Document:

Registration Rights Agreement

 Exhibit 4.2 
  

 REGISTRATION RIGHTS AGREEMENT 
  
 Dated as of November 17, 2004 
  
 Among 
  
 FLEXTRONICS INTERNATIONAL LTD. 
  
 as Issuer 
  
 and 
  
 CREDIT
SUISSE FIRST BOSTON LLC 
 and 
 DEUTSCHE BANK SECURITIES INC. 
 and 
 BANC OF AMERICA SECURITIES LLC 
 and 
 CITIGROUP GLOBAL MARKETS INC. 
 and 
 LEHMAN BROTHERS INC. 
 and 
 BNP PARIBAS SECURITIES CORP. 
 and 

MCDONALD INVESTMENTS INC. 
 and 

RBC CAPITAL MARKETS CORPORATION 
 and

 SCOTIA CAPITAL (USA) INC. 
 and

 ABN AMRO INCORPORATED 
 and

 HSBC SECURITIES (USA) INC. 
 and

 UBS SECURITIES LLC 
  
 as Initial Purchasers 
  
  
 $500,000,000 6 1/4% Senior Subordinated Notes due 2014 
  

 REGISTRATION RIGHTS AGREEMENT 
  
 This Registration Rights Agreement (this “Agreement”) is dated as of November 17, 2004, by and among
FLEXTRONICS INTERNATIONAL LTD., a Singapore corporation (the “Company” or the “Issuer”), as Issuer, and CREDIT SUISSE FIRST BOSTON LLC, DEUTSCHE BANK SECURITIES INC., BANC OF AMERICA SECURITIES LLC, CITIGROUP GLOBAL
MARKETS INC., LEHMAN BROTHERS INC., BNP PARIBAS SECURITIES CORP., MCDONALD INVESTMENTS INC., RBC CAPITAL MARKETS CORPORATION, SCOTIA CAPITAL (USA) INC., ABN AMRO INCORPORATED, HSBC SECURITIES (USA) INC. and UBS SECURITIES LLC, as Initial Purchasers
(the “Initial Purchasers”). 
  
 This Agreement is
entered into in connection with the Purchase Agreement, dated November 9, 2004, by and among the Company and the Initial Purchasers (the “Purchase Agreement”), which provides for, among other things, the sale by the Company to the
Initial Purchasers of $500,000,000 aggregate principal amount of the Company’s 6 1/4% Senior Subordinated
Notes due 2014 (the “Notes”). In order to induce the Initial Purchasers to enter into the Purchase Agreement, the Issuer has agreed to provide the registration rights set forth in this Agreement for the benefit of the Initial
Purchasers and any subsequent holder or holders of each of the Notes. The execution and delivery of this Agreement is a condition to the Initial Purchasers’ obligation to purchase the Notes under the Purchase Agreement. 
  
 The parties hereby agree as follows: 
  
 1. Definitions 
  
 As used in this Agreement, the following terms shall have the following
meanings: 
  
 Additional Interest: See Section 4(a) hereof.

  
 Advice: See the last paragraph of Section 5 hereof.

  
 Affiliate: With respect to any specified person,
“Affiliate” shall mean any other Person which, directly or indirectly, controls or is controlled by or under direct or indirect common control with such specified person. For the purposes of this definition,
“control,” when used with respect to any person, means the power to direct the management and policies of such person, directly or indirectly whether through the ownership of voting securities, by contract or otherwise and the terms
“controlling” and “controlled” have meanings correlative to the foregoing. 
  
 Agreement: See the first introductory paragraph hereto. 
  
 Applicable Period: See Section 2(b) hereof. 
  
 Closing: The closing as defined in the Purchase Agreement. 
  

Company: See the first introductory paragraph hereto. 

 Effectiveness Date: The 150th day after the Issue Date; provided, however, that with respect to
any Shelf Registration other than a Shelf Registration if no Exchange Registration Statement has been filed, the Effectiveness Date shall be the 90th day after the applicable Registration Statement with respect thereto is filed. 
  
 Effectiveness Period: See Section 3(a) hereof. 
  
 Event Date: See Section 4(b) hereof. 
  
 Exchange Act: The Securities Exchange Act of 1934, as amended, and the
rules and regulations of the SEC promulgated thereunder. 
  
 Exchange Notes: The 6 1/4% Senior Subordinated Notes due 2014, Series B of the Company that are
identical to the Notes in all material respects, except that the provisions regarding restrictions on transfer shall be modified, as appropriate, and the issuance thereof pursuant to the Exchange Offer shall have been registered pursuant to an
effective Registration Statement in compliance with the Securities Act. 
  
 Exchange Offer: See Section 2(a) hereof. 
  
 Exchange Registration Statement: See Section 2(a) hereof. 
  
 Filing Date: (i) with respect to the Exchange Registration Statement, the 90th day after the Issue Date and (ii) with respect to any Shelf
Registration, (A) if no Exchange Registration Statement has been filed by the Issuer pursuant to this Agreement, the 90th day after the Issue Date and (B) in each other case (which may be applicable notwithstanding the consummation of the Exchange
Offer), the 180th day after the delivery of a Shelf Notice. 
  
 Holder: Any holder of a Registrable Note. 
  
 Indemnified Person: See Section 7(c) hereof. 
  
 Indemnifying Person: See Section 7(c) hereof. 
  
 Indenture: The Indenture, dated as of November 17, 2004, by and among the Issuer and J.P.Morgan Trust Company, National Association, as Trustee, pursuant to which the Notes are being issued, as the same may be amended or supplemented
from time to time in accordance with the terms thereof. 
  
 Initial Purchasers: See the first introductory paragraph hereto. 
  
 Initial Shelf Registration: See Section 3(a) hereof. 
  
 Inspectors: See Section 5(m) hereof. 
  
 Issue Date: November 17, 2004, the date of original issuance of the Notes. 
  
 Issuer: See the first introductory paragraph hereto. 
  

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 NASD: See Section 5(r) hereof. 
  
 Notes: See the second introductory paragraph hereto. 
  
 Offering Memorandum: The final offering memorandum of the Issuer dated
November 9, 2004, in respect of the offering of the Notes. 
  
 Participant: See Section 7(a) hereof. 
  
 Participating Broker-Dealer: See Section 2(b) hereof. 
  
 Person: An individual, trustee, corporation, partnership, joint stock company, trust, unincorporated association, union, business association, firm or other legal entity. 
  
 Private Exchange: See Section 2(b) hereof. 
  
 Private Exchange Notes: See Section 2(b) hereof. 
  
 Prospectus: The prospectus included in any Registration Statement (including, without limitation, any prospectus
subject to completion and a prospectus that includes any information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A promulgated under the Securities Act and any term sheet filed
pursuant to Rule 434 under the Securities Act), as amended or supplemented by any prospectus supplement, and all other amendments and supplements to the Prospectus, including post-effective amendments, and all material incorporated by reference or
deemed to be incorporated by reference in such Prospectus. 
  
 Purchase Agreement: See the second introductory paragraph hereto. 
  
 Records: See Section 5(m) hereof. 
  
 Registrable Notes: Each Note upon its original issuance and at all times subsequent thereto, each Exchange Note as to which Section 2(c)(iv) hereof is applicable upon original issuance and at all times
subsequent thereto and each Private Exchange Note upon original issuance thereof and at all times subsequent thereto, until (i) a Registration Statement (other than, with respect to any Exchange Note as to which Section 2(c)(iv) hereof is
applicable, the Exchange Offer Registration Statement) covering such Note, Exchange Note or Private Exchange Note has been declared effective by the SEC and such Note, Exchange Note or such Private Exchange Note, as the case may be, has been
disposed of in accordance with such effective Registration Statement, (ii) such Note has been exchanged pursuant to the Exchange Offer for an Exchange Note or Exchange Notes that may be resold without complying with the prospectus delivery
requirements under the Securities Act, (iii) such Note, Exchange Note or Private Exchange Note, as the case may be, ceases to be outstanding for purposes of the Indenture or (iv) such Note, Exchange Note or Private Exchange Note, as the case may be,
may be resold without restriction pursuant to Rule 144 under the Securities Act. 
  
 Registration Default: See Section 4(a) hereof. 
  

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 Registration Statement: Any registration statement of the Issuer that covers any of the Notes, the
Exchange Notes or the Private Exchange Notes, filed with the SEC under the Securities Act, including the Prospectus, amendments and supplements to such registration statement, including post-effective amendments, all exhibits, and all material
incorporated by reference or deemed to be incorporated by reference in such registration statement. 
  
 Rule 144: Rule 144 promulgated under the Securities Act, as such Rule may be amended from time to time, or any similar rule (other than Rule 144A)
or regulation hereafter adopted by the SEC providing for offers and sales of securities made in compliance therewith resulting in offers and sales by subsequent holders that are not affiliates of the issuer of such securities being free of the
registration and prospectus delivery requirements of the Securities Act. 
  
 Rule 144A: Rule 144A promulgated under the Securities Act, as such Rule may be amended from time to time, or any similar rule (other than Rule 144) or regulation hereafter adopted by the SEC. 
  
 Rule 415: Rule 415 promulgated under the Securities Act, as such Rule
may be amended from time to time, or any similar rule or regulation hereafter adopted by the SEC. 
  
 SEC: The Securities and Exchange Commission. 
  
 Securities Act: The Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated thereunder. 
  
 Shelf Notice: See Section 2(c) hereof. 
  
 Shelf Registration: See Section 3(b) hereof. 
  
 Subsequent Shelf Registration: See Section 3(b) hereof. 
  
 TIA: The Trust Indenture Act of 1939, as amended. 
  
 Trustee: The trustee under the Indenture and the trustee under any
indenture governing the Exchange Notes and Private Exchange Notes. 
  
 Underwritten registration or underwritten offering: A registration in which securities of the Issuer are sold to an underwriter for reoffering to the public. 
  
 2. Exchange Offer 
  
 (a) The Issuer shall (A) prepare and file with the SEC on or prior to the applicable Filing Date with respect to the Exchange Registration Statement (as
defined below) a Registration Statement under the Securities Act with respect to an offer by the Company to the holders of the Notes to issue and deliver to such holders, in exchange for Notes, a like principal amount of Exchange Notes (the
“Exchange Offer”), (B) use its reasonable efforts to cause the Registration Statement relating to the Exchange Offer to be declared effective by the SEC under the Securities Act on or prior to the Effectiveness Date and (C) commence
the Exchange Offer and use its reasonable efforts to issue, on or prior to 180 days after the Issue Date, the Exchange 
  

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 Notes. The offer and sale of the Exchange Notes pursuant to the Exchange Offer shall be registered pursuant to the
Securities Act on the appropriate form (the “Exchange Registration Statement”) and duly registered or qualified under all applicable state securities or Blue Sky laws and will comply with all applicable tender offer rules and
regulations under the Exchange Act and state securities or Blue Sky laws. The Exchange Offer shall not be subject to any condition, other than that the Exchange Offer does not violate any applicable law or interpretation of the staff of the SEC.
Upon consummation of the Exchange Offer in accordance with this Section 2, the Issuer shall have no further registration obligations other than with respect to (i) Private Exchange Notes, (ii) Exchange Notes held by Participating Broker-Dealers and
(iii) Notes or Exchange Notes as to which Section 3(a) hereof applies. No securities shall be included in the Exchange Registration Statement other than the Exchange Notes. 
  
 (b) The Issuer may require each holder of Notes as a condition to its participation in the Exchange Offer to represent to
the Issuer and its counsel in writing (which may be contained in the applicable letter of transmittal) that at the time of the consummation of the Exchange Offer (i) any Exchange Notes received by such holder will be acquired in the ordinary course
of its business, (ii) such holder will have no arrangement or understanding with any Person to participate in the distribution (within the meaning of the Securities Act) of the Exchange Notes, (iii) such holder is not an Affiliate of an Issuer, or
if it is an Affiliate of an Issuer, it will comply with the registration and prospectus delivery requirements of the Securities Act, to the extent applicable and (iv) if such holder is a broker-dealer that will receive Exchange Notes for its own
account in exchange for the Notes that were acquired as a result of market-making or other trading activities, that it will deliver a Prospectus in connection with any resale of such Exchange Notes. 
  
 If, prior to consummation of the Exchange Offer, an Initial Purchaser holds
any Notes acquired by it and having, or that are reasonably likely to be determined to have, the status of an unsold allotment in the initial distribution, or any other holder of Notes is not entitled to participate in the Exchange Offer, the
Company upon the request of such Initial Purchaser or any such holder shall, to the extent permitted by applicable law and the rules and regulations of The Depository Trust Company, simultaneously with the delivery of the Exchange Notes in the
Exchange Offer, issue and deliver to such Initial Purchaser and any such holder, in exchange (the “Private Exchange”) for such Notes held by such Initial Purchaser and any such holder, a like principal amount of debt securities of
the Company that are identical in all material respects to the Exchange Notes (the “Private Exchange Notes”) (and that are issued pursuant to the same indenture as the Exchange Notes). The Private Exchange Notes shall bear the same
CUSIP number as the Exchange Notes. 
  
 The Issuer and the Initial
Purchasers acknowledge that the staff of the SEC has taken the position that any broker-dealer that owns Exchange Notes that were received by such broker-dealer for its own account in the Exchange Offer (a “Participating
Broker-Dealer”) may be deemed to be an “underwriter” within the meaning of the Securities Act and must deliver a prospectus meeting the requirements of the Securities Act in connection with any resale of such Exchange Notes (other
than a resale of an unsold allotment resulting from the original offering of the Notes). 
  

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 The Issuer and the Initial Purchasers also acknowledge that it is the SEC staff’s position that if
the Prospectus contained in the Exchange Registration Statement includes a plan of distribution containing a statement to the above effect and the means by which Participating Broker-Dealers may resell the Exchange Notes, without naming the
Participating Broker-Dealers or specifying the amount of Exchange Notes owned by them, such Prospectus may be delivered by Participating Broker-Dealers to satisfy their prospectus delivery obligations under the Securities Act in connection with
resales of Exchange Notes for their own accounts, so long as the Prospectus otherwise meets the requirements of the Securities Act. 
  
 In light of the foregoing, if and for so long as a Prospectus is required to be delivered by a Participating Broker-Dealer and if so requested by a
Participating Broker-Dealer, the Issuer agrees (x) to use its best efforts to keep the Exchange Registration Statement continuously effective for a period of up to 180 days or such earlier date as each Participating Broker-Dealer shall have notified
the Company in writing that such Participating Broker-Dealer has resold all Exchange Notes acquired in the Exchange Offer (the “Applicable Period”) and (y) to comply with the provisions of Section 5 of this Agreement, as they relate
to the Exchange Offer and the Exchange Registration Statement. 
  
 Interest on the Exchange Notes and the Private Exchange Notes will accrue from (A) the later of (i) the last interest payment date on which interest was paid on the Notes surrendered in exchange therefor and (ii) if the Notes are
surrendered for exchange on a date in a period which includes the record date for an interest payment date to occur on or after the date of such exchange and as to which interest will be paid, the date on such interest payment date or (B), if no
interest has been paid on the Notes, from the Issue Date. 
  
 In
connection with each Exchange Offer, the Issuer shall: 
  
 (1) mail, or cause to be mailed, to each Holder of record entitled to participate in the Exchange a copy of the Prospectus forming part of the Exchange Registration Statement, together with an appropriate letter of transmittal and related
documents; 
  
 (2) use its best efforts to keep
the Exchange Offer open for not less than 20 business days after the date that notice of the Exchange Offer is mailed to Holders (or longer if required by applicable law); 
  
 (3) utilize the services of a depositary for the Exchange Offer with an address in the Borough of Manhattan,
The City of New York, which may be the Trustee; 
  
 (4) permit Holders to withdraw tendered Notes at any time prior to the close of business, New York time, on the last business day on which the Exchange Offer shall remain open; and 
  
 (5) otherwise comply in all material respects with all
applicable laws, rules and regulations. 
  

