Document:

exv10w1

Exhibit 10.1

PLEDGE AND SECURITY AGREEMENT

     This PLEDGE AND SECURITY AGREEMENT, dated as of December 21, 2010 (as amended, supplemented,
amended and restated or otherwise modified from time to time, this “Security Agreement”),
is made by SWIFT SERVICES HOLDINGS, INC., a Delaware corporation (the “Company”) SWIFT
TRANSPORTATION COMPANY, a Delaware corporation (“Parent”), and each Subsidiary of Parent
from time to time a party to this Security Agreement (such Subsidiaries, together with Parent, the
“Guarantors”; and the Company and each Guarantor, individually a “Grantor” and
collectively, the “Grantors”), in favor of U.S. BANK NATIONAL ASSOCIATION, as the
collateral agent for each of the Secured Parties (together with its successor(s) thereto in such
capacity, the “Collateral Agent”).

W I T N E S S E T H:

     WHEREAS, pursuant to an Indenture, dated as of December 21, 2010 (as amended, supplemented,
amended and restated or otherwise modified from time to time, the “Indenture”), among the
Company, Parent, the Guarantors and U.S. Bank National Association, as the trustee for each of the
Secured Parties (together with its successor(s) thereto in such capacity, the “Trustee”),
the Company has duly authorized the creation of an issue of 10.000% Senior Second Priority Secured
Notes due 2018 (the “Notes”) issued on the date hereof and the Guarantors have duly
authorized their Note Guarantees of the Notes; and

     WHEREAS, it is a condition precedent to the issuance of the Notes that the Grantors shall have
executed and delivered this Agreement to the Collateral Agent in order to grant a security interest
in favor of the Collateral Agent for the benefit of the Secured Parties;

     NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, each Grantor agrees, for the benefit of each Secured Party, as follows:

ARTICLE I

DEFINITIONS

     SECTION 1.1. Certain Terms. The following terms (whether or not
underscored) when used in this Security Agreement, including its preamble and recitals, shall have
the following meanings (such definitions to be equally applicable to the singular and plural forms
thereof):

     “Capital Securities” means, with respect to any Person, all shares, interests,
participations or other equivalents (however designated, whether voting or non-voting) of such
Person’s capital, whether now outstanding or hereafter issued.

     “Collateral” is defined in Section 3.1.

     “Collateral Account” is defined in clause (b) of Section 5.3.

     “Company” is defined in the preamble.

     “Company Obligations” means any principal, interest, penalties, fees,
indemnifications, reimbursements, damages, costs, expenses and other liabilities payable by the
Company under and

 

 

pursuant to the terms of the Notes, the Indenture and the Security Documents, in each case,
whether now or hereafter existing, renewed or restructured, whether or not from time to time
decreased or extinguished in part and later increased, created or incurred, whether or not arising
on or after the filing of any petition in bankruptcy, or the commencement of any insolvency,
reorganization or like proceeding (including post-filing and post-petition interest, whether or not
a claim for post-filing or post-petition interest is allowed in such proceeding).

     “Control Agreement” means an authenticated record in form and substance reasonably
satisfactory to the Collateral Agent, that provides for the Collateral Agent to have “control” (as
defined in the UCC) over any applicable Investment Property (including Securities Accounts) or
Deposit Accounts.

     “Copyright Collateral” means with respect to each Grantor, all of such Grantor’s
right, title and interest throughout the world in and to:

     (a) all copyrights and copyrightable works of authorship owned by any
Grantor, whether registered or unregistered and whether published or unpublished, in any
media, now or hereafter in force including copyrights registered in the United States
Copyright Office and corresponding offices in other countries of the world, and
registrations thereof and all applications for registration thereof, whether pending or in
preparation and all extensions and renewals of the foregoing (“Copyrights”),
including the United States Copyright registrations and applications referred to in Item
A of Schedule V;

     (b) all Copyright licenses and other agreements for the grant by or to such
Grantor of any right to use any items of the type referred to in clause (a) above (each a
“Copyright License”), including each written, exclusive, inbound license of any
material United States Copyright application and/or registration referred to in Item
B of Schedule V;

     (c) the right to sue for past, present and future infringement or other
violation of any of the Copyrights owned by such Grantor, and for breach or enforcement of
any Copyright License; and

     (d) all proceeds of, and rights associated with, the foregoing (including
Proceeds, licenses, royalties, income, payments, claims, damages and proceeds of
infringement suits).

     “Copyright License” is defined in the definition of “Copyright Collateral.”

     “Copyrights” is defined in the definition of “Copyright Collateral.”

     “Distributions” means all dividends paid on Capital Securities, liquidating dividends
paid on Capital Securities, shares (or other designations) of Capital Securities resulting from (or
in connection with the exercise of) stock splits, reclassifications, warrants, options, non-cash
dividends, mergers, consolidations, and all other distributions (whether similar or dissimilar to
the foregoing) on or with respect to any Capital Securities constituting Collateral.

     “Filing Statements” is defined in clause (b) of Section 4.7.

          “GAAP” means generally accepted accounting principles in the United States set forth
in the opinions and pronouncements of the Accounting Principles Board and the American Institute of
Certified Public Accountants and statements and pronouncements of the Financial Accounting
Standards Board or such other principles as may be approved by a significant segment of the
accounting profession in the United States, that are applicable to the circumstances as of the date
of determination, consistently applied.

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     “General Intangibles” means all “general intangibles” and all “payment intangibles”,
each as defined in the UCC, and shall include all interest rate or currency protection or hedging
arrangements, all tax refunds, all licenses, permits, concessions and authorizations and all
Intellectual Property Collateral (in each case, regardless of whether characterized as general
intangibles under the UCC).

     “Governmental Authority” means the government of the United States 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 Person 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).

     “Grantor” and “Grantors” are defined in the preamble.

     “Guarantor Obligations” means with respect to any Guarantor, all obligations and
liabilities of such Guarantor which may arise under or in connection with the Indenture, its Note
Guarantee and the Security Documents, in each case whether on account of guarantee obligations,
reimbursement obligations, fees, indemnities, costs, expenses or otherwise (including, without
limitation, all fees and disbursements of counsel to the Collateral Agent or to the Trustee that
are required to be paid by such Guarantor pursuant to the Indenture).

     “Guarantors” is defined in the preamble.

     “IEL Notes” means those certain “Installment Contracts-Security Agreements” or any
similar documents entered into from time to time by IEL and its operators with respect to the sale
of Motor Vehicles.

          “Immaterial Subsidiary” means, at any date of determination, any Subsidiary of Parent
(other than the Company) that (i) does not, as of the most recently ended Measurement Period, have
total assets with a value in excess of 5% of the consolidated total assets of Parent and its
Subsidiaries for such date and (ii) did not, during the most recently ended Measurement Period,
have gross revenues exceeding 5% of the consolidated gross revenues of Parent and its Subsidiaries,
in each case determined in accordance with GAAP; provided that, the aggregate total
assets or gross revenues of all Immaterial Subsidiaries, determined in accordance with GAAP, may
not exceed 10% of consolidated total assets or consolidated gross revenues, respectively, of Parent
and its Subsidiaries, collectively, at any time.

     “Indenture” is defined in the first recital.

     “Intellectual Property” means Trademarks, Patents, Copyrights, Trade Secrets and all
other intellectual property arising under any applicable Law, statutory provision or common Law
doctrine in the United States or anywhere else in the world.

     “Intellectual Property Collateral” means, collectively, the Copyright Collateral, the
Patent Collateral, the Trademark Collateral and the Trade Secrets Collateral.

     “Intellectual Property Security Agreements” means the Copyright Security Agreement,
the Patent Security Agreement, and the Trademark Security Agreement substantially in the form set
forth in Exhibits A, B, and C, respectively.

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     “LKE Account” means the accounts held by Swift Transportation Company with account
numbers 50531288 for tractors and 50550123 for trailers (and any successor or replacement account
numbers associated with such accounts) in each case at Bank of America, N.A.; and any other Deposit
Account or Securities Account established by any Grantor following the Closing Date and designated
as a “Like Kind Exchange” account in the name of such account.

     “Material Adverse Effect” means (a) a material adverse change in, or a material
adverse effect upon, the operations, business, financial condition, performance or properties of
Parent and its Subsidiaries taken as a whole; (b) a material impairment of the rights and remedies
of any Secured Party under any Note Document to which it is a party, or of the ability of any
Grantor (other than an Immaterial Subsidiary) to perform its obligations under any Note Document
to which it is a party; or (c) a material adverse effect upon the legality, validity, binding
effect or enforceability against any Grantor (other than an Immaterial Subsidiary) of any Note
Document to which it is a party.

     “Measurement Period” means, at any date of determination, the most recently completed
four fiscal quarters of Parent or, if fewer than four consecutive fiscal quarters of Parent have
been completed since the Issue Date, the fiscal quarters of Parent that have been completed since
the Issue Date.

     “Motor Vehicle Monitor” means VinTek, in its capacity as monitor of the certificates
of motor vehicle title held by Parent and its Subsidiaries, or any successor thereto appointed by
and reasonably acceptable to the Swift Transportation and the administrative agent under the Credit
Agreement.

     “Motor Vehicle Title Office” is defined in Section 5.6(b).

     “Motor Vehicles” means all motor vehicles, tractors, containers, trailers and other
like property, whether or not title thereto is governed by a Certificate of Title or ownership.

     “Newly Acquired Motor Vehicle Financing” means (a) any incurrence of Indebtedness
permitted under Section 7.02(e) of the Credit Agreement secured by, or in the form of a
purchase money obligation or a capital lease in respect of, a Motor Vehicle purchased within 180
days of such incurrence of Indebtedness (other than any such Motor Vehicle purchased during the
continuance of an event of default under the Credit Agreement), (b) any sale and leaseback of a
Motor Vehicle purchased within 180 days of such sale and leaseback (other than any such Motor
Vehicle purchased during the continuance of an event of default under the Credit Agreement) and (c)
any entering by Parent or any Subsidiary into any operating lease, as a lessee thereunder, with
respect to the leasing of a Motor Vehicle.

     “Newly Acquired Motor Vehicles” means any Motor Vehicle acquired by a Grantor that
such Grantor reasonably anticipates will become subject to a Newly Acquired Motor Vehicle Financing
within 180 days of the acquisition of such Motor Vehicle; provided that (i) if at any time
within such 180-day period the applicable Grantor no longer reasonably anticipates such Motor
Vehicle will become subject to a Newly Acquired Motor Vehicle Financing within such 180-day period,
(ii) if such Motor Vehicle does not become subject to a Newly Acquired Motor Vehicle Financing
within such 180-day period or (iii) if at any time after becoming subject to a Newly Acquired Motor
Vehicle Financing, such Motor Vehicle is longer subject to a Newly Acquired Motor Vehicle Financing
(or any refinancing thereof), such Motor Vehicle shall, in each case, no longer be a Newly Acquired
Motor Vehicle.

     “Non-Fleet Type Motor Vehicles” means company cars and other Motor Vehicles used at
terminals for the repair, maintenance, servicing and other similar business operations of Parent
and its Subsidiaries.

     “Note Documents” means, collectively, (i) the Notes, (ii) the Indenture, (iii) the
Security

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Documents and (iv) each other agreement, certificate, document or instrument delivered in
connection with any of the foregoing, whether or not specifically mentioned therein.

     “Organization Documents” means, (a) with respect to any corporation, the certificate
or articles of incorporation and the bylaws (or equivalent or comparable constitutive documents
with respect to any non-U.S. jurisdiction); (b) with respect to any limited liability company, the
certificate or articles of formation or organization and operating agreement; and (c) with respect
to any partnership, joint venture, trust or other form of business entity, the partnership, joint
venture or other applicable agreement of formation or organization and any agreement, instrument,
filing or notice with respect thereto filed in connection with its formation or organization with
the applicable Governmental Authority in the jurisdiction of its formation or organization and, if
applicable, any certificate or articles of formation or organization of such entity.

     “Owned Intellectual Property Collateral” means with respect to any Grantor, all
Intellectual Property Collateral that is owned by such Grantor.

     “Patent Collateral” means with respect to any Grantor, all of such Grantors’ right,
title and interest throughout the world in and to:

     (a) inventions and discoveries, whether patentable or not, all letters patent and
applications for letters patent throughout the world, including all patent applications in
preparation for filing, including all reissues, divisions, continuations,
continuations-in-part, extensions, renewals and reexaminations of any of the foregoing, in
each case, owned by any Grantor (“Patents”), including each United States issued
Patent and Patent application referred to in Item A of Schedule III;

     (b) all Patent licenses, and other agreements for the grant by or to such Grantor of
any right to use any items of the type referred to in clause (a) above (each a
“Patent License”), including each written, exclusive, inbound license of any
material United States Patent application and/or registration referred to in Item B
of Schedule III;

     (c) the right to sue third parties for past, present and future infringements of any
Patent or Patent application, or for breach or enforcement of any Patent License; and

     (d) all proceeds of, and rights associated with, the foregoing (including Proceeds,
royalties, income, payments, claims, damage awards, and proceeds of infringement suits).

     “Patent License” is defined in the definition of “Patent Collateral.”

     “Patents” is defined in the definition of “Patent Collateral.”

     “Permitted Liens” means all Liens permitted by Section 4.12 of the Indenture.

     “Rule 3-16 Excluded Property” means any Capital Securities or intercompany note of the
Company or any other Subsidiary of the Parent to the extent that the pledge of such Capital
Securities or intercompany note results in the Company or any such other Subsidiary being required
to file separate financial statements of the Company or any such other Subsidiary with the SEC (or
any other governmental agency), but only to the extent necessary not to be subject to such
requirement. In the event that Rule 3-16 of Regulation S-X under the Securities Act is amended,
modified or interpreted by the SEC to require (or is replaced with another rule or regulation, or
any other law, rule or regulation is adopted, which would require) the filing with the SEC (or any
other governmental agency) of separate

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financial statements of the Company or any other Subsidiary of the Parent due to the fact that
the Company’s or such other Subsidiary’s Capital Securities or intercompany note secures the
Secured Obligations, then the Capital Securities or intercompany note of the Company or such other
Subsidiary shall automatically be deemed to be “Rule 3-16 Excluded Property” without consent from
any Secured Party, but only to the extent necessary to not be subject to such requirement. In the
event that Rule 3-16 of Regulation S-X under the Securities Act is amended, modified or interpreted
by the SEC to permit (or is replaced with another rule or regulation, or any other law, rule or
regulation is adopted, which would permit) the Company’s or any of the Parent’s other Subsidiaries’
Capital Securities or intercompany note to secure the Secured Obligations in excess of the amount
then pledged without the filing with the SEC (or any other governmental agency) of separate
financial statements of the Company or such other Subsidiary, then such Capital Securities or
intercompany note shall automatically cease to be deemed “Rule 3-16 Excluded Property”.

     “SEC” means the Securities and Exchange Commission, or any Governmental Authority
succeeding to any of its principal functions.

     “Secured Obligations” means, collectively, the Company Obligations and the Guarantor
Obligations.

     “Secured Parties” means the Collateral Agent, the Trustee and the Holders, and each of
their respective successors, transferees and assigns.

     “Securities Act” is defined in Section 7.2(a).

     “Security Agreement” is defined in the preamble.

     “Swift Transportation” means Swift Transportation Co., LLC, a Delaware limited
liability company.

     “Termination Date” means the date on which all Obligations have been paid in full in
cash, or have been legally defeased or have been subject to covenant defeasance in accordance with
Article 8 of the Indenture.

     “Trademark” is defined in the definition of “Trademark Collateral.”

     “Trademark Collateral” means with respect to any Grantor, all of such Grantor’s right,
title and interest throughout the world in and to:

     (a) (i) all trademarks, trade names, brand names, corporate names, company names,
business names, fictitious business names, trade styles, trade dress, domain names, service
marks, certification marks, collective marks, logos and other source or business
identifiers, whether registered or unregistered, in each case, owned by any Grantor and all
goodwill of the business associated therewith, now existing or hereafter adopted or
acquired, whether currently in use or not, all registrations thereof and all applications in
connection therewith, whether pending or in preparation for filing, including registrations
and applications in the United States Patent and Trademark Office or in any other office or
agency of the United States of America, or any State thereof, or in any other country or
political subdivision thereof, or otherwise, and all common law rights relating to the
foregoing, and (ii) the right to obtain all reissues, extensions or renewals of the
foregoing (collectively referred to as “Trademarks”), including those United States
Trademarks applications and registrations referred to in Item A of Schedule
IV;

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     (b) all Trademark licenses and other agreements for the grant by or to such Grantor of
any right to use any Trademark (each a “Trademark License”), including each written,
exclusive, inbound license of any material United States Trademark application and/or
registration referred to in Item B of Schedule IV;

     (c) the right to sue third parties for past, present and future infringement, dilution
or other violation of the Trademarks described in clause (a) and, to the extent
applicable, clause (b) or for any injury to the goodwill associated with the use of
any such Trademark or for breach or enforcement of any Trademark License; and

     (d) all proceeds of, and rights associated with, the foregoing (including Proceeds,
licenses, royalties, income, payments, claims, damages and proceeds of infringement suits).

     “Trademark License” is defined in the definition of “Trademark Collateral.”

     “Trade Secret License” is defined in the definition of “Trade Secrets Collateral.”

     “Trade Secrets” is defined in the definition of “Trade Secrets Collateral.”

     “Trade Secrets Collateral” means with respect to any Grantor all of such Grantor’s
right, title and interest throughout the world in and to (a) all common Law and statutory trade
secrets and all other confidential and proprietary information and know-how (collectively referred
to as “Trade Secrets”) obtained by or used in or contemplated at any time for use in the
business of a Grantor, whether or not such Trade Secret has been reduced to a writing or other
tangible form, including all documents and things embodying, incorporating or referring in any way
to such Trade Secret, (b) all Trade Secret licenses and other agreements for the grant by or to
such Grantor of any right to use any Trade Secret (each a “Trade Secret License”) including
the right to sue for and to enjoin and to collect damages for the actual or threatened
misappropriation of any Trade Secret and for the breach or enforcement of any such Trade Secret
License, and (d) all proceeds of, and rights associated with, the foregoing (including Proceeds,
licenses, royalties, income, payments, claims, damage awards and proceeds of infringement suits).

     “Trustee” is defined in the preamble.

     “UCC” means the Uniform Commercial Code as in effect in the State of New York;
provided that, if perfection or the effect of perfection or non-perfection or the priority
of any security interest in any Collateral is governed by the Uniform Commercial Code as in effect
in a jurisdiction other than the State of New York, “UCC” means the Uniform Commercial Code
as in effect from time to time in such other jurisdiction for purposes of the provisions hereof
relating to such perfection, effect of perfection or non-perfection or priority.

     SECTION 1.2. Indenture Definitions. Unless otherwise defined herein or the
context otherwise requires, terms used in this Security Agreement, including its preamble and
recitals, have the meanings provided in the Indenture.

     SECTION 1.3. UCC Definitions. When used herein the terms “Account”,
“Certificate of Title”, “Certificated Securities”, “Chattel Paper”, “Commercial Tort Claim”,
“Commodity Account”, “Commodity Contract”, “Deposit Account”, “Document”, “Electronic Chattel
Paper”, “Equipment”, “Fixtures”, “Goods”, “Instrument”, “Inventory”, “Investment Property”,
“Letter-of-Credit Rights”,

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“Payment Intangibles”, “Proceeds”, “Promissory Notes”, “Securities Account”, “Security
Entitlement’, “Supporting Obligations” and “Uncertificated Securities” have the meaning provided in
Article 8 or Article 9, as applicable, of the UCC. Letters of Credit has the meaning provided in
Section 5-102 of the UCC.

     SECTION 1.4. Other Definitional Provisions.

          (a) The words “hereof”, “herein”, “hereto” and “hereunder” and words of similar import when
used in this Security Agreement shall refer to this Security Agreement as a whole and not to any
particular provision of this Security Agreement, and Section and Schedule references are to this
Security Agreement unless otherwise specified.

          (b) The meanings given to terms defined herein shall be equally applicable to both the
singular and plural forms of such terms.

ARTICLE II

INTENTIONALLY OMITTED

ARTICLE III

SECURITY INTEREST

     SECTION 3.1. Grant of Security Interest. Each Grantor hereby grants to the
Collateral Agent, for its benefit and the ratable benefit of each other Secured Party, a continuing
security interest in all of such Grantor’s present and after acquired personal property, including
all of such Grantor’s right, title and interest in and to the following property, whether now or
hereafter existing, owned or acquired by such Grantor, and wherever located (collectively, the
“Collateral”):

     (a) Accounts;

     (b) Chattel Paper;

     (c) Commercial Tort Claims listed on Item H of Schedule II
(as such schedule may be amended or supplemented from time to time);

     (d) Deposit Accounts;

     (e) Documents;

     (f) Equipment;

     (g) Fixtures;

     (h) General Intangibles;

     (i) Goods;

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     (j) Instruments;

     (k) Inventory;

     (l) Investment Property;

     (m) Intellectual Property Collateral;

     (n) Letter-of-Credit Rights and Letters of Credit;

     (o) Motor Vehicles;

     (p) Supporting Obligations;

     (q) all books, records, writings, databases, information and other property
relating to, used or useful in connection with, evidencing, embodying, incorporating or
referring to, any of the foregoing in this Section;

     (r) all Proceeds of the foregoing and, to the extent not otherwise included,
(A) all payments under insurance (whether or not the Collateral Agent is the loss payee
thereof) and (B) all tort claims; and

     (s) all other property and rights of every kind and description and interests
therein.

     Notwithstanding the foregoing, the term “Collateral” shall not include, and the grant of a
security interest as provided hereunder shall not extend to:

     (i) such Grantor’s real property interests (including fee real estate
and leasehold interests);

     (ii) any contracts, instruments, licenses or other documents, any
rights thereunder or any assets subject thereto, as to which the grant of a security
interest therein would (A) constitute a violation of a valid and enforceable
restriction in favor of a third party on such grant, unless and until any required
consents shall have been obtained, or (B) give any other party to such contract,
instrument, license or other document the right to terminate its obligations
thereunder, except to the extent that applicable terms in such contract, instrument,
license or other document are ineffective under applicable law;

     (iii) Investment Property consisting of Capital Securities of a
Foreign Subsidiary of such Grantor, in excess of 65% of the total combined voting
power of all Capital Securities of each such Foreign Subsidiary, except that such
65% limitation shall not apply to a Foreign Subsidiary that (x) is treated as a
partnership under the Code or (y) is not treated as an entity that is separate from
(A) such Grantor; (B) any Person that is treated as a partnership under the Code or
(C) any “United States person” (as defined in Section 7701(a)(30) of the Code);

     (iv) any asset, the granting of a security interest in which would be
void or illegal under any applicable governmental law, rule or regulation, or
pursuant thereto would result in, or permit the termination of, such asset;

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     (v) any Newly Acquired Motor Vehicle;

     (vi) any LKE Account and deposit accounts used solely for payroll,
payroll taxes and other employee and benefit plans;

     (vii) any application for Trademarks filed in the United States
Patent and Trademark Office on the basis of any Grantor’s “intent-to-use” such
Trademark pursuant to 15 U.S.C. §1051 Section (b)(1) and for which a form evidencing
use of the mark in interstate commerce has not been filed pursuant to 15 U.S.C.
§1051(c) or (d) to the extent such application or Trademarks would be rendered
invalidated, canceled or abandoned due to the granting or enforcement of such
security interest;

     (viii) Accounts and related assets included as collateral security in
any Qualified Receivables Transaction;

     (ix) Investment Property consisting of Capital Securities of Swift
Academy, LLC and each of its Subsidiaries, if any, any Captive Insurance Company or
any Receivables Subsidiary (provided, that to the extent such Capital Securities of
any Receivables Subsidiary are permitted to be pledged pursuant to the terms of the
applicable Qualified Receivables Transaction, the grant of security interest
hereunder shall extend to such Capital Securities of such Receivables Subsidiary);

     (x) assets (including proceeds thereof) subject to Liens under
purchase money Indebtedness or capital leases permitted under Section 4.09
of the Indenture, to the extent such Indebtedness or capital leases contains a valid
prohibition on using such assets to secure other indebtedness; or

     (xi) any Rule 3-16 Excluded Property.

     SECTION 3.2. Security for Secured Obligations.

     This Security Agreement and the Collateral in which the Collateral Agent for the benefit of
the Secured Parties is granted a security interest hereunder by the Grantors secure the payment and
performance of all of the Secured Obligations.

