing
Line Advance to be purchased by such Lender. Each Borrower hereby agrees to each such sale and
assignment. Each Lender agrees to purchase its Ratable Share of (i) an outstanding Tranche A Swing
Line Advance on (x) the Business Day on which demand therefor is made by the Swing Line Bank which
made such Advance, provided that notice of such demand is given not later than 11:00 A.M. (New York
City time) on such Business Day or (y) the first Business Day next succeeding such demand if notice
of such demand is given after such time and (ii) an outstanding Tranche B Swing Line Advance on the
third Business Day after the date demand therefor is made by the Swing Line Bank which made such
Advance. Upon any such assignment by any Swing Line Bank to any other Lender of a portion of a
Swing Line Advance, such Swing Line Bank represents and warrants to such other Lender that such
Swing Line Bank is the legal and beneficial owner of such interest being assigned by it, but makes
no other representation or warranty and assumes no responsibility with respect to such Swing Line
Advance, this Agreement, the Notes or the Borrowers. If and to the extent that any Lender shall
not have so made the amount of such Swing Line Advance available to the Agent, such Lender agrees
to pay to the Agent forthwith on demand such amount together with interest thereon, for each day
from the date such Lender is required to have made such amount available to the Agent until the
date such amount is paid to the Agent, at the higher of the Overnight Rate and the cost of funds
incurred by the Agent in respect of such amount, plus any administrative, processing or similar
fees customarily charge by the Agent in connection with the foregoing. If such Lender shall pay to
the Agent such amount for the account of such Swing Line Bank on any Business Day, such amount so
paid in respect of principal shall constitute a Swing Line Advance made by such Lender on such
Business Day for purposes of this Agreement, and the outstanding principal amount of the Swing Line
Advance made by such Swing Line Bank shall be reduced by such amount on such Business Day.

          (c) Anything in subsection (a) above to the contrary notwithstanding, (i) the Borrowers may
not select Eurocurrency Rate Advances for any Revolving Credit Borrowing if the aggregate amount of
such Revolving Credit Borrowing is less than the Revolving Credit Borrowing Minimum or if the
obligation of the Appropriate Lenders to make Eurocurrency Rate Advances shall then be suspended
pursuant to Section 2.08 or 2.12 and (ii) the Eurocurrency Rate Advances may not be outstanding as
part of more than six separate Revolving Credit Borrowings.

          (d) Each Notice of Revolving Credit Borrowing and Notice of Swing Line Borrowing shall be
irrevocable and binding on the Borrower requesting the Borrowing. In the case of any Revolving
Credit Borrowing that the related Notice of Revolving Credit Borrowing specifies is to be comprised
of Eurocurrency Rate Advances, such Borrower shall indemnify each Appropriate Lender against any
loss, cost or expense incurred by such Lender as a result of any failure to fulfill on or before
the date specified in such Notice of Revolving Credit Borrowing for such Revolving Credit Borrowing

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the applicable conditions set forth in Article III, including, without limitation, any loss
(excluding any loss of profits), cost or expense incurred by reason of the liquidation or
reemployment of deposits or other funds acquired by such Lender to fund the Revolving Credit
Advance to be made by such Lender as part of such Revolving Credit Borrowing when such Revolving
Credit Advance, as a result of such failure, is not made on such date.

          (e) Unless the Agent shall have received notice from an Appropriate Lender prior to the time
of any Revolving Credit Borrowing or Swing Line Borrowing that such Lender will not make available
to the Agent such Lender’s ratable portion of such Borrowing, the Agent may assume that such Lender
has made such portion available to the Agent on the date of such Borrowing in accordance with
subsection (a) or (b) of this Section 2.02, as applicable, and the Agent may, in reliance upon such
assumption, make available to the Borrower requesting the Borrowing on such date a corresponding
amount. If and to the extent that such Lender shall not have so made such ratable portion
available to the Agent, such Lender and such Borrower severally agree to repay to the Agent
forthwith on demand such corresponding amount together with interest thereon, for each day from the
date such amount is made available to such Borrower until the date such amount is repaid to the
Agent, at (i) in the case of such Borrower, the higher of the interest rate applicable at the time
to the Advances comprising such Borrowing and the cost of funds incurred by the Agent in respect of
such amount and (ii) in the case of such Lender, the higher of the Overnight Rate and the cost of
funds incurred by the Agent in respect of such amount, plus any administrative, processing or
similar fees customarily charged by the Agent in connection with the foregoing. If such Lender
shall repay to the Agent such corresponding amount, such amount so repaid shall constitute such
Lender’s Advance as part of such Borrowing for purposes of this Agreement.

          (f) The failure of any Appropriate Lender to make the Revolving Credit Advance to be made by
it as part of any Borrowing shall not relieve any other Appropriate Lender of its obligation, if
any, hereunder to make its Revolving Credit Advance on the date of such Revolving Credit Borrowing,
but no Lender shall be responsible for the failure of any other Lender to make the Revolving Credit
Advance to be made by such other Lender on the date of any Revolving Credit Borrowing.

          SECTION 2.03. Issuance of and Drawings and Reimbursement Under Letters of Credit. (a)
Request for Issuance. Each Letter of Credit shall be issued upon notice, given not later
than 11:00 A.M. (New York City time) on the fifth Business Day prior to the date of the proposed
Issuance of such Letter of Credit (or on such shorter notice as the applicable Issuing Bank may
agree), by any Borrower to any Issuing Bank, and such Issuing Bank shall give the Agent, prompt
notice thereof. Each such notice by a Borrower of Issuance of a Letter of Credit (a “Notice of
Issuance”) shall be by telecopier or telephone, confirmed immediately in writing (including by
telecopier), specifying therein the requested (A) date of such Issuance (which shall be a Business
Day), (B) Available Amount and currency of such Letter of Credit, (C) expiration date of such
Letter of Credit, (D) name and address of the beneficiary of such Letter of Credit and (E) form of
such Letter of Credit, such Letter of Credit shall be issued pursuant to such application and
agreement for letter of credit as such Issuing Bank and the applicable Borrower shall agree for use
in connection with such requested Letter of Credit (a “Letter of Credit Agreement”). If
the requested form of such Letter of Credit is acceptable to such Issuing Bank in its reasonable
discretion (it being understood that any such form shall have only explicit documentary conditions
to draw and shall not include discretionary conditions), such Issuing Bank will, upon fulfillment
of the applicable conditions set forth in Section 3.03, make such Letter of Credit available to the
applicable Borrower at its office referred to in Section 9.02 or as otherwise agreed with such
Borrower in connection with such Issuance. In the event and to the extent that the provisions of
any Letter of Credit Agreement shall conflict with this Agreement, the provisions of this Agreement
shall govern. No Letter of Credit shall have an expiration date (including all rights of the
applicable Borrower or the beneficiary to require renewal) later than 10 Business Days before the
Termination Date, provided that no Letter of Credit may

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expire after the Termination Date of any Non-Extending Lender under the applicable Facility
if, after giving effect to such issuance, the aggregate Revolving Credit Commitments of the
Extending Lenders (including any replacement Lenders) for the period following such Termination
Date would be less than the Available Amount of the Letters of Credit under such Facility expiring
after such Termination Date.

          (b) Participations. By the Issuance of a Letter of Credit (or an amendment to a
Letter of Credit increasing or decreasing the amount thereof) and without any further action on the
part of the applicable Issuing Bank or the Lenders, such Issuing Bank under a Facility hereby
grants to each Appropriate Lender, and each Appropriate Lender hereby acquires from such Issuing
Bank, a participation in such Letter of Credit equal to such Lender’s Ratable Share of the
Available Amount of such Letter of Credit. Each Borrower hereby agrees to each such participation.
In consideration and in furtherance of the foregoing, each Appropriate Lender hereby absolutely
and unconditionally agrees to pay to the Agent, for the account of such Issuing Bank, such Lender’s
Ratable Share of each drawing made under a Letter of Credit funded by such Issuing Bank and not
reimbursed by the applicable Borrower on the date made, or of any reimbursement payment required to
be refunded to such Borrower for any reason, which amount will be advanced, and deemed to be an
Advance to such Borrower hereunder, regardless of the satisfaction of the conditions set forth in
Section 3.03. Each Appropriate Lender acknowledges and agrees that its obligation to acquire
participations pursuant to this paragraph in respect of Letters of Credit is absolute and
unconditional and shall not be affected by any circumstance whatsoever, including any amendment,
renewal or extension of any Letter of Credit or the occurrence and continuance of a Default or
reduction or termination of the Revolving Credit Commitments, and that each Appropriate such
payment shall be made without any offset, abatement, withholding or reduction whatsoever. Each
Appropriate Lender further acknowledges and agrees that its participation in each Letter of Credit
will be automatically adjusted to reflect such Lender’s Ratable Share of the Available Amount of
such Letter of Credit at each time such Lender’s Revolving Credit Commitment under the applicable
Facility is amended pursuant to a Commitment Increase in accordance with Section 2.18, an
assignment in accordance with Section 9.07 or otherwise pursuant to this Agreement.

          (c) Drawing and Reimbursement. The payment by an Issuing Bank of a draft drawn under
any Letter of Credit which is not reimbursed by the applicable Borrower on the date made shall
constitute for all purposes of this Agreement the making by any such Issuing Bank of an Advance,
which shall be a Base Rate Advance, in the case of a Letter of Credit issued by a Tranche A Issuing
Bank and shall be a Eurocurrency Rate Advance having an Interest Period of one month, in the case
of a Letter of Credit issued by a Tranche B Issuing Bank, in the amount of such draft, without
regard to whether the making of such an Advance would exceed such Issuing Bank’s Unused Commitment.
Each Issuing Bank shall give prompt notice of each drawing under any Letter of Credit issued by it
to the applicable Borrower and the Agent. Upon written demand by such Issuing Bank, with a copy of
such demand to the Agent and the applicable Borrower, each Appropriate Lender shall pay to the
Agent such Lender’s Ratable Share of such outstanding Advance pursuant to Section 2.03(b). Each
Lender acknowledges and agrees that its obligation to make Advances pursuant to this paragraph in
respect of Letters of Credit is absolute and unconditional and shall not be affected by any
circumstance whatsoever, including any amendment, renewal or extension of any Letter of Credit or
the occurrence and continuance of a Default or reduction or termination of the Revolving Credit
Commitments, and that each such payment shall be made without any offset, abatement, withholding or
reduction whatsoever. Promptly after receipt thereof, the Agent shall transfer such funds to such
Issuing Bank. Each Appropriate Lender agrees to fund its Ratable Share of an outstanding Advance
on (i) the Business Day on which demand therefor is made by such Issuing Bank, provided
that notice of such demand is given not later than 11:00 A.M. (New York City time) in the case of
the Tranche A Facility or later than 11:00 A.M. (London time) in the case of the Tranche B Facility
on such Business Day, or (ii) the first Business Day next succeeding such demand if notice of such
demand is given after such time. If and to the extent that any Appropriate Lender shall not have
so made the amount of such Advance available to the Agent, such Lender agrees to pay to the Agent

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forthwith on demand such amount together with interest thereon, for each day from the date of
demand by any such Issuing Bank until the date such amount is paid to the Agent, for its account or
the account of such Issuing Bank, as applicable, at the higher of the Overnight Rate and the cost
of funds incurred by the Agent in respect of such amount, plus any administrative, processing or
similar fees customarily charged by the Agent in connection with the foregoing. If such
Appropriate Lender shall pay to the Agent such amount for the account of any such Issuing Bank on
any Business Day, such amount so paid in respect of principal shall constitute an Advance made by
such Lender on such Business Day for purposes of this Agreement, and the outstanding principal
amount of the Advance made by such Issuing Bank shall be reduced by such amount on such Business
Day.

          (d) Letter of Credit Reports. Each Issuing Bank shall furnish (A) to the Agent and
each Appropriate Lender (with a copy to the Company) on the first Business Day of each month a
written report summarizing Issuance and expiration dates of Letters of Credit issued by such
Issuing Bank during the preceding month and drawings during such month under all Letters of Credit
and (B) to the Agent and each Appropriate Lender (with a copy to the Company) on the first Business
Day of each calendar quarter a written report setting forth the average daily aggregate Available
Amount during the preceding calendar quarter of all Letters of Credit issued by such Issuing Bank.

          (e) Failure to Make Advances. The failure of any Appropriate Lender to make the
Advance to be made by it on the date specified in Section 2.03(c) shall not relieve any other
Appropriate Lender of its obligation hereunder to make its Advance on such date, but no Appropriate
Lender shall be responsible for the failure of any other Appropriate Lender to make the Advance to
be made by such other Lender on such date.

          SECTION 2.04. Fees. (a) Commitment Fee. The Company agrees to pay to the
Agent for the account of each Lender a commitment fee from the Effective Date in the case of each
Initial Lender and from the effective date specified in the Assumption Agreement or in the
Assignment and Assumption pursuant to which it became a Lender in the case of each other Lender
until the Termination Date applicable to such Lender payable in arrears quarterly on the last day
of each March, June, September and December, commencing December 31, 2011, and on the Termination
Date applicable to each Lender at a rate per annum equal to the Applicable Percentage in effect
from time to time on the aggregate amount of such Lender’s Unused Commitment plus its Ratable Share
of the average daily outstanding Swing Line Advances under the applicable Facility during such
quarter, provided that no Defaulting Lender shall be entitled to receive any commitment fee
for any period during which that Lender is a Defaulting Lender (and the Company shall not be
required to pay such fee that otherwise would have been required to have been paid to that
Defaulting Lender).

          (b) Letter of Credit Fees. (i) Each Borrower shall pay to the Agent for the account
of each Appropriate Lender a commission on such Lender’s Ratable Share of the average daily
aggregate Available Amount of all Letters of Credit issued for the account of such Borrower and
outstanding from time to time at a rate per annum equal to the Applicable Margin for Eurocurrency
Rate Advances in effect from time to time during such calendar quarter, payable in arrears
quarterly on the last day of each March, June, September and December, commencing with the quarter
ended December 31, 2011, and on the Termination Date applicable to such Lender; provided,
further, that (x) to the extent that all or a portion of the Fronting Exposure in respect
of any Defaulting Lender is reallocated to the Non-Defaulting Lenders pursuant to Section 2.20(a),
such fees that would have accrued for the benefit of such Defaulting Lender will instead accrue for
the benefit of and be payable to such Non-Defaulting Lenders, pro rata in
accordance with their respective Revolving Credit Commitments under the applicable Facility, and
(y) to the extent that all or any portion of such Fronting Exposure cannot be so reallocated, such
fees will instead accrue for the benefit of and be payable to the respective Issuing Banks ratably
according to the outstanding Letters of Credit issued by each Issuing Bank under such Facility.

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          (ii) Each Borrower shall pay to each Issuing Bank, for its own account, a fronting fee and
such other commissions, issuance fees, transfer fees and other fees and charges in connection with
the Issuance or administration of each Letter of Credit as such Borrower and such Issuing Bank
shall agree.

          (c) Agent’s Fees. The Company shall pay to the Agent for its own account such fees as
may from time to time be agreed between the Company and the Agent.

          SECTION 2.05. Termination or Reduction of the Commitments. (a) The Company shall
have the right, upon at least three Business Days’ notice to the Agent, to terminate in whole or
permanently reduce ratably in part the Unused Commitments or the Unissued Letter of Credit
Commitments of the Lenders under any Facility, provided that each partial reduction (x)
shall be in the minimum aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in
excess thereof and (y) shall be made ratably among the Appropriate Lenders in accordance with their
Commitments with respect to such Facility.

          (b) The Company shall have the right, at any time, upon at least three Business Days’ notice
to a Defaulting Lender (with a copy to the Agent), to terminate in whole such Defaulting Lender’s
Commitment under this Section 2.05(b), the Borrowers will pay all principal of, and interest
accrued to the date of such payment on, Advances owing to such Defaulting Lender and pay any
accrued commitment fee payable to such Defaulting Lender pursuant to Section 2.04(a) and all other
amounts payable to such Defaulting Lender hereunder (including but not limited to any increased
costs, additional interest or other amounts owing under Section 2.11, any indemnification for taxes
under Section 2.14, and any compensation payments due as provided in Section 9.04(c); and upon such
payments, the obligations of such Defaulting Lender hereunder shall, by the provisions hereof, be
released and discharged; provided, however, that (i) such Defaulting Lender’s
rights under Sections 2.11, 2.14 and 9.04 and its obligations under Section 9.04 shall survive such
release and discharge as to matters occurring prior to such date and (ii) no claim that the
Borrowers may have against such Defaulting Lender arising out of such Defaulting Lender’s default
hereunder shall be released or impaired in any way, The aggregate amount of the Commitments of the
Appropriate Lenders once reduced pursuant this Section 2.05(b) may not be reinstated;
provided, further, however, that if pursuant to this Section 2.05(b), the
Borrowers shall pay to a Defaulting Lender any principal of, or interest accrued on, the Advances
owing to such Defaulting Lender, then the Borrowers shall either (x) confirm to the Agent that the
conditions set forth in Section 3.03(a) are met on and as of such date of payment or (y) pay or
cause to be paid a ratable payment of principal and interest to all Appropriate Lenders who are not
Defaulting Lenders.

          SECTION 2.06. Repayment of Advances and Letter of Credit Drawings. (a) Revolving
Credit Advances. Each Borrower shall repay to the Agent for the ratable account of each Lender
on the Termination Date applicable to such Lender the aggregate principal amount of the Revolving
Credit Advances made to it and then outstanding.

          (b) Letter of Credit Drawings. The obligations of each Borrower under any Letter of
Credit Agreement and any other agreement or instrument relating to any Letter of Credit issued for
the account of such Borrower shall be unconditional and irrevocable, and shall be paid strictly in
accordance with the terms of this Agreement, such Letter of Credit Agreement and such other
agreement or instrument under all circumstances, including, without limitation, the following
circumstances (it being understood that any such payment by such Borrower is without prejudice to,
and does not constitute a waiver of, any rights such Borrower might have or might acquire as a
result of the payment by any Lender of any draft or the reimbursement by such Borrower thereof):

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     (i) any lack of validity or enforceability of this Agreement, any Note, any Letter of
Credit Agreement, any Letter of Credit or any other agreement or instrument relating thereto
(all of the foregoing being, collectively, the “L/C Related Documents”);

     (ii) any change in the time, manner or place of payment of, or in any other term of,
all or any of the obligations of such Borrower in respect of any L/C Related Document or any
other amendment or waiver of or any consent to departure from all or any of the L/C Related
Documents;

     (iii) the existence of any claim, set-off, defense or other right that such Borrower
may have at any time against any beneficiary or any transferee of a Letter of Credit (or any
Persons for which any such beneficiary or any such transferee may be acting), any Issuing
Bank, the Agent, any Lender or any other Person, whether in connection with the transactions
contemplated by the L/C Related Documents or any unrelated transaction;

     (iv) any statement or any other document presented under a Letter of Credit proving to
be forged, fraudulent, invalid or insufficient in any respect or any statement therein being
untrue or inaccurate in any respect;

     (v) payment by any Issuing Bank under a Letter of Credit against presentation of a
draft or certificate that does not strictly comply with the terms of such Letter of Credit;

     (vi) any exchange, release or non-perfection of any collateral, or any release or
amendment or waiver of or consent to departure from any guarantee, for all or any of the
obligations of such Borrower in respect of the L/C Related Documents; or

     (vii) any other circumstance or happening whatsoever, whether or not similar to any of
the foregoing, including, without limitation, any other circumstance that might otherwise
constitute a defense available to, or a discharge of, such Borrower or a guarantor.

          (c) Swing Line Advances. Each Borrower shall repay to the Agent for the ratable
account of the applicable Swing Line Bank and each Appropriate Lender which has made a Swing Line
Advance the outstanding principal amount of each Swing Line Advance made to it by each of them on
the earlier of the last day of the Interest Period specified in the applicable Notice of Swing Line
Borrowing (which Interest Period shall end no later than five Business Days after the requested
date of such Borrowing) and the Termination Date applicable to such Lender.

          SECTION 2.07. Interest on Advances. (a) Scheduled Interest. Each Borrower
shall pay interest on the unpaid principal amount of each Advance made to it and owing to each
Lender from the date of such Advance until such principal amount shall be paid in full, at the
following rates per annum:

     (i) Base Rate Advances. During such periods as such Revolving Credit Advance
is a Base Rate Advance and for each Tranche A Swing Line Advance, a rate per annum equal at
all times to the sum of (x) the Base Rate in effect from time to time plus (y) the
Applicable Margin in effect from time to time, payable in arrears quarterly on the last day
of each March, June, September and December during such periods and on the date such Base
Rate Advance shall be Converted or paid in full or Swing Line Advance is paid in full.

     (ii) Eurocurrency Rate Advances. During such periods as such Revolving Credit
Advance is a Eurocurrency Rate Advance and for each Tranche B Swing Line Advance, a rate

32

 

per annum equal at all times during each Interest Period for such Revolving Credit
Advance to the sum of (x) the Eurocurrency Rate for such Interest Period for such Advance
plus (y) the Applicable Margin in effect from time to time plus (x) Mandatory Cost,
if any, payable in arrears on the last day of such Interest Period and, if such Interest
Period has a duration of more than three months, on each day that occurs during such
Interest Period every three months from the first day of such Interest Period and on the
date such Eurocurrency Rate Advance shall be Converted or such Advance shall be paid in
full.

          (b) Default Interest. Upon the occurrence and during the continuance of an Event of
Default under Section 6.01(a), the Agent may, and upon the request of the Required Lenders shall,
require the Borrowers to pay interest (“Default Interest”) on (i) the unpaid principal
amount of each overdue Advance owing to each Lender, payable in arrears on the dates referred to in
clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 1% per annum above the
rate per annum required to be paid on such Advance pursuant to clause (a)(i) or (a)(ii) above and
(ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount
payable hereunder that is not paid when due, from the date such amount shall be due until such
amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and
on demand, at a rate per annum equal at all times to 1% per annum above the rate per annum required
to be paid on Base Rate Advances pursuant to clause (a)(i) above; provided,
however, that following acceleration of the Advances pursuant to Section 6.01, Default
Interest shall accrue and be payable hereunder whether or not previously required by the Agent.

          SECTION 2.08. Interest Rate Determination. (a) Each Reference Bank agrees, if
requested by the Agent, to furnish to the Agent timely information for the purpose of determining
each Eurocurrency Rate or each EURIBO Rate. If any one or more of the Reference Banks shall not
furnish such timely information to the Agent for the purpose of determining any such interest rate,
the Agent shall determine such interest rate on the basis of timely information furnished by the
remaining Reference Banks. The Agent shall give prompt notice to the Company and the Appropriate
Lenders of the applicable interest rate determined by the Agent for purposes of Section 2.07(a)(i)
or (ii), and the rate, if any, furnished by each Reference Bank for the purpose of determining the
interest rate under Section 2.07(a)(ii).

          (b) If, with respect to any Eurocurrency Rate Advances under any Facility, the Lenders owed at
least 50% of the then aggregate unpaid principal amount of such Facility notify the Agent that the
Eurocurrency Rate for any Interest Period for such Advances will not adequately reflect the cost to
such Lenders of making, funding or maintaining their Eurocurrency Rate Advances for such Interest
Period, the Agent shall forthwith so notify the applicable Borrower and the Appropriate Lenders,
whereupon (i) in the case of Advances outstanding under the Tranche A Facility, the Borrower of
such Eurocurrency Rate Advances will, on the last day of the then existing Interest Period
therefor, (A) if such Eurocurrency Rate Advances are denominated in Dollars, either (x) prepay such
Advances or (y) Convert such Advances into Base Rate Advances and (B) if such Eurocurrency Rate
Advances are denominated in any Committed Currency, either (x) prepay such Advances or (y) exchange
such Advances into an Equivalent amount of Dollars and Convert such Advances into Base Rate
Advances, (ii) in the case of Advances outstanding under the Tranche B Facility or the Tranche C
Facility, the Borrower of such Eurocurrency Rate Advances will, on the last day of the then
existing Interest Period therefor prepay such Advances and (iii) the obligation of the Appropriate
Lenders to make, or to Convert Tranche A Revolving Credit Advances into, Eurocurrency Rate Advances
shall be suspended until the Agent shall notify the Company and the Appropriate Lenders that the
circumstances causing such suspension no longer exist.

          (c) If any Borrower shall fail to select the duration of any Interest Period for any
Eurocurrency Rate Advances in accordance with the provisions contained in the definition of
“Interest Period” in Section 1.01, the Agent will forthwith so notify such Borrower and the
Appropriate Lenders

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and such Advances will automatically, on the last day of the then existing Interest Period
therefor, (i) in the case of Advances outstanding under the Tranche A Facility, (x) if such
Eurocurrency Rate Advances are denominated in Dollars, Convert into Base Rate Advances and (y) if
such Eurocurrency Rate Advances are denominated in a Committed Currency, be exchanged for an
Equivalent amount of Dollars and Convert into Base Rate Advances and (ii) in the case of Advances
outstanding under the Tranche B Facility or the Tranche C Facility, shall be continued with an
Interest Period of one month.

          (d) On the date on which the aggregate unpaid principal amount of Eurocurrency Rate Advances
comprising any Borrowing shall be reduced, by payment or prepayment or otherwise, to less than the
Revolving Credit Borrowing Minimum, (i) in the case of Advances outstanding under the Tranche A
Facility, such Advances shall automatically (A) if such Eurocurrency Rate Advances are denominated
in Dollars, Convert into Base Rate Advances and (B) if such Eurocurrency Rate Advances are
denominated in a Committed Currency, be exchanged for an Equivalent amount of Dollars and Convert
into Base Rate Advances and (ii) in the case of Advances outstanding under the Tranche B Facility
or the Tranche C Facility, shall be repaid at the end of the applicable Interest Period.

          (e) Upon the occurrence and during the continuance of any Event of Default, (i) each
Eurocurrency Rate Advance under the Tranche A Facility will automatically, on the last day of the
then existing Interest Period therefor, (A) if such Eurocurrency Rate Advances are denominated in
Dollars, be Converted into Base Rate Advances and (B) if such Eurocurrency Rate Advances are
denominated in any Committed Currency, be exchanged for an Equivalent amount of Dollars and be
Converted into Base Rate Advances, (ii) the obligation of the Tranche A Lenders to make, or to
Convert Advances into, Eurocurrency Rate Advances shall be suspended and (iii) each Eurocurrency
Rate Advance under the Tranche B Facility or the Tranche C Facility shall not be continued with an
Interest Period of longer than one month.

          (f) If Reuters LIBOR01 Page is unavailable and fewer than two Reference Banks furnish timely
information to the Agent for determining the Eurocurrency Rate or EURIBO Rate, as the case may be,
for any Eurocurrency Rate Advances after the Agent has requested such information,

     (i) the Agent shall forthwith notify the applicable Borrower and the Appropriate
Lenders that the interest rate cannot be determined for such Eurocurrency Rate Advances,

     (ii) each such Advance will automatically, on the last day of the then existing
Interest Period therefor, (A) in the case of Advances outstanding under the Tranche A
Facility, (1) if such Eurocurrency Rate Advance is denominated in Dollars, Convert into a
Base Rate Advance and (2) if such Eurocurrency Rate Advance is denominated in any Committed
Currency, be prepaid by the applicable Borrower or be automatically exchanged for an
Equivalent amount of Dollars and be Converted into a Base Rate Advance (or if such Advance
is then a Base Rate Advance, will continue as a Base Rate Advance) and (B) in the case of
Advances outstanding under the Tranche B Facility or the Tranche C Facility, shall bear
interest at the Overnight Rate, and

     (iii) the obligation of the Lenders to make Eurocurrency Rate Advances or to Convert
Revolving Credit Advances into Eurocurrency Rate Advances shall be suspended until the Agent
shall notify the Company and the Lenders that the circumstances causing such suspension no
longer exist.

