Document:

exv10w1

 

EXECUTION
COPY

Exhibit 10.1

BULK GAS BUSINESS

EQUITY PURCHASE AGREEMENT

BY AND AMONG

HOLOX (USA) B.V.,

HOLOX INC.,

LINDE AG

AND

AIRGAS, INC.

 

DATED AS OF NOVEMBER 22, 2006

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	SECTION 1 DEFINITIONS
	 	 	2	 
	1.1. Definitions
	 	 	2	 
	1.2. Construction
	 	 	25	 
	 
	 	 	 	 
	SECTION 2 PURCHASE AND SALE OF PURCHASED EQUITY INTERESTS
	 	 	26	 
	2.1. Purchase and Sale of Purchased Equity Interests
	 	 	26	 
	2.2. Purchase Price
	 	 	26	 
	2.3. Post-Closing Payment
	 	 	27	 
	2.4. Allocation
	 	 	28	 
	 
	 	 	 	 
	SECTION 3 CLOSING
	 	 	29	 
	3.1. Closing
	 	 	29	 
	3.2. Certain Closing Deliveries by the Sellers
	 	 	29	 
	3.3. Certain Closing Deliveries by the Purchaser
	 	 	30	 
	 
	 	 	 	 
	SECTION 4 REPRESENTATIONS AND WARRANTIES OF THE SELLERS
	 	 	31	 
	4.1. Organization of the Sellers and the Guarantor
	 	 	31	 
	4.2. Organization of the Companies
	 	 	31	 
	4.3. Corporate Authority and Binding Obligation
	 	 	32	 
	4.4. Capitalization and Ownership
	 	 	33	 
	4.5. Ownership of Purchased Equity Interests
	 	 	34	 
	4.6. No Violation
	 	 	34	 
	4.7. Governmental Approvals
	 	 	35	 
	4.8. Financial Statements
	 	 	35	 
	4.9. No Undisclosed Liabilities
	 	 	36	 
	4.10. No Business Material Adverse Effect
	 	 	36	 
	4.11. Bulk Assets
	 	 	36	 
	4.12. Litigation and Proceedings
	 	 	37	 
	4.13. Accounts Receivable
	 	 	38	 
	4.14. Inventory
	 	 	38	 
	4.15. Intellectual Property
	 	 	38	 
	4.16. Real Property
	 	 	39	 
	4.17. Permits
	 	 	41	 
	4.18. Agreements
	 	 	41	 
	4.19. Customers
	 	 	42	 
	4.20. Employees
	 	 	43	 
	4.21. Compliance with Laws
	 	 	45	 
	4.22. Environmental
	 	 	45	 
	4.23. Taxes
	 	 	46	 
	4.24. Transactions with Affiliates and Related Parties
	 	 	48	 
	4.25. Jefferson Capital Improvement
	 	 	48	 
	4.26. No Other Representations and Warranties
	 	 	48	 

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	 	 	Page	 
	SECTION 5 REPRESENTATIONS AND WARRANTIES OF THE PURCHASER
	 	 	49	 
	5.1. Corporate Organization
	 	 	49	 
	5.2. Corporate Authority
	 	 	49	 
	5.3. No Violation
	 	 	49	 
	5.4. Governmental Approvals
	 	 	49	 
	5.5. Financing
	 	 	50	 
	5.6. Employee Benefits
	 	 	50	 
	5.7. Independent Investigation; Sellers’ Representations
	 	 	50	 
	 
	 	 	 	 
	SECTION 6 FURTHER COVENANTS
	 	 	51	 
	6.1. Access to Information and Documents; Pre-Closing Cooperation
	 	 	51	 
	6.2. Assistance Relating to Warranty Rights
	 	 	52	 
	6.3. Confidentiality Agreements
	 	 	52	 
	6.4. Non-Solicitation of Customers
	 	 	55	 
	6.5. Non-Solicitation of Employees
	 	 	57	 
	6.6.
Consents and Approvals, etc.
	 	 	58	 
	6.7. Rebates and Discounts
	 	 	59	 
	6.8. Conduct of the Bulk Gas Business Prior to the Closing Date
	 	 	59	 
	6.9. Exclusivity
	 	 	62	 
	6.10. Agreements
	 	 	63	 
	6.11. Intellectual Property Licenses
	 	 	63	 
	6.12. Financing
	 	 	66	 
	6.13. Access and Cooperation
	 	 	67	 
	6.14. Tax Matters
	 	 	67	 
	6.15. Litigation; Insurance
	 	 	68	 
	6.16. Acquisition Agreements
	 	 	71	 
	6.17. Closing Conditions
	 	 	71	 
	6.18. Auditor’s Consents; Audit Expenses
	 	 	71	 
	6.19. Customer Contracts
	 	 	72	 
	6.20. Canton, Ohio Cleanup
	 	 	72	 
	6.21. [Intentionally Omitted]
	 	 	72	 
	6.22. Restructuring
	 	 	72	 
	 
	 	 	 	 
	SECTION 7 CONDITIONS PRECEDENT TO OBLIGATIONS OF THE PURCHASER
	 	 	74	 
	7.1. Representations and Warranties
	 	 	74	 
	7.2. Covenants and Agreements
	 	 	74	 
	7.3. No Business Material Adverse Effect
	 	 	75	 
	7.4. Officer’s Certificate
	 	 	75	 
	7.5. Litigation
	 	 	75	 
	7.6. Regulatory Consents
	 	 	75	 
	7.7. Intentionally Omitted
	 	 	75	 
	7.8. Contract Consents
	 	 	75	 
	7.9. Restructuring
	 	 	75	 
	7.10. Environmental Transfer Laws
	 	 	76	 
	 
	 	 	 	 
	SECTION 8 CONDITIONS PRECEDENT TO OBLIGATIONS OF THE SELLERS
	 	 	76	 
	8.1. Representations and Warranties
	 	 	76	 

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	 	 	Page	 
	8.2. Covenants and Agreements
	 	 	76	 
	8.3. Officer’s Certificate
	 	 	76	 
	8.4. Regulatory Consents
	 	 	76	 
	8.5. Restructuring
	 	 	76	 
	 
	 	 	 	 
	SECTION 9 EMPLOYEES
	 	 	76	 
	9.1. Employees at Closing; Notice
	 	 	76	 
	9.2. Treatment of Annual Bonuses
	 	 	77	 
	9.3. Stay Bonus Arrangement
	 	 	77	 
	9.4. Other Employee Matters
	 	 	78	 
	 
	 	 	 	 
	SECTION 10 BROKERAGE
	 	 	83	 
	 
	 	 	 	 
	SECTION 11 EXPENSES
	 	 	83	 
	 
	 	 	 	 
	SECTION 12 TRANSFER TAXES AND RECORDING EXPENSES
	 	 	83	 
	12.1. Transfer and Recording Taxes
	 	 	83	 
	12.2. Real and Personal Property Taxes
	 	 	84	 
	 
	 	 	 	 
	SECTION 13 SURVIVAL OF REPRESENTATIONS; INDEMNIFICATION
	 	 	84	 
	13.1. Survival of Representations and Warranties
	 	 	84	 
	13.2. Indemnification of the Purchaser
	 	 	84	 
	13.3. Duration of Indemnification of the Purchaser
	 	 	85	 
	13.4. Limitations on Indemnification of the Purchaser
	 	 	85	 
	13.5. Indemnification of the Sellers
	 	 	89	 
	13.6. Duration of Indemnification of the Sellers
	 	 	90	 
	13.7. Limitation on Indemnification of the Sellers
	 	 	91	 
	13.8. Procedure for Indemnification
	 	 	91	 
	13.9. Payment Limitation
	 	 	94	 
	13.10. Tax Matters
	 	 	94	 
	13.11. Exceptions
	 	 	97	 
	13.12. Exclusive Remedy
	 	 	98	 
	13.13. Mitigation
	 	 	98	 
	 
	 	 	 	 
	SECTION 14 TERMINATION OF AGREEMENT
	 	 	99	 
	14.1. Events of Termination
	 	 	99	 
	14.2. Consequences of Termination
	 	 	99	 
	 
	 	 	 	 
	SECTION 15 CONSENT TO JURISDICTION; SERVICE OF PROCESS;
DISPUTE RESOLUTION; WAIVER OF JURY TRIAL
	 	 	100	 
	15.1. General Disputes
	 	 	100	 
	 
	 	 	 	 
	SECTION 16 ENFORCEMENT OF CERTAIN PROVISIONS AND SPECIFIC PERFORMANCE
	 	 	101	 
	16.1. Enforcement of Certain Provisions
	 	 	101	 
	16.2. Specific Performance
	 	 	101	 

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	 	 	Page	 
	SECTION 17 GUARANTEE
	 	 	101	 
	17.1. Guaranty
	 	 	101	 
	17.2. No Impairment
	 	 	102	 
	17.3. Waiver
	 	 	102	 
	 
	 	 	 	 
	SECTION 18 BULK SALES LAW
	 	 	102	 
	 
	 	 	 	 
	SECTION 19 PUBLIC ANNOUNCEMENTS
	 	 	102	 
	 
	 	 	 	 
	SECTION 20 NOTICES
	 	 	102	 
	 
	 	 	 	 
	SECTION 21 EXTENSIONS AND WAIVERS
	 	 	104	 
	 
	 	 	 	 
	SECTION 22 ENTIRE AGREEMENT
	 	 	104	 
	 
	 	 	 	 
	SECTION 23 GOVERNING LAW; SERVICE OF PROCESS ON GUARANTOR
	 	 	104	 
	 
	 	 	 	 
	SECTION 24 TRANSFERABILITY; NO THIRD PARTY BENEFICIARIES
	 	 	105	 
	 
	 	 	 	 
	SECTION 25 SEVERABILITY
	 	 	105	 
	 
	 	 	 	 
	SECTION 26 COUNTERPARTS
	 	 	105	 

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LIST OF SCHEDULES

	 	 	 
	Schedule	 	Description
	DEF-A

	 	Collective Bargaining Agreements
	DEF-B

	 	Owned Real Property
	DEF-C

	 	Leased Real Property
	DEF-D

	 	Bulk ASUs
	DEF-E

	 	Bulk Intellectual Property
	DEF-F

	 	Excluded Assets – Equipment
	DEF-G

	 	Excluded Assets – Intellectual Property
	DEF-H

	 	(intentionally omitted)
	DEF-I

	 	(intentionally omitted)
	DEF-J

	 	Description of Jefferson Capital Improvement
	DEF-K

	 	Knowledge of the Sellers
	DEF-L

	 	Retained Litigation
	DEF-M

	 	(intentionally omitted)
	DEF-N

	 	(intentionally omitted)
	DEF-O

	 	(intentionally omitted)
	DEF-P

	 	Other Sites
	DEF-Q

	 	Excluded Assets – Contracts
	4.4(a)

	 	Capitalization and Ownership – Partnership Interests
	4.4(b)

	 	Capitalization and Ownership – Operating Company
	4.4(c)

	 	Capitalization and Ownership – No Other Rights
	4.4(e)

	 	Capitalization and Ownership – No Other Business/Operations
	4.5

	 	Ownership of Purchased Equity Interests
	4.6(c)

	 	No Violation – Liens
	4.6(d)

	 	No Violation – Material Permits
	4.6(e)

	 	No Violation – Material Contracts
	4.7

	 	Governmental Approvals
	4.9

	 	No Undisclosed Liabilities
	4.10

	 	No Business Material Adverse Effect
	4.11(a)(i)

	 	Good Title Exceptions
	4.11(a)(ii)

	 	Operating Condition Exceptions
	4.11(b)

	 	Vehicles and Equipment
	4.12

	 	Litigation and Proceedings
	4.15(a)

	 	Primary Domestic Patents and Patent Applications
	4.15(b)

	 	Third-Party IP Licenses
	4.15(h)

	 	IP Exceptions

-v-

 

	 	 	 
	Schedule	 	Description
	4.16(a)

	 	Owned Real Property Exceptions
	4.16(b)

	 	Lease Exceptions
	4.16(d)

	 	No Options
	4.17

	 	Material Permits
	4.18(a)

	 	Material Contracts
	4.18(a)(vii)

	 	Bulk IP Licenses
	4.18(b)

	 	Notice of Default or Termination
	4.18(c)

	 	Customer Contracts
	4.18(d)

	 	Resale Customer Contracts
	4.19(a)

	 	Material Customers
	4.20(a)

	 	Employee Benefit and Compensation Plans

	4.20(b)

	 	
Employee Benefit and Compensation Plan Compliance
	4.20(c)

	 	Termination of Employee Benefit and Compensation Plans; Liens
	4.20(d)

	 	Employee Benefit and Compensation Plan Liability
	4.20(e)

	 	Labor Certifications
	4.20(f)

	 	Business Employees
	4.21

	 	Compliance with Laws
	4.22

	 	Environmental
	4.23

	 	Taxes
	4.24

	 	Affiliate Arrangements
	5.4

	 	Governmental Approvals
	6.4(b)

	 	Non-Solicitation of Customers
	6.8

	 	Conduct of the Bulk Gas Business Prior to the Closing Date
	6.8(n)

	 	Capex Summary
	6.11(b)

	 	Primary Linde AG-Owned Licensed U.S. Patents
	6.11(e)

	 	Core Trademarks Included in Transitional Trademark License
	7.6

	 	Regulatory Consents
	7.8

	 	Contract Consents
	9.2

	 	Treatment of Annual Bonuses
	9.4(d)(i)

	 	Other Employee Matters
	9.4(d)(ii)

	 	Approved Leave
	13.2(c)

	 	Sellers’ Remediation Liabilities

-vi-

 

LIST OF EXHIBITS

	 	 	 
	Exhibit	 	Description
	A

	 	Carve-Out Principles
	B

	 	[Intentionally Omitted]
	C

	 	Transition Services Agreement
	D

	 	Working Capital Statement Principles
	E

	 	Product Supply Agreement
	F

	 	Financial Statements
	G

	 	Restructuring Terms
	H

	 	LCS License Agreement

-vii-

 

EQUITY PURCHASE AGREEMENT

          EQUITY PURCHASE AGREEMENT, dated as of November 22, 2006 (this “Agreement”), by and
among HOLOX (USA) B.V., a Netherlands private company with limited liability (“Seller A”),
HOLOX INC., a Georgia corporation (“Seller B” and, together with Seller A, the
“Sellers”), LINDE AKTIENGESELLSCHAFT, a German corporation (the “Guarantor”), and
AIRGAS, INC., a Delaware corporation (the “Purchaser”).

          WHEREAS, in accordance with the FTC Orders (as hereinafter defined), the Guarantor has been
required to segregate and hold separate assets and businesses that comprise a portion of the Bulk
Gas Business (as hereinafter defined) and dispose of such assets and businesses to a purchaser who
is approved by the FTC (as hereinafter defined);

          WHEREAS, currently, (a) Linde Gas Inc., a Delaware corporation (“Linde Inc.”), owns
approximately seventy-eight percent (78%) of the outstanding equity interests of Linde Gas LLC, a
Delaware limited liability company (the “Operating Company”), (b) Holox, Ltd., a Georgia
limited partnership (“Company A”), owns approximately fifteen percent (15%) of the
outstanding equity interests of the Operating Company, and (c) LifeGas I, Ltd., a Texas limited
partnership (“Company B” and, together with Company A, the “Companies”), owns the
remaining approximately seven percent (7%) of the outstanding equity interests of the Operating
Company;

          WHEREAS, following the Restructuring (as hereinafter defined), (a) the Operating Company will
own all of the Bulk Assets and no other material operating assets, (b) Company A will own
approximately sixty-eight percent (68%) of the outstanding equity interests of the Operating
Company and Company B will own the remaining approximately thirty-two percent (32%) of the
outstanding equity interests of the Operating Company and (c) Seller A will own ninety-nine percent
(99%) of the partnership interests (constituting limited partner interests) in each of Company A
and Company B (the “Purchased LP Interests”) and Seller B will own the remaining one
percent (1%) of the partnership interests (constituting general partner interests) in each of
Company A and Company B (the “Purchased GP Interests” and, together with the Purchased LP
Interests, the “Purchased Equity Interests”);

          WHEREAS, each of the Sellers is an indirect wholly owned Subsidiary of the Guarantor;

          WHEREAS, prior to the closing of the transactions contemplated by this Agreement, the
Guarantor and the Sellers shall use their reasonable best efforts to cause the transactions
contemplated by the Restructuring to occur; and

          WHEREAS, the Purchaser desires to purchase from the Sellers, and the Sellers desire to sell to
the Purchaser, all of the Purchased Equity Interests, upon the terms and subject to the conditions
set forth in this Agreement.

          NOW, THEREFORE, in consideration of the premises and the respective agreements hereinafter set
forth, and intending to be legally bound hereby, the parties hereto agree as follows:

-1-

 

SECTION 1

DEFINITIONS

     1.1. Definitions. The terms defined in this Section 1.1 shall have the following
meanings for the purposes of this Agreement:

          “2006 Bonus” has the meaning set forth in Section 9.2 hereof.

          “2007 Bonus” has the meaning set forth in Section 9.2 hereof.

          “Accounts Receivable” has the meaning set forth in the definition of “Bulk
Assets” contained in this Section 1.1.

          “Acquisition Proposal” has the meaning set forth in Section 6.9(a) hereof.

          “Action” means any action, claim, suit, demand, complaint, investigation or other
proceeding (at law, in equity or admiralty or otherwise), including any action, suit or demand for
personal injury or property damage.

          “Affiliate” of a Person means a Person that directly or indirectly, through one or
more intermediaries, controls or is controlled by or is under common control with such Person. For
purposes of this definition, the term “controls,” “is controlled by,” or “is under common control
with” means the possession, directly or indirectly, of the power to direct or cause the direction
of the management and policies of a Person, whether through the ownership of voting securities, by
contract or otherwise.

          “Affiliate Arrangements” has the meaning set forth in Section 4.24 hereof.

          “Agreement” has the meaning set forth in the preamble hereto.

          “Amended Purchaser Severance Plan” has the meaning set forth in Section 9.4(e)(ii)
hereof.

          “Appraisal” means a valuation of the tangible assets of the Companies and the
Operating Company performed by an appraiser under the premise of fair market value for continued
use in accordance with the Uniform Standards of Professional Appraisal Practices and Treasury
Regulation §1.170A-13(c)(3).

          “Atmospheric Gases” means oxygen, nitrogen and argon.

          “Atmospheric Gases Employees” means those employees identified on Confidential
Appendix A attached to the FTC Order that are not Business Employees.

          “Atmospheric Gases Plant” means a plant that produces Atmospheric Gases but excluding,
for the avoidance of doubt, any plants used in the conduct of the On-Site Business.

          “Auditor’s Consent” has the meaning set forth in Section 6.18(b) hereof.

          “Basket Amount” has the meaning set forth in Section 13.4(a) hereof.

-2-

 

          “Benefiting Party” has the meaning set forth in Section 6.22(d) hereof.

          “BGB Information” has the meaning set forth in Section 6.3(a) hereof.

          “BGB Sales Representatives” has the meaning set forth in Section 6.5(a) hereof.

          “BOC” means The BOC Group, Inc., a Delaware corporation.

          “BOC Business” means the businesses owned, operated or conducted by BOC Parent or its
subsidiaries as of the closing of the BOC/Linde Arrangement.

          “BOC Parent” means The BOC Group plc, a public limited company existing under and by
virtue of the laws of the United Kingdom.

          “Books and Records” means all books, records and other documents (whether on paper,
computer diskette, tape, electronic or other storage media) of each of the Sellers, each of the
Companies, the Operating Company and, if applicable, any of their respective Affiliates to the
extent relating to the Bulk Gas Business or the Bulk Assets (whether located at a Bulk ASU or
otherwise), including property records, production records, inventory information and records,
purchase and sales records, credit data, labor relations records, personnel records, accounting
records, financial reports, tax returns, maintenance and production records, environmental records
and reports, fixed asset lists, customer lists, customer databases, customer records and
information, supplier and vendor lists, parts lists, manuals, technical and repair data,
correspondence, files, blueprints, specifications, maps, surveys, building and machinery diagrams,
sale promotion literature and advertising materials, and any items that are similar to any of the
foregoing; provided that the Sellers shall be entitled to redact from the Books and Records
any information that does not relate in any manner to the Bulk Gas Business or the organization,
ownership and subsistence of the Companies or the Operating Company; and provided
further that the Books and Records need not include any information that relates to the
Excluded Businesses (including financial information and tax returns) or the Operating Company’s
operations (i) from which information relating to the Bulk Gas Business only is not separable
(after good faith efforts to do so) and (ii) that is not necessary for the conduct of the Bulk Gas
Business substantially as conducted as of the date hereof (it being understood that any
determination as to whether the circumstances described in clauses (i) or (ii) of this definition
of “Books and Records” applies to certain information shall be made by the Sellers in good faith).

          “Bulk Assets” means the Bulk ASUs, and includes all of rights, title and interests of
each of the Sellers, each of the Companies and the Operating Company to all tangible and intangible
assets, business and goodwill used at or necessary for the operation of the Bulk Gas Business,
including, but not limited to and subject to, the following:

          (a) (x) the Owned Real Property as set forth on Schedule DEF-B and, subject to obtaining the
necessary Consents, the Real Property Leases as set forth on Schedule DEF-C, together with all
buildings and Improvements thereon and all appurtenances, rights, easements, licenses and permits
appurtenant to or for the benefit of such Owned Real Property or
Leased Real Property and (y) the Real Property Rent Prepayments with respect to all periods from and
after the Closing Date;

-3-

 

          (b) petty and drawer cash on hand at any Owned Real Property or Leased Real Property on the
Closing Date;

          (c) the Bulk Equipment, as well as, to the extent transferable, all manufacturers’ warranties
associated with such Bulk Equipment and all rights of each of the Sellers, each of the Companies
and the Operating Company against suppliers of such Bulk Equipment, except to the extent required
by the Sellers or their Affiliates to pursue any claim they may have under any such warranty
relating to the period prior to the Closing or any Excluded Assets;

          (d) the Bulk Inventory, as well as, to the extent transferable, all manufacturers’ warranties
associated with such Bulk Inventory and all rights of each of the Sellers, each of the Companies
and the Operating Company against suppliers of such Bulk Inventory, except to the extent required
by the Sellers or their Affiliates to pursue any claim they may have under any such warranty or
right relating to the period prior to the Closing or any Excluded Assets;

          (e) the Bulk Intellectual Property;

          (f) deposits and prepaid expenses made as of and prior to the Closing, to the extent such
deposits and prepaid expenses relate to the Bulk Gas Business or the Bulk Assets from and after the
Closing Date (the “Prepaid Expenses”);

          (g) all claims, causes of action and guarantee rights of each of the Sellers, each of the
Companies and the Operating Company, with respect to the Bulk Assets, to the extent that they arise
from and after the Closing;

          (h) (x) except as provided in the Restructuring Terms, the Existing Customer Contracts, (y)
customer contracts with respect to the Bulk Gas Business entered into or approved on behalf of the
Bulk Gas Business by the Manager or the Trustee from and after the date hereof through the Closing
Date (each a “New Customer Contract”) (and at the Closing the Sellers shall provide to the
Purchaser a Schedule of the New Customer Contracts) and (z) customer contracts for the rental,
lease or other use, by customers of the Bulk Gas Business, of any Bulk Equipment, including
applications equipment located on the sites of such customers (together with the Existing Customer
Contracts and the New Customer Contracts, the “Customer Contracts”);

          (i) the Collective Bargaining Agreements which are set forth on Schedule DEF-A;

          (j) (j) all agreements, arrangements, contracts, leases (including operating leases),
conditional sales contracts, licenses, franchises, understandings, commitments and other binding
arrangements (including, but not limited to, dealer, distributor, supply, power and utility
contracts) (collectively, “Contracts”) to which either of the Sellers, either of the
Companies or the Operating Company is a party or by or to which the Bulk Assets are bound or
subject, and which relate primarily to, and to the extent they relate to, the Bulk Gas Business,
including (i) those set forth on Schedule 4.18(a); (ii) all Real Property Leases; (iii) the
Product Exchange Agreement, dated as of June 2, 2006, by and between the Operating Company and
Praxair Inc.; and (iv) as otherwise approved or entered into on behalf of the Bulk Gas Business

-4-

 

by the Manager or the Trustee from and after the date hereof (collectively, together with the Customer
Contracts and the Collective Bargaining Agreements, the “Bulk Contracts”), but excluding
any Employee Benefit and Compensation Plans (other than those transferring with the Bulk Gas
Business by operation of Law) and any IP Licenses other than Bulk IP Licenses;

          (k) all Permits held by each of the Sellers, each of the Companies and the Operating Company
used at or necessary for the operation of the Bulk Gas Business;

          (l) all Books and Records (except for Tax Books and Records) (provided that the Sellers may
retain a copy of all Books and Records);

          (m) all accounts receivable (including any security or collateral for such accounts
receivable) arising from the operation of the Bulk Gas Business or the Bulk Assets (such
receivables, the “Accounts Receivable”), but only to the extent such Accounts Receivable
are reflected in the calculation of Net Working Capital pursuant to this Agreement;

          (n) the benefit of and the right to enforce covenants and warranties (including any covenants
not to compete), if any, which each of the Sellers, each of the Companies and the Operating Company
are entitled to enforce with respect to the Bulk Assets or the Bulk Gas Business against any
current or former employee of the Bulk Gas Business; and

          (o) all goodwill associated with Bulk Gas Business or the Bulk Assets.

          “Bulk ASUs” means the Atmospheric Gases Plants of the Operating Company located at or
about the locations set forth on Schedule DEF-D.

          “Bulk Contracts” has the meaning set forth in the definition of “Bulk Assets”
contained in this Section 1.1.

          “Bulk Equipment” means all Specified Equipment, all Spare Parts, and all other types
of Equipment (including storage tanks, vessels and cylinders) that are (a) owned, leased, used or
held for use or ordered by either of the Sellers, either of the Companies or the Operating Company
(excluding cars owned or leased by the Operating Company and provided to Business Employees who are
not Transferred Employees) and (b) used in or necessary for the operation of the Bulk Gas Business,
including such Equipment (including applications equipment) that is located at the facilities of
customers of the Bulk Gas Business. For the avoidance of doubt, “Bulk Equipment” does not include
any Excluded Assets.

          “Bulk Gas Business” means the business, as of the date hereof, in each case as
conducted at, based out of, related to or serviced primarily by the facilities, business and
operations located at the Bulk ASUs, at sites listed on Schedule DEF-P, and, with respect to the
Microbulk business, at the sites where the Microbulk business is conducted in the United States
(it being understood that after the Closing, the Microbulk business will be conducted at the Bulk
ASUs) of (a) producing, refining, distributing, marketing, selling and/or supplying, manufacturing,
purchasing, preparing, purifying, transfilling, storing, packaging Atmospheric
Gases in liquid tankers, cryogenic storage equipment, tube trailers, portable liquid trailers,
transports, Microbulk delivery units and the pallet tanks associated with those Microbulk delivery
units, pipeline, and other related applications or equipment, (b) supplying gaseous

-5-

 

helium and
hydrogen in tube trailers and liquid carbon dioxide to any customer site serviced by the
facilities, business and operations located at the Bulk ASUs or at sites listed on Schedule DEF-P,
(c) distributing, marketing, selling and/or supplying bulk propane and bulk propylene, (d)
distributing, marketing, selling and/or supplying Atmospheric Gases in tube trailers, (e) providing
services that are related to the activities described in clauses (a) through (d) of this definition
of “Bulk Gas Business”; provided that, the “Bulk Gas Business” shall not include
the “Excluded Businesses.” For the avoidance of doubt, the assets to be divested in connection
with the Microbulk business shall be limited to Customer Contracts and Microbulk delivery units and
the pallet tanks and customer installations associated with those Microbulk delivery units.

          “Bulk Intellectual Property” means all Intellectual Property owned by the Operating
Company that relates exclusively to the Bulk Gas Business or the Bulk Assets, including the
Intellectual Property set forth on Schedule DEF-E (subject to the terms and conditions described
therein).

          “Bulk Inventory” means all inventory, including work-in-process, components, finished
goods, parts, supplies, raw materials and other similar items that is owned, leased, used or held
for use or resale by either of the Sellers, either of the Companies and the Operating Company and
that is used at or necessary for the operation of the Bulk Gas Business.

          “Bulk IP Licenses” has the meaning set forth in Section 4.18(a)(vii) hereof

          “Business Day” means any day other than Saturday, Sunday, or a day on which banks in
the State of New York are authorized or obligated by Law or executive Order to be closed.

          “Business Employees” means all employees of the Sellers or any of their respective
Affiliates, including the Companies and Operating Company, (i) who render services with respect to
the Bulk Gas Business and are set forth on Schedule 4.20(f), which Schedule 4.20(f) shall be
updated by the Sellers, subject to the Purchaser’s approval (other than employees hired to fill an
open position in the Ordinary Course of Business) of any additions, at least ten (10) days prior to
the Closing and periodically as the Purchaser may reasonably request through the Closing to include
deletion of any employee whose employment terminates prior to the Closing Date (or otherwise ceases
to render services with respect to the Bulk Gas Business) for any reason and to add, as applicable,
new hires, transferees and other persons designated as Business Employees in accordance with this
Agreement or as otherwise reasonably agreed between the Sellers and the Purchaser and (ii) those
employees determined to be Business Employees in accordance with Section 9.4(d).

          “Business Material Adverse Effect” means any event, circumstance, fact, development,
change or effect that is or would reasonably be expected to be materially adverse to the condition
(financial or otherwise), properties, liabilities or results of operations of the Bulk Gas Business
and the Companies and the Operating Company, taken as a whole, or that would
materially impair or delay the Sellers’ obligations under this Agreement or the other
Transaction Documents or the consummation of the transactions contemplated by this Agreement or the
Restructuring and the other Transaction Documents; provided, however, that none of
the

-6-

 

following shall be taken into account in determining whether there has been a Business Material
Adverse Effect: (i) a decline in the market price of any of the products of the Bulk Gas Business,
(ii) an increase in the price of raw materials used in the Bulk Gas Business, (iii) general
economic conditions, (iv) conditions generally affecting the industries in which the Bulk Gas
Business operates, and not affecting the Bulk Gas Business in a disproportionate manner, (v)
effects resulting from or related to the announcement, pendency or completion of the transactions
contemplated by, or the compliance by the Sellers with the terms of this Agreement or any other
purchase agreement between an Affiliate of the Guarantor and the Purchaser, including any related
loss of customers or employees (except for (x) any loss of customers or employees resulting from
the failure of the Sellers or any of their Affiliates to use commercially reasonable efforts to
prevent such loss of customers or employees and (y) any effects resulting from a breach of Sections
4.3, 4.6 or 4.7 of this Agreement) or (vi) any natural disaster or acts of war, sabotage,
terrorism, hostilities, military action or escalation or worsening thereof, except in the case of
this sub-clause (vi), to the extent that the Bulk Gas Business, the Companies or the Operating
Company is disproportionately affected thereby.

          “Carve-Out Principles” means the carve-out and allocation principles, procedures and
methodologies set forth on Exhibit A applied in connection with (i) the preparation of the
Year-End Audited Financial Statements and (ii) the preparation of the Interim Unaudited Financial
Statements.

          “CERCLA” means the Comprehensive Environmental Response, Compensation and Liability
Act (42 U.S.C. §§9601 et seq.), as amended, and any legally enforceable rules, regulations
and standards issued thereunder, in each case as of the Closing.

          “Claim Notice” means the notice defined in Section 13.8(a) hereof.

          “Closing” means the closing defined in Section 3.1 hereof.

          “Closing Date” means the date of closing as provided in Section 3.1 hereof.

          “Closing Date Payment” means an amount equal to four hundred ninety-four
million and eight hundred thousand dollars ($494,800,000) minus the outstanding amount of
any Retained Debt as of the Closing Date.

          “COBRA” means the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended.

          “Code” means the Internal Revenue Code of 1986, as amended (including any successor
code), and the rules and regulations promulgated thereunder.

          “Collective Bargaining Agreement” means any collective bargaining agreement and any
and all other agreements, understandings, contracts, letters, side letters and contractual
obligations of any kind, nature and description, oral or written, entered into between any “labor
organization” (as defined in Section 2(5) of the National Labor Relations Act) and any of the
Companies, the Operating Company, or any of their Affiliates that cover any Business Employee.

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          “Companies” has the meaning set forth in the recitals hereto.

          “Company A” has the meaning set forth in the recitals hereto.

          “Company B” has the meaning set forth in the recitals hereto.

          “Company Insurance Policies” has the meaning set forth in Section 6.15(b) hereof.

          “Condition” means a Release of a Hazardous Substance or a violation of an
Environmental Law that results in an Environmental Liability.

          “Confidentiality Agreement” means the Confidentiality Agreement, dated as of March 16,
2006, between the Guarantor and the Purchaser.

          “Consent” means any consent, approval, Order, ratification, authorization or action
of, or any filing, registration or declaration with, or any notice to any Person.

          “Contest” has the meaning set forth in Section 13.10(a)(i) hereof.

          “Contracts” has the meaning set forth in the definition of “Bulk Assets”
contained in this Section 1.1.

          “Copyrights” has the meaning set forth in the definition of “Intellectual
Property” contained in this Section 1.1.

          “Covered Claims” has the meaning set forth in Section 4.20(e)(iii) hereof.

          “Covered Customer” has the meaning set forth in Section 6.4(a) hereof.

          “Covered Losses” has the meaning set forth in Section 13.11(b) hereof

          “Covered Period” has the meaning set forth in Section 9.4(e)(i) hereof.

          “Credit Agreement” has the meaning set forth in Section 5.5 hereof.

          “Cryonite Business” means the Sellers’ and their Affiliates’ business of producing,
marketing, selling and supplying of industrial gases, equipment or know how in connection with pest
control or pest control applications.

          “Current Fiscal Year” has the meaning set forth in Section 9.4(f) hereof.

          “Customer Contracts” has the meaning set forth in the definition of “Bulk
Assets” contained in this Section 1.1.

          “Designated Agents” has the meaning set forth in Section 6.15(c) hereof.

          “Delivered Applications” has the meaning set forth in Schedule DEF-E.

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          “Deloitte” has the meaning set forth in Section 2.4(a) hereof.

          “Diminution in Value Losses” has the meaning set forth in Section 13.11(b) hereof.

          “Dispute” has the meaning set forth in Section 15.1(a) hereof.

          “Dollar”, “dollar” and “$” shall be references to United States
dollars.

          “EBITDA” means, for any given period, the sum of (i) net income (or loss), (ii) all
interest expense, (iii) all charges against income for federal, state and local taxes, (iv) all
depreciation expense, (v) all amortization expense and (vi) cost sharing payments to AGA AB for
reimbursement of product marketing and development, administrative support services and other
non-stewardship related expenses. “EBITDA,” to the extent relating to the Bulk Gas
Business, shall be determined and calculated in accordance with the Carve-Out Principles.

          “ECOVAR Business” means the Sellers’ and their Affiliates’ business of producing,
refining, marketing, selling and supplying of air gases, hydrogen or other gases (up to a capacity
of 200 tons per day) from production facilities and related distribution systems that utilize
membrane, adsorption, cryogenic, fuel cell, electrolytic, or other technologies. For the avoidance
of doubt, ECOVAR Business includes all liquid or gaseous products that the customer consumes at the
site whether directly related to the on-site production facility or not.

          “Employee Benefit and Compensation Plans” means any plan, program, arrangement or
agreement that is a pension, profit-sharing, savings, retirement, employment, consulting, severance
pay, termination, executive compensation, incentive compensation, deferred compensation, bonus,
stock purchase, stock option, phantom stock or other equity-based compensation, change-in-control,
retention, salary continuation, vacation, sick leave, disability, death benefit, group insurance,
hospitalization, medical, dental, life (including all individual life insurance policies as to
which any of the Companies or the Operating Company is the owner, fiduciary, beneficiary,
administrator or any combination thereof), Code Section 125 “cafeteria” or “flexible” benefit,
employee loan, educational assistance or fringe benefit plan, whether written or oral, including
any (i) “employee benefit plan” within the meaning of Section 3(3) of the Employee Retirement
Income Security Act of 1974, as amended (“ERISA”), or (ii) other employee benefit plan,
agreement, program, policy, arrangement or payroll practice, whether or not subject to ERISA
(including any funding mechanism therefor now in effect or required in the future as a result of
the transaction contemplated by this Agreement or otherwise), in each such case maintained by or
contributed to by any of the Companies, the Operating Company or any their ERISA Affiliates for the
benefit of any Business Employee, whether any such Business Employee has any past, present or
future right to benefits, or otherwise in respect of which any of the Companies, the Operating
Company or any of their ERISA Affiliates have any liability with respect to any Business Employee.

          “Employment Claims” has the meaning set forth in Section 4.20(e) hereof.

          “Employment Requirements” has the meaning set forth in Section 9.4(l)(i) hereof.

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          “Environmental Basket Amount” has the meaning set forth in Section 13.4(a)(ii) hereof.

          “Environmental Cap” has the meaning set forth in Section 13.4(a)(ii) hereof.

          “Environmental Laws” means all applicable Laws in effect as of the Closing (except
with respect to Excluded Bulk Gas Environmental Liabilities and subsection (n) of the definition of
Excluded Liabilities for which Environmental Laws shall mean all applicable Laws in effect on or
after the Closing), that address or are related to the pollution or protection of the environment,
including animal and plant life and the protection of human health and safety as they may be
affected by exposure to Hazardous Substances, including the CERCLA; the Hazardous Materials
Transportation Authorization Act of 1994 (49 U.S.C. §§5101 et seq.); the Federal
Insecticide, Fungicide, and Rodenticide Act (7 U.S.C. §§136 et seq.); the Solid Waste
Disposal Act (42 U.S.C. §§6901 et seq.); the Toxic Substance Control Act (15 U.S.C. §§2601
et seq.); the Clean Air Act (42 U.S.C. §§7401 et seq.); the Federal Water Pollution
Control Act (33 U.S.C. §§1251 et seq.); and the Safe Drinking Water Act (42 U.S.C. §§300(f)
et seq.).

          “Environmental Liabilities” means all obligations or Losses (including obligations or
Losses arising out of legal notices, Actions or other assertion of obligation or liability),
resulting or arising from or under (a) any Environmental Law, (b) any Release of, or potential
Release of, or exposure to, any Hazardous Substance, or (c) an enforceable Order issued or imposed
under or pursuant to an Environmental Law.

