Document:

EX-4.29

Exhibit 4.29

English Translation of Chinese Original

Subscription Agreement

between

China National Petroleum Corporation

And

PetroChina Company Limited

And

China Petroleum Finance Company Limited

Dated March 25, 2010

1

 

This agreement (this “Agreement”) is entered into by and among the following parties on March 25,
2010 in Beijing:

Party A: China National Petroleum Corporation, a state-owned enterprise established and existing
under the laws of the People’s Republic of China (“PRC”), with its registered office at Liupukang,
Xicheng District, Beijing;

Party B: PetroChina Company Limited, a joint stock company established and existing under the PRC
law, with its registered office at 16 Ande Road, Dongcheng District, Beijing; and

Party C: China Petroleum Finance Company Limited, a company with limited liability established and
existing under the laws of the People’s Republic of China, with its registered office at 5 Gulouwai
Dajie, Xicheng District, Beijing.

For purpose of this Agreement, Party A, Party B and Party C, shall collectively be referred to as
the “Parties” and each a “Party”. Upon friendly negotiation, the Parties reach an agreement with
respect to Party B’s increase of its investment in cash to Party C.

NOW THEREFORE, for purpose of specifying the rights and obligations of the Parties, the Parties
hereby enter into this Agreement.

Article 1 Definitions

“Capital Increase” means the contribution of RMB 9.618 billion in cash by Party B to subscribe for
Party C’s additional registered capital in the amount of RMB 2.441 billion, with the rest amount of
RMB 7.177 billion to be recorded as the capital reserve of Party C.

“Base Date” means the audit and valuation base date for this Capital Increase, which is June 30,
2009.

“Contingent Liabilities” means liabilities of Party C resulted from any of its discounted
commercial acceptance bills, any pending litigation or arbitration, any administrative penalties,
claims or the assumption of any guarantee provided for any third party.

“Asset Valuation Report” means the Asset Valuation Report on the Capital Increase Project of China
Petroleum Finance Company Limited numbered Zhong Feng Ping Bao Zi (2009) No. 021 issued by Beijing
Zhongfeng Asset Valuation Co., Ltd. on December 10, 2009.

“Closing Date” means the date determined in accordance with Article 4.1 of this Agreement on which
Party B pays the amount of the additional capital contribution to Party C upon the satisfaction of
the conditions precedent to the Capital Increase.

“Transitional Period” means the period from the Base Date to the Closing Date.

“Day” means a calendar day.

“Business Day” means any day that is not a Saturday, a Sunday, a PRC public holiday or any other
day on which banks are required or authorized by PRC law to be closed.

“RMB” means Renminbi.

Article 2 Capital Increase

2

 

2.1 The Parties agree that the total amount of the additional capital contribution invested by
Party B shall be RMB 9.618 billion, of which RMB 2.441 billion shall be recorded as the registered
capital and RMB 7.177 billion shall be recorded as the capital reserve, and Party B shall make all
such contribution in cash.

2.2 The pricing of the Capital Increase shall be determined by the Parties through consultation on
the basis of fairness and equality, by reference to Party C’s total shareholders’ interests as of
the Base Date and the total amount of registered capital of Party C prior to the Capital Increase,
in each case, set forth under the Asset Valuation Report.

2.3 Upon the completion of the Capital Increase, the registered capital of Party C will be
increased from RMB 3 billion to RMB 5.441 billion, and the shareholding percentage of Party A and
Party B will be respectively changed from 92.5% to 51% and 7.5% to 49% respectively.

Article 3 Condition Precedent to the Capital Increase

3.1 Party B shall pay Party C the amount of additional capital contribution upon the satisfaction
of the following conditions precedent:

3.1.1 The Capital Increase has been effectively approved by the internal competent decision-making
authority of both Party A and Party B;

3.1.2 The Capital Increase, including, but not limited to (i) the capital increase proposal; (ii)
change of the registered capital, shareholding structure and amendment of the articles of
association; and (iii) any other matters related to the Capital Increase, has been effectively
approved by the internal competent decision-making authority of Party C;

3.1.3 The Capital Increase has been approved by the competent banking regulatory authority;

3.1.4 The covenants, representations and warranties made by the Parties hereunder shall be true and
accurate.

3.2 The Parties shall make best efforts to satisfy the above conditions precedent as soon as
possible, and shall timely notify the other Parties of the progress of such conditions precedent
during the process of achieving the same. Each of the Parties agree to provide with other Parties
documents and materials reasonably required by such other Parties in the performance of their
obligations under the conditions precedent.

Article 4 Contribution of Additional Capital, Capital Verification

and Registration of the Changes with AIC

4.1 Party B shall remit the amount of additional capital contribution in a lump sum to the account
designated by Party C within fifteen (15) Business Days from the satisfaction by Party B of the
conditions precedent hereunder.

4.2 The Parties agree that upon the remittance by Party B of the amount of additional capital
contribution, Party C shall be responsible to retain an accounting firm with required qualification
to conduct capital verification and issue a capital verification report within three (3) Business
Days from the date the designated account of Party C receives the amount of additional capital
contribution from Party B.

3

 

4.3 Upon the remittance by Party B of the amount of additional capital contribution to the account
designated by Party C, Party C shall, at its own expense, perform the required formalities with
competent administration of industry and commerce (“AIC”) with respect to the registration of the
capital increase. Party A and Party B shall use their best efforts to cooperate with Party C to
complete such registration as soon as possible.

Article 5 Capital Contribution Certificate and Shareholder Register

Party C shall issue new capital contribution certificates and prepare a new shareholder register
based on the actual amount of capital contribution from Party A and Party B, in accordance with the
PRC Company Law, other relevant laws and regulations and the provisions hereunder.

Article 6 Arrangements during the Transitional Period

6.1 The Parties agree that the losses and profits of Party C during the Transitional Period shall
be assumed by Party A and Party B based on the proportion of their respective shareholding in Party
C prior to the Capital Increase.

6.2 The Parties agree that the losses and profits of Party C incurred after the Closing Date
(including the Closing Date) shall be assumed by Party A and Party B based on the proportion of
their respective shareholding in Party C after the Capital Increase.

6.3 (i) Any Contingent Liabilities incurred prior to the Closing Date, and (ii) any operating
losses incurred prior to the Closing Date which have not been provided against prior to the Closing
Date, shall be assumed by Party A and Party B based on the proportion of their respective
shareholding prior to the Capital Increase.

Article 7 Representations and Warranties of the Parties

7.1 The Parties to this Agreement (i) are independent legal persons established and existing under
the PRC law; (ii) are not subject to any wind-up or dissolution under applicable laws, regulations,
rules, regulatory documents or their respective articles of association; and (iii) have independent
legal standing and full civil capacity.

7.2 The execution and performance by each of the Parties of this Agreement neither violate any
laws, regulations, rules or any governmental authorization or approval nor conflict with any
contract or agreement to which it is a party or its assets is subject.

7.3 The execution and performance of this Agreement does not violate any other legal obligations of
each of the Parties.

Article 8 Liability for Breach of Agreement

The Parties shall perform this Agreement in good faith. In case the purpose of this Agreement
fails to be achieved due to any failure of either Party to perform its obligations hereunder, the
defaulting Party shall compensate the other Parties for any financial losses arising therefrom.

4

 

Article 9 Amendment

This Agreement may not be amended or modified except by an instrument in writing signed by the
Parties upon mutual agreement.

Article 10 Governing Law

The formation, effectiveness and construction of, and the resolution of the disputes in connection
with this Agreement shall be governed by the PRC law.

Article 11 Dispute Resolution

Any dispute arising out of or in connection with this Agreement shall be resolved by the Parties
through friendly negotiation. In case of failure of such negotiation, either Party may refer such
dispute to China International Economic and Trade Arbitration Commission (the “CIETAC”) for
arbitration in Beijing in accordance with the then effective arbitration rule of CIETAC. The
arbitral award shall be final and binding upon the Parties.

Article 12 Confidentiality

Except any disclosure required by laws, administrative regulations, governmental authorities or any
other regulatory authorities, neither Party may disclose this Agreement and any confidential
information to any third party without consent of other Parties, provided that the Parties may
disclose the same to their respective shareholders, counsel and financial advisor.

Article 13 Notification

13.1 All notices shall be in writing and shall be given by facsimile, email, mail or via personal
delivery to the Parties at the following addresses, together with sufficient explanation and/or
details regarding the matters set forth therein.

If to Party A:

9 Dongzhimen North Avenue,

Dongcheng District,

Beijing, 100007

Attention: Wu, Xiaochun

Tel: 010-5998 3132

Fax: 010-6209 4567

If to Party B:

9 Dongzhimen North Avenue,

Dongcheng District,

Beijing, 100007

Attention: Li, Jian

Tel: 010-5998 6755

Fax: 010-6209 9437

5

 

If to Party C:

9 Dongzhimen North Avenue,

Dongcheng District,

Beijing, 100007

Attention: Wu, Lincai Liu, Chang

Tel: 010-5998 3676  010-5998 3609

Fax: 010-6209 6988  010-6209 6991

13.2 Any such notices given by facsimile, email or via person delivery shall be deemed duly
delivered on the date of sending or delivery, unless the other Party provides contrary evidence
proofing that it does not receive such notices.

13.3 Any such notices given by mail shall be deemed duly delivered three Business Days after the
date it is consigned to the post office, unless the other Party provides contrary evidence proofing
that it does not receive such notices.

13.4 In case of any change of the contact information of either Party hereto, such Party shall
notify the other Parties with five Business Days notice in writing.

Article 14 Force Majeure

14.1 In case of any unforeseeable or unavoidable event, including but not limited to, earthquake,
typhoon, flood, fire and war (“Force Majeure Event”), which makes it impossible for the affected
Party to perform this Agreement or to perform this Agreement in accordance with the terms and
conditions agreed hereunder, the Parties shall determine whether to terminate this Agreement or
partially release the affected Party from performing its obligations hereunder, or delay the
performance of this Agreement.

14.2 In the event that it is impossible for the Parties to perform this Agreement or to perform
this Agreement in accordance with the terms and conditions agreed hereunder due to change of
applicable laws or policies of the State, the Parties shall consult with each other on whether to
terminate this Agreement or partially release the Parties from their obligations hereunder.

14.3 The Party affected by the Force Majeure Event shall immediately notify the other Party of such
Force Majeure Event and provide, within 15 days from the occurrence of such event, a valid document
proving the occurrence of the same. Such documents shall be issued by a notary public located at
the place where the Force Majeure Event happens.

Article 15 Effectiveness and Other Provisions

15.1 This Agreement shall become effective after (i) being executed by the Parties and (ii) the
Parties obtain all the necessary corporate authorization and approval for the execution and
performance of the same.

15.2 This Agreement shall be executed in twelve copies, with each of the Parties to hold two, and
the remaining copies for the performance of relevant formalities, and each of the copy shall have
the same legal effect.

[end of text]

6

 

[Signature Page]

Party A: China National Petroleum Corporation

Legal representative or authorized representative: /s/

(signature and corporate seal)

Party B: PetroChina Company Limited

Legal representative or authorized representative: /s/

(signature and corporate seal)

Party C: China Petroleum Finance Company Limited

Legal representative or authorized representative: /s/

(signature and corporate seal)

7exv4w1

Exhibit 4.1

EXECUTION COPY

 

CREDIT AGREEMENT

dated as of

June 21, 2010

among

MASCO CORPORATION

and

MASCO EUROPE S.À.R.L.

as Borrowers

The Lenders Party Hereto

JPMORGAN CHASE BANK, N.A.

as Administrative Agent

CITIBANK, N.A.

as Syndication Agent

and

ROYAL BANK OF CANADA, WELLS FARGO BANK, N.A. and DEUTSCHE BANK AG

NEW YORK BRANCH

as Co-Documentation Agents

 

J.P. MORGAN SECURITIES INC.

and

CITIGROUP GLOBAL MARKETS INC.,

as Joint Bookrunners and Joint Lead Arrangers

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	ARTICLE I Definitions
	 	 	1	 
	 
	 	 	 	 
	SECTION 1.01. Defined Terms
	 	 	1	 
	SECTION 1.02. Classification of Loans and Borrowings
	 	 	21	 
	SECTION 1.03. Terms Generally
	 	 	21	 
	SECTION 1.04. Accounting Terms; GAAP
	 	 	21	 
	 
	 	 	 	 
	ARTICLE II The Credits
	 	 	22	 
	 
	 	 	 	 
	SECTION 2.01. Commitments
	 	 	22	 
	SECTION 2.02. Revolving Loans and Borrowings
	 	 	22	 
	SECTION 2.03. Requests for Revolving Borrowings
	 	 	23	 
	SECTION 2.04. Determination of Dollar Amounts
	 	 	23	 
	SECTION 2.05. Swingline Loans
	 	 	24	 
	SECTION 2.06. Letters of Credit
	 	 	26	 
	SECTION 2.07. Funding of Borrowings
	 	 	31	 
	SECTION 2.08. Interest Elections for Revolving Borrowings
	 	 	31	 
	SECTION 2.09. Termination and Reduction of Commitments; Termination of Facility
	 	 	33	 
	SECTION 2.10. Repayment of Loans; Evidence of Debt
	 	 	34	 
	SECTION 2.11. Prepayment of Loans
	 	 	34	 
	SECTION 2.12. Fees
	 	 	35	 
	SECTION 2.13. Interest
	 	 	36	 
	SECTION 2.14. Alternate Rate of Interest
	 	 	37	 
	SECTION 2.15. Increased Costs
	 	 	38	 
	SECTION 2.16. Break Funding Payments
	 	 	39	 
	SECTION 2.17. Taxes
	 	 	39	 
	SECTION 2.18. Payments Generally; Pro Rata Treatment; Sharing of Set-offs
	 	 	41	 
	SECTION 2.19. Mitigation Obligations; Replacement of Lenders
	 	 	43	 
	SECTION 2.20. Expansion Option
	 	 	44	 
	SECTION 2.21. Market Disruption
	 	 	45	 
	SECTION 2.22. Judgment Currency
	 	 	46	 
	SECTION 2.23. Liability of Foreign Subsidiary Borrower
	 	 	46	 
	SECTION 2.24. Defaulting Lenders
	 	 	47	 
	 
	 	 	 	 
	ARTICLE III Representations and Warranties
	 	 	48	 
	 
	 	 	 	 
	SECTION 3.01. Corporate Existence and Power
	 	 	48	 
	SECTION 3.02. Corporate and Governmental Authorization; No Contravention; Filing; No Immunity
	 	 	48	 
	SECTION 3.03. Binding Effect
	 	 	49	 
	SECTION 3.04. Financial Information
	 	 	49	 
	SECTION 3.05. Litigation
	 	 	50	 
	SECTION 3.06. Compliance with ERISA
	 	 	50	 

 

 

Table of Contents
(continued)

	 	 	 	 	 
	 	 	Page	 
	SECTION 3.07. Environmental Matters
	 	 	50	 
	SECTION 3.08. Taxes
	 	 	51	 
	SECTION 3.09. Not an Investment Company
	 	 	51	 
	SECTION 3.10. Compliance with Laws
	 	 	51	 
	SECTION 3.11. Foreign Employee Benefit Matters
	 	 	51	 
	SECTION 3.12. Properties
	 	 	51	 
	SECTION 3.13. Disclosure
	 	 	51	 
	SECTION 3.14. Federal Reserve Regulations
	 	 	52	 
	SECTION 3.15. No Default
	 	 	52	 
	 
	 	 	 	 
	ARTICLE IV Conditions
	 	 	52	 
	 
	 	 	 	 
	SECTION 4.01. Effective Date
	 	 	52	 
	SECTION 4.02. Each Credit Event
	 	 	53	 
	 
	 	 	 	 
	ARTICLE V Covenants
	 	 	54	 
	 
	 	 	 	 
	SECTION 5.01. Information
	 	 	54	 
	SECTION 5.02. Existence; Conduct of Business
	 	 	56	 
	SECTION 5.03. Compliance with Laws
	 	 	56	 
	SECTION 5.04. Use of Proceeds
	 	 	56	 
	SECTION 5.05. Maintenance of Properties; Insurance
	 	 	56	 
	SECTION 5.06. Books and Records; Inspection
	 	 	56	 
	SECTION 5.07. Financial Covenants
	 	 	57	 
	SECTION 5.08. Limitations on Subsidiary Debt
	 	 	57	 
	SECTION 5.09. Negative Pledge
	 	 	58	 
	SECTION 5.10. Consolidations, Mergers and Sale of Assets
	 	 	59	 
	SECTION 5.11. Investments
	 	 	59	 
	 
	 	 	 	 
	ARTICLE VI Events of Default
	 	 	60	 
	 
	 	 	 	 
	SECTION 6.01. Events of Default
	 	 	60	 
	 
	 	 	 	 
	ARTICLE VII The Administrative Agent
	 	 	63	 
	 
	 	 	 	 
	ARTICLE VIII Miscellaneous
	 	 	65	 
	 
	 	 	 	 
	SECTION 8.01. Notices
	 	 	65	 
	SECTION 8.02. Waivers; Amendments
	 	 	66	 
	SECTION 8.03. Expenses; Indemnity; Damage Waiver
	 	 	67	 
	SECTION 8.04. Successors and Assigns
	 	 	69	 
	SECTION 8.05. Survival
	 	 	72	 
	SECTION 8.06. Counterparts; Integration; Effectiveness
	 	 	72	 

ii

 

Table of Contents
(continued)

	 	 	 	 	 
	 	 	Page	 
	SECTION 8.07. Severability
	 	 	72	 
	SECTION 8.08. Right of Setoff
	 	 	72	 
	SECTION 8.09. Governing Law; Jurisdiction; Consent to Service of Process
	 	 	73	 
	SECTION 8.10. WAIVER OF JURY TRIAL
	 	 	74	 
	SECTION 8.11. Headings
	 	 	74	 
	SECTION 8.12. Confidentiality
	 	 	74	 
	SECTION 8.13. USA PATRIOT Act
	 	 	74	 
	 
	 	 	 	 
	ARTICLE IX Company Guarantee
	 	 	75	 

iii

 

Table of Contents
(continued)

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	SCHEDULES:
	 	 	 	 
	 
	 	 	 	 
	Schedule 2.01
	 	—	 	Commitments
	Schedule 2.02
	 	—	 	Mandatory Cost
	Schedule 2.06
	 	—	 	Existing Letters of Credit
	 
	 	 	 	 
	EXHIBITS:
	 	 	 	 
	 
	 	 	 	 
	Exhibit A
	 	—	 	Form of Assignment and Assumption
	Exhibit B-1
	 	—	 	Form of Opinions of Borrowers’ U.S. Counsel
	Exhibit B-2
	 	—	 	Form of Opinion of the Foreign Subsidiary Borrower’s Counsel
	Exhibit C
	 	—	 	Form of Increasing Lender Supplement
	Exhibit D
	 	—	 	Form of Augmenting Lender Supplement
	Exhibit E
	 	—	 	List of Closing Documents

iv

 

          CREDIT AGREEMENT (this “Agreement”) dated as of June 21, 2010 among MASCO
CORPORATION, MASCO EUROPE S.À.R.L., the LENDERS from time to time party hereto, JPMORGAN CHASE
BANK, N.A., as Administrative Agent, CITIBANK, N.A., as Syndication Agent and ROYAL BANK OF CANADA,
WELLS FARGO BANK, N.A. and DEUTSCHE BANK AG NEW YORK BRANCH, as Co-Documentation Agents.

          The parties hereto agree as follows:

ARTICLE I

Definitions

          SECTION 1.01. Defined Terms. As used in this Agreement, the following terms have the
meanings specified below:

          “ABR”, when used in reference to any Loan or Borrowing, refers to a Loan, or the Loans
comprising such Borrowing, bearing interest at a rate determined by reference to the Alternate Base
Rate.

          “Acquired Debt” means, with respect to any Person which previously became or hereafter
becomes a Subsidiary, Debt of such Person which was outstanding before such Person became a
Subsidiary and which was not created in contemplation of such Person becoming a Subsidiary;
provided that such Debt shall no longer constitute “Acquired Debt” at any time that is more
than ninety days after such Person becomes a Subsidiary.

          “Adjusted LIBO Rate” means, with respect to any Eurocurrency Borrowing for any
Interest Period, an interest rate per annum equal to the sum of (i) (a) the LIBO Rate for such
Interest Period multiplied by (b) the Statutory Reserve Rate plus (ii) without duplication,
and only in the case of Loans by a Lender from its office or branch in the United Kingdom, the
Mandatory Cost.

          “Administrative Agent” means JPMorgan Chase Bank, N.A. (including its branches and
affiliates), in its capacity as administrative agent for the Lenders hereunder.

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

          “Affiliate” means, with respect to a specified Person, another Person that directly,
or indirectly through one or more intermediaries, Controls or is Controlled by or is under common
Control with the Person specified.

          “Affiliated Entity” means at any date a Person (other than a Consolidated Subsidiary)
whose earnings or losses (or the appropriate proportionate share thereof) would be included in
determining the Consolidated Net Income of the Company and its Consolidated Subsidiaries for a
period ending on such date under the equity method of accounting for investments in common stock
(and certain other investments).

          “Aggregate Commitment” means the aggregate of the Commitments of all of the Lenders,
as reduced or increased from time to time pursuant to the terms and conditions hereof. As of the
Effective Date, the Aggregate Commitment is $1,250,000,000.

 

 

          “Agreed Currencies” means (a) with respect to Revolving Loans, (i) Dollars and (ii)
euro, (b), with respect to Swingline Loans, (i) Dollars, (ii) euro, (iii) Pounds Sterling, (iv)
Danish Kroner, (v) Canadian Dollars and (vi) any other foreign currency agreed to by the
Administrative Agent and the Swingline Lender, and (c) with respect to any Letter of Credit
(subject to the limitations in the definition of Issuing Bank) (i) Dollars, (ii) euro, (iii) Pounds
Sterling, (iv) Danish Kroner, (v) Canadian Dollars and (vi) any other foreign currency agreed to by
the Administrative Agent and the applicable Issuing Bank.

          “Alternate Base Rate” means, for any day, a rate per annum equal to the greatest of
(a) the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such
day plus 1/2 of 1% and (c) the Adjusted LIBO Rate for a one month Interest Period on such day (or if
such day is not a Business Day, the immediately preceding Business Day) plus 1%, provided
that, for the avoidance of doubt, the Adjusted LIBO Rate for any day shall be based on the rate
appearing on Reuters Screen LIBOR01 Page (or on any successor or substitute page of such page) at
approximately 11:00 a.m. London time on such day. Any change in the Alternate Base Rate due to a
change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate shall be
effective from and including the effective date of such change in the Prime Rate, the Federal Funds
Effective Rate or the Adjusted LIBO Rate, respectively.

          “Applicable Percentage” means, with respect to any Lender, the percentage of the
Aggregate Commitment represented by such Lender’s Commitment; provided that, in the case of
Section 2.24 when a Defaulting Lender shall exist, “Applicable Percentage” shall mean the
percentage of the Aggregate Commitment (disregarding any Defaulting Lender’s Commitment)
represented by such Lender’s Commitment. If the Commitments have terminated or expired, the
Applicable Percentages shall be determined based upon the Commitments most recently in effect,
giving effect to any assignments and to any Lender’s status as a Defaulting Lender at the time of
determination.

          “Applicable Rate” means, for any day, with respect to any Eurocurrency Revolving Loan
or any ABR Revolving Loan or with respect to the facility fees payable hereunder, as the case may
be, the applicable rate per annum set forth below under the caption “Eurocurrency Spread”, “ABR
Spread” or “Facility Fee Rate”, as the case may be, based upon the ratings by Moody’s and S&P,
respectively, applicable on such date to the Index Debt:

	 	 	 	 	 	 	 	 	 
	 	 	Index Debt Ratings	 	Eurocurrency	 	ABR	 	Facility Fee
	 	 	(Moody’s/S&P):	 	Spread	 	Spread	 	Rate
	Category 1	 	A3 or A- or higher
	 	1.60%	 	0.60%	 	0.15%
	Category 2	 	Baa1 or BBB+
	 	1.80%	 	0.80%	 	0.20%
	Category 3	 	Baa2 or BBB
	 	2.00%	 	1.00%	 	0.25%
	Category 4	 	Baa3 or BBB-
	 	2.15%	 	1.15%	 	0.35%
	Category 5	 	Ba1 or BB+ or lower
	 	2.25%	 	1.25%	 	0.50%

     For purposes of, and notwithstanding, the foregoing,

     (a) the credit rating in effect on any date for purposes of this definition is that in
effect at the close of business on such date;

     (b) if neither Moody’s nor S&P shall have in effect a rating for the Index Debt (other
than by reason of the circumstances referred to in the last sentence of this definition),
then Category 5 shall be applicable (it being understood and agreed that in the event that
only one of

2

 

Moody’s and S&P issues a rating for the Index Debt, such rating shall determine
the Eurocurrency Spread, the ABR Spread and the Facility Fee Rate); and

     (c) if the ratings established or deemed to have been established by Moody’s and S&P
for the Index Debt shall fall within different Categories, the Applicable Rate shall be
based on the higher of the two ratings; provided, that if the split is greater than
one ratings category, then the Category shall be based upon the rating that is one ratings
category above the lower of the two ratings.

          On the Effective Date, the Applicable Rate shall be determined based on Category 5. Each
change in the Applicable Rate shall apply during the period commencing on the effective date of
such change and ending on the date immediately preceding the effective date of the next such
change. If the rating system of Moody’s or S&P shall change, or if either such rating agency shall
cease to be in the business of rating corporate debt obligations, the Company and the Lenders shall
negotiate in good faith to amend this definition to reflect such changed rating system or the
unavailability of ratings from such rating agency and, pending the effectiveness of any such
amendment, the Applicable Rate shall be determined by reference to the rating most recently in
effect prior to such change or cessation.

          “Approved Fund” has the meaning assigned to such term in Section 8.04.

          “Assignment and Assumption” means an assignment and assumption agreement entered into
by a Lender and an assignee (with the consent of any party whose consent is required by Section
8.04), and accepted by the Administrative Agent, in substantially the form of Exhibit A or
any other form approved by the Administrative Agent.

          “Augmenting Lender” has the meaning assigned to such term in Section 2.20.

          “Availability Period” means the period from and including the Effective Date to but
excluding the earlier of the Maturity Date and the date of termination of the Commitments.

          “Bankruptcy Event” means, with respect to any Person, such Person becomes the subject
of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee,
administrator, custodian, assignee for the benefit of creditors or similar Person charged with the
reorganization or liquidation of its business appointed for it, or, in the good faith determination
of the Administrative Agent, has taken any action in furtherance of, or indicating its consent to,
approval of, or acquiescence in, any such proceeding or appointment, provided that a Bankruptcy
Event shall not result solely by virtue of any ownership interest, or the acquisition of any
ownership interest, in such Person by a Governmental Authority or instrumentality thereof,
provided, further, that such ownership interest does not result in or provide such Person with
immunity from the jurisdiction of courts within the United States or from the
enforcement of judgments or writs of attachment on its assets or permit such Person (or such
Governmental Authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts
or agreements made by such Person

          “Benefit Arrangement” means at any time an employee benefit plan within the meaning of
Section 3(3) of ERISA which is not a Plan or a Multiemployer Plan and which is sponsored,
maintained or otherwise contributed to by any member of the ERISA Group.

          “Board” means the Board of Governors of the Federal Reserve System of the United
States of America.

          “Borrower” means the Company or the Foreign Subsidiary Borrower.

3

 

          “Borrowing” means (a) Revolving Loans of the same Type, made, converted or continued
on the same date and, in the case of Eurocurrency Loans, as to which a single Interest Period is in
effect, or (b) a Swingline Loan.

          “Borrowing Request” means a request by any Borrower for a Revolving Borrowing in
accordance with Section 2.03.

          “Business Day” means any day that is not a Saturday, Sunday or other day on which
commercial banks in New York City are authorized or required by law to remain closed;
provided that, when used in connection with a Eurocurrency Loan, a Swingline Loan
denominated in a Foreign Currency or a Letter of Credit denominated in a Foreign Currency, the term
“Business Day” shall also exclude any day on which banks are not open for dealings in the
relevant Agreed Currency in the London (and, in the case of a Loan to the Foreign Subsidiary
Borrower, Luxembourg), interbank market or the principal financial center of such Agreed Currency
(and, if the Borrowings or LC Disbursements which are the subject of a borrowing, drawing, payment,
reimbursement or rate selection are denominated in euro, the term “Business Day” shall also exclude
any day on which the TARGET payment system is not open for the settlement of payments in euro).

          “Capital Lease Obligations” of any Person means the obligations of such Person to pay
rent or other amounts under any lease of (or other arrangement conveying the right to use) real or
personal property, or a combination thereof, which obligations are required to be classified and
accounted for as capital leases on a balance sheet of such Person under GAAP, and the amount of
such obligations shall be the capitalized amount thereof determined in accordance with GAAP.

          “Canadian Dollars” means the lawful currency of Canada.

          “Change in Law” means (a) the adoption of any law, rule or regulation after the date
of this Agreement, (b) any change in any law, rule or regulation or in the interpretation or
application thereof by any Governmental Authority after the date of this Agreement or (c)
compliance by any Lender or the Issuing Bank (or, for purposes of Section 2.15(b), by any lending
office of such Lender or by such Lender’s or the Issuing Bank’s holding company, if any) with any
request, guideline or directive (whether or not having the force of law) of any Governmental
Authority made or issued after the date of this Agreement.

          “Class”, when used in reference to any Loan or Borrowing, refers to whether such Loan,
or the Loans comprising such Borrowing, are Revolving Loans, Swingline Loans or, if applicable,
Incremental Term Loans.

          “Code” means the Internal Revenue Code of 1986, as amended from time to time.

          “Co-Documentation Agent” means each of Royal Bank of Canada, Wells Fargo Bank, N.A.
and Deutsche Bank AG New York Branch, in its capacity as co-documentation agent for the credit
facility evidenced by this Agreement.

          “Commercial Paper Borrowing” means a Borrowing to the extent the proceeds thereof are
to be used to repay the Company’s outstanding commercial paper, as certified by the Company in the
related Borrowing Request.

          “Commitment” means, with respect to each Lender, the commitment of such Lender to make
Revolving Loans and to acquire participations in Letters of Credit and Swingline Loans hereunder,
expressed as an amount representing the maximum aggregate amount of such Lender’s Revolving Credit

4

 

Exposure hereunder, as such commitment may be (a) reduced or terminated from time to time pursuant
to Section 2.09, (b) increased from time to time pursuant to Section 2.20 and (c) reduced or
increased from time to time pursuant to assignments by or to such Lender pursuant to Section 8.04.
The initial amount of each Lender’s Commitment is set forth on Schedule 2.01, or in the
Assignment and Assumption or other documentation contemplated hereby pursuant to which such Lender
shall have assumed its Commitment, as applicable.

          “Company” means Masco Corporation, a Delaware corporation, and its successors.

          “Computation Date” is defined in Section 2.04.

          “Consolidated EBITDA” means, with reference to any period, Consolidated Net Income
plus, without duplication and to the extent deducted from revenues in determining such Consolidated
Net Income for such period, the sum of:

	 	(i)	 	interest expense in accordance with GAAP,
	 
	 	(ii)	 	expense for income taxes paid or accrued,
	 
	 	(iii)	 	depreciation expense,
	 
	 	(iv)	 	amortization expense,
	 
	 	(v)	 	extraordinary, unusual or non-recurring non-cash expenses or losses (including
any such loss from discontinued operations),
	 
	 	(vi)	 	non-cash restructuring and rationalization charges and non-cash charges related
to impairment of long-lived assets, intangible assets and goodwill,
	 
	 	(vii)	 	non-cash charges related to impairment of financial investments as set forth
in the Fair Value of Financial Investments and Liabilities Note of the Company’s
quarterly and annual SEC filings,
	 
	 	(viii)	 	non-cash expenses related to stock based compensation (other than with respect to
phantom stock and stock appreciation rights), as set forth in the Stock-Based
Compensation Note of the Company’s quarterly and annual SEC filings,
	 
	 	(ix)	 	other non-cash charges of any kind,
	 
	 	(x)	 	cash restructuring and rationalization charges (a) in the amount of $11,000,000
taken during the fiscal quarter ended September 30, 2009, and (b) in the amount of
$12,000,000 taken during the fiscal quarter ended December 31, 2009,
	 
	 	(xi)	 	cash restructuring and rationalization charges (a) in the amount of $6,000,000
taken during the fiscal quarter ended March 31, 2010, and (b) in an aggregate amount
not to exceed $47,000,000 taken during the second, third and fourth fiscal quarters of
the fiscal year ending December 31, 2010,
	 
	 	(xii)	 	cash restructuring and rationalization charges taken during the fiscal year
ending December 31, 2011 in an aggregate amount not to exceed $50,000,000,

5

 

	 	(xiii)	 	cash restructuring and rationalization charges taken during the fiscal year ending
December 31, 2012 in an aggregate amount not to exceed $35,000,000,
	 
	 	(xiv)	 	cash restructuring and rationalization charges taken during the fiscal year
ending December 31, 2013 in an aggregate amount not to exceed $10,000,000, and
	 
	 	(xv)	 	cash fees and expenses incurred in connection with acquisitions, equity
issuances and debt incurrences that are not otherwise capitalized,

     minus, without duplication and to the extent included in determining such Consolidated Net
Income for such period, the sum of:

	 	(a)	 	interest income,
	 
	 	(b)	 	income tax credits and refunds (to the extent not netted from tax expense),
	 
	 	(c)	 	any cash payments made during such period in respect of items described in
clauses (v) through (ix) above (other than cash payments made with respect to phantom
stock and stock appreciation rights) subsequent to the fiscal quarter in which the
relevant non-cash expenses or losses were incurred,
	 
	 	(d)	 	extraordinary, unusual or non-recurring non-cash income or gains realized, and
	 
	 	(e)	 	any other non-cash items of income or gains.

Without duplication of the foregoing, Consolidated EBITDA shall be calculated for the Company and
its Subsidiaries in accordance with GAAP on a consolidated basis and computed without regard to the
cumulative effect of any changes in accounting principles, as shown on the Company’s consolidated
statement of income for such period.

          For the purposes of calculating Consolidated EBITDA for any period of four consecutive fiscal
quarters (each, a “Reference Period”), (1) if at any time during such Reference Period the
Company or any Subsidiary shall have made any Material Disposition, the Consolidated EBITDA for
such Reference Period shall be reduced by an amount equal to the Consolidated EBITDA (if positive)
attributable to the property that is the subject of such Material Disposition for such Reference
Period or increased by an amount equal to the Consolidated EBITDA (if negative) attributable
thereto for such Reference Period, and (2) if during such Reference Period the Company or any
Subsidiary shall have made a Material Acquisition, Consolidated EBITDA for such Reference Period
shall be calculated after giving effect thereto on a Pro Forma Basis as if such Material
Acquisition occurred on the first day of such Reference Period. As used in this definition,
“Material Acquisition” means any acquisition of property or series of related acquisitions
of property that (a) constitutes (i) assets comprising all or substantially all or any significant
portion of a business or operating unit of a business, or (ii) all or substantially all of the
common stock or other Equity Interests of a Person, and (b) involves the payment of consideration
by the Company and its Subsidiaries in excess of $150,000,000; and “Material Disposition”
means any sale, transfer or disposition of property or series of related sales, transfers, or
dispositions of property that yields gross proceeds to the Company or any of its Subsidiaries in
excess of $150,000,000.

          “Consolidated Interest Expense” means, with reference to any period, the interest
expense (including without limitation interest expense under Capital Lease Obligations that is
treated as interest in accordance with GAAP) of the Company and its Subsidiaries, net of interest
income received

6

 

on cash on deposit or Permitted Investments, calculated on a consolidated basis for
such period with respect to (a) all outstanding Debt of the Company and its Subsidiaries allocable
to such period in accordance with GAAP and (b) Swap Agreements (including, without limitation, all
commissions, discounts and other fees and charges owed with respect to letters of credit and
bankers acceptance financing and net costs under interest rate Swap Agreements to the extent such
net costs are allocable to such period in accordance with GAAP). In the event that the Company or
any Subsidiary shall have completed a “Material Acquisition” or a “Material Disposition” (each as
defined in the definition of “Consolidated EBITDA”) since the beginning of the relevant period,
Consolidated Interest Expense shall be determined for such period on a Pro Forma Basis as if such
acquisition or disposition, and any related incurrence or repayment of Debt, had occurred at the
beginning of such period.

          “Consolidated Adjusted Net Worth” means at any date of determination (i) Consolidated
Net Worth at such date less (ii) the amount (if any) by which the aggregate amount of all equity
and other Investments in Affiliated Entities reflected in such Consolidated Net Worth exceeds
$250,000,000.

          “Consolidated Debt” means at any date the Debt of the Company and its Consolidated
Subsidiaries determined on a consolidated basis as of such date minus the Debt Credit
applicable to the Company and its Consolidated Subsidiaries as of such date.

          “Consolidated Net Income” means, with reference to any period, the net income (or
loss) of the Company and its Subsidiaries calculated in accordance with GAAP on a consolidated
basis (without duplication) for such period; provided that there shall be excluded any income (or
loss) (i) of any Person other than the Company or a Subsidiary, but any such income so excluded may
be included in such period or any later period to the extent of any cash dividends or distributions
actually paid in the relevant period to the Company or any wholly-owned Subsidiary of the Company
or (ii) attributable to Equity Interests of a Subsidiary of the Company that are not owned by
Company or one of its Subsidiaries (i.e., non-controlling interests), valued in accordance with
GAAP.

          “Consolidated Net Worth” means at any date the consolidated shareholders’ equity of
the Company and its Consolidated Subsidiaries determined as of such date in accordance with GAAP.

          “Consolidated Subsidiary” means at any date any Subsidiary the accounts of which would
be consolidated with those of the Company in its consolidated financial statements in accordance
with GAAP as of such date.

          “Continuing Director” means any member of the Company’s board of directors who either
(i) was a member of such board as of the Effective Date or (ii) has been thereafter or hereafter is
elected to such board, or nominated for election by stockholders, by a vote of at least two-thirds
of the directors who are Continuing Directors at the time of such vote; provided that an
individual who is so elected or nominated in connection with a merger, consolidation, acquisition
or similar transaction shall not be a Continuing Director unless such individual was a Continuing
Director prior thereto.

          “Control” means the possession, directly or indirectly, of the power to direct or
cause the direction of the management or policies of a Person, whether through the ability to
exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings
correlative thereto.

          “Country Risk Event” means:

          (a) any law, action or failure to act by any Governmental Authority in any Borrower’s or
Letter of Credit beneficiary’s country which has the effect of:

7

 

     (i) changing the obligations under the relevant Letter of Credit, the Credit
Agreement or any of the other Loan Documents as originally agreed or otherwise
creating any additional liability, cost or expense to the Issuing Bank, the Lenders
or the Administrative Agent,

     (ii) changing the ownership or control by such Borrower or Letter of Credit
beneficiary of its business, or

     (iii) preventing or restricting the conversion into or transfer of the
applicable Agreed Currency;

     (b) force majeure; or

     (c) any similar event

which, in relation to (a), (b) and (c), directly or indirectly, prevents or restricts the payment
or transfer of any amounts owing under the relevant Letter of Credit in the applicable Agreed
Currency into an account
designated by the Administrative Agent or the Issuing Bank and freely available to the
Administrative Agent or the Issuing Bank.

          “Credit Event” means a Borrowing, the issuance, amendment, renewal or extension of a
Letter of Credit, an LC Disbursement or any of the foregoing.

          “Credit Party” means the Administrative Agent, the Issuing Bank, the Swingline Lender
or any other Lender.

          “Danish Kroner” means the lawful currency of Denmark.

          “Debt” of any Person means at any date, without duplication, (i) all obligations of
such Person for borrowed money, (ii) all obligations of such Person evidenced by debentures, notes
or other similar instruments, (iii) all obligations of such Person to pay the deferred purchase
price of property, except trade accounts payable, (iv) all Capital Lease Obligations of such
Person, (v) all Debt of others secured by a Lien on any asset of such Person, whether or not such
Debt is assumed by such Person, (vi) all Debt of others for which such a Person is contingently
liable and (vii) obligations, contingent or otherwise, of such Person as an account party in
respect of letters of credit, letters of guaranty or bankers’ acceptances. In calculating the
amount of any Debt at any date for purposes of this Agreement, (a) accrued interest shall be
excluded to the extent that it would be properly classified as a current liability for interest
under the heading “Accrued liabilities” (and not under the heading “Notes payable”) in a balance
sheet prepared as of such date in accordance with the accounting principles and practices used in
preparing the balance sheet referred to in Section 3.04(a) and the related footnotes thereto and
(b) the Debt of any Person shall include the Debt of any other entity (including any partnership in
which such Person is a general partner) to the extent such Person is liable therefor as a result of
such Person’s ownership interest in or other relationship with such entity, except to the extent
the terms of such Debt provide that such Person is not liable therefor.