          SECTION 2.09. Optional Conversion of Tranche A Revolving Credit Advances. The
Borrower of any Advance may on any Business Day, upon notice given to the Agent not later than
11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed
Conversion and subject to the provisions of Sections 2.08 and 2.12, Convert all Tranche A Revolving
Credit

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Advances
denominated in Dollars of one Type comprising the same Borrowing into Tranche A Revolving
Credit Advances denominated in Dollars of the other Type; provided, however, that
any Conversion of Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last
day of an Interest Period for such Eurocurrency Rate Advances, any Conversion of Base Rate Advances
into Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in
Section 2.02(c), no Conversion of any Revolving Credit Advances shall result in more separate
Revolving Credit Borrowings than permitted under Section 2.02(c) and each Conversion of Advances
comprising part of the same Borrowing shall be made ratably among the Tranche A Lenders in
accordance with their Tranche A Revolving Credit Commitments. Each such notice of a Conversion
shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the
Dollar denominated Tranche A Revolving Credit Advances to be Converted, and (iii) if such
Conversion is into Eurocurrency Rate Advances, the duration of the initial Interest Period for each
such Advance. Each notice of Conversion shall be irrevocable and binding on the Borrower giving
such notice.

          SECTION 2.10. Prepayments of Advances. (a) Optional. Each Borrower may,
upon notice at least two Business Days’ prior to the date of such prepayment, in the case of
Eurocurrency Rate Advances, and not later than 11:00 A.M. (New York City time) on the date of such
prepayment, in the case of Base Rate Advances, to the Agent stating the proposed date and aggregate
principal amount of the prepayment, and if such notice is given such Borrower shall, prepay the
outstanding principal amount of the Advances comprising part of the same Borrowing in whole or
ratably in part, together with accrued interest to the date of such prepayment on the principal
amount prepaid; provided, however, that (x) each partial prepayment of Revolving
Credit Advances shall be in an aggregate principal amount of not less than the Revolving Credit
Borrowing Minimum or a Revolving Credit Borrowing Multiple in excess thereof, (y) each partial
prepayment of Swing Line Advances shall in an aggregate principal amount of not less than
$1,000,000, in the case of the Tranche A Swing Line Advance or €1,000,000, in the case of a Tranche
B Swing Line Advance and (z) in the event of any such prepayment of a Eurocurrency Rate Advance,
such Borrower shall be obligated to reimburse the Appropriate Lenders in respect thereof pursuant
to Section 9.04(c).

          (b) Mandatory. (i) If, on any date, the Agent notifies the Company that, on any
interest payment date in respect of a Facility, the sum of the aggregate principal amount of all
Advances plus the aggregate Available Amount of all Letters of Credit then outstanding (in each
case determined as the Equivalent in Dollars (determined on the third Business Day prior to such
interest payment date) of the aggregate principal amount of all Advances and Letters of Credit
denominated in Committed Currencies) then outstanding exceeds 103% of the aggregate Revolving
Credit Commitments of the Appropriate Lenders on such date, the Borrowers shall, as soon as
practicable and in any event within two Business Days after receipt of such notice, prepay the
outstanding principal amount of any Advances owing by the Borrowers in an aggregate amount
sufficient to reduce such sum to an amount not to exceed 100% of the aggregate Revolving Credit
Commitments of the Appropriate Lenders on such date.

     (ii) Each prepayment made pursuant to this Section 2.10(b) shall be made together with
any interest accrued to the date of such prepayment on the principal amounts prepaid and, in
the case of any prepayment of a Eurocurrency Rate Advance on a date other than the last day
of an Interest Period or at its maturity, any additional amounts which the applicable
Borrower shall be obligated to reimburse to the Appropriate Lenders in respect thereof
pursuant to Section 9.04(c). The Agent shall give prompt notice of any prepayment required
under this Section 2.10(b) to the Company and the Appropriate Lenders.

          SECTION 2.11. Increased Costs. (a) Increased Costs Generally. If any Change
in Law shall:

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     (i) impose, modify or deem applicable any reserve, special deposit, compulsory loan,
insurance charge or similar requirement against assets of, deposits with or for the account
of, or credit extended or participated in by, any Lender (except any reserve requirement
reflected in the Eurocurrency Rate) or any Issuing Bank;

     (ii) subject any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes
described in clauses (b) through (d) of the definition of Excluded Taxes and (C) Connection
Income Taxes) on its loans, loan principal, letters of credit, commitments, or other
obligations, or its deposits, reserves, other liabilities or capital attributable thereto;
or

     (iii) impose on any Lender or any Issuing Bank or the London interbank market any other
condition, cost or expense (other than Taxes or compensated for by the payment of the
Mandatory Cost) affecting this Agreement or Advances made by such Lender or any Letter of
Credit or participation therein;

and the result of any of the foregoing shall be to increase the cost to such Lender or such other
Recipient of making, converting to, continuing or maintaining any Advance or of maintaining its
obligation to make any such Advance, or to increase the cost to such Lender, such Issuing Bank or
such other Recipient of participating in, issuing or maintaining any Letter of Credit (or of
maintaining its obligation to participate in or to issue any Letter of Credit), or to reduce the
amount of any sum received or receivable by such Lender, Issuing Bank or other Recipient hereunder
(whether of principal, interest or any other amount) then, upon written request of such Lender,
Issuing Bank or other Recipient, the Borrowers will pay to such Lender, Issuing Bank or other
Recipient, as the case may be, such additional amount or amounts as will compensate such Lender,
Issuing Bank or other Recipient, as the case may be, for such additional costs incurred or
reduction suffered.

          (b) Capital Requirements. If any Lender or Issuing Bank reasonably determines that
any Change in Law affecting such Lender or Issuing Bank or any lending office of such Lender or
such Lender’s or Issuing Bank’s holding company, if any, regarding capital or liquidity
requirements, has or would have the effect of reducing the rate of return on such Lender’s or
Issuing Bank’s capital or on the capital of such Lender’s or Issuing Bank’s holding company, if
any, as a consequence of this Agreement, the Commitments of such Lender or the Advances made by, or
participations in Letters of Credit or Swing Line Advances held by, such Lender, or the Letters of
Credit issued by any Issuing Bank, to a level below that which such Lender or Issuing Bank or such
Lender’s or Issuing Bank’s holding company could have achieved but for such Change in Law (taking
into consideration such Lender’s or Issuing Bank’s policies and the policies of such Lender’s or
Issuing Bank’s holding company with respect to capital adequacy), then from time to time the
Borrowers will pay to such Lender or Issuing Bank, as the case may be, such additional amount or
amounts as will compensate such Lender or Issuing Bank or such Lender’s or Issuing Bank’s holding
company for any such reduction suffered.

          (c) Certificates for Reimbursement. A certificate of a Lender, Issuing Bank or other
Recipient setting forth the amount or amounts necessary to compensate such Lender or Issuing Bank
or its holding company, as the case may be, and demonstrating in reasonable detail the calculations
used, as specified in paragraph (a) or (b) of this Section and delivered to the Borrowers, shall be
conclusive absent manifest error. In preparation of any certificate by a Lender, Issuing Bank or
other Recipient under this subsection (c), such Person shall not be required to disclose any
information that such Person reasonably deems to be confidential or proprietary. The Borrowers
shall pay such Lender, Issuing Bank or Recipient, as the case may be, the amount shown as due on
any such certificate within 10 days after receipt thereof.

          (d) Delay in Requests. Failure or delay on the part of any Lender, Issuing Bank or
other Recipient to demand compensation pursuant to this Section shall not constitute a waiver of
such

36

 

Lender’s, Issuing Bank’s or other Recipient’s right to demand such compensation;
provided that the Borrowers shall not be required to compensate a Lender, Issuing Bank or
other Recipient pursuant to this Section for any increased costs incurred or reductions suffered
more than 180 days prior to the date that such Lender, Issuing Bank or other Recipient, as the case
may be, notifies the Borrowers of the Change in Law giving rise to such increased costs or
reductions, and of such Lender’s, Issuing Bank’s or other Recipient’s intention to claim
compensation therefor (except that, if the Change in Law giving rise to such increased costs or
reductions is retroactive, then the 180-day period referred to above shall be extended to include
the period of retroactive effect thereof).

          SECTION 2.12. Illegality. Notwithstanding any other provision of this Agreement, if
any Lender shall notify the Agent that the introduction of or any change in or in the
interpretation of any law or regulation makes it unlawful, or any central bank or other
Governmental Authority asserts that it is unlawful, for any Lender or its Eurocurrency Lending
Office to perform its obligations hereunder to make Eurocurrency Rate Advances in Dollars or any
Committed Currency or to fund or maintain Eurocurrency Rate Advances in Dollars or any Committed
Currency hereunder, (a) each Eurocurrency Rate Advance will automatically, upon such demand (i) in
the case of Advances outstanding under the Tranche A Facility (A) if such Eurocurrency Rate Advance
is denominated in Dollars, be Converted into a Base Rate Advance and (B) if such Eurocurrency Rate
Advance is denominated in any Committed Currency, be exchanged into an Equivalent amount of Dollars
and be Converted into a Base Rate Advance and (ii) in the case of Advances outstanding under the
Tranche B Facility or the Tranche C Faculty, be prepaid and (b) the obligation of the Appropriate
Lenders to make Eurocurrency Rate Advances or to Convert Revolving Credit Advances into
Eurocurrency Rate Advances shall be suspended until the Agent shall notify the Company and the
Lenders that the circumstances causing such suspension no longer exist; provided,
however, that before making any such demand, each Lender agrees to use reasonable efforts
(consistent with its internal policy and legal and regulatory restrictions) to designate a
different Eurocurrency Lending Office if the making of such a designation would allow such Lender
or its Eurocurrency Lending Office to continue to perform its obligations to make Eurocurrency Rate
Advances or to continue to fund or maintain Eurocurrency Rate Advances and would not, in the
judgment of such Lender, be otherwise disadvantageous to such Lender.

          SECTION 2.13. Payments and Computations. (a) Each Borrower shall make each payment
hereunder (except with respect to principal of, interest on, and other amounts relating to,
Advances denominated in a Committed Currency), irrespective of any right of counterclaim or
set-off, not later than 11:00 A.M. (New York City time) on the day when due in Dollars to the Agent
at the applicable Agent’s Account in same day funds. Each Borrower shall make each payment
hereunder with respect to principal of, interest on, and other amounts relating to, Advances
denominated in a Committed Currency, irrespective of any right of counterclaim or set-off, not
later than 11:00 A.M. (at the Payment Office for such Committed Currency) on the day when due in
such Committed Currency to the Agent, by deposit of such funds to the applicable Agent’s Account in
same day funds. The Agent will promptly thereafter cause to be distributed like funds relating to
the payment of principal or interest, fees or commissions ratably (other than amounts payable
pursuant to Section 2.04(b), 2.11, 2.14 or 9.04(c)) to the Appropriate Lenders for the account of
their respective Applicable Lending Offices, and like funds relating to the payment of any other
amount payable to any Lender to such Lender for the account of its Applicable Lending Office, in
each case to be applied in accordance with the terms of this Agreement. Upon any Assuming Lender
becoming a Lender hereunder as a result of a Commitment Increase pursuant to Section 2.18 or an
extension of the Commitments pursuant to Section 2.19 and upon the Agent’s receipt of such Lender’s
Assumption Agreement and recording of the information contained therein in the Register, from and
after the applicable Increase Date or Extension Date, the Agent shall make all payments hereunder
and under any Notes issued in connection therewith in respect of the interest assumed thereby to
the Assuming Lender. Upon its acceptance of an Assignment and Assumption and recording of the
information contained therein in the Register pursuant to Section 9.07(c), from and after the
effective date

37

 

specified in such Assignment and Assumption, the Agent shall make all payments hereunder and
under the Notes in respect of the interest assigned thereby to the Lender assignee thereunder, and
the parties to such Assignment and Assumption shall make all appropriate adjustments in such
payments for periods prior to such effective date directly between themselves.

          (b) All computations of interest based on clause (a) of the definition of Base Rate shall be
made by the Agent on the basis of a year of 365 or 366 days, as the case may be, and all other
computations of interest and of fees and Letter of Credit commissions shall be made by the Agent on
the basis of a year of 360 days (or, in each case of Advances denominated in Committed Currencies
where market practice differs, in accordance with market practice), in each case for the actual
number of days (including the first day but excluding the last day) occurring in the period for
which such interest, fees or commissions are payable. Each determination by the Agent of an
interest rate hereunder shall be conclusive and binding for all purposes, absent manifest error.

          (c) Whenever any payment hereunder or under the Notes shall be stated to be due on a day other
than a Business Day, such payment shall be made on the next succeeding Business Day, and such
extension of time shall in such case be included in the computation of payment of interest, fee or
commission, as the case may be; provided, however, that, if such extension would
cause payment of interest on or principal of Eurocurrency Rate Advances to be made in the next
following calendar month, such payment shall be made on the next preceding Business Day.

          (d) Unless the Agent shall have received notice from any Borrower prior to the date on which
any payment is due to the Lenders hereunder that such Borrower will not make such payment in full,
the Agent may assume that such Borrower has made such payment in full to the Agent on such date and
the Agent may, in reliance upon such assumption, cause to be distributed to each Lender on such due
date an amount equal to the amount then due such Lender. If and to the extent such Borrower shall
not have so made such payment in full to the Agent, each Lender shall repay to the Agent forthwith
on demand such amount distributed to such Lender together with interest thereon, for each day from
the date such amount is distributed to such Lender until the date such Lender repays such amount to
the Agent, at the higher of the Overnight Rate and the cost of funds incurred by the Agent in
respect of such amount, plus any administrative, processing or similar fees customarily charge by
the Agent in connection with the foregoing.

          (e) To the extent that the Agent receives funds for application to the amounts owing by any
Borrower under or in respect of this Agreement or any Note in currencies other than the currency or
currencies required to enable the Agent to distribute funds to the Appropriate Lenders in
accordance with the terms of this Section 2.13, the Agent shall be entitled to convert or exchange
such funds into from one currency into another currency to the extent necessary to enable the Agent
to distribute such funds in accordance with the terms of this Section 2.13; provided that
each Borrower and each of the Lenders hereby agree that the Agent shall not be liable or
responsible for any loss, cost or expense suffered by such Borrower or such Lender as a result of
any conversion or exchange of currencies affected pursuant to this Section 2.13(e) or as a result
of the failure of the Agent to effect any such conversion or exchange; and provided further that
the Borrowers agree to indemnify the Agent and each Lender, and hold the Agent and each Lender
harmless, for any and all losses, costs and expenses incurred by the Agent or any Lender for any
conversion or exchange of currencies (or the failure to convert or exchange any currencies) in
accordance with this Section 2.13(e).

          SECTION 2.14. Taxes. (a) Issuing Bank. For purposes of this Section 2.14,
the term “Lender” includes any Issuing Bank.

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          (b) Payments Free of Taxes. Any and all payments by or on account of any obligation
of any Loan Party under any Loan Document shall be made without deduction or withholding for any
Taxes, except as required by applicable law. If any applicable law (as determined in the good
faith discretion of an applicable Withholding Agent) requires the deduction or withholding of any
Tax from any such payment by a Withholding Agent, then the applicable Withholding Agent shall be
entitled to make such deduction or withholding and shall timely pay the full amount deducted or
withheld to the relevant Governmental Authority in accordance with applicable law and, if such Tax
is an Indemnified Tax, then the sum payable by the applicable Loan Party shall be increased as
necessary so that after such deduction or withholding has been made (including such deductions and
withholdings applicable to additional sums payable under this Section) the applicable Recipient
receives an amount equal to the sum it would have received had no such deduction or withholding
been made.

          (c) Payment of Other Taxes by the Borrower. The Loan Parties shall timely pay to the
relevant Governmental Authority in accordance with applicable law, or at the option of the Agent
timely reimburse it for the payment of, any Other Taxes.

          (d) Indemnification by the Borrower. The Loan Parties shall jointly and severally
indemnify each Recipient, within 10 days after demand therefor, for the full amount of any
Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts
payable under this Section) payable or paid by such Recipient or required to be withheld or
deducted from a payment to such Recipient and any reasonable expenses arising therefrom or with
respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or
asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or
liability delivered to the Company by a Lender (with a copy to the Agent), or by the Agent on its
own behalf or on behalf of a Lender, shall be conclusive absent manifest error.

          (e) Indemnification by the Lenders. Each Lender shall severally indemnify the Agent,
within 10 days after demand therefor, for (i) any Indemnified Taxes attributable to such Lender
(but only to the extent that any Loan Party has not already indemnified the Agent for such
Indemnified Taxes and without limiting the obligation of the Loan Parties to do so), (ii) any Taxes
attributable to such Lender’s failure to comply with the provisions of Section 9.07(d) relating to
the maintenance of a Participant Register and (iii) any Excluded Taxes attributable to such Lender,
in each case, that are payable or paid by the Agent in connection with any Loan Document, and any
reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were
correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as
to the amount of such payment or liability delivered to any Lender by the Agent shall be conclusive
absent manifest error. Each Lender hereby authorizes the Agent to set off and apply any and all
amounts at any time owing to such Lender under any Loan Document or otherwise payable by the Agent
to the Lender from any other source against any amount due to the Agent under this paragraph (e).

          (f) Evidence of Payments. As soon as practicable after any payment of Taxes by any
Loan Party to a Governmental Authority pursuant to this Section 2.14, such Loan Party shall deliver
to the Agent the original or a certified copy of a receipt issued by such Governmental Authority
evidencing such payment, a copy of the return reporting such payment or other evidence of such
payment reasonably satisfactory to the Agent.

          (g) Status of Lenders. (i) Any Lender that is entitled to an exemption from or
reduction of withholding Tax with respect to payments made under any Loan Document shall deliver to
the Company and the Agent, at the time or times reasonably requested by the Company or the Agent,
such properly completed and executed documentation reasonably requested by the Company or the Agent
as will permit such payments to be made without withholding or at a reduced rate of withholding.
In

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addition, any Lender, if reasonably requested by the Company or the Agent, shall deliver such
other documentation prescribed by applicable law or reasonably requested by the Company or the
Agent as will enable the Company or the Agent to determine whether or not such Lender is subject to
backup withholding or information reporting requirements. Notwithstanding anything to the contrary
in the preceding two sentences, the completion, execution and submission of such documentation
(other than such documentation set forth in Section 2.14(g)(ii)(A), (ii)(B) and (ii)(D) below)
shall not be required if in the Lender’s reasonable judgment such completion, execution or
submission would subject such Lender to any material unreimbursed cost or expense or would
materially prejudice the legal or commercial position of such Lender.

     (ii) Without limiting the generality of the foregoing, in the event that any Borrower
is a U.S. Borrower,

     (A) any Lender that is a U.S. Person shall deliver to the Company and the Agent
on or prior to the date on which such Lender becomes a Lender under this Agreement
(and from time to time thereafter upon the reasonable request of the Company or the
Agent), executed originals of IRS Form W-9 certifying that such Lender is exempt
from U.S. federal backup withholding tax;

     (B) any Foreign Lender shall, to the extent it is legally entitled to do so,
deliver to the Company and the Agent (in such number of copies as shall be requested
by the recipient) on or prior to the date on which such Foreign Lender becomes a
Lender under this Agreement (and from time to time thereafter upon the reasonable
request of the Company or the Agent), whichever of the following is applicable:

     (1) in the case of a Foreign Lender claiming the benefits of an income
tax treaty to which the United States is a party (x) with respect to
payments of interest under any Loan Document, executed originals of IRS Form
W-8BEN establishing an exemption from, or reduction of, U.S. federal
withholding Tax pursuant to the “interest” article of such tax treaty and
(y) with respect to any other applicable payments under any Loan Document,
IRS Form W-8BEN establishing an exemption from, or reduction of, U.S.
federal withholding Tax pursuant to the “business profits” or “other income”
article of such tax treaty;

     (2) executed originals of IRS Form W-8ECI;

     (3) in the case of a Foreign Lender claiming the benefits of the
exemption for portfolio interest under Section 881(c) of the Code, (x) a
certificate substantially in the form of Exhibit G-1 to the effect that such
Foreign Lender is not a “bank” within the meaning of Section 881(c)(3)(A) of
the Code, a “10 percent shareholder” of the Company within the meaning of
Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation”
described in Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance
Certificate”) and (y) executed originals of IRS Form W-8BEN; or

     (iii) to the extent a Foreign Lender is not the beneficial owner, as determined under
U.S. federal income tax principles, executed originals of IRS Form W-8IMY, accompanied by
IRS Form W-8ECI, IRS Form W-8BEN, a U.S. Tax Compliance Certificate substantially in the
form of Exhibit G-2 or Exhibit G-3, IRS Form W-9, and/or other certification documents from
each beneficial owner, as applicable; provided that if the Foreign Lender is a
partnership and one

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or more direct or indirect partners of such Foreign Lender are claiming the portfolio
interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate
substantially in the form of Exhibit G-4 on behalf of each such direct and indirect partner;

     (A) any Foreign Lender shall, to the extent it is legally entitled to do so,
deliver to the Company and the Agent (in such number of copies as shall be requested
by the recipient) on or prior to the date on which such Foreign Lender becomes a
Lender under this Agreement (and from time to time thereafter upon the reasonable
request of the Company or the Agent), executed originals of any other form
prescribed by applicable law as a basis for claiming exemption from or a reduction
in U.S. federal withholding Tax, duly completed, together with such supplementary
documentation as may be prescribed by applicable law to permit the Company or the
Agent to determine the withholding or deduction required to be made; and

     (B) if a payment made to a Lender under any Loan Document would be subject to
U.S. federal withholding Tax imposed by FATCA if such Lender were to fail to comply
with the applicable reporting requirements of FATCA (including those contained in
Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to
the Company and the Agent at the time or times prescribed by law and at such time or
times reasonably requested by the Company or the Agent such documentation prescribed
by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code)
and such additional documentation reasonably requested by the Company or the Agent
as may be necessary for the Company and the Agent to comply with their obligations
under FATCA and to determine that such Lender has complied with such Lender’s
obligations under FATCA or to determine the amount to deduct and withhold from such
payment. Solely for purposes of this clause (D), “FATCA” shall include any
amendments made to FATCA after the date of this Agreement.

     Each Lender agrees that if any form or certification it previously delivered expires or
becomes obsolete or inaccurate in any respect, it shall update such form or certification or
promptly notify the Company and the Agent in writing of its legal inability to do so.

          (h) Treatment of Certain Refunds. If any party determines, in its sole discretion
exercised in good faith, that it has received a refund of any Taxes as to which it has been
indemnified pursuant to this Section 2.14 (including by the payment of additional amounts pursuant
to this Section 2.14), it shall pay to the indemnifying party an amount equal to such refund (but
only to the extent of indemnity payments made under this Section with respect to the Taxes giving
rise to such refund), net of all out-of-pocket expenses (including Taxes) of such indemnified party
and without interest (other than any interest paid by the relevant Governmental Authority with
respect to such refund). Such indemnifying party, upon the request of such indemnified party,
shall repay to such indemnified party the amount paid over pursuant to this paragraph (h) (plus any
penalties, interest or other charges imposed by the relevant Governmental Authority) in the event
that such indemnified party is required to repay such refund to such Governmental Authority.
Notwithstanding anything to the contrary in this paragraph (h), in no event will the indemnified
party be required to pay any amount to an indemnifying party pursuant to this paragraph (h) the
payment of which would place the indemnified party in a less favorable net after-Tax position than
the indemnified party would have been in if the indemnification payments or additional amounts
giving rise to such refund had never been paid. This paragraph shall not be construed to require
any indemnified party to make available its Tax returns (or any other information relating to its
Taxes that it deems confidential) to the indemnifying party or any other Person.

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          SECTION 2.15. Sharing of Payments, Etc. If any Lender shall, by exercising any right
of setoff or counterclaim or otherwise, obtain payment in respect of any principal of or interest
on any of its Advances or other obligations hereunder resulting in such Lender receiving payment of
a proportion of the aggregate amount of its Advances and accrued interest thereon or other such
obligations greater than its pro rata share thereof as provided herein, then the Lender receiving
such greater proportion shall (a) notify the Agent of such fact, and (b) purchase (for cash at face
value) participations in the Advances and such other obligations of the other Lenders, or make such
other adjustments as shall be equitable, so that the benefit of all such payments shall be shared
by the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest
on their respective Advances and other amounts owing them; provided that

     (i) so long as the Advances shall not have become due and payable pursuant to Section
6.01, any excess payment received by any Appropriate Lender shall be shared on a pro rata
basis only with other Appropriate Lenders;

     (ii) if any such participations are purchased and all or any portion of the payment
giving rise thereto is recovered, such participations shall be rescinded and the purchase
price restored to the extent of such recovery, without interest; and

     (iii) the provisions of this paragraph shall not be construed to apply to (x) any
payment made by any Borrower pursuant to and in accordance with the express terms of this
Agreement (including the application of funds arising from the existence of a Defaulting
Lender), or (y) any payment obtained by a Lender as consideration for the assignment of or
sale of a participation in any of its Advances or participations in L/C Obligations to any
assignee or participant, other than to the Company or any Subsidiary thereof (as to which
the provisions of this paragraph shall apply).

          Each Loan Party consents to the foregoing and agrees, to the extent it may effectively do so
under applicable law, that any Lender acquiring a participation pursuant to the foregoing
arrangements may exercise against each Loan Party rights of setoff and counterclaim with respect to
such participation as fully as if such Lender were a direct creditor of each Loan Party in the
amount of such participation.

          SECTION 2.16. Evidence of Debt. (a) Each Lender shall maintain in accordance with
its usual practice an account or accounts evidencing the indebtedness of each Borrower to such
Lender resulting from each Advance owing to such Lender from time to time, including the amounts of
principal and interest payable and paid to such Lender from time to time hereunder in respect of
Advances. Each Borrower agrees that upon notice by any Lender to such Borrower (with a copy of
such notice to the Agent) to the effect that a Note is required or appropriate in order for such
Lender to evidence (whether for purposes of pledge, enforcement or otherwise) the Advances owing
to, or to be made by, such Lender, such Borrower shall promptly execute and deliver to such Lender
a Note payable to the order of such Lender in a principal amount up to the Revolving Credit
Commitment of such Lender.

          (b) The Register maintained by the Agent pursuant to Section 9.07(c) shall include a control
account, and a subsidiary account for each Lender, in which accounts (taken together) shall be
recorded (i) the date and amount of each Borrowing made hereunder, the Type of Advances comprising
such Borrowing and, if appropriate, the Interest Period applicable thereto, (ii) the terms of each
Assumption Agreement and each Assignment and Assumption delivered to and accepted by it, (iii) the
amount of any principal or interest due and payable or to become due and payable from each Borrower
to each Lender hereunder and (iv) the amount of any sum received by the Agent from such Borrower
hereunder and each Lender’s share thereof.

