Document:

Exhibit
4.11

 

Form of Note(1)

(FACE OF NOTE)

 

CDRV ACQUISITION CORPORATION

(to be succeeded by virtue of merger by VWR International, Inc.)

 

8% Senior Subordinated Notes Due 2014

 

CUSIP No. [•](2)[•](3)

No.
                                                     
$
                 

 

CDRV
Acquisition Corporation, a corporation duly organized and existing under the
laws of the State of Delaware (and its successors and assigns, including VWR
International, Inc., a Delaware corporation) (the “Company”), promises to pay
to
                                                 ,
or registered assigns, the principal sum of
$                               
([                               ]
United States Dollars) [(or such lesser or greater amount as shall be outstanding
hereunder from time to time in accordance with Sections 312 and 313 of the
Indenture referred to on the reverse hereof)](4) (the “Principal Amount”) on
April 15, 2014.   The Company promises to pay interest semi-annually
on April 15 and October 15 in each year, commencing October 15, 2004, at the
rate of 8% per annum [(subject to adjustment as provided below)](5) [, except
that interest accrued on this Note for periods prior to the date on which the
Initial Note was surrendered in exchange for this Note will accrue at the rate
or rates borne by such Initial Note from time to time during such periods](6),
until the Principal Amount is paid or made available for payment. [Interest on
this Note will accrue from the most recent date to which interest on this Note
or any of its Predecessor Notes has been paid or duly provided for or, if no
interest has been paid, from the Issue Date.](7)  [Interest on this Note
will accrue (or will be deemed to have accrued) from the most recent date to
which interest on this Note or any of its Predecessor Notes has been paid or
duly provided for or, if no such interest has been paid, from
[                     ,
          ](8).](9) 
Interest on the Notes shall be computed on the basis of a 360-day year of
twelve 30-day months.  The interest so payable, and punctually paid or
duly provided for, on any Interest Payment Date will, as provided in such
Indenture, be paid to the Person in whose name this Note (or one or more
Predecessor Notes) is registered at the close of business on the Regular

 

(1)                                 
Insert any applicable
legends from Article II.

(2)                                 
Include only for
Initial Note.

(3)                                 
Include only for
Exchange Note.

(4)                                 
Include only if the
Note is issued in global form.

(5)                                 
Include only for
Initial Note.

(6)                                 
Include only for
Exchange Note.

(7)                                 
Include only for
Original Notes.

(8)                                 
Insert the Interest
Payment Date immediately preceding the date of issuance of the applicable
Additional Notes, or if the date of issuance of such Additional Notes is an
Interest Payment Date, such date of issuance.

(9)                                 
Include only for
Additional Notes (and Exchange Notes issued in the exchange therefor).

 

 

Record Date for such
interest, which shall be the April 1 or October 1 (whether or not a Business
Day), as the case may be, next preceding such Interest Payment Date.  Any
such interest not so punctually paid or duly provided for will forthwith cease
to be payable to the Holder on such Regular Record Date and may either be paid
to the Person in whose name this Note (or one or more Predecessor Notes) is
registered at the close of business on a Special Record Date for the payment of
such Defaulted Interest to be fixed by the Trustee, notice whereof shall be
given to Holders of Notes not more than 15 days nor less than 10 days prior to
such Special Record Date, or be paid at any time in any other lawful manner not
inconsistent with the requirements of any securities exchange on which the
Notes may be listed, and upon such notice as may be required by such exchange, all
as more fully provided in said Indenture.

 

[The
Holder of this Note is entitled to the benefits of the Exchange and
Registration Rights Agreement, dated April 7, 2004, among the Company and the
initial purchasers named therein (the “Registration Rights Agreement”). 
Until (i) this Note has been exchanged for an Exchange Security (as defined in
the Registration Rights Agreement) in an Exchange Offer (as defined in the
Registration Rights Agreement); (ii) a Shelf Registration Statement (as defined
in the Registration Rights Agreement) registering this Note under the
Securities Act has been declared or becomes effective and this Note has been
sold or otherwise transferred by the holder thereof pursuant to and in a manner
contemplated by such effective Shelf Registration Statement; (iii) this Note is
sold pursuant to Rule 144 under circumstances in which any legend borne by this
Note relating to restrictions on transferability thereof, under the Securities
Act or otherwise, is removed by the Company or pursuant to the Indenture
referred to on the reverse hereof; or (iv) this Note is eligible to be sold
pursuant to paragraph (k) of Rule 144:  From and including the date on
which a Registration Default  (as defined below) shall occur to but
excluding the date on which such Registration Default has been cured,
additional interest will accrue on this Note until such time as all
Registration Defaults have been cured at the rate of (a) prior to the 91st day
of such period (for so long as such period is continuing), 0.25% per annum and
(b) thereafter (so long as such period is continuing), 0.50% per annum. 
Any such additional interest shall not exceed such respective rates for such
respective periods, and shall not in any event exceed 0.50% per annum in the aggregate,
regardless of the number of Registration Defaults that shall have occurred and
be continuing.  Any such additional interest shall be paid in the same
manner and on the same dates as interest payments in respect of this
Note.  Following the cure of all Registration Defaults, the accrual of
such additional interest will cease.  A Registration Default under clause
(iv) or (v) below will be deemed cured upon consummation of the Exchange Offer
in the case of a Shelf Registration Statement required to be filed due to a
failure to consummate the Exchange Offer within the required time period. 
For purposes of the foregoing, each of the following events, as more
particularly defined in the Registration Rights Agreement, is a “Registration
Default”:  (i) neither the Exchange Registration Statement (as defined in
the Registration Rights Agreement) nor a Shelf Registration Statement
(applicable to all of the Registrable Securities (as defined in the
Registration Rights Agreement)) has been filed with the SEC on or before 150
days after the Issue Date; (ii) the Exchange Registration Statement has not
become effective or been declared effective on or before 240 days after the
Issue Date; (iii) the Exchange Offer has not been consummated within 270 days
after the Issue Date; (iv) if a Shelf Registration Statement

