Document:

<PAGE>

                INTERCOMPANY SUBORDINATED DEMAND PROMISSORY NOTE

Note Number: 1                                         Dated November 30, 1999

         FOR VALUE RECEIVED, the Borrower and each of its Subsidiaries
(collectively, the "GROUP MEMBERS" and each, a "GROUP MEMBER") which is a
party to this intercompany subordinated demand promissory note (the
"PROMISSORY NOTE") promises to pay to the order of such other_ as makes loans
to such (each _ which borrows money pursuant to this Promissory Note is
referred to herein as a "PAYOR" and each_ which makes loans and advances
pursuant to this Promissory Note is referred to herein as a "PAYEE"), on
demand, in lawful money of the United States of America, in immediately
available funds and at the appropriate office of the Payee, the aggregate
unpaid principal amount of all loans and advances heretofore and hereafter
made by such Payee to such Payor and any other indebtedness now or hereafter
owing by such Payor to such Payee as shown either on Schedule A attached
hereto (and any continuation thereof) or in the books and records of such
Payee. The failure to show any such Indebtedness or any error in showing such
Indebtedness shall not affect the obligations of any Payor hereunder.
Capitalized terms used herein but not otherwise defined herein shall have the
meanings given such terms in the Credit Agreement, dated as of November 30,
1999 (as amended, supplemented, replaced or otherwise modified from time to
time, the "CREDIT AGREEMENT"), among O'Sullivan Industries, Inc. (the
"BORROWER"), each bank and other financial institution or entity from time to
time party thereto, Lehman Brothers Inc., as advisor, lead arranger and book
manager, Wachovia Bank, N.A., as syndication agent, and Lehman Commercial
Paper Inc., as administrative agent (in such capacity and including its
successors and assigns, the "ADMINISTRATIVE AGENT").

         The unpaid principal amount hereof from time to time outstanding
shall bear interest at a rate equal to the rate as may be agreed upon in
writing from time to time by the relevant Payor and Payee or, at the
Administrative Agent's option following the occurrence and during the
continuation of an Event of Default, at the rate per annum then applicable to
Base Rate Loans under the Revolving Credit Facility or, following expiration
or termination of the Revolving Credit Commitments, the rate applicable to
Base Rate Loans thereunder immediately prior to such expiration or
termination, in each case, PLUS 2.0% per annum. Interest shall be due and
payable on the last day of each month commencing after the date hereof or at
such other times as may be agreed upon in writing from time to time by the
relevant Payor and Payee. Upon demand for payment of any principal amount
hereof, accrued but unpaid interest on such principal amount shall also be
due and payable. Interest shall be paid in lawful money of the United States
of America and in immediately available funds. Interest shall be computed for
the actual number of days elapsed on the basis of a year consisting of 365
days.

        Each Payor and any endorser of this Promissory Note hereby waives
presentment, demand, protest and notice of any kind. No failure to exercise,
and no delay in exercising, any rights hereunder on the part of the holder
hereof shall operate as a waiver of such rights.

         This Promissory Note has been pledged by each Payee to the
Administrative Agent, for the benefit of the Secured Parties, as security for
such Payee's Obligations, if any,

<PAGE>

under the Credit Agreement, the Guarantee and Collateral Agreement and the
other Loan Documents to which such Payee is a party. Each Payor acknowledges
and agrees that the Administrative Agent and the other Secured Parties may
exercise all the rights of the Payees under this Promissory Note and will not
be subject to any abatement, reduction, recoupment, defense, setoff or
counterclaim available to such Payor.