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          (c) Entries made in good faith by the Agent in the Register pursuant to subsection (b) above,
and by each Lender in its account or accounts pursuant to subsection (a) above, shall be
prima facie evidence of the amount of principal and interest due and payable or to
become due and payable from each Borrower to, in the case of the Register, each Lender and, in the
case of such account or accounts, such Lender, under this Agreement, absent manifest error;
provided, however, that the failure of the Agent or such Lender to make an entry,
or any finding that an entry is incorrect, in the Register or such account or accounts shall not
limit or otherwise affect the obligations of any Borrower under this Agreement.

          SECTION 2.17. Use of Proceeds. The proceeds of the Advances shall be available (and
each Borrower agrees that it shall use such proceeds) solely for general corporate purposes of such
Borrower and its Subsidiaries; provided that any Advances drawn by IFF Spain shall not be
used to finance or refinance the purchase price or any costs relating to the acquisition of the
shares of IFF Spain or shares of any company of the group of IFF Spain.

          SECTION 2.18. Increase in the Aggregate Revolving Credit Commitments. (a) The
Company may, at any time but in any event not more than once in any calendar year prior to the
Termination Date, by notice to the Agent, request that the aggregate amount of the Revolving Credit
Commitment under any Facility be increased by an amount of $10,000,000 or an integral multiple of
$1,000,000 in excess thereof (each a “Commitment Increase”) to be effective as of a date
that is at least 90 days prior to the scheduled Termination Date then in effect (the “Increase
Date”) as specified in the related notice to the Agent; provided, however that
(i) in no event shall the aggregate amount of the Revolving Credit Commitments at any time exceed
$1,250,000,000 and (ii) on the date of any request by the Company for a Commitment Increase and on
the related Increase Date the applicable conditions set forth in Section 3.03 shall be satisfied.

          (b) The Agent shall promptly notify the Appropriate Lenders of a request by the Company for a
Commitment Increase, which notice shall include (i) the proposed amount of such requested
Commitment Increase, (ii) the proposed Increase Date and (iii) the date by which Lenders wishing to
participate in the Commitment Increase must commit to an increase in the amount of their respective
Revolving Credit Commitments (the “Commitment Date”). Each Lender that is willing to
participate in such requested Commitment Increase (each an “Increasing Lender”) shall, in
its sole discretion, give written notice to the Agent on or prior to the Commitment Date of the
amount by which it is willing to increase its Revolving Credit Commitment. If the Appropriate
Lenders notify the Agent that they are willing to increase the amount of their respective Revolving
Credit Commitments under the applicable Facility by an aggregate amount that exceeds the amount of
the requested Commitment Increase, the requested Commitment Increase shall be allocated among the
Appropriate Lenders willing to participate therein in such amounts as are agreed between the
Company and the Agent.

          (c) Promptly following each Commitment Date, the Agent shall notify the Company as to the
amount, if any, by which the Appropriate Lenders are willing to participate in the requested
Commitment Increase. If the aggregate amount by which the Appropriate Lenders are willing to
participate in any requested Commitment Increase on any such Commitment Date is less than the
requested Commitment Increase, then the Company may extend offers to one or more Eligible Assignees
to participate in any portion of the requested Commitment Increase that has not been committed to
by the Appropriate Lenders as of the applicable Commitment Date; provided, however,
that the Commitment of each such Eligible Assignee shall be in an amount of $10,000,000 or more.

          (d) On each Increase Date, each Eligible Assignee that accepts an offer to participate in a
requested Commitment Increase in accordance with Section 2.18(b) (each such Eligible Assignee, an
“Assuming Lender”) shall become a Lender party to this Agreement as of such Increase Date
and the

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Revolving Credit Commitment of each Increasing Lender for such requested Commitment Increase
shall be so increased by such amount (or by the amount allocated to such Lender pursuant to the
last sentence of Section 2.18(b)) as of such Increase Date; provided, however, that
the Agent shall have received on or before such Increase Date the following, each dated such date:

     (i) (A) certified copies of resolutions of the Board of Directors of the Company or the
Executive Committee of such Board approving the Commitment Increase and the corresponding
modifications to this Agreement and (B) an opinion of counsel for the Company (which may be
in-house counsel), in a form reasonably satisfactory to the Agent;

     (ii) an assumption agreement from each Assuming Lender, if any, in form and substance
reasonably satisfactory to the Company and the Agent (each an “Assumption
Agreement”), duly executed by such Eligible Assignee, the Agent and the Company; and

     (iii) confirmation from each Increasing Lender of the increase in the amount of its
Commitment in a writing reasonably satisfactory to the Company and the Agent.

On each Increase Date, upon fulfillment of the conditions set forth in Section 3.03 and in the
immediately preceding sentence of this Section 2.18(d), the Agent shall notify the Appropriate
Lenders (including, without limitation, each Assuming Lender) and the Company, on or before 1:00
P.M. (New York City time), by telecopier, of the occurrence of the Commitment Increase to be
effected on such Increase Date and shall record in the Register the relevant information with
respect to each Increasing Lender and each Assuming Lender on such date. Each Increasing Lender
and each Assuming Lender shall, before 2:00 P.M. (New York City time) on the Increase Date,
purchase at par that portion of outstanding Revolving Credit Advances of the other Appropriate
Lenders or take such other actions as the Agent may determine to be necessary to cause the
Revolving Credit Advances to be funded and held on a pro rata basis by the Appropriate Lenders in
accordance with their Ratable Shares.

          SECTION 2.19. Extension of Commitment Termination Date. (a) Requests for
Extension. The Company may, by notice to the Agent (who shall promptly notify the Lenders) not
earlier than 60 days and not later than 45 days prior to the first and/or second anniversary of the
Effective Date (the “Extension Date”), request that each Lender extend such Lender’s
Termination Date for an additional one year from the Termination Date; provided,
however, that on the date of any request by the Company for an extension of the Termination
Date and on the related Extension Date the applicable conditions set forth in Section 3.03 shall be
satisfied.

          (b) Lender Elections to Extend. Each Lender, acting in its sole and individual
discretion, shall, by written notice to the Agent given not later than 15 days later than the date
of its receipt of such request (the “Notice Date”), advise the Agent whether or not such
Lender agrees to such extension (and each Lender that determines not to so extend its Termination
Date (a “Non-Extending Lender”) shall notify the Agent of such fact promptly after such
determination (but in any event no later than the Notice Date) and any Lender that does not so
advise the Agent on or before the Notice Date shall be deemed to be a Non-Extending Lender. The
election of any Lender to agree to such extension shall not obligate any other Lender to so agree.

          (c) Notification by Agent. The Agent shall notify the Company of each Lender’s
determination under Section 2.19(b) within three Business Days after the Notice Date.

          (d) Additional Commitment Lenders. The Company shall have the right on or before the
Extension Date to replace each Non-Extending Lender with, and add as “Lenders” under this Agreement
in place thereof, one or more Eligible Assignees (each, an “Additional Commitment Lender”)

44

 

with the approval of the Agent and the Issuing Banks and the Swing Line Banks (which approvals
shall not be unreasonably withheld), each of which Additional Commitment Lenders shall have entered
into an Assumption Agreement pursuant to which such Additional Commitment Lender shall, effective
as of the Extension Date, undertake a Commitment (and, if any such Additional Commitment Lender is
already a Lender, its Commitment shall be in addition to such Lender’s Commitment hereunder on such
date).

          (e) Minimum Extension Requirement. If (and only if) the total of the Revolving Credit
Commitments of the Lenders that have agreed so to extend their Termination Date and the additional
Revolving Credit Commitments of the Additional Commitment Lenders shall be more than 50% of the
aggregate amount of the Revolving Credit Commitments in effect immediately prior to the Extension
Date, then, effective as of the Extension Date, the Termination Date of each Extending Lender and
of each Additional Commitment Lender shall be extended to the date falling one year after the
existing Termination Date (except that, if such date is not a Business Day, such Termination Date
as so extended shall be the next preceding Business Day) and each Additional Commitment Lender
shall thereupon become a “Lender” for all purposes of this Agreement.

          SECTION 2.20. Defaulting Lenders. (a) If a Lender becomes, and during the period it
remains, a Defaulting Lender, the following provisions shall apply:

     (i) so long as no Event of Default has occurred and is continuing, such Defaulting
Lenders’ Ratable Share of the L/C Obligations and Swing Line Advances under a Facility will,
subject to the limitation in the first proviso below, automatically be reallocated
(effective on the day such Lender becomes a Defaulting Lender) among the Non-Defaulting
Lenders having a Revolving Credit Commitment under such Facility pro rata in
accordance with their respective Revolving Credit Commitments under such Facility;
provided that (A) the sum of each Non-Defaulting Lender’s aggregate principal amount
of Revolving Credit Advances and allocated share of the L/C Obligations and Swing Line
Advances may not in any event exceed the Revolving Credit Commitment under the applicable
Facility of such Non-Defaulting Lender as in effect at the time of such reallocation and (B)
neither such reallocation nor any payment by a Non-Defaulting Lender pursuant thereto will
constitute a waiver or release of any claim the Company, any other Borrower, the Agent, any
Issuing Bank, any Swing Line Bank or any other Lender may have against such Defaulting
Lender or cause such Defaulting Lender to be a Non-Defaulting Lender;

     (ii) to the extent that any portion (the “unreallocated portion”) of the
Defaulting Lender’s share of the L/C Obligations and Swing Line Advances under a Facility
cannot be so reallocated, whether by reason of the first proviso in clause (i) above or
otherwise, the Borrowers will, not later than three Business Days after written demand by
the Agent (at the direction of an Issuing Bank and/or a Swing Line Bank in respect of such
Facility), (A) Cash Collateralize the obligations of the Borrowers in respect of such L/C
Obligations or Swing Line Advances in an amount at least equal to the aggregate amount of
the unreallocated portion of such L/C Obligations or Swing Line Advances, or (B) make other
arrangements reasonably satisfactory to the Agent, each applicable Issuing Bank and each
applicable Swing Line Bank, as the case may be, in their sole discretion to protect them
against the risk of non-payment by such Defaulting Lender;

     (iii) any amount paid by the Borrowers or otherwise received by the Agent for the
account of a Defaulting Lender under this Agreement (whether on account of principal,
interest, fees, indemnity payments or other amounts) will not be paid or distributed to such
Defaulting Lender, but will instead be retained by the Agent in a segregated non-interest
bearing account until (subject to Section 2.20(c)) the termination of the Revolving Credit
Commitments under the

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applicable Facility and payment in full of all obligations of the Borrowers hereunder
and will be applied by the Agent, to the fullest extent permitted by law, to the making of
payments from time to time in the following order of priority: first to the payment
of any amounts owing by such Defaulting Lender to the Agent under this Agreement,
second to the payment of any amounts owing by such Defaulting Lender to an Issuing
Bank or a Swing Line Bank in respect of such Facility (pro rata as to the
respective amounts owing to each of them) under this Agreement, third to the payment
of post-default interest and then current interest due and payable to the Appropriate
Lenders hereunder other than Defaulting Lenders, ratably among them in accordance with the
amounts of such interest then due and payable to them, fourth to the payment of fees
then due and payable to the Non-Defaulting Lenders hereunder in respect of such Facility,
ratably among them in accordance with the amounts of such fees then due and payable to them,
fifth to pay principal then due and payable to the Non-Defaulting Lenders hereunder
in respect of such Facility ratably in accordance with the amounts thereof then due and
payable to them, sixth to the ratable payment of other amounts then due and payable
to the Non-Defaulting Lenders, and seventh after the termination of the Revolving
Credit Commitments under such Facility and payment in full of all obligations of the
Borrowers hereunder, to pay amounts owing under this Agreement to such Defaulting Lender or
as a court of competent jurisdiction may otherwise direct. Any payments, prepayments or
other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay
amounts owed by a Defaulting Lender or to post cash collateral pursuant to this Section 2.20
shall be deemed paid to and redirected by such Defaulting Lender, and each Lender
irrevocably consents hereto; and

     (iv) so long as such Lender is a Defaulting Lender in respect of the applicable
Facility, the applicable Swing Line Banks shall not be required to fund any Swing Line
Advance and the applicable Issuing Banks shall not be required to issue, amend or increase
any Letter of Credit, unless it is satisfied that the related exposure and the Defaulting
Lender’s then outstanding L/C Obligations will be 100% covered by the Commitments of the
Non-Defaulting Lenders and/or cash collateral will be provided by the Borrowers in
accordance with Section 2.20(a)(ii), and participating interests in any newly made Swing
Line Advance or any newly issued or increased Letter of Credit shall be allocated among
Non-Defaulting Lenders in a manner consistent with Section 2.20(a)(ii) (and such Defaulting
Lender shall not participate therein).

          (b) No Revolving Credit Commitment of any Lender shall be increased or otherwise affected,
and, except as otherwise expressly provided in this Section 2.20, performance by the Company of its
obligations shall not be excused or otherwise modified as a result of the operation of this Section
2.20. The rights and remedies against a Defaulting Lender under this Section 2.20 are in addition
to any other rights and remedies which the Company, any other Borrower, the Agent, any Issuing
Bank, any Swing Line Bank or any Lender may have against such Defaulting Lender.

          (c) If the Company and the Agent agree in writing in their reasonable determination that a
Defaulting Lender should no longer be deemed to be a Defaulting Lender, the Agent will so notify
the parties hereto, whereupon as of the effective date specified in such notice and subject to any
conditions set forth therein (which may include arrangements with respect to any cash collateral),
that Lender will, to the extent applicable, purchase that portion of outstanding Revolving Credit
Advances of the other Lenders in respect of the applicable Facility or take such other actions as
the Agent may determine to be necessary to cause the Revolving Credit Advances under such Facility
and funded and held on a pro rata basis by the Appropriate Lenders in accordance with their Ratable
Shares, whereupon such Lender will cease to be a Defaulting Lender; provided that no
adjustments will be made retroactively with respect to fees accrued or payments made by or on
behalf of the Borrowers while that Lender was a Defaulting Lender; and provided,
further, that except to the extent otherwise expressly agreed by the

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affected parties, no change hereunder from Defaulting Lender to Lender will constitute a
waiver or release of any claim of any party hereunder arising from such Lender’s having been a
Defaulting Lender.

          SECTION
2.21. Mitigation Obligations; Replacement of Lenders.

          (a) Designation of a Different Lending Office. If any Lender requests compensation
under Section 2.11, or requires a Borrower to pay any Indemnified Taxes or additional amounts to
any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.14,
then such Lender shall (at the request of the Company) use reasonable efforts to designate a
different Applicable Lending Office for funding or booking its Advances hereunder or to assign its
rights and obligations hereunder to another of its offices, branches or affiliates, if, in the
reasonable judgment of such Lender, such designation or assignment (i) would eliminate or reduce
amounts payable pursuant to Section 2.11 or 2.14, as the case may be, in the future, and (ii) would
not subject such Lender to any unreimbursed cost or expense and would not otherwise be
disadvantageous to such Lender. The Company hereby agrees to pay all reasonable and documented
costs and expenses incurred by any Lender in connection with any such designation or assignment.

          (b) Replacement of Lenders. If any Lender requests compensation under Section 2.11,
or if a Borrower is required to pay any Indemnified Taxes or additional amounts to any Lender or
any Governmental Authority for the account of any Lender pursuant to Section 2.14 and, in each
case, such Lender has declined or is unable to designate a different Applicable Lending Office in
accordance with Section 2.21(a), or if any Lender is a Defaulting Lender or a Non-Consenting
Lender, then the Company may, at its sole expense and effort, upon notice to such Lender and the
Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject
to the restrictions contained in, and consents required by, Section 9.07), all of its interests,
rights (other than its existing rights to payments pursuant to Section 2.11 or Section 2.14) and
obligations under this Agreement and the related Loan Documents to an Eligible Assignee that shall
assume such obligations (which assignee may be another Lender, if a Lender accepts such
assignment); provided that:

     (i) the Company or the assignee assuming such obligations shall have paid to
the Agent the assignment fee (if any) specified in Section 9.07;

     (ii) such Lender shall have received payment of an amount equal to the
outstanding principal of its Advances, accrued interest thereon, accrued fees and
all other amounts payable to it hereunder and under the other Loan Documents
(including any amounts under Section 9.04(c)) from the assignee (to the extent of
such outstanding principal and accrued interest and fees) or the Borrowers (in the
case of all other amounts);

     (iii) in the case of any such assignment resulting from a claim for
compensation under Section 2.11 or payments required to be made pursuant to Section
2.14, such assignment will result in a reduction in such compensation or payments
thereafter;

     (iv) such assignment does not conflict with applicable law; and

     (v) in the case of any assignment resulting from a Lender becoming a
Non-Consenting Lender, the applicable assignee shall have consented to the
applicable amendment, waiver or consent.

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A Lender shall not be required to make any such assignment or delegation if, prior thereto, as a
result of a waiver by such Lender or otherwise, the circumstances entitling the Borrowers to
require such assignment and delegation cease to apply.

ARTICLE III

CONDITIONS TO EFFECTIVENESS AND LENDING

          SECTION 3.01. Conditions Precedent to Effectiveness of Section 2.01. Section 2.01 of
this Agreement shall become effective on and as of the first date (the “Effective Date”) on
which all of the following conditions precedent have been satisfied:

     (a) The Company shall have notified the Agent as to the proposed Effective Date.

     (b) The Company shall have paid all accrued fees and expenses of the Agent and the
Lenders (including the accrued fees and expenses of counsel to the Agent).

     (c) On the Effective Date, the following statements shall be true and the Agent shall
have received for the account of each Lender a certificate signed by a duly authorized
officer of the Company, dated the Effective Date, stating that:

     (i) The representations and warranties contained in Section 4.01 are correct on
and as of the Effective Date, and

     (ii) No event has occurred and is continuing that constitutes a Default.

     (d) The Agent shall have received on or before the Effective Date the following, each
dated such day, in form and substance reasonably satisfactory to the Agent:

     (i) The Notes to the order of the Lenders to the extent requested by any Lender
pursuant to Section 2.16.

     (ii) Certified copies of the resolutions of the Board of Directors or other
similar governing body of each Loan Party approving this Agreement and the Notes,
and of all documents evidencing other necessary corporate action and governmental
approvals, if any, with respect to this Agreement and the Notes, as applicable.

     (iii) A certificate of the Secretary or an Assistant Secretary or comparable
officer of each Loan Party certifying the names and true signatures of the officers
of such Loan Party authorized to sign this Agreement and the Notes and the other
documents to be delivered hereunder.

     (iv) A favorable opinion of (A) Skadden, Arps, Slate, Meagher & Flom, LLP,
counsel for the Company, (B) Heussen, local counsel for the Dutch Loan Parties, (C),
Baker & McKenzie, local counsel for IFF Lux and (D) Garrigues, local counsel for IFF
Spain, each in a form reasonably satisfactory to the Agent and as to such other
matters as any Lender through the Agent may reasonably request.

     (v) A favorable opinion of Shearman & Sterling LLP, counsel for the Agent, in
form and substance satisfactory to the Agent.

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     (vi) For the case of IFF Spain, a copy of form PE-1, duly stamped by the Bank
of Spain, granting a Financial Transaction Number (NOF) to the borrowings that may
be made by IFF Spain under the Credit Agreement.

     (e) Each of the Lenders shall have received, at least two Business Days in advance of
the Effective Date, all documentation and other information required by Governmental
Authorities under applicable “know-your-customer” and anti-money laundering rules and
regulations, including as required by the Patriot Act.

     (f) The Company shall have provided notice of termination of the commitments of the
lenders and made arrangements satisfactory to the Agent to repay or prepay (substantially
contemporaneously with the drawdown of the initial Advances hereunder) all of the
obligations under, the Multicurrency Revolving Facility Agreement, dated as of November 23,
2005 (and as amended or otherwise modified through the date hereof), among the Company, the
other borrowers parties thereto, the lenders parties thereto and Citibank International plc,
as administrative agent. Each of the Lenders that is a party to such credit facility hereby
waives, by execution of this Agreement, any notice required by said Credit Agreement
relating to the termination of commitments thereunder.

          SECTION 3.02. Initial Advance to Each Designated Subsidiary. The obligation of each
Lender to make an initial Advance to each Designated Subsidiary is subject to the receipt by the
Agent on or before the date of such initial Advance of each of the following, in form and substance
reasonably satisfactory to the Agent:

     (a) The Notes of such Designated Subsidiary to the order of the Lenders to the extent
requested by any Lender pursuant to Section 2.16.

     (b) Certified copies of the resolutions of the Board of Directors or other similar
governing body of such Designated Subsidiary (with a certified English translation if the
original thereof is not in English) approving this Agreement and the Notes to be delivered
by it, and of all documents evidencing other necessary corporate action and governmental
approvals, if any, with respect to this Agreement and the Notes, as applicable.

     (c) A certificate of a proper officer of such Designated Subsidiary certifying the
names and true signatures of the officers of such Designated Subsidiary authorized to sign
its Designation Agreement and the Notes to be delivered by it and the other documents to be
delivered by it hereunder.

     (d) A Designation Agreement duly executed by such Designated Subsidiary and the
Company.

     (e) Favorable opinions of counsel (which may be in-house counsel) to such Designated
Subsidiary in a form reasonably satisfactory to the Agent, and as to such other matters as
any Lender through the Agent may reasonably request.

     (f) All documentation and other information reasonably requested by any Lender to
satisfy the requirements of Governmental Authorities under applicable “know-your-customer”
and anti-money laundering rules and regulations, including as required by the Patriot Act.

          SECTION 3.03. Conditions Precedent to Each Borrowing, Issuance, Commitment
Increase and Commitment Extension. The obligation of each Appropriate Lender and each Swing
Line

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Bank to make an Advance (other than (x) a Swing Line Advance made by a Lender pursuant to
Section 2.02(b) or (y) an Advance made by any Issuing Bank or any Lender pursuant to Section
2.03(c)) on the occasion of each Borrowing, the obligation of each Issuing Bank to issue a Letter
of Credit, each Commitment Increase and each extension of Commitments pursuant to Section 2.19
shall be subject to the conditions precedent that the Effective Date shall have occurred and on the
date of such Borrowing, such issuance or the applicable Increase Date or Extension Date (as the
case may be), the following statements shall be true (and each of the giving of the applicable
Notice of Revolving Credit Borrowing, Notice of Swing Line Borrowing, Notice of Issuance, request
for Commitment Increase or request for Commitment extension and the acceptance by any Borrower of
the proceeds of such Borrowing, such issuance or such Increase Date shall constitute a
representation and warranty by such Borrower that on the date of such Borrowing, such issuance or
such Increase Date or Extension Date such statements are true):

     (i) the representations and warranties contained in Section 4.01 (except, in the case
of Borrowings and issuances, the representations set forth in the last sentence of
subsection (e) thereof and in subsection (f)(i) thereof) are correct on and as of such date
(except for those representations and warranties that specifically relate to a prior date,
which shall have been correct on such prior date), before and after giving effect to such
Borrowing, such issuance, such Commitment Increase or such Commitment extension and to the
application of the proceeds therefrom, as though made on and as of such date, and
additionally, if such Borrowing or issuance shall have been requested by a Designated
Subsidiary, the representations and warranties of such Designated Subsidiary contained in
its Designation Agreement are correct on and as of the date of such Borrowing or such
issuance, before and after giving effect to such Borrowing, such issuance, such Commitment
Increase or such Commitment extension (except for those representations and warranties that
specifically relate to a prior date, which shall have been correct on such prior date) and
to the application of the proceeds therefrom, as though made on and as of such date, and

     (ii) no event has occurred and is continuing, or would result from such Borrowing, such
issuance, such Commitment Increase or such Commitment extension or from the application of
the proceeds therefrom, that constitutes a Default.

          SECTION 3.04. Determinations Under Section 3.01. For purposes of determining
compliance with the conditions specified in Section 3.01 or 3.02, as the case may be, each Lender
shall be deemed to have consented to, approved or accepted or to be satisfied with each document or
other matter required thereunder to be consented to or approved by or acceptable or satisfactory to
the Lenders unless an officer of the Agent responsible for the transactions contemplated by this
Agreement shall have received notice from such Lender prior to the date that the Company, by notice
to the Lenders, designates as the proposed Effective Date or the date of the initial Advance to the
applicable Designated Subsidiary, as the case may be, specifying its objection thereto. The Agent
shall promptly notify the Lenders of the occurrence of the Effective Date and each date of initial
Advance to a Designated Subsidiary, as applicable.

ARTICLE IV

REPRESENTATIONS AND WARRANTIES

          SECTION 4.01. Representations and Warranties of the Company. The Company represents
and warrants as follows:

     (a) Status. Each Loan Party is duly organized or duly incorporated (as the
case may be), validly existing and in good standing under the laws of its jurisdiction of
incorporation or

50

 

organization and in respect of IFF Lux, that it is in compliance with, in particular,
the amended Luxembourg laws dated 10 August 1915 on commercial companies and 31 May 1999 on
the domicile of companies.

     (b) Power and Authority. The execution, delivery and performance by each Loan
Party of the Loan Documents to which it is a party, and the consummation of the transactions
contemplated thereby, are within such Loan Party’s corporate powers, have been duly
authorized by all necessary corporate action, and do not conflict with (i) such Loan Party’s
charter, by-laws or other constitutive documents or (ii) any law or any material contractual
restriction, or to the knowledge of the Company, any other contractual restriction, binding
on or affecting such Loan Party.

     (c) Validity and Admissibility in Evidence. All Authorizations required (i)
for the due execution, delivery and performance by each Loan Party of the Loan Documents to
which it is a party or (ii) (except for the requirement of registration of the Loan
Documents and/or any other documents referred to therein as may be required by a Luxembourg
court or an official Luxembourg authority, as the case may be, in the case of their
production in court proceedings before a Luxembourg court or their submittal (either
directly or by way of reference) as a legal title before an official Luxembourg authority)
to make the Loan Documents to which it is a party admissible in evidence in its jurisdiction
of incorporation have been obtained or effected and are in full force and effect.

     (d) Binding Obligations. Each Loan Document once delivered will have been duly
executed and delivered by the Loan Party party thereto and each Loan Document once delivered
will be the legal, valid and binding obligation of the Loan Party party thereto enforceable
against it in accordance with its terms except to the extent that such
enforceability may be limited by any applicable bankruptcy, insolvency, reorganization,
moratorium or other similar laws affecting creditors’ rights generally from time to time in
effect and may be subject to the discretion of courts with respect to the granting of
equitable remedies and to the power of courts to stay proceedings for the execution of
judgments.

     (e) Financial Statements. The Consolidated balance sheet of the Company and
its Subsidiaries as at December 31, 2010, and the related Consolidated statements of income
and cash flows of the Company and its Subsidiaries for the financial year then ended,
accompanied by an opinion of the Company’s auditors, and the Consolidated balance sheet of
the Company and its Subsidiaries as at September 30, 2011, and the related Consolidated
statements of income and cash flows of the Company and its Subsidiaries for the nine months
then ended, duly certified by the chief financial officer or treasurer of the Company, all
copies of which have been furnished to each Lender, fairly present in all material respects,
subject, in the case of said balance sheet as at September 30, 2011, and said statements of
income and cash flows for the nine months then ended, to year end audit adjustments, the
Consolidated financial condition of the Company and its Subsidiaries as at such dates and
the Consolidated results of the operations of the Company and its Subsidiaries for the
period ended on such dates, all in accordance with GAAP consistently applied. Since December
31, 2010, there has been no Material Adverse Change except as disclosed in the Company’s
annual report on Form 10-K for the fiscal year ended December 31, 2010 and quarterly reports
on Form 10-Q for the fiscal quarters ended March 31, 2011, June 30, 2011 and September 30,
2011.