 

 

required by the
Registration Rights Agreement is not declared effective by the SEC on or before
150 days after the date on which the obligation to file the Shelf Registration
Statement arises or (v) if any Shelf Registration Statement required by the
Registration Rights Agreement is filed and declared effective, and during the
time the Company is required to use its reasonable best efforts to cause the
Shelf Registration Statement to remain effective, (1) the Company shall have
suspended the Shelf Registration Statement for more than 30 days in the
aggregate in any consecutive twelve-month period and be continuing to suspend
the availability of the Shelf Registration Statement, or (2) the Shelf
Registration Statement ceases to be effective (other than by action of the
Company) without being succeeded within 60 days by a Shelf Registration
Statement that is filed and declared effective.](10) (11)

 

Payment
of the principal of (and premium, if any) and interest on this Note will be
made at the Corporate Trust Office of the Trustee, or such other office or
agency of the Company maintained for that purpose; provided, however,
that at the option of the Company payment of interest may be made by check
mailed to the address of the Person entitled thereto as such address shall
appear in the Note Register.

 

Reference
is hereby made to the further provisions of this Note set forth on the reverse
hereof, which further provisions shall for all purposes have the same effect as
if set forth at this place.

 

Unless
the certificate of authentication hereon has been executed by the Trustee
referred to on the reverse hereof by manual signature, this Note shall not be
entitled to any benefit under the Indenture or be valid or obligatory for any
purpose.

 

 

(10)                           
Include only for
Initial Note when required by the Registration Rights Agreement.

(11)                           
For an Initial
Additional Note, add any similar provision, if any, as may be agreed by the
Issuers with respect to additional interest on such Initial Additional Note.

 

 

IN
WITNESS WHEREOF, the Company has caused this instrument to be duly executed.

 

 

	
   

  	
  CDRV ACQUISITION
  CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  	
   

  
	
   

  	
   

  	
   Name:

  
	
   

  	
   

  	
   Title:

  

 

 

This
is one of the Notes referred to in the within-mentioned Indenture.

 

	
   

  	
  WELLS FARGO BANK,
  NATIONAL

  ASSOCIATION

  
	
   

  	
  As Trustee

  
	
   

  
	
   

  
	
   

  	
  By

  	
   

  	
   

  
	
   

  	
   

  	
  Authorized Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  

 

Dated:

 

 

(REVERSE OF NOTE)

 

This
Note is one of the duly authorized issue of 8% Senior Subordinated Notes Due
2014 of the Company (herein called the “Notes”), issued under an Indenture,
dated as of April 7, 2004 (herein called the “Indenture,” which term shall have
the meanings assigned to it in such instrument), among the Company, as issuer,
the Subsidiary Guarantors from time to time parties thereto, as Subsidiary
Guarantors, and Wells Fargo Bank, National Association, as Trustee (herein
called the “Trustee,” which term includes any successor trustee under the
Indenture), and reference is hereby made to the Indenture for a statement of
the respective rights, limitations of rights, duties and immunities thereunder
of the Company, any other obligor upon this Note, the Trustee and the Holders
of the Notes and of the terms upon which the Notes are, and are to be,
authenticated and delivered.  The terms of the Notes include those stated
in the Indenture and those made a part of the Indenture by reference to the
Trust Indenture Act of 1939, as amended, as in effect from time to time (the
“TIA”).  The Notes are subject to all such terms, and Holders are referred
to the Indenture and the TIA for a statement of such terms.  Additional
Notes may be issued under the Indenture which will vote as a class with the
Notes and otherwise be treated as Notes for purposes of the Indenture.

 

All
terms used in this Note that are defined in the Indenture shall have the
meanings assigned to them in the Indenture.

 

This
Note may hereafter be entitled to certain other senior subordinated Subsidiary
Guarantees made for the benefit of the Holders.  Reference is made to
Article XIII of the Indenture for terms relating to such Subsidiary Guarantees,
including the release, termination and discharge thereof.  Neither the
Company nor any Subsidiary Guarantor shall be required to make any notation on
this Note to reflect any Subsidiary Guarantee or any such release, termination
or discharge.