         Each Payee agrees that any and all claims of such Payee against any
Payor or any endorser of this Promissory Note, or against any of their
respective properties, shall be subordinate and subject in right of payment to
the Obligations until all of the Obligations have been performed and  paid in
full in immediately available funds, no Letters of Credit are outstanding and
the Commitments have been terminated; PROVIDED, that each Payor may make
payments to the applicable Payee so long as no Default or Event of Default
shall have occurred and be continuing; and PROVIDED, FURTHER, that all loans
and advances made by a Payee pursuant to this Promissory Note shall be
received by the applicable Payor subject to the provisions of the Credit
Agreement including, without limitation, the provisions thereof relating to
mandatory prepayment. Notwithstanding any right of any Payee to ask, demand,
sue for, take or receive any payment from any Payor, all rights, Liens and
security interests of such Payee, whether now or hereafter arising and
howsoever existing, in any assets of any Payor (whether constituting part of
the security or collateral given to the Administrative Agent or any Secured
Party to secure payment of all or any part of the Obligations or otherwise)
shall be and hereby are subordinated to the rights of the Administrative
Agent or any Secured Party in such assets. Except as expressly permitted by
the Credit Agreement, the Payees shall have no right to possession of any such
asset or to foreclose upon, or exercise any other remedy in respect of, any
such asset, whether by judicial action or otherwise, unless and until all of
the Obligations shall have been performed and paid in full in immediately
available funds, no Letters of Credit are outstanding and the Commitments
under the Credit Agreement have been terminated.

         If all or any part of the assets of any Payor, or the proceeds
thereof, are subject to any distribution, division or application to the
creditors of any Payor, whether partial or complete, voluntary or
involuntary, and whether by reason of liquidation, bankruptcy, arrangement,
receivership, assignment for the benefit of creditors or any other action or
proceeding, or if the business of any Payor is dissolved or if (except as
expressly permitted by the Credit Agreement) all or substantially all of the
assets of any Payor are sold, then, and in any such event, any payment or
distribution of any kind or character, whether in cash, securities or other
investment property, or otherwise, which shall be payable or deliverable upon
or with respect to any indebtedness of such Payor to any Payee ("PAYOR
INDEBTEDNESS") shall be paid or delivered directly to the Administrative
Agent for application to any of the Obligations, due or to become due, until
the date on which the Obligations shall have been performed and paid in full
in immediately available funds, no Letters of Credit shall be outstanding and
the Commitments shall have been terminated. Each Payee irrevocably
authorizes, empowers and appoints the Administrative Agent as such Payee's
attorney-in-fact (which appointment is coupled with an interest and is
irrevocable) to demand, sue for, collect and receive every such payment or
distribution and give acquittance therefor and to make and present for and on
behalf of such Payee such proofs of claim and take such other action, in the
Administrative Agent's own name or in the name of such Payee or otherwise, as
the Administrative Agent may deem necessary or

                                      2

<PAGE>

advisable for the enforcement of this Promissory Note. Each Payee also agrees
to execute, verify, deliver and file any such proofs of claim in respect of
the Payor Indebtedness requested by the Administrative Agent. The
Administrative Agent may vote such proofs of claim in any such proceeding
(and the applicable Payee shall not be entitled to withdraw such vote),
receive and collect any and all dividends or other payments or disbursements
made on Payor Indebtedness in whatever form the same may be paid or issued
and apply the same on account of any of the Obligations. Except as otherwise
expressly permitted under the Credit Agreement, should any payment,
distribution, security or other investment property or instrument or any
proceeds thereof be received by an Payee upon or with respect to Payor
Indebtedness owing to such Payee prior to such time as the Obligations have
been performed and paid in full in immediately available funds, no Letters of
Credit are outstanding and the Commitments have been terminated, such Payee
shall receive and hold the same in trust, as trustee, for the benefit of the
Administrative Agent and the Secured Parties, and shall forthwith deliver the
same to the Administrative Agent, for the benefit of the Secured Parties, in
precisely the form received (except for the endorsement or assignment of such
Payee where necessary or advisable in the Administrative Agent's judgment),
for application to any of the Obligations, due or not due, and until so
delivered, the same shall be segregated from the other assets of such Payee
and held in trust by such Payee as the property of the Administrative Agent,
for the benefit of the Secured Parties. If such Payee fails to make any such
endorsement or assignment to the Administrative Agent, the Administrative
Agent or any  of its officers, employees or representatives are hereby
irrevocably authorized to make the same. Each Payee agrees that until the
Obligations have been performed and paid in full in immediately available
funds, no Letters of Credit are outstanding and the Commitments have been
terminated, such Payee will not (i) assign or transfer, or agree to assign or
transfer, to any Person (other than in favor of the Administrative Agent for
the benefit of the Secured Parties pursuant to the Guarantee and Collateral
Agreement or otherwise) any claim such Payee has or may have against any
Payor, (ii) discount or extend the time for payment of any Payor
Indebtedness, or (iii) otherwise amend, modify, supplement, waive or fail to
enforce any provision of this Promissory Note.

         NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN, IN ANY
OTHER LOAN DOCUMENT OR IN ANY SUCH PROMISSORY NOTE OR OTHER INSTRUMENT, THIS
PROMISSORY NOTE (i) REPLACES AND SUPERSEDES ANY AND ALL PROMISSORY NOTES OR
OTHER INSTRUMENTS WHICH CREATE OR EVIDENCE ANY LOANS OR ADVANCES MADE ON OR
BEFORE THE DATE HEREOF BY ANY GROUP MEMBER TO ANY OTHER GROUP MEMBER, AND
(ii) SHALL NOT BE DEEMED REPLACED, SUPERSEDED OR IN ANY WAY MODIFIED BY AN
PROMISSORY NOTE OR OTHER INSTRUMENT ENTERED INTO ON OR AFTER THE DATE HEREOF
WHICH PURPORTS TO CREATE OR EVIDENCE ANY LOAN OR ADVANCE BY ANY GROUP MEMBER
TO ANY OTHER GROUP MEMBER.

         THIS PROMISSORY NOTE AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
UNDER THIS PROMISSORY NOTE SHALL BE GOVERNED BY, AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

         From time to time after the date hereof, additional Subsidiaries of
the Group Members may become parties hereto by executing a counterpart
signature page to this

                                      3

<PAGE>

Promissory Note (each additional Subsidiary, an "ADDITIONAL PAYOR"). Upon
delivery of such counterpart signature page to the Payees, notice of which is
hereby waived by the other Payors, each Additional Payor shall be a Payor and
shall be as fully a party hereto as if such Additional Payor were an original
signatory hereof. Each Payor expressly agrees that its obligations arising
hereunder shall not be affected or diminished by the addition or release of
any other Payor hereunder. This Promissory Note shall be fully effective as to
any Payor that is or becomes a party hereto regardless of whether any other
Person becomes or fails to become or ceases to be a Payor hereunder.

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

                           [Signature page follows]

                                      4

<PAGE>

         IN WITNESS WHEREOF, each Payor has caused this Intercompany
Subordinated Demand Promissory Note to be executed and delivered by its proper
and duly authorized officer as of the date set forth above.

                                       O'SULLIVAN INDUSTRIES, INC.

                                       By: /s/ Richard D. Davidson
                                          -------------------------------
                                          Name:  Richard D. Davidson
                                          Title: President

                                       O'SULLIVAN INDUSTRIES -- VIRGINIA, INC.

                                       By: /s/ Richard D. Davidson
                                          -------------------------------
                                          Name:  Richard D. Davidson
                                          Title: President

<PAGE>

                                                                    SCHEDULE A

                                 TRANSACTIONS
                                      ON
               INTERCOMPANY SUBORDINATED DEMAND PROMISSORY NOTE

<TABLE>
_______________________________________________________________________________________________________
  <S>       <C>                <C>         <C>             <C>          <C>                <C>
                                                                         OUTSTANDING
                                                           AMOUNT OF      PRINCIPAL
                                            AMOUNT OF      PRINCIPAL     BALANCE FROM
                                NAME OF      ADVANCE          PAID      PAYOR TO PAYEE       NOTATION
   DATE      NAME OF PAYOR       PAYEE      THIS DATE      THIS DATE      THIS DATE           MADE BY
_______________________________________________________________________________________________________

_______________________________________________________________________________________________________

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_______________________________________________________________________________________________________

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_______________________________________________________________________________________________________