     (f) No Proceedings Pending or Threatened. There is no pending or threatened
action, suit, investigation, litigation or proceeding, including, without limitation, any
Environmental Action, affecting the Company or any of its Subsidiaries before any court,

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governmental agency or arbitrator that (i) except as disclosed in the Company’s annual
report on Form 10-K for the fiscal year ended December 31, 2010 and quarterly reports on
Form 10-Q for the fiscal quarters ended March 31, 2011, June 30, 2011 and September 30,
2011, could be reasonably likely to have a Material Adverse Effect or (ii) purports to
affect the legality, validity or enforceability of the Loan Documents or the consummation of
the transactions contemplated thereby.

     (g) Margin Stock Regulations. No Loan Party is engaged in the business of
extending and no Loan Party will extend credit for the purpose of purchasing or carrying
margin stock (within the meaning of the United States Regulation U issued by the Board of
Governors of the United States Federal Reserve System (“Regulation U”)), and no
proceeds of any Advances or Letters of Credit will be used directly or indirectly to
purchase or carry any margin stock or to extend credit to others for the purpose of
purchasing or carrying any margin stock in violation of Regulation U.

     (h) Investment Company. No Loan Party is an “investment company”, or a company
“controlled” by an “investment company”, within the meaning of the Investment Company Act of
1940, as amended or otherwise subject to regulation thereunder.

     (i) No Misleading Information.

     (i) Any factual information taken as a whole and other than projected financial
information and information of a general economic or industry nature provided by any
of the Loan Parties or any of their Subsidiaries for the purposes of the Information
Memorandum was true and accurate in all material respects as at the date it was
provided or as at the date (if any) at which it is stated.

     (ii) Nothing has occurred or been omitted from the Information Memorandum and
no information has been given or withheld that results in the information contained
in the Information Memorandum being untrue or misleading in any material respect.

     (iii) All written information taken as a whole and other than projected
financial information and information of a general economic or industry nature
(other than the Information Memorandum taken as a whole and other than projected
financial information and information of a general economic or industry nature)
supplied by any of the Loan Parties or any of the Company’s Subsidiaries to the
Agent or any Lender is true, complete and accurate in all material respects as at
the date it was given and is not misleading in any material respect.

     (j) Dutch Banking Act. Each Dutch Loan Party is in compliance with the Dutch
Financial Supervision Act (Wet op het financieel toezicht) and any regulations issued
pursuant thereto (including, but not limited to, the Policy Guidelines and Exemption
Regulation).

     (k) Tax Status. No notice under Section 36 of the Tax Collection Act
(Invorderingswet 1990) has been given by any Subsidiaries of the Company incorporated in the
Netherlands.

     (l) OFAC; Anti-Terrorism Laws. No Loan Party (i) is a person whose property or
interest in property is blocked or subject to blocking pursuant to Section 1 of Executive
Order 13224 of September 23, 2001 Blocking Property and Prohibiting Transactions With
Persons Who

52

 

Commit, Threaten to Commit, or Support Terrorism (66 Fed. Reg. 49079 (2001)), (ii)
engages in any dealings or transactions prohibited by Section 2 of such executive order, or
is otherwise associated with any such person in any manner violative of such Section 2, or
(iii) is a person on the list of Specially Designated Nationals and Blocked Persons or
subject to the limitations or prohibitions under any other U.S. Department of Treasury’s
Office of Foreign Assets Control regulation or executive order. Each Loan Party is in
compliance, in all material respects, with (x) the Trading with the Enemy Act, as amended,
and each of the foreign assets control regulations of the United States Treasury Department
(31 CFR, Subtitle B, Chapter V, as amended) and any other enabling legislation or executive
order relating thereto, and (y) the Patriot Act. No part of the proceeds of the Advances
will be used, directly or indirectly, for any payments to any governmental official or
employee, political party, official of a political party, candidate for political office, or
anyone else acting in an official capacity, in order to obtain, retain or direct business or
obtain any improper advantage, in violation of the United States Foreign Corrupt Practices
Act of 1977, as amended.

ARTICLE V

COVENANTS OF THE COMPANY

          SECTION 5.01. Affirmative Covenants. So long as any Advance shall remain unpaid, any
Letter of Credit is outstanding or any Lender shall have any Commitment hereunder:

     (a) Authorization. Each Loan Party shall promptly (i) obtain, comply with and
do all that is necessary to maintain in full force and effect; and (ii) supply certified
copies to the Agent of, any Authorization required under any law or regulation of its
jurisdiction of incorporation to enable it to perform all of its payment and other material
obligations under any Loan Document to which it is a party and to ensure the legality,
validity, enforceability or admissibility in evidence in its jurisdiction of incorporation
of any Loan Document.

     (b) Compliance with Laws. Each Loan Party shall comply, and cause each of its
Subsidiaries to comply with all applicable laws, rules, regulations and orders, such
compliance to include, without limitation, compliance with ERISA and Environmental Laws,
except where (i) non-compliance would not, in the aggregate, have a Material Adverse Effect
or (ii) the necessity of compliance therewith is contested in good faith by appropriate
proceedings.

     (c) Taxes. Each Loan Party shall pay and discharge, and cause each of its
Subsidiaries to pay and discharge, before the same shall become overdue, (i) all material
Taxes, assessments and governmental charges or levies imposed upon it or upon its assets and
(ii) all lawful claims that, if unpaid, might by law become a Lien upon its assets;
provided, however, that no Loan Party nor any of its Subsidiaries shall be
required to pay or discharge any such tax, assessment, charge or claim that is being
contested in good faith and by proper proceedings and as to which appropriate reserves are
being maintained.

     (d) Maintenance of Insurance. Each Loan Party shall maintain, and cause each
of its Subsidiaries to maintain, insurance with responsible and reputable insurance
companies or associations in such amounts and covering such risks as is usually carried by
companies engaged in similar businesses and owning similar properties in the same general
areas in which the Loan Parties or such Subsidiary operates; provided,
however, that each of the Loan Parties and its Subsidiaries may self-insure to the same
extent as other companies engaged in similar businesses and owning similar properties in the
same general areas in which the Loan Parties or such Subsidiary operates and to the extent
consistent with prudent business practice.

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     (e) Preservation of Corporate Existence, Etc. Each Loan Party shall preserve
and maintain, and cause each of its Subsidiaries to preserve and maintain, its corporate
existence, rights (charter and statutory) and franchises, provided, however,
that each of the Loan Parties and its Subsidiaries may consummate any merger or
consolidation permitted under Section 5.02(b) and provided further that
neither the Loan Parties nor any of their Subsidiaries shall be required to preserve any
right or franchise if the preservation thereof is no longer desirable in the conduct of the
business of the relevant Loan Party or its Subsidiaries, and that the loss thereof is not
disadvantageous in any material respect to the relevant Loan Party or its Subsidiaries or
the Lenders.

     (f) Keeping of Books. Each Loan Party shall keep, and cause each of its
Subsidiaries to keep, proper books of record and account, in which full and correct entries
shall be made of all financial transactions and the assets and business of the Loan Parties
and each such Subsidiary in accordance with, and to the extent required by, generally
accepted accounting principles in effect from time to time.

     (g) Maintenance of Properties, Etc. Each Loan Party shall maintain and
preserve, and cause each of its Subsidiaries to maintain and preserve, all of its properties
that are used or useful in the conduct of its business in good working order and condition,
ordinary wear and tear excepted.

     (h) Reporting Requirements. The Company shall furnish to the Agent (which
shall make available to the Lenders):

     (i) as soon as available and in any event within 45 days after the end of each
of the first three quarters of each fiscal year of the Company, the Consolidated
balance sheet of the Company and its Subsidiaries as of the end of such quarter and
Consolidated statements of income and cash flows of the Company and its Subsidiaries
for the period commencing at the end of the previous fiscal year and ending with the
end of such quarter, duly certified (subject to year-end audit adjustments and the
absence of footnotes) by a financial officer of the Company as having been prepared
in accordance with generally accepted accounting principles in effect at such date
and a certificate of a financial officer of the Company as to compliance with the
terms of this Agreement and setting forth in reasonable detail the calculations
necessary to demonstrate compliance with Section 5.03, provided that in the
event of any change in generally accepted accounting principles used in the
preparation of such financial statements, the Company shall also provide, if
necessary for the determination of compliance with Section 5.03, a statement of
reconciliation conforming such financial statements to GAAP;

     (ii) as soon as available and in any event within 90 days after the end of each
fiscal year of the Company, a copy of the annual audit report for such year for the
Company and its Subsidiaries, containing the Consolidated balance sheet of the
Company and its Subsidiaries as of the end of such fiscal year and Consolidated
statements of income and cash flows of the Company and its Subsidiaries for such
fiscal year, in each case accompanied by an opinion by PricewaterhouseCoopers LLP or
other independent public accountants of comparable size and of international
reputation (which opinion shall be unqualified as to going concern and scope of
audit) and a certificate of a financial officer of the Company as to compliance with
the terms of this Agreement and setting forth in reasonable detail the calculations
necessary to demonstrate compliance with Section 5.03, provided that in the
event of any change in generally accepted accounting principles used in the
preparation of such financial statements, the Company shall also

54

 

provide, if necessary for the determination of compliance with Section 5.03, a
statement of reconciliation conforming such financial statements to GAAP;

     (iii) as soon as possible and in any event within five days after the
occurrence of each Default continuing on the date of such statement, a statement of
an officer of the Company setting forth details of such Default and the action that
the Company has taken or proposes to take with respect thereto;

     (iv) promptly after the sending or filing thereof, copies of all material
reports that the Company sends to any of its securityholders, and copies of all
material reports and registration statements that the Company or any Subsidiary
files with the Securities and Exchange Commission or any national securities
exchange;

     (v) promptly after the commencement thereof, notice of all material actions and
proceedings before any court, governmental agency or arbitrator affecting the
Company or any of its Subsidiaries of the type described in Section 4.01(f); and

     (vi) such other information respecting the Company or any of its Subsidiaries
as any Lender through the Agent may from time to time reasonably request.

Reports and financial statements required to be delivered by the Loan Parties pursuant to
paragraphs (i), (ii) and (iv) of this Section 5.01(h) shall be deemed to have been delivered
on the date on which the Company posts such reports, or reports containing such financial
statements, on its website on the Internet at www.iff.com or is made publicly available on
the United States Securities and Exchange Commission’s EDGAR database provided that
the Loan Parties notify the Agent that such reports have been posted and that such web site
is accessible by the Agent and the Lenders; and provided further that paper
copies of the reports and financial statements referred to in Sections 5.01(h)(i), (ii) and
(iv) shall be delivered by the Loan Parties to the Agent or any Lender who requests it to
deliver such paper copies until written notice to cease delivering paper copies is given by
the Agent or such Lender; and provided further that in every instance the
Loan Parties shall provide paper copies of the certificates or opinions required by Sections
5.01(h)(i) and (ii) to the Agent and each of the Lenders until such time as the Agent shall
provide any of them written notice otherwise.

     (i) Visitation Rights. Each Loan Party shall, at any reasonable time and from
time to time, permit the Agent or any of the Lenders or any agents or representatives
thereof, to examine and make copies of and abstracts from the records and books of account
of, and visit the properties of, such Loan Party and any of its Subsidiaries, and to discuss
the affairs, finances and accounts of such Loan Party and any of its Subsidiaries with any
of their officers or directors and with their independent certified public accountants.
Unless an Event of Default has occurred and is continuing, the Agent and the Lenders shall
be limited to one visit in any year, to be coordinated through the Agent.

          SECTION 5.02. Negative Covenants. So long as any Advance shall remain unpaid, any
Letter of Credit is outstanding or any Lender shall have any Commitment hereunder:

     (a) Liens, Etc. No Loan Party shall create or suffer to exist, or permit any
of its Subsidiaries to create or suffer to exist, any Lien on or with respect to any of its
properties, whether now owned or hereafter acquired, or assign, or permit any of its
Subsidiaries to assign, any right to receive income, other than:

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     (i) Permitted Liens;

     (ii) purchase money Liens upon or in any real property or equipment acquired or
held by the Company or any Subsidiary in the ordinary course of business to secure
the purchase price of such real property or equipment or to secure Debt incurred
solely for the purpose of financing the acquisition of such real property or
equipment, or Liens existing on such real property or equipment at the time of its
acquisition (other than any such Liens created in contemplation of such acquisition
that were not incurred to finance the acquisition of such real property) or
extensions, renewals or replacements of any of the foregoing for the same or a
lesser amount, provided, however, that no such Lien shall extend to
or cover any assets of any character other than the real property or equipment being
acquired, and no such extension, renewal or replacement shall extend to or cover any
assets not theretofore subject to the Lien being extended, renewed or replaced,
provided further that the aggregate principal amount of the
indebtedness secured by the Lien referred to in this paragraph (ii) shall not exceed
$75,000,000 (or its equivalent in another currency or currencies) at any time
outstanding;

     (iii) Liens on assets of a Person existing at the time such Person is merged
into or consolidated with the Company or any Subsidiary of the Company or becomes a
Subsidiary of the Company; provided that such Liens were not created
in contemplation of such merger, consolidation or acquisition and do not extend to
any assets other than those of the Person so merged into or consolidated with the
Company or such Subsidiary or acquired by the Company or such Subsidiary;

     (iv) other Liens securing Debt in an aggregate principal amount not to exceed
$175,000,000 (or its equivalent in another currency or currencies) at any time
outstanding;

     (v) the replacement, extension or renewal of any Lien permitted by paragraph
(iii) above, provided that such replacement, extension or renewal
shall not extend to or cover any assets not subject to the Lien being replaced,
extended or renewed and provided further that the grantor of the
Lien as obligor of the relevant Debt shall not change and the amount of the Debt
secured thereby shall not increase as a result of such replacement, extension or
renewal;

     (vi) any Liens or pledges for the benefit of the Company or any of its
Subsidiaries arising by reason of deposits to qualify the Company or any of its
Subsidiaries to maintain self-insurance;

     (vii) any Lien with respect to judgments and attachments that do not result in
an Event of Default; and

     (viii) Liens existing on the date of this Agreement granted by the Company or
any of its Subsidiaries and securing Debt or other obligations outstanding on the
date of this Agreement, as set forth on Schedule 5.02(a).

     (b) Mergers, Etc. No Loan Party shall merge or consolidate with or into, or
convey, transfer, lease or otherwise dispose of (whether in one transaction or in a series
of transactions) all or substantially all of the assets (whether now owned or hereafter
acquired) of the Company and its Subsidiaries, taken as a whole, to any person, or permit
any of its Subsidiaries to do so, except that:

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     (i) any Subsidiary of the Company may merge or consolidate with or into, or
dispose of assets to, any other Subsidiary of the Company;

     (ii) any Subsidiary of the Company may merge into or dispose of assets to the
Company;

     (iii) the liquidation or reorganization of any Subsidiary of the Company which
is not a Loan Party is permitted so long as any payments or assets distributed as a
result of such liquidation or reorganization are distributed to the Company or its
Subsidiaries;

     (iv) each of the Loan Parties may merge with any other Person organized under
the laws of the same country of organization as such Loan Party so long as the
surviving corporation has the obligations expressed to be assumed by the relevant
Loan Party hereunder and legal opinions in form and content reasonably satisfactory
to the Agent have been delivered to it, provided that the Company shall
provide not less than five Business Days notice of any such merger, and if such
merger obligates the Agent or any Lender to comply with “know your customer” or
similar identification procedures in circumstances where the necessary information
is not already available to it, the Company shall, promptly upon the request of the
Agent or any Lender, supply such documentation and other evidence as is reasonably
requested by the Agent or any Lender in order for the Agent or such Lender to carry
out and be satisfied it has complied with the results of all necessary “know your
customer” or other similar checks under all applicable laws and regulations; and

     (v) a Loan Party may dispose of an asset to a Person which is not the Company
or any of its Subsidiaries on terms that such asset is to be reacquired by a member
of the Company or any of its Subsidiaries (a “Reacquisition Sale and Leaseback
Transaction”) provided that the principal obligations of Company or such
Subsidiary, when aggregated with the principal obligations of Company or any of its
Subsidiaries in respect of all other Reacquisition Sale and Leaseback Transactions
entered into after the date hereof, do not exceed US$75,000,000 (or its equivalent
in another currency or currencies),

     provided, in each case, that no Event of Default shall have occurred and be
continuing at the time of such proposed transaction or would result therefrom.

     (c) Accounting Changes. No Loan Party shall make or permit, or permit any of
its Subsidiaries to make or permit, any change in accounting policies or reporting
practices, except as required or permitted by GAAP.

     (d) Change in Nature of Business. No Loan Party shall make, or permit any of
its Subsidiaries to make, any material change in the nature of the business of the Company
and its Subsidiaries, taken as a whole, as carried on at the date hereof.

     (e) Subsidiary Debt. No Loan Party shall permit any of its Subsidiaries to
create or suffer to exist, any Debt other than:

     (i) Debt owed to the Company or to a wholly-owned Subsidiary of the Company;

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     (ii) Debt (not falling within paragraphs (i), (iii), (v) and (vi) of this
Section 5.02(e) but including Debt falling within paragraph (iv) of this Section
5.02(e)) aggregating for all of the Company’s Subsidiaries not more than
$800,000,000 (or its equivalent in another currency or currencies) at any one time
outstanding;

     (iii) endorsement of negotiable instruments for deposit or collection or
similar transactions in the ordinary course of business;

     (iv) Debt owed pursuant to the Loan Documents;

     (v) Debt which is effectively subordinated to the payment obligations of the
Loan Parties to the Lenders hereunder to the reasonable satisfaction of the Agent;

     (vi) Debt under any Hedge Agreements entered into with any Lender or any
Affiliate of any Lender for the purpose of hedging risks associated with the Company
and its Subsidiaries’ operations (including, without limitation, interest rate and
foreign exchange and commodities price risks) in the ordinary course of business
consistent with past practice and not for speculative purposes; and

     (vii) Debt arising as a result of a Subsidiary of the Company entering into a
Reacquisition Sale and Leaseback Transaction provided that the principal
obligations of such Subsidiary, when aggregated with the principal obligations of
the Company and all other Subsidiaries of the Company in respect of all other
Reacquisition Sale and Leaseback Transactions entered into after the date hereof, do
not exceed US$75,000,000 (or its equivalent in another currency or currencies).

          SECTION 5.03. Financial Covenant. So long as any Advance shall remain unpaid, any
Letter of Credit is outstanding or any Lender shall have any Commitment hereunder, the Company
shall maintain a ratio of Net Debt as of the end of any Relevant Period to Consolidated EBITDA in
respect of such Relevant Period of not more than 3.25 to 1.0.

ARTICLE VI

EVENTS OF DEFAULT

          SECTION 6.01. Events of Default. If any of the following events (“Events of
Default”) shall occur and be continuing:

     (a) Non-payment. The Company or any other Borrower shall fail to pay any
principal of any Advance when the same becomes due and payable; or the Company or any other
Borrower shall fail to pay any interest on any Advance or make any other payment of fees or
other amounts payable under this Agreement or any Note within three Business Days after the
same becomes due and payable; or

     (b) Misrepresentation. Any representation or warranty made by any Borrower
herein or by any Borrower (or any of its officers) in connection with any Loan Document or
by any Designated Subsidiary in the Designation Agreement pursuant to which such Designated
Subsidiary became a Borrower hereunder shall prove to have been incorrect in any material
respect when made; or

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     (c) Other Obligations. (i) The Company shall fail to perform or observe any
term, covenant or agreement contained in Section 5.01(e), 5.01(h)(iii), 5.02 or 5.03, or
(ii) the Company shall fail to perform or observe any other term, covenant or agreement
contained in this Agreement on its part to be performed or observed if such failure shall
remain unremedied for 30 days after written notice thereof shall have been given to the
Company by the Agent or any Lender; or

     (d) Cross Default. (i) The Company or any of its Subsidiaries shall fail to
pay any principal of or premium or interest on any Debt that is outstanding in a principal
or notional amount of at least $75,000,000 in the aggregate (but excluding Debt outstanding
hereunder or with respect to Hedge Agreements) of the Company or such Subsidiary (as the
case may be), when the same becomes due and payable (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
Debt; or any other event shall occur or condition shall exist under any agreement or
instrument relating to any such Debt and shall continue after the applicable grace period,
if any, specified in such agreement or instrument, if the effect of such event or condition
is to accelerate, or to permit the acceleration of, the maturity of such Debt; or any such
Debt shall be declared to be due and payable, or required to be prepaid or redeemed (other
than by a regularly scheduled required prepayment or redemption), purchased or defeased, or
an offer to prepay, redeem, purchase or defease such Debt shall be required to be made, in
each case prior to the stated maturity thereof, or (ii) the occurrence under any Hedge
Agreement of an Early Termination Date (as defined in such Hedge Agreement) resulting from
(A) any event of default under such Hedge Agreement as to which the Company or any of its
Subsidiaries is the Defaulting Party (as defined in such Hedge Agreement) or (B) any
Termination Event (as defined in such Hedge Agreement) as to which the Company or any of its
Subsidiaries is an Affected Party (as defined in such Hedge Agreement) and, in either event,
the termination value with respect to any such Hedge Agreement owed by the Company or any of
its Subsidiaries as a result thereof is greater than $10,000,000 and such Person fails to
pay such termination value when due after applicable grace periods; or

     (e) Insolvency. The Company or any of its Subsidiaries shall (i) generally not
pay its debts as such debts become due (which in the case of a Luxembourg entity, and
without prejudice to the provisions set out in this paragraph, means that such Luxembourg
entity is or is deemed to be in a state of cessation of payments (cessation de payments) and
has lost its commercial creditworthiness (ebranlement de credit)), (ii) admit in writing its
inability to pay its debts generally, (iii) make a general assignment for the benefit of
creditors; or (iv) any proceeding shall be instituted by or against the Company or any of
its Subsidiaries seeking to adjudicate it a bankrupt or insolvent, or seeking liquidation,
winding up, reorganization, arrangement, adjustment, protection, relief, or composition of
it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief
of debtors (such as, in particular, under Luxembourg law, a “faillite”, “gestion contrôlée”,
“concordat préventif de la faillite” or a “liquidation judiciaire”), or seeking the entry of
an order for relief or the appointment of a receiver, trustee, custodian or other similar
official for it or for any substantial part of its property and, in the case of any such
proceeding instituted against it (but not instituted by it), either such proceeding shall
remain undismissed or unstayed for a period of 60 days, or any of the actions sought in such
proceeding (including, without limitation, the entry of an order for relief against, or the
appointment of a receiver, trustee, custodian or other similar official for, it or for any
substantial part of its property) shall occur; or the Company or any of its Subsidiaries
shall take any corporate action to authorize any of the actions set forth above in this
subsection (e); provided, however, that no Event of Default will occur under
this subsection (e) if the events or circumstances referred to in paragraphs (i) through
(iv) above apply only to a Subsidiary or

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Subsidiaries of the Company which is or are not Borrowers unless: (x) the aggregate
amount of the consolidated assets of each Subsidiary of the Company which is the subject of
any event or circumstance, when aggregated with the consolidated assets of each other
Subsidiary of the Company which is the subject of any such event or circumstance, is equal
to or greater than 7.5% of the consolidated assets of the Company and its Subsidiaries,
taken as a whole, or (y) the aggregate amount of the consolidated net sales of each
Subsidiary of the Company which is the subject of any such event or circumstance, when
aggregated with the consolidated net sales of each other Subsidiary of the Company which is
the subject of any such event or circumstance, is equal to or greater than 7.5% of the
consolidated net sales of the Company and its Subsidiaries, taken as a whole, and for
purposes of paragraphs (x) and (y) above, the consolidated assets and consolidated net sales
of any Subsidiary of the Company shall be determined by reference to the most recent
financial year of the Company and the most recent set of annual audited accounts of the
relevant Subsidiary of the Company, if any (which, in the case of the consolidated assets
and consolidated net sales of the Company and its Subsidiaries, taken as a whole, shall mean
the financial statements referred to in Section 4.01(e) or the most recent set of financial
statements delivered pursuant to Section 5.01(h), whichever has been most recently delivered
to the Agent hereunder) provided that in the absence of any such accounts in
relation to any Subsidiary of the Company the figures for consolidated assets and
consolidated net sales of such Subsidiary shall be determined by such Subsidiary’s auditors;
or

     (f) Judgments. Judgments or court orders for the payment of money in excess of
$75,000,000 in the aggregate shall be rendered against the Company or any of its
Subsidiaries and either (i) enforcement proceedings shall have been commenced by any
creditor upon such judgment or court order or (ii) there shall be any period of 30
consecutive days during which such judgment or court order shall not have been satisfied,
vacated or stayed by reason of a pending appeal or otherwise; provided,
however, that any such judgment or court order shall not be an Event of Default
under this subsection (f) if and for so long as (i) the amount of such judgment or court
order is covered by a valid and binding policy of insurance between the defendant and the
insurer covering payment thereof and (ii) such insurer, which shall be rated at least “A-”
by A.M. Best Company, has been notified of, and has not disputed the claim made for payment
of, the amount of such judgment or court order; or

     (g) Change of Control or Ownership. (i) Any Person or two or more Persons
acting in concert shall have acquired beneficial ownership (within the meaning of Rule 13d-3
of the Securities and Exchange Commission under the Securities Exchange Act of 1934),
directly or indirectly, of Voting Stock of the Company (or other securities convertible into
such Voting Stock) representing 35% or more of the combined voting power of all Voting Stock
of the Company; or (ii) during any period of up to 24 consecutive months, commencing after
the date of this Agreement, individuals who at the beginning of such 24-month period were
directors of the Company (together with any successors appointed, nominated or elected by
such directors in the ordinary course) shall cease for any reason to constitute a majority
of the board of directors of the Company; or

     (h) ERISA. The Company or any of its ERISA Affiliates shall incur, or shall be
reasonably likely to incur, liability in excess of $75,000,000 in the aggregate as a result
of one or more of the following: (i) the occurrence of any ERISA Event; (ii) the partial or
complete withdrawal of the Company or any of its ERISA Affiliates from a Multiemployer Plan;
or (iii) the reorganization or termination of a Multiemployer Plan; or

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     (i) so long as any Subsidiary of the Company is a Borrower, any provision of Article
VII shall for any reason cease to be valid and binding on or enforceable against the
Company, or the Company shall so state in writing;

then, and in any such event, the Agent (i) shall at the request, or may with the consent, of the
Required Lenders, by written notice to the Borrowers, declare the obligation of each Lender to make
Advances (other than Advances to be made by a Lender pursuant to Section 2.02(b) to fund its
participation in outstanding Swing Line Advances or by an Issuing Bank or a Lender pursuant to
Section 2.03(c) in respect of drawings under outstanding Letters of Credit) and of the Issuing
Banks to issue Letters of Credit to be terminated, whereupon the same shall forthwith terminate,
and (ii) shall at the request, or may with the consent, of the Required Lenders, by written notice
to the Borrowers, declare the Advances, all interest thereon and all other amounts payable under
this Agreement to be forthwith due and payable, whereupon the Advances, all such interest and all
such amounts shall become and be forthwith due and payable, without presentment, demand, protest or
further notice of any kind, all of which are hereby expressly waived by each Borrower;
provided, however, that in the event of an actual or deemed entry of an order for
relief with respect to the Company or any other Borrower under the Federal Bankruptcy Code, (A) the
obligation of each Lender to make Advances (other than Advances to be made by a Lender pursuant to
Section 2.02(b) to fund its participation in outstanding Swing Line Advances or by an Issuing Bank
or a Lender pursuant to Section 2.03(c) in respect of drawings under outstanding Letters of Credit)
and of the Issuing Banks to issue Letters of Credit shall automatically be terminated and (B) the
Advances, all such interest and all such amounts shall automatically become and be due and payable,
without presentment, demand, protest or any notice of any kind, all of which are hereby expressly
waived by each Borrower.