     SECTION 3.3. Grantors Remain Liable. Anything herein to the contrary
notwithstanding:

     (a) the Grantors will remain liable under the contracts and agreements
included in the Collateral to the extent set forth therein, and will perform all of their
duties and obligations under such contracts and agreements to the same extent as if this
Security Agreement had not been executed;

     (b) the exercise by the Collateral Agent of any of its rights hereunder will
not release any Grantor from any of its duties or obligations under any such contracts or
agreements included in the Collateral; and

     (c) no Secured Party will have any obligation or liability under any
contracts or agreements included in the Collateral by reason of this Security Agreement, nor
will any Secured Party be obligated to perform any of the obligations or duties of any
Grantor thereunder or to take any action to collect or enforce any claim for payment
assigned hereunder.

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     SECTION 3.4. Distributions on Pledged Shares. In the event that any
Distribution with respect to any Capital Securities pledged hereunder is permitted to be paid (in
accordance with Section 4.07 of the Indenture), such Distribution or payment may be paid
directly to the applicable Grantor. If any Distribution is made in contravention of Section
4.07 of the Indenture, such Grantor shall hold the same segregated and in trust for the
Collateral Agent until paid to the Collateral Agent in accordance with Section 5.1.5.

     SECTION 3.5. Security Interest Absolute, etc. This Security Agreement,
shall in all respects be a continuing, absolute, unconditional and irrevocable grant of security
interest, and shall remain in full force and effect until the Termination Date. All rights of the
Secured Parties and the security interests granted to the Collateral Agent (for its benefit and the
ratable benefit of each other Secured Party) hereunder, and all obligations of the Grantors
hereunder, shall, in each case, be absolute, unconditional and irrevocable irrespective of:

     (a) any lack of validity, legality or enforceability of any Note Document,
any of the Company Obligations or any other collateral security therefor or guaranty with
respect thereto;

     (b) the failure of any Secured Party (i) to assert any claim or demand or to
enforce any right or remedy against any Grantor or any other Person (including any other
Grantor) under the provisions of any Note Document or otherwise, or (ii) to exercise any
right or remedy against any other guarantor (including any other Grantor) of, or collateral
securing, any Secured Obligations;

     (c) any change in the time, manner or place of payment of, or in any other
term of, all or any part of the Secured Obligations, or any other extension, compromise or
renewal of any Secured Obligations;

     (d) any reduction, limitation, impairment or termination of any Secured
Obligations for any reason, including any claim of waiver, release, surrender, alteration or
compromise, and shall not be subject to (and each Grantor hereby waives any right to or
claim of) any defense or setoff, counterclaim, recoupment or termination whatsoever by
reason of the invalidity, illegality, nongenuineness, irregularity, compromise,
unenforceability of, or any other event or occurrence affecting, any Secured Obligations or
otherwise;

     (e) any amendment to, rescission, waiver, or other modification of, or any
consent to or departure from, any of the terms of any Note Document;

     (f) any addition, exchange or release of any collateral or of any Person that
is (or will become) a Grantor (including the Grantors hereunder) of the Secured Obligations,
or any surrender or non-perfection of any collateral, or any amendment to or waiver or
release or addition to, or consent to or departure from, any other guaranty held by any
Secured Party securing any of the Secured Obligations; or

     (g) any other circumstance which might otherwise constitute a defense
available to, or a legal or equitable discharge of, any Grantor (other than the defense of
payment in full in cash or performance in full);

     SECTION 3.6. Postponement of Subrogation. Each Grantor agrees that it will
not exercise any rights against another Grantor which it may acquire by way of rights of
subrogation under any Note Document to which it is a party. No Grantor shall seek or be entitled
to seek any contribution or

11

 

reimbursement from any Grantor, in respect of any payment made under any Note Document or
otherwise, until following the Termination Date. Any amount paid to such Grantor on account of any
such subrogation rights prior to the Termination Date shall be held in trust for the benefit of the
Secured Parties and shall immediately be paid and turned over to the Collateral Agent for the
benefit of the Secured Parties in the exact form received by such Grantor (duly endorsed in favor
of the Collateral Agent, if required), to be credited and applied against the Secured Obligations,
whether matured or unmatured, in accordance with Section 7.1; provided that if such
Grantor has made payment to the Secured Parties of all or any part of the Secured Obligations and
the Termination Date has occurred, then at such Grantor’s request, the Collateral Agent (on behalf
of the Secured Parties) will, at the expense of such Grantor, execute and deliver to such Grantor
appropriate documents (without recourse and without representation or warranty) necessary to
evidence the transfer by subrogation to such Grantor of an interest in the Secured Obligations
resulting from such payment. In furtherance of the foregoing, at all times prior to the
Termination Date, such Grantor shall refrain from taking any action or commencing any proceeding
against any other Grantor (or its successors or assigns, whether in connection with a bankruptcy
proceeding or otherwise) to recover any amounts in respect of payments made under this Security
Agreement to any Secured Party.

ARTICLE IV

REPRESENTATIONS AND WARRANTIES

     In order to induce the Trustee to enter into the Indenture and for the Holders to purchase the
Notes, the Grantors represent and warrant to each Secured Party as set forth below.

     SECTION 4.1. As to Capital Securities of the Subsidiaries, Investment
Property.

     (a) With respect to any direct Subsidiary of any Grantor that is

     (i) a corporation, business trust, joint stock company or similar
Person, all Capital Securities issued by such Subsidiary are duly authorized and
validly issued, fully paid and non-assessable, and represented by a certificate; and

     (ii) a partnership or limited liability company, no Capital
Securities issued by such Subsidiary (A) are dealt in or traded on securities
exchanges or in securities markets, (B) expressly provides that such Capital
Securities are securities governed by Article 8 of the UCC or (C) are held in a
Securities Account, except, with respect to this clause (a)(ii), Capital
Securities (x) for which the Collateral Agent is the registered owner or (y) with
respect to which the issuer has agreed in an authenticated record with such Grantor
and the Collateral Agent to comply with any instructions of the Collateral Agent
without the consent of such Grantor if an Event of Default has occurred and is
continuing.

     (b) Subject to the Intercreditor Agreement, each Grantor has delivered all
Certificated Securities constituting Collateral held by such Grantor on the Closing Date to
the Collateral Agent, together with duly executed undated blank stock powers, or other
equivalent instruments of transfer reasonably acceptable to the Collateral Agent.

     (c) Subject to the Intercreditor Agreement, with respect to Uncertificated
Securities constituting Collateral in excess of $100,000 owned by any Grantor, such Grantor
has caused the issuer thereof either to (i) register the Collateral Agent as the registered
owner of such security or

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(ii) agree in an authenticated record with such Grantor and the
Collateral Agent that, if an Event of Default has occurred and is continuing, such issuer
will comply with instructions with respect to such security originated by the Collateral
Agent without further consent of such Grantor.

     (d) The percentage of the issued and outstanding Capital Securities of each
Subsidiary pledged by each Grantor hereunder is as set forth in Item A of
Schedule I.

     (e) Each Grantor is the record and beneficial owner of, and has good and
marketable title to, the Investment Property pledged by it hereunder, free of any and all
Liens or options in favor of, or claims of, any other person, except (i) the security
interest created by this Agreement, (ii) the security interests created in connection with
the Credit Agreement, (iii) with regard to Capital Securities, Liens permitted pursuant to
clauses (1) and (9) of the definition of “Permitted Liens” in the Indenture] and (iv) with
regard to any Collateral other than Capital Securities, any Permitted Liens.

     SECTION 4.2. Grantor Name, Location, etc.

     (a) The jurisdiction in which each Grantor is located for purposes of
Sections 9-301 and 9-307 of the UCC is set forth in Item A of Schedule II.

     (b) The Grantors do not have any trade names other than those set forth in
Item B of Schedule II hereto.

     (c) During the four months preceding the date hereof, no Grantor has been
known by any legal name different from the one set forth on the signature page hereto, nor
has such Grantor been the subject of any merger or other corporate reorganization, except as
set forth in Item C of Schedule II hereto.

     (d) Each Grantor’s federal taxpayer identification number is (and, during the
four months preceding the date hereof, such Grantor has not had a federal taxpayer
identification number different from that) set forth in Item D of Schedule
II hereto.

     (e) No Grantor is a party to any federal, state or local government contract
except as set forth in Item F of Schedule II hereto.

     (f) No Grantor maintains any Deposit Accounts, Securities Accounts or
Commodity Accounts with any Person, in each case, except as set forth on Item E of
Schedule II and clause (vi) of Section 3.1.

     (g) No Grantor is the beneficiary of any letters of credit with a value in
excess of $500,000, except as set forth on Item G of Schedule II.

     (h) No Grantor has Commercial Tort Claims (x) in which a suit has been filed
by such Grantor and (y) where the amount of damages reasonably expected to be claimed
exceeds $1,000,000, except as set forth on Item H of Schedule II.

     (i) Each Grantor’s organizational identification number is set forth in
Item I of Schedule II hereto.

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     (j) The name set forth on the signature page attached hereto is the true and
correct legal name (as defined in the UCC) of each Grantor.

     (k) Subject to Section 5.7(a), each Grantor has obtained a legal,
valid and enforceable consent of each issuer of any Letter of Credit to the assignment of
the Proceeds of such Letter of Credit to the Collateral Agent. No Grantor has consented to,
and is otherwise aware of, any Person (other than the Collateral Agent pursuant hereto and
the collateral agent under the Credit Agreement) having control (within the meaning of
Section 9-104 of the UCC) over, or any other interest in any of such Grantor’s rights in
respect thereof.

     (l) Each LKE Account is utilized solely in connection with the LKE Program.

     SECTION 4.3. Ownership, No Liens, etc. Each Grantor owns its Collateral,
except with respect to Intellectual Property Collateral that is not Owned Intellectual Property
Collateral, free and clear of any Lien, except for any security interest (a) created by this
Security Agreement, (b) subject to clause (c) below, in the case of Collateral other than
the Capital Securities pledged hereunder, that is a Permitted Lien and (c) in the case of Capital
Securities pledged hereunder, Liens permitted pursuant to clauses (1) and (9) of the definition of
“Permitted Liens” in the Indenture. No effective UCC financing statement or other filing similar
in effect covering all or any part of such Collateral is on file in any recording office, except
those filed in favor of the Collateral Agent relating to this Security Agreement, Permitted Liens
(subject to clause (c) above) or as to which a duly authorized termination statement
relating to such UCC financing statement or other instrument has been delivered to the Collateral
Agent on the Closing Date.

     SECTION 4.4. Possession of Inventory, Control; etc.

     (a) Each Grantor has, and agrees that it will maintain, exclusive possession
of its Documents, Instruments, Promissory Notes, Goods, Equipment and Inventory, other than
(i) Equipment and Inventory in transit in the ordinary course of business, (ii) Equipment
and Inventory that is in the possession or control of a warehouseman, bailee agent or other
Person (other than a Person controlled by or under common control with such Grantor) that,
either (x) all such Equipment or Inventory in the possession of such third parties has an
aggregate fair market value of less than $500,000 or (y) all such third parties have been
notified of the security interest created in favor of the Secured Parties pursuant to this
Security Agreement, and have authenticated a record acknowledging the security interest
created in favor of the Secured Parties’ pursuant to this Security Agreement, (iii)
Instruments or Promissory Notes that have been, subject to the Intercreditor Agreement,
delivered to the Collateral Agent pursuant to Section 4.5. In the case of Equipment
or Inventory described in clause (ii) above, no lessor or warehouseman of any
premises or warehouse upon or in which such Equipment or Inventory is located has (i) issued
any warehouse receipt or other receipt in the nature of a warehouse receipt in respect of
any such Equipment or Inventory, (ii) issued any Document for any such Equipment or
Inventory, (iii) received notification of any Person’s security interest (other than the
security interest granted hereunder or under any Permitted Lien) in any such Equipment or
Inventory or (iv) any Lien on any such Equipment or Inventory other than a Permitted Lien.

     (b) Each Grantor is the sole entitlement holder of its Accounts and no other
Person (other than the Collateral Agent pursuant to this Security Agreement or any other
Person with respect to Permitted Liens) has control or possession of, or any other interest
in, any of its Accounts that constitute Collateral or any other securities or property
credited thereto.

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     SECTION 4.5. Negotiable Documents, Instruments and Chattel Paper. Subject
to the Intercreditor Agreement, each Grantor has delivered to the Collateral Agent possession of
all originals of all Documents, Instruments, Promissory Notes, and tangible Chattel Paper with a
value in excess of $500,000 in the aggregate owned or held by such Grantor on the Closing Date,
which Documents, Instruments, Promissory Notes and tangible Chattel Paper are set forth in Item
B of Schedule I.

     SECTION 4.6. Intellectual Property Collateral.

     (a) In respect of the Intellectual Property Collateral, as of the date hereof:

     (i) set forth in Item A of Schedule III hereto is a complete
and accurate list of all issued United States Patents and Patent applications owned
by each Grantor that have been issued by or are pending at the United States Patent
and Trademark Office, and set forth in Item B of Schedule III hereto
is a complete and accurate list, in all material respects, of all written,
exclusive, inbound licenses of any material United States Patent and Patent
application to which any Grantor is a party;

     (ii) set forth in Item A of Schedule IV hereto is a
complete and accurate list of all United States Trademark applications and
registrations owned by each Grantor that are registered, or for which an application
for registration has been made, with the United States Patent and Trademark Office,
and set forth in Item B of Schedule IV hereto is a complete and
accurate list, in all material respects, of all written, exclusive, inbound licenses
of any material United States Trademark application and/or registration to which any
Grantor is a party; and

     (iii) set forth in Item A of Schedule V hereto is a
complete and accurate list of all United States Copyrights applications and
registrations owned by each Grantor that are registered, or for which an application
for registration has been made, with the United States Copyright Office; and set
forth in Item B of Schedule V hereto is a complete and accurate
list, in all material respects, of all written, exclusive, inbound licenses of any
material United States Copyright application and/or registration to which any
Grantor is a party.

     (b) Except as disclosed on Schedule VI, in respect of each Grantor:

     (i) except as could not reasonably be expected to have a Material Adverse
Effect, the Intellectual Property Collateral set forth in Item A of Schedules III
through V of such Grantor, is valid, subsisting, unexpired and enforceable and in
compliance with all legal requirements (including timely payment of all applicable
filing, examination and maintenance fees and timely filing of all applicable
applications and affidavits of working, use and incontestability) and has not been
abandoned or adjudged invalid or unenforceable, in whole or in part;

     (ii) except as could not reasonably be expected to have a Material Adverse
Effect, such Grantor is the sole and exclusive owner of the entire right, title and
interest in and to its Owned Intellectual Property Collateral free of any Liens
(except for the
Permitted Liens), such Grantor has the sole and exclusive right to bring
actions for infringement or misappropriation of its Owned Intellectual Property
Collateral and no written claim has been made to Grantor that such Grantor is or may
be, in conflict with, infringing, misappropriating, diluting, misusing or otherwise
violating any of the Intellectual Property rights of any third party or that
challenges such Grantor’s

15

 

ownership, use, protectability, registerability, validity,
or enforceability of any Owned Intellectual Property Collateral and, to such
Grantor’s knowledge, there is no valid basis for any such claims;

     (iii) except as could not reasonably be expected to have a Material Adverse
Effect, such Grantor has made all necessary filings and recordations, which it, in
its reasonable business judgment, deems advisable to protect its interest in any
Owned Intellectual Property Collateral that is material to the business of such
Grantor, including recordations of all of its interests in the United States
issuances, registrations and applications included in the Patent Collateral, the
Trademark Collateral and the Copyright Collateral in the United States Patent and
Trademark Office and the United States Copyright Office, as appropriate, and has
used legally required statutory notice, as applicable, in connection with its use of
any material, registered Patent, Trademark or Copyright that is included in its
Owned Intellectual Property Collateral;

     (iv) such Grantor has taken commercially reasonable steps intended to safeguard
its material Trade Secrets and to its knowledge (A) none of the material Trade
Secrets of such Grantor have been used, divulged, disclosed or appropriated for the
benefit of any Person other than the Grantor in a manner that is reasonably likely
to jeopardize the value of such Trade Secret to such Grantor’s business; (B) Grantor
has not misappropriated any Trade Secrets of any other Person; and (C) no employee,
independent contractor or agent of such Grantor is in default or breach of any term
of any employment agreement, non-disclosure agreement, assignment of inventions
agreement or similar agreement or contract with respect to the protection,
ownership, development, use or transfer of such Grantor’s Intellectual Property
Collateral;

     (v) no action by such Grantor is currently pending or threatened in writing
which asserts that any third party is infringing, misappropriating, diluting,
misusing or voiding any of its Owned Intellectual Property Collateral and, to such
Grantor’s knowledge, no third party is infringing upon, misappropriating, diluting,
misusing or voiding any of its Owned Intellectual Property Collateral, except as
could not reasonably be excepted to have a Material Adverse Effect;

     (vi) except as could not reasonably be expected to have a Material Adverse
Effect, no settlement or consents, covenants not to sue, nonassertion assurances, or
releases have been entered into by such Grantor or to which such Grantor is bound
that adversely affects its rights to own or use any Intellectual Property
Collateral;

     (vii) except as could not reasonably be expected to have a Material Adverse
Effect, except for the Permitted Liens, such Grantor has not made a previous
assignment, sale, transfer or agreement constituting a present or future assignment,
sale or transfer of any Intellectual Property Collateral for purposes of granting a
security interest or as collateral that has not been terminated or released;

     (viii) such Grantor uses adequate standards of quality in its manufacture,
distribution, and sale of all products sold and in the provision of all services
rendered
under or in connection with any Trademarks owned by such Grantor and has taken
commercially reasonable action necessary to ensure that all licensees of any
Trademarks owned by such Grantor use such adequate standards of quality;

16

 

     (ix) no final holding, decision or judgment has been rendered by any
Governmental Authority which would limit, cancel or question the validity of, or
such Grantor’s right in, any Intellectual Property Collateral, except as could not
reasonably be expected to have a Material Adverse Effect;

     (x) except as could not reasonably be expected to have a Material Adverse
Effect, the consummation of the transactions contemplated by the Indenture and this
Security Agreement will not result in the termination or material impairment of any
of such Grantor’s rights in any of the Intellectual Property Collateral; and

     (xi) to such Grantor’s knowledge, such Grantor owns or otherwise has the right
to use all Intellectual Property Collateral used in or necessary for the conduct of
such Grantor’s business.

     SECTION 4.7. Validity, etc.

     (a) This Security Agreement creates a valid security interest in the
Collateral securing the payment of the Secured Obligations.

     (b) Each Grantor has filed or caused to be filed all UCC-1 financing
statements in the filing office for each Grantor’s jurisdiction of organization listed in
Item A of Schedule II (collectively, the “Filing Statements”)
(or has authenticated and delivered to the Collateral Agent the Filing Statements suitable
for filing in such offices) and has taken, subject to the Intercreditor Agreement, all
other:

     (i) actions necessary to obtain control of the Collateral as provided
in Sections 9-104, 9-105, 9-106 and 9-107 of the UCC (subject to any extensions
permitted by the Collateral Agent in its reasonable discretion); and

     (ii) actions necessary to perfect the Collateral Agent’s security
interest with respect to any Collateral evidenced by a Certificate of Title
including, without limitation, pursuant to Section 4.6.

     (c) Upon the filing of the Filing Statements and the Intellectual Property
Collateral security agreements for all United States Copyrights, Patents and Trademarks
owned, and for all United States Copyrights exclusively licensed, by such Grantor with the
appropriate agencies therefor, the security interests created under this Security Agreement
shall constitute a perfected security interest in the Collateral described on such Filing
Statements and such Intellectual Property Collateral security agreements in favor of the
Collateral Agent on behalf of the Secured Parties to the extent that a security interest
therein may be perfected by filing pursuant to the relevant UCC, the United States Patent
and Trademark Office, and the United States Copyright Office, prior to all other Liens,
except for Permitted Liens that by operation of law or contract have priority over the Liens
securing the Obligations (in which case such security interest shall be junior in priority
of right only to the Permitted Liens until the obligations secured by such Permitted Liens
have been satisfied). Notwithstanding anything to the contrary herein or in any other Note
Document, no Grantor shall be obligated to take any actions to perfect the security
interest granted hereunder in any Intellectual Property Collateral issued, registered,
applied for, or otherwise existing in any jurisdiction outside of the United States.

     (d) Upon satisfaction of the requirements set forth in Section 5.6(c)
with respect to such Collateral evidenced by a Certificate of Title, the security interests
created under this

17

 

Security Agreement shall constitute a perfected security interest in such
Collateral in favor of the Collateral Agent on behalf of the Secured Parties, prior to all
other Liens (other than Permitted Liens that by operation of law or contract have priority
over the Liens securing the Obligations).

     (e) Each Grantor has executed and delivered to the Collateral Agent,
Intellectual Property Collateral security agreements for all United States Copyrights,
Patents and Trademarks owned by such Grantor, including all Copyrights, Patents and
Trademarks on Schedules III, IV and V.

     SECTION 4.8. Authorization, Approval, etc. Subject to the Intercreditor
Agreement, except as have been obtained or made and are in full force and effect, no authorization,
approval or other action by, and no notice to or filing with, any Governmental Authority or any
other third party is required either

     (a) for the grant by the Grantors of the security interest granted hereby or
for the execution, delivery and performance of this Security Agreement by the Grantors;

     (b) for the perfection or maintenance of the security interests hereunder
including the second priority (subject to Permitted Liens) nature of such security interest
(except with respect to the Filing Statements or, with respect to Intellectual Property
Collateral, the recordation of any agreements with the United States Patent and Trademark
Office or the United States Copyright Office or corresponding offices in other countries of
the world, or with respect to Deposit Accounts or Investment Property, the execution of a
Control Agreement, or with respect to any Letter of Credit Rights obtaining the consent of
the issuer thereunder) or the exercise by the Collateral Agent of its rights and remedies
hereunder; or

     (c) for the exercise by the Collateral Agent of the voting or other rights
provided for in this Security Agreement, except (i) with respect to any securities issued by
a Subsidiary of the Grantors, as may be required in connection with a disposition of such
securities by laws affecting the offering and sale of securities generally, the remedies in
respect of the Collateral pursuant to this Security Agreement and (ii) any “change of
control” or similar filings required by state licensing agencies.

     SECTION 4.9. Best Interests. It is in the best interests of each Grantor
to execute this Security Agreement inasmuch as such Grantor will, as a result of being a Subsidiary
or an Affiliate of the Company, derive substantial direct and indirect benefits from the issuance
of the Notes pursuant to the Indenture, and each Grantor agrees that the Secured Parties are
relying on this representation in agreeing to purchase such Notes pursuant to the Indenture from
the Company.

ARTICLE V

COVENANTS

     Each Grantor covenants and agrees that, until the Termination Date, such Grantor will perform,
comply with and be bound by the obligations set forth below.

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     SECTION 5.1. As to Investment Property, etc.

     SECTION 5.1.1. Capital Securities of Subsidiaries. No Grantor will allow
any of its Subsidiaries:

     (a) that is a corporation, business trust, joint stock company or similar
Person, to issue Uncertificated Securities;

     (b) that is a partnership or limited liability company, to (i) issue Capital
Securities that are to be dealt in or traded on securities exchanges or in securities
markets, (ii) expressly provide in its Organization Documents that its Capital Securities are
securities governed by Article 8 of the UCC, or (iii) place such Subsidiary’s Capital
Securities in a Securities Account; and

     (c) to issue Capital Securities in addition to or in substitution for the
Capital Securities pledged hereunder, except to such Grantor (and such Capital Securities
are immediately pledged and delivered to the Collateral Agent pursuant to the terms of this
Security Agreement).

     SECTION 5.1.2. Investment Property (other than Certificated Securities).

     (a) With respect to any Securities Accounts, Commodity Accounts, Commodity Contracts or
Security Entitlements constituting Investment Property (other than LKE Accounts) owned or
held by any Grantor, such Grantor will cause (i) the intermediary maintaining any such
Investment Property with a principal balance in excess of $200,000 or (ii) if the aggregate
principal balance for all such Investment Property exceeds $1,000,000, each intermediary
maintaining any Investment Property, in each case to execute a Control Agreement relating to
such Investment Property pursuant to which such intermediary agrees to comply with the
Collateral Agent’s instructions with respect to such Investment Property without further
consent by such Grantor. Notwithstanding the foregoing, the Collateral Agent agrees that it
shall not give such instructions unless a Event of Default has occurred and is continuing.

     (b) If the aggregate value of all Uncertificated Securities (other than Uncertificated
Securities credited to a Securities Account) owned or held by any Grantor exceeds $200,000,
such Grantor will cause the issuer of such securities to either (i) register the Collateral
Agent as the registered owner thereof on the books and records of the issuer or (ii) execute
a Control Agreement relating to such Investment Property pursuant to which the issuer agrees
to comply with the Collateral Agent’s instructions with respect to such Uncertificated
Securities without further consent by such Grantor.

