Document:

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                                                                   EXHIBIT 10.12

                                                          (BLUE NILE LETTERHEAD)

July 22, 2003

Ms. Terri Maupin
11524 Durland Avenue NE
Seattle, WA 98125

Dear Terri,

On behalf of Blue Nile, Inc. (the "COMPANY"), I am pleased to offer you the
position of Controller reporting to the Chief Financial Officer. The terms of
your relationship with the Company will be as indicated herein.

1.    Position. You will become the Controller for the Company. As such, you
      will have responsibilities as determined by the Chief Financial Officer.
      The Company may change your position, duties and work location from time
      to time as it deems necessary.

2.    Base Salary. You will be paid a monthly salary of $10,000 less payroll
      deductions and all required withholdings, which represents an annualized
      rate of $120,000. Your wage will be payable in accordance with the
      Company's standard payroll policies. The Company may modify your
      compensation from time to time as it deems necessary.

3.    Stock Options. We will recommend to the Board of Directors that you be
      granted an incentive stock option to purchase 50,000 shares of common
      stock of the Company. The exercise price will be the fair market value of
      the common stock as determined by the Board of Directors on the date of
      grant. One fourth (1/4) of the shares subject to such option will vest on
      the first year anniversary of your hire date and one forty-eighth (1/48)
      of the shares subject to such option will vest each month thereafter as
      long as your employment continues with the Company. The Company's 1999
      Equity Incentive Plan, the Grant Notice and the Stock Option Agreement
      shall govern the terms of this option grant in all respects.

4.    Benefits. You will be eligible to receive healthcare and dental benefits,
      life and disability insurance, and a 401(k) plan effective on the first of
      the month following your date of hire. The Company may modify its benefits
      programs from time to time as it deems necessary.

5.    Standard Employee Agreement. Like all employees, you will be required to
      abide by the Company's rules and regulations, and to sign the Company's
      standard Employee Proprietary Information and Inventions Agreement
      relating to the protection of the Company's proprietary and confidential
      information and assignment of inventions. In addition, you will be
      required to abide by the Company's strict policy that prohibits any new
      employee from using or bringing with him or her from any previous employer
      any confidential information, trade secrets, or proprietary materials or
      processes of such former employer.

6.    Federal Immigration Law. For purposes of federal immigration law, you will
      be required to provide to the Company documentary evidence of your
      identity and eligibility for employment in the United States. Such
      documentation must be provided to us within three (3) business days of
      your date of hire, or our employment relationship with you may be
      terminated.

7.    At-Will Employment. Your employment is at will, as defined under
      applicable law. This means you may voluntarily quit at any time, for any
      reason or for no reason, simply by notifying the Company. Likewise, the
      Company may terminate your employment at any time, for any reason or for
      no reason, with or without cause or advance notice. This at-will
      employment relationship cannot be changed except in a writing signed by a
      Company officer.

8.    Entire Agreement. This Agreement, together with your Employee Proprietary
      Information and Inventions Agreement, constitutes the complete and
      exclusive statement of your employment agreement with the Company. The
      employment terms in this letter supersede any other agreements or promises
      made to you by anyone, whether written or oral.

9.    Start Date. TBD

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      This Agreement is also subject to the successful completion of a
background and credit check, which is in process.

      Terri, we are extremely pleased to extend this offer to you, and we look
forward to the opportunity to work together. This offer is valid until July 28,
2003 and will terminate if not accepted by such date. Please indicate your
acceptance by signing and returning the enclosed copy of this letter.

      Very truly yours,

      BLUE NILE INC.

      /s/ Diane M. Irvine
      -------------------------------------------
      Diane M. Irvine, Chief Financial Officer

      The foregoing terms and conditions are hereby accepted:

      /s/ Terri Maupin
      -------------------------------------------
      Terri Maupin

      Dated: July 24, 2003exv10w1

 

Exhibit 10.1

Cray Inc.

2005 Executive Bonus Plan

     The 2005 Executive Bonus Plan is based 50% upon the Company’s consolidated income from
operations (before taxes, interest and foreign currency effects) and 50% on personal/functional
goals (generally as set forth as balanced scorecard goals). No bonus will be earned or paid until
income from operations is achieved inclusive of any bonus. Each participant in the 2005 Executive
Bonus Plan is assigned a percentage of the participant’s base salary as his/her target bonus, as
approved by the Compensation Committee (and the Board of Directors
with respect to the Chief Executive Officer).