 

The
Notes are subordinated to Senior Indebtedness of the Company, as defined in the
Indenture, and the Subsidiary Guarantees are subordinated to Senior
Indebtedness of the relevant Subsidiary Guarantor, as defined in the
Indenture.  To the extent provided in the Indenture, Senior Indebtedness
must be paid in full in cash or Cash Equivalents before the Notes or the relevant
Subsidiary Guarantee may be paid.  The Company and the Subsidiary
Guarantors agree, and each Noteholder by accepting a Note agrees, to the
subordination provisions contained in the Indenture and authorizes the Trustee
to give it effect and appoints the Trustee as attorney-in-fact for such
purposes.

 

The
Notes will be redeemable, at the Company’s option, in whole or in part, and
from time to time on and after April 15, 2009 and prior to maturity at the
applicable redemption price set forth below. Such redemption may be made upon
notice mailed by first-class mail to each Holder’s registered address in
accordance with the Indenture.  The Company may provide in such notice
that payment of the redemption price and the performance of the Company’s
obligations with respect to such redemption may be performed by another Person.
Any such redemption and notice may, in the Company’s discretion, be subject to
the satisfaction of one or more conditions precedent, including the occurrence
of a Change of Control.  The Notes will be

 

 

so redeemable at the
following redemption prices (expressed as a percentage of principal amount), plus accrued and unpaid interest, if any,
to the relevant Redemption Date (subject to the right of Holders of record on
the relevant Regular Record Date to receive interest due on the relevant
Interest Payment Date), if redeemed during the 12-month period commencing on
April 15 of the years set forth below:

 

	
  Period

  	
   

  	
  Redemption
  Price

  	
   

  
	
  2009

  	
   

  	
  104.000

  	
  %

  
	
  2010

  	
   

  	
  102.667

  	
  %

  
	
  2011

  	
   

  	
  101.333

  	
  %

  
	
  2012 and thereafter

  	
   

  	
  100.000

  	
  %

  

 

In
addition, at any time and from time to time on or prior to April 15, 2007, the
Company at its option may redeem Notes in an aggregate principal amount equal
to up to 35% of the original aggregate principal amount of Notes (including the
principal amount of any Additional Notes), with funds in an equal aggregate
amount not exceeding the aggregate proceeds of one or more Equity Offerings, at
a redemption price (expressed as a percentage of principal amount thereof) of
108.000%, plus accrued and unpaid
interest, if any, to the Redemption Date (subject to the right of Holders of
record on the relevant Record Date to receive interest due on the relevant
Interest Payment Date); provided,
however, that an aggregate
principal amount of Notes equal to at least 65% of the original aggregate
principal amount of Notes (including the principal amount of any Additional
Notes) must remain outstanding after each such redemption.  The Company
may make such redemption upon notice mailed by first-class mail to each
Holder’s registered address in accordance with the Indenture (but in no event
more than 180 days after the completion of the related Equity Offering). 
The Company may provide in such notice that payment of the redemption price and
performance of the Company’s obligations with respect to such redemption may be
performed by another Person.  Any such notice may be given prior to the
completion of the related Equity Offering, and any such redemption or notice
may, at the Company’s discretion, be subject to the satisfaction of one or more
conditions precedent, including the completion of the related Equity Offering.

 

At any
time prior to April 15, 2009, Notes may also be redeemed or purchased (by the
Company or any other Person) in whole or in part, at the Company’s option, at a
price equal to 100% of the principal amount thereof plus the Applicable Premium as of, and accrued but unpaid
interest, if any, to, the date of redemption or purchase (subject to the right
of Holders of record on the relevant record date to receive interest due on the
relevant interest payment date). Such redemption or purchase may be made upon
notice mailed by first-class mail to each Holder’s registered address in
accordance with the Indenture.  The Company may provide in such notice
that payment of the Redemption Price and performance of the Company’s
obligations with respect to such redemption or purchase may be performed by
another Person. Any such redemption, purchase or notice may, at the Company’s
discretion, be subject to the satisfaction of one or more conditions precedent,
including the occurrence of a Change of Control.

 

 

The
Indenture provides that, upon the occurrence of a Change of Control, each
Holder will have the right to require that the Company repurchase all or any
part of such Holder’s Notes at a purchase price in cash equal to 101% of the
aggregate principal amount thereof plus
accrued and unpaid interest, if any, to the date of such repurchase; provided, however,
that the Company shall not be obligated to repurchase Notes in the event it has
exercised its right to redeem all the Notes as described above.

 

The
Notes will not be entitled to the benefit of a sinking fund.

 

The
Indenture contains provisions for defeasance at any time of the entire indebtedness
of this Note or certain restrictive covenants and certain Events of Default
with respect to this Note, in each case upon compliance with certain conditions
set forth in the Indenture.

 

If an
Event of Default with respect to the Notes shall occur and be continuing, the
principal of the Notes may be declared due and payable in the manner and with
the effect provided in the Indenture.