     SECTION 5.1.3. Certificated Securities (Stock Powers). Each Grantor agrees
that all Certificated Securities, including the Capital Securities delivered by such Grantor
pursuant to this Security Agreement, will be accompanied by duly executed undated blank stock
powers, or other equivalent instruments of transfer reasonably acceptable to the Collateral Agent.

     SECTION 5.1.4. Continuous Pledge. Each Grantor will (subject to the terms
of the Indenture) deliver to the Collateral Agent and at all times keep pledged to the Collateral
Agent pursuant hereto, on a second-priority, perfected basis all Investment Property, all dividends
and Distributions with respect thereto, all Payment Intangibles to the extent they are evidenced by
a Document, Instrument, Promissory Note or Chattel Paper, and all interest and principal with
respect to such Payment Intangibles to the extent
required hereunder, and all Proceeds and rights from time to time received by or distributable
to such

19

 

Grantor in respect of any of the foregoing Collateral. Each Grantor agrees that it will,
promptly following receipt thereof, deliver to the Collateral Agent possession of all originals of
negotiable Documents, Instruments, Promissory Notes and Chattel Paper that it acquires following
the Closing Date to the extent required hereunder.

     SECTION 5.1.5. Voting Rights; Dividends, etc. Each Grantor agrees:

     (a) promptly upon receipt of notice of the occurrence and continuance of an
Event of Default from the Trustee and without any request therefor by the Collateral Agent,
so long as such Event of Default shall continue, to deliver (properly endorsed where
required hereby or requested by the Collateral Agent) to the Collateral Agent all dividends
and Distributions with respect to Investment Property, all interest, principal, other cash
payments on Payment Intangibles, and all Proceeds of the Collateral, in each case thereafter
received by such Grantor, all of which shall be held by the Collateral Agent as additional
Collateral; and

     (b) with respect to Collateral consisting of general partnership interests or
limited liability company interests, to promptly modify its Organization Documents to admit
the Collateral Agent as a general partner or member, as applicable, promptly upon the
occurrence and continuance of an Event of Default and so long as the Collateral Agent has
notified such Grantor of the Collateral Agent’s intention to exercise its voting power under
this clause,

     (i) that the Collateral Agent may exercise (to the exclusion of such
Grantor) the voting power and all other incidental rights of ownership with respect
to any Investment Property constituting Collateral and such Grantor hereby grants
the Collateral Agent an irrevocable proxy, exercisable under such circumstances, to
vote such Investment Property; and

     (ii) to promptly deliver to the Collateral Agent such additional
proxies and other documents as may be necessary to allow the Collateral Agent to
exercise such voting power.

All dividends, Distributions, interest, principal, cash payments, Payment Intangibles and Proceeds
that may at any time and from time to time be held by such Grantor, but which such Grantor is then
obligated to deliver to the Collateral Agent, shall, until delivery to the Collateral Agent, be
held by such Grantor separate and apart from its other property in trust for the Collateral Agent.
The Collateral Agent agrees that unless an Event of Default shall have occurred and be continuing
and the Collateral Agent shall have given the notice referred to in clause (b), such
Grantor will have the exclusive voting power with respect to any Investment Property constituting
Collateral and the Collateral Agent will, upon the written request of such Grantor, promptly
deliver such proxies and other documents, if any, as shall be reasonably requested by such Grantor
which are necessary to allow such Grantor to exercise that voting power; provided that no
vote shall be cast, or consent, waiver, or ratification given, or action taken by such Grantor that
would impair any such Collateral or be inconsistent with or violate any provision of any Note
Document.

     SECTION 5.2. Change of Name, etc. No Grantor will change its name or place
of incorporation or organization or federal taxpayer identification number except upon one (1)
Business Day prior written notice to the Collateral Agent.

     SECTION 5.3. As to Accounts; Collateral Account.

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     (a) Each Grantor shall have the right to collect all Accounts so long as no
Event of Default shall have occurred and be continuing.

     (b) Upon (i) the occurrence and continuance of an Event of Default and (ii)
the delivery of notice by the Collateral Agent to each Grantor, all Proceeds of Collateral
received by such Grantor (including in respect of Accounts) shall be delivered in kind to
the Collateral Agent for deposit in a Deposit Account of such Grantor maintained with the
Collateral Agent or another financial institution reasonably satisfactory to the Collateral
Agent (the “Collateral Account”), and such Grantor shall not commingle any such
Proceeds, and shall hold separate and apart from all other property, all such Proceeds in
express trust for the benefit of the Collateral Agent until delivery thereof is made to the
Collateral Agent.

     (c) Following the delivery of notice pursuant to clause (b)(ii), the
Collateral Agent shall have the right to apply any amount in the Collateral Account to the
payment of any Secured Obligations which are due and payable.

     (d) With respect to each of the Collateral Accounts, it is hereby confirmed
and agreed that (i) deposits in such Collateral Account are subject to a security interest
as contemplated hereby, (ii) such Collateral Account shall be under the control of the
Collateral Agent and (iii) the Collateral Agent shall have the sole right of withdrawal over
such Collateral Account.

     SECTION 5.4. As to Grantors’ Use of Collateral.

     (a) Subject to clause (b), each Grantor (i) may in the ordinary
course of its business, at its own expense, sell, lease or furnish under the contracts of
service any of the Inventory normally held by such Grantor for such purpose, and use and
consume, in the ordinary course of its business, any raw materials, work in process or
materials normally held by such Grantor for such purpose, (ii) will, at its own expense,
endeavor to collect, as and when due, all amounts due with respect to any of the Collateral,
including the taking of such action with respect to such collection as the Collateral Agent
may request following the occurrence of an Event of Default or, in the absence of such
request, as such Grantor may deem advisable, and (iii) may grant, in the ordinary course of
business, to any party obligated on any of the Collateral, any rebate, refund or allowance
to which such party may be lawfully entitled, and may accept, in connection therewith, the
return of Goods, the sale or lease of which shall have given rise to such Collateral.

     (b) At any time following the occurrence and during the continuance of an
Event of Default, whether before or after the maturity of any of the Secured Obligations,
the Collateral Agent may (i) revoke any or all of the rights of each Grantor set forth in
clause (a), (ii) notify any parties obligated on any of the Collateral to make
payment to the Collateral Agent of any amounts due or to become due thereunder and (iii)
enforce collection of any of the Collateral by suit or otherwise and surrender, release, or
exchange all or any part thereof, or compromise or extend or renew for any period (whether
or not longer than the original period) any indebtedness thereunder or evidenced thereby.

     (c) Upon the request of the Collateral Agent following the occurrence and
during the continuance of an Event of Default, each Grantor will, at its own expense, notify
any parties obligated on any of the Collateral to make payment to the Collateral Agent of
any amounts due or to become due thereunder.

21

 

     (d) At any time following the occurrence and during the continuation of an
Event of Default, the Collateral Agent may endorse, in the name of such Grantor, any item,
howsoever received by the Collateral Agent, representing any payment on or other Proceeds of
any of the Collateral.

     SECTION 5.5. As to Intellectual Property Collateral. Each Grantor
covenants and agrees to comply with the following provisions as such provisions relate to any
Intellectual Property Collateral material to the business of such Grantor:

     (a) with respect to its Owned Intellectual Property Collateral, such Grantor
shall not (i) do or knowingly fail to perform any act whereby any of the Patent Collateral
is likely to lapse or become abandoned or dedicated to the public or unenforceable, (ii)
itself or permit any of its licensees to (A) fail to continue to use any of the Trademark
Collateral in order to maintain the Trademark Collateral in full force free from any claim
of abandonment for non-use, (B) fail to maintain at least the quality of products and
services offered under the Trademark Collateral as of the date hereof, (C) fail to employ
the Trademark Collateral registered with any federal or state or foreign authority with an
appropriate notice of such registration to the extent legally required, (D) adopt or use any
other Trademark which is confusingly similar or a colorable imitation of any of the
Trademark Collateral, unless rights in such Trademark Collateral inure solely to Grantor and
do not infringe or weaken the validity or enforceability of any of the Intellectual Property
Collateral or (E) do or knowingly permit any act or knowingly omit to do any act whereby any
of the Trademark Collateral is likely to lapse or become invalid or unenforceable, or (iii)
do or knowingly permit any act or knowingly omit to do any act whereby any of the Copyright
Collateral or any of the Trade Secrets Collateral is likely to lapse or become invalid or
unenforceable or placed in the public domain except upon expiration of the end of an
unrenewable term of a registration thereof, unless, in the case of any of the foregoing
requirements in clauses (i), (ii) and (iii), the lapse, abandonment,
failure to maintain quality, invalidation or unenforceability in respect of any item of such
Owned Intellectual Property Collateral (individually and collectively, “Abandonment” or
“Abandoned”) could not reasonably be expected to have a Material Adverse Effect;

     (b) such Grantor shall promptly notify the Collateral Agent if it knows, or
has reason to know, that any application or registration relating to any material item of
the Intellectual Property Collateral is likely to become Abandoned, dedicated to the public
or placed in the public domain or deemed invalid or unenforceable, or of any materially
adverse determination or development (including any such determination or development in,
any proceeding in the United States Patent and Trademark Office, the United States Copyright
Office or any foreign counterpart thereof or any court) regarding such Grantor’s ownership
of any such Intellectual Property Collateral, its right to register the same or to keep and
maintain and enforce the same, unless such Abandonment, determination or development could
not reasonably be expected to have a Material Adverse Effect;

     (c) such Grantor shall (i) within ninety (90) days of such Grantor or any of
its agents on its behalf, employees on its behalf, or designees on its behalf filing an
application for the registration of any Patent or Trademark with the United States Patent
and Trademark Office or obtaining an ownership interest in any United States Patent or
Trademark application or registration or (ii) within thirty (30) days of such Grantor or any
of its agents on its behalf, employees on its behalf, or designees on its behalf filing an
application for the registration of any Copyright at the United States Copyright Office or
obtaining an ownership interest in, or becoming an exclusive licensee of any material United
States Patent, Trademark or Copyright
application or registration pursuant to a written agreement, inform the Collateral
Agent, and

22

 

Schedule VII (as such Schedule may be amended from time to time by the
Grantors) (any such office a “Motor Vehicle Title Office”), and only the
employees listed on promptly execute and deliver an Intellectual Property Security Agreement
substantially in the form set forth as Exhibits A, B or C hereto as
applicable and any such other documents as the Administrative Agent may reasonably request
to evidence the Collateral Agent’s security interest in such Owned Intellectual Property
Collateral; and

     (d) such Grantor shall take all commercially reasonable steps, including in
any proceeding before the United States Patent and Trademark Office and the United States
Copyright Office, to maintain and pursue any application (and to obtain the relevant
registration) filed with respect to, and to maintain any registration of its Owned
Intellectual Property Collateral, including the filing of applications for renewal,
affidavits of use, affidavits of incontestability and opposition, interference and
cancellation proceedings and the payment of fees and taxes (except to the extent that
Abandonment is permitted under the foregoing clause (a) or (b)).

     SECTION 5.6. As to Motor Vehicles. Each Grantor covenants and agrees to
comply with the following provisions as such provisions relate to any Motor Vehicles (other any
Non-Fleet Type Motor Vehicle) of such Grantor:

     (a) (i)(A) In the case of such Motor Vehicles owned by any Grantor on the
Closing Date, within thirty (30) days after the Closing Date (or such later dates from time
to time as the Administrative Agent may consent to in its discretion) and (B) in the case of
such Motor Vehicles acquired by any Grantor following the Closing Date, (I) within 45 days
after the end of the first three Fiscal Quarters of each Fiscal Year, and (II) within 90
days after the end of the fourth Fiscal Quarter of each Fiscal Year, in each case the
Grantors shall deliver to the Collateral Agent a list of (x) all Motor Vehicles which
constitute Collateral, (y) all Newly Acquired Motor Vehicles, the purchase date thereof and,
if applicable, the Newly Acquired Motor Vehicle Financing in respect thereof, and (z) all
Motor Vehicles that were previously designated Newly Acquired Motor Vehicles and are no
longer designated as such, which lists shall be in form and substance satisfactory to the
Collateral Agent and shall include schedules setting forth the depreciated value of each
such Motor Vehicle which constitutes Collateral; (ii) upon the Collateral Agent’s reasonable
request at any time or times on or after the occurrence and continuance of an Event of
Default, each Grantor shall, at its expense, deliver or cause to be delivered to the
Collateral Agent written appraisals as to Motor Vehicles that constitute Collateral in form,
scope and methodology reasonably acceptable to the Collateral Agent and by an appraiser
acceptable to the Collateral Agent, addressed to the Collateral Agent and upon which the
Collateral Agent is expressly permitted to rely; (iii) each such Motor Vehicle that
constitutes Collateral is and shall be used in each Grantor’s business and not for personal,
family, household or farming use; and (iv) as between the Collateral Agent and such Grantor,
the Grantor assumes all responsibility and liability arising from the use of Motor Vehicles
that constitute Collateral.

     (b) (i) Pursuant to a grant of authority by the Collateral Agent, such
Grantor shall hold and retain in trust for the Collateral Agent, physical possession of the
original Certificates of Title (or similar instruments) relating to each Motor Vehicle that
constitutes Collateral owned by such Grantor for so long as such Motor Vehicle shall be so
owned (it being understood and agreed that no Grantor shall be required to physically
possess a Certificate of Title for any Motor Vehicle registered in a jurisdiction which has
enacted an electronic lien recording or transfer process that prevents or does not
contemplate issuance of a physical Certificate of Title), (ii) to the extent a physical
Certificate of Title is issued, such Grantor shall hold all such original Certificates of
Title under lock and key, in a safe, fireproof location at the office(s) designated by the
Company on

23

 

Schedule VII shall have access to such Motor Vehicle Title
Offices (as such Schedule may be amended from time to time by the Grantors), (iii) (A)
within thirty (30) days following the Issue Date (or such later dates from time to time as
are consented to by the Collateral Agent in its discretion, provided that the Collateral
Agent shall be deemed to have consented if the collateral agent for the Credit Agreement has
consented to such extension under the comparable provision of the first lien security
agreement) for any such Motor Vehicle owned on the Closing Date by such Grantor (other than
any Newly Acquired Motor Vehicle) and (B) promptly after the acquisition of any Motor
Vehicle (other than any Newly Acquired Motor Vehicle) by such Grantor or any Newly Acquired
Motor Vehicle of such Grantor ceasing to be a Newly Acquired Motor Vehicle (but in no event
later than twenty (20) business days after such acquisition or cessation, such Grantor
shall, in each case (x) cause the recordation or notation of the Collateral Agent’s security
interest either on the Certificates of Title or otherwise pursuant to the applicable
jurisdiction’s electronic lien recording process in respect of each such Motor Vehicle and
(y) take such other action as the Collateral Agent or the Motor Vehicle Monitor shall deem
appropriate to perfect the security interest created hereunder in all such Motor Vehicles
and deliver such other satisfactory evidence thereof as the Collateral Agent or the Motor
Vehicle Monitor may request. For the avoidance of doubt, any Newly Acquired Motor Vehicle
that ceases to be a Newly Acquired Motor Vehicle pursuant to the definition thereof shall
become Collateral and such Grantor shall take all steps to cause the recordation or notation
of the Collateral Agent’s security interest in such Collateral in accordance with this
Section 5.6.

     (c) (i) such Grantor shall, at reasonable times during normal business hours
and upon two Business Days’ notice to Parent, provide access to the Motor Vehicle Title
Offices to the Motor Vehicle Monitor to allow the Motor Vehicle Monitor (A) to examine (and
photocopy or otherwise image) the original Certificates of Title with respect to Motor
Vehicles that are Collateral held by such Grantor, and any documents related thereto, and
(B) to assess the standard of care used by the Grantors in holding such original
Certificates of Title and taking actions to perfect the security interest created hereunder
(it being understood that, so long as no Event of Default has occurred, such examinations
and assessments shall take place no more than four times per calendar year) and (ii) such
Grantor shall otherwise assist, and cooperate with, the Motor Vehicle Monitor in the
performance of its activities in its capacity as the Motor Vehicle Monitor (including
providing any information reasonably requested by the Motor Vehicle Monitor in its capacity
as such).

     (d) Pursuant to a power of attorney granted by the Collateral Agent,
designated employees of the Grantors shall have the authorization to act as agents and
attorneys-in-fact for and on behalf of the Collateral Agent to make, execute and deliver any
and all Certificate of Title(s), Transfer of Ownership and other release documents necessary
to terminate the Collateral Agent’s liens, rights, title and interest in and to Motor
Vehicles that are Collateral; provided that the use of such power of attorney by
such designated employees shall only be permitted (and any use of such power of attorney not
permitted hereby shall be a breach of this Agreement) if such use is permitted by the terms
of such power of attorney and (i) the Secured Obligations have been fully satisfied, (ii)
the Indenture or other Note Documents expressly authorize such a release in the ordinary
course of such Grantor’s business, or (iii) such Grantor has received the Collateral Agent’s
express approval in writing that such termination is authorized.

     (e) Upon any breach of any of Sections 5.6(a) through (d) or
after the occurrence and during the continuance of an Event of Default, the Collateral Agent
may, (i) terminate the authorization of the Grantors to hold physical possession of any
physically-issued original Certificates of Title with respect to Motor Vehicles that are
Collateral by giving the Company
written notice thereof, and, with five Business Days of such termination, each Grantor
must deliver

24

 

all such physically-issued original Certificates of Title to the Collateral
Agent (or a sub-agent thereof designated by the Collateral Agent)and (ii) revoke the power
of attorney described in Section 5.6(d) by giving the Company written notice
thereof.

     (f) Without limiting Section 6.1, at any time after a breach of any
of Sections 5.6(a) through (d) or after the occurrence of an Event of
Default, each Grantor hereby irrevocably appoints the Collateral Agent (and any of its
sub-agents) as its attorney-in-fact, with full authority in the place and stead of such
Grantor and in the name of such Grantor or otherwise, for the purpose of (i) executing on
behalf of such Grantor title or ownership applications for filing with appropriate state
agencies to enable Motor Vehicles constituting Collateral now owned or hereafter acquired by
such Grantor to be retitled and the Collateral Agent listed as lienholder thereon, (ii)
filing such applications with such state agencies and (iii) executing such other documents
and instruments on behalf of, and taking such other action in the name of, such Grantor as
the Collateral Agent may deem necessary or advisable to accomplish the purposes hereof
(including, without limitation, the purpose of creating in favor of the Collateral Agent a
first priority (subject to Permitted Liens that by operation of law or contract have
priority over the Liens securing the Obligations) perfected lien on the Motor Vehicles
constituting Collateral and exercising the rights and remedies of the Collateral Agent under
Section 7.1). Each Grantor hereby acknowledges, consents and agrees that the power
of attorney granted pursuant to this Section is irrevocable and coupled with an interest.

     SECTION 5.7. As to Letter-of-Credit Rights.

     (a) Each Grantor, by granting a security interest in its Letter-of-Credit Rights to the
Collateral Agent, intends to (and hereby does) collaterally assign to the Collateral Agent
its rights (including its contingent rights ) to the Proceeds of all Letter-of-Credit Rights
of which it is or hereafter becomes a beneficiary or assignee. Such Grantor will promptly
use its commercially reasonable best efforts to cause the issuer of each Letter of Credit
and each nominated person (if any) with respect thereto to consent to such assignment of the
Proceeds thereof in a consent agreement in form and substance satisfactory to the Collateral
Agent and deliver written evidence of such consent to the Collateral Agent.

     (b) Upon the occurrence of an Event of Default, such Grantor will, promptly upon
request by the Collateral Agent, (i) notify (and such Grantor hereby authorizes the
Collateral Agent to notify) the issuer and each nominated person with respect to each of the
Letters of Credit that the Proceeds thereof have been assigned to the Collateral Agent
hereunder and any payments due or to become due in respect thereof are to be made directly
to the Collateral Agent and (ii) arrange for the Collateral Agent to become the transferee
beneficiary Letter of Credit.

     SECTION 5.8. As to Commercial Tort Claims. If any Grantor shall obtain an
interest in any Commercial Tort Claim with a potential value in excess of $1,000,000, such Grantor
shall within thirty (30) days of obtaining such interest sign and deliver documentation acceptable
to the Administrative Agent granting a security interest under the terms and provisions of this
Agreement in and to such Commercial Tort Claim.

     SECTION 5.9. [Reserved]

     SECTION 5.10. Further Assurances, etc. Each Grantor agrees that, from time
to time at its own expense, it will promptly execute and deliver all further instruments and
documents, and take all further action, that may be necessary or that the Collateral Agent may
reasonably request, in order to
perfect, preserve and protect any security interest granted or purported to be granted hereby
or to enable

25

 

the Collateral Agent to exercise and enforce its rights and remedies hereunder with
respect to any Collateral (except, with respect to Intellectual Property Collateral, the parties
acknowledge that the obligation with respect to perfection shall apply only to the United States).
Without limiting the generality of the foregoing, such Grantor will

     (a) from time to time upon the reasonable request of the Collateral Agent,
(i) promptly deliver to the Collateral Agent such stock powers, instruments and similar
documents, reasonably satisfactory in form and substance to the Collateral Agent, with
respect to such Collateral as the Collateral Agent may request and (ii) after the occurrence
and during the continuance of any Event of Default, promptly transfer any securities
constituting Collateral into the name of any nominee designated by the Collateral Agent if
any Collateral shall be evidenced by an Instrument, negotiable Document, Promissory Note or
tangible Chattel Paper, deliver and pledge to the Collateral Agent hereunder such
Instrument, negotiable Document, Promissory Note or tangible Chattel Paper duly endorsed and
accompanied by duly executed instruments of transfer or assignment, all in form and
substance satisfactory to the Collateral Agent;

     (b) file (and hereby authorizes the Collateral Agent to file) such Filing
Statements or continuation statements, or amendments thereto, and such other instruments or
notices (including any assignment of claim form under or pursuant to the federal assignment
of claims statute, 31 U.S.C. § 3726, any successor or amended version thereof or any
regulation promulgated under or pursuant to any version thereof), as the Collateral Agent
may reasonably request in order to perfect and preserve the security interests and other
rights granted or purported to be granted to the Collateral Agent hereby;

     (c) deliver to the Collateral Agent and at all times keep pledged to the
Collateral Agent pursuant hereto, on a second-priority, perfected basis, at the request of
the Collateral Agent, all Investment Property constituting Collateral, all dividends and
Distributions (but, in the case of cash dividends and Distributions, only in the case of the
occurrence and continuance of an Event of Default) with respect thereto, and all interest
and principal with respect to Promissory Notes (but, in the case of such interests and
principal paid in cash, only in the case of the occurrence and continuance of an Event of
Default), and all Proceeds and rights from time to time received by or distributable to such
Grantor in respect of any of the foregoing Collateral to the extent required hereunder;

     (d) [Reserved]

     (e) not take or omit to take any action the taking or the omission of which
would result in any impairment or alteration of any obligation of the maker of any Payment
Intangible or other Instrument constituting Collateral, except as provided in Section
5.4;

     (f) not create any tangible Chattel Paper with a value in excess of $500,000
without placing a legend on such tangible Chattel Paper reasonably acceptable to the
Collateral Agent indicating that the Collateral Agent has a security interest in such
Chattel Paper;

     (g) furnish to the Collateral Agent, from time to time at the Collateral
Agent’s reasonable request, statements and schedules further identifying and describing the
Collateral and such other reports in connection with the Collateral as the Collateral Agent
may request, all in reasonable detail; and

     (h) to the extent required under this Agreement, do all things reasonably
requested by the Collateral Agent in accordance with this Security Agreement in order to
enable the

26

 

Collateral Agent to have and maintain control over the Collateral consisting of
Motor Vehicles, Investment Property, Deposit Accounts, Letter-of-Credit-Rights and
Electronic Chattel Paper.

     With respect to the foregoing and the grant of the security interest hereunder, each Grantor
hereby authorizes the Collateral Agent to file one or more financing or continuation statements,
and amendments thereto, relative to all or any part of the Collateral in any jurisdiction and with
any filing officers as the Collateral Agent may deem necessary or advisable and to make all
relevant filings with the United States Patent and Trademark Office and the United States Copyright
Office in respect of the United States Owned Intellectual Property Collateral. Each Grantor hereby
authorizes the Collateral Agent to file financing statements describing as the collateral covered
thereby “all of the debtor’s personal property or assets now existing or hereafter acquired” or
words to that effect, notwithstanding that such wording may be broader in scope than the Collateral
described in this Security Agreement.