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_______________________________________________________________________________________________________

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_______________________________________________________________________________________________________

_______________________________________________________________________________________________________

_______________________________________________________________________________________________________

_______________________________________________________________________________________________________

_______________________________________________________________________________________________________

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_______________________________________________________________________________________________________

_______________________________________________________________________________________________________

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_______________________________________________________________________________________________________

_______________________________________________________________________________________________________

</TABLE>

<PAGE>

                                 ENDORSEMENT

         FOR VALUE RECEIVED, each of the undersigned does hereby sell, assign
and transfer to _____________________________all of its right, title and
interest in and to the Intercompany Subordinated Demand Promissory Note,
dated November 30, 1999 (as amended, supplemented, replaced or otherwise
modified from time to time, the "PROMISSORY NOTE"), made by O'Sullivan
Industries, Inc. (the "BORROWER"), and each other Subsidiary of the Borrower
or any other Person that becomes a party thereto, and payable to the
undersigned. This endorsement is intended to be attached to the Promissory
Note and, when so attached, shall constitute an endorsement thereof.

         The initial undersigned shall be the Group Members (as defined in
the Promissory Note) party to the Loan Documents on the date of the
Promissory Note. From time to time after the date thereof, additional
Subsidiaries of the Group Members shall become parties to the Promissory Note
(each, an "ADDITIONAL PAYEE") and a signatory to this endorsement by executing
a counterpart signature page to the Promissory Note and to this endorsement.
Upon delivery of such counterpart signature page to the Payors, notice of
which is hereby waived by the other Payees, each Additional Payee shall be a
Payee and shall be as fully a Payee under the Promissory Note and a signatory
to this endorsement as if such Additional Payee were an original Payee under
the Promissory Note and an original signatory hereof. Each Payee expressly
agrees that its obligations arising under the Promissory Note and hereunder
shall not be affected or diminished by the addition or release of any other
Payee under the Promissory Note or hereunder. This endorsement shall be fully
effective as to any Payee that is or becomes a  signatory hereto regardless
of whether any other Person becomes or fails to become or ceases to be a
Payee to the Promissory Note or hereunder.

         Dated:----------------------

                           [Signature page follows]

<PAGE>

                                       O'SULLIVAN INDUSTRIES, INC.

                                       By: /s/ Richard D. Davidson
                                          -------------------------------
                                          Name:  Richard D. Davidson
                                          Title: President

                                       O'SULLIVAN INDUSTRIES -- VIRGINIA, INC.

                                       By: /s/ Richard D. Davidson
                                          -------------------------------
                                          Name:  Richard D. Davidson
                                          Title: President<PAGE>
                                                                   EXHIBIT 10.10
                                                                  EXECUTION COPY

                             SUBSCRIPTION AGREEMENT

         SUBSCRIPTION AGREEMENT (this "AGREEMENT"), dated as of November 30,
1999, by and among OSI Acquisition, Inc., a Delaware corporation (the
"COMPANY"), Bruckmann, Rosser, Sherrill & Co. II, L.P. ("BRS") and the
individuals whose names appear on the signature pages attached hereto (together
with BRS, the "PURCHASERS"). Except as otherwise indicated herein, capitalized
terms used herein are defined in Section 5 hereof.

         WHEREAS, the Purchasers wish to conduct the operations of the Company
and have agreed to make certain capital contributions to the Company in
consideration for certain shares of capital stock of the Company; and

         WHEREAS, the Company and the Purchasers desire to enter into an
agreement pursuant to which the Company will sell to the Purchasers and the
Purchasers will buy from the Company certain shares of the Company's Common
Stock, Junior Preferred Stock and, in the case of BRS, Senior Preferred Stock
(collectively, the "SECURITIES") in each case having the rights and preferences
set forth in the Amended and Restated Certificate of Incorporation of the
Company, a copy of which is attached hereto as EXHIBIT A.

         NOW THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:

         SECTION 1. AUTHORIZATION AND CLOSING.