 

The
Indenture permits, with certain exceptions as therein provided, the amendment
thereof and the modification of the rights and obligations of the Company and
the rights of the Holders of the Notes to be affected under the Indenture at
any time by the Company and the Trustee with the consent of the Holders of at
least a majority in principal amount of the Notes at the time Outstanding to be
affected.  The Indenture also contains provisions permitting the Holders
of specified percentages in principal amount of the Notes at the time
Outstanding, on behalf of the Holders of all Notes, to waive compliance by the Company
with certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences.  Any such consent or waiver by the
Holder of this Note shall be conclusive and binding upon such Holder and upon
all future Holders of this Note and of any Note issued upon the registration of
transfer hereof or in exchange herefor or in lieu hereof, whether or not
notation of such consent or waiver is made upon this Note.

 

As
provided in and subject to the provisions of the Indenture, the Holder of this
Note shall not have the right to institute any proceeding with respect to the
Indenture or for the appointment of a receiver or trustee or for any other
remedy thereunder, unless such Holder shall have previously given the Trustee
written notice of a continuing Event of Default with respect to the Notes, the
Holders of not less than 25% in principal amount of the Notes at the time
Outstanding shall have made written request to the Trustee to pursue such
remedy in respect of such Event of Default as Trustee and offered the Trustee
reasonable security or indemnity, and the Trustee shall not have received from
the Holders of a majority in principal amount of Notes at the time Outstanding
a direction inconsistent with such request, and shall have failed to institute
any such proceeding, for 60 days after receipt of such notice, request and
offer of security or indemnity.  The foregoing shall not apply to any suit
instituted by the Holder of this Note for the enforcement of any payment of
principal hereof or any premium or interest hereon on or after the respective
due dates expressed herein.

 

 

No
reference herein to the Indenture and no provision of this Note or of the
Indenture shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the principal of and any premium and
interest on this Note at the times, place and rate, and in the coin or
currency, herein prescribed.

 

As
provided in the Indenture and subject to certain limitations therein set forth,
the transfer of this Note is registrable in the Note Register, upon surrender
of this Note for registration of transfer at the office or agency of the
Company in a Place of Payment, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Company and the Note
Registrar duly executed by, the Holder hereof or such Holder’s attorney duly
authorized in writing, and thereupon one or more new Notes of like tenor, of
authorized denominations and for the same aggregate principal amount, will be
issued to the designated transferee or transferees.

 

The
Notes are issuable only in registered form without coupons in denominations of
$1,000.00 and any integral multiple thereof.  As provided in the Indenture
and subject to certain limitations therein set forth, the Notes are
exchangeable for a like aggregate principal amount of Notes of like tenor of a
different authorized denomination, as requested by the Holder surrendering the
same.

 

No
service charge shall be made for any such registration, transfer or exchange,
but the Company may require payment of a sum sufficient to cover any tax or
other governmental charge payable in connection therewith.

 

Prior
to due presentment of this Note for registration or transfer, the
Company,  any other obligor in respect of this Note, the Trustee and any
agent of the Company, such other obligor or the Trustee may treat the Person in
whose name this Note is registered as the owner hereof for all purposes,
whether or not this Note be overdue, and none of the Company, any other obligor
upon this Note, the Trustee nor any such agent shall be affected by notice to
the contrary.

 

No
director, officer, employee, incorporator or stockholder, as such, of the
Company, any Subsidiary Guarantor or any Subsidiary of any thereof shall have
any liability for any obligation of the Company, or any Subsidiary Guarantor
under the Indenture, the Notes or any Subsidiary Guarantee, or for any claim
based on, in respect of, or by reason of, any such obligation or its creation. 
Each Holder, by accepting this Note, hereby waives and releases all such
liability.  The waiver and release are part of the consideration for
issuance of the Notes.

 

THE
INDENTURE AND THE NOTES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF NEW YORK.  THE TRUSTEE, THE COMPANY, ANY OTHER
OBLIGOR IN RESPECT OF THE NOTES AND (BY THEIR ACCEPTANCE OF THE NOTES) THE
HOLDERS, AGREE TO SUBMIT TO THE JURISDICTION OF ANY UNITED STATES FEDERAL OR
STATE COURT LOCATED IN THE BOROUGH OF MANHATTAN, IN THE CITY OF NEW YORK IN ANY
ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THE INDENTURE, THE NOTES OR
THE SUBSIDIARY GUARANTEES.Exhibit
10.1

 

This
CONSULTING AGREEMENT, dated as of April 7, 2004  (this “Agreement”),
is entered into by and among CDRV Investors, Inc., a Delaware corporation (“Investors”),
CDRV Holdings, Inc., a Delaware corporation (“Holdings”), CDRV
Acquisition Corporation, a Delaware corporation (“AcquisitionCo”), CDRV
Delaware, Inc., a Delaware corporation (“MergerCo” and, together with
Investors, Holdings and AcquisitionCo, the “Company Group”), and
Clayton, Dubilier & Rice, Inc., a Delaware corporation (“CD&R”).