     SECTION 5.11. Deposit Accounts. (a) No Grantor shall establish or
maintain, any demand, time, savings, passbook or similar account, except for such accounts
maintained with a bank (as defined in Section 9-102 of the UCC) whose jurisdiction (determined in
accordance with Section 9-304 of the UCC) is within a State of the United States. For each Deposit
Account (other than (i) the LKE Accounts utilized in connection with the LKE Program, (ii) any
other Deposit Account used solely for payroll, payroll taxes, and other employee wage and benefit
payments, (iii) any Deposit Account that either (I) a Control Agreement complying with the
requirements set forth below in this Section 5.11 is executed and delivered to the
Collateral Agent on or before thirty (30) days after the Closing Date (or such later dates from
time to time as the Collateral Agent may consent to in its discretion) or (II) is closed on or
before thirty (30) days after the Closing Date (or such later dates from time to time as the
Collateral Agent may consent to in its discretion) and (iv) any other Deposit Accounts maintained
by any Grantor so long as the principal balance in (x) any single Deposit Account does not exceed
$100,000 at any time and (y) all such Deposit Accounts does not exceed $500,000 in the aggregate at
any time), the respective Grantor shall cause the bank with which the Deposit Account is maintained
to execute and deliver to the Collateral Agent, on or before the Closing Date or, with respect to
any Deposit Account established after the Closing Date, at the time of the establishment of the
respective Deposit Account, a Control Agreement in form and substance reasonably satisfactory to
the Collateral Agent pursuant to which such bank agrees to comply with the Collateral Agent’s
instructions with respect to such Deposit Account without further consent by such Grantor.
Notwithstanding the foregoing, the Collateral Agent agrees that it shall not give such instructions
unless an Event of Default has occurred and is continuing. If any bank with which such a Deposit
Account is maintained refuses to, or does not, enter into such a Control Agreement, then the
respective Grantor shall promptly (and in any event prior to thirty (30) days after the Closing
Date (or such later dates from time to time as the Collateral Agent may consent to in its
discretion or, with respect to any Deposit Account established after the Closing Date, thirty (30)
days after the establishment of such account (or such later dates from time to time as the
Collateral Agent may consent to in its discretion) close the respective Deposit Account and
transfer all balances therein to the Collateral Account or another Deposit Account meeting the
requirements of this Section 5.11.

     (b) After the date of this Agreement, no Grantor shall establish any new
demand, time, savings, passbook or similar account, except for Deposit Accounts established
and maintained with banks and meeting the requirements of preceding clause (a). At the time
any such Deposit Account is established, the appropriate Control Agreement shall be entered
into in accordance with the requirements of preceding clause (a) and the respective Grantor
shall furnish to the Collateral Agent a supplement to Item F of Schedule II
hereto containing the relevant information with respect to the respective Deposit Account
and the bank with which same is established.

27

 

     SECTION 5.12. As to IEL Notes. The Grantors shall provide a written
statement to the Collateral Agent at the end of each Fiscal Quarter setting forth the aggregate
outstanding amount under the IEL Notes and at any time that the aggregate outstanding amount under
the IEL Notes exceeds $6,000,000, at the request of the Collateral Agent, the Grantors shall
deliver originals of such IEL Notes to the Collateral Agent in an aggregate outstanding amount
equal to at least the amount of such excess.

     SECTION 5.13. LKE Accounts. Each Grantor agrees that all LKE Accounts will
be utilized solely in connection with the LKE Program.

ARTICLE VI

THE COLLATERAL AGENT

     SECTION 6.1. Collateral Agent Appointed Attorney-in-Fact. Each Grantor
hereby irrevocably appoints the Collateral Agent its attorney-in-fact, with full authority in the
place and stead of such Grantor and in the name of such Grantor or otherwise, from time to time in
the Collateral Agent’s discretion, following the occurrence and during the continuance of an Event
of Default, to take any action and to execute any instrument which the Collateral Agent may deem
necessary or advisable to accomplish the purposes of this Security Agreement, including:

     (a) to ask, demand, collect, sue for, recover, compromise, receive and give
acquittance and receipts for moneys due and to become due under or in respect of any of the
Collateral;

     (b) to receive, endorse, and collect any drafts or other Instruments,
Documents and Chattel Paper, in connection with clause (a) above;

     (c) to file any claims or take any action or institute any proceedings which
the Collateral Agent may deem necessary or desirable for the collection of any of the
Collateral or otherwise to enforce the rights of the Collateral Agent with respect to any of
the Collateral; and

     (d) to perform the affirmative obligations of such Grantor hereunder.

Each Grantor hereby acknowledges, consents and agrees that the power of attorney granted pursuant
to this Section is irrevocable and coupled with an interest until the Termination Date.

     SECTION 6.2. Collateral Agent May Perform. If any Grantor fails to perform
any agreement contained herein, the Collateral Agent may, after requesting in writing that the
Grantor perform such agreement, and subject to any applicable cure period, itself perform, or cause
performance of, such agreement, and the reasonable out-of-pocket expenses of the Collateral Agent
incurred in connection therewith shall be payable by such Grantor pursuant to Section 10.02
of the Indenture.

     SECTION 6.3. Collateral Agent Has No Duty. The powers conferred on the
Collateral Agent hereunder are solely to protect its interest (on behalf of the Secured Parties) in
the Collateral and shall not impose any duty on it to exercise any such powers. Except for
reasonable care of any Collateral in its possession and the accounting for moneys actually received
by it hereunder, the Collateral Agent shall have no duty as to any Collateral or responsibility for

28

 

     (a) ascertaining or taking action with respect to calls, conversions,
exchanges, maturities, tenders or other matters relative to any Investment Property, whether
or not the Collateral Agent has or is deemed to have knowledge of such matters, or

     (b) taking any necessary steps to preserve rights against prior parties or
any other rights pertaining to any Collateral.

ARTICLE VII

REMEDIES

     SECTION 7.1. Certain Remedies. If any Event of Default shall have occurred
and be continuing:

     (a) The Collateral Agent may exercise in respect of the Collateral, in
addition to other rights and remedies provided for herein or otherwise available to it, all
the rights and remedies of a Secured Party on default under the UCC (whether or not the UCC
applies to the affected Collateral) and also may

     (i) take possession of any Collateral not already in its possession
without demand and without legal process;

     (ii) require each Grantor to, and each Grantor hereby agrees that it
will, at its expense and upon request of the Collateral Agent forthwith, assemble
all or part of the Collateral as directed by the Collateral Agent and make it
available to the Collateral Agent at a place to be designated by the Collateral
Agent that is reasonably convenient to both parties;

     (iii) enter onto the property where any Collateral is located and
take possession thereof without demand and without legal process; and

     (iv) without notice except as specified below, lease, license, sell
or otherwise dispose of the Collateral or any part thereof in one or more parcels at
public or private sale, at any of the Collateral Agent’s offices or elsewhere, for
cash, on credit or for future delivery, and upon such other terms as the Collateral
Agent may deem commercially reasonable. Each Grantor agrees that, to the extent
notice of sale shall be required by law, at least ten (10) days’ prior notice to
such Grantor of the time and place of any public sale or the time after which any
private sale is to be made shall constitute reasonable notification. The Collateral
Agent shall not be obligated to make any sale of Collateral regardless of notice of
sale having been given. The Collateral Agent may adjourn any public or private sale
from time to time by announcement at the time and place fixed therefor, and such
sale may, without further notice, be made at the time and place to which it was so
adjourned.

     (b) All cash Proceeds received by the Collateral Agent in respect of any sale
of, collection from, or other realization upon, all or any part of the Collateral shall be
applied by the Collateral Agent against, all or any part of the Secured Obligations as set
forth in Section 6.10 of the Indenture.

     (c) The Collateral Agent may:

29

 

     (i) transfer all or any part of the Collateral into the name of the
Collateral Agent or its nominee, with or without disclosing that such Collateral is
subject to the Lien hereunder;

     (ii) notify the parties obligated on any of the Collateral to make
payment to the Collateral Agent of any amount due or to become due thereunder;

     (iii) withdraw, or cause or direct the withdrawal, of all funds with
respect to the Collateral Account;

     (iv) enforce collection of any of the Collateral by suit or
otherwise, and surrender, release or exchange all or any part thereof, or compromise
or extend or renew for any period (whether or not longer than the original period)
any obligations of any nature of any party with respect thereto;

     (v) endorse any checks, drafts, or other writings in any Grantor’s
name to allow collection of the Collateral;

     (vi) take control of any Proceeds of the Collateral; and

     (vii) execute (in the name, place and stead of any Grantor)
endorsements, assignments, stock powers and other instruments of conveyance or
transfer with respect to all or any of the Collateral.

     (d) Without limiting the foregoing, in respect of the Intellectual Property
Collateral:

     (i) upon the request of the Collateral Agent, each Grantor shall
execute and deliver to the Collateral Agent an assignment or assignments of its
Intellectual Property Collateral, subject (in the case of any Trademark Licenses,
Copyright Licenses, Patent Licenses, and Trade Secret Licenses) to any valid and
enforceable requirements to obtain consents from any third parties, and such other
documents as are necessary or appropriate to carry out the intent and purposes
hereof;

     (ii) each Grantor agrees that the Collateral Agent may file
applications and maintain registrations for the protection of such Grantor’s Owned
Intellectual Property Collateral and/or bring suit in the name of such Grantor, the
Collateral Agent or any Secured Party to enforce such Grantor’s rights in the
Intellectual Property Collateral and any licenses thereunder and, upon the request
of the Collateral Agent, each Grantor shall use commercially reasonable efforts to
assist with such filing or enforcement (including the execution of relevant
documents); and

     (iii) in the event that the Collateral Agent elects not to make any
filing or bring any suit as set forth in clause (ii), each Grantor shall, upon the
request of the Collateral Agent, use all commercially reasonable efforts, whether
through making appropriate filings or bringing suit or otherwise, to protect,
enforce and prevent the infringement, misappropriation, dilution, unauthorized use
or other violation of its Intellectual Property Collateral.

     Notwithstanding the foregoing provisions of this Section 7.1, for the purposes of this
Section 7.1, “Collateral” and “Intellectual Property Collateral” shall include any “intent
to use” trademark application

30

 

only to the extent (i) that the business of such Grantor, or portion
thereof, to which that mark pertains is also included in the Collateral and (ii) that such business
is ongoing and existing and (iii) that the grant or exercise of the rights in Section 7.1
does not impair the validity of such trademark application or cause its abandonment or
cancellation.

     SECTION 7.2. [Reserved]

     SECTION 7.3. Compliance with Restrictions. Each Grantor agrees that in any
sale of any of the Collateral whenever an Event of Default shall have occurred and be continuing,
the Collateral Agent is hereby authorized to comply with any limitation or restriction in
connection with such sale as it may be advised by counsel is necessary in order to avoid any
violation of applicable law (including compliance with such procedures as may restrict the number
of prospective bidders and purchasers, require that such prospective bidders and purchasers have
certain qualifications, and restrict such prospective bidders and purchasers to Persons who will
represent and agree that they are purchasing for their own account for investment and not with a
view to the distribution or resale of such Collateral), or in order to obtain any required approval
of the sale or of the purchaser by any Governmental Authority or official, and such Grantor further
agrees that such compliance shall not result in such sale being considered or deemed not to have
been made in a commercially reasonable manner, nor shall the Collateral Agent be liable nor
accountable to such Grantor for any discount allowed by the reason of the fact that such Collateral
is sold in compliance with any such limitation or restriction.

     SECTION 7.4. Protection of Collateral. The Collateral Agent may from time
to time, at its option, perform any act which any Grantor fails to perform after being requested in
writing so to perform and which Grantor is required to so perform hereunder (except, with respect
to Intellectual Property Collateral, only as such failure to perform could reasonably be expected,
in Collateral Agent’s discretion, to have a Material Adverse Effect) (it being understood that no
such request need be given after the occurrence and during the continuance of an Event of Default)
and the Collateral Agent may from time to time take any other action which the Collateral Agent
deems necessary for the maintenance, preservation or protection of any of the Collateral or of its
security interest therein subject to the other terms of this Security Agreement and the Credit
Agreement.

     SECTION 7.5. Application of Proceeds. If an Event of Default shall have
occurred and be continuing, at any time at the election of the Collateral Agent, the Collateral
Agent may apply all or any part of Proceeds constituting Collateral, whether or not held in any
Collateral Account, in payment of the Secured Obligations in accordance with the order of priority
as set forth in Section 6.10 of the Indenture.

ARTICLE VIII

MISCELLANEOUS PROVISIONS

     SECTION 8.1. Security Document. This Security Agreement is a Security
Document executed pursuant to the Indenture and shall (unless otherwise expressly indicated herein)
be construed, administered and applied in accordance with the terms and provisions thereof,
including Section 10.01 thereof.

     SECTION 8.2. Binding on Successors, Transferees and Assigns; Assignment. This
Security Agreement shall remain in full force and effect until the Termination Date has occurred,
shall be binding upon the Grantors and their successors, transferees and assigns and shall
inure to the benefit of and be enforceable by each Secured Party and its successors, transferees
and assigns; provided that no Grantor

31

 

may (unless otherwise permitted under the terms of the Indenture or this Security
Agreement) assign any of its obligations hereunder without the prior written consent of the
Collateral Agent.

     SECTION 8.3. Amendments, etc. No amendment to or waiver of any provision
of this Security Agreement, nor consent to any departure by any Grantor from its obligations under
this Security Agreement, shall in any event be effective unless the same shall be in writing and
signed by the Collateral Agent (on behalf of the Secured Parties, pursuant to Article 9 of
the Indenture) and the Grantors, or such amendment is in accordance with the Intercreditor
Agreement, and then such waiver or consent shall be effective only in the specific instance and for
the specific purpose for which given.

     SECTION 8.4. Notices. All notices and other communications provided for
hereunder shall be in writing or by facsimile and addressed, delivered or transmitted to the
appropriate party at the address or facsimile number of such party specified in the Indenture or at
such other address or facsimile number as may be designated by such party in a notice to the other
party. Any notice or other communication, if mailed and properly addressed with postage prepaid or
if properly addressed and sent by pre-paid courier service, shall be deemed given when received;
any such notice or other communication, if transmitted by facsimile, shall be deemed given when
transmitted and electronically confirmed.

     SECTION 8.5. Enforcement Expenses; Indemnification.

     (a) Each Grantor agrees to pay, and to save the Collateral Agent harmless from, any and
all liabilities with respect to, or resulting from any delay in paying, any and all stamp,
excise, sales or other taxes which may be payable or determined to be payable with respect
to any of the Collateral or in connection with any of the transactions contemplated by this
Agreement.

     (b) Each Grantor agrees to pay, and to save the Collateral Agent harmless from, any and
all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs,
expenses or disbursements of any kind or nature whatsoever with respect to the execution,
delivery, enforcement, performance and administration of this Agreement to the extent it
would be required to do so for the Trustee with respect to the Indenture pursuant to
Section 7.07 of the Indenture.

     (c) The agreements in this Section 8.5 shall survive repayment of the Secured
Obligations and all other amounts payable under the Notes, the Indenture and the other Note
Documents.

     SECTION 8.6. Release of Liens. Collateral shall be released from the Liens
created by this Agreement to the extent provided in Section 10.04 of the Indenture. Upon
any such release of Collateral, the Collateral Agent will, at the Grantors’ sole expense, deliver
to the Grantors, without any representations, warranties or recourse of any kind whatsoever, all
Collateral held by the Collateral Agent hereunder, and execute and deliver to the Grantors such
documents as the Grantors shall reasonably request to evidence such release.

     SECTION 8.7. Additional Grantors. Upon the execution and delivery by any
other Person of a supplement in the form of Annex I hereto, such Person shall become a
“Grantor” hereunder with the same force and effect as if it were originally a party to this
Security Agreement and named as a “Grantor” hereunder. The execution and delivery of such
supplement shall not require the consent of any other Grantor hereunder, and the rights and
obligations of each Grantor hereunder shall remain in full force and effect notwithstanding the
addition of any new Grantor as a party to this Security Agreement.

     SECTION 8.8. No Waiver; Remedies. In addition to, and not in limitation of
Section 3.5, no failure on the part of any Secured Party to exercise, and no delay in
exercising, any right hereunder shall

32

 

operate as a waiver thereof, nor shall any single or partial exercise of any right hereunder
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 8.9. Headings. The various headings of this Security Agreement are
inserted for convenience only and shall not affect the meaning or interpretation of this Security
Agreement or any provisions thereof.

     SECTION 8.10. Severability. Any provision of this Security Agreement which
is prohibited or unenforceable in any jurisdiction shall, as to such provision and such
jurisdiction, be ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions of this Security Agreement or affecting the validity or
enforceability of such provision in any other jurisdiction.

     SECTION 8.11. Governing Law, Entire Agreement, etc. THIS AGREEMENT SHALL
BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. This Security
Agreement and the other Note Documents constitute the entire understanding among the parties hereto
with respect to the subject matter hereof and thereof and supersede any prior agreements, written
or oral, with respect thereto.

     SECTION 8.12. Counterparts. This Security Agreement may be executed by the
parties hereto in several counterparts, each of which shall be deemed to be an original and all of
which shall constitute together but one and the same agreement. Delivery of an executed
counterpart of a signature page to this Security Agreement by facsimile (or other electronic
transmission) shall be effective as delivery of a manually executed counterpart of this Security
Agreement.

     SECTION 8.13. Intercreditor Agreement. Notwithstanding anything to the
contrary contained in this Agreement, the Liens, security interests and rights granted pursuant to
this Agreement or any other Security Document (including with respect to releases of Collateral and
amendments to Security Documents) with respect to the Collateral shall be subject to the terms and
conditions of (and the exercise of any right or remedy by the Collateral Agent and the other
Secured Parties hereunder or thereunder shall be subject to the terms and conditions of) the
Intercreditor Agreement. In the event of any conflict between this Agreement, any other Security
Document or the Indenture and the Intercreditor Agreement, the Intercreditor Agreement shall
control, and no right, power, or remedy granted to the Collateral Agent or the other Secured
Parties hereunder or under the Indenture or any other Security Document shall be exercised by the
Collateral Agent or any other Secured Party, and no direction shall be given by the Collateral
Agent or any other Secured Party in contravention of the Intercreditor Agreement. Without
limiting the generality of the foregoing, and notwithstanding anything herein to the contrary, all
rights and remedies of the Collateral Agent (and the Secured Parties) shall be subject to the terms
of the Intercreditor Agreement, and, with respect to the Collateral, until the First Priority
Obligations Payment Date (as such term is defined in the Intercreditor Agreement) any obligation of
the Company and any other Grantor hereunder or under the Indenture or any other Security Document
with respect to the delivery or control of any Collateral, the notation of any Lien on any
certificate of title, bill of lading or other document, the giving of any notice to any bailee or
other Person, the provision of voting rights or the obtaining of any consent of any Person shall be
deemed to be satisfied if the Company or such Grantor, as applicable, complies with the
requirements of the similar provision of the applicable First Priority Document (as such term is
defined in the Intercreditor Agreement) or the Intercreditor Agreement to the extent the provisions
of the Intercreditor Agreement related to such Collateral or provision. Until the First Priority
Obligations Payment Date, the delivery of any Collateral to, or the control of any Collateral by,
the First Priority Representative (as such term is defined in the Intercreditor Agreement) pursuant
to the First Priority Documents shall satisfy any delivery or control requirement hereunder or
under any other Security Document.

33

 

     IN WITNESS WHEREOF, each of the parties hereto has caused this Security Agreement to be duly
executed and delivered by its Authorized Officer as of the date first above written.

	 	 	 	 	 
	 	SWIFT TRANSPORTATION CO., LLC

SWIFT TRANSPORTATION COMPANY

SWIFT TRANSPORTATION CO. OF ARIZONA, LLC

SWIFT LEASING CO., LLC

SWIFT TRANSPORTATION SERVICES, LLC

SWIFT TRANSPORTATION CO. OF VIRGINIA, LLC

SWIFT INTERMODAL, LLC

COMMON MARKET EQUIPMENT CO., LLC

M.S. CARRIERS, LLC

SPARKS FINANCE LLC

ESTRELLA DISTRIBUTING, LLC

 	 
	 	By:  	/s/ Virginia Henkels	 
	 	 	Name: 	Virginia Henkels	 
	 	 	Title: 	Chief Financial Officer, Executive Vice President and Treasurer	 
	 
	 	SWIFT SERVICES HOLDINGS, INC.

 	 
	 	By:  	/s/ Virginia Henkels	 
	 	 	Name: 	Virginia Henkels	 
	 	 	Title: 	Treasurer	 
	 
	 	INTERSTATE EQUIPMENT LEASING, LLC

 	 
	 	By: 	Jerry Moyes	 
	 	 	Name: 	  	 
	 	 	Title:  	 	 
	 

34

 

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION,        ,

as Collateral Agent

 	 
	 	By:  	/s/ Raymond S. Haverstock	 
	 	 	Name:  	 Raymond S. Haverstock	 
	 	 	Title:  	Vice President	 
	 

35

 

SCHEDULE I

to Security Agreement

Item A

Name of Grantor:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Common Stock	 
	 	 	 	 	 	 	 	 	# of	 	 	Authorized	 	 	Outstanding	 	 	% of Shares	 
	Issuer (corporate)	 	 	Cert. #	 	 	Shares	 	 	Shares	 	 	Shares	 	 	Pledged	 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	Limited Liability Company Interests
	 	 	 	 	% of Limited Liability	 	Type of Limited Liability
	Issuer (limited liability company)	 	Company Interests Pledged	 	Company Interests Pledged

	 	 	 	 	 	 	 	 	 
	 	 	 	 	Partnership Interests
	 	 	 	 	% of Partnership	 	% of Partnership
	Issuer (partnership)	 	Interests Owned	 	Interests Pledged

Pledge and Security Agreement

36

 

Item B

Documents, Instruments, Promissory Notes or Chattel Paper Delivered at Closing:

Name of Grantor

37

 

SCHEDULE II

to Security Agreement

Item A. Location of each Grantor.

	 	 	 
	Name of Grantor:	 	Location for purposes of UCC:
	[GRANTOR]

	 	[LOCATION]

Item B. Trade names.

	 	 	 
	Name of Grantor:	 	Trade Names:
	[GRANTOR]
	 	 

Item C. Merger or other corporate reorganization.

	 	 	 
	 	 	Merger or other corporate
	Name of Grantor:	 	reorganization:
	[GRANTOR]
	 	 

Item D. Taxpayer ID numbers.

	 	 	 
	Name of Grantor:	 	Taxpayer ID numbers:
	[GRANTOR]
	 	 

Pledge and Security Agreement

 

 

Item E. Government Contracts.

	 	 	 
	Name of Grantor:	 	Description of Contract:
	[GRANTOR]
	 	 

Item F. Deposit Accounts and Securities Accounts.

	 	 	 
	 	 	Description of Deposit Accounts and
	Name of Grantor:	 	Securities Accounts:
	[GRANTOR]
	 	 

Item G. Letter of Credit Rights.

	 	 	 
	Name of Grantor:	 	Description of Letter of Credit Rights:
	[GRANTOR]
	 	 

Item H. Commercial Tort Claims.

	 	 	 
	Name of Grantor:	 	Description of Commercial Tort Claims:
	[GRANTOR]
	 	 

Item I. Organizational Identification Numbers.