          “Debt Credit” for any Person means, at any date, the lesser of (i) the aggregate
amount of contingent obligations of such Person as an account party in respect of letters of
credit, letters of guaranty or bankers’ acceptances and (ii) $168,000,000.

          “Default” means any event or condition which constitutes an Event of Default or which
upon notice, lapse of time or both would, unless cured or waived, become an Event of Default.

8

 

          “Defaulting Lender” means any Lender that (a) has failed, within three Business Days
of the date required to be funded or paid, to (i) fund any portion of its Loans, (ii) fund any
portion of its participations in Letters of Credit or Swingline Loans or (iii) pay over to any
Credit Party any other amount required to be paid by it hereunder, unless, in the case of clause
(i) above, such Lender notifies the Administrative Agent in writing that such failure is the result
of such Lender’s good faith determination that a condition precedent to funding (specifically
identified and including the particular default, if any) has not been satisfied, (b) has notified
the Borrower or any Credit Party in writing, or has made a public statement to the effect, that it
does not intend or expect to comply with any of its funding obligations under this Agreement
(unless such writing or public statement indicates that such position is based on such Lender’s
good faith determination that a condition precedent (specifically identified and including the
particular default, if any) to funding a loan under this Agreement cannot be satisfied) or
generally under other agreements in which it commits to extend credit, (c) has failed, within three
Business Days after written request by the Administrative Agent, acting in good faith, to
provide a certification in writing from an authorized officer of such Lender that it will comply
with its obligations (and is financially able to meet such obligations) to fund prospective Loans
and participations in then outstanding Letters of Credit and Swingline Loans under this Agreement
(unless, in the case of any such request with respect to the funding of prospective Loans, such
certification indicates that such Lender has made a good faith determination that a condition
precedent (specifically identified and including the particular default, if any) to funding a Loan
under this Agreement cannot be satisfied), provided that such Lender shall cease to be a
Defaulting Lender pursuant to this clause (c) upon the Administrative Agent’s receipt of such
certification in form and substance satisfactory to it, or (d) has become the subject of a
Bankruptcy Event.

          “Dollar Amount” of any currency at any date shall mean (i) the amount of such currency
if such currency is Dollars or (ii) the equivalent in such currency of Dollars if such currency is
a Foreign Currency, calculated on the basis of the Exchange Rate for such currency, on or as of the
most recent Computation Date provided for in Section 2.04.

          “Dollars” or “$” refers to lawful money of the United States of America.

          “Domestic Subsidiary” means a Subsidiary organized under the laws of a jurisdiction
located in the United States of America.

          “Effective Date” means the date on which the conditions specified in Section 4.01 are
satisfied (or waived in accordance with Section 8.02).

          “Environmental Laws” means any and all federal, state and local statutes, laws,
judicial decisions, regulations, ordinances, rules, judgments, orders, decrees, injunctions,
permits, concessions, grants, franchises, licenses, agreements and other governmental restrictions
relating to the environment, the effect of the environment on human health or to emissions,
discharges or releases of pollutants, contaminants, petroleum or petroleum products, chemicals or
industrial, toxic or hazardous substances or wastes into the environment including, without
limitation, ambient air, surface water, ground water, or land, or otherwise relating to the
manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of
pollutants, contaminants, petroleum or petroleum products, chemicals or industrial, toxic or
hazardous substances or wastes or the clean-up or other remediation thereof.

          “Environmental Liability” means any liability, contingent or otherwise (including any
liability for damages, costs of environmental remediation, fines, penalties or indemnities), of the
Company or any Subsidiary directly or indirectly resulting from or based upon (a) violation of any
Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or
disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or
threatened release of any

9

 

Hazardous Materials into the environment or (e) any contract, agreement
or other consensual arrangement pursuant to which liability is assumed or imposed with respect to
any of the foregoing.

          “Equity Interests” means shares of capital stock, partnership interests, membership
interests in a limited liability company, beneficial interests in a trust or other equity ownership
interests in a Person, and any warrants, options or other rights entitling the holder thereof to
purchase or acquire any of the foregoing.

          “Equivalent Amount” of any currency with respect to any amount of Dollars at any date
shall mean the equivalent in such currency of such amount of Dollars, calculated on the basis of
the Exchange Rate for such other currency on the date on or as of which such amount is to be
determined.

          “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from
time to time.

          “ERISA Group” means the Company, any Subsidiary and all members of a controlled group
of corporations and all trades or businesses (whether or not incorporated) under common control
which, together with the Company or any Subsidiary, are treated as a single employer under Section
414 of the Code.

          “EU” means the European Union.

          “euro” and/or “EUR” means the single currency of the participating member
states of the EU.

          “Eurocurrency”, when used in reference to a currency means an Agreed Currency and when
used in reference to any Loan or Borrowing, means that such Loan, or the Loans comprising such
Borrowing, bears interest at a rate determined by reference to the Adjusted LIBO Rate.

          “Eurocurrency Payment Office” of the Administrative Agent shall mean, for each Foreign
Currency, the office, branch, affiliate or correspondent bank of the Administrative Agent for such
currency as specified from time to time by the Administrative Agent to the Company and each Lender.

          “Event of Default” has the meaning assigned to such term in Article VI.

          “Exchange Rate” means, on any day, with respect to any Foreign Currency, the rate at
which such Foreign Currency may be exchanged into Dollars, as set forth at approximately 11:00
a.m., Local Time, on such date on the Reuters World Currency Page for such Foreign Currency. In
the event that such rate does not appear on any Reuters World Currency Page, the Exchange Rate with
respect to such Foreign Currency shall be determined by reference to such other publicly available
service for displaying exchange rates as may be reasonably selected by the Administrative Agent or,
in the event no such service is selected, such Exchange Rate shall instead be calculated on the
basis of the arithmetical mean of the buy and sell spot rates of exchange of the Administrative
Agent for such Foreign Currency on the London market at 11:00 a.m., Local Time, on such date for
the purchase of Dollars with such Foreign Currency, for delivery two Business Days later;
provided, that if at the time of any such determination, for any reason, no such spot rate
is being quoted, the Administrative Agent, after consultation with the Company, may use any
reasonable method it deems appropriate to determine such rate, and such determination shall be
conclusive absent manifest error.

          “Excluded Taxes” means, with respect to the Administrative Agent, any
Lender, the Issuing Bank or any other recipient of any payment to be made by or on account of any
obligation of the

10

 

Company hereunder, (a) income or franchise Taxes imposed on (or measured by) its net income
by the United States of America, or by the jurisdiction under the laws of which such recipient is
organized or in which its principal office is located or, in the case of any Lender, in which its
applicable lending office is located, (b) any branch profits taxes imposed by the United States of
America or any similar Tax imposed by any other jurisdiction in which the Company is located, (c)
in the case of a Foreign Lender (other than an assignee pursuant to a request by the Company under
Section 2.19(b)), any withholding Tax that is imposed on amounts payable to such Foreign Lender at
the time such Foreign Lender becomes a party to this Agreement (or designates a new lending
office), except to the extent that such Foreign Lender (or its assignor, if any) was entitled, at
the time of designation of a new lending office (or assignment), to receive additional amounts from
the Company with respect to such withholding Tax pursuant to Section 2.17(a), (d) any Taxes
attributable to a Lender’s failure to comply with Section 2.17(e), and (e) any Taxes imposed by
Sections 1471 through 1474 of the Code and any regulations or official interpretations thereof.

          “Existing Credit Agreement” means the 5-Year Revolving Credit Agreement dated as of
November 5, 2004 by and among the Company, the Foreign Subsidiary Borrower, certain lenders party
thereto and JPMorgan Chase Bank, N.A. (successor to Bank One, NA (Main Office Chicago)), as
administrative agent, as amended prior to the Effective Date.

          “Existing Letters of Credit” is defined in Section 2.06(a).

          “Federal Funds Effective Rate” means, for any day, the weighted average (rounded
upwards, if necessary, to the next 1/100 of 1%) of the rates on overnight Federal funds
transactions with members of the Federal Reserve System arranged by Federal funds brokers, as
published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such
rate is not so published for any day that is a Business Day, the average (rounded upwards, if
necessary, to the next 1/100 of 1%) of the quotations for such day for such transactions received
by the Administrative Agent from three Federal funds brokers of recognized standing selected by it.

          “Financial Officer” means the chief financial officer, principal accounting officer or
treasurer of the Company.

          “Fiscal Quarter” means a fiscal quarter of the Company.

          “Fiscal Year” means a fiscal year of the Company.

          “Foreign Borrower Insolvency Event” shall mean (i) a situation of inability to pay its
debts as they fall due (cessation de paiements) and absence of access to credit (credit ébranlé)
within the meaning of Article 437 of the Luxembourg Commercial Code, (ii) insolvency proceedings
(faillite) within the meaning of Articles 437 ff. of the Luxembourg Commercial Code or any other
insolvency proceedings pursuant to the Council Regulation (EC) N° 1346/2000 of 29 May 2000 on
insolvency proceedings, (iii) controlled management (gestion contrôlée) within the meaning of the
grand ducal regulation of 24 May 1935 on controlled management, (iv) voluntary arrangement with
creditors (concordat préventif de faillite) within the meaning of the law of 14 April 1886 on
arrangements to prevent insolvency, as amended, (v) suspension of payments (sursis de paiement)
within the meaning of Articles 593 ff. of the Luxembourg Commercial Code, (vi) voluntary or
compulsory winding-up pursuant to the law of 10 August 1915 on commercial companies, as amended or
(vii) the appointment of an ad hoc director (administrateur provisoire) by a court in respect of
the Foreign Borrower or a substantial part of its assets.

          “Foreign Currency” means any Agreed Currency other than Dollars.

11

 

          “Foreign Currency LC Exposure” means, at any time, the sum of (a) the Dollar Amount of
the aggregate undrawn and unexpired amount of all outstanding Foreign Currency Letters of Credit at
such time plus (b) the aggregate principal Dollar Amount of all LC Disbursements in respect of
Foreign Currency Letters of Credit that have not yet been reimbursed at such time.

          “Foreign Currency Letter of Credit” means a Letter of Credit denominated in a Foreign
Currency.

          “Foreign Employee Benefit Plan” means any employee benefit plan as defined in Section
3(3) of ERISA which is sponsored, maintained or contributed to for the benefit of the employees of
the Company, any of its Subsidiaries or any members of its ERISA Group and is not covered by ERISA
pursuant to ERISA Section 4(b)(4).

          “Foreign Lender” means any Lender that is organized under the laws of a jurisdiction
other than that in which the Company is located. For purposes of this definition, the United
States of America, each State thereof and the District of Columbia shall be deemed to constitute a
single jurisdiction.

          “Foreign Pension Plan” means any employee pension plan as described in Section 3(2) of
ERISA for which any member of the ERISA Group is a sponsor or administrator and which (i) is
maintained or contributed to for the benefit of employees of the Company, any of its Subsidiaries
or any member of its ERISA Group, (ii) is not covered by ERISA pursuant to Section 4(b)(4) of
ERISA, and (iii) under applicable local law or terms of such Foreign Pension Plan, is required to
be funded through a trust.

          “Foreign Subsidiary” means any Subsidiary other than a Domestic Subsidiary.

          “Foreign Subsidiary Borrower” means Masco Europe, S.à.r.l., a wholly-owned Subsidiary
of the Company organized as a société à responsabilité limitée under the laws of the Grand Duchy of
Luxembourg, having its registered office at 22, Parc d’activité Syrdall, L-5365 Münsbach and
registered with the Luxembourg Register of Commerce and Companies under number B68.104 and, as of
the Effective Date, having a corporate capital of EUR 645,000,000.

          “GAAP” means generally accepted accounting principles in the United States of America.

          “Governmental Authority” means the government of the United States of America, any
other nation or any political subdivision thereof, whether state or local, and any agency,
authority, instrumentality, regulatory body, court, central bank or other entity exercising
executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or
pertaining to government.

          “Guarantee” of or by any Person (the “guarantor”) means any obligation,
contingent or otherwise, of the guarantor guaranteeing or having the economic effect of
guaranteeing any Debt of any other Person (the “primary obligor”) in any manner, whether
directly or indirectly, and including any obligation of the guarantor, direct or indirect, (a) to
purchase or pay (or advance or supply funds for the purchase or payment of) such Debt or to
purchase (or to advance or supply funds for the purchase of) any security for the payment thereof,
(b) to purchase or lease property, securities or services for the purpose of assuring the owner of
such Debt of the payment thereof, (c) to maintain working capital, equity capital or any other
financial statement condition or liquidity of the primary obligor so as to enable the primary
obligor to pay such Debt or (d) as an account party in respect of any letter of credit or letter of
guaranty issued to support such Debt; provided, that the term Guarantee shall not include
endorsements for collection or deposit in the ordinary course of business.

12

 

          “Hazardous Materials” means all explosive or radioactive substances or wastes and all
hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum
distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas,
infectious or medical wastes and all other substances or wastes of any nature regulated pursuant to
any Environmental Law.

          “Increasing Lender” has the meaning assigned to such term in Section 2.20.

          “Incremental Term Loan” has the meaning assigned to such term in Section 2.20.

          “Incremental Term Loan Amendment” has the meaning assigned to such term in Section
2.20.

          “Indemnified Taxes” means Taxes other than Excluded Taxes and Other Taxes.

          “Index Debt” means senior, unsecured, long-term indebtedness for borrowed money of the
Company that is not guaranteed by any other Person or subject to any other credit enhancement.

          “Interest Election Request” means a request by the applicable Borrower to convert or
continue a Revolving Borrowing in accordance with Section 2.08.

          “Interest Payment Date” means (a) with respect to any ABR Loan (other than a Swingline
Loan that is an ABR Loan), the last day of each March, June, September and December and the
Maturity Date, (b) with respect to any Eurocurrency Loan, the last day of the Interest Period
applicable to the Borrowing of which such Loan is a part and, in the case of a Eurocurrency
Borrowing with an Interest Period of more than three months’ duration, each day prior to the last
day of such Interest Period that occurs at intervals of three months’ duration after the first day
of such Interest Period and the Maturity Date and (c) with respect to any Swingline Loan, the day
that such Loan is required to be repaid, the Maturity Date and, in the case of a Swingline Loan in
an Agreed Currency other than Dollars or euro that has been continued in accordance with Section
2.05(c), on the date such Swingline Loan is continued.

          “Interest Period” means (a) with respect to any Eurocurrency Borrowing, the period
commencing on the date of such Borrowing and ending on the numerically corresponding day in the
calendar month that is one, two, three or six months thereafter, as the applicable Borrower (or the
Company on behalf of the applicable Borrower) may elect and (b) with respect to each Swingline Loan
that bears interest at any rate for which interest periods must be selected for a contracted period
of time by a Borrower, the period commencing on the date such Swingline Loan is made by the
Swingline Lender (and, in the case of a Swingline Loan in an Agreed Currency other than Dollars or
euro that has been continued in accordance with Section 2.05(c), on the date such Swingline Loan is
continued) and ending on the date that is seven or thirty days thereafter, as prescribed by Section
2.05(c) (or such shorter period as agreed to between the applicable Borrower and the Swingline
Lender in accordance with Section 2.05(c)); provided, that (i) if any Interest Period would
end on a day other than a Business Day, such Interest Period shall be extended to the next
succeeding Business Day unless, in the case of a Eurocurrency Borrowing only, such next succeeding
Business Day would fall in the next calendar month, in which case such Interest Period shall end on
the next preceding Business Day and (ii) any Interest Period pertaining to a Eurocurrency Borrowing
that commences on the last Business Day of a calendar month (or on a day for which there is no
numerically corresponding day in the last calendar month of such Interest Period) shall end on the
last Business Day of the last calendar month of such Interest Period. For purposes hereof, the
date of a Borrowing initially shall be the date on which such Borrowing is made and, in the case of
a Revolving Borrowing, thereafter shall be the effective date of the most recent conversion or
continuation of such Borrowing.

13

 

          “Investments” is defined in Section 5.11.

          “Issuing Bank” means (i) JPMorgan Chase Bank, N.A., in its capacity as an issuer of
Letters of Credit (including certain Existing Letters of Credit) hereunder (the “Principal
Issuing Bank”), and (ii) any other Lender which has agreed, in its sole discretion, to issue
one or more Letters of Credit, and which Lender or affiliate is consented to by the Administrative
Agent and the Company (which consent shall not be unreasonably withheld or delayed) in such
Lender’s capacity as an issuer of Letters of Credit hereunder, in each case, together with its
successors in such capacity as provided in Section 2.06(i) (provided, that the Lenders
consented to under this clause (ii) shall be deemed to include (x) Fifth Third Bank, an Ohio
banking corporation, in its capacity as an issuer of Letters of Credit (including certain
Existing Letters of Credit) agreed to be issued by it hereunder, and (y) Wells Fargo Bank, N.A., in
its capacity as an issuer of Letters of Credit agreed to be issued by it hereunder);
provided, that each Issuing Bank shall only be required to issue Letters of Credit in the
Agreed Currencies then in effect as specified by such Issuing Bank at the time it becomes an
Issuing Bank. All references contained in this Agreement and the other instruments, documents or
agreements from time to time executed or delivered in connection herewith to “the Issuing Bank”
shall be deemed to apply equally to each of the institutions referred to in the first sentence of
this definition in their respective capacities as Issuing Banks of, and with respect to, any and
all Letters of Credit issued by each such institution. The Issuing Bank may, in its discretion,
arrange for one or more Letters of Credit to be issued by branches or Affiliates of the Issuing
Bank, in which case the term “Issuing Bank” shall also include any such branch or Affiliate with
respect to Letters of Credit issued by such branch or Affiliate.

          “LC Account Party” has the meaning assigned to such term in Section 2.06(a).

          “LC Collateral Account” has the meaning assigned to such term in Section 2.06(j).

          “LC Disbursement” means a payment made by the Issuing Bank pursuant to a Letter of
Credit.

          “LC Exposure” means, at any time, the sum of (a) the aggregate undrawn Dollar Amount
of all outstanding Letters of Credit at such time plus (b) the aggregate Dollar Amount of all LC
Disbursements that have not yet been reimbursed by or on behalf of the Company at such time. The
LC Exposure of any Lender at any time shall be its Applicable Percentage of the total LC Exposure
at such time.

          “LC Sublimit” means $250,000,000.

          “Lenders” means the Persons listed on Schedule 2.01 and any other Person that
shall have become a Lender hereunder pursuant to Section 2.20 or pursuant to an Assignment and
Assumption, other than any such Person that ceases to be a party hereto pursuant to an Assignment
and Assumption. Unless the context otherwise requires, the term “Lenders” includes the Swingline
Lender.

          “Letter of Credit” means any letter of credit issued pursuant to this Agreement;
provided, that with respect to any Foreign Currency Letter of Credit issued hereunder, such
term shall also be deemed to include any advance guaranty, performance bond or similar guaranty
deemed appropriate by the Issuing Bank.

          “LIBO Rate” means, with respect to any Eurocurrency Borrowing for any Interest Period,
the rate appearing on, in the case of Dollars, Reuters Screen LIBOR01 Page and, in the case of any
Foreign Currency, the appropriate page of such service which displays British Bankers Association
Interest Settlement Rates for deposits in such Foreign Currency (or, in each case, on any successor or

14

 

substitute page of such service, or any successor to or substitute for such service, providing
rate quotations comparable to those currently provided on such page of such service, as determined
by the Administrative Agent from time to time for purposes of providing quotations of interest
rates applicable to deposits in the relevant Agreed Currency in the London interbank market) at
approximately 11:00 a.m., London time, two (2) Business Days prior to the commencement of such
Interest Period, as the rate for deposits in the relevant Agreed Currency with a maturity
comparable to such Interest Period. In the event that such rate is not available at such time for
any reason, then the “LIBO Rate” with respect to such Eurocurrency Borrowing for such
Interest Period shall be the rate at which deposits in the relevant Agreed Currency in an
Equivalent Amount of $5,000,000 and for a maturity comparable to such Interest Period are offered
by the principal London office of the Administrative Agent in immediately available funds in the
London interbank market at approximately 11:00 a.m., London time, two (2) Business Days prior to
the commencement of such Interest Period.

          “Lien” means, with respect to any asset, (a) any mortgage, deed of trust, lien,
pledge, hypothecation, encumbrance, charge or security interest in, on or of such asset, and (b)
the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title
retention agreement (or any financing lease having substantially the same economic effect as any of
the foregoing) relating to such asset.

          “Loan Documents” means this Agreement, any promissory notes issued pursuant to Section
2.10(e), any Letter of Credit applications and any and all other agreements or instruments executed
and delivered to, or in favor of, the Administrative Agent or any Lenders in connection with the
Agreement or the transactions contemplated thereby.

          “Loans” means the loans made by the Lenders to the Borrowers pursuant to this
Agreement.

          “Local Time” means (i) New York City time in the case of a Loan, Borrowing or LC
Disbursement denominated in Dollars to, or for the account of, the Company and (ii) local time at
the place of the relevant Loan, Borrowing or LC Disbursement (or such earlier local time as is
necessary for the relevant funds to be received and transferred to the Administrative Agent for
same day value on the date the relevant reimbursement obligation is due) in the case of a Loan,
Borrowing or LC Disbursement denominated in a Foreign Currency or which is to, or for the account
of, the Foreign Subsidiary Borrower.

          “Luxembourg Domiciliation Law” shall mean the Luxembourg law of May 31, 1999, as
amended, regarding the domiciliation of companies.

          “Mandatory Cost” is described in Schedule 2.02.

          “Material Adverse Change” means a material adverse change in (i) the business, assets,
operations or condition (financial or otherwise) of the Company and its Subsidiaries taken as a
whole from that reflected in the Company’s consolidated financial statements as of December 31,
2009, or (ii) the validity or enforceability of this Agreement or any and all other Loan Documents
or the rights or remedies of the Administrative Agent and the Lenders thereunder.

          “Material Adverse Effect” means a material adverse effect on (i) the business, assets,
operations or condition (financial or otherwise) of the Company and its Subsidiaries taken as a
whole from that reflected in the Company’s consolidated financial statements as of December 31,
2009, or (ii) the validity or enforceability of this Agreement or any and all other Loan Documents
or the rights or remedies of the Administrative Agent and the Lenders thereunder.

15

 

          “Material Foreign Pension Plan” has the meaning set forth in Section 6.01(j).

          “Material Obligations” means (a) Debt, (b) Off-Balance Sheet Liabilities and/or (c)
obligations under one or more Swap Agreements, in each case, of the Company and/or one or more of
its Subsidiaries, arising in one or more related or unrelated transactions, in an aggregate
outstanding amount exceeding $75,000,000, other than (i) the Loans and Letters of Credit and (ii)
Debt owing to the Company or any of its Subsidiaries. For purposes of determining Material
Obligations, the amount of the obligations of the Company or any Subsidiary in respect of any Swap
Agreement at any time shall be the maximum aggregate amount (giving effect to any netting
agreements) that the Company or such Subsidiary would be required to pay if such Swap Agreement
were terminated at such time

          “Material Plan” has the meaning set forth in Section 6.01(j).

          “Maturity Date” means January 10, 2014.

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

          “Multiemployer Plan” means at any time an employee pension benefit plan within the
meaning of Section 4001(a)(3) of ERISA to which any member of the ERISA Group is then making or,
pursuant to an applicable collective bargaining agreement, accruing an obligation to make
contributions or has within the preceding five plan years made contributions, including for these
purposes any Person which ceased to be a member of the ERISA Group during such five year period.

          “New Money Credit Event” means with respect to the Issuing Bank, any increase
(directly or indirectly) in the Issuing Bank’s exposure (whether by way of additional credit or
banking facilities or otherwise, including as part of a restructuring) to the applicable Borrower
or any Governmental Authority in such Borrower’s or any applicable Letter of Credit beneficiary’s
country occurring by reason of (a) any law, action or requirement of any Governmental Authority in
such Borrower’s or such Letter of Credit beneficiary’s country, or (b) any request in respect of
external indebtedness of borrowers in such Borrower’s or such Letter of Credit beneficiary’s
country applicable to banks generally which conduct business with such borrowers, or (iii) any
agreement in relation to clause (a) or (b), in each case to the extent calculated by reference to
the aggregate Revolving Credit Exposures outstanding prior to such increase.

          “Obligations” means all unpaid principal of and accrued and unpaid interest on the
Loans, all LC Exposure, all accrued and unpaid fees and all expenses, reimbursements, indemnities
and other obligations and indebtedness (including interest accruing during the pendency of any
bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or
allowable in such proceeding), obligations and liabilities of any of the Company and its
Subsidiaries to any of the Lenders, the Administrative Agent, the Issuing Bank or any indemnified
party, individually or collectively, existing on the Effective Date or arising thereafter, direct
or indirect, joint or several, absolute or contingent, matured or unmatured, liquidated or
unliquidated, secured or unsecured, arising by contract, operation of law or otherwise, arising or
incurred under this Agreement or any of the other Loan Documents or in respect of any of the Loans
made or reimbursement or other obligations incurred or any of the Letters of Credit or other
instruments at any time evidencing any thereof.

          “Off-Balance Sheet Liabilities” of a Person means (a) any repurchase obligation or
liability of such Person with respect to accounts or notes receivable sold by such Person
(including, the principal amount of obligations or liabilities which (i) if structured as a secured
lending agreement, constitutes the principal amount thereof or (ii) if structured as a purchase
arrangement, would be outstanding at such time if the same were structured as a secured lending
agreement rather than a

16

 

purchase agreement), (b) any indebtedness, liability or obligation under
any sale and leaseback transaction evidenced by a sale or other transfer of any property or asset
by any Person with the intent to lease such property or asset as lessee, which is not a Capital
Lease Obligation or (c) any indebtedness, liability or obligation under any so-called “synthetic
lease” transaction entered into by such Person.

          “Other Taxes” means any and all present or future stamp or documentary taxes or any
other excise or property taxes, charges or similar levies arising from any payment made hereunder
or from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement or
any other Loan Document.

          “Overnight Foreign Currency Rate” means, for any amount payable in a Foreign Currency,
the rate of interest per annum as determined by the Administrative Agent at which overnight or
weekend deposits in the relevant currency (or if such amount due remains unpaid for more than three
(3) Business Days, then for such other period of time as the Administrative Agent may elect) for
delivery in immediately available and freely transferable funds would be offered by the
Administrative Agent to major banks in the interbank market upon request of such major banks for
the relevant currency as determined above and in an amount comparable to the unpaid principal
amount of the related Credit Event, plus any taxes, levies, imposts, duties, deductions, charges or
withholdings imposed upon, or charged to, the Administrative Agent by any relevant correspondent
bank in respect of such amount in such relevant currency.

          “Parent” means, with respect to any Lender, any Person as to which such Lender is,
directly or indirectly, a subsidiary.

          “Participant” has the meaning set forth in Section 8.04.

          “Participant Register” has the meaning assigned to such term in Section 8.04.

          “PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA
and any successor entity performing similar functions.

          “Permitted Investments” means:

      (a) direct obligations of, or obligations the principal of and interest on which are
unconditionally guaranteed by, the United States of America (or by any agency thereof to the
extent such obligations are backed by the full faith and credit of the United States of
America), in each case maturing within one year from the date of acquisition thereof;

      (b) investments in commercial paper maturing within 270 days from the date of
acquisition thereof and having, at such date of acquisition, a credit rating obtainable from
S&P of A-1 or higher or from Moody’s of P-1 or higher;

      (c) investments in certificates of deposit, banker’s acceptances and time deposits
maturing within 180 days from the date of acquisition thereof issued or guaranteed by or
placed with, and money market deposit accounts issued or offered by, any financial
institution which has a combined capital and surplus and undivided profits of not less than
$500,000,000 and which has a credit rating of A- or higher from S&P and A3 or higher from
Moody’s (or, in the case of any such financial institution located in a jurisdiction outside
the United States of America which is not so rated, which has comparable other credit
ratings or, if none exist, is otherwise reasonably acceptable to the Administrative Agent);

17

 

      (d) fully collateralized repurchase agreements with a term of not more than thirty
(30) days for securities described in clause (a) above and entered into with a financial
institution satisfying the criteria described in clause (c) above;

      (e) money market funds that (i) comply with the criteria set forth in SEC Rule 2a-7
under the Investment Company Act of 1940, (ii) are rated AAA by S&P and Aaa by Moody’s and
(iii) have portfolio assets of at least $1,000,000,000;

      (f) auction rate securities existing on the books of the Company as of the date hereof
in a principal amount not exceeding $22,075,000; and

      (g) foreign investments substantially comparable to any of the foregoing in connection
with managing cash of any Subsidiary having operations in a foreign country.

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

          “Plan” means at any time an employee pension benefit plan within the meaning of
Section 3(2) of ERISA (other than a Multiemployer Plan) which is covered by Title IV of ERISA or
subject to the minimum funding standards under Section 412 of the Code and either (i) is sponsored,
maintained, or contributed to, by any member of the ERISA Group for employees of any member of the
ERISA Group or (ii) has at any time within the preceding five years been sponsored, maintained, or
contributed to, by any Person which was at such time a member of the ERISA Group for employees of
any Person which was at such time a member of the ERISA Group.

          “Pounds Sterling” means the lawful currency of the United Kingdom.

          “Prime Rate” means the rate of interest per annum publicly announced from time to time
by JPMorgan Chase Bank, N.A. as its prime rate in effect at its principal office in New York City;
each change in the Prime Rate shall be effective from and including the date such change is
publicly announced as being effective.

          “Principal Issuing Bank” has the meaning assigned to such term in the definition of
“Issuing Bank.”

          “Prior Plan” means at any time (i) any Plan which at such time is no longer sponsored,
maintained or contributed to by any member of the ERISA Group or (ii) any Multiemployer Plan to
which no member of the ERISA Group is at such time any longer making contributions or, pursuant to
an applicable collective bargaining agreement, accruing an obligation to make contributions.

          “Pro Forma Basis” means, with respect to any event, that the Company is in compliance
on a pro forma basis with the applicable covenant, calculation or requirement
herein recomputed as if the event with respect to which compliance on a pro forma
basis is being tested had occurred on the first day of the four fiscal quarter period most recently
ended on or prior to such date.

          “Refunding” has the meaning set forth in Section 5.08(b).

          “Register” has the meaning set forth in Section 8.04.

18

 

          “Related Parties” means, with respect to any specified Person, such Person’s
Affiliates and the respective directors, officers, employees, agents and advisors of such Person
and such Person’s Affiliates.

          “Required Lenders” means, at any time, Lenders having Revolving Credit Exposures and
unused Commitments representing more than 50% of the sum of the total Revolving Credit Exposures
and unused Commitments at such time.

          “Revolver Foreign Currency Sublimit” means $500,000,000.

          “Revolving Credit Exposure” means, with respect to any Lender at any time, the sum of
the outstanding principal Dollar Amount of such Lender’s Revolving Loans and its LC Exposure and
Swingline Exposure at such time.

          “Revolving Loan” means a Loan made pursuant to Section 2.01 (including after giving
effect to an increase in the Aggregate Commitment pursuant to Section 2.20).

          “S&P” means Standard & Poor’s Ratings Services, a Standard & Poor’s Financial Services
LLC business.

          “Significant Subsidiaries” means any of the Foreign Subsidiary Borrower or any one or
more Subsidiaries which, if considered in the aggregate as a single Subsidiary, would be a
“significant subsidiary” as defined in Rule 1-02 of Regulation S-X under the Securities Exchange
Act of 1934.

          “SEC” means the United States Securities and Exchange Commission.

          “Specified Add-Backs” has the meaning set forth in Section 5.07(b).

          “Statutory Reserve Rate” means, with respect to any currency, a fraction (expressed as
a decimal), the numerator of which is the number one and the denominator of which is the number one
minus the aggregate of the maximum reserve, liquid asset, fees or similar requirements (including
any marginal, special, emergency or supplemental reserves or other requirements) established by any
central bank, monetary authority, the Board, the Financial Services Authority, the European Central
Bank or other Governmental Authority for any category of deposits or liabilities customarily used
to fund loans in such currency, expressed in the case of each such requirement as a decimal. Such
reserve, liquid asset, fees or similar requirements shall, in the case of Dollar denominated Loans,
include those imposed pursuant to Regulation D of the Board. Eurocurrency Loans shall be deemed to
be subject to such reserve, liquid asset, fee or similar requirements without benefit of or credit
for proration, exemptions or offsets that may be available from time to time to any Lender under
any applicable law, rule or regulation, including Regulation D of the Board. The Statutory Reserve
Rate shall be adjusted automatically on and as of the effective date of any change in any reserve,
liquid asset or similar requirement.

          “subsidiary” means, with respect to any Person (the “parent”) at any date, any
corporation, limited liability company, partnership, association or other entity the accounts of
which would be consolidated with those of the parent in the parent’s consolidated financial
statements if such financial statements were prepared in accordance with GAAP as of such date, as
well as any other corporation, limited liability company, partnership, association or other entity
of which securities or other ownership interests representing more than 50% of the equity or more
than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the
general partnership interests are, as of such date, owned, controlled or held.

19

 

          “Subsidiary” means any subsidiary of the Company.

          “Swap Agreement” means any agreement with respect to any swap, forward, future or
derivative transaction or option or similar agreement involving, or settled by reference to, one or
more rates, currencies, commodities, equity or debt instruments or securities, or economic,
financial or pricing indices or measures of economic, financial or pricing risk or value or any
similar transaction or any combination of these transactions; provided that no phantom
stock or similar plan providing for payments only on account of services provided by current or
former directors, officers, employees or consultants of the Company or the Subsidiaries shall be a
Swap Agreement.

          “Swingline Exposure” means, at any time, the aggregate principal Dollar Amount of all
Swingline Loans outstanding at such time. The Swingline Exposure of any Lender at any time shall
be its Applicable Percentage of the total Swingline Exposure at such time.

          “Swingline Lender” means JPMorgan Chase Bank, N.A., in its capacity as lender of
Swingline Loans hereunder.

          “Swingline Loan” means a Loan made pursuant to Section 2.05.

          “Swingline Sublimit” means $150,000,000.

          “Syndication Agent” means Citibank, N.A., in its capacity as syndication agent for the
credit facility evidenced by this Agreement.

          “TARGET” means the Trans-European Automated Real-time Gross Settlement Express
Transfer (TARGET) payment system (or, if such payment system ceases to be operative, such other
payment system (if any) reasonably determined by the Administrative Agent to be a suitable
replacement) for the settlement of payments in euro.

          “Taxes” means any and all present or future taxes, levies, imposts, duties,
deductions, charges or withholdings imposed by any Governmental Authority.

          “Transactions” means the execution, delivery and performance by the Borrowers of this
Agreement and the other Loan Documents, the borrowing of Loans and other credit extensions, the use
of the proceeds thereof and the issuance of Letters of Credit hereunder.

          “Type”, when used in reference to any Loan or Borrowing, refers to whether the rate of
interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to the
Adjusted LIBO Rate or the Alternate Base Rate.

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

          “Unfunded Liabilities” means, with respect to any Plan at any time, the amount (if
any) by which (i) the value of all benefit liabilities under such Plan, determined on a plan
termination basis using the assumptions prescribed by the PBGC for purposes of Section 4044 of
ERISA, exceeds (ii) the fair market value of all Plan assets allocable to such liabilities under
Title IV of ERISA (excluding any accrued but unpaid contributions), all determined as of the then
most recent valuation date for such Plan, but only to the extent that such excess represents a
potential liability of a member of the ERISA Group to the Plan, the PBGC or any other Person under
Title IV of ERISA.

20

 

          SECTION 1.02. Classification of Loans and Borrowings. For purposes of this
Agreement, Loans may be classified and referred to by Class (e.g., a “Revolving Loan”) or
by Type (e.g., a “Eurocurrency Loan”) or by Class and Type (e.g., a “Eurocurrency
Revolving Loan”). Borrowings also may be classified and referred to by Class (e.g., a
“Revolving Borrowing”) or by Type (e.g., a “Eurocurrency Borrowing”) or by Class and Type
(e.g., a “Eurocurrency Revolving Borrowing”).

          SECTION 1.03. Terms Generally. The definitions of terms herein shall apply equally
to the singular and plural forms of the terms defined. Whenever the context may require, any
pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”,
“includes” and “including” shall be deemed to be followed by the phrase “without limitation”. The
word “will” shall be construed to have the same meaning and effect as the word “shall”. The word
“law” shall be construed as referring to all statutes, rules, regulations, codes and other laws
(including official rulings and interpretations thereunder having the force of law or with which
affected Persons customarily comply), and all judgments, orders and decrees, of all Governmental
Authorities. Unless the context requires otherwise (a) any definition of or reference to any
agreement, instrument or other document herein shall be construed as referring to such agreement,
instrument or other document as from time to time amended, restated, supplemented or otherwise
modified (subject to any restrictions on such amendments, restatements, supplements or
modifications set forth herein), (b) any definition of or reference to any statute, rule or
regulation shall be construed as referring thereto as from time to time amended, supplemented or
otherwise modified (including by succession of comparable successor laws), (c) any reference herein
to any Person shall be construed to include such Person’s successors and assigns (subject to any
restrictions on assignment set forth herein) and, in the case of any Governmental Authority, any
other Governmental Authority that shall have succeeded to any or all functions thereof, (d) the
words “herein”, “hereof” and “hereunder”, and words of similar import, shall be construed to refer
to this Agreement in its entirety and not to any particular provision hereof, (e) all references
herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and
Sections of, and Exhibits and Schedules to, this Agreement and (f) the words “asset” and “property”
shall be construed to have the same meaning and effect and to refer to any and all tangible and
intangible assets and properties, including cash, securities, accounts and contract rights.

          SECTION 1.04. Accounting Terms; GAAP. Except as otherwise expressly provided herein,
all terms of an accounting or financial nature shall be construed in accordance with GAAP, as in
effect from time to time; provided that, if the Company notifies the Administrative Agent
that the Company requests an amendment to any provision hereof to eliminate the effect of any
change occurring after the date hereof in GAAP or in the application thereof on the operation of
such provision (or if the Administrative Agent notifies the Company that the Required Lenders
request an amendment to any provision hereof for such purpose), regardless of whether any such
notice is given before or after such change in GAAP or in the application thereof, then such
provision shall be interpreted on the basis of GAAP as in effect and applied immediately before
such change shall have become effective until such notice shall have been withdrawn or such
provision amended in accordance herewith. Notwithstanding any other provision contained herein,
all terms of an accounting or financial nature used herein shall be construed, and all computations
of amounts and ratios referred to herein shall be made, without giving effect to any election under
Accounting Standards Codification 825-10-25 (previously referred to as Statement of Financial
Accounting Standards 159) (or any other Accounting Standards Codification or Financial Accounting
Standard having a similar result or effect) to value any Debt or other liabilities of the Company
or any Subsidiary at “fair value”, as defined therein.

21

 

ARTICLE II

The Credits

          SECTION 2.01. Commitments.

          (a) Subject to the terms and conditions set forth herein, each Lender agrees to make
Revolving Loans to the Borrowers in Agreed Currencies from time to time during the Availability
Period in an aggregate principal amount that will not result in, subject to Sections 2.04 and
2.11(b), (a) the Dollar Amount of such Lender’s Revolving Credit Exposure exceeding such Lender’s
Commitment, (b) the sum of the Dollar Amount of the total Revolving Credit Exposures exceeding the
Aggregate Commitment or (c) the Dollar Amount of the total outstanding Revolving Loans denominated
in euro exceeding the Revolver Foreign Currency Sublimit. Within the foregoing limits and subject
to the terms and conditions set forth herein, the Borrowers may borrow, prepay and reborrow
Revolving Loans.

          (b) Subject to the terms and conditions set forth herein and of any Incremental Term Loan
Amendment effected in accordance with Section 2.20, each Lender that has a commitment to fund
Incremental Term Loans in accordance with the provisions of Section 2.20 agrees to make its ratable
share of such Incremental Term Loans to the applicable Borrower on the applicable effective date
for such Incremental Term Loans, in the aggregate principal amount of such Lender’s commitment.