          “Environmental Losses” has the meaning set forth in Section 13.4(a)(ii) hereof.

          “Environmental Permit” means any Permit that is authorized or required pursuant to an
Environmental Law.

          “EPSoftware” has the meaning set forth in Section 6.11(h) hereof.

          “Equipment” means tangible personal property, including all plant equipment, gas
pipelines and related applications or equipment, bulk tanks, liquid tankers or trailers (including
tube trailers and portable liquid trailers), cryogenic storage equipment, Microbulk delivery units
and the pallet tanks associated with those Microbulk delivery units, telemetry equipment, portable
product storage and delivery systems, cylinders, dewars, and other containers or vessels,
furniture, appliances, fixtures, computer hardware, dispatch facilities and equipment terminals,
servers, systems and related items, data and voice telecommunications equipment, furnishings,
tools, piping, valves, regulators, compressors, vaporizers, liquefiers, machinery, spare parts and
similar equipment and fork lifts and motor vehicles and other delivery or distribution equipment
(including trucks, tractors, trailers and rail cars).

          “ERISA” has the meaning set forth in the definition of “Employee Benefit and
Compensation Plans” contained in this Section 1.1.

          “ERISA Affiliate” means as to any Person, any other Person, whether or not
incorporated, which together with such Person would be deemed, at any time through the Closing
Date, a single employer within the meaning of Section 4001 of ERISA or Section 414(b), (c), (m) or
(o) of the Code.

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          “ERISA Affiliate Liability” means any obligation, liability or expense of either of
the Sellers, either of the Companies or the Operating Company which arises under or relates to any
Employee Benefit and Compensation Plan that is subject to Title IV of ERISA, Section 302 of ERISA,
Section 412 of the Code, COBRA or any other statute or regulation that imposes liability on a
so-called “controlled group” basis with or without reference to any provision of Section 414 of the
Code or Section 4001 of ERISA, including by reason of the Sellers’ affiliation with any of its
ERISA Affiliates or the Purchaser being deemed a successor to any ERISA Affiliate of either of the
Sellers.

          “Excepted Representations” has the meaning set forth in Section 13.3 hereof.

          “Excluded Assets” means all tangible and intangible assets and property of the
Guarantor or any of its Affiliates used with respect to the Excluded Businesses (except to the
extent such assets or property constitute Bulk Assets) or that is not included in the Bulk Assets,
including the following assets of the Guarantor and its Affiliates:

          (a) cash on hand or in banks, other than petty and drawer cash on hand at the Owned Real
Property or Leased Real Property on the Closing Date;

          (b) copies of all Books and Records;

          (c) all Equipment owned, leased, used or held for use by the Sellers or their Affiliates that
does not constitute Bulk Equipment, including all Equipment set forth on Schedule DEF-F;

          (d) all inventory owned, leased, used or held for use or resale by the Sellers or their
Affiliates in the Excluded Businesses and that does not otherwise constitute Bulk Inventory;

          (e) all Intellectual Property owned, licensed, used or held for use by the Sellers or their
Affiliates that does not otherwise constitute Bulk Intellectual Property and does not relate
exclusively to the Bulk Gas Business or the Bulk Assets, including the Intellectual Property listed
on Schedule DEF-G, subject, as applicable, to the licenses described in Section 6.11;

          (f) all contractual rights under or relating to any Contract that is not a Bulk Contract
including those set forth on Schedule DEF-Q;

          (g) any rights to Tax refunds, credits or similar benefits attributable to any Taxes with
respect to the Bulk Gas Business or the Bulk Assets for any Pre-Closing Tax Period;

          (h) any originals or copies of Tax Returns of the Sellers or any of its Affiliates (including
the Companies and the Operating Company); and

          (i) all rights of the Sellers under the Transaction Documents.

          “Excluded Businesses” means any business or operations of either of the Sellers or any
of their Affiliates, currently or formerly operated, other than the Bulk Gas Business, including
the (i) business of producing, refining, distributing, marketing, selling and/or

-11-

 

supplying, manufacturing, purchasing, preparing, purifying, transfilling, storing, packaging
Atmospheric Gases in liquid tankers, cryogenic storage equipment, tube trailers, portable liquid
trailers, transports, Microbulk delivery units and the pallet tanks associated with those Microbulk
delivery units, pipeline, medical van fills, and other related applications or equipment, in each
case, as conducted at, based out of, related to or serviced primarily by the facilities, business
and operations other than the Bulk ASUs and the sites listed on Schedule DEF-P, (ii) business of
supplying gaseous helium and hydrogen in tube trailers and liquid carbon dioxide to all other
customer sites serviced primarily by the facilities, business and operations other than at the Bulk
ASUs or at sites listed on Schedule DEF-P, (iii) BOC Business, (iv) Packaged Gas Business, (v) INO
Therapeutics Business, (vi) ECOVAR Business, (vii) Tonnage Air Gas Business, (viii) HYCO Business,
(ix) Cryonite Business, (x) Other Major Engineering Projects and Businesses, (xi) TMG Business,
(xii) Spectra Gases Business, (xiii) LAG Methanol Business, (xiv) carbon dioxide dry cleaning
business and (xv) any business performed with the Excluded Assets.

          “Excluded Bulk Gas Environmental Liabilities” means any Environmental Liabilities and
any other obligation, liability or expense under or relating to any Environmental Law or Hazardous
Substances or otherwise relating to the environment to the extent arising out of or relating to (i)
real property formerly, but not currently, owned, leased, occupied or operated in connection with
the Bulk Gas Business, (ii) real property, other than the Real Property or locations contiguous to
the Real Property (but only to the extent that such contiguous real property has become
contaminated by a Release from the Real Property), where waste generated, disposed or handled in
connection with the Bulk Gas Business has come to be located and (iii) any other aspect of the Bulk
Gas Business not relating to the Owned Real Property or the Leased Real Property or the Bulk
Assets.

          “Excluded Liabilities” means the following obligations, liabilities or expenses
(regardless of when such obligations, liabilities or expenses accrue or become known) of the
Companies and/or the Operating Company (and any of their pre-Closing Affiliates), except to the
extent, in each case, any such liability, obligation or expense is included as a liability in the
calculation of Net Working Capital:

          (a) any obligation, liability or expense arising from the Restructuring or any Affiliate
Transaction;

          (b) any obligation, liability or expense arising from (i) any of the Excluded Businesses and
(ii) any of the Excluded Assets (for the avoidance of doubt, the parties agree that the generality
of this sub-section (b) shall not be limited or affected by the fact that any of the other
sub-sections of this definition of Excluded Liabilities is more specific or limited in any manner);

          (c) any indebtedness of either of the Sellers, any of the Companies, the Operating Company or
any of their respective Affiliates (including indebtedness for borrowed money (including accrued
interest)) and Liens relating thereto, in either case, incurred prior to the Closing, other than
accounts payable arising from the operation of the Bulk Gas Business or the Bulk Assets and other
liabilities, in either case, to the extent such accounts payable are reflected in the calculation
of Net Working Capital, except for the Retained Debt;

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          (d) any obligation, liability or expense (including any Actions and the Retained Litigation)
to the extent arising out of (i) the conduct of the Bulk Gas Business by either of the Sellers,
either of the Companies, the Operating Company or any of their respective Affiliates, as applicable
(or any of their predecessors) prior to the Closing Date (regardless of when such obligation,
liability or expense accrues or becomes known) or (ii) the ownership or operation of either of the
Companies, the Operating Company or the Bulk Assets prior to the Closing Date (regardless of when
such obligation, liability or expense accrues or becomes known);

          (e) any obligation, liability or expense to the extent arising out of (i) the manufacture,
sale or lease by either of the Sellers, either of the Companies, the Operating Company or any of
their respective Affiliates, as applicable (or any predecessors thereof) of any defective product
or equipment prior to the Closing Date, (ii) any failure by either of the Sellers, either of the
Companies, the Operating Company or any of their respective Affiliates (or any predecessor thereof)
to warn any Person with respect to any of its products or equipment supplied prior to the Closing
Date, or (iii) the breach by either of the Sellers, either of the Companies, the Operating Company
or any of their respective Affiliates, as applicable (or any predecessor thereof) of any express or
implied warranty made in connection with the manufacture, sale or lease of any products or
equipment prior to the Closing Date;

          (f) any obligation, liability or expense related to or arising out of (i) any Contract (or
portion thereof) that does not constitute a Bulk Contract, (ii) any lease or sublease of real
property other than the Real Property Leases, (iii) Bulk Contracts for pre-Closing time periods
(regardless of when such obligation, liability or expense accrues or becomes known) or (iv) the
Retained Litigation;

          (g) any obligation, liability or expense relating to claims of any Third Parties, whenever
arising or asserted, alleging violation or infringement of any Intellectual Property rights prior
to the Closing;

          (h) except as otherwise provided under Section 9, any obligation, liability or expense
relating to or arising out of any (i) existing Employee Benefit and Compensation Plan, (ii) former
Employee Benefit and Compensation Plan which has been terminated or frozen or (iii) ERISA Affiliate
Liability;

          (i) except as otherwise provided under Section 9, any obligation, liability or expense (i)
relating to any Collective Bargaining Agreement not set forth on Schedule DEF-A or (ii) incurred
prior to the Closing (regardless of when such obligation, liability or expense accrues or becomes
known) under any Collective Bargaining Agreement set forth on Schedule DEF-A;

          (j) except as otherwise provided under Section 9, any obligation, liability or expense
relating to or arising out of (i) the employment or termination of employment of any current or
former Business Employee occurring prior to the Closing, (ii) the employment practices of the
Sellers or any of its Affiliates occurring prior to the Closing or (iii) compliance with or
violations of any Labor Laws prior to the Closing;

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          (k) any obligation, liability or expense relating to workers’ compensation claims and
occupational health claims against either of the Companies or the Operating Company for accidents
or injuries that occurred prior to the Closing;

          (l) except as set forth in Section 12, any obligation, liability or expense of any kind or
nature relating to Taxes of either of the Sellers, either of the Companies, the Operating Company
or any of their respective Affiliates, or with respect to the Purchased Equity Interests or the
Bulk Gas Business, for any Pre-Closing Tax Period (including any obligation, liability or expense
pursuant to any Tax Sharing Agreement (whether written or not) or by reason of being a
successor-in-interest or transferee of another entity or any liability under Treasury Regulation
§1.1502-6, Treasury Regulation §1.1502-78, or similar provision of state, local or foreign law) or
in connection with the transactions contemplated hereby and by the Restructuring Terms;

          (m) except as otherwise set forth in this Agreement, all obligations, liabilities or expenses
(including for any accounting, legal, investment banking, brokerage or similar fees or expenses)
incurred by each of the Sellers, each of the Companies, the Operating Company and each of their
respective Affiliates in connection with the negotiation and preparation of this Agreement and the
consummation of the transactions contemplated hereby;

          (n) any Environmental Liabilities and any other obligation, liability or expense under or
relating to any Environmental Law or Hazardous Substance or otherwise relating to the environment
to the extent arising out of or relating to the Excluded Businesses, or any other business
currently or formerly operated other than the Bulk Gas Business; or

          (o) any Excluded Bulk Gas Environmental Liabilities.

Notwithstanding the foregoing, Environmental Liabilities and any other obligation, liability or
expense under or relating to any Environmental Law or Hazardous Substance or otherwise relating to
the environment to the extent arising out of or relating to the Real Property or the Bulk Assets
shall not be deemed included among the “Excluded Liabilities. For the avoidance of doubt, to the
extent that any Governmental Body or any other Person requires any Contract to be novated in
connection with the transactions contemplated hereby, to the extent that such novation conflicts
with the terms of this Agreement, then the provisions of this Agreement shall control as between
the parties hereto.

          “Existing Customer Contract” means a contract with a customer of the Bulk Gas Business
set forth on Schedule 4.18(c).

          “Final Closing NWC Amount” means the Net Working Capital of the Bulk Gas Business as
of the Closing Date, as determined in accordance with the Working Capital Statement Principles.

          “Final Allocation Schedule” has the meaning set forth in Section 2.4(a) hereof.

          “Financial Statements” has the meaning set forth in Section 4.8(a) hereof.

          “Financing” has the meaning set forth in Section 5.5 hereof.

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          “Framework Agreement” means the agreement, dated the 24th day of February
2006, by and between Airgas, Inc. and Guarantor, as amended by the supplement, dated the
21st day of June 2006.

          “FTC” has the meaning set forth in Section 4.7 hereof.

          “FTC Orders” means, collectively, the Agreement Containing Consent Orders (File No.
061-0114), dated as of July 18, 2006, the Order to Hold Separate and Maintain Assets (Docket No.
C-4163), issued as of September 5, 2006, and the Decision and Order (Docket No. C-4163), issued as
of September 5, 2006, in the case of In the Matter of Linde AG, a corporation before the FTC, and
The BOC Group plc, a corporation before the FTC, and each agreement, instrument, order, and other
document issued or entered into in connection with or related to the foregoing, including the
trustee agreement with the Trustee and the manager agreement with the Manager.

          “GAAP” means United States generally accepted accounting principles, as in effect from
time to time.

          “Governmental Body” means (a) any United States federal, state or local or foreign
government (or political subdivision thereof), (b) any agency or instrumentality of any such
government (or political subdivision thereof), (c) any non-governmental regulatory or
administrative authority, body or other organization (to the extent that the rules, regulations,
standards, requirements, procedures and Order of such authority, body or other organization have
the force of Law) and (d) any United States federal, state or local or foreign court or tribunal.

          “Guarantor” has the meaning specified in the preamble hereto.

          “Guarantor Agent” has the meaning set forth in Section 23 hereof.

          “Guaranty” has the meaning specified in Section 17.1 hereof.

          “Hazardous Substance” has the meaning defined in Section 101(14) of CERCLA, plus oil
and petroleum (in any form or derivative), asbestos, PCBs, and any other substance defined or
regulated as hazardous or other term of similar import under any Environmental Law.

          “HYCO Business” means Sellers’ and their Affiliates’ business of producing, refining,
packaging, marketing, selling and supplying of hydrogen, carbon monoxide, synthesis gas, methanol
or any other chemical gases or liquids in any quantity from production facilities and related
distribution systems that utilize hydrocarbon reforming, gasification or other technologies.

          “Imprinted Containers” has the meaning set forth in Section 6.11(d) hereof.

          “Improvements” has the meaning set forth in Section 4.16(c) hereof.

          “Indemnified Party” has the meaning set forth in Section 13.8(a) hereof.

          “Indemnifying Party” has the meaning set forth in Section 13.8(a) hereof.

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          “Independent Accountant” means PricewaterhouseCoopers LLP or, if such firm is not able
to accept the assignment contemplated hereunder, another independent accounting firm, which in each
such case shall be jointly engaged by, and mutually agreeable to, the Purchaser and the Sellers and
shall not be affiliated with the either the Purchaser or the Sellers or have conducted business
with either the Purchaser or the Sellers during the previous two (2) years.

          “INO Therapeutics Business” means the business of INO Therapeutics, a multi-national
specialty pharmaceutical company, with core competencies in development of late stage drugs and
marketing of pharmaceuticals and delivery devices.

          “Intellectual Property” means all rights in any and all of the following:

          (a) patents, patent applications and inventions, designs and improvements described and
claimed therein, patentable inventions and other patent rights (including any divisions,
continuations, continuations-in-part, substitutions, or reissues thereof, whether or not patents
are issued on any such applications and whether or not any such applications are modified,
withdrawn, or resubmitted (“Patents”);

          (b) trademarks, service marks, trade dress, trade names, brand names, designs, logos,
corporate names, domain names and other source indicators, whether registered or unregistered, and
all registrations and applications for registration thereof, including the goodwill of the business
symbolized thereby or associated therewith (“Trademarks”);

          (c) copyrights and mask works, including all renewals and extensions thereof, copyright
registrations and applications for registration thereof, and non-registered copyrights
(“Copyrights”);

          (d) trade secrets, confidential business information, technical information and other
proprietary information, concepts, ideas, designs, processes, procedures, techniques, technical
information, specifications, operating and maintenance manuals, engineering drawings, methods,
know-how, technical data, quality control data and databases, reports, discoveries, inventions,
modifications, extensions, improvements, research materials and other proprietary rights (whether
or not patentable or subject to copyright, mask work, or trade secret protection) (“Trade
Secrets”);

          (e) computer software programs, including Off-the-Shelf-Software, and all source code, object
code, and manuals and documentation related thereto (but, for the avoidance of doubt, excluding any
information transmitted by or stored within any computer software programs or any reports generated
by the use of the foregoing, any of which are covered in subsection (d)) (“Software”); and

          (f) all rights to sue at law or in equity for any infringement, misappropriation or other
impairment of any of the foregoing and the right to collect damages and proceeds therefrom;
provided, that such rights shall be excluded from the definition of “Intellectual Property”
for the purposes of the licenses described in Section 6.11.

          “Interim Unaudited Financial Statements” has the meaning set forth in Section 4.8(a)
hereof.

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          “IP Licenses” means all licenses, sublicenses and other agreements or permissions
related to Intellectual Property.

          “IRS” has the meaning set forth in Section 4.23(m).

          “Jefferson Capital Improvement” means the installation of a new 220 ton per day (TPD)
liquefier at the Atmospheric Gases plant located in Jefferson, Georgia, as described on Schedule
DEF-J in accordance with the Operating Company’s plans therefor as of the date hereof.

          “knowledge of the Sellers” means the actual knowledge, after due inquiry consistent
with such individual’s area of responsibility, of the individuals set forth on Schedule DEF-K.

          “Labor Laws” means any and all applicable foreign and U.S.-based federal, state and
local Laws relating in any manner to employment, employees and/or individuals performing work as
consultants or contractors, including employment standards, employment of minors, employment
discrimination, health and safety, labor relations, unions, withholding, wages and hours, overtime,
employee benefits and benefit plans of any kind, workplace safety and insurance and pay equity.

          “LAG Methanol Business” means the business of LaPorte Methanol Company, L.P., an
entity in which Guarantor has a fifteen percent (15%) indirect ownership interest, and Lyondell
Chemical Company has an eighty-five percent (85%) indirect ownership interest, and which operates a
methanol plant in LaPorte, Texas.

          “Law” means any applicable federal, state, local or foreign law, statute, ordinance,
rule, regulation, binding standard, Order or code, enacted, promulgated, adopted, enforced or
applied by any Governmental Body, all as in effect from time to time.

          “LCS License Agreement” means the non-exclusive license from Guarantor to the
Purchaser to use the LCS (Liquid Control System) software and related documentation, subject to the
terms and conditions set forth therein, substantially in the form attached hereto as Exhibit
H.

          “Leased Real Property” means the land, buildings, structures, fixtures and other
Improvements leased by the Operating Company and set forth on Schedule DEF-C.

          “Licensees” shall have the meaning set forth in Section 6.11(a) hereof.

          “Liens” means any pledges, liens, conditional sales contracts, mortgages, deeds of
trust, charges, transfer restrictions (other than the requirements of applicable Laws), security
interests, easements, rights-of-way, servitudes, encroachments, survey defects and encumbrances
relating to such property or property interest.

          “Linde Inc.” has the meaning set forth in the recitals hereto.

-17-

 

          “Linde Severance Plan” means the severance plan maintained by the Operating Company as
of the date hereof.

          “Losses” has the meaning set forth in Section 13.2 hereof.

          “Manager” means the manager appointed by the FTC to manage the Bulk Gas Business
pursuant to the FTC Orders.

          “Material Contracts” means the Real Property Leases and the Bulk Contracts identified
on Schedule 4.18(a).

          “Material Customers” has the meaning set forth in Section 4.19(a) hereof.

          “Material Permits” has the meaning set forth in Section 4.17 hereof.

          “Material Restriction” has the meaning set forth in Section 6.6(c) hereof.

          “Maximum Amount” has the meaning set forth in Section 13.4(a) hereof.

          “Microbulk” means liquid oxygen, nitrogen, argon and carbon dioxide delivered to
customers using ‘Orca’ delivery units or similar units of a different manufacturer.

          “Minimum Claim Amount” has the meaning set forth in Section 13.4(a) hereof.

          “Minimum Financial Claim Amount” has the meaning set forth in Section 13.4(a) hereof.

          “MultiEmployer Plan” has the meaning set forth in Section 4.20(a) hereof.

          “Multi Location Customer” has the meaning set forth in Section 6.4(b) hereof.

          “Net Working Capital” means, with respect to the Bulk Gas Business, an amount equal to
(i) the sum of all Accounts Receivable, Bulk Inventory, Real Property Rent Prepayments and Prepaid
Expenses and Prepaid Property Taxes determined in accordance with the Working Capital Statement
Principles less (ii) all Trade Payables and Property Tax Accruals, determined in accordance
with the Working Capital Statement Principles; it being understood that the numerical value of the
foregoing equation may be less than zero (0) if the numerical value of clause (i) is less
than the numerical value of clause (ii) of this sentence.

          “New Customer Contracts” has the meaning set forth in the definition of “Bulk
Assets” contained in this Section 1.1.

          “New Employment Contract” has the meaning set forth in Section 6.8(i) hereof.

          “Non-Competition Agreement” has the meaning set forth in Section 4.20(h) hereof.

          “Non-Solicitation Period” has the meaning set forth in Section 6.4(a) hereof.

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          “Objection Notice” has the meaning set forth in Section 2.3(b) hereof.

          “Off-the-Shelf Software” means off-the-shelf personal computer Software as such term
is commonly understood, that is commercially available under non-discriminatory pricing terms on a
retail basis for less than five hundred dollars ($500) per seat and ten thousand dollars ($10,000)
in the aggregate, and used solely on personal computers.

          “On-Site Business” means Sellers’ and their Affiliates ECOVAR Business, Tonnage Air
Gas Business and HYCO Business.

          “Operating Company” has the meaning set forth in the recitals hereto.

          “Order” means any legally enforceable orders, judgments, injunctions, awards,
decisions, decrees or writs or any executive, administrative, legislative or judicial proclamation,
in each case, of any Governmental Body.

          “Ordinary Course of Business” means the ordinary course of business, consistent with
past practice, of the Bulk Gas Business, as conducted by each of the Sellers, each of the
Companies, the Operating Company and each of their respective Affiliates, as applicable.

          “Other Major Engineering Projects and Business” means those projects carried out by
the Guarantor or its Affiliates in the United States with regard to the engineering, procurement,
and construction of any facility within the Guarantor’s portfolio, including specific customer
engineering projects for Process Equipment used in Gas Applications installations.

          “Owned Real Property” means the real property owned by the Operating Company
identified on Schedule DEF-B, including all of the buildings, structures, fixtures and other
Improvements owned by each of the Sellers, each of the Companies and the Operating Company, as
applicable, located thereon.

          “Packaged Gas Business” means the Sellers’ and their Affiliates’ business in the
United States of (a) producing, preparing, transfilling, packaging, marketing, distributing,
exporting, selling and supplying industrial, medical and specialty gases in Packaged Gas Business
Containers, (b) preparing, transfilling, packaging, marketing, distributing, exporting, selling and
supplying process chemicals (in either gas or liquid form) and (c) distributing, marketing,
supplying as a reseller, distributor or lessor equipment and supplies (including welding equipment,
welding consumables, safety equipment and supplies and related products) and materials.

          “Packaged Gas Business Containers” means cylinders, dewars, lecture bottles, pallet
tanks not serviced by Microbulk units, bulk storage equipment (including bulk fuel tanks, bulk
cryogenic tanks, and tube trailers) that are used in filling facilities, and bulk-acetylene
trainers.

          “Patents” has the meaning set forth in the definition of “Intellectual
Property” contained in this Section 1.1.

          “Partnership Interests” has the meaning set forth in Section 4.4(a) hereof.

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          “PBGC” means the Pension Benefit Guaranty Corporation.

          “Permits” means all licenses, permits, consents, waivers, authorizations, Orders,
registrations and approvals of any Governmental Body currently held or being applied for by each of
the Sellers, each of the Companies and the Operating Company, as applicable, in connection with the
Bulk Gas Business or the Bulk Assets.

          “Permitted Liens” means (a) unperfected mechanics’, carriers’, workers’, repairer’s,
purchase money security interest and other similar Liens arising or incurred in the Ordinary Course
of Business (i) related to obligations as to which (x) there is no default on the part of the
Operating Company and (y) the Operating Company has not received written notice of the commencement
of foreclosure actions with respect thereto and (ii) that are not in the aggregate substantial in
amount, and (b) Liens for Taxes that are not in default or delinquent or that are being contested
in good faith by appropriate proceedings and that are not in the aggregate substantial in amount;
and (c) Permitted Real Property Exceptions.

          “Permitted Real Property Exceptions” means such Liens that do not, individually or in
the aggregate, (i) interfere significantly with the use, occupancy or operation of the Real
Property as currently used, occupied and operated in connection with the Bulk Gas Business, (ii)
materially reduce the fair market value of the Real Property below the fair market value that the
Real Property (as currently used, operated and occupied in connection with the Bulk Gas Business)
would have had but for such encumbrances or (iii) Liens on the estate of the owner or lessor of
Leased Real Property which do not significantly affect the use or operation of the Real Property as
it is used or operated as of the date hereof.

          “Person” means an individual, a partnership, a joint venture, a limited liability
company, a corporation, a trust, a firm, an association, an unincorporated organization, a
Governmental Body and any other entity whatsoever.

          “Post-Closing Payment Statement” has the meaning set forth in Section 2.3(a) hereof.

          “Pre-Closing Covenants” has the meaning set forth in Section 13.3 hereof.

          “Pre-Closing Tax Period” shall mean (a) any Tax period ending on or prior to the
Closing Date and (b) with respect to a Tax period that commences before but ends after the Closing
Date, the portion of such period up to and including the Closing Date.

          “Post-Signing Returns” has the meaning set forth in Section 6.14(a) hereof.

          “Prepaid Expenses” has the meaning set forth in the definition of “Bulk
Assets” contained in this Section 1.1.

          “Prepaid Property Taxes” means prepaid real and personal property taxes applicable to
the Bulk Assets or the Bulk Gas Business (including any payments made under an Industrial District
Agreement or similar agreement).

          “Product Supply Agreement” has the meaning specified in Section 3.2(d) hereof.

-20-

 

          “Property Tax Accruals” means accruals for real and personal property taxes applicable
to the Bulk Assets or the Bulk Gas Business (including any payments made under an Industrial
District Agreement or similar agreement).

          “Purchase Location” has the meaning set forth in Section 6.4(a) hereof.

          “Purchase Price” has the meaning set forth in Section 2.2(a) hereof.

          “Purchased Equity Interests” has the meaning set forth in the recitals hereto.

          “Purchased GP Interests” has the meaning set forth in the recitals hereto.

          “Purchased LP Interests” has the meaning set forth in the recitals hereto.

          “Purchased Product” has the meaning set forth in Section 6.4(a) hereof.

          “Purchaser” has the meaning set forth in the preamble hereto.

          “Purchaser 401(k) Plan” has the meaning set forth in Section 9.4(h) hereof.

          “Purchaser Indemnitees” has the meaning set forth in Section 13.2 hereof.

          “Purchaser Information” has the meaning set forth in Section 6.3(b) hereof.

          “Purchaser Parties” has the meaning set forth in Section 6.1(a) hereof.

          “Purchaser Subsidiary” means any wholly-owned direct or indirect Subsidiary of the
Purchaser.

          “Purchaser Terminated Employee” has the meaning set forth in Section 9.3 hereof.

          “Purchaser’s Allocation Schedule” has the meaning set forth in Section 2.4(a) hereof.

          “Real Property” means the Owned Real Property and the Leased Real Property.

          “Real Property Leases” means the leases, subleases and other agreements pursuant to
which the Operating Company occupies the Leased Real Property.

          “Real Property Rent Prepayments” means the rights in respect of all prepayments of
rents made by each of the Sellers, each of the Companies and the Operating Company, as applicable,
under the Real Property Leases.

          “Release” means any releasing, spilling, leaking, pumping, pouring, emitting,
emptying, discharging, injecting, escaping, leaching, dumping, discarding or disposing into the
environment.

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          “Remediation” means any removal, remedial and/or response actions, as those activities
are defined and used in CERCLA and other Environmental Laws and all investigations, samplings and
assessments incident thereto.

          “Restrictive Covenants” has the meaning set forth in Section 6.4(c) hereof.

          “Restructuring” has the meaning set forth in Section 6.22(a) hereof.

          “Restructuring Terms” means those transactions, and the terms therefor, set forth on
Exhibit G.

          “Retained Debt” means any portion of the indebtedness for borrowed money (including
principal, accrued interest and associated costs, expenses, fees or repayment penalties) of the
Operating Company or any of the Companies, on the one hand, and any Affiliates of the Sellers
(other than the Companies and the Operating Company), on the other hand; provided that the
amount of the Retained Debt shall not exceed $494,800,000.

          “Retained Litigation” means litigation pending as of the date hereof as set forth in
Schedule DEF-L, or as may be added to such schedule by the Sellers in their sole discretion prior
to the Closing and, with respect to litigation relating to the Bulk Gas Business, with consent of
the Purchaser.

          “Retaining Party” has the meaning set forth in Section 6.22(c) hereof.

          “SEC” has the meaning set forth in Section 6.18(b) hereof.

          “Section 13.11(b) Claim” has the meaning set forth in Section 13.11(b)(i) hereof.

          “Seller A” has the meaning set forth in the preamble hereto.

          “Seller B” has the meaning set forth in the preamble hereto.

          “Sellers” has the meaning set forth in the preamble hereto.

          “Seller 401(k) Plan” has the meaning set forth in Section 9.4(h) hereof.

          “Seller Entities” has the meaning set forth in Section 4.20(e)(iii) hereof.

          “Seller Indemnitees” has the meaning set forth in Section 13.5 hereof.

          “Seller Information” has the meaning set forth in Section 6.3(c) hereof.

          “Seller Marks” has the meaning set forth in Section 6.11(d) hereof.

          “Seller Obligations” has the meaning set forth in Section 17.1 hereof.

          “Sellers’ Allocation Schedule” has the meaning set forth in Section 2.4(a) hereof.

          “Sellers’ Remediation” has the meaning set forth in Section 13.4(c)(i) hereof.

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          “Software” has the meaning set forth in the definition of “Intellectual
Property” contained in this Section 1.1.

          “Spare Parts” means all spare parts located at the Bulk ASUs and all shared critical
spare parts for any of the Bulk ASUs that are stored at any other location other than the Bulk
ASUs, except those parts primarily used for on-site plants in the ECOVAR Business and Tonnage Air
Gas Business and those items listed on Schedule DEF-F.

          “Special One-Time Retention Arrangements” has the meaning set forth in Section 6.8(j)
hereof.

          “Specified Equipment” means the motor vehicles, tractors, cars, fork lifts, trailers,
cryogenic trailers, tube trailers, bulk tanks (including related equipment and machinery such as
pumps and vaporizers) and other items set forth on Schedule 4.11(b), including leased vehicles used
by Business Employees.

          “Spectra Gases Business” means the business of Spectra Gases, Inc. and its Affiliates,
which includes the sales, marketing, purification, blending, filling, distribution of specialty
gases and chemicals (including synthetic chemicals, isotropically labeled gases and chemicals,
isotopes, calibration gases, EPA protocols, excimer laser gases, VOC mixes, rare gases and rare gas
mixes, high purity gases and chemicals, deuterium and deuterated compounds), as well as engineering
equipment solutions including regulators and related hardware.

          “Stay Bonuses” has the meaning set forth in Section 9.3 hereof.

          “Stay Bonus Letter” has the meaning set forth in Section 9.3 hereof.

          “Straddle Period” has the meaning set forth in Section 13.10(c) hereof.

          “Subject Property” has the meaning set forth in Section 6.13 hereof.

          “Subsidiary” means, with respect to any Person, any other Person whether incorporated
or unincorporated, of which at least a majority of the securities or ownership interests having by
their terms voting power to elect a majority of the board of directors or other persons performing
similar functions is directly or indirectly owned or controlled by such Person or by one or more of
its respective Subsidiaries.

          “Tangible Assets Schedule” has the meaning set forth in Section 2.4(a).

          “Target Net Working Capital Amount” has the meaning set forth in Section 2.3(f).

          “Tax” or “Taxes” means (i) any and all federal, state, provincial, local,
foreign and other taxes, levies, fees, imposts, duties, and similar governmental charges (including
any interest, fines, assessments, penalties or additions to tax imposed in connection therewith or
with respect thereto) including (x) taxes imposed on, or measured by, income, franchise, profits or
gross receipts, and (y) ad valorem, value added, capital gains, sales, goods and services, use,
real or personal property, capital stock, license, branch, payroll, estimated, withholding,
employment,

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social security (or similar), unemployment, compensation, utility, severance, production,
excise, stamp, occupation, premium, windfall profits, transfer and gains taxes, and customs duties,
and (ii) any transferee liability in respect of any items described in clause (i) above.

          “Tax Actions” has the meaning set forth in Section 6.14(d) hereof.

          “Tax Benefit” means a reduction after the Closing in the federal, state or local or
foreign liability for Tax or any refund or credit of a prior liability for Tax attributable to
adjustments to the income, deductions or credits resulting from any event that is the basis for an
indemnification claim under Section 13.2 or 13.5 that is actually realized by the Purchaser
Indemnitee or Seller Indemnitee, as the case may be.

          “Tax Returns” means any and all reports, returns, declarations, claims for refund,
disclosures, estimates, information reports or returns or statements required to be supplied to a
taxing authority in connection with Taxes, including any schedule or attachment thereto or
amendment thereof.

          “Tax Sharing Agreements” has the meaning set forth in Section 4.23(j) hereof.

          “Third Party” means any Person other than (i) the parties to this Agreement and (ii)
their Affiliates, successors and assigns.

          “Third Party Distributor” means any Third Party that purchases bulk or packaged gas
from any of the Guarantor or its Affiliates, or from others, for re-packaging or for resale.

          “Third Party Partner” means any Third Party that sells bulk or packaged gas to any
Person.

          “TMG Business” means the business of TMG Co., LLC, a wholly owned Subsidiary of the
Operating Company, and which operates a business of reselling medical and industrial gas products,
both in bulk and cylinder form, to customers with multiple locations.

          “Tonnage Air Gas Business” means Sellers’ and their Affiliates’ business of producing,
refining, marketing, selling and supplying of air gases in quantities greater than two hundred
(200) tons per day from production facilities and related distribution systems that utilize
membrane, adsorption, and/or cryogenic technologies. For the avoidance of doubt, Tonnage Air Gas
Business includes all liquid or gaseous products that the customer consumes at the site whether
directly related to the on-site production facility or not.

          “Trade Payables” means trade payables accrued in the Ordinary Course of Business.

          “Trade Secrets” has the meaning set forth in the definition of “Intellectual
Property” contained in this Section 1.1.

          “Trademarks” has the meaning set forth in the definition of “Intellectual
Property” contained in this Section 1.1.

-24-

 

          “Transaction Documents” means this Agreement, the Transition Services Agreement, the
Product Supply Agreement and the LCS License Agreement.

          “Transfer Taxes” has the meaning set forth in Section 12.1 hereof.

          “Transferred Employees” has the meaning set forth in Section 9.4(d) hereof.

          “Transition Services Agreement” means the transition services agreement on the terms
attached hereto as Exhibit C.

          “Treasury Regulations” means the Treasury regulations promulgated under the Code.

          “Trustee” means the trustee appointed by the FTC pursuant to the FTC Order.

          “Utilize” means to use, reproduce, prepare derivative works based upon, distribute,
perform, display, make, have made, sell, offer to sell, export, import and otherwise exploit.

          “Vacation Payment” has the meaning set forth in Section 9.4(f) hereof.

          “WARN” means, collectively, the Worker Adjustment and Retraining Notification Act of
1988 (and the regulations promulgated thereunder) and any applicable or similar state or local
equivalent.

          “Working Capital Statement Principles” means the principles, procedures and
methodologies set forth on Exhibit D that shall be applied to any determination and
calculation of Net Working Capital under the terms and provisions, and for the purposes of, this
Agreement. To the extent the Working Capital Statement Principles are inconsistent with GAAP, GAAP
shall control. The Working Capital Statement Principles shall be consistent with the Carve-Out
Principles.

          “Year-End 2006 Audited Financial Statements” has the meaning set forth in Section
6.18(a) hereof.

          “Year-End Audited Financial Statements” has the meaning set forth in Section 4.8(a)
hereof.

     1.2. Construction. All references herein to a Section or Exhibit are to a Section or
Exhibit, respectively, of or to this Agreement, unless otherwise indicated. All references herein
to a Schedule are to a Schedule of the disclosure schedules attached to this Agreement, unless
otherwise indicated. Disclosure of any fact or item in any Schedule shall, should the existence of
such fact or item be relevant to any other Schedule, be deemed to be disclosed with respect to that
other Schedule so long as the relevance of such disclosure to such other Schedule is readily
apparent on its face. The headings of Sections in this Agreement are provided for convenience only
and will not affect the construction or interpretation of this Agreement. All words used in this
Agreement will be construed to be of such gender or number as the circumstances require. The meanings
given to terms defined herein shall be equally applicable to both the singular and

-25-

 

plural forms of
such terms. Unless otherwise expressly provided, the words “include,” “includes” and “including”
shall be construed as if followed by the phrases “without limitation” or “without being limited
to.” Words such as “herein,” “hereof,” “hereby,” “hereunder” and words of similar import refer to
this Agreement as a whole and not to any particular Section of this Agreement, unless the context
clearly indicates otherwise. The terms “transactions contemplated hereby,” “transactions
contemplated by this Agreement” and similar phrases shall not include the Restructuring. The
parties hereto agree that they have been represented by counsel during the negotiation and
execution of this Agreement and, therefore, waive the application of any law, regulation, holding
or rule of construction providing that ambiguities in an agreement or other document will be
construed against the party drafting such agreement or document.

SECTION 2

PURCHASE AND SALE OF PURCHASED EQUITY INTERESTS

     2.1. Purchase and Sale of Purchased Equity Interests. At the Closing, and upon the terms
and subject to the conditions set forth in this Agreement, the Sellers shall sell, transfer,
convey, assign and deliver to the Purchaser, and the Purchaser shall purchase and receive from the
Sellers, all of the Sellers’ right, title and interest in and to the Purchased Equity Interests,
free and clear of all Liens, other than such as may be created by or on behalf of the Purchaser.