	 	 	 
	 	 	Organizational Identification
	Name of Grantor:	 	Number:
	[GRANTOR]
	 	 

 

 

SCHEDULE III

to Security Agreement

Item A. Patents

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Issued Patents	 	 	 	 
	Country	 	Patent No.	 	Issue Date	 	Inventor(s)	 	Title

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Pending Patent ApplicationsCountry	 	 	Serial No.	 	 	Filing Date	 	 	Inventor(s)	 	 	Title	 

Item B. Exclusive Patent Licenses

	 	 	 	 	 	 	 	 	 	 	 
	Country or	 	 	 	 	 	 	 	Effective	 	Expiration
	Territory	 	Patent	 	Licensor	 	Licensee	 	Date	 	Date
	 
	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 
	 

 

 

SCHEDULE IV

to Security Agreement

Item A. Trademarks

	 	 	 	 	 	 	 
	 	 	 	 	Registered Trademarks	 	 
	Country	 	Trademark	 	Registration No.	 	Registration Date
	 	 	 	 	 	 	 

	 	 	 	 	 	 	 
	Pending Trademark	 	 	 	 	 	 
	ApplicationsCountry	 	Trademark	 	Serial No.	 	Filing Date
	 	 	 	 	 	 	 

Item B. Exclusive Trademark Licenses

	 	 	 	 	 	 	 	 	 	 	 
	Country or	 	 	 	 	 	 	 	Effective	 	 
	Territory	 	Trademark	 	Licensor	 	Licensee	 	Date	 	Expiration    Date
	 	 	 	 	 	 	 	 	 	 	 

 

 

SCHEDULE V

to Security Agreement

Item A. Copyrights

	 	 	 	 	 	 	 	 	 
	 	 	 	 	Registered Copyrights	 	 	 	 
	Country	 	Registration No.	 	Registration Date	 	Author(s)	 	Title
	 	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	Copyright Registration Applications	 	 	 	 
	Country	 	Serial No.	 	Filing Date	 	Author(s)	 	Title
	 	 	 	 	 	 	 	 	 

Item B. Exclusive Copyright Licenses

	 	 	 	 	 	 	 	 	 	 	 
	Country or	 	 	 	 	 	 	 	Effective	 	 
	Territory	 	Copyright	 	Licensor	 	Licensee	 	Date	 	Expiration    Date
	 	 	 	 	 	 	 	 	 	 	 

 

 

SCHEDULE VI

to Security Agreement

Exceptions

 

 

SCHEDULE VII

to Security Agreement

Motor Vehicle Title Offices

	 	 	 	 	 
	Name of Grantor:	 	Location of Motor Vehicle Title Office:	 	Designated Employees With Access to Title:
	[GRANTOR]

	 	[LOCATION]
	 	[NAME(S) OF EMPLOYEE(S)]

 

 

EXHIBIT A

to Security Agreement

PATENT SECURITY AGREEMENT

     This PATENT SECURITY AGREEMENT, dated as of ________ __, 200_ (this “Agreement”), is
made by [NAME OF GRANTOR], a ___________ (the “Grantor”), in favor of U.S. BANK NATIONAL
ASSOCIATION., as the collateral agent for each of the Secured Parties (as defined in the Security
Agreement referred to below) (together with its successor(s) thereto in such capacity, the
“Collateral Agent”).

W I T N E S S E T H :

     WHEREAS, pursuant to an Indenture, dated as of December 21, 2010 (as amended, supplemented,
amended and restated or otherwise modified from time to time, the “Indenture”), among SWIFT
SERVICES HOLDINGS, INC., a Delaware corporation (the “Company”), SWIFT TRANSPORTATION
COMPANY, a Delaware corporation (“Parent”), the Subsidiary Guarantors and U.S. Bank
National Association, as the trustee for each of the Secured Parties (together with its
successor(s) thereto in such capacity, the “Trustee”) the Company has duly authorized the
creation of an issue of 10.000% Senior Second Priority Secured Notes due 2018 (the “Notes”)
issued on the date hereof and the Guarantors have duly authorized their Note Guarantees of the
Notes;

     WHEREAS, in connection with the Indenture, the Grantor has executed and delivered a Pledge and
Security Agreement in favor of the Collateral Agent, dated as of December 21, 2010 (as amended,
supplemented, amended and restated or otherwise modified from time to time, the “Security
Agreement”);

     WHEREAS, pursuant to the Indenture and the Security Agreement, the Grantor is required to
execute and deliver this Agreement and to grant to the Collateral Agent for its benefit and the
ratable benefit of each other Secured Party, a continuing security interest in all of the Grantor’s
right, title and interest in the Patent Collateral (as defined below) to secure all the Secured
Obligations; and

     WHEREAS, the Grantor has duly authorized the execution, delivery and performance of this
Agreement;

     NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Grantor agrees, for the benefit of each Secured Party, as follows:

     SECTION 1. Definitions. Unless otherwise defined herein or the context
otherwise requires, terms used in this Agreement, including its preamble and recitals, have the
meanings provided (or incorporated by reference) in the Security Agreement.

     SECTION 2. Grant of Security Interest. The Grantor hereby grants to the
Collateral Agent, for its benefit and the ratable benefit of each other Secured Party, a continuing
security interest in all of the Grantor’s right, title and interest in the United States, whether
now or hereafter existing, owned or acquired by such Grantor, and wherever located, in and to the
following (Patent Collateral”):

     (a) all United States inventions and discoveries, whether patentable or not, all
letters patent and all applications for letters patent, including all patent applications in
preparation for filing in the United States, including all reissues, divisions,
continuations, continuations-in-part,

 

 

extensions, renewals and reexaminations of any of the foregoing, in each case, owned by
any Grantor (“Patents”), including each United States issued Patent and Patent
application referred to in Schedule I;

     (b) all Patent licenses, and other agreements for the grant by or to the Grantor of any
right to use any items of the type referred to in clause (a) above (each a
“Patent License”) including each written, exclusive inbound license of any material
United States Patent application and/or registrationas set forth in Item B of
Schedule I;

     (c) the right to sue third parties for past, present and future infringements of any
issued Patent or Patent application, or for breach or enforcement of any Patent License; and

     (d) all proceeds of, and rights associated with, the foregoing (including Proceeds,
licenses, royalties, income, payments, claims, damage awards and proceeds of infringement
suits).

     Notwithstanding the foregoing, Patent Collateral shall not include, and the grant of a
security interest as provided hereunder shall not extend to those items set forth in clauses (i)
through (x) of Section 3.1 of the Security Agreement.

     SECTION 3. Security Agreement. This Agreement has been executed and
delivered by the Grantor for the purpose of registering the security interest of the Collateral
Agent in the Patent Collateral with the United States Patent and Trademark Office. The security
interest granted hereby has been granted as a supplement to, and not in limitation of, the security
interest granted to the Collateral Agent for its benefit and the ratable benefit of each other
Secured Party under the Security Agreement. The Security Agreement (and all rights and remedies of
the Collateral Agent and each Secured Party thereunder) shall remain in full force and effect in
accordance with its terms.

     SECTION 4. Acknowledgment. The Grantor does hereby further acknowledge and
affirm that the rights and remedies of the Collateral Agent with respect to the security interest
in the Patent Collateral granted hereby are more fully set forth in the Security Agreement, the
terms and provisions of which (including the remedies provided for therein) are incorporated by
reference herein as if fully set forth herein. To the extent there is any conflict between the
terms of the Security Agreement and this Agreement, the Security Agreement shall control.

     SECTION 5. Security Document. This Agreement is a Security Document
executed pursuant to the Indenture and shall (unless otherwise expressly indicated herein) be
construed, administered and applied in accordance with the terms and provisions thereof, including
Section 10.01 thereof.

     SECTION 6. Intercreditor Agreement. Notwithstanding anything to the
contrary contained in this Agreement, the Liens, security interests and rights granted pursuant to
this Agreement with respect to the Patent Collateral shall be subject to the terms and conditions
of (and the exercise of any right or remedy by the Collateral Agent and the other Secured Parties
hereunder shall be subject to the terms and conditions of) the Intercreditor Agreement to the same
extent as set forth in Section 8.13 of the Security Agreement. In the event of any conflict
between this Agreement and the Intercreditor Agreement, the Intercreditor Agreement shall control,
and no right, power, or remedy granted to the Collateral Agent or the other Secured Parties
hereunder shall be exercised by the Collateral Agent or any other Secured Party, and no direction
shall be given by the Collateral Agent or any other Secured Party in contravention of the
Intercreditor Agreement.

 

 

     SECTION 7. Counterparts. This Agreement may be executed by the parties
hereto in several counterparts, each of which shall be deemed to be an original and all of which
shall constitute together but one and the same agreement. Delivery of an executed counterpart of a
signature page to this Agreement by facsimile (or other electronic transmission) shall be
effective, or delivery of a manually executed counterpart.

     SECTION 8. THIS SECURITY AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAW OF THE STATE OF NEW YORK.

 

 

     SECTION 9. IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be duly
executed and delivered by its Authorized Officer as of the date first above written.

	 	 	 	 	 
	 	[NAME OF GRANTOR]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION,

as Collateral Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

SCHEDULE I

to Patent Security Agreement

Item A. Patents

	 	 	 	 	 	 	 

	Issued Patents
	Country
	 	Patent No.
	 	Issue Date
	 	Title
	 	 	 	 	 	 	 

	 	 	 	 	 	 	 

	Pending Patent Applications
	Country
	 	Serial No.
	 	Filing Date
	 	Title
	 	 	 	 	 	 	 

Item B. Exclusive Patent Licenses

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Country or	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Effective	 	 	Expiration	 
	Territory	 	 	Patent	 	 	Licensor	 	 	Licensee	 	 	Date	 	 	Date	 

 

 

EXHIBIT B

to Security Agreement

TRADEMARK SECURITY AGREEMENT

     This TRADEMARK SECURITY AGREEMENT, dated as of ________ __, 200_ (this “Agreement”),
is made by [NAME OF GRANTOR], a __________ (the “Grantor”), in favor of U.S. BANK NATIONAL
ASSOCIATION, as the collateral agent (together with its successor(s) thereto in such capacity, the
“Collateral Agent”) for each of the Secured Parties (as defined in the Security Agreement
referred to below).

W I T N E S S E T H :

     WHEREAS, pursuant to an Indenture, dated as of December 21, 2010 (as amended, supplemented,
amended and restated or otherwise modified from time to time, the “Indenture”), among SWIFT
SERVICES HOLDINGS, INC., a Delaware corporation (the “Company”), SWIFT TRANSPORTATION
COMPANY, a Delaware corporation (“Parent”), the Subsidiary Guarantors and U.S. Bank
National Association, as the trustee for each of the Secured Parties (together with its
successor(s) thereto in such capacity, the “Trustee”) the Company has duly authorized the
creation of an issue of 10.000% Senior Second Priority Secured Notes due 2018 (the “Notes”)
issued on the date hereof and the Guarantors have duly authorized their Note Guarantees of the
Notes;

     WHEREAS, in connection with the Indenture, the Grantor has executed and delivered a Pledge and
Security Agreement in favor of the Collateral Agent, dated as of December 21, 2010 (as amended,
supplemented, amended and restated or otherwise modified from time to time, the “Security
Agreement”);

     WHEREAS, pursuant to the Indenture and the Security Agreement, the Grantor is required to
execute and deliver this Agreement and to grant to the Collateral Agent for its benefit and the
ratable benefit of each other Secured Party, a continuing security interest in all of the Grantor’s
right, title and interest in the Patent Collateral (as defined below) to secure all the Secured
Obligations; and

     WHEREAS, the Grantor has duly authorized the execution, delivery and performance of this
Agreement;

     NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the Grantor agrees, for the benefit of each Secured Party, as
follows:

     SECTION 1. Definitions. Unless otherwise defined herein or the context
otherwise requires, terms used in this Agreement, including its preamble and recitals, have the
meanings provided (or incorporated by reference) in the Security Agreement.

     SECTION 2. Grant of Security Interest. The Grantor hereby grants to the
Collateral Agent, for its benefit and the ratable benefit of each other Secured Party, a continuing
security interest in all of the Grantor’s right, title and interest in the United States, whether
now or hereafter existing, owned or acquired by such Grantor, and wherever located, in and to the
following (the “Trademark Collateral”):

     (a) (i) all United States trademarks, trade names, brand names, corporate names,
company names, business names, fictitious business names, trade styles, trade dress, domain
names, service marks, certification marks, collective marks, logos and other source or
business

 

 

identifiers, whether registered or unregistered, in each case, owned by the Grantor and
all goodwill of the business associated therewith, now existing or hereafter adopted or
acquired, whether currently in use or not, all registrations thereof and all applications in
connection therewith, including registrations and applications in the United States Patent
and Trademark Office or in any other office or agency of the United States of America, or
any State thereof, and all common law rights relating to the foregoing, and (ii) the right
to obtain all reissues, extensions or renewals of the foregoing in the United States,
including the United States Trademark registrations and applications listed on Item A of
Schedule I (collectively referred to as “Trademarks”);

     (b) all Trademark licenses and other agreements for the grant by or to the Grantor of
any right to use any United States Trademark (each a “Trademark License”), including
each written, exclusive inbound license of any material United States Trademark application
and/or registration as set forth in Item B of Schedule I;

     (c) the right to sue third parties for past, present and future infringements or
dilution of the Trademarks described in clause (a) and, to the extent applicable,
clause (b) for any injury to the goodwill associated with the use of any such
Trademark or for breach or enforcement of any Trademark License; and

     (d) all proceeds of, and rights associated with, the foregoing (including Proceeds,
licenses, royalties, income, payments, claims, damages and proceeds of infringement suits).

     Notwithstanding the foregoing, Trademark Collateral shall not include those items set forth in
clauses (i) through (xi) of Section 3.1 of the Security Agreement.

     SECTION 3. Security Agreement. This Agreement has been executed and
delivered by the Grantor for the purpose of registering the security interest of the Collateral
Agent in the Trademark Collateral with the United States Patent and Trademark Office. The security
interest granted hereby has been granted as a supplement to, and not in limitation of, the security
interest granted to the Collateral Agent for its benefit and the ratable benefit of each other
Secured Party under the Security Agreement. The Security Agreement (and all rights and remedies of
the Collateral Agent and each Secured Party thereunder) shall remain in full force and effect in
accordance with its terms.

     SECTION 4. Acknowledgment. The Grantor does hereby further acknowledge and
affirm that the rights and remedies of the Collateral Agent with respect to the security interest
in the Trademark Collateral granted hereby are more fully set forth in the Security Agreement, the
terms and provisions of which (including the remedies provided for therein) are incorporated by
reference herein as if fully set forth herein. To the extent there is any conflict between the
terms of the Security Agreement and this Agreement, the Security Agreement shall control.

     SECTION 5. Security Document. This Agreement is a Security Document
executed pursuant to the Indenture and shall (unless otherwise expressly indicated herein) be
construed, administered and applied in accordance with the terms and provisions thereof, including
Section 10.01 thereof.

     SECTION 6. Intercreditor Agreement. Notwithstanding anything to the
contrary contained in this Agreement, the Liens, security interests and rights granted pursuant to
this Agreement with respect to the Trademark Collateral shall be subject to the terms and
conditions of (and the exercise of any right or remedy by the Collateral Agent and the other
Secured Parties hereunder shall be subject to the terms and conditions of) the Intercreditor
Agreement to the same extent as set forth in Section 8.13 of the Security Agreement. In the event
of any conflict between this Agreement and the Intercreditor Agreement, the

 

 

Intercreditor Agreement shall control, and no right, power, or remedy granted to the
Collateral Agent or the other Secured Parties hereunder shall be exercised by the Collateral Agent
or any other Secured Party, and no direction shall be given by the Collateral Agent or any other
Secured Party in contravention of the Intercreditor Agreement.

     SECTION 7. Counterparts. This Agreement may be executed by the parties
hereto in several counterparts, each of which shall be deemed to be an original and all of which
shall constitute together but one and the same agreement. Delivery of an executed counterpart of a
signature page to this Agreement by facsimile (or other electronic transmission) shall be
effective, or delivery of a manually executed counterpart.

     SECTION 8. THIS SECURITY AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.* * * * *

 

 

     IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be duly executed
and delivered by its Authorized Officer as of the date first above written.

	 	 	 	 	 
	 	

[NAME OF GRANTOR]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	U.S. BANK NATIONAL ASSOCIATION,

as Collateral Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

SCHEDULE I

to Trademark Security Agreement

Item A. Trademarks

Registered Trademarks

	 	 	 	 	 	 	 
	Country	 	Trademark	 	Registration No.	 	Registration Date
	 
	 	 
	 	 
	 	 

Pending Trademark Applications

	 	 	 	 	 	 	 
	Country	 	Trademark	 	Serial No.	 	Filing Date
	 
	 	 
	 	 
	 	 

Item B. Exclusive Trademark Licenses

	 	 	 	 	 	 	 	 	 	 	 
	Country or	 	 	 	 	 	 	 	Effective	 	 
	Territory	 	Trademark	 	Licensor	 	Licensee	 	Date	 	Expiration    Date
	 
	 	 
	 	 
	 	 
	 	 
	 	 

 

 

EXHIBIT C

to Security Agreement

COPYRIGHT SECURITY AGREEMENT

     This COPYRIGHT SECURITY AGREEMENT, dated as of ________ __, 200_ (this “Agreement”),
is made by [NAME OF GRANTOR], a __________ (the “Grantor”), in favor of U.S. BANK NATIONAL
ASSOCIATION, as the collateral agent (together with its successor(s) thereto in such capacity, the
“Collateral Agent”) for each of the Secured Parties (as defined in the Security Agreement
referred to below).

W I T N E S S E T H :

     WHEREAS, pursuant to an Indenture, dated as of December 21, 2010 (as amended, supplemented,
amended and restated or otherwise modified from time to time, the “Indenture”), among SWIFT
SERVICES HOLDINGS, INC., a Delaware corporation (the “Company”), SWIFT TRANSPORTATION
COMPANY, a Delaware corporation (“Parent”), the Subsidiary Guarantors and U.S. Bank
National Association, as the trustee for each of the Secured Parties (together with its
successor(s) thereto in such capacity, the “Trustee”) the Company has duly authorized the
creation of an issue of 10.000% Senior Second Priority Secured Notes due 2018 (the “Notes”)
issued on the date hereof and the Guarantors have duly authorized their Note Guarantees of the
Notes;

     WHEREAS, in connection with the Indenture, the Grantor has executed and delivered a Pledge and
Security Agreement in favor of the Collateral Agent, dated as of December 21, 2010 (as amended,
supplemented, amended and restated or otherwise modified from time to time, the “Security
Agreement”);

     WHEREAS, pursuant to the Indenture and the Security Agreement, the Grantor is required to
execute and deliver this Agreement and to grant to the Collateral Agent for its benefit and the
ratable benefit of each other Secured Party, a continuing security interest in all of the Grantor’s
right, title and interest in the Patent Collateral (as defined below) to secure all the Secured
Obligations; and

     WHEREAS, the Grantor has duly authorized the execution, delivery and performance of this
Agreement;

     NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the Grantor agrees, for the benefit of each Secured Party, as
follows:

     SECTION 9. Definitions. Unless otherwise defined herein or the context
otherwise requires, terms used in this Agreement, including its preamble and recitals, have the
meanings provided (or incorporated by reference) in the Security Agreement.

     SECTION 10. Grant of Security Interest. The Grantor hereby grants to the
Collateral Agent, for its benefit and the ratable benefit of each other Secured Party, a continuing
security interest in all of the Grantor’s right, title and interest in the United States, whether
now or hereafter existing, owned or acquired by the Grantor, wherever located, in and to the
following (the “Copyright Collateral”):

     (a) all United States copyrights and copyrightable works of authorship owned
by the Grantor, whether registered or unregistered and whether published or unpublished, in
any media,

 

 

now or hereafter in force including copyrights registered in the United States
Copyright Office, and registrations thereof and all applications for registration thereof in
the United States, whether pending or in preparation and all extensions and renewals of the
foregoing (“Copyrights”), including the United States registrations and applications
referred to in Item A of Schedule I;

     (b) all Copyright licenses and other agreements for the grant by or to the
Grantor of any right to use any items of the type referred to in clause (a) above (each a
“Copyright License”), including each written, exclusive, inbound license of any
material United States Copyright application and/or registration set forth in Item B
of Schedule I;

     (c) the right to sue for past, present and future infringements of any of the
Copyrights described in clause (a), and for breach or enforcement of any Copyright License;
and

     (d) all proceeds of, and rights associated with, the foregoing (including
Proceeds, licenses, royalties, income, payments, claims, damage awards and proceeds of
infringement suits).

     Notwithstanding the foregoing, Copyright Collateral shall not include those items set forth in
clauses (i) through (xi) of Section 3.1 of the Security Agreement.

     SECTION 11. Security Agreement. This Agreement has been executed and
delivered by the Grantor for the purpose of registering the security interest of the Collateral
Agent in the Copyright Collateral with the United States Copyright Office and any copyright office
anywhere in the world. The security interest granted hereby has been granted as a supplement to,
and not in limitation of, the security interest granted to the Collateral Agent for its benefit and
the ratable benefit of each other Secured Party under the Security Agreement. The Security
Agreement (and all rights and remedies of the Collateral Agent and each Secured Party thereunder)
shall remain in full force and effect in accordance with its terms.

     SECTION 12. Acknowledgment. The Grantor does hereby further acknowledge
and affirm that the rights and remedies of the Collateral Agent with respect to the security
interest in the Copyright Collateral granted hereby are more fully set forth in the Security
Agreement, the terms and provisions of which (including the remedies provided for therein) are
incorporated by reference herein as if fully set forth herein. To the extent there is any conflict
between the terms of the Security Agreement and this Agreement, the Security Agreement shall
control.

     SECTION 13. Security Document. This Agreement is a Security Document
executed pursuant to the Indenture and shall (unless otherwise expressly indicated herein) be
construed, administered and applied in accordance with the terms and provisions thereof, including
Section 10.01 thereof.

     SECTION 14. Intercreditor Agreement. Notwithstanding anything to the
contrary contained in this Agreement, the Liens, security interests and rights granted pursuant to
this Agreement with respect to the Copyright Collateral shall be subject to the terms and
conditions of (and the exercise of any right or remedy by the Collateral Agent and the other
Secured Parties hereunder shall be subject to the terms and conditions of) the Intercreditor
Agreement to the same extent as set forth in Section 8.13 of the Security Agreement. In the event
of any conflict between this Agreement and the Intercreditor Agreement, the Intercreditor Agreement
shall control, and no right, power, or remedy granted to the Collateral Agent or the other Secured
Parties hereunder shall be exercised by the Collateral Agent or any other Secured Party, and no
direction shall be given by the Collateral Agent or any other Secured Party in contravention of the
Intercreditor Agreement.

C-2

 

     SECTION 15. Counterparts. This Agreement may be executed by the parties
hereto in several counterparts, each of which shall be deemed to be an original and all of which
shall constitute together but one and the same agreement. Delivery of an executed counterpart of a
signature page to this Agreement by facsimile (or other electronic transmission) shall be
effective, or delivery of a manually executed counterpart.

     SECTION 16. THIS SECURITY AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

*     *     *     *     *

     IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be duly executed
and delivered by its Authorized Officer as of the date first above written.

	 	 	 	 	 
	 	[NAME OF GRANTOR]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCATION,

as Collateral Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

C-3

 

	 	 	 	 	 

SCHEDULE I

to Copyright Security Agreement

Item A. Copyrights

Registered Copyrights

	 	 	 	 	 	 	 	 	 

	Country
	 	Registration No.
	 	Registration Date
	 	Author(s)
	 	Title
	 
	 	 
	 	 
	 	 
	 	 

Copyright Pending Applications

	 	 	 	 	 	 	 	 	 

	Country
	 	Serial No.
	 	Filing Date
	 	Author(s)
	 	Title
	 
	 	 
	 	 
	 	 
	 	 

Item B. Copyright Licenses

	 	 	 	 	 	 	 	 	 	 	 

	Country or 

Territory
	 	Copyright
	 	Licensor
	 	Licensee
	 	Effective

Date
	 	Expiration

Date
	 
	 	 
	 	 
	 	 
	 	 
	 	 

C-4

 

ANNEX I

to Security Agreement

SUPPLEMENT TO

PLEDGE AND SECURITY AGREEMENT

     This SUPPLEMENT, dated as of ____________ ___, _____ (this “Supplement”), is to the
Pledge and Security Agreement, dated as of December [_], 2010 (as amended, supplemented, amended
and restated or otherwise modified from time to time, the “Security Agreement”), among the
Grantors (such term, and other terms used in this Supplement, to have the meanings set forth in
Article I of the Security Agreement) from time to time party thereto, in favor of U.S. BANK
NATIONAL ASSOCAITION, as the collateral agent (together with its successor(s) thereto in such
capacity, the “Collateral Agent”) for each of the Secured Parties (as defined in the
Security Agreement referred to below).

W I T N E S S E T H

:

     WHEREAS, pursuant to an Indenture, dated as of December 21, 2010 (as amended, supplemented,
amended and restated or otherwise modified from time to time, the “Indenture”), among SWIFT
SERVICES HOLDINGS, INC., a Delaware corporation (the “Company”), SWIFT TRANSPORTATION
COMPANY, a Delaware corporation (“Parent”), the Subsidiary Guarantors and U.S. Bank
National Association, as the trustee for each of the Secured Parties (together with its
successor(s) thereto in such capacity, the “Trustee”) the Company has duly authorized the
creation of an issue of 10.000% Senior Second Priority Secured Notes due 2018 (the “Notes”)
issued on the date hereof and the Guarantors have duly authorized their Note Guarantees of the
Notes;

     WHEREAS, pursuant to the provisions of Section 8.7 of the Security Agreement, each of the
undersigned is becoming a Grantor under the Security Agreement; and

     WHEREAS, each of the undersigned desires to become a “Grantor” under the Security Agreement in
order to induce the Secured Parties to continue to purchase the Notes;

     NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, each of the undersigned agrees, for the benefit of each Secured Party, as
follows.