     An accrual for bonuses would begin once income from operations is achieved on a cumulative
basis and would reach 100% of the target bonus at a target level of income from operations
established by the Compensation Committee. The maximum bonus of two times the target bonus would be
reached at a higher target level of income from operations also
approved by the Compensation Committee. Bonuses
would be paid on basically a straight-line interpolation between zero and 100% and from 100% to
200%, based on the level of income from operations. For purposes of calculating the income from
operations in 2005, any charge due to SFAS 123(R) stock option expense would be excluded. To the
extent there are other unplanned significant costs or charges, then the Compensation Committee
would determine what adjustments, if any, are appropriate in determining the income from operations
for purposes of determining the bonuses.

     The Chief Executive Officer, subject to final approval by the Compensation Committee, would
retain the right to pay from 0% to 125% of the bonus for each participant, provided that the Board
approves the bonus for the Chief Executive Officer.

Approved by the Compensation Committee on March 21, 2005.exv10w52

 

EXHIBIT 10.52

March 6, 2004

Mr. Wayne Smith

New South Wales, Australia

Dear Wayne,

Reading Australia and Reading New Zealand, two major subsidiaries of Reading International, Inc.,
are pleased to offer you a three (3) year contract as the Executive Director of its New Zealand and
Australia operations. This position subordinates all operations and personnel in New Zealand and
Australia to your office and you will directly report to myself as the C.E.O. and Chairman.

You will officially commence in that position on April 1, 2004, and will be officed in Melbourne.
Timing of the transfer from Sydney to Melbourne will be mutually agreed upon.

Your annual compensation shall be $A250,000 all inclusive in the first year, $A275,000 in the
second year and $A300,000 in the third year. An automobile expense allowance of $A20,000 is
optional at your election. In addition, you will be entitled to the opportunity to earn a bonus of
$A50,000 a year. Economic targets and goals will be set in the first 60 days beginning each April
1 by the Reading International Board and yourself. Naturally, the Board, in its discretion,
reserves the right to award an additional bonus should the particular circumstances so warrant.

Shall the Reading International Board determine that your services are not meeting the standards of
anticipated performance, your executive agreement may be immediately terminated and you will be
entitled to six (6) months salary.

In the event that you or Reading should determine in the next 3 weeks that certain additional
provisions be added to this agreement, without such provisions altering or modifying the
aforementioned salient terms, we agree to accommodate each other.

Sincerely,

/s/ James J. Cotter

Acknowledged and agreed to:

/s/ Wayne D. Smithexv10w5

 

Exhibit 10.5

THE HILLMAN COMPANIES, INC.

AMENDED AND RESTATED

2004 STOCK OPTION PLAN

ARTICLE I

Purpose of Plan

          The Amended and Restated 2004 Stock Option Plan (the “Plan”) of The Hillman Companies,
Inc., a Delaware corporation (the “Company”), adopted by the Board and approved by the
stockholders of the Company on December ___, 2004, for directors, executives and other key employees
of the Company and its subsidiaries, is intended to advance the best interests of the Company and
its subsidiaries by providing those persons who have a substantial responsibility for its
management and/or growth with additional incentives by allowing them to acquire an ownership
interest in the Company and thereby encouraging them to contribute to the success of the Company
and its subsidiaries and to remain in their employ or continue to provide such services. The
availability and offering of stock options under the Plan also increases the Company’s and its
subsidiaries’ ability to attract and retain individuals of exceptional talent upon whom, in large
measure, the sustained progress, growth and profitability of the Company and its subsidiaries
depends.

          All options granted under the Plan are intended to qualify for an exemption (the
“Exemptions”) from the registration requirements (i) under the Securities Act of 1933, as amended (the “Act”), pursuant to Rule
701 of the Act and (ii) under applicable state securities laws. In the event that any provision of
the Plan would cause any options granted under the Plan to not qualify for any Exemptions, the Plan
shall be deemed automatically amended to the extent necessary to cause all options granted under
the Plan to qualify for such Exemptions.

          This Plan amends and restates the 2004 Stock Option Plan adopted and approved on March 31, 2004 in
its entirety.

ARTICLE II

Definitions

          For purposes of the Plan, except where the context clearly indicates otherwise, the following
terms shall have the meanings set forth below:

          “Affiliate” shall mean, with respect to any Person, any other Person which, directly or
indirectly, controls, is controlled by or under common control with such Person.

          “Board” shall mean the board of directors of the Company.