 

W I  T  N  E  S  S
E  T  H:

 

WHEREAS,
Investors owns all of the outstanding capital stock of Holdings, which, in
turn, owns all of the outstanding capital stock of each of AcquisitionCo and
MergerCo;

 

WHEREAS,
Clayton, Dubilier & Rice Fund VI Limited Partnership, a Cayman Islands
exempted limited partnership (the “CD&R Fund”), organized the
Company Group in connection with the acquisition by the Company of all of the
outstanding capital stock of VWR International Corporation, a Delaware
corporation (the “Company”), and ten percent of the equity ownership
interests of VWR International Immobilien GmbH, a German private limited
liability company, from Merck KGaA, a German partnership limited by shares (“Merck”),
and certain of its Affiliates (as defined below) (the “Acquisition”);

 

WHEREAS,
in connection with the Acquisition, AcquisitionCo has entered into a Stock
Purchase Agreement, dated as of February 15, 2004 (the “Acquisition
Agreement”), by and among AcquisitionCo, Merck, Merck Holding GmbH, a
German private limited liability company, VWR International Holding Europe
GmbH, a German private limited liability company and EMD Chemicals Inc., a New
York corporation;

 

WHEREAS,
following the consummation of the Acquisition, (i) the Company will
merge with and into its wholly-owned subsidiary, VWR International, Inc., a
Pennsylvania corporation (“VWR”), with VWR as the surviving corporation,
(ii) AcquisitionCo will merge with and into VWR, with VWR as the
surviving corporation, and (iii) VWR will merge with and into MergerCo,
with MergerCo as the surviving corporation, and, upon the consummation of such
merger, MergerCo will change its name to VWR International, Inc. (such
transactions collectively, the “Restructuring”);

 

WHEREAS,
concurrently with the execution and delivery of this Agreement, the members of
the Company Group, CD&R, the CD&R Fund and certain of their respective
Affiliates are entering into an Indemnification Agreement, dated as of the date
hereof (the “Indemnification Agreement”);

 

WHEREAS,
CD&R has performed financial, investment banking, management advisory and
other services for the members of the Company Group in connection with the
Acquisition, including without limitation assistance in connection with (a)
the

 

preparation, negotiation,
execution and delivery of the Acquisition Agreement and certain agreements with
Merck and its Affiliates related thereto, including without limitation: (i)
certain distribution and supply agreements, (ii) a transition services
agreement, (iii) an information services master agreement, (iv)
an intellectual property assignment and license agreement, and (v) the
additional agreements described in Section 8.5 of the Acquisition Agreement, (b)
the retention of legal, accounting, insurance, investment banking, financial,
environmental and other advisors and consultants in connection with the
Acquisition, (c) the preparation, negotiation, execution and delivery of
the commitment, fee and engagement letters, registration rights and purchase
agreements, credit agreements, indentures and indenture supplements,
subscription agreements, stockholders agreements, registration and
participation agreements, exchange agent agreements, and other agreements,
instruments and documents relating to the financing of the Acquisition, (d)
the preparation and circulation of information and offering memoranda and other
materials in connection with the financing of the Acquisition and (e)
the structuring, implementation and consummation of the Acquisition (such
services collectively, the “Initial Services”); and

 

WHEREAS,
in addition to the Initial Services, the members of the Company Group desire to
receive future financial, investment banking, management advisory and other
services from CD&R, and CD&R desires to provide such services to the
members of the Company Group;

 

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

 

1.            
Engagement.  Each member of the Company Group hereby confirms that
CD&R has performed the Initial Services as a consultant to the Company
Group.  Each member of the Company Group hereby engages CD&R as a
consultant, and CD&R hereby agrees to provide Consulting Services (as
defined below) and Transaction Services (as defined below) to each member of
the Company Group and their respective subsidiaries, in each case on the terms
and subject to the conditions set forth below.

 

2.            
Scope of Future Services.

 

(a)           
Consulting Services.  CD&R hereby agrees, during the term of
this Agreement, to provide the members of the Company Group and their
respective subsidiaries with such financial, investment banking, management
advisory and other services in connection with the operations of the members of
the Company Group and their respective subsidiaries as may reasonably be
requested from time to time by the Board of Directors of any member of the
Company Group, as the case may be (collectively, the “Consulting Services”),
including assistance (i) developing and implementing corporate and
business strategy and planning for the members of the Company Group and their
respective subsidiaries, including plans and programs for improving operating,
marketing and financial

 

2

 

performance, (ii) recruiting key management
employees, (iii) establishing and maintaining banking, legal and other
business relationships, (iv) arranging future debt and equity financings
and refinancings for corporate purposes and (v) providing professional
employees to serve as directors or officers of the members of the Company Group
and their respective subsidiaries.

 

(b)          
Transaction Services.  In addition to, and without duplication of,
the Initial Services and the Consulting Services, CD&R hereby agrees,
during the term of this Agreement, to provide the members of the Company Group
and their respective subsidiaries with financial, investment banking,
management advisory and other services with respect to proposed transactions,
including, without limitation, any proposed acquisition, merger, full or
partial recapitalization, structural reorganization (including any divestiture
of one or more subsidiaries or operating divisions of any member of the Company
Group), reorganization of the shareholdings or other ownership structure of any
member of the Company Group or any other similar transaction (each, a “Transaction”)
directly or indirectly involving any of the members of the Company Group or any
of their respective subsidiaries (collectively, the “Transaction Services”).