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 As soon as practicable after the close of the applicable Exchange Offer and the applicable Private
Exchange, if any, the Issuer shall: 
  
 (1)
accept for exchange all Registrable Notes validly tendered and not validly withdrawn pursuant to the applicable Exchange Offer and the applicable Private Exchange, if any; 
  
 (2) deliver to the Trustee for cancellation all Registrable Notes so accepted for exchange and cause the
Trustee to authenticate and deliver promptly to each Holder Registrable Notes, Exchange Notes or Private Exchange Notes, as the case may be, equal in principal amount to the securities of such Holder so accepted for exchange. 
  
 The Exchange Notes and the Private Exchange Notes shall be issued under (i)
the Indenture or (ii) an indenture identical in all material respects to the Indenture and that, in either case, has been qualified under the TIA or is exempt from such qualification and shall provide that (a) the Exchange Notes shall not be subject
to the transfer restrictions set forth in the Indenture and (b) the Private Exchange Notes shall be subject to the transfer restrictions set forth in such indenture. The Indenture or such indenture shall provide that the Exchange Notes, the Private
Exchange Notes and the Notes shall vote and consent together on all matters as one class and that none of the Exchange Notes, the Private Exchange Notes or the Notes will have the right to vote or consent as a separate class on any matter.

  
 (c) If, (i) because of any change in law or in currently
prevailing interpretations of the staff of the SEC, the Issuer is not permitted to effect the Exchange Offer, (ii) the Exchange Offer is not consummated within 225 days of the Issue Date, (iii) any holder of any Private Exchange Notes so requests in
writing to the Issuer within 45 days after the consummation of the Exchange Offer, or (iv) in the case of any Holder that participates in the Exchange Offer, such Holder does not receive Exchange Notes on the date of the exchange that may be sold
without restriction under state and federal securities laws (other than due solely to the status of such Holder as an affiliate of the Issuer within the meaning of the Securities Act) (it being understood that the requirement that a Participating
Broker-Dealer deliver a Prospectus in connection with sales of Exchange Notes acquired in the Exchange Offer in exchange for Notes acquired as a result of market-making activities or other trading activities shall not result in such Exchange Notes
being not “freely tradable”), then in the case of each of clauses (i) to and including (iv) of this sentence, the Issuer shall promptly deliver to the Holders and the Trustee written notice thereof (the “Shelf Notice”) and
shall file a Shelf Registration pursuant to Section 3 hereof. 
  
 3. Shelf Registration 
  
 If at any time a Shelf
Notice is delivered as contemplated by Section 2(c) hereof, then: 
  
 (a) Shelf Registration. The Issuer shall file with the SEC a Registration Statement for an offering to be made on a continuous basis pursuant to Rule 415 covering all of the Registrable Notes not exchanged in
the Exchange Offer, Private Exchange Notes and Exchange Notes as to which Section 2(c)(iv) is applicable (the “Initial Shelf Registration”). The Issuer shall use its reasonable best efforts to file with the SEC the 
  

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 Initial Shelf Registration on or before the applicable Filing Date; provided, however, that
no Holder (other than an Initial Purchaser) shall be entitled to have the Notes held by it covered by such Initial Shelf Registration or Subsequent Shelf Registration (as defined below), as the case may be, unless such Holder agrees in writing to be
bound by all of the provisions of this Agreement applicable to such Holder. The Initial Shelf Registration shall be on Form S-1 or another appropriate form permitting registration of such Registrable Notes for resale by Holders in the manner or
manners designated by them (including, without limitation, one or more underwritten offerings). The Issuer shall not permit any securities other than the Registrable Notes to be included in the Initial Shelf Registration or any Subsequent Shelf
Registration (as defined below). 
  
 The Issuer
shall use its reasonable best efforts to cause the Initial Shelf Registration to be declared effective by the SEC under the Securities Act on or prior to the Effectiveness Date and to keep the Initial Shelf Registration continuously effective under
the Securities Act until the date which is two years from the Issue Date (the “Effectiveness Period”), or such shorter period ending when (i) all Registrable Notes covered by the Initial Shelf Registration have been sold in the
manner set forth and as contemplated in the Initial Shelf Registration or (ii) a Subsequent Shelf Registration covering all of the Registrable Notes covered by and not sold under the Initial Shelf Registration or an earlier Subsequent Shelf
Registration has been declared effective under the Securities Act; provided, however, that the Effectiveness Period in respect of the Initial Shelf Registration shall be extended to the extent required to permit dealers to comply with
the applicable prospectus delivery requirements of Rule 174 under the Securities Act and as otherwise provided herein. 
  
 (b) Subsequent Shelf Registrations. If the Initial Shelf Registration or any Subsequent Shelf Registration ceases to be effective
for any reason at any time during the Effectiveness Period (other than because of the sale of all of the securities registered thereunder), the Issuer shall use its reasonable best efforts to obtain the prompt withdrawal of any order suspending the
effectiveness thereof, and in any event shall within 60 days of such cessation of effectiveness amend the Initial Shelf Registration in a manner to obtain the withdrawal of the order suspending the effectiveness thereof, or file an additional
Registration Statement pursuant to Rule 415 covering all of the Registrable Notes covered by and not sold under the Initial Shelf Registration or an earlier Subsequent Shelf Registration (each, a “Subsequent Shelf Registration”). If
a Subsequent Shelf Registration is filed, the Issuer shall use its reasonable best efforts to cause the Subsequent Shelf Registration to be declared effective under the Securities Act as soon as practicable after such filing and to keep such
Subsequent Shelf Registration continuously effective for the remainder of the Effectiveness Period. As used herein the term “Shelf Registration” means the Initial Shelf Registration and any Subsequent Shelf Registration. 

 
 (c) Supplements and Amendments. The Issuer shall,
subject to Section 5(j), promptly supplement and amend any Shelf Registration if required by the rules, regulations or instructions applicable to the registration form used for such Shelf Registration, if required by the Securities Act, or if
reasonably requested by the Holders of a majority in aggregate principal amount of the Registrable Notes covered by such Registration Statement or by any underwriter of such Registrable Notes. 
  

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 4. Additional Interest 
  
 (a) The Issuer and the Initial Purchasers agree that the Holders will suffer damages if the Issuer fails to fulfill its
obligations under Section 2 or Section 3 hereof and that it would not be feasible to ascertain the extent of such damages with precision. Accordingly, the Issuer agrees to pay, as liquidated damages, additional interest on the Notes
(“Additional Interest”) under the circumstances and to the extent set forth below (each of which shall be given independent effect): 
  
 (i) if (A) neither the Exchange Registration Statement nor the Initial Shelf Registration has been filed on or prior to the applicable
Filing Date or (B) notwithstanding that the Issuer has consummated or will consummate the Exchange Offer, the Issuer is required to file a Shelf Registration and such Shelf Registration is not filed on or prior to the applicable Filing Date
applicable thereto; or 
  
 (ii) if (A) neither
the Exchange Registration Statement nor the Initial Shelf Registration is declared effective by the SEC on or prior to the relevant Effectiveness Date or (B) notwithstanding that the Issuer has consummated or will consummate the Exchange Offer, the
Issuer is required to file a Shelf Registration and such Shelf Registration is not declared effective by the SEC on or prior to the Effectiveness Date in respect of such Shelf Registration; or 
  
 (iii) if (A) the Issuer has not exchanged Exchange Notes for
all Notes validly tendered in accordance with the terms of the Exchange Offer on or prior to the 180th day after the Issue Date or (B) if applicable, a Shelf Registration has been declared effective and such Shelf Registration ceases to be effective
at any time during the Effectiveness Period (other than such time as all Notes have been disposed of thereunder); 
  
 (each such event referred to in clauses (i) through (iii) above being a “Registration Default”) then, commencing on the date of such Registration
Default, Additional Interest shall accrue on the principal amount of the Notes at a rate of .25% per annum for the first 90 days immediately following the date of such Registration Default and the rate of such Additional Interest shall increase by
an additional .25% per annum at the beginning of each subsequent 90-day period; provided, however, that the rate of Additional Interest that shall accrue on the Notes may not exceed in the aggregate 1.0% per annum; provided,
further, however, that (1) upon the filing of the applicable Exchange Registration Statement or the applicable Shelf Registration as required hereunder (in the case of clause (i) above of this Section 4(a)), (2) upon the effectiveness
of the applicable Exchange Registration Statement or the applicable Shelf Registration Statement as required hereunder (in the case of clause (ii) of this Section 4(a)), or (3) upon the exchange of the applicable Exchange Notes for all Notes
tendered (in the case of clause (iii)(A) of this Section 4(a), or upon the effectiveness of the applicable Shelf Registration Statement which had ceased to remain effective (in the case of (iii)(B) of this Section 4(a)), Additional Interest on the
Notes in respect of which such events relate as a result of such clause (or the relevant subclause thereof), as the case may be, shall cease to accrue or accumulate, as the case may be. If, after the 
  

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 cure of all Registration Defaults then in effect, there is a subsequent Registration Default, the rate of Additional
Interest for such subsequent Registration Default shall initially be 0.50%, regardless of the rate of Additional Interest in effect with respect to any prior Registration Default at the time of the cure of such Registration Default. 
  
 (b) The Issuer shall notify the Trustee (who shall be acting under and
protected by the terms of the Indenture) within three business days after each and every date on which an event occurs in respect of which Additional Interest is required to be paid (an “Event Date”). Any amounts of Additional
Interest due pursuant to (a)(i), (a)(ii) or (a)(iii) of this Section 4 shall be payable in cash semiannually on each May 15 and November 15 (to the holders of record on the May 1 and November 1 immediately preceding such dates), commencing with the
first such date occurring after any such Additional Interest commences to accrue. The amount of Additional Interest will be determined by multiplying the applicable rate of Additional Interest by the principal amount of the Registrable Notes,
multiplied by a fraction, the numerator of which is the number of days such rate of Additional Interest was applicable during such period (determined on the basis of a 360-day year comprised of twelve 30-day months and, in the case of a partial
month, the actual number of days elapsed), and the denominator of which is 360. 
  
 5. Registration Procedures 
  
 In connection with the filing of any Registration Statement pursuant to Sections 2 or 3 hereof, the Issuer shall effect such registrations to permit the sale of the securities covered thereby in accordance with the intended method or
methods of disposition thereof, and pursuant thereto and in connection with any Registration Statement filed by the Issuer hereunder, the Issuer shall: 
  
 (a) Prepare and file with the SEC prior to the applicable Filing Date, a Registration Statement or Registration Statements as prescribed
by Sections 2 or 3 hereof, and use its reasonable efforts to cause each such Registration Statement to become effective and remain effective as provided herein; provided, however, that, if (1) such filing is pursuant to Section 3
hereof, or (2) a Prospectus contained in the Exchange Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the
Applicable Period relating thereto, before filing any Registration Statement or Prospectus or any amendments or supplements thereto, the Issuer shall furnish to and afford the Holders of the Registrable Notes included in such Registration Statement
or each such Participating Broker-Dealer, as the case may be, its counsel and the managing underwriters, if any, a reasonable opportunity to review copies of all such documents (including copies of any documents to be incorporated by reference
therein and all exhibits thereto) proposed to be filed (in each case at least five days prior to such filing, or such later date as is reasonable under the circumstances). The Issuer shall not file any Registration Statement or Prospectus or any
amendments or supplements thereto if the Holders of a majority in aggregate principal amount of the Registrable Notes included in such Registration Statement, or any such Participating Broker-Dealer, as the case may be, their counsel, or the
managing underwriters, if any, shall reasonably object on a timely basis. 
  

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 (b) Prepare and file with the SEC such amendments and post-effective amendments to each
Shelf Registration Statement or Exchange Registration Statement, as the case may be, as may be necessary to keep such Registration Statement continuously effective for the Effectiveness Period or the Applicable Period, as the case may be; cause the
related Prospectus to be supplemented by any prospectus supplement required by applicable law, and as so supplemented to be filed pursuant to Rule 424 (or any similar provisions then in force) promulgated under the Securities Act; and comply with
the provisions of the Securities Act and the Exchange Act applicable to it with respect to the disposition of all securities covered by such Registration Statement as so amended or in such Prospectus as so supplemented and with respect to the
subsequent resale of any securities being sold by a Participating Broker-Dealer covered by any such Prospectus. The Issuer shall be deemed not to have used its best efforts to keep a Registration Statement effective during the Effectiveness Period
or the Applicable Period, as the case may be, relating thereto if the Issuer voluntarily takes any action that would result in selling Holders of the Registrable Notes covered thereby or Participating Broker-Dealers seeking to sell Exchange Notes
not being able to sell such Registrable Notes or such Exchange Notes during that period unless such action is required by applicable law or permitted by this Agreement. 
  
 (c) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a Prospectus contained in an
Exchange Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period relating thereto from whom the
Company has received written notice that it will be a Participating Broker-Dealer in the applicable Exchange Offer, notify the selling Holders of Registrable Notes or each such Participating Broker-Dealer, as the case may be, promptly (but in any
event within 2 business days), and confirm such notice in writing, (i) when a Prospectus or any Prospectus supplement or post-effective amendment has been filed, and, with respect to a Registration Statement or any post-effective amendment, when the
same has become effective under the Securities Act (including in such notice a written statement that any Holder may, upon request, obtain, at the sole expense of the Issuer, one conformed copy of such Registration Statement or post-effective
amendment including financial statements and schedules, documents incorporated or deemed to be incorporated by reference and exhibits), (ii) of the issuance by the SEC of any stop order suspending the effectiveness of a Registration Statement or of
any order preventing or suspending the use of any preliminary prospectus or the initiation of any proceedings for that purpose, (iii) if at any time when a prospectus is required by the Securities Act to be delivered in connection with sales of the
Registrable Notes or resales of Exchange Notes by Participating Broker-Dealers the representations and warranties of the Issuer contained in any agreement (including any underwriting agreement) contemplated by Section 5(l) hereof cease to be true
and correct in all material respects, (iv) of the receipt by the Issuer of any notification with respect to the suspension of the qualification or exemption from qualification of a Registration Statement or any of the Registrable Notes or the
Exchange Notes to be sold by any Participating Broker-Dealer for offer or sale in any jurisdiction, or the initiation or written threat of any proceeding for such purpose, (v) of the happening of any event, the existence of any condition or any
information becoming known that makes 
  

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 any statement made in such Registration Statement or related Prospectus or any document incorporated or
deemed to be incorporated therein by reference untrue in any material respect or that requires the making of any changes in or amendments or supplements to such Registration Statement, Prospectus or documents so that, in the case of the Registration
Statement, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and that in the case of the Prospectus, it will not
contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, and (vi) of the
Issuer’s determination that a post-effective amendment to a Registration Statement would be appropriate. 
  
 (d) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a Prospectus contained in an Exchange Registration Statement
filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, use its best efforts to prevent the issuance of any order
suspending the effectiveness of a Registration Statement or of any order preventing or suspending the use of a Prospectus or suspending the qualification (or exemption from qualification) of any of the Registrable Notes or the Exchange Notes to be
sold by any Participating Broker-Dealer, for sale in any jurisdiction, and, if any such order is issued, to use its best efforts to obtain the withdrawal of any such order at the earliest possible date. 
  
 (e) If a Shelf Registration is filed pursuant to Section 3
and if reasonably requested by the managing underwriter or underwriters (if any), the Holders of a majority in aggregate principal amount of the Registrable Notes being sold in connection with an underwritten offering (i) as promptly as practicable
incorporate in a prospectus supplement or post-effective amendment such information as the managing underwriter or underwriters (if any), such Holders, or counsel for any of them determine is reasonably necessary to be included therein, (ii) make
all required filings of such prospectus supplement or such post-effective amendment as soon as practicable after the Issuer have received notification of the matters to be incorporated in such prospectus supplement or post-effective amendment, and
(iii) supplement or make amendments to such Registration Statement. 
  