          SECTION 2.02. Revolving Loans and Borrowings. (a) Each Revolving Loan (which, for
the avoidance of doubt, shall exclude any Swingline Loan) shall be made as part of a Borrowing
consisting of Revolving Loans made by the Lenders ratably in accordance with their respective
Commitments. The failure of any Lender to make any Loan required to be made by it shall not
relieve any other Lender of its obligations hereunder; provided that the Commitments of the
Lenders are several and no Lender shall be responsible for any other Lender’s failure to make Loans
as required. Any Swingline Loan shall be made in accordance with the procedures set forth in
Section 2.05.

          (b) Subject to Section 2.14, each Revolving Borrowing shall be comprised entirely of ABR
Loans or Eurocurrency Loans as the relevant Borrower may request in accordance herewith;
provided that each ABR Loan shall only be made in Dollars and shall only be made to the
Company. Each Lender at its option may make any Eurocurrency Revolving Loan by causing any
domestic or foreign branch or Affiliate of such Lender to make such Loan (and in the case of an
Affiliate, the provisions of Sections 2.14, 2.15, 2.16 and 2.17 shall apply to such Affiliate to
the same extent as to such Lender); provided that any exercise of such option shall not
affect the obligation of the relevant Borrower to repay such Loan in accordance with the terms of
this Agreement.

          (c) At the commencement of each Interest Period for any Eurocurrency Revolving Borrowing,
such Borrowing shall be in an aggregate amount that is an integral multiple of $1,000,000 (or, if
such Borrowing is denominated in euro, the Equivalent Amount of euro) and not less than $10,000,000
(or, if such Borrowing is denominated in euro, the Equivalent Amount of euro). At the time that
each ABR Revolving Borrowing is made, such Borrowing shall be in an aggregate amount that is an
integral multiple of $1,000,000 and not less than $10,000,000; provided that an ABR
Revolving Borrowing may be in an aggregate amount that is equal to the entire unused balance of the
Aggregate Commitment or that is required to finance the reimbursement of an LC Disbursement as
contemplated by Section 2.06(e). Borrowings of more than one Type and Class may be outstanding at
the same time.

          (d) Subject to payment of amounts owing under Section 2.16, a Borrower shall be entitled to
request, or to elect to convert or continue, any Revolving Borrowing if the Interest Period
requested with respect thereto would end after the Maturity Date.

22

 

          SECTION 2.03. Requests for Revolving Borrowings. To request a Revolving Borrowing,
the applicable Borrower, or the Company on behalf of the applicable Borrower, shall notify the
Administrative Agent of such request (a) by irrevocable written notice (via a written Borrowing
Request in a form approved by the Administrative Agent and signed by the applicable Borrower, or
the Company on behalf of the Foreign Subsidiary Borrower, promptly followed by telephonic
confirmation of such request) in the case of a Eurocurrency Borrowing, not later than 11:00 a.m.,
Local Time, three (3) Business Days (in the case of a Eurocurrency Borrowing denominated in Dollars
to the Company) or by irrevocable written notice (via a written Borrowing Request in a form
approved by the Administrative Agent and signed by such Borrower, or the Company on its behalf)
not later than four (4) Business Days (in the case of a Eurocurrency Borrowing denominated in a
Foreign Currency or a Eurocurrency Borrowing to the Foreign Subsidiary Borrower), in each case
before the date of the proposed Borrowing or (b) by telephone in the case of an ABR Borrowing, not
later than 11:00 a.m., New York City time, one (1) Business Day before the date of the proposed
Borrowing; provided that any such notice of an ABR Revolving Borrowing to finance the
reimbursement of an LC Disbursement as contemplated by Section 2.06(e) may be given not later than
10:00 a.m., New York City time, on the date of the proposed Borrowing. Each such telephonic
Borrowing Request pursuant to clause (b) in the preceding sentence shall be irrevocable and shall
be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written
Borrowing Request in a form approved by the Administrative Agent and signed by the applicable
Borrower, or the Company on behalf of the Foreign Subsidiary Borrower. Each such telephonic and
written Borrowing Request shall specify the following information in compliance with Section 2.02:

     (i) the name of the applicable Borrower;

     (ii) the aggregate amount of the requested Borrowing;

     (iii) the date of such Borrowing, which shall be a Business Day;

     (iv) whether such Borrowing is to be an ABR Borrowing or a Eurocurrency Borrowing;

     (v) whether and to what extent such Borrowing is a Commercial Paper Borrowing;

     (vi) in the case of a Eurocurrency Borrowing, the Agreed Currency and initial Interest
Period to be applicable thereto, which shall be a period contemplated by the definition of
the term “Interest Period”; and

     (vii) the location and number of the applicable Borrower’s account to which funds are
to be disbursed, which shall comply with the requirements of Section 2.07.

If no election as to the Type of Revolving Borrowing is specified, then, in the case of a Borrowing
denominated in Dollars to the Company, the requested Revolving Borrowing shall be an ABR Borrowing.
If no Interest Period is specified with respect to any requested Eurocurrency Revolving Borrowing,
then the relevant Borrower shall be deemed to have selected an Interest Period of one month’s
duration. Promptly following receipt of a Borrowing Request in accordance with this Section, the
Administrative Agent shall advise each Lender of the details thereof and of the amount of such
Lender’s Loan to be made as part of the requested Borrowing.

          SECTION 2.04. Determination of Dollar Amounts. The Administrative Agent will
determine the Dollar Amount of:

23

 

          (a) each Eurocurrency Borrowing as of the date two (2) Business Days prior to the date of
such Borrowing or, if applicable, the date of conversion/continuation of any Borrowing as a
Eurocurrency Borrowing,

          (b) each Swingline Borrowing (i) as of the date of each request for the applicable Swingline
Borrowing, (ii) in the case of any Swingline Loan in an Agreed Currency other than Dollars or euro
that the Swingline Lender has agreed, in its sole discretion, to continue in accordance with
Section 2.05(c), as of the date two (2) Business Days prior to the date of such continuation and
(iii) any Business Day elected by the Administrative Agent on or after the date on which a
Swingline Loan denominated in a Foreign Currency converts to Dollars pursuant to Section 2.05(d) or
otherwise,

          (c) the LC Exposure (i) as of the date of each request for the issuance, amendment, renewal
or extension of any Letter of Credit and (ii) any Business Day elected by the Administrative Agent
on or after the date on which a Foreign Currency Letter of Credit converts to Dollars pursuant to
Section 2.06(e) or (k) or otherwise,

          (d) any specific outstanding Credit Event as and when otherwise required by this Agreement,
and

          (e) all outstanding Credit Events on and as of the last Business Day of each calendar quarter
and, during the continuation of an Event of Default, on any other Business Day elected by the
Administrative Agent in its discretion or upon instruction by the Required Lenders.

Each day upon or as of which the Administrative Agent determines Dollar Amounts as described in the
preceding clauses (a), (b), (c), (d) and (e) is herein described as a “Computation Date”
with respect to each Credit Event for which a Dollar Amount is determined on or as of such day.

          SECTION 2.05. Swingline Loans. (a) Subject to the terms and conditions set forth
herein, the Swingline Lender agrees to make Swingline Loans in Agreed Currencies to the Borrowers
from time to time during the Availability Period, in an aggregate principal Dollar Amount at any
time outstanding that will not result in (i) the aggregate principal Dollar Amount of outstanding
Swingline Loans exceeding the Swingline Sublimit or (ii) the Dollar Amount of the total Revolving
Credit Exposures exceeding the Aggregate Commitment; provided that the Swingline Lender
shall not be required to make a Swingline Loan to refinance an outstanding Swingline Loan. Within
the foregoing limits and subject to the terms and conditions set forth herein, the Company may
borrow, prepay and reborrow Swingline Loans. Subject to Section 2.14, Swingline Loans shall bear
interest at the rates prescribed in Section 2.13(c).

          (b) Each Swingline Loan shall be in an amount that is an integral multiple of $1,000,000 and
not less than $1,000,000 (or, if such Borrowing is denominated in a Foreign Currency, the
Equivalent Amount of such currency), or such other minimum amounts and multiples as the Swingline
Lender shall determine. To request a Swingline Loan, the applicable Borrower, or the Company on
behalf of the Foreign Subsidiary Borrower, shall notify the Administrative Agent of such request
(i) by telephone (confirmed by telecopy) in the case of a Swingline Loan that is an ABR Loan, and
(ii) by telecopy in all other cases, not later than 12:00 noon, Local Time, on the day of a
proposed Swingline Loan in the case of a Swingline Loan to the Company in Dollars, and not later
than the time agreed upon by the applicable Borrower and Swingline Lender with respect to a
Swingline Loan in a Foreign Currency or to the Foreign Subsidiary Borrower. Each such notice shall
be irrevocable and shall specify the name of the applicable Borrower, the requested date (which
shall be a Business Day), the relevant Agreed Currency, and the requested maturity date and, if
applicable, the Interest Period therefor. Notwithstanding any other provision of this Agreement,
no Borrower shall be entitled to request, or to elect to continue, any

24

 

Swingline Borrowing if the
Interest Period requested with respect thereto would end after the Maturity Date. The
Administrative Agent will promptly advise the Swingline Lender of any such notice received from the
Company or the Foreign Subsidiary Borrower. The Swingline Lender shall make each Swingline Loan
available to the applicable Borrower by means of a credit to the general deposit account of such
Borrower with the Swingline Lender (or, in the case of a Swingline Loan made to finance the
reimbursement of an LC Disbursement as provided in Section 2.06(e), by remittance to the Issuing
Bank) by 3:00 p.m., Local Time, on the requested date of such Swingline Loan; provided,
that Swingline Loans denominated in Danish Kroner may not be available until the next Business Day.

          (c) Subject to Section 2.10, each Borrower hereby unconditionally promises to pay to the
Swingline Lender the then unpaid principal amount of such Swingline Loan with interest on the
earlier of (i) the Maturity Date and (ii) (x) in the case of any Swingline Loan denominated in
Dollars or euro, on the seventh (7th) day after such Swingline Loan is made (or such shorter period
with respect to principal or interest as the Swingline Lender and the applicable Borrower shall
have agreed), and (y) in the case of any Swingline Loan denominated in an Agreed Currency other
than Dollars or euro on the thirtieth (30th) day after such Swingline Loan is made (or such shorter
period with respect to principal or interest as the Swingline Lender and the applicable Borrower
shall have agreed); provided, that upon receipt of written notice from the applicable
Borrower no fewer than four (4) Business Days prior to such Swingline Loan’s due date, the
Swingline Lender may in its sole and absolute discretion agree to continue such Swingline Loan
described in clause (y) as a Swingline Loan for an additional thirty (30) day period (it being
understood and agreed that an Interest Payment Date shall still occur on the then current due
date); provided, however, that no Swingline Loan may be outstanding as a Swingline
Loan for a period greater than 180 consecutive days.

          (d) The Swingline Lender may by written notice given to the Administrative Agent not later
than 10:00 a.m., Local Time, on any Business Day require the Lenders to acquire participations on
such Business Day in all or a portion of the Swingline Loans outstanding, and the Lenders shall
acquire such participations automatically and without notice upon the occurrence of an Event of
Default under clause (h) or (i) of Section 6.01 with respect to the Company or upon an acceleration
of the Loans pursuant to Article VI, in any such case, any such Swingline Loans outstanding in a
Foreign Currency shall, upon the giving of such notice by the Swingline Lender, immediately and
automatically be converted to and redenominated in Dollars equal to the Dollar Amount of each such
Swingline Loan determined as of the date of such conversion and shall thereafter bear interest at
the rate applicable to ABR Borrowings in the case of a Swingline Loan to the Company, and at the
rate applicable to Eurocurrency Borrowings in Dollars with an Interest Period of one month in the
case of a Swingline Loan to the Foreign Subsidiary Borrower. Such notice shall specify the
aggregate Dollar Amount of Swingline Loans in which Lenders will participate. Promptly upon
receipt of such notice, the Administrative Agent will give notice thereof to each Lender,
specifying in such notice such Lender’s Applicable Percentage of such Swingline Loan or Loans.
Each Lender hereby absolutely and unconditionally agrees, upon receipt of notice as provided above,
to pay, in Dollars, to the Administrative Agent, for the account of the Swingline Lender, such
Lender’s Applicable Percentage of the Dollar Amount of such Swingline Loan or Loans. Each Lender
acknowledges and agrees that its obligation to acquire participations in Swingline Loans pursuant
to this paragraph is absolute and unconditional and shall not be affected by any circumstance
whatsoever, including the occurrence and continuance of a Default or reduction or termination of
the Commitments, and that each such payment shall be made without any offset, abatement,
withholding or reduction whatsoever. Each Lender shall comply with its obligation under this
paragraph by wire transfer of immediately available funds, in the same manner as provided in
Section 2.07 with respect to Loans made by such Lender (and Section 2.07 shall apply,
mutatis mutandis, to the payment obligations of the Lenders), and the
Administrative Agent shall promptly pay to the Swingline Lender the amounts so received by it from
the Lenders. The Administrative Agent shall notify the Company of any participations in any
Swingline Loan acquired pursuant to this paragraph, and thereafter

25

 

payments in respect of such
Swingline Loan shall be made in Dollars to the Administrative Agent and not to the Swingline
Lender. Any amounts received by the Swingline Lender from either Borrower (or other party on
behalf of such Borrower) in respect of a Swingline Loan after receipt by the Swingline Lender of
the proceeds of a sale of participations therein shall be promptly remitted to the Administrative
Agent; any such amounts received by the Administrative Agent shall be promptly remitted by the
Administrative Agent to the Lenders that shall have made their payments pursuant to this paragraph
and to the Swingline Lender, as their interests may appear; provided that any such payment
so remitted shall be repaid to the Swingline Lender or to the Administrative Agent, as applicable,
if and to the extent such payment is required to be refunded to either Borrower for any reason.
The purchase of participations in a Swingline Loan pursuant to this paragraph shall not relieve
either Borrower of any default in the payment thereof.

          SECTION 2.06. Letters of Credit. (a) General. Subject to the terms and
conditions set forth herein, the Company may request the issuance of Letters of Credit denominated
in Agreed Currencies for its own account or for the account of any of its Subsidiaries (the Company
or any such Subsidiary, in such capacity, a “LC Account Party”), in a form reasonably
acceptable to the Administrative Agent and the Issuing Bank, at any time and from time to time
during the Availability Period; provided, however, that, (i) notwithstanding the
issuance of any Letter of Credit for the account of any Subsidiary of the Company, any and all
reimbursement obligations in respect of any LC Disbursement, fees, costs, expenses, indemnities or
other obligations owing with respect any such Letter of Credit under this Agreement shall
constitute primary obligations of the Company (and, if the Issuing Bank so requests, such
obligations shall be joint and several obligations the Company and such Subsidiary, as evidenced by
a separate agreement in form and substance reasonably satisfactory to the Company and the Issuing
Bank, signed by such Subsidiary, providing for such joint and several liability and affirming such
Subsidiary’s assumption of all of the covenants and other obligations set forth in this Section
2.06) and (ii) notwithstanding anything in clause (i) to the contrary, the Foreign Subsidiary
Borrower or any other Foreign Subsidiary (other than a Foreign Subsidiary that is a Subsidiary of a
U.S. Person and that is disregarded as separate and apart from such U.S. Person for U.S. federal
income tax purposes) constituting an L/C Account Party shall be liable only to repay reimbursement
obligations in respect of any LC Disbursement, fees, costs, expenses, indemnities or other
obligations owing with respect to Letters of Credit issued for the account of the Foreign
Subsidiary Borrower or such other Foreign Subsidiary (other than a Foreign Subsidiary that is a
Subsidiary of a U.S. Person and that is disregarded as separate and apart from such U.S. Person for
U.S. federal income tax purpose). In the event of any inconsistency between the terms and
conditions of this Agreement and the terms and conditions of any form of letter of credit
application or other agreement submitted by the Company to, or entered into by the Company with,
the Issuing Bank relating to any Letter of Credit, the terms and conditions of this Agreement shall
control. For all purposes of the Loan Documents, the letters of credit identified on Schedule
2.06 (the “Existing Letters of Credit”) shall be deemed to be “Letters of Credit”
issued on the Effective Date by the respective Issuing Banks identified on such Schedule.

          (b) Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To
request the issuance of a Letter of Credit (or the amendment, renewal or extension of an
outstanding Letter of Credit), the Company shall hand deliver or telecopy (or transmit by
electronic communication, if arrangements for doing so have been approved by the Issuing Bank), for
itself or on behalf of any L/C Account Party, to the Issuing Bank and the Administrative Agent
(reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice
requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended,
renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which
shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply
with paragraph (c) of this Section), the L/C Account Party or L/C Account Parties, the amount of
such Letter of Credit, the Agreed Currency applicable thereto, the name and address of the
beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or
extend such Letter of Credit. If requested by the Issuing Bank, the Company

26

 

also shall submit a
letter of credit application on the Issuing Bank’s standard form in connection with any request for
a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and
upon issuance, amendment, renewal or extension of each Letter of Credit the Company shall be deemed
to represent and warrant that), after giving effect to such issuance, amendment, renewal or
extension (i) the Dollar Amount of the LC Exposure shall not exceed the LC Sublimit, (ii) the sum
of the Dollar Amount of the total Revolving Credit Exposures shall not exceed the Aggregate
Commitment.

          (c) Expiration Date. Each Letter of Credit shall expire at or prior to the close of
business on the earlier of (i) the date one year after the date of the issuance of such Letter of
Credit (or, in the case of any renewal or extension thereof, one year after such renewal or
extension) and (ii) the date that is five (5) Business Days prior to the Maturity Date;
provided that, subject to satisfaction of conditions applicable to renewals of Letters of
Credit herein, any Letter of Credit with a one-year tenor may provide for the automatic renewal
thereof for additional one-year periods (which, in no event, shall extend beyond the date referred
to in clause (ii) of this paragraph).

          (d) Participations. By the issuance of a Letter of Credit (or an amendment to a
Letter of Credit increasing the amount thereof) and without any further action on the part of the
Issuing Bank or the Lenders, the Issuing Bank hereby grants to each Lender, and each Lender hereby
acquires from the Issuing Bank, a participation in such Letter of Credit equal to such Lender’s
Applicable Percentage of the aggregate Dollar Amount available to be drawn under such Letter of
Credit. In consideration and in furtherance of the foregoing, each Lender hereby absolutely and
unconditionally agrees to pay to the Administrative Agent, for the account of the Issuing Bank,
such Lender’s Applicable Percentage of each LC Disbursement made by the Issuing Bank and not
reimbursed by the Company or any applicable L/C Account Party on the date due as provided in
paragraph (e) of this Section, or of any reimbursement payment required to be refunded to the
Company or any applicable L/C Account Party for any reason. Each Lender acknowledges and agrees
that its obligation to acquire participations pursuant to this paragraph in respect of Letters of
Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever,
including any amendment, renewal or extension of any Letter of Credit or the occurrence and
continuance of a Default or reduction or termination of the Commitments, and that each such payment
shall be made without any offset, abatement, withholding or reduction whatsoever.

          (e) Reimbursement. If the Issuing Bank shall make any LC Disbursement in respect of
a Letter of Credit, the Company shall reimburse such LC Disbursement by paying to the
Administrative Agent, subject to this Section 2.06(e) and Section 2.06(k), in the Agreed Currency
which was paid by the Issuing Bank pursuant to such LC Disbursement in an amount equal to such LC
Disbursement) not later than 12:00 noon Local Time (or 3:00 p.m. Local Time in the event that the
Company is reimbursing such LC Disbursement with proceeds of a Swingline Loan), on the date that
such LC Disbursement is made, if the Company shall have received notice of such LC Disbursement
prior to 10:00 a.m., Local Time, on such date, or, if such notice has not been received by the
Company prior to such time on such date, then not later than 12:00 noon, Local Time, on the
Business Day immediately following the day that the Company receives such notice; provided
that, if such LC Disbursement is not less than the Equivalent Amount of $1,000,000, the Company
may, subject to the conditions to borrowing set forth herein, request in accordance with Section
2.03 or 2.05 that such payment be financed with an ABR Revolving Borrowing (in the case of any LC
Disbursement made in Dollars) or a Swingline Loan (in the case of an LC Disbursement made in any
Agreed Currency that is also an Agreed Currency for Swingline Loans) in the amount of such LC
Disbursement and, to the extent so financed, the Company’s obligation to make such payment shall be
discharged and replaced by the resulting ABR Revolving Borrowing or Swingline Loan. If the Company
fails to make such payment when due, then (i) if such payment relates to a Foreign Currency Letter
of Credit, automatically and with no further action required, the obligation to reimburse the
applicable LC Disbursement shall be permanently converted into an obligation to reimburse the
Dollar Amount calculated as of the date when such payment was due, of such LC Disbursement and (ii)
in any

27

 

such case, the Administrative Agent shall notify each Lender of the applicable LC
Disbursement, the payment then due from the Company in respect thereof and such Lender’s Applicable
Percentage thereof. Promptly following receipt of such notice, each Lender shall pay to the
Administrative Agent its Applicable Percentage of the payment then due from the Company, in
Dollars, in the same manner as provided in Section 2.07 with respect to Loans made by such Lender
(and Section 2.07 shall apply, mutatis mutandis, to the payment obligations of the
Lenders), and the Administrative Agent shall promptly pay to the Issuing Bank the amounts so
received by it from the Lenders. Promptly following receipt by the Administrative Agent of any
payment from the Company pursuant to this paragraph, the Administrative Agent shall distribute such
payment to the Issuing Bank or, to the extent that Lenders have made payments pursuant to this
paragraph to reimburse the Issuing Bank, then to such Lenders and the Issuing Bank as their
interests may appear. Any payment made by a Lender pursuant to this paragraph to reimburse the
Issuing Bank for any LC Disbursement (other than the funding of ABR Revolving Loans or a Swingline
Loan as contemplated above) shall not constitute a Loan and shall not relieve the Company of its
obligation to reimburse such LC Disbursement.

          (f) Obligations Absolute. The Company’s obligation to reimburse LC Disbursements as
provided in paragraph (e) of this Section shall be absolute, unconditional and irrevocable, and
shall be performed strictly in accordance with the terms of this Agreement under any and all
circumstances whatsoever and irrespective of (i) any lack of validity or enforceability of any
Letter of Credit or this Agreement, or any term or provision therein, (ii) any draft or other
document presented under a Letter of Credit proving to be forged, fraudulent or invalid in any
respect or any statement therein being untrue or inaccurate in any respect, (iii) payment by the
Issuing Bank under a Letter of Credit against presentation of a draft or other document that does
not comply with the terms of such Letter of Credit, or (iv) any other event or circumstance
whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of
this Section, constitute a legal or equitable discharge of, or provide a right of setoff against,
the Company’s obligations hereunder. Neither the Administrative Agent, the Lenders nor the Issuing
Bank, nor any of their Related Parties, shall have any liability or responsibility by reason of or
in connection with the issuance or transfer of any Letter of Credit or any payment or failure to
make any payment thereunder (irrespective of any of the circumstances referred to in the preceding
sentence), or any error, omission, interruption, loss or delay in transmission or delivery of any
draft, notice or other communication under or relating to any Letter of Credit (including any
document required to make a drawing thereunder), any error in interpretation of technical terms or
any consequence arising from causes beyond the control of the Issuing Bank; provided that
the foregoing shall not be construed to excuse the Issuing Bank from liability to the Company to
the extent of any direct damages (as opposed to consequential damages, claims in respect of which
are hereby waived by the Company to the extent permitted by applicable law) suffered by the Company
that are caused by the Issuing Bank’s failure to exercise care when determining whether drafts and
other documents presented under a Letter of Credit comply with the terms thereof. The parties
hereto expressly agree that, in the absence of gross negligence or willful misconduct on the part
of the Issuing Bank (as determined by a court of competent jurisdiction by final and nonappealable
judgment), the Issuing Bank shall be deemed to have exercised care in each such determination. In
furtherance of the foregoing and without limiting the generality thereof, the parties agree that,
with respect to documents presented which appear on their face to be in substantial compliance with
the terms of a Letter of Credit, the Issuing Bank may, in its sole discretion, either accept and
make payment upon such documents without responsibility for further investigation, regardless of
any notice or information to the contrary, or refuse to accept and make payment upon such documents
if such documents are not in strict compliance with the terms of such Letter of Credit.

          (g) Disbursement Procedures. The Issuing Bank shall, promptly following its receipt
thereof, examine all documents purporting to represent a demand for payment under a Letter of
Credit. The Issuing Bank shall promptly notify the Administrative Agent and the Company by
telephone (confirmed by telecopy) of such demand for payment and whether the Issuing Bank has made
or will

28

 

make an LC Disbursement thereunder; provided that any failure to give or delay in
giving such notice shall not relieve the Company of its obligation to reimburse the Issuing Bank
and the Lenders with respect to any such LC Disbursement.

          (h) Interim Interest. If the Issuing Bank shall make any LC Disbursement, then,
unless the Company shall reimburse such LC Disbursement in full on the date such LC Disbursement is
made, the unpaid amount thereof shall bear interest, for each day from and including the date such
LC Disbursement is made to but excluding the date that the Company reimburses such LC Disbursement,
at the rate per annum then applicable to ABR Revolving Loans plus the Applicable Rate (or,
in the case such LC Disbursement is and continues to be denominated in a Foreign Currency, at the
Overnight Foreign Currency Rate for such Agreed Currency plus the then effective Applicable
Rate with respect to Eurocurrency Revolving Loans); provided that, if the Company fails to
reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section
2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the
Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant
to paragraph (e) of this Section to reimburse the Issuing Bank shall be for the account of such
Lender to the extent of such payment.

          (i) Replacement of the Issuing Bank. The Issuing Bank may be replaced at any time by
written agreement among the Company, the Administrative Agent, the replaced Issuing Bank and the
successor Issuing Bank. The Administrative Agent shall notify the Lenders of any such replacement
of the Issuing Bank. At the time any such replacement shall become effective, the Company shall
pay all unpaid fees accrued for the account of the replaced Issuing Bank pursuant to Section
2.12(b). From and after the effective date of any such replacement, (i) the successor Issuing Bank
shall have all the rights and obligations of the Issuing Bank under this Agreement with respect to
Letters of Credit to be issued thereafter and (ii) references herein to the term “Issuing Bank”
shall be deemed to refer to such successor or to any previous Issuing Bank, or to such successor
and all previous Issuing Banks, as the context shall require. After the replacement of an Issuing
Bank hereunder, the replaced Issuing Bank shall remain a party hereto and shall continue to have
all the rights and obligations of an Issuing Bank under this Agreement with respect to Letters of
Credit then outstanding and issued by it prior to such replacement, but shall not be required to
issue additional Letters of Credit.

          (j) Cash Collateralization. If any Event of Default shall occur and be continuing,
on the Business Day that the Company receives notice from the Administrative Agent or the Required
Lenders (or, if the maturity of the Loans has been accelerated, Lenders with LC Exposure
representing greater than 50% of the total LC Exposure) demanding the deposit of cash collateral
pursuant to this paragraph, the Company shall deposit in an account with the Administrative Agent,
in the name of the Administrative Agent and for the benefit of the Lenders (the “LC Collateral
Account”), an amount in cash equal to 105% of the Dollar Amount of the LC Exposure as of such
date plus any accrued and unpaid interest thereon; provided that (i) the portions of such
amount attributable to undrawn Foreign Currency Letters of Credit or LC Disbursements in a Foreign
Currency that the Company is not late in reimbursing shall be deposited in the applicable Foreign
Currencies in the actual amounts of such undrawn Letters of Credit and LC Disbursements and (ii)
the obligation to deposit such cash collateral shall become effective immediately, and such deposit
shall become immediately due and payable, without demand or other notice of any kind, upon the
occurrence of any Event of Default with respect to the Company described in clause (h) or (i) of
Article VI. For the purposes of this paragraph, the Foreign Currency LC Exposure shall be
calculated using the applicable Exchange Rate on the date notice demanding cash collateralization
is delivered to the Company. The Company also shall deposit cash collateral pursuant to this
paragraph as and to the extent required by Section 2.11(b). Such deposit shall be held by the
Administrative Agent as collateral for the payment and performance of the Obligations. The
Administrative Agent shall have exclusive dominion and control, including the exclusive right of
withdrawal, over such account. Other than any interest earned on the investment of such deposits,
which

29

 

investments shall be made at the option and sole discretion of the Administrative Agent and
at the Company’s risk and expense, such deposits shall not bear interest. Interest or profits, if
any, on such investments shall accumulate in such account. Moneys in such account shall be applied
by the Administrative Agent to reimburse the Issuing Bank for LC Disbursements for which it has not
been reimbursed and, to the extent not so applied, shall be held for the satisfaction of the
reimbursement obligations of the Company for the LC Exposure at such time or, if the maturity of
the Loans has been accelerated (but subject to the consent of Lenders with LC Exposure
representing greater than 50% of the total LC Exposure), be applied to satisfy other Obligations.
If the Company is required to provide an amount of cash collateral hereunder as a result of the
occurrence of an Event of Default, such amount and all interest thereon (to the extent not applied
as aforesaid) shall be returned to the Company (A) if provided within three (3) Business Days after
all Events of Default have been cured or waived, and (B) if provided pursuant to Section 2.11(b),
within three (3) Business Days after cover for LC Disbursements pursuant to Section 2.11(b) is no
longer necessary to eliminate the excess referred to therein.

          (k) Conversion. In the event that the Loans become immediately due and payable on
any date pursuant to Article VI or upon an Event of Default of the type described in clause (h) or
(i) of Section 6.01 with respect to the Company, all amounts (i) that the Company is at the time or
thereafter becomes required to reimburse or otherwise pay to the Administrative Agent in respect of
LC Disbursements made under any Foreign Currency Letter of Credit (other than amounts in respect of
which the Company has deposited cash collateral pursuant to paragraph (j) above, if such cash
collateral was deposited in the applicable Foreign Currency to the extent so deposited or applied),
(ii) that the Lenders are at the time or thereafter become required to pay to the Administrative
Agent and the Administrative Agent is at the time or thereafter becomes required to distribute to
the Issuing Bank pursuant to paragraph (e) of this Section in respect of unreimbursed LC
Disbursements made under any Foreign Currency Letter of Credit and (iii) of each Lender’s
participation in any Foreign Currency Letter of Credit under which an LC Disbursement has been made
shall, automatically and with no further action required, be converted into the Dollar Amount,
calculated using the Administrative Agent’s Exchange Rates on such date (or in the case of any LC
Disbursement made after such date, on the date such LC Disbursement is made), of such amounts. On
and after such conversion, all amounts accruing and owed to the Administrative Agent, the Issuing
Bank or any Lender in respect of the obligations described in this paragraph shall accrue and be
payable in Dollars at the rates otherwise applicable hereunder.

          (l) New Money Events; Country Risk Events; Change in Law. If the Issuing Bank is
requested to issue Letters of Credit in a Foreign Currency or for the account of any Foreign
Subsidiary and the Issuing Bank deems, in its reasonable judgment, that complying with such request
may at any time subject it to a New Money Credit Event or a Country Risk Event, the Company and the
LC Account Party shall, at the request of the Issuing Bank, guaranty and indemnify the Issuing Bank
against any and all costs, liabilities and losses resulting from such New Money Credit Event or
Country Risk Event, in each case in a form and substance reasonably satisfactory to the Issuing
Bank. Notwithstanding any other provision of this Agreement, if, after the Closing Date, any
Change in Law shall make it unlawful for an Issuing Bank to issue Letters of Credit denominated in
a Foreign Currency, then by prompt written notice thereof to the Company and to the Administrative
Agent (which notice shall be withdrawn whenever such circumstances no longer exist), such Issuing
Bank may declare that Letters of Credit will not thereafter be issued by it in the affected Foreign
Currency or Foreign Currencies, whereupon the affected Foreign Currency or Foreign Currencies shall
be deemed (for the duration of such declaration) not to constitute a Foreign Currency for purposes
of the issuance of Letters of Credit by such Issuing Bank.

          (m) Reporting Requirements for Issuing Bank. In addition to the notices otherwise
required under this Section 2.06, the Issuing Bank (or if the Issuing Bank is an Affiliate of a
Lender, then the applicable Lender) shall, no later than the tenth Business Day following the last
day of each month, provide to the Administrative Agent, schedules, in form and substance reasonably
satisfactory to the

30

 

Administrative Agent, showing the date of issue, L/C Account Party or L/C
Account Parties, amount, currency, expiration date and the reference number of each Letter of
Credit issued by it outstanding at any time during such month and the aggregate amount payable by
the Company and, if applicable, any other L/C Account Party, during such month; provided,
however, that the failure to provide such schedules or information shall not result in any
liability on the part of the Issuing Bank. In addition, upon the request of the Administrative
Agent, the Issuing Bank (or applicable Lender if the Issuing Bank is an Affiliate of a Lender)
shall furnish to the Administrative Agent copies of any Letter of Credit and any request with
respect to a Letter of Credit to which the Issuing Bank is party and such other documentation as
may reasonably be requested by the Administrative Agent. Upon the reasonable request of any
Lender, the Administrative Agent will provide to such Lender information concerning such Letters of
Credit.

          SECTION 2.07. Funding of Borrowings. (a) Each Lender shall make each Loan to be
made by it hereunder on the proposed date thereof by wire transfer of immediately available funds
(i) in the case of Loans denominated in Dollars to the Company, by 12:00 noon, Chicago time, to the
account of the Administrative Agent most recently designated by it for such purpose by notice to
the Lenders and (ii) in the case of each Loan denominated in a Foreign Currency or to the Foreign
Subsidiary Borrower, by 12:00 noon, Local Time, in the city of the Administrative Agent’s
Eurocurrency Payment Office for such currency and Borrower and at such Eurocurrency Payment Office
for such currency and Borrower; provided that Swingline Loans shall be made as provided in
Section 2.05. The Administrative Agent will make such Loans available to the relevant Borrower by
promptly crediting the amounts so received, in like funds, to (x) an account of the Company
maintained with the Administrative Agent in New York City or Chicago and designated by the Company
in the applicable Borrowing Request, in the case of Loans denominated in Dollars to the Company and
(y) an account of such Borrower in the relevant jurisdiction and designated by such Borrower in the
applicable Borrowing Request, in the case of Loans denominated in a Foreign Currency or to the
Foreign Subsidiary Borrower; provided that ABR Revolving Loans or Swingline Loans made to
finance the reimbursement of an LC Disbursement as provided in Section 2.06(e) shall be remitted by
the Administrative Agent to the Issuing Bank.

          (b) Unless the Administrative Agent shall have received notice from a Lender prior to the
proposed date of any Borrowing that such Lender will not make available to the Administrative Agent
such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has
made such share available on such date in accordance with paragraph (a) of this Section and may, in
reliance upon such assumption, make available to the relevant Borrower a corresponding amount. In
such event, if a Lender has not in fact made its share of the applicable Borrowing available to the
Administrative Agent, then the applicable Lender and such Borrower severally agree to pay to the
Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each
day from and including the date such amount is made available to such Borrower to but excluding the
date of payment to the Administrative Agent, at (i) in the case of such Lender, the greater of the
Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with
banking industry rules on interbank compensation (in the case of amounts denominated in Dollars)
and greater of the Overnight Foreign Currency Rate and the rate determined by the Administrative
Agent in accordance with banking industry rules on interbank compensation to be the cost to it of
funding such amount (in the case of amounts denominated in a Foreign Currency) or (ii) in the case
of such Borrower, the interest rate applicable to ABR Loans (in the case of a Borrowing denominated
in Dollars) or the rate reasonably determined by the Administrative Agent to be the cost to it of
funding such amount (in the case of a Borrowing denominated in a Foreign Currency). If such Lender
pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s Loan
included in such Borrowing.

          SECTION 2.08. Interest Elections for Revolving Borrowings. (a) Each Revolving
Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the
case of a Eurocurrency Revolving Borrowing, shall have an initial Interest Period as specified in
such Borrowing

31

 

Request. Thereafter, the relevant Borrower may elect to convert such Borrowing to a
different Type or to continue such Borrowing and, in the case of a Eurocurrency Revolving
Borrowing, may elect Interest Periods therefor, all as provided in this Section. A Borrower may
elect different options with respect to different portions of the affected Borrowing, in which case
each such portion shall be allocated ratably among the Lenders holding the Loans comprising such
Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing.
This Section shall not apply to Swingline Borrowings, which shall be administered in accordance
with Section 2.05.

          (b) To make an election pursuant to this Section, a Borrower, or the Company on its behalf,
shall notify the Administrative Agent of such election (by telephone or irrevocable written notice
in the case of a Borrowing denominated in Dollars or by irrevocable written notice (via an Interest
Election Request in a form approved by the Administrative Agent and signed by such Borrower, or the
Company on its behalf) in the case of a Borrowing denominated in a Foreign Currency by the time
that a Borrowing Request would be required under Section 2.03 if such Borrower were requesting a
Revolving Borrowing of the Type resulting from such election to be made on the effective date of
such election. Each such telephonic Interest Election Request shall be irrevocable and shall be
confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Interest
Election Request in a form approved by the Administrative Agent and signed by the relevant
Borrower, or the Company on its behalf. Notwithstanding any contrary provision herein, this
Section shall not be construed to permit any Borrower to (i) change the currency of any Borrowing,
(ii) elect an Interest Period for Eurocurrency Loans that does not comply with Section 2.02(d) or
(iii) convert any Borrowing to a Borrowing of a Type that is not available.

          (c) Each telephonic and written Interest Election Request shall specify the following
information in compliance with Section 2.02:

     (i) The name of the applicable Borrower;

     (ii) the Borrowing to which such Interest Election Request applies and, if different
options are being elected with respect to different portions thereof, the portions thereof
to be allocated to each resulting Borrowing (in which case the information to be specified
pursuant to clauses (iii) and (iv) below shall be specified for each resulting Borrowing);

     (iii) the effective date of the election made pursuant to such Interest Election
Request, which shall be a Business Day;

     (iv) whether the resulting Borrowing is to be an ABR Borrowing or a Eurocurrency
Borrowing; and

     (v) if the resulting Borrowing is a Eurocurrency Borrowing, the Interest Period and
Agreed Currency to be applicable thereto after giving effect to such election, which
Interest Period shall be a period contemplated by the definition of the term “Interest
Period”.

If any such Interest Election Request requests a Eurocurrency Borrowing but does not specify an
Interest Period, then the applicable Borrower shall be deemed to have selected an Interest Period
of one month’s duration.

          (d) Promptly following receipt of an Interest Election Request, the Administrative Agent
shall advise each Lender of the details thereof and of such Lender’s portion of each resulting
Borrowing.

32

 

          (e) If the relevant Borrower fails to deliver a timely Interest Election Request with respect
to a Eurocurrency Revolving Borrowing prior to the end of the Interest Period applicable thereto,
then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period (i) in
the case of a Borrowing denominated in Dollars borrowed by the Company, such Borrowing shall be
converted to an ABR Borrowing and (ii) in the case of a Borrowing denominated in a Foreign Currency
(or in Dollars by the Foreign Subsidiary Borrower) in respect of which the applicable Borrower
shall have failed to deliver an Interest Election Request prior to the third (3rd)
Business Day preceding the end of such Interest Period, such Borrowing shall automatically continue
as a Eurocurrency Borrowing in the same Agreed Currency with an Interest Period of one month unless
such Eurocurrency Borrowing is or was repaid in accordance with Section 2.11. Notwithstanding any
contrary provision hereof, if an Event of Default has occurred and is continuing and the
Administrative Agent, at the request of the Required Lenders, so notifies the Company, then, so
long as an Event of Default is continuing (i) no outstanding Revolving Borrowing borrowed by the
Company may be converted to or continued as a Eurocurrency Borrowing, (ii) unless repaid, each
Eurocurrency Revolving Borrowing borrowed by the Company shall be converted to an ABR Borrowing
(and any such Eurocurrency Revolving Borrowing in a Foreign Currency shall be redenominated in
Dollars at the time of such conversion) at the end of the Interest Period applicable thereto and
(iii) unless repaid, each Eurocurrency Revolving Borrowing by the Foreign Subsidiary Borrower shall
automatically be continued as a Eurocurrency Borrowing with an Interest Period of one month.

          SECTION 2.09. Termination and Reduction of Commitments; Termination of Facility. (a)
Unless previously terminated, the Commitments shall terminate on the Maturity Date.