     2.2. Purchase Price.

          (a) Closing Date Payment. The Purchaser agrees (i) to pay to the Sellers on the
Closing Date an amount equal to the Closing Date Payment, as payment for the Purchased Equity
Interests and (ii) to repay to an Affiliate of the Sellers (as designated by the Sellers) an amount
equal to the Retained Debt (the amount of the Closing Date Payment (as adjusted, if at all,
pursuant to Section 2.3) plus the amount of the Retained Debt at Closing, being referred to
herein as the “Purchase Price”). The amount of the Closing Date Payment plus the amount of
Retained Debt shall equal $494,800,000. The Purchase Price shall not be subject to adjustment for
any applicable sales, goods and services, value added, transfer and similar Taxes incurred with
respect to the transfer of the Purchased Equity Interests.

          (b) The Sellers shall provide the Purchaser a schedule setting forth the amount of the
Retained Debt and the identity of the Affiliate of the Sellers to whom repayment of the Retained
Debt is to be made pursuant to Section 2.2(a) at least three (3) Business Days prior to the Closing
Date.

          (c) The Closing Date Payment shall be made by the Purchaser to the Sellers in immediately
available funds by wire transfer to such account as the Sellers shall designate in writing at least
three (3) Business Days prior to the Closing Date. The repayment of the Retained Debt to an
Affiliate of the Sellers shall be made in immediately available funds by wire transfer to such
account as the Sellers, on behalf of such Affiliate, shall designate in writing at
least three (3) Business Days prior to the Closing Date. Upon repayment of the Retained Debt
in accordance with the foregoing, the Retained Debt and any other obligation related thereto shall
be discharged and the Operating Company shall be released from any and all liability in connection
therewith.

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     2.3. Post-Closing Payment.

          (a) Delivery of Post-Closing Payment Statement. The Sellers shall prepare and, by the
date that is forty (40) Business Days after the Closing Date, deliver to the Purchaser a statement
(the “Post-Closing Payment Statement”) setting forth their determination of the amount of
the Final Closing NWC Amount, together with a reasonable description of the determination and
calculation of such amount. The Purchaser shall assist and cooperate with the Sellers in the
preparation of the Post-Closing Payment Statement, including by providing the Sellers and their
accountants reasonable access to all relevant Books and Records, facilities and employees of the
Companies and the Operating Company and to any other information reasonably necessary to prepare
the Post-Closing Payment Statement. The Post-Closing Payment Statement shall be prepared in
accordance with the Working Capital Statement Principles.

          (b) Objection to Post-Closing Payment Statement. The Purchaser may dispute the amounts
set forth on the Post-Closing Payment Statement, but only on the basis that the Sellers’
determination of the Final Closing NWC Amount was not determined in a manner consistent with the
determination of the Target Net Working Capital Amount; provided that the Purchaser shall
have notified the Sellers in writing (the “Objection Notice”) within thirty (30) Business
Days after receiving the Post-Closing Payment Statement from the Sellers, specifying the amount
thereof in dispute and setting forth in reasonable detail the basis for the dispute, including
reasonable details of its calculations.

          (c) Resolution of Disputes. The Sellers shall give the Purchaser and the Purchaser’s
independent public accountants reasonable access during the entire thirty (30) Business Day period
specified in Section 2.3(b) to the Sellers’ work papers used in the preparation of the Post-Closing
Payment Statement to enable the Purchaser to exercise its rights under this Section 2.3. The
Sellers and the Purchaser shall attempt in good faith to resolve all of the items in dispute set
out in the Objection Notice within ten (10) Business Days of receipt by the Sellers of the
Objection Notice. Any items in dispute not resolved within such ten (10)-Business Day period shall
be referred as soon as possible thereafter by the Sellers and the Purchaser to the Independent
Accountant. The parties shall require the Independent Accountant (i) to act as an expert and not
as an arbitrator, (ii) to determine the items in dispute that have been referred to it as soon as
reasonably practicable but in any event not later than twenty (20) Business Days after the date of
referral of the dispute to it, and (iii) in making its determination, to consider only the issues
in dispute placed before it and to base its determination on the Working Capital Statement
Principles. The Sellers and the Purchaser shall provide or make available all documents and
information as reasonably required by the Independent Accountant to make its determination. The
determination of the Independent Accountant as to all items in
the Post-Closing Payment Statement and the resulting calculation of the Final Closing NWC
Amount shall be final and binding on the parties.

          (d) Independent Accountant Expenses. The fees and expenses of the Independent
Accountant in acting in accordance with this Section 2.3 shall be shared equally by the Purchaser,
on the one hand, and the Sellers, on the other hand.

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          (e) Final Post-Closing Payment Statement. The Post-Closing Payment Statement and its
contents shall be deemed final and binding upon the parties upon the earliest of: (i) the failure
of the Sellers to furnish an Objection Notice to the Purchaser within thirty (30) Business Days
after receiving the Post-Closing Payment Statement from the Purchaser pursuant to Section 2.3(a),
(ii) the resolution of all disputes that are the subject of an Objection Notice by the parties
pursuant to Section 2.3(c), or (iii) the final determination of the Independent Accountant pursuant
to Section 2.3(c).

          (f) Post-Closing Payment. On the second (2nd) Business Day after the
Post-Closing Payment Statement has become final and binding in accordance with Section 2.3(e), (i)
if the Final Closing NWC Amount is greater than $15,805,000 (the “Target Net Working Capital
Amount”), which was determined in accordance with the Working Capital Statement Principles,
then the Purchaser shall pay to the Seller the amount of such difference or (ii) if the Final
Closing NWC Amount is less than the Target Net Working Capital Amount, then the Seller shall pay to
the Purchaser the amount of such difference, any such payment being deemed an adjustment to the
amount of the Purchase Price. Any payment so required to be made by the Purchaser or the Sellers
shall be by transfer of immediately available funds to an account or accounts specified in writing
by the Purchaser or the Sellers (as the case may be) and shall bear interest from the Closing Date
through the date of payment at the prime lending rate as announced from time to time by JPMorgan
Chase Bank, N.A.

     2.4. Allocation.

          (a) At the Closing, the Sellers shall deliver to the Purchaser a statement (the “Sellers’
Allocation Schedule”) setting forth their proposed calculation of the aggregate amount of the
Purchase Price, and the liabilities taken into account in determining the amount realized for the
Sellers for federal income tax purposes, of the Companies and the Operating Company to be allocated
among the assets of the Companies and the Operating Company and the allocation of such aggregate
amount among the assets of the Companies and the Operating Company. To the extent that, within
ninety (90) days after the Purchaser’s receipt of the Sellers’ Allocation Schedule, the Purchaser
shall not have objected in writing to such Sellers’ Allocation Schedule, then the Sellers’
Allocation Schedule shall become the final Allocation Schedule (the “Final Allocation
Schedule”). Within ninety (90) days after the Closing, the Purchaser may cause American
Appraisal Associates, Inc. (or such other appraiser as shall be reasonably acceptable to the
Sellers) to prepare, in a manner consistent with Purchaser’s past practices, a proposed calculation
of the aggregate amount of the Purchase Price, and the liabilities taken into account in
determining the amount realized for the Sellers for federal income tax purposes, of the Companies
and the Operating Company to be allocated among the assets of the Companies and
the Operating Company and the allocation of such aggregate amount among the assets of the
Companies and the Operating Company (the “Purchaser’s Allocation Schedule”). In the event
that there is disagreement between the Sellers and Purchaser as to which allocation schedule (or
which parts thereof) should be used, the Sellers and the Purchaser shall negotiate in good faith to
resolve the dispute. If the Sellers and the Purchaser are unable to reach an agreement within
ninety (90) days after the Sellers’ receipt of the Purchaser’s Allocation Schedule, the dispute
shall be resolved and the Final Allocation Schedule shall be determined by Deloitte & Touche
(“Deloitte”), which shall be jointly retained by the parties. Deloitte shall
not be
required to select either party’s position in the dispute and may determine a different resolution.
Deloitte shall

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 resolve the dispute within thirty (30) days after the item has been referred to it.
If deemed necessary by Deloitte, Deloitte may perform, or cause to be performed, an Appraisal to
determine the values to be reflected on the Final Allocation Schedule. The Final Allocation
Schedule, as agreed to by the Purchaser and the Sellers and/or as determined by Deloitte according
to the terms of this Section 2.4(a), shall be final and binding upon the parties. Each of the
Purchaser and the Sellers shall bear all fees and costs incurred by it in connection with the
determination of the Final Allocation Schedule, except that the fees and expenses of Deloitte in
acting in accordance with this Section 2.4(a) shall be shared equally by the Purchaser and the
Sellers.

          (b) For all Tax purposes, the Purchaser and the Sellers will report the transactions
contemplated by this Agreement and the Transaction Documents in a manner consistent with the Final
Allocation Schedule, and neither of such parties will take or assume any position inconsistent
therewith in any Tax Return.

          (c) The parties will promptly inform one another of any challenge by any taxing authority to
the Final Allocation Schedule and agree to consult and keep one another informed with respect to
the status of, and any discussion, proposal or submission with respect to, such challenge.

SECTION 3

CLOSING

     3.1. Closing. The closing of the transactions contemplated by this Agreement (the
“Closing”) shall take place at the offices of Paul, Weiss, Rifkind, Wharton & Garrison LLP,
1285 Avenue of the Americas, New York, New York, at 10:00 a.m. Eastern Daylight Time on the date
that is the fifth (5th) Business Day immediately following satisfaction or waiver of all
of the conditions to Closing set forth in Section 7 and Section 8 hereof (other than those which by
their nature are to be satisfied at the Closing) or at such other time, place or date as the
Purchaser and the Sellers may agree in writing. The date upon which the Closing actually occurs is
referred to herein as the “Closing Date.” The Closing shall be effective as of the closing
of business on the Closing Date.

     3.2. Certain Closing Deliveries by the Sellers. At the Closing, the Sellers shall deliver, or cause to be delivered, to the Purchaser or
one or more of the Purchaser Subsidiaries (as designated in writing by the Purchaser no later than
three (3) Business Days prior to the Closing Date) the following:

          (a) certificates (or local legal equivalent) evidencing those Purchased Equity Interests that
are certificated securities, duly endorsed in blank, or accompanied by stock powers duly executed
in blank and with any required stock transfer tax stamps affixed thereto;

          (b) the officer’s certificate required by Section 7.4;

          (c) a receipt for the Closing Date Payment, duly executed by an authorized representative of
the Sellers;

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          (d) a supply agreement, substantially in the form attached hereto as Exhibit E (the
“Product Supply Agreement”), duly executed by an authorized representative of the Sellers
or an appropriate Affiliate of the Sellers, if applicable;

          (e) the Transition Services Agreement, duly executed by an authorized representative of the
Sellers or an appropriate Affiliate of the Sellers, if applicable;

          (f) a certificate certifying that no withholding is required within the meaning of Section
1445 of the Code, which certificate shall set forth all information required by, and otherwise be
executed in accordance with, Treasury Regulation Section 1.1445-11T(d)(2);

          (g) resignations effective as of the Closing Date from any and all directors and officers of
each of the Companies and the Operating Company;

          (h) an officer’s incumbency certificate of each of the Sellers, dated as of the Closing Date;

          (i) the LCS License Agreement, duly executed by an authorized representative of the Guarantor
or an appropriate Affiliate of the Guarantor;

          (j) an instrument in writing evidencing the receipt, repayment and full satisfaction of the
Retained Debt by the Affiliate of the Sellers designated in accordance with Section 2.2(a), in a
form and with substance reasonably satisfactory to the Purchaser; and

          (k) all other documents, instruments and writings required to be delivered by the Sellers at
or prior to the Closing pursuant to this Agreement.

     3.3. Certain Closing Deliveries by the Purchaser. At the Closing, the Purchaser shall
deliver, or cause to be delivered, to the Sellers the following:

          (a) the officer’s certificate required by Section 8.3;

          (b) payment of the Closing Date Payment in accordance with Section 2.2;

          (c) counterparts to the Product Supply Agreement, duly executed by an authorized
representative of the Purchaser or the applicable Purchaser Subsidiary;

          (d) counterparts to the Transition Services Agreement, duly executed by an authorized
representative of the Purchaser or the applicable Purchaser Subsidiary;

          (e) an officer’s incumbency certificate of the Purchaser, dated as of the Closing Date;

          (f) counterparts to the LCS License Agreement, duly executed by an authorized representative
of the Purchaser or the applicable Purchaser Subsidiary; and

          (g) all other documents, instruments and writings required to be delivered by the Purchaser at
or prior to the Closing pursuant to this Agreement.

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SECTION 4

REPRESENTATIONS AND WARRANTIES OF THE SELLERS

          Each of the Sellers jointly and severally represents and warrants to the Purchaser as
follows:

     4.1. Organization of the Sellers and the Guarantor.

          (a) Seller A is a private company with limited liability duly organized, validly existing and
in good standing under the laws of the Netherlands and has all requisite power to own, lease and
operate the assets or properties owned, leased or operated by it (including, if applicable, any of
the Bulk Assets), and to carry on its business (including, if applicable, any portion of the Bulk
Gas Business), as now being conducted. Seller B is a corporation duly organized, validly existing
and in good standing under the laws of the State of Georgia and has all requisite power to own,
lease and operate the assets or properties owned, leased or operated by it (including, if
applicable, any of the Bulk Assets) and to carry on its business (including, if applicable, any
portion of the Bulk Gas Business) as now being conducted. Each of the Sellers is duly qualified or
licensed to do business as a foreign corporation and is in good standing (where such concept is
applicable) in every jurisdiction where the ownership, leasing or operation of its assets or
properties (including, if applicable, any of the Bulk Assets), as the case may be, or the conduct
of its business (including, if applicable, any portion of the Bulk Gas Business) require such
qualification or licensing other than jurisdictions where failure to be so qualified or licensed or
in good standing would not, individually or in the aggregate, have a Business Material Adverse
Effect.

          (b) The Guarantor is a corporation duly organized and validly existing under the laws of the
Federal Republic of Germany.

     4.2.Organization of the Companies.

          (a) Company A is a limited partnership duly organized, validly existing and in good standing
under the laws of the State of Georgia and has all requisite power to own, lease and operate its
assets or properties (including, if applicable, any of the Bulk Assets) and to carry on its
business (including, if applicable, any portion of the Bulk Gas Business) as now being conducted.
Company B is a limited partnership duly organized, validly existing and in good standing under the
laws of the State of Texas and has all requisite power to own, lease and operate its assets or
properties (including, if applicable, any of the Bulk Assets) and to carry on its business
(including, if applicable, any portion of the Bulk Gas Business) as now being conducted.

          (b) Each of the Companies is duly qualified or licensed to do business as a foreign entity and
is in good standing (where such concept is applicable) in every jurisdiction where the ownership,
leasing or operation of its assets or properties (including, if applicable, any of the Bulk Assets)
or the conduct of its business (including, if applicable, any portion of the Bulk Gas Business)
require such qualification or licensing other than jurisdictions where failure to be so qualified
or licensed or in good standing would not, individually or in the aggregate, have a Business
Material Adverse Effect.

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          (c) The Operating Company is a limited liability company duly organized, validly existing and
in good standing under the laws of the State of Delaware and has all requisite entity power to own,
lease and operate its assets or properties (including the Bulk Assets owned, leased or operated by
the Operating Company) and to carry on its business (including that portion of the Bulk Gas
Business conducted by the Operating Company) as now being conducted. The Operating Company is duly
qualified or licensed to do business as a foreign entity and is in good standing (where such
concept is applicable) in every jurisdiction where the ownership, leasing or operation of its
assets or properties (including the Bulk Assets owned, leased or operated by the Operating Company)
or the conduct of its business (including that portion of the Bulk Gas Business conducted by the
Operating Company) require such qualification or licensing, other than jurisdictions where failure
to be so qualified or licensed or in good standing would not, individually or in the aggregate,
have a Business Material Adverse Effect.

          (d) The Guarantor or the Sellers have made available to the Purchaser (i) a copy of the
certificate of incorporation, by-laws, regulations or other organizational or governing documents
of and for each of the Companies and the Operating Company, each in effect as of the date hereof,
and (ii) copies of the minutes of all meetings of the stock holders, equity holders, boards of
directors, governing bodies and all committees of any the foregoing, as applicable, for each of the
Companies and the Operating Company, held since January 1, 2003. None of the Companies nor the
Operating Company is in violation, or, since January 1, 2003, has been in material violation, of
its organizational documents in any material respect.

     4.3. Corporate Authority and Binding Obligation. Each of the Sellers and the Guarantor has
all corporate or other organizational power and authority (a) to enter into, execute and deliver
each Transaction Document to which it is a party, (b) to consummate the transactions contemplated
by each Transaction Document to which it is a party, including the transactions contemplated by the
Restructuring Terms, and (c) to
perform fully its obligations under each Transaction Document to which it is a party. All
necessary corporate or other organizational action required to be taken by or on the part of each
of the Sellers, the Guarantor and their respective stockholders to authorize, execute, deliver and
perform the Transaction Documents to which it is a party and the transactions contemplated thereby
and by the Restructuring Terms, have been duly and properly taken, and no other corporate or other
organizational action by such Sellers, the Guarantor or their respective stockholders is required
for the due execution, delivery or performance of this Agreement or the other Transaction Documents
to which any of them is a party. This Agreement has been duly authorized, executed and delivered
by each of the Sellers and the Guarantor and constitutes, and each of the other Transaction
Documents to which any of them are a party will be duly authorized by each of the Sellers and the
Guarantor and, when duly executed and delivered, will constitute, valid and binding obligations of
the Sellers and the Guarantor, enforceable against each of the Sellers and the Guarantor in
accordance with their respective terms, assuming due execution and delivery hereof and thereof by
the Purchaser, and except as limited by applicable bankruptcy, insolvency, reorganization,
moratorium or other similar Laws affecting the rights of creditors generally or by general
principles of equity (regardless of whether such enforcement is considered in a proceeding at law
or in equity).

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     4.4. Capitalization and Ownership.

          (a) Schedule 4.4(a) sets forth a true and complete list of the authorized and outstanding
partnership interests (the “Partnership Interests”), name, jurisdiction of organization and
record owner of the partnership interests of each of Company A and Company B, as of the date
hereof. As of the Closing Date, all of the Partnership Interests of each of Company A and Company
B shall be owned of record and beneficially by Seller A (which shall hold the Purchased LP
Interests) and Seller B (which shall hold the Purchased GP Interests), and each of Seller A and
Seller B shall have good and valid title to such Partnership Interests. The Partnership Interests
are duly authorized, validly issued, fully paid, nonassessable (where applicable), free and clear
of any Liens and were not issued in violation of any preemptive rights, rights of first refusal or
other similar rights under any provision of applicable Law, the applicable partnership agreement
(or equivalent constitutive document) of each such Company or any Contract to which either Company
is subject. All issued Partnership Interests have been issued in compliance with all applicable
securities Laws, including the securities laws of the United States and applicable state securities
or “blue sky” Laws.

          (b) Schedule 4.4(b) sets forth a true and complete list of the authorized and outstanding
equity interests, name, jurisdiction of organization and record owner of the membership interests
of the Operating Company, as of the date hereof. As of the Closing Date, all the issued and
outstanding membership interests of the Operating Company shall be owned of record and beneficially
by Company A (which shall hold a sixty-eight percent (68%) membership interest) and Company B
(which shall hold a thirty-two percent (32%) membership interest), and each such Company shall have
good and valid title to such membership interests. All of the issued and outstanding membership
interests of the Operating Company are duly authorized and validly issued, free and clear of any
Liens and were not issued in violation of any preemptive rights, rights of first refusal or other
similar rights under any provision of applicable
Law, the certificate of formation, operating agreement, limited liability company agreement
(or equivalent constitutive document) of the Operating Company or any Contract to which the
Operating Company is subject. All issued and outstanding membership interests of the Operating
Company have been issued in compliance with all applicable securities Laws, including the
securities laws of the United States and applicable state securities or “blue sky” Laws.

          (c) Except for this Agreement and as set forth on Schedule 4.4(c), (i) there are no options,
warrants, calls, rights, subscriptions, arrangements, claims, commitments (contingent or
otherwise), Contracts relating to dividend or voting rights or other interests, or agreements of
any character to which any of the Guarantor, the Sellers, the Companies, the Operating Company or
any of their respective Affiliates is a party, or is otherwise subject, requiring (and there are no
securities of the Companies or the Operating Company outstanding which, upon conversion or exchange
would require) the issuance, sale or transfer of (A) any additional shares of capital stock or any
other equity securities of any of the Companies or the Operating Company or (B) other securities of
any of the Companies or the Operating Company convertible into, exchangeable for or evidencing the
right to subscribe for or purchase capital stock or any other equity securities of any of the
Companies or the Operating Company and (ii) there are no outstanding or authorized stock
appreciation, phantom stock, profit participation, or similar rights with respect to any capital
stock of, or other equity or voting interest in, either of the

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Companies or the Operating Company.
Neither of the Companies or the Operating Company has any authorized or outstanding bonds,
debentures, notes or other indebtedness the holders of which have the right to vote (or which are
convertible into, exchangeable for, or evidence the right to subscribe for or acquire securities
having the right to vote) with the equity holders of either of the Companies or the Operating
Company on any matter. None of the Guarantor, the Sellers, the Companies or the Operating Company
is a party, or is otherwise subject, to (x) any voting trust or other voting agreement or any
agreement restricting transfer of the Purchased Equity Interests with respect to any of the shares
of the capital stock of either of the Companies or the Operating Company or (y) any agreement
relating to the issuance, sale, repurchase, redemption, transfer, acquisition or other disposition
or the registration of the capital stock of either of the Companies or the Operating Company,
including the Purchased Equity Interests.

          (d) Other than the Operating Company, neither Company A nor Company B has any Subsidiaries.
As of the Closing Date, the Operating Company will have no Subsidiaries. Except for equity
interests set forth in Schedule 4.4(b) there are no joint ventures or other Persons in which either
of the Companies or the Operating Company owns, of record or beneficially, any direct or indirect
equity or other similar interest or any right (contingent or otherwise) to acquire same.

          (e) Except as set forth in Schedule 4.4(e), neither of the Companies (i) conducts, transacts
or otherwise engages (or has ever conducted, transacted or otherwise engaged) in any business or
operations other than those incidental to its ownership of the equity interests of Company A,
Company B or the Operating Company, as applicable, or (ii) owns, leases, manages or otherwise
operates (or has ever owned, leased, managed or otherwise operated) any properties or assets other
than the equity interests of Company A, Company B or the Operating Company, as applicable.

     4.5. Ownership of Purchased Equity Interests. As of the Closing Date, each of the Sellers
shall own beneficially and of record all of the Purchased Equity Interests being sold by such
Seller hereunder as set forth in Schedule 4.5, which, as of such date, collectively shall
constitute all of the issued and outstanding partnership interests of the Companies. The Sellers
shall, and shall have the power to, sell, assign, transfer and deliver record and beneficial
ownership to the Purchased Equity Interests to the Purchaser on the Closing Date in accordance with
this Agreement, free and clear of all Liens, voting trusts and restrictions on transfer of any
nature whatsoever, and except for restrictions on transfer imposed by or pursuant to securities Law
or for Liens that may be created by or on behalf of the Purchaser.

     4.6. No Violation. The execution and delivery by the Sellers and the Guarantor of the
Transaction Documents to which they are a party and the consummation of the transactions
contemplated thereby and by the Restructuring Terms, will not (a) violate the organizational
documents of either of the Sellers, either of the Companies, the Operating Company or the
Guarantor, (b) subject to obtaining the Consents set forth in Section 4.7, violate any Law
applicable to either of the Sellers, either of the Companies, the Operating Company or the
Guarantor, (c) subject to obtaining the Consents set forth on Schedule 4.6(c), result in the
creation of a Lien (other than a Permitted Lien) on any of the Bulk Assets, (d) except as set forth
on Schedule 4.6(d), violate or result in the revocation or suspension of any Material Permit, (e)
subject to obtaining the Consents set forth on Schedule 4.6(e), violate, conflict with or result

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in
any breach of any provision of, or constitute, whether after the giving of notice or lapse of time
or both, a default under any Material Contract, or (f) subject to obtaining the Consents set forth
on Schedule 4.6(e), give rise to a right of termination, amendment, cancellation or acceleration of
any right or obligation of either of the Sellers, any of the Companies or the Operating Company
under any Material Contracts, excluding, in the case of the foregoing clauses (c) through (e),
violations, breaches and defaults which, either individually or in the aggregate, would not have a
Business Material Adverse Effect.

     4.7. Governmental Approvals. Except with respect to Environmental Laws, Environmental
Permits, Environmental Liabilities and other matters related thereto (which are covered exclusively
by Section 4.22), no Consent of any Governmental Body is required in connection with the execution
and delivery by the Sellers or the Guarantor of the Transaction Documents to which they are a party
or their consummation of the transactions contemplated thereby and by the Restructuring Terms, or
their performance of any of the provisions thereof on or after the Closing Date, except (a) the
filing of a petition for, and the receipt of, approval of the Purchaser as the buyer of the Bulk
Gas Business by the Federal Trade Commission (“FTC”) and (b) those set forth in Schedule
4.7.

     4.8. Financial Statements.

          (a) Attached hereto as Exhibit F are (i)(A) audited “carve-out” balance sheets of the
Bulk Gas Business, as of December 31, 2005, and (B) the related audited “carve-out” statements of
operations, cash flows and changes in stockholder’s investment for the Bulk Gas Business, for the
twelve month period ended December 31, 2005 (collectively, the “Year-End Audited Financial
Statements”) and (ii)(A) comparative unaudited “carve-out” balance sheets of the Bulk Gas
Business, as of September 30, 2006, and (B) the related unaudited “carve-out” statements of
operations, cash flows and changes in stockholder’s investment for the Bulk Gas Business, for the
nine-month period ended September 30, 2006 (collectively, the “Interim Unaudited Financial
Statements” and, together with the Year-End Audited Financial Statements, the “Financial
Statements”).

          (b) The Year-End Audited Financial Statements fairly present in all material respects, subject
to the applicable Carve-Out Principles, the financial condition and results of operations of the
Bulk Gas Business, as of the dates thereof and for the periods covered thereby. The Year-End
Audited Financial Statements have been prepared in accordance with GAAP and the applicable
Carve-Out Principles; provided, that to the extent GAAP and the applicable Carve-Out
Principles conflict, GAAP shall control.

          (c) The Interim Financial Statements have been prepared based on information recorded in the
Ordinary Course of Business and fairly present in all material respects, subject to the applicable
Carve-Out Principles, the net assets and EBITDA of the Bulk Gas Business as of the dates thereof
and for the periods covered thereby.

For purposes of this Section 4.8 and the Financial Statements, “Bulk Gas Business” shall include
such of the Customer Contracts and other Bulk Contracts as were in effect, and the other Bulk
Assets as and to the extent they existed, at the times and during the periods covered thereby, and
does not include any New Customer Contracts.

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     4.9.No Undisclosed Liabilities. Except as set forth in Schedule 4.9, as reflected in the
Financial Statements or incurred in the Ordinary Course of Business since September 30, 2006
reflecting a net increase in liabilities (excluding liabilities included in the Final Closing NWC
Amount) in an amount not in excess of five million dollars ($5,000,000), as of the Closing Date,
none of the Companies or the Operating Company will have any direct or indirect liability of a kind
required by GAAP to be set forth on a financial statement or in the notes thereto, that were not
fully and adequately reflected or reserved against in the Financial Statements or described on any
Schedule, that, individually or in the aggregate, constitute a Business Material Adverse Effect.

     4.10. No Business Material Adverse Effect. Since December 31, 2005 through June 30, 2006,
there has not been any Business Material Adverse Effect. Except as set forth in Schedule 4.10 or
contemplated by the Restructuring, since December 31, 2005 until the date hereof, none of the
Sellers, the Companies, the Operating Company or any of their respective Affiliates has:

          (a) sold, leased, abandoned or otherwise transferred or disposed of (or contracted to sell,
lease or otherwise transfer) any assets or properties of the Bulk Gas Business except dispositions
(i) in the Ordinary Course of Business and (ii) of Bulk Equipment that is obsolete or in unusable
condition and not necessary for the operation of the Bulk Gas Business;

          (b) suffered or incurred any damage, destruction or other casualty loss, individually or in
the aggregate, in excess of six hundred thousand dollars ($600,000) to any of the Bulk Assets or
Leased Real Property, normal wear and tear excepted;

          (c) other than in the Ordinary Course of Business or as required by Law, increased the rate of
compensation of, or paid or agreed to pay or increased any benefit or incentive to (other than Stay
Bonuses pursuant to Stay Bonus Letters paid by the Companies or the Operating Company), any of the
Business Employees;

          (d) taken any action, other than in the Ordinary Course of Business, to modify or change any
accounting policies applicable to the Bulk Gas Business; or

          (e) taken any action that would be prohibited after the date hereof under subclauses (a), (c),
(d), (k), (l), (m) or (o) of Section 6.8.

          (f) agreed, whether in writing or otherwise, to take an action described in the foregoing
clauses (a) through (e).

     4.11.Bulk Assets.

          (a) Upon consummation of the Restructuring, except as set forth on Schedule 4.11(a)(i) and
except for Permitted Liens, and subject to Section 6.22, the Operating Company shall have good
title to all the tangible personal property and tangible assets comprising any part of the Bulk
Assets (other than the owned Real Property and the Leased Real Property), free and clear of all
Liens, or shall have a valid lease or other right to use such personal property and tangible assets
comprising any part of the Bulk Assets for the benefit of the Bulk Gas Business and such lease or
other right shall constitute or otherwise be pursuant to a

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Bulk Contract. Except as set forth on
Schedule 4.11(a)(ii), all tangible personal property and assets comprising any part of the Bulk
Assets (other than the owned Real Property and the Leased Real Property) are, in all material
respects, in operating condition and repair, normal wear and tear excepted, sufficient for the
conduct of the Bulk Gas Business substantially as conducted as of the date hereof, other than Bulk
Equipment under or out of repair in the Ordinary Course of Business. Upon consummation of the
Restructuring, the Operating Company will own or have a valid leasehold interest in, or other right
to use, all of the Bulk Assets, subject to Section 6.22, and will not own any other material assets
or properties. The Bulk Assets, together with the rights and services made available in the
Transaction Documents, will constitute all of the assets (real, personal or fixed), Permits,
Contracts, properties and rights that are necessary for the conduct of the Bulk Gas Business
immediately following the Closing in substantially the same manner as conducted as of the date
hereof.

          (b) Set forth on Schedule 4.11(b) is a list, as of the date hereof, which list is true,
correct and complete in all material respects, of all motor vehicles, tractors, cars, fork lifts,
trailers, cryogenic trailers, tube trailers, leases with respect to the leased vehicles of the
Business Employees, and bulk tanks (including related equipment and machinery such as pumps and
vaporizers) (with a description of whether each such motor vehicle, tractor, car, fork lift,
cryogenic trailer, tube trailer or bulk tank is owned or leased) and similar items of equipment
having a value in excess of fifty thousand dollars ($50,000) included in the Bulk Equipment.

     4.12. Litigation and Proceedings.

          (a) Except (i) with respect to Environmental Laws, Environmental Permits, Environmental
Liabilities and any other matters related thereto (which are covered exclusively by Section 4.22),
(ii) employment and employee benefits matters (which are covered exclusively by Section 4.20), and
(iii) as set forth in Schedule 4.12 hereto:

               (i) the Operating Company is not a party to, or, to the knowledge of the Sellers, threatened
in writing with, any Action by or before any Governmental Body, in each case, that would be
reasonably expected to result in the awarding of damages in excess of three hundred thousand
dollars ($300,000);

               (ii) neither of the Companies or the Operating Company is subject to any Order (other than the
FTC Orders) and neither of the Companies is a party to, or, to the knowledge of the Sellers,
threatened in writing with, any Action;

               (iii) other than the FTC Orders, there are no outstanding Orders relating to the Bulk Gas
Business, the Bulk Assets or the Leased Real Property;

               (iv) none of the Sellers, the Companies or the Operating Company or any of their respective
Affiliates is in violation of any Order, including the FTC Orders, relating to the Bulk Gas
Business, the Bulk Assets or the Leased Real Property; and

               (v) there are no material Actions and, to the knowledge of the Sellers, there are no material
Actions threatened in writing, relating to defective parts, equipment, services or other products
purchased, manufactured or shipped in the Ordinary Course of Business.

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          (b) The Operating Company is not a party to, or, to the knowledge of the Sellers, threatened
in writing with, any Action by or before any Governmental Body, in each case, that would be
reasonably expected to result in the granting of injunctive relief that (A) would impose a
significant restriction on either of the Companies, the Operating Company, the Bulk Gas Business,
the Bulk Assets or the Purchaser’s ability, after the Closing, to own and operate such assets in
substantially the same manner as conducted as of the date hereof or as they may reasonably be
expected to be foreseen to be conducted or (B) challenges or seeks to enjoin or prevent any of the
transactions contemplated by the Transaction Documents and the transactions contemplated by the
Restructuring Terms.

     4.13. Accounts Receivable. All Accounts Receivable have arisen in the Ordinary Course
of Business from bona fide transactions.

     4.14. Inventory. The Bulk Inventory has been purchased and maintained in the Ordinary
Course of Business. After taking into account the reserves on the Financial Statements, the Bulk
Inventory is usable or salable in the Ordinary Course of Business and meets accepted industry
standards for quality.

     4.15. Intellectual Property.

          (a) Schedule 4.15(a) sets forth a list of the primary domestic filings and applications for
Intellectual Property Utilized in the Bulk Gas Business and owned or filed by or on behalf of each
of the Sellers, each of the Companies, the Operating Company and each of their respective
Affiliates as applicable. All domestic filings and applications for the Intellectual Property
Utilized in the Bulk Gas Business and owned or filed by or on behalf of each of the Sellers, each
of the Companies, the Operating Company and each of their respective Affiliates, as applicable, are
valid and enforceable, except to the extent any failure to be valid and enforceable would not
constitute a Business Material Adverse Effect.

          (b) Subject to Section 6.11(k), Schedule 4.15(b) sets forth a list of all IP Licenses
(including agreements for material Off-the-Shelf Software) Utilized in the Bulk Gas Business. All
such IP Licenses are valid, enforceable, and in full force and effect and will continue to be on
identical terms immediately following the completion of the transactions contemplated by this
Agreement and the transactions contemplated by the Restructuring Terms, subject to Section 6.22.

          (c) The Operating Company has taken commercially reasonable actions to maintain and protect
the Intellectual Property Utilized in the Bulk Gas Business and has taken all commercially
reasonable precautions to protect the secrecy, confidentiality and value of any Trade Secret that
is an element of such Intellectual Property and the proprietary nature and value of such
Intellectual Property.

          (d) To the knowledge of the Sellers, (i) the operation of the Bulk Gas Business as currently
conducted by the Operating Company does not infringe or otherwise violate any United States
Intellectual Property of any Third Party and (ii) no Third Party is materially infringing or
violating any Intellectual Property owned or exclusively licensed by the Companies or the Operating
Company and Utilized in the Bulk Gas Business.

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          (e) No Action is pending and no written claim has been made against either of the Companies,
the Operating Company, or, to the knowledge of the Sellers, is threatened in writing, contesting
the right to use, sell or license, any Intellectual Property Utilized in the Bulk Gas Business.

          (f) No present or former employee or consultant of either of the Companies, the Operating
Company and no other Person owns or has made any claim to own any proprietary, financial or other
interest, direct or indirect, in whole or in part, in the Intellectual Property Utilized in the
Bulk Gas Business that would conflict with the rights of the Operating Company in same after the
transactions contemplated by this Agreement and by the Restructuring Terms are consummated, subject
to Section 6.22.

          (g) Other than the Delivered Applications identified on Schedule DEF-E, the EPS Software
licensed pursuant to Section 6.11(h) and the “LCS” Software licensed pursuant to the LCS License
Agreement, there is no other Software Utilized in the Bulk Gas Business that is owned by any of the
Sellers, the Companies, the Operating Company or any of their Affiliates, including any (i)
management information systems Software, (ii) supply chain management Software, (iii) dispatch,
logistics and production Software and (iv) any other Software.

          (h) Upon the consummation of the transactions contemplated by this Agreement and by the
Restructuring Terms, subject to Section 6.22, and pursuant to the terms of the Transaction
Documents, except as set forth in Schedule 4.15(h), the Companies and the Operating Company will
have rights to all Intellectual Property (by way of their ownership of the Bulk Intellectual
Property, through the various Intellectual Property licenses described in Section 6.11 or
otherwise), in each case, (x) as reasonably necessary to service the customers of the Bulk Gas
Business as such customers are served by the Bulk Gas Business as of the date hereof or (y)
as reasonably necessary to operate the Bulk Gas Business at not less than the rate of operation
(including, but not limited to, rate of production and sales) as of the Closing Date.

     4.16. Real Property. Except with respect to Environmental Laws, Environmental
Permits, Environmental Liabilities and any other matters related thereto (which are covered
exclusively by Section 4.22):

          (a) Ownership of Premises. Upon consummation of the Restructuring, subject to Section
6.22, the Operating Company shall be the owner of good and valid fee title to the Owned Real
Property, free and clear of all Liens (other than Permitted Liens). During the period in which
either of the Sellers, any of the Companies or the Operating Company were the owners or conducted
operations on such Owned Real Property, none of them created or permitted the creation of any Liens
that would render title to said Owned Real Property unmarketable as of the Closing. Except as set
forth in Schedule 4.16(a), all of the land, buildings, structures and other Improvements used in
the conduct of the Bulk Gas Business are included in the Real Property. To the knowledge of the
Sellers, there are no encroachments or other facts or conditions affecting any parcel of Owned Real
Property that would be revealed by an accurate survey or careful physical inspection thereof other
than Permitted Real Property Exceptions.

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          (b) Leased Properties. The Sellers have heretofore made available to the Purchaser,
true and complete copies of all Real Property Leases (including all modifications, amendments and
supplements thereto). Except as set forth on Schedule 4.16(b), (i) each Real Property Lease is
valid, binding and in full force and effect, and all rent and other sums and charges due and
payable by the tenant thereunder are current or will be paid within the applicable notice or grace
period, if any, prior to Closing, (ii) none of the Sellers, the Companies, the Operating Company or
any of their respective Affiliates has received any written notice of any current default or
termination under any Real Property Lease, (iii) no termination event or condition or uncured
default on the part of either of the Sellers, either of the Companies, the Operating Company or any
of their respective Affiliates or, to the knowledge of the Sellers, the landlord, exists under any
Real Property Lease, and (iv) to the knowledge of the Sellers, no event has occurred and no
condition exists which, with the giving of notice or the lapse of time or both, would constitute
such a material defect or termination event or condition. None of the Sellers, the Companies, the
Operating Company or any of their respective Affiliates have any ownership, financial or other
interest in the landlord under any Real Property Lease. Upon consummation of the Restructuring,
subject to Section 6.22, the Operating Company shall hold the leasehold estate under and interest
in the Real Property Leases free and clear of all Liens other than Permitted Liens.