     SECTION 1. Party to Security Agreement, etc. In accordance with the terms of the
Security Agreement, by its signature below each of the undersigned hereby irrevocably agrees to
become a Grantor under the Security Agreement with the same force and effect as if it were an
original signatory thereto and each of the undersigned hereby (a) agrees to be bound by and comply
with all of the terms and provisions of the Security Agreement applicable to it as a Grantor, (b)
represents and warrants that the representations and warranties made by it as a Grantor thereunder
are true and correct as of the date hereof, unless stated to relate solely to an earlier date, in
which case such representations and warranties shall be true and correct as of such earlier date,
and (c) grants to the Collateral Agent, for its benefit and the ratable benefit of each other
Secured Party, a continuing security interest in all of the Collateral. In furtherance of the
foregoing, each reference to a “Grantor” and/or “Grantors” in the Security Agreement shall be
deemed to include each of the undersigned.

     SECTION 2. Financing Statements. Each Grantor hereby authorizes the Collateral Agent
to file financing statements describing as the collateral covered thereby “all of the debtor’s
personal property or assets now existing or hereafter acquired” or words to that effect,
notwithstanding that such wording may be broader in scope than the Collateral described in this
Security Agreement.

Annex I

 

 

     SECTION 3. Representations. Each of the undersigned Grantors hereby represents
and warrants that this Supplement has been duly authorized, executed and delivered by it and that
this Supplement and the Security Agreement constitute the legal, valid and binding obligation of
each of the undersigned, enforceable against it in accordance with its terms.

     SECTION 4. Full Force of Security Agreement. Except as expressly supplemented hereby,
the Security Agreement shall remain in full force and effect in accordance with its terms.

     SECTION 5. Severability. Wherever possible each provision of this Supplement shall be
interpreted in such manner as to be effective and valid under applicable law, but if any provision
of this Supplement shall be prohibited by or invalid under such law, such provision shall be
ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of
such provision or the remaining provisions of this Supplement or the Security Agreement.

     SECTION 6. Governing Law, Entire Agreement, etc. THIS SUPPLEMENT SHALL BE GOVERNED
BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. This Supplement and the
other Note Documents (as defined in the Credit Agreement) constitute the entire understanding among
the parties hereto with respect to the subject matter thereof and supersede any prior agreements,
written or oral, with respect thereto.

     SECTION 7. Counterparts. This Supplement may be executed by the parties hereto in
several counterparts, each of which shall be deemed to be an original and all of which shall
constitute together but one and the same agreement.

*    *    *    *    *

Annex I-2

 

 

     IN WITNESS WHEREOF, each of the parties hereto has caused this Supplement to be duly
executed and delivered by its Authorized Officer as of the date first above written.

	 	 	 	 	 
	 	[NAME OF ADDITIONAL SUBSIDIARY]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[NAME OF ADDITIONAL SUBSIDIARY]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	ACCEPTED AND AGREED FOR ITSELF

AND ON BEHALF OF THE SECURED PARTIES:

U.S. BANK NATIONAL ASSOCIATION,

      as Collateral Agent

 	 
	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 

Annex I-3exv10w2

Exhibit 10.2

      

 

REGISTRATION RIGHTS AGREEMENT

Dated as of December 21, 2010

Among

SWIFT SERVICES HOLDINGS, INC.

and

The Other Several GUARANTORS Named Herein

and

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED

and

MORGAN STANLEY & CO. INCORPORATED

and

WELLS FARGO SECURITIES, LLC

and

The Other Several INITIAL PURCHASERS Named Herein

10.000% Senior Second Priority Secured Notes due 2018

      

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	Definitions
	 	 	1	 
	Exchange Offer
	 	 	4	 
	Shelf Registration
	 	 	7	 
	Additional Interest
	 	 	9	 
	Registration Procedures
	 	 	10	 
	Registration Expenses
	 	 	17	 
	Indemnification and Contribution
	 	 	18	 
	Rule 144A
	 	 	22	 
	Underwritten Registrations
	 	 	22	 
	Miscellaneous
	 	 	23	 

i

 

REGISTRATION RIGHTS AGREEMENT

          This Registration Rights Agreement (this “Agreement”) is dated as of December 21,
2010, among Swift Services Holdings, Inc. (the “Company”), a Delaware corporation, and the
guarantors named in Schedule A hereto (the “Initial Guarantors”), on the one hand, and
Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. Incorporated and Wells
Fargo Securities, LLC and the other several Initial Purchasers named in Schedule B hereto
(collectively, the “Initial Purchasers”), on the other hand.

          This Agreement is entered into in connection with the Purchase Agreement, dated as of December
15, 2010, among the Company, the Initial Guarantors and the Initial Purchasers (the “Purchase
Agreement”), which provides for, among other things, the sale by the Company to the Initial
Purchasers of 500.0 million aggregate principal amount of the Company’s 10.000% Senior Second
Priority Secured Notes Due 2018 (the “Notes”), which will be guaranteed on a senior second
priority basis by each of the Guarantors. The Notes are issued under an indenture, dated as of
December 21, 2010 (as amended or supplemented from time to time, the “Indenture”), between
the Company, the Guarantors and U.S. Bank National Association, as trustee (the “Trustee”).
In order to induce the Initial Purchasers to enter into the Purchase Agreement, the Company and the
Guarantors have agreed to provide the registration rights set forth in this Agreement for the
benefit of the Initial Purchasers and, except as otherwise set forth herein, any subsequent holder
or holders of the Notes. The execution and delivery of this Agreement is a condition to the Initial
Purchasers’ obligation to purchase the Notes under the Purchase Agreement. The Notes will have the
terms and provisions described in the Indenture.

          The parties hereby agree as follows:

          1. Definitions.

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

          Additional Guarantor: Any subsidiary of Parent that executes a Guarantee under the
Indenture after the date of this Agreement.

          Additional Interest: See Section 4(a) hereof.

          Advice: See the last paragraph of Section 5 hereof.

          Agreement: See the introductory paragraphs hereto.

          Applicable Period: See Section 2(b) hereof.

          Business Day: Shall have the meaning ascribed to such term in Rule 14d-1 under the
Exchange Act.

          Company: See the introductory paragraphs hereto.

          Effectiveness Deadline: See Section 4(a) hereof.

 

 

          Effectiveness Period: See Section 3(b) hereof.

          Exchange Act: The Securities Exchange Act of 1934, as amended, and the rules and
regulations of the SEC promulgated thereunder.

          Exchange Notes: See Section 2(a) hereof.

          Exchange Offer: See Section 2(a) hereof.

          Exchange Offer Registration Statement: See Section 2(a) hereof.

          FINRA: See Section 5(r) hereof.

          Guarantees: The guarantees of the Notes and the guarantees of the Exchange Notes by
the Guarantors under the Indenture.

          Guarantor: The Initial Guarantors, any Additional Guarantors and any Guarantor’s
successor that Guarantees the Notes. Any Guarantor released from its obligations pursuant to
Section 11.05 of the Indenture shall simultaneously be released from obligations hereunder, and
shall not thereafter be a Guarantor under this Agreement.

          Holder: Any holder of a Registrable Security or Registrable Securities.

          Indenture: See the introductory paragraphs hereto.

          Information: See Section 5(n) hereof.

          Initial Guarantors: See the introductory paragraphs and Schedule A hereto.

          Initial Purchasers: See the introductory paragraphs and Schedule B hereto.

          Initial Shelf Registration: See Section 3(a) hereof.

          Inspectors: See Section 5(n) hereof.

          Issue Date: December 21, 2010, the date of original issuance of the Notes.

          Notes: See the introductory paragraphs hereto.

          Parent: Shall mean Swift Transportation Company, a Delaware corporation.

          Participant: See Section 7(a) hereof.

          Participating Broker-Dealer: See Section 2(b) hereof.

          Person: An individual, trustee, corporation, partnership, limited liability company,
joint stock company, trust, unincorporated association, union, business association, firm or other
legal entity.

2

 

          Prospectus: The prospectus included in any Registration Statement (including, without
limitation, any prospectus subject to completion and a prospectus that includes any information
previously omitted from a prospectus filed as part of an effective registration statement in
reliance upon Rules 430A or 430C under the Securities Act), as amended or supplemented by any
prospectus supplement, and all other amendments and supplements to the Prospectus, including
post-effective amendments, and all material incorporated by reference or deemed to be incorporated
by reference in such Prospectus.

          Purchase Agreement: See the introductory paragraphs hereof.

          Records: See Section 5(n) hereof.

          Registrable Securities: Each Note upon its original issuance and at all times
subsequent thereto and each Exchange Note as to which Section 2(c)(ii) hereof is applicable
upon original issuance and at all times subsequent thereto and, in each case, any related
guarantees, until, in each case, the earliest to occur of (i) a Registration Statement covering
such Note or Exchange Note (and any related guarantees) has been declared effective by the SEC and
such Note or Exchange Note (and any related guarantees), as the case may be, has been sold and
disposed of in accordance with such effective Registration Statement, (ii) such Note has been
exchanged pursuant to the Exchange Offer for an Exchange Note or Exchange Notes that may be resold
without restriction under state and federal securities laws, (iii) such Note or Exchange Note (and
any related guarantees), as the case may be, ceases to be outstanding for purposes of the Indenture
or (iv) such Note is eligible to be sold pursuant to Rule 144 by a Person that is not an
“affiliate” (as defined in Rule 405) of the Company or any of the Guarantors.

          Registration Default: See Section 4(a) hereof.

          Registration Statement: Any registration statement of the Company and the Guarantors
that covers any of the Notes or the Exchange Notes (and any related guarantees) filed with the SEC
under the Securities Act, including, in each case, the Prospectus, amendments and supplements to
such registration statement, including post-effective amendments, all exhibits, and all material
incorporated by reference or deemed to be incorporated by reference in such registration statement.

          Rule 144: Rule 144 under the Securities Act.

          Rule 144A: Rule 144A under the Securities Act.

          Rule 405: Rule 405 under the Securities Act.

          Rule 415: Rule 415 under the Securities Act.

          Rule 424: Rule 424 under the Securities Act.

          SEC: The U.S. Securities and Exchange Commission.

          Securities Act: The Securities Act of 1933, as amended, and the rules and regulations
of the SEC promulgated thereunder.

3

 

          Shelf Notice: See Section 2(c) hereof.

          Shelf Registration: See Section 3(b) hereof.

          Shelf Registration Statement: Any Registration Statement relating to a Shelf
Registration.

          Shelf Suspension Period: See Section 3(a) hereof.

          Subsequent Shelf Registration: See Section 3(b) hereof.

          TIA: The Trust Indenture Act of 1939, as amended.

          Trustee: The trustee under the Indenture and the trustee under any indenture (if
different) governing the Exchange Notes (and any related guarantees).

          Underwritten registration or underwritten offering: A registration in which
securities of the Company and the Guarantors are sold to an underwriter for reoffering to the
public.

          Except as otherwise specifically provided, all references in this Agreement to acts, laws,
statutes, rules, regulations, releases, forms, no-action letters and other regulatory requirements
(collectively, “Regulatory Requirements”) shall be deemed to refer also to any amendments
thereto and all subsequent Regulatory Requirements adopted as a replacement thereto having
substantially the same effect therewith; provided that Rule 144 shall not be deemed to amend or
replace Rule 144A.

          2. Exchange Offer.

          (a) Unless the Exchange Offer would violate applicable law or any applicable interpretation of
the staff of the SEC, the Company and the Guarantors shall use their reasonable best efforts to
file with the SEC a registration statement (the “Exchange Offer Registration Statement”) on
an appropriate registration form with respect to a registered offer (the “Exchange Offer”)
to exchange any and all of the Registrable Securities for a like aggregate principal amount of debt
securities of the Company (the “Exchange Notes”), guaranteed by the Guarantors under the
Indenture, with terms substantially identical in all material respects to the Notes, as applicable,
except that (i) the Exchange Notes shall contain no restrictive legend thereon, and (ii) interest
on the Exchange Notes shall accrue in accordance with the paragraph set forth immediately below.
The Exchange Offer shall comply with all applicable tender offer rules and regulations under the
Exchange Act and other applicable laws. The Company and the Guarantors shall use their reasonable
best efforts to cause the Exchange Offer Registration Statement to be declared effective under the
Securities Act.

          Upon the Exchange Offer Registration Statement becoming effective, the Company and the
Guarantors will offer the Exchange Notes in exchange for surrender of the Notes. The Company and
the Guarantors will keep the Exchange Offer open for at least 20 Business Days (or longer if
required by applicable law) after the date that notice of the Exchange Offer is mailed to Holders.
For each Note surrendered to the Company and the Guarantors

4

 

pursuant to the Exchange Offer, the Holder who surrendered such Note shall receive an Exchange
Note having a principal amount equal to that of the surrendered Note. Interest on each Exchange
Note will accrue (y) from the later of (i) the last interest payment date on which interest was
paid on the Note surrendered in exchange therefor or (ii) if the Note is surrendered for exchange
between the record date for an interest payment date to occur on or after the date of such exchange
and as to which interest will be paid and such interest payment date, the date of such interest
payment date or (z) if no interest has been paid on such Note, from the Issue Date.

          Each Holder (including, without limitation, each Participating Broker-Dealer) that
participates in the Exchange Offer, as a condition to participation in the Exchange Offer, will be
required to represent to the Company in writing (which may be contained in the applicable letter of
transmittal) that: (i) any Exchange Notes acquired in exchange for Registrable Securities tendered
are being acquired in the ordinary course of business of the Person receiving such Exchange Notes,
whether or not such recipient is such Holder itself; (ii) at the time of the commencement or
consummation of the Exchange Offer neither such Holder nor, to the actual knowledge of such Holder,
any other Person receiving Exchange Notes from such Holder has an arrangement or understanding with
any Person to participate in the distribution (within the meaning of the Securities Act) of the
Exchange Notes in violation of the provisions of the Securities Act; (iii) neither the Holder nor,
to the actual knowledge of such Holder, any other Person receiving Exchange Notes from such Holder
is an “affiliate” (as defined in Rule 405) of the Company or any of the Guarantors; (iv) if such
Holder is not a broker-dealer, neither such Holder nor, to the actual knowledge of such Holder, any
other Person receiving Exchange Notes from such Holder is engaging in or intends to engage in a
distribution of the Exchange Notes; and (v) if such Holder is a Participating Broker-Dealer that
will receive Exchange Notes for its own account in exchange for Registrable Securities that were
acquired as a result of market-making or other trading activities, such Holder will deliver a
prospectus with any resale of such Exchange Notes; provided that the Company and the
Guarantors shall make available, during the period required by the Securities Act, a prospectus
meeting the requirements of the Securities Act for use by Participating Broker-Dealers and other
persons, if any, with similar prospectus delivery requirements for use in connection with any
resale of Exchange Notes.

          No securities other than the Exchange Notes and the Notes (and any related guarantees) shall
be included in the Exchange Offer Registration Statement.

          (b) The Company and the Guarantors shall include within the Prospectus contained in the
Exchange Offer Registration Statement a section entitled “Plan of Distribution,” which
shall indicate that any broker-dealer who holds Registrable Securities that were acquired for its
own account as a result of market-making activities or other trading activities (other than
Registrable Securities acquired directly from the Company or any of the Guarantors) (a
“Participating Broker-Dealer”) may exchange such Registrable Securities pursuant to the
Exchange Offer; however, such Participating Broker-Dealer may be deemed to be an “underwriter”
within the meaning of the Securities Act and must, therefore, deliver a prospectus meeting the
requirements of the Securities Act in connection with any resales of the Exchange Notes received by
such broker-dealer in the Exchange Offer, which prospectus delivery requirements may be satisfied
by the delivery by such broker-dealer of the Prospectus contained in the Exchange Offer
Registration Statement . Such “Plan of Distribution” section shall also

5

 

contain all other information with respect to resales by Participating Broker-Dealers that the
SEC may require in order to permit such resales pursuant thereto.

          The Company and the Guarantors shall use their reasonable best efforts to keep the Exchange
Offer Registration Statement effective and to amend and supplement the Prospectus contained therein
to the extent necessary in order to permit such Prospectus to be lawfully delivered by all Persons
subject to the prospectus delivery requirements of the Securities Act for resales of Exchange Notes
for such period of time as is necessary to comply with applicable law in connection with any resale
of Exchange Notes; provided, however, that such period shall not be required to
exceed 90 days or such longer period if extended pursuant to the last paragraph of Section
5 hereof (the “Applicable Period”).

          In connection with the Exchange Offer, the Company and the Guarantors shall, subject to
applicable law:

     (1) mail, or cause to be mailed, to each Holder of record entitled to participate in
the Exchange Offer a copy of the Prospectus forming part of the Exchange Offer Registration
Statement, together with an appropriate letter of transmittal and related documents;

     (2) use their reasonable best efforts to keep the Exchange Offer open for not less than
20 Business Days from the date that notice of the Exchange Offer is mailed to Holders (or
longer if required by applicable law);

     (3) utilize the services of a depositary for the Exchange Offer with an address in the
Borough of Manhattan, The City of New York or in Wilmington, Delaware;

     (4) permit Holders to withdraw tendered Notes at any time prior to the close of
business, New York time, on the last Business Day on which the Exchange Offer remains open;
and

     (5) otherwise comply in all material respects with all laws, rules and regulations
applicable to the Exchange Offer.

          As soon as practicable after the close of the Exchange Offer, the Company and the Guarantors
shall, subject to applicable law:

     (1) accept for exchange all Registrable Securities validly tendered and not validly
withdrawn pursuant to the Exchange Offer;

     (2) deliver to the Trustee for cancellation all Registrable Securities so accepted for
exchange; and

     (3) cause the Trustee to authenticate and deliver promptly to each Holder of Notes,
Exchange Notes equal in principal amount to the Notes of such Holder so tendered for
exchange; provided that, in the case of any Notes held in global form by a
depositary, authentication and delivery to such depositary of one or more replacement Notes
in

6

 

global form in an equivalent principal amount thereto for the account of such Holders
in accordance with the Indenture shall satisfy such authentication and delivery requirement.

          The Exchange Offer shall not be subject to any conditions, other than that (i) the Exchange
Offer does not violate applicable law or any applicable interpretation of the staff of the SEC;
(ii) no action or proceeding shall have been instituted or threatened in any court or by any
governmental agency that would be reasonably likely to materially impair the ability of the Company
or any of the Guarantors to proceed with the Exchange Offer, and no material adverse development
shall have occurred in any existing action or proceeding with respect to the Company or any of the
Guarantors; and (iii) all governmental approvals shall have been obtained, which approvals the
Company and the Guarantors deem necessary for the consummation of the Exchange Offer.

          The Exchange Notes shall be issued under (i) the Indenture or (ii) an indenture identical in
all material respects to the Indenture and which, in either case, has been qualified under the TIA
or is exempt from such qualification and shall provide that the Exchange Notes shall not be subject
to the transfer restrictions set forth in the Indenture. The Indenture or such indenture shall
provide that the Exchange Notes and the Notes shall vote and consent together on all matters as one
class and that none of the Exchange Notes or the Notes will have the right to vote or consent as a
separate class on any matter.

          (c) If, (i) because of any change in applicable law or in currently prevailing interpretations
of the staff of the SEC, the Company or any of the Guarantors is not permitted to effect the
Exchange Offer or (ii) upon receipt of a written notification from any Holder prior to the 20th
Business Day following the consummation of the Exchange Offer representing that (A) it is
prohibited by law or SEC policy from participating in the Exchange Offer, (B) it may not resell the
Exchange Notes acquired by it in the Exchange Offer to the public without delivering a prospectus
and the Prospectus contained in the Exchange Offer Registration Statement is not appropriate or
available for such resales, (C) it is a Participating Broker-Dealer, or (D) it is an affiliate of
the Company and will not receive Exchange Notes in the Exchange Offer that may be freely
transferred without restriction under federal securities laws, in the case of each of clauses (i)
and (ii) of this sentence, then the Company and the Guarantors shall promptly deliver to the
Trustee (to deliver to the Holders) written notice thereof (the “Shelf Notice”) and shall
file a Shelf Registration pursuant to Section 3 hereof.

          3. Shelf Registration.

          If at any time a Shelf Notice is delivered as contemplated by Section 2(c) hereof,
then:

     (a) Shelf Registration. The Company and the Guarantors shall use their
reasonable best efforts to promptly file with the SEC a Registration Statement for an
offering to be made on a continuous basis pursuant to Rule 415 covering all of the
Registrable Securities (the “Initial Shelf Registration”). The Initial Shelf
Registration shall be on Form S-1 or another appropriate form permitting registration of
such Registrable Securities for resale by Holders in the manner or manners designated by
them (including, without limitation, one or more underwritten offerings). The Company and

7

 

the Guarantors shall not permit any securities other than the Registrable Securities to
be included in the Initial Shelf Registration or any Subsequent Shelf Registration (as
defined below).

     The Company and the Guarantors shall use their reasonable best efforts to cause the
Shelf Registration to be declared effective under the Securities Act and to keep the Initial
Shelf Registration continuously effective under the Securities Act until the earliest of (i)
the date that is one (1) year from the Issue Date and (ii) such shorter period ending when
all Registrable Securities covered by the Shelf Registration Statement have been sold in the
manner set forth and as contemplated in the Initial Shelf Registration or, if applicable, a
Subsequent Shelf Registration.

     Notwithstanding anything to the contrary in this Agreement, at any time, the Company
and the Guarantors may delay the filing of any Initial Shelf Registration Statement or
Subsequent Shelf Registration or delay or suspend the effectiveness thereof, for a
reasonable period of time, but not in excess of 45 consecutive days or more than three (3)
times during any calendar year (each, a “Shelf Suspension Period”), if the Board of
Directors of the Company or Parent determines reasonably and in good faith that the filing
of any such Initial Shelf Registration Statement or Subsequent Shelf Registration the
continuing effectiveness thereof would require the disclosure of non-public material
information that, in the reasonable judgment of the Board of Directors of the Company, would
be detrimental to the Company or any of the Guarantors if so disclosed or would otherwise
materially adversely affect a financing, acquisition, disposition, merger or other material
transaction or such action is required by applicable law.

     (b) Withdrawal of Stop Orders; Subsequent Shelf Registrations. If the Initial
Shelf Registration or any Subsequent Shelf Registration ceases to be effective for any
reason at any time during the one year after such registration statement becomes effective
(the “Effectiveness Period”) (other than because of the sale of all of the Notes
registered thereunder), the Company and the Guarantors shall use their reasonable best
efforts to obtain the prompt withdrawal of any order suspending the effectiveness thereof,
and in any event shall file an additional Shelf Registration Statement pursuant to Rule 415
covering all of the Registrable Securities covered by and not sold under the Initial Shelf
Registration or an earlier Subsequent Shelf Registration (each, a “Subsequent Shelf
Registration”). If a Subsequent Shelf Registration is filed, the Company and the
Guarantors shall use their reasonable best efforts to cause the Subsequent Shelf
Registration to be declared effective under the Securities Act as soon as practicable after
such filing and to keep such subsequent Shelf Registration continuously effective for a
period equal to the number of days in the Effectiveness Period less the aggregate number of
days during which the Initial Shelf Registration or any Subsequent Shelf Registration was
previously continuously effective. As used herein the term “Shelf Registration” means the
Initial Shelf Registration and any Subsequent Shelf Registration.

     (c) Supplements and Amendments. The Company and the Guarantors shall promptly
supplement and amend the Shelf Registration if required by the rules, regulations or
instructions applicable to the registration form used for such Shelf Registration, if
required by the Securities Act, or if reasonably requested by the Holders

8

 

of a majority in aggregate principal amount of the Registrable Securities (or
their counsel) covered by such Registration Statement with respect to the information
included therein with respect to one or more of such Holders, or, if reasonably requested by
any underwriter of such Registrable Securities, with respect to the information included
therein with respect to such underwriter.