          (b) The Company may at any time terminate, or from time to time reduce, the Commitments;
provided that (i) each reduction of the Commitments shall be in an amount that is an
integral multiple of $1,000,000 and not less than $10,000,000 and (ii) the Company shall not
terminate or reduce the Commitments if, after giving effect to any concurrent prepayment of the
Loans in accordance with Section 2.11, the Dollar Amount of the sum of the Revolving Credit
Exposures would exceed the Aggregate Commitment.

          (c) The Company shall notify the Administrative Agent of any election to terminate or reduce
the Commitments under paragraph (b) of this Section at least three (3) Business Days prior to the
effective date of such termination or reduction, specifying such election and the effective date
thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the
Lenders of the contents thereof. Each notice delivered by the Company pursuant to this Section
shall be irrevocable; provided that a notice of termination of the Commitments delivered by
the Company may state that such notice is conditioned upon the effectiveness of other credit
facilities or debt financing, in which case such notice may be revoked by the Company (by notice to
the Administrative Agent on or prior to the specified effective date) if such condition is not
satisfied. Any termination or reduction of the Commitments shall be permanent. Each reduction of
the Commitments shall be made ratably among the Lenders in accordance with their respective
Commitments.

          (d) Any such termination of the Commitments specifying termination of this Agreement shall be
(i) accompanied by (A) the payment in full of all outstanding Loans, together with accrued interest
thereon, and the cancellation and return of all outstanding Letters of Credit (or the cash
collateralization of 105% of the Dollar Amount thereof), (B) the payment in full in cash of all
reimbursable expenses and other Obligations (other than contingent indemnity obligations), and (C)
with respect to any Eurocurrency Loans prepaid, payment of the amounts due under Section 2.16, if
any and (ii) effected pursuant to a payoff letter in form and substance reasonably satisfactory to
the Company and the Administrative Agent.

33

 

          SECTION 2.10. Repayment of Loans; Evidence of Debt. (a) Each Borrower hereby
unconditionally promises to pay (i) to the Administrative Agent for the account of each Lender the
then unpaid principal amount of each Revolving Loan made to such Borrower on the Maturity Date in
the currency of such Loan and (ii) to the Swingline Lender the then unpaid principal amount of each
Swingline Loan made to such Borrower as and when, and in the currency, required by Sections 2.05(c)
and (d). The applicable Borrower shall repay any Incremental Term Loan made to such Borrower on
the dates and in such increments as shall be determined with respect to such Incremental Term Loans
in accordance with Section 2.20.

          (b) Each Lender shall maintain in accordance with its usual practice an account or accounts
evidencing the indebtedness of each Borrower to such Lender resulting from each Loan made by such
Lender, including the amounts of principal and interest payable and paid to such Lender from time
to time hereunder.

          (c) The Administrative Agent shall maintain accounts in which it shall record (i) the amount
of each Loan made hereunder, the Class, Agreed Currency and Type thereof and the Interest Period
applicable thereto, (ii) the amount of any principal or interest due and payable or to become due
and payable from each Borrower to each Lender hereunder and (iii) the amount of any sum received by
the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof.

          (d) The entries made in the accounts maintained pursuant to paragraph (b) or (c) of this
Section shall be prima facie evidence of the existence and amounts of the
obligations recorded therein; provided that the failure of any Lender or the Administrative
Agent to maintain such accounts or any error therein shall not in any manner affect the obligation
of any Borrower to repay the Loans in accordance with the terms of this Agreement.

          (e) Any Lender may request that Loans made by it to any Borrower be evidenced by a promissory
note. In such event, the relevant Borrower shall prepare, execute and deliver to such Lender a
promissory note payable to the order of such Lender (or, if requested by such Lender, to such
Lender and its registered assigns) and in a form approved by the Administrative Agent. Thereafter,
the Loans evidenced by such promissory note and interest thereon shall at all times (including
after assignment pursuant to Section 8.04) be represented by one or more promissory notes in such
form payable to the order of the payee named therein (or, if any such promissory note is a
registered note, to such payee and its registered assigns).

          SECTION 2.11. Prepayment of Loans.

          (a) Any Borrower shall have the right at any time and from time to time to prepay any
Borrowing in whole or in part, subject to prior notice in accordance with the provisions of this
Section 2.11(a). The applicable Borrower, or the Company on behalf of the applicable Borrower,
shall notify the Administrative Agent (and, in the case of prepayment of a Swingline Loan, the
Swingline Lender) by telephone (confirmed by telecopy) of any prepayment hereunder (i) in the case
of prepayment of a Eurocurrency Revolving Borrowing, not later than 11:00 a.m., Local Time, three
(3) Business Days (in the case of a Eurocurrency Borrowing denominated in Dollars) or four (4)
Business Days (in the case of a Eurocurrency Borrowing denominated in a Foreign Currency), in each
case before the date of prepayment, (ii) in the case of prepayment of an ABR Revolving Borrowing,
not later than 11:00 a.m., New York City time, one (1) Business Day before the date of prepayment
or (iii) in the case of prepayment of a Swingline Loan, not later than 12:00 noon, Local Time, on
the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment
date and the principal amount of each Borrowing or portion thereof to be prepaid; provided
that, if a notice of prepayment is given in connection with a conditional notice of termination of
the Commitments as contemplated by Section 2.09, then such

34

 

notice of prepayment may be revoked if
such notice of termination is revoked in accordance with Section 2.09. Promptly following receipt
of any such notice relating to a Revolving Borrowing, the Administrative Agent shall advise the
Lenders of the contents thereof. Each partial prepayment of any Revolving Borrowing shall be in an
amount that would be permitted in the case of an advance of a Revolving Borrowing of the same Type
as provided in Section 2.02. Each prepayment of a Revolving Borrowing shall be applied ratably to
the Loans included in the prepaid Borrowing. Prepayments shall be accompanied by (i) accrued
interest to the extent required by Section 2.13 and 2.05(c) and (ii) break funding payments
pursuant to Section 2.16.

          (b) If at any time, (i) other than as a result of fluctuations in currency exchange rates,
the sum of the aggregate principal Dollar Amount of all of the Revolving Credit Exposures
(calculated, with respect to those Credit Events denominated in Foreign Currencies, as of the most
recent Computation Date with respect to each such Credit Event) exceeds the Aggregate Commitment,
or (ii) solely as a result of fluctuations in currency exchange rates, (w) the sum of the aggregate
principal Dollar Amount of all of the outstanding Revolving Credit Exposures (as so calculated)
exceeds 105% of the Aggregate Commitment, (x) the aggregate principal Dollar Amount of all
Revolving Loans denominated in euro (as so calculated) exceeds 105% of the Revolver Foreign
Currency Sublimit, (y) the aggregate principal Dollar Amount of all Swingline Loans (as so
calculated) exceeds 105% of the Swingline Sublimit, or (z) the aggregate Dollar Amount of all LC
Exposures (as so calculated) exceeds 105% of the LC Sublimit, the Borrowers shall in each case
immediately repay Borrowings and, in the case of the circumstances under clause (z) or otherwise if
no Borrowings are then outstanding, cash collateralize LC Exposure in an account with the
Administrative Agent pursuant to Section 2.06(j), as applicable, in an aggregate principal amount
sufficient to cause (1) the aggregate Dollar Amount of all Revolving Credit Exposures to be less
than or equal to the Aggregate Commitment, (2) the aggregate principal Dollar Amount of all
Revolving Loans denominated in euro to be less than or equal to the Revolver Foreign Currency
Sublimit, (3) the aggregate principal Dollar Amount of all Swingline Loans to be less than or equal
to the Swing Line Sublimit and (4) the aggregate Dollar Amount of all LC Exposures to be less than
or equal to the LC Sublimit, as applicable.

          SECTION 2.12. Fees. (a) The Company agrees to pay to the Administrative Agent for
the account of each Lender a facility fee, which shall accrue at the Applicable Rate on the daily
amount of the Commitment of such Lender (whether used or unused) during the period from and
including the Effective Date to but excluding the date on which such Commitment terminates;
provided that, if such Lender continues to have any Revolving Credit Exposure after its
Commitment terminates, then such facility fee shall continue to accrue on the daily amount of such
Lender’s Revolving Credit Exposure from and including the date on which its Commitment terminates
to but excluding the date on which such Lender ceases to have any Revolving Credit Exposure.
Accrued facility fees shall be payable in arrears on fifteen (15) days after the last day of March,
June, September and December of each year and on the date on which the Commitments terminate,
commencing on the first such date to occur after the date hereof; provided that any
facility fees accruing after the date on which the Commitments terminate shall be payable on
demand. All facility fees shall be computed on the basis of a year of 360 days and shall be
payable for the actual number of days elapsed (including the first day but excluding the last day).

          (b) The Company agrees to pay (i) to the Administrative Agent for the account of each
Lender a participation fee with respect to its participations in Letters of Credit, which shall
accrue at the same Applicable Rate used to determine the interest rate applicable to Eurocurrency
Revolving Loans on the average daily Dollar Amount of such Lender’s LC Exposure (excluding any
portion thereof attributable to unreimbursed LC Disbursements) during the period from and including
the Effective Date to but excluding the later of the date on which such Lender’s Commitment
terminates and the date on which such Lender ceases to have any LC Exposure, and (ii) to the
Issuing Bank for its own account a fronting fee, which shall accrue at the rate of 0.125% per annum
on the average daily Dollar Amount of

35

 

the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements)
attributable to Letters of Credit issued by the Issuing Bank during the period from and including
the Effective Date to but excluding the later of the date of termination of the Commitments and the
date on which there ceases to be any LC Exposure, as well as the Issuing Bank’s standard fees and
commissions (in such Agreed Currencies as the Issuing Bank shall require) with respect to the
issuance, amendment, cancellation, negotiation, transfer, presentment, renewal or extension of any
Letter of Credit or processing of drawings thereunder. Unless otherwise specified above,
participation fees and fronting fees accrued through and including the last day of March, June,
September and December of each year shall be payable on the fifteenth (15th)
Business Day following such last day, commencing on the first such date to occur after the
Effective Date; provided that all such fees shall be payable on the date on which the
Commitments terminate and any such fees accruing after the date on which the Commitments terminate
shall be payable on demand. Any other fees payable to the Issuing Bank pursuant to this paragraph
shall be payable within ten (10) days after demand. All participation fees and fronting fees shall
be computed on the basis of a year of 360 days and shall be payable for the actual number of days
elapsed (including the first day but excluding the last day).

          (c) The Company agrees to pay to the Administrative Agent and the Arrangers, for their own
account, fees payable in the amounts and at the times separately agreed upon between the Company
and the Administrative Agent or any Arranger.

          (d) All fees payable hereunder shall be paid on the dates due, in Dollars (except as otherwise
expressly provided in this Section 2.12) and immediately available funds, to the Administrative
Agent (or to the Issuing Bank, in the case of fees payable to it) for distribution, in the case of
facility fees and participation fees, to the Lenders. Fees paid shall not be refundable under any
circumstances.

          SECTION 2.13. Interest. (a) The Loans comprising each ABR Borrowing (including each
Swingline Loan that is an ABR Borrowing) shall bear interest at the Alternate Base Rate plus the
Applicable Rate.

          (b) The Loans comprising each Eurocurrency Borrowing shall bear interest at the Adjusted LIBO
Rate for the Interest Period in effect for such Borrowing plus the Applicable Rate.

          (c) Except as otherwise provided in Section 2.05 following the conversion of a Swingline Loan
to Dollars, each Swingline Loan shall bear interest (a) for Dollar denominated Swingline Loans, at
such rate as shall be quoted by the Swingline Lender to the relevant Borrower, but which interest
rate shall not exceed the Alternate Base Rate plus the Applicable Rate, and (b) for Swingline Loans
denominated in a Foreign Currency, at the applicable local rate of interest as determined by the
Swingline Lender and quoted by the Swingline Lender to the relevant Borrower, as adjusted for
associated cost rates or other applicable reserve rates (including that Statutory Rescue Rate and,
in the case of Swingline Loans by the Swingline Lender from its office or branch in the United
Kingdom, the Mandatory Cost), as applicable, and, in each case, as agreed between the relevant
Borrower and the Swingline Lender at the time such Swingline Loan is made.

          (d) Notwithstanding the foregoing, if any principal of or interest on any Loan or any fee or
other amount payable by any Borrower hereunder is not paid when due, whether at stated maturity,
upon acceleration or otherwise, such overdue amount shall bear interest, after as well as before
judgment, at a rate per annum equal to (i) in the case of overdue principal and interest of any
Loan, 2% plus the rate otherwise applicable to such Loan as provided in the preceding paragraphs of
this Section or (ii) in the case of any other amount, 2% plus the rate applicable to ABR Loans as
provided in paragraph (a) of this Section.

36

 

          (e) Accrued interest on each Revolving Loan shall be payable in arrears on each Interest
Payment Date for such Revolving Loan and upon termination of the Commitments and accrued interest
on each Swingline Loan shall be payable in arrears on each Interest Payment Date as and when
determined in accordance with Section 2.05(c); provided that (i) interest accrued pursuant
to paragraph (d) of this Section shall be payable on demand, (ii) in the event of any repayment or
prepayment of any Loan (other than a prepayment of an ABR Revolving Loan prior to the end of the
Availability Period), accrued interest on the principal amount repaid or prepaid shall be payable
on the date of such repayment or prepayment and (iii) in the event of any conversion of any
Eurocurrency Revolving Loan prior to the end of the current Interest Period therefor, accrued
interest on such Loan shall be payable on the effective date of such conversion.

          (f) All interest hereunder shall be computed on the basis of a year of 360 days, except that
interest (i) computed by reference to the Alternate Base Rate at times when the Alternate Base Rate
is based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a
leap year) and (ii) for Borrowings denominated in Pounds Sterling shall be computed on the basis of
a year of 365 days, and in each case shall be payable for the actual number of days elapsed
(including the first day but excluding the last day). The applicable Alternate Base Rate, Adjusted
LIBO Rate or LIBO Rate shall be determined by the Administrative Agent, and such determination
shall be conclusive absent manifest error.

          SECTION 2.14. Alternate Rate of Interest. If prior to the commencement of any
Interest Period for a Eurocurrency Borrowing or any Swingline Loan:

     (a) the Administrative Agent or the Swingline Lender determines (which determination
shall be conclusive absent manifest error) that adequate and reasonable means do not exist
for ascertaining the Adjusted LIBO Rate, the LIBO Rate or the rate applicable to such
Swingline Loan, as applicable, for such Interest Period; or

     (b) the Administrative Agent is advised by the Required Lenders or the Swingline Lender
that the Adjusted LIBO Rate, the LIBO Rate or the rate applicable to such Swingline Loan, as
applicable, for such Interest Period will not adequately and fairly reflect the cost to such
Lenders (or Lender) of making or maintaining their Loans (or its Loan) included in such
Borrowing for such Interest Period;

then the Administrative Agent shall give notice thereof to the applicable Borrower and the Lenders
by telephone or telecopy as promptly as practicable thereafter and, until the Administrative Agent
notifies the applicable Borrower and the Lenders that the circumstances giving rise to such notice
no longer exist, (a) in the case of a Eurocurrency Borrowing, (i) any Interest Election Request
that requests the conversion of any Revolving Borrowing to, or continuation of any Revolving
Borrowing as, a Eurocurrency Borrowing shall be ineffective and any such Eurocurrency Borrowing
shall be repaid on the last day of the then current Interest Period applicable thereto or, if such
Eurocurrency Loan is in Dollars, continued as an ABR Borrowing, (ii) any Eurocurrency Borrowing
that is requested to be continued shall be repaid on the last day of the then current Interest
Period applicable thereto or, if such Eurocurrency Loan is in Dollars, continued as an ABR
Borrowing and (iii) if any Borrowing Request by the Company requests a Eurocurrency Revolving
Borrowing in Dollars, such Borrowing shall be made as an ABR Borrowing (and if any Borrowing
Request requests a Eurocurrency Revolving Borrowing by the Foreign Subsidiary Borrower or
denominated in a Foreign Currency, such Borrowing Request shall be ineffective); and (b) in the
case of any such Swingline Borrowing (i) any request for the continuation of any such Swingline
Loan for an additional thirty (30) days in accordance with Section 2.05(c) shall be ineffective and
any such Swingline Borrowing shall be repaid on the on the last day of the then current Interest
Period applicable thereto, and (ii) any request for any such Swingline Loan shall be ineffective;
provided that if

37

 

the circumstances giving rise to such notice affect only one Type of Borrowings, then the other
Type of Borrowings shall be permitted.

          SECTION 2.15. Increased Costs. (a) If any Change in Law shall:

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

     (ii) impose on any Lender or the Issuing Bank or the London interbank market any other
condition, cost or expense affecting this Agreement or Eurocurrency Loans or Swingline Loans
made by such Lender or any Letter of Credit or participation therein;

and the result of any of the foregoing shall be to increase the cost to such Lender of making or
maintaining any Eurocurrency Loan or Swingline Loan or of maintaining its obligation to make any
such Loan (including, without limitation, pursuant to any conversion of any Borrowing denominated
in an Agreed Currency into a Borrowing denominated in any other Agreed Currency) or to increase the
cost to such Lender or the Issuing Bank of participating in, issuing or maintaining any Letter of
Credit (including, without limitation, pursuant to any conversion of any Borrowing denominated in
an Agreed Currency into a Borrowing denominated in any other Agreed Currency) or to reduce the
amount of any sum received or receivable by such Lender or the Issuing Bank hereunder, whether of
principal, interest or otherwise (including, without limitation, pursuant to any conversion of any
Borrowing denominated in an Agreed Currency into a Borrowing denominated in any other Agreed
Currency) (except, in each case, for an increase in costs or a reduction in amounts received
relating to Taxes, which shall be solely governed by Section 2.17), then the applicable Borrower
will pay to such Lender or the Issuing Bank, as the case may be, such additional amount or amounts
as will compensate such Lender or the Issuing Bank, as the case may be, for such additional costs
incurred or reduction suffered.

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

          (c) A certificate of a Lender or the Issuing Bank setting forth the amount or amounts
necessary to compensate such Lender or the Issuing Bank or its holding company, as the case may be,
as specified in paragraph (a) or (b) of this Section shall be delivered to the Company and shall be
conclusive absent manifest error. The Company shall pay, or cause any other Person obligated
thereon to pay, such Lender or the Issuing Bank, as the case may be, the amount shown as due on any
such certificate within ten (10) days after receipt thereof.

          (d) Failure or delay on the part of any Lender or the Issuing Bank to demand compensation
pursuant to this Section shall not constitute a waiver of such Lender’s or the Issuing Bank’s right
to demand such compensation; provided that the Company shall not be required to compensate a

38

 

Lender or the Issuing Bank pursuant to this Section for any increased costs or reductions
incurred more than 180 days prior to the date that such Lender or the Issuing Bank, as the case may
be, notifies the Company of the Change in Law giving rise to such increased costs or reductions and
of such Lender’s or the Issuing Bank’s intention to claim compensation therefor; provided
further that, if the Change in Law giving rise to such increased costs or reductions is
retroactive, then the 180-day period referred to above shall be extended to include the period of
retroactive effect thereof.

          SECTION 2.16. Break Funding Payments. In the event of (a) the payment of any
principal of any (i) Eurocurrency Loan or (ii) Swingline Loan that has an Interest Period, other
than on the last day of an Interest Period applicable thereto (including as a result of an Event of
Default or as a result of any prepayment pursuant to Section 2.11), (b) the conversion of any
Eurocurrency Loan other than on the last day of the Interest Period applicable thereto, (c) the
failure to borrow, convert, continue or prepay any (i) Eurocurrency Loan or (ii) Swingline Loan
that has an Interest Period, on the date specified in any notice delivered pursuant hereto
(regardless of whether such notice may be revoked under Section 2.11(a) and is revoked in
accordance therewith) or (d) the assignment of any (i) Eurocurrency Loan or (ii) Swingline Loan
that has an Interest Period, other than on the last day of the Interest Period applicable thereto
as a result of a request by the Company pursuant to Section 2.19, then, in any such event, the
applicable Borrower shall compensate each Lender for the loss, cost and expense attributable to
such event. Such loss, cost or expense to any Lender shall be deemed to include an amount
determined by such Lender to be the excess, if any, of (i) the amount of interest which would have
accrued on the principal amount of such Loan had such event not occurred, at the Adjusted LIBO Rate
or other rate applicable to any such Swingline Loan that would have been applicable to such Loan
(but excluding any margin), for the period from the date of such event to the last day of the then
current Interest Period therefor (or, in the case of a failure to borrow, convert or continue, for
the period that would have been the Interest Period for such Loan), over (ii) the amount of
interest which would accrue on such principal amount for such period at the interest rate which
such Lender would bid were it to bid, at the commencement of such period, for deposits in the
relevant currency of a comparable amount and period from other banks in the Eurocurrency or other
applicable market. For the avoidance of doubt, each of the foregoing references to Swingline Loans
in this Section 2.16 shall exclude any Swingline Loan that is an ABR Loan. A certificate of any
Lender setting forth any amount or amounts that such Lender is entitled to receive pursuant to this
Section shall be delivered to the applicable Borrower and shall be conclusive absent manifest
error. The applicable Borrower shall pay such Lender the amount shown as due on any such
certificate within ten (10) days after receipt thereof.

          SECTION 2.17. Taxes. (a) Any and all payments by or on account of any obligation of
each Borrower hereunder shall be made free and clear of and without deduction for any Indemnified
Taxes or Other Taxes; provided that if any Borrower shall be required to deduct any
Indemnified Taxes or Other Taxes from such payments, then (i) the sum payable shall be increased as
necessary so that after making all required deductions (including deductions applicable to
additional sums payable under this Section) the Administrative Agent, Lender or Issuing Bank (as
the case may be) receives an amount equal to the sum it would have received had no such deductions
been made, (ii) the withholding agent that is required to deduct or withhold by law shall make such
deductions and (iii) such withholding agent shall pay the full amount deducted to the relevant
Governmental Authority in accordance with applicable law.

          (b) In addition, each Borrower shall pay any Other Taxes related to such Borrower and imposed
on or incurred by the Administrative Agent, a Lender or the Issuing Bank to the relevant
Governmental Authority in accordance with applicable law.

          (c) The relevant Borrower shall indemnify the Administrative Agent, each Lender and the
Issuing Bank, within ten (10) days after written demand therefor, for the full amount of any
Indemnified Taxes or Other Taxes paid by the Administrative Agent, such Lender or the Issuing Bank,
as

39

 

the case may be, on or with respect to any payment by or on account of any obligation of such
Borrower hereunder (including Indemnified Taxes or Other Taxes imposed or asserted on or
attributable to amounts payable under this Section) and any penalties, interest and reasonable
expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes or Other
Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A
certificate as to the amount of such payment or liability delivered to the Company by a Lender or
the Issuing Bank, or by the Administrative Agent on its own behalf or on behalf of a Lender or the
Issuing Bank, shall be conclusive absent manifest error.

          (d) As soon as practicable after any payment of Indemnified Taxes or Other Taxes by any
Borrower or withholding agent to a Governmental Authority, such Borrower shall deliver to the
Administrative Agent the original or a certified copy of a receipt issued by such Governmental
Authority evidencing such payment, a copy of the return reporting such payment or other evidence of
such payment reasonably satisfactory to the Administrative Agent.

          (e) Any Foreign Lender that is entitled to an exemption from or reduction of withholding tax
with respect to payments under this Agreement shall deliver to such Borrower (with a copy to the
Administrative Agent), at the time or times prescribed by applicable law, such properly completed
and executed documentation prescribed by applicable law or reasonably requested by such Borrower as
will permit such payments to be made without withholding or at a reduced rate.

          Without limiting the generality of the foregoing, in the event that the Borrower is a U.S.
Person,

     (i) any Lender that is a U.S. Person (other than a corporation) shall deliver to the
Borrower and the Administrative Agent on or prior to the date on which such Lender becomes a
Lender under this Agreement (and from time to time thereafter upon the request of the
Borrower or the Administrative Agent), executed originals of Internal Revenue Service Form
W-9 or such other documentation or information prescribed by applicable laws or reasonably
requested by the Borrower or the Administrative Agent as will enable the Borrower or the
Administrative Agent, as the case may be, to determine whether or not such Lender is subject
to backup withholding or information reporting requirements; and

     (ii) any Foreign Lender (other than a Foreign Lender that is a U.S. Person) shall, to
the extent it is legally entitled to do so, deliver to the Borrower and the Administrative
Agent (in such number of copies as shall be requested by the recipient) on or prior to the
date on which such Foreign Lender becomes a Lender under this Agreement (and from time to
time thereafter upon the request of the Borrower or the Administrative Agent), whichever of
the following is applicable:

(1) executed originals of Internal Revenue Service Form W-8BEN
claiming eligibility for benefits of an income tax treaty to which
the United States of America is a party;

(2) executed originals of Internal Revenue Service Form W-8ECI;

(3) in the case of a Foreign Lender claiming the benefits of the
exemption for portfolio interest under section 881(c) of the Code,
(x) a certificate to the effect that such Foreign Lender is not a
“bank” within the meaning of section 881(c)(3)(A) of the Code, a “10
percent shareholder” of the Borrower within the meaning of section
881(c)(3)(B) of the Code, or a “controlled foreign corporation”
described in section

40

 

881(c)(3)(C) of the Code and the interest payments in question are
not effectively connected with a U.S. trade or business conducted by
such Foreign Lender or are effectively connected but are not
includible in the Foreign Lender’s gross income for U.S. federal
income tax purposes under an income tax treaty and (y) executed
originals of Internal Revenue Service Form W-8BEN; or

(4) to the extent a Foreign Lender is not the beneficial owner
of any payment hereunder, executed originals of Internal Revenue
Service Form W-8IMY, accompanied by a Form W-8ECI, W-8BEN, Form W-9,
and/or other certification documents from each beneficial owner of
such payment, as applicable.

     (iii) If a payment made to a Lender under any Loan Document would be subject to U.S.
withholding Tax imposed by Sections 1471 through 1474 of the Code and any regulations or
official interpretations thereof if such Lender fails to comply with the applicable
reporting requirements, such Lender shall deliver to the Borrower and the Administrative
Agent documentation reasonably requested by the Borrower and/or the Administrative Agent
sufficient for the Administrative Agent and/or the Borrower to comply with their respective
obligations under Sections 1471 through 1474 of the Code and any regulations or official
interpretations thereof.

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

          (f) If the Administrative Agent, Issuing Bank or a Lender determines, in its sole discretion,
that it has received a refund or credit of any Indemnified Taxes or Other Taxes as to which it has
been indemnified by the Borrowers or with respect to which a Borrower has paid additional amounts
pursuant to this Section 2.17, it shall pay over such refund or credit to such Borrower (but only
to the extent of indemnity payments made, or additional amounts paid, by such Borrower under this
Section 2.17 with respect to the Indemnified Taxes or Other Taxes giving rise to such refund or
credit), net of all out-of-pocket expenses of the Administrative Agent or such Lender and without
interest (other than any interest paid by the relevant Governmental Authority with respect to such
refund or credit); provided, that such Borrower, upon the request of the Administrative
Agent or such Lender, agrees to repay the amount paid over to such Borrower (plus any penalties,
interest or other charges imposed by the relevant Governmental Authority) to the Administrative
Agent or such Lender in the event the Administrative Agent or such Lender is required to repay such
refund or credit to such Governmental Authority. This Section shall not be construed to require the
Administrative Agent or any Lender to make available its tax returns (or any other information
relating to its taxes which it deems confidential) to any Borrower or any other Person.

          SECTION 2.18. Payments Generally; Pro Rata Treatment; Sharing of Set-offs.

          (a) Each Borrower shall make each payment required to be made by it hereunder (whether of
principal, interest, fees or reimbursement of LC Disbursements, or of amounts payable under Section
2.15, 2.16 or 2.17, or otherwise) prior to (i) in the case of payments denominated in Dollars by
the Company, 12:00 noon, New York City time and (ii) in the case of payments denominated in a
Foreign Currency or by the Foreign Subsidiary Borrower, 12:00 noon, Local Time, in the city of the
Administrative Agent’s Eurocurrency Payment Office for such currency, in each case on the date when
due, in immediately available funds, without set-off or counterclaim. Any amounts received after
such

41

 

time on any date may, in the discretion of the Administrative Agent, be deemed to have been
received on the next succeeding Business Day for purposes of calculating interest thereon. All
such payments shall be made (i) in the same currency in which the applicable Credit Event was made
(or where such currency has been converted in accordance with the terms hereof in the as-converted
currency) and (ii) to the Administrative Agent at its offices at 10 South Dearborn Street, Chicago,
Illinois 60603 or, in the case of a Credit Event denominated in a Foreign Currency or to the
Foreign Subsidiary Borrower, the Administrative Agent’s Eurocurrency Payment Office for such
currency, except payments to be made directly to the Issuing Bank or Swingline Lender as expressly
provided herein and except that payments pursuant to Sections 2.15, 2.16, 2.17 and 8.03 shall be
made directly to the Persons entitled thereto. The Administrative Agent shall distribute any such
payments denominated in the same currency received by it for the account of any other Person to the
appropriate recipient promptly following receipt thereof. If any payment hereunder shall be due on
a day that is not a Business Day, the date for payment shall be extended to the next succeeding
Business Day, and, in the case of any payment accruing interest, interest thereon shall be payable
for the period of such extension. Notwithstanding the foregoing provisions of this Section, if,
after the making of any Credit Event in any Foreign Currency, currency control or exchange
regulations are imposed in the country which issues such currency with the result that the type of
currency in which the Credit Event was made (the “Original Currency”) no longer exists, or
any Borrower is not able to make payment to the Administrative Agent for the account of the Lenders
in such Original Currency, or the terms of this Agreement require the conversion of such Credit
Event into a Dollars, then all payments to be made by such Borrower hereunder in such currency
shall, to the fullest extent permitted by law, instead be made when due in Dollars in an amount
equal to the Dollar Amount (as of the date of repayment) of such payment due, it being the
intention of the parties hereto that the Borrowers take all risks of the imposition of any such
currency control or exchange regulations or conversion, and each Borrower agrees to indemnify and
hold harmless the Swingline Lender, the Issuing Bank, the Administrative Agent and the Lenders from
and against any loss resulting from any Credit Event made to or for the benefit of such Borrower
denominated in a Foreign Currency that is not repaid to the Swingline Lender, the Issuing Bank, the
Administrative Agent or the Lenders, as the case may be, in the Original Currency.

          (b) If at any time insufficient funds are received by and available to the Administrative
Agent to pay fully all amounts of principal, unreimbursed LC Disbursements, interest and fees then
due hereunder, such funds shall be applied (i) first, towards payment of interest and fees then due
hereunder, ratably among the parties entitled thereto in accordance with the amounts of interest
and fees then due to such parties, and (ii) second, towards payment of principal and unreimbursed
LC Disbursements then due hereunder, ratably among the parties entitled thereto in accordance with
the amounts of principal and unreimbursed LC Disbursements then due to such parties.

          (c) At the election of the Administrative Agent, all payments of principal, interest, LC
Disbursements, fees, premiums, reimbursable expenses (including, without limitation, all
reimbursement for fees and expenses pursuant to Section 8.03), and other sums payable under the
Loan Documents, may be paid from the proceeds of Borrowings made hereunder whether made following a
request by a Borrower (or the Company on behalf of a Borrower) pursuant to Section 2.03 or a deemed
request as provided in this Section or may be deducted from any deposit account of such Borrower
maintained with the Administrative Agent. Each Borrower hereby irrevocably authorizes (i) the
Administrative Agent to make a Borrowing for the purpose of paying each payment of principal,
interest and fees as it becomes due hereunder or any other amount due under the Loan Documents and
agrees that all such amounts charged shall constitute Loans (including Swingline Loans) and that
all such Borrowings shall be deemed to have been requested pursuant to Sections 2.03, 2.04 or 2.05,
as applicable and (ii) the Administrative Agent to charge any deposit account of the relevant
Borrower maintained with the Administrative Agent for each payment of principal, interest and fees
as it becomes due hereunder or any other amount due under the Loan Documents.

42

 

          (d) If any Lender shall, by exercising any right of set-off or counterclaim or otherwise,
obtain payment in respect of any principal of or interest on any of its Revolving Loans or
participations in LC Disbursements or Swingline Loans resulting in such Lender receiving payment of
a greater proportion of the aggregate amount of its Revolving Loans and participations in LC
Disbursements and Swingline Loans and accrued interest thereon than the proportion received by any
other Lender, then the Lender receiving such greater proportion shall purchase (for cash at face
value) participations in the Revolving Loans and participations in LC Disbursements and Swingline
Loans of other Lenders to the extent necessary so that the benefit of all such payments shall be
shared by the Lenders ratably in accordance with the aggregate amount of principal of and accrued
interest on their respective Revolving Loans and participations in LC Disbursements and Swingline
Loans; provided that (i) if any such participations are purchased and all or any portion of
the payment giving rise thereto is recovered, such participations shall be rescinded and the
purchase price restored to the extent of such recovery, without interest, and (ii) the provisions
of this paragraph shall not be construed to apply to any payment made by any Borrower pursuant to
and in accordance with the express terms of this Agreement or any payment obtained by a Lender as
consideration for the assignment of or sale of a participation in any of its Loans or
participations in LC Disbursements and Swingline Loans to any assignee or participant, other than
to the Company or any Subsidiary or Affiliate thereof (as to which the provisions of this paragraph
shall apply). Each Borrower consents to the foregoing and agrees, to the extent it may effectively
do so under applicable law, that any Lender acquiring a participation pursuant to the foregoing
arrangements may exercise against such Borrower rights of set-off and counterclaim with respect to
such participation as fully as if such Lender were a direct creditor of such Borrower in the amount
of such participation.

          (e) Unless the Administrative Agent shall have received notice from the relevant Borrower
prior to the date on which any payment is due to the Administrative Agent for the account of the
Lenders or the Issuing Bank hereunder that such Borrower will not make such payment, the
Administrative Agent may assume that such Borrower has made such payment on such date in accordance
herewith and may, in reliance upon such assumption, distribute to the Lenders or the Issuing Bank,
as the case may be, the amount due. In such event, if such Borrower has not in fact made such
payment, then each of the Lenders or the Issuing Bank, as the case may be, severally agrees to
repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender or
Issuing Bank with interest thereon, for each day from and including the date such amount is
distributed to it to but excluding the date of payment to the Administrative Agent, at the greater
of the Federal Funds Effective Rate (in the case of an amount denominated in Dollars) and a rate
determined by the Administrative Agent in accordance with banking industry rules on interbank
compensation (including without limitation the Overnight Foreign Currency Rate in the case of Loans
denominated in a Foreign Currency).

          (f) If any Lender shall fail to make any payment required to be made by it pursuant to Section
2.05(d), 2.06(d) or (e), 2.07(b), 2.18(e) or 8.03(c), then the Administrative Agent may, in its
discretion (notwithstanding any contrary provision hereof), (i) apply any amounts thereafter
received by the Administrative Agent for the account of such Lender and for the benefit of the
Administrative Agent, the Swingline Lender or the Issuing Bank to satisfy such Lender’s obligations
under such Sections until all such unsatisfied obligations are fully paid and/or (ii) hold any such
amounts in a segregated account as cash collateral for, and application to, any future funding
obligations of such Lender under such Sections; in the case of each of (i) and (ii) above, in any
order as determined by the Administrative Agent in its discretion.

          SECTION 2.19. Mitigation Obligations; Replacement of Lenders. (a) If any Lender
requests compensation under Section 2.15, or if any Borrower is required to pay any additional
amount to any Lender or any Governmental Authority for the account of any Lender pursuant to
Section 2.17, then such Lender shall use reasonable efforts to designate a different lending office
for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to
another of its offices, branches or

43

 

affiliates, if, in the judgment of such Lender, such designation or assignment (i) would
eliminate or reduce amounts payable pursuant to Section 2.15 or 2.17, as the case may be, in the
future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not
otherwise be materially disadvantageous to such Lender. The Company hereby agrees to pay all
reasonable costs and expenses incurred by any Lender in connection with any such designation or
assignment.

          (b) If (i) any Lender requests compensation under Section 2.15 or (ii) any Borrower is
required to pay any additional amount to any Lender or any Governmental Authority for the account
of any Lender pursuant to Section 2.17 or (iii) any Lender becomes a Defaulting Lender, then the
Company may, at its sole expense and effort, upon notice to such Lender and the Administrative
Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject
to the restrictions contained in Section 8.04), all its interests, rights and obligations under the
Loan Documents to an assignee that shall assume such obligations (which assignee may be another
Lender, if a Lender accepts such assignment); provided that (i) the Company shall have
received the prior written consent of the Administrative Agent (and if a Commitment is being
assigned, the Principal Issuing Bank), which consent shall not unreasonably be withheld, (ii) such
Lender shall have received payment of an amount equal to the outstanding principal of its Loans and
participations in LC Disbursements and Swingline Loans, accrued interest thereon, accrued fees and
all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding
principal and accrued interest and fees) or the Company (in the case of all other amounts) and
(iii) in the case of any such assignment resulting from a claim for compensation under Section 2.15
or payments required to be made pursuant to Section 2.17, such assignment will result in a
reduction in such compensation or payments. A Lender shall not be required to make any such
assignment and delegation if, prior thereto, as a result of a waiver by such Lender or otherwise,
the circumstances entitling the Company to require such assignment and delegation cease to apply.

          SECTION 2.20. Expansion Option. The Company may from time to time elect to increase
the Commitments or enter into one or more tranches of term loans (each an “Incremental Term
Loan”), in each case in minimum increments of $50,000,000 and multiples of $1,000,000, so long
as, after giving effect thereto, the aggregate amount of such increases and all such Incremental
Term Loans does not exceed $250,000,000. The Company may arrange for any such increase or tranche
to be provided by one or more Lenders (each Lender so agreeing to an increase in its Commitment, or
to participate in such Incremental Term Loans, an “Increasing Lender”), or by one or more
new banks, financial institutions or other entities (each such new bank, financial institution or
other entity, an “Augmenting Lender”), to increase their existing Commitments, or to
participate in such Incremental Term Loans, or extend Commitments, as the case may be;
provided that (i) each Augmenting Lender, shall be subject to the approval of the Company,
the Administrative Agent and, in the case of an increase to the Commitments, the Principal Issuing
Bank and (ii) (x) in the case of an Increasing Lender, the Company and such Increasing Lender
execute an agreement substantially in the form of Exhibit C hereto, and (y) in the case of
an Augmenting Lender, the Company and such Augmenting Lender execute an agreement substantially in
the form of Exhibit D hereto. No consent of any Lender (other than the Lenders
participating in the increase or any Incremental Term Loan) shall be required for any increase in
Commitments or Incremental Term Loan pursuant to this Section 2.20. Increases and new Commitments
and Incremental Term Loans created pursuant to this Section 2.20 shall become effective on the date
agreed by the Company, the Administrative Agent and the relevant Increasing Lenders or Augmenting
Lenders and the Administrative Agent shall notify each Lender thereof. Notwithstanding the
foregoing, no increase in the Commitments (or in the Commitment of any Lender) or tranche of
Incremental Term Loans shall become effective under this paragraph unless, (i) on the proposed date
of the effectiveness of such increase or Incremental Term Loans, (A) the conditions set forth in
paragraphs (a) and (b) of Section 4.02 shall be satisfied or waived by the Required Lenders and the
Administrative Agent shall have received a certificate to that effect dated such date and executed
by a Financial Officer of the Company

44

 

and (B) the Company shall be in compliance (on a Pro Forma Basis reasonably acceptable to the
Administrative Agent) with the covenants contained in Section 5.07 and (C) the Company shall have
reaffirmed its guaranty of the obligations of the Foreign Subsidiary Borrower (such reaffirmation
to be in writing and in form and substance reasonably satisfactory to the Administrative Agent) and
(ii) the Administrative Agent shall have received documents (including opinions) consistent with
those delivered on the Effective Date as to the corporate power and authority of the Borrowers to
borrow hereunder after giving effect to such increase. On the effective date of any increase in
the Commitments or any Incremental Term Loans being made, (i) each relevant Increasing Lender and
Augmenting Lender shall make available to the Administrative Agent such amounts in immediately
available funds as the Administrative Agent shall determine, for the benefit of the other Lenders,
as being required in order to cause, after giving effect to such increase and the use of such
amounts to make payments to such other Lenders, each Lender’s portion of the outstanding Revolving
Loans of all the Lenders to equal its Applicable Percentage of such outstanding Revolving Loans,
and (ii) except in the case of any Incremental Term Loans, the Borrowers shall be deemed to have
repaid and reborrowed all outstanding Revolving Loans as of the date of any increase in the
Commitments (with such reborrowing to consist of the Types of Revolving Loans, with related
Interest Periods if applicable, specified in a notice delivered by the applicable Borrower, or the
Company on behalf of the applicable Borrower, in accordance with the requirements of Section 2.03).
The deemed payments made pursuant to clause (ii) of the immediately preceding sentence shall be
accompanied by payment of all accrued interest on the amount prepaid and, in respect of each
Eurocurrency Loan, shall be subject to indemnification by the Borrowers pursuant to the provisions
of Section 2.16 if the deemed payment occurs other than on the last day of the related Interest
Periods. The Incremental Term Loans (a) shall rank pari passu in right of payment with the
Revolving Loans, (b) shall not mature earlier than the Maturity Date (but may have amortization
prior to such date) and (c) shall be treated substantially the same as (and in any event no more
favorably than) the Revolving Loans; provided that (i) the terms and conditions applicable
to any tranche of Incremental Term Loans maturing after the Maturity Date may provide for material
additional or different (y) financial or other covenants applicable only during periods after the
Maturity Date or (y) prepayment requirements and (ii) the Incremental Term Loans may be priced
differently than the Revolving Loans. Incremental Term Loans may be made hereunder pursuant to an
amendment or amendment or restatement (an “Incremental Term Loan Amendment”) of this
Agreement and, as appropriate, the other Loan Documents, executed only by the Borrowers, each
Lender participating in such tranche, and the Administrative Agent. The Incremental Term Loan
Amendment may, without the consent of any other Lenders, effect such amendments to this Agreement
and the other Loan Documents as may be necessary or appropriate, in the reasonable opinion of the
Administrative Agent, to effect the provisions of this Section 2.20.