 (f) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a Prospectus contained in an Exchange Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the
Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, furnish to each selling Holder of Registrable Notes and to each such Participating Broker-Dealer who so requests and to their respective
counsel and each managing underwriter, if any, at the sole expense of the Issuer, one conformed copy of the Registration Statement or Registration Statements and each post-effective amendment thereto, including financial statements and schedules,
and, if requested, all documents incorporated or deemed to be incorporated therein by reference and all exhibits. 
  

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 (g) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a
Prospectus contained in an Exchange Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period,
deliver to each selling Holder of Registrable Notes or each such Participating Broker-Dealer, as the case may be, their respective counsel, and the underwriters, if any, at the sole expense of the Issuer, as many copies of the Prospectus or
Prospectuses (including each form of preliminary prospectus) and each amendment or supplement thereto and any documents incorporated by reference therein as such Persons may reasonably request; and, subject to the last paragraph of this Section 5,
the Issuer hereby consents to the use of such Prospectus and each amendment or supplement thereto by each of the selling Holders of Registrable Notes or each such Participating Broker-Dealer, as the case may be, and the underwriters or agents, if
any, and dealers (if any), in connection with the offering and sale of the Registrable Notes covered by, or the sale by Participating Broker-Dealers of the Exchange Notes pursuant to, such Prospectus and any amendment or supplement thereto.

  
 (h) Prior to any public offering of
Registrable Notes or any delivery of a Prospectus contained in the Exchange Registration Statement by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, use its best efforts to register or qualify, and to
cooperate with the selling Holders of Registrable Notes or each such Participating Broker-Dealer, as the case may be, the managing underwriter or underwriters, if any, and their respective counsel in connection with the registration or qualification
(or exemption from such registration or qualification) of such Registrable Notes for offer and sale under the securities or Blue Sky laws of such jurisdictions within the United States as any selling Holder, Participating Broker-Dealer, or the
managing underwriter or underwriters reasonably request in writing; provided, however, that where Exchange Notes held by Participating Broker-Dealers or Registrable Notes are offered other than through an underwritten offering, the
Issuer agrees to cause its counsel to perform Blue Sky investigations and file registrations and qualifications required to be filed pursuant to this Section 5(h), keep each such registration or qualification (or exemption therefrom) effective
during the period such Registration Statement is required to be kept effective, but not longer than the Effectiveness Period and do any and all other acts or things reasonably necessary or advisable to enable the disposition in such jurisdictions of
the Exchange held by Participating Broker-Dealers or the Registrable Notes covered by the Registration Statement; provided, however, that the Issuer shall not be required to (A) qualify generally to do business in any jurisdiction
where it is not then so qualified, (B) take any action that would subject it to general service of process in any such jurisdiction where it is not then so subject or (C) subject itself to taxation in excess of a nominal dollar amount in any such
jurisdiction where it is not then so subject. 
  
 (i) If a Shelf Registration is filed pursuant to Section 3 hereof, cooperate with the selling Holders of Registrable Notes and the managing underwriter or underwriters, if any, to facilitate the timely preparation and delivery of
certificates representing Registrable Notes to be sold, which certificates shall not bear any restrictive legends and shall be in a form eligible for deposit with The Depository Trust Company; and enable such Registrable Notes to be in such
denominations and registered in such names as the managing underwriter or underwriters, if any, or Holders may reasonably request at least two days prior to the Closing of any sale of Registrable Notes. 
  

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 (j) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a
Prospectus contained in the Exchange Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period,
upon the occurrence of any event contemplated by paragraph 5(c)(v) or 5(c)(vi) hereof, as promptly as practicable prepare and (subject to Section 5(a) hereof) file with the SEC, at the sole expense of the Issuer, a supplement or post-effective
amendment to the applicable Registration Statement or a supplement to the related Prospectus or any document incorporated or deemed to be incorporated therein by reference, or file any other required document so that, as thereafter delivered to the
purchasers of the Registrable Notes being sold thereunder or to the purchasers of the Exchange Notes to whom such Prospectus will be delivered by a Participating Broker-Dealer, any such Prospectus will not contain an untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. Notwithstanding the foregoing, the Issuer shall not be
required to amend or supplement a Registration Statement, any related Prospectus or any document incorporated therein by reference, in the event that, and for a period not to exceed an aggregate of 60 days in any calendar year if, (i) an event
occurs and is continuing as a result of which a Shelf Registration would, in the Issuer’s good faith judgment, contain an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in
the light of the circumstances under which they were made, not misleading, and (ii) (a) the Issuer determines in its good faith judgment that the disclosure of such event at such time would have a material adverse effect on the business, operations
or prospects of the Issuer or (b) the disclosure otherwise relates to a pending material business transaction that has not yet been publicly disclosed. 
  
 (k) Prior to the effective date of the first Registration Statement relating to the Registrable Notes, (i) provide the Trustee with
certificates for the Registrable Notes in a form eligible for deposit with The Depository Trust Company and (ii) provide a CUSIP number for the Registrable Notes. 
  
 (l) In the case of a Shelf Registration, enter into such agreements (including underwriting agreements) and
take all such other appropriate actions as are reasonably requested in order to expedite or facilitate the registration or the disposition of such Registrable Notes, and in such connection, (i) make such representations and warranties to Holders of
such Registrable Notes with respect to the business of the Issuer and its subsidiaries as then conducted and the Registration Statement, Prospectus and documents, if any, incorporated or deemed to be incorporated by reference therein, in each case,
as are customarily made by Issuer to underwriters in underwritten offerings, and confirm the same if and when requested; (ii) obtain opinions of counsel to the Issuer and updates thereof in form and substance reasonably satisfactory to the Holders
of a majority in principal amount of the Registrable Notes being sold, addressed to each selling Holder covering the matters customarily covered in opinions requested in underwritten offerings and 
  

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 such other matters as may be reasonably requested by such Holders; (iii) obtain “cold comfort”
letters and updates thereof from the independent certified public accountants of the Issuer (and, if necessary, any other independent certified public accountants of any subsidiary of the Issuer or of any business acquired by any of the Issuer for
which financial statements and financial data are, or are required to be, included in the Registration Statement), addressed to the selling Holders of Registrable Notes that satisfy the applicable requirements of Statement of Accounting Standards
No. 72, such letters to be in customary form and covering matters of the type customarily covered in “cold comfort” letters in connection with underwritten offerings and such other matters as reasonably requested by such selling Holders;
and (iv) if an underwriting agreement is entered into, the same shall contain indemnification provisions and procedures no less favorable than those set forth in Section 7 hereof (or such other provisions and procedures acceptable to the Issuer and
the Holders of a majority in aggregate principal amount of Registrable Notes covered by such Registration with respect to all parties to be indemnified pursuant to said Section including, without limitation, such selling Holders). The above shall be
done at each closing in respect of the sale of Registrable Notes, or as and to the extent required thereunder. 
  
 (m) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a Prospectus contained in an Exchange Registration Statement
filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, make available for inspection by any selling Holder of such
Registrable Notes being sold, or each such Participating Broker-Dealer, as the case may be, any underwriter participating in any such disposition of Registrable Notes, if any, and any attorney, accountant or other agent retained by any such selling
Holder or each such Participating Broker-Dealer, as the case may be, or underwriter (collectively, the “Inspectors”), at the offices where normally kept, during reasonable business hours, all financial and other records, pertinent
corporate documents and instruments of the Issuer and subsidiaries of the Issuer (collectively, the “Records”) as shall be reasonably necessary to enable them to exercise any applicable due diligence responsibilities, and cause the
officers, directors and employees of the Issuer and any of its subsidiaries to supply all information reasonably requested by any such Inspector in connection with such Registration Statement and Prospectus. Each Inspector shall agree in writing
that it will keep the Records confidential and that it will not disclose any of the Records that the Issuer determine, in good faith, to be confidential and notify the Inspectors in writing are confidential unless (i) the disclosure of such Records
is necessary to avoid or correct a material misstatement or material omission in such Registration Statement or Prospectus, (ii) the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, or
(iii) the information in such Records has been made generally available to the public; provided, however, that prior notice shall be provided as soon as practicable to the Issuer of the potential disclosure of any information by such Inspector
pursuant to clauses (i) or (ii) of this sentence to permit the Issuer to obtain a protective order (or waive the provisions of this paragraph (m)) and that such Inspector shall take such actions as are reasonably necessary to protect the
confidentiality of such information (if practicable) to the extent such action is otherwise not inconsistent with, an impairment of or in derogation of the rights and interests of the Holder or any Inspector. 
  

 -15- 

 (n) Provide an indenture trustee for the Registrable Notes or the Exchange Notes, as the
case may be, and cause the Indenture or the trust indenture provided for in Section 2(a) hereof, as the case may be, to be qualified under the TIA not later than the effective date of the first Registration Statement relating to the Registrable
Notes; and in connection therewith, cooperate with the trustee under any such indenture and the Holders of the Registrable Notes, to effect such changes to such indenture as may be required for such indenture to be so qualified in accordance with
the terms of the TIA; and execute, and use its best efforts to cause such trustee to execute, all documents as may be required to effect such changes, and all other forms and documents required to be filed with the SEC to enable such indenture to be
so qualified in a timely manner. 
  
 (o) Comply
with all applicable rules and regulations of the SEC and make generally available to its securityholders with regard to any applicable Registration Statement, a consolidated earning statement satisfying the provisions of Section 11(a) of the
Securities Act and Rule 158 thereunder (or any similar rule promulgated under the Securities Act) no later than 45 days after the end of any twelve-month period (or 90 days after the end of any 12-month period if such period is a fiscal year) (i)
commencing at the end of any fiscal quarter in which any Registrable Notes are sold to underwriters in a firm commitment or best efforts underwritten offering and (ii) if not sold to underwriters in such an offering, commencing on the first day of
the first fiscal quarter of the Issuer after the effective date of a Registration Statement, which statements shall cover said 12-month periods. 
  
 (p) Upon consummation of an Exchange Offer or a Private Exchange, obtain an opinion of counsel to the Issuer addressed to the Trustee for
the benefit of all Holders of Registrable Notes participating in the Exchange Offer or Private Exchange, as the case may be, that the Exchange Notes or Private Exchange Notes as the case may be, and the related indenture constitute legal, valid and
binding obligations of the Issuer, enforceable against it in accordance with their respective terms subject to customary exceptions and qualifications. 
  
 (q) If the Exchange Offer or a Private Exchange is to be consummated, upon delivery of the Registrable Notes by Holders to the Issuer (or
to such other Person as directed by the Issuer) in exchange for the Exchange Notes or the Private Exchange Notes, as the case may be, the Issuer shall mark, or cause to be marked, on such Registrable Notes that such Registrable Notes are being
canceled in exchange for the Exchange Notes or the Private Exchange Notes, as the case may be; provided that in no event shall such Registrable Notes be marked as paid or otherwise satisfied. 
  
 (r) Cooperate with each seller of Registrable Notes covered
by any Registration Statement and each underwriter, if any, participating in the disposition of such Registrable Notes and their respective counsel in connection with any filings required to be made with the National Association of Securities
Dealers, Inc. (the “NASD”). 
  

 -16- 

 (s) Use its reasonable efforts to take all other steps reasonably necessary to effect the
registration of the applicable Registrable Notes covered by a Registration Statement contemplated hereby. 
  
 The Issuer may require each seller of any Registrable Notes as to which any registration is being effected to furnish to the Issuer such information
regarding such seller and the distribution of such Registrable Notes as the Issuer may, from time to time, reasonably request. The Issuer may exclude from such registration the Registrable Notes of any seller for so long as such seller fails to
furnish such information within a reasonable time after receiving such request and in such event shall have no further obligation under this Agreement (including without limitation the obligation under Section 4) with respect to such seller or any
subsequent holder of such Registrable Notes. Each seller as to which any Shelf Registration is being effected agrees to furnish promptly to the Issuer all information required to be disclosed in order to make the information previously furnished to
the Issuer by such seller not materially misleading. 
  
 If any
such Registration Statement refers to any Holder by name or otherwise as the holder of any securities of the Issuer, then such Holder shall have the right to require (i) the insertion therein of language, in form and substance reasonably
satisfactory to such Holder, to the effect that the holding by such Holder of such securities is not to be construed as a recommendation by such Holder of the investment quality of the securities covered thereby and that such holding does not imply
that such Holder will assist in meeting any future financial requirements of the Issuer, or (ii) in the event that such reference to such Holder by name or otherwise is not required by the Securities Act or any similar federal statute then in force,
the deletion of the reference to such Holder in any amendment or supplement to the applicable Registration Statement filed or prepared subsequent to the time that such reference ceases to be required. 
  
 Each Holder of Registrable Notes and each Participating Broker-Dealer agrees
by its acquisition of such Registrable Notes or Exchange Notes, as the case may be, to be sold by such Participating Broker-Dealer, as the case may be, that, upon actual receipt of any notice from the Issuer of the happening of any event of the kind
described in Section 5(c)(ii), 5(c)(iv), 5(c)(v), or 5(c)(vi) hereof, such Holder or Participating Broker-Dealer, as the case may be, will forthwith discontinue disposition of such Registrable Notes or Exchange Notes, as the case may be, covered by
such Registration Statement or Prospectus until such Holder’s or Participating Broker-Dealer’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 5(j) hereof, or until it is advised in writing (the
“Advice”) by the Issuer that the use of the applicable Prospectus may be resumed, and has received copies of any amendments or supplements thereto. In the event that the Issuer shall give any such notice, the Applicable Period shall
be extended by the number of days during such periods from and including the date of the giving of such notice to and including the date when each seller of Registrable Notes covered by such Registration Statement or Exchange Notes to be sold by
such Participating Broker-Dealer, as the case may be, shall have received (x) the copies of the supplemented or amended Prospectus contemplated by Section 5(j) hereof or (y) the Advice. 
  
 6. Registration Expenses 
  
 All fees and expenses incident to the performance of or compliance with this Agreement by the Issuer (other than any underwriting discounts or
commissions) shall be borne 
  

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 by the Issuer whether or not the Exchange Registration Statement or any Shelf Registration is filed or becomes effective
or the Exchange Offer is consummated, including, without limitation, (i) all registration and filing fees (including, without limitation, (A) fees with respect to filings required to be made with the NASD in connection with an underwritten offering
and (B) fees and expenses of compliance with state securities or Blue Sky laws (including, without limitation, fees and disbursements of counsel in connection with Blue Sky qualifications of the Registrable Notes or Exchange Notes and determination
of the eligibility of the Registrable Notes or Exchange Notes for investment under the laws of such jurisdictions (x) where the holders of Registrable Notes or Exchange Notes, as the case may be, are located, or (y) as provided in Section 5(h)
hereof, in the case of Registrable Notes or Exchange Notes, as the case may be, to be sold by a Participating Broker-Dealer during the Applicable Period)), (ii) printing expenses, including, without limitation, expenses of printing certificates for
Registrable Notes or Exchange Notes in a form eligible for deposit with The Depository Trust Company and of printing prospectuses if the printing of prospectuses is requested by the managing underwriter or underwriters, if any, by the Holders of a
majority in aggregate principal amount of the Registrable Notes included in any Registration Statement or to be sold by any Participating Broker-Dealer, as the case may be, (iii) messenger, telephone and delivery expenses, (iv) fees and
disbursements of counsel for the Issuer and fees and disbursements of one special counsel for all of the sellers of the Registrable Notes (exclusive of any counsel retained pursuant to Section 7 hereof), (v) fees and disbursements of all independent
certified public accountants referred to in Section 5(l)(iii) hereof (including, without limitation, the expenses of any special audit and “cold comfort” letters required by or incident to such performance), (vi) Securities Act liability
insurance, if the Issuer desires such insurance, (vii) fees and expenses of all other Persons retained by the Issuer, (viii) internal expenses of the Issuer (including, without limitation, all salaries and expenses of officers and employees of the
Issuer performing legal or accounting duties), (ix) the expense of any annual audit, (x) any fees and expenses incurred in connection with the listing of the securities to be registered on any securities exchange, and the obtaining of a rating of
the securities, in each case, if applicable, and (xi) the expenses relating to printing, word processing and distributing all Registration Statements, underwriting agreements, indentures and any other documents necessary in order to comply with this
Agreement. 
  