         (a) THE SECURITIES. The Company has authorized the issuance and sale to
each Purchaser the classes and quantities of Securities set forth opposite such
Purchaser's name on the attached SCHEDULE 1, in each case at a purchase price
equal to $1.00 per share of Common Stock, $100.00 per share of Junior Preferred
Stock and $1.50 per share of Senior Preferred Stock.

         (b) PURCHASE AND SALE OF THE SECURITIES. At the Closings (as defined
below), the Company shall sell to the Purchasers, and subject to the terms and
conditions set forth herein, the Purchasers shall purchase from the Company the
Securities.

         (c) THE CLOSINGS. The closings of the transactions contemplated by this
Agreement shall take place as described below at the offices of Kirkland &
Ellis, Citicorp Center, 153 East 53rd Street, New York, New York, 10022 at 10:00
a.m. on each of November 29, 1999 (the "FIRST CLOSING DATE"), and November 30,
1999, (the "SECOND CLOSING DATE"). The closing of the transactions to be
effectuated on the First Closing Date under paragraph (i) below is referred to
herein as the "FIRST CLOSING." The closing of the transactions to be effectuated
on the Second Closing

<PAGE>

Date pursuant to paragraph (ii) below is referred to herein as the "SECOND
CLOSING." The First Closing and the Second Closing are referred to herein,
collectively, as the "CLOSINGS."

                  (i) FIRST CLOSING. On the First Closing Date, (x) BRS shall
contribute to the capital of the Company an amount equal to $259,978.50, payable
by check or wire transfer of immediately available funds, and (y) in exchange
therefor, the Company shall issue to BRS 173,319 shares of Senior Preferred
Stock. In furtherance thereof, the Company shall deliver to BRS a certificate
(or certificates) representing such shares of Senior Preferred Stock and bearing
the legend described in Section 3 below.

                  (ii) SECOND CLOSING. On the Second Closing Date, (x) each
Purchaser shall contribute to the capital of the Company an amount equal to the
"contribution amount" set forth opposite such Purchaser's name on the attached
SCHEDULE 1 (except, in the case of BRS, any amount payable in respect of shares
of Senior Preferred Stock to the extent such amount was previously contributed
to the Company pursuant to paragraph (i) above), payable by check or wire
transfer of immediately available funds, and (y) the Company shall issue to each
Purchaser the classes and quantities of Securities set forth opposite such
Purchaser's name on the attached SCHEDULE 1 (except, in the case of BRS, any
shares of Senior Preferred Stock).

         SECTION 2. PURCHASERS' INVESTMENT REPRESENTATIONS.

         Each Purchaser hereby represent that:

                  (i) such Purchaser is acquiring the Securities to be purchased
by them hereunder or to be acquired by them pursuant hereto for their own
account with the present intention of holding such securities for investment
purposes and that they have no intention of selling such securities in a public
distribution in violation of the federal securities laws or any applicable state
securities laws;

                  (ii) such Purchaser is able to bear the economic risk of the
investment in the Securities for an indefinite period of time because the
Securities are subject to the transfer restrictions contained herein and have
not been registered under the 1933 Act;

                  (iii) such Purchaser has had an opportunity to ask questions
and receive answers concerning the terms and conditions of the offering of the
Securities and has had full access to such other information concerning the
Company as the Purchaser has requested. Purchaser has reviewed, or has had an
opportunity to review copies of the following documents, (A) the Stockholders
Agreement, (B) Amended and Restated Certificate of Incorporation of the Company,
and (C) the Registration Rights Agreement;

                                      - 2 -
<PAGE>

                  (iv) such Purchaser either (A) is an "accredited investor" as
defined in rule 501(a) under the 1933 Act or (B) has such knowledge,
sophistication and experience in business and financial matters so as to be
capable of evaluating the merits and risks of its prospective investment in the
Securities, is able to bear the economic risk of such investment and, at the
present time, is able to afford a complete loss of such investment; and

                  (v) this Agreement constitutes the legal, valid and binding
obligation of such Purchaser, enforceable in accordance with its terms, and the
execution, delivery, and performance of this Agreement by such Purchaser does
not and will not conflict with, violate, or cause a breach of any agreement,
contract, or instrument to which such Purchaser is a party or any judgment,
order, or decree to which such Purchaser is subject.