          (c) Condition and Operation of Improvements. All components of all buildings,
structures and other improvements included within the Real Property (the “Improvements”),
including the roofs and structural elements thereof and the heating, ventilation, air conditioning,
plumbing, electrical, mechanical, sewer, waste water, storm water, paving and parking equipment,
systems and facilities included therein, are in operating condition and repair, normal wear and
tear excepted, sufficient for the conduct of the Bulk Gas Business substantially as conducted as of
the date hereof.

          (d) No Options. Except as set forth in Schedule 4.16(d) and as set forth in the Real
Property Leases, none of the Sellers, the Companies, the Operating Company or any of their
respective Affiliates holds, and none of them is obligated under or a party to, any option, right
of first refusal or other contractual right to purchase, acquire, sell, dispose of, or lease any of
the Real Property or any portion thereof or interest therein. Except as set forth in Schedule
4.16(d), there are no leases, subleases, licenses or other agreements granting to any Person other
than the Operating Company any right to the possession, use, occupancy or enjoyment of the Real
Property or any portion thereof other than in the Ordinary Course of Business. None of the
Sellers, the Companies, the Operating Company or any of their respective Affiliates in possession
of the Real Property has vacated or abandoned any portion of the Real Property or given notice to
any Third Party of its intent to do the same.

          (e) Condemnation. There are no pending, and none of the Sellers, the Companies, the
Operating Company or any of their respective Affiliates has received written notice of any, and, to
the knowledge of the Sellers, there is no threatened or contemplated, taking or condemnation
proceeding affecting any part of the Real Property or of any sale or other disposition of any part
of the Real Property in lieu of condemnation.

          (f) Casualty. No portion of the Real Property has suffered any material damage by
fire or other casualty which has not been repaired and/or substantially restored.

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     4.17. Permits. Schedule 4.17 includes a true, correct and complete list of all
Permits that are necessary for the operation of the Bulk Gas Business substantially as conducted as
of the date hereof or necessary for the current use of the Bulk Assets substantially as used as of
the date hereof (the “Material Permits”). Except as set forth in Schedule 4.17, and except
with respect to Environmental Permits (which are covered exclusively by Section 4.22), none of the
Sellers, the Companies, the Operating Company or any of their respective Affiliates has received
written notice that any Material Permits are not in full force and effect, and no claim of which
the Sellers, the Companies, the Operating Company or any of their respective Affiliates has
received written notice is pending or, to the knowledge of the Sellers, threatened in writing
seeking the revocation or limitation of any such Material Permit. Each of the Sellers, each of the
Companies, the Operating Company and each of their respective Affiliates, as applicable, is in
compliance in all material respects with the terms of the Material Permits.

     4.18. Agreements.

          (a) Schedule 4.18(a) hereto lists all Bulk Contracts in effect on the date hereof of the
following types:

               (i) Contracts containing executory obligations in an amount reasonably expected to exceed two
hundred and fifty thousand dollars ($250,000) per annum (calculated on the basis of revenues for
the twelve (12)-month period ending December 31, 2005);

               (ii) Contracts required to be disclosed in subclause (i) above, with customers or suppliers
of the Bulk Gas Business for the sharing of fees, the rebating of charges or other similar
arrangements;

               (iii) Contracts containing covenants or terms that otherwise affect the Bulk Gas Business and
that (A) restrict the ability of either of the Sellers, either of the Companies or the Operating
Company (or after the Closing, the Purchaser) to compete in any line of business or with any Person
in any geographical area or (B) restrict the ability of any other Person to compete with either of
the Sellers, either of the Companies or the Operating Company (or after the Closing, the Purchaser)
in any line of business or in any geographical area (excluding any restrictive covenants entered
into between the Companies or the Operating Company, on the one hand, and any current or former
employee of the Companies or the Operating Company, on the other hand);

               (iv) Contracts required to be disclosed in subclause (i) above, containing any rights of first
refusal or rights of first option, in each case, in favor of any Third Party;

               (v) Contracts required to be disclosed in subclause (i) above, containing any “most favored
nation” type provision;

               (vi) Contracts required to be disclosed in subclause (i) above, containing any “take or pay”
type provision in favor of the Third Party;

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               (vii) certain specified IP Licenses to be assigned to the Purchaser, subject to the terms and
conditions set forth in Schedule 4.18(a)(vii) (the “Bulk IP Licenses”); and

               (viii) Contracts to which any Company is a party.

True and complete copies of the Material Contracts (redacted to remove identifying information for
customers), in each case, as amended, supplemented or otherwise modified to the date hereof, have
been provided to the Purchaser.

          (b) Each of the Material Contracts contains the entire agreement of the parties thereto with
respect to the subject matter thereof and constitutes the legal, valid and binding obligation of
each of the Companies and the Operating Company that is party thereto, is in full force and effect,
and is enforceable against each of the Sellers, each of the Companies and the Operating Company
that is party thereto in accordance with its terms except as enforcement may be limited by (i)
bankruptcy, insolvency, reorganization, fraudulent conveyance or transfer, moratorium or similar
Laws affecting creditors’ rights generally and (ii) general principles of equity. Neither of the
Companies or the Operating Company is in material default under any Material Contract to which it
is a party, nor to the knowledge of the Sellers, does any condition exist that, with notice or
lapse of time or both, would constitute a material default by either of the Companies or the
Operating Company party thereto thereunder. To the knowledge of the Sellers, no other party to any
Material Contract is in material default thereunder, nor does any condition exist that, with notice
or lapse of time or both, would constitute a material default thereunder. Except as set forth on
Schedule 4.18(b), neither of the Companies or the Operating Company has received written notice
that any Person intends to terminate (whether for cause or convenience) or default under any
Material Contract before its stated term, if any.

          (c) Schedule 4.18(c) contains a true, complete and accurate list of each Existing Customer
Contract (identified by customer number).

          (d) Schedule 4.18(d) contains a true, complete and accurate list of all Existing Customer
Contracts with customers (identified by customer number) who purchase products of the Bulk Gas
Business for resale and are not identified as a “competitor” or as “Airgas” on Schedule 4.18(c).

     4.19. Customers.

          (a) Schedule 4.19(a) lists, by dollar volume paid for the twelve (12) months ended on December
31, 2005, each of the top twenty (20) customers (excluding distributors) (as identified by customer
number) of the Bulk Gas Business during such period (each such customer, a “Material
Customer” and, collectively, the “Material Customers”). Except as set forth on
Schedule 4.19(a), no Material Customer has, within the twelve (12) months prior to the date hereof,
threatened in writing to cancel or otherwise terminate the relationship between such Material
Customer and the Bulk Gas Business.

          (b) All of the books, records and other documents (whether on paper, computer diskette, tape,
electronic or other storage media) relating to customers of the Bulk Gas Business have been
maintained in the Ordinary Course of Business.

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     4.20. Employees.

          (a) Schedule 4.20(a) lists all Employee Benefit and Compensation Plans. Schedule
4.20(a) separately identifies each Employee Benefit and Compensation Plan that is a (i)
multiemployer plan as defined in Section 3(37) of ERISA (a “MultiEmployer Plan”), (ii)
defined benefit plan subject to Title IV of ERISA, (iii) a multiple employer plan as defined in
Section 413(c) of the Code or (iv) provides for or makes available post-employment welfare benefits
or coverage with an aggregate annual cost that could reasonably be expected to exceed $250,000,
except as may be required under COBRA, at the expense of the employee or former employee. The
Sellers have made available to the Purchaser, as of the date of this Agreement, the most recent
estimate provided to the Operating Company by the MultiEmployer Plan set forth on Schedule 4.20(a)
of the amount of contingent withdrawal liability that the Operating Company and its ERISA
Affiliates would incur upon a complete withdrawal by the Operating Company and its ERISA Affiliates
from such MultiEmployer Plan.

          (b) Except as set forth on Schedule 4.20(b), (i) each Employee Benefit and Compensation Plan
has been established and administered, in all material respects, in accordance with its terms and
in compliance with the applicable provisions of ERISA, the Code and all other applicable Laws,
rules and regulations, (ii) with respect to any Employee Benefit and Compensation Plan, other than
routine applications for benefits, no Liens or lawsuits by any person or Governmental Body, formal
complaints by any Governmental Body or material complaints by any other person have been filed or
made against such Employee Benefit and Compensation Plan or the Companies or, to the knowledge of
the Sellers, against any other Person or party and, to the knowledge of the Sellers, no such Liens,
lawsuits or complaints are contemplated, have been threatened or are reasonably likely to occur and
(iii) except as would not reasonably be expected to result in material liability, no individual who
has performed services for either of the Sellers, either of the Companies, the Operating Company or
any of their respective Affiliates, as applicable, with respect to the Business, has been
improperly excluded from participation in any Employee Benefit and Compensation Plan.

          (c) Except as set forth on Schedule 4.20(c), (i) none of the Sellers, the Companies, the
Operating Company nor any of their Affiliates has terminated (or filed a notice of intent to
terminate) an employee benefit pension plan (within the meaning of Section 3(2) of ERISA) or taken
any other action with respect to any Employee Benefit and Compensation Plan that could reasonably
be expected to result in a Lien on any of the assets of the Companies or the Operating Company,
including any Bulk Assets, under Title IV of ERISA and (ii) no Action against any of the Sellers,
the Companies, the Operating Company, including any Bulk Assets, or any of their Affiliates that
could result in a Lien on any of the assets of the Companies or the Operating Company under Title
IV of ERISA has been commenced by any Third Party or, to the knowledge of the Sellers, is
threatened by any Third Party.

          (d) Except as set forth on Schedule 4.20(d), the transactions contemplated by this Agreement
and by the Restructuring Terms, and the Transaction Documents will not cause the Purchaser to incur
any liability with respect to the PBGC or under the Code or ERISA or otherwise, including any
MultiEmployer Plan withdrawal liability or with respect to benefits or compensation due to Business
Employees, in each case with respect to any Employee Benefit and Compensation Plan.

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          (e) With respect to the Business Employees and the Bulk Gas Business, except as set forth on
Schedule 4.20(e), which may be delivered by Sellers to Purchaser within one (1) day of the
execution of this Agreement:

               (i) no Collective Bargaining Agreement exists or, since January 1, 2002, has existed or been
in force or effect, between either of the Sellers, either of the Companies, the Operating Company
or any of their respective Affiliates, as applicable, on the one hand, and any labor organization,
on the other hand;

               (ii) none of the Sellers, the Companies, the Operating Company or any of their respective
Affiliates, as applicable, has received written notice that any representation question presently
exists, and no petition concerning representation under the National Labor Relations Act, as
amended, is or, since January 1, 2002, has been pending or to the knowledge of the Sellers,
threatened;

               (iii) no claims, charges, grievances, complaints of a formal nature or presented in writing
(collectively, “Covered Claims”) and no lawsuits, trials, hearings, adjudications or
proceedings brought by or on behalf of employees, unions or others who are or have been performing
work or services for either of the Sellers, either of the Companies, the Operating Company or any
of their respective Affiliates, as applicable (collectively, “Employment Claims”), since
January 1, 2002, have been initiated, are pending, or to the knowledge of the Sellers, are
threatened or have been resolved; Sellers, the Companies, the Operating Company and their
respective Affiliates (collectively “Seller Entities”) make the above representations with
respect to Covered Claims based on (i) information known or reasonably available to the current
human resources representatives or current other management personnel associated with the Seller
Entities; and (ii) written documents and records maintained by or reasonably available to current
human resources representatives or current other management personnel associated with the Seller
Entities; the parties agree it will not be considered a breach of this Agreement if the Seller
Entities inadvertently fail to set forth in Schedule 4.20(e) any Covered Claims beyond those
covered by subparts (i) and (ii) of this sentence; for the avoidance of doubt, as used in this
Section 4.20(e), Employment Claims are limited to matters that are or were the subject of a formal
investigation or brought before any court, agency, arbitrator, mediator, judge or Governmental Body
charged, in whole or in part, with oversight over employment or labor practices;

               (iv) no labor dispute, strike, picketing, public campaign or boycott, work slowdown, or work
stoppage is or, since January 1, 2002, has been pending or to the knowledge of the Sellers,
threatened;

               (v) no Order has been rendered or issued, and no settlement or agreement has been entered into
or executed, since January 1, 2002 regarding any matter set forth in this Section 4.20(e); and

               (vi) the Bulk Gas Business has been operated in compliance in all material respects with all
Labor Laws.

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          (f) Schedule 4.20(f) contains a true and complete list of all of the Business Employees as of
the date of this Agreement and will be revised at the Closing to contain a true and complete list
of all the Business Employees as of the Closing. Schedule 4.20(f) shall identify each Business
Employee’s date of hire, title, salary or hourly rate of pay, bonus target for the current fiscal
year, bonus actually paid or payable for the two (2) most recent fiscal years, other compensation
and work location and leave status, together with any vacancies. Except as set forth on Schedule
4.20(f), since December 31, 2005 and as of the date of this Agreement, no salary or wage rate
changes have been implemented by either of the Sellers, either of the Companies, the Operating
Company or any of their respective Affiliates with respect to the Business Employees except for
annual salary increases and promotions made in the Ordinary Course of Business or as may be
required by Law or Contract.

          (g) Seller has complied with WARN relative to any and all “employment losses” as defined in
WARN that have taken place up to the Closing Date.

          (h) Prior to the date hereof, the Sellers have provided, to their knowledge, to the Purchaser
a copy of each “Non-Competition Agreement” in effect for each Business Employee who works in a
senior executive or sales capacity and the form of agreement that is in effect, if any, for each
other Business Employee. As used here, “Non-Competition Agreement” shall mean any
restrictive covenant agreement that contains confidentiality provisions, non-competition provisions
or non-solicitation provisions.

     4.21. Compliance with Laws. Except as set forth in Schedule 4.21, except with respect
to Environmental Laws, Environmental Permits, Environmental Liabilities and any other matters
related thereto (which are covered exclusively by Section 4.22) and except with respect to Business
Employees, Employee Benefits and Compensation Plans and any other matters related thereto (which
are covered exclusively by Section 4.20), (a) each of the Sellers, each of the Companies and the
Operating Company, is, in all material respects, in compliance with all Laws pertaining to the Bulk
Gas Business, the Bulk Assets and the Leased Real Property and (b) none of the Sellers, the
Companies or the Operating Company has received any written notice of, nor have any of them been
charged in writing with, any violation of any material Law pertaining to Bulk Gas Business, the
Bulk Assets, the Leased Real Property, the Companies or the Operating Company.

     4.22. Environmental. Except as set forth in Schedule 4.22:

          (a) the Companies, the Operating Company, the Bulk Gas Business, the Bulk Assets and the
Leased Real Property are in compliance with all Environmental Laws;

          (b) each of the Sellers, each of the Companies and the Operating Company has obtained and is
in compliance with all Environmental Permits necessary for the operation of the Bulk Gas Business
as currently conducted by it, and there are no pending, or, to the knowledge of the Sellers,
threatened Actions or Orders to revoke or limit any such Environmental Permits;

          (c) there are no currently existing conditions, facts or circumstances that would reasonably
be likely to cause any Environmental Permit to be revoked or adversely

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revised, other than the expiry of such Environmental Permits in due course and there are no
currently existing conditions, facts or circumstances that would reasonably be likely to prevent
the renewal or replacement of such Environmental Permits on reasonable terms;

          (d) there are no pending Actions or Orders arising under or pursuant to any Environmental Law
relating to the operation of the Bulk Gas Business, and, to the knowledge of the Sellers, no such
Action or Order is threatened by any Governmental Body or private party;

          (e) there is no Condition on, under or about the Owned Real Property, the Leased Real Property
or the real property that is subject to the Real Property Leases for which there is a legal
obligation to perform any Remediation;

          (f) all material environmental investigation and/or assessment reports relating to the Owned
Real Property, the Leased Real Property or real property that is subject to the Real Property
Leases that have been issued after January 1, 2005 and that are in the possession or control of
either of the Sellers, any of the Companies, the Operating Company or any of their respective
Affiliates have been made available either to the Purchaser or its agents or representatives; and

          (g) this Section 4.22 is the exclusive representation and warranty of the Sellers with respect
to Environmental Laws, Environmental Liabilities, Environmental Permits and any other matters
related thereto.

     4.23. Taxes. Except as set forth in Schedule 4.23:

          (a) Company A, Company B and the Operating Company have not “checked the box” under applicable
Treasury Regulations to be treated as corporations for United States federal income tax purposes;

          (b) all Tax Returns required to be filed by or with respect to each of the Companies and the
Operating Company have been properly prepared and timely filed, and all such Tax Returns (including
information provided therewith or with respect to thereto) are true, complete and correct in all
respects;

          (c) each of the Companies and the Operating Company have fully and timely paid all Taxes owed
by each of them (whether or not shown on any Tax Return), and have made adequate provision for any
Taxes that are not yet due and payable, for all taxable periods, or portions thereof, ending on or
before the date hereof;

          (d) there are no outstanding agreements extending or waiving the statutory period of
limitations applicable to any claim for, or the period for the collection or assessment or
reassessment of, Taxes due from either of the Companies or the Operating Company for any taxable
period and no request for any such waiver or extension is currently pending;

          (e) no audit or other proceeding by any Governmental Body is pending or threatened with
respect to any Taxes due from or with respect to either of the Companies or the Operating Company,
and no Governmental Body has given notice of any intention to assert any

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deficiency or claim for additional Taxes against either of the Companies or the Operating
Company;

          (f) none of the Sellers, the Companies, the Operating Company or any of their respective
Affiliates has received written notice of any claim from any Governmental Body in a jurisdiction
where any of Companies or the Operating Company does not file Tax Returns that such entities are or
may be subject to taxation by that jurisdiction by reason of the operation of the Bulk Gas Business
or otherwise;

          (g) no Tax deficiencies (including penalties and interest) of any kind have been assessed
against any of the Companies or the Operating Company, other than deficiencies that have been
satisfied by payment or settlement, or withdrawn;

          (h) there are no Liens for Taxes upon the assets or properties of any of the Companies or the
Operating Company, including the Bulk Assets, except for Permitted Liens;

          (i) neither of the Companies nor the Operating Company have taken any reporting position on a
Tax Return, which reporting position (i) if not sustained would be reasonably likely, absent
disclosure, to give rise to a penalty for substantial understatement of federal income Tax under
Section 6662 of the Code (or any similar provision of state, local, or foreign Tax law), and (ii)
has not adequately been disclosed on such Tax Return in accordance with Section 6662(d)(2)(B) of
the Code (or any similar provision of state, local, or foreign Tax law);

          (j) none of the Companies or the Operating Company is a party to any agreement relating to the
sharing, allocation or indemnification of Taxes, or any similar agreement, contract or arrangement,
(collectively, “Tax Sharing Agreements”) or has any liability for Taxes of any Person under
Treasury Regulation § 1.1502-6, Treasury Regulation § 1.1502-78 or similar provision of state,
local or foreign law, as a transferee or successor, by contract, or otherwise;

          (k) each of the Companies and the Operating Company has withheld (or will withhold) from their
respective employees, independent contractors, creditors, stockholders and Third Parties and timely
paid to the appropriate Governmental Body proper and accurate amounts in all respects for all
periods ending on or before the Closing Date in compliance with all Tax withholding and remitting
provisions of applicable Laws and each has complied in all respects with all Tax information
reporting provisions of all applicable Laws;

          (l) none of the Companies or the Operating Company has agreed, or is required to make, any
adjustment under Section 481(a) of the Code, and no Governmental Body has proposed any such
adjustment or change in accounting method;

          (m) any adjustment of Taxes of any of the Companies or the Operating Company made by the
Internal Revenue Service (the “IRS”), which adjustment is required to be reported to the
appropriate state, local, or foreign Governmental Bodies, has been so reported;

          (n) none of the Companies or the Operating Company has executed or entered into a closing
agreement pursuant to Section 7121 of the Code or any similar provision of state,

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local or foreign law, and none of the Companies or the Operating Company is subject to any
private letter ruling of the IRS or comparable ruling of any other Governmental Body;

          (o) none of the Bulk Assets constitute “tax exempt use property” within the meaning of Section
168(h)(1) of the Code; and

          (p) none of the Bulk Assets is property required to be treated as being owned by another
person pursuant to the provisions of Section 168(f)(8) of the Internal Revenue Code of 1954, as
amended, and in effect immediately prior to the enactment of the Tax Reform Act of 1986.

     4.24. Transactions with Affiliates and Related Parties. Except as disclosed in
Schedule 4.24, there are no existing Contracts, transactions or other arrangements (“Affiliate
Arrangements”), between either of the Companies or the Operating Company, on the one hand, and
the Sellers or any of their Affiliates (other than the Companies or the Operating Company), on the
other hand. Except as set forth on Schedule 4.24 or as contemplated by the Restructuring, and
subject to the Transaction Documents, prior to the Closing, all such Affiliate Arrangements shall
be terminated without any liability or obligation to the applicable Company or the Operating
Company.

     4.25. Jefferson Capital Improvement. Prior to the date hereof the Jefferson Capital
Improvement has been substantially completed and all expenditures incurred in connection with the
Jefferson Capital Improvement do not in the aggregate exceed an amount equal to eleven million
fifty thousand dollars ($11,050,000), of which $9,088,438 has been paid as of November 20, 2006.

     4.26. No Other Representations and Warranties. Except for the representations and
warranties contained in this Agreement (as modified by the Schedules hereto and as supplemented and
amended in accordance with the terms of this Agreement), none of the Sellers, the Companies, the
Operating Company or any of their Affiliates or any other Person makes any other express or implied
representation or warranty with respect to the Bulk Gas Business, the Companies, the Operating
Company, the Purchased Equity Interest, the transactions contemplated by this Agreement, or with
respect to any financial information or other information provided to the Purchaser, whether on
behalf of the Sellers, the Companies, the Operating Company or any of their Affiliates or such
other Persons, including as to (a) merchantability or fitness of any assets or properties for any
particular use or purpose, (b) the use of the assets of the Bulk Gas Business and the operation of
the Bulk Gas Business by the Purchaser after the Closing or (c) the probable success or
profitability of the ownership, use or operation of the Companies, the Operating Company or the
Bulk Gas Business by the Purchaser after the Closing, and each of the Sellers, the Companies and
the Operating Company disclaims any representations or warranties not contained in this Agreement,
whether made by the Sellers, the Companies, the Operating Company or any of their Affiliates,
officers, directors, employees, agents or representatives. Except for the representations and
warranties contained in this Agreement (as modified by the Schedules, as supplemented in accordance
with the terms of this Agreement), each of the Sellers, the Companies and the Operating Company
hereby disclaims all liability and responsibility for any representation, warranty, projection,
forecast, statement, or information made, communicated, or furnished (orally or in writing) to the
Purchaser or its

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Affiliates or representatives (including any opinion, information, projection, or advice that
may have been or may be provided to the Purchaser by any director, officer, employee, agent,
consultant, or representative of the Sellers, the Companies, the Operating Company or any of their
Affiliates).

SECTION 5

REPRESENTATIONS AND WARRANTIES OF THE PURCHASER

          The Purchaser represents and warrants to the Sellers as follows:

     5.1. Corporate Organization. The Purchaser is a corporation duly organized, validly
existing and in good standing under the laws of the State of Delaware. It has all requisite
corporate power to own, lease and operate its properties and to carry on its business as now being
conducted.

     5.2. Corporate Authority. The Purchaser has all requisite corporate power and
authority (a) to enter into, execute and deliver each applicable Transaction Document, (b) to
consummate the transactions contemplated by each applicable Transaction Document, and (c) to
perform fully its obligations under each applicable Transaction Document. All corporate acts and
other proceedings required to be taken by or on the part of the Purchaser and its stockholders to
authorize it to execute, deliver and perform the Transaction Documents and the transactions
contemplated thereby have been duly and properly taken, and no other corporate action by the
Purchaser or its stockholders is required for the due execution, delivery or performance of this
Agreement or the other Transaction Documents. This Agreement has been duly authorized, executed
and delivered by the Purchaser and constitutes, and each of the other Transaction Documents has
been duly authorized by the Purchaser and when duly executed and delivered by the Purchaser will
constitute, valid and binding obligations of the Purchaser, enforceable against the Purchaser in
accordance with their respective terms, assuming due execution and delivery hereof and thereof by
the Sellers and except as limited by applicable bankruptcy, insolvency, reorganization, moratorium
or other similar Laws, now or hereafter in effect, relating to, or affecting the rights of
creditors or creditors’ rights generally or by general principles of equity (regardless of whether
such enforcement is considered in a proceeding at law or in equity).

     5.3. No Violation. Except for the Consents to be obtained under Section 4.6 and the
making of all filings and notifications set forth in Schedule 5.4, the execution and delivery by
the Purchaser of the Transaction Documents and its consummation of the transactions contemplated
thereby will not (a) violate the certificate of incorporation or bylaws of the Purchaser, (b)
violate any Law by which the Purchaser is bound or subject, (c) result in the creation of a Lien on
the assets of the Purchaser or (d) violate, conflict with or result in any breach of any provision
of, or constitute, whether after the giving of notice or lapse of time or both, a default under any
Contract to which the Purchaser is a party, excluding, in the case of the foregoing clauses (b),
(c) and (d), violations, breaches and defaults which, either individually or in the aggregate,
would not reasonably be expected to have a material adverse effect on the Purchaser’s ability to
consummate the transactions contemplated by the Transaction Documents.

     5.4. Governmental Approvals. No Consent of any Governmental Body is required in
connection with the execution and delivery by the Purchaser of the Transaction Documents or its

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consummation of the transactions contemplated thereby or its performance of any of the
provisions thereof on or after the Closing Date, except (a) the approval of this Agreement by the
FTC, (b) where the failure to obtain such Consent would not have a material adverse effect on the
Purchaser’s ability to consummate the transactions contemplated by the Transaction Documents to
which it is or shall be a party and (c) those set forth in Schedule 5.4.

     5.5. Financing. Concurrently with the execution of this Agreement, the Purchaser has
delivered a true, correct and complete copy of the $1.6 billion senior unsecured credit facility,
effective as of July 25, 2006 (the “Credit Agreement”) among the Purchaser and Bank of
America, N.A., as U.S. Agent, The Bank of Nova Scotia, as Canadian Agent, JPMorgan Chase Bank,
N.A., as Syndication Agent, and certain other lenders, to provide the Purchaser with debt financing
of up to $1.6 billion (the “Financing”). Subject to its terms and conditions, the
Financing when funded, together with the Purchaser’s cash on hand, will provide the Purchaser
financing sufficient to pay the Purchase Price and to consummate the transactions contemplated
hereby.

     5.6. Employee Benefits. Prior to the date of this Agreement, the Purchaser has
provided to the Sellers a true and complete summary of the material benefits that it currently
offers to employees who are similarly situated to the Transferred Employees.

     5.7. Independent Investigation; Sellers’ Representations.

          Except for the representations and warranties contained in this Agreement (as modified by the
Schedules hereto and as supplemented and amended in accordance with the terms of this Agreement),
the Purchaser acknowledges and agrees that neither of the Sellers, the Companies, the Operating
Company or any of their Affiliates or any other Person makes any other express or implied
representation or warranty with respect to the Companies, the Operating Company, the Purchased
Equity Interests, the Bulk Gas Business or the transactions contemplated by this Agreement, or with
respect to any financial information or other information provided to the Purchaser, whether on
behalf of the Sellers, the Companies, the Operating Company or any of their Affiliates or such
other Persons, including as to (a) merchantability or fitness of any assets or properties for any
particular use or purpose, (b) the use of the assets of the Bulk Gas Business and the operation of
the Bulk Gas Business by the Purchaser after the Closing or (c) the probable success or
profitability of the ownership, use or operation of the Companies, the Operating Company or the
Bulk Gas Business by the Purchaser after the Closing, and each of the Sellers, the Companies and
the Operating Company disclaims any representations or warranties not contained in this Agreement,
whether made by the Sellers, the Companies, the Operating Company or any of their Affiliates,
officers, directors, employees, agents or representatives. The Purchaser acknowledges and agrees
that, except for such representations and warranties contained therein, the Companies, the
Operating Company, their assets and properties and the Bulk Gas Business are being transferred on a
“where is” and, as to condition, “as is” basis. Any claims Purchaser may have for breach of
representation or warranty shall be based solely on the representations and warranties set forth in
this Agreement (as modified by the Schedules hereto and as supplemented and amended in accordance
herewith). Except as set forth in this Agreement, none of the Sellers, the Companies, the
Operating Company or any of their Affiliates or any other Person will have or be subject to any
liability or indemnification obligation to the Purchaser or any other person resulting from the

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distribution to the Purchaser, or the Purchaser’s use of, any such information, document, or
material made available to the Purchaser in the data room, management presentations or in any other
form in expectation of the transactions contemplated by this Agreement. Accordingly, Purchaser
represents and warrants that it is relying on no representations, warranties or disclosures by the
Sellers, the Companies, the Operating Company or any of their Affiliates or any other Person as an
inducement to enter into this Agreement or to consummate the transactions contemplated herein,
other than as set forth in this Agreement.

SECTION 6

FURTHER COVENANTS

          The parties hereto hereby further covenant and agree as follows:

     6.1. Access to Information and Documents; Pre-Closing Cooperation.

          (a) From and after the date hereof until the Closing Date, to the extent permitted by the FTC
Orders, the Sellers shall, and shall cause the Companies and the Operating Company to, give the
officers, employees, representatives, financing sources, accountants and other designees of the
Purchaser (collectively, the “Purchaser Parties”) reasonable access, during reasonable
business hours following reasonable prior notice, to the Real Property, properties, written
Contracts (redacted to remove identifying information for customers with unredacted copies being
provided at least ten (10) days prior to the Closing Date and other assets, books and records and
officers and employees of the Companies and the Operating Company related to the Bulk Gas Business
and the Bulk Assets and to reasonably furnish to the Purchaser and its aforesaid representatives
such financial, technical, operating and other information of the Companies and the Operating
Company pertaining to the Bulk Gas Business and the Bulk Assets as shall exist and as the Purchaser
shall from time to time reasonably request and shall provide such assistance as is reasonably
requested by the Purchaser in connection with third-party appraisers determining fair market
valuations relating to tangible and intangible assets; provided, however, that each
such outside representative, financing source, accountant or other designee of the Purchaser shall
first execute an instrument reasonably satisfactory to the Sellers to agree to be subject to a duty
to maintain the confidentiality of any information so received in accordance with the terms of the
Confidentiality Agreement. Such reasonable access shall not include access for the preparation of
either Phase I or Phase II environmental assessments. No investigation by the Purchaser or the
Purchaser Parties shall diminish or obviate any of the representations or warranties of the Sellers
contained in this Agreement. All requests for access to the Real Property, properties, written
Contracts and other assets, books and records, and officers and employees of the Bulk Gas Business,
the Companies or the Operating Company shall be made to such representatives of the Sellers as the
Sellers shall designate, who shall respond promptly to any reasonable requests by the Purchaser and
shall be solely responsible for coordinating all such requests and all access permitted hereunder,
and no such access or such request for access shall be made through or by any other person.
Sellers shall be entitled to have a representative attend any meetings between the Purchaser or its
representatives and any employee of the Companies or the Operating Company.

          (b) Without limiting the generality of the foregoing, from and after the date hereof until the
Closing Date, to the extent permitted by the FTC Orders, the Sellers, on the one

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hand, and the Purchaser, on the other hand, shall use commercially reasonable efforts to cause
their respective Affiliates, representatives, suppliers and service providers to cooperate in good
faith with the other party to enable the orderly transition of the Bulk Gas Business. The Sellers
shall use commercially reasonable efforts to assist the Purchaser in transitioning the functions of
the Bulk Gas Business, including (i) conducting demonstrations of business processes and systems,
(ii) assisting in the transfer and implementation of the information technology applications and
databases used in the Bulk Gas Business, (iii) cooperating with the Purchaser to communicate with
customers and Business Employees notifying them of the transaction and resultant change in
ownership of the Bulk Gas Business and other particulars associated with the transition to the
Purchaser, (iv) developing a plan for termination or transition of benefit plans and (v) providing
information necessary to migrate payroll and benefits information. Promptly following the date
hereof, the parties shall designate appropriate personnel and cooperate to develop processes to
implement the activities contemplated by this Section 6.1. Notwithstanding anything in this
Section 6.1 to the contrary, the access, cooperation and assistance to be provided hereunder shall
not unreasonably interfere with the Sellers’ and their Affiliates’ business or any of their
employees’ duties to the Sellers or their Affiliates. The parties agree that the integration of
the Bulk Gas Business with the Purchaser’s business and operations is the Purchaser’s
responsibility and shall be at the risk of the Purchaser, and without diminishing their obligations
under this Section 6.1, the Sellers make no representation or warranty or other assurance of the
success of the Purchaser’s integration activities.

          (c) Each Party shall cause to be preserved and kept all records retained by it relating to the
Companies and the Operating Company for such period from and after the Closing as may be required
by or needed for compliance with applicable Law. Notwithstanding the foregoing, following the
Closing, the Purchaser shall, and shall cause the Companies and the Operating Company to, retain
all Books and Records and other documents or written information pertaining to the Bulk Gas
Business, the Bulk Gas Assets, the Companies or the Operating Company in accordance with Laws and
standard industry practice.

     6.2. Assistance Relating to Warranty Rights. Each of the parties shall use its
commercially reasonable efforts to cooperate with the other party as such other party may
reasonably request in connection with any claim that such other party may desire to make against a
Third Party under any warranty or other right relating to the Bulk Gas Business or the Bulk Assets.

     6.3. Confidentiality Agreements.

          (a) For a period of two (2) years from the Closing Date, the Sellers shall keep, and shall
cause their Affiliates and their respective employees to keep, any and all confidential and
proprietary information, know-how, technical information, formulae or trade secrets to the extent
relating primarily to the Bulk Gas Business, the Bulk Assets (including customer lists and related
information), the Companies or the Operating Company, excluding know-how, technical information,
formulae, trade secrets or similar information to the extent it is not solely related to the Bulk
Gas Business, the Bulk Assets, the Companies or the Operating Company or that is applicable to the
industries in which the Bulk Gas Business operates generally (collectively, “BGB
Information”), confidential and shall not disclose any BGB Information to any Person and shall
not use any BGB Information for their own purposes or advantages unless and until such

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information (i) is or becomes a matter of public knowledge through no breach by the Sellers or
any of their Affiliates of any obligation to the Purchaser or its Affiliates, (ii) is lawfully
acquired from a Third Party without restrictions of confidentiality, (iii) is independently
developed by the Sellers or their Affiliates without reliance on other BGB Information, or (iv) is
required to be disclosed by applicable Law, subpoena or other legal process; provided; that in case
of any potential disclosure under this subclause (iv), the Sellers shall provide the Purchaser with
prompt notice of such requirement, including copies of subpoenas or Orders requesting or ordering
such BGB Information, cooperate reasonably with the Purchaser in resisting the disclosure of such
BGB Information via a protective Order or other appropriate legal action. The parties acknowledge
and agree that, following the consummation of the transactions contemplated hereby, the Sellers and
their Affiliates will continue to own and operate air separation units, bulk gas businesses and
other businesses that are similar to the Bulk Gas Business. Accordingly, this Section 6.3(a) is
not intended to restrict the Sellers or their Affiliates from retaining, Utilizing and disclosing
any know-how, technical information, formulae or trade secrets or other information which relates
to the operation of such air separation units or the producing, refining, distributing, marketing,
selling, supplying, manufacturing, purchasing, preparing, purifying, transfilling, storing or
packaging of industrial gases and providing related services generally, whether or not such
information was Utilized or developed in connection with the Bulk Gas Business, and provided that
such retention, use or disclosure does not otherwise violate the Sellers’ obligations hereunder.
All of the Purchaser’s rights hereunder to prevent the Sellers or their Affiliates from soliciting,
contracting with or otherwise dealing with customers are set forth in Section 6.4, and this Section
6.3(a) is not intended to supersede, conflict with or otherwise expand such rights. This Section
6.3 is not intended to increase or reduce the Purchaser’s rights to Intellectual Property
hereunder. The parties expressly acknowledge that there shall be no restriction on the use by any
party or its Affiliates of any information with respect to potential customers who are not Covered
Customers.

          (b) For a period of two (2) years from the date hereof, to the extent permitted by the FTC
Orders, the Sellers shall not, and shall cause their Affiliates and their respective employees not
to, use for its or their own purposes or advantages (other than in preparation for the orderly
transition of operational control of the Bulk Gas Business, the Bulk Assets, the Companies or the
Operating Company to the Purchaser during the transition period contemplated by the Transition
Services Agreement) or publish or disclose to any Third Party (other than legal and financial
consultants of the Sellers who are subject to a duty to the Purchaser or any of its Affiliates to
maintain the confidentiality of the information) any confidential or proprietary information,
know-how, technology information, analysis, compilations, studies, formulae, trade secret or other
documents prepared by or obtained from the Purchaser (including legal and other professional
advisors, accountants, consultants and financial advisors) in connection with the negotiation and
consummation of the transactions contemplated by this Agreement and the Transaction Documents,
including business and financial information, no matter how obtained (orally, in writing or
observed), or any analysis, compilations, studies and other records and documents prepared by the
Sellers, the Companies, the Operating Company or any of their respective Affiliates (including
legal and other professional advisors, accountants, consultants and financial advisors) which
contain or otherwise reflect such information (collectively, “Purchaser Information”),
unless and until such Purchaser Information (i) is or becomes a matter of public knowledge through
no breach by the Sellers, their Affiliates or their respective employees of any obligation to the
Purchaser or its Affiliates, (ii) is lawfully acquired from a

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Third Party without restrictions of confidentiality, (iii) is independently developed by the
Sellers or their Affiliates without reliance on other Purchaser Information, or (iv) is required to
be disclosed by applicable Law, subpoena or other legal process; provided, that in case of
any potential disclosure under this subclause (iv), the Sellers shall provide the Purchaser with
prompt notice of such requirement, including copies of subpoenas or Orders requesting or requiring
such Purchaser Information, cooperate reasonably with the Purchaser in resisting the disclosure of
such Information via a protective Order or other appropriate legal action. Upon (x) the
termination of this Agreement in accordance with its terms or (y) the later of the Closing and the
expiration of any transition period provided under the Transition Services Agreement, if the
Closing shall have occurred, the Sellers shall not keep or take, and shall promptly return or
destroy, any and all Purchaser Information, and shall not keep or take, and shall promptly return
or destroy, any document or other thing embodying any such Purchaser Information; provided
that the Sellers shall not be obligated to return any Purchaser Information that may be stored on
computer back-up tapes or other electronic storage system that is commercially impracticable to
access in order to facilitate the return of any such Purchaser Information in accordance with this
Section 6.3(b); provided, further, that unless any such Purchaser Information
retained on computer back-up tapes and other electronic storage system is subject to eventual
irretrievable destruction or deletion (in which case, the obligations of the Sellers under the
first sentence of this Section 6.3(b) shall apply to such Purchaser Information until the time such
information is so destroyed or deleted), such obligation shall apply to such Purchaser Information
indefinitely. With respect to any Purchaser Information that the Sellers destroy pursuant to the
foregoing sentence, the Sellers shall promptly provide the Purchaser with a certificate, signed by
an appropriate officer of the Sellers, certifying the destruction of any such document or other
thing embodying any such Purchaser Information.