 7. Indemnification and Contribution

  
 (a) The Issuer agrees to indemnify and hold harmless each
Holder of the Registrable Notes and each Participating Broker-Dealer selling the Exchange Notes during the Applicable Period, the Affiliates, officers, directors and employees of each such Person, and each Person, if any, who controls any such
Person within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (each, a “Participant”), from and against any and all losses, claims, damages, judgments, liabilities and expenses (including,
without limitation, the legal fees and other expenses actually incurred in connection with any suit, action or proceeding or any claim asserted) caused by, arising out of or based upon any untrue statement or alleged untrue statement of a material
fact contained in any Registration Statement (or any amendment thereto) or Prospectus (as amended or supplemented if the Issuer shall have furnished any amendments or supplements thereto) or any preliminary prospectus, or caused by, arising out of
or based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in the case of the Prospectus in the 
  

 -18- 

 light of the circumstances under which they were made, not misleading, except insofar as such losses, claims,
damages or liabilities are caused by any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with information relating to any Participant furnished to the Issuer in writing by such Participant
expressly for use therein and with respect to any preliminary Prospectus, to the extent that any such loss, claim, damage or liability arises solely from the fact that any Participant sold Registrable Notes or Exchange Notes to a person to whom
there was not sent or given a copy of the Prospectus (as amended or supplemented) at or prior to the written confirmation of such sale if the Issuer shall have previously furnished copies thereof to the Participant in accordance herewith and the
Prospectus (as amended or supplemented) would have corrected any such untrue statement or omission. 
  
 (b) Each Participant agrees, severally and not jointly, to indemnify and hold harmless the Issuer, the Affiliates, officers, directors and employees of
the Issuer and each Person who controls the Issuer within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent (but on a several, and not joint, basis) as the foregoing indemnity from the Issuer to
each Participant, but only with reference to information relating to such Participant furnished to the Issuer in writing by or on behalf of such Participant expressly for use in any Registration Statement or Prospectus, any amendment or supplement
thereto, or any preliminary prospectus. The liability of any Participant under this paragraph shall in no event exceed the proceeds received by such Participant from sales of Registrable Notes or Exchange Notes giving rise to such obligations.

  
 (c) If any suit, action, proceeding (including any
governmental or regulatory investigation), claim or demand shall be brought or asserted against any Person in respect of which indemnity may be sought pursuant to either of the two preceding paragraphs, such Person (the “Indemnified
Person”) shall promptly notify the Persons against whom such indemnity may be sought (the “Indemnifying Persons”) in writing, and the Indemnifying Persons, upon request of the Indemnified Person, shall retain counsel
reasonably satisfactory to the Indemnified Person to represent the Indemnified Person and any others the Indemnifying Persons may reasonably designate in such proceeding and shall pay the fees and expenses actually incurred by such counsel related
to such proceeding; provided, however, that the failure to so notify the Indemnifying Persons will not relieve it from any liability under paragraph (a) or (b) above unless and to the extent such failure results in the forfeiture by
the Indemnifying Person of substantial rights and defenses and the Indemnifying Person was not otherwise aware of such action or claim. In any such proceeding, any Indemnified Person shall have the right to retain its own counsel, but the fees and
expenses of such counsel shall be at the expense of such Indemnified Person unless (i) the Indemnifying Persons and the Indemnified Person shall have mutually agreed to the contrary, (ii) the Indemnifying Persons shall have failed within a
reasonable period of time to retain counsel reasonably satisfactory to the Indemnified Person or (iii) the named parties in any such proceeding (including any impleaded parties) include both any Indemnifying Person and the Indemnified Person or any
affiliate thereof and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is understood that the Indemnifying Persons shall not, in connection with such proceeding
or separate but substantially similar related proceedings in the same jurisdiction arising out of the same general allegations, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) for all Indemnified
Persons, and that all such fees and expenses shall be reimbursed 
  

 -19- 

 promptly as they are incurred. Any such separate firm for the Participants and such control Persons of Participants shall
be designated in writing by Participants who sold a majority in interest of Registrable Notes and Exchange Notes sold by all such Participants and shall be reasonably acceptable to the Issuer, and any such separate firm for the Issuer, its
affiliates, officers, directors, representatives, employees and agents and such control Persons of the Issuer shall be designated in writing by the Issuer and shall be reasonably acceptable to the Holders. 
  
 The Indemnifying Persons shall not be liable for any settlement of any
proceeding effected without its prior written consent (which consent shall not be unreasonably withheld or delayed), but if settled with such consent or if there be a final non-appealable judgment for the plaintiff for which the Indemnified Person
is entitled to indemnification pursuant to this Agreement, each of the Indemnifying Persons agrees to indemnify and hold harmless each Indemnified Person from and against any loss or liability by reason of such settlement or judgment. No
Indemnifying Person shall, without the prior written consent of the Indemnified Persons (which consent shall not be unreasonably withheld or delayed), effect any settlement or compromise of any pending or threatened proceeding in respect of which
any Indemnified Person is or could have been a party, or indemnity could have been sought hereunder by such Indemnified Person, unless such settlement (A) includes an unconditional written release of such Indemnified Person, in form and substance
reasonably satisfactory to such Indemnified Person, from all liability on claims that are the subject matter of such proceeding and (B) does not include any statement as to an admission of fault, culpability or failure to act by or on behalf of such
Indemnified Person. 
  
 (d) If the indemnification provided for in
paragraphs (a) and (b) of this Section 7 is for any reason unavailable to, or insufficient to hold harmless, an Indemnified Person in respect of any losses, claims, damages or liabilities referred to therein, then each Indemnifying Person under such
paragraphs, in lieu of indemnifying such Indemnified Person thereunder and in order to provide for just and equitable contribution, shall contribute to the amount paid or payable by such Indemnified Person as a result of such losses, claims, damages
or liabilities in such proportion as is appropriate to reflect the relative fault of the Indemnifying Person or Persons on the one hand and the Indemnified Person or Persons on the other in connection with the statements or omissions or alleged
statements or omissions that resulted in such losses, claims, damages or liabilities (or actions in respect thereof) as well as any other relevant equitable considerations. The relative fault of the parties shall be determined by reference to, among
other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Issuer on the one hand or such Participant or such other Indemnified
Person, as the case may be, on the other, the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission, and any other equitable considerations appropriate in the circumstances.

  
 (e) The parties agree that it would not be just and equitable
if contribution pursuant to this Section 7 were determined by pro rata allocation (even if the Participants were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable
considerations referred to in the immediately preceding paragraph. The amount paid or payable by an Indemnified Person as a result of the losses, claims, damages, judgments, liabilities and expenses referred to in the immediately preceding paragraph
shall be deemed to include, subject to the limitations set forth above, any reasonable legal or other 
  

 -20- 

 expenses actually incurred by such Indemnified Person in connection with investigating or defending any such action or
claim. Notwithstanding the provisions of this Section 7, in no event shall a Participant be required to contribute any amount in excess of the amount by which proceeds received by such Participant from sales of Registrable Notes or Exchange Notes,
as the case may be, exceeds the amount of any damages that such Participant has otherwise been required to pay or has paid by reason of such untrue or alleged untrue statement or omission or alleged omission. No Person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. 
  
 (f) The indemnity and contribution agreements contained in this Section 7 will be in addition to any liability that the
Indemnifying Persons may otherwise have to the Indemnified Persons referred to above. 
  
 8. Rules 144 and 144A 
  
 The Issuer covenants and agrees that it will file the reports required to be filed by it under the Securities Act and the Exchange Act and the rules and regulations adopted by the SEC thereunder in a timely manner in accordance with the
requirements of the Securities Act and the Exchange Act and, if at any time the Issuer is not required to file such reports, the Issuer will, upon the request of any Holder or beneficial owner of Registrable Notes, make available such information
necessary to permit sales pursuant to Rule 144A under the Securities Act. The Issuer further covenants and agrees, for so long as any Registrable Notes remain outstanding, that it will take such further action as any Holder of Registrable Notes may
reasonably request, all to the extent required from time to time to enable such holder to sell Registrable Notes without registration under the Securities Act within the limitation of the exemptions provided by (a) Rule 144(k) and Rule 144A under
the Securities Act, as such Rules may be amended from time to time, or (b) any similar rule or regulation hereafter adopted by the SEC. 
  
 9. Miscellaneous 
  
 (a) No Inconsistent Agreements. The Issuer has not, as of the date hereof, and the Issuer shall not, after the date of this Agreement, enter into
any agreement with respect to any of its securities that is inconsistent with the rights granted to the Holders of Registrable Notes in this Agreement or otherwise conflicts with the provisions hereof. The rights granted to the Holders hereunder do
not in any way conflict with and are not inconsistent with the rights granted to the holders of the Issuer’s other issued and outstanding securities under any such agreements. 
  
 (b) Adjustments Affecting Registrable Securities. The Issuer shall not, directly or indirectly, take any action with
respect to the Registrable Notes that would adversely affect the ability of the Holders of Registrable Notes to include such Registrable Notes in a registration undertaken pursuant to this Agreement. 
  
 (c) Amendments and Waivers. The provisions of this Agreement may not
be amended, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given, otherwise than with the prior written consent of (I) the Issuer and 
  

 -21- 

 (II)(A) the Holders of not less than a majority in aggregate principal amount of the then outstanding Registrable Notes
and (B) in circumstances that would adversely affect the Participating Broker-Dealers, the Participating Broker-Dealers holding not less than a majority in aggregate principal amount or liquidation preference, as the case may be, of the Exchange
Notes held by all Participating Broker-Dealers; provided, however, that Section 7 and this Section 10(c) may not be amended, modified or supplemented without the prior written consent of each Holder and each Participating Broker-Dealer
(including any person who was a Holder or Participating Broker-Dealer of Registrable Notes or Exchange Notes, as the case may be, disposed of pursuant to any Registration Statement) affected by any such amendment, modification or supplement.
Notwithstanding the foregoing, a waiver or consent to depart from the provisions hereof with respect to a matter that relates exclusively to the rights of Holders of Registrable Notes whose securities are being sold pursuant to a Registration
Statement and that does not directly or indirectly affect, impair, limit or compromise the rights of other Holders of Registrable may be given by Holders of at least a majority in aggregate principal of the Registrable Notes being sold pursuant to
such Registration Statement. 
  
 (d) Notices. All notices
and other communications (including, without limitation, any notices or other communications to the Trustee) provided for or permitted hereunder shall be made in writing by hand-delivery, registered first-class mail, next-day air courier or
facsimile: 
  
 (i) if to a Holder of Registrable
Notes or any Participating Broker-Dealer, at the most current address of such Holder or Participating Broker-Dealer, as the case may be, set forth on the records of the registrar under the Indenture, as appropriate; and 
  
 (ii) if to the Issuer, at the address as follows:

  
 Flextronics International Inc. 
 Room 908 Dominion Centre 
 43-59
Queen’s Road East 
 Wanchi, Hong Kong 
 Attention: President 
  
 with a copy to: 
  
 FLEXTRONICS INTERNATIONAL LTD.

 2090 Fortune Drive 
 San
Jose, CA 95131 
 Attention: Investor Relations 
  
 Fenwick & West LLP 
 801 California
Street 
 Mountain View, CA 94041 
 Attention: David K. Michaels, Esq. 
  
 All such notices
and communications shall be deemed to have been duly given: when delivered by hand, if personally delivered; five business days after being deposited in the mail, postage prepaid, if mailed; one business day after being timely delivered to a
next-day air courier; and with confirmation of transmission, if sent by facsimile. 
  

 -22- 

 Copies of all such notices, demands or other communications shall be concurrently delivered by the Person
giving the same to the Trustee at the address and in the manner specified in the Indenture if such communication relates to the Notes, Exchange Notes or Private Exchange Notes. 
  
 (e) Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and
assigns of each of the parties hereto, the Holders and the Participating Broker-Dealers; provided, however, that this Agreement shall not inure to the benefit of or be binding upon a successor of assign of a Holder or a Participating
Broker-Dealer unless and to the extent such successor or assign holds Registrable Notes. 
  
 (f) Counterparts. This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of
which taken together shall constitute one and the same agreement. 
  
 (g) Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof. 
  

(h) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, AS APPLIED TO
CONTRACTS MADE AND PERFORMED ENTIRELY WITHIN THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. EACH OF THE PARTIES HERETO AGREES TO SUBMIT TO THE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK IN ANY ACTION OR PROCEEDING
ARISING OUT OF OR RELATING TO THIS AGREEMENT. 
  
 (i)
Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set
forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their best efforts to find and employ an alternative means to achieve the same or substantially the same
result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without
including any of such that may be hereafter declared invalid, illegal, void or unenforceable. 
  
 (j) Notes Held by the Issuer or Its Affiliates. Whenever the consent or approval of Holders of a specified percentage of Registrable Notes is required hereunder, Registrable Notes held by the Issuer or its
affiliates (as such term is defined in Rule 405 under the Securities Act) shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage. 
  

 -23- 

 (k) Third-Party Beneficiaries. Holders of Registrable Notes, and Participating Broker-Dealers are
intended third-party beneficiaries of this Agreement, and this Agreement may be enforced by such Persons. 
  
 (l) Entire Agreement. This Agreement and together with the Purchase Agreement and the Indenture are intended by the parties as a final and
exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein and therein and any and all prior oral or written agreements, representations, or warranties, contracts, understandings,
correspondence, conversations and memoranda between the Holders on the one hand and the Issuer on the other, or between or among any agents, representatives, parents, subsidiaries, affiliates, predecessors in interest or successors in interest with
respect to the subject matter hereof and thereof are merged herein and replaced hereby. 
  
 [Signature Page Follows] 
  

 -24- 

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

			
	FLEXTRONICS INTERNATIONAL LTD.
		
	By:	 	 /s/ Robert R.B. Dykes

	Name:	 	Robert R.B. Dykes
	Title:	 	Chief Financial Officer

  

 S-1 

 The foregoing Agreement is hereby confirmed 
 and accepted as of the date first above written. 
  
 CREDIT SUISSE FIRST BOSTON LLC 
 DEUTSCHE BANK SECURITIES, INC. 
 BANC OF AMERICA SECURITIES LLC 
 CITIGROUP GLOBAL MARKETS INC. 
 LEHMAN BROTHERS INC. 
 BNP PARIBAS SECURITIES CORP. 
 MCDONALD INVESTMENTS INC. 
 RBC CAPITAL MARKETS CORPORATION 
 SCOTIA CAPITAL (USA) INC. 
 ABN AMRO INCORPORATED 
 HSBC
SECURITIES (USA) INC. 
 UBS SECURITIES LLC 
  

			
	By:	 	CREDIT SUISSE FIRST BOSTON LLC.,
	 	 	on behalf of the Initial Purchasers
		
	By:	 	 /s/ Kevin Tice

	Name:	 	Kevin Tice
	Title:	 	Managing Director

  

 S-2 

					
	By:	 	DEUTSCHE BANK SECURITIES INC.,
	 	 	on behalf of the Initial Purchasers
		
	By:	 	 /s/ Alex Vitale

	Name:	 	Alex Vitale
	Title:	 	Managing Director

  

 S-3Amendment No. 2 to Commitment Agreement, dated November 15, 2004

 Exhibit 10.3 
  
 AMENDMENT NO. 2 TO COMMITMENT AGREEMENT 
  
 As of November 15, 2004 
  
 To the Subscribers under the 
 Commitment Agreement referred to below

  
 Ladies and Gentlemen: 
  
 Reference is made to the Commitment Agreement, dated as of February 23,
2004, entered into by and among Oglebay Norton Company and the other parties (the “Subscribers”) signatory thereto, as amended by Amendment No. 1 to the Commitment Agreement, dated as of June 29, 2004 (the “Agreement”). Defined
terms used but not otherwise defined herein shall have the meaning ascribed to them in the Agreement. 
  