          “Cause” shall have the meaning assigned to such term in any Participant’s written Executive
Securities Agreement or, in the absence of any such written Executive Securities Agreement, shall
mean (i) a material breach by a Participant of this Plan, his Option Agreement or any employment or
noncompetition agreement to which the Participant is a party or any agreement under which the
Participant provides services as a director, as the case may be, (ii) the

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Participant’s failure to
adhere to any written policy of the Company or any of its subsidiaries if the Participant has been
given a reasonable opportunity to comply with such policy or to cure his failure to comply, (iii)
the appropriation (or attempted appropriation) of a material business opportunity of the Company or
any of its subsidiaries, including attempting to secure or securing any personal profit in
connection with any transaction entered into on behalf of the Company or any of its subsidiaries,
(iv) the misappropriation (or attempted misappropriation) of any of the Company’s or any of its
subsidiaries’ funds or property, (v) the conviction of, the indictment for (or its procedural
equivalent), or the entering of a guilty plea or plea of no contest with respect to, a felony, the
equivalent thereof, or any other crime with respect to which imprisonment is a possible punishment,
(vi) any act or acts of disloyalty, misconduct or moral turpitude by the Participant injurious to
the interest, property, operations, business or reputation of the Company or any of its
subsidiaries or (vii) the Participant’s failure or inability (other than by reason of the
Participant’s Disability) to carry out effectively the Participant’s duties and obligations to the
Company or any of its subsidiaries or, if such Participant is an employee of the Company or any of
its subsidiaries, to participate effectively and actively in the management of the Company or any
of its subsidiaries, as determined in the reasonable judgment of the Board.

          “Class B Common Stock” shall mean the Company’s Class B Common Stock, par value $0.01 per
share, or if the outstanding Class B Common Stock is hereafter changed into or exchanged for
different stock or securities of the Company, such other stock or securities.

          “Code” shall mean the Internal Revenue Code of 1986, as amended, and any successor statute.

          “Committee” shall mean the compensation committee of the Board. The Committee shall be
composed of two or more directors as appointed from time to time to serve by the Board.

          “Disability” shall have the meaning assigned to such term in any Participant’s written
Executive Securities Agreement or, in the absence of any such written Executive Securities
Agreement, shall mean the inability, due to illness, accident, injury, physical or mental
incapacity or other disability, of any Participant to carry out effectively his duties and
obligations to the Company or any of its subsidiaries or, if such Participant is an employee of the
Company or any of its subsidiaries, to participate effectively and actively in the management of
the Company or any of its subsidiaries for, a period of at least 90 consecutive days or for shorter
periods aggregating at least 120 days (whether or not consecutive) during any twelve-month period,
as determined in the reasonable judgment of the Board.

          “Executive Securities Agreement” shall mean any Executive Securities Agreement entered into
on March 31, 2004 between the Company and a Participant.

          “Fair Market Value” of the Class B Common Stock shall be determined by the Committee or, in
the absence of the Committee, by the Board.

          “Good Reason” shall have the meaning assigned to such term in any Participant’s written
Executive Securities Agreement or, if the Participant is an employee of the Company or any of its
subsidiaries and has not entered into an Executive Securities Agreement, shall mean if the
Participant resigns from employment with the Company and its Subsidiaries as a result of

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one or more of the following reasons: (i) the Company reduces his responsibilities in a manner materially
inconsistent with the positions he holds or (ii) the Company changes his place of work to a
location more than 75 miles from his present place of work; provided that, the Participant must
give written notice to the Company of his objection to any such act within 10 days of such act and
such act shall not be deemed to constitute Good Reason if it is of such a nature that substantially
all detriment otherwise resulting to the Participant can be cured by appropriate action which the
Company causes to be taken within 30 days following written notice from the Participant.

          “Investors” shall have the meaning set forth in the Stockholders Agreement.

          “Options” shall have the meaning set forth in Article IV.

          “Participant” shall mean any director, executive or other key employee of the Company or
any of its subsidiaries who has been selected to participate in the Plan by the Committee or the
Board.

          “Person” means an individual, a partnership, a corporation, a limited liability company, an
association, a joint stock company, a trust, a joint venture, an unincorporated organization and a
governmental entity or any department, agency or political subdivision thereof.

          “Public Offering” shall mean a public offering and sale, registered under the 1933 Act, of
shares of the Company’s common stock.