          (c) For a period of two (2) years from the date hereof, the Purchaser shall not, and shall
cause its Affiliates and their respective employees not to, use for its or their own purposes or
advantages (other than in preparation for the orderly transition of operational control of the Bulk
Gas Business, the Bulk Assets, the Companies or the Operating Company to the Purchaser during the
transition period contemplated by the Transition Services Agreement) or publish or disclose to any
Third Party (other than legal and financial consultants of the Purchaser who are subject to a duty
to the Sellers and their Affiliates to maintain the confidentiality of the information) any
confidential or proprietary information, know-how, technology information, analysis, compilations,
studies, formulae, trade secret or other documents that is not BGB Information prepared by or
obtained from the Sellers or BOC (including legal and other professional advisors, accountants,
consultants and financial advisors) in connection with the negotiation and consummation of the
transactions contemplated by this Agreement and the Transaction Documents, including business and
financial information, no matter how obtained (orally, in writing or observed), or any analysis,
compilations, studies and other records and documents prepared by the Sellers (including legal and
other professional advisors, accountants, consultants and financial advisors) which contain or
otherwise reflect such information (collectively, “Seller Information”), unless and until
such Seller Information (i) is or becomes a matter of public knowledge through no breach by the
Purchaser, its Affiliates or their respective employees of any obligation to the Sellers or their
Affiliates, (ii) is lawfully acquired from a Third Party without restrictions of confidentiality,
(iii) is independently developed by the Purchaser or its Affiliates without reliance on other
Seller Information, or (iv) is required to be disclosed by applicable Law, subpoena or other legal
process; provided, that in case of any

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potential disclosure under this subclause (iv), the Purchaser shall provide the Sellers with
prompt notice of such requirement, including copies of subpoenas or Orders requesting or requiring
such Seller Information, cooperate reasonably with the Sellers in resisting the disclosure of such
Information via a protective Order or other appropriate legal action, and shall not make disclosure
pursuant thereto until the Sellers have had a reasonable opportunity to resist such disclosure.
Upon (x) the termination of this Agreement in accordance with its terms or (y) the later of the
Closing and the expiration of any transition period provided under the Transition Services
Agreement, if the Closing shall have occurred, the Purchaser shall not keep or take, and shall
promptly return or destroy, any and all Seller Information, and shall not keep or take, and shall
promptly return or destroy, any document or other thing embodying any such Seller Information;
provided that the Purchaser shall not be obligated to return any Seller Information that
may be stored on computer back-up tapes or other electronic storage system that is commercially
impracticable to access in order to facilitate the return of any such Seller Information in
accordance with this Section 6.3(c); provided, further, that unless any such Seller
Information retained on computer back-up tapes and other electronic storage system is subject to
eventual irretrievable destruction or deletion (in which case, the obligations of the Purchaser
under the first sentence of this Section 6.3(c) shall apply to such Seller Information until the
time such information is so destroyed or deleted), such obligations shall apply to Seller
Information indefinitely. With respect to any Seller Information that the Purchaser destroys
pursuant to the foregoing sentence, the Purchaser shall promptly provide the Purchaser with a
certificate, signed by an appropriate officer of the Purchaser, certifying the destruction of any
such document or other thing embodying any such Seller Information.

          (d) Upon the termination of this Agreement in accordance with its terms prior to the Closing,
the Purchaser shall not keep or take, and shall promptly return or destroy, any and all BGB
Information, and shall not keep or take, and shall promptly return or destroy, any document or
other thing embodying any such BGB Information; provided that the Purchaser shall not be
obligated to return any BGB Information that may be stored on computer back-up tapes or other
electronic storage system that is commercially impracticable to access in order to facilitate the
return of any such BGB Information in accordance with this Section 6.3(d); provided,
further, that unless any such BGB Information retained on computer back-up tapes and other
electronic storage system is subject to eventual irretrievable destruction or deletion (in which
case, the obligations of the Purchaser under the first sentence of Section 6.3(c) in connection
with Seller Information shall apply indefinitely to such BGB Information until the time such
information is so destroyed or deleted), such obligations shall apply to BGB Information
indefinitely. With respect to any BGB Information that the Purchaser destroys pursuant to the
foregoing, the Purchaser shall promptly provide the Sellers with a certificate, signed by an
appropriate officer of the Purchaser, certifying the destruction of any such document or other
thing embodying any such BGB Information.

     6.4. Non-Solicitation of Customers.

          (a) Non-Solicitation of Customers. In order that the Purchaser may have and enjoy the
full benefit of the Bulk Gas Business, the Companies and the Operating Company and as an inducement
to the Purchaser to enter into this Agreement (without which inducement the Purchaser would not
have entered into this Agreement), the Guarantor hereby agrees that the Guarantor shall not, and
the Guarantor shall cause its Affiliates (including the Sellers) not to,

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directly or indirectly, for a period of two (2) years from the Closing Date (such two-year
period, the “Non-Solicitation Period”), (x) sell to any Person who is or was a party to a
Customer Contract or who otherwise purchased or received (or contracted or committed to purchase or
receive) products (or related services or equipment) of the Bulk Gas Business (the “Purchased
Product”), in each case, during the period between January 1, 2005 and the Closing Date (each a
“Covered Customer”), or (y) otherwise solicit the sale to any Covered Customer of such
Covered Customer’s Purchased Product from (i) the location at which such Person purchased or
received (or contracted or committed to purchase or receive) any such products (or related services
or equipment) and (ii) if such Person relocates its place of business at any time during the
Non-Solicitation Period to a location within a one hundred (100) mile radius of the location
described in clause (i) of this Section 6.4(a), then such new location (such locations (i) and
(ii), the “Purchase Location”). For purposes of this Section 6.4: (1) “Covered
Customer” shall exclude those customers identified on Schedule 4.18(c) as spot sales customers;
(2) for Covered Customers who are parties to Existing Customer Contracts, “Purchased
Product” means the product or products set forth on Schedule 4.18(c) for such customer; and (3)
for Covered Customers party to Existing Customer Contracts, the “Purchase Location”
described in the foregoing clause (i) means the location set forth on Schedule 4.18(c) for such
customer.

For the avoidance of doubt, this Section 6.4(a) shall not restrict the Sellers, Guarantor or their
Affiliates from soliciting the sale or license of or selling or licensing (x) any product, service,
equipment or asset or right (including Intellectual Property) to any Covered Customer other than
such Covered Customer’s Purchased Product and any product, service or equipment of any Excluded
Business, (y) any Purchased Product to any Covered Customer at any location other than such Covered
Customer’s Purchase Location or (z) products (or related services or equipment) of the Bulk Gas
Business to Third Party Distributors which may re-package and/or resell such products to Persons
who are parties to Customer Contracts; provided, that the Guarantor or any of its
Affiliates do not direct such Third Party Distributor to such Covered Customer, direct such Covered
Customer to such Third Party Distributor or engage in joint marketing efforts targeted specifically
at such Covered Customer or take any other action that is intended to circumvent the protections
provided by this Section 6.4(a).

          (b) Notwithstanding the foregoing, the Guarantor and its Affiliates shall have the right at
any time to (i) solicit sales of or sell any products (and related services or equipment),
individually or together with any Third Party Partner or Third Party Distributor, to any customer
(or potential customer) who desires to purchase such products (or services or equipment) from one
or a group of coordinated suppliers and receive such product (or services or equipment) at multiple
locations (a “Multi Location Customer”), so long as (x) the customer or potential customer
is not as of the Closing, and since January 1, 2005 has not been, a Multi Location Customer of the
Bulk Gas Business such that it received such product at each such location from the Bulk Gas
Business and (y) the Guarantor or such Affiliate offers the Purchaser the opportunity to sell to
the Guarantor or such Affiliate during any remaining portion of the Non-Solicitation Period the
volume of Purchased Product to be delivered to such Multi Location Customer at the location from
which such Multi Location Customer received the Purchased Product from the Bulk Gas Business;
provided that the price at which such product is sold by the Purchaser to the Guarantor or
such Affiliate is the last prevailing price for such product under the Product Supply Agreement;
and provided further, that if the Purchaser delivers the Purchased Product
to the Multi Location Customer, then the Guarantor or such Affiliate shall remit all

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payments received from such Multi Location Customer for such Purchased Product to the
Purchaser, (ii) acquire or sell any bulk gas product from or to a competitor of the Purchaser for
use in any Excluded Businesses, including those parties noted on Schedule 4.18(c) as competitors,
or (iii) actively participate in any trade organizations of which the Sellers or their Affiliates
are a member that advocate single sourcing of bulk and packaged gas products, so long as such
activities are not designed primarily as a circumvention of the Guarantor’s obligations under this
Section 6.4. Purchaser acknowledges that BOC and its subsidiaries shall have the right to sell
products and otherwise perform under contracts that BOC or such subsidiaries have with any other
Person that are in existence on the date hereof (or to possibly be entered into with respect to the
product(s) and with the Person identified on Schedule 6.4(b)) with respect to products subject to
such contract and to renew or replace such contracts with respect to the products covered by such
original contracts. The Purchaser hereby acknowledges that none of the Sellers or any of their
Affiliates has any right or obligation to prevent any Third Party Partner or Third Party
Distributor from offering on its own behalf and for its own account bulk gases and related products
and services to any Person.

          (c) Restrictive Covenants. In the event of a breach of any of the provisions of this
Section 6.4 (the “Restrictive Covenants”), the Purchaser shall have the right and remedy
without regard to any other available remedy to (i) have the Restrictive Covenants specifically
enforced by any court of competent jurisdiction and (ii) have issued an injunction restraining any
such breach without posting of a bond; it being agreed that any breach of any of the Restrictive
Covenants would cause irreparable and material loss and damage to the Purchaser, the amount of
which cannot be readily determined and as to which it will not have an adequate remedy at law or in
damages. In the event of a willful and material breach of any of the Restrictive Covenants by any
of the Guarantor, the Sellers and/or any of their Affiliates and with respect to which the
Purchaser has provided written notice to the Sellers prior to expiration of the Non-Solicitation
Period, the Non-Solicitation Period shall be extended by a period equal to the duration of such
breach (but in no event for a period greater than twelve (12) months from the last day of the
Non-Solicitation Period).

          (d) Blue-Penciling. It is the desire and intent of the parties that the Restrictive
Covenants will be enforced to the fullest extent permissible under the laws and public policies
applied in each jurisdiction in which enforcement is sought. Accordingly, if any Restrictive
Covenant shall be adjudicated to be invalid or unenforceable, such Restrictive Covenant shall be
deemed amended to the extent necessary in order that such provision be valid and enforceable, such
amendment to apply only with respect to the operation of such Restrictive Covenant in the
particular jurisdiction in which such adjudication is made.

          (e) Severability of Restrictive Covenants. The parties acknowledge and agree that the
Restrictive Covenants are necessary for the protection and preservation of the value and the
goodwill of each party’s business, and are reasonable and valid in geographical and temporal scope
and in all other respects. If any court of competent jurisdiction determines that any of the
Restrictive Covenants, or any part thereof, is invalid or unenforceable, the remainder of the
Restrictive Covenants shall not thereby be affected and shall be given full effect without regard
to the invalid portions.

     6.5. Non-Solicitation of Employees.

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          (a) Subject to the provisions of Section 6.5(b), the Guarantor hereby covenants and
agrees on behalf of itself and its Affiliates (including the Sellers) that (x) from and after the
Closing Date until eighteen (18) months thereafter, neither it nor any of its Affiliates (including
the Sellers) shall directly or indirectly hire for employment (or make offers of employment to) any
Transferred Employee that is primarily responsible for procurement of sales of the products and
services of the Bulk Gas Business (“BGB Sales Representatives”) and (y) from and after the
Closing Date until twelve (12) months thereafter, neither it nor any of its Affiliates (including
the Sellers) shall directly or indirectly hire for employment (or make offers of employment to) any
Transferred Employee that is not a BGB Sales Representative.

          (b) Section 6.5(a) shall not apply if any Transferred Employee has been terminated by the
Purchaser or its Affiliates for any reason; provided, however, that if any
Transferred Employee is terminated and is paid severance by the Purchaser or its Affiliates, then
Section 6.5(a) shall apply to such employee for a period equal to the shorter of (x) twelve (12)
months following the Closing and (y) the period following such termination equal to the amount of
time over which such employee receives severance; provided, further,
however, that the Seller or its Affiliates shall have the right to cause Section 6.5(a) to
cease to apply to any terminated Transferred Employee receiving severance from the Purchaser by
paying to the Purchaser in cash an amount equal to the remaining severance due the employee for the
period from the hiring of such employee until the end of the severance period (if the employee is
entitled to continue receiving severance after being rehired).

     6.6. Consents and Approvals, etc. 

          (a) Subject to Section 6.6(b) and to the extent permitted by the FTC Orders, the Sellers and
the Purchaser agree to use their commercially reasonable efforts to obtain all Consents of all
Governmental Bodies and other Persons required in connection with the transactions contemplated
hereby and by the Restructuring, including for the execution, delivery and performance of this
Agreement and transfer of the Bulk Gas Business, the Bulk Assets, the Companies, the Operating
Company and the Purchased Equity Interests to be acquired hereunder by the Purchaser.

          (b) Notwithstanding Section 6.6(a), in connection with the Restructuring, the Sellers agree to
use their commercially reasonable efforts to (i) obtain any and all necessary Consents of all
Governmental Bodies and other Persons; provided, that to the extent any such Permit
(including any Environmental Permit) is not transferable to the Operating Company, the Sellers
agree to use their commercially reasonable efforts to cooperate with the Operating Company, at the
Purchaser’s reasonable request and expense, to assist the Operating Company in its efforts to
obtain substantially equivalent permits to such Permits used in the Bulk Gas Business, and (ii)
obtain the Consent of any Third Party to any Bulk Contract or Real Property Lease to facilitate the
transfer, assignment or license thereof to the Operating Company, in all cases in which such
Consent is required for the assignment or license, as the case may be.

          (c) The Guarantor shall promptly file a petition with the FTC for approval of this Agreement
and of the Purchaser as the buyer of the Bulk Gas Business, the Bulk Assets and Purchased Equity
Interests, and the parties shall promptly submit any additional information necessary or requested
by the FTC in connection with such submission and the FTC’s

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consideration of the transactions contemplated by this Agreement and by the Restructuring
Terms. Each party shall promptly inform the other party of any material communication made by such
party to, or received by such party from, the FTC and any requests for additional information from
any Governmental Body with respect to the transactions contemplated by this Agreement and by the
Restructuring Terms or any Transaction Document. Each party shall use its reasonable best efforts
to take any and all steps necessary to obtain the FTC’s approval of the Purchaser as the buyer of
the Bulk Gas Business, the Bulk Assets and Purchased Equity Interests so as to enable the Closing
to occur as soon as reasonably possible. In the event the FTC requests any changes to this
Agreement or the transactions contemplated hereby, the parties agree to negotiate in good faith to
reach a mutually acceptable amendment which reflects such requested changes and preserves the
economic benefits intended to be obtained by each party from the transactions contemplated hereby
and by the Restructuring Terms. Notwithstanding anything to the contrary contained herein, (i)
nothing in this Agreement shall require, or be construed to require, the Purchaser, in connection
with the receipt of any regulatory approval, to proffer or agree to (A) sell or hold separate or
agree to sell or divest before or after the Closing Date, any material amount of assets, businesses
or interests in any assets (including the Bulk Assets) or businesses of the Purchaser, the
Companies, the Operating Company or the Bulk Gas Business (or to consent to any sale, or agreement
to sell, by the Purchaser of any material amount of its assets (including the Bulk Assets) or
businesses or the Bulk Gas Business) or (B) any conditions relating to, or changes or restriction
in, the operation of any such assets or businesses that would impose a material condition, change
or restriction on the Purchaser’s operation of any such assets or businesses (under either clause
(A) or (B), each a “Material Restriction”) and (ii) neither the Guarantor nor the Sellers
shall, in connection with the receipt of any regulatory approval, proffer or agree to any Material
Restriction; provided, however, that if the FTC requests any Material Restriction,
then, unless the Purchaser indicates in writing its acceptance of such Material Restriction within
ten (10) days of such FTC request, Section 6.9(a) shall automatically terminate and the Sellers
shall be entitled to terminate this Agreement upon written notice to such effect to the Purchaser.

     6.7. Rebates and Discounts. The Purchaser agrees that it shall promptly transfer or deliver or cause to be promptly
transferred or delivered, to the Sellers that portion of all rebates, discounts or similar amounts
that the Purchaser, the Companies or the Operating Company or any of their respective Affiliates
may receive on or after the Closing Date, if any, that relate to the operation of the Bulk Gas
Business or the purchase of goods and services, in each case, by the Sellers, the Companies or the
Operating Company prior to the Closing Date The Sellers shall promptly transfer or deliver, or
cause to be promptly transferred or delivered, to the Purchaser that portion of all rebates,
discounts or similar amounts that the Sellers may receive on or after the Closing Date that relate
to the purchase of goods and services by the Purchaser, the Companies or the Operating Company or
any of their respective Affiliates on or after the Closing Date.

     6.8. Conduct of the Bulk Gas Business Prior to the Closing Date. During the period
from the date hereof to the Closing Date, except as (A) set forth on
Schedule 6.8, (B) otherwise expressly contemplated by the Transaction Documents, (C) consented to
in writing by the Purchaser (which consent shall not be unreasonably withheld
or delayed), (D) required by applicable Law or (E) contemplated by the Restructuring Terms, to
the extent permitted by the FTC Orders, the Sellers shall, or shall cause the Companies, the
Operating Company or any of

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their respective Affiliates to, conduct the Bulk Gas Business in the
Ordinary Course of Business and not in a manner inconsistent with how the Bulk Gas Business would
be conducted if the Sellers were not selling the Purchased Equity Interests and shall use their
commercially reasonable efforts to (i) preserve the goodwill of the Bulk Gas Business, (ii)
preserve relationships with customers, suppliers, licensors, distributors, landlords, employees,
agents and other Persons in connection with the Bulk Gas Business, and (iii) maintain sales force
activities. Without limiting the generality of the foregoing and except for the Restructuring,
during the period from the date hereof to the Closing Date, to the extent permitted by the FTC
Orders, the Sellers shall not, and shall cause the Companies, the Operating Company and their
Affiliates, not to:

          (a) (i) sell, convey, assign, subject to any Lien or otherwise transfer any securities of any
of the Companies or the Operating Company or (ii) issue or sell any subscriptions, options,
warrants, calls, preemptive rights or other rights of any kind to purchase or otherwise acquire any
securities of any of the Companies or the Operating Company, or securities convertible into or
exchangeable for, or which otherwise confer on the holder thereof any right to acquire, any
securities of any of the Companies or the Operating Company;

          (b) with respect to the Companies and the Operating Company only, loan money to, or make any
debt or equity investment in, any other Person;

          (c) cause or permit any of the Companies or the Operating Company to alter or amend any of the
rights, preferences or privileges of, or to redeem, purchase or otherwise acquire, any equity
securities of any of the Companies or the Operating Company;

          (d) amend, supplement or restate any certificate of incorporation, certificate of formation,
bylaws, operating agreement, limited liability company agreement, limited partnership agreement or
any other constitutive document of any of the Companies or the Operating Company;

          (e) cause or permit any of the Companies or the Operating Company to purchase, lease or
otherwise acquire the right to own, use or lease any property or assets for an amount in excess of
one hundred thousand dollars ($100,000) individually or five hundred thousand dollars ($500,000) in
the aggregate, except for purchases of Bulk Assets in the Ordinary Course of Business;

          (f) sell, lease, license, transfer, pledge, mortgage, encumber, grant, abandon, allocate to
any other business unit, or otherwise dispose of any Real Property or Bulk Asset with a value in
excess of fifty thousand dollars ($50,000), except dispositions, in the Ordinary Course of
Business, of Bulk Inventory and Bulk Equipment that is obsolete or in unusable condition and not
necessary for the operation of the Bulk Gas Business;

          (g) cause or permit any of the Companies or the Operating Company to engage in any hiring,
employment termination or lay-off practices other than in the Ordinary Course of Business and in
compliance with applicable Labor Laws;

          (h) cause or permit any of the Companies or the Operating Company to grant any severance or
termination pay to any Business Employee other than as required by a

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preexisting Employee Benefit
or Compensation Plan or, except with respect to the Vice President of Bulk Sales for the Operating
Company, to the extent the costs therefor are paid by the Companies or the Operating Company prior
to the Closing or otherwise payable solely by the Sellers;

          (i) cause or permit any of the Companies or the Operating Company to enter into, establish,
adopt or amend any (x) Collective Bargaining Agreement without reasonable advance notice by Sellers
to Purchaser and good faith consultation concerning the terms, the status of negotiations and
Sellers’ proposals with respect to any such Collective Bargaining Agreement, with the final
decision as to the terms to be made by the Vice President of Bulk Sales for the Operating Company
or (y) other agreement, Contract or enforceable understanding of any kind covering, involving or
entered into with employees, contractors, consultants or others who are or have been performing
work or services for any of the Companies or the Operating Company (collectively, “New Employment
Contracts”) without reasonable advance notice by Sellers to Purchaser and the prior written consent
of Purchaser to the terms of any such New Employment Contracts, which consent shall not be withheld
unreasonably;

          (j) except as otherwise provided in Section 9, increase the rate of compensation of, or pay or
agree to pay or increase any benefit or incentive to, any of the Business Employees, except (i) in
the Ordinary Course of Business, (ii) as required by Law or an existing Bulk Contract, Collective
Bargaining Agreement or Employee Benefit and Compensation Plan and (iii) the Company may, following
reasonable advance notice to the Purchaser and, subject to applicable Law, an opportunity to
consult with respect thereto, enter into stay bonuses or other retention bonus arrangements with no
more than twenty (20) Business Employees in an amount per individual Business Employee not to
exceed ten thousand dollars ($10,000) so long as all amounts thereunder are payable by the
Companies or the Operating Company prior to the Closing (the “Special One-Time Retention
Arrangements”));

          (k) alter the procedures or policies of the Bulk Gas Business regarding the collection of
Accounts Receivable or the payment of Trade Payables;

          (l) take any action, other than in the Ordinary Course of Business, to modify or change the
accounting policies or procedures reflected in the Carve-Out Principles;

          (m) terminate or materially amend or modify, or assign any material rights relating to, any
Real Property Lease or any Material Contract, or enter into any new Material Contract, other than
in the Ordinary Course of Business;

          (n) other than as set forth in Schedule 6.8(n) and other than with respect to the Jefferson
Capital Improvement and the replacement of the air compressor at the Dayton, Ohio plant, make any
capital expenditure or commitment pertaining to the Bulk Gas Business in excess of (x) one hundred
thousand dollars ($100,000) individually or (y) one million dollars ($1,000,000) in the aggregate;

          (o) abandon or fail to renew any Real Property Leases that should be renewed in the Ordinary
Course of Business;

          (p) fail to maintain any Bulk Intellectual Property;

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          (q) make any changes to the information technology infrastructure of the Bulk Gas Business
that would materially adversely impact the Purchaser or the transition of the Bulk Gas Business
(including the Purchaser’s ability to extract, download or convert data); or

          (r) agree, directly or indirectly, whether in writing or otherwise, to do any of the
foregoing.

     6.9. Exclusivity.

          (a) As an inducement to the Purchaser to enter into this Agreement, and in consideration of
the time and expense which it has devoted and will devote to the transactions contemplated hereby
during such period, except as between the Sellers and the Purchaser pursuant to this Agreement,
until the earlier of (i) the Closing Date and (ii) termination of this Agreement in accordance with
Section 14.1 hereof, each of the Sellers and the Guarantor shall not, and, to the extent permitted
by the FTC Orders, shall cause the Companies and the Operating Company and their respective
Affiliates, officers, directors, employees, agents and representatives (including any investment
banker, attorney or accountant retained or acting on behalf of such party or any shareholder,
director, officer or employee of such party) not to, directly or indirectly (x) initiate, solicit,
encourage or entertain proposals, inquiries, indications of interest, or offers to purchase any
portion of the Purchased Equity Interests or all or substantially all of the Bulk Assets or the
Bulk Gas Business (an “Acquisition Proposal”), or (y) enter into any discussions,
negotiations, agreements, arrangements or commitments with respect an Acquisition Proposal with any
Person who has made an Acquisition Proposal; provided, however, that the foregoing
shall not restrict the Sellers, the Companies, the Operating Company or the Guarantor from
dispositions in the Ordinary Course of Business of Bulk Inventory and of Bulk Equipment that is
obsolete or in unusable condition and not necessary for the operation of the Bulk Gas Business
substantially as currently conducted.

          (b) Except as otherwise agreed between the Purchaser and the Sellers, until the earlier of (i)
the Closing Date and (ii) termination of this Agreement in accordance with Section 14.1 hereof, the
Purchaser shall not, and the Purchaser shall cause its Affiliates, officers, directors, employees,
agents and representatives (including any investment banker, attorney or accountant retained or
acting on behalf of the Purchaser or any shareholder, director, officer or employee of the
Purchaser) not to directly or indirectly initiate, solicit, encourage or entertain any opportunity
to acquire any assets or any business which compete with the Bulk Gas Business or the purchase of
which by the Purchaser could reasonably be expected to materially impair the Purchaser’s ability to
(A) consummate the transactions contemplated hereby under applicable antitrust Law and the FTC
Orders, or (B) obtain the Financing.

          (c) This Section 6.9 supersedes the exclusivity covenant to which each party is subject
contained in Section A.3 of the Framework Agreement and each party shall have no further obligation
to the other party in connection with such exclusivity covenant; provided,
however, if this Agreement is terminated by the Purchaser (x) as a result of a
material breach of this Agreement by either party or (y) under Section 14.1(d) or Section 14.1(e),
then any claims either party may have for any breach of such exclusivity covenant shall not be
waived and shall be retained.

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     6.10. Agreements. From the date hereof through the Closing Date, the Sellers shall notify the Purchaser of the
receipt by any of the Sellers, any of the Companies, the Operating Company or any of their
respective Affiliates, of any written notice that a party to any Material Contract has terminated
or declined to renew or intends to terminate or decline to renew any such Contract or that any
party has asserted or intends to assert any material claim under any such Contract.

     6.11. Intellectual Property Licenses

          (a) Effective on the Closing Date, the Guarantor grants to the Companies and the Operating
Company (the “Licensees”), subject to the terms and conditions herein, a perpetual, fully
paid-up, royalty-free, non-exclusive right and license under all (subject to subsection (iii) in
the next sentence) Intellectual Property that is both (A) owned by Guarantor or its Subsidiaries as
of the Closing Date and (B) used by the Licensees in connection with the Bulk Gas Business as of
the Closing Date, for use by the Licensees in connection with the operation of (x) the Bulk Gas
Business in effect as of the Closing Date (and as such business may be expanded by the Licensees
after the Closing Date) and (y) any other businesses of the Licensees as may be conducted from time
to time (the “Licensed Business”). The territory for the foregoing license shall be (x)
solely within the United States (excluding Puerto Rico) with respect to such Intellectual Property
relating to the use of products at customer sites and other customer application technology, and
(y) throughout the world, with respect to such Intellectual Property otherwise relating to the
operation of the Bulk Gas Business. For the avoidance of doubt, the foregoing license shall not
include (i) any Intellectual Property created, invented or acquired by the Guarantor or its
Subsidiaries after the Closing, including any post-Closing improvements to pre-Closing Intellectual
Property or Intellectual Property created by Third Parties prior to Closing that is acquired by the
Guarantor or its Subsidiaries post-Closing; (ii) any activities or business of the Licensees other
than the Licensed Business; or (iii) any (x) issued patents (which are governed solely by Section
6.11(b)), (y) Trademarks (which are governed solely by Sections 6.11(d) and (e)), or (z) Software
(which is governed solely by Section 6.11(h)).

          (b) Effective on the Closing Date, the Guarantor grants to the Licensees, subject to the terms
and conditions herein, a fully paid-up, royalty-free, non-exclusive right and license under all
U.S. issued patents (including those patents set forth on Schedule 6.11(b)) that are both (x) owned
by the Guarantor or its Subsidiaries as of the Closing Date and (y) used by the Companies and the
Operating Company in the United States (excluding Puerto Rico) in connection with the Bulk Gas
Business as of the Closing Date, for use by the Licensees solely in the United States (excluding
Puerto Rico) in connection with the Licensed Business, for the life of such patents. For the
avoidance of doubt, the foregoing license shall not include (i) any foreign issued patents, (ii)
any U.S. or foreign issued patents (including divisionals, continuations, continuations-in-part,
reissues or re-examinations) obtained or acquired by the
Guarantor or its Subsidiaries after the Closing Date, including any post-Closing improvements
to pre-Closing patents, or patents acquired by Third Parties prior to Closing that are acquired by
the Guarantor or its Subsidiaries post-Closing (provided that, if the Guarantor or its Subsidiaries
obtain a U.S. Patent after Closing with respect to any inventions, processes or technology that are
reduced to practice prior to Closing and are used by any of them in connection with the operation
of the Bulk Gas Business in effect as of the Closing Date, such U.S. Patent shall be included

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within the scope of the license in this Section 6.11(b), solely with respect to any claims (or
portions thereof) embodying such pre-Closing inventions, processes or technology, but such license
shall exclude any claims (or portions thereof) embodying any post-Closing inventions, processes or
technology); or (iii) any activities or business of the Licensees other than the operation of the
Licensed Business in the United States (excluding Puerto Rico). If the Licensees wish to license
(x) any other patents of the Guarantor or its Subsidiaries or (y) the above patents for any
purposes not covered by the above license, the Purchaser may request in writing that the Guarantor
grant (or cause its Subsidiaries to grant) such license to the Licensees, and the Guarantor may
grant or deny such request in its sole discretion.

          (c) The Licensees may sublicense their licenses in Section 6.11(a), (b) and (h) solely to (i)
Purchaser and its controlled Affiliates, (ii) their authorized customers, (iii) any other third
parties in the United States (excluding Puerto Rico) in connection with the current and future
operation of the Bulk Gas Business, but not for the independent use of any third party, and (iv) a
purchaser of all or substantially all of the Bulk Gas Business or one or more of the Bulk ASUs
(provided that the scope of such sublicenses shall be consistent with the scope of the
licenses described in Sections 6.11(a), (b) and (h) as applicable, and such sublicense shall not
extend to any unrelated businesses or activities of the acquiring person). In each case, the
Licensees will be responsible for the compliance of all sublicensees with the terms and conditions
of this license, and all such sublicenses must include the same restriction on future sublicensing.
Except as specifically set forth herein, the Licensees shall not directly or indirectly
sublicense, provide access to or make available any of such licensed Intellectual Property
(including patents) to Third Parties, including by way of secondments, service bureaus or any other
such arrangement. The Licensees may assign such licenses solely in connection with a change of
control, merger, reorganization, sale of all or substantially all of the Bulk Gas Business or
similar extraordinary transaction; provided that the scope of such assignment shall be
consistent with the scope of the licenses described in Sections 6.11(a), (b) and (h) as applicable,
and such assignment shall not extend to any unrelated businesses or activities of the acquiring
person). All other assignments or sublicenses shall require the prior written consent of the
Sellers in their sole discretion. Any purported assignment or sublicense in violation of this
Section 6.11(c) shall be null and void ab initio and of no force or effect.

          (d) The Purchaser agrees that the Licensees shall have no right after the Closing Date to use
any Trademarks that are owned or licensed by the Sellers or Guarantor (such Trademarks, the
“Seller Marks”) after the Closing Date, except as expressly provided herein. The Sellers
and the Purchaser acknowledge that certain gas containers that are included in the Purchased Assets
are stamped permanently with certain Seller Marks (such containers, the “Imprinted
Containers”). Effective on the Closing Date, the Guarantor shall grant to the Licensees a
non-exclusive, royalty-free, non-sub licensable, non-transferable right and license to use the
Seller Marks for eighteen (18) months, solely on Imprinted Containers bearing such
Seller Marks as of the Closing Date, and solely in connection with their operation of the Bulk
Gas Business in the ordinary course of business and in a manner consistent with past practice.

          (e) Effective upon the Closing Date, the Guarantor grants to the Licensees a non-exclusive,
royalty-free, non-sublicensable, non-transferable right and license to use for one hundred eighty
(180) days all Seller Marks that are used by the Licensees in connection with the Bulk Assets as of
the Closing Date but are not permanently stamped into Imprinted Containers,

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including those Seller
Marks listed on Schedule 6.11(e), in each case, solely in connection with their operation of the
Bulk Gas Business in the ordinary course of business and in a manner consistent with past practice;
provided that the Purchaser shall take all necessary and appropriate actions (including use
of a sticker, decal or name plate displaying the Purchaser’s Trademarks) to comply with all
applicable Laws and to ensure that customers and other Third Parties are not confused that the
Purchased Assets are being operated during such time by the Purchaser, and not by the Sellers.

          (f) The Purchaser agrees that the Licensees shall use the Seller Marks only in connection with
services maintaining substantially the same quality levels in effect as of the Closing Date and
shall comply with all reasonable instructions by the Sellers or Guarantor in this regard. The
Guarantor may terminate the licenses in Section 6.11(d) and (e) if the Purchaser materially
breaches its obligations in this Section 6.11(f) and fails to cure such breach within thirty (30)
days after notice thereof.

          (g) The Licensees shall not have any right to use the Seller Marks other than as specifically
set forth in Section 6.11(d) and (e) above and, among other things, the Purchaser shall not (and
shall not allow the Licensees to) (i) claim any right, title or interest in or to any Seller Mark
by registration or otherwise; (ii) use any Seller Mark in any marketing activity; (iii) apply any
Seller Mark to any product, package or container other than as provided herein; or (iv) except to
the extent expressly permitted in Section 6.11(d) or 6.11(e), use any Seller Mark as a Trademark in
whole or in part. Promptly after the Closing, and in no event more than sixty (60) days
thereafter, Purchaser shall use its reasonable best efforts to change all applicable corporate,
trade, d/b/a and similar names and registrations of the Licensees to names and registrations that
do not contain any Seller Marks. The Purchaser (on behalf of itself and the Licensees) hereby
assigns to the Sellers any rights it or they might acquire in or to each Seller Mark after the
Closing Date, through use or otherwise, including any goodwill symbolized thereby or associated
therewith. Nothing in this Section 6.11(g) shall restrict the ability of the Purchaser to transfer
to a Third Party or otherwise dispose of any Imprinted Containers; provided,
however, that any subsequent acquirer of any Imprinted Container shall have only such
rights with respect to the Seller Marks as granted to the Purchaser pursuant to this Section 6.11
and shall be subject to all limitations imposed hereunder on the Purchaser with respect to the use
or transfer of the Seller Marks.

          (h) On the Closing Date, the Guarantor and the Purchaser shall execute the LCS License
Agreement in accordance with Sections 3.2(i) and 3.3(g). Effective on the Closing Date, the
Guarantor grants to the Licensees, subject to the terms and conditions herein, a worldwide,
perpetual, non-exclusive, royalty-free right to (i) the Guarantor’s proprietary rights, if any, in
the Eagles and Panthers model for the bulk sales process, margin and ROCE estimator/control
Software; (ii) the plant loading models Visual Basic programs and (iii)
Guarantor’s proprietary rights, if any, in any customized modules created using third-party
spreadsheet software programs (collectively, the “EPSoftware”) for use by their employees
in connection with the Licensed Business. The Guarantor has no obligation to support, maintain,
update or provide improvements to any EPSoftware. For the avoidance of doubt, the Guarantor does
not own rights to the source code to the third-party programs included in the EPSoftware (and has
created no source code with respect thereto), and the above license does not give the Purchaser the
right to access, use or modify such source code. Except as set forth in Section 4.15

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or Section
6.8(q) of this Agreement, Guarantor disclaims all express and implied warranties and all covenants
with respect to the EPSoftware, including any implied warranties of title, non-infringement,
merchantability, value, reliability, accuracy or fitness for a particular purpose, or freedom from
errors, bugs, defects, viruses or other corruptants. The Purchaser shall be responsible for all
risks of loss and/or damage to the EPSoftware at all times after Closing. Either party may
terminate this license if the other party commits a material breach and does not cure same within
thirty (30) days after written notice from the non-breaching party. After termination, the
Purchaser shall, at Guarantor’s option, promptly return to Guarantor or destroy all of its copies
of the EPSoftware and shall certify same to Guarantor in writing.

          (i) The Guarantor shall, and shall cause any of its Affiliates (including the Sellers) to
reasonably cooperate with the Licensees or the Purchaser, or any of their respective Affiliates in
order to (i) (except as set forth on Schedule 4.18(a)(vii)) transfer the Bulk IP Licenses pursuant
to this Agreement (at the cost and expense of the Sellers, if any) and (ii) enable such parties to
obtain their own licenses (or equivalents thereof) at their own expense for the IP Licenses set
forth on Schedule 4.15(b) that are not included in the Bulk IP Licenses.