 In connection with the Company’s Second Amended Joint Plan of Reorganization of Debtors and Debtors in Possession as modified and dated July 30, 2004
and as further modified and filed with or submitted to the Bankruptcy Court on September 24, September 28 and October 1, 2004 (the “Plan Modifications”) (as so modified, the “Amended Plan”) and the approval by the Bankruptcy
Court on August 4, 2004 of the Second Amended Disclosure Statement Pursuant to Section 1125 of the Bankruptcy Code for the Amended Plan, as modified and dated July 30, 2004 (the “Disclosure Statement”), the parties have agreed to amend the
Agreement (1) to accurately reflect the treatment of the holders of claims under the MLO Contract in the Amended Plan, (2) to accurately reflect the treatment of the Senior Notes in the Amended Plan, (3) to accurately reflect the treatment of the
Subordinated Notes in the Amended Plan, (4) to amend the Company’s obligation with respect to the exit financing contemplated by the Silverpoint Commitment Letter, (5) to include the agreement of the Subscribers to support confirmation and
consummation of the Amended Plan, (6) to amend and restate the terms of the Offering and the conditions precedent to the Subscribers’ obligation to perform their obligations under the Agreement, (7) to change the date on which the
non-completion of the Restructuring Transaction will become a Termination Event from October 15, 2004 to December 15, 2004, (8) to change the date prior to which the Registration Statement relating to the Offering shall be declared effective from
September 23, 2004 to November 15, 2004, (9) to acknowledge the discussions and negotiations being conducted with certain third parties and the existence of certain objections to the Amended Plan as well as the adversary proceeding commenced against
the Company and others by certain holders of Senior Notes, (10) to amend Exhibit A to the Agreement to accurately reflect the Restructuring Terms as set forth and described in the Amended Plan and the Disclosure Statement (as modified by the Plan
Modifications) and (11) to amend and restate on Schedule 1 attached hereto the respective beneficial ownership of Subordinated Notes, Commitment Amounts and Commitment Fees of each of the Subscribers as of the date hereof and reflect the
substitution as Noteholders of successors in interest to certain of the original Noteholders who were parties to the Agreement. 

 Upon receipt of the Requisite Subscribers’ consent as described herein, the Agreement shall be
amended as follows: 
  
 1. Preliminary Statement C of the
Agreement shall be deleted in its entirety and replaced by the following: 
  
 “Under the terms and upon the effective date of the Plan (the “Effective Date”), (i) existing classes of equity in the Company and interests therein will be cancelled and the holders thereof will
receive the treatment provided for in the Term Sheet, and (ii) the Company’s 10% Senior Subordinated Notes due 2009 (the “Subordinated Notes”) will be cancelled and the Company will, in exchange therefore, issue shares of
common stock of the reorganized Company (the “Common Stock”) as contemplated in the Amended Plan and the Disclosure Statement (as modified by the Plan Modifications). The Company and the Subscribers agree that the MLO earn-out
contract claims under the Interest Purchase Agreement among the Company, Johnson Mining, Inc., The Cary Mining Company Inc., Michigan Minerals Associates, Inc., and Michigan Limestone Operations Limited Partnership, dated April 14, 200 (the
“MLO Contract”), should be amended as described in the Disclosure Statement and, as of the Effective Date, should be assumed by the reorganized Company.” 
  
 2. Preliminary Statement D of the Agreement shall be deleted in its entirety and replaced by the following: 
  
 “In connection with the Amended Plan, the Company will implement, among
other things, an offering (the “Offering”) registered under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to which the Company will extend to the holders of the Subordinated Notes not party
to this Agreement the right to subscribe for their pro rata share (based on their respective beneficial ownership of the total of $100 million principal amount of outstanding Subordinated Notes) of $80 million of shares of convertible
preferred stock of the reorganized Company (the “Preferred Shares”) having the rights and preferences set forth in the Term Sheet attached hereto as Exhibit A (the “Term Sheet”). Pursuant to this Agreement, the
Company will offer and sell to (i) holders of Subordinated Notes party to this Agreement their pro rata share of $80 million of Preferred Shares and (ii) holders of Subordinated Notes and Third Party Investors parties to this Agreement
having Standby Commitments (as defined herein) the Preferred Shares not subscribed for in the Offering, and those holders of Subordinated Notes and Third Party Investors will purchase such Preferred Shares. In addition, the Company will offer and
sell to those holders of Subordinated Notes and Third Party Investors having Standby Commitments, and those holders of Subordinated Notes and Third Party Investors will purchase, additional Preferred Shares for an aggregate purchase price of $5
million. The Company will offer and sell 
  

 2 

 those Preferred Shares under this Agreement in reliance on Section 4(2) of the Securities Act. In
addition, the Company will prepare and file with the Securities and Exchange Commission (the “SEC”) a resale registration statement covering the Preferred Shares sold pursuant to this Agreement and the underlying Common Stock (the
“Resale Registration Statement”).” 
  
 3.
Preliminary Statement E of the Agreement shall be deleted in its entirety and replaced by the following: 
  
 “E. The Noteholders hold the principal amount of Subordinated Notes set forth opposite their respective names on Schedule 1 to Amendment No. 2 of
this Agreement, which represents approximately 37.3% of the aggregate amount of Subordinated Notes outstanding.” 
  
 4. Preliminary Statement F of the Agreement shall be deleted in its entirely and replaced by the following: 
  
 “F. The proceeds from the issuance of the Preferred Shares will be used
to fund the redemption of the Company’s outstanding Senior Secured Notes due 2008 (the “Senior Notes”), subsequent to their reinstatement on the Effective Date pursuant to the Amended Plan.” 
  
 5. Section 1(a) of the Agreement shall be deleted in its entirety and
replaced by the following: 
  
 “(a) Each Noteholder agrees
to purchase that number of Preferred Shares having an aggregate Purchase Price (defined below) equal to such Noteholder’s pro rata share of $80 million based on such Noteholder’s respective beneficial ownership of $100
million principal amount of outstanding Subordinated Notes as set forth opposite their respective names on Schedule 1 to Amendment No. 2 to this Agreement (the “Basic Commitment Amount”). In addition, each Noteholder and each Third
Party Investor agrees to purchase (the “Standby Commitment”) Preferred Shares issuable pursuant to the Offering that are not subscribed for and purchased by holders of the Subordinated Notes other than the Noteholders
(“Unsubscribed Shares”) having an aggregate Purchase Price (the “Standby Commitment Amount”) determined as follows: (i) each Noteholder’s Standby Commitment shall equal up to that number of Unsubscribed Shares
having an aggregate Purchase Price equal to the difference between (x) such Noteholder’s Commitment Amount set forth opposite its name on Schedule 1 to Amendment No. 2 to this Agreement and (y) such Noteholder’s Basic Commitment Amount set
forth opposite its name on Schedule 1 to Amendment No. 2 to this Agreement; and (ii) each Third-Party Investor’s Standby Commitment shall equal up to that number of Unsubscribed Shares having an aggregate Purchase Price equal to such
Third-Party Investor’s Commitment Amount set forth opposite its 
  

 3 

 name on Schedule 1 to Amendment No. 2 to this Agreement. If the aggregate Purchase Price of the
Unsubscribed Shares is less than the aggregate Standby Commitment Amounts of the Noteholders and Third-Party Investors, the Unsubscribed Shares shall be allocated to the Noteholders and the Third-Party Investors pro rata based upon the
amounts of their respective Standby Commitment Amounts. In addition to the Preferred Shares having an aggregate purchase price of $80 million that are subject to the Offering and the Noteholders’ Basic Commitment Amount and notwithstanding the
provisions of Exhibit A to this Agreement, each Noteholder having a Standby Commitment and each Third Party Investor agrees to purchase, and the Company agrees to issue and sell to such Noteholders and Third Party Investors, a pro rata
portion of that number of Preferred Shares having an aggregate purchase price of $5 million, such pro rata portions to be based upon such Subscribers’ respective Standby Commitment Amounts. For the avoidance of doubt, in no event
shall any Subscriber be obligated to purchase Preferred Shares for an aggregate Purchase Price in excess of such Subscriber’s Commitment Amount.” 
  
 6. Section 1(c) of the Agreement shall be deleted in its entirety and replaced by the following: 
  
 “(c) Use of Proceeds. The proceeds from the issuance and sale of
the Preferred Shares will be applied by the Company to the redemption of the Senior Notes, subsequent to their reinstatement on the Effective Date pursuant to the Amended Plan.” 
  
 7. Section 2 of the Agreement shall be deleted in its entirety and replaced by the following: 
  
 “The offer and sale of the Preferred Shares to holders of the
Subordinated Notes not party to this Agreement will be registered under the Securities Act. The Company agrees, unless waived by Subscribers representing two-thirds of the aggregate Commitment Amounts pursuant to this Agreement (the
“Requisite Subscribers”), to prepare and file with the SEC an amendment to the registration statement under the Securities Act with respect to the Offering of the Preferred Shares (the “Registration Statement”) as
soon as practicable and to use its reasonable best efforts to cause the Registration Statement to become effective as soon as possible thereafter and, in any event, prior to November 15, 2004 (or such later date as may be reasonably requested and
agreed by the Requisite Subscribers). The terms and conditions of the Offering will be consistent with the Restructuring Terms, including the deposit of the Purchase Price and stock certificates, to the extent applicable, representing the Preferred
Shares in escrow until the Effective Date or termination of the Plan by the Company. In addition, the Company agrees to prepare and file with the SEC as soon as practicable the Resale Registration Statement and to use 
  

 4 

 its reasonable best efforts to cause the Resale Registration Statement to become effective on the
Effective Date. Pursuant to the Amended Plan, on the Effective Date the Company will enter into a registration rights agreement substantially in the form of Exhibit B to Amendment No. 2 to this Agreement. The Company will afford the Subscribers and
their counsel and financial advisors the opportunity to review and comment on the Registration Statement, the Resale Registration Statement and any amendments or supplements thereto prior to the filing thereof with the SEC.” 
  
 8. Section 3(b) of the Agreement shall be amended by adding the following
proviso to the end thereof: 
  
 “provided,
however, that the fee of certain Third Party Investors shall be two percent (2%) as indicated on Schedule 1 to Amendment No. 2 to this Agreement.” 
  

9. Section 4(a) of the Agreement shall be amended by adding the following new sentence to the end thereof: 
  
 “The foregoing representations and warranties do not take into account
(i) the objections filed by various parties to the Amended Plan, (ii) the adversary proceeding commenced against the Company and others by certain holders of the Senior Notes or (iii) the consequences of a ruling adverse to the Company in connection
with either such objections or such adversary proceeding.” 
  
 10. Section 5(a)(ii) of the Agreement shall be deleted in its entirety and replaced by the following: 
  
 “(ii) shall execute definitive agreements regarding the Confirmation Facility (as defined in the Amended Plan) consistent in all material respects
with the terms thereof attached as an Exhibit to the Amended Plan.” 
  
 11. Section 5(g) of the Agreement shall be deleted in its entirety and replaced by the following: 
  
 “(g) The parties agree to the amendment of the MLO Contract substantially as set forth in Exhibit III.C.2 to the Amended Plan and the assumption of
the MLO Contract as so amended on the Effective Date of the Plan.” 
  
 12. Section 5 of the Agreement shall be amended by adding the following new Section 5 (h) thereto: 
  
 “(h) Amended Plan Support. Each Noteholder shall take (and shall cause its affiliates to take) all necessary and appropriate actions to
support 
  

 5 

 confirmation and consummation of the Amended Plan containing terms and conditions consistent in all
material respects with the Amended Plan in accordance with the Bankruptcy Code as expeditiously as possible and shall not and shall cause its affiliates not to object, or solicit objections or support any such objection by a third party, to
confirmation of such Amended Plan; provided, however, that (i) nothing contained herein shall limit the ability of each Noteholder to consult with the Company or its representatives and advisors, or to appear and be heard, concerning any
matter arising in the Chapter 11 Cases (as defined in the Amended Plan) so long as such consultation or appearance is not inconsistent with the terms of such Amended Plan and this Agreement; and (ii) this Agreement shall not be construed to require
any Noteholder to support or have any obligation with respect to any plan other than such Amended Plan. Notwithstanding anything to the contrary herein, nothing herein shall require any Noteholder (or representative thereof that is also a director
or officer of the company or a member of a statutory committee established in the Chapter 11 Cases) to take or to refrain from taking any action (x) in such person’s capacity as such a director or officer or member to the extent required to
comply with their fiduciary obligations under law applicable to such director or officer or member (including the Bankruptcy Code) or (y) in connection with supporting, participating in, voting for or entering into an alternative proposal or plan
that a majority of the members of the Creditors’ Committee (as defined in the Amended Plan) who are not Noteholders determines, in good faith after consultation with its legal and/or financial advisors, is reasonably likely to be consummated
(taking into account all legal, financial, and regulatory aspects of the proposal) and is superior, from a financial point of view, to the holders of the Subordinated Notes.” 
  
 13. Section 6(a) of the Agreement shall be deleted in its entirety and replaced by the following: 
  
 6. Conditions Precedent. 
  
 (a) The obligation of each Subscriber to perform its
obligations hereunder shall be subject to the following conditions which can be waived only by the Requisite Subscribers: 
  
 (i) the fees and expenses referred to in Section 3(c) hereof shall have been paid in full; 
  
 (ii) the Company shall have entered into the Confirmation
Facility consistent in all material respects with the terms thereof filed as an Exhibit to the Amended Plan; 
  
 (iii) an amended plan, containing terms and conditions consistent in all material respects with the Amended Plan, shall have been

  

 6 

 confirmed by the Bankruptcy Court pursuant to an order (the “Confirmation Order”) that (x) is
consistent in all material respects with the Amended Plan, (y) contains a finding of ‘good faith’ with respect to the participation in the Amended Plan of each Noteholder and (z) does not modify in any respect the recoveries or the
treatment provided by such Amended Plan for Class 7 (Old Senior Subordinated Note Claims) or establish or permit any claim or encumbrance on any part of such recoveries (except as contemplated in the Amended Plan and the Disclosure Statement (as
modified by the Plan Modifications)), and such Confirmation Order shall have become a final order; 
  
 (iv) the Amended Plan shall be consummated on terms consistent in all material respects with the Amended Plan and the Disclosure Statement
(as modified by the Plan Modifications); 
  
 (v)
the representations and warranties of the Company contained herein shall be true and correct in all material respects on and as of the date hereof and the Effective Date, with the same force and effect as though made on and as of such date, except
to the extent that any representation or warranty is made as of a specified date, in which case such representation or warranty shall be true and correct as of such specified date, and the Company shall have performed or complied with, in all
material respects, its covenants required to be performed or complied with under this Agreement (and the Company shall have delivered to the Subscribers a certificate signed by an authorized executive to the effect that each of the conditions
specified in this subsection (a)(v) is satisfied in all respects); 
  
 (vi) the Registration Statement relating to the Offering shall have become effective and the issuance of the Preferred Shares issuable pursuant to the Offering (including the shares of Common Stock issuable upon
conversion thereof) shall have been duly registered under the Securities Act and the Offering shall have expired; 
  
 (vii) the Resale Registration Statement filed by the Company pursuant hereto shall have been amended to reflect the results of the
Offering and disclose the respective numbers of Preferred Shares being registered for resale on behalf of each of the Subscribers; 
  
 (viii) the Company shall have executed and delivered to the Subscribers a registration rights agreement substantially in the form attached
as Exhibit B to Amendment No. 2 to this Agreement; and 
  
 (ix) the issuance of the shares of Common Stock to the holders of the Subordinated Notes in respect of the cancellation thereof in accordance with the Amended Plan and the Disclosure Statement (as modified by the Plan Modifications) shall
be exempt from the registration requirements of the Securities Act by virtue of Section 1145 of the Bankruptcy Code.” 
  