          4. Additional Interest.

          (a) The Company and the Guarantors and the Initial Purchasers agree that the Holders will
suffer damages if the Company or any Guarantor fails to fulfill its obligations under Section
2 or Section 3 hereof and that it would not be feasible to ascertain the extent of such
damages with precision. Accordingly, the Company and the Guarantors agree to pay additional
interest on the Notes (“Additional Interest”) if (A) the Company and the Guarantors have
not exchanged Exchange Notes for all Notes validly tendered in accordance with the terms of the
Exchange Offer on or prior to the 180th day after the Issue Date, (B) the Company and the
Guarantors are required to file a Shelf Registration Statement and such Shelf Registration
Statement is not declared effective on or prior to the later of the 180th day after the Issue Date
and the 30th day after the obligation to file such Shelf Registration Statement arises (the
“Effectiveness Deadline”) or (C) such Shelf Registration ceases to be effective at any time
during the Effectiveness Period (other than because of the sale of all of the Notes registered
thereunder) (each a “Registration Default”), then Additional Interest shall accrue on the
principal amount of the Notes at a rate of 0.25% per annum (which rate will be increased by an
additional 0.25% per annum for each subsequent 90 day period that such Additional Interest
continues to accrue, provided that the rate at which such Additional Interest accrues may
in no event exceed 1.00% per annum) (such Additional Interest to be calculated by the Company)
commencing on the (x) 181st day after the Issue Date, in the case of clause (A) above, (y) the day
after the Effectiveness Deadline in the case of clause (B) above or (z) the day such Shelf
Registration ceases to be effective in the case of clause (C) above; provided,
however, that upon the exchange of the Exchange Notes for all Notes tendered (in the case
of clause (A) of this Section 4), upon the effectiveness of the applicable Shelf
Registration Statement (in the case of (B) of this Section 4), or upon the effectiveness of
the applicable Shelf Registration Statement which had ceased to remain effective (in the case of
clause (C) of this Section 4), Additional Interest on the Notes as a result of such clause
(or the relevant subclause thereof), as the case may be, shall cease to accrue. Notwithstanding any
other provisions of this Section 4, (i) Additional Interest shall not accrue and the
Company and the Guarantors shall not be obligated to pay any Additional Interest provided for in
Section 4(a)(B) during a Shelf Suspension Period permitted by Section 3(a) hereof;
provided, that no Additional Interest shall accrue on the Notes following the second
anniversary of the Issue Date and (ii) the Additional Interest described in this Section 4
is the sole and exclusive remedy available to Holders due a Registration Default. Additional
Interest shall be payable in the same form elected by the Company for the payment of interest for
the applicable interest payment period, on the same dates and to the same persons that the Company
makes other interest payments on the Notes, until the Registration Default is corrected.

          (b) The Company and the Guarantors shall notify the Trustee within five business days after
each and every date on which a Registration Default occurs. The amount of Additional Interest will
be determined by the Company by multiplying the applicable Additional Interest rate by the
principal amount of the Registrable Securities, multiplied by a fraction, the

9

 

numerator of which is the number of days such Additional Interest rate was applicable during
such period (determined on the basis of a 365 day year comprised of twelve 30 day months and, in
the case of a partial month, the actual number of days elapsed), and the denominator of which is
365.

          5. Registration Procedures.

          In connection with the filing of any Registration Statement pursuant to Section 2 or
3 hereof, the Company and the Guarantors shall effect such registrations to permit the sale
of the securities covered thereby in accordance with the intended method or methods of disposition
thereof, and pursuant thereto and in connection with any Registration Statement filed by the
Company and the Guarantors hereunder the Company and the Guarantors shall:

     (a) Before filing (i) any Shelf Registration Statement or any amendment or supplement
thereto or (ii) any Registration Statement, Prospectus or amendment or supplement thereto
required to be delivered under the Securities Act by any Participating Broker-Dealer who
seeks to sell Exchange Notes during the Applicable Period relating thereto from whom the
Company or the Guarantors have received prior written notice that it will be a Participating
Broker-Dealer in the Exchange Offer, the Company and the Guarantors shall furnish to and
afford counsel for the Holders of the Registrable Securities covered by such Registration
Statement (with respect to a Registration Statement filed pursuant to Section 3
hereof) or counsel for such Participating Broker-Dealer (with respect to any such
Registration Statement), as the case may be, and counsel to the managing underwriters, if
any, a reasonable opportunity to review copies of all such documents (including copies of
any documents to be incorporated by reference therein and all exhibits thereto) proposed to
be filed (in each case at least three business days prior to such filing). The Company and
the Guarantors shall not file any Registration Statement or Prospectus or any amendments or
supplements thereto if the Holders of a majority in aggregate principal amount of the
Registrable Securities covered by such Registration Statement, their counsel, or the
managing underwriters, if any, shall reasonably object.

     (b) Prepare and file with the SEC such amendments and post-effective amendments to each
Shelf Registration Statement or Exchange Offer Registration Statement, as the case may be,
as may be necessary to keep such Registration Statement continuously effective for the
Effectiveness Period, the Applicable Period or until consummation of the Exchange Offer, as
the case may be; cause the related Prospectus to be supplemented by any Prospectus
supplement required by applicable law, and as so supplemented to be filed pursuant to Rule
424 to the extent required by applicable law; and comply with the provisions of the
Securities Act and the Exchange Act applicable to it with respect to the disposition of all
securities covered by such Registration Statement as so amended or in such Prospectus as so
supplemented and with respect to the subsequent resale of any securities being sold by an
Participating Broker-Dealer covered by any such Prospectus in all material respects.

     (c) If (1) a Shelf Registration is filed pursuant to Section 3 hereof or (2) a
Prospectus contained in the Exchange Offer Registration Statement filed pursuant to

10

 

Section 2 hereof is required to be delivered under the Securities Act by any
Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period
relating thereto from whom the Company or the Guarantors have received written notice that
it will be a Participating Broker-Dealer in the Exchange Offer, notify the selling Holders
of Registrable Securities (with respect to a Registration Statement filed pursuant to
Section 3 hereof), or each such Participating Broker-Dealer (with respect to any
such Registration Statement), as the case may be, their counsel and the managing
underwriters, if any, promptly (but in any event within three Business Days), and confirm
such notice in writing, (i) when a Prospectus or any Prospectus supplement or post-effective
amendment has been filed, and, with respect to a Registration Statement or any
post-effective amendment, when the same has become effective under the Securities Act, (ii)
of the issuance by the SEC of any stop order suspending the effectiveness of a Registration
Statement or of any order preventing or suspending the use of any preliminary prospectus or
the initiation of any proceedings for that purpose, (iii) if at any time when a prospectus
is required by the Securities Act to be delivered in connection with sales of the
Registrable Securities or resales of Exchange Notes by Participating Broker-Dealers the
representations and warranties of the Company or any Guarantors contained in any agreement
(including any underwriting agreement) contemplated by Section 5(m) hereof cease to
be true and correct, (iv) of the receipt by the Company or any Guarantor of any notification
with respect to the suspension of the qualification or exemption from qualification of a
Registration Statement or any of the Registrable Securities or the Exchange Notes to be sold
by any Participating Broker-Dealer for offer or sale in any jurisdiction, or the initiation
or threatening of any proceeding for such purpose, and (v) of the happening of any event,
the existence of any condition or any information becoming known to the Company or any
Guarantor that makes any statement made in such Registration Statement or related Prospectus
or any document incorporated or deemed to be incorporated therein by reference untrue in any
material respect or that requires the making of any changes in or amendments or supplements
to such Registration Statement, Prospectus or documents so that, in the case of the
Registration Statement, it will not contain any untrue statement of a material fact or omit
to state any material fact required to be stated therein or necessary to make the statements
therein, in the light of the circumstances under which they were made, not misleading, and
that in the case of the Prospectus, it will not contain any untrue statement of a material
fact or omit to state any material fact required to be stated therein or necessary to make
the statements therein, in the light of the circumstances under which they were made, not
misleading.

     (d) Use their reasonable best efforts to prevent the issuance of any order suspending
the effectiveness of a Registration Statement or of any order preventing or suspending the
use of a Prospectus or suspending the qualification (or exemption from qualification) of any
of the Registrable Securities or the Exchange Notes to be sold by any Participating
Broker-Dealer, for sale in any jurisdiction.

     (e) If a Shelf Registration is filed pursuant to Section 3 and if requested
during the Effectiveness Period by the managing underwriter or underwriters (if any) or the
Holders of a majority in aggregate principal amount of the Registrable Securities being sold
in connection with an underwritten offering, (i) as promptly as reasonably practicable
incorporate in a prospectus supplement or post-effective amendment such

11

 

information as the managing underwriter or underwriters (if any), such Holders or
counsel for either of them reasonably request to be included therein and (ii) make all
required filings of such prospectus supplement or such post-effective amendment.

     (f) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a
Prospectus contained in the Exchange Offer Registration Statement filed pursuant to
Section 2 hereof is required to be delivered under the Securities Act by any
Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period,
furnish to each selling Holder of Registrable Securities (with respect to a Registration
Statement filed pursuant to Section 3 hereof) and to each such Participating
Broker-Dealer who so requests (with respect to any such Registration Statement) and to their
respective counsel and each managing underwriter, if any, at the sole expense of the Company
and the Guarantors, one conformed copy of the Registration Statement or Registration
Statements and each post-effective amendment thereto, including financial statements and
schedules, and, if requested (unless filed on Edgar), all documents incorporated or deemed
to be incorporated therein by reference and all exhibits.

     (g) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a
Prospectus contained in the Exchange Offer Registration Statement filed pursuant to
Section 2 hereof is required to be delivered under the Securities Act by any
Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period,
deliver to each selling Holder of Registrable Securities (with respect to a Registration
Statement filed pursuant to Section 3 hereof), or each such Participating
Broker-Dealer (with respect to any such Registration Statement), as the case may be, their
respective counsel, and the underwriters, if any, at the sole expense of the Company and the
Guarantors, as many copies of the Prospectus or Prospectuses (including each form of
preliminary prospectus) and each amendment or supplement thereto and (unless filed on Edgar)
any documents incorporated by reference therein as such Persons may reasonably request; and,
subject to the last paragraph of this Section 5, the Company and the Guarantors
hereby consent to the use of such Prospectus and each amendment or supplement thereto by
each of the selling Holders of Registrable Securities or each such Participating
Broker-Dealer, as the case may be, and the underwriters or agents, if any, and dealers, if
any, in connection with the offering and sale of the Registrable Securities covered by, or
the sale by Participating Broker-Dealers of the Exchange Notes pursuant to, such Prospectus
and any amendment or supplement thereto.

     (h) Prior to any public offering of Registrable Securities or any delivery of a
Prospectus contained in the Exchange Offer Registration Statement by any Participating
Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, use their
reasonable best efforts to register or qualify, and to cooperate with the selling Holders of
Registrable Securities or each such Participating Broker-Dealer, as the case may be, the
managing underwriter or underwriters, if any, and their respective counsel in connection
with the registration or qualification (or exemption from such registration or
qualification) of such Registrable Securities for offer and sale under the securities or
Blue Sky laws of such jurisdictions within the United States as any selling Holder,
Participating Broker-Dealer, or the managing underwriter or underwriters reasonably request
in writing; provided, however, that where Exchange Notes held by
Participating

12

 

Broker-Dealers or Registrable Securities are offered other than through an underwritten
offering, the Company and the Guarantors agree to cause their counsel to perform Blue Sky
investigations and file registrations and qualifications required to be filed pursuant to
this Section 5(h), keep each such registration or qualification (or exemption
therefrom) effective during the period such Registration Statement is required to be kept
effective and do any and all other acts or things necessary or advisable to enable the
disposition in such jurisdictions of the Exchange Notes held by Participating Broker-Dealers
or the Registrable Securities covered by the applicable Registration Statement;
provided, however, that the Company and Guarantors shall not be required to
(A) qualify generally to do business in any jurisdiction where the Company or any Guarantor
is not then so qualified, (B) take any action that would subject them to general service of
process in any such jurisdiction where it is not then so subject or (C) subject themselves
to taxation in excess of a nominal dollar amount in any such jurisdiction where the Company
or any Guarantor is not then so subject.

     (i) If a Shelf Registration is filed pursuant to Section 3 hereof, cooperate
with the selling Holders of Registrable Securities and the managing underwriter or
underwriters, if any, to facilitate the timely preparation and delivery of certificates
representing Registrable Securities to be sold, which certificates shall not bear any
restrictive legends and shall be in a form eligible for deposit with The Depository Trust
Company; and enable such Registrable Securities to be in such denominations (subject to
applicable requirements contained in the Indenture) and registered in such names as the
managing underwriter or underwriters, if any, or Holders may request.

     (j) Subject to the proviso in Section 5(h), use their reasonable best efforts
to cause the Registrable Securities covered by the Registration Statement to be registered
with or approved by such other U.S. governmental agencies or authorities as may be necessary
to enable the seller or sellers thereof or the underwriter or underwriters, if any, to
consummate the disposition of such Registrable Securities, except as may be required solely
as a consequence of the nature of such selling Holder’s business, in which case the Company
and the Guarantors will cooperate in all respects with the filing of such Registration
Statement and the granting of such approvals.

     (k) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a
Prospectus contained in the Exchange Offer Registration Statement filed pursuant to
Section 2 hereof is required to be delivered under the Securities Act by any
Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period,
upon the occurrence of any event contemplated by Section 5(c)(v) hereof, as promptly
as practicable prepare and (subject to Section 5(a) hereof) file with the SEC, at
the sole expense of the Company and the Guarantors, a supplement or post-effective amendment
to the Registration Statement or a supplement to the related Prospectus or any document
incorporated therein by reference, or file any other required document so that, as
thereafter delivered to the purchasers of the Registrable Securities being sold thereunder
(with respect to a Registration Statement filed pursuant to Section 3 hereof) or to
the purchasers of the Exchange Notes to whom such Prospectus will be delivered by a
Participating Broker-Dealer (with respect to any such Registration Statement), any such
Prospectus will not contain an untrue statement of a material fact or omit to state a

13

 

material fact required to be stated therein or necessary to make the statements
therein, in the light of the circumstances under which they were made, not misleading.

     (l) Prior to the effective date of the first Registration Statement relating to the
Registrable Securities, (i) provide the Trustee with certificates for the Registrable
Securities in a form eligible for deposit with The Depository Trust Company and (ii) provide
a CUSIP number for the Registrable Securities.

     (m) In connection with an underwritten offering of Registrable Securities pursuant to a
Shelf Registration, enter into an underwriting agreement as is customary in underwritten
offerings of debt securities similar to the Notes (including, without limitation, a
customary condition to the obligations of the underwriters that the underwriters shall have
received “cold comfort” letters and updates thereof in form, scope and substance reasonably
satisfactory to the managing underwriter or underwriters from the independent certified
public accountants of the Company, Parent and the other Guarantors (and, if necessary, any
other independent certified public accountants of the Company, Parent or any of the other
Guarantors, or of any business acquired by the Company, Parent or any of the other
Guarantors for which financial statements and financial data are, or are required to be,
included or incorporated by reference in the Registration Statement), addressed to each of
the underwriters, such letters to be in customary form and covering matters of the type
customarily covered in “cold comfort” letters in connection with underwritten offerings of
debt securities similar to the Notes), and take all such other actions as are reasonably
requested by the managing underwriter or underwriters in order to expedite or facilitate the
registration or the disposition of such Registrable Securities and, in such connection, (i)
make such representations and warranties to, and covenants with, the underwriters with
respect to the business of the Company and the Guarantors (including any acquired business,
properties or entity, if applicable), and the Registration Statement, Prospectus and
documents, if any, incorporated or deemed to be incorporated by reference therein, in each
case, as are customarily made by Company and the Guarantors to underwriters in underwritten
offerings of debt securities similar to the Notes, and confirm the same in writing if and
when requested; (ii) obtain the written opinions of counsel to the Company and the
Guarantors, and written updates thereof in form, scope and substance reasonably satisfactory
to the managing underwriter or underwriters, addressed to the underwriters covering the
matters customarily covered in opinions reasonably requested in underwritten offerings; and
(iii) if an underwriting agreement is entered into, the same shall contain indemnification
provisions and procedures no less favorable to the sellers and underwriters, if any, than
those set forth in Section 7 hereof (or such other provisions and procedures
reasonably acceptable to Holders of a majority in aggregate principal amount of Registrable
Securities covered by such Registration Statement and the managing underwriter or
underwriters or agents, if any). The above shall be done at closing under such underwriting
agreement or as and to the extent required thereunder.

     (n) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a
Prospectus contained in the Exchange Offer Registration Statement filed pursuant to
Section 2 hereof is required to be delivered under the Securities Act by any
Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period,
make

14

 

     available for inspection by any Initial Purchasers, any selling Holder of such
Registrable Securities being sold (with respect to a Registration Statement filed pursuant
to Section 3 hereof), or each such Participating Broker-Dealer, as the case may be,
any underwriter participating in any such disposition of Registrable Securities, if any, and
any attorney, accountant or other agent retained by any such selling Holder or each such
Participating Broker-Dealer (with respect to any such Registration Statement), as the case
may be, or underwriter (any such Initial Purchaser, Holders, Participating Broker-Dealers,
underwriters, attorneys, accountants or agents, collectively, the “Inspectors”),
upon written request, at the offices where normally kept, during business hours, all
pertinent financial and other records, pertinent corporate documents and instruments of
Parent and subsidiaries of Parent (collectively, the “Records”), as shall be
reasonably necessary to enable them to exercise any applicable due diligence
responsibilities, and cause the officers, directors and employees of Parent and any of its
subsidiaries to supply all information (“Information”) reasonably requested by any
such Inspector in connection with such due diligence responsibilities. Each Inspector shall
agree in writing that it will keep the Records and Information confidential, to use the
Information only for due diligence purposes, to abstain from using the Information as the
basis for any market transactions in securities of Parent, the Company or any of their
subsidiaries and that it will not disclose any of the Records or Information that the
Company and the Guarantors determine, in good faith, to be confidential and notifies the
Inspectors in writing are confidential unless (i) the disclosure of such Records or
Information is necessary to avoid or correct a misstatement or omission in such Registration
Statement or Prospectus, (ii) the release of such Records or Information is ordered pursuant
to a subpoena or other order from a court of competent jurisdiction, (iii) disclosure of
such Records or Information is necessary or advisable, in the opinion of counsel for any
Inspector, in connection with any action, claim, suit or proceeding, directly or indirectly,
involving or potentially involving such Inspector and arising out of, based upon, relating
to, or involving this Agreement or the Purchase Agreement, or any transactions contemplated
hereby or thereby or arising hereunder or thereunder, or (iv) the information in such
Records or Information has been made generally available to the public other than by an
Inspector or an “affiliate” (as defined in Rule 405), representative or agent thereof;
provided, however, that prior notice shall be provided as soon as
practicable to the Company and the Guarantors of the potential disclosure of any information
by such Inspector pursuant to clauses (i), (ii) or (iii) of this sentence to permit the
Company and the Guarantors to obtain a protective order (or waive the provisions of this
paragraph (o)) and that such Inspector shall take such actions as are reasonably necessary
to protect the confidentiality of such information (if practicable) to the extent such
action is otherwise not inconsistent with, an impairment of or in derogation of the rights
and interests of the Holder or any Inspector.

     (o) Provide an indenture trustee for the Registrable Securities or the Exchange Notes,
as the case may be, and cause the Indenture or the trust indenture provided for in
Section 2(a) hereof, as the case may be, to be qualified under the TIA not later
than the effective date of the first Registration Statement relating to the Registrable
Securities; and in connection therewith, cooperate with the trustee under any such indenture
and the Holders of the Registrable Securities, to effect such changes (if any) to such
indenture as may be required for such indenture to be so qualified in accordance with the
terms of the

15

 

TIA; and execute, and use their commercially reasonable best efforts to cause such
trustee to execute, all documents as may be required to effect such changes, and all other
forms and documents required to be filed with the SEC to enable such indenture to be so
qualified in a timely manner.

     (p) Comply in all material respects with all applicable rules and regulations of the
SEC and make generally available to their securityholders with regard to any applicable
Registration Statement, a consolidated earning statement satisfying the provisions of
Section 11(a) of the Securities Act and Rule 158 thereunder (or any similar rule promulgated
under the Securities Act) no later than 45 days after the end of any fiscal quarter (or 90
days after the end of any 12-month period if such period is a fiscal year) (i) commencing at
the end of any fiscal quarter in which Registrable Securities are sold to underwriters in a
firm commitment or best efforts underwritten offering and (ii) if not sold to underwriters
in such an offering, commencing on the first day of the first fiscal quarter of the Company,
after the effective date of a Registration Statement, which statements shall cover said
12-month periods; provided that this requirement shall be deemed satisfied by the
Company and the Guarantors complying with Section 4.03 of the Indenture.

     (q) If the Exchange Offer is to be consummated, upon delivery of the Registrable
Securities by Holders to the Company (or to such other Person as directed by the Company),
in exchange for the Exchange Notes, as the case may be, the Company shall mark, or cause to
be marked, on such Registrable Securities that such Registrable Securities are being
cancelled in exchange for the Exchange Notes, as the case may be; in no event shall such
Registrable Securities be marked as paid or otherwise satisfied.

     (r) Use reasonable efforts to cooperate with each seller of Registrable Securities
covered by any Registration Statement and each underwriter, if any, participating in the
disposition of such Registrable Securities and their respective counsel in connection with
any filings required to be made with the Financial Industry Regulatory Authority, Inc. (the
“FINRA”).

     (s) Use its respective reasonable best efforts to take all other steps reasonably
necessary to effect the registration of the Exchange Notes and/or Registrable Securities
covered by a Registration Statement contemplated hereby.

          The Company may require each seller of Registrable Securities as to which any registration is
being effected to furnish to the Company such information regarding such seller and the
distribution of such Registrable Securities as the Company may, from time to time, reasonably
request. Furthermore, a Holder that sells Registrable Securities pursuant to a Shelf Registration
Statement will be required to be named as a selling security holder in the related Prospectus and
to deliver such Prospectus to purchasers of its Registrable Securities. The Company and the
Guarantors may exclude from such registration the Registrable Securities of any seller so long as
such seller fails to furnish such information within a reasonable time after receiving such
request. Each seller as to which any Shelf Registration is being effected agrees to furnish
promptly to the Company all information required to be disclosed in order to make the information
previously furnished to the Company by such seller not materially misleading.

16

 

          If any such Registration Statement refers to any Holder by name or otherwise as the holder of
any securities of the Company, then such Holder shall have the right to require (i) the insertion
therein of language, in form and substance reasonably satisfactory to such Holder, to the effect
that the holding by such Holder of such securities is not to be construed as a recommendation by
such Holder of the investment quality of the securities covered thereby and that such holding does
not imply that such Holder will assist in meeting any future financial requirements of the Company
and the Guarantors, or (ii) in the event that such reference to such Holder by name or otherwise is
not required by the Securities Act or any similar federal statute then in force, the deletion of
the reference to such Holder in any amendment or supplement to the Registration Statement filed or
prepared subsequent to the time that such reference ceases to be required.

          Each Holder of Registrable Securities and each Participating Broker-Dealer agrees by its
acquisition of such Registrable Securities or Exchange Notes to be sold by such Participating
Broker-Dealer, as the case may be, that, upon actual receipt of any notice from the Company or a
Guarantor of the happening of any event of the kind described in Section 5(c)(ii),
5(c)(iv) or 5(c)(v) hereof, such Holder will forthwith discontinue disposition of
such Registrable Securities covered by such Registration Statement or Prospectus or Exchange Notes
to be sold by such Holder or Participating Broker-Dealer, as the case may be, until such Holder’s
or Participating Broker-Dealer’s receipt of the copies of the supplemented or amended Prospectus
contemplated by Section 5(k) hereof, or until it is advised in writing (the
“Advice”) by the Company or a Guarantor that the use of the applicable Prospectus may be
resumed, and has received copies of any amendments or supplements thereto. In the event that the
Company or a Guarantor shall give any such notice, each of the Applicable Period and the
Effectiveness Period shall be extended by the number of days during such periods from and including
the date of the giving of such notice to and including the date when each seller of Registrable
Securities covered by such Registration Statement or Exchange Notes to be sold by such
Participating Broker-Dealer, as the case may be, shall have received (x) the copies of the
supplemented or amended Prospectus contemplated by Section 5(k) hereof or (y) the Advice.