          (j) The Purchaser acknowledges that (i) as between the Purchaser and the Licensees on the one
hand, and the Guarantor and its Affiliates on the other hand, the Guarantor and its Affiliates own
the Intellectual Property licensed to the Licensees in this Section 6.11, and the Purchaser will
not (and will not allow the Licensees to) contest such ownership, (ii) the representations and
warranties in Section 4.15 are the only representations and warranties with respect to such
Intellectual Property and there are no representations and warranties, either express or implied,
with respect to the licenses in this Section 6.11 and all Intellectual Property licensed to the
Licensees therein is otherwise licensed on an “as is” basis, and (iii) the Guarantor and its
Affiliates have no obligation to maintain or enforce any of such Intellectual Property. Further,
for the avoidance of doubt, the Purchaser acknowledges that, except as set forth in the Transition
Services Agreement and LCS License Agreement, Guarantor and its Affiliates have no obligation to
provide to Purchaser or the Licensees any (x) assistance, training, advice, maintenance or services
of any kind with respect to the Intellectual Property licensed in this Section 6.11 or (y) physical
or tangible materials in any form or media containing or embodying any of the Intellectual Property
licensed in this Section 6.11 (except for Bulk Assets (including the Imprinted Containers)
physically bearing the Seller Marks referenced in Section 6.11, subject to the terms and conditions
of Section 6.11).

          (k) If an IP License has been inadvertently omitted from Schedule 4.15(b) and the Sellers
discover such omission at any time, whether before or after Closing, Sellers will promptly notify
Purchaser, in which event, the parties shall cooperate in good faith to treat such IP License in
the same manner as other similar IP Licenses under this Agreement and will amend all applicable
schedules accordingly in a mutually-agreed manner.

     6.12. Financing. The Purchaser shall comply with the terms of the Credit Agreement and shall use its reasonable
best efforts to cause the Financing contemplated by the Credit Agreement to be available at or
prior to Closing. In the event any portion of the Financing becomes unavailable on the terms and
conditions contemplated in the Credit Agreement, the Purchaser shall use its reasonable best
efforts to arrange to obtain alternative financing, including from alternative sources, as promptly
as practicable following the occurrence of such event.

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     6.13. Access and Cooperation. From and after the Closing Date, the parties shall take the following measures in order to
facilitate the timely and cost-effective performance of the Sellers’ obligations pursuant to
Section 13.2 with respect to any Sellers’ Remediation, in each case concerning any particular Real
Property that is either Owned Real Property or Leased Real Property (“Subject Property”):

          (a) The Sellers, and those Persons acting at the direction of the Sellers, may enter upon and
use the Subject Property, at reasonable times and with reasonable prior notice, including use of
roads and driveways, for the purpose of performing Sellers’ Remediation;

          (b) The Sellers shall perform all Sellers’ Remediation at the Subject Property in material
compliance with all applicable Laws, including Environmental Laws, and in such a manner as to
minimize, to the extent reasonably practicable, damage to the Subject Property (including to the
Improvements, fixtures and appurtenances thereon) and the disruption of or interference with the
Purchaser’s use of the Subject Property (including the Improvements, fixtures and appurtenances
thereon);

          (c) The Sellers shall be responsible for the reasonable cost of any repairs, replacements or
damages to the Purchaser’s Improvements, fixtures and appurtenances within the Subject Property and
for any other Losses to the extent caused by the act or wrongful omission of the Sellers in
connection with any Sellers’ Remediation. The Purchaser shall be responsible for the reasonable
cost of any repairs, replacements or damages to the Sellers’ Improvements, fixtures and
appurtenances within the Subject Property and for any other Losses to the extent caused by the act
or wrongful omission of the Purchaser; and

          (d) The Sellers may connect to any utility lines that serve the Subject Property, in order to
provide water, electric, telephone, sanitary sewer, storm sewer and other utility services to the
Sellers in connection with the Sellers’ Remediation; provided, that the Sellers shall, with
the Purchaser’s reasonable cooperation, obtain all necessary utility approvals and permits prior to
making any connections; and that further, the Sellers shall reimburse the Purchaser for all
reasonable costs that the Purchaser incurs as a result of the Sellers’ use of such utilities.

     6.14. Tax Matters. During the period from the date hereof to the Closing Date, the Companies and the Operating
Company shall (and Sellers shall cause the Companies and the Operating Company to):

          (a) prepare, in the Ordinary Course of Business and consistent with past practice (except as
otherwise required by Law), and timely file all Tax Returns required to be filed by it (or them) on
or before the Closing Date (“Post-Signing Returns”);

          (b) fully and timely pay all Taxes due and payable in respect of such Post-Signing Returns
that are so filed;

          (c) properly reserve (and reflect such reserve in its books and records and financial
statements), in accordance with past practice and in the Ordinary Course of Business, for all Taxes
payable by it (or them) for which no Post-Signing Return is due prior to the Closing Date;

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          (d) promptly notify Purchaser of any federal, state, local or foreign income or franchise and
any other suit, claim, action, investigation, proceeding or audit pending against or with respect
to the Companies or the Operating Company in respect of any Tax matter (collectively, “Tax
Actions”);

          (e) not make or revoke any material election with regard to Taxes or file any material amended
Tax Returns;

          (f) not make any change in any Tax or accounting methods or systems of internal accounting
controls (including procedures with respect to the payment of Trade Payable and collection of
Accounts Receivable), except as may be appropriate to conform to changes in Tax laws or regulatory
accounting requirements or GAAP;

          (g) terminate all Tax Sharing Agreements to which any of the Companies or the Operating
Company is a party such that there is no further liability thereunder; and

          (h) join the Purchaser to the extent required in making elections under Section 754 of the
Code (and corresponding elections under state and local law) with respect to Company A, Company B
and the Operating Company.

     6.15. Litigation; Insurance.

          (a) From the date hereof until the Closing Date, the Sellers shall promptly notify the
Purchaser of any Actions of the type described in Section 4.12 that in each case from and after the
date hereof are commenced or, to the knowledge of the Sellers, threatened, against the Companies,
the Operating Company and, with respect to the Companies, the Operating Company and the Bulk Gas
Business, the Sellers. From the date hereof to the Closing Date, each party shall promptly notify
the other party of any Actions commenced or, to the knowledge of such party, threatened that, if
adversely determined, would reasonably be expected to materially impair the ability of such party
to consummate the transactions contemplated hereby. In the event an Action is commenced against
one of the parties or any of such party’s Affiliates and such Action relates to this Agreement or
the transactions contemplated thereby or any matter subject to indemnification hereunder, each
party agrees to provide such reasonable cooperation to the other in connection with such Action to
the extent reasonably requested.

          (b) The parties acknowledge that the Company Insurance Policies (as defined below) are in the
name of the Operating Company and will be retained by the Operating Company upon consummation of
the transactions contemplated hereby, but, subject to the other provisions of this Section 6.15,
are intended to be maintained and available for the benefit of the Sellers and their Affiliates,
including for their obligations under this Agreement, at the sole risk and expense of the Sellers
and their Affiliates, and the Sellers shall fully reimburse the Purchaser the Operating Company and
their Affiliates for, and hold them harmless from, all losses, costs and expenses arising from or
relating to the provisions of Section 6.15(b) through (g) (other than normal internal costs, any
material breach by the Purchaser of this Section 6.15 and any bad faith or material willful
misconduct of the Purchaser). Accordingly, the parties have agreed to the provisions of this
Section 6.15(b) through (g). From and after the Closing Date, the Purchaser shall, and shall cause
the Companies and the Operating Company to, use commercially

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reasonable efforts to, and the Sellers
shall provide such information and cooperation as is necessary for the Purchaser to, (i) keep, or
cause to be kept, in full force and effect (whether by prompt payment of all premiums due, by
delivery of any required notices, or otherwise), all insurance policies and insurance contracts
with third-party insurers that are owned or maintained by the Companies, the Operating Company or
their Affiliates as of the Closing Date that cover periods prior to the Closing Date and that cover
the assets, employees, operations or businesses of the Guarantor, the Sellers, the Companies, the
Operating Company or their Affiliates (collectively, “Company Insurance Policies”), (ii)
not terminate, cancel, amend or modify any such Company Insurance Policies or waive any rights
thereunder without the prior written consent of the Sellers, which consent shall not be
unreasonably withheld or delayed, (iii) not dissolve or restructure the Operating Company in any
manner that would impair, terminate, cancel, modify or otherwise adversely affect any of the
Company Insurance Policies or the Sellers’ and their Affiliates’ ability to make any claims or seek
recovery under any Company Insurance Policies with respect to the Excluded Liabilities, and (iv)
not take any action which would adversely affect the ability of the Sellers and their Affiliates
from making any claims or seeking recovery under any Company Insurance Policies, without the prior
written consent of the Sellers, which consents shall not be unreasonably withheld or delayed.
Prior to the Closing Date, the Purchaser shall use its commercially reasonable efforts to cooperate
with the Sellers, at the Sellers’ reasonable request and expense, to assist the Sellers in
notifying the carriers under the Company Insurance Policies and taking such steps that are
reasonably required by the carriers under the Company Insurance Policies to maintain such policies
in full force and effect and to carry out the intent of this Section 6.15. For the avoidance of
doubt, once the Purchaser has used its commercially reasonable efforts to cooperate with and to
provide such assistance to the Sellers is as required by this Section 6.15(b), the Purchaser’s
obligations in connection therewith shall be considered for all purposes to have been fully
discharged and satisfied.

          (c) From and after the Closing Date, the Sellers and their Affiliates will have the right to
assert, prosecute and recover proceeds in respect of claims under the Company Insurance Policies.
As of the Closing Date, the Purchaser shall cause the Companies and the Operating Company, as
applicable, to appoint one or more Sellers (or Affiliates thereof to be designated by the Sellers)
as agents and attorneys for each of the insureds (the “Designated Agents”) under each of
the Company Insurance Policies. The Purchaser shall cause the Companies and the Operating Company
to authorize, direct and empower the Designated Agents to act for and in the name of the Companies
and the Operating Company, as applicable, as their respective agent and attorney in fact in
connection with the Company Insurance Policies and
under the other related instruments and agreements, with power to assert and prosecute any
claims or Actions to recover proceeds under the Company Insurance Policies. Notwithstanding the
foregoing, the Purchaser shall, and shall cause the Companies and the Operating Company to, use
commercially reasonable efforts to assist the Sellers and their Affiliates in asserting or
prosecuting claims and obtaining proceeds, including using commercially reasonable efforts in
assisting the Sellers and their Affiliates to establish its right to coverage. The Sellers shall
promptly reimburse the Purchaser for all out-of-pocket costs and expenses incurred in complying
with this Section 6.15. None of the Purchaser or its Affiliates (including the Companies and the
Operating Company) assumes any liability for the failure of an insurer to pay any claim under any
Company Insurance Policy. The Purchaser agrees to promptly pay over to the Sellers or any of their
Affiliates, as applicable, any insurance recoveries received by the Purchaser, the Companies, the
Operating Companies or any of their Affiliates in respect of insurance claims

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with respect to the
Company Insurance Policies, without setoff or reduction. The Purchaser shall promptly present any
invoices received with respect to the Company Insurance Policies to the Sellers and the Sellers
agree to pay the amounts set forth therein within ten (10) Business Days of receipt thereof.

          (d) The Purchaser shall not, and shall cause the Companies and the Operating Company not to,
and each of them shall not have the right to, assert, prosecute and recover proceeds in respect of
claims under the Company Insurance Policies, or to make, administer, compromise and settle claims
thereunder, except to the extent required to assist the Sellers and their Affiliates in accordance
with this Section 6.15.

          (e) Notwithstanding any provisions of this Agreement to the contrary, the Sellers shall retain
all original copies of the Company Insurance Policies. The Sellers shall give the Purchaser
Parties copies of the Company Insurance Policies and shall provide the Purchaser Parties reasonable
access, during reasonable business hours upon reasonable notice, to such original copies of the
Company Insurance Policies.

          (f) Neither this Section 6.15 nor any provision hereof shall be read in a manner that violates
or conflicts with any provision of any applicable insurance policy or Contract. To the extent that
this Section 6.15 or any provision hereof violates or conflicts with any provision of any
applicable insurance policy or contract or would cause a cancellation or loss of rights under any
applicable insurance policy or Contract, (i) the parties agree that this Section 6.15 shall be
amended or construed with respect only to such applicable insurance policy or contract and to the
minimum extent necessary to cure or avoid such conflict, inconsistency, violation, cancellation or
loss of rights and (ii) the parties agree to reasonably cooperate in any reasonable and lawful
arrangements designed to provide to the Sellers and their Affiliates, the same or similar benefits
and liabilities under any such insurance policy or Contract, including the subcontracting thereof
to the Sellers and their Affiliates and enforcement for the benefit of the Sellers and their
Affiliates, at the Sellers’ expense and reasonable request, of any and all rights under such
insurance policy or Contract.

          (g) Notwithstanding anything under this Section 6.15, unless the Purchaser is indemnified in
accordance with and subject to Section 6.15(b), neither the Purchaser nor any of its Affiliates
shall be obligated to take any action whatsoever under this Section 6.15, whether in connection
with the Company Insurance Policies or other insurance policy or Contract
implicated by Section 6.15 or otherwise, that would (or would reasonably be expected to)
adversely affect or materially inconvenience the Purchaser’s ownership or operation the Bulk Gas
Business, the Bulk Assets, either of the Companies or the Operating Company or any other business
or operations of the Purchaser or its Affiliates after the Closing Date. To the extent either of
the Sellers or any of their Affiliates desires to take any action in connection with the Company
Insurance Policies or other insurance policy or Contract implicated by Section 6.15, whether in
accordance with Section 6.15(c) or otherwise, that would (or would reasonably be expected to)
adversely affect or materially inconvenience the Purchaser’s ownership or operation the Bulk Gas
Business, the Bulk Assets, either of the Companies or the Operating Company or any other business
or operations of the Purchaser or its Affiliates after the Closing Date, unless the Purchaser is
indemnified in accordance with and subject to Section 6.15(b), the right of either

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of the Sellers
or any of their Affiliates to take such action shall be subject to the consent of the Purchaser,
which consent shall not be unreasonably withheld or delayed.

     6.16. Acquisition Agreements. In the event that, from time to time, the Purchaser has suffered losses in connection with any
matter with respect to which the Purchaser is not entitled to indemnification by the Sellers
hereunder, at the written request of the Purchaser, the Sellers shall cooperate with the Purchaser
to enforce for the benefit of the Purchaser, at the Purchaser’s expense and sole liability, any
indemnification rights the Sellers may have under any Contract pursuant to which the Sellers or any
of their Affiliates (including any of the Companies or the Operating Company) acquired, directly or
indirectly, any of the Bulk Assets, to the extent indemnification with respect to such matter is
available under such Contract or, at the Sellers’ option, assign, or cause the assignment of, such
rights to the Purchaser to the extent of the applicable claim.

     6.17. Closing Conditions. Subject to Section 6.6(b) and to the extent permitted by the FTC Orders, each of the Sellers
and the Purchaser agree to use its reasonable best efforts to cause all of the conditions to each
of their obligations to consummate the transactions contemplated hereby to be satisfied, which
shall include, in the case of the Sellers, consummation of the transactions contemplated by the
Restructuring Terms, as soon as practicable after the date of this Agreement. To the extent that,
as of the Closing Date, any obligation of either party remains unsatisfied but the Closing
nonetheless occurs, then each party agrees to use their reasonable best efforts to complete such
obligation as promptly as practicable after the Closing Date.

     6.18. Auditor’s Consents; Audit Expenses

          (a) The Sellers shall cause to be prepared and delivered to the Purchaser as soon as
reasonably practicable after January 1, 2007 (i) audited “carve-out” balance sheets of the Bulk Gas
Business, as of December 31, 2006 and (ii) the related audited “carve-out” statements of
operations, cash flows and changes in stockholder’s investment for the Bulk Gas Business, for the
twelve (12) month period ended December 31, 2006 (collectively, the “Year-End 2006 Audited
Financial Statements”). The Purchaser may, by written notice to the Sellers, cease the
preparation of the Year-End 2006 Audited Financial Statements, but shall pay all costs and expenses
incurred for which it is obligated to reimburse the Sellers pursuant to Section 6.18(d).

          (b) After the Closing for a period of up to one (1) year, upon the request and at the expense
of the Purchaser, the Sellers shall make a request of their independent auditors of the Bulk Gas
Business to provide any auditor’s consent that is required to be included in any filing with the
Securities and Exchange Commission (the “SEC’) that includes or incorporates by reference
the Financial Statements or, if applicable, the Year-End 2006 Audited Financial Statements within
the time period reasonably requested by the Purchaser or any of its Affiliates (each, an
“Auditor’s Consent”). In addition, in connection with any SEC filing required to be made
by the Purchaser or any of its Affiliates (or any SEC review of such filing) containing the
Financial Statements or, if applicable, the Year-End 2006 Audited Financial Statements, the Sellers
shall use commercially reasonable efforts to cause its independent auditors to provide such
reasonable assistance as may be required by the Purchaser in connection with meeting the
requirements of Rule 3-05 and Article 11 of Regulation S-X and Form 8-K of the SEC and shall permit
the Purchaser and its authorized representatives to have reasonable access, during normal

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business
hours and upon reasonable advance notice, to the properties, books and records of the Sellers, and
to the extent permitted by the FTC Orders, the Companies, the Operating Company and their
Affiliates relating to the Bulk Gas Business and the Bulk Assets solely for, and only as shall be
necessary for, the purpose of preparing any such SEC filing or responding to SEC questions,
comments or requests relating to such SEC filing; provided, however, that prior to
providing any such access or information, the Purchaser shall enter into a confidentiality
agreement relating thereto with the Guarantor on terms reasonably satisfactory to the Guarantor.
For the avoidance of doubt, the Sellers shall not have any obligation to commence any Action or pay
any consideration, fees or expenses or to provide any financial inducements in connection with
their performance of their obligations under this Section 6.18. This Section 6.18(c) shall
terminate and be of no further force or effect on the third (3rd) anniversary of the
Closing.

          (c) The Sellers shall keep the Purchaser reasonably informed as to the progress of preparing
the Year-End 2006 Audited Financial Statements referred to in this Section 6.18 and shall consult
with and cause its accountants to consult with the Purchaser and the Purchaser’s accountants from
time to time as reasonably requested by the Purchaser on the content and timing of the delivery of
such financial statements. The Purchaser shall reimburse the Seller for the fees and expenses of
the independent auditor incurred in connection with the preparation and audit of the Year-End 2006
Audited Financial Statements and all other fees and expenses of third parties otherwise incurred in
complying with this Section 6.18 within ten (10) Business Days of receipt of an invoice from the
Seller therefor. The Seller shall provide a copy of the engagement letter between them or their
Affiliate and the independent auditors of the Bulk Gas Business relating to such preparation and
audit.

     6.19. Customer Contracts. Upon satisfaction or waiver of all of the conditions to Closing set forth in Section 8 hereof
(other than those which by their nature are to be satisfied at the Closing) and no later than five
(5) Business Days prior to the Closing Date the Sellers shall provide to the Purchaser an updated
version of Schedule 4.18(c) with the actual names of each customer set forth on such Schedule.

     6.20. Canton, Ohio Cleanup. Prior to the Closing Date, the Sellers shall reasonably remediate in material compliance
with applicable Environmental Laws the existing oil staining from the two transformers located to
the south of the production building in the southwest corner of the facility located at 2505
Shepler Church Avenue SW, Canton, Ohio as described in the Phase I Environmental Assessment for
2505 Shepler Church Ave SW, Canton, OH prepared by URS and dated June 21, 2006.

     6.21. [Intentionally Omitted].

     6.22. Restructuring.

          (a) Prior to the Closing, the Sellers shall use reasonable best efforts to cause the
transactions described in the Restructuring Terms (the “Restructuring”) not yet completed
as of the date of this Agreement to be consummated. In furtherance of the foregoing, promptly
after the date hereof, the parties will initiate discussion on, and cooperate to develop, a process
for implementing the Restructuring as it relates to the Bulk Gas Business in a manner that is
reasonably acceptable to both parties; provided that the Sellers shall not be required to
disclose

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any non-Bulk Gas related information to the Purchaser except to the extent that such
information is reasonably required by the Purchaser with respect to the Bulk Assets (including
mixed assets) or its rights hereunder to determine that the Restructuring is being completed in a
reasonably satisfactory manner, subject to appropriate safeguards to protect confidential or
competitively sensitive information.

          (b) Notwithstanding Section 6.22(a), from and after the Closing Date, upon the reasonable
request of the Purchaser, the Sellers shall execute, acknowledge and deliver any instruments of
assignment, transfer and conveyance and other instruments as the Purchaser shall reasonably request
and as shall be necessary to assign, transfer and convey to and vest in the Operating Company all
rights, title and interests of the Sellers or any of its Affiliates in the Bulk Assets that were
not otherwise so transferred or conveyed to, or held by, the Operating Company prior to the Closing
Date. After the Closing, each party hereto shall take all actions reasonably necessary to convey,
transfer, sell and assign to the Operating Company, and to vest in the Operating Company good and
valid title to, any Bulk Assets that the Operating Company does not own, lease, license or
otherwise have the right to possess and use as of the Closing, and to convey, transfer, sell and
assign to the Sellers or their Affiliates, and to vest in the Sellers and their Affiliates good and
valid title to, assets that are Excluded Assets that were owned by either of the Companies or the
Operating Company as of the Closing, and to execute and deliver such instruments of conveyance and
transfer and take such other actions in order to effectively consummate the transactions
contemplated by the Restructuring.

          (c) With respect to the transactions contemplated by the Restructuring, to the extent that any
rights, obligations, liabilities, assets or Contracts (including any leases or subleases) are not
assignable without the Consent of another Person, neither this Agreement nor any instrument shall
constitute an assignment or an attempted assignment of such right, obligation, liability, asset or
Contract if such assignment or attempted assignment would constitute a breach thereof. If, after
the Sellers use their reasonable best efforts to obtain any such Consent, such Consent is not
obtained, the applicable party (the “Retaining Party”) shall
retain the right, obligation, liability, asset or Contract; provided that this Section
6.22(c) shall not limit the Sellers’ obligations under Section 13.2.

          (d) To the extent any right, obligation, liability, asset or Contract that is not transferred,
assigned or licensed as of the Closing due to a failure to obtain the necessary Consent, lack of
sufficient time to complete such action or otherwise, the parties agree to cooperate in any
reasonable and lawful arrangements designed to provide to the Sellers or their Affiliates, on the
one hand, or to the Purchaser or the Operating Company, on the other hand, as applicable (such
party, the “Benefiting Party”), the same or similar benefits and liabilities under any such
right, obligation, liability, asset or Contract that is not transferred, assigned or licensed as of
the Closing as would have been obtained by such party if such right, obligation, liability, asset
or Contract had been assigned or licensed, as the case may be, to the Benefiting Party, including
the subcontracting thereof to the Benefiting Party and enforcement for the benefit of the
Benefiting Party, at the Sellers’ expense and reasonable request, of any and all rights of the
Retaining Party against the other party thereto arising out of the breach or cancellation thereof
by such other party or otherwise.

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          (e) The Purchaser shall promptly transfer or deliver, or cause to be promptly transferred or
delivered, to the Sellers any Accounts Receivable, monies and other payments that the Purchaser,
the Companies or the Operating Company or any of their respective Affiliates may receive on or
after the Closing Date that relate to (i) the Excluded Businesses, the Excluded Assets, Contracts
that are not Bulk Contracts and other Contracts not assigned by the Operating Company and
administered in accordance with this Section 6.22, or (ii) the operation of the Bulk Gas Business
(including with respect to any Bulk Assets or Bulk Contracts) prior to the Closing Date (to the
extent such amounts were not included as a current asset in Net Working Capital as calculated for
the Final Closing NWC Amount). The Sellers shall promptly transfer or deliver, or cause to be
promptly transferred or delivered, to the Purchaser any Accounts Receivable, monies and other
payments that the Sellers or any of their Affiliates may receive on or after the Closing Date that
relate to (i) the Bulk Gas Businesses, the Bulk Assets, the Bulk Contracts and other Contracts not
assigned to the Operating Company and administered in accordance with this Section 6.22, or (ii)
the operation of the Bulk Gas Business (including with respect to any Bulk Assets or Bulk
Contracts) after the Closing Date.

          (f) Prior to the Closing, the Sellers and the Guarantor shall transfer to the Sellers and/or
their respective Affiliates (other than the Companies or the Operating Company) the sponsorship,
and related obligations, assets, liabilities or expenses, whether actual or contingent, prior to,
on or after the Closing Date, of any (i) Employee Benefit and Compensation Plan (excluding in
respect of any MultiEmployer Plan related to Collective Bargaining Agreement which is set forth on
Schedule DEF-A) and (ii) any similar plan, program, arrangement or agreement that would be an
Employee Benefit and Compensation Plan but for the fact that such plan, program, arrangement or
agreement has been terminated. The Sellers shall provide the Purchaser reasonable evidence of such
transfer, including, copies of all documents necessary to effectuate such transfer of sponsorship
and related obligation.

SECTION 7

CONDITIONS PRECEDENT TO OBLIGATIONS OF THE PURCHASER

          The obligation of the Purchaser to proceed with the Closing hereunder is subject to the
satisfaction of the following conditions on the Closing Date, any of which may be waived by the
Purchaser by executing a written instrument at or prior to the Closing:

     7.1. Representations and Warranties. The representations and warranties of the Sellers set forth in this Agreement shall be true
and correct (without giving effect to any materiality, Business Material Adverse Effect or similar
qualifiers set forth therein, other than in the first sentence of Section 4.10), as of the date of
this Agreement and as of the Closing Date with the same force and effect as if made as of the
Closing Date (other than such representations and warranties that are made as of another date,
which representations and warranties shall be true and correct as of such date), except where the
failure of such representations and warranties to be true and correct, taken in the aggregate, has
not had and would not reasonably be expected to have, individually or in the aggregate, a Business
Material Adverse Effect.

     7.2. Covenants and Agreements. All the covenants and agreements contained in this Agreement to be complied with and performed
by the Sellers on or before the Closing Date shall have been complied with and performed in all
material respects.

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     7.3. No Business Material Adverse Effect. Since June 30, 2006, there shall not have
occurred a Business Material Adverse Effect.

     7.4. Officer’s Certificate. The Purchaser shall have received certificates of an
appropriate officer of the Sellers to the effect of Sections 7.1, 7.2 and 7.3 hereof.

     7.5. Litigation.

          (a) No Action by or before any Governmental Body of competent jurisdiction shall have been
instituted that has a reasonable likelihood of success and (i) that would have a material adverse
effect on the Purchaser’s or Sellers’ ability to consummate the transactions contemplated by this
Agreement or (ii) that seeks to prohibit or materially limit the ownership or operation by the
Purchaser of the Bulk Gas Business or the Bulk Assets.

          (b) No Action by any Person shall have been instituted that has a reasonable likelihood of
success and would be reasonably likely to have a Business Material Adverse Effect.

          (c) There shall not be any Law in effect that restrains or prohibits the consummation of the
transactions contemplated by this Agreement and the other Transaction Documents.

     7.6. Regulatory Consents.

          (a) There shall have been received all Consents of Governmental Bodies as set forth in
Schedule 7.6, and all material Consents necessary for the consummation of the transactions
contemplated by the Restructuring Terms, and all conditions contained in any such Consents required
to have been satisfied prior to consummation by the Purchaser of the transactions contemplated by
this Agreement and the other Transaction Documents shall have been satisfied.

          (b) The FTC shall have approved the transactions contemplated by this Agreement.

     7.7. Intentionally Omitted.

     7.8. Contract Consents. There shall have been received all Consents that are required in
connection with the consummation of the transactions contemplated by this Agreement for the
Contracts set forth on Schedule 7.8.

     7.9. Restructuring. The Restructuring transactions shall have been consummated, other than
(x) the failure to obtain by Closing consents to the assignment of no more than five percent (5%)
of Contracts that are not Bulk Contracts that are to be assigned out the Operating Company pursuant
to the Restructuring; provided that such Contracts shall be subject to Section 6.22, or (y)
the failure of transfers contemplated thereby to have occurred that, in the aggregate, do not have
a material impact on the Purchaser and its Affiliates or on the ownership or operation of the Bulk
Gas Business, the Companies or the Operating Company.

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     7.10. Environmental Transfer Laws. To the extent required as of or prior to the Closing,
the Sellers shall have materially fulfilled their obligations under, if applicable, the Connecticut
Property Transfer Act, Conn. Gen. Stat. §§ 22a-134, et seq.

SECTION 8

CONDITIONS PRECEDENT TO OBLIGATIONS OF THE SELLERS

          The obligation of the Sellers to proceed with the Closing hereunder is subject to the
satisfaction of the following conditions on the Closing Date (except as set forth below), any of
which may be waived by the Sellers by executing a written instrument at or prior to the Closing:

     8.1. Representations and Warranties. The representations and warranties of the Purchaser
set forth in this Agreement shall be true and correct (without giving effect to any materiality or
similar qualifiers set forth therein), as of the date of this Agreement and as of the Closing Date
with the same force and effect as if made as of the Closing Date (other than such representations
and warranties that are made as of another date, which representations and warranties shall be true
and correct as of such date), except where the failure of such representations and warranties to be
true and correct taken in the aggregate has not had and would not reasonably be expected to have
the effect of materially impairing or delaying the Purchaser’s obligations under this Agreement or
the other Transaction Documents or the consummation of the transactions contemplated by this
Agreement and by the other Transaction Documents.

     8.2. Covenants and Agreements. All the covenants and agreements contained in this
Agreement to be complied with and performed by the Purchaser on or before the Closing Date shall
have been complied with and performed in all material respects.

     8.3. Officer’s Certificate. The Sellers shall have received certificates of an appropriate
officer of the Purchaser to the effect of Sections 8.1 and 8.2 hereof.

     8.4. Regulatory Consents. The FTC shall have approved the transactions contemplated by
this Agreement.

     8.5. Restructuring. The Restructuring transactions shall have been consummated, other than
(x) the failure to obtain by Closing consents to the assignment of no more than five percent (5%)
of Contracts that are not Bulk Contracts that are to be assigned out the Operating Company pursuant
to the Restructuring; provided that such Contracts shall be subject to Section 6.22, and
(y) the failure of transfers contemplated thereby to have occurred that, in the aggregate, do not
have a material impact on the Sellers and their Affiliates; provided, however, that
the requirement that the condition in this Section 8.5 shall be satisfied shall expire upon the day
that is ninety (90) days after the date hereof.

SECTION 9

EMPLOYEES

     9.1. Employees at Closing; Notice. As of the Closing Date, the Companies and the Operating
Company will not have any employment, consulting or similar arrangement with any

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employee other
than the Transferred Employees. The Purchaser shall notify the Sellers in writing (by email or
telecopy to the Linde Gas LLC’s Director of Human Resources) as to each Business Employee whose
employment with any of the Companies or the Operating Company is terminated (whether initiated by a
Company or the Operating Company or by the Business Employee) within one (1) year following the
Closing Date.

     9.2. Treatment of Annual Bonuses. With respect to annual bonuses or sales commissions, as
applicable, that are unpaid as of the Closing Date but that would otherwise be payable to
Transferred Employees under the applicable Employee Benefit and Compensation Plans in respect of
(x) calendar year 2006 (each, a “2006 Bonus”) and (y) in respect of the portion of calendar
year 2007 through the Closing Date (each a “2007 Bonus”), in each case, to Transferred
Employees who would have been eligible to receive any such bonus or commission assuming such
Transferred Employees had remained employed by an Affiliate of the Sellers through December 31,
2006 or 2007, as applicable, or such other applicable duration as required under the terms of the
applicable Employee Benefit and Compensation Plan: (a) on the Closing Date, the Sellers shall
provide the Purchaser with Schedule 9.2, which schedule shall set forth the name of each
Transferred Employee who is entitled to receive a 2006 Bonus payment and/or 2007 Bonus payment and
the target amount thereof; (b) as soon as reasonably practicable following the Closing, the Sellers
shall pay to the applicable Company or the Operating Company an amount equal to all such 2006
Bonuses and the pro rated portion of the 2007 Bonuses, which will be calculated by multiplying the
total amount of the 2007 Bonuses (based on annualized performance through the Closing Date, if
necessary or appropriate to determine such amount) that would be payable under the Sellers’
applicable bonus and commission plans by a fraction, the numerator of which is equal to the number
of days between and including January 1, 2007 and the Closing Date, and the
denominator of which is equal to 365; and (c) promptly following such payments, the Purchaser
shall cause the applicable Company or the Operating Company to pay to each Transferred Employee an
amount equal to such Transferred Employee’s 2006 Bonus and the pro rated portion of the 2007
Bonuses, which will be calculated by multiplying the total amount of such Transferred Employee’s
2007 Bonus (as determined above) under the Sellers’ applicable bonus and commission plans by a
fraction, the numerator of which is equal to the number of days between and including January 1,
2007 and the Closing Date, and the denominator of which is equal to 365. The foregoing provisions
shall not apply in respect of the 2006 Bonus payments to the extent 2006 Bonus payments are made
prior to Closing.

     9.3. Stay Bonus Arrangement. The Sellers have caused, and will continue to cause, the
applicable Company or the Operating Company to enter into agreements (the “Stay Bonus
Letter”), the form of which has been provided to the Purchaser, providing stay bonuses (the
“Stay Bonuses”) to the Key Atmospheric Gases Employees (as defined in the FTC Orders) and
those Business Employees who, in the Sellers’ sole discretion, have been deemed to receive such a
bonus for the continued operation of the Bulk Gas Business prior to the Closing, and the Purchaser
shall cause the applicable Company or the Operating Company to honor such Stay Bonus Letter and pay
such Stay Bonuses; provided, however, that in the event any such employees’
employment terminates, Sellers shall be permitted to provide the same Stay Bonus Letters to their
replacements so long as such replacement employees obtained their positions through internal
promotions or transfers (from the Companies, the Operating Company or any respective Affiliates).
The amount of the Stay Bonus that will be provided to each Selected

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Employee will be no less than
ten percent (10%) of the Selected Employee’s base salary and the aggregate amount of all Stay
Bonuses shall not exceed $834,000. Each Selected Employee will receive payment of his or her
respective stay bonus from the applicable Company or the Operating Company one (1) year after the
Closing Date pursuant to the Stay Bonus Letter. For any Selected Employee whose employment is
terminated prior to the Closing Date without cause, the Seller shall incur the costs of paying the
applicable Stay Bonus (to the extent the Stay Bonus is not forfeited pursuant to the terms of the
applicable Stay Bonus Letter). For any Selected Employee whose employment is terminated within one
(1) year following the Closing Date without cause (a “Purchaser Terminated Employee”), the
Purchaser shall incur the costs of paying the applicable Stay Bonus (to the extent the Stay Bonus
is not forfeited pursuant to the terms of the applicable Stay Bonus Letter). For all other
Selected Employees not described in the previous two sentences, the Purchaser shall cause the
applicable Company or Operating Company to pay the applicable Stay Bonus (to the extent the Stay
Bonus is not forfeited pursuant to the terms of the applicable Stay Bonus Letter), and the Sellers
shall reimburse the Purchaser for 50% of all such Stay Bonuses promptly following payment thereof.

     9.4. Other Employee Matters.

          (a) Pre-Closing Employee Benefits. The Sellers shall cause the Operating Company to
continue employee benefits to all Business Employees from the date hereof until the Closing Date.

          (b) Offers of Employment.

               (i) As soon as reasonably practicable after the date hereof, but not later than forty-five
(45) days prior to the Closing, the Sellers shall deliver to the Purchaser a true and complete list
of all Business Employees and Atmospheric Gases Employees, and shall allow the Purchaser to inspect
the personnel files and other documentation relating to the Business Employees and Atmospheric
Gases Employees.

               (ii) After the date hereof, but not later than forty-five (45) Business Days prior to the
Closing, the Sellers will make the Business Employees and Atmospheric Gases Employees available for
interview by the Purchaser during reasonable business hours following reasonable prior notice (and
outside the presence of the Sellers). The Purchaser may make offers of employment to any one or
more of the Atmospheric Gases Employees. The Atmospheric Gases Employees shall be free to accept
or reject such offers (if any) in their sole discretion. The offers of employment (if any) shall
have no effect on the terms or conditions of this Agreement.

               (iii) From the date of execution hereof until the Closing, the Sellers and their Affiliates
shall not make any offer to any Business Employees or Atmospheric Gases Employees to induce or
otherwise encourage such Business Employees or Atmospheric Gases Employees to become employed by
the Sellers or their Affiliates (other than the Operating Company) after the Closing.

          (c) Employee Information. Subject to applicable Law, the Sellers shall provide, on
the Closing Date, complete personnel files for each Transferred Employee.

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          (d) Shared Services Employees; Transferred Employees. (i) The parties acknowledge
that in addition to the employees set forth on Schedule 4.20(f), the Business Employees are to
include twelve (12) employees who perform the functions set forth on Schedule 9.4(d)(i) for both
the Bulk Gas Business and the Excluded Businesses. Schedule 9.4(d)(i) sets forth for each such
position (x) the function or functions performed and (y) the number of employees in such category
to become Business Employees. Within thirty (30) days following the date hereof, the Seller shall
give the Purchaser an updated Schedule 9.4(d)(i) which sets forth for each such position, (A) the
function or functions performed, (B) the number of employees in such category to become Business
Employees and (C) names of employees of the Operating Company who perform such functions as of the
date hereof (which shall include at least one half of the Operating Company’s employees currently
performing such function or functions) and access to relevant information concerning such employees
and an opportunity to interview such employees and the Purchaser shall select the employees from
subclause (C) to fill the positions set forth in subclause (B), and such employees shall become
Business Employees. To the extent the number of employees listed under subclause (C) above is
equal to the number of positions listed under subclause (B) above, then all such employees shall
become Business Employees.

               (ii) Business Employees who are employed by the Operating Company (or on approved leave)
immediately prior the Closing shall be referred to as “Transferred Employees”. To the
extent permitted by applicable law and the FTC Orders, a list of Business Employees on an approved
leave, the date such approved leave is expected to end (if available)
and the reason for such approved leave will be provided on the updated Schedule 9.4(d)(ii),
such list to be updated by the Sellers at the Closing as of the most recent practicable date (but
no earlier than seven (7) days prior to Closing).

          (e) Employee Benefits.