 7 

 14. Section 6(b)(v) of the Agreement shall be deleted in its entirety. 
  
 15. Section 7(a)(vi) of the Agreement shall be deleted in its entirety and
replaced by the following: “(vi) [intentionally omitted].” 
  
 16. Section 7(a)(vii) of the Agreement shall be deleted in its entirety and replaced by the following: 
  
 “(vii) the Restructuring Transaction is not completed by December 15, 2004” 
  
 17. Section 7(a) of the Agreement shall be amended by adding the following new sentence to the end thereof: 
  
 “Notwithstanding clause (iv) of the preceding sentence or Section 5(b)
of this Agreement, no Termination Event or breach of Section 5(b) of this Agreement shall be deemed to have occurred as a result of the furnishing of information to the Consortium (as defined in the Disclosure Statement under the caption
“Consortium Letters of Intent”) or the participation by the Company, at the request or with the prior consent of the Creditors’ Committee (as defined in the Amended Plan), in discussions or negotiations with the Consortium with
respect to any Alternative Proposal made by the Consortium.” 
  
 18. The Term Sheet attached as Exhibit A to the Agreement shall be deemed amended to the extent necessary to conform to the Restructuring Terms (including, without limitation, (i) the treatment of the Senior Note claim, the Subordinated
Note claim, the MLO Contract claims and the General Unsecured Claims, (ii) the terms of the New Preferred Shares, the Warrants and the DIP/Exit Facility and (iii) the terms and conditions of the Offering and the sale of the Preferred Shares), as set
forth and described in the Amended Plan and the Disclosure Statement (as modified by the Plan Modifications) and the Agreement as amended hereby. 
  
 19. The terms of the Management Incentive Plan, the Management Stock Plan and the Change in Control Agreements (each as defined or referred to in the
Amended Plan) as set forth in Exhibit I.A.51, Exhibit I.A.52 and Exhibit IV.C.3.a, respectively, to the Amended Plan are hereby approved. 
  
 20. Schedule 1 attached hereto hereby amends and restates the respective beneficial ownership of Subordinated Notes, Commitment Amounts and Commitment
Fees of each of the Subscribers as set forth on the signature pages of the original Agreement and Schedule 1 to Amendment No. 1 to the Agreement to reflect as of the date hereof changes in beneficial ownership of Subordinated Notes by certain
Noteholders and the substitution as Noteholders of successors in interest to certain of the original Noteholders who were parties to the Agreement. Each of the Subscribers hereby confirms the information set forth opposite its name on Schedule 1
attached hereto. 
  

 8 

 21. In order to facilitate the Offering of rights to purchase Preferred Shares to holders of Subordinated
Notes who are not parties to this Agreement, each Noteholder agrees, at the Company’s request, to promptly confirm in writing or by email that its beneficial ownership of Subordinated Notes remains as set forth on Schedule 1 or, if such
beneficial ownership has been reduced or increased, the principal amount of Subordinated Notes then owned by the Noteholder. 
  
 The delivery to the Company of this letter duly executed by you will evidence your agreement to the amendments to the Agreement set forth above. These
amendments will become effective, and binding upon the Company and all of the Subscribers, upon delivery to the Company of copies of this letter duly executed by the Requisite Subscribers. 
  
 The provisions of Section 14 of the Agreement relating to counterparts and
facsimile signatures shall be applicable to this Amendment No. 2 to the Agreement. 
  
 [The balance of this page has been intentionally left blank.] 
  

 9 

 Except as amended hereby, the Agreement shall remain in full force and effect in accordance with its
terms. 
  

			
	 Very truly yours,

	
	OGLEBAY NORTON COMPANY
		
	 By:
	 	 /s/ Rochelle F. Walk

	 Name:
	 	 Rochelle F. Walk

	 Title:
	 	 Vice President, General Counsel and Secretary

  

 10 

 NOTEHOLDERS: 
  
 SUBSCRIBERS 
  

			
	Airlie Opportunity Master Fund, LTD.
		
	 By:
	 	 /s/ Adam Goodfriend

	 Name:
	 	 Adam Goodfriend

	 Title:
	 	 Managing Director

	
	Thomas G. Berlin
	
	 /s/ Thomas G. Berlin

	
	Christopher R. Siegel
		
	 By:
	 	 /s/ Christopher R. Siegel

	
	H. Sheppard Boone
		
	 By:
	 	 /s/ H. Sheppard Boone

	
	Neil Janovic
		
	 By:
	 	 /s/ Neil Janovic

	
	Adam Janovic
		
	 By:
	 	 /s/ Adam Janovic

	
	Thomas Boucher
		
	 By:
	 	 /s/ Thomas Boucher

			
	Thomas DiTosto
		
	 By:
	 	 /s/ Thomas DiTosto

	
	Connecticut General Life Insurance
		
	 By:
	 	 /s/ Leon Meyers

	 Name:
	 	 Leon Meyers

	 Title:
	 	 Senior Vice President

	
	Evan Janovic
		
	 By:
	 	 /s/ Evan Janovic

	
	Robert Altman
		
	 By:
	 	 /s/ Ronald Altman

	
	John Dougherty
		
	 By:
	 	 /s/ John Dougherty

	
	Ramer 1990 Living Trust
		
	 By:
	 	 /s/ Lawrence Ramer

	 Name:
	 	 Lawrence Ramer

	 Title:
	 	 Trustee

  

 12 

			
	Ingalls & Snyder Value Part. L.C.
		
	 By:
	 	 /s/ Thomas Boucher

	 	 	

	 Name:
	 	 Thomas Boucher

	 Title:
	 	 General Partner

	
	Shannah Ferguson
		
	 By:
	 	 /s/ Shannah Ferguson

	 	 	

	
	Theresa M. Foote
		
	 By:
	 	 /s/ Theresa M. Foote

	 	 	

	
	Kenneth J. Foote IRA
		
	 By:
	 	 /s/ Kenneth J. Foote

	 	 	

	 Name:
	 	 Kenneth J. Foote

	
	William Robert Thomas Trust
		
	 By:
	 	 /s/ Shirley A. Foote

	 	 	

	 Name:
	 	 Shirley A. Foote

	 Title:
	 	 Trustee

	
	Abigail Foote Thomas Trust
		
	 By:
	 	 /s/ Shirley A. Foote

	 	 	

	 Name:
	 	 Shirley A. Foote

	 Title:
	 	 Trustee

  

 13 

			
	Lynn Foote
		
	 By:
	 	 /s/ Lynn Foote

	 	 	

	
	Steadfast LLC
		
	 By:
	 	 /s/ Steven M. Foote

	 	 	

	 Name:
	 	 Steven M. Foote

	 Title:
	 	 Manager

	
	Blythefield Farms LLC
		
	 By:
	 	 /s/ Kenneth J. Foote

	 	 	

	 Name:
	 	 Kenneth J. Foote

	 Title:
	 	 Manager

	
	Richard Groenendyke
		
	 By:
	 	 /s/ Richard Groenendyke

	 	 	

	
	Heritage Mark Foundation
		
	 By:
	 	 /s/ Kenneth J. Foote

	 	 	

	 Name:
	 	 Kenneth J. Foote

	 Title:
	 	 Trustee

	
	Bradford Shingleton Trust
		
	 By:
	 	 /s/ Brad Shingleton

	 	 	

	 Name:
	 	 Brad Shingleton

	 Title:
	 	 Trustee

  

 14 

			
	Elizabeth A. Shingleton Trust
		
	 By:
	 	 /s/ Shirley A. Foote

	 	 	

	 Name:
	 	 Shirley A. Foote

	 Title:
	 	 Trustee

	
	Jennifer C. Shingleton Trust
		
	 By:
	 	 /s/ Shirley A. Foote

	 	 	

	 Name:
	 	 Shirley A. Foote

	 Title:
	 	 Trustee

	
	Rebecca M. Shingleton Trust
		
	 By:
	 	 /s/ Shirley A. Foote

	 	 	

	 Name:
	 	 Shirley A. Foote

	 Title:
	 	 Trustee

	
	Brad Shingleton
		
	 By:
	 	 /s/ Brad Shingleton

	 	 	

	
	David Shuldiner
		
	 By:
	 	 /s/ David Shuldiner

	 	 	

	
	Kenneth P. Singleton
		
	 By:
	 	 /s/ Kenneth P. Singleton

	 	 	

  

 15 

			
	CFG Trust
		
	 By:
	 	 /s/ Cheryl F. Groenendyke

	 	 	

	 Name:
	 	 Cheryl F. Groenendyke

	 Title:
	 	 Trustee

	
	Martin L. Solomon
		
	 By:
	 	 /s/ Martin L. Solomon

	 	 	

	
	WCI Steel, Inc. Defined Pension Benefit Plan
	By:	 	Banc One High Yield Partners, LLC
		
	 By:
	 	 /s/ James P. Shanahan, Jr.

	 	 	

	 Name:
	 	 James P. Shanahan, Jr.

	 Title:
	 	 Manager

	
	Legacy Aggressive High Yield Fund
	By:	 	Banc One High Yield Partners, LLC
		
	 By:
	 	 /s/ James P. Shanahan, Jr.

	 	 	

	 Name:
	 	 James P. Shanahan, Jr.

	 Title:
	 	 Managing Director/General Counsel

	
	Southern UTE Permanent Fund
	By:	 	Banc One High Yield Partners, LLC
		
	 By:
	 	 /s/ James P. Shanahan, Jr.

	 	 	

	 Name:
	 	 James P. Shanahan, Jr.

	 Title:
	 	 Manager

  

 16 

			
	Pacholder High Yield Fund, Inc.
	By:	 	Banc One High Yield Partners, LLC
		
	 By:
	 	 /s/ James P. Shanahan, Jr.

	 	 	

	 Name:
	 	 James P. Shanahan, Jr.

	 Title:
	 	 Secretary

	
	One Group Income Bond Fund
	By:	 	Banc One High Yield Partners, LLC
		
	 By:
	 	 /s/ James P. Shanahan, Jr.

	 	 	

	 Name:
	 	 James P. Shanahan, Jr.

	 Title:
	 	 Manager

	
	One Group High Yield Bond Fund
	By:	 	Banc One High Yield Partners, LLC
		
	 By:
	 	 /s/ James P. Shanahan, Jr.

	 	 	

	 Name:
	 	 James P. Shanahan, Jr.

	 Title:
	 	 Manager

	
	THIRD PARTY INVESTORS
	
	Robert T. Clutterbuck Trust
		
	 By:
	 	 /s/ Robert T. Clutterbuck

	 	 	

	 Name:
	 	 Robert T. Clutterbuck

	 Title:
	 	 Trustee

	
	John Stein
		
	 By:
	 	 /s/ John Stein

	 	 	

  

 17 

			
	Steven N. Stein
		
	 By:
	 	 /s/ Steven N. Stein

	 	 	

	
	Robert L. Gipson
		
	 By:
	 	 /s/ Robert L. Gipson

	 	 	

	
	Thomas L. Gipson
		
	 By:
	 	 /s/ Thomas L. Gipson

	 	 	

	
	Gator Investment Company
		
	 By:
	 	 /s/ Adam Janovic

	 	 	

	 Name:
	 	 Adam Janovic

	 Title:
	 	 Member

	
	Fledgling Associates LLC
		
	 By:
	 	 /s/ Edward Stern

	 	 	

	 Name:
	 	 Edward Stern

	 Title:
	 	 Manager

	
	Nikolaos Monoyios
		
	 By:
	 	 /s/ Nikolaos Monoyios

	 	 	

	
	Stifel Nicolaus & Company, Incorporated
		
	 By:
	 	 /s/ Ronald J. Kruszewski

	 	 	

	 Name:
	 	 Ronald J. Kruszewski

	 Title:
	 	 Chairman and Chief Executive Officer

  

 18 

 Schedule 1 
  

Noteholders 
  

													
	 Beneficial Holder

	  	Principal
Amount of
Notes
Beneficially
Owned

	  	Basic
Commitment
Amount

	  	Total
Commitment
Amount including
Standby
Commitment if
applicable

	  	Commitment
Fee

	 Airlie Opportunity Master Fund, LTD.1
	  	$	4,750,000	  	$	3,800,000	  	$	10,090,161	  	$	390,508
	 Altman, Robert
	  	$	500,000	  	$	400,000	  	$	400,000	  	$	8,000
	 Berlin, Thomas G.
	  	$	5,462,000	  	$	4,369,600	  	$	10,650,360	  	$	361,638
	 Blythefield Farms LLC
	  	$	100,000	  	$	80,000	  	$	80,000	  	$	1,600
	 Boone, H. Sheppard
	  	$	400,000	  	$	320,000	  	$	871,859	  	$	33,993
	 Boucher, Thomas
	  	$	10,000	  	$	8,000	  	$	597,423	  	$	29,631
	 CFG Trust
	  	$	250,000	  	$	200,000	  	$	200,000	  	$	4,000
	 Connecticut General Life Insurance
	  	$	2,000,000	  	$	1,600,000	  	$	1,600,000	  	$	32,000
	 DiTosto, Thomas
	  	$	320,000	  	$	256,000	  	$	807,183	  	 	32,679
	 Dougherty, John
	  	$	1,000,000	  	$	800,000	  	$	1,902,637	  	$	71,132
	 Ferguson, Shannah
	  	$	620,000	  	$	496,000	  	$	496,000	  	$	9,920
	 Foote, Lynn
	  	$	100,000	  	$	80,000	  	$	544,836	  	$	24,842
	 Kenneth J. Foote IRA
	  	$	100,000	  	$	80,000	  	$	80,000	  	$	1,600
	 Foote, Theresa M.
	  	$	400,000	  	$	320,000	  	$	320,000	  	$	6,400
	 Groenendyke, Richard
	  	$	120,000	  	$	96,000	  	$	96,000	  	$	1,920
	 Heritage Mark Foundation
	  	$	2,300,000	  	$	1,840,000	  	$	1,840,000	  	$	36,800
	 Ingalls & Snyder Value Part. L.C.
	  	$	8,700,000	  	$	6,960,000	  	$	20,988,418	  	$	840,621
	 Janovic, Adam
	  	$	150,000	  	$	120,000	  	$	120,000	  	$	2,400
	 Janovic, Evan
	  	$	300,000	  	$	240,000	  	$	240,000	  	$	4,800
	 Janovic, Neil
	  	$	400,000	  	$	320,000	  	$	320,000	  	$	6,400
	 Legacy Aggressive High Yield Fund
	  	$	150,000	  	$	120,000	  	$	120,000	  	$	2,400
	 One Group High Yield Bond Fund
	  	$	4,250,000	  	$	3,400,000	  	$	6,487,528	  	$	222,376
	 One Group Income Bond Fund
	  	$	500,000	  	$	400,000	  	$	400,000	  	$	8,000
	 Pacholder High Yield Fund, Inc.
	  	$	2,250,000	  	$	1,800,000	  	$	2,563,473	  	$	74,174
	 Ramer 1990 Living Trust
	  	$	200,000	  	$	160,000	  	$	160,000	  	$	3,000
	 Shingleton, Brad
	  	$	150,000	  	$	120,000	  	$	120,000	  	$	2,400
	 Brad Shingleton Trust
	  	$	175,000	  	$	140,000	  	$	140,000	  	$	2,800