          SECTION 6.02. Actions in Respect of the Letters of Credit upon Default. If any Event
of Default shall have occurred and be continuing, the Agent may with the consent, or shall at the
request, of the Required Lenders, irrespective of whether it is taking any of the actions described
in Section 6.01 or otherwise, make written demand upon the Borrowers to, and forthwith upon such
demand the Borrowers will, (a) pay to the Agent on behalf of the Lenders in same day funds at the
Agent’s office designated in such demand, for deposit in the L/C Cash Deposit Account, an amount
equal to the aggregate Available Amount of all Letters of Credit then outstanding or (b) make such
other arrangements in respect of the outstanding Letters of Credit as shall be acceptable to the
Required Lenders and not more disadvantageous to the Borrowers than clause (a); provided,
however, that in the event of an actual or deemed entry of an order for relief with respect
to any Borrower under the Federal Bankruptcy Code, an amount equal to the aggregate Available
Amount of all outstanding Letters of Credit shall be immediately due and payable to the Agent for
the account of the Lenders without notice to or demand upon the Borrowers, which are expressly
waived by each Borrower, to be held in the L/C Cash Deposit Account. If at any time an Event of
Default is continuing the Agent reasonably determines that any funds held in the L/C Cash Deposit
Account are subject to any right or claim of any Person other than the Agent and the Lenders or
that the total amount of such funds is less than the aggregate Available Amount of all Letters of
Credit, the Borrowers will, forthwith upon written demand by the Agent, pay to the Agent, as
additional funds to be deposited and held in the L/C Cash Deposit Account, an amount equal to the
excess of (a) such aggregate Available Amount over (b) the total amount of funds, if any, then held
in the L/C Cash Deposit Account that the Agent reasonably determines to be free and clear of any
such right and claim. Upon the drawing of any Letter of Credit, to the extent funds are on deposit
in the L/C Cash Deposit Account, such funds shall be applied to reimburse the Issuing Banks to the
extent permitted by applicable law. After all such Letters of Credit shall have expired or been
fully drawn upon and all other obligations of the Borrowers hereunder and under the Notes shall
have been paid in full, the balance, if any, in such L/C Cash Deposit Account shall be promptly
returned to the Borrowers.

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ARTICLE VII

GUARANTY

          SECTION 7.01. Unconditional Guaranty. The Company hereby absolutely, unconditionally
and irrevocably guarantees the punctual payment when due, whether at scheduled maturity or on any
date of a required prepayment or by acceleration, demand or otherwise, of all obligations of each
other Borrower now or hereafter existing under or in respect of this Agreement and the Notes
(including, without limitation, any extensions, modifications, substitutions, amendments or
renewals of any or all of the foregoing obligations), whether direct or indirect, absolute or
contingent, and whether for principal, interest, premiums, fees, indemnities, contract causes of
action, costs, expenses or otherwise (such obligations being the “Guaranteed Obligations”),
and agrees to pay any and all expenses (including, without limitation, reasonable and documented
fees and expenses of counsel) incurred by the Agent or any Lender in enforcing any rights under
this Agreement. Without limiting the generality of the foregoing, the Company’s liability shall
extend to all amounts that constitute part of the Guaranteed Obligations and would be owed by any
Borrower to the Agent or any Lender under or in respect of this Agreement and the Notes but for the
fact that they are unenforceable or not allowable due to the existence of a bankruptcy,
reorganization or similar proceeding involving such Borrower.

          SECTION 7.02. Guaranty Absolute. The Company guarantees that the Guaranteed
Obligations will be paid strictly in accordance with the terms of this Agreement and the Notes,
regardless of any law, regulation or order now or hereafter in effect in any jurisdiction affecting
any of such terms or the rights of the Agent or any Lender with respect thereto. The obligations
of the Company under or in respect of this Guaranty are independent of the Guaranteed Obligations
or any other obligations of any other Borrower under or in respect of this Agreement and the Notes,
and a separate action or actions may be brought and prosecuted against the Company to enforce this
Guaranty, irrespective of whether any action is brought against any Borrower or whether any
Borrower is joined in any such action or actions. The liability of the Company under this Guaranty
shall be irrevocable, absolute and unconditional irrespective of, and the Company hereby
irrevocably waives any defenses it may now have or hereafter acquire in any way relating to, any or
all of the following:

     (a) any lack of validity or enforceability of this Agreement, any Note or any agreement
or instrument relating thereto;

     (b) any change in the time, manner or place of payment of, or in any other term of, all
or any of the Guaranteed Obligations or any other obligations of any Borrower under or in
respect of this Agreement and the Notes, or any other amendment or waiver of or any consent
to departure from this Agreement or any Note, including, without limitation, any increase in
the Guaranteed Obligations resulting from the extension of additional credit to any Borrower
or any of its Subsidiaries or otherwise;

     (c) any taking, exchange, release or non-perfection of any collateral, or any taking,
release or amendment or waiver of, or consent to departure from, any other guaranty, for all
or any of the Guaranteed Obligations;

     (d) any manner of application of any collateral, or proceeds thereof, to all or any of
the Guaranteed Obligations, or any manner of sale or other disposition of any collateral for
all or any of the Guaranteed Obligations or any other obligations of any Borrower under this
Agreement and the Notes or any other assets of any Borrower or any of its Subsidiaries;

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     (e) any change, restructuring or termination of the corporate structure or existence of
any Borrower or any of its Subsidiaries;

     (f) any failure of the Agent or any Lender to disclose to the Company any information
relating to the business, condition (financial or otherwise), operations, performance,
properties or prospects of any Borrower now or hereafter known to the Agent or such Lender
(the Company waiving any duty on the part of the Agent and the Lenders to disclose such
information);

     (g) the failure of any other Person to execute or deliver this Guaranty or any other
guaranty or agreement or the release or reduction of liability of the Company or other
guarantor or surety with respect to the Guaranteed Obligations; or

     (h) any other circumstance (including, without limitation, any statute of limitations)
or any existence of or reliance on any representation by the Agent or any Lender that might
otherwise constitute a defense available to, or a discharge of, any Borrower or any other
guarantor or surety.

This Guaranty shall continue to be effective or be reinstated, as the case may be, if at any time
any payment of any of the Guaranteed Obligations is rescinded or must otherwise be returned by the
Agent or any Lender or any other Person upon the insolvency, bankruptcy or reorganization of any
Borrower or otherwise, all as though such payment had not been made.

          SECTION 7.03. Waivers and Acknowledgments. (a) The Company hereby unconditionally
and irrevocably waives promptness, diligence, notice of acceptance, presentment, demand for
performance, notice of nonperformance, default, acceleration, protest or dishonor and any other
notice with respect to any of the Guaranteed Obligations and this Guaranty and any requirement that
the Agent or any Lender protect, secure, perfect or insure any Lien or any property subject thereto
or exhaust any right or take any action against any Borrower or any other Person or any collateral.

          (b) The Company hereby unconditionally and irrevocably waives any right to revoke this
Guaranty and acknowledges that this Guaranty is continuing in nature and applies to all Guaranteed
Obligations, whether existing now or in the future.

          (c) The Company hereby unconditionally and irrevocably waives (i) any defense arising by
reason of any claim or defense based upon an election of remedies by the Agent or any Lender that
in any manner impairs, reduces, releases or otherwise adversely affects the subrogation,
reimbursement, exoneration, contribution or indemnification rights of the Company or other rights
of the Company to proceed against any Borrower, any other guarantor or any other Person or any
collateral and (ii) any defense based on any right of set-off or counterclaim against or in respect
of the obligations of the Company hereunder.

          (d) The Company hereby unconditionally and irrevocably waives any duty on the part of the
Agent or any Lender to disclose to the Company any matter, fact or thing relating to the business,
condition (financial or otherwise), operations, performance, properties or prospects of any
Borrower or any of its Subsidiaries now or hereafter known by the Agent or such Lender.

          (e) The Company acknowledges that it will receive substantial direct and indirect benefits
from the financing arrangements contemplated by this Agreement and the Notes and that the waivers
set forth in Section 7.02 and this Section 7.03 are knowingly made in contemplation of such
benefits.

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          SECTION 7.04. Subrogation. The Company hereby unconditionally and irrevocably agrees
not to exercise any rights that it may now have or hereafter acquire against any Borrower or any
other insider guarantor that arise from the existence, payment, performance or enforcement of the
Company’s obligations under or in respect of this Guaranty, including, without limitation, any
right of subrogation, reimbursement, exoneration, contribution or indemnification and any right to
participate in any claim or remedy of the Agent or any Lender against any Borrower or any other
insider guarantor or any collateral, whether or not such claim, remedy or right arises in equity or
under contract, statute or common law, including, without limitation, the right to take or receive
from any Borrower or any other insider guarantor, directly or indirectly, in cash or other property
or by set-off or in any other manner, payment or security on account of such claim, remedy or
right, unless and until all of the Guaranteed Obligations and all other amounts payable under this
Guaranty shall have been paid in full in cash, all Letters of Credit shall have expired or been
terminated and the Commitments shall have expired or been terminated. If any amount shall be paid
to the Company in violation of the immediately preceding sentence at any time prior to the latest
of (a) the payment in full in cash of the Guaranteed Obligations and all other amounts payable
under this Guaranty, (b) the Termination Date and (c) the latest date of expiration or termination
of all Letters of Credit, such amount shall be received and held in trust for the benefit of the
Agent and the Lenders, shall be segregated from other property and funds of the Company and shall
forthwith be paid or delivered to the Agent in the same form as so received (with any necessary
endorsement or assignment) to be credited and applied to the Guaranteed Obligations and all other
amounts payable under this Guaranty, whether matured or unmatured, in accordance with the terms of
this Agreement and the Notes, or to be held as collateral for any Guaranteed Obligations or other
amounts payable under this Guaranty thereafter arising. If (i) the Company shall make payment to
the Agent or any Lender of all or any part of the Guaranteed Obligations, (ii) all of the
Guaranteed Obligations and all other amounts payable under this Guaranty shall have been paid in
full in cash, (iii) the Termination Date shall have occurred and (iv) all Letters of Credit shall
have expired or been terminated, the Agent and the Lenders will, at the Company’s request and
expense, execute and deliver to the Company appropriate documents, without recourse and without
representation or warranty, necessary to evidence the transfer by subrogation to the Company of an
interest in the Guaranteed Obligations resulting from such payment made by the Company pursuant to
this Guaranty.

          SECTION 7.05. Subordination. The Company hereby subordinates any and all debts,
liabilities and other obligations owed to the Company by any Borrower (the “Subordinated
Obligations”) to the Guaranteed Obligations to the extent and in the manner hereinafter set
forth in this Section 7.05:

     (a) Prohibited Payments, Etc. Except during the continuance of an Event of
Default (including the commencement and continuation of any proceeding under any Bankruptcy
Law relating to such Borrower), the Company may receive regularly scheduled payments from
such Borrower on account of the Subordinated Obligations. After the occurrence and during
the continuance of any Event of Default (including the commencement and continuation of any
proceeding under any Bankruptcy Law relating to such Borrower), however, unless the Required
Lenders otherwise agree, the Company shall not demand, accept or take any action to collect
any payment on account of the Subordinated Obligations.

     (b) Prior Payment of Guaranteed Obligations. In any proceeding under any
Bankruptcy Law relating to such Borrower, the Company agrees that the Agent and the Lenders
shall be entitled to receive payment in full in cash of all Guaranteed Obligations
(including all interest and expenses accruing after the commencement of a proceeding under
any Bankruptcy Law, whether or not constituting an allowed claim in such proceeding
(“Post Petition Interest”)) before the Company receives payment of any Subordinated
Obligations.

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     (c) Turn-Over. After the occurrence and during the continuance of any Event of
Default (including the commencement and continuation of any proceeding under any Bankruptcy
Law relating to such Borrower), the Company shall, if the Agent so requests, collect,
enforce and receive payments on account of the Subordinated Obligations as trustee for the
Agent and the Lenders and deliver such payments to the Agent on account of the Guaranteed
Obligations (including all Post Petition Interest), together with any necessary endorsements
or other instruments of transfer, but without reducing or affecting in any manner the
liability of the Company under the other provisions of this Guaranty.

     (d) Agent Authorization. After the occurrence and during the continuance of
any Event of Default (including the commencement and continuation of any proceeding under
any Bankruptcy Law relating to such Borrower), the Agent is authorized and empowered (but
without any obligation to so do), in its discretion, (i) in the name of the Company, to
collect and enforce, and to submit claims in respect of, Subordinated Obligations and to
apply any amounts received thereon to the Guaranteed Obligations (including any and all Post
Petition Interest), and (ii) to require the Company (A) to collect and enforce, and to
submit claims in respect of, Subordinated Obligations and (B) to pay any amounts received on
such obligations to the Agent for application to the Guaranteed Obligations (including any
and all Post Petition Interest).

          SECTION 7.06. Continuing Guaranty; Assignments. This Guaranty is a continuing
guaranty and shall (a) remain in full force and effect until the latest of (i) the payment in full
in cash of the Guaranteed Obligations and all other amounts payable under this Guaranty, (ii) the
Termination Date and (iii) the latest date of expiration or termination of all Letters of Credit,
(b) be binding upon the Company, its successors and assigns and (c) inure to the benefit of and be
enforceable by the Agent and the Lenders and their successors, transferees and assigns. Without
limiting the generality of clause (c) of the immediately preceding sentence, the Agent or any
Lender may assign or otherwise transfer all or any portion of its rights and obligations under this
Agreement (including, without limitation, all or any portion of its Commitments, the Advances owing
to it and the Note or Notes held by it) to any other Person, and such other Person shall thereupon
become vested with all the benefits in respect thereof granted to the Agent or such Lender herein
or otherwise, in each case as and to the extent provided in Section 9.07.

ARTICLE VIII

THE AGENT

          SECTION 8.01. Appointment and Authority. Each of the Lenders and the Issuing Banks
hereby irrevocably appoints Citibank to act on its behalf as the Agent hereunder and under the
other Loan Documents and authorizes the Agent to take such actions on its behalf and to exercise
such powers as are delegated to the Agent by the terms hereof or thereof, together with such
actions and powers as are reasonably incidental thereto. The provisions of this Article are solely
for the benefit of the Agent, the Lenders and the Issuing Banks, and neither the Company nor any
other Loan Party shall have rights as a third-party beneficiary of any of such provisions. It is
understood and agreed that the use of the term “agent” herein or in any other Loan Documents (or
any other similar term) with reference to the Agent is not intended to connote any fiduciary or
other implied (or express) obligations arising under agency doctrine of any applicable law.
Instead such term is used as a matter of market custom, and is intended to create or reflect only
an administrative relationship between contracting parties.

          SECTION 8.02. Rights as a Lender. (a) The Person serving as the Agent hereunder
shall have the same rights and powers in its capacity as a Lender as any other Lender and may
exercise the same as though it were not the Agent, and the term “Lender” or “Lenders” shall, unless
otherwise expressly indicated or unless the context otherwise requires, include the Person serving
as the Agent

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hereunder in its individual capacity. Such Person and its Affiliates may accept deposits
from, lend money to, own securities of, act as the financial advisor or in any other advisory
capacity for, and generally engage in any kind of business with, any Borrower or any Subsidiary or
other Affiliate thereof as if such Person were not the Agent hereunder and without any duty to
account therefor to the Lenders.

          SECTION 8.03. Exculpatory Provisions. (a) The Agent shall not have any duties or
obligations except those expressly set forth herein and in the other Loan Documents, and its duties
hereunder shall be administrative in nature. Without limiting the generality of the foregoing, the
Agent:

     (i) shall not be subject to any fiduciary or other implied duties, regardless of
whether a Default has occurred and is continuing;

     (ii) shall not have any duty to take any discretionary action or exercise any
discretionary powers, except discretionary rights and powers expressly contemplated hereby
or by the other Loan Documents that the Agent is required to exercise as directed in writing
by the Required Lenders (or such other number or percentage of the Lenders as shall be
expressly provided for herein or in the other Loan Documents); provided that the
Agent shall not be required to take any action that, in its opinion or the opinion of its
counsel, may expose the Agent to liability or that is contrary to any Loan Document or
applicable law, including for the avoidance of doubt any action that may be in violation of
the automatic stay under any Debtor Relief Law or that may effect a forfeiture, modification
or termination of property of a Defaulting Lender in violation of any Debtor Relief Law; and

     (iii) shall not, except as expressly set forth herein and in the other Loan Documents,
have any duty to disclose, and shall not be liable for the failure to disclose, any
information relating to any Borrower or any of its Affiliates that is communicated to or
obtained by the Person serving as the Agent or any of its Affiliates in any capacity.

          (b) The Agent shall not be liable for any action taken or not taken by it (i) with the consent
or at the request of the Required Lenders (or such other number or percentage of the Lenders as
shall be necessary, or as the Agent shall believe in good faith shall be necessary, under the
circumstances as provided in Sections 9.01 and 6.01), or (ii) in the absence of its own gross
negligence, bad faith or willful misconduct as determined by a court of competent jurisdiction by
final and nonappealable judgment. The Agent shall be deemed not to have knowledge of any Default
unless and until notice describing such Default is given to the Agent in writing by a Borrower, a
Lender or an Issuing Bank.

          (c) The Agent shall not be responsible for or have any duty to ascertain or inquire into (i)
any statement, warranty or representation made in or in connection with this Agreement or any other
Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder
or thereunder or in connection herewith or therewith, (iii) the performance or observance of any of
the covenants, agreements or other terms or conditions set forth herein or therein or the
occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this
Agreement, any other Loan Document or any other agreement, instrument or document, or (v) the
satisfaction of any condition set forth in Article III or elsewhere herein, other than to confirm
receipt of items expressly required to be delivered to the Agent.

          (d) Nothing in this Agreement or any other Loan Document shall require the Agent or any of its
Related Parties to carry out any “know your customer” or other checks in relation to any person on
behalf of any Lender and each Lender confirms to the Agent that it is solely responsible for any
such checks it is required to carry out and that it may not rely on any statement in relation
to such checks made by the Agent or any of its Related Parties.

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          SECTION 8.04. Reliance by Agent. The Agent shall be entitled to rely upon, and shall
not incur any liability for relying upon, any notice, request, certificate, consent, statement,
instrument, document or other writing (including any electronic message, Internet or intranet
website posting or other distribution) believed by it to be genuine and to have been signed, sent
or otherwise authenticated by the proper Person. The Agent also may rely upon any statement made
to it orally or by telephone and believed by it to have been made by the proper Person, and shall
not incur any liability for relying thereon. In determining compliance with any condition
hereunder to the making of a Advance, or the issuance, extension, renewal or increase of a Letter
of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or an Issuing Bank,
the Agent may presume that such condition is satisfactory to such Lender or Issuing Bank unless the
Agent shall have received notice to the contrary from such Lender or Issuing Bank prior to the
making of such Advance or the issuance of such Letter of Credit. The Agent may consult with legal
counsel (who may be counsel for the Company or any other Loan Party), independent accountants and
other experts selected by it, and shall not be liable for any action taken or not taken by it in
accordance with the advice of any such counsel, accountants or experts.

          SECTION 8.05. Delegation of Duties. The Agent may perform any and all of its duties
and exercise its rights and powers hereunder or under any other Loan Document by or through any one
or more sub-agents appointed by the Agent. The Agent and any such sub-agent may perform any and
all of its duties and exercise its rights and powers by or through their respective Related
Parties. The exculpatory provisions of this Article shall apply to any such sub-agent and to the
Related Parties of the Agent and any such sub-agent, and shall apply to their respective activities
in connection with the syndication of the Facilities as well as activities as Agent. The Agent
shall not be responsible for the negligence or misconduct of any sub-agents except to the extent
that a court of competent jurisdiction determines in a final and nonappealable judgment that the
Agent acted with gross negligence, bad faith or willful misconduct in the selection of such
sub-agents.

          SECTION 8.06. Resignation of Agent. (a) The Agent may at any time give notice of its
resignation to the Lenders, the Issuing Banks, the Company and the other Borrowers. Upon receipt
of any such notice of resignation, the Required Lenders shall have the right, in consultation with
and subject, so long as no Event of Default is continuing, to the approval of the Company (such
approval not to be unreasonably withheld or delayed), to appoint a successor, which shall be a bank
with an office in the United States and the United Kingdom, or an Affiliate of any such bank with
an office in the United States and the United Kingdom. If no such successor shall have been so
appointed by the Required Lenders and shall have accepted such appointment within 30 days after the
retiring Agent gives notice of its resignation (or such earlier day as shall be agreed by the
Required Lenders) (the “Resignation Effective Date”), then the retiring Agent may (but
shall not be obligated to), on behalf of the Lenders and the Issuing Banks, appoint a successor
Agent meeting the qualifications set forth above. Whether or not a successor has been appointed,
such resignation shall become effective in accordance with such notice on the Resignation Effective
Date.

          (b) If the Person serving as Agent is a Defaulting Lender pursuant to clause (v) of the
definition thereof, the Required Lenders may, to the extent permitted by applicable law, by notice
in writing to the Borrowers and such Person remove such Person as Agent and, in consultation with
and subject, so long as no Event of Default is continuing, to the approval of the Company (such
approval not to be unreasonable withheld or delayed), appoint a successor. If no such successor
shall have been so appointed by the Required Lenders and shall have accepted such appointment
within 30 days (or such earlier day as shall be agreed by the Required Lenders) (the “Removal
Effective Date”), then such
removal shall nonetheless become effective in accordance with such notice on the Removal
Effective Date.

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          (c) With effect from the Resignation Effective Date or the Removal Effective Date (as
applicable) (1) the retiring or removed Agent shall be discharged from its duties and obligations
hereunder and under the other Loan Documents (except that in the case of any collateral security
held by the Agent on behalf of the Lenders or the Issuing Banks under any of the Loan Documents,
the retiring or removed Agent shall continue to hold such collateral security until such time as a
successor Agent is appointed) and (2) except for any indemnity payments owed to the retiring or
removed Agent, all payments, communications and determinations provided to be made by, to or
through the Agent shall instead be made by or to each Lender and Issuing Bank directly, until such
time, if any, as the Required Lenders appoint a successor Agent as provided for above. Upon the
acceptance of a successor’s appointment as Agent hereunder, such successor shall succeed to and
become vested with all of the rights, powers, privileges and duties of the retiring or removed
Agent (other than any rights to indemnity payments owed to the retiring or removed Agent), and the
retiring or removed Agent shall be discharged from all of its duties and obligations hereunder or
under the other Loan Documents. The fees payable by the Borrowers to a successor Agent shall be
the same as those payable to its predecessor unless otherwise agreed between the Borrowers and such
successor. After the retiring or removed Agent’s resignation or removal hereunder and under the
other Loan Documents, the provisions of this Article and Section 9.04 shall continue in effect for
the benefit of such retiring or removed Agent, its sub-agents and their respective Related Parties
in respect of any actions taken or omitted to be taken by any of them while the retiring or removed
Agent was acting as Agent.

          (d) Any resignation pursuant to this Section by a Person acting as Agent shall, unless such
Person shall notify the Borrowers and the Lenders otherwise, also act to relieve such Person and
its Affiliates of any obligation to advance or issue new, or extend existing, Swing Line Advances
or Letters of Credit where such advance, issuance or extension is to occur on or after the
effective date of such resignation. Upon the acceptance of a successor’s appointment as Agent
hereunder, (i) such successor shall succeed to and become vested with all of the rights, powers,
privileges and duties of the retiring Issuing Bank and Swing Line Bank, (ii) the retiring Issuing
Bank and Swing Line Bank shall be discharged from all of their respective duties and obligations
hereunder or under the other Loan Documents, (iii) the successor Swing Line Bank shall enter into
an Assignment and Assumption and acquire from the retiring Swing Line Bank each outstanding Swing
Line Advance of such retiring Swing Line Bank for a purchase price equal to par plus accrued
interest and (iv) the successor Issuing Bank shall issue letters of credit in substitution for the
Letters of Credit, if any, outstanding at the time of such succession or make other arrangement
satisfactory to the retiring Issuing Bank to effectively assume the obligations of the retiring
Issuing Bank with respect to such Letters of Credit.

          SECTION 8.07. Non-Reliance on Agent and Other Lenders. Each Lender and Issuing Bank
acknowledges that it has, independently and without reliance upon the Agent or any other Lender or
any of their Related Parties and based on such documents and information as it has deemed
appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender
and Issuing Bank also acknowledges that it will, independently and without reliance upon the Agent
or any other Lender or any of their Related Parties and based on such documents and information as
it shall from time to time deem appropriate, continue to make its own decisions in taking or not
taking action under or based upon this Agreement, any other Loan Document or any related agreement
or any document furnished hereunder or thereunder.

          SECTION 8.08. No Other Duties, etc. Anything herein to the contrary notwithstanding,
none of the Bookrunners, Arrangers, syndication agent or documentation agent listed on the cover
page hereof shall have any powers, duties or responsibilities under this Agreement or any of the
other Loan Documents, except in its capacity, as applicable, as the Agent, a Lender or an
Issuing Bank hereunder.

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ARTICLE IX

MISCELLANEOUS

          SECTION 9.01. Amendments, Etc. No amendment or waiver of any provision of this
Agreement or the Notes, nor consent to any departure by any Borrower therefrom, shall in any event
be effective unless the same shall be in writing and signed by the Required Lenders, and then such
waiver or consent shall be effective only in the specific instance and for the specific purpose for
which given; provided, however, that no amendment, waiver or consent shall, unless
in writing and signed by (a) all the Lenders, do any of the following: (i) waive any of the
conditions specified in Section 3.01, (ii) change the definition of “Required Lenders” or the
percentage of the Commitments or of the aggregate unpaid principal amount of the Advances, or the
number of Lenders, that shall be required for the Lenders or any of them to take any action
hereunder, (iii) release the Company from any of its obligations under Article VII, (iv) change
Section 2.15 in a manner that would alter the pro rata sharing of payments required thereby or (v)
amend this Section 9.01; or (b) each Lender directly affected thereby, do any of the following:
(i) increase the Commitments of the Lenders other than in accordance with Section 2.18, (ii) reduce
the principal of, or rate of interest on, the Advances or any fees or other amounts payable
hereunder or (iii) postpone any date fixed for any payment of principal of, or interest on, the
Advances or any fees or other amounts payable hereunder other than in accordance with Section 2.19;
and provided further that (x) no amendment, waiver or consent shall, unless in
writing and signed by the Agent in addition to the Lenders required above to take such action,
affect the rights or duties of the Agent under this Agreement or any Note, (y) no amendment, waiver
or consent shall, unless in writing and signed by each Swing Line Bank, in addition to the Lenders
required above to take such action, affect the rights or obligations of such Swing Line Bank under
this Agreement, and (z) no amendment, waiver or consent shall, unless in writing and signed by each
Issuing Bank in addition to the Lenders required above to take such action, adversely affect the
rights or obligations of such Issuing Bank in its capacity as such under this Agreement.