          “Sale of the Company” shall mean any transaction or series of transactions pursuant to
which any Person(s) or a group of related Persons (other than the Investors and their Affiliates)
in the aggregate acquire(s) (i) capital stock of the Company possessing the voting power (other than voting rights accruing only in the event of a default,
breach, event of noncompliance or other contingency) to elect a majority of the Board (whether by
merger, consolidation, reorganization, combination, sale or transfer of the Company’s capital
stock, shareholder or voting agreement, proxy, power of attorney or otherwise) or (ii) all or
substantially all of the Company’s assets determined on a consolidated basis; provided,
that a Sale of the Company shall not include a Public Offering.

          “Stockholders Agreement” shall mean the Stockholders Agreement, dated as of March 31, 2004,
by and among the Company and certain of its stockholders, as amended from time to time in
accordance with its terms.

ARTICLE III

Administration

          The Plan shall be administered by the Committee; provided that if for any reason the Committee
shall not have been appointed by the Board, all authority and duties of the Committee under the
Plan shall be vested in and exercised by the Board. Subject to the limitations of the Plan, the
Committee shall have the sole and complete authority to: (i) select Participants, (ii) grant
Options to Participants in such forms and amounts as it shall determine,

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(iii) impose such
limitations, restrictions and conditions upon such Options as it shall deem appropriate, (iv)
interpret the Plan and adopt, amend and rescind administrative guidelines and other rules and
regulations relating to the Plan, (v) correct any defect or omission or reconcile any inconsistency
in the Plan or in any Option granted hereunder and (vi) make all other determinations and take all
other actions necessary or advisable for the implementation and administration of the Plan;
provided, that in making determinations under the Plan, with respect to Participants who are
executives or employees of the Company or any of its subsidiaries, the Committee shall take into
consideration the recommendations of the Company’s chief executive officer. The Committee’s
determinations on matters within its authority shall be conclusive and binding upon the
Participants, the Company and all other Persons. All expenses associated with the administration
of the Plan shall be borne by the Company. The Committee may, as approved by the Board and to the
extent permissible by law, delegate any of its authority hereunder to such persons as it deems
appropriate.

ARTICLE IV

Limitation on Aggregate Shares

          The number of shares of Class B Common Stock with respect to which options may be granted
under the Plan (the “Options”) and which may be issued upon the exercise thereof shall not
exceed, in the aggregate, 356.41 shares; provided that the type and the aggregate number of shares
which may be subject to Options shall be subject to adjustment in accordance with the provisions of
Section 6.8 below, and further provided that to the extent any Options expire unexercised or are
canceled, terminated or forfeited in any manner without the issuance of Class B Common Stock
thereunder, or if any Options are exercised and the shares of Class B Common Stock issued
thereunder are repurchased by the Company, such shares shall again be available under the Plan. The 356.41 shares of Class B Common Stock available under the
Plan may be either authorized and unissued shares, treasury shares or a combination thereof, as the
Committee shall determine.

ARTICLE V

Awards

          5.1 Options. The Committee may grant Options to Participants in accordance with this
Article V.

          5.2 Form of Option. Options granted under this Plan shall be nonqualified stock options
and are not intended to be “incentive stock options” within the meaning of Section 422 of
the Code or any successor provision.

          5.3 Exercise Price. The option exercise price per share of Class B Common Stock shall be
fixed by the Committee.

          5.4 Exercisability. Options shall be exercisable at such time or times as the Committee
shall determine at or subsequent to grant; provided that any Options granted hereunder to
executives or other employees of the Company or any of its subsidiaries shall fully vest and become
exercisable on the second anniversary of the date of grant, but only if the

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applicable Participant
is still employed by the Company or any of its subsidiaries as of such anniversary.

          5.5 Payment of Exercise Price. Options shall be exercised in whole or in part by written
notice to the Company (to the attention of the Company’s Secretary) accompanied by payment in full
of the option exercise price. Payment of the option exercise price shall be made in cash
(including check, bank draft or money order).

          5.6 Terms of Options. The Committee shall determine the term of each Option, which term
shall in no event exceed ten years from the date of grant.

          5.7 Annual Limitation on Grant of Options. Unless otherwise consented to by the Board, the
aggregate number of shares of Class B Common Stock for which Options may be granted by the
Committee in any calendar year shall not exceed 20% of the shares of Class B Common Stock reserved
under Article IV of the Plan.

ARTICLE VI

General Provisions

          6.1 Conditions and Limitations on Exercise. Subject to Section 5.4 hereof,
Options may be made exercisable in one or more installments, upon the happening of certain events,
upon the passage of a specified period of time, upon the fulfillment of certain conditions or upon
the achievement by the Company or any of its subsidiaries of certain performance goals, as the
Committee shall decide in each case when the Options are granted.