 

3. 
Compensation; Reimbursement of Expenses.

 

(a)           
Compensation for Initial Services.  As compensation for the Initial
Services, immediately following the consummation of the Acquisition,
AcquisitionCo, on behalf of itself and the other members of the Company Group,
shall pay CD&R a fee of $18,000,000.

 

(b)          
Compensation for Consulting Services.  As compensation for the
Consulting Services, MergerCo, on behalf of itself and the other members of the
Company Group, shall pay CD&R a fee of $1,500,000 per year (the “Consulting
Fee”), one quarter of which shall be payable quarterly in advance on the
first day of each January, April, July and October (each, a “Consulting
Services Payment Date”).  The Consulting Fee shall begin accruing
immediately following the consummation of the Acquisition, and the amount of
the Consulting Fee accrued prior to the next succeeding Consulting Services
Payment Date shall be payable on such Consulting Services Payment Date,
together with the regular installment of the Consulting Fee payable on such
Consulting Services Payment Date.  The Consulting Fee may be increased
with the approval of a majority of the members of the Board of Directors of
Investors who are not employees of Investors, CD&R or any of their
respective subsidiaries and Affiliates (the “Disinterested Directors”),
but may not be decreased without the prior written consent of CD&R. 
If an employee of CD&R or any of its subsidiaries or Affiliates is elected
to serve on the Board of Directors of Investors or any of its subsidiaries (a “Designated
Director”), CD&R shall cause such Designated Director to waive any and
all director's fees to which he or she otherwise would be entitled for any

 

3

 

period for which the Consulting Fee (or an installment
thereof) is paid and for which such Designated Director continues to be
employed by CD&R or any of its subsidiaries or Affiliates.  If, on the
other hand, an employee of CD&R or any of its subsidiaries or Affiliates is
appointed to an executive management position (or a position of comparable
responsibility) with Investors or any of its subsidiaries, whether in addition to
or other than as a Designated Director, then, for the period of such employee's
service in such position, the Consulting Fee shall be increased by an amount to
be reasonably determined by CD&R, such amount not to exceed 100% of the
Consulting Fee then in effect.  For purposes of this Agreement, “Affiliate”
shall mean, with respect to any person or entity, any other person or entity
directly or indirectly controlling, controlled by or under common control with,
such person or entity.

 

(c)           
Compensation for Transaction Services.  As compensation for the
Transaction Services, and subject to the second sentence of this paragraph (c),
in connection with each Transaction that is consummated, MergerCo, on behalf of
itself and the other members of the Company Group (subject to the provisions of
Section 3(e)), shall pay CD&R a fee (a “Transaction Fee”) equal to
1.0% of the Transaction Value of such Transaction, or such lesser amount as
CD&R and MergerCo, on behalf of itself and the other members of the Company
Group, may agree.  The members of the Company Group may agree to pay a
Transaction Fee in excess of 1.0% of the Transaction Value of a Transaction,
but only with the approval of a majority of the Disinterested Directors. 
As used herein, “Transaction Value” means the total value of the
applicable Transaction, including, without limitation, the aggregate amount of
the cash funds and the aggregate value of the other securities or obligations
required to complete such Transaction (excluding any fees payable pursuant to
this paragraph (c)), including any indebtedness, guarantees, capital stock or
similar items issued or made to facilitate, and the amount of any revolving
credit or other liquidity facilities or arrangements established in connection
with, such Transaction or assumed, refinanced or left outstanding in connection
with or immediately following such Transaction.  For purposes of
calculating a Transaction Fee, the value of any securities included in the
Transaction Value will be determined by the average of the last sales prices
for such securities on the five trading days ending five days prior to the
consummation of the applicable Transaction, provided that if such
securities do not have an existing public trading market, the value of the
securities shall be their fair market value as mutually agreed between CD&R
and MergerCo, on behalf of itself and the other members of the Company Group,
on the day prior to consummation of such Transaction.  For the avoidance
of doubt, (i) CD&R may not charge, and the Company Group shall not
be obligated to pay, any Transaction Fee (or portion thereof) that it is not
permitted to be paid under the Amended and Restated Limited Partnership
Agreement of the CD&R Fund, as amended, restated, waived or otherwise modified
from time to time, and (ii) no Transaction Fee shall be payable to
CD&R in respect of the Initial Services.

 

4

 

(d)         
Reimbursement of Expenses.  MergerCo, on behalf of itself and the
other members of the Company Group (subject to the provisions of Section 3(e))
shall reimburse CD&R for such reasonable travel and other out-of-pocket
expenses (“Expenses”) as may be incurred by CD&R and its
subsidiaries and Affiliates and its and their respective employees and agents
in the course or on account of rendering any services under this Agreement
(including the Initial Services), including but not limited to any applicable
fees and expenses of any legal, accounting or other professional advisors to CD&R
and its subsidiaries and Affiliates and any expenses incurred by any Designated
Director in connection with the performance of his or her duties to any member
of the Company Group.  CD&R may submit monthly expense statements to
such member of the Company Group, which statements shall be payable within
thirty days.