          SECTION 9.02. Notices, Etc. (a) Notices Generally. Except in the case of
notices and other communications expressly permitted to be given by telephone (and except as
provided in paragraph (b) below), all notices and other communications provided for herein shall be
in writing and shall be delivered by hand or overnight courier service, mailed by certified or
registered mail or sent by facsimile as follows:

     (i) if to the Company or any other Loan Party, to it at 512 W. 57th Street, New York,
New York, 10019, Attention of Treasurer (Facsimile No. (212) 708-7130; Telephone No. (212)
708-7173; E-mail: Robert.Anderson@iff.com);

     (ii) if to the Agent, to Citibank, N.A. at 1615 Brett Road, Building #3, New Castle,
Delaware, 19720, Attention of Bank Loan Syndications (Facsimile No. (212) 994-0961;
Telephone No. (302) 894-6010);

     (iii) if to the Sub-Agent, to Citibank International plc at 5th Floor CGC2, Canary
Wharf, London, E14 5LB, Attention of European Loans Agency Office, Capital Markets and
Banking Operations (Facsimile No. 44 (0) 208636 3824; Telephone No.: 44 (0) 207500 4245);

     (iv) if any Issuing Bank, to it at the address provided in writing to the Agent and the
Company at the time of its appointment as an Issuing Bank hereunder;

     (v) if to a Lender, to it at its address (or facsimile number or e-mail) set forth in
its Administrative Questionnaire.

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Notices sent by hand or overnight courier service, or mailed by certified or registered mail, shall
be deemed to have been given when received; notices sent by facsimile shall be deemed to have been
given when sent (except that, if not given during normal business hours for the recipient, shall be
deemed to have been given at the opening of business on the next Business Day for the recipient).
Notices delivered through electronic communications, to the extent provided in paragraph (b) below,
shall be effective as provided in said paragraph (b).

          (b) Electronic Communications. Notices and other communications to the Lenders and
the Issuing Banks hereunder may be delivered or furnished by electronic communication (including
e-mail and Internet or intranet websites) pursuant to procedures approved by the Agent,
provided that the foregoing shall not apply to notices to any Lender or Issuing Bank
pursuant to Article II if such Lender or Issuing Bank, as applicable, has notified the Agent that
it is incapable of receiving notices under such Article by electronic communication. The Agent or
the Company may, in its discretion, agree to accept notices and other communications to it
hereunder by electronic communications pursuant to procedures approved by it; provided that
approval of such procedures may be limited to particular notices or communications.

          Unless the Agent otherwise prescribes, (i) notices and other communications sent to an e-mail
address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended
recipient (such as by the “return receipt requested” function, as available, return e-mail or other
written acknowledgement), and (ii) notices or communications posted to an Internet or intranet
website shall be deemed received upon the deemed receipt by the intended recipient, at its e-mail
address as described in the foregoing clause (i), of notification that such notice or communication
is available and identifying the website address therefor; provided that, for both clauses
(i) and (ii) above, if such notice, email or other communication is not sent during the normal
business hours of the recipient, such notice or communication shall be deemed to have been sent at
the opening of business on the next Business Day for the recipient.

          (c) Change of Address, etc. Any party hereto may change its address or facsimile
number for notices and other communications hereunder by notice to the other parties hereto.

          (d) Platform.

     (i) Each Loan Party agrees that the Agent may, but shall not be obligated to, make the
Communications (as defined below) available to the Issuing Banks and the other Lenders by
posting the Communications on Debt Domain, Intralinks, Syndtrak or a substantially similar
electronic transmission system (the “Platform”).

     (ii) The Platform is provided “as is” and “as available.” The Agent Parties (as
defined below) do not warrant the adequacy of the Platform and expressly disclaim liability
for errors or omissions in the Communications. No warranty of any kind, express, implied or
statutory, including, without limitation, any warranty of merchantability, fitness for a
particular purpose, non-infringement of third-party rights or freedom from viruses or other
code defects, is made by any Agent Party in connection with the Communications or the
Platform. In no event shall the Agent or any of its Related Parties (collectively, the
“Agent Parties”) have any liability to the Company or the other Loan Parties, any
Lender or any other Person or entity for damages of any kind, including, without limitation,
direct or indirect, special, incidental or consequential damages, losses or expenses
(whether in tort, contract or otherwise) arising out of the Company’s
or the Agent’s transmission of communications through the Platform.
“Communications” means, collectively, any notice, demand, communication,
information, document or other material provided by or on behalf of any Loan Party pursuant
to any Loan Document or the transactions

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contemplated therein which is distributed to the
Agent, any Lender or any Issuing Bank by means of electronic communications pursuant to this
Section, including through the Platform.

          SECTION 9.03. No Waiver; Remedies. No failure on the part of any Lender or the Agent
to exercise, and no delay in exercising, any right hereunder or under any Note shall operate as a
waiver thereof; nor shall any single or partial exercise of any such right preclude any other or
further exercise thereof or the exercise of any other right. The remedies herein provided are
cumulative and not exclusive of any remedies provided by law.

          SECTION 9.04. Costs and Expenses. (a) Costs and Expenses. The Company shall
pay upon demand and presentation of a statement of account (i) all reasonable and documented
out-of-pocket expenses incurred by the Agent and its Affiliates (including the reasonable and
documented fees, charges and disbursements of one New York counsel for the Agent, and one local
counsel to the Agent in each relevant jurisdiction) in connection with the syndication of the
Facilities, the preparation, negotiation, execution, delivery and administration of this Agreement
and the other Loan Documents, or any amendments, modifications or waivers of the provisions hereof
or thereof, (ii) all reasonable and documented out-of-pocket expenses incurred by any Issuing Bank
in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any
demand for payment thereunder, and (iii) all reasonable and documented out-of-pocket expenses
incurred by the Agent, any Lender or any Issuing Bank (including the reasonable and documented
fees, charges and disbursements any counsel for the Agent, any Lender or any Issuing Bank) in
connection with the enforcement or protection of its rights (A) in connection with this Agreement
and the other Loan Documents, including its rights under this Section 9.04(a), or (B) in connection
with the Advances made or Letters of Credit issued hereunder, including all such out-of-pocket
expenses incurred during any workout, restructuring or negotiations in respect of such Advances or
Letters of Credit.

          (b) Indemnification by the Company. The Company shall indemnify the Agent, the
Sub-Agent, each Lender and each Issuing Bank, and each Related Party of any of the foregoing
Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee
harmless from, any and all losses, claims, damages, liabilities and related expenses (including the
reasonable and documented fees, charges and disbursements of any counsel for any Indemnitee but
excluding loss of anticipated profits, business or anticipated savings), incurred by any Indemnitee
or asserted against any Indemnitee by any Person other than such Indemnitee and its Related Parties
arising out of, in connection with, or as a result of (i) the execution or delivery of this
Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby,
the performance by the parties hereto of their respective obligations hereunder or thereunder or
the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of
Credit or the use or proposed use of the proceeds therefrom (including any refusal by any Issuing
Bank to honor a demand for payment under a Letter of Credit if the documents presented in
connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii)
any actual or alleged presence or release of Hazardous Materials on or from any property owned or
operated by the Company or any of its Subsidiaries, or any Environmental Action related in any way
to the Company or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation,
investigation or proceeding relating to any of the foregoing, whether based on contract, tort or
any other theory, whether brought by a third party or by any other Loan Party, and regardless of
whether any Indemnitee is a party thereto; provided that any such indemnity as provided in
this Section 9.04(b) shall not, as to any Indemnitee, be available to the extent that such losses,
claims, damages, liabilities or related expenses are determined by a court of competent
jurisdiction by final and nonappealable judgment to have resulted from the gross negligence, bad
faith or willful misconduct of such Indemnitee. This Section
9.04(b) shall not apply with respect to Taxes other than any Taxes that represent losses,
claims, damages, etc. arising from any non-Tax claim.

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          (c) Breakage Indemnity. If any payment of principal of, or Conversion of, any
Eurocurrency Rate Advance is made by any Borrower to or for the account of a Lender other than on
the last day of the Interest Period for such Advance as a result of a payment or Conversion,
acceleration of the maturity of the Advances pursuant to Section 6.01 or for any other reason, or
by an Eligible Assignee to a Lender other than on the last day of the Interest Period for such
Advance upon an assignment of rights and obligations under this Agreement pursuant to Section 9.07
as a result of a demand by the Company pursuant to Section 2.21(b), or if any Borrower fails to
make any payment or prepayment of an Advance for which a notice of prepayment has been given or
that is otherwise required to be made, the applicable Borrower shall, upon written demand by such
Lender (with a copy of such demand to the Agent), pay to the Agent for the account of such Lender
any amounts required to compensate such Lender for any additional losses, costs or expenses that it
reasonably incurs as a result of such payment or Conversion, including, without limitation, any
loss (excluding loss of profits), cost or expense incurred by reason of the liquidation or
reemployment of deposits or other funds acquired by any Lender to fund or maintain such Advance.

          (d) Reimbursement by Lenders. To the extent that the Company for any reason fails to
indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to
the Agent, the Sub-Agent, any Issuing Bank, any Swing Line Bank or any Related Party of any of the
foregoing, each Lender severally agrees to pay to the Agent, the Sub-Agent, such Issuing Bank, such
Swing Line Bank or such Related Party, as the case may be, such Lender’s pro rata share (determined
as of the time that the applicable unreimbursed expense or indemnity payment is sought based on
each Lender’s share of the Total Credit Exposure at such time) of such unpaid amount (including any
such unpaid amount in respect of a claim asserted by such Lender); provided that with
respect to such unpaid amounts owed to any Issuing Bank or Swing Line Bank solely in its capacity
as such, only the Revolving Lenders shall be required to pay such unpaid amounts, such payment to
be made severally among them based on such Revolving Lenders’ pro rata share of the Tranche A
Revolving Credit Commitment or Tranche B Revolving Credit Commitment, as appropriate (determined as
of the time that the applicable unreimbursed expense or indemnity payment is sought);
provided, further, that the unreimbursed expense or indemnified loss, claim,
damage, liability or related expense, as the case may be, was incurred by or asserted against the
Agent, the Sub-Agent, such Issuing Bank or such Swing Line Bank in its capacity as such, or against
any Related Party of any of the foregoing acting for the Agent, the Sub-Agent, such Issuing Bank or
any such Swing Line Bank in connection with such capacity; provided, further, that
no Lender shall be liable for any portion of such losses, claims, damages, liabilities or related
expenses to the extent they are determined by a court of competent jurisdiction by final and
nonappealable judgment to have resulted from the gross negligence, bad faith or willful misconduct
of the Agent, the Sub-Agent, such Issuing Bank or such Swing Line Bank, as applicable. The
obligations of the Lenders under this paragraph (c) are several, and the failure of any Lender to
perform its obligations under this paragraph (c) shall not affect any other Lender’s obligations
under this paragraph nor shall any Lender be responsible for the failure of any other Lender to
perform its obligations under this paragraph.

          (e) Waiver of Consequential Damages, Etc. To the fullest extent permitted by
applicable law, no party hereto shall assert, and each hereby waives, any claim against any other
party hereto, on any theory of liability, for special, indirect, consequential or punitive damages,
including without limitation, any loss of profits, business or anticipated savings (as opposed to
direct or actual damages) arising out of, in connection with, or as a result of, this Agreement,
any other Loan Document or any agreement or instrument contemplated hereby, the transactions
contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds
thereof. No party hereto shall be liable for any damages arising from the use by unintended
recipients of any information or other materials
distributed by it through telecommunications, electronic or other information transmission
systems in connection with this Agreement or the other Loan Documents or the transactions
contemplated hereby or thereby.

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          (f) Payments. All amounts due under this Section shall be payable promptly after
written demand therefor.

          (g) Survival. Each party’s obligations under Section 2.11, Section 2.14 and this
Section shall survive the termination of the Loan Documents and payment of the obligations
hereunder.

          SECTION 9.05. Right of Set-off. If an Event of Default shall have occurred and be
continuing, each Lender, each Issuing Bank, and each of their respective Affiliates is hereby
authorized at any time and from time to time, to the fullest extent permitted by applicable law and
subject to exceptions of mandatory law in the country of incorporation of each Borrower, to set off
and apply any and all deposits (general or special, time or demand, provisional or final, in
whatever currency) at any time held, and other obligations (in whatever currency) at any time
owing, by such Lender, such Issuing Bank or any such Affiliate, to or for the credit or the account
of the Company or any other Loan Party against any and all of the obligations of the Company or
such Loan Party now or hereafter existing under this Agreement or any other Loan Document to such
Lender or such Issuing Bank or their respective Affiliates, irrespective of whether or not such
Lender, Issuing Bank or Affiliate shall have made any demand under this Agreement or any other Loan
Document and although such obligations of the Company or such Loan Party may be contingent or
unmatured or are owed to a branch, office or Affiliate of such Lender or such Issuing Bank
different from the branch, office or Affiliate holding such deposit or obligated on such
indebtedness; provided that in the event that any Defaulting Lender shall exercise any such
right of setoff, (x) all amounts so set off shall be paid over immediately to the Agent for further
application in accordance with the provisions of Section 2.20 and, pending such payment, shall be
segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit
of the Agent, the Issuing Banks, and the Lenders, and (y) the Defaulting Lender shall provide
promptly to the Agent a statement describing in reasonable detail the Obligations owing to such
Defaulting Lender as to which it exercised such right of setoff. The rights of each Lender, each
Issuing Bank and their respective Affiliates under this Section are in addition to other rights and
remedies (including other rights of setoff) that such Lender, such Issuing Bank or their respective
Affiliates may have. Each Lender and Issuing Bank agrees to notify the Company and the Agent
promptly after any such setoff and application; provided that the failure to give such
notice shall not affect the validity of such setoff and application.

          SECTION 9.06. Binding Effect. This Agreement shall become effective (other than
Section 2.01, which shall only become effective upon satisfaction of the conditions precedent set
forth in Section 3.01) when it shall have been executed by the Company, each other Borrower and the
Agent and when the Agent shall have received executed counterparts hereof from each Initial Lender
and thereafter shall be binding upon and inure to the benefit of the Company, each other Borrower,
the Agent and each Lender and their respective successors and assigns, except that neither the
Company nor any other Borrower shall have the right to assign its rights hereunder or any interest
herein without the prior written consent of all of the Lenders, except as otherwise permitted by
this Agreement, including without limitation, Section 5.02(b).

          SECTION 9.07. Assignments and Participations. (a) Successors and Assigns
Generally. No Lender may assign or otherwise transfer any of its rights or obligations
hereunder except (i) to an assignee in accordance with the provisions of paragraph (b) of this
Section, (ii) by way of participation in accordance with the provisions of paragraph (d) of this
Section, or (iii) by way of pledge or assignment of a security interest subject to the restrictions
of paragraph (f) of this Section (and any other attempted assignment or transfer by any party
hereto shall be null and void). Nothing in this
Agreement, expressed or implied, shall be construed to confer upon any Person (other than the
parties hereto, their respective successors and assigns permitted hereby, Participants to the
extent provided in paragraph (d) of this Section and, to the extent expressly contemplated hereby,
the Related Parties of each

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of the Agent and the Lenders) any legal or equitable right, remedy or
claim under or by reason of this Agreement.

          (b) Assignments by Lenders. Any Lender may at any time assign to one or more
assignees all or a portion of its rights and obligations under this Agreement (including all or a
portion of its Commitment and the Advances at the time owing to it); provided that (in each
case with respect to any Facility) any such assignment shall be subject to the following
conditions:

          (i) Minimum Amounts.

     (A) in the case of an assignment of the entire remaining amount of the
assigning Lender’s Commitment and/or the Advances at the time owing to it (in each
case with respect to any Facility) or contemporaneous assignments to related
Approved Funds that equal at least the amount specified in paragraph (b)(i)(B) of
this Section in the aggregate or in the case of an assignment to a Lender, an
Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned,
provided, however, if the amount of such assignment is less than
€100,000 (or its equivalent in any other currency) or such greater amount as may be
required pursuant to the Dutch Financial Supervision Act (Wet op het financieel
toezicht) as amended from time to time, the assignee is a “Professional Market
Party” within the meaning of the Dutch Financial Supervision Act; and

     (B) in any case not described in paragraph (b)(i)(A) of this Section, the
aggregate amount of the Commitment (which for this purpose includes Advances
outstanding thereunder) or, if the applicable Commitment is not then in effect, the
principal outstanding balance of the Advances of the assigning Lender subject to
each such assignment (determined as of the date the Assignment and Assumption with
respect to such assignment is delivered to the Agent or, if “Trade Date” is
specified in the Assignment and Assumption, as of the Trade Date) shall not be less
than $10,000,000, in the case of any assignment in respect of any Facility, or an
integral multiple of $1,000,000 in excess thereof, unless each of the Agent and, so
long as no Event of Default has occurred and is continuing, the Company otherwise
consents (each such consent not to be unreasonably withheld or delayed).

     (ii) Proportionate Amounts. Each partial assignment shall be made as an
assignment of a proportionate part of all the assigning Lender’s rights and obligations
under this Agreement with respect to the Advances or the Commitment assigned, except that
this clause (ii) shall not prohibit any Lender from assigning all or a portion of its rights
and obligations among separate Facilities on a non-pro rata basis.

     (iii) Required Consents. No consent shall be required for any assignment
except to the extent required by paragraph (b)(i)(B) of this Section and, in addition:

     (A) the consent of the Company (such consent not to be unreasonably withheld or
delayed) shall be required unless (x) an Event of Default has occurred and is
continuing at the time of such assignment, or (y) such assignment is to a Lender, an
Affiliate of a Lender or an Approved Fund; provided that the Company shall
be deemed
to have consented to any such assignment unless it shall object thereto by
written notice to the Agent within five Business Days after having received notice
thereof;

74

 

     (B) the consent of the Agent (such consent not to be unreasonably withheld or
delayed) shall be required for assignments to a Person that is not a Lender, an
Affiliate of such Lender or an Approved Fund with respect to such Lender; and

     (C) the consent of each applicable Issuing Bank and Swing Line Bank (such
consent not to be unreasonably withheld or delayed) shall be required for any
assignment in respect of the its applicable Facility.

     (iv) Assignment and Assumption. The parties to each assignment shall execute
and deliver to the Agent an Assignment and Assumption, together with a processing and
recordation fee of $3,500; provided that the Agent may, in its sole discretion,
elect to waive such processing and recordation fee in the case of any assignment. The
assignee, if it is not a Lender, shall deliver to the Agent an Administrative Questionnaire.

     (v) No Assignment to Certain Persons. No such assignment shall be made to (A)
any Borrower or any of its Affiliates or Subsidiaries or (B) to any Defaulting Lender or any
of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute
any of the foregoing Persons described in this clause (B).

     (vi) No Assignment to Natural Persons. No such assignment shall be made to a
natural Person.

     (vii) Certain Additional Payments. In connection with any assignment of rights
and obligations of any Defaulting Lender hereunder, no such assignment shall be effective
unless and until, in addition to the other conditions thereto set forth herein, the parties
to the assignment shall make such additional payments to the Agent in an aggregate amount
sufficient, upon distribution thereof as appropriate (which may be outright payment,
purchases by the assignee of participations or subparticipations, or other compensating
actions, including funding, with the consent of the Company and the Agent, the applicable
pro rata share of Advances previously requested but not funded by the Defaulting Lender, to
each of which the applicable assignee and assignor hereby irrevocably consent), to (x) pay
and satisfy in full all payment liabilities then owed by such Defaulting Lender to the
Agent, each Issuing Bank, each Swing Line Bank and each other Lender hereunder (and interest
accrued thereon), and (y) acquire (and fund as appropriate) its full pro rata share of all
Advances and participations in Letters of Credit and Swing Line Advances in accordance with
its Ratable Share. Notwithstanding the foregoing, in the event that any assignment of
rights and obligations of any Defaulting Lender hereunder shall become effective under
applicable law without compliance with the provisions of this paragraph, then the assignee
of such interest shall be deemed to be a Defaulting Lender for all purposes of this
Agreement until such compliance occurs.

Subject to acceptance and recording thereof by the Agent pursuant to paragraph (c) of this Section,
from and after the effective date specified in each Assignment and Assumption, the assignee
thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such
Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and
the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment
and Assumption, be released from its obligations under this Agreement (and, in the case of an
Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this
Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the
benefits of Sections 2.11 and 8.04 with respect to
facts and circumstances occurring prior to the effective date of such assignment; provided,
that except to the extent otherwise expressly agreed by the affected parties, no assignment by a
Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising
from that Lender’s having been

75

 

a Defaulting Lender. Any assignment or transfer by a Lender of
rights or obligations under this Agreement that does not comply with this paragraph shall be
treated for purposes of this Agreement as a sale by such Lender of a participation in such rights
and obligations in accordance with paragraph (d) of this Section.

          (c) Register. The Agent, acting solely for this purpose as an agent of the Borrowers,
shall maintain at one of its offices in the United States a copy of each Assignment and Assumption
delivered to it and a register for the recordation of the names and addresses of the Lenders, and
the Commitments of, and principal amounts (and stated interest) of the Advances owing to, each
Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the
Register shall be conclusive absent manifest error, and the Borrowers, the Agent and the Lenders
shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a
Lender hereunder for all purposes of this Agreement. The Register shall be available for
inspection by the Borrowers and any Lender, at any reasonable time and from time to time upon
reasonable prior notice.

          (d) Participations. Any Lender may at any time, without the consent of, or notice to,
the Company, the Agent, any Issuing Bank or any Swing Line Bank, sell participations to any Person
(other than a natural Person or the Company or any of the Company’s Affiliates or Subsidiaries)
(each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations
under this Agreement (including all or a portion of its Commitment and/or the Advances owing to
it); provided that (i) such Lender’s obligations under this Agreement shall remain
unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the
performance of such obligations, (iii) the Borrowers, the Agent, the Issuing Banks and Lenders
shall continue to deal solely and directly with such Lender in connection with such Lender’s rights
and obligations under this Agreement and (iv) that to the extent the participation concerns an
amount of less than €100,000 (or its equivalent in any other currency) or such greater amount as
may be required pursuant to the Dutch Financial Supervision Act (Wet op het financieel toezicht) as
amended from time to time, the Participant is a “Professional Market Party” within the meaning of
the Dutch Financial Supervision Act. For the avoidance of doubt, each Lender shall be responsible
for the indemnity under Section 9.04(d) with respect to any payments made by such Lender to its
Participant(s).

          Any agreement or instrument pursuant to which a Lender sells such a participation shall
provide that such Lender shall retain the sole right to enforce this Agreement and to approve any
amendment, modification or waiver of any provision of this Agreement; provided that such
agreement or instrument may provide that such Lender will not, without the consent of the
Participant, agree to any amendment, modification or waiver described in the first proviso to
Section 9.01 that affects such Participant. The Borrowers agree that each Participant shall be
entitled to the benefits of Sections 2.11, 9.04(d) and 2.14 (subject to the requirements and
limitations therein, including the requirements under Section 2.14(g) (it being understood that the
documentation required under Section 2.14(g) shall be delivered to the participating Lender)) to
the same extent as if it were a Lender and had acquired its interest by assignment pursuant to
paragraph (b) of this Section; provided that such Participant (A) agrees to be subject to
the provisions of Sections 2.21 as if it were an assignee under paragraph (b) of this Section; and
(B) shall not be entitled to receive any greater payment under Sections 2.11 or 2.14, with respect
to any participation, than its participating Lender would have been entitled to receive, except to
the extent such entitlement to receive a greater payment results from a Change in Law that occurs
after the Participant acquired the applicable participation. Each Lender that sells a
participation agrees, at the Company’s request and expense, to use reasonable efforts to cooperate
with the Company to effectuate the provisions of Section 2.21(b) with respect to any Participant.
To the extent permitted by law, each
Participant also shall be entitled to the benefits of Section 9.05 as though it were a Lender;
provided that such Participant agrees to be subject to Section 2.15 as though it were a
Lender. Each Lender that sells a participation shall, acting solely for this purpose as an agent
of the Company, maintain a register on

76

 

which it enters the name and address of each Participant and
the principal amounts (and stated interest) of each Participant’s interest in the Advances or other
obligations under the Loan Documents (the “Participant Register”); provided that no
Lender shall have any obligation to disclose all or any portion of the Participant Register
(including the identity of any Participant or any information relating to a Participant’s interest
in any commitments, loans, letters of credit or its other obligations under any Loan Document) to
any Person except to the extent that such disclosure is necessary to establish that such
commitment, loan, letter of credit or other obligation is in registered form under Section
5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register
shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is
recorded in the Participant Register as the owner of such participation for all purposes of this
Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Agent (in
its capacity as Agent) shall have no responsibility for maintaining a Participant Register.

          (e) Certain Pledges. Any Lender may at any time pledge or assign a security interest
in all or any portion of its rights under this Agreement to secure obligations of such Lender,
including any pledge or assignment to secure obligations to a Federal Reserve Bank or any central
bank having jurisdiction over such Lender; provided that no such pledge or assignment shall
release such Lender from any of its obligations hereunder or substitute any such pledgee or
assignee for such Lender as a party hereto.

          SECTION 9.08. Confidentiality. Each of the Agent, the Lenders and the Issuing Banks
agrees to maintain the confidentiality of the Information (as defined below), except that
Information may be disclosed (a) to its Affiliates and to its and its Affiliates’ respective
managers, administrators, trustees, partners, directors, officers, employees, agents, advisors and
other representatives (it being understood that the Persons to whom such disclosure is made will be
informed of the confidential nature of such Information and instructed to keep such Information
confidential), (b) to the extent requested by any regulatory authority purporting to have
jurisdiction over it (including any self-regulatory authority, such as the National Association of
Insurance Commissioners), (c) to the extent required by applicable laws or regulations or by any
subpoena or similar legal process, provided that, in such case and in the case of
clause (b) above, the Agent, such Lender or such Issuing Bank, as applicable, shall use
reasonable efforts to notify the Company promptly thereof prior to disclosure of such Information,
to the extent practicable and it is not prohibited from doing so by any law or regulation or by
such subpoena or legal process, (d) to any other party hereto, (e) in connection with the exercise
of any remedies hereunder or under any Note or any action or proceeding relating to this Agreement
or any Note or the enforcement of rights hereunder or thereunder, (f) subject to an agreement
containing provisions substantially the same as those of this Section, to (i) any assignee of or
participant in, or any prospective assignee of or participant in, any of its rights or obligations
under this Agreement ((it being understood that such actual or prospective assignee or participant
will be informed of the confidential nature of such Information and instructed to keep such
Information confidential), (ii) any actual or prospective party (or its managers, administrators,
trustees, partners, directors, officers, employees, agents, advisors and other representatives) to
any swap, derivative or other transaction under which payments are to be made by reference to the
Company and its obligations, this Agreement or payments hereunder (it being understood that such
actual or prospective party will be informed of the confidential nature of such Information and
instructed to keep such Information confidential), (iii) any rating agency, or (iv) the CUSIP
Service Bureau or any similar organization, (g) with the written consent of the Company or (h) to
the extent such Information (x) becomes publicly available other than as a result of a breach of
this Section or (y) becomes available to the Agent, any Lender, any Issuing Bank or any of their
respective Affiliates on a nonconfidential basis from a source other than the Company unless the
Agent, such Lender or such
Issuing Bank, as applicable, has actual knowledge that such source was required to keep such
Information confidential.