          6.2 Sale of the Company. In the event of a Sale of the Company, the Committee may
terminate (i) any vested Options without payment of any kind provided that each Participant shall
first be given notice of such termination and at least 15 days to exercise all vested Options that
are to be so terminated or (ii) any vested Options for a payment of (x) cash and/or (y)
consideration in the same form as that received by the holders of the Company’s Common Stock in
connection with such Sale of the Company, equal to the excess of the Fair
Market Value per share of Class B Common Stock (measured as of the date of such Sale of the
Company) over such Option’s exercise price multiplied by the number of Options to be terminated or
(iii) any Option without payment of any kind that on the date of such Sale of the Company (x) is
not vested or (y) has a Fair Market Value less than or equal to the aggregate exercise price of
such Option. In the event of a Sale of the Company, the Committee shall immediately vest any
unvested Options, causing such Options to become immediately exercisable, but only if a Participant
is employed by, or providing services to, the Company or any of its subsidiaries as of the date of
such Sale of the Company.

          6.3 Written Agreement. Each Option granted hereunder to a Participant shall be embodied in
a written agreement (an “Option Agreement”) which shall be signed by the Participant and by
the President of the Company for and in the name and on behalf of the Company and shall be subject
to the terms and conditions of the Plan prescribed in the Option Agreement (including, but not
limited to, (i) the right of the Company and such other Persons as the Committee shall designate
(“Designees”) to repurchase from each Participant, and such Participant’s transferees, all
shares of Class B Common Stock issued or issuable to such

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Participant on the exercise of an Option,
in the event of such Participant’s termination of employment or services, (ii) rights of first
refusal granted to the Company and Designees, (iii) holdback and other registration right
restrictions in the event of a public registration of any equity securities of the Company and (iv)
any other terms and conditions which the Committee shall deem necessary and desirable).

          6.4 Listing, Registration and Compliance with Laws and Regulations. Options shall be
subject to the requirement that if at any time the Committee shall determine, in its discretion,
that the listing, registration or qualification of the shares subject to the Options upon any
securities exchange or under any state or federal securities or other law or regulation, or the
consent or approval of any governmental regulatory body, is necessary or desirable as a condition
to or in connection with the granting of the Options or the issuance or purchase of shares
thereunder, no Options may be granted or exercised, in whole or in part, unless such listing,
registration, qualification, consent or approval shall have been effected or obtained free of any
conditions not acceptable to the Committee. The holders of such Options shall supply the Company
with such certificates, representations and information as the Company shall request and shall
otherwise cooperate with the Company in obtaining such listing, registration, qualification,
consent or approval. In the case of officers and other Persons subject to Section 16(b) of the
Securities Exchange Act of 1934, as amended, the Committee may at any time impose any limitations
upon the exercise of an Option that, in the Committee’s discretion, are necessary or desirable in
order to comply with such Section 16(b) and the rules and regulations thereunder. If the Company,
as part of an offering of securities or otherwise, finds it desirable because of federal or state
regulatory requirements to reduce the period during which any Options may be exercised, the
Committee, may, in its discretion and without the Participant’s consent, so reduce such period on
not less than 15 days written notice to the holders thereof.

          6.5 Nontransferability. Options may not be transferred other than by will or the laws of
descent and distribution and, during the lifetime of the Participant, may be exercised only by such
Participant (or his legal guardian or legal representative). In the event of the death of a
Participant, exercise of Options granted hereunder shall be made only:

          (i) by the executor or administrator of the estate of the deceased Participant or
the Person or Persons to whom the deceased Participant’s rights under the Option shall pass
by will or the laws of descent and distribution; and

          (ii) to the extent that the deceased Participant was entitled thereto at the date of his
death, unless otherwise provided by the Committee in such Participant’s Option Agreement.

          6.6 Expiration of Options.

          (a) Normal Expiration. In no event shall any part of any Option be exercisable after the
date of expiration thereof (the “Expiration Date”), as determined by the Committee pursuant
to Section 5.6 above.

          (b) Early Expiration Upon Termination of Employment or Services. Except as otherwise
provided by the Committee in the Option Agreement, any portion of a Participant’s Option that was
not vested and exercisable on the date of the termination of such Participant’s

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employment or services shall expire and be forfeited as of such date, and any portion of a Participant’s Option that was vested and exercisable on the date of the termination of such Participant’s employment or
services shall expire and be forfeited as of such date, except that the Option Agreement may delay
such expiration for such period as the Committee determines.