               (i) The Purchaser or its Subsidiaries shall extend, on the Closing Date, the Purchaser’s
then-existing employee welfare benefit plans (including severance and long- and short-term
disability insurance coverage) and employee pension benefit plans, both as defined in Section 3 of
ERISA, to the Transferred Employees employed by any Company or the Operating Company on reasonably
comparable terms on which similarly situated employees of the Purchaser participate in such plans,
provided, that Transferred Employees who were not eligible to participate in a comparable
plan of the Sellers as of the Closing Date shall be subject to each applicable Purchaser’s plans’
eligibility waiting period (but will nonetheless receive credit for all service periods with the
Companies and the Operating Company as described in the following sentence). For all purposes of
such employee benefit plans (including severance), programs and arrangements, including
eligibility, participation, vesting and benefit accrual (other than for benefit accrual for any
defined benefit pension plan), the Purchaser shall credit Transferred Employees for prior service
with the Sellers and their Affiliates and to the extent the Sellers and their Affiliates recognized
such service, except to the extent such credit would result in duplication of benefits for the same
period of service. For the period commencing on the Closing Date and ending one year following the
Closing Date (the “Covered Period”), the Purchaser shall cause each Transferred Employee to
receive the same annual base salary or hourly wage (it being understood that policies regarding pay
rates for, and availability of, shift premiums, overtime pay, differential pay may vary so long as
Transferred Employees are not

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treated differently than other similarly situated employees of the
Purchaser) and substantially comparable aggregate incentive compensation opportunity (excluding
equity-based compensation) as was applicable immediately prior to the Closing.

               (ii) At Closing, the Sellers will cease to cover Transferred Employees under the Linde
Severance Plan. Effective at Closing, the Purchaser shall adopt an amendment to the Purchaser
Severance Plan (the “Amended Purchaser Severance Plan”), which shall provide that if a
Transferred Employee is terminated by the Purchaser or its Affiliates during the Covered Period,
such Transferred Employee shall receive all of the benefits described under “Option 2” or “Option
3”, as applicable, of the Linde Severance Plan (as it exists on the date of this Agreement) if such
Transferred Employee would have been eligible for such benefits under the Linde Severance Plan (as
it exists on the date of this Agreement), provided, that there will not be any management
discretion to provide severance under Option 2. The Amended Purchaser Severance Plan shall require
any terminated Transferred Employee, as a condition to receipt of benefits thereunder, to execute a
waiver and release of claims in favor of the Purchaser and its Affiliates and the Sellers and their
respective Affiliates. All calculations of benefits under the Amended Purchaser Severance Plan in
respect of Transferred Employees shall be made giving effect to all prior service of the
Transferred Employee with Sellers and their respective Affiliates, as well as any service with the
Purchaser and its Affiliates after Closing. At least 15 days prior to the Closing, the Purchaser
shall provide to Sellers for review and comment a draft of the Amended Purchaser Severance Plan.

               (iii) Effective as of the Closing Date, the Purchaser shall (a) cause its group health plans
to cover all Transferred Employees and dependents of such Transferred Employees who are covered
under an Employee Benefit and Compensation Plan that is a group health plan as of the Closing Date
and to be responsible (in accordance with the Purchaser’s employee welfare benefit plans and
employee pension benefit plans) for expenses incurred by such Transferred Employees and dependents
on or after the Closing Date (b) waive proof of insurability requirements for initial extension of
both basic and optional benefit coverage under its group health plans or other group insurance
welfare benefit plans (c) credit deductible payments and co-insurance payments made in the year of
the Closing by such Transferred Employees and their dependents under the Sellers’ group health
plans for expenses incurred prior to the Closing Date towards deductibles and stop losses in effect
for its group health plans for the year of the Closing (d) waive all pre-existing condition clauses
in its group health plans for such Transferred Employees and their dependents, solely to the extent
such preexisting conditions were waived under the Sellers’ group health plan and (e) waive
eligibility waiting periods for such Transferred Employees and their dependents for any employee
benefit plans maintained by the Purchaser as of the Closing Date. For purposes of the preceding
sentence, “group health plan” shall have the meaning proscribed in Section 5000(b)(1) of the Code.

               (iv) Immediately upon the Closing, the Transferred Employees shall cease to participate (as an
active employee) in any Employee Benefit and Compensation Plans sponsored or adopted by the Sellers
or their Affiliates.

          (f) Vacation. On or as promptly as practicable after the Closing Date but in no event
later than fifteen (15) days after the Closing Date, the Sellers shall pay to the Purchaser, in
respect of all accrued and unused vacation for each Transferred Employee with respect to the

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Sellers’ fiscal year that includes the Closing Date (the “Current Fiscal Year”), an amount
equal to the product of (i) the number of accrued, but unused, vacation days for such Transferred
Employee, multiplied by (ii) for such Transferred Employee, the daily eight (8)-hour rate of base
salary (or hourly rate of pay, as applicable) that the Sellers disclosed to the Purchaser pursuant
to Section 4.20(e) (updated for any increase in base salary or hourly rate of pay) as payable to
such Transferred Employee immediately prior to the Closing, (each such payment being referred to as
a “Vacation Payment”) (provided that the foregoing shall not apply to the extent any
liability for such accrued vacation was included in the calculation of the Final Closing NWC
Amount). The Purchaser shall, on and after the Closing, cause each Company or the Operating
Company to either (x) allow each Transferred Employee who has vacation accrued with respect to the
Current Fiscal Year, but unused as of the Closing Date, to use such vacation during the balance of
the year in which the Closing Date occurs in accordance with the Employee Benefit and Compensation
Plans that are vacation policies or (y) in the event that a Transferred Employee does not use all
of his or her accrued but unused vacation as provided in the foregoing clause (x) by the close of
business on December 31 of the year of the Closing, the Purchaser shall pay each such Transferred
Employee an amount equal to the portion of the Vacation Payment attributable to such remaining
accrued but unused vacation days, in each such case to the extent that the Purchaser has received a
Vacation Payment with respect to such Transferred Employee. The Sellers shall directly pay or
cause to be paid to the Transferred Employees, on or as promptly as practicable after the Closing
Date, but in no event later than fifteen (15) days after the applicable Business Employee becomes a
Transferred Employee, any accrued vacation in respect of (i) any fiscal year prior to the Current
Fiscal Year and, (ii) if required by Law, any
accrued vacation in respect of the Current Fiscal Year (in which case the Sellers would not
make a Vacation Payment to the Purchaser with respect to such employee) and the Purchaser would not
have any obligations pursuant to the preceding sentence.

          (g) COBRA. The Sellers shall be responsible for providing such continuation coverage,
within the meaning of COBRA, as is required pursuant to COBRA in respect of any Business Employee
or “qualified beneficiary” (as defined in COBRA) who incurs a “qualifying event” prior to the
Closing. The Purchaser, the Companies and the Operating Company shall be responsible for providing
such continuation coverage as is required under COBRA in respect of any Transferred Employee or
qualified beneficiary of a Transferred Employee, in either case, who incurs a qualifying event
after the Closing Date.

          (h) U.S. Tax-Qualified Plans. The Sellers agree to permit each Transferred Employee
to effect a “direct rollover” (within the meaning of Section 401(a)(31) of the Code) of his or her
account balances under any Employee Benefit and Compensation Plan of the Sellers and their
Affiliates (other than the Companies and the Operating Company) that is a defined contribution plan
intended to qualify under Section 401(a) of the Code including a qualified cash or deferred
arrangement under Section 401(k) of the Code (the “Seller 401(k) Plan”) if such rollover is
elected in accordance with applicable Law by such Transferred Employee. The Purchaser agrees to
cause its defined contribution plan that includes a qualified cash or deferred arrangement within
the meaning of Section 401(k) of the Code (the “Purchaser 401(k) Plan”) to accept a direct
rollover to the Purchaser 401(k) Plan of such Transferred Employee’s account balances under the
Seller 401(k) Plan if such rollover is elected in accordance with applicable Law by such
Transferred Employee, including the rollover of such Transferred Employee’s loan balances
outstanding under the Seller 401(k) Plan.

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          (i) Cooperation. Upon the Purchaser providing reasonable notice to the Sellers, to
the extent permitted by the FTC Orders, the Sellers shall permit the Purchaser a reasonable
opportunity to meet with the Business Employees during the Sellers’ and applicable Business
Employee’s normal business hours. Such opportunity shall be in accordance with applicable Laws and
for the sole purpose of informing such Employees about the terms and conditions of employment with
the Purchaser, including information about the Purchaser’s benefit plans. All contact with such
Business Employees initiated by the Purchaser will be done at the Business Employee’s principal
employment location or another mutually agreed upon location and the Purchaser’s representative
may, in the sole discretion of the Sellers, be accompanied by at least one Sellers representative
during such contact (any costs associated with such Sellers representative to be borne by the
Sellers). Any meetings held by the Purchaser with Business Employee outside of the Sellers’ and
applicable Business Employee’s normal business hours shall be conducted solely on a voluntary
basis, and the Sellers shall have no liability or obligation with respect thereto.

          (j) WARN. The Sellers shall provide to the Purchaser, no later than five (5) calendar
days prior to the Closing Date, a list of all employees or former employees of the Sellers who have
suffered an “employment loss” (as defined in WARN) during the ninety (90)-calendar-day period on or
preceding the Closing Date at each “single site of employment” (as defined in WARN) and the date of
such employment loss and applicable site of employment for each such person. The Purchaser shall
be responsible for any obligation or liability under
WARN with respect to “employment losses” which take place on and after the Closing Date. The
Sellers shall be responsible for any obligation under WARN with respect to “employment losses”
which take place prior to the Closing Date. The Sellers agree to cause the Companies and the
Operating Company to not terminate, other than for cause, more than fifteen (15) Business Employees
within the ninety (90)-calendar day period on or prior to the Closing Date.

          (k) Collective Bargaining Agreements. From and after the Closing, the Purchaser shall
cause the Companies and the Operating Company to honor and be bound by all Collective Bargaining
Agreements listed on Schedule DEF-A.

          (l) Employment Requirements. (i) To the extent permitted by Law, on or after the
Closing Date, the Purchaser shall be permitted to cause the Business Employees to submit to the
Employment Requirements. As used herein, “Employment Requirements” means the following:
(A) drug testing requirements for new employees in accordance with the Purchaser’s drug and alcohol
policies, including any pre-employment medical drug and alcohol testing and other requirements
established by the U.S. Department of Transportation, (B) completion of the Purchaser’s employment
application, (C) background checks of the type administered by the Purchaser to similarly situated
employees of the Purchaser and in accordance with its existing hiring policies and (D) strength
and/or agility testing of the type administered by the Purchaser to similarly situated employees of
the Purchaser (whose job duties require certain amounts of physical strength and agility) and in
accordance with its existing hiring policies and practices.

               (ii) To the extent any Business Employee fails to satisfy the Employment Requirements as
provided in Section 9.4(l)(i) above, and any of the Companies or the Operating Company terminates
the employment of such Business Employee as a result

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thereof, the applicable Company or Operating
Company shall bear all of the costs and expenses related to such termination, including severance
costs and Employment Claims (and indemnify Sellers for any such costs and expenses;
provided, however, that the Sellers shall reimburse the applicable Company or
Operating Company for fifty percent (50%) of all severance costs payable with respect to such
terminations that occur within the ninety (90)-day period immediately following the Closing and
represent no more than five percent (5%) of the Business Employees. The Sellers’ reimbursement
obligation shall not be reduced or otherwise eliminated in the event that more than five percent
(5%) of Business Employees are terminated as result of a failure to satisfy the Employment
Requirements. Notwithstanding anything to the contrary in this Agreement (and subject to
applicable Law), Seller and its Affiliates may employ, or offer employment to, any such terminated
Business Employee to mitigate its portion of the severance-related costs so long as it also
reimburses Purchaser for its portion of severance related costs and expenses.

SECTION 10

BROKERAGE

          The Sellers, on the one hand, and the Purchaser, on the other hand, shall indemnify and hold
harmless the other against and in respect of any liability, cost or expense resulting from any
agreement, arrangement or understanding made by such party with any third
party for brokerage or finders’ fees or other commissions in connection with this Agreement or
the transactions contemplated hereby.

SECTION 11

EXPENSES

          Except as otherwise provided herein or therein, each party hereto shall bear all expenses
incurred by it in connection with this Agreement and the other Transaction Documents and the
consummation of the transactions contemplated hereby and thereby, including all compensation and
expenses of their respective counsel, actuaries, financial advisors and accountants, whether or not
the Closing shall have occurred (except that such costs and expenses incurred by the Operating
Company and the Companies prior to the Closing shall be borne by the Sellers).

SECTION 12

TRANSFER TAXES AND RECORDING EXPENSES

     12.1. Transfer and Recording Taxes. The Sellers shall pay all sales, use, value added,
transfer, stamp, registration, recording, documentary, excise, real property transfer or gains, or
similar Taxes incurred as a result of the transactions contemplated by the Restructuring and by
this Agreement (“Transfer Taxes”) and the Sellers, on the one hand, and the Purchaser, on
the other hand, agree to jointly file all required change of ownership and similar statements;
provided that the Purchaser shall reimburse the Seller for one half of all Transfer Taxes
to the extent that such Transfer Taxes do not in the aggregate exceed one million dollars
($1,000,000), and all other Transfer Taxes will be borne solely by the Seller. At the Closing, the
Sellers, on the one hand, and the Purchaser, on the other hand, shall deliver to each other such
properly completed resale exemption certificates and other similar certificates or instruments, in
form and

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substance reasonably acceptable to both parties, as are necessary to claim available
exemptions from the payment of sales, transfer, use or other similar Taxes under applicable Law.

     12.2. Real and Personal Property Taxes. In the event of any adjustment to real and personal
property tax amounts applicable to any of the assets of the Companies (including payments under an
Industrial District Agreement or similar agreement) as a result of an audit by any Governmental
Body for any period other than the period in which the Closing occurs, shall be for the account of
and paid to the Sellers and for the period in which the Closing occurs shall be prorated between
the Sellers and the Purchaser based on the amount of time elapsed during such period prior to the
Closing and after the Closing, respectively.

SECTION 13

SURVIVAL OF REPRESENTATIONS; INDEMNIFICATION

     13.1. Survival of Representations and Warranties. The representations, warranties, covenants and agreements contained in this Agreement and
the other Transaction Documents shall survive the Closing for the periods specified in Section
13.3, but shall be subject to all limitations and other provisions relating thereto contained in
this Agreement. Such representations, warranties, covenants and agreements contained herein are
exclusive, and the parties hereto confirm that they have not relied upon any other representations,
warranties, covenants and agreements as an inducement to enter into this Agreement or otherwise.

     13.2. Indemnification of the Purchaser. From and after the Closing, subject to the
provisions of this Section 13 and subject to the terms of any subsequent agreement entered into
between the Guarantor and/or its Affiliates and the Purchaser, the Sellers agree to defend,
indemnify and hold harmless the Purchaser and its respective Affiliates and their respective
officers, directors, agents, employees and representatives and the respective successors and
permitted assigns of each of the foregoing (collectively, the “Purchaser Indemnitees”),
against and in respect of any costs, damages (at law or in equity), fines, penalties, settlement
awards, losses, expenses, claims, obligations or other liabilities (including reasonable legal,
expert witness and other expenses incurred in investigating and defending or enforcing any claims
or Actions) (collectively, “Losses”), incurred or suffered by the Purchaser Indemnitees
arising out of or resulting from:

          (a) a breach of any of the representations or warranties made by the Sellers in Section 4 of
this Agreement or in the certificate delivered pursuant to Section 7.4;

          (b) a breach of any of the covenants or agreements made or to be performed by the Sellers or
Guarantor pursuant to this Agreement;

          (c) any Condition (including any Condition listed on Schedule 13.2(c)) on, in, under or
migrating from the Owned Real Property or Leased Real Property existing prior to or as of the
Closing Date for which there is an affirmative legal obligation of Sellers or Purchaser under any
Environmental Law to perform Remediation or to correct a violation of Environmental Law;

          (d) any violation of Environmental Law in respect of the operation of the Bulk Gas Business
occurring prior to, or as of the Closing Date;

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          (e) any failure to comply with the “bulk sales” laws applicable to the transactions
contemplated by this Agreement or the Transaction Documents; or

          (f) the Excluded Liabilities.

          The obligations of the Sellers hereunder shall bind the successors and assigns of the Sellers.
For all purposes of this Section 13.2, a breach of the Sellers’ representations and warranties,
except with respect to the representations and warranties contained in the first sentence of
Section 4.10, shall be determined without regard to any limitation or qualification as to
“materiality”, “material”, “materially” or “Business Material Adverse Effect” set forth in such
representation or warranty. For the avoidance of doubt, the term “Material” in the definition
names of “Business Material Adverse Effect”, “Material Contracts”, “Material Customers”,
“Material Permits” and “Material Restrictions” shall not be disregarded (i.e., “Material
Contracts” shall not be deemed “Contracts”).

     13.3. Duration of Indemnification of the Purchaser. The Sellers’ obligations to defend,
indemnify and hold harmless the Purchaser Indemnitees under Section 13.2 shall apply only to any
Claim Notice (as hereinafter defined) given pursuant to Section 13.8 within the following periods:

	 	 	 	 	 
	 

	 	Section 13.2(a)
	 	Eighteen (18) months after the Closing Date, except that the
Sellers’ indemnification obligation with respect to a breach of any
representation or warranty contained in Section 4.22 shall survive for
forty-eight (48) months after the Closing Date and the Sellers’ indemnification
obligation with respect to a breach of any representation or warranty contained
in Sections 4.1, 4.2, 4.3, the first sentence of Section 4.11 and 4.23 (the
“Excepted Representations”) shall survive until the expiration of the
applicable statute of limitations.
	 
	 	 	 	 
	 

	 	Section 13.2(b)
	 	Eighteen (18) months after the Closing Date with respect to
covenants and agreements of the Sellers that by their terms are to be performed
in full prior to or on the Closing Date (“Pre-Closing Covenants”). The
applicable statute of limitations with respect to covenants and agreements of
the Sellers that by their terms are to be performed or completed after the
Closing Date.
	 
	 	 	 	 
	 

	 	Section 13.2(c)
	 	Forty-eight (48) months after the Closing Date.
	 
	 	 	 	 
	 

	 	Section 13.2(d)
	 	Forty-eight (48) months after the Closing Date.
	 
	 	 	 	 
	 

	 	Section 13.2(e)-(f)
	 	No time limit; provided that the Sellers’
indemnification obligation with respect to any claims in respect of Taxes shall
only survive until the expiration of the applicable statute of limitations.

     13.4. Limitations on Indemnification of the Purchaser.

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          (a) (i) The Sellers’ obligations to defend, indemnify and hold harmless the Purchaser
Indemnitees under Section 13.2(a) shall apply only after the Purchaser Indemnitees have suffered
Losses under Sections 13.2(a) (except for those in respect of the Excepted Representations) in
excess of an aggregate of five million dollars ($5,000,000), after which the Sellers shall only be
obligated to indemnify for Losses in excess of such amount (the “Basket Amount”);
provided that in calculating whether the Basket Amount has been obtained, only Losses in
excess of seventy five thousand dollars ($75,000) (or ten million dollars ($10,000,000) in respect
of the representations and warranties in Sections 4.8 and 4.9) in respect of any breach
or breaches arising out of the same or a series of related facts, circumstances, events or
conditions, shall be considered. The Sellers will be obligated only to indemnify and hold harmless
the Purchaser Indemnitees under Sections 13.2(a) (except for those based upon, arising out of or
otherwise in respect of the Excepted Representations) (A) for Losses in excess of seventy five
thousand dollars ($75,000) in respect of any breach or breaches arising out of the same or a series
of related facts, circumstances, events or conditions (the “Minimum Claim Amount”), (B) for
losses in excess of ten million dollars ($10,000,000) in respect of any breach or breaches arising
out of the same or a series of related facts, circumstances, events or conditions in respect of the
representations and warranties in Sections 4.8 and 4.9 (the “Minimum Financial Claim
Amount”) and (C) up to an aggregate amount not to exceed twenty percent (20%) of the Purchase
Price (the “Maximum Amount”). Notwithstanding the foregoing provisions of this Section
13.4(a), with respect to Sections 13.2(b) through (f), the Purchaser shall be entitled to receive
indemnification payments without regard to whether the aggregate amount of all other
indemnification payments shall have exceeded, in the aggregate, the Basket Amount or shall have
exceeded, in the aggregate, the Maximum Amount. Any claim which is within the description of
Section 13.2(a) and which is also within the description of any of Sections 13.2(b) through
13.2(f), shall be deemed to be asserted and treated hereunder for all purposes as a claim arising
out of Sections 13.2(b) through 13.2(f), as appropriate, as long as such claim has been initially
asserted as such. In addition, any claim brought pursuant to Section 13.2(a) asserting a breach of
Section 4.22 shall be deemed asserted and treated for all purposes hereunder pursuant to Section
13.4(a)(ii) below.

               (ii) In addition to any other limitation on Sellers’ obligations under Section 13.2,
notwithstanding any provision of this Agreement to the contrary, the Sellers shall have no duty to
defend, indemnify or hold harmless the Purchaser Indemnitees regarding any Losses indemnified
pursuant to Sections 13.2 (a) (as relating to a breach of Section 4.22), (c) or (d)
(provided, that any claim that is within the description of Sections 13.2(a) (as relating
to a breach of Section 4.22), (c) or (d) which is also within the description of Section 13.2(f)
shall be deemed to be asserted and treated hereunder for all purposes as a claim under Section
13.2(f)) (“Environmental Losses”): (A) for which an appropriate Claim Notice has not been
provided by Purchaser by the date forty-eight (48) months following the Closing, (B) which do not,
in the aggregate, exceed one million dollars ($1,000,000) (the “Environmental Basket
Amount”), provided, however, to the extent that Environmental Losses do exceed
the Environmental Basket Amount, five hundred thousand dollars ($500,000) of Environmental Losses
attributable to achieving the Environmental Basket Amount shall be subject to indemnification, (C)
which relate to any specific Bulk ASU site to the extent Environmental Losses regarding each such
specific Bulk ASU site do not, in the aggregate, exceed two hundred fifty thousand dollars
($250,000), or (D) which exceed, in the aggregate, forty-five million dollars ($45,000,000) (the
“Environmental Cap”); provided, however, that the Environmental Basket
Amount and the

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Environmental Cap shall not apply to claims brought pursuant to Section 13.2(c) with
respect to the matter(s) identified on Schedule 13.2(c).

          (b) For purposes of Section 13.4(a), in computing individual or aggregate amounts of such
claims, the amount of each claim shall be deemed to be an amount net of any adjustments to the
Purchase Price pursuant to Section 2.3 to the extent that such adjustments specifically compensate
the Purchaser and its Affiliates with respect to such claims.

          (c) Remediation of Particular Matters. The Sellers’ obligation to indemnify the
Purchaser Indemnitees pursuant to Section 13.2 shall be subject to and limited by the following
conditions:

               (i) Sellers’ Remediation. The Sellers shall have the right but not the obligation to
conduct and control the management of any Remediation that is subject to indemnification pursuant
to this Agreement (any such Remediation for which the Sellers make such an election, a
“Sellers’ Remediation”). In furtherance of this right, prior to initiating any Remediation
regarding which the Purchaser may seek indemnification pursuant to Section 13.2 hereof, the
Purchaser shall notify the Sellers of such Environmental Liability and its intention to undertake
such Remediation. The Sellers shall, within thirty (30) days of the Sellers’ receipt of such
notice (or reasonable shorter period, in the case of an emergency Remediation), indicate to the
Purchaser that (i) it intends to undertake said Remediation or (ii) that more information is needed
from the Purchaser before the Sellers can reasonably determine that the Purchaser’s claim would be
subject to indemnification pursuant to this Agreement. The Purchaser shall promptly respond to
such requests for information (to the extent such information is reasonably available to the
Purchaser) and, within thirty (30) days after the Sellers’ receipt of such information, the Sellers
shall notify the Purchaser as to whether it shall undertake such Remediation. Prior to a
determination by the Sellers that they shall undertake such actions pursuant to this Section
13.4(c)(i), the Purchaser shall take only those actions necessary to comply with applicable
Environmental Law or to address Conditions that pose an immediate and acute health risk.

               (ii) Purchaser’s Remediation. Without any limitation to Section 13.4(c)(iv), in
undertaking any Remediation for which the Purchaser shall seek indemnification pursuant to Section
13.2 of this Agreement, the Purchaser shall: (A) utilize only such actions which (1) are necessary
to resolve and discharge the Environmental Liability in question, and (2) employ the most
cost-effective means available that is consistent with good business practice and the use of the
property immediately prior to the Closing Date and is acceptable to the relevant Governmental Body;
(B) initiate and diligently pursue until completion all such actions in compliance with all
applicable Law, including all Environmental Law; (C) not cause, through its own action or inaction,
any undue delay in obtaining written notice from the appropriate Governmental Authority that no
further investigation or remediation is necessary with respect to the matter in question; and (D)
provide copies to the Sellers of all material correspondence and reports prior to the Purchaser
undertaking any Remediation work at a Subject Property. In particular, the Purchaser shall provide
to the Sellers, for the Sellers’ review and comment, the Purchaser’s proposed Remediation plan,
which shall include the data, evaluations, reports and other information upon which the Purchaser
relied in preparing its proposed Remediation plan. The Sellers shall provide comments to the
Purchaser on the

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proposed Remediation plan, which the Purchaser shall not unreasonably reject,
within sixty (60) days (or, in the event that submission of the Remediation plan is required in
less than sixty (60) days under applicable Environmental Law, then within a reasonable time prior
to the submission of the Remediation plan, provided that the Purchaser shall use commercially
reasonable efforts to obtain an extension of time for submission of such plan) of the receipt
thereof, after which the Purchaser shall provide the final Remediation plan to the Sellers for the
Sellers’ approval, which approval may not be unreasonably withheld or delayed.

               (iii) Remediation of Leased Real Property. In the event that an Action is commenced
against the Purchaser after the Closing relating to an Environmental Liability on a Leased Real
Property:

               (A) If such Environmental Liability is not identified as having arisen in
connection with the Sellers’ conduct of the Bulk Gas Business, the Purchaser shall
first demand indemnification from the lessor of the Leased Real Property for any
liability relating to the Environmental Liability. The Purchaser shall thereafter
seek in good faith to obtain such indemnification from such lessor;
provided, however, that if such lessor refuses or fails to assume
the defense of the matter and to indemnify the Purchaser for all losses related to
the matter, the Purchaser may require the Sellers to provide such indemnification as
would otherwise be available under this Section 13. In such applicable
circumstances, the Purchaser shall assign to the Sellers all rights it has under the
lease and at Law to recover from the lessor any losses relating to the Environmental
Liability in question.

               (B) If such Environmental Liability is identified as having arisen in
connection with the Sellers’ conduct of the Bulk Gas Business, all of the otherwise
applicable obligations of the Sellers with respect to indemnification of the
Purchaser for such matters under this Section 13 shall apply.

               (iv) Mitigation of Indemnified Environmental Losses.

               (A) (A) the Purchaser agrees to cooperate with the Sellers and to take all
commercially reasonable actions to avoid and minimize Losses under or relating to
Environmental Laws or Hazardous Substances that would otherwise be subject to
Sellers’ obligations under this Section 13, including (1) not undertaking, or
soliciting or importuning any Governmental Body to require, any Remediation or
invasive environmental investigation unless affirmatively required to do so by
Environmental Laws or other applicable Laws and (2) agreeing to the imposition of
reasonable deed or use restrictions or institutional or engineering controls to the
extent that the foregoing facilitate the cost-effective Remediation of any relevant
property and do not materially interfere with the conduct of the operations at the
property as conducted as of the Closing Date. Notwithstanding the foregoing, the
performance of a reasonable voluntary invasive environmental investigation at a
relevant Real Property that (x) is performed in good faith at the request of a bona
fide and unrelated prospective purchaser of the relevant Real Property or the
operations performed at the relevant

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Real Property, (y) is completed prior to the
second anniversary of the Closing Date, and (z) none of Purchaser and its Affiliates
urged or importuned in any way the prospective purchaser’s request for or
performance of such invasive environmental investigation shall not constitute a
breach of the obligations imposed under Section 13.4(c)(iv)(A)(1) of this Agreement.

               (B) In addition to any other limitations on Sellers’ obligations that may
apply, with respect to any claim that any of the Purchaser Indemnitees
may assert under or relating to Environmental Laws or Hazardous Substances, the
Sellers shall have no obligation with respect to such claim to the extent the
Losses: (1) arise out of any breach of the Purchaser’s covenants under this Section
13.4(c)(iv), (2) arise out of any Remediation using a cleanup or remedial standard
or method that is more stringent or costly than necessary for the continued use of
any property or facility as it was last used by the Sellers prior to the Closing
Date under Environmental Laws applicable as of the Closing Date, (3) are ordinary
costs of any post-Closing operation, construction, demolition or renovation of any
properties or facilities owned, leased or operated by any Purchaser Indemnitee, and
(4) result from any change in Environmental Laws or other applicable Laws after the
Closing Date.

     13.5. Indemnification of the Sellers. Subject to the provisions of this Section 13 and
subject to the terms of any subsequent agreement entered into between the Guarantor and/or its
Affiliates and the Purchaser, the Purchaser agrees to defend, indemnify and hold harmless the
Sellers and their Affiliates and their respective officers, directors, agents, employees and
representatives and the respective successors and assigns of each of the foregoing (the “Seller
Indemnitees”), regardless of any investigation made at any time by or on behalf of any Seller
Indemnitee or any information any Seller Indemnitee may have, against and in respect of any Losses
incurred by the Seller Indemnitees arising out of or resulting from:

          (a) a breach of any of the representations or warranties made by the Purchaser in Section 5 of
this Agreement;

          (b) a breach of any of the covenants or agreements made or to be performed by the Purchaser or
its successors pursuant to this Agreement;

          (c) to the extent not subject to the Sellers’ duty to indemnify the Purchaser pursuant to
Section 13.2, any Action brought or claim made by a Third Party resulting from the use of Seller
Marks by the Purchaser, the Companies or the Operating Company after the Closing;

          (d) to the extent not subject to Seller’s duty to indemnify Purchaser pursuant to Section
13.2, any liability or obligation including under or relating to Environmental Laws or Hazardous
Substances (other than Excluded Liabilities) of any nature or kind, known or unknown, fixed,
accrued, absolute or contingent, or any claim, demand or condition asserted with respect to the
operation of the Bulk Gas Business, the Companies or the Operating Company by the Purchaser, the
Companies or the Operating Company arising out of events

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occurring after the Closing Date or the
Purchaser’s or any of its Affiliates’ ownership, control or operation of the Companies, the
Operating Company and the Bulk Assets after the Closing;

          (e) to the extent not subject to the Sellers’ duty to indemnify the Purchaser pursuant to
Section 13.2, Losses arising on or after the Closing Date under the Bulk Contracts and the Real
Property Leases (other than liabilities, obligations and expenses arising out of or relating to any
breach or default by the Sellers, the Companies or the Operating Company prior
to the Closing of any of their respective obligations under the Contracts or Real Property
Leases); or

          (f) to the extent not subject to the Sellers’ duty to indemnify the Purchaser pursuant to
Section 13.2, Losses (including any Environmental Liabilities and any Actions) related to or
arising out of the Purchaser’s, the Companies’, the Operating Company’s, or any of their
Affiliates’ (or any of their successors’) conduct of the Bulk Gas Business after the Closing Date
or the Purchaser’s or any of its Affiliates’ ownership, control or operation of the Companies, the
Operating Company and the Bulk Assets after the Closing.

          The obligations of the Purchaser hereunder shall bind the successors and assigns of the
Purchaser.

          For all purposes of this Section 13.5, a breach of the Purchaser’s representations and
warranties shall be determined without regard to any limitation or qualification as to
“materiality”, “material”, “materially” or “material adverse effect” set forth in such
representation or warranty. For the avoidance of doubt, the term “Material” in the definition
names of “Business Material Adverse Effect”, “Material Contracts”, “Material Customers”, “Material
Permits” and “Material Restrictions” shall not be disregarded (i.e., “Material Contracts” shall not
be deemed “Contracts”).

     13.6. Duration of Indemnification of the Sellers. The Purchaser’s respective obligations to
defend, hold harmless and indemnify the Seller Indemnitees under Section 13.5 shall apply only to
any Claim Notice given pursuant to Section 13.8 within the following periods:

	 	 	 	 	 
	 

	 	Section 13.5(a)
	 	Eighteen (18) months after the Closing Date, except that the
Purchaser’s indemnification obligation with respect to a breach of any
representation or warranty contained in Sections 5.1 or 5.2 shall survive until
the expiration of the applicable statute of limitations.
	 
	 	 	 	 
	 

	 	Section 13.5(b)
	 	Eighteen (18) months after the Closing Date with respect to
covenants and agreements of the Purchaser that by their terms are to be
performed in full prior to or on the Closing Date. No time limit with respect
to covenants and agreements of the Purchaser that by their terms are to be
performed or completed after the Closing Date.
	 
	 	 	 	 
	 

	 	Section 13.5(c)-(e)
	 	No time limit, provided that the Purchaser’s indemnification
obligation with respect to any claims in

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	 	 	 	respect of Taxes shall survive until
the expiration of the applicable statute of limitations.

     13.7. Limitation on Indemnification of the Sellers. The Purchaser’s obligation to defend, indemnify and hold harmless the Seller Indemnitees
under Section 13.5(a) shall apply only after the Seller Indemnitees have suffered Losses under
Section 13.5(a) in excess of the Basket Amount, after which the Purchasers shall only be obligated
to indemnify Losses in excess of such amount; provided that in calculating whether the
Basket Amount has been obtained, only Losses in excess of seventy five thousand dollars ($75,000)
in respect of any breach or breaches arising out of the same or a series of related facts,
circumstances, events or conditions shall be considered. The Purchaser will be obligated only to
indemnify and hold harmless Seller Indemnitees under Sections 13.5(a) (except for those based upon,
arising out of or otherwise in respect of Section 5.1 or 5.2) (a) for Losses in excess of the
Minimum Claim Amount and (b) up to an aggregate amount equal to the Maximum Amount.
Notwithstanding the foregoing provisions of this Section 13.7, with respect to Sections 13.5(c)
through (e) only, the Sellers shall be entitled to receive indemnification payments without regard
to the individual or aggregate amount thereof and without regard to whether the aggregate amount of
all other indemnification payments shall have exceeded, in the aggregate, the Basket Amount or
shall have exceeded, in the aggregate, the Maximum Amount. Any claim which is within the
description of Section 13.5(a) which is also within the description of either of Sections 13.5(b)
and 13.5(c), shall be deemed to be asserted and treated hereunder for all purposes as a claim
arising out of Sections 13.5(b) and 13.5(c), as appropriate, as long as such claim has been
initially asserted as such.

     13.8. Procedure for Indemnification. The procedure for indemnification with respect to
claims under Section 13.2 and Section 13.5 shall be as follows:

          (a) The party claiming indemnification (the “Indemnified Party”) shall give written
notice to the party from whom it is seeking indemnification (the “Indemnifying Party”), of
any claim for indemnification or any other Action or Tax Action promptly after receiving notice or
becoming aware thereof (a “Claim Notice”), and such notice shall specify in reasonable
detail (i) the factual basis for such claim, (ii) the amount of the claim to the extent that it can
be reasonably estimated and (iii) the provision of this Agreement under which such indemnification
is claimed and a reasonable description of the basis under this Agreement for such claim;
provided, however, that, without limiting Section 13.3, any delay by the
Indemnified Party in giving such notice shall not reduce the Indemnified Party’s right to
indemnification under this Agreement except and only to the extent that the Indemnifying Party is
actually prejudiced or harmed by such delay.

          (b) If such notice from the Indemnified Party pertains to a claim or demand by a Third Party,
then the Indemnifying Party shall have sixty (60) days (or, if applicable, until the substantial
completion of discovery in connection with the Action) following receipt of such notice (so long as
the Indemnified Party has cooperated with the Indemnifying Party and complied with this Section
13.8) to (i) make such investigation of the claim or demand as the Indemnifying Party deems
necessary or desirable and (ii) notify the Indemnified Party of whether or not the Indemnifying
Party desires to defend the Indemnified Party against such claim or demand at its sole cost and
expense (subject to the limits contained in this Section 13);

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provided, however,
that the Indemnifying Party shall not have the right to defend or direct the defense of any such
claim, suit or demand unless (x) such claim, suit or demand does not seek
remedies in addition to monetary damages that are reasonably likely to be awarded, (y) the
counsel selected by the Indemnifying Party is reasonably satisfactory to the Indemnified Party, and
(z) the Indemnified Party is given the opportunity, at its option, to participate at its own cost
and expense and with counsel of its own choosing. During such sixty (60)-day (or longer, if
applicable) period, the Indemnified Party shall make such filings, including motions for
continuance (and answers if a motion for continuance has not been granted), as may be necessary to
preserve the parties’ positions and rights with respect to such claim or demand and if the
Indemnifying Party desires to assume the defense of such action it shall first acknowledge that it
is fully responsible for Losses incurred by the Indemnified Party relating to such Action and shall
reimburse the Indemnified Party for all reasonable costs and expenses incurred prior to the date
that the Indemnifying Party assumed the defense of such Action.

          (c) During the sixty (60)-day (or longer, if applicable) period under Section 13.8(b) and
thereafter, if the Indemnifying Party elects to defend the Indemnified Party against such third
party claim or demand in accordance with Section 13.8(b), the Indemnified Party shall cooperate
with the Indemnifying Party and its counsel with respect to any such claim or demand, including by
making available to the Indemnifying Party, at the Indemnifying Party’s expense, all witnesses,
pertinent records, materials and information in the Indemnified Party’s possession or under the
Indemnified Party’s control relating thereto as is reasonably required by the Indemnifying Party.
Upon confirmation by the Indemnifying Party of its desire to assume the defense of such claim or
demand on the terms set forth above, the Indemnifying Party shall not be liable to the Indemnified
Party for any legal fees and expenses subsequently incurred by the Indemnified Party;
provided, however, that if, in the reasonable opinion of outside counsel to the
Indemnified Party, there exists a conflict of interest between the Indemnifying Party and the
Indemnified Party, the Indemnifying Party shall be liable for the reasonable legal fees and
expenses of one separate counsel to the Indemnified Party. If the Indemnified Party desires to
participate in, but not control, any such defense, it may do so at its sole cost and expense. The
Indemnifying Party shall keep the Indemnified Party reasonably informed of all material
developments and furnish copies to the Indemnified Party of all material papers filed with a court
or sent to or from the opposing party or parties. The Indemnified Party shall not settle,
compromise, discharge or otherwise admit to any liability for any claim or demand without the prior
written consent of the Indemnifying Party (which consent shall not be unreasonably withheld or
delayed). The Indemnifying Party shall not settle, compromise, discharge or otherwise admit to any
liability for any claim or demand without the prior written consent of the Indemnified Party (which
consent shall not be unreasonably withheld or delayed), unless such settlement fully and finally
releases the Indemnified Party from all claims and involves only the payment of money.