          SECTION 2.21. Market Disruption. Notwithstanding the satisfaction of all conditions
referred to in Article II and Article IV with respect to any Credit Event to be effected in any
Foreign Currency, if (a) there shall occur on or prior to the date of such Credit Event any change
in national or international financial, political or economic conditions or currency exchange rates
or exchange controls which would in the reasonable opinion of the Administrative Agent, the
Swingline Lender (if such Credit Event is a Swingline Loan), the Issuing Bank (if such Credit Event
is a Letter of Credit) or the Required Lenders make it impracticable for the Borrowings or Letters
of Credit comprising such Credit Event to be denominated in the Agreed Currency specified by the
applicable Borrower or (b) an Equivalent Amount of such currency is not readily calculable, then
the Administrative Agent shall forthwith give notice thereof to such Borrower, the Lenders and, if
such Credit Event is a Letter of Credit, the Issuing Bank, and such Credit Events shall not be
denominated in such Agreed Currency but shall, except as otherwise set forth in Section 2.07, be
made on the date of such Credit Event in Dollars, (i) if such Credit Event is a Borrowing, in an
aggregate principal amount equal to the Dollar Amount of the aggregate principal amount specified
in the related Credit Event Request or Interest Election Request, as the case may be, as ABR Loans
(if the applicable Borrower is the Company), unless such Borrower notifies the Administrative Agent
at least one Business Day before such date that (A) it elects not to borrow on such

45

 

date or (B) it elects to borrow on such date in a different Agreed Currency, as the case may
be, in which the denomination of such Loans would in the reasonable opinion of the Swingline Lender
(if such Credit Event is a Swingline Loan) and the Administrative Agent, or the Administrative
Agent and the Required Lenders (if such Credit Event is a Revolving Loan) be practicable and in an
aggregate principal amount equal to the Dollar Amount of the aggregate principal amount specified
in the related Credit Event Request or Interest Election Request, as the case may be or (ii) if
such Credit Event is a Letter of Credit, in a face amount equal to the Dollar Amount of the face
amount specified in the related request or application for such Letter of Credit, unless such
Borrower notifies the Administrative Agent at least one Business Day before such date that (A) it
elects not to request the issuance of such Letter of Credit on such date or (B) it elects to have
such Letter of Credit issued on such date in a different Agreed Currency, as the case may be, in
which the denomination of such Letter of Credit would in the reasonable opinion of the Issuing Bank
and the Administrative Agent be practicable and in face amount equal to the Dollar Amount of the
face amount specified in the related request or application for such Letter of Credit, as the case
may be.

          SECTION 2.22. Judgment Currency. If for the purposes of obtaining judgment in any
court it is necessary to convert a sum due from any Borrower hereunder in the currency expressed to
be payable herein (the “specified currency”) into another currency, the parties hereto
agree, to the fullest extent that they may effectively do so, that the rate of exchange used shall
be that at which in accordance with normal banking procedures the Administrative Agent could
purchase the specified currency with such other currency at the Administrative Agent’s main New
York City office on the Business Day preceding that on which final, non-appealable judgment is
given. The obligations of each Borrower in respect of any sum due to any Lender, the Issuing Bank
or the Administrative Agent hereunder shall, notwithstanding any judgment in a currency other than
the specified currency and to the fullest extent permitted by law, be discharged only to the extent
that on the Business Day following receipt by such Lender, Issuing Bank or the Administrative Agent
(as the case may be) of any sum adjudged to be so due in such other currency such Lender or the
Administrative Agent (as the case may be) may in accordance with normal, reasonable banking
procedures purchase the specified currency with such other currency. If the amount of the
specified currency so purchased is less than the sum originally due to such Lender, Issuing Bank or
the Administrative Agent, as the case may be, in the specified currency, each Borrower agrees, to
the fullest extent that it may effectively do so, as a separate obligation and notwithstanding any
such judgment, to indemnify such Lender, Issuing Bank or the Administrative Agent, as the case may
be, against such loss, and if the amount of the specified currency so purchased exceeds (a) the sum
originally due to any Lender or the Administrative Agent, as the case may be, in the specified
currency and (b) any amounts shared with other Lenders as a result of allocations of such excess as
a disproportionate payment to a Lender under Section 2.18, such Lender or the Administrative Agent,
as the case may be, agrees to remit such excess to such Borrower.

          SECTION 2.23. Liability of Foreign Subsidiary Borrower. The parties intend that this
Agreement shall in all circumstances be interpreted to provide that the Foreign Subsidiary Borrower
is liable only for Loans made to the Foreign Subsidiary Borrower, interest on such Loans, the
Foreign Subsidiary Borrower’s reimbursement obligations with respect to any Letter of Credit issued
for its account and its ratable share of any of the other Obligations, including, without
limitation, general fees, reimbursements and charges hereunder and under any other Loan Document
that are attributable to it. The liability of the Foreign Subsidiary Borrower for the payment of
any of the Obligations or the performance of its covenants, representations and warranties set
forth in this Agreement and the other Loan Documents shall be several from but not joint with the
Obligations of the Company or any Domestic Subsidiary (including, for this purpose, any Foreign
Subsidiary that is a disregarded entity of a U.S. Person for U.S. federal income tax purposes).
Nothing in this Section 2.23 is intended to limit, nor shall it be deemed to limit, any of the
liability of the Company for any or all of the Obligations, whether in its primary capacity as a
Borrower, pursuant to its joint and several liability for the obligations of L/C

46

 

Account Parties under Section 2.06, pursuant to its guaranty obligations set forth in Article
IX, at law or otherwise.

          SECTION 2.24. Defaulting Lenders. Notwithstanding any provision of this Agreement to
the contrary, if any Lender becomes a Defaulting Lender, then the following provisions shall apply
for so long as such Lender is a Defaulting Lender:

          (a) fees shall cease to accrue on the Commitment of such Defaulting Lender pursuant to Section
2.12(a);

          (b) the Commitment and Revolving Credit Exposure of such Defaulting Lender shall not be
included in determining whether the Required Lenders have taken or may take any action hereunder
(including any consent to any amendment, waiver or other modification pursuant to Section 8.02);
provided, that this clause (b) shall not apply to the vote of a Defaulting Lender in the case of an
amendment, waiver or other modification requiring the consent of “such Lender” or each Lender
affected thereby pursuant to Section 8.02(b)(i), (ii) or (iii).

          (c) if any Swingline Exposure or LC Exposure exists at the time such Lender becomes a
Defaulting Lender then:

     (i) all or any part of the Swingline Exposure and LC Exposure of such Defaulting Lender
shall be reallocated among the non-Defaulting Lenders in accordance with their respective
Applicable Percentages but only to the extent the sum of all non-Defaulting Lenders’
Revolving Credit Exposures plus such Defaulting Lender’s Swingline Exposure and LC Exposure
does not exceed the total of all non-Defaulting Lenders’ Commitments;

     (ii) if the reallocation described in clause (i) above cannot, or can only partially,
be effected, within three (3) Business Days following notice by the Administrative Agent (x)
first, the applicable Borrower shall prepay such Swingline Exposure and (y) second, the
Company shall cash collateralize for the benefit of the Issuing Bank only the Company’s
obligations corresponding to such Defaulting Lender’s LC Exposure (after giving effect to
any partial reallocation pursuant to clause (i) above) in accordance with the procedures set
forth in Section 2.06(j) for so long as such LC Exposure is outstanding ;

     (iii) if the Company cash collateralizes any portion of such Defaulting Lender’s LC
Exposure pursuant to clause (ii) above, the Company shall not be required to pay any fees to
such Defaulting Lender pursuant to Section 2.12(b) with respect to such Defaulting Lender’s
LC Exposure during the period such Defaulting Lender’s LC Exposure is cash collateralized;

     (iv) if the LC Exposure of the non-Defaulting Lenders is reallocated pursuant to clause
(i) above, then the fees payable to the Lenders pursuant to Section 2.12(b) shall be
adjusted in accordance with such non-Defaulting Lenders’ Applicable Percentages; and

     (v) if all or any portion of such Defaulting Lender’s LC Exposure is neither
reallocated nor cash collateralized pursuant to clause (i) or (ii) above, then, without
prejudice to any rights or remedies of the Issuing Bank or any other Lender hereunder, all
facility fees that otherwise would have been payable to such Defaulting Lender (solely with
respect to the portion of such Defaulting Lender’s Commitment that was utilized by such LC
Exposure) and letter of credit fees payable under Section 2.12(b) with respect to such
Defaulting Lender’s LC Exposure shall be payable to the Issuing Bank until and to the extent
that such LC Exposure is reallocated and/or cash collateralized; and

47

 

          (d) so long as such Lender is a Defaulting Lender, the Swingline Lender shall not be required
to fund any Swingline Loan and the Issuing Bank shall not be required to issue, amend or increase
any Letter of Credit, unless it is satisfied that the related exposure and the Defaulting Lender’s
then outstanding LC Exposure will be 100% covered by the Commitments of the non-Defaulting Lenders
and/or cash collateral will be provided by the applicable Borrower in accordance with Section
2.24(c), and participating interests in any newly made Swingline Loan or any newly issued or
increased Letter of Credit shall be allocated among non-Defaulting Lenders in a manner consistent
with Section 2.24(c)(i) (and such Defaulting Lender shall not participate therein).

          If (i) a Bankruptcy Event with respect to a Parent of any Lender shall occur following the
date hereof and for so long as such event shall continue or (ii) the Swingline Lender or the
Issuing Bank has a good faith belief that any Lender has defaulted in fulfilling its obligations
under one or more other agreements in which such Lender commits to extend credit, the Swingline
Lender shall not be required to fund any Swingline Loan and the Issuing Bank shall not be required
to issue, amend or increase any Letter of Credit, unless the Swingline Lender or the Issuing Bank,
as the case may be, shall have entered into arrangements with the Borrowers or such Lender,
satisfactory to the Swingline Lender or the Issuing Bank, as the case may be, to defease any risk
to it in respect of such Lender hereunder.

          In the event that the Administrative Agent, the Company, the Swingline Lender and the Issuing
Bank each agrees that a Defaulting Lender has adequately remedied all matters that caused such
Lender to be a Defaulting Lender, then the Swingline Exposure and LC Exposure of the Lenders shall
be readjusted to reflect the inclusion of such Lender’s Commitment and on such date such Lender
shall purchase at par such of the Loans of the other Lenders (other than Swingline Loans) as the
Administrative Agent shall determine may be necessary in order for such Lender to hold such Loans
in accordance with its Applicable Percentage.

ARTICLE III

Representations and Warranties

     The Company (and to the extent applicable thereto, the Foreign Subsidiary Borrower) represents
and warrants to the Lenders that:

          SECTION 3.01. Corporate Existence and Power. The Company, its Domestic Subsidiaries
and the Foreign Subsidiary Borrower are duly organized, validly existing and in good standing under
the laws of their respective jurisdiction of formation, and have all requisite powers and all
material governmental licenses, authorizations, consents and approvals required to carry on their
businesses, considered as a whole, substantially as now conducted. The “centre of main interests”
(as that term is used in the Council Regulation (EC) n°1346/2000 of May 29, 2000 on insolvency
proceedings) of the Foreign Borrower is in Luxembourg, and the Foreign Borrower has no
“establishment” (as that term is used in the Council Regulation (EC) n°1346/2000 of May 29, 2000 on
insolvency proceedings) outside Luxembourg.

          SECTION 3.02. Corporate and Governmental Authorization; No Contravention; Filing; No
Immunity.

     (a) The execution, delivery and performance by the Company and the Foreign Subsidiary
Borrower of each Loan Document to which it is a party, are within the Company’s and the
Foreign Subsidiary Borrower’s respective corporate or other like powers, have been duly
authorized by all necessary corporate or other like action, require no action by or in
respect of, or

48

 

filing with, any Governmental Authority (except filings under the Securities Exchange
Act of 1934) and do not contravene, or constitute a default under, any provision of
applicable law or regulation or of the certificate of incorporation or by-laws or other
constitutive documents of the Company or the Foreign Subsidiary Borrower or of (i) any
material agreement, indenture or instrument binding upon the Company or the Foreign
Subsidiary Borrower (which, for the avoidance of doubt, shall be deemed to include any
agreement, indenture or instrument evidencing Material Obligations), or (ii) any material
judgment, injunction, order, decree or other instrument binding upon the Company or the
Foreign Subsidiary Borrower, or result in the creation or imposition of any Lien on any
asset of the Company or any of its Subsidiaries.

     (b) To ensure the enforceability or admissibility in evidence of any Loan Document, it
is not necessary that such Loan Document be filed or recorded with any court or other
authority in Luxembourg or that any stamp or similar tax be paid to or in respect of such
Loan Document, except that the registration of a Loan Document may be ordered and a
registration fee might become payable if and when such Loan Document is adduced as evidence
in a Luxembourg Court or another Luxembourg public authority (“autorité
constituée”). The qualification by any Lender or the Administrative Agent for admission
to do business under the laws of Luxembourg does not constitute a condition to, and the
failure to so qualify does not affect, the exercise by any Lender or the Administrative
Agent of any right, privilege, or remedy afforded to any Lender or the Administrative Agent
in connection with any Loan Document or the enforcement of any such right, privilege, or
remedy against the Foreign Subsidiary Borrower. The performance by any Lender or the
Administrative Agent of any action required or permitted under any Loan Document will not
(i) violate any law or regulation of Luxembourg or any political subdivision thereof, (ii)
result in any tax or other monetary liability to such party pursuant to the laws of
Luxembourg or political subdivision or taxing authority thereof (other than taxes on the
overall net income of such Lender or its applicable lending office or franchise or similar
taxes imposed by Luxembourg to the extent such Lender or its applicable lending office shall
be situated in Luxembourg), or (iii) violate any rule or regulation of any federation or
organization or similar entity of which Luxembourg is a member, except such violations or
liabilities, or increases thereof which individually or in the aggregate could not
reasonably be expected to have a Material Adverse Effect.

     (c) Neither the Foreign Subsidiary Borrower nor any of its assets is entitled to
immunity from suit, execution, attachment or other legal process. The Foreign Subsidiary
Borrower’s execution and delivery of the Loan Documents to which it is a party constitute,
and the exercise of its rights and performance of and compliance with its obligations under
such Loan Document will constitute, private and commercial acts done and performed for
private and commercial purposes.

          SECTION 3.03. Binding Effect. The Loan Documents to which each Borrower is a party
have been duly executed and delivered by such party and constitute legal, valid and binding
obligations of such party, enforceable against such party in accordance with their respective
terms, except as the same may be limited by bankruptcy, insolvency or similar laws affecting
creditors’ rights generally and by general principles of equity.

          SECTION 3.04. Financial Information.

     (a) The consolidated balance sheet of the Company and its Consolidated Subsidiaries as
of December 31, 2009 and the related consolidated statements of income and cash flows for
the Fiscal Year then ended, reported on by PricewaterhouseCoopers LLP and set forth in the

49

 

Company’s 2009 Form 10-K, a copy of which has been delivered to each of the Lenders,
fairly present, in conformity with GAAP, the consolidated financial position of the Company
and its Consolidated Subsidiaries as of such date and the consolidated results of their
operations and their cash flows for such Fiscal Year.

     (b) The unaudited condensed consolidated balance sheet of the Company and its
Consolidated Subsidiaries as of March 31, 2010 and the related unaudited condensed
statements of consolidated income and consolidated cash flows for the three months then
ended, set forth in the Company’s quarterly report for the fiscal quarter ended March 31,
2010 as filed with the SEC on Form 10-Q, a copy of which has been delivered to each of the
Lenders, fairly present, on a basis consistent with the financial statements referred to in
subsection (a) of this Section, the consolidated financial position of the Company and its
Consolidated Subsidiaries as of such date and their consolidated results of operations and
cash flows for such three-month period (subject to normal year-end adjustments).

     (c) No Material Adverse Change has occurred or is continuing.

          SECTION 3.05. Litigation. There is no action, suit or proceeding pending against, or
to the knowledge of the Company threatened against or affecting, the Company or any of its
Subsidiaries before any court or arbitrator or any Governmental Authority which, in the reasonable
opinion of the Company, has resulted in or is likely to result in a Material Adverse Change or
which in any manner draws into question the validity of any Loan Document.

          SECTION 3.06. Compliance with ERISA. Each member of the ERISA Group (i) has satisfied
the minimum funding standards of Section 302(a) of ERISA and Section 412(a) of the Code with
respect to each Plan and (ii) is in compliance in all material respects with the presently
applicable provisions of ERISA and the Code with respect to each Plan. Each Benefit Arrangement
and each Plan which is intended to be qualified under Section 401(a) of the Code as currently in
effect has been determined to be so qualified, and no event has taken place which could reasonably
be expected to cause the loss of such qualified status. No member of the ERISA Group has (x)
sought a waiver of the minimum funding standard under Section 412(c) of the Code in respect of any
Plan, (y) failed to make any contribution or payment to any Plan or Multiemployer Plan or in
respect of any Benefit Arrangement, or made any amendment to any Plan or Benefit Arrangement, which
has resulted or could result in the imposition of a Lien or the posting of a bond or other security
under ERISA or the Code, in each case securing an amount greater than $10,000,000 or (z) incurred
any liability under Title IV of ERISA other than a liability to the PBGC for premiums under Section
4007 of ERISA which could materially adversely affect the business, consolidated financial position
or consolidated results of operations of the Company and its Consolidated Subsidiaries, considered
as a whole.

          SECTION 3.07. Environmental Matters. In the ordinary course of its business, the
Company conducts appropriate reviews of the effect of Environmental Laws on the business,
operations and properties of the Company and its Subsidiaries, in the course of which it identifies
and evaluates pertinent liabilities and costs (including, without limitation, capital or operating
expenditures required for clean-up or closure of properties presently or previously owned or for
the lawful operation of its current facilities, required constraints or changes in operating
activities, and evaluation of liabilities to third parties, including employees, together with
pertinent costs and expenses). On the basis of this review, the Company has reasonably concluded
that Environmental Laws are not likely to have a Material Adverse Effect.

50

 

          SECTION 3.08. Taxes. United States Federal income tax returns of the Company and its
Subsidiaries have been examined and closed through the Fiscal Year ended December 31, 2008. The
Company and its Subsidiaries have filed all United States Federal income tax returns and all other
material tax returns which are required to be filed by them and have paid all taxes shown as due
pursuant to such returns or pursuant to any assessment received by the Company or any Subsidiary,
except such taxes, if any, as are being contested in good faith and as to which, in the opinion of
the Company, adequate reserves have been provided in accordance with GAAP.

          SECTION 3.09. Not an Investment Company. The Company is not an “investment company”
or a company “controlled” by an “investment company” within the meaning of the Investment Company
Act of 1940, as amended.

          SECTION 3.10. Compliance with Laws. The Company complies, and has caused each
Subsidiary to comply, in all material respects with all applicable laws, ordinances, rules,
regulations, and requirements of Governmental Authorities (including, without limitation,
Luxembourg Domiciliary Law, Environmental Laws and ERISA and the rules and regulations thereunder),
except where (i) the necessity of compliance therewith is contested in good faith by appropriate
proceedings, (ii) no officer of the Company is aware that the Company or the relevant Subsidiary
has failed to comply therewith or (iii) the Company has reasonably concluded that failure to comply
is not likely to have a Material Adverse Effect.

          SECTION 3.11. Foreign Employee Benefit Matters. (a) Each Foreign Employee Benefit
Plan is in compliance with all laws, regulations and rules applicable thereto and the respective
requirements of the governing documents for such Plan; (b) there are no deficiencies in
contributions, payments or other funding required of the Company and its Subsidiaries by applicable
law or the governing plan documents with respect to any governmental or statutory Foreign Pension
Plan, and the present value of the aggregate accumulated benefit obligations under all other
Foreign Pension Plans does not exceed the current fair market value of the assets held in the
trusts for such Plans; (c) with respect to any Foreign Employee Benefit Plan maintained or
contributed to by any member of the ERISA Group (other than a Foreign Pension Plan), reasonable
reserves have been established in accordance with prudent business practice or where required by
ordinary accounting practices in the jurisdiction in which such Plan is maintained; and (d) there
are no actions, suits or claims pending or, to the knowledge of the Company and its Subsidiaries,
threatened against the Company or any Subsidiary of it or any member of the ERISA Group with
respect to any Foreign Employee Benefit Plan, except in each case where such failure to comply,
deficiencies, excess obligations, absence of reserves, or actions, suits or claims would not
individually or in the aggregate have a Material Adverse Effect.

          SECTION 3.12. Properties. (a) Each of the Company and its Subsidiaries has good
title to, or valid leasehold interests in, all its real and personal property material to its
business, except for defects in title that do not interfere with its ability to conduct its
business as currently conducted or to utilize such properties for their intended purposes.

          (b) Each of the Company and its Subsidiaries owns, or is licensed to use, all trademarks,
tradenames, copyrights, patents and other intellectual property material to its business, and the
use thereof by the Company and its Subsidiaries does not infringe upon the rights of any other
Person, except for any such infringements that, individually or in the aggregate, could not
reasonably be expected to result in a Material Adverse Effect.

          SECTION 3.13. Disclosure. Neither the Information Memorandum nor any of the other
reports, financial statements, certificates or other written information furnished by or on behalf
of the Company or any Subsidiary to the Administrative Agent or any Lender in connection with the
negotiation

51

 

of this Agreement or delivered hereunder (as modified or supplemented by other information so
furnished), taken as a whole, contains any material misstatement of fact or omits to state any
material fact necessary to make the statements therein, in the light of the circumstances under
which they were made, not misleading as of the date when furnished; provided that, with
respect to projected financial information, the Borrowers represent only that such information was
prepared in good faith based upon assumptions reasonably believed by the Company to be reasonable
at the time (it being recognized that actual results during the period or periods covered by any
such projections may differ from the projected results and the differences may be material).

          SECTION 3.14. Federal Reserve Regulations. No part of the proceeds of any Loan have
been used or will be used, whether directly or indirectly, for any purpose that entails a violation
of any of the Regulations of the Board, including Regulations T, U and X.

          SECTION 3.15. No Default. No Default or Event of Default has occurred and is
continuing.

ARTICLE IV

Conditions

          SECTION 4.01. Effective Date. The obligations of the Lenders to make Loans and of the
Issuing Bank to issue Letters of Credit hereunder shall not become effective until the date on
which each of the following conditions is satisfied (or waived in accordance with Section 8.02):

     (a) The Administrative Agent (or its counsel) shall have received from each party
hereto either (i) a counterpart of this Agreement signed on behalf of such party or (ii)
written evidence satisfactory to the Administrative Agent (which may include telecopy or
electronic transmission of a signed signature page of this Agreement) that such party has
signed a counterpart of this Agreement.

     (b) The Administrative Agent shall have received a favorable written opinion (addressed
to the Administrative Agent and the Lenders and dated the Effective Date) of (i) Gregory D.
Wittrock, General Counsel of the Company, and (ii) Davis Polk & Wardwell LLP, outside
counsel for the Borrowers, both of which shall be substantially in the forms attached as
Exhibit B-1, and covering such other matters relating to the Borrowers, the Loan
Documents or the Transactions as the Administrative Agent shall reasonably request. The
Borrowers hereby request such counsel to deliver such opinion.

     (c) The Administrative Agent shall have received a favorable written opinion (addressed
to the Administrative Agent and the Lenders and dated the Effective Date) of Linklaters LLP,
Luxembourg counsel for the Foreign Subsidiary Borrower, substantially in the form of
Exhibit B-2, and covering such other matters relating to the Foreign Subsidiary
Borrower, the Loan Documents or the Transactions as the Administrative Agent shall
reasonably request. The Foreign Subsidiary Borrower hereby requests such counsel to deliver
such opinion.

     (d) The Lenders shall have received (i) audited consolidated financial statements of
the Company for the two most recent fiscal years ended prior to the Effective Date as to
which such financial statements are available, (ii) unaudited interim consolidated financial
statements of the Company for each quarterly period ended subsequent to the date of the
latest financial statements delivered pursuant to clause (i) of this paragraph as to which
such financial statements are

52

 

publicly available and (iii) financial statement projections through and including the
Company’s 2013 fiscal year, together with such information relating to such projections as
the Administrative Agent and the Lenders shall reasonably request (including, without
limitation, a detailed description of the assumptions used in preparing such projections).

     (e) The Administrative Agent shall have received (i) such documents and certificates as
the Administrative Agent or its counsel may reasonably request relating to the organization,
existence and good standing of the Borrowers, the authorization of the Transactions and any
other legal matters relating to the Borrowers, the Loan Documents or the Transactions, all
in form and substance reasonably satisfactory to the Administrative Agent and its counsel
and as further described in the list of closing documents attached as Exhibit E and
(ii) to the extent requested by any of the Lenders, all documentation and other information
required by bank regulatory authorities under applicable “know-your-customer” and anti-money
laundering rules and regulations, including the USA PATRIOT Act.

     (f) The Administrative Agent shall have received a certificate, dated the Effective
Date and signed by the President, a Vice President or a Financial Officer of the Company,
confirming compliance with the conditions set forth in paragraphs (a) and (b) of Section
4.02.

     (g) The Administrative Agent shall have received evidence satisfactory to it that the
commitments under the Existing Credit Agreement shall have been terminated and cancelled and
all indebtedness and other outstanding payment obligations thereunder shall have been fully
repaid (except to the extent being so repaid with the initial Revolving Loans and except in
the case of the Existing Letters of Credit deemed to be reissued under Section 2.06 of this
Agreement; provided, however, that all fees owing in respect of such
Existing Letters of Credit under the Existing Credit Agreement shall be repaid in full).

     (h) The Administrative Agent shall have received evidence reasonably satisfactory to it
that all governmental and third party approvals necessary or, in the discretion of the
Administrative Agent, advisable in connection with the Transactions and the continuing
obligations hereunder of the Company and the Foreign Subsidiary Borrower have been obtained
and are in full force and effect.

     (i) The Administrative Agent shall have received all fees and other amounts due and
payable on or prior to the Effective Date, including, to the extent invoiced, reimbursement
or payment of all out-of-pocket expenses required to be reimbursed or paid by the Company
hereunder.

The Administrative Agent shall notify the Company and the Lenders of the Effective Date, and such
notice shall be conclusive and binding. In order to facilitate the termination of the commitments
under the Existing Credit Agreement, the Company hereby gives notice that the Company wishes to
terminate the commitments under the Existing Credit Agreement, effective as of the Effective Date.
Each Lender that is a “Lender” under and as defined in the Existing Credit Agreement, by its
execution hereof, waives any requirement of prior notice set forth therein as a condition to the
right of the Company to terminate the commitments thereunder.

          SECTION 4.02. Each Credit Event. The obligation of each Lender to make a Loan on the
occasion of any Borrowing, and of the Issuing Bank to issue, amend, renew or extend any Letter of
Credit, is subject to the satisfaction of the following conditions:

53

 

     (a) The representations and warranties of the Borrowers set forth in this Agreement
(except, in the case of a Commercial Paper Borrowing, the representations and warranties set
forth in Sections 3.04(c), 3.05, 3.06 (other than clause (i) thereof), 3.07, 3.10, 3.11 and
3.12(b)) shall be true and correct in all material respects on and as of the date of such
Borrowing or the date of issuance, amendment, renewal or extension of such Letter of Credit,
as applicable, except for any representation and warranty made as of a specific date, in
which case such representation and warranty shall have been true and correct in all material
respects as of such date.

     (b) At the time of and immediately after giving effect to such Borrowing or the
issuance, amendment, renewal or extension of such Letter of Credit, as applicable, no
Default shall have occurred and be continuing.

     (c) No law or regulation shall prohibit, and no order, judgment or decree of any
Governmental Authority shall enjoin, prohibit or restrain, any Lender from making the
requested Loan or the Issuing Bank or any Lender from issuing, renewing, extending or
increasing the face amount of or participating in the Letter of Credit requested to be
issued, renewed, extended or increased.

Each Borrowing and each issuance, amendment, renewal or extension of a Letter of Credit shall be
deemed to constitute a representation and warranty by the Borrowers on the date thereof as to the
matters specified in paragraphs (a) and (b) of this Section.

ARTICLE V

Covenants

          Until the Commitments have expired or terminated and the principal of and interest on each
Loan and all fees payable hereunder have been paid in full and all Letters of Credit have expired
or terminated and all LC Disbursements shall have been reimbursed, the Company covenants and agrees
with the Lenders that:

          SECTION 5.01. Information. The Company will furnish to the Administrative Agent for
distribution to each of the Lenders (including, if so desired, by means of electronic
communications in accordance with Section 8.01):

     (a) as soon as available and in any event within the earlier of (i) ninety-five (95)
days after the end of each Fiscal Year and (ii) the date on which the following items are
required to be delivered to the SEC, a consolidated balance sheet of the Company and its
Consolidated Subsidiaries as of the end of such Fiscal Year and the related consolidated
statements of income and cash flows for such Fiscal Year, setting forth in each case in
comparative form the corresponding figures for the previous Fiscal Year, all reported on by
PricewaterhouseCoopers LLP or other independent public accountants of nationally recognized
standing, whose report shall be without material qualification;

     (b) as soon as available and in any event within the earlier of (i) fifty (50) days
after the end of each of the first three quarters of each Fiscal Year and (ii) the date on
which the following items are required to be delivered to the SEC, a condensed consolidated
balance sheet of the Company and its Consolidated Subsidiaries as of the end of such
quarter, the related condensed consolidated statement of income for such quarter and the
related condensed consolidated statements of income and cash flows for the portion of such
Fiscal Year ended at the end of such

54

 

quarter, setting forth in each case in comparative form the corresponding figures for
the corresponding periods of the previous Fiscal Year, all in reasonable detail and
certified, to the best of his or her knowledge (subject to normal year-end adjustments), as
to fairness of presentation, and consistency with GAAP (except for changes concurred in by
the Company’s independent public accountants) by a Financial Officer of the Company;

     (c) simultaneously with the delivery of each set of financial statements referred to in
subsections (a) and (b) above, a certificate of a Financial Officer of the Company (i)
setting forth in reasonable detail the calculations required to establish whether the
Company was in compliance with the requirements of Sections 5.07 to 5.09, inclusive, and
5.11 on the date of such financial statements, (ii) stating, to the best of his or her
knowledge, whether any Default exists on the date of such certificate and (iii) if any
Default then exists, setting forth the details thereof and the action which the Company is
taking or proposes to take with respect thereto;

     (d) within ten (10) days after any officer of the Company becomes aware of the
existence of any Default, unless such Default shall have been cured before the end of such
ten (10) day period, a certificate of a Financial Officer of the Company setting forth the
details of such Default and the action which the Company is taking or proposes to take with
respect thereto;

     (e) promptly upon the filing thereof, copies of all reports on Forms 10-K, 10-Q and 8-K
and similar regular and periodic reports which the Company shall have filed with the SEC;

     (f) if and when any member of the ERISA Group (i) gives or is required to give notice
to the PBGC of any “reportable event” (as defined in Section 4043 of ERISA) with respect to
any Plan which might constitute grounds for a termination of such Plan under Title IV of
ERISA, or knows that the plan administrator of any Plan has given or is required to give
notice of any such reportable event, a copy of the notice of such reportable event given or
required to be given to the PBGC; (ii) receives notice of complete or partial withdrawal
liability under Title IV of ERISA or notice that any Multiemployer Plan is in
reorganization, is insolvent or has been terminated, a copy of such notice, (iii) receives
notice from the PBGC under Title IV of ERISA of an intent to terminate, impose liability
(other than for premiums under Section 4007 of ERISA) in respect of, or appoint a trustee to
administer any Plan, a copy of such notice; (iv) applies for a waiver of the minimum funding
standard under Section 412(c) of the Code, a copy of such application; (v) gives notice of
intent to terminate any Plan under Section 4041(c) of ERISA, a copy of such notice and other
information filed with the PBGC; (vi) gives notice of withdrawal from any Plan pursuant to
Section 4063 of ERISA, a copy of such notice; or (vii) fails to make any payment or
contribution to any Plan or Multiemployer Plan or in respect of any Benefit Arrangement or
makes any amendment to any Plan or Benefit Arrangement which has resulted or could result in
the imposition of a Lien or the posting of a bond or other security, a certificate of a
Financial Officer of the Company setting forth details as to such occurrence and action, if
any, which the Company or applicable member of the ERISA Group is required or proposes to
take; provided that no such certificate shall be required unless the aggregate
unpaid actual or potential liability of members of the ERISA Group involved in all events
referred to in clauses (i) through (vii) above of which officers of the Company have
obtained knowledge and have not previously reported under this subsection (f) exceeds
$25,000,000;

     (g) promptly and in any event not more than ten (10) days after any officer of the
Company becomes aware of the occurrence of any event which would cause the representations
and warranties set forth in Section 3.11 to be in breach as of such date, a certificate of a
Financial Officer of the Company setting forth details as to such occurrence and action, if
any, which the Company or applicable Subsidiary of the Company is required or proposes to
take;

55

 

     (h) immediately after any officer of the Company obtains knowledge of a change in the
rating of the Company’s Index Debt by Moody’s or S&P, a certificate of a Financial Officer
of the Company setting forth the details thereof; and

     (i) from time to time such additional information regarding the financial position or
business of the Company as the Administrative Agent, at the request of any Lender, or the
Issuing Bank may reasonably request.

          SECTION 5.02. Existence; Conduct of Business. Each Borrower will do or cause to be
done all things necessary to preserve, renew and keep in full force and effect its legal existence
(provided that the foregoing shall not prohibit any merger or consolidation permitted under
Section 5.10). Each Borrower will do or cause to be done all things necessary to preserve, renew
and keep in full force and effect the rights, qualifications, licenses, permits, privileges,
franchises, governmental authorizations and intellectual property rights material to the conduct of
its business, and maintain all requisite authority to conduct its business in each jurisdiction in
which its business is conducted, except where the Company has reasonably concluded that the failure
to comply is not likely to have a Material Adverse Effect.

          SECTION 5.03. Compliance with Laws. The Company will comply, and cause each
Subsidiary to comply, in all material respects with all applicable laws, ordinances, rules,
regulations, and requirements of Governmental Authorities (including, without limitation,
Luxembourg Domiciliary Law, Environmental Laws and ERISA and the rules and regulations thereunder)
except where (i) the necessity of compliance therewith is contested in good faith by appropriate
proceedings, (ii) no officer of the Company is aware that the Company or any Subsidiary has failed
to comply therewith or (iii) the Company has reasonably concluded that failure to comply is not
likely to have a Material Adverse Effect.

          SECTION 5.04. Use of Proceeds. The Borrowers shall use the proceeds of the Loans to
provide funds for general corporate purposes, including, but not limited to, commercial paper
liquidity, acquisitions, refinancing of the Existing Credit Agreement and working capital purposes.
None of the proceeds of the Loans made under this Agreement will be used in violation of any
applicable law or regulation (including, without limitation, Regulation T, U or X of the Board).
Margin stock (as defined under Regulation U) does not and will not constitute more than 25% of the
value of the consolidated assets of the Company and its Subsidiaries.

          SECTION 5.05. Maintenance of Properties; Insurance. (a) The Company will, and will
cause each of its Subsidiaries to, keep and maintain all property material to the conduct of its
business in good working order and condition, ordinary wear and tear excepted, except where the
Company has reasonably concluded that failure to comply is not likely to have a Material Adverse
Effect.

          (b) The Company and its Consolidated Subsidiaries considered as a whole will maintain with
financially sound and reputable insurance companies insurance in such amounts and covering such
risks as is consistent with sound business practice, and the Company will furnish to the
Administrative Agent upon request full information as to the insurance carried; provided,
that the Company and its Subsidiaries may self-insure to the extent the Company reasonably
determines that such self insurance is consistent with prudent business practice.

          SECTION 5.06. Books and Records; Inspection. The Company will, and will cause each of
its Subsidiaries to, keep proper books of record and account in which full, true and correct
entries, in all material respects, are made of all material dealings and transactions in relation
to its business and activities. The Company will, and will cause each Subsidiary to, permit the
Administrative Agent, on

56

 

behalf of itself or any requesting Lender, by its representatives and agents, to inspect any
of the property, books and financial records of the Company and each Subsidiary, to examine and
make copies of the books of accounts and other financial records of the Company and each
Subsidiary, and to discuss the affairs, finances and accounts of the Company and each Subsidiary
with, and to be advised as to the same by, their respective officers at such times and intervals,
having due regard for the ongoing business of the Company and its Subsidiaries, as the
Administrative Agent, on behalf of itself or any requesting Lender, may reasonably request.

          SECTION 5.07. Financial Covenants.

     (a) Minimum Interest Coverage Ratio. The Company will not permit the ratio,
determined as of the end of each of its fiscal quarters, of (i) Consolidated EBITDA to (ii)
Consolidated Interest Expense, in each case for the period of four (4) consecutive fiscal
quarters ending with the end of such fiscal quarter, all calculated for the Company and its
Consolidated Subsidiaries to be less than (i) 2.25 to 1.00 with respect to each fiscal
quarter ending on or after June 30, 2010 through and including the fiscal quarter ending on
September 30, 2011 and (ii) 2.50 to 1.00 with respect to each fiscal quarter thereafter.

     (b) Maximum Debt to Capitalization. At no time will the ratio of (i)
Consolidated Debt to (ii) the sum of (x) Consolidated Debt and (y) Consolidated Adjusted Net
Worth exceed 65%; provided, however, that for the purposes of the
limitations provided in, and computations under, this Section 5.07(b), “Debt” shall not
include (a) with respect to the Company, any Refunding Debt of the Company to the extent
that and for so long as such Debt constitutes Refunding Debt, and (b) with respect to any
Subsidiary, any Debt of such Subsidiary (including any Refunding Debt) to the extent that
and for so long as such Debt is exempt from the incurrence test in Section 5.08(a) as a
result of the application of Section 5.08(b); provided, further, that when
determining Consolidated Adjusted Net Worth for purposes of clause (ii) above, the Company
shall be entitled to add back (x) up to $186,000,000 in the aggregate of Specified Add-Backs
attributable to the period from January 1, 2009 through and including March 31, 2010 plus
(y) without duplication of the amounts included in the preceding clause (x), up to
$500,000,000 in the aggregate of Specified Add-Backs from and after April 1, 2010. For
purposes of this Section 5.07(b), “Specified Add-Backs” shall mean and include the
following: (i) non-cash charges constituting impairment of goodwill and other intangible
assets; (ii) non-cash charges constituting impairment of financial investments of the type
set forth in Note E of the Company’s 2008 Form 10-K; (iii) non-cash charges related to
discontinued operations; and (iv) any non-cash net reduction to accumulated other
comprehensive income (other than reductions related to pensions, post-retirement benefits
and similar retirement adjustments) from the amount reflected on the December 31, 2008
balance sheet of the Company.