	1	Successor in interest to Airlie Opportunity Fund, L.P. and Airlie Opportunity Fund Cayman, LTD. 

													
	 Beneficial Holder

	  	Principal
Amount of
Notes
Beneficially
Owned

	  	Basic
Commitment
Amount

	  	Total
Commitment
Amount including
Standby
Commitment if
applicable

	  	Commitment
Fee

	 Elizabeth A. Shingleton Trust
	  	$	100,000	  	$	80,000	  	$	80,000	  	$	1,600
	 Jennifer C. Shingleton Trust
	  	$	100,000	  	$	80,000	  	$	80,000	  	$	1,600
	 Shingleton, Kenneth P.
	  	$	100,000	  	$	80,000	  	$	80,000	  	$	1,600
	 Rebecca M. Shingleton Trust
	  	$	75,000	  	$	60,000	  	$	60,000	  	$	1,200
	 Siegel, Christopher R.
	  	$	300,000	  	$	240,000	  	$	792,399	  	$	32,420
	 Shuldiner, David
	  	$	75,000	  	$	60,000	  	$	60,000	  	$	1,200
	 Solomon, Martin L.
	  	$	150,000	  	$	120,000	  	$	1,094,264	  	$	51,113
	 Southern UTE Permanent Fund 2
	  	$	241,000	  	$	192,800	  	$	192,800	  	$	3,856
	 Steadfast LLC
	  	$	100,000	  	$	80,000	  	$	80,000	  	$	1,600
	 William Robert Thomas Trust
	  	$	150,000	  	$	120,000	  	$	120,000	  	$	2,400
	 Abigail Foote Thomas Trust
	  	$	200,000	  	$	160,000	  	$	160,000	  	$	3,200
	 WCI Steel, Inc. Defined Pension Benefit Plan
	  	$	100,000	  	$	80,000	  	$	80,000	  	$	1,600
	 Noteholders Total
	  	$	37,348,000	  	$	29,878,400	  	$	65,115,341	  	$	2,319,423

  
 Third Party Investors

  

							
	 Third Party Investor

	  	Commitment Amount

	  	Commitment Fee

	 Robert T. Clutterbuck Trust
	  	$	524,000	  	$	10,480
	 Fledgling Associates LLC
	  	$	5,540,194	  	$	277,010
	 Gator Investment Company
	  	$	1,108,039	  	$	55,402
	 Gipson, Robert L.
	  	$	3,324,116	  	$	166,206
	 Gipson, Thomas L.
	  	$	3,324,116	  	$	166,206
	 Monoyios, Nikolaus
	  	$	3,324,116	  	$	166,206
	 Stein, John
	  	$	1,108,039	  	$	55,402
	 Stein, Steven N.
	  	$	1,108,039	  	$	55,402
	 Stifel Nicolaus & Company, Incorporated
	  	$	524,000	  	$	10,480
	 Third Party Investors Total
	  	$	19,884,659	  	$	962,794

  

							
	 Overall Totals:
  
	  	Commitment Amount

	  	Commitment Fee

	 	  	$	85,000,000	  	$	3,282,217

	2	Successor in interest to Southern UTE Growth Fund. 

  

 - 2 - 

 EXHIBIT A 
  
 OGLEBAY NORTON COMPANY (“ONCO”) 
  
 Recapitalization Term Sheet 
 Proposal by the Ad Hoc Committee of Holders of Oglebay Norton 10% Senior 
 Subordinated Notes

 (the “Ad Hoc Committee”) 
  

			
	 Existing Bank
 Creditors:
 ($250 million)
	  	Receive cash at 100% of par value to be raised in debt by Reorganized ONCO from Silver Point Finance, LLC (“Silver Point”) pursuant to commitment letter dated February __, 2004 from
Silver Point to ONCO (the “Silver Point Commitment”) providing for loans totaling $305 million on the terms set forth in Exhibit A thereto (the “Silver Point Facility”).
		
	 Existing Senior Secured
 Notes: ($75 million 
 par)
	  	Receive cash at 100% of par value, plus accrued interest (estimated to be $5 million as of 12/31/03) to the effective date (the “Effective Date”) of the ONCO plan of reorganization
(the “Plan”). To be funded with proceeds of the sale of New Convertible Preferred Stock (as defined below).
		
	 Existing Senior
 Subordinated Notes:
 ($100 million)
	  	Holders of the 10.0% Senior Subordinated Notes (the “10% Notes”) (and, if applicable, the MLO earn-out claim and any other general unsecured claims that do not pass through bankruptcy
as unimpaired claims) shall receive freely tradeable shares of New Common Stock of Reorganized ONCO resulting in 100% pro forma ownership prior to dilution from the New Convertible Preferred Stock, the Management Options and the Warrants (each as
defined below). In addition, the 10% Noteholders will have preemptive rights to subscribe for their pro rata share (based on their respective beneficial ownership of 10% Notes) of the New Convertible Preferred Stock which shall have an aggregate
liquidation preference of $80 million and be convertible into shares of New Common Stock (“New Convertible Preferred Stock”) resulting in 70% ownership before dilution for the Management Options and the Warrants.

  

 - 3 - 

			
	 Existing Equity:
	  	As part of the Plan, holders of the existing equity shall receive warrants (the “Warrants”) exercisable for 30 days after the Effective Date to buy New Common Stock in an aggregate
amount of $5 million at a price equal to the Conversion Price (as defined below) for the New Convertible Preferred Stock.
		
	 General Unsecured,
 Asbestos and Silica
 Claims:
	  	Provided there are no material changes from the facts as represented by ONCO with respect to asbestos and silica claims, all general unsecured, executory contracts, asbestos and silica claims
will pass through bankruptcy as unimpaired claims; provided, however, that the Company may seek the assumption of the MLO earn-out contract either through the Plan or by assumption motion, provided that two-thirds in amount of the Committed
Noteholders and the New Investors may terminate the Commitment Agreement if they do not consent to such assumption. If the MLO earn-out contract claim is rejected, its holders will receive New Common Stock as described above.
		
	 Offering of New
 Convertible Preferred
 Stock:
	  	 Subject to obtaining Bankruptcy Court approval, the Company will file a registration statement under the Securities Act of 1933, as soon as
practicable after the filing of the Chapter 11 petition (the “Petition Date”) covering $80 million face amount of New Convertible Preferred Stock to be offered to the 10% Noteholders and third-party accredited investors (“New
Investors”); 10% Noteholders to have pre-emptive right to subscribe for their pro rata share of the New Convertible Preferred Stock based on their respective beneficial ownership of 10% Notes; ONCO to use its best efforts to have
the registration statement declared effective as soon as possible and in any event prior to August 23, 2004. The aggregate gross purchase price for all New Convertible Preferred Stock shall not exceed $80 million (unless otherwise agreed to by the
Subscribers after good faith negotiations with the Company) and proceeds of sale of New Convertible Preferred Stock will be held in escrow until the Effective Date of the Plan.
  
 This provision may be waived by the mutual agreement of Oglebay and two-thirds in amount of the Committed Noteholders and the New
Investors.

  

 - 4 - 

			
	 Preferred Stock
 Commitments:
	  	Certain of the existing 10% Noteholders (the “Committed Noteholders”) shall agree to exercise their subscription rights for their pro rata shares of the New Convertible
Preferred Stock (the “Basic Commitments”) and, together with New Investors, shall agree to purchase additional shares not subscribed for by other 10% Noteholders in amounts set forth opposite their respective signatures to the Commitment
Agreement to which this Term Sheet is attached (the “Standby Commitments”).
		
	 Commitment Fees:
	  	All Committed Noteholders will receive a 2% fee for New Convertible Preferred Stock which they are committed to acquire pursuant to their respective Basic Commitments and the Committed
Noteholders and New Investors will receive a 5% fee for all New Convertible Preferred Stock they are committed to acquire pursuant to their respective Standby Commitments. All fees to be paid in cash on Effective Date.
		
	 Conditions:
	  	As set forth in the Commitment Agreement, among the Company, the Committed Noteholders and the New Investors, to which this Term Sheet is attached.
		
	 New Convertible
 Preferred Stock:
	  	 
		
	 Liquidation
 Preference:
	  	$80 million, plus accrued and unpaid dividends
		
	 Dividend:
	  	The greater of (i) 10% annual rate or (ii) 200 basis points over the highest applicable interest rate payable on the Silver Point Facility, set as of the Effective Date, paid-in-kind quarterly
for first 3 years; paid in cash quarterly thereafter.
		
	 Voting:
	  	Votes on all matters together with the New Common Stock on an as-converted basis; elects four of seven member Board (subject to reduction as Preferred Shares are converted to New Common Stock);
has class vote as provided in Articles of Reorganized ONCO and as required by applicable law.
		
	 Ranking:
	  	Senior to all classes and series of Reorganized ONCO preferred and common stock, but junior to the Silver Point Facility and all bank debt and vessel loans.
		
	 Conversion Price:
	  	Price to be determined resulting in 70% ownership before dilution for Management Options.

  

 - 5 - 

			
	 Conversion
 Rights:
	  	Convertible at any time, at the option of the holder, on or after the date of issuance.
		
	 Optional
 Redemption
 Rights:
	  	Non-callable for the first 12 months; callable thereafter (i) for the second 12 months @ 110% of par, for the third 12 months at 108% of par, for the fourth 12 months at 106% of par and
thereafter at 104% of par if in each case the common stock trades at or above an average of 120% of the Conversion Price for 20 consecutive trading days provided that the average daily trading volume is at or above 5% of the outstanding common stock
during such period.
		
	 Board:
	  	Seven member board in compliance with applicable laws and listing requirements:3 four members will be appointed by the New Convertible Preferred Stockholders (subject to reduction as converted into New Common Stock); one member will be appointed by the existing Senior Subordinated Noteholders; two
members will be appointed by the current board/management.
		
	 Other:
	  	Traditional public company anti-dilution protections for New Convertible Preferred Stock.
		
	 Management Incentives:
	  	Terms of Management Options and employment agreements to be provided for in the Plan subject to prior approval by two-thirds in amount of the Committed Noteholders and New
Investors.

	3	Reorganized ONCO will be a public company and intends to seek listing of the New Common Stock and the New Convertible Preferred Stock on NASDAQ or NYSE.

  

 - 6 - 

 Exhibit B 
  
 FORM OF REGISTRATION RIGHTS AGREEMENT 
  
 This Registration Rights Agreement (this “Agreement”), dated as of
                    , 2004, is entered into by and among Oglebay Norton Company, an Ohio corporation (the “Company”) and the holders
of Subordinated Notes (as defined herein) signatories hereto (each, a “Noteholder” and, collectively, the “Noteholders”) and certain third party accredited investors signatory hereto (the “Third Party Investors” and,
together with the Noteholders, the “Subscribers”). 
  
 PRELIMINARY STATEMENTS 
  
 A. The Company and the
Subscribers are parties to that certain Commitment Agreement, dated as of February 23, 2004 (as heretofore amended, the “Commitment Agreement”), pursuant to which, among other things, the Subscribers agreed to purchase up to $85 million of
Preferred Shares (as defined in the Commitment Agreement) of the Company, the proceeds of which are to be used to fund the redemption of the Company’s outstanding Senior Secured Notes due 2008 (the “Senior Notes”) subsequent to the
reinstatement of the Senior Notes pursuant to the Second Amended Joint Plan of Reorganization of the Company and its subsidiaries dated July 30, 2004 (the “Amended Plan”) in connection with the Chapter 11 Case of the Company and its
subsidiaries. 
  
 B. As contemplated by the Commitment Agreement, the Company
filed a registration statement on Form S-1 (the “Primary Registration Statement”) relating to the Offering of Preferred Shares to holders of Subordinated Notes. The Company amended the Primary Registration Statement in order to limit the
Offering to holders of Subordinated Notes other than the Noteholders in an amount equal to their pro rata portion of $             million of Preferred Shares. The Primary
Registration Statement was declared effective by the Securities and Exchange Commission (the “SEC”) on                     , 2004
and pursuant to the Offering, which expired on                     , 2004, holders of Subordinated Notes have subscribed for an aggregate of
$             million of Preferred Shares. Accordingly, pursuant to, and subject to the terms and conditions of the Commitment Agreement, the Subscribers have agreed to purchase in
the aggregate $             million of Preferred Shares consisting of (i) $             million of Preferred Shares
representing the Noteholders’ Basic Commitment Amount (as defined in the Commitment Agreement), (ii) $             million of Preferred Shares pursuant to the Subscribers’
Standby Commitment (as defined in the Commitment Agreement) and (iii) $5 million of additional Preferred Shares. 
  
 C. Pursuant to Amendment No. 2 to the Commitment Agreement, the obligations of the Subscribers to purchase the Preferred Shares is conditional upon, among other things,
the Company having executed and delivered to the Subscribers this Registration Rights Agreement to provide the Subscribers certain rights as set forth herein. 
  

D. Defined terms used but not otherwise defined herein shall have the meanings ascribed to them in the Commitment Agreement or in the Amended Plan. 
  

 - 7 - 

 NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth in this Agreement, and for other good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
  

	1.	Registration of Resale of the Preferred Shares; Compliance with the Securities Act. 

  
 1.1 Registration Procedures and Expenses. The Company shall: 
  
 (i) use its reasonable best efforts to cause the
Registration Statement on Form S-1 (the “Registration Statement”) filed by the Company with the SEC pursuant to the Securities Act of 1933, as amended (the “Securities Act”) on
                    , 2004 with respect to the resale of the Preferred Shares (including the shares of Common Stock issuable upon conversion
thereof, collectively together with the Preferred Shares, the “Shares”) by the Subscribers from time to time in accordance with the methods of distribution set forth in the Registration Statement to be declared effective by the SEC as soon
as practicable; 
  
 (ii) prepare and file with
the SEC such amendments to the Registration Statement and such supplements to the prospectus used in connection therewith as may be necessary in the opinion of the Company to keep the Registration Statement effective until the earlier of (i)
twenty-four months after the effective date of the Registration Statement, (ii) such shorter period that will terminate when all the Shares covered by the Registration Statement have been sold pursuant thereto and (iii) the date on which the Shares
may be resold by the Subscribers without registration by reason of Rule 144(k) under the Securities Act or any other rule of similar effect; 
  
 (iii) furnish to each Subscriber (and to each underwriter, if any, of such Shares), at least one conformed copy of the Registration
Statement and any post-effective amendment thereto, including financial statements (but excluding all schedules, all documents incorporated or deemed incorporated therein by reference and all exhibits); 
  
 (iv) furnish to the Subscribers with respect to the Shares
registered under the Registration Statement (and to each underwriter, if any, of such Shares) such reasonable number of copies of prospectuses and any amendments or supplements thereto as each Subscriber may reasonably request, in order to
facilitate the public sale or other disposition of all or any of the Shares by the Subscribers; provided, however, that the obligation of the Company to deliver copies of prospectuses to any Subscriber shall be subject to the receipt by the Company
of reasonable assurances from the Subscriber that the Subscriber will comply with the applicable provisions of the Securities Act and of such other securities or blue sky laws as may be applicable in connection with any use of such prospectuses;

  
 (v) file documents required of the Company
for blue sky clearance in jurisdictions within the United States as the Subscribers reasonably request in writing; provided, however, that the Company shall not be required to qualify generally to do business or take any action which would subject
it to general service of process or taxation in any jurisdiction which it is not so subject; and 
  

 - 8 - 

 (vi) bear all expenses in connection with the preparation and filing of the Registration
Statement and the procedures in paragraphs (a) through (e) of this Section 1.1 and the registration of the Shares pursuant to the Registration Statement, other than fees and expenses, if any, of counsel or other advisers to the Subscribers or
underwriting discounts, brokerage fees, commissions and stock transfer taxes incurred by, or applicable to, any Subscriber. 
  