 

(e)         
Obligations Joint and Several; Payment Obligations for Certain Transaction
Fees and Expenses.  The obligations of the Company Group under this
Section 3 shall be borne jointly and severally by the members of the Company
Group and their respective subsidiaries, provided that none of Holdings,
AcquisitionCo, MergerCo or any of their respective subsidiaries shall be
obligated to pay (i) any Transaction Fee or Expense incurred in
connection with any Transaction solely involving Investors or any of its
subsidiaries, other than Holdings, AcquisitionCo, MergerCo or any of their
respective subsidiaries, and (ii) more than its reasonably proportional
share, as determined by CD&R in its reasonable discretion, of any
Transaction Fee or Expense incurred in connection with any Transaction
involving any subsidiaries of Investors, other than Holdings, AcquisitionCo,
MergerCo or any of their respective subsidiaries, on the one hand, and
Holdings, AcquisitionCo, MergerCo or any of their respective subsidiaries, on
the other hand.  Investors, on behalf of itself and its subsidiaries other
than Holdings, AcquistionCo, MergerCo and their respective subsidiaries, shall
pay CD&R any Transaction Fee or Expense or portion thereof that none of
Holdings, AcquisitionCo, MergerCo or any of their respective subsidiaries is
obligated to pay because of the provisions of the foregoing proviso.

 

4.            
Term, etc.  (a) This Agreement shall be in effect until, and shall
terminate upon, the earlier to occur of (i) the tenth anniversary of the
date of hereof and (ii) the date on which the CD&R Fund (or any
other investment fund managed by CD&R) no longer owns, directly or
indirectly, any shares of the capital stock of Investors or any successor
company, and may be earlier terminated by Investors or CD&R upon thirty
days' prior written notice to the other party.  The provisions of this
Agreement shall survive any termination hereof, provided that,
notwithstanding the foregoing, Sections 1 and 2 shall not survive any
termination hereof and provided, further, that Section 3 shall
survive any termination hereof solely as to any portion of any Consulting Fee,
Transaction Fee or Expense not paid or reimbursed prior to such termination and
not required to be paid or reimbursed thereafter pursuant to Section 4(c).

 

5

 

(b)          
Upon any consolidation or merger of any member of the Company Group, or any
conveyance, transfer or lease of all or substantially all of the assets of any
member of the Company Group, whether in connection with the Restructuring or
otherwise, the entity formed by such consolidation, or into which such member
of the Company Group is merged or to which such conveyance, transfer or lease
is made (each, a “Successor Entity”), shall succeed to and be
substituted for such member of the Company Group under this Agreement with the
same effect as if the Successor Entity had been a party hereto.  Subject
to Section 4(a)(ii), no such consolidation, merger or conveyance, transfer or
lease shall have the effect of terminating this Agreement or of releasing any
member of the Company Group or any Successor Entity from its obligations
hereunder.

 

(c)          
Upon any termination of this Agreement, each member of the Company Group,
jointly and severally, agrees immediately to pay or reimburse, as the case may
be, any accrued and unpaid installment of the Consulting Fee or portion thereof
(pro rated, with respect to the month in which such termination occurs, for the
portion of such month that precedes such termination), and (subject to the
provisions of Section 3(e)) any accrued and unpaid Transaction Fee or portion
thereof and any unpaid and unreimbursed Expenses that shall have been incurred
prior to such termination (whether or not such Expenses shall then have become
payable).  In the event of the liquidation of any member of the Company
Group, all amounts due CD&R under this Agreement shall be paid to CD&R
before any liquidating distributions or similar payments are made to
stockholders of such member of the Company Group.

 

5.            
Information.  The members of the Company Group will use their
respective best efforts to furnish, or to cause their respective subsidiaries
and agents to furnish, CD&R with such information (the “Information”)
as CD&R reasonably believes appropriate to its engagement hereunder. 
Each member of the Company Group acknowledges and agrees that (a)
CD&R will rely on the Information and on information available from
generally recognized public sources in performing the Consulting Services and
the Transaction Services and (b) CD&R does not assume responsibility
for the accuracy or completeness of the Information and such other information.

 

6.            
Independent Contractor Status.  The parties acknowledge and agree
that CD&R has performed the Initial Services, and shall perform the
Consulting Services and the Transaction Services, as an independent contractor,
retaining control over and responsibility for its own operations and personnel
and those of its subsidiaries.  Each member of the Company Group further
acknowledges and agrees that CD&R may, in its sole discretion, remove or
substitute any of the members of, or add members to, the team of professional
employees of CD&R and its subsidiaries that will be providing services
pursuant to this Agreement, and that any such removal, substitution or addition
shall not in any way modify or affect any of the obligations of any member of
the Company Group hereunder, including, without limitation, its obligation to
pay the any fee or reimburse any Expense.  None of CD&R and its
subsidiaries and Affiliates and its and their respective employees and agents
shall, solely by virtue of this Agreement or the

 

6

 

arrangements hereunder,
be considered employees or agents of any member of the Company Group or any of
their respective Affiliates, nor shall any of them have authority hereunder to
contract in the name of or bind any member of the Company Group or any of their
respective Affiliates, except (i) to the extent that any professional
employee of CD&R or any of its subsidiaries may be serving as a director or
an officer of such member of the Company Group or (ii) as expressly
agreed to in writing by such member of the Company Group.  Any duties of
CD&R arising out of its engagement to perform services hereunder shall be
owed solely to the members of the Company Group.