          (d) If the Indemnifying Party elects not to defend the Indemnified Party against such third
party claim or demand, the Indemnified Party shall have the right to defend the claim or demand
through appropriate proceedings and shall have the sole power to direct and control such defense.
The Indemnifying Party shall have the right, at its sole cost and expense, to participate and
consult in the defense thereof with counsel of their own choosing and the Indemnified Party shall
consider in good faith the reasonable suggestions, comments and concerns of the Indemnifying Party.
No such participation shall be deemed an admission that the

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Indemnifying Party is liable for such
claim or demand or that the Indemnified Party is entitled to indemnification hereunder in
connection therewith.

          (e) Notwithstanding the foregoing but subject to the proviso to this sentence, the Sellers
shall retain and assume the defense of all third party claims with respect to the Retained
Litigation and any Action relating to any Excluded Business, at its expense and with counsel of its
choice; provided that the Sellers shall not have the right to defend or direct the defense
of any Retained Litigation or Action that relates to an Excluded Business unless such claim, suit
or demand does not seek remedies in addition to monetary damages that are reasonably likely to be
awarded. The Purchaser shall cooperate with the Sellers and their counsel with respect to any such
claim or demand with respect to the Retained Litigation by providing, at the Sellers’ expense,
reasonable access to the Real Property, properties, written Contracts and other assets, books and
records and officers of the Companies and the Operating Company and making available to the
Sellers, at the Sellers’ expense, all witnesses, pertinent records, materials and information in
the possession of the Purchaser or its Affiliates or under their control relating thereto as is
reasonably required by the Sellers, or to the extent that the defense of any Retained Litigation is
not assumed by either of the Sellers then the Sellers shall provide such similar cooperation and
access as set forth above to the Purchaser in connection with the defense of such Retained
Litigation or any Action relating to any Excluded Business. The Sellers shall keep the Purchaser
reasonably informed of all material developments and furnish copies to the Indemnified Party of all
material papers filed with a court or sent to or from the opposing party or parties. No
Indemnified Party shall pay or permit to be paid, any part of a third party claim relating to
Retained Litigation or any Action relating to any Excluded Business without the prior written
consent of the Sellers (which consent will not be unreasonably withheld or delayed), unless the
failure to do so would be in violation of any applicable Law or Order. The Sellers shall not
settle, compromise, discharge or otherwise admit to any liability for any claim or demand relating
to the Retained Litigation or any Action that relates to an Excluded Business without the prior
written consent of the Purchaser (which consent shall not be unreasonably withheld or delayed),
unless such settlement fully and finally releases the Companies, the Operating Company and any
other related Indemnified Party from all claims and involves only the payment of money by the
Sellers. Without limiting the foregoing, from and after the Closing, with respect to any Third
Party Claim, Retained Litigation or any Action relating to any Excluded Business, the Indemnified
Party shall, and shall cause its Affiliates to, at the Indemnifying Party’s expense (i) furnish to
the Indemnifying Party such information as the Indemnifying Party shall reasonably request and (ii)
make available to the Indemnifying Party their employees whose assistance, testimony or presence is
reasonably requested by the Indemnifying Party to assist the Indemnifying Party in evaluating,
defending or prosecuting any such Claims, Litigation or Liability, including the presence and
testimony of such persons as witnesses in hearings or trials for such purposes. With respect to
the Retained Litigation and any Action relating to any Excluded Business, the Purchaser and its
Affiliates hereby acknowledge and agree that from and after the Closing, subject to the terms
hereof, the Seller shall have the right to continue prosecuting and defending such Retained
Litigation or Action that relates to any Excluded Business in the name of the Operating Company and
the Parties shall cooperate with each other to place the Seller as the real party in interest in
such Retained Litigation or Action that relates to an Excluded Business. Without limi
ting the
rights of the Purchaser to be indemnified in connection with such Action, any claims or
counterclaims of the Indemnified Party in connection with any Retained Litigation or Action that
relates to an Excluded Business

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shall be for the benefit of, and controlled by, the Indemnifying
Party, and the Indemnified Party shall turn over and make available to the Indemnifying Party any
proceeds, settlement payments
or other amounts recovered in connection therewith. With respect to any Third Party Claim,
Retained Litigation or Action that relates to an Excluded Business, the Purchaser shall cause the
Indemnified Parties (including the Companies and their subsidiaries) to act within the reasonable
direction of the Indemnifying Party and to execute and deliver all such agreements, filings,
pleadings, affidavits, instruments and other documents and take and do all such other actions and
things as may be reasonably requested by the Indemnifying Party in order to vest, perfect, confirm
maintain, preserve, protect and enforce its rights under this Section 13. The Parties agree that
they have a common interest in defending against any Third Party Claims, Retained Litigation or
Action that relates to an Excluded Business and further agree that communications between and among
attorneys for such Parties in furtherance of such common interest shall be subject to the joint
defense privilege.

     13.9. Payment Limitation. Payments by any Indemnifying Party shall be limited to the amount
of any loss or damage that remains after deducting therefrom any (i) Tax Benefit to the Indemnified
Party, (ii) any insurance proceeds relating thereto actually received by the Indemnified Party (net
of the amount of any insurance deductible or similar amounts deducted therefrom or self-insured
retentions assumed by the Indemnified Party), and (iii) any indemnity, contribution or other
similar payment relating thereto actually received by the Indemnified Party; provided, that
in the case of subsections (ii) and (iii) above, the Indemnified Party shall use commercially
reasonable efforts to pursue or otherwise seek to obtain any insurance proceeds under any insurance
policy (other than self-insurance or retrospective policies) or any indemnity, contribution or
other similar payment but that the Indemnified Party shall have no obligation to engage in any
litigation in connection therewith); provided, however, that, except as required
pursuant to Section 6.15, the Purchaser Indemnified Parties shall have no obligation to make any
claim under any insurance policy or seek to obtain any indemnity or similar payment in respect of
Losses related to any Excluded Liability. If an Indemnified Party receives such insurance proceeds
or indemnity, contribution or other similar payments for which it has received indemnification,
such party shall pay over to the Indemnifying Party the amount of such insurance proceeds or
indemnity, contribution or other similar payments when received. In computing the amount of any
Tax Benefit, the Indemnified Party shall be deemed to recognize all other items of income, gain,
loss, deduction or credit before recognizing any item arising from the receipt of any
indemnification payment hereunder or the incurrence or payment of any indemnified loss;
provided that, if a Tax Benefit is not realized in the taxable period during which an
Indemnifying Party makes an indemnification payment or the Indemnified Party incurs or pays any
loss, the parties hereto shall thereafter make payments to one another at the end of each
subsequent taxable period to reflect the net Tax Benefits realized by the parties hereto in each
such subsequent taxable period.

     13.10. Tax Matters.

          (a) Tax Audits and Contests; Cooperation.

               (i) After the Closing Date, except as provided in (ii) and (iii) below, the Purchaser shall
control the conduct, through counsel of its own choosing, of any audit, claim for refund, or
administrative or judicial proceeding involving any asserted Tax liability or refund

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with respect
to the Companies or the Operating Company (any such audit, claim for refund, or proceeding relating
to an asserted Tax liability referred to herein as a “Contest”).

               (ii) In the case of a Contest after the Closing Date that relates solely to Taxes for which
the Purchaser is indemnified under Section 13.2(a), the Sellers shall control the conduct of such
Contest, but the Purchaser shall have the right to participate in such Contest at its own expense,
and the Sellers shall not be able to settle, compromise and/or concede any portion of such Contest
that is reasonably likely to affect the Tax liability of the Companies or the Operating Company for
any taxable year (or portion thereof) beginning after the Closing Date without the reasonable
consent of the Purchaser, which consent shall not be unreasonably withheld or delayed;
provided that, that if the Sellers fail to assume control of the conduct of any such
Contest within a reasonable period following the receipt by the Sellers of notice of such Contest,
the Purchaser shall have the right to assume control of such Contest and shall be able to settle,
compromise and/or concede such Contest in its sole discretion.

               (iii) In the case of a Contest after the Closing Date that relates both to Taxes for which the
Purchaser is indemnified under Section 13.2(a) and Taxes for which the Purchaser is not indemnified
under Section 13.2(a), the Purchaser shall control the conduct of such Contest, but the Sellers
shall have the right to participate in such Contest at its own expense, and the Purchaser shall not
settle, compromise and/or concede such Contest without the consent of the Sellers, which consent
shall not be unreasonably withheld or delayed.

               (iv) In the case of a Tax that is contested in accordance with the provisions of this Section
13.10, payment of such contested Tax will not be considered due earlier than the date a “final
determination” to such effect is made by such Governmental Body or a court. For this purpose, a
“final determination” shall mean a settlement, compromise, or other agreement with the relevant
Governmental Body, whether contained in an IRS Form 870 or other comparable form, or otherwise,
such as a closing agreement with the relevant Governmental Body, an agreement contained in IRS Form
870-AD or other comparable form, an agreement that constitutes a “determination” under Section
1313(a)(4) of the Code, a deficiency notice with respect to which the period for filing a petition
with the Tax Court or the relevant state, local or foreign tribunal has expired or a decision of
any court of competent jurisdiction that is not subject to appeal or as to which the time for
appeal has expired.

               (v) The Sellers and the Purchaser agree to furnish or cause to be furnished to each other,
upon request, as promptly as practicable, such information (including access to books and records)
and assistance relating to the Companies, the Purchased Equity Interests and the Bulk Gas Business
as is reasonably requested for the filing of any Tax Returns and the preparation, prosecution,
defense or conduct of any Contest. The Sellers and the Purchaser shall reasonably cooperate with
each other in the conduct of any Contest or other proceeding involving or otherwise relating to the
Companies or the Operating Company (or their income or assets) with respect to any Tax and each
shall execute and deliver such powers of
attorney and other documents as are necessary to carry out the intent of this Section
13.10(a)(v). Any information obtained under this Section 13.10(a)(v) shall be kept confidential,
except as may be otherwise necessary in connection with the filing of Tax Returns or in the conduct
of a Contest or other Tax proceeding.

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               (vi) Each of the Purchaser and the Companies, on the one hand, and the Sellers and the other
hand, shall (a) use their reasonable best efforts to properly retain and maintain the tax and
accounting records of the Companies and the Operating Company that relate to Pre-Closing Tax
Periods for six (6) years and shall thereafter provide each other with written notice prior to any
destruction, abandonment or disposition of all or any portions of such records, (b) transfer such
records to each other upon written request prior to any such destruction, abandonment or
disposition and (c) allow each others and their Affiliates and their respective agents and
representatives, at times and dates reasonably and mutually acceptable to the parties, to from time
to time inspect and review such records as they may deem necessary or appropriate;
provided, however, that in all cases, such activities are to be conducted during normal
business hours and at the reviewing party’s sole expense. Any information obtained under this
Section 13.10(a)(vi) shall be kept confidential, except as may be otherwise necessary in connection
with the filing of Tax Returns or in the conduct of a Contest or other Tax proceeding.

          (b) Preparation of Tax Returns and Payment of Taxes.

               (i) In the case of Tax Returns that are filed with respect to a taxable period that ends on or
prior to the Closing Date, the Sellers shall prepare such Tax Return in a manner consistent with
past practice, except as otherwise required by Law.

               (ii) In the case of Tax Returns that are filed with respect to Straddle Periods (as defined in
Section 13.10(c) below), the Purchaser shall prepare such Tax Return in a manner consistent with
past practice, except as otherwise required by law. For the avoidance of doubt, the Sellers shall
be responsible for any Pre-Closing Taxes due in respect of such Straddle Period Tax Returns. The
Purchaser shall notify the Sellers of any amounts due from Sellers in respect of any such Tax
Return no later than ten (10) Business Days prior to the date on which such Tax Return is due, and
Sellers shall remit such payment to Purchaser no later than five (5) Business Days prior to the
date such Tax Return is due.

          (c) Straddle Periods. For purposes of this Agreement, in the case of any Taxes of the
Companies or the Operating Company that are payable with respect to any Tax period that begins
before and ends after the Closing Date (a “Straddle Period”), the portion of any such Taxes
that constitutes Pre-Closing Taxes shall: (i) in the case of Taxes that are either (x) based upon
or related to income or receipts, or (y) imposed in connection with any sale, transfer or
assignment or any deemed sale, transfer or assignment of property (real or personal, tangible or
intangible), be deemed equal to the amount that would be payable if the Tax year or period ended on
the Closing Date; and (ii) in the case of Taxes (other than those described in clause (i) above)
that are imposed on a periodic basis with respect to the business or assets of Companies or the
Operating Company or otherwise measured by the level of any item, be deemed to be the amount of
such Taxes for the entire Straddle Period (or, in the case of such Taxes determined on an arrears
basis, the amount of such Taxes for the immediately preceding
Tax period) multiplied by a fraction the numerator of which is the number of calendar days in
the portion of the Straddle Period ending on the Closing Date and the denominator of which is the
number of calendar days in the entire Straddle Period. For purposes of clause (i) of the preceding
sentence, any exemption, deduction, credit or other item (including, without limitation, the effect
of any graduated rates of tax) that is calculated on an annual basis shall be allocated to

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the
portion of the Straddle Period ending on the Closing Date on a pro rata basis determined by
multiplying the total amount of such item allocated to the Straddle Period times a fraction, the
numerator of which is the number of calendar days in the portion of the Straddle Period ending on
the Closing Date and the denominator of which is the number of calendar days in the entire Straddle
Period. In the case of any Tax based upon or measured by capital (including net worth or long-term
debt) or intangibles, any amount thereof required to be allocated under this Section 13.10(c) shall
be computed by reference to the level of such items on the Closing Date. The parties hereto will,
to the extent permitted by applicable law, elect with the relevant Governmental Body to treat a
portion of any Straddle Period as a short taxable period ending as of the close of business on the
Closing Date.

     13.11. Exceptions.

          (a) The Sellers shall have no liability under any provisions of this Agreement for any losses
and damages to the extent that such losses and damages are caused by actions taken by the Purchaser
and its Affiliates after the Closing Date. In connection with calculating the amount of Losses
that a Purchaser Indemnitee is entitled to recover under Section 13.2 (other than a Loss arising
out of or resulting from a willful breach of any of the covenants or agreements set forth in this
Agreement) (a “Covered Loss”), no party shall be liable for consequential, special,
indirect, incidental, punitive, lost profit or other expectancy damages (including any damages
computed or determined on the basis of a diminution in value or using any multiple of any financial
measure, including earnings, EBITDA, book value or any similar item that may have been used in
arriving at the Purchase Price or that may be reflective of the Purchase Price), except (i) to the
extent consequential, special, indirect, incidental, punitive, lost profit or other expectancy
damages are awarded to a third party against an Indemnified Party in circumstances in which such
Indemnified Party is entitled to indemnification hereunder or (ii) in accordance with Section
13.11(b) below.

          (b) Notwithstanding the other provisions of this Section 13.11, in calculating the amount of
Losses that a Purchaser Indemnitee is entitled to recover with respect to Covered Losses, the
Purchaser shall be entitled to receive the amount of such Losses determined by the diminution in
value of the Bulk Gas Business (“Diminution in Value Losses”), but, subject to the
following:

               (i) No claim under Section 13.2 for Covered Losses that are not available under Section
13.11(a) (without giving effect to clause (ii) thereof) but are available under Section 13.11(b) (a
“Section 13.11(b) Claim”) shall be available, and no such Covered Losses shall be
recoverable, if and to the extent the Sellers can demonstrate that the value of the Bulk Gas
Business at Closing, based on, among other things, the multiples of EBITDA set forth in the
Framework Agreement, are equal to or in excess of the Purchase Price paid by the
Purchaser (it being understood that the Purchaser shall provide all information reasonably
requested by the Sellers to establish such value);

               (ii) No Section 13.11(b) Claim in connection with a claim hereunder shall be able to be made
with respect to any individual claim, or series of related claims, and no such Losses relating
thereto shall be recoverable, unless and until the Purchaser Indemnitees have suffered Diminution
in Value Losses in respect of any individual claim or series of related

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claims in excess of seven
million five hundred thousand ($7,500,000) and in excess of thirty-five million dollars
($35,000,000) in the aggregate (it being understood that in calculating whether such $35,000,000
amount has been met, only claims meeting the foregoing $7,500,000 limit shall be included), after
which, subject to the other terms of this Agreement, the Sellers shall be obligated to indemnify
the Purchaser Indemnitees for all of such amount (it being understood that amounts counted toward
any basket contained in one provision of this Agreement may be counted toward any other applicable
basket amount contained in any other provision of this Agreement);

               (iii) The Purchaser and the Purchaser Indemnitees shall each (i) use its reasonable best
efforts to mitigate the amount of any Diminution in Value Loss, including by making reasonable best
efforts to mitigate or resolve any related claim, liability or Loss and (ii) provide the Sellers a
reasonable opportunity to remedy or reduce such Losses; provided, that any failure to so
mitigate shall not, in and of itself, result in a loss of the right to bring the related
indemnifiable claim but shall be considered in determining the amount of indemnifiable Losses to
which a party is entitled hereunder; and

               (iv) In the event a Purchaser Indemnitee commences an Action to recover Diminution in Value
Losses in connection with a Section 13.11(b) Claim and it is determined by a court of competent
jurisdiction that such claim did not have a good faith or reasonable basis or to have been
otherwise frivolous, then the Purchaser Indemnitee shall pay the Sellers an amount equal to three
(3) times the reasonable costs and expenses the Sellers incurred in connection with such Action.

     13.12. Exclusive Remedy. The parties hereby acknowledge and agree that, from and after the
Closing, their sole and exclusive remedy with respect to any and all claims relating to the subject
matter of this Agreement, including under or relating to any Environmental Laws or Hazardous
Substances, shall be pursuant to the indemnification provisions set forth in this Section 13 (other
than with respect to the Transaction Documents and the remedies provided for therein and other than
claims of, or causes of action arising from, fraud). In furtherance of the foregoing, the parties
hereby waive, to the fullest extent permitted under applicable Law, any and all rights, claims and
causes of action (x) in the case of the Purchaser, that the Purchaser may have against the Sellers
and the Guarantor and its Affiliates and (y) in the case of the Sellers, that the Sellers may have
against the Purchaser (in both cases, other than with respect to the other Transaction Documents
and the remedies provided for therein and other than claims of, or causes of action arising from,
fraud) in connection with the transactions contemplated hereby other than the remedies expressly
provided in this Section 13.

     13.13. Mitigation. The parties shall cooperate with each other with respect to resolving any
claim under this Section 13, and shall use commercially reasonable efforts to mitigate any related
liability or Loss with respect to which one party is obligated to indemnify the other party
hereunder, including by making commercially reasonable efforts to mitigate or resolve any such
claim, liability or Loss, provided, that any failure to so mitigate shall not, in and of
itself, result in a loss of the right to bring the related indemnifiable claim but shall be
considered in determining the amount of indemnifiable Losses to which a party is entitled
hereunder.

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SECTION 14

TERMINATION OF AGREEMENT

     14.1. Events of Termination. This Agreement and the transactions contemplated hereby may be
terminated or abandoned at any time prior to the Closing Date as follows:

          (a) upon the written agreement of the Sellers, on the one hand, and the Purchaser, on the
other hand;

          (b) at the election of the Purchaser, if (i) the Sellers have breached any representation or
warranty contained in this Agreement such that the condition to the Closing set forth in Section
7.1 would not be satisfied or (ii) the Sellers have breached any covenant or agreement contained in
this Agreement such that the condition to the Closing set forth in Section 7.2 would not be
satisfied, which breach is, in either case, not cured by the date that is thirty (30) days after
written notice of such breach is given by the Purchaser to the Sellers;

          (c) at the election of the Sellers, if (i) the Purchaser has breached any representation or
warranty contained in this Agreement such that the condition to the Closing set forth in Section
8.1 would not be satisfied or (ii) the Purchaser has breached any covenant or agreement contained
in this Agreement such that the condition to the Closing set forth in Section 8.2 would not be
satisfied, which breach is, in either case, not cured by the date that is thirty (30) days after
written notice of such breach is given by the Sellers to the Purchaser;

          (d) upon written notice by either the Sellers, on the one hand, or the Purchaser, on the other
hand, if the Closing Date shall not have occurred before February 22, 2007 (which date may be
extended with the prior written consent of all the parties hereto, such consent not to be
unreasonably withheld or delayed for extensions up to March 24, 2007), for any reason other than
(i) the failure of the party seeking to terminate this Agreement to perform its obligations
hereunder or (ii) a breach of a representation or warranty by the party seeking to terminate this
Agreement, which, in either case, which would give the other party the right to terminate this
Agreement;

          (e) at the election of the Sellers if the Sellers have received notice from the Office of the
Director of the Bureau of Competition that it will not recommend approval of this Agreement or the
Purchaser as the buyer of the Bulk Gas Business, the Companies or the Purchased Equity Interests to
the commissioners of the FTC or from the commissioners of the
FTC that they will not approve this Agreement or the Purchaser as the buyer of the Bulk Gas
Business, the Companies or the Purchased Equity Interests, in either case, without material change
to this Agreement or the transactions contemplated hereby; or

          (f) at the election of the Sellers, as contemplated by Section 6.6(c).

     14.2. Consequences of Termination. If this Agreement shall be terminated pursuant to
Section 14.1, this Agreement shall thereafter become void and no party shall have any further
obligation to the other hereunder, except as set forth in Sections 10, 11 and this Section 14.2;
provided, however, that (i) if the Sellers shall have the right to terminate this
Agreement pursuant to Section 14.1(c), or (ii) if the Purchaser shall have the right to terminate
this Agreement pursuant to Section 14.1(b), it is expressly understood and agreed that the
terminating

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party’s right to pursue legal remedies for any willful breach of this Agreement
occurring prior to such termination shall survive such termination unimpaired.

SECTION 15

CONSENT TO JURISDICTION; SERVICE OF PROCESS;

DISPUTE RESOLUTION; WAIVER OF JURY TRIAL

     15.1. General Disputes.

          (a) The Sellers, on the one hand, and the Purchaser, on the other hand, shall attempt in good
faith to resolve any dispute, controversy or claim between them arising out of or relating to this
Agreement, including any dispute over the breach, termination, interpretation, or validity hereof
(the “Dispute”). Each party may request through written notice that the Dispute be
referred to senior executives of the parties who have authority to resolve the Dispute. The
executives shall attempt to resolve the Dispute by agreement within thirty (30) days of such
notice. In attempting to resolve the Dispute the parties shall not be waiving and shall not be
deemed to have waived any rights which they may have under this Agreement or otherwise as a result
of the resolution of a Dispute pursuant to this Section 15.1.

          (b) If the parties to the Dispute are unable to resolve the Dispute as provided in Section
15.1(a), then the Dispute shall be resolved in accordance with this Section 15.1(b) unless the
parties otherwise agree to an alternative dispute resolution procedure. All Actions arising out of
or relating to the Transaction Documents shall be heard and determined exclusively in any New York
federal court sitting in the Borough of Manhattan of The City of New York; provided,
however, that if such federal court does not have jurisdiction over such Action, such
Action shall be heard and determined exclusively in any New York state court sitting in the Borough
of Manhattan of The City of New York; provided, further that to the extent that any
Action has an indispensable party that is not subject to jurisdiction in the State of New York,
such Action will be heard and determined in a court with jurisdiction over such Person. Consistent
with the preceding sentence, the parties hereto hereby (a) submit to the exclusive jurisdiction of
any federal or state court sitting in the Borough of Manhattan of The City of New York for the
purpose of any Action arising out of or relating to this Agreement
brought by any party and (b) irrevocably waive, and agree not to assert by way of motion,
defense, or otherwise, in any such Action, any claim that it is not subject personally to the
jurisdiction of the above-named courts, that its property is exempt or immune from attachment or
execution, that the Action is brought in an inconvenient forum, that the venue of the Action is
improper, or that this Agreement or the transactions contemplated by this Agreement may not be
enforced in or by any of the above-named courts.

          (c) EACH OF THE PARTIES HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW
ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY LITIGATION DIRECTLY OR INDIRECTLY
ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS
AGREEMENT. EACH OF THE PARTIES HERETO HEREBY (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR
ATTORNEY OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD
NOT, IN THE EVENT OF

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LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT
HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT,
AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION
15.1(c).

SECTION 16

ENFORCEMENT OF CERTAIN PROVISIONS AND SPECIFIC PERFORMANCE

     16.1. Enforcement of Certain Provisions.

          If any of the covenants contained in this Agreement or any part thereof, is hereafter
construed to be invalid or unenforceable under any Law, the same shall not affect the remainder of
the covenant or covenants, which shall be given full force and effect, without regard to the
invalid portions. If any of the covenants contained in this Agreement or any part thereof, is held
by a court of competent jurisdiction to be unenforceable because of the duration of such provision
or the geographic area covered thereby or for any other reason, the parties agree that the court
making such determination shall have the power to reduce the duration and/or geographic area of
such provision or otherwise modify the terms of any such covenant and, in its reduced form, said
provision shall then be enforceable; provided, however, that any such reduction or
modification shall apply only with respect to the operation of such Section in the jurisdiction of
such court.

     16.2. Specific Performance. The parties hereto agree that, prior to Closing, irreparable
damage would occur in the event any provision of this Agreement was not performed in accordance
with the terms hereof and that the parties, prior to Closing, shall be entitled to an injunction or
injunctions to prevent breaches of this Agreement and to enforce specifically the terms and
provisions of this Agreement in addition to any other remedy to which they are entitled at law or
in equity.

SECTION 17

GUARANTEE

     17.1. Guaranty. The Guarantor absolutely, unconditionally and irrevocably guarantees to the
Purchaser the full, complete and timely compliance with and performance of all agreements,
covenants and obligations of the Sellers under this Agreement and the other Transaction Documents
(the “Seller Obligations”) and shall take any and all action necessary to cause the Sellers
to perform the Seller Obligations (collectively, the “Guaranty”). The Guaranty shall be
deemed to include the Guarantor’s obligation to satisfy any and all present and future payment
obligations of the Sellers arising in connection with this Agreement and the other Transaction
Documents, in each case, when and to the extent that, any of the same shall become due and payable
or performance of or compliance with any of the same shall be required. The Guaranty constitutes
an absolute, unconditional, irrevocable and continuing guarantee of payment and performance and the
Guarantor shall be liable for any breach of any of the Seller Obligations. The Guaranty shall
remain in full and effect and shall be binding on the Guarantor and its successor and assigns until
all Seller Obligations have been satisfied in full.

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     17.2. No Impairment. The Guarantor’s obligations under the Guaranty shall not be subject to
any reduction, limitation, impairment or termination for any reason (other than by indefeasible
payment and performance in full of the Seller Obligations) and shall not be subject to any defense,
counterclaim, set-off or deduction and, shall remain in full force and effect without regard to,
and shall not be released, impaired or discharged by any circumstance or condition (whether or not
the Guarantor shall have any knowledge or notice thereof) whatsoever that might constitute a legal
or equitable discharge or defense in, any bankruptcy, insolvency, reorganization, arrangement,
readjustment, composition, liquidation or similar proceeding with respect to Guarantor or Sellers
or their respective properties or their creditors or any action taken by any trustee or receiver or
by any court in any such proceeding.

     17.3. Waiver. The Guarantor unconditionally waives: (a) all notices and demands that may be
required by Law or otherwise to preserve any rights against the Guarantor under the Guaranty,
including notice of the acceptance of this Agreement or the Guaranty and (b) right of diligence,
presentment, demand, notice of dishonor, protest, filing of any claim, notice of nonpayment and all
other notices and demands.

SECTION 18

BULK SALES LAW

          The Purchaser hereby waives compliance by the Sellers with the provisions of the bulk sales
Law of any state, including with respect to Tax.

SECTION 19

PUBLIC ANNOUNCEMENTS

          Prior to the Closing Date, no press release or other public announcement, or communication
with any news media, shall be made by or on behalf of any party hereto concerning this Agreement or
the transactions contemplated hereby without providing prior written notice thereof to the other
party, except as may be required by applicable Law or the regulations or listing rules of any
securities exchange. The parties shall cooperate as to the timing and contents of any such press
release, public announcement or communication.

SECTION 20

NOTICES

          All notices and all other communications hereunder shall be in writing and shall be deemed
given if delivered personally or sent by registered or certified mail, postage prepaid (return
receipt requested), sent by facsimile (receipt of which is confirmed) or sent by a nationally
recognized overnight courier to a party at the following address (or at such other address for a
party as shall be specified by like notice):

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If to the Sellers or the Guarantor:

Linde AG

Abraham Lincoln-Strasse 21

65289 Wiesbaden

Germany

Facsimile: +49 (0) 89 7446 1104

Attention: Georg Denoke

with a copy to each of :

Linde Gas LLC

6055 Rockside Woods Blvd.

Independence, Ohio 44131

Facsimile: (216) 642-6715

Attention: Mark D. Weller, Esq.

Simpson Thacher & Bartlett LLP

425 Lexington Avenue

New York, New York 10017

Facsimile: (212) 455-2502

Attention: Peter S. Malloy, Esq.

If to the Purchaser:

Airgas, Inc.

259 North Radnor-Chester Road

Suite 100

Radnor, Pennsylvania 19087-5283

Facsimile: (610) 687-3187

Attention: Dean A. Bertolino, Esq.

with a copy to:

Paul, Weiss, Rifkind, Wharton & Garrison LLP

1285 Avenue of the Americas

New York, New York 10019-6064

Facsimile: (212) 757-3990

Attention: Robert B. Schumer, Esq.

          Each such notice or other communication shall be effective at the time of receipt if delivered
personally or sent by facsimile (with receipt confirmed) or nationally recognized overnight courier
(with receipt confirmed), or three (3) Business Days after being mailed, registered or certified
mail, postage prepaid, return receipt requested.

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SECTION 21

EXTENSIONS AND WAIVERS

          This Agreement may not be amended, supplemented or otherwise modified in any respect except by
an instrument in writing of even or subsequent date hereto duly executed by the parties hereto.
The parties hereto may not (a) extend the time for the performance of any of the obligations or
other acts of the parties hereto, (b) waive any inaccuracies in the representations and warranties
contained in this Agreement or in any documents delivered pursuant to this Agreement or (c) waive
compliance with or modify any of the covenants or agreements contained in this Agreement and waive
or modify performance of any of the obligations of any of the parties hereto, except by an
instrument in writing signed by the parties purporting to be bound thereby.

SECTION 22

ENTIRE AGREEMENT

          This Agreement, including the Schedules and Exhibits attached hereto which are hereby
incorporated by reference contain all the terms agreed upon among the parties with respect to the
subject matter hereof and supersedes all prior agreements, arrangements and communications, whether
oral or written with respect to such subject matter.

SECTION 23

GOVERNING LAW; SERVICE OF PROCESS ON GUARANTOR

          THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE
OF NEW YORK, WITHOUT GIVING
EFFECT TO THE CHOICE OF LAW OR CONFLICTS OF LAW PRINCIPLES THEREOF THAT WOULD CAUSE THE
APPLICATION OF THE LAWS OF ANY OTHER JURISDICTION.

          BY ITS EXECUTION AND DELIVERY OF THIS AGREEMENT, THE GUARANTOR (I) IRREVOCABLY DESIGNATES AND
APPOINTS CT CORPORATION SYSTEM (THE “GUARANTOR AGENT”) AS ITS AUTHORIZED AGENT UPON WHICH
PROCESS MAY BE SERVED IN ANY SUIT OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT AND
(II) AGREES THAT SERVICE OF PROCESS UPON THE GUARANTOR AGENT SHALL BE DEEMED, IN EVERY RESPECT,
EFFECTIVE SERVICE OF PROCESS UPON THE GUARANTOR IN ANY SUCH SUIT OR PROCEEDING. GUARANTOR FURTHER
AGREES, AT ITS OWN EXPENSE, TO TAKE ANY AND ALL ACTION, INCLUDING THE EXECUTION AND FILING OF ANY
AND ALL SUCH DOCUMENTS AND INSTRUMENTS, AS MAY BE NECESSARY TO CONTINUE SUCH DESIGNATION AND
APPOINTMENT OF THE GUARANTOR AGENT IN FULL FORCE AND EFFECT. THE FOREGOING SHALL NOT LIMIT THE
RIGHTS OF ANY PARTY TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW.

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SECTION 24

TRANSFERABILITY; NO THIRD PARTY BENEFICIARIES

          The respective rights and obligations of each party hereto shall not be assignable by such
party without the written consent of the other party, except that any party without such consent
may assign its rights and obligations under this Agreement to (a) any one or more Subsidiary of
such party or (b) any successor in the event of a merger, consolidation, sale of all or
substantially all of its assets, liquidation or dissolution (provided any such assignee pursuant to
the foregoing clause (a) executes and delivers to such other party an agreement satisfactory in
form and substance to such other party under which such assignee assumes and agrees to perform and
discharge all the obligations and liabilities of the assigning party), but any such permitted
assignment shall not relieve the assigning party of its obligations hereunder. This Agreement
shall be binding upon and inure to the benefit of the parties hereto and their respective
successors and permitted assignees. Nothing herein express or implied is intended to confer upon
any Person, other than the parties hereto and their respective successors and permitted assignees,
any rights, remedies, obligations or liabilities under or by reason of this Agreement. Any
attempted or purported assignment in violation of this Section 24 shall be null and void.

SECTION 25

SEVERABILITY

          If any provision of or the application thereof to any Person or circumstance shall be invalid
or unenforceable to any extent, the remainder of this Agreement and the application of such
provision to such Person or circumstances shall not be affected thereby, and shall be enforced to
the greatest extent permitted by law.

SECTION 26

COUNTERPARTS

          This Agreement may be executed in any number of counterparts with the same effect as if the
signatures to each such counterpart were upon the same instrument.

[Signatures follow on next page]

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          IN WITNESS WHEREOF, each party hereto has caused this Agreement to be duly executed and
delivered by its duly authorized representative in its name and on its behalf as of the date first
above written.

	 	 	 	 	 
	 	 	SELLERS:
	 
	 	 	 	 
	 	 	HOLOX (USA) B.V.
	 
	 	 	 	 
	 

	 	By:
	 	/s/ DPH Huberts
	 

	 	 	 	 
	 	 	Name: DPH Huberts
	 	 	Title:   General Manager Hoek Loos
	 
	 	 	 	 
	 	 	HOLOX INC.
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Patrick Murphy
	 

	 	 	 	 
	 	 	Name: Patrick Murphy
	 	 	Title:   President
	 
	 	 	 	 
	 	 	PURCHASER:
	 
	 	 	 	 
	 	 	AIRGAS, INC.
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Leslie J. Graff
	 

	 	 	 	 
	 	 	Name: Leslie J. Graff
	 	 	Title:   Senior Vice President, Corporate Development
	 
	 	 	 	 
	 	 	For purposes of Sections 6.4, 6.5, 6.6, 6.9, 6.11,
6.22, 17 and 23 of this Agreement only:
	 
	 	 	 	 
	 	 	GUARANTOR:
	 
	 	 	 	 
	 	 	LINDE AKTIENGESELLSCHAFT
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Dr. Aldo Belloni
	 

	 	 	 	 
	 	 	Name: Dr. Aldo Belloni
	 	 	Title:   Member of the Board Linde AG
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Georg Denoke
	 

	 	 	 	 
	 	 	Name: Georg Denoke
	 	 	Title:   CFO Linde AGexv10w2

 

Exhibit 10.2

NEOWARE, INC.

Summary of Compensation Arrangement with Peter Bolton, Executive Vice

President — Europe, Middle East and Africa and James Kirby, Executive Vice

President Sales — Americas and APAC

     The following sets forth a summary of the bonus arrangement for the 2007 fiscal year ending
June 30, 2007 for Peter Bolton, Executive Vice President-Europe, Middle East and Africa (“EMEA”)
and for Jim Kirby, Executive Vice President, Americas and Asia Pacific (“APAC”):

     Under the bonus arrangement, Mr. Bolton will have the opportunity to earn base incentive
compensation of up to a $182,000 annual amount if EMEA region overall revenues for the 2007 fiscal
year equal 100% of the annual base target level of EMEA revenues. Mr. Bolton has the opportunity to
earn incentive compensation in excess of the $182,000 annual amount if overall EMEA revenues exceed
100% of the annual base target level for such revenues.

     Bonus amounts are calculated based on a percentage (determined based on $182,000 by the annual
base target level of EMEA revenues) multiplied by the cumulative revenues achieved during the
quarter periods year to date. A higher percentage is applied for revenues which exceed the base
target level of EMEA revenues (calculated on a year-to-date basis) measured for each quarter
period. A minimum of 90% of cumulative base target revenue must be achieved in any quarter period
for Mr. Bolton to receive a payment for such quarter period.

     In the event that Mr. Bolton’s employment with the Company is terminated for any reason,
product orders booked as of the termination date to be shipped immediately thereafter will be
considered as revenues earned during that quarter for purposes of determining Mr. Bolton’s
incentive compensation under this arrangement. The bonus policies, payments and revenue targets
under this arrangement are subject to change at any time with or without notice at the discretion
of the Compensation and Stock Option Committee.

     Under the bonus arrangement, Mr. Kirby will have the opportunity to earn incentive
compensation of up to a $213,000 annual amount if Americas and APAC region overall revenues equal
100% of the annual base target level. Mr. Kirby has the opportunity to earn incentive compensation
in excess of the $213,000 annual amount if Americas and APAC region overall revenues exceed 100% of
the annual base target level of such revenues.

     Bonus amounts are calculated based on a percentage (determined based on dividing $213,000 by
the annual base target level of revenues) multiplied by the cumulative revenue achieved during the
quarter periods year to date. A higher percentage is applied for revenues which exceed the base
target level of such revenues (calculated on a year-to-date basis) measured for each quarter
period. A minimum of

 

 

90% of cumulative base target revenue must be achieved in any quarter period for Mr. Kirby to
receive a payment for such quarter period.

     In the event that Mr. Kirby’s employment with the Company is terminated for any reason,
product orders booked as of the termination date to be shipped immediately thereafter will be
considered as revenues earned during that quarter for purposes of determining Mr. Kirby’s incentive
compensation under this arrangement. The bonus policies, payments and revenue targets under this
arrangement are subject to change at any time with or without notice at the discretion of the
Compensation and Stock Option Committee.

2

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