6.7 Withholding of Taxes. The Company shall be entitled, if necessary or desirable, to
withhold from any Participant from any amounts due and payable by the Company or any of its
subsidiaries to such Participant (or secure payment from such Participant in lieu of withholding)
the amount of any withholding or other tax due from the Company with respect to any shares issuable
under the Options, and the Company may defer such issuance unless indemnified to its satisfaction.

6.8 Adjustments. In the event of a reorganization, recapitalization, stock dividend or
stock split, or combination or other change in the shares of Class B Common Stock, the Board or the
Committee may, in order to prevent the dilution or enlargement of rights under outstanding Options,
make such adjustments in the number and type of shares authorized by the Plan, the number and type
of shares covered by outstanding Options and the exercise prices specified therein as may be
determined to be appropriate and equitable. The issuance by the Company of shares of stock of any
class, or options or securities exercisable or convertible into shares of stock of any class, for
cash or property, or for labor or services either upon direct sale, or upon the exercise of rights
or warrants to subscribe therefor, or upon exercise or conversion of other securities, shall not
affect, and no adjustment by reason thereof shall be made with respect to, the number or price of
shares of Class B Common Stock then subject to any Options.

6.9 Right of Participants. Nothing in this Plan shall interfere with or limit in any way
the right of the Company or any of its subsidiaries to terminate any Participant’s employment or
services which a Participant provides to the Company at any time (with or without Cause), nor
confer upon any Participant any right to continue in the employ of or to provide services to the Company or any
of its subsidiaries for any period of time or to continue his present (or any other) rate of
compensation or other remuneration, and except as otherwise provided under this Plan or by the
Committee in the Option Agreement, in the event of any Participant’s termination of employment or
services (including, but not limited to, the termination by the Company or any of its subsidiaries
without Cause) any portion of such Participant’s Option that was not previously vested and
exercisable shall expire and be forfeited as of the date of such termination. No employee or
director shall have a right to be selected as a Participant or, having been so selected, to be
selected again as a Participant.

6.10 Amendment, Suspension and Termination of Plan. The Board or the Committee may suspend
or terminate the Plan or any portion thereof at any time and may amend it from time to time in such
respects as the Board or the Committee may deem advisable; provided that no such amendment shall be
made without stockholder approval to the extent such approval is required by law, agreement or the
rules of any exchange upon which the Common Stock is listed, and no such amendment, suspension or
termination shall impair the rights of Participants under outstanding Options without the consent
of the Participants affected thereby; provided, further, that no amendment that increases the
maximum number of shares of Class B Common Stock with respect to which Options may be granted and
which may be issued upon the exercise thereof shall be effective without the approval of Code
Hennessy & Simmons IV LP and, for so long as Ontario Teachers’ Pension Plan Board, an Ontario
corporation (“Teachers”),

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owns Stockholder Shares (as defined in the Stockholders Agreement) and shares of Investment Company Preferred Stock (as defined in the Stockholders
Agreement) with an aggregate Original Cost (as defined in the Stockholders Agreement) to Teachers
of at least $25,000,000, Teachers.

6.11 Amendment, Modification and Cancellation of Outstanding Options. The Committee may
amend or modify any Option in any manner to the extent that the Committee would have had the
authority under the Plan initially to grant such Option; provided that no such amendment or
modification shall impair the rights of any Participant under any Option without the consent of
such Participant. With the Participant’s consent, the Committee may cancel any Option and issue a
new Option to such Participant.

6.12 Indemnification. In addition to such other rights of indemnification as they may have
as members of the Board or the Committee, the members of the Board and the Committee shall be
indemnified by the Company against all costs and expenses reasonably incurred by them in connection
with any action, suit or proceeding to which they or any of them may be party by reason of any
action taken or failure to act under or in connection with the Plan or any Option granted
hereunder, and against all amounts paid by them in settlement thereof (provided such settlement is
approved by independent legal counsel selected by the Company) or paid by them in satisfaction of a
judgment in any such action, suit or proceeding; provided that any such Board or Committee member
shall be entitled to the indemnification rights set forth in this Section 6.12 only if such member
has acted in good faith and in a manner that such member reasonably believed to be in or not
opposed to the best interests of the Company and, with respect to any criminal action or proceeding, had no reasonable cause to believe that such conduct
was unlawful, and further provided that upon the institution of any such action, suit or proceeding
a Board or Committee member shall give the Company written notice thereof and an opportunity, at
its own expense, to handle and defend the same before such Board or Committee member undertakes to
handle and defend it on his own behalf.

* * * *

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