The foregoing covenants will be tested on a consolidated basis as of the end of each Fiscal Quarter.

          SECTION
5.08. Limitations on Subsidiary Debt.

     (a) The Company will not at any time permit any Consolidated Subsidiary to create,
incur, issue, guarantee, assume or suffer to exist any Debt if, immediately after giving
effect thereto, the aggregate outstanding amount of Debt (determined at that time) of all
Consolidated Subsidiaries (other than Debt owed to the Company or one or more other
Consolidated Subsidiaries) would exceed the sum of (i) 20% of Consolidated Net Worth
(calculated as of the last day of the most recently ended Fiscal Quarter) plus (ii)
the Debt Credit applicable to the Consolidated Subsidiaries.

57

 

     (b) Subsection (a) above shall not prevent (i) a Consolidated Subsidiary from creating,
incurring, issuing, guaranteeing or assuming Debt for the purpose of extending, renewing or
Refunding an equal or greater principal amount of Debt then outstanding of such Consolidated
Subsidiary; provided, that subsection (a) shall apply to the extent that the
aggregate principal amount of any such extending, renewing or Refunding Debt exceeds the
aggregate principal amount of the Debt being extended, renewed or refunded, or (ii) the
creation, incurrence, issuance, guarantee or assumption of Debt owed to or owned by the
Company or a Consolidated Subsidiary. For purposes of this subsection (b), Debt (whether
constituting Debt of the Company or of any Subsidiary) is deemed to be for the purpose of
“Refunding” other Debt if and to the extent that (i) no later than five (5) Business
Days after the refunding Debt is incurred, the Company delivers to the Administrative Agent
written notice stating that the purpose of such Debt is to refund outstanding Debt and
specifying the Debt to be refunded, (ii) the proceeds of such refunding Debt are held in the
form of cash or Permitted Investments (free of any Lien except a Lien securing the specified
Debt to be refunded) until such specified Debt is repaid and (iii) such specified Debt to be
refunded is repaid within forty-five (45) days after the refunding Debt is incurred; it
being understood and agreed that (x) upon repayment of the specified Debt with proceeds of
the refunding Debt, the refunding Debt shall constitute Consolidated Debt for the purposes
of Section 5.07(b), and (y) to the extent that the specified Debt is not so repaid within
forty-five (45) days after the refunding Debt is originally incurred, the refunding Debt
shall constitute Consolidated Debt for purposes of Section 5.07(b) and shall be deemed to be
incurred as Debt for the purposes of Section 5.08(a) on the forty-sixth (46th)
day after such original incurrence.

          SECTION 5.09. Negative Pledge. Neither the Company nor any Consolidated Subsidiary
will create, assume or suffer to exist any Lien on any asset now owned or hereafter acquired by it,
except:

     (a) Liens existing on March 31, 2010 and continuing to exist on the Effective Date
securing Debt outstanding on March 31, 2010 and continuing to exist on the Effective Date in
an aggregate principal amount not exceeding $50,000,000;

     (b) any Lien existing on any asset of any entity at the time such entity becomes a
Consolidated Subsidiary and not created in contemplation of such event; provided
that the obligations secured by such Lien are not increased and are not secured by any
additional assets;

     (c) any Lien on any asset securing Debt incurred or assumed solely for the purpose of
financing all or any part of the cost of acquiring such asset (or acquiring a corporation or
other entity which owned such asset); provided that such Lien attaches to such asset
concurrently with or within ninety (90) days after such acquisition;

     (d) any Lien on any asset of any entity existing at the time such entity is merged or
consolidated with or into the Company or a Consolidated Subsidiary and not created in
contemplation of such event; provided that the obligations secured by such Lien are
not increased and are not secured by any additional assets;

     (e) any Lien existing on any asset prior to the acquisition thereof by the Company or a
Consolidated Subsidiary and not created in contemplation of such acquisition;
provided that the obligations secured by such Lien are not increased and are not
secured by any additional assets;

58

 

     (f) any Lien arising out of the refinancing, extension, renewal or refunding of any
Debt secured by any Lien permitted by any of the foregoing subsections of this Section;
provided that such Debt is not increased and is not secured by any additional
assets;

     (g) any Lien in favor of the holder of indebtedness (or any Person or entity acting for
or on behalf of such holder) arising pursuant to any order of attachment, distraint or
similar legal process arising in connection with court proceedings so long as the execution
or other enforcement thereof is effectively stayed and the claims secured thereby are being
contested in good faith by appropriate proceedings and no Default under Section 6.01(k)
shall have occurred and is continuing in connection therewith;

     (h) Liens incidental to the normal conduct of its business or the ownership of its
assets which (i) do not secure Debt, (ii) do not secure any obligation in an amount
exceeding $100,000,000 and (iii) do not in the aggregate materially detract from the value
of the assets of the Company and its Consolidated Subsidiaries taken as a whole or in the
aggregate materially impair the use thereof in the operation of the business of the Company
and its Consolidated Subsidiaries taken as a whole;

     (i) Liens incurred pursuant to Section 2.06(j) or 2.24(c)(ii); and

     (j) Liens securing Debt which are not otherwise permitted by the foregoing subsections
of this Section; provided that the aggregate outstanding principal amount of Debt
secured by all such Liens shall not at any time exceed 10% of Consolidated Net Worth
(calculated as of the last day of the most recently ended Fiscal Quarter).

          SECTION 5.10. Consolidations, Mergers and Sale of Assets.

     (a) Neither the Company nor the Foreign Subsidiary Borrower will directly or indirectly
sell, lease, transfer or otherwise dispose of all or substantially all of its assets, or
merge or consolidate with any other Person, or acquire any other Person through purchase of
assets or capital stock, unless either (i) the Company or the Foreign Subsidiary Borrower,
as applicable, shall be the continuing or surviving corporation or (ii) the successor or
acquiring corporation (if other than the Company or the Foreign Subsidiary Borrower, as
applicable) shall be a corporation organized under the laws of (x) one of the States of the
United States of America in the case of a merger or consolidation of the Company, or (y) the
Grand Duchy of Luxembourg in the case of a merger or consolidation of the Foreign Subsidiary
Borrower, and shall assume, by a writing reasonably satisfactory in form and substance to
the Required Lenders, all of the obligations of the Company or the Foreign Subsidiary
Borrower, as applicable, under this Agreement, including all covenants herein and therein
contained, in which case such successor or acquiring corporation shall succeed to and be
substituted for the Company or the Foreign Subsidiary Borrower, as applicable, with the same
effect as if it had been named herein as a party hereto.

     (b) No disposition of assets, merger, consolidation or acquisition referred to in
subsection (a) of this Section shall be permitted if, immediately after giving effect
thereto, any Default would exist under any of the terms or provisions of this Agreement.

          SECTION 5.11. Investments. The Company will not, and will not permit any of its
Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that
was not a wholly-owned Subsidiary prior to such merger) any capital stock, evidences of
indebtedness or other securities (including any option, warrant or other right to acquire any of
the foregoing) of, make or permit to exist any loans or advances to, Guarantee any Debt of, or make
or permit to exist any investment or any

59

 

other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a
series of transactions) any assets of any other Person constituting a business unit (each of the
foregoing actions being referred to collectively as “Investments”), except:

     (a) Permitted Investments;

     (b) Investments by the Company existing on the date hereof;

     (c) loans or advances made by the Company in or to any Subsidiary and made by any
Subsidiary to the Company or any Subsidiary;

     (d) Guarantees constituting Debt permitted by Section 5.08;

     (e) Investments (if any) consisting of Swap Agreements entered into for bona fide
hedging purposes;

     (f) Investments received (x) in settlement of amounts due to any of the Company and its
Subsidiaries effected in the ordinary course of business or (y) in connection with the
bankruptcy or the reorganization of any customers or suppliers;

     (g) loans and advances to customers and suppliers of the Company and its Subsidiaries
made in the ordinary course of business; provided, that the aggregate principal
amount of all such loans and advances described in this clause (g) shall not exceed
$25,000,000 at any time outstanding;

     (h) any other Investment in any joint venture or any other Person that is not a
Subsidiary in which the Company or any Subsidiary has an ownership interest in excess of 10%
(herein, a “Minority Investment”), so long as the aggregate amount of all such
Investments does not exceed 10% of Consolidated Net Worth during the term of this Agreement;

     (i) any other Investment (including acquisitions, but excluding any Minority
Investment), so long as no Event of Default has occurred and is continuing at the time
thereof or would result therefrom; or

     (j) other Investments in an aggregate amount outstanding at any one time not to exceed
$20,000,000 for all Investments pursuant to this clause (j).

ARTICLE VI

Events of Default

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

     (a) any Borrower shall fail to pay (i) when due any principal of any Loan or any
reimbursement obligation in respect of any LC Disbursement or (ii) within five (5) days of
the due date thereof, any interest, fees or other amounts payable under this Agreement;

60

 

     (b) the Company or, if applicable, the Foreign Subsidiary Borrower shall fail to
observe or perform any covenant contained in the first sentence of Section 5.02, Section
5.04 or Sections 5.07 to 5.11, inclusive;

     (c) the Company shall fail to observe or perform its guaranty of the Guaranteed
Obligations pursuant to Article IX hereof;

     (d) the Company or the Foreign Subsidiary Borrower shall fail to observe or perform
(i) any covenant in Section 5.01(d) for five (5) days after written notice thereof has been
given to the Company by the Administrative Agent at the request of any Lender or (ii) any
covenant or agreement contained in this Agreement or any other Loan Document (other than
those covered by subsection (a) or (b) above or clause (i) of this subsection (d)) for
thirty (30) days after written notice thereof has been given to the Company by the
Administrative Agent at the request of any Lender;

     (e) any representation, warranty, certification or statement made by the Company or
the Foreign Subsidiary Borrower in this Agreement or any amendment hereof or in any other
Loan Document shall prove to have been incorrect in any material respect when made or deemed
to have been made; provided that, if any representation and warranty deemed to have
been made by the Company or the Foreign Subsidiary Borrower pursuant to the last sentence of
Section 4.01 as to the satisfaction of the condition of borrowing set forth in Section
4.01(b) shall have been incorrect solely by reason of the existence of a Default of which
the Company was not aware when such representation and warranty was deemed to have been made
and which was cured before or promptly after the Company became aware thereof, then such
representation and warranty shall be deemed not to have been incorrect in any material
respect;

     (f) the Company or any of its Consolidated Subsidiaries shall fail to make one or more
payments in respect of any Material Obligations (other than Acquired Debt in an aggregate
outstanding principal amount not exceeding $75,000,000) when due or within any applicable
grace period, and such failure has not been waived;

     (g) any event or condition occurs, or the Company or any Consolidated Subsidiary shall
fail to observe or perform any term, covenant or agreement contained in any instrument or
agreement (other than this Agreement) by which it is bound relating to Debt, obligations
under Swap Agreements and/or Off-Balance Sheet Liabilities (other than Acquired Debt in an
aggregate outstanding principal amount not exceeding $75,000,000), and the effect of all
such failures, events and conditions is to cause the maturity of any Material Obligations to
be accelerated or to permit (any applicable period of grace having expired and any required
notice having been given) the holder or holders of any Material Obligations (or any Person
acting on their behalf) to accelerate the maturity thereof, or to require the prepayment,
repurchase, redemption or defeasance thereof, prior to its scheduled maturity;
provided that this clause (g) shall not apply to Debt that becomes due as a result
of the voluntary sale or transfer of the property or assets;

     (h) (i) the Company or any Significant Subsidiary shall commence a voluntary case or
other proceeding seeking liquidation, reorganization or other relief with respect to itself
or its debts under any bankruptcy, insolvency or other similar law now or hereafter in
effect or seeking the appointment of a trustee, receiver, liquidator, custodian or other
similar official of it or any substantial part of its property under any such law, or shall
consent to any such relief or to the appointment of or taking possession by any such
official in an involuntary case or other proceeding commenced against it under any such law,
or shall make a general assignment for the benefit of creditors, or shall fail generally to
pay its debts as they become due, or a resolution

61

 

shall be adopted by either the shareholders or the board of directors of such
corporation to authorize any of the foregoing; or (ii) any Foreign Borrower Insolvency Event
shall have occurred;

     (i) an involuntary case or other proceeding shall be commenced against the Company or
any Significant Subsidiary in any United States Federal court or other court of competent
jurisdiction seeking liquidation, reorganization or other relief with respect to it or its
debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or
seeking the appointment of a trustee, receiver, liquidator, custodian or other similar
official of it or any substantial part of its property under any such law, and in each case
such involuntary case or other proceeding shall remain undismissed and unstayed for a period
of sixty (60) days; or an order for relief shall be entered against the Company or any
Significant Subsidiary as debtors under the federal bankruptcy laws as now or hereafter in
effect;

     (j) any member of the ERISA Group shall fail to pay when due an amount or amounts
aggregating in excess of $1,000,000 which it shall have become liable to pay to the PBGC or
to a Plan under Title IV of ERISA; or notice of intent to terminate a Plan or Plans having
aggregate Unfunded Liabilities in excess of $75,000,000 (collectively, a “Material
Plan”) shall be filed under Title IV of ERISA by any member of the ERISA Group, any plan
administrator or any combination of the foregoing; or the PBGC shall institute proceedings
under Title IV of ERISA to terminate, to impose liability (other than for premiums under
Section 4007 of ERISA) in respect of, or to cause a trustee to be appointed to administer
any Material Plan; or a condition shall exist by reason of which the PBGC would be entitled
to obtain a decree adjudicating that any Material Plan must be terminated; or there shall
occur a complete or partial withdrawal from, or a default, within the meaning of Section
4219(c)(5) of ERISA, with respect to, one or more Multiemployer Plans which could cause one
or more members of the ERISA Group to incur a current payment obligation in excess of
$75,000,000 or; the institution by the PBGC or any similar foreign Governmental Authority of
proceedings to terminate a Foreign Pension Plan which could reasonably be expected to
subject the Company and its Subsidiaries, taken as a whole, to liability in excess of
$75,000,000 (a “Material Foreign Pension Plan”); or a foreign Governmental Authority
shall appoint or institute proceedings to appoint a trustee to administer any Material
Foreign Pension Plan in place of the existing administrator; provided that no Event
of Default shall exist under this subsection (j) with respect to any Prior Plan unless it is
reasonably likely that one or more members of the ERISA Group is liable with respect to the
relevant Unfunded Liabilities or current payment obligation, as the case may be;

     (k) a judgment or order for the payment of money in excess of $50,000,000 shall be
rendered against the Company or any Subsidiary and such judgment or order shall continue
unsatisfied and unstayed for a period of forty-five (45) days;

     (l) any person or group of persons (within the meaning of Section 13 or 14 of the
Securities Exchange Act of 1934, as amended) shall have acquired beneficial ownership
(within the meaning of Rule 13d-3 promulgated by the SEC under said Act) of 30% or more of
the outstanding shares of common stock of the Company; or Continuing Directors shall cease
to constitute a majority of the board of directors of the Company; or the Company shall
cease to be (directly or through its wholly-owned Subsidiaries) the “beneficial owner” (as
defined in Rules 13d-3 and 13d-5 promulgated by the SEC under the Securities Exchange Act of
1934) directly or indirectly of at least 100% of the voting power of the outstanding capital
stock of the Foreign Subsidiary Borrower ordinarily having the right to vote at an election
of directors; or

62

 

     (m) any material provision of any Loan Document for any reason ceases to be valid,
binding and enforceable in accordance with its terms (or the Company or any Subsidiary shall
challenge the enforceability of any Loan Document or shall assert in writing, or engage in
any action or inaction based on any such assertion, that any provision of any of the Loan
Documents has ceased to be or otherwise is not valid, binding and enforceable in accordance
with its terms);

then, and in every such event (other than an event with respect to the Company described in clause
(h) or (i) of this Article), and at any time thereafter during the continuance of such event, the
Administrative Agent may, and at the request of the Required Lenders shall, by notice to the
Company, take either or both of the following actions, at the same or different times: (i)
terminate the Commitments, and thereupon the Commitments shall terminate immediately, and (ii)
declare the Loans then outstanding to be due and payable in whole (or in part, in which case any
principal not so declared to be due and payable may thereafter be declared to be due and payable),
and thereupon the principal of the Loans so declared to be due and payable, together with accrued
interest thereon and all fees and other Obligations of the Borrowers accrued hereunder and under
the other Loan Documents, shall become due and payable immediately, without presentment, demand,
protest or other notice of any kind, all of which are hereby waived by the Borrowers; and in case
of any event with respect to the Company described in clause (h) or (i) of this Article, the
Commitments shall automatically terminate and the principal of the Loans then outstanding, together
with accrued interest thereon and all fees and other Obligations accrued hereunder and under the
other Loan Documents, shall automatically become due and payable, without presentment, demand,
protest or other notice of any kind, all of which are hereby waived by the Borrowers.

ARTICLE VII

The Administrative Agent

          Each of the Lenders and the Issuing Bank hereby irrevocably appoints the Administrative Agent
as its agent and authorizes the Administrative Agent to take such actions on its behalf, including
execution of the other Loan Documents, and to exercise such powers as are delegated to the
Administrative Agent by the terms of the Loan Documents, together with such actions and powers as
are reasonably incidental thereto.

          The bank serving as the Administrative Agent hereunder shall have the same rights and powers
in its capacity as a Lender as any other Lender and may exercise the same as though it were not the
Administrative Agent, and such bank and its Affiliates may accept deposits from, lend money to and
generally engage in any kind of business with Company or any Subsidiary or other Affiliate thereof
as if it were not the Administrative Agent hereunder.

          The Administrative Agent shall not have any duties or obligations except those expressly set
forth in the Loan Documents. Without limiting the generality of the foregoing, (a) the
Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of
whether a Default has occurred and is continuing, (b) the Administrative Agent shall not have any
duty to take any discretionary action or exercise any discretionary powers, except discretionary
rights and powers expressly contemplated by the Loan Documents that the Administrative Agent is
required to exercise in writing as directed by the Required Lenders (or such other number or
percentage of the Lenders as shall be necessary under the circumstances as provided in Section
8.02), and (c) except as expressly set forth in the Loan Documents, the Administrative Agent shall
not have any duty to disclose, and shall not be liable for the failure to disclose, any information
relating to the Company or any of its Subsidiaries that is communicated to or obtained by the bank
serving as Administrative Agent or any of its Affiliates in any capacity. The Administrative Agent
shall not be liable for any action taken or not taken by it with the consent or at the request of
the Required Lenders (or such other number or percentage of the Lenders as

63

 

shall be necessary under the circumstances as provided in Section 8.02) or in the absence of
its own gross negligence or willful misconduct. The Administrative Agent shall be deemed not to
have knowledge of any Default unless and until written notice thereof is given to the
Administrative Agent by the Company or a Lender, and the Administrative Agent shall not be
responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or
representation made in or in connection with any Loan Document, (ii) the contents of any
certificate, report or other document delivered hereunder or in connection with any Loan Document,
(iii) the performance or observance of any of the covenants, agreements or other terms or
conditions set forth in any Loan Document, (iv) the validity, enforceability, effectiveness or
genuineness of any Loan Document or any other agreement, instrument or document or (v) the
satisfaction of any condition set forth in Article IV or elsewhere in any Loan Document, other than
to confirm receipt of items expressly required to be delivered to the Administrative Agent or its
counsel.

          The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for
relying upon, any notice, request, certificate, consent, statement, instrument, document or other
writing believed by it to be genuine and to have been signed or sent by the proper Person. The
Administrative Agent also may rely upon any statement made to it orally or by telephone and
believed by it to be made by the proper Person, and shall not incur any liability for relying
thereon. The Administrative Agent may consult with legal counsel (who may be counsel for the
Company), independent accountants and other experts selected by it, and shall not be liable for any
action taken or not taken by it in accordance with the advice of any such counsel, accountants or
experts.

          The Administrative Agent may perform any and all of its duties and exercise its rights and
powers by or through any one or more sub-agents appointed by the Administrative Agent. The
Administrative Agent and any such sub-agent may perform any and all its duties and exercise its
rights and powers through their respective Related Parties. The exculpatory provisions of the
preceding paragraphs shall apply to any such sub-agent and to the Related Parties of the
Administrative Agent and any such sub-agent, and shall apply to their respective activities in
connection with the syndication of the credit facilities provided for herein as well as activities
as Administrative Agent.

          Subject to the appointment and acceptance of a successor Administrative Agent as provided in
this paragraph, the Administrative Agent may resign at any time by notifying the Lenders, the
Issuing Bank and the Company. Upon any such resignation, the Required Lenders shall have the
right, in consultation with the Company, to appoint a successor. If no successor shall have been
so appointed by the Required Lenders and shall have accepted such appointment within thirty (30)
days after the retiring Administrative Agent gives notice of its resignation, then the retiring
Administrative Agent may, on behalf of the Lenders and the Issuing Bank, appoint a successor
Administrative Agent which shall be a bank with an office in New York, New York, or an Affiliate of
any such bank. Upon the acceptance of its appointment as Administrative Agent hereunder by a
successor, such successor shall succeed to and become vested with all the rights, powers,
privileges and duties of the retiring Administrative Agent, and the retiring Administrative Agent
shall be discharged from its duties and obligations hereunder. The fees payable by any Borrower to
a successor Administrative Agent shall be the same as those payable to its predecessor unless
otherwise agreed between such Borrower and such successor. After the Administrative Agent’s
resignation hereunder, the provisions of this Article and Section 8.03 shall continue in effect for
the benefit of such retiring Administrative Agent, its sub-agents and their respective Related
Parties in respect of any actions taken or omitted to be taken by any of them while it was acting
as Administrative Agent.

          Each Lender acknowledges that it has, independently and without reliance upon the
Administrative Agent or any other Lender and based on such documents and information as it has
deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each
Lender also acknowledges that it will, independently and without reliance upon the Administrative
Agent or any other

64

 

Lender and based on such documents and information as it shall from time to time deem
appropriate, continue to make its own decisions in taking or not taking action under or based upon
this Agreement, any other Loan Document or any related agreement or any document furnished
hereunder or thereunder.

          None of the Lenders, if any, identified in this Agreement as a Syndication Agent or
Co-Documentation Agent shall have any right, power, obligation, liability, responsibility or duty
under this Agreement other than those applicable to all Lenders as such. Without limiting the
foregoing, none of such Lenders shall have or be deemed to have a fiduciary relationship with any
Lender. Each Lender hereby makes the same acknowledgments with respect to the relevant Lenders in
their respective capacities as Syndication Agent or Co-Documentation Agents, as applicable, as it
makes with respect to the Administrative Agent in the preceding paragraph.

          Except with respect to the exercise of setoff rights of any Lender, in accordance with Section
8.08, the proceeds of which are applied in accordance with this Agreement, each Lender agrees that
it will not take any action, nor institute any actions or proceedings, against any Borrower or with
respect to any Loan Document, without the prior written consent of the Required Lenders or, as may
be provided in this Agreement or the other Loan Documents, with the consent of the Administrative
Agent.

          The Lenders are not partners or co-venturers, and no Lender shall be liable for the acts or
omissions of, or (except as otherwise set forth herein in case of the Administrative Agent)
authorized to act for, any other Lender.

ARTICLE VIII

Miscellaneous

          SECTION 8.01. Notices. (a) Except in the case of notices and other communications
expressly permitted to be given by telephone (and subject to paragraph (b) below), all notices and
other communications provided for herein shall be in writing and shall be delivered by hand or
overnight courier service, mailed by certified or registered mail or sent by telecopy, as follows:

     (i) if to any Borrower, to it c/o the Company, 21001 Van Born Road, Taylor, Michigan
48180, Attention of John G. Sznewajs (Telecopy No. (313) 792-6798; Telephone No. (313)
792-6044; e-mail: john_sznewajs@mascohq.com);

     (ii) if to the Administrative Agent, (A) in the case of Borrowings by the Company
denominated in Dollars, to JPMorgan Chase Bank, N.A., 10 South Dearborn, 7th
Floor, Chicago, IL 60603, Attention of Hiral Patel (Telecopy No. 1-888-208-7168, e-mail:
jpm.agency.servicing.6@jpmchase.com and hiral.a.patel@jpmchase.com) and (B) in the
case of Borrowings by the Foreign Subsidiary Borrower or Borrowings denominated in Foreign
Currencies, to J.P. Morgan Europe Limited, 125 London Wall, London EC2Y 5AJ, Attention of
Lesley Pluck (Telecopy No. 44 207 777 2360; e-mail: lesley.x.pluck@jpmorgan.com),
and for general matters, to JPMorgan Chase Bank, N.A., 10 South Dearborn, 9th
Floor, Chicago, IL 60603, Attention of Krys Szremski (Telecopy No. (312) 325-3239; e-mail:
krys.j.szremski@jpmorgan.com);

     (iii) if to the Principal Issuing Bank, to it at JPMorgan Chase Bank, N.A., 10 S.
Dearborn Street, 7th Floor, Chicago, IL 60603, Attention of Phyllis Huggins (Telecopy No.
(312) 732-2729; e-mail: phyllis.huggins@jpmchase.com);

65

 

     (iv) if to the Swingline Lender, to it at JPMorgan Chase Bank, N.A., in the case of
Borrowings by the Company denominated in Dollars, to JPMorgan Chase Bank, N.A., 10 South
Dearborn, 7th Floor, Chicago, IL 60603, Attention of Hiral Patel (Telecopy No.
1-888-208-7168, e-mail: jpm.agency.servicing.6@jpmchase.com and
hiral.a.patel@jpmchase.com) and (B) in the case of Borrowings by the Foreign
Subsidiary Borrower or Borrowings denominated in Foreign Currencies, to J.P. Morgan Europe
Limited, 125 London Wall, London EC2Y 5AJ, Attention of Lesley Pluck (Telecopy No. 44 207
777 2360; e-mail: lesley.x.pluck@jpmorgan.com); and

     (v) if to any other Lender, to it at its address (or telecopy number) set forth in its
Administrative Questionnaire.

          (b) Notices and other communications to the Lenders hereunder may be delivered or furnished
by electronic communications pursuant to procedures approved by the Administrative Agent;
provided that the foregoing shall not apply to notices pursuant to Article II unless
otherwise agreed by the Administrative Agent and the applicable Lender. The Administrative Agent
or the Company may, in its discretion, agree to accept notices and other communications to it
hereunder by electronic communications pursuant to procedures approved by it; provided that
approval of such procedures may be limited to particular notices or communications.

          (c) Any party hereto may change its address or telecopy number for notices and other
communications hereunder by notice to the other parties hereto. All notices and other
communications given to any party hereto in accordance with the provisions of this Agreement shall
be deemed to have been given on the date of receipt.

          SECTION 8.02. Waivers; Amendments. (a) No failure or delay by the Administrative
Agent, the Issuing Bank or any Lender in exercising any right or power hereunder or under any other
Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any
such right or power, or any abandonment or discontinuance of steps to enforce such a right or
power, preclude any other or further exercise thereof or the exercise of any other right or power.
The rights and remedies of the Administrative Agent, the Issuing Bank and the Lenders hereunder and
under the other Loan Documents are cumulative and are not exclusive of any rights or remedies that
they would otherwise have. No waiver of any provision of any Loan Document or consent to any
departure by any Borrower therefrom shall in any event be effective unless the same shall be
permitted by paragraph (b) of this Section, and then such waiver or consent shall be effective only
in the specific instance and for the purpose for which given. Without limiting the generality of
the foregoing, the making of a Loan or issuance of a Letter of Credit shall not be construed as a
waiver of any Default, regardless of whether the Administrative Agent, any Lender or the Issuing
Bank may have had notice or knowledge of such Default at the time.

          (b) Except as provided in Section 2.20 with respect to an Incremental Term Loan Amendment,
neither this Agreement nor any provision hereof may be waived, amended or modified except pursuant
to an agreement or agreements in writing entered into by the Borrowers and the Required Lenders or
by the Borrowers and the Administrative Agent with the consent of the Required Lenders;
provided that no such agreement shall (i) increase the Commitment of any Lender without
the written consent of such Lender, (ii) reduce the principal amount of any Loan or LC Disbursement
or reduce the rate of interest thereon, or reduce any fees payable hereunder, without the written
consent of each Lender directly affected thereby, (iii) postpone the scheduled date of payment of
the principal amount of any Loan or LC Disbursement, or any interest thereon, or any fees payable
hereunder, or reduce the amount of, waive or excuse any such payment, or postpone the scheduled
date of expiration of any Commitment, without the written consent of each Lender directly affected
thereby, (iv) change Section 2.18(b) or (d) in a manner that would alter the pro rata sharing of
payments required thereby, without the written consent

66

 

of each Lender adversely affected thereby, (v) change any of the provisions of this Section or
the definition of “Required Lenders” or any other provision hereof specifying the number or
percentage of Lenders required to waive, amend or modify any rights hereunder or make any
determination or grant any consent hereunder, without the written consent of each Lender (it being
understood that, solely with the consent of the parties prescribed by Section 2.20 to be parties to
an Incremental Term Loan Amendment, Incremental Term Loans may be included in the determination of
Required Lenders on substantially the same basis as the Commitments and the Revolving Loans are
included on the Effective Date) or (vi) release the Company from its obligations under Article IX
without the written consent of each Lender; provided further (x) that no such
agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent,
the Issuing Bank or the Swingline Lender hereunder without the prior written consent of the
Administrative Agent, the Issuing Bank or the Swingline Lender, as the case may be and (y) any
amendment to Section 2.24 shall require the consent of the Administrative Agent, the Swingline
Lender and the Principal Issuing Bank.

          (c) Notwithstanding the foregoing, this Agreement and any other Loan Document may be amended
(or amended and restated) with the written consent of the Required Lenders, the Administrative
Agent and the Borrowers to each relevant Loan Document (x) to add one or more credit facilities (in
addition to the Incremental Term Loans pursuant to an Incremental Term Loan Amendment) to this
Agreement and to permit extensions of credit from time to time outstanding thereunder and the
accrued interest and fees in respect thereof to share ratably in the benefits of this Agreement and
the other Loan Documents with the Revolving Loans, Incremental Term Loans and the accrued interest
and fees in respect thereof and (y) to include appropriately the Lenders holding such credit
facilities in any determination of the Required Lenders and Lenders.

          (d) If, in connection with any proposed amendment, waiver or consent requiring the consent
of “each Lender” or “each Lender directly affected thereby,” the consent of the Required Lenders is
obtained, but the consent of other necessary Lenders is not obtained (any such Lender whose consent
is necessary but not obtained being referred to herein as a “Non-Consenting Lender”), then
the Company may elect to replace a Non-Consenting Lender as a Lender party to this Agreement,
provided that, concurrently with such replacement, (i) another bank or other entity which
is reasonably satisfactory to the Company, the Administrative Agent and the Principal Issuing Bank
shall agree, as of such date, to purchase for cash the Loans and other Obligations due to the
Non-Consenting Lender pursuant to an Assignment and Assumption and to become a Lender for all
purposes under this Agreement and to assume all obligations of the Non-Consenting Lender to be
terminated as of such date and to comply with the requirements of clause (b) of Section 8.04, and
(ii) each Borrower shall pay to such Non-Consenting Lender in same day funds on the day of such
replacement (1) all interest, fees and other amounts then accrued but unpaid to such Non-Consenting
Lender by such Borrower hereunder to and including the date of termination, including without
limitation payments due to such Non-Consenting Lender under Sections 2.15 and 2.17, and (2) an
amount, if any, equal to the payment which would have been due to such Lender on the day of such
replacement under Section 2.16 had the Loans of such Non-Consenting Lender been prepaid on such
date rather than sold to the replacement Lender.

          (e) Notwithstanding anything to the contrary herein the Administrative Agent may, with the
consent of the Borrowers only, amend, modify or supplement this Agreement or any of the other Loan
Documents to cure any ambiguity, omission, mistake, defect or inconsistency. Both before and
promptly after the execution thereof, the Administrative Agent shall furnish a copy of such
amendment, modification or supplement to each Lender.

          SECTION 8.03. Expenses; Indemnity; Damage Waiver. (a) The Company shall pay (i) all
reasonable out-of-pocket expenses incurred by the Administrative Agent and its Affiliates,
including the reasonable fees, charges and disbursements of counsel for the Administrative Agent,
in connection

67

 

with the syndication and distribution (including, without limitation, via the internet or
through a service such as IntraLinks) of the credit facilities provided for herein, the preparation
and administration of this Agreement and the other Loan Documents or any amendments, modifications
or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby
or thereby shall be consummated), (ii) all reasonable out-of-pocket expenses incurred by the
Issuing Bank in connection with the issuance, amendment, renewal or extension of any Letter of
Credit or any demand for payment thereunder and (iii) all out-of-pocket expenses incurred by the
Administrative Agent, the Issuing Bank or any Lender, including the fees, charges and disbursements
of any counsel for the Administrative Agent, the Issuing Bank or any Lender, in connection with the
enforcement or protection of its rights in connection with this Agreement and any other Loan
Document, including its rights under this Section, or in connection with the Loans made or Letters
of Credit issued hereunder, including all such out-of-pocket expenses incurred during any workout,
restructuring or negotiations in connection therewith in respect of such Loans or Letters of
Credit.

          (b) The Company shall indemnify the Administrative Agent, the Issuing Bank and each Lender,
and each Related Party of any of the foregoing Persons (each such Person being called an
“Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims,
damages, liabilities and related expenses, including the fees, charges and disbursements of any
counsel for any Indemnitee, incurred by or asserted against any Indemnitee arising out of, in
connection with, or as a result of (i) the execution or delivery of any Loan Document or any
agreement or instrument contemplated thereby, the performance by the parties hereto of their
respective obligations thereunder or the consummation of the Transactions or any other transactions
contemplated hereby, (ii) any Loan or Letter of Credit or the use of the proceeds therefrom
(including any refusal by the Issuing Bank to honor a demand for payment under a Letter of Credit
if the documents presented in connection with such demand do not strictly comply with the terms of
such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on
or from any property owned or operated by the Company or any of its Subsidiaries, or any
Environmental Liability related in any way to the Company or any of its Subsidiaries, or (iv) any
actual or prospective claim, litigation, investigation or proceeding relating to any of the
foregoing, whether based on contract, tort or any other theory and regardless of whether any
Indemnitee is a party thereto; provided that such indemnity shall not, as to any
Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related
expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to
have resulted from the gross negligence or willful misconduct of, or the material breach of any
express material obligation of, such Indemnitee.

          (c) To the extent that the Company fails to pay any amount required to be paid by it to the
Administrative Agent, the Issuing Bank or the Swingline Lender under paragraph (a) or (b) of this
Section, each Lender severally agrees to pay to the Administrative Agent, the Issuing Bank or the
Swingline Lender, as the case may be, such Lender’s Applicable Percentage (determined as of the
time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount
(it being understood that the Company’s failure to pay any such amount shall not relieve the
Company of any default in the payment thereof); provided that the unreimbursed expense or
indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by
or asserted against the Administrative Agent, the Issuing Bank or the Swingline Lender in its
capacity as such.

          (d) To the extent permitted by applicable law, no Borrower shall assert, and each Borrower
hereby waives, any claim against any Indemnitee (i) for any damages arising from the use by others
of information or other materials obtained through telecommunications, electronic or other
information transmission systems (including the Internet), except to the extent found by a final
non-appealable judgment of a court of competent jurisdiction to have resulted from the gross
negligence or willful misconduct of such Indemnitee, or (ii) on any theory of liability, for
special, indirect, consequential or punitive damages (as opposed to direct or actual damages)
arising out of, in connection

68

 

with, or as a result of, this Agreement, any other Loan Document or any agreement or
instrument contemplated hereby or thereby, the Transactions, any Loan or Letter of Credit or the
use of the proceeds thereof.

          (e) All amounts due under this Section shall be payable not later than fifteen (15) days
after written demand therefor.

          SECTION 8.04. Successors and Assigns. (a) The provisions of this Agreement shall be
binding upon and inure to the benefit of the parties hereto and their respective successors and
assigns permitted hereby (including any Affiliate of the Issuing Bank that issues any Letter of
Credit), except that (i) no Borrower may assign or otherwise transfer any of its rights or
obligations hereunder without the prior written consent of each Lender (and any attempted
assignment or transfer by any Borrower without such consent shall be null and void) and (ii) no
Lender may assign or otherwise transfer its rights or obligations hereunder except in accordance
with this Section. Nothing in this Agreement, expressed or implied, shall be construed to confer
upon any Person (other than the parties hereto, their respective successors and assigns permitted
hereby (including any Affiliate of the Issuing Bank that issues any Letter of Credit), Participants
(to the extent provided in paragraph (c) of this Section) and, to the extent expressly contemplated
hereby, the Related Parties of each of the Administrative Agent, the Issuing Bank and the Lenders)
any legal or equitable right, remedy or claim under or by reason of this Agreement.

     (b)(i) Subject to the conditions set forth in paragraph (b)(ii) below, any Lender
may assign to one or more assignees all or a portion of its rights and obligations under
this Agreement (including all or a portion of its Commitment and the Loans at the time owing
to it) with the prior written consent (such consent not to be unreasonably withheld or
delayed) of:

     (A) the Company, provided that no consent of the Company shall be
required for an assignment to a Lender, an Affiliate of a Lender, an Approved Fund
or, if an Event of Default has occurred and is continuing, any other assignee;

     (B) the Administrative Agent; and

     (C) the Principal Issuing Bank.

     (ii) Assignments shall be subject to the following additional conditions:

     (A) except in the case of an assignment to a Lender or an Affiliate of a Lender
or an Approved Fund or an assignment of the entire remaining amount of the assigning
Lender’s Commitment or Loans of any Class, the amount of the Commitment or Loans of
the assigning Lender subject to each such assignment (determined as of the date the
Assignment and Assumption with respect to such assignment is delivered to the
Administrative Agent) shall not be less than $10,000,000 unless each of the Company
and the Administrative Agent otherwise consent, provided that no such
consent of the Company shall be required if an Event of Default has occurred and is
continuing;

     (B) each partial assignment shall be made as an assignment of a proportionate
part of all the assigning Lender’s rights and obligations under this Agreement,
provided that this clause shall not be construed to prohibit the assignment of a
proportionate part of all the assigning Lender’s rights and obligations in respect
of one Class of Commitments or Loans;

69

 

     (C) the parties to each assignment shall execute and deliver to the
Administrative Agent an Assignment and Assumption, together with a processing and
recordation fee of $3,500, such fee to be paid by either the assigning Lender or the
assignee Lender or shared between such Lenders; provided, that the Company
shall pay such assignment fee in connection with a replacement of any Lender
requested by the Borrower pursuant to Section 2.19(b) or 8.02(d) of this Agreement;
and

     (D) the assignee, if it shall not be a Lender, shall deliver to the
Administrative Agent an Administrative Questionnaire in which the assignee
designates one or more credit contacts to whom all syndicate-level information
(which may contain material non-public information about the Company and its
Affiliates and their Related Parties or their respective securities) will be made
available and who may receive such information in accordance with the assignee’s
compliance procedures and applicable laws, including Federal and state securities
laws.

          For the purposes of this Section 8.04(b), the term “Approved Fund” has the following
meaning:

          “Approved Fund” means any Person (other than a natural person) that is engaged in
making, purchasing, holding or investing in bank loans and similar extensions of credit in the
ordinary course of its business and that is administered or managed by (a) a Lender, (b) an
Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a
Lender.

          (iii) Subject to acceptance and recording thereof pursuant to paragraph (b)(iv) of this
Section, from and after the effective date specified in each Assignment and Assumption the assignee
thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment
and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning
Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption,
be released from its obligations under this Agreement (and, in the case of an Assignment and
Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such
Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of
Sections 2.15, 2.16, 2.17 and 8.03). Any assignment or transfer by a Lender of rights or
obligations under this Agreement that does not comply with this Section 8.04 shall be treated for
purposes of this Agreement as a sale by such Lender of a participation in such rights and
obligations in accordance with paragraph (c) of this Section.

          (iv) The Administrative Agent, acting for this purpose as an agent of each Borrower, shall
maintain at one of its offices a copy of each Assignment and Assumption delivered to it and a
register for the recordation of the names and addresses of the Lenders, and the Commitment of, and
principal amount of the Loans and LC Disbursements owing to, each Lender pursuant to the terms
hereof from time to time (the “Register”). The entries in the Register shall be
conclusive, and the Borrowers, the Administrative Agent, the Issuing Bank and the Lenders may treat
each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender
hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register
shall be available for inspection by the Company, the Issuing Bank and any Lender, at any
reasonable time and from time to time upon reasonable prior notice.