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          For purposes of this Section, “Information” means all information received from the
Company or any of its Subsidiaries relating to the Company or any of its Subsidiaries or any of
their respective businesses, other than any such information that is available to the Agent, any
Lender or any Issuing Bank on a nonconfidential basis prior to disclosure by the Company or any of
its Subsidiaries, provided that, in the case of information received from the Company or
any of its Subsidiaries after the date hereof, such information is clearly identified at the time
of delivery as confidential or should, because of its nature, reasonably be understood to be
confidential. Any Person required to maintain the confidentiality of Information as provided in
this Section shall be considered to have complied with its obligation to do so if such Person has
exercised the same degree of care to maintain the confidentiality of such Information as such
Person would accord to its own confidential information.

          SECTION 9.09. Designated Subsidiaries. (a) Designation. The Company may at
any time, and from time to time, upon not less than 15 Business Days’ notice in the case of any
Subsidiary so designated after the Effective Date, notify the Agent that the Company intends to
designate a Subsidiary as a “Designated Subsidiary” for purposes of this Agreement. On or after
the date that is 15 Business Days after such notice, upon delivery to the Agent of a Designation
Letter duly executed by the Company and the respective Subsidiary and substantially in the form of
Exhibit D hereto, such Subsidiary shall thereupon become a “Designated Subsidiary” for purposes of
this Agreement and, as such, shall have all of the rights and obligations of a Borrower hereunder.
The Agent shall promptly notify each Lender of the Company’s notice of such pending designation by
the Company and the identity of the respective Subsidiary. Following the giving of any notice
pursuant to this Section 9.09(a), if the designation of such Designated Subsidiary obligates the
Agent or any Lender to comply with “know your customer” or similar identification procedures in
circumstances where the necessary information is not already available to it, the Company shall,
promptly upon the request of the Agent or any Lender, supply such documentation and other evidence
as is reasonably requested by the Agent or any Lender in order for the Agent or such Lender to
carry out and be satisfied it has complied with the results of all necessary “know your customer”
or other similar checks under all applicable laws and regulations.

          If the Company shall designate as a Designated Subsidiary hereunder any Subsidiary not
organized under the laws of the United States or any State thereof, any Lender may, with notice to
the Agent and the Company, fulfill its Commitment by causing an Affiliate of such Lender to act as
the Lender in respect of such Designated Subsidiary.

          As soon as practicable after receiving notice from the Company or the Agent of the Company’s
intent to designate a Subsidiary as a Designated Subsidiary, and in any event no later than five
Business Days after the delivery of such notice, for a Designated Subsidiary that is organized
under the laws of a jurisdiction other than of the United States or a political subdivision
thereof, any Lender that may not legally lend to, establish credit for the account of and/or do any
business whatsoever with such Designated Subsidiary directly or through an Affiliate of such Lender
as provided in the immediately preceding paragraph (a “Protesting Lender”) shall so notify
the Company and the Agent in writing. With respect to each Protesting Lender, the Company shall,
effective on or before the date that such Designated Subsidiary shall have the right to borrow
hereunder, either (A) notify the Agent and such Protesting Lender that the Commitments of such
Protesting Lender shall be terminated; provided that such Protesting Lender shall have
received payment of an amount equal to the outstanding principal of its Advances and/or Letter of
Credit reimbursement obligations, accrued interest thereon, accrued fees and all other amounts
payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued
interest and fees) or the Company or the relevant Designated Subsidiary (in the case of all
other amounts), or (B) cancel its request to designate such Subsidiary as a “Designated
Subsidiary” hereunder.

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          (b) Termination. Upon the payment and performance in full of all of the indebtedness,
liabilities and obligations under this Agreement and the Notes of any Designated Subsidiary then,
so long as at the time no Notice of Revolving Credit Borrowing in respect of such Designated
Subsidiary is outstanding, such Subsidiary’s status as a “Designated Subsidiary” shall terminate
upon written notice to such effect from the Agent to the Lenders (which notice the Agent shall give
promptly upon its receipt of a request therefor from the Company). Thereafter, the Lenders shall
be under no further obligation to make any Advance hereunder to such Designated Subsidiary.

          SECTION 9.10. Governing Law; Jurisdiction; Etc.

          (a) Governing Law. This Agreement and the other Loan Documents and any claims,
controversy, dispute or cause of action (whether in contract or tort or otherwise) based upon,
arising out of or relating to this Agreement or any other Loan Document (except, as to any other
Loan Document, as expressly set forth therein) and the transactions contemplated hereby and thereby
shall be governed by, and construed in accordance with, the law of the State of New York.

          (b) Jurisdiction. Each party hereto irrevocably and unconditionally agrees that it
will not commence any action, litigation or proceeding of any kind or description, whether in law
or equity, whether in contract or in tort or otherwise, against any other party hereto, or any
Related Party of the foregoing in any way relating to this Agreement or any other Loan Document or
the transactions relating hereto or thereto, in any forum other than the courts of the State of New
York sitting in New York County, and of the United States District Court of the Southern District
of New York, and any appellate court from any thereof, and each of the parties hereto irrevocably
and unconditionally submits to the jurisdiction of such courts and agrees that all claims in
respect of any such action, litigation or proceeding may be heard and determined in such New York
State court or, to the fullest extent permitted by applicable law, in such federal court. Each of
the parties hereto agrees that a final judgment in any such action, litigation 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. Nothing in this Agreement or in any other Loan Document shall affect any
right that the Agent, any Lender or any Issuing Bank may otherwise have to bring any action or
proceeding relating to this Agreement or any other Loan Document against the Company or any other
Loan Party or its properties in the courts of any jurisdiction in connection with the exercise of
any rights under any agreement related to collateral provided hereunder that is governed by laws
other than the law of the State of New York or to enforce a judgment obtained from a court in New
York.

          (c) Waiver of Venue. Each party hereto irrevocably and unconditionally waives, to the
fullest extent permitted by applicable law, any objection that it may now or hereafter have to the
laying of venue of any action or proceeding arising out of or relating to this Agreement or any
other Loan Document in any court referred to in paragraph (b) of this Section. Each of the parties
hereto hereby irrevocably waives, to the fullest extent permitted by applicable law, the defense of
an inconvenient forum to the maintenance of such action or proceeding in any such court.

          (d) Service of Process. Each party hereto irrevocably consents to service of process
in the manner provided for notices in Section 9.02. Nothing in this Agreement will affect the
right of any party hereto to serve process in any other manner permitted by applicable law.

          SECTION 9.11. Execution in Counterparts. This Agreement may be executed in any number
of counterparts and by different parties hereto in separate counterparts, each of which when so
executed shall be deemed to be an original and all of which taken together shall constitute
one and the same agreement. Delivery of an executed counterpart of a signature page to this
Agreement by telecopier

79

 

or other electronic means shall be effective as delivery of a manually
executed counterpart of this Agreement.

          SECTION 9.12. Judgment. (a) If for the purposes of obtaining judgment in any court
it is necessary to convert a sum due hereunder in Dollars into another currency, the parties hereto
agree, to the fullest extent that they may effectively do so, that the rate of exchange used shall
be that at which in accordance with normal banking procedures the Agent could purchase Dollars with
such other currency at Citibank’s principal office in London at 11:00 A.M. (London time) on the
Business Day preceding that on which final judgment is given.

          (b) If for the purposes of obtaining judgment in any court it is necessary to convert a sum
due hereunder in a Committed Currency into Dollars, the parties agree to the fullest extent that
they may effectively do so, that the rate of exchange used shall be that at which in accordance
with normal banking procedures the Agent could purchase such Committed Currency with Dollars at
Citibank’s principal office in London at 11:00 A.M. (London time) on the Business Day preceding
that on which final judgment is given.

          (c) The obligation of any Borrower in respect of any sum due from it in any currency (the
“Primary Currency”) to any Lender or the Agent hereunder shall, notwithstanding any
judgment in any other currency, be discharged only to the extent that on the Business Day following
receipt by such Lender or the Agent (as the case may be), of any sum adjudged to be so due in such
other currency, such Lender or the Agent (as the case may be) may in accordance with normal banking
procedures purchase the applicable Primary Currency with such other currency; if the amount of the
applicable Primary Currency so purchased is less than such sum due to such Lender or the Agent (as
the case may be) in the applicable Primary Currency, each Borrower agrees, as a separate obligation
and notwithstanding any such judgment, to indemnify such Lender or the Agent (as the case may be)
against such loss, and if the amount of the applicable Primary Currency so purchased exceeds such
sum due to any Lender or the Agent (as the case may be) in the applicable Primary Currency, such
Lender or the Agent (as the case may be) agrees to remit to such Borrower such excess.

          SECTION 9.13. Substitution of Currency. If a change in any Committed Currency occurs
pursuant to any applicable law, rule or regulation of any governmental, monetary or multi-national
authority, this Agreement (including, without limitation, the definition of Eurocurrency Rate) will
be amended to the extent determined by the Agent (acting reasonably and in consultation with the
Company) to be necessary to reflect the change in currency and to put the Lenders and the Borrowers
in the same position, so far as possible, that they would have been in if no change in such
Committed Currency had occurred.

          SECTION 9.14. No Liability of the Issuing Banks. The Borrowers assume all risks of
the acts or omissions of any beneficiary or transferee of any Letter of Credit with respect to its
use of such Letter of Credit. Neither an Issuing Bank nor any of its officers or directors shall
be liable or responsible for: (a) the use that may be made of any Letter of Credit or any acts or
omissions of any beneficiary or transferee in connection therewith; (b) the validity, sufficiency
or genuineness of documents, or of any endorsement thereon, even if such documents should prove to
be in any or all respects invalid, insufficient, fraudulent or forged; (c) payment by such Issuing
Bank against presentation of documents that do not comply with the terms of a Letter of Credit,
including failure of any documents to bear any reference or adequate reference to the Letter of
Credit; or (d) any other circumstances whatsoever in making or failing to make payment under any
Letter of Credit, except that the applicable Borrower shall
have a claim against such Issuing Bank, and such Issuing Bank shall be liable to such
Borrower, to the extent of any direct, but not consequential, damages suffered by such Borrower
that such Borrower proves were caused by such Issuing Bank’s willful misconduct, bad faith or gross
negligence when

80

 

determining whether drafts and other documents presented under a Letter of Credit
comply with the terms thereof. In furtherance and not in limitation of the foregoing, such Issuing
Bank may accept documents that appear on their face to be in order, without responsibility for
further investigation, regardless of any notice or information to the contrary; provided
that nothing herein shall be deemed to excuse such Issuing Bank if it acts with gross negligence,
bad faith or willful misconduct in accepting such documents.

          SECTION 9.15. Patriot Act Notice. Each Lender and the Agent (for itself and not on
behalf of any Lender) hereby notifies each Borrower that pursuant to the requirements of the
Patriot Act, it is required to obtain, verify and record information that identifies each Borrower,
which information includes the name and address of each Borrower and other information that will
allow such Lender or the Agent, as applicable, to identify each Borrower in accordance with the
Patriot Act. Each Borrower shall provide such information and take such actions as are reasonably
requested by the Agent or any Lenders in order to assist the Agent and the Lenders in maintaining
compliance with the Patriot Act.

          SECTION 9.16. Power of Attorney. Each Subsidiary of the Company may from time to time
authorize and appoint the Company as its attorney-in-fact to execute and deliver (a) any amendment,
waiver or consent in accordance with Section 9.01 on behalf of and in the name of such Subsidiary
and (b) any notice or other communication hereunder, on behalf of and in the name of such
Subsidiary. Such authorization shall become effective as of the date on which such Subsidiary
delivers to the Agent a power of attorney enforceable under applicable law and any additional
information to the Agent as necessary to make such power of attorney the legal, valid and binding
obligation of such Subsidiary.

          SECTION 9.17. No Fiduciary Duty. Each Borrower agrees that in connection with all
aspects of the transactions contemplated hereby and any communications in connection therewith,
each Borrower and its Affiliates, on the one hand, and the Agent, the Bookrunners, Arrangers,
syndication agent, documentation agent, the Issuing Banks, the Lenders and their respective
Affiliates, on the other hand, will have a business relationship that does not create, by
implication or otherwise, any fiduciary duty on the part of the Agent, the Bookrunners, Arrangers,
syndication agent, documentation agent, the Issuing Banks, the Lenders or their respective
Affiliates and no such duty will be deemed to have arisen in connection with any such transactions
or communications.

          SECTION 9.18. Waiver of Jury Trial. Each of the Company, the other Borrowers, the
Agent and the Lenders hereby irrevocably waives all right 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 Notes or the actions of the Agent or any Lender in the
negotiation, administration, performance or enforcement thereof.

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          IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their
respective officers thereunto duly authorized, as of the date first above written.

	 	 	 	 	 
	 	INTERNATIONAL FLAVORS & 
   FRAGRANCES INC.

 	 
	 	By:  	      /s/ Robert Anderson
 	 
	 	 	Name:  	Robert Anderson 	 
	 	 	Title:  	Treasurer 	 
	 
	 	INTERNATIONAL FLAVORS & 
   INTERNATIONAL
FLAVORS & 
   FRAGRANCES (LUXEMBOURG)

   S.à.r.l.

 	 
	 	By:  	      /s/ Robert Anderson
 	 
	 	 	Name:  	Robert Anderson 	 
	 	 	Title:  	Manager 	 
	 
	 	INTERNATIONAL FLAVORS &
    FRAGRANCES
(NEDERLAND) 
   HOLDING B.V.

 	 
	 	By:  	/s/ Jeroen Henricus Maria van Noorden
 	 
	 	 	Name:  	Jeroen Henricus Maria van Noorden	 
	 	 	Title:  	
Managing Director 	 
	 
	 	INTERNATIONAL FLAVORS &
    FRAGRANCES I.F.F.
(NEDERLAND) 
   B.V.

 	 
	 	By:  	/s/ Jeroen Henricus Maria van Noorden
 	 
	 	 	Name:  	Jeroen Henricus Maria van Noorden	 
	 	 	Title:  	
Managing Director 	 
	 
	 	IFF LATIN AMERICAN HOLDINGS 
   (ESPAÑA) S.L.

 	 
	 	By:  	/s/ Emilio Pérez Carrillo
 	 
	 	 	Name:  	Emilio Pérez Carrillo 	 
	 	 	Title:  	Managing Director 	 

82

 

	 	 	 	 	 

	 	 	 	 	 
	 	CITIBANK, N.A.,

       as Agent

 	 
	 	By:  	/s/ Shannon A. Sweeney
 	 
	 	 	Name:  	Shannon A. Sweeney 	 
	 	 	Title:  	Vice President 	 
	 
	 	Initial Lenders

CITIBANK, N.A.

 	 
	 	By:  	/s/ Shannon A. Sweeney
 	 
	 	 	Name:  	Shannon A. Sweeney 	 
	 	 	Title:  	Vice President 	 
	 
	 	JPMORGAN CHASE BANK, N.A.

 	 
	 	By:  	/s/ Michelle Cipriani
 	 
	 	 	Name:  	Michelle Cipriani 	 
	 	 	Title:  	Vice President 	 
	 
	 	FORTIS BANK SA/NV

 	 
	 	By:  	/s/ Francis Vandeventer
 	 
	 	 	Name:  	Francis Vandeventer 	 
	 	 	Title:  	Brussels Loan Syndications 	 
	 
	 	 	 
	 	By:  	      /s/ Hans Maas
 	 
	 	 	Name:  	Hans Maas 	 
	 	 	Title:  	Executive Director 	 

83

 

	 	 	 	 	 

	 	 	 	 	 
	 	THE BANK OF TOKYO-MITSUBISHI UFJ, 
LTD.

 	 
	 	By:  	/s/ Lillian Kim
 	 
	 	 	Name:  	Lillian Kim 	 
	 	 	Title:  	Director 	 
	 
	 	MORGAN STANLEY BANK, N.A.

 	 
	 	By:  	/s/ Michael King
 	 
	 	 	Name:  	Michael King 	 
	 	 	Title:  	Authorized Signatory 	 
	 
	 	RBS CITIZENS, N.A.

 	 
	 	By:  	/s/ Paul Darribo
 	 
	 	 	Name:  	Paul Darribo 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	U.S. BANK NATIONAL ASSOCIATION

 	 
	 	By:  	/s/ Michael N. Ryno
 	 
	 	 	Name:  	Michael N. Ryno 	 
	 	 	Title:  	Vice President 	 
	 
	 	SOVEREIGN BANK

 	 
	 	By:  	/s/ Carlos A. Calixto
 	 
	 	 	Name:  	Carlos A. Calixto 	 
	 	 	Title:  	Vice President 	 

84

 

	 	 	 	 	 

	 	 	 	 	 
	 	HSBC BANK USA, NATIONAL 

       ASSOCIATION
 	 
	 	By:  	/s/ Randolph E. Gates
 	 
	 	 	Name:  	Randolph E. Gates 	 
	 	 	Title:  	Senior Relationship Manager,

Corporate Banking 	 
	 
	 	ING BANK N.V. DUBLIN BRANCH

 	 
	 	By:  	/s/ Maurice Kenny
 	 
	 	 	Name:  	Maurice Kenny 	 
	 	 	Title:  	Director 	 
	 
	 	 	 
	 	By:  	         /s/ Aidan Neill
 	 
	 	 	Name:  	Aidan Neill 	 
	 	 	Title:  	Director 	 
	 
	 	WELLS FARGO BANK, NATIONAL 

       ASSOCIATION
 	 
	 	By:  	/s/ Denis Waltrich
 	 
	 	 	Name:  	Denis Waltrich 	 
	 	 	Title:  	Vice President 	 
	 
	 	STANDARD CHARTERED BANK

 	 
	 	By:  	/s/ James P. Hughes
 	 
	 	 	Name:  	James P. Hughes 	 
	 	 	Title:  	Director 	 
	 
	 	 	 
	 	By:  	     /s/ Robert K. Reddington
 	 
	 	 	Name:  	Robert K. Reddington 	 
	 	 	Title:  	Credit Documentation Manager 	 

85

 

	 	 	 	 	 

	 	 	 	 	 
	 	COBANK, ACB

 	 
	 	By:  	/s/ Michael Tousignant
 	 
	 	 	Name:  	Michael Tousignant 	 
	 	 	Title:  	Vice President 	 
	 

86

 

SCHEDULE I

INTERNATIONAL FLAVORS & FRAGRANCES INC.

FIVE YEAR CREDIT AGREEMENT

COMMITMENTS

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Tranche A	 	 	 	 	 	 	 	 	 	 	Tranche B	 	 	 	 	 	 	 	 	 	 
	 	 	Revolving	 	 	Tranche A	 	 	Tranche A	 	 	Revolving	 	 	Tranche B	 	 	Tranche B	 	 	Tranche C	 
	 	 	Credit	 	 	Letter of Credit	 	 	Swing Line	 	 	Credit	 	 	Letter of Credit	 	 	Swing Line	 	 	Revolving Credit	 
	Name of Lender	 	Commitment	 	 	Commitment	 	 	Commitment	 	 	Commitment	 	 	Commitment	 	 	Commitment	 	 	Commitment	 
	Citibank, N.A.
	 	$	64,000,000.00	 	 	$	25,000,000.00	 	 	$	25,000,000.00	 	 	$	56,000,000.00	 	 	 	 	 	 	€	25,000,000.00	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	JPMorgan Chase
Bank, N.A.
	 	$	64,000,000.00	 	 	 	 	 	 	 	 	 	 	$	56,000,000.00	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Fortis Bank SA/NV
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	€	87,396,000.00]	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	The Bank of
Tokyo-Mitsubishi
UFJ, Ltd.
	 	$	53,333,333.30	 	 	 	 	 	 	 	 	 	 	$	46,666,666.70	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Morgan Stanley
Bank, N.A.
	 	$	75,000,000.00	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	RBS Citizens, N.A.
	 	$	40,000,000.00	 	 	 	 	 	 	 	 	 	 	$	35,000,000.00	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	U.S. Bank National
Association
	 	$	40,000,000.00	 	 	 	 	 	 	 	 	 	 	$	35,000,000.00	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Sovereign Bank
	 	$	34,666,666.70	 	 	 	 	 	 	 	 	 	 	$	30,333,333.30	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	HSBC Bank USA,
National
Association
	 	$	26,666,666.70	 	 	 	 	 	 	 	 	 	 	$	23,333,333.30	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	ING Bank N.V.
Dublin Branch
	 	 	 	 	 	 	 	 	 	 	 	 	 	$	32,000,000.00	 	 	 	 	 	 	 	 	 	 	€	13,109,400.00]	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Wells Fargo Bank,
National
Association
	 	$	26,666,666.70	 	 	 	 	 	 	 	 	 	 	$	23,333,333.30	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Standard Chartered
Bank
	 	$	18,666,666.70	 	 	 	 	 	 	 	 	 	 	$	16,333,333.30	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	CoBank, ACB
	 	$	15,000,000.00	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Total:
	 	$	458,000,000.00	 	 	$	25,000,000.00	 	 	$	50,000,000.00	 	 	$	354,000,000.00	 	 	€	25,000,000.00	 	 	€	50,000,000.00	 	 	€	100,505,400.00	 

1

 

SCHEDULE II

Mandatory Cost Formulae

	1.	 	The Mandatory Cost is an addition to the interest rate to compensate Lenders for the
cost of compliance with (a) the requirements of the Bank of England and/or the Financial
Services Authority (or, in either case, any other authority which replaces all or any of its
functions) or (b) the requirements of the European Central Bank.

	2.	 	On the first day of each Interest Period (or as soon as possible thereafter) the Agent
shall calculate, as a percentage rate, a rate (the “Additional Cost Rate”) for each
Lender, in accordance with the paragraphs set out below. The Mandatory Cost will be
calculated by the Agent as a weighted average of the Lenders’ Additional Cost Rates (weighted
in proportion to the percentage participation of each Lender in the relevant Advance) and will
be expressed as a percentage rate per annum.

	3.	 	The Additional Cost Rate for any Lender lending from an Applicable Lending Office in a
Participating Member State will be the percentage notified by that Lender to the Agent. This
percentage will be certified by that Lender in its notice to the Agent to be its reasonable
determination of the cost (expressed as a percentage of that Lender’s Participation in all
Advances made from that Applicable Lending Office) of complying with the minimum reserve
requirements of the European Central Bank in respect of loans made from that Applicable
Lending Office.

	4.	 	The Additional Cost Rate for any Lender lending from an Applicable Lending Office in
the United Kingdom will be calculated by the Agent as follows:

	 	(a)	 	in relation to a domestic sterling Advance:

	 	 	 	 	 

	 

	 	AB + C(B
— D) + E x 0.01	 	per cent. per annum
	 

	 	100 — (A + C)	 

	 	(b)	 	in relation to a Advance in any currency other than domestic sterling:

	 	 	 	 	 

	 

	 	E x 0.01	 	per cent. per annum.
	 

	 	300	 

	 	 	 	Where:

	 	A	 	is the percentage of Eligible Liabilities (assuming these to be in excess of
any stated minimum) which that Lender is from time to time required to maintain as an
interest free cash ratio deposit with the Bank of England to comply with cash ratio
requirements.

	 	B	 	is the percentage rate of interest (excluding the Applicable Margin and the
Mandatory Cost and, if the Advance is an Unpaid Sum, the additional rate of interest
specified in Section 2.07(b) payable for the relevant Interest Period on the Advance.

	 	C	 	is the percentage (if any) of Eligible Liabilities which that Lender is
required from time to time to maintain as interest bearing Special Deposits with the
Bank of England.

1

 

	 	D	 	is the percentage rate per annum payable by the Bank of England to the Agent on
interest bearing Special Deposits.

	 	E	 	is the rate of charge payable by that Lender to the Financial Services
Authority pursuant to the Fees Rules (calculated for this purpose by the Agent as being
the average of the fee tariffs specified in the Fee Rules under the activity group A.1
Deposit acceptors, ignoring any minimum fee or zero rated fee required pursuant to the
Fee Rules) and expressed in pounds per £1,000,000 of the Fee Base of that Lender.

	5.	 	For the purposes of this Schedule:

	 	(a)	 	“Eligible Liabilities” and “Special Deposits” have the meanings
given to them from time to time under or pursuant to the Bank of England Act 1998 or (as
may be appropriate) by the Bank of England;

	 	(b)	 	“Fees Rules” means the rules on supervision fees contained in the FSA
Supervision Manual or such other law or regulation as may be in force from time to time
in respect of the payment of fees for the acceptance of deposits;

	 	(c)	 	“Tariff Base” has the meaning given to it, and will be calculated in
accordance with, the Fees Rules, and

	 	(d)	 	“Unpaid Sum” means any sum due and payable but unpaid by any Loan Party
under the Loan Documents.

	6.	 	In application of the above formulae, A, B, C and D will be included in the formulae
as percentages (i.e. 5 per cent. will be included in the formula as 5 and not as 0.05). A
negative result obtained by subtracting D from B shall be taken as zero. The resulting
figures shall be rounded to four decimal places.

	7.	 	Each Lender shall supply any information required by the Agent for the purpose of
calculating its Additional Cost Rate. In particular, but without limitation, each Lender shall
supply the following information in writing on or prior to the date on which it becomes a
Lender:

	 	(a)	 	its jurisdiction of incorporation and the jurisdiction of its Applicable
Lending Office; and

	 	(b)	 	any other information that the Agent may reasonably require for such purpose.

          Each Lender shall promptly notify the Agent in writing of any change to the information
provided by it pursuant to this paragraph.

	8.	 	The percentages or rates of charge of each Lender for the purpose of A, C and E above
shall be determined by the Agent based upon the information supplied to it pursuant to
paragraph 7 above and on the assumption that, unless a Lender notifies the Agent to the
contrary, each Lender’s obligations in relation to cash ratio deposits, Special Deposits and
the Fees Rules are the same as those of a typical bank from its jurisdiction of incorporation
with a Applicable Lending Office in the same jurisdiction as its Applicable Lending Office.

2

 

	9.	 	The Agent shall have no liability to any person if such determination results in an
Additional Cost Rate which over or under compensates any Lender and shall be entitled to
assume that the information provided by any Lender pursuant to paragraphs 3 and 7 above is
true and correct in all respects.

	10.	 	The Agent shall distribute the additional amounts received as a result of the
Mandatory Cost to the Lenders on the basis of the Additional Cost Rate for each Lender based
on the information provided by each Lender pursuant to paragraphs 3 and 7 above.

	11.	 	Any determination by the Agent pursuant to this Schedule in relation to a formula,
the Mandatory Cost, an Additional Cost Rate or any amount payable to a Lender shall, in the
absence of manifest error, be conclusive and binding on all parties hereto.