          6. Registration Expenses.

          All fees and expenses incident to the performance of or compliance with this Agreement by the
Company and the Guarantors of their obligations under Sections 2, 3, 4,
5 and 8 shall be borne by the Company and the Guarantors, whether or not the
Exchange Offer Registration Statement or any Shelf Registration Statement is filed or becomes
effective or the Exchange Offer is consummated, including, without limitation, (i) all registration
and filing fees (including, without limitation, (A) fees with respect to filings required to be
made with FINRA in connection with an underwritten offering and (B) fees and expenses of compliance
with state securities or Blue Sky laws (including, without limitation, reasonable fees and
disbursements of counsel in connection with Blue Sky qualifications of the Registrable Securities
or Exchange Notes and determination of the eligibility of the Registrable Securities or Exchange
Notes for investment under the laws of such jurisdictions in the United States (x) where the
holders of Registrable Securities are located, in the case of the Exchange Notes, or (y) as
provided in Section 5(h) hereof, in the case of Registrable Securities or Exchange Notes to
be sold by a Participating Broker-Dealer during the Applicable Period)), (ii) printing expenses,
including, without limitation, printing prospectuses if the printing of prospectuses is requested
by the

17

 

managing underwriter or underwriters, if any, by the Holders of a majority in aggregate
principal amount of the Registrable Securities included in any Registration Statement or in respect
of Registrable Securities or Exchange Notes to be sold by any Participating Broker-Dealer during
the Applicable Period, as the case may be, (iii) fees and expenses of the Trustee, any exchange
agent and their counsel, (iv) fees and disbursements of counsel for the Company and the Guarantors
and, in the case of a Shelf Registration, reasonable fees and disbursements of one special counsel
for all of the sellers of Registrable Securities selected by the Holder of a majority in aggregate
principal amount of Registrable Securities covered by such Shelf Registration (which counsel shall
be reasonably satisfactory to the Company and the Guarantors) exclusive of any counsel retained
pursuant to Section 7 hereof, (v) fees and disbursements of all independent certified public
accountants referred to in Section 5(m) hereof (including, without limitation, the expenses of any
“cold comfort” letters required by or incident to such performance), (vi) rating agency fees, if
any, and any fees associated with making the Registrable Securities or Exchange Notes eligible for
trading through The Depository Trust Company, (vii) fees and expenses of all other Persons retained
by the Issuer and the Guarantors, and (viii) any fees and expenses incurred in connection with the
listing of the Notes to be registered on any securities exchange, and the obtaining of a rating of
the Notes, in each case, if applicable.

          7. Indemnification and Contribution.

          (a) The Company and each Guarantor, jointly and severally, agrees, to indemnify and hold
harmless each Holder of Registrable Securities, and each Participating Broker-Dealer selling
Exchange Notes during the Applicable Period, and each Person, if any, who controls such Person or
its affiliates within the meaning of Section 15 of the Act or Section 20 of the Exchange Act (each,
a “Participant”) and each Initial Purchaser, to the fullest extent lawful, against any losses,
claims, damages or liabilities, joint or several, to which any Participant may become subject under
the Securities Act, the Exchange Act or otherwise, insofar as any such losses, claims, damages or
liabilities (or actions in respect thereof) arise out of or are based upon:

     (1) any untrue statement or alleged untrue statement of any material fact contained in
any Registration Statement (or any amendment thereto), or Prospectus (as amended or
supplemented if the Company or the Guarantors shall have furnished any amendments or
supplements thereto) or any preliminary prospectus; or

     (2) the omission or alleged omission to state, in any Registration Statement (or any
amendment thereto), or Prospectus (as amended or supplemented if the Company or the
Guarantors shall have furnished any amendments or supplements thereto) or any preliminary
prospectus or any other document or any amendment or supplement thereto, a material fact
required to be stated therein or necessary to make the statements therein not misleading,

except, in each case, insofar as such losses, claims, damages or liabilities are arising out
of or based upon any untrue statement or omission or alleged untrue statement or omission
made in reliance upon and in conformity with any information relating to any Initial
Purchaser or any Holder furnished to the Company or the Guarantors in writing by or through
the Initial Purchasers or any selling Holder expressly for use therein;

18

 

and agree (subject to the limitations set forth in the proviso to this sentence) to reimburse,
as incurred, the Participant for any reasonable legal or other out-of-pocket expenses incurred by
the Participant in connection with investigating, defending against or appearing as a third-party
witness in connection with any such loss, claim, damage, liability or action; provided,
however, the Company and the Guarantors will not be liable in any such case to the extent
that any such loss, claim, damage, or liability arises out of or is based upon any untrue statement
or alleged untrue statement or omission or alleged omission made in any Registration Statement (or
any amendment thereto), or Prospectus (as amended or supplemented if the Company or the Guarantors
shall have furnished any amendments or supplements thereto) or any preliminary prospectus or any
amendment or supplement thereto in reliance upon and in conformity with written information
relating to any Participant furnished to the Company by such Participant or its agent expressly for
use therein. The indemnity provided for in this Section 7 will be in addition to any
liability that the Company and the Guarantors may otherwise have to Participants. Neither the
Company nor any of the Guarantors shall be liable under this Section 7 to any Participant
regarding any settlement or compromise or consent to the entry of any judgment with respect to any
pending or threatened claim, action, suit or proceeding in respect of which indemnification or
contribution may be sought hereunder (whether or not the indemnified parties are actual or
potential parties to such claim or action) unless such settlement, compromise or consent is
consented to by the Company or the Guarantors, which consent shall not be unreasonably withheld.

          (b) Each Participant, severally and not jointly, agrees to indemnify and hold harmless the
Company and the Guarantors, their directors (or equivalent), their officers who sign any
Registration Statement, the Initial Purchasers, and each person, if any, who controls the Company,
any Guarantor or any Initial Purchaser within the meaning of Section 15 of the Act or Section 20 of
the Exchange Act against any losses, claims, damages or liabilities to which the Company or any
Guarantor or any such director, officer or controlling person may become subject under the Act, the
Exchange Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in
respect thereof) arise out of or are based upon (i) any untrue statement or alleged untrue
statement of any material fact contained in any Registration Statement, Prospectus, any amendment
or supplement thereto, or any preliminary prospectus, or (ii) the omission or the alleged omission
to state therein a material fact necessary to make the statements therein not misleading, in each
case to the extent, but only to the extent, that such untrue statement or alleged untrue statement
or omission or alleged omission was made in reliance upon and in conformity with written
information concerning such Participant, furnished to the Company by or on behalf of such
Participant, specifically for use therein; and subject to the limitation set forth immediately
preceding this clause, will reimburse, as incurred, any reasonable legal or other out-of-pocket
expenses incurred by the Company or the Guarantors or any such director, officer or controlling
person in connection with investigating or defending against or appearing as a third party witness
in connection with any such loss, claim, damage, liability or action in respect thereof. The
indemnity provided for in this Section 7 will be in addition to any liability that the
Participants may otherwise have to the indemnified parties.

          (c) Promptly after receipt by an indemnified party under this Section 7 of notice of the
commencement of any action, such indemnified party will, if a claim in respect thereof is to be
made against an indemnifying party under this Section 7, notify the indemnifying party in
writing of the commencement thereof; provided that the failure to so notify the

19

 

indemnifying party will not relieve it from any liability which it may have to any indemnified
party under this Section 7 except to the extent that it has been materially prejudiced by
such failure (through the forfeiture of substantive rights and defenses) and shall not relieve the
indemnifying party from any liability that the indemnifying party may have to an indemnified party
other than under this Section 7. In case any such action is brought against any indemnified
party and such indemnified party seeks or intends to seek indemnity from an indemnifying party, the
indemnifying party will be entitled to participate in and, to the extent that it shall elect,
jointly with all other indemnifying parties similarly notified, by written notice delivered to the
indemnified party promptly after receiving the aforesaid notice from such indemnified party, to
assume the defense thereof with counsel reasonably satisfactory to such indemnified party;
provided, however, if the defendants in any such action include both the
indemnified party and the indemnifying party and the indemnified party shall have reasonably
concluded that a conflict may arise between the positions of the indemnifying party and the
indemnified party in conducting the defense of any such action or that there may be legal defenses
available to it and/or other indemnified parties which are different from or additional to those
available to the indemnifying party, the indemnified party or parties shall have the right to
select separate counsel to assume such legal defenses and to otherwise participate in the defense
of such action on behalf of such indemnified party or parties. Upon receipt of notice from the
indemnifying party to such indemnified party of such indemnifying party’s election so to assume the
defense of such action and approval by the indemnified party of counsel, the indemnifying party
will not be liable to such indemnified party under this Section 7 for any legal or other
expenses subsequently incurred by such indemnified party in connection with the defense thereof
unless (i) the indemnified party shall have employed separate counsel in accordance with the
proviso to the immediately preceding sentence (it being understood, however, that the indemnifying
party shall not be liable for the expenses of more than one separate counsel (together with local
counsel (in each jurisdiction)), which shall be selected by Participants who sold a majority in
interest of the Registrable Securities and/or Exchange Notes, as the case may be, subject to such
litigation sold by all such Participants in the case of paragraph (a) of this Section 7 or
the Company and the Guarantors in the case of paragraph (b) of this Section 7),
representing the indemnified parties who are parties to such action) or (ii) the indemnifying party
shall not have employed counsel satisfactory to the indemnified party to represent the indemnified
party within a reasonable time after notice of commencement of the action, in each of which cases
the fees and expenses of counsel shall be at the expense of the indemnifying party. It is
understood and agreed that the indemnifying person shall not, in connection with any proceeding or
separate but related or substantially similar proceedings in the same jurisdiction arising out of
the same general allegations or circumstances, be liable for the reasonable fees and expenses of
more than one separate firm (in addition to any local counsel) representing the indemnified parties
under paragraph (a) or paragraph (b) of this Section 7, as the case may be, who are parties
to such action or actions. Any such separate firm for any Participants shall be designated in
writing by Participants who sold a majority in interest of the Registrable Securities and Exchange
Notes sold by all such Participants in the case of paragraph (a) 
of this Section 7 or the Company
and the Guarantors in the case of paragraph (b) of this Section 7. In the event that any
Participants are indemnified persons collectively entitled, in connection with a proceeding or
separate but related or substantially similar proceedings in a single jurisdiction, to the payment
of fees and expenses of a single separate firm under this Section 7(c), and any such
Participants cannot agree to a mutually acceptable separate firm to act as counsel thereto, then
such separate firm for all

20

 

such indemnified parties shall be designated in writing by Participants who sold a majority in
interest of the Registrable Securities and Exchange Notes sold by all such Participants.

          (d) The indemnifying party under this Section 7 shall not be liable for any settlement
of any proceeding effected without its written consent, which will not be unreasonably withheld,
but if settled with such consent or if there be a final judgment for the plaintiff, the
indemnifying party agrees to indemnify the indemnified party against any loss, claim, damage,
liability or expense by reason of such settlement or judgment. Notwithstanding the foregoing
sentence, if at any time an indemnified party shall have requested an indemnifying party to
reimburse the indemnified party for fees and expenses of counsel as contemplated by this
Section 7, the indemnifying party agrees that it shall be liable for any settlement of any
proceeding effected without its written consent if (i) such settlement is entered into more than 30
days after receipt by such indemnifying party of the aforesaid request and (ii) such indemnifying
party shall not have reimbursed the indemnified party in accordance with such request prior to the
date of such settlement. No indemnifying party shall, without the prior written consent of the
indemnified party, effect any settlement, compromise or consent to the entry of judgment in any
pending or threatened action, suit or proceeding in respect of which any indemnified party is or
could have been a party and indemnity was or could have been sought hereunder by such indemnified
party, unless such settlement, compromise or consent (i) includes an unconditional release of such
indemnified party from all liability on claims that are the subject matter of such action, suit or
proceeding and (ii) does not include any statements as to or any findings of fault, culpability or
failure to act by or on behalf of any indemnified party.

          (e) In circumstances in which the indemnity agreement provided for in the preceding paragraphs
of this Section 7 is unavailable to, or insufficient to hold harmless, an indemnified party
in respect of any losses, claims, damages or liabilities (or actions in respect thereof) (other
than by virtue of the failure of an indemnified party to notify the indemnifying party of its right
to indemnification pursuant to paragraph (a) or (b) of this Section 7, where such failure
materially prejudices the indemnifying party (through the forfeiture of substantial rights or
defenses)), each indemnifying party, in order to provide for just and equitable contribution, shall
contribute to the amount paid or payable by such indemnified party as a result of such losses,
claims, damages or liabilities (or actions in respect thereof) in such proportion as is appropriate
to reflect (i) the relative benefits received by the indemnifying party or parties on the one hand
and the indemnified party on the other from the offering of the Notes or (ii) if the allocation
provided by the foregoing clause (i) is not permitted by applicable law, not only such relative
benefits but also the relative fault of the indemnifying party or parties on the one hand and the
indemnified party on the other in connection with the statements or omissions or alleged statements
or omissions that resulted in such losses, claims, damages or liabilities (or actions in respect
thereof). The relative benefits received by the Company and the Guarantors on the one hand and such
Participant on the other shall be deemed to be in the same proportion that the total net proceeds
from the offering (before deducting expenses) of the Notes received by the Company bear to the
total discounts and commissions received by such Participant in connection with the sale of the
Notes (or if such Participant did not receive discounts or commissions, the value of the Notes).
The relative fault of the parties shall be determined by reference to, among other things, whether
the untrue or alleged untrue statement of a material fact or the omission or alleged omission to
state a material fact relates to information supplied by the Company and the Guarantors on the one
hand, or the Participants on the other, the parties’ relative intent,

21

 

knowledge, access to information and opportunity to correct or prevent such statement or
omission or alleged statement or omission, and any other equitable considerations appropriate in
the circumstances. The parties agree that it would not be equitable if the amount of such
contribution were determined by pro rata or per capita allocation or by any other method of
allocation that does not take into account the equitable considerations referred to in the first
sentence of this paragraph (e). Notwithstanding any other provision of this paragraph (e), no
Participant shall be obligated to make contributions hereunder that in the aggregate exceed the
total discounts, commissions and other compensation or net proceeds on the sale of Notes received
by such Participant in connection with the sale of the Notes, less the aggregate amount of any
damages that such Participant has otherwise been required to pay by reason of the untrue or alleged
untrue statements or the omissions or alleged omissions to state a material fact, and no person
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be
entitled to contribution from any person who was not guilty of such fraudulent misrepresentation.
For purposes of this paragraph (d), each person, if any, who controls a Participant within the
meaning of Section 15 of the Act or Section 20 of the Exchange Act shall have the same rights to
contribution as the Participants, and each director of the Company or any Guarantor, each officer
of the Company or any Guarantor and each person, if any, who controls the Company or such Guarantor
within the meaning of Section 15 of the Act or Section 20 of the Exchange Act, shall have the same
rights to contribution as the Company or such Guarantor.

          8. Rule 144A.

          The Company and the Guarantors covenant and agree that, for so long as any Registrable
Securities remain outstanding, they will use reasonable best efforts to file the reports required
to be filed by it under the Securities Act and the Exchange Act and the rules and regulations
adopted by the SEC thereunder in a timely manner in accordance with the requirements of the
Securities Act and the Exchange Act and, if at any time the Company or any Guarantor is not
required to file such reports, the Company and the Guarantors will, upon the request of any Holder
or beneficial owner of Registrable Securities, make available such information necessary to permit
sales pursuant to Rule 144A.

          9. Underwritten Registrations.

          The Company and the Guarantors shall not be required to assist in an underwritten offering
unless requested by the Holders of a majority in aggregate principal amount of the Registrable
Securities. If any of the Registrable Securities covered by any Shelf Registration are to be sold
in an underwritten offering, the investment banker or investment bankers and manager or managers
that will manage the offering will be selected by the Holders of a majority in aggregate principal
amount of such Registrable Securities included in such offering and shall be reasonably acceptable
to the Company and the Guarantors.

          No Holder of Registrable Securities may participate in any underwritten registration hereunder
unless such Holder (a) agrees to sell such Holder’s Registrable Securities on the basis provided in
any underwriting arrangements approved by the Persons entitled hereunder to approve such
arrangements and (b) completes and executes all questionnaires, powers of attorney, indemnities,
underwriting agreements and other documents required under the terms of such underwriting
arrangements.

22

 

          10. Miscellaneous.

          (a) No Inconsistent Agreements. The Company and the Guarantors have not as of the date
hereof, and the Company and the Guarantors shall not, after the date of this Agreement, enter into
any agreement with respect to any of their securities that is inconsistent with the rights granted
to the Holders of Registrable Securities in this Agreement or otherwise conflicts with the
provisions hereof. The rights granted to the Holders hereunder do not in any way conflict with and
are not inconsistent with the rights granted to the holders of the Company’s and Guarantors’ other
issued and outstanding securities under any agreement in effect on the date hereof.

          (b) Adjustments Affecting Registrable Securities. The Company and the Guarantors shall
not, directly or indirectly, take any action with respect to the Registrable Securities as a class
that would adversely affect the ability of the Holders of Registrable Securities to include such
Registrable Securities in a registration undertaken pursuant to this Agreement.

          (c) Amendments and Waivers. The provisions of this Agreement may not be amended,
modified or supplemented, and waivers or consents to departures from the provisions hereof may not
be given, otherwise than with the prior written consent of (I) the Company and the Guarantors, and
(II) (A) the Holders of not less than a majority in aggregate principal amount of the then
outstanding Registrable Securities and (B) in circumstances that would adversely affect the
Participating Broker-Dealers, the Participating Broker-Dealers holding not less than a majority in
aggregate principal amount of the Exchange Notes held by all Participating Broker-Dealers;
provided, however, that Section 7 and this Section 10(c) may not be
amended, modified or supplemented without the prior written consent of each Holder and each
Participating Broker-Dealer (including any person who was a Holder or Participating Broker-Dealer
of Registrable Securities or Exchange Notes, as the case may be, disposed of pursuant to any
Registration Statement) adversely affected by any such amendment, modification or supplement.
Notwithstanding the foregoing, a waiver or consent to depart from the provisions hereof with
respect to a matter that relates exclusively to the rights of Holders of Registrable Securities
whose securities are being sold or tendered pursuant to a Registration Statement and that does not
directly or indirectly affect, impair, limit or compromise the rights of other Holders of
Registrable Securities may be given by Holders of at least a majority in aggregate principal amount
of the Registrable Securities being sold or tendered pursuant to such Registration Statement.

          (d) Notices. All notices and other communications (including, without limitation, any
notices or other communications to the Trustee) provided for or permitted hereunder shall be made
in writing by hand-delivery, registered first-class mail, next-day air courier or facsimile:

     (1) if to a Holder of the Registrable Securities, or any Participating Broker-Dealer,
at the most current address of such Holder, or Participating Broker-Dealer, as the case may
be, set forth on the records of the registrar under the Indenture, with a copy in like
manner to the Initial Purchasers as follows:

23

 

Merrill Lynch, Pierce, Fenner & Smith Incorporated

One Bryant Park

New York, New York 10036

Facsimile: (212) 901-7897

Attention: Legal Department

Morgan Stanley & Co. Incorporated

1585 Broadway

New York, New York 10036

Attention: Whitner H. Marshall

cc: Legal Department

Wells Fargo Securities, LLC

One Wachovia Center

301 South College Street

Charlotte, North Carolina 28288-0737

Attention: Suzanne Alwan

with a copy to:

Simpson Thacher & Bartlett LLP

425 Lexington Avenue

New York, New York 10017

Facsimile: (212) 455-2502

Attention: Lesley Peng

(2) if to the Initial Purchasers, at the address specified in Section 10(d)(i);

(3) if to the Company or the Guarantors, at the address as follows:

Swift Services Holdings, Inc.

c/o Swift Transportation Company

2200 S. 75th Ave.

Phoenix, AZ 85403

Facsimile: (623) 907-7464

Attention: James Fry

with copies to:

Scudder Law Firm, P.C., L.L.O.

411 South 13th St., 2nd Floor

Lincoln, NE 68508

Facsimile: (402) 435-3223

Attention: Earl Scudder

Skadden, Arps, Slate, Meagher & Flom LLP

Four Times Square

New York, NY 10036

Facsimile: (917) 777-4112

Attention: Richard Aftanas

24

 

          All such notices and communications shall be deemed to have been duly given when delivered by
hand, if personally delivered; five Business Days after being deposited in the mail, postage
prepaid, if mailed; one Business Day after being timely delivered to a next-day air courier; and
upon written confirmation, if sent by facsimile.

          Copies of all such notices, demands or other communications shall be concurrently delivered by
the Person giving the same to the Trustee at the address and in the manner specified in such
Indenture.

          (e) Successors and Assigns. This Agreement shall inure to the benefit of and be
binding upon the successors and assigns of each of the parties hereto, the Holders and the
Participating Broker-Dealers; provided, however, that nothing herein shall be deemed to permit any
assignment, transfer or other disposition of Registrable Securities in violation of the terms of
the Purchase Agreement or the Indenture.

          (f) Counterparts. This Agreement may be executed in any number of counterparts and by
the 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.

          (g) Headings. The headings in this Agreement are for convenience of reference only,
are not a part of this Agreement and shall not limit or otherwise affect the meaning hereof.

          (h) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK, AS APPLIED TO CONTRACTS MADE AND PERFORMED ENTIRELY WITHIN
THE STATE OF NEW YORK. EACH OF THE PARTIES HEREBY WAIVE ANY RIGHT TO TRIAL BY JURY IN ANY ACTION,
PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT.

          (i) Severability. If any term, provision, covenant or restriction of this Agreement is
held by a court of competent jurisdiction to be invalid, illegal, void, unenforceable or against
public policy, the remainder of the terms, provisions, covenants and restrictions set forth herein
shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and
the parties hereto shall use their best efforts to find and employ an alternative means to achieve
the same or substantially the same result as that contemplated by such term, provision, covenant or
restriction. It is hereby stipulated and declared to be the intention of the parties that they
would have executed the remaining terms, provisions, covenants and restrictions without including
any of such that may be hereafter declared invalid, illegal, void or unenforceable.

          (j) Notes Held by the Company or its Affiliates. Whenever the consent or approval of
Holders of a specified percentage of Registrable Securities is required hereunder, Registrable
Securities held by the Company or its affiliates (as such term is defined in Rule 405

25

 

under the Securities Act) shall not be counted in determining whether such consent or approval
was given by the Holders of such required percentage.

          (k) Third-Party Beneficiaries. Holders of Registrable Securities and Participating
Broker-Dealers are intended third-party beneficiaries of this Agreement, and this Agreement may be
enforced by such Persons.

          (l) Entire Agreement. This Agreement, together with the Purchase Agreement and the
Indenture, is intended by the parties as a final and exclusive statement of the agreement and
understanding of the parties hereto in respect of the subject matter contained herein and therein
and any and all prior oral or written agreements, representations, or warranties, contracts,
understandings, correspondence, conversations and memoranda between the Holders on the one hand and
the Company and the Guarantors on the other, or between or among any agents, representatives,
parents, subsidiaries, affiliates, predecessors in interest or successors in interest with respect
to the subject matter hereof and thereof are merged herein and replaced hereby.

26

 

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

	 	 	 	 	 
	 	SWIFT SERVICES HOLDINGS, INC.

 	 
	 	By:  	/s/ Jerry Moyes
 	 
	 	 	Jerry Moyes 	 
	 	 	Chief Executive Officer 	 
	 
	 	SWIFT TRANSPORTATION COMPANY

COMMON MARKET EQUIPMENT CO., LLC

ESTRELLA DISTRIBUTING LLC

INTERSTATE EQUIPMENT LEASING, LLC

M.S. CARRIERS, LLC

SPARKS FINANCE LLC

SWIFT INTERMODAL, LLC

SWIFT LEASING CO., LLC

SWIFT TRANSPORTATION CO., LLC

SWIFT TRANSPORTATION CO. OF ARIZONA, LLC

SWIFT TRANSPORTATION CO. OF VIRGINIA, LLC

SWIFT TRANSPORTATION SERVICES, LLC,

as Guarantors

 	 
	 	By:  	/s/ Jerry Moyes
 	 
	 	 	Jerry Moyes 	 
	 	 	Chief Executive Officer 	 
	 

Signature Page to Registration Rights Agreement

 

 

					
	 	

The foregoing Agreement is hereby

confirmed and accepted as of the

date first above written.

MERRILL LYNCH, PIERCE, FENNER &

  SMITH INCORPORATED

 	 
	 	By:  	/s/ Loli Wu
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	MORGAN STANLEY & CO. INCORPORATED

 	 
	 	By:  	/s/ Kenneth G. Pott
 	 
	 	 	Name:  	Kenneth G. Pott 	 
	 	 	Title:  	Managing Director 	 
	 
	 	WELLS FARGO SECURITIES, LLC

 	 
	 	By:  	/s/ Eric H. Schless
 	 
	 	 	Name:  	Eric H. Schless 	 
	 	 	Title:  	Managing Director 	 
	 

For Themselves and the other several Initial Purchasers

Signature Page to Registration Rights Agreement

 

 

SCHEDULE A

Initial Guarantors

Swift Transportation Company

Common Market Equipment Co., LLC

Estrella Distributing LLC

Interstate Equipment Leasing, LLC

M.S. Carriers, LLC

Sparks Finance LLC

Swift Intermodal, LLC

Swift Leasing Co., LLC

Swift Transportation Co., LLC

Swift Transportation Co. of Arizona, LLC

Swift Transportation Co. of Virginia, LLC

Swift Transportation Services, LLC

 

 

SCHEDULE B

Initial Purchasers

Merrill Lynch, Pierce, Fenner & Smith Incorporated

Morgan Stanley & Co. Incorporated

Wells Fargo Securities, LLC

Citigroup Global Markets Inc.

Deutsche Bank Securities Inc.

UBS Securities, LLC

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