         SECTION 3. SECURITIES ACT LEGEND

         In the event that certificates representing the securities are issued
("CERTIFICATED SECURITIES") each certificate for Restricted Securities will be
imprinted with a legend in substantially the following form (the "SECURITIES ACT
LEGEND"):

         "THE SECURITIES REPRESENTED BY THIS CERTIFICATE WERE ORIG INALLY ISSUED
         ON NOVEMBER 30, 1999, AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
         ACT OF 1933, AS AMENDED. THE TRANSFER OF SUCH SECURITIES IS SUBJECT TO
         THE CONDITIONS SPECIFIED IN THE AMENDED AND RESTATED CERTIFICATE OF
         INCORPORATION AND THE SECURITIES PURCHASE AGREEMENT, DATED AS OF
         NOVEMBER 30, 1999, BETWEEN THE ISSUER (THE "COMPANY") AND CERTAIN
         INVESTORS, AND THE COMPANY RESERVES THE RIGHT TO REFUSE TO TRANSFER
         SUCH SECURITIES UNTIL SUCH CONDITIONS HAVE BEEN FULFILLED WITH RESPECT
         TO SUCH TRANSFER. UPON WRITTEN REQUEST, A COPY OF SUCH CONDITIONS WILL
         BE FURNISHED BY THE COMPANY TO THE HOLDER HEREOF WITHOUT CHARGE."

Whenever any of the Securities cease to be Restricted Securities and are not
otherwise restricted securities, the holder thereof will be entitled to receive
from the Company, without expense, upon surrender to the Company of the
certificate or instrument, as the case may be, representing such Restricted
Securities, a new certificate or instrument, as the case may be, representing
such Restricted Securities of like tenor but not bearing a legend of the
character set forth above.

                                      - 3 -
<PAGE>

         SECTION 4. RESTRICTIONS ON TRANSFER.

         (a) Each of the Purchasers hereby agrees that such Purchaser will not
transfer any of the Securities such Purchasers receives pursuant to Section 1
hereof, other than (i) in the case of BRS, transfers made pursuant to the terms
of the Stock Purchase Agreement dated as of the First Closing Date among BRS and
the several other parties thereto, and (ii) in the case of each Purchaser (and
in the case of BRS, its permitted transferees), transfers made pursuant to the
Merger Agreement.

         (b) Any transfer or attempted transfer of any Securities in violation
of any provision of this Agreement shall be null and void, and the Company shall
not record such transfer on its books or treat any purported transferee of such
Securities as the owner of such Securities for any purpose.

         SECTION 5. DEFINITIONS.

         For the purposes of this Agreement, the following terms have the
meanings set forth below:

         "AFFILIATE" of any particular Person means any other Person that
directly or indirectly controls, is controlled by or is under common control
with such Person. "CONTROL" means the posses sion, directly or indirectly, of
the power to direct or cause the direction of the management and policies of a
Person, whether through ownership of voting securities, by contract or
otherwise.

         "AMENDED AND RESTATED CERTIFICATE OF INCORPORATION" means the Company's
Certificate of Incorporation as in effect on the Closing Date, a copy of which
is attached hereto as EXHIBIT A.

         "COMMON STOCK" has the meaning set forth in the Amended and Restated
Certificate of Incorporation.

         "JUNIOR PREFERRED STOCK" has the meaning set forth in the Amended and
Restated Certificate of Incorporation.

         "MERGER AGREEMENT" means that certain Agreement and Plan of Merger date
as of May 17, 1999, between OSI Acquisition, Inc. and O'Sullivan Industries
Holdings, Inc., as in effect from time to time.

         "PERSON" means an individual, a partnership, a corporation, an
association, a joint stock company, a trust, a joint venture, an unincorporated
organization or any other entity (including,

                                     - 4 -
<PAGE>

without limitation, any governmental entity or any department, agency or
political subdivision thereof).