	12.	 	The Agent may from time to time, after consultation with the Company and the Lenders,
determine and notify to all parties hereto any amendments which are required to be made to this
Schedule in order to comply with any change in law, regulation or any requirements from time to
time imposed by the Bank of England, the Financial Services Authority or the European Central Bank
(or, in any case, any other authority which replaces all or any of its functions) and any such
determination shall, in the absence of manifest error, be conclusive and binding on all parties
hereto.

3

 

Schedule 5.02(a)

Existing Liens

None.

1

 

EXHIBIT A — FORM OF

REVOLVING CREDIT

PROMISSORY NOTE

			
	U.S.$                    
	 	Dated: _______________, 20__

     FOR VALUE RECEIVED, the undersigned, [NAME OF BORROWER], a __________ corporation (the
“Borrower”), HEREBY PROMISES TO PAY to the order of _________________________ (the
“Lender”) for the account of its Applicable Lending Office on the Termination Date (each as
defined in the Credit Agreement referred to below) the principal sum of U.S.$[amount of the
Lender’s Commitment in figures] or, if less, the aggregate principal amount of the Advances made by
the Lender to the [[Name of Borrower],] pursuant to the Credit Agreement, dated as of November __,
2011 among the Borrower, the Lender and certain other borrowers and lenders parties thereto, and
Citibank, N.A., as Agent for the Lender and such other lenders (as amended, restated, amended and
restated, supplemented or modified from time to time, the “Credit Agreement”; the terms
defined therein being used herein as therein defined) outstanding on the Termination Date.

     The Borrower promises to pay interest on the unpaid principal amount of each Advance from the
date of such Advance until such principal amount is paid in full, at such interest rates, and
payable at such times, as are specified in the Credit Agreement.

     Both principal and interest in respect of each Advance (i) in Dollars are payable in lawful
money of the United States of America to the Agent at its account maintained at 388 Greenwich
Street, New York, New York 10013, in same day funds and (ii) in any Committed Currency are payable
in such currency at the applicable Payment Office in same day funds. Each Advance owing to the
Lender by the Borrower pursuant to the Credit Agreement, and all payments made on account of
principal thereof, shall be recorded by the Lender and, prior to any transfer hereof, endorsed on
the grid attached hereto which is part of this Promissory Note.

     This Promissory Note is one of the Notes referred to in, and is entitled to the benefits of,
the Credit Agreement. The Credit Agreement, among other things, (i) provides for the making of
Revolving Credit Advances by the Lender to the Borrower from time to time in an aggregate amount
not to exceed at any time outstanding the U.S. dollar amount first above mentioned, the
indebtedness of the Borrower resulting from each such Advance being evidenced by this Promissory
Note, (ii) contains provisions for determining the Dollar Equivalent of Advances denominated in
Committed Currencies and (iii) contains provisions for acceleration of the maturity hereof upon the
happening of certain stated events and also for prepayments on account of principal hereof prior to
the maturity hereof upon the terms and conditions therein specified.

     This Promissory Note shall be governed by, and construed in accordance with, the law of the
State of New York.

     IN WITNESS WHEREOF, the Borrower has caused this Promissory Note to be duly executed and
delivered by its officer thereunto duly authorized as of the date first above written.

	 	 	 	 	 
	 	[NAME OF BORROWER]

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

1

 

ADVANCES AND PAYMENTS OF PRINCIPAL

	 	 	 	 	 	 	 	 	 
	 	 	 	 	Amount of	 	 	 	 
	 	 	Amount of	 	Principal Paid	 	Unpaid Principal	 	Notation
	Date	 	Advance	 	or Prepaid	 	Balance	 	Made By
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 

2

 

EXHIBIT B — FORM OF NOTICE OF

REVOLVING CREDIT BORROWING

Citibank, N.A., as Agent

for the Lenders parties

to the Credit Agreement

referred to below

1615 Brett Road, Building #3

New Castle, Delaware 19720

[Citibank International plc

5th Floor CGC2

Canary Wharf, London

E14 5LB

Attention of European Loans Agency Office

Capital Markets and Banking Operations]1

[Date]

          Attention: Bank Loan Syndications Department

Ladies and Gentlemen:

          The undersigned, [Name of Borrower], refers to the Credit Agreement, dated as of November __,
2011 (as amended, restated, amended and restated, supplemented or modified from time to time, the
“Credit Agreement”, the terms defined therein being used herein as therein defined), among
the undersigned, certain other borrowers and Lenders parties thereto and Citibank, N.A., as Agent
for said Lenders, and hereby gives you notice, irrevocably, pursuant to Section 2.02 of the Credit
Agreement that the undersigned hereby requests a Revolving Credit Borrowing under the Credit
Agreement, and in that connection sets forth below the information relating to such Revolving
Credit Borrowing (the “Proposed Revolving Credit Borrowing”) as required by Section 2.02(a)
of the Credit Agreement:

     (i) The Business Day of the Proposed Revolving Credit Borrowing is _______________,
20_.

          (ii) The Proposed Revolving Credit Borrowing is to be made under the Tranche [A][B][C]
Facility. The Type of Advances comprising the Proposed Revolving Credit Borrowing is [Base Rate
Advances] [Eurocurrency Rate Advances].

     (iii) The aggregate amount of the Proposed Revolving Credit Borrowing is
$_______________][for a Revolving Credit Borrowing in a Committed Currency, list currency
and amount of Revolving Credit Borrowing].

     [(iv) The initial Interest Period for each Eurocurrency Rate Advance made as part of
the Proposed Revolving Credit Borrowing is _____ month[s].]

          The undersigned hereby certifies that the following statements are true on the date hereof,
and will be true on the date of the Proposed Revolving Credit Borrowing:

 

			
	1	 	Insert for any Borrowing to be denominated in a currency other than Dollars.

1

 

     (A) the representations and warranties contained in Section 4.01 of the Credit
Agreement [(except the representations set forth in the last sentence of subsection (e)
thereof and in subsection (f)(i) thereof)]2 [and, in the case of any Revolving
Credit Borrowing made to a Designated Subsidiary, in the Designation Agreement for such
Designated Subsidiary,]3 are correct, before and after giving effect to the
Proposed Revolving Credit Borrowing and to the application of the proceeds therefrom, as
though made on and as of such date (except for those representations and warranties that
specifically relate to a prior date, which shall have been correct on such prior date); and

     (B) no event has occurred and is continuing, or would result from such Proposed
Revolving Credit Borrowing or from the application of the proceeds therefrom, that
constitutes a Default.

	 	 	 	 	 
	 	Very truly yours,

[NAME OF BORROWER]

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

			
	2	 	Insert bracketed text for borrowings requested after the Closing Date.
	 
	3	 	Insert bracketed text for borrowings by a Designated Subsidiary.

2

 

EXHIBIT C — FORM OF

ASSIGNMENT AND ASSUMPTION

          This Assignment and Assumption (the “Assignment and Assumption”) is dated as of the
Effective Date set forth below and is entered into by and between the Assignor identified in item 1
below (the “Assignor”) and the Assignee identified in item 2 below (the
“Assignee”). Capitalized terms used but not defined herein shall have the meanings given
to them in the Credit Agreement identified below (as amended, restated, amended and restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”), receipt of a
copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth
in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a
part of this Assignment and Assumption as if set forth herein in full.

          For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the
Assignee, and the Assignee hereby irrevocably purchases and assumes from the Assignor, subject to
and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the
Effective Date inserted by the Agent as contemplated below (i) all of the Assignor’s rights and
obligations in its capacity as a Lender under the Credit Agreement and any other documents or
instruments delivered pursuant thereto to the extent related to the amount and percentage interest
identified below of all of such outstanding rights and obligations of the Assignor under the
respective facilities identified below (including without limitation any letters of credit,
guarantees, and swingline loans included in such facilities), and (ii) to the extent permitted to
be assigned under applicable law, all claims, suits, causes of action and any other right of the
Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under
or in connection with the Credit Agreement, any other documents or instruments delivered pursuant
thereto or the loan transactions governed thereby or in any way based on or related to any of the
foregoing, including, but not limited to, contract claims, tort claims, malpractice claims,
statutory claims and all other claims at law or in equity related to the rights and obligations
sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned by the
Assignor to the Assignee pursuant to clauses (i) and (ii) above being referred to herein
collectively as the “Assigned Interest”). Each such sale and assignment is without
recourse to the Assignor and, except as expressly provided in this Assignment and Assumption,
without representation or warranty by the Assignor.

	 	 	 	 	 	 	 

	1.

	 	Assignor:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 	 	[Assignor [is] [is not] a Defaulting Lender]	 	 
	 
	 	 	 	 	 	 
	2.

	 	Assignee:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	[indicate [Lender][Affiliate][Approved Fund] of [identify Lender]]
	 
	 	 	 	 	 	 
	3.

	 	Borrower(s):	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	4.	 	Agent:	 	Citibank, N.A., as the administrative agent under the Credit Agreement
	 
	 	 	 	 	 	 
	5.	 	Credit Agreement:	 	The Credit Agreement dated as of November __, 2011 among International Flavors & Fragrances Inc.,
the other Borrowers party thereto, the Lenders parties thereto, Citibank, N.A., as Administrative
Agent, and the other agents parties thereto

 

 

6. Assigned Interest[s]:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Aggregate Amount of	 	 	Amount of	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Commitment/	 	 	Commitment/	 	 	Percentage Assigned	 	 	 	 
	 	 	 	 	 	 	Facility	 	 	Advances for all	 	 	Advances	 	 	of Commitment/	 	 	 	 
	Assignor	 	Assignee	 	 	Assigned4	 	 	Lenders5	 	 	Assigned8	 	 	Advances6	 	 	CUSIP Number	 
	 
	 	 	 	 	 	 	 	 	 	$	 	 	 	$	 	 	 	 	%	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	$	 	 	 	$	 	 	 	 	%	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	$	 	 	 	$	 	 	 	 	%	 	 	 	 	 

[7. Trade Date: ______________]7

[Page break]

 

			
	4	 	Fill in the appropriate terminology for the
types of facilities under the Credit Agreement that are being assigned under
this Assignment (e.g., “Tranche A Facility,” “Tranche B Facility,” or “Tranche
C Facility”.)
	 
	5	 	Amount to be adjusted by the counterparties
to take into account any payments or prepayments made between the Trade Date
and the Effective Date.
	 
	6	 	Set forth, to at least 9 decimals, as a
percentage of the Commitment/Loans of all Lenders thereunder.
	 
	7	 	To be completed if the Assignor(s) and the
Assignee(s) intend that the minimum assignment amount is to be determined as of
the Trade Date.

 

 

Effective Date: _____________ ___, 20___ [TO BE INSERTED BY AGENT AND WHICH SHALL BE THE
EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.]

The terms set forth in this Assignment and Assumption are hereby agreed to:

	 	 	 	 	 
	 	ASSIGNOR

[NAME OF ASSIGNOR]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	ASSIGNEE

[NAME OF ASSIGNEE]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	[Consented to and]8 Accepted:

[NAME OF AGENT], as Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[Consented to:]9

[NAME OF RELEVANT PARTY]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

			
	8	 	To be added only if the consent of the Agent
is required by the terms of the Credit Agreement.
	 
	9	 	To be added only if the consent of any
Borrower and/or other parties (e.g. Swing Line Bank, Issuing Bank) is required
by the terms of the Credit Agreement.

 

 

ANNEX 1

STANDARD TERMS AND CONDITIONS FOR

ASSIGNMENT AND ASSUMPTION

          1. Representations and Warranties.

          1.1 Assignor. The Assignor (a) represents and warrants that (i) it is the legal and
beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any
lien, encumbrance or other adverse claim, (iii) it has full power and authority, and has taken all
action necessary, to execute and deliver this Assignment and Assumption and to consummate the
transactions contemplated hereby and (iv) it is [not] a Defaulting Lender; and (b) assumes no
responsibility with respect to (i) any statements, warranties or representations made in or in
connection with the Credit Agreement or any other Loan Document, (ii) the execution, legality,
validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any collateral
thereunder, (iii) the financial condition of the Borrower[s], any of [its/their] Subsidiaries or
Affiliates or any other Person obligated in respect of any Loan Document, or (iv) the performance
or observance by the Borrower[s], any of [its/their] Subsidiaries or Affiliates or any other Person
of any of their respective obligations under any Loan Document.

          1.2. Assignee. The Assignee (a) represents and warrants that (i) it has full power
and authority, and has taken all action necessary, to execute and deliver this Assignment and
Assumption and to consummate the transactions contemplated hereby and to become a Lender under the
Credit Agreement, (ii) it meets all the requirements to be an assignee under Section 9.07(b)(iii),
(v) and (vi) of the Credit Agreement (subject to such consents, if any, as may be required under
Section 9.07(b)(iii) of the Credit Agreement), (iii) from and after the Effective Date, it shall be
bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of the
Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it is sophisticated with
respect to decisions to acquire assets of the type represented by the Assigned Interest and either
it, or the Person exercising discretion in making its decision to acquire the Assigned Interest, is
experienced in acquiring assets of such type, (v) it has received a copy of the Credit Agreement,
and has received or has been accorded the opportunity to receive copies of the most recent
financial statements delivered pursuant to Section 5.01(h) thereof, as applicable, and such other
documents and information as it deems appropriate to make its own credit analysis and decision to
enter into this Assignment and Assumption and to purchase the Assigned Interest, (vi) it has,
independently and without reliance upon the Agent or any other Lender and based on such documents
and information as it has deemed appropriate, made its own credit analysis and decision to enter
into this Assignment and Assumption and to purchase the Assigned Interest, and (vii) if it is a
Foreign Lender attached to the Assignment and Assumption is any documentation required to be
delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the
Assignee; and (b) agrees that (i) it will, independently and without reliance on the Agent, the
Assignor or any other Lender, and based on such documents and information as it shall deem
appropriate at the time, continue to make its own credit decisions in taking or not taking action
under the Loan Documents, and (ii) it will perform in accordance with their terms all of the
obligations which by the terms of the Loan Documents are required to be performed by it as a
Lender.

          2. Payments. From and after the Effective Date, the Agent shall make all payments in
respect of the Assigned Interest (including payments of principal, interest, fees and other
amounts) to the Assignee whether such amounts have accrued prior to, on or after the Effective
Date. The Assignor and the Assignee shall make all appropriate adjustments in payments by the
Agent for periods prior to the Effective Date or with respect to the making of this assignment
directly between themselves.

 

Notwithstanding the foregoing, the Agent shall make all payments of interest, fees or other amounts
paid or payable in kind from and after the Effective Date to the Assignee.

          3. General Provisions. This Assignment and Assumption shall be binding upon, and
inure to the benefit of, the parties hereto and their respective successors and assigns. This
Assignment and Assumption may be executed in any number of counterparts, which together shall
constitute one instrument. Delivery of an executed counterpart of a signature page of this
Assignment and Assumption by telecopy or other electronic means shall be effective as delivery of a
manually executed counterpart of this Assignment and Assumption. This Assignment and Assumption
shall be governed by, and construed in accordance with, the law of the State of New York.

 

EXHIBIT E

[INTENTIONALLY OMITTED]

 

 

     EXHIBIT F — FORM OF

DESIGNATION AGREEMENT

[DATE]

To each of the Lenders

  parties to the Credit Agreement

  (as defined below) and to Citibank, N.A.,

  as Agent for such Lenders

Ladies and Gentlemen:

          Reference is made to the Credit Agreement, dated as of November __, 2011 (as amended,
restated, amended and restated, supplemented or otherwise modified from time to time, the
“Credit Agreement”) among International Flavors & Fragrances Inc., a New York corporation
(the “Company”), the other borrowers party thereto, the Lenders (as defined in the Credit
Agreement) and Citibank, N.A., as agent for the Lenders (the “Agent”). Terms defined in
the Credit Agreement are used herein with the same meaning.

          Please be advised that pursuant to Section 9.09 of the Credit Agreement, the Company hereby
designates its undersigned Subsidiary,                      (“Designated Subsidiary”), as a
“Designated Subsidiary” under and for all purposes of the Credit Agreement.

          The Designated Subsidiary, in consideration of each Lender’s agreement to extend credit to it
under and on the terms and conditions set forth in the Credit Agreement, does hereby assume each of
the obligations imposed upon a “Designated Subsidiary” and a “Borrower” under the Credit Agreement
and agrees to be bound by the terms and conditions of the Credit Agreement. In furtherance of the
foregoing, the Designated Subsidiary hereby represents and warrants to each Lender as follows:

     (a) The Designated Subsidiary is a corporation duly organized, validly existing and in
good standing under the laws of                                         .

     (b) The execution, delivery and performance by the Designated Subsidiary of this
Designation Agreement, the Credit Agreement and the Notes, if any, to be delivered by it are
within the Designated Subsidiary’s corporate or other powers, have been duly authorized by
all necessary corporate action and do not conflict with (i) the Designated Subsidiary’s
charter or by-laws other constitutive documents or (ii) any law or any material contractual
restriction, or to the knowledge of the Designated Subsidiary, any other contractual
restriction, binding on or affecting the Designated Subsidiary. The Designation Agreement
and the Notes, if any, delivered by it have been duly executed and delivered on behalf of
the Designated Subsidiary.

     (c) All Authorizations required (i) for the due execution, delivery and performance by
the Designated Subsidiary of this Designation Agreement, the Credit Agreement or the Notes,
if any, to be delivered by it or (ii) to make the Designation Agreement, the Credit
Agreement or the Notes, if any, admissible in evidence in its jurisdiction of incorporation
have been obtained or effected and are in full force and effect.

     (d) This Designation Agreement is, and the Notes, if any, to be delivered by the
Designated Subsidiary when delivered will be, legal, valid and binding obligations of the
Designated Subsidiary enforceable against the Designated Subsidiary in accordance with their

 

 

respective terms, except to the extent that such enforceability may be limited by any
applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws
affecting creditors’ rights generally from time to time in effect and may be subject to the
discretion of courts with respect to the granting of equitable remedies and to the power of
courts to stay proceedings for the execution of judgments.

     (e) There is no pending or threatened action, suit, investigation or proceeding,
including, without limitation, any Environmental Action, affecting the Designated Subsidiary
or any of its Subsidiaries before any court, governmental agency or arbitrator that purports
to affect the legality, validity or enforceability of this Designation Agreement, the Credit
Agreement or any Note of the Designated Subsidiary.

          The Designated Subsidiary hereby agrees that service of process in any action or proceeding
brought in any New York State court or in federal court may be made upon the Company at its
offices at 512 W. 57th Street, New York, New York 10019, Attention:                      (the “Process
Agent”) and the Designated Subsidiary hereby irrevocably appoints the Process Agent to give any
notice of any such service of process, and agrees that the failure of the Process Agent to give any
notice of any such service shall not impair or affect the validity of such service or of any
judgment rendered in any action or proceeding based thereon.

          The Company hereby accepts such appointment as Process Agent and agrees with you that (i) the
Company will maintain an office in New York, New York through the Termination Date and will give
the Agent prompt notice of any change of address of the Company, (ii) the Company will perform its
duties as Process Agent to receive on behalf of the Designated Subsidiary and its property service
of copies of the summons and complaint and any other process which may be served in any action or
proceeding in any New York State or federal court sitting in New York City arising out of or
relating to the Credit Agreement and (iii) the Company will forward forthwith to the Designated
Subsidiary at its address at                                          or, if different, its then current address, copies
of any summons, complaint and other process which the Company received in connection with its
appointment as Process Agent.

          This Designation Agreement shall be governed by, and construed in accordance with, the laws of
the State of New York.

	 	 	 	 	 
	 	Very truly yours,

INTERNATIONAL FLAVORS & 

          FRAGRANCES INC., as the Company

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[THE DESIGNATED SUBSIDIARY], as the

          Designated Subsidiary

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

EXHIBIT G — TAX FORMS

EXHIBIT G-1

FORM OF

U.S. TAX COMPLIANCE CERTIFICATE

(For Foreign Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes)

          Reference is hereby made to the Credit Agreement, dated as of November __, 2011 (as amended,
supplemented or otherwise modified from time to time, the “Credit Agreement”), among
International Flavors & Fragrances Inc., International Flavors & Fragrances (Luxembourg) S.à.r.l.,
International Flavors & Fragrances (Nederland) Holding B.V., International Flavors & Fragrances
(Nederland) B.V., IFF Latin American Holdings (España) S.L., Citibank, N.A., as administrative
agent, and each lender from time to time party thereto.

          Pursuant to the provisions of Section 2.14 of the Credit Agreement, the undersigned hereby
certifies that (i) it is the sole record and beneficial owner of the Advance(s) (as well as any
Note(s) evidencing such Advance(s)) in respect of which it is providing this certificate, (ii) it
is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent
shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and (iv) it is
not a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C)
of the Code.

          The undersigned has furnished the Administrative Agent and the Borrower with a certificate of
its non-U.S. Person status on IRS Form W-8BEN. By executing this certificate, the undersigned
agrees that (1) if the information provided on this certificate changes, the undersigned shall
promptly so inform the Borrowers and the Agent, and (2) the undersigned shall have at all times
furnished the Borrowers and the Agent with a properly completed and currently effective certificate
in either the calendar year in which each payment is to be made to the undersigned, or in either of
the two calendar years preceding such payments.

          Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall
have the meanings given to them in the Credit Agreement.

	 	 	 	 	 
	 	[NAME OF LENDER]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

Date:                      __, 20[   ]

 

 

EXHIBIT G-2

FORM OF

U.S. TAX COMPLIANCE CERTIFICATE

(For Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes)

          Reference is hereby made to the Credit Agreement, dated as of November __, 2011 (as amended,
supplemented or otherwise modified from time to time, the “Credit Agreement”), among
International Flavors & Fragrances Inc., International Flavors & Fragrances (Luxembourg) S.à.r.l.,
International Flavors & Fragrances (Nederland) Holding B.V., International Flavors & Fragrances
(Nederland) B.V., IFF Latin American Holdings (España) S.L., Citibank, N.A., as administrative
agent, and each lender from time to time party thereto.

          Pursuant to the provisions of Section 2.14 of the Credit Agreement, the undersigned hereby
certifies that (i) it is the sole record and beneficial owner of the participation in respect of
which it is providing this certificate, (ii) it is not a bank within the meaning of Section
881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of the Borrower within the
meaning of Section 871(h)(3)(B) of the Code, and (iv) it is not a controlled foreign corporation
related to the Borrower as described in Section 881(c)(3)(C) of the Code.

          The undersigned has furnished its participating Lender with a certificate of its non-U.S.
Person status on IRS Form W-8BEN. By executing this certificate, the undersigned agrees that (1)
if the information provided on this certificate changes, the undersigned shall promptly so inform
such Lender in writing, and (2) the undersigned shall have at all times furnished such Lender with
a properly completed and currently effective certificate in either the calendar year in which each
payment is to be made to the undersigned, or in either of the two calendar years preceding such
payments.

          Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall
have the meanings given to them in the Credit Agreement.

	 	 	 	 	 
	 	[NAME OF PARTICIPANT]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

Date:                      __, 20[    ]

2

 

EXHIBIT G-3

FORM OF

U.S. TAX COMPLIANCE CERTIFICATE

(For Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes)

          Reference is hereby made to the Credit Agreement, dated as of November __, 2011 (as amended,
supplemented or otherwise modified from time to time, the “Credit Agreement”), among
International Flavors & Fragrances Inc., International Flavors & Fragrances (Luxembourg) S.à.r.l.,
International Flavors & Fragrances (Nederland) Holding B.V., International Flavors & Fragrances
(Nederland) B.V., IFF Latin American Holdings (España) S.L., Citibank, N.A., as administrative
agent, and each lender from time to time party thereto.

          Pursuant to the provisions of Section 2.14 of the Credit Agreement, the undersigned hereby
certifies that (i) it is the sole record owner of the participation in respect of which it is
providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial
owners of such participation, (iii) with respect such participation, neither the undersigned nor
any of its direct or indirect partners/members is a bank extending credit pursuant to a loan
agreement entered into in the ordinary course of its trade or business within the meaning of
Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members is a ten
percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and (v)
none of its direct or indirect partners/members is a controlled foreign corporation related to the
Borrower as described in Section 881(c)(3)(C) of the Code.

          The undersigned has furnished its participating Lender with IRS Form W-8IMY accompanied by one
of the following forms from each of its partners/members that is claiming the portfolio interest
exemption: (i) an IRS Form W-8BEN or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN from
each of such partner’s/member’s beneficial owners that is claiming the portfolio interest
exemption. By executing this certificate, the undersigned agrees that (1) if the information
provided on this certificate changes, the undersigned shall promptly so inform such Lender and (2)
the undersigned shall have at all times furnished such Lender with a properly completed and
currently effective certificate in either the calendar year in which each payment is to be made to
the undersigned, or in either of the two calendar years preceding such payments.

          Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall
have the meanings given to them in the Credit Agreement.

	 	 	 	 	 
	 	[NAME OF PARTICIPANT]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

Date:                      __, 20[    ]

3

 

EXHIBIT G-4

FORM OF

U.S. TAX COMPLIANCE CERTIFICATE

(For Foreign Lenders That Are Partnerships For U.S. Federal Income Tax Purposes)

          Reference is hereby made to the Credit Agreement, dated as of November __, 2011 (as amended,
supplemented or otherwise modified from time to time, the “Credit Agreement”), among
International Flavors & Fragrances Inc., International Flavors & Fragrances (Luxembourg) S.à.r.l.,
International Flavors & Fragrances (Nederland) Holding B.V., International Flavors & Fragrances
(Nederland) B.V., IFF Latin American Holdings (España) S.L., Citibank, N.A., as administrative
agent, and each lender from time to time party thereto.

          Pursuant to the provisions of Section 2.14 of the Credit Agreement, the undersigned hereby
certifies that (i) it is the sole record owner of the Advance(s) (as well as any Note(s) evidencing
such Advance(s)) in respect of which it is providing this certificate, (ii) its direct or indirect
partners/members are the sole beneficial owners of such Advance(s) (as well as any Note(s)
evidencing such Advance(s)), (iii) with respect to the extension of credit pursuant to this Credit
Agreement or any other Loan Document, neither the undersigned nor any of its direct or indirect
partners/members is a bank extending credit pursuant to a loan agreement entered into in the
ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code,
(iv) none of its direct or indirect partners/members is a ten percent shareholder of the Borrower
within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect
partners/members is a controlled foreign corporation related to the Borrower as described in
Section 881(c)(3)(C) of the Code.

          The undersigned has furnished the Administrative Agent and the Borrower with IRS Form W-8IMY
accompanied by one of the following forms from each of its partners/members that is claiming the
portfolio interest exemption: (i) an IRS Form W-8BEN or (ii) an IRS Form W-8IMY accompanied by an
IRS Form W-8BEN from each of such partner’s/member’s beneficial owners that is claiming the
portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if
the information provided on this certificate changes, the undersigned shall promptly so inform the
Borrowers and the Agent, and (2) the undersigned shall have at all times furnished the Borrowers
and the Agent with a properly completed and currently effective certificate in either the calendar
year in which each payment is to be made to the undersigned, or in either of the two calendar years
preceding such payments.

          Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall
have the meanings given to them in the Credit Agreement.

	 	 	 	 	 
	 	[NAME OF LENDER]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

Date:                      __, 20[    ]

4

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