 1.2 Transfer of Shares After Registration. 
  
 (i) Each Subscriber agrees that it will not effect any disposition of the Shares that would constitute a sale within the meaning of the
Securities Act, except as contemplated in the Registration Statement referred to in Section 1.1, and that it will promptly notify the Company of any changes in the information set forth in the Registration Statement regarding the Subscriber or its
plan of distribution. In addition, the Company may require any Subscriber promptly to furnish in writing to the Company such information regarding the intended methods of distribution of the Shares as the Company may from time to time reasonably
request and such other information as may be legally required in connection with such registration including, without limitation, all such information as may be requested by the SEC or the National Association of Securities Dealers, Inc. The Company
may refuse to proceed with the registration of such Subscriber’s Shares if such Subscriber unreasonably fails to furnish such information within a reasonable time after receiving such request. The Company, upon the reasonable request of a
Subscriber, will meet with the Subscriber or a representative thereof at the Company’s headquarters to discuss information relevant for disclosure in the Registration Statement subject to appropriate confidentiality limitations. 
  
 (ii) Each Subscriber hereby covenants with the Company not
to make any sale of the Shares without satisfying the prospectus delivery requirement under the Securities Act. Each Subscriber further agrees that, in the case of Shares transferred through a broker, such Shares are not transferable on the books of
the Company unless the certificate submitted to the transfer agent evidencing the Shares is accompanied by a separate notice of transfer in the form of Appendix I hereto, executed by a broker designated by the Subscriber. Each Subscriber
acknowledges that there may occasionally be times when the Company must suspend the use of the prospectus forming a part of the Registration Statement until such time as a supplement to the prospectus has been filed with the SEC or an amendment to
the Registration Statement has been filed by the Company and declared effective by the SEC, or until such time as the Company has filed an appropriate report with the SEC pursuant to the Securities Exchange Act of 1934 (the “Exchange
Act”). The Subscriber hereby covenants that it will not sell any Shares pursuant to said prospectus during the period commencing at the time at which the Company gives the Subscriber written notice of the suspension of the use of said
prospectus and ending at the time the Company gives the Subscriber written notice that the Subscriber may thereafter effect sales pursuant to said prospectus. Each Subscriber further covenants to notify the Company promptly of the sale of any of its
Shares. 
  

 - 9 - 

 1.3 Indemnification. For the purpose of this Section 1.3, the term “Registration
Statement” shall include any final prospectus, exhibit, supplement or amendment included in or relating to the Registration Statement referred to in Section 1.1. 
  
 (i) The Company agrees to indemnify and hold harmless each of the Subscribers, their respective officers,
directors, employees and agents and each person, if any, who controls any Subscriber within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act (collectively, the “Subscriber Indemnified Persons”), against any
losses, claims, damages, liabilities or expenses, joint or several, to which such Subscriber or Subscriber Indemnified Person may become subject, under the Securities Act, the Exchange Act, or any other federal or state statutory law or regulation,
or at common law or otherwise (including in settlement of any litigation, if such settlement is effected with the written consent of the Company), insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof as
contemplated below) arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement, including the prospectus, financial statements and schedules, and all other documents
filed as a part thereof, as amended at the time of effectiveness of the Registration Statement, including any information deemed to be a part thereof as of the time of effectiveness pursuant to paragraph (b) of Rule 430A of the Rules and
Regulations, or the prospectus, in the form first filed with the Commission pursuant to Rule 424(b) of the Regulations, or filed as part of the Registration Statement at the time of effectiveness if no Rule 424(b) filing is required (the
“Prospectus”), or any amendment or supplement thereto, or arise out of or are based upon the omission or alleged omission to state in any of them a material fact required to be stated therein or necessary to make the statements in any of
them, in light of the circumstances under which they were made, not misleading, and will reimburse each Subscriber or such Subscriber Indemnified Person for any legal and other expenses as such expenses are reasonably incurred by such Subscriber or
such Subscriber Indemnified Person in connection with investigating, defending, settling, compromising or paying any such loss, claim, damage, liability, expense or action; provided, however, that the Company will not be liable in any such case to
the extent that any such loss, claim, damage, liability or expense arises out of or is based upon (i) an untrue statement or alleged untrue statement or omission or alleged omission made in the Registration Statement, the Prospectus or any amendment
or supplement thereto in reliance upon and in conformity with written information furnished to the Company by or on behalf of any Subscriber expressly for use therein, or (ii) the failure of any Subscriber to comply with the covenants and agreements
contained in Section 1.3 hereof respecting sale of the Shares, or (iii) any statement or omission in any Prospectus that is corrected in any subsequent Prospectus that was delivered to any Subscriber prior to the pertinent sale or sales by the
Subscriber. 
  
 (ii) Each Subscriber will
severally and not jointly indemnify and hold harmless the Company, each of its directors, officers, employees and agents and each person, if any, who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the
Exchange Act (collectively, the “Company Indemnified Persons”), against any losses, claims, damages, liabilities or expenses to which the Company or such Company Indemnified Person may become subject, under 
  

 - 10 - 

 the Securities Act, the Exchange Act, or any other federal or state statutory law or regulation, or at
common law or otherwise (including in settlement of any litigation, if such settlement is effected with the written consent of such Subscriber) insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof as
contemplated below) arise out of or are based upon (i) any failure by such Subscriber to comply with the covenants and agreements contained in Section 1.2 hereof respecting the sale of the Shares or (ii) any untrue or alleged untrue statement of any
material fact contained in the Registration Statement, the Prospectus, or any amendment or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or
necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged
omission was made in the Registration Statement, the Prospectus, or any amendment or supplement thereto, in reliance upon and in conformity with written information furnished to the Company by or on behalf of such Subscriber expressly for use
therein, and will reimburse the Company or such Company Indemnified Person for any legal and other expense reasonably incurred by the Company or such Company Indemnified Person in connection with investigating, defending, settling, compromising or
paying any such loss, claim, damage, liability, expense or action. 
  
 (iii) Promptly after receipt by an indemnified party under this Section 1.3 of notice of the threat or commencement of any action, such indemnified party will, if a claim in respect thereof is to be made against an
indemnifying party under this Section 1.3, promptly notify the indemnifying party in writing thereof; but the omission so to notify the indemnifying party will not relieve it from any liability which it may have to any indemnified party for
contribution or otherwise than under the indemnity agreement contained in this Section 1.3 or to the extent it has not been materially prejudiced as a result of such failure. In case any such action is brought against any indemnified party and such
indemnified party seeks or intends to seek indemnity from an indemnifying party, the indemnifying party will be entitled to participate in, and, to the extent that it may wish, jointly with all other indemnifying parties similarly notified, to
assume the defense thereof with counsel reasonably satisfactory to such indemnified party; provided, however, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have
reasonably concluded that there may be a conflict between the positions of the indemnifying party and the indemnified party in conducting the defense of any such action or that there may be legal defenses available to it and/or other indemnified
parties which are different from or additional to those available to the indemnifying party which, if the indemnifying party and the indemnified party were represented by the same counsel, could materially prejudice the prosecution of defenses or
actions available to the indemnified party, the indemnified party or parties shall have the right to select separate counsel to assume such legal defenses and to otherwise participate in the defense of such action on behalf of such indemnified party
or parties. Upon receipt of notice from the indemnifying party to such indemnified party of its election so to assume the defense of such action and approval by the indemnified party of counsel, the indemnifying party will not be liable to such
indemnified party under this Section 1.3 for any legal or other expenses subsequently incurred by such indemnified party in connection with the defense thereof unless (i) the 
  

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 indemnified party shall have employed such counsel in connection with the assumption of legal defenses in
accordance with the proviso to the preceding sentence (it being understood, however, that the indemnifying party shall not be liable for the expenses of more than one separate counsel, approved by such indemnifying party, representing the
indemnified parties who are parties to such action) or (ii) the indemnified party shall not have employed counsel reasonably satisfactory to the indemnified party to represent the indemnified party within a reasonable time after notice of
commencement of action, in each of which cases the reasonable fees and expenses of counsel shall be at the expense of the indemnifying party. 
  
 (iv) If the indemnification provided for in this Section 1.3 is required by its terms but is for any reason held to be unavailable to or
otherwise insufficient to hold harmless an indemnified party under paragraphs (a), (b) or (c) of this Section 1.3 in respect to any losses, claims, damages, liabilities or expenses referred to herein, then each applicable indemnifying party shall
contribute to the amount paid or payable by such indemnified party as a result of any losses, claims, damages, liabilities or expenses referred to herein (i) in such proportion as is appropriate to reflect the relative benefits received by the
Company and the Subscriber from the issuance of Preferred Shares or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in
clause (i) above but the relative fault of the Company and the Subscriber in connection with the statements or omissions or inaccuracies in the Registration Statement, the Prospectus or any amendment or supplement thereto which resulted in such
losses, claims, damages, liabilities or expenses, as well as any other relevant equitable considerations. The respective relative benefits received by the Company on the one hand and each Subscriber on the other shall be deemed to be in the same
proportion as the amount paid by such Subscriber to the Company pursuant to this Agreement for the Shares purchased by such Subscriber that were sold pursuant to the Registration Statement bears to the difference (the “Difference”)
between the amount such Subscriber paid for the Shares that were sold pursuant to the Registration Statement and the amount received by such Subscriber from such sale. The relative fault of such selling Subscriber and the Company shall be determined
by reference to, among other things, whether the untrue or alleged statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company or by such Subscriber and the parties’
relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The amount paid or payable by a party as a result of the losses, claims, damages, liabilities and expenses referred to above shall be
deemed to include, subject to the limitations set forth in paragraph (c) of this Section 1.3, any legal or other fees or expenses reasonably incurred by such party in connection with investigating or defending any action or claim. The provisions set
forth in paragraph (c) of this Section 1.3 with respect to the notice of the threat or commencement of any threat or action shall apply if a claim for contribution is to be made under this paragraph (d); provided, however, that no additional notice
shall be required with respect to any threat or action for which notice has been given under paragraph (c) for purposes of indemnification. The Company and each Subscriber agree that it would not be just and equitable if contribution pursuant to
this Section 1.3 were determined solely by pro rata allocation (even if the Subscribers were treated as one entity for such purpose) or by any 
  

 - 12 - 

 other method of allocation which does not take account of the equitable considerations referred to in
this paragraph. Notwithstanding the provisions of this Section 1.3, no Subscriber shall be required to contribute any amount in excess of the amount by which the Difference exceeds the amount of any damages that such Subscriber has otherwise been
required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from
any person who was not guilty of such fraudulent misrepresentation. The Subscribers’ obligations to contribute pursuant to this Section 1.3 are several and not joint. 
  
 1.4 Termination of Conditions and Obligations. The conditions precedent imposed by this Section 1 upon the
transferability of the Shares shall cease and terminate as to any particular number of the Shares upon the passage of twenty-four months from the effective date of the Registration Statement covering such Shares or at such time as an opinion of
counsel satisfactory in form and substance to the Company shall have been rendered to the effect that such conditions are not necessary in order to comply with the Securities Act. 
  
 1.5 Information from Subscribers. Each Subscriber will as expeditiously as possible (i) notify the Company of the
occurrence of any event that makes any statement made in the Registration Statement or the related prospectus regarding such Subscriber untrue in any material respect or that requires the making of any changes in the Registration Statement or the
related prospectus so that, in such regard, it will not contain any untrue statement of a material fact or omit any material fact required to be stated therein or necessary to make the statement not misleading and (ii) provide the Company with such
information as may be required to enable the Company to prepare a supplement or post-effective amendment to the Registration Statement or a supplement to the related prospectus. 
  

	2.	Liquidated Damages. If the Registration Statement has not been declared effective by the SEC on or prior to the 90th day after the Effective Date of the Amended Plan (a
“Registration Default”), the Company agrees to pay liquidated damages to each holder of Preferred Shares purchased pursuant to the Commitment Agreement for each day that the Registration Default continues at the annual rate of thirty cents
($.30) per share. All accrued liquidated damages shall be paid to such holders of Preferred Shares by the Company on the last day of each month during which a Registration Default occurs. Following the cure of all Registration Defaults with respect
to any particular Preferred Shares, the accrual of liquidated damages with respect to such Preferred Shares will cease. 

  

	3.	Notices. All notices, requests, consents and other communications hereunder shall be in writing, shall be mailed by first-class registered or certified airmail, or when
delivered by nationally recognized overnight express courier postage prepaid or delivered by facsimile transmission during standard business hours (from 8:00 a.m. to 6:00 p.m.), and shall be deemed given when so mailed or so delivered as addressed
as follows: 

  
 If to the Company: 
  

 - 13 - 

	
	 Oglebay Norton Company

	 North Point Tower

	 1001 Lakeside Avenue

	 Cleveland, Ohio 44114-1151

	 Phone: (216) 861-3300

	 Fax: (216) 861-2863

	 Attention: Chief Financial Officer

	
	 With a copy to:

	
	 Jones, Day, Reavis & Pogue

	 North Point

	 901 Lakeside Avenue

	 Cleveland, Ohio 44114

	 Phone: (216) 586-3939

	 Fax: (216) 579-0212

	 Attention: David P. Porter

  
 or to such other person at such other
place as the Company shall designate to the Subscriber in writing; and 
  
 (a) if
to a Subscriber, at its address as set forth at the end of this Agreement, or at such other address or addresses as may have been furnished to the Company in writing. 
  

	4.	Changes. This Agreement may not be modified or amended except pursuant to an instrument in writing signed by the Company and the Subscribers representing two-thirds of the
aggregate Shares outstanding at the time such amendment or modification is entered into. 

  

	5.	Headings. The headings of the various sections of this Agreement have been inserted for convenience of reference only and shall not be deemed to be part of this Agreement.

  

	6.	Severability. In case any provision contained in this Agreement should be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the
remaining provisions contained herein shall not in any way be affected or impaired thereby. 

  

	7.	Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without giving effect to the principles of conflict of
laws thereof, and the federal law of the United States of America. 

  

	8.	Counterparts. This Agreement may be executed in two or more counterparts, each of which shall constitute an original, but all of which, when taken together, shall constitute
but one instrument, and shall become effective when one or more counterparts have been signed by each party hereto and delivered to the other parties. 

  

 - 14 - 

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

			
	OGLEBAY NORTON COMPANY
		
	By:	 	  

	
	SUBSCRIBERS:
	
	[To be Completed]

  

 - 15 - 

 APPENDIX I 
  

BROKER’S NOTICE OF TRANSFER OF SECURITIES PURSUANT TO 
 REGISTRATION STATEMENT 
  
 Oglebay Norton
Company 
 North Point Tower 
 1001 Lakeside Avenue 
 Cleveland, Ohio 44114-1151 
  

			
	Re:	 	    Oglebay Norton Company (the “Company”)

  
 Ladies and Gentlemen: 
  
 Please be advised that
                                 has transferred
                         shares (the “Shares”) of Series A Convertible Preferred Stock on
                                 (date), pursuant to the Registration Statement on
Form S-1 (File No. 333-         ) filed by the Company: 
  
 We hereby certify that the prospectus delivery requirements, if any, of the Securities Act of 1933, as amended, have been satisfied with respect to the transfer described above and that the above-named beneficial
owner of the Shares is named as a selling stockholder in the Prospectus dated
                             or in amendments or supplements thereto, and that the aggregate number of
Shares transferred are [a portion of] the Series A Convertible Preferred Stock listed in such owner’s name. 
  

			
	Dated:                         	  	 
	 	  	Very truly yours,
		
	 	  	Name:
	 	  	Title:

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