         "REGISTRATION RIGHTS AGREEMENT" means the Registration Rights Agreement
(as amended, restated or modified from time to time) to be entered into by and
among the Company, BRS and the other stockholders of the Company in connection
with the transactions contemplated under the Merger Agreement.

         "RESTRICTED SECURITIES" means (i) the Securities issued hereunder and
(ii) any securities issued with respect to any of the Restricted Securities.
Restricted Securities will continue as such in the hands of any transferee;
PROVIDED, that as to any particular Restricted Securities, such securities shall
cease to be Restricted Securities when they have (a) been effectively registered
under the Securities Act and disposed of in accordance with the registration
statement covering them, (b) become eligible for sale pursuant to Rule 144 of
the Securities and Exchange Commission and disposed of in accordance therewith.
Whenever any particular certificated securities cease to be Restricted
Securities, the holder thereof shall be entitled to receive from the Company,
without expense, new certificates or instruments, as the case may be, not
bearing a Securities Act Legend of the character set forth in paragraph 3.

         "SECURITIES ACT" means the Securities Act of 1933, as amended, or any
similar federal law then in force.

         "SECURITIES AND EXCHANGE COMMISSION" includes any governmental body or
agency succeeding to the functions thereof.

         "SENIOR PREFERRED STOCK" has the meaning set forth in the Amended and
Restated Certificate of Incorporation attached hereto as EXHIBIT A.

         "STOCKHOLDERS AGREEMENT" means the Stockholders Agreement (as amended,
restated or modified from time to time) to be entered into by and among the
Company, BRS and the other stockholders of the Company in connection with the
transactions contemplated under the Merger Agreement.

         SECTION 6. MISCELLANEOUS.

         (a) GOVERNING LAW. THE CORPORATE LAW OF THE STATE OF DELAWARE WILL
GOVERN ALL QUESTIONS CONCERNING THE RELATIVE RIGHTS OF THE COMPANY AND THE
PURCHASERS. ALL OTHER QUESTIONS CONCERNING THE CONSTRUCTION, ENFORCEABILITY,
VALIDITY AND BINDING EFFECT OF THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO
ANY CHOICE OF LAW OR CONFLICT OF LAW PROVISION OR RULE (WHETHER

                                     - 5 -
<PAGE>

OF THE STATE OF NEW YORK OR ANY OTHER JURISDICTION) THAT WOULD CAUSE THE
APPLICATION OF THE LAW OF ANY JURISDICTION OTHER THAN THE STATE OF NEW YORK.

         (b) NOTICES. All notices, demands or other communications to be given
or delivered under or by reason of the provisions of this Agreement shall be in
writing and shall be deemed to have been given when delivered personally to the
recipient, sent to the recipient by reputable express courier service (charges
prepaid) or mailed to the recipient by certified or registered mail, return
receipt requested and postage prepaid. Such notices, demands and other
communications shall be sent to the Purchasers and to the Company at the
addresses indicated below:

                  If to the Company:

                  c/o Bruckmann, Rosser, Sherrill & Co., L.P.
                  126 East 56th Street, 29th Floor
                  New York, NY 10022
                  Attention:  S. Edwards
                  Facsimile No.: 212-521-3799

                  WITH A COPY (WHICH SHALL NOT CONSTITUTE NOTICE) TO:

                  Kirkland & Ellis
                  153 East 53rd Street
                  New York, NY 10022
                  Attention:  Kirk A. Radke, Esq.
                  Telecopy No.:  (212) 446-4900

                  If to any Purchaser:

                  [PURCHASER]
                  c/o Bruckmann, Rosser, Sherrill & Co., L.P.
                  126 East 56th Street, 29th Floor
                  New York, NY 10022
                  Attention: [PURCHASER]
                  Facsimile No.: 212-521-3799

                  WITH A COPY (WHICH SHALL NOT CONSTITUTE NOTICE) TO:

                  Kirkland & Ellis
                  153 East 53rd Street
                  New York, NY 10022
                  Attention:  Kirk A. Radke, Esq.
                  Telecopy No.:  (212) 446-4900

                                     - 6 -
<PAGE>

or to such other address or to the attention of such other person as the
recipient party has specified by prior written notice to the sending party.