          (v) Upon its receipt of a duly completed Assignment and Assumption executed by an assigning
Lender and an assignee, the assignee’s completed Administrative Questionnaire (unless the assignee
shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph
(b) of this Section and any written consent to such assignment required by paragraph (b) of this
Section, the Administrative Agent shall accept such Assignment and Assumption and record the
information

70

 

contained therein in the Register; provided that if either the assigning Lender or the
assignee shall have failed to make any payment required to be made by it pursuant to Section
2.05(d), 2.06(d) or (e), 2.07(b), 2.18(e) or 8.03(c), the Administrative Agent shall have no
obligation to accept such Assignment and Assumption and record the information therein in the
Register unless and until such payment shall have been made in full, together with all accrued
interest thereon. No assignment shall be effective for purposes of this Agreement unless it has
been recorded in the Register as provided in this paragraph.

          (c) (i) Any Lender may, without the consent of the Company, the Administrative Agent, the
Issuing Bank or the Swingline Lender, sell participations to one or more banks or other entities (a
“Participant”) in all or a portion of such Lender’s rights and obligations under this
Agreement (including all or a portion of its Commitment and the Loans owing to it);
provided that (A) such Lender’s obligations under this Agreement shall remain unchanged,
(B) such Lender shall remain solely responsible to the other parties hereto for the performance of
such obligations and (C) the Borrowers, the Administrative Agent, the Issuing Bank and the other
Lenders shall continue to deal solely and directly with such Lender in connection with such
Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to
which a Lender sells such a participation shall provide that such Lender shall retain the sole
right to enforce this Agreement and to approve any amendment, modification or waiver of any
provision of this Agreement; provided that such agreement or instrument may provide that
such Lender will not, without the consent of the Participant, agree to any amendment, modification
or waiver described in the first proviso to Section 8.02(b) that affects such Participant. Subject
to paragraph (c)(ii) of this Section, each Borrower agrees that each Participant shall be entitled
to the benefits of Sections 2.15, 2.16 and 2.17 to the same extent as if it were a Lender and had
acquired its interest by assignment pursuant to paragraph (b) of this Section. To the extent
permitted by law, each Participant also shall be entitled to the benefits of Section 8.08 as though
it were a Lender, provided such Participant agrees to be subject to Section 2.18(d) as
though it were a Lender.

          (ii) A Participant shall not be entitled to receive any greater payment under Section 2.15 or
2.17 than the applicable Lender would have been entitled to receive with respect to the
participation sold to such Participant, unless the sale of the participation to such Participant is
made with the Company’s prior written consent. A Participant that would be a Foreign Lender if it
were a Lender shall not be entitled to the benefits of Section 2.17 unless the Company is notified
of the participation sold to such Participant and such Participant, for the benefit of the Company,
complies with Section 2.17(e) as though it were a Lender.

          (iii) Each Lender that sells a participation shall, acting solely for this purpose as a
non-fiduciary agent of the Company, maintain a register on which it enters the name and address of
each Participant and the principal amounts (and stated interest) of each Participant’s interest in
the Loans or other obligations under the Loan Documents (the “Participant Register”);
provided that no Lender shall have any obligation to disclose all or any portion of
the Participant Register to the Company or any other Person (including the identity of any
Participant or any information relating to a Participant’s interest in the Loans or other
obligations under this Agreement) except to the extent that such disclosure is necessary to
establish that the Loans are in registered form under Section 5f.103-l(c) of the United States
Treasury Regulations (or any comparable or successor provision). The entries in the Participant
Register shall be conclusive absent manifest error, and such Lender shall treat each person whose
name is recorded in the Participant Register as the owner of such participation for all purposes of
this Agreement notwithstanding any notice to the contrary.

          (d) Any Lender may at any time pledge or assign a security interest in all or any portion of
its rights under this Agreement to secure obligations of such Lender, including without limitation
any pledge or assignment to secure obligations to a Federal Reserve Bank, and this Section shall
not apply to any such pledge or assignment of a security interest; provided that no such pledge or

71

 

assignment of a security interest shall release a Lender from any of its obligations hereunder
or substitute any such pledgee or assignee for such Lender as a party hereto.

          SECTION 8.05. Survival. All covenants, agreements, representations and warranties
made by the Borrowers in the Loan Documents and in the certificates or other instruments delivered
in connection with or pursuant to this Agreement or any other Loan Document shall be considered to
have been relied upon by the other parties hereto and shall survive the execution and delivery of
the Loan Documents and the making of any Loans and issuance of any Letters of Credit, regardless of
any investigation made by any such other party or on its behalf and notwithstanding that the
Administrative Agent, the Issuing Bank or any Lender may have had notice or knowledge of any
Default or incorrect representation or warranty at the time any credit is extended hereunder, and
shall continue in full force and effect as long as the principal of or any accrued interest on any
Loan or any fee or any other amount payable under this Agreement or any other Loan Document is
outstanding and unpaid or any Letter of Credit is outstanding and so long as the Commitments have
not expired or terminated. The provisions of Sections 2.15, 2.16, 2.17 and 8.03 and Article VII
shall survive and remain in full force and effect regardless of the consummation of the
transactions contemplated hereby, the repayment of the Loans, the expiration or termination of the
Letters of Credit and the Commitments or the termination of this Agreement or any other Loan
Document or any provision hereof or thereof.

          SECTION 8.06. Counterparts; Integration; Effectiveness. This Agreement may be
executed in counterparts (and by different parties hereto on different counterparts), each of which
shall constitute an original, but all of which when taken together shall constitute a single
contract. This Agreement, the other Loan Documents and any separate letter agreements with respect
to fees payable to the Administrative Agent constitute the entire contract among the parties
relating to the subject matter hereof and supersede any and all previous agreements and
understandings, oral or written, relating to the subject matter hereof. Except as provided in
Section 4.01, this Agreement shall become effective when it shall have been executed by the
Administrative Agent and when the Administrative Agent shall have received counterparts hereof
which, when taken together, bear the signatures of each of the other parties hereto, and thereafter
shall be binding upon and inure to the benefit of the parties hereto and their respective
successors and assigns. Delivery of an executed counterpart of a signature page of this Agreement
by facsimile or other electronic imaging shall be effective as delivery of a manually executed
counterpart of this Agreement.

          SECTION 8.07. Severability. Any provision of any Loan Document held to be invalid,
illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the
extent of such invalidity, illegality or unenforceability without affecting the validity, legality
and enforceability of the remaining provisions thereof; and the invalidity of a particular
provision in a particular jurisdiction shall not invalidate such provision in any other
jurisdiction.

          SECTION 8.08. Right of Setoff. If (i) a payment Event of Default under Section
6.01(a) shall have occurred and be continuing, or (ii) any other Event of Default shall have
occurred and be continuing and the Required Lenders have consented to the following, each Lender
and each of its Affiliates is hereby authorized at any time and from time to time, to the fullest
extent permitted by law, to set off and apply any and all deposits (general or special, time or
demand, provisional or final and in whatever currency denominated) at any time held and other
obligations at any time owing by such Lender or Affiliate to or for the credit or the account of
any Borrower against any of and all of the Obligations held by such Lender, irrespective of whether
or not such Lender shall have made any demand under the Loan Documents and although such
obligations may be unmatured. The rights of each Lender under this Section are in addition to
other rights and remedies (including other rights of setoff) which such Lender may have.

72

 

          SECTION 8.09. Governing Law; Jurisdiction; Consent to Service of Process. (a) This
Agreement shall be construed in accordance with and governed by the law of the State of New York.

          (b) Each Borrower hereby irrevocably and unconditionally submits, for itself and its
property, to the nonexclusive jurisdiction of the Supreme Court of the State of New York sitting in
New York County and of the United States District Court of the Southern District of New York, and
any appellate court from any thereof, in any action or proceeding arising out of or relating to any
Loan Document, or for recognition or enforcement of any judgment, and each of the parties hereto
hereby irrevocably and unconditionally agrees that all claims in respect of any such action or
proceeding may be heard and determined in such New York State or, to the extent permitted by law,
in such Federal court. Each of the parties hereto agrees, to the fullest extent permitted by law,
that a final judgment in any such action or proceeding shall be conclusive and may be enforced in
other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in
this Agreement or any other Loan Document shall affect any right that the Administrative Agent, the
Issuing Bank or any Lender may otherwise have to bring any action or proceeding relating to this
Agreement or any other Loan Document against any Borrower or its properties in the courts of any
jurisdiction.

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

          (d) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 8.01. The Foreign Subsidiary Borrower irrevocably designates and
appoints the Company, as its authorized agent, to accept and acknowledge on its behalf, service of
any and all process which may be served in any suit, action or proceeding of the nature referred to
in Section 8.09(b) in any federal or New York State court sitting in New York City. The Company
hereby represents, warrants and confirms that the Company has agreed to accept such appointment.
Said designation and appointment shall be irrevocable by the Foreign Subsidiary Borrower until all
Loans, all reimbursement obligations, interest thereon and all other amounts payable by the Foreign
Subsidiary Borrower hereunder and under the other Loan Documents shall have been paid in full in
accordance with the provisions hereof and thereof. The Foreign Subsidiary Borrower hereby consents
to process being served in any suit, action or proceeding of the nature referred to in Section
8.09(b) in any federal or New York State court sitting in New York City by service of process upon
the Company as provided in this Section 8.09(d); provided that, to the extent lawful and
possible, notice of said service upon such agent shall be mailed by registered or certified air
mail, postage prepaid, return receipt requested, to the Company and (if applicable to) the Foreign
Subsidiary Borrower at its address set forth herein or to any other address of which the Foreign
Subsidiary Borrower shall have given written notice to the Administrative Agent (with a copy
thereof to the Company). The Foreign Subsidiary Borrower irrevocably waives, to the fullest extent
permitted by law, all claim of error by reason of any such service in such manner and agrees that
such service shall be deemed in every respect effective service of process upon the Foreign
Subsidiary Borrower in any such suit, action or proceeding and shall, to the fullest extent
permitted by law, be taken and held to be valid and personal service upon and personal delivery to
the Foreign Subsidiary Borrower. To the extent the Foreign Subsidiary Borrower has or hereafter
may acquire any immunity from jurisdiction of any court or from any legal process (whether from
service or notice, attachment prior to judgment, attachment in aid of execution of a judgment,
execution or otherwise), the Foreign Subsidiary Borrower hereby irrevocably waives, to the fullest
extent permitted by law, such immunity in respect of its obligations under the Loan Documents.
Nothing in this Agreement

73

 

or any other Loan Document will affect the right of any party to this Agreement to serve
process in any other manner permitted by law.

          SECTION 8.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL
PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER LOAN
DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY
OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY
OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT
OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER
PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL
WAIVERS AND CERTIFICATIONS IN THIS SECTION.

          SECTION 8.11. Headings. Article and Section headings and the Table of Contents used
herein are for convenience of reference only, are not part of this Agreement and shall not affect
the construction of, or be taken into consideration in interpreting, this Agreement.

          SECTION 8.12. Confidentiality. Each of the Administrative Agent, the Issuing Bank
and the Lenders agrees to maintain the confidentiality of the Information (as defined below),
except that Information may be disclosed (a) to its and its Affiliates’ directors, officers,
employees and agents, including accountants, legal counsel and other advisors (it being understood
that the Persons to whom such disclosure is made will be informed of the confidential nature of
such Information and instructed to keep such Information confidential), (b) to the extent requested
by any regulatory authority (including any self-regulatory authority, such as the National
Association of Insurance Commissioners), (c) to the extent required by applicable laws or
regulations or by any subpoena or similar legal process, (d) to any other party to this Agreement,
(e) in connection with the exercise of any remedies under this Agreement or any other Loan Document
or any suit, action or proceeding relating to this Agreement or any other Loan Document or the
enforcement of rights hereunder or thereunder, (f) subject to an agreement containing provisions
substantially the same as those of this Section, to (i) any assignee of or Participant in, or any
prospective assignee of or Participant in, any of its rights or obligations under this Agreement or
(ii) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction
relating to any Borrower and its obligations, (g) with the consent of the Company or (h) to the
extent such Information (i) becomes publicly available other than as a result of a breach of this
Section or (ii) becomes available to the Administrative Agent, the Issuing Bank or any Lender on a
nonconfidential basis from a source other than the Company (other than a Person if and to the
extent that the Administrative Agent, the Issuing Bank or such Lender has actual knowledge that
such Person is acting in violation of an obligation to maintain such information as confidential).
For the purposes of this Section, “Information” means all information received from the
Company relating to the Company or its business, other than any such information that is available
to the Administrative Agent, the Issuing Bank or any Lender on a nonconfidential basis prior to
disclosure by the Company; provided that, in the case of information received from the
Company after the date hereof, such information is clearly identified at the time of delivery as
confidential. Any Person required to maintain the confidentiality of Information as provided in
this Section shall be considered to have complied with its obligation to do so if such Person has
exercised the same degree of care to maintain the confidentiality of such Information as such
Person would accord to its own confidential information.

          SECTION 8.13. USA PATRIOT Act. Each Lender that is subject to the requirements of
the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the
“Act”)

74

 

hereby notifies each Borrower that pursuant to the requirements of the Act, it is required to
obtain, verify and record information that identifies such Borrower, which information includes the
name and address of such Borrower and other information that will allow such Lender to identify
such Borrower in accordance with the Act.

ARTICLE IX

Company Guarantee

          In order to induce the Lenders to extend credit to the Foreign Subsidiary Borrower hereunder,
but subject to the last sentence of this Article IX, the Company hereby irrevocably and
unconditionally guarantees, as a primary obligor and not merely as a surety, the payment when and
as due of the Obligations of the Foreign Subsidiary Borrower. The Company further agrees that the
due and punctual payment of such Obligations may be extended or renewed, in whole or in part,
without notice to or further assent from it, and that it will remain bound upon its guarantee
hereunder notwithstanding any such extension or renewal of any such Obligations.

          The Company waives presentment to, demand of payment from and protest to the Foreign
Subsidiary Borrower of any of the Obligations, and also waives notice of acceptance of its
obligations and notice of protest for nonpayment. The obligations of the Company hereunder shall
not, to the fullest extent permitted by law, be affected by (a) the failure of the Administrative
Agent, the Issuing Bank or any Lender to assert any claim or demand or to enforce any right or
remedy against any Borrower under the provisions of this Agreement, any other Loan Document or
otherwise; (b) any extension or renewal of any of the Obligations; (c) any rescission, waiver,
amendment or modification of, or release from, any of the terms or provisions of this Agreement, or
any other Loan Document or agreement; (d) any default, failure or delay, willful or otherwise, in
the performance of any of the Obligations; (e) the failure of the Administrative Agent to take any
steps to perfect and maintain any security interest in, or to preserve any rights to, any security
or collateral for the Obligations, if any; (f) any change in the corporate, partnership or other
existence, structure or ownership of any Borrower or any other guarantor of any of the Obligations;
(g) the enforceability or validity of the Obligations or any part thereof or the genuineness,
enforceability or validity of any agreement relating thereto or with respect to any collateral (if
any) securing the Obligations or any part thereof, or any other invalidity or unenforceability
relating to or against any Borrower or any other guarantor of any of the Obligations, for any
reason related to this Agreement, any other Loan Document, or any provision of applicable law,
decree, order or regulation of any jurisdiction purporting to prohibit the payment by such Borrower
or any other guarantor of the Obligations, of any of the Obligations or otherwise affecting any
term of any of the Obligations; or (h) any other act, omission or delay to do any other act which
may or might in any manner or to any extent vary the risk of such Borrower or otherwise operate as
a discharge of a guarantor as a matter of law or equity or which would impair or eliminate any
right of the Company to subrogation.

          The Company further agrees that its agreement hereunder constitutes a guarantee of payment
when due (whether or not any bankruptcy or similar proceeding shall have stayed the accrual or
collection of any of the Obligations or operated as a discharge thereof) and not merely of
collection, and waives, to the fullest extent permitted by law, any right to require that any
resort be had by the Administrative Agent, the Issuing Bank or any Lender to any balance of any
deposit account or credit on the books of the Administrative Agent, the Issuing Bank or any Lender
in favor of any Borrower or any other Person.

          The obligations of the Company hereunder shall, to the fullest extent permitted by law, not be
subject to any reduction, limitation, impairment or termination for any reason, and shall not be

75

 

subject to any defense or set-off, counterclaim, recoupment or termination whatsoever, by
reason of the invalidity, illegality or unenforceability of any of the Obligations, any
impossibility in the performance of any of the Obligations or otherwise.

          The Company further agrees that its obligations hereunder shall continue to be effective or be
reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is
rescinded or must otherwise be restored by the Administrative Agent, the Issuing Bank or any Lender
upon the bankruptcy or reorganization of any Borrower or otherwise.

          In furtherance of the foregoing and not in limitation of any other right which the
Administrative Agent, the Issuing Bank or any Lender may have at law or in equity against any
Borrower by virtue hereof, upon the failure of the Foreign Subsidiary Borrower to pay any
Obligation when and as the same shall become due, whether at maturity, by acceleration, after
notice of prepayment or otherwise, the Company hereby promises to and will, upon receipt of written
demand by the Administrative Agent, the Issuing Bank or any Lender, forthwith pay, or cause to be
paid, to the Administrative Agent, the Issuing Bank or any Lender in cash an amount equal to the
unpaid principal amount of such Obligations then due, together with accrued and unpaid interest
thereon. The Company further agrees that if payment in respect of any Obligation shall be due in a
currency other than Dollars and/or at a place of payment other than New York, Chicago or any other
Eurocurrency Payment Office and if, by reason of any Change in Law, disruption of currency or
foreign exchange markets, war or civil disturbance or other event, payment of such Obligation in
such currency or at such place of payment shall be impossible or, in the reasonable judgment of the
Administrative Agent, the Issuing Bank or any Lender, disadvantageous to the Administrative Agent,
the Issuing Bank or any Lender in any material respect, then, at the election of the Administrative
Agent, the Company shall, to the fullest extent permitted by law, make payment of such Obligation
in Dollars (based upon the applicable Equivalent Amount in effect on the date of payment) and/or in
New York, Chicago or such other Eurocurrency Payment Office as is designated by the Administrative
Agent and, as a separate and independent obligation, shall, to the fullest extent permitted by law,
indemnify the Administrative Agent, the Issuing Bank and any Lender against any losses or
reasonable out-of-pocket expenses that it shall sustain as a result of such alternative payment.

          Upon payment by the Company of any sums as provided above, all rights of the Company against
the Foreign Subsidiary Borrower arising as a result thereof by way of right of subrogation or
otherwise shall in all respects be subordinated and junior in right of payment to the prior
indefeasible payment in full in cash of all the Obligations owed by the Company to the
Administrative Agent, the Issuing Bank and the Lenders.

          Nothing shall discharge or satisfy the liability of any Borrower hereunder except the full
performance and payment of the Obligations.

[Signature Pages Follow] 

76

 

          IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by
their respective authorized signatories as of the day and year first above written.

	 	 	 	 	 
	 	MASCO CORPORATION, as the Company

 	 
	 	By: 	/s/ John G. Sznewajs 	 
	 	 	Name:  	John G. Sznewajs 	 
	 	 	Title:  	Vice President, Treasurer and

             Chief Financial Officer
 	 
	 
	 	MASCO EUROPE S.À.R.L., as the Foreign Subsidiary Borrower

 	 
	 	By: 	/s/ John G. Sznewajs 	 
	 	 	Name:  	John G. Sznewajs 	 
	 	 	Title:  	Manager 	 

	 	 	 	 	 
	 	By: 	/s/ Jerry W. Mollien 	 
	 	 	Name:  	Jerry W. Mollien 	 
	 	 	Title:  	Manager 	 
	 

Signature Page to MASCO Corporation Credit Agreement

 

 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A., individually as a Lender, as the Swingline Lender, as the Principal Issuing Bank and as Administrative Agent

 	 
	 	By: 	/s/ Thomas A. Gamm 	 
	 	 	Name:  	Thomas A. Gamm 	 
	 	 	Title:  	Senior Vice President 	 
	 

Signature Page to MASCO Corporation Credit Agreement

 

 

	 	 	 	 	 
	 	CITIBANK, N.A., as a Lender and as Syndication Agent

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

Signature Page to MASCO Corporation Credit Agreement

 

 

	 	 	 	 	 
	 	ROYAL BANK OF CANADA, as a Lender

 	 
	 	By:  	/s/  Meredith Majesty
 	 
	 	 	Name:  	Meredith Majesty 	 
	 	 	Title:  	Authorized Signatory 	 
	 

Signature Page to MASCO Corporation Credit Agreement

 

 

	 	 	 	 	 
	 	WELLS FARGO BANK, N.A., as a Lender

 	 
	 	By:  	/s/  Joseph Giampetroni
 	 
	 	 	Name:  	Joseph Giampetroni 	 
	 	 	Title:  	Managing Director 	 
	 

Signature Page to MASCO Corporation Credit Agreement

 

 

	 	 	 	 	 
	 	DEUTSCHE BANK AG NEW YORK BRANCH,

as a Lender

 	 
	 	By:  	/s/  Frederick W. Laird
 	 
	 	 	Name:  	Frederick W. Laird 	 
	 	 	Title:  	Managing Director 	 
	 	 	 
	 	By:  	/s/  Heidi Sandquist
 	 
	 	 	Name:  	Heidi Sandquist 	 
	 	 	Title:  	Director 	 
	 

Signature Page to MASCO Corporation Credit Agreement

 

 

	 	 	 	 	 
	 	SUMITOMO MITSUI BANKING CORPORATION,

as a Lender

 	 
	 	By:  	/s/  Yasuhiko Imai
 	 
	 	 	Name:  	Yasuhiko Imai 	 
	 	 	Title:  	Senior Vice President 	 
	 

Signature Page to MASCO Corporation Credit Agreement

 

 

	 	 	 	 	 
	 	PNC BANK, NATIONAL ASSOCIATION, as a Lender

 	 
	 	By:  	/s/  Arthur F. Gray
 	 
	 	 	Name:  	Arthur F. Gray 	 
	 	 	Title:  	Senior Vice President 	 
	 

Signature Page to MASCO Corporation Credit Agreement

 

 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A., as a Lender

 	 
	 	By:  	/s/  W. Thomas Barnett
 	 
	 	 	Name:  	W. Thomas Barnett 	 
	 	 	Title:  	Senior Vice President 	 
	 

Signature Page to MASCO Corporation Credit Agreement

 

 

	 	 	 	 	 
	 	COMERICA BANK, as a Lender

 	 
	 	By:  	/s/  Jessica M. Migliore
 	 
	 	 	Name:  	Jessica M. Migliore 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to MASCO Corporation Credit Agreement

 

 

	 	 	 	 	 
	 	COMMERZBANK AG, NEW YORK AND
GRAND CAYMAN BRANCHES, as a Lender

 	 
	 	By:  	/s/  Peter Wesemeier
 	 
	 	 	Name:  	Peter Wesemeier 	 
	 	 	Title:  	Assistant Vice President 	 
	 
	 	 	 
	 	By:  	/s/  Sandy Bau
 	 
	 	 	Name:  	Sandy Bau 	 
	 	 	Title:  	Assistant Treasurer 	 

Signature Page to MASCO Corporation Credit Agreement

 

 

	 	 	 	 	 
	 	FIFTH THIRD BANK, an Ohio
banking corporation,
 as a Lender
and as an Issuing Bank

as a Lender

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

Signature Page to MASCO Corporation Credit Agreement

 

 

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION, as a Lender

 	 
	 	By:  	/s/ Jeffrey S. Johnson	 
	 	 	Name:  	Jeffrey S. Johnson	 
	 	 	Title:  	Vice President	 
	 

Signature Page to MASCO Corporation Credit Agreement

 

 

	 	 	 	 	 
	 	THE NORTHERN TRUST COMPANY, as a Lender

 	 
	 	By:  	/s/ Rebecca H. Pasquesi	 
	 	 	Name:  	Rebecca H. Pasquesi	 
	 	 	Title:  	Vice President	 
	 

Signature Page to MASCO Corporation Credit Agreement

 

 

	 	 	 	 	 
	 	DEXIA BANQUE INTERNATIONALE À

LUXEMBOURG SA, as a Lender

 	 
	 	By:  	/s/ Andre Poorters
 	 
	 	 	Name:  	Andre Poorters 	 
	 	 	Title:  	Managing Director 	 
	 
	 	 	 
	 	By:  	/s/  Marc Schronen
 	 
	 	 	Name:  	Marc Schronen 	 
	 	 	Title:  	Director 	 

Signature Page to MASCO Corporation Credit Agreement

 

 

	 	 	 	 	 
	 	NORDEA BANK FINLAND PLC, New York & Cayman Islands Branches as a Lender

 	 
	 	By:  	/s/  Henrik M. Steffensen
 	 
	 	 	Name:  	Henrik M. Steffensen 	 
	 	 	Title:  	SVP 	 
	 
	 	 	 
	 	By:  	/s/  Christer Svardh
 	 
	 	 	Name:  	Christer Svardh 	 
	 	 	Title:  	First Vice President 	 

Signature Page to MASCO Corporation Credit Agreement

 

 

	 	 	 	 	 
	 	THE BANK OF NEW YORK MELLON, as a Lender

 	 
	 	By:  	/s/ John T. Smathers	 
	 	 	Name:  	John T. Smathers	 
	 	 	Title:  	First Vice President	 
	 

Signature Page to MASCO Corporation Credit Agreement

 

 

	 	 	 	 	 
	 	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.,

as a Lender

 	 
	 	By:  	/s/ Thomas Danielson
 	 
	 	 	Name:  	Thomas Danielson 	 
	 	 	Title:  	Authorized Signatory 	 
	 

Signature Page to MASCO Corporation Credit Agreement

 

 

	 	 	 	 	 
	 	HSBC BANK USA, as a Lender

 	 
	 	By:  	/s/  Kevin B. Quinn 	 
	 	 	Name:  	Kevin B. Quinn 	 
	 	 	Title:  	Senior Vice President 	 
	 

Signature Page to MASCO Corporation Credit Agreement

 

 

	 	 	 	 	 
	 	KBC BANK N.V., NEW YORK BRANCH,

as a Lender

 	 
	 	By:  	/s/  Tim Lee
 	 
	 	 	Name:  	Tim Lee 	 
	 	 	Title:  	Director 	 
	 
	 	 	 
	 	By:  	/s/  S. Kurtz Barkley
 	 
	 	 	Name:  	S. Kurtz Barkley 	 
	 	 	Title:  	Managing Director 	 
	 

Signature Page to MASCO Corporation Credit Agreement

 

 

SCHEDULE 2.01

COMMITMENTS

	 	 	 	 	 
	Name of Lender     	 	Commitment	 
	JPMorgan Chase Bank, National Association
	 	$	150,000,000	 
	Citibank, N.A.
	 	$	150,000,000	 
	Royal Bank of Canada
	 	$	125,000,000	 
	Wells Fargo Bank, N.A.
	 	$	125,000,000	 
	Deutsche Bank AG New York Branch
	 	$	125,000,000	 
	Sumitomo Mitsui Banking Corporation
	 	$	90,000,000	 
	PNC Bank, National Association
	 	$	75,000,000	 
	Bank of America, N.A.
	 	$	50,000,000	 
	Comerica Bank
	 	$	50,000,000	 
	Commerzbank AG, New York and Grand Cayman Branches
	 	$	50,000,000	 
	Fifth Third Bank, an Ohio banking corporation
	 	$	50,000,000	 
	U.S. Bank National Association
	 	$	50,000,000	 
	The Northern Trust Company
	 	$	45,000,000	 
	Dexia Banque Internationale à Luxembourg SA
	 	$	35,000,000	 
	Nordea Bank Finland Plc
	 	$	25,000,000	 
	The Bank of New York Mellon
	 	$	20,000,000	 
	The Bank of Tokyo-Mitsubishi UFJ, Ltd.
	 	$	15,000,000	 
	HSBC Bank USA
	 	$	10,000,000	 
	KBC Bank, N.V., New York Branch
	 	$	10,000,000	 
	Total Commitments:
	 	$	1,250,000,000	 

 

 

SCHEDULE 2.02

MANDATORY COST

	1.	 	The Mandatory Cost is an addition to the interest rate to compensate Lenders for the
cost of compliance with (a) the requirements of the Bank of England and/or the Financial
Services Authority (or, in either case, any other authority which replaces all or any of its
functions) or (b) the requirements of the European Central Bank.
	 
	2.	 	On the first day of each Interest Period (or as soon as possible thereafter) the
Administrative Agent shall calculate, as a percentage rate, a rate (the “Associated Costs
Rate”) for each Lender, in accordance with the paragraphs set out below. The Mandatory
Cost will be calculated by the Administrative Agent as a weighted average of the Lenders’
Associated Costs Rates (weighted in proportion to the percentage participation of each Lender
in the relevant Loan) and will be expressed as a percentage rate per annum.
	 
	3.	 	The Associated Costs Rate for any Lender lending from a Facility Office in a
Participating Member State will be the percentage notified by that Lender to the
Administrative Agent. This percentage will be certified by that Lender in its notice to the
Administrative Agent to be its reasonable determination of the cost (expressed as a percentage
of that Lender’s participation in all Loans made from that Facility Office) of complying with
the minimum reserve requirements of the European Central Bank in respect of loans made from
that Facility Office.
	 
	4.	 	The Associated Costs Rate for any Lender lending from a Facility Office in the United
Kingdom will be calculated by the Administrative Agent as follows:

	 	(a)	 	in relation to a Loan in Pounds Sterling:

	 	 	 	 	 	 	 

	 

	 	AB + C(B-D)+ E × 0.01
 

	 	 per
cent. per annum
	 	 
	 

	 	100 — (A + C)	 	 	 	 

	 	(b)	 	in relation to a Loan in any currency other than Pounds Sterling:

	 	 	 	 	 	 	 

	 

	 	E × 0.01
 

	 	 per
cent. per annum.
	 	 
	 

	 	300	 	 	 	 

	 	 	Where:

	 	A	 	is the percentage of Eligible Liabilities (assuming these to be in excess of any
stated minimum) which that Lender is from time to time required to maintain as an
interest free cash ratio deposit with the Bank of England to comply with cash ratio
requirements.
	 
	 	B	 	is the percentage rate of interest (excluding the Applicable Rate and the
Mandatory Cost and, if the Loan is an Unpaid Sum, the additional rate of interest
specified in Section 2.13(d)) payable for the relevant Interest Period on the Loan.
	 
	 	C	 	is the percentage (if any) of Eligible Liabilities which that Lender is required
from time to time to maintain as interest bearing Special Deposits with the Bank of
England.

 

 

	 	D	 	is the percentage rate per annum payable by the Bank of England to the
Administrative Agent on interest bearing Special Deposits.
	 
	 	E	 	is designed to compensate Lenders for amounts payable under the Fees Rules and is
calculated by the Administrative Agent as being the average of the most recent rates of
charge supplied by the Reference Banks to the Administrative Agent pursuant to paragraph
7 below and expressed in pounds per £1,000,000.

	5.	 	For the purposes of this Schedule:

	 	(a)	 	“Eligible Liabilities” and “Special Deposits” have the meanings given to them
from time to time under or pursuant to the Bank of England Act 1998 or (as may be
appropriate) by the Bank of England;
	 
	 	(b)	 	“Facility Office” means the office or offices notified by a Lender to the
Administrative Agent in writing on or before the date it becomes a Lender (or, following
that date, by not less than five Business Days’ written notice) as the office or offices
through which it will perform its obligations under this Agreement.
	 
	 	(c)	 	“Fees Rules” means the rules on periodic fees contained in the FSA Supervision
Manual or such other law or regulation as may be in force from time to time in respect
of the payment of fees for the acceptance of deposits;
	 
	 	(d)	 	“Fee Tariffs” means the fee tariffs specified in the Fees Rules under the
activity group A.1 Deposit acceptors (ignoring any minimum fee or zero rated fee
required pursuant to the Fees Rules but taking into account any applicable discount
rate);
	 
	 	(e)	 	“Participating Member State” means any member state of the European Union that
adopts or has adopted the euro as its lawful currency in accordance with legislation of
the European Union relating to economic and monetary union.
	 
	 	(f)	 	“Reference Banks” means, in relation to Mandatory Cost, the principal London
offices of JPMorgan Chase Bank, N.A.
	 
	 	(g)	 	“Tariff Base” has the meaning given to it in, and will be calculated in
accordance with, the Fees Rules.
	 
	 	(h)	 	“Unpaid Sum” means any sum due and payable but unpaid by any Borrower under the
Loan Documents.

	6.	 	In application of the above formulae, A, B, C and D will be included in the formulae
as percentages (i.e. 5 per cent. will be included in the formula as 5 and not as 0.05). A
negative result obtained by subtracting D from B shall be taken as zero. The resulting
figures shall be rounded to four decimal places.
	 
	7.	 	If requested by the Administrative Agent, each Reference Bank shall, as soon as
practicable after publication by the Financial Services Authority, supply to the
Administrative Agent, the rate of 

2

 

	 	 	charge payable by that Reference Bank to the Financial
Services Authority pursuant to the Fees Rules in respect of the relevant financial year of the
Financial Services Authority (calculated for this purpose by that Reference Bank as being the
average of the Fee Tariffs applicable to that Reference Bank for that financial year) and
expressed in pounds per £1,000,000 of the Tariff Base of that Reference Bank.

	8.	 	Each Lender shall supply any information required by the Administrative Agent for the
purpose of calculating its Associated Costs Rate. In particular, but without limitation, each
Lender shall supply the following information on or prior to the date on which it becomes a
Lender:

	 	(a)	 	the jurisdiction of its Facility Office; and
	 
	 	(b)	 	any other information that the Administrative Agent may reasonably require for such
purpose.

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

	9.	 	The percentages of each Lender for the purpose of A and C above and the rates of
charge of each Reference Bank for the purpose of E above shall be determined by the
Administrative Agent based upon the information supplied to it pursuant to paragraphs 7 and 8
above and on the assumption that, unless a Lender notifies the Administrative Agent to the
contrary, each Lender’s obligations in relation to cash ratio deposits and Special Deposits
are the same as those of a typical bank from its jurisdiction of incorporation with a Facility
Office in the same jurisdiction as its Facility Office.
	 
	10.	 	The Administrative Agent shall have no liability to any person if such determination
results in an Associated Costs Rate which over or under compensates any Lender and shall be
entitled to assume that the information provided by any Lender or Reference Bank pursuant to
paragraphs 3, 7 and 8 above is true and correct in all respects.
	 
	11.	 	The Administrative Agent shall distribute the additional amounts received as a result
of the Mandatory Cost to the Lenders on the basis of the Associated Costs Rate for each Lender
based on the information provided by each Lender and each Reference Bank pursuant to
paragraphs 3, 7 and 8 above.
	 
	12.	 	Any determination by the Administrative Agent pursuant to this Schedule in relation
to a formula, the Mandatory Cost, an Associated Costs Rate or any amount payable to a Lender
shall, in the absence of manifest error, be conclusive and binding on all parties hereto.
	 
	13.	 	The Administrative Agent may from time to time, after consultation with the Company
and the relevant Lenders, determine and notify to all parties hereto any amendments which are
required to be made to this Schedule 2.02 in order to comply with any change in law,
regulation or any requirements from time to time imposed by the Bank of England, the Financial
Services Authority or the European Central Bank (or, in any case, any other authority which
replaces all or any of its functions) and any such determination shall, in the absence of
manifest error, be conclusive and binding on all parties hereto.

3

 

SCHEDULE 2.06

EXISTING LETTERS OF CREDIT

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Letter of	 	 	 	 	 	Original	 	 	 	 
	Credit	 	 	 	 	 	Issuance	 	Current	 	Current
	Reference No.	 	Issuing Bank	 	Beneficiary	 	Date	 	Expiry	 	Amount
	CPCS-760006

	 	JPMorgan
 Chase
Bank, N.A.
	 	XL Specialty
Insurance Company
	 	5/29/09
	 	2/10/11
	 	$	3,200,000.00	 
	CPCS-760009

	 	JPMorgan
 Chase
Bank, N.A.
	 	Liberty Mutual
Insurance Company
	 	5/29/09
	 	2/10/11
	 	$	652,407.00	 
	CPCS-760012

	 	JPMorgan
 Chase
Bank, N.A.
	 	Argonaut Insurance
Group
	 	5/29/09
	 	2/10/11
	 	$	515,000.00	 
	CPCS-764392

	 	JPMorgan
 Chase
Bank, N.A.
	 	Old Republic
Insurance Company
	 	6/10/09
	 	2/10/11
	 	$	25,000,000.00	 
	CPCS-769104

	 	JPMorgan
 Chase
Bank, N.A.
	 	The Travelers
Indemnity Company
	 	6/18/09
	 	2/10/11
	 	$	37,150,000.00	 
	CPCS-772040

	 	JPMorgan
 Chase
Bank, N.A.
	 	Ace American
Insurance Company
	 	6/25/09
	 	2/10/11
	 	$	15,875,185.00	 
	CPCS-774185

	 	JPMorgan
 Chase
Bank, N.A.
	 	The Travelers
Indemnity Company
	 	6/30/09
	 	2/10/11
	 	$	200,000.00	 
	S300333000

	 	Fifth Third
 Bank,
an Ohio banking

corporation
	 	The Travelers
Indemnity Company
	 	10/22/02
	 	10/22/10
	 	$	11,950,000.00	 
	S300369000

	 	Fifth Third
 Bank,
an Ohio banking

corporation
	 	National Union Fire
Insurance (and
others)
	 	10/10/02
	 	9/10/10
	 	$	2,691,000.00	 

 

 

EXHIBIT A

ASSIGNMENT AND ASSUMPTION

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

     For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the
Assignee, and the Assignee hereby irrevocably purchases and assumes from the Assignor, subject to
and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the
Effective Date inserted by the Administrative Agent as contemplated below (i) all of the Assignor’s
rights and obligations in its capacity as a Lender under the Credit Agreement and any other
documents or instruments delivered pursuant thereto to the extent related to the amount and
percentage interest identified below of all of such outstanding rights and obligations of the
Assignor under the respective facilities identified below (including any letters of credit,
guarantees, and swingline loans included in such facilities) and (ii) to the extent permitted to be
assigned under applicable law, all claims, suits, causes of action and any other right of the
Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under
or in connection with the Credit Agreement, any other documents or instruments delivered pursuant
thereto or the loan transactions governed thereby or in any way based on or related to any of the
foregoing, including contract claims, tort claims, malpractice claims, statutory claims and all
other claims at law or in equity related to the rights and obligations sold and assigned pursuant
to clause (i) above (the rights and obligations sold and assigned pursuant to clauses (i) and (ii)
above being referred to herein collectively as the “Assigned Interest”). Such sale and
assignment is without recourse to the Assignor and, except as expressly provided in this Assignment
and Assumption, without representation or warranty by the Assignor.

	 	 	 	 	 

	1.

	 	Assignor:	 	

 
	 
	 	 	 	 
 
	2.

	 	Assignee:	 	 
	 

	 	 	 	 
[and is an Affiliate/Approved Fund of [identify Lender]1]
	 
	 	 	 	 
	3.

	 	Borrowers:
	 	Masco Corporation and Masco Europe S.À.R.L.
 
 
	 
	 	 	 	 
	4.

	 	Administrative Agent:
	 	JPMorgan Chase Bank, N.A., as the administrative
agent under the Credit Agreement
	 
	 	 	 	 
	5.