 

7.            
Entire Agreement; No Representations or Warranties.  This Agreement
and the Indemnification Agreement (a) contain the complete and entire
understanding and agreement between CD&R and the Company Group with respect
to the subject matter hereof and (b) supersede all prior and contemporaneous
understandings, conditions and agreements, whether written or oral, express or
implied, in respect of the subject matter hereof.  Each member of the
Company Group acknowledges and agrees that CD&R makes no representations or
warranties in connection with this Agreement or its provision of the Initial
Services, the Consulting Services and the Transaction Services.

 

8.            
Counterparts; Amendments and Waivers.  This Agreement may be
executed in any number of counterparts, each of which shall be deemed an
original and which together shall constitute one agreement.  This
Agreement may not be amended, restated, supplemented or otherwise modified, and
no provision of this Agreement may be waived, other than in a writing duly
executed by the parties hereto and approved by a majority of the Disinterested
Directors.

 

9.            
Binding Effect; Assignment.  This Agreement shall be binding upon
and inure to the benefit of the parties to this Agreement and their respective
successors and assigns; provided, that neither this Agreement nor any
right, interest or obligation hereunder may be assigned by either party,
whether by operation of law or otherwise, without the express written consent
of the other party hereto; and provided, further, that any such
assignment in connection with the Restructuring shall be expressly permitted
hereunder and shall not require the prior written consent of CD&R. 
This Agreement is not intended to confer any right or remedy hereunder upon any
person or entity other than the parties to this Agreement and their respective
successors and assigns.

 

10.          
Governing Law; Jurisdiction; Waiver of Jury Trial.  THIS AGREEMENT
SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF
THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS TO THE
EXTENT THAT SUCH PRINCIPLES WOULD REQUIRE OR PERMIT THE APPLICATION OF THE LAWS
OF ANOTHER JURISDICTION.  Each of the parties hereto irrevocably and
unconditionally (a) agrees that any legal suit, action or proceeding
brought by any party hereto arising out of or based upon this Agreement or the
transactions contemplated hereby may be brought in any court of the State of
New York or Federal District Court

 

7

 

for the Southern District
of New York located in the City, County and State of New York (each, a “New
York Court”), (b) waives, to the fullest extent that it may
effectively do so, any objection that it may now or hereafter have to the laying
of venue of any such proceeding brought in a New York Court, and any claim that
any such action or proceeding brought in a New York Court has been brought in
an inconvenient forum, (c) submits to the non-exclusive jurisdiction of
any New York Court in any suit, action or proceeding and (d)
ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY THAT MAY ARISE UNDER THIS
AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE
HEREBY WAIVES ANY RIGHT THAT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT
OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS
AGREEMENT, OR THE BREACH, TERMINATION OR VALIDITY OF THIS AGREEMENT.  With
respect to clause (d) of the immediately preceding sentence, each of the
parties hereto acknowledges and certifies that (i) no representative,
agent or attorney of any other party has represented, expressly or otherwise,
that such other party would not, in the event of litigation, seek to enforce
the waiver contained therein, (ii) it understands and has considered the
implications of such waiver, (iii) it makes such waiver voluntarily and
(iv) it has been induced to enter into this Agreement by, among other
things, the mutual waivers and certifications contained in this Section 10.

 

8

 

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

 

	
   

  	
  CLAYTON, DUBILIER &
  RICE, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
    /s/ THERESA
  A. GORE

  	
   

  
	
   

  	
   

  	
  Name: Theresa A. Gore

  
	
   

  	
   

  	
  Title: Vice President
  and Secretary

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CDRV INVESTORS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
    /s/ THERESA
  A. GORE

  	
   

  
	
   

  	
   

  	
  Name: Theresa A. Gore

  
	
   

  	
   

  	
  Title: Vice President
  and Secretary

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CDRV HOLDINGS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
    /s/ GEORGE
  K. JAQUETTE

  	
   

  
	
   

  	
   

  	
  Name: George K.
  Jaquette

  
	
   

  	
   

  	
  Title: Vice President
  and Treasurer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CDRV ACQUISITION
  CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
    /s/ GEORGE
  K. JAQUETTE

  	
   

  
	
   

  	
   

  	
  Name: George K.
  Jaquette

  
	
   

  	
   

  	
  Title: Vice President
  and Treasurer

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

 

	
   

  	
  CDRV DELAWARE, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
    /s/ THERESA
  A. GORE

  	
   

  
	
   

  	
   

  	
  Name: Theresa A. Gore

  
	
   

  	
   

  	
  Title: Vice President
  and Secretary

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