         (c) COMPLETE AGREEMENT. This Agreement embodies the complete agreement
and understanding among the parties and supersede and preempt any prior
understandings, agreements or representations by or among the parties, written
or oral, which may have related to the subject matter hereof in any way.

         (d) COUNTERPARTS. This Agreement may be executed in separate
counterparts, each of which is deemed to be an original and all of which taken
together constitute one and the same agreement.

         (e) SUCCESSORS AND ASSIGNS. Except as otherwise provided herein, this
Agreement shall bind and inure to the benefit of and be enforceable by each
Purchaser, the Company and their respective successors and assigns (including
subsequent holders of Securities); PROVIDED, that the rights and obligations of
the Purchasers under this Agreement shall not be assignable except in connection
with a permitted transfer of Securities hereunder.

                                  *    *    *

                                      - 7 -
<PAGE>

         IN WITNESS WHEREOF, the parties hereto have executed this Subscription
Agreement on the date first written above.

                                  OSI ACQUISITION, INC.

                                  By: /s/ Richard D. Davidson
                                      ------------------------------------
                                      Name:
                                      Title:

                                  BRUCKMANN, ROSSER, SHERRILL & CO. II, L.P.

                                  By: /s/ Stephen F. Edwards
                                      ------------------------------------
                                      Name:
                                      Title:

                                  /s/ BONNIE DIETRICH
                                  ------------------------------
                                  BONNIE DIETRICH

                                  /s/ RICE EDMONDS
                                  ------------------------------
                                  RICE EDMONDS

                                  /s/ JULIET FRIST
                                  ------------------------------
                                  JULIET FRIST

                                  /s/ SUSAN KAIDER
                                  ------------------------------
                                  SUSAN KAIDER

                                  /s/ SARAH POLIZOTTO
                                  ------------------------------
                                  SARAH POLIZOTTO

                                  /s/ WALKER SIMMONS
                                  ------------------------------
                                  WALKER SIMMONS

                                  /s/ MARILENA TIBREA
                                  ------------------------------
                                  MARILENA TIBREA

                                      - 8 -
<PAGE>

                                   SCHEDULE 1

                      SECURITIES TO BE ISSUED AND PURCHASED

<TABLE>
<CAPTION>

                                                           SECURITIES TO PURCHASE
                                        ------------------------------------------------------------
                                        SHARES OF            SHARES OF
                                        SENIOR               JUNIOR                 SHARES OF
                                        PREFERRED            PREFERRED              COMMON               CONTRIBUTION
PURCHASER                               STOCK                STOCK                  STOCK                TO CAPITAL
---------------------------------       ----------------     ------------------     ----------------     ---------------------
<S>                                     <C>                  <C>                    <C>                  <C>
BRS                                     173,319              408,893.172            920,013.963          $ 41,964,226.44
Bonnie Dietrich                         -                    44.29                  99.66                $ 4,528.99
Rice Edmonds                            -                    1,129.48               2,541.33             $ 115,489.33
Juliet Frist                            -                    577.59                 1,299.57             $ 59,058
Susan Kaider                            -                    44.29                  99.66                $ 4,528.99
Sarah Polizotto                         -                    44.29                  99.66                $ 4,528.99
Walker Simmons                          -                    1,129.48               2,541.33             $ 115,489.33
Marilena Tibrea                         -                    132.88                 298.98               $ 13,586.98

</TABLE>

                                      - 9 -
<PAGE>
                                                                       EXHIBIT A

                              AMENDED AND RESTATED
                          CERTIFICATE OF INCORPORATION
                                       OF
                              OSI ACQUISITION, INC.

                                 (SEE ATTACHED)

                                     - 10 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00002-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00002-of-00352.parquet"}]]