	 	Credit Agreement:
	 	The Credit Agreement dated as of June 21, 2010
among Masco Corporation, Masco Europe S.À.R.L, the
Lenders parties thereto, JPMorgan Chase Bank, N.A.,
as Administrative Agent, and the other agents
parties thereto

 

			
	1	 	Select as applicable.

2

 

6. Assigned Interest:

	 	 	 	 	 	 	 
	Aggregate Amount of	 	Amount of	 	Percentage Assigned
	Commitment/Loans for all	 	Commitment/	 	of
	Lenders	 	Loans Assigned	 	Commitment/Loans2
	$

	 	$
	 	 	%	 
	$

	 	$
	 	 	%	 
	$

	 	$
	 	 	%	 

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

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

	 	 	 	 	 
	 	ASSIGNOR

[NAME OF ASSIGNOR]

 	 
	 	By:  	 	 
	 	 	Title: 	 
	 	 	 	 
	 
	 	ASSIGNEE

[NAME OF ASSIGNEE]

 	 
	 	By:  	 	 
	 	 	Title: 	 
	 	 	 	 

	 	 	 	 	 
	 	Consented to and Accepted:

JPMORGAN CHASE BANK, N.A., as Administrative Agent and Issuing Bank

 	 
	 	By:  	 	 
	 	 	Title: 	 
	 	 	 	 
	 
	 	[Consented to:]3

MASCO CORPORATION

 	 
	 	By:  	 	 
	 	 	Title: 	 
	 

 

			
	2	 	Set forth, so at least 9 decimals, as a
percentage of the Commitment/Loans of all Lenders thereunder.
	 
	3	 	To be added only if the consent of the
Company is required by the terms of the Credit Agreement.

3

 

ANNEX I

STANDARD TERMS AND CONDITIONS FOR

ASSIGNMENT AND ASSUMPTION

     1. Representations and Warranties.

     1.1 Assignor. The Assignor (a) represents and warrants that (i) it is the legal and
beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any
lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken
all action necessary, to execute and deliver this Assignment and Assumption and to consummate the
transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any
statements, warranties or representations made in or in connection with the Credit Agreement or any
other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness,
sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial
condition of the Company, any of its Subsidiaries or Affiliates or any other Person obligated in
respect of any Loan Document or (iv) the performance or observance by the Company, any of its
Subsidiaries or Affiliates or any other Person of any of their respective obligations under any
Loan Document.

     1.2. Assignee. The Assignee (a) represents and warrants that (i) it has full power
and authority, and has taken all action necessary, to execute and deliver this Assignment and
Assumption and to consummate the transactions contemplated hereby and to become a Lender under the
Credit Agreement, (ii) it satisfies the requirements, if any, specified in the Credit Agreement
that are required to be satisfied by it in order to acquire the Assigned Interest and become a
Lender, (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit
Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall have the
obligations of a Lender thereunder, (iv) it has received a copy of the Credit Agreement, together
with copies of the most recent financial statements delivered pursuant to Section 5.01 thereof, as
applicable, and such other documents and information as it has deemed appropriate to make its own
credit analysis and decision to enter into this Assignment and Assumption and to purchase the
Assigned Interest on the basis of which it has made such analysis and decision independently and
without reliance on the Administrative Agent or any other Lender, and (v) if it is a Foreign
Lender, attached to the Assignment and Assumption is any documentation required to be delivered by
it pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee; and
(b) agrees that (i) it will, independently and without reliance on the Administrative Agent, the
Assignor or any other Lender, and based on such documents and information as it shall deem
appropriate at the time, continue to make its own credit decisions in taking or not taking action
under the Loan Documents, and (ii) it will perform in accordance with their terms all of the
obligations which by the terms of the Loan Documents are required to be performed by it as a
Lender.

     2. Payments. From and after the Effective Date, the Administrative Agent shall make
all payments in respect of the Assigned Interest (including payments of principal, interest, fees
and other amounts) to the Assignor for amounts which have accrued to but excluding the Effective
Date and to the Assignee for amounts which have accrued from and after the Effective Date.

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

 

 

EXHIBIT B-1

OPINIONS OF U.S. COUNSEL FOR THE BORROWERS

[ATTACHED]

 

 

June 21, 2010

To JPMorgan Chase Bank, N.A., as Administrative Agent

     and each of the Lenders listed on the

     signature pages of the Credit Agreement

     referred to below

Ladies and Gentlemen:

     We have acted as special counsel for Masco Corporation, a Delaware corporation (the
“Company”), and Masco Europe S.à.r.l., a wholly-owned Subsidiary of the Company organized as a
société à responsabilité limitée under the laws of the Grand Duchy of Luxembourg (“Masco Europe,”
and together with the Company, the “Loan Parties”), in connection with the Credit Agreement dated
as of June 21, 2010 (the “Credit Agreement”) among the Company and Masco Europe, as the Borrowers,
the lenders listed on the signature pages thereof (the “Lenders”), Citibank, N.A., as Syndication
Agent, Royal Bank of Canada, Wells Fargo Bank, N.A., and Deutsche Bank AG, New York branch, as
Co-Documentation Agents, and JPMorgan Chase Bank, N.A., as Administrative Agent (the
“Administrative Agent”). Terms used (but not defined) herein have the meanings assigned to them in
the Credit Agreement.

     We have reviewed executed copies of:

     (a) the Credit Agreement; and

     (b) the Promissory Notes issued on the date hereof by each Loan Party (the “Notes,”
and together with the Credit Agreement, the “Credit Documents”).

     We have also examined originals or copies, certified or otherwise identified to our
satisfaction, of such documents, corporate records and certificates of public officials and
officers of the Company and have conducted such other investigations of fact and law as we have
deemed necessary or advisable for purposes of this opinion. In addition, we have relied as to
certain matters of fact upon the representations of the Company contained in the Credit Documents.

     Based on the foregoing, and subject to the assumptions and qualifications set forth below, we
are of the opinion that:

 

 

     1. The execution, delivery and performance by each Loan Party of each Credit Document to which
it is a party require no action by or in respect of, or filing with, any governmental body, agency
or official under United States federal or New York State law and do not contravene, or constitute
a default under, any provision of applicable United States federal or New York State law or
regulation (including, without limitation, Regulation U or X of the Board of Governors of the
Federal Reserve System), in each case that in our experience is normally applicable to general
business corporations in relation to transactions of the type contemplated by the Credit Documents.

     2. The Credit Agreement constitutes a valid and binding agreement of each Loan Party and each
Note executed by such Loan Party constitutes a valid and binding obligation of such Loan Party, in
each case enforceable against such Loan Party in accordance with its terms.

     3. The Company is not required to be registered under the Investment Company Act of 1940, as
amended.

     The foregoing opinions are subject to the following assumptions and qualifications:

     (1) Our opinion in paragraph 2 above is subject to applicable bankruptcy, insolvency
and similar laws affecting creditors’ rights generally, concepts of reasonableness and
equitable principles of general applicability, and may be subject to possible judicial
actions giving effect to governmental actions or foreign laws affecting creditors’ rights.

     (2) We express no opinion as to (i) the effect of fraudulent conveyance, fraudulent
transfer or similar provisions of applicable law on the conclusions expressed above or
(ii) any provision of any Credit Document that purports to avoid the effect of fraudulent
conveyance, fraudulent transfer or similar provisions of applicable law by limiting the
amount of any Loan Party’s obligations.

     (3) We express no opinion as to any provision in the Credit Documents that purports
to indemnify any Person for its own gross negligence or willful misconduct.

     (4) We express no opinion as to provisions in the Credit Documents that purport to
create rights of set-off in favor of participants or that provide for set-off to be made
otherwise than in accordance with applicable laws. 

2

 

     (5) We express no opinion as to provisions in the Credit Documents that purport to
waive objections to venue, claims that a particular jurisdiction is an inconvenient forum
or the like. 

     (6) We express no opinion as to whether a United States federal court would have
subject-matter or personal jurisdiction over a controversy arising under the Credit
Documents.

     (7) Except as expressly set forth in paragraph 3 above, we express no opinion as to
the United States federal or any state securities laws.

     (8) The enforceability in the United States of Section 8.09(d) of the Credit
Agreement is subject to the limitations set forth in the United States Foreign Sovereign
Immunities Act of 1976, as amended.

     (9) We express no opinion as to provisions in the Credit Documents which subject the
Loan Parties to any claim for deficiency resulting from a judgment being rendered in a
currency other than the currency called for in the Credit Documents, and we express no
opinion as to (i) whether a New York State or United States federal court would render or
enforce a judgment in a currency other than U.S. Dollars or (ii) the exchange rate that
such a court would use in rendering a judgment in U.S. Dollars in respect of an obligation
in any other currency.

     (10) We have assumed that (i) each Loan Party is validly existing and, to the extent
applicable, in good standing under the laws of its jurisdiction of organization, (ii) each
Loan Party has duly executed and delivered each Credit Document to which it is a party,
(iii) the execution, delivery and performance by each Loan Party of each Credit Document
to which it is a party are within its corporate powers, have been duly authorized by all
necessary corporate action on the part of such Loan Party and do not contravene the
articles or certificate of incorporation or bylaws or other constitutive documents of such
Loan Party and (iv) the execution, delivery and performance by each Loan Party of each
Credit Document to which it is a party do not contravene, or constitute a default under,
any law, rule or regulation (other than United States federal and New York State laws and
regulations, in each case that in our experience are normally applicable to general
business corporations in relation to transactions of the type contemplated by the Credit
Documents) or any order, injunction, decree, agreement, contract or instrument to which it
is a party or by which it is bound.

3

 

     (11) We express no opinion on the effectiveness of any service of process made other
than in accordance with applicable law.

     (12) We express no opinion as to the effect (if any) of any law of any jurisdiction
(except the State of New York) in which any Lender is located which may limit the rate of
interest that such Lender may charge or collect.

     (13) As to various provisions in the Credit Documents that grant the Administrative
Agent, the Issuing Banks or the Lenders certain rights to make determinations or take
actions in their discretion, we assume that such discretion will be exercised in good
faith and in a commercially reasonable manner.

     (14) With respect to our opinion in paragraph 1 above as it relates to Regulation U
and X of the Board of Governors of the Federal Reserve System, we have assumed the
accuracy of, and compliance with, the representations, warranties and covenants of the
Loan Parties in the Credit Agreement. Such opinion is based solely on the foregoing
assumptions and we have made no independent investigation for purposes of this opinion
with respect to the use by the Company of the proceeds from any Loans.

     The foregoing opinion is limited to the laws of the State of New York and the federal laws of
the United States of America.

     This opinion is delivered to you in connection with the above matter. This opinion may not be
relied upon by you for any other purpose or relied upon by any other person without our prior
written consent.

Very truly yours,

Davis Polk  & Wardwell LLP

4

 

June 21, 2010

To JPMorgan Chase Bank, N.A., as Administrative Agent

     and each of the Lenders listed on the

     signature pages of the Credit Agreement

     referred to below

Dear Ladies and Gentlemen:

          I am Senior Vice President-General Counsel of Masco Corporation (the “Company”) and in
that capacity have responsibility for the general legal affairs of the Company, Masco Europe
S.à.r.l., a wholly-owned Subsidiary of the Company organized as a société à responsabilité limitée
under the laws of the Grand Duchy of Luxembourg, having its registered office at 22, Parc
d’activité Syrdall, L-5365 Münsbach and registered with the Luxembourg Register of Commerce and
Companies under number B68.104 (“Masco Europe”) and the other Subsidiaries of the Company.
I, or members of the Company’s legal staff, have reviewed:

          (a) the Credit Agreement dated as of June 21, 2010 (the “Credit Agreement”) among the
Company and Masco Europe, as the Borrowers, the Lenders listed on the signature pages thereof,
Citibank, N.A., as Syndication Agent, Royal Bank of Canada, Wells Fargo Bank, N.A., and Deutsche
Bank AG New York Branch, as Co-Documentation Agents, and JPMorgan Chase Bank, N.A., as
Administrative Agent; and

          (b) the Promissory Notes issued on the date hereof by each of the Company and Masco
Europe (the “Notes”).

          Terms defined in the Credit Agreement are used herein as therein defined. This opinion is
being rendered to you pursuant to Section 4.01(b) of the Credit Agreement.

          I, or members of the Company’s legal staff, have examined originals or copies, certified or
otherwise, identified to my or their satisfaction, of such documents, corporate records,
certificates of public officials and other instruments and have conducted, or have caused to be
conducted, such other investigations of fact and law as I or such members have deemed necessary or
advisable for purposes of this opinion.

          Upon the basis of the foregoing, I am of the opinion that:

          1. The Company is a corporation duly incorporated, validly existing and in good standing
under the laws of Delaware, and has all corporate powers and all material governmental licenses,
authorizations, consents and approvals required to carry on its businesses substantially as now
conducted.

 

 

JPMorgan Chase Bank, N.A., as Administrative Agent

and each of the Lenders listed on the

signature pages of the Credit Agreement

June 21, 2010

Page 2

          2. The Company has duly executed and delivered the Credit Agreement and each Note of the
Company.

          3. The execution, delivery and performance by the Company of the Credit Agreement and the
Notes of the Company are within the Company’s corporate powers and authority, have been duly
authorized by all necessary corporate action of the Company and do not contravene, or constitute a
default under, any provision of the certificate of incorporation or by-laws of the Company.

          4. The execution, delivery and performance by each Borrower of the Credit Agreement and its
respective Notes will not contravene, or result in a default under, any material agreement
(including any loan or credit agreement or indenture), judgment, injunction, order, decree or other
instrument known to me to be binding upon such Borrower or result in or require the creation or
imposition of any Lien on any asset of the Company or any of its Subsidiaries under any such
agreement or instrument.

          5. There is no action, suit or proceeding pending against, or to the best of my knowledge
threatened against or affecting, the Company or any of its Subsidiaries before any court or
arbitrator or any governmental body, agency or official which, in my reasonable opinion, has
resulted in or is likely to result in a Material Adverse Change or which in any manner draws into
question the validity of the Credit Agreement or the Notes.

          This opinion letter is delivered to you in connection with the above matter. This opinion
letter may not be relied upon by you for any other purpose or relied upon by any other person
without my prior written consent; provided that assignees that become Lenders party to the Credit
Agreement pursuant to Section 8.04(b) thereof may rely on this opinion as if addressed to them on
the date hereof, on the condition and understanding that any such reliance by a future assignee
must be actual and reasonable under the circumstances existing at the time of the assignment,
including any changes in law or facts.

Very truly yours,

Gregory D. Wittrock

Senior Vice President-

General Counsel

 

 

EXHIBIT B-2

OPINION OF COUNSEL FOR THE FOREIGN SUBSIDIARY BORROWER

[ATTACHED]

 

 

	 	 	 

	Avocats

	 	Linklaters LLP
	 

	 	35 Avenue John-F. Kennedy
	 

	 	P.O. Box 1107
	 

	 	L-1011 Luxembourg
	 

	 	Telephone (352) 26 08 1
	 

	 	Facsimile (352) 26 08 88
	 

	 	janine.biver@linklaters.com

To the Lenders and the Administrative Agent

referred to below

c/o JP Morgan Chase Bank, NA, as

Administrative Agent

21 June 2010

Dear Sirs,

MASCO EUROPE S.A.R.L. – US $1,250,000,000 Credit Agreement

	1	 	Introduction
	 
	 	 	We have acted as counsel to Masco Europe S.à.r.l., a corporation organized under the
laws of the Grand-Duchy of Luxembourg, having its registered office at 22, Parc d’Activité
Syrdall, L-5365 Munsbach and registered with the Luxembourg Register of Commerce and
Companies under the number B68104 (the “Borrower”) in connection with the Credit Agreement
dated as of 21 June 2010 (the “Credit Agreement”) among Masco Corporation (“Masco”), the
Borrower, the banks party thereto as lenders (the “Lenders”), JP Morgan Chase Bank, NA as
Administrative Agent, and the Lenders from time to time party thereto. Terms defined in the
Credit Agreement are used herein as therein defined. This opinion is being rendered to you
pursuant to Section 4.01 (c) of the Credit Agreement.
	 
	 	 	In this opinion:
	 
	 	 	“Notes” means any promissory notes of the Borrower evidencing the obligations of the Borrower
under the Credit Agreement.
	 
	2	 	Luxembourg law
	 
	 	 	This opinion speaks as of its date and is confined to and is solely given on the basis
of the laws of Luxembourg as applied by the Luxembourg Courts, published and presently in
effect. We undertake no responsibility to notify any addressee of this opinion of any change
in the laws of Luxembourg or their construction or application after the date of this
opinion.
	 
	 	 	In this opinion, Luxembourg legal concepts are expressed in English terms and not in their
original French terms. The concepts concerned may not be identical to the concepts described
by the same English terms as they exist under the laws of other jurisdictions. This opinion
may, therefore, only be relied upon under the express condition that it is given under
Luxembourg law and case law and

This communication is confidential and may be privileged or otherwise protected by work product immunity.

Linklaters LLP is a limited liability partnership registered in England and Wales with registered number OC326345. It is regulated by the Law Society of England and Wales. The term partner
in relation to Linklaters
LLP is used to refer to a member of Linklaters LLP or an employee or consultant of Linklaters LLP or any of its affiliated firms or entities with equivalent standing and qualifications. A list of the names of the
members of Linklaters LLP together with a list of those non-members who are designated as partners and their professional qualifications is open to inspection at its registered office, One Silk Street, London
EC2Y 8HQ, England or on www.linklaters.com and such persons are either solicitors, registered foreign lawyers or European lawyers.

Please refer to www.linklaters.com/regulation for important information on our regulatory position.

 

 

	 	 	that any issues of interpretation arising hereunder will be governed by Luxembourg law and be
brought before a Luxembourg Court.
	 
	 	 	We express no opinion as to any laws other than the laws of Luxembourg and we have assumed
that there is nothing in any other law that affects our opinion.
	 
	3	 	Scope of inquiry
	 
	 	 	For the purpose of this opinion, we have examined the following documents:

	 	3.1	 	a copy of the executed Credit Agreement and the Notes dated as of 21 June 2010.
	 
	 	3.2	 	Certified coordinated Articles of Incorporation of the Borrower dated 25
March 2004 amended by the extraordinary general meeting of the shareholders held before
a public notary on 18 June 2004 (the “Articles”).
	 
	 	3.3	 	An excerpt from the Luxembourg Register of Commerce and Companies concerning
the Borrower dated 16 June 2010 (the “Excerpt”).
	 
	 	3.4	 	A copy of the written resolutions of the managers of the Borrower dated 14
June 2010 (the “Resolutions”).
	 
	 	3.5	 	A certificate signed by a manager of the Company on behalf of the board of
managers of the borrower dated 21 June 2010 (the “Company’s Certificate”).
	 
	 	3.6	 	A non-bankruptcy certificate pertaining to the Borrower, issued by the
Clerk’s office of the Luxembourg District Court on 17 June 2010 (the “Non-Bankruptcy
Certificate”).

	4	 	Assumptions
	 
	 	 	For the purpose of this opinion, we have made the following assumptions:

	 	4.1	 	All copy and draft documents conform to the originals and all originals are
genuine and complete.
	 
	 	4.2	 	Each signature on the originals is the genuine signature of the individual
concerned.
	 
	 	4.3	 	The Credit Agreement constitutes valid and binding obligations of the
Borrower under the laws of the State of New York applicable thereto.
	 
	 	4.4	 	The Articles have not been amended and remain in full force and effect
without modification since the date certified by public notary referred to above.
	 
	 	4.5	 	The Excerpt remains in full force and effect without modification.
	 
	 	4.6	 	The Resolutions are true records of the proceedings described in them and
remain in full force and effect without modification.
	 
	 	4.7	 	The Credit Agreement has been or will be duly executed in or substantially in
the form of the final draft examined by us.
	 
	 	4.8	 	The choice of the laws of the State of New York as the governing law of the
Credit Agreement has been made in good faith and will be regarded as valid and binding
as a matter of such laws, which will be upheld by the courts of the State of New York as
a matter of the relevant law and all other relevant laws (other than the laws of
Luxembourg).

Page 2 of 3

 

	 	4.9	 	The Credit Agreement has the same meaning and effect under the laws of the
State of New York by which it is expressed to be governed as it would have if it was
interpreted under Luxembourg law by a Luxembourg court and there are no provisions of
this law which would render this opinion incorrect in any respect.
	 
	 	4.10	 	The Borrower has its principal establishment and its centre of main
interests in Luxembourg.
	 
	 	4.11	 	The Credit Agreement, when signed by all the parties, will be valid, binding
and enforceable on each party (other than the Borrower) under the laws of the State of
New York by which it is expressed to be governed.

	5	 	Opinion
	 
	 	 	Based on the documents referred to and the assumptions in paragraph 4 and subject to the
qualifications in paragraph 6 and to any matters not disclosed to us, we are of the following
opinion:

	 	5.1	 	The Borrower has been duly incorporated and is existing as a “société à
responsabilité limitée” under the laws of the Grand-Duchy of Luxembourg.
	 
	 	5.2	 	The Borrower has the corporate power to enter into, execute and deliver the
Credit Agreement and the Notes and to perform its obligations thereunder. The Credit
Agreement and the Notes have been duly executed and delivered by the Borrower.
	 
	 	5.3	 	Assuming that the Credit Agreement and the Notes are valid, binding and
enforceable under the laws of the State of New York, there is no reason so far as
Luxembourg law is concerned why, in any action in the Luxembourg Courts where the laws
of the State of New York would be pleaded and proved, the obligations of the Company
under the Credit Agreement and the Notes would not be valid, binding and enforceable
against the Company.
	 
	 	5.4	 	The execution, delivery and performance by the Borrower of the Credit
Agreement and the Notes have been duly authorised by all necessary corporate action of
the Borrower and do not contravene, or constitute a default under any provision of
applicable law or regulation or of the Articles of the Borrower.
	 
	 	5.5	 	Under Luxembourg law, there are no governmental or regulatory filings,
recording, registration, notice, consents, approvals or authorisations required by the
Borrower for the entering into, execution and delivery of the Credit Agreement and the
Notes or for the performance of its obligations thereunder.
	 
	 	5.6	 	The execution, delivery and performance of the Credit Agreement and the Notes
do not violate Luxembourg law.
	 
	 	5.7	 	The courts of Luxembourg will recognise and give effect to the jurisdiction
clause contained in Section 8.09 of the Credit Agreement, which are valid and binding on
the Borrower.
	 
	 	5.8	 	Any final civil or commercial judgment rendered by any State or Federal Court
of competent jurisdiction located in the State of New York or any appellate court from
any of the foregoing in an action to enforce the obligations of the Borrower under the
Credit Agreement will be enforceable in Luxembourg subject to Luxembourg ordinary rules
on enforcement (‘’exequatur’’) of foreign judgments. Pursuant to such rules, an
enforceable judgment rendered by any US court based on contract would not directly be
enforceable in Luxembourg. However, a party who obtains a judgment in a US court may
initiate

Page 3 of 3

 

enforcement proceedings in Luxembourg (‘’exequatur’’), by requesting enforcement of
the US judgment before the District Court (‘’Tribunal d’Arrondissement’’), pursuant to
Section 678 of the New Luxembourg Code of Civil Procedure. The District Court will
authorize the enforcement in Luxembourg of the US judgment if it is satisfied that the
following conditions are met:

- the judgment rendered by any State or Federal Court of competent
jurisdiction located in the State of New York or any appellate court from any
of the foregoing is enforceable (‘’exécutoire’’) in the State of New York
respectively;

- the jurisdiction of the State or Federal Court of the State of New York or
any appellate court from any of the foregoing is founded according to
Luxembourg private international law rules and to the applicable domestic US
jurisdiction rules;

- the State or Federal Court of the State of New York or any appellate court
from any of the foregoing has applied to the dispute the substantive law which
would have been applied by Luxembourg courts;

- the principles of natural justice have been complied with; and

- the judgment rendered by any State or Federal Court of competent
jurisdiction located in the State of New York or any appellate court from any
of the foregoing does not contravene the Luxembourg international public
policy.

In practice, the courts of Luxembourg now tend not to review the merits of the
foreign judgment, although there is no clear statutory prohibition of such
review.

	 	5.9	 	The courts of Luxembourg will recognise and give effect to the choice of the
laws of the State of New York as the governing law of the Credit Agreement and the
Notes, which is valid and binding on the Borrower.
	 
	 	5.10	 	No stamp duty or registration or similar tax is payable under Luxembourg law
in connection with the parties entering into the Credit Agreement or the Borrower
executing the Notes, save that registration may be ordered and a registration fee might
become payable if and when the Credit Agreement were adduced as evidence in a Luxembourg
court or submitted to another Luxembourg public authority (“autorité constituée”).
	 
	 	5.11	 	It is not necessary under the laws of Luxembourg in order to enable the
Administrative Agent or the Lenders to enforce their rights under the Credit Agreement
or any Notes to which the Borrower is a party against the Borrower that the
Administrative Agent or the Lenders should be licensed, qualified or otherwise entitled
to carry on business in Luxembourg. By reason of the execution, delivery and performance
of the Credit Agreement and the Notes to which it is a party, neither the Administrative
Agent nor any Lender will be deemed to be resident, domiciled or carrying out business
in Luxembourg or the subject of taxation under the laws of Luxembourg.
	 
	 	5.12	 	Neither the Borrower nor any of its properties or assets have any immunity
from the jurisdiction of any court or from legal process under the laws of Luxembourg.
	 
	 	5.13	 	The Borrower is not required by the existing laws of Luxembourg to make any
deduction or withholding from any amount due under the Credit Agreement or the Notes.

Page 4 of 3

 

	6	 	Qualifications
	 
	 	 	This opinion is subject to the following qualifications:

	 	6.1	 	This opinion is subject to all limitations arising from bankruptcy,
insolvency, liquidation, moratorium, reorganisation and other laws of general
application relating to or affecting the rights of creditors.
	 
	 	6.2	 	In Luxembourg, remedies such as specific performance and injunction may not
be available.
	 
	 	6.3	 	In Luxembourg, enforcement may be limited by general principles of good
faith.
	 
	 	6.4	 	Under Luxembourg law, even if stated as irrevocable, a power of attorney may
be revoked by the principal at any time (article 2004 Luxembourg civil Code), but such
the revocation may then lead to damages, but no specific performance of the
(irrevocable) mandate (that has been revoked) would be available.
	 
	 	6.5	 	Claims may become barred under the statutes of limitation or may be or become
subject to defences of set-off and counterclaim.
	 
	 	6.6	 	Where obligations are to be performed in a jurisdiction outside Luxembourg,
they may not be enforceable in Luxembourg to the extent that performance would be
illegal under the laws of that other jurisdiction.
	 
	 	6.7	 	Any obligation to pay a sum of money in a currency other than the euro will
be enforceable in Luxembourg in terms of euro only. Monetary judgments may be expressed
in a foreign currency or its euro equivalent at the time of judgment or payment.
	 
	 	6.8	 	Obligations to make payments that may be regarded as penalties might not be
enforceable under Luxembourg law.
	 
	 	6.9	 	The admissibility in evidence of the Credit Agreement and/or the Notes before
a Luxembourg court or another Luxembourg public authority (“autorité constituée”) may
require a complete or partial translation of such document into French or German.
	 
	 	6.10	 	Contractual provisions allowing the service of process against the Borrower
could not prevent a Luxembourg court from holding as valid the service of process
against the Borrower in accordance with applicable laws at the registered office of the
Borrower.
	 
	 	6.11	 	Luxembourg courts will not necessarily award costs and disbursements in
litigation in accordance with contractual provisions in this regard.
	 
	 	6.12	 	A certificate, determination, calculation or designation of any party to the
Credit Agreement as to any matter provided therein might be held by a Luxembourg court
not to be conclusive, final and binding if, for example, it could be shown to have an
unreasonable or arbitrary basis or in the event of manifest error.
	 
	 	6.13	 	Any term of the Credit Agreement may be amended orally or conduct by the
parties thereto, notwithstanding any provision to the contrary contained therein.
	 
	 	6.14	 	We reserve our opinion as to the extent to which a Luxembourg court would,
in the event of any relevant illegality, sever the offending provisions and enforce the
remainder of the transaction of which such provisions form a part, notwithstanding any
express contractual provisions in this regard.

Page 5 of 3

 

	 	6.15	 	Our opinion that the Borrower is existing is based on the Excerpt. It should
be noted that a search in such Luxembourg Register of Commerce and Companies is not
capable of revealing conclusively whether or not a winding up petition has been
presented because notice of a winding up order or a winding up resolution passed may not
be filed immediately with the Luxembourg Register of Commerce and Companies.
	 
	 	6.16	 	We have not been instructed to review any tax matters (other than those
matters expressly mentioned in this opinion) and any reference to Luxembourg law herein
shall exclude the laws relating to such matters.
	 
	 	6.17	 	We express no opinion as to the accuracy of any warranties and
representations given or made by the Borrower (expressly or impliedly), save and insofar
as the matters warranted are the subject matter of specific opinions in this letter.

	7	 	Reliance

	 	7.1	 	This opinion is solely for your benefit and solely for the purpose of the
Credit Agreement and may only be relied upon by the addressees to this opinion.
	 
	 	7.2	 	A copy of this opinion may be provided for the purpose of information only
to:

	 	(a)	 	your professional advisers, auditors and regulators; and
	 
	 	(b)	 	financial institutions that may potentially become Lenders (as
defined in the Credit Agreement),

	 	 	 	but only on the basis that it will not be relied upon by any such person and no such
person may provide a copy of this opinion to any other person.
	 
	 	7.3	 	Except as provided in paragraphs 7.1 and 7.2 above or where required by any
relevant law or regulation, this opinion is not to be transmitted to anyone nor is it to
be relied upon by anyone or for any other purpose or quoted or referred to in any public
document or filed with anyone without our written consent. We accept no responsibility
or legal liability to any person other than the parties referred to in paragraph 7.1
above in relation to the contents of this opinion.
	 
	 	7.4	 	Without prejudice to paragraphs 7.1, 7.2 and 7.3, in case of an assignment
permitted under Section 8.04(b) of the Credit Agreement and upon the written request of
an assignee, we may issue a reliance letter authorising the assignee to rely on this
opinion, it being understood that our written consent to rely will not be unreasonably
withheld.

Yours faithfully

Linklaters LLP

by

Janine BIVER

Page 6 of 3

 

EXHIBIT C

FORM OF INCREASING LENDER SUPPLEMENT

     INCREASING LENDER SUPPLEMENT, dated                     , 20___(this “Supplement”), by and
among each of the signatories hereto, to the Credit Agreement, dated as of June 21, 2010 (as
amended, restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”), among Masco Corporation (the “Company”), Masco Europe S.À.R.L., the
Lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the
“Administrative Agent”) and the other agents parties thereto.

W I T N E S S E T H

          WHEREAS, pursuant to Section 2.20 of the Credit Agreement, the Company has the right, subject
to the terms and conditions thereof, to effectuate from time to time an increase in the Aggregate
Commitment and/or one or more tranches of Incremental Term Loans under the Credit Agreement by
requesting one or more Lenders to increase the amount of its Commitment and/or to participate in
such a tranche;

          WHEREAS, the Company has given notice to the Administrative Agent of its intention to
[increase the Aggregate Commitment]
[and] [enter into a tranche of Incremental
Term Loans] pursuant to such Section 2.20; and

          WHEREAS, pursuant to Section 2.20 of the Credit Agreement, the undersigned Increasing Lender
now desires to [increase the amount of its Commitment]
[and] [participate in a tranche of
Incremental Term Loans] under the Credit Agreement by executing and delivering to
the Company and the Administrative Agent this Supplement;

          NOW, THEREFORE, each of the parties hereto hereby agrees as follows:

          1. The undersigned Increasing Lender agrees, subject to the terms and conditions of the
Credit Agreement, that on the date of this Supplement it shall [have its
Commitment increased by $[                    ], thereby making the
aggregate amount of its total Commitments equal to
$[                    ]] [and]
[participate in a tranche of Incremental Term Loans with a commitment amount
equal to $[___] with respect thereto].

          2. The Company hereby represents and warrants that no Default or Event of Default has
occurred and is continuing on and as of the date hereof.

          3. Terms defined in the Credit Agreement shall have their defined meanings when used herein.

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

          5. This Supplement may be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which when so executed shall be deemed to be an original
and all of which taken together shall constitute one and the same document.

 

 

     IN WITNESS WHEREOF, each of the undersigned has caused this Supplement to be executed and
delivered by a duly authorized signatory on the date first above written.

	 	 	 	 	 
	 	[INSERT NAME OF INCREASING LENDER]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Accepted and agreed to as of the date first written above:

	 	 	 	 	 
	 	MASCO CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Acknowledged as of the date first written above:

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A.

as Administrative Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

2

 

EXHIBIT D

FORM OF AUGMENTING LENDER SUPPLEMENT

          AUGMENTING
LENDER SUPPLEMENT, dated                     , 20___ (this “Supplement”), to the
Credit Agreement, dated as of June 21, 2010 (as amended, restated, supplemented or otherwise
modified from time to time, the “Credit Agreement”), among Masco Corporation (the
“Company”), Masco Europe S.À.R.L., the Lenders party thereto, JPMorgan Chase Bank, N.A., as
administrative agent (in such capacity, the “Administrative Agent”) and the other agents
parties thereto.

W I T N E S S E T H

          WHEREAS, the Credit Agreement provides in Section 2.20 thereof that any bank, financial
institution or other entity may [extend Commitments]
[and] [participate in tranches of Incremental
Term Loans] under the Credit Agreement subject to the approval of the Company and
the Administrative Agent, by executing and delivering to the Company and the Administrative Agent a
supplement to the Credit Agreement in substantially the form of this Supplement; and

          WHEREAS, the undersigned Augmenting Lender was not an original party to the Credit Agreement
but now desires to become a party thereto;

          NOW, THEREFORE, each of the parties hereto hereby agrees as follows:

          1. The undersigned Augmenting Lender agrees to be bound by the provisions of the Credit
Agreement and agrees that it shall, on the date of this Supplement, become a Lender for all
purposes of the Credit Agreement to the same extent as if originally a party thereto, with a
[Commitment with respect to Revolving Loans of
$[                    ]] [and]
[a commitment with respect to Incremental Term Loans of
$[                    ]].

          2. The undersigned Augmenting Lender (a) represents and warrants that it is legally
authorized to enter into this Supplement; (b) confirms that it has received a copy of the Credit
Agreement, together with copies of the most recent financial statements delivered pursuant to
Section 5.01 thereof, as applicable, and has reviewed such other documents and information as it
has deemed appropriate to make its own credit analysis and decision to enter into this Supplement;
(c) agrees that it will, independently and without reliance upon the Administrative Agent or any
other Lender and based on such documents and information as it shall deem appropriate at the time,
continue to make its own credit decisions in taking or not taking action under the Credit Agreement
or any other instrument or document furnished pursuant hereto or thereto; (d) appoints and
authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such
powers and discretion under the Credit Agreement or any other instrument or document furnished
pursuant hereto or thereto as are delegated to the Administrative Agent by the terms thereof,
together with such powers as are incidental thereto; and (e) agrees that it will be bound by the
provisions of the Credit Agreement and will perform in accordance with its terms all the
obligations which by the terms of the Credit Agreement are required to be performed by it as a
Lender.

          3. The undersigned’s address for notices for the purposes of the Credit Agreement is as
follows:

               [                    ]

 

 

          4. The Company hereby represents and warrants that no Default or Event of Default has
occurred and is continuing on and as of the date hereof.

          5. Terms defined in the Credit Agreement shall have their defined meanings when used herein.

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

          7. This Supplement may be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which when so executed shall be deemed to be an original
and all of which taken together shall constitute one and the same document.

[remainder of this page intentionally left blank]

2

 

          IN WITNESS WHEREOF, each of the undersigned has caused this Supplement to be executed and
delivered by a duly authorized signatory on the date first above written.

	 	 	 	 	 
	 	[INSERT NAME OF AUGMENTING LENDER]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Accepted and agreed to as of the date first written above:

	 	 	 	 	 

	MASCO CORPORATION	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 
	 
	 	 	 	 
	Acknowledged as of the date first written above:	 	 
	 
	 	 	 	 
	JPMORGAN CHASE BANK, N.A.	 	 
	as Administrative Agent	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 

3

 

EXHIBIT E

LIST OF CLOSING DOCUMENTS

MASCO CORPORATION

MASCO EUROPE S.À.R.L.

REVOLVING CREDIT FACILITY

June 21, 2010

LIST OF CLOSING DOCUMENTS1

A. LOAN DOCUMENTS

	1.	 	Credit Agreement (the “Credit Agreement”) by and among Masco Corporation, a Delaware
corporation (the “Company”), Masco Europe S.À.R.L., a wholly-owned Subsidiary of the
Company organized as a société à responsabilité limitée under the laws of the Grand Duchy of
Luxembourg, having its registered office at 22, Parc d’activité Syrdall, L-5365 Münsbach and
registered with the Luxembourg Register of Commerce and Companies under number B68.104 (the
“Foreign Subsidiary Borrower”, and together with the Company, the
“Borrowers”), the institutions from time to time parties thereto as Lenders (the
“Lenders”), JPMorgan Chase Bank, N.A., in its capacity as Administrative Agent for
itself and the other Lenders (the “Administrative Agent”) and the other agents parties
thereto, evidencing a revolving credit facility to the Borrowers from the Lenders in an
initial aggregate principal amount of $1,250,000,000.

SCHEDULES

	 	 	 	 	 	 	 

	 

	 	Schedule 2.01
	 	—
	 	Commitments
	 
	 

	 	Schedule 2.02
	 	—
	 	Mandatory Cost
	 
	 

	 	Schedule 2.06
	 	—
	 	Existing Letters of Credit

EXHIBITS

	 	 	 	 	 	 	 

	 

	 	Exhibit A
	 	—
	 	Form of Assignment and Assumption
	 
	 

	 	Exhibit B-1
	 	—
	 	Form of Opinions of Borrowers’ U.S. Counsel
	 
	 

	 	Exhibit B-2
	 	—
	 	Form of Opinion of the Foreign Subsidiary Borrower’s Counsel
	 
	 

	 	Exhibit C
	 	—
	 	Form of Increasing Lender Supplement
	 
	 

	 	Exhibit D
	 	—
	 	Form of Augmenting Lender Supplement
	 
	 

	 	Exhibit E
	 	—
	 	List of Closing Documents

 

			
	1	 	Each capitalized term used herein and not
defined herein shall have the meaning assigned to such term in the
above-defined Credit Agreement. Items appearing in bold and italics shall be
prepared and/or provided by the Company and/or Company’s counsel.

 

 

	2.	 	Notes executed by the initial Borrowers in favor of each of the Lenders, if any, which has
requested a note pursuant to Section 2.10(e) of the Credit Agreement.

B. CORPORATE DOCUMENTS

	3.	 	Certificate of the Secretary of the Company certifying (i) resolutions of the Board of
Directors of the Company approving and authorizing the execution, delivery and performance of
the Credit Agreement, (ii) that there have been no changes in the Certificate of Incorporation
(attached thereto) of the Company since the date of the most recent certification thereof by
the Secretary of State of Delaware delivered to the Administrative Agent, (iii) the names and
true signatures of the incumbent officers of the Company authorized to sign the Credit
Agreement, and (iv) the By-laws (attached thereto) of the Company as in effect on the date of
such certification.
	 
	4.	 	Good Standing Certificates for the Company from the offices of the Secretaries of State of
Delaware and Michigan.
	 
	5.	 	Certificate of a Manager of the Foreign Subsidiary Borrower certifying (i) resolutions of the
Managers of the Foreign Subsidiary Borrower approving and authorizing the execution, delivery
and performance of the Credit Agreement, (ii) that there have been no changes in the Articles
of Association (attached thereto) of Foreign Subsidiary Borrower since June 18, 2004, (iii)
the names and true signatures of the incumbent Managers of the Foreign Subsidiary Borrower
authorized to sign the Credit Agreement and (iv) a duly certified excerpt from the Register of
Commerce and Companies in Luxembourg (attached thereto).
	 
	6.	 	A Non-Bankruptcy Certificate with respect the Foreign Subsidiary Borrower issued by the
clerk’s office of the second chamber of the Luxembourg District Court (greffe de a deuxiéme
section du Tribunal d’Arrondissement de et á Luxembourg).

C. OPINION LETTERS

	5.	 	Opinions of counsel to the Company and the Foreign Subsidiary Borrower:

	 	(a)	 	Davis Polk & Wardwell LLP.
	 
	 	(b)	 	Gregory D. Wittrock, General Counsel of the Company.
	 
	 	(c)	 	Linklaters LLP, special Luxembourg counsel to the Foreign Subsidiary Borrower.

D. CLOSING CERTIFICATES AND MISCELLANEOUS

	6.	 	A Certificate signed by the President, a Vice President or a Financial Officer of the Company
certifying the following: (i) all of the representations and warranties of the Company set
forth in the Credit Agreement are true and correct and (ii) no Default has occurred and is
then continuing.
	 
	7.	 	Payoff documentation providing evidence satisfactory to the Administrative Agent that the
Existing Credit Agreement has been terminated and cancelled (along with all of the agreements,
documents and instruments delivered in connection therewith) and all Debt owing thereunder
has been repaid.

2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}]]