Document:

exv4w11

Exhibit 4.11

THIS SECURITY IS NOT REQUIRED TO BE, AND HAS NOT BEEN, REGISTERED UNDER THE U.S. SECURITIES ACT OF
1933, AS AMENDED. THIS SECURITY EVIDENCES OBLIGATIONS THAT ARE NOT INSURED BY THE U.S. FEDERAL
DEPOSIT INSURANCE CORPORATION OR BY ANY OTHER GOVERNMENTAL AGENCY.

Deutsche Bank Aktiengesellschaft

U.S.$ [   ]

[   ] % PERPETUAL SUBORDINATED NOTE

          Deutsche Bank Aktiengesellschaft (the “Bank”), for value received, hereby promises to pay to
Deutsche Bank Capital Funding LLC XII (the “Company”), or registered assigns, the aggregate
principal sum of [   ] U.S. DOLLARS (U.S.$ [   ]) (the “Principal Amount”) upon presentation and
surrender hereof upon the redemption hereof, and to pay interest on the Principal Amount from and
including the date of issue, at a rate and at such times as determined in accordance with the
provisions herein until the principal hereof is paid or duly made available for payment. This
security (the “Security”) is one of the [   ]% Perpetual Subordinated Notes in the aggregate
principal amount of U.S.$ [   ] (such Notes, as outstanding from time to time, the “Outstanding
Securities”).

          1. Payments; Interest

          (a) Interest will be payable on the Principal Amount quarterly in arrears on [   ], [   ],
[   ] and [   ] of each year, commencing on [   ]. Each such date is referred to herein as an “Interest
Payment Date.” Interest payments payable on each Interest Payment Date will be calculated as
provided below and will accrue from and including the immediately preceding Interest Payment Date
(or from and including [   ], with respect to the first Interest Payment Date) to but excluding the
relevant Interest Payment Date or date fixed for redemption (each such period, an “Interest
Period”).

          Interest will be payable on the Principal Amount at a fixed rate of [   ]% per annum,
calculated on the basis of a 360-day year of twelve 30-day months. The interest rate is referred
to herein as the “Stated Rate.”

          Each calculation of the amount of interest due hereunder shall be made as if this Security
represented [   ] individual subordinated notes, each with a principal amount of U.S.$ [   ] and
one individual subordinated note with a principal amount of U.S.$ [   ].

          (b) Interest payable on any Interest Payment Date will be paid to the person in whose name
this Security is registered on the register (each such person the “Holder” of this Security)
maintained by the Bank for such purpose (the “Register”) at the close of business on the Business
Day immediately preceding such Interest Payment Date, or, in the case of interest payable on a date
fixed for redemption (the “Obligation Redemption Date”) that is not an Interest Payment Date, to
the person in whose name this Security is registered on the Register at the close of business on
the 15th day (whether or not a Business Day) prior to the Obligation Redemption Date
(each a “Regular Record Date”). Any interest not so punctually paid or duly provided for (“Unpaid
Interest Amounts”) shall forthwith cease to be payable to the person registered in the Register on
such Regular Record Date and may be paid to the person in whose name this Security is registered at
the close of

Initial Obligation

 

 

business on any Business Day set as a special record date (“Special Record Date”) by the Bank
for the payment of such Unpaid Interest Amounts. Unpaid Interest Amounts may be paid at any time
in any lawful manner. “Regular Record Date” and “Special Record Date” are each referred to herein
as the “Record Date”. As used herein, “Business Day” shall mean any day other than Saturday,
Sunday or a day on which banks in New York City are required or authorized by law to close.

          (c) If any Interest Payment Date or Obligation Redemption Date falls on a day that is not a
Business Day, payment of all amounts otherwise payable on such date will be made on the next
succeeding Business Day, without adjustment, interest or further payment as a result thereof.

          (d) Payments of interest and Additional Interest Amounts (as defined herein), if any, on this
Security, including interest payable on the Obligation Redemption Date, will be made in immediately
available funds in the City of New York, to the person in whose name this Security is registered on
the Register on the related Record Date by wire transfer to a bank account designated by such
person in a written notice received by the Bank prior to such Record Date.

          (e) The Principal Amount hereof will be paid in immediately available funds on the Obligation
Redemption Date upon presentation and surrender of this Security, to the person in whose name this
Security is registered on the Register on the related Record Date by wire transfer to a bank
account designated by such person in a written notice received by the Bank prior to such Record
Date.

          (f) Prior to due presentment of this Security for registration of transfer, the Bank (or any
agent of the Bank) may treat the person in whose name this Security is registered on the Register
as the owner hereof for the purpose of receiving payment of the principal of, and interest and any
Additional Interest Amounts on, this Security and for all other purposes whatsoever, whether or not
this Security shall be overdue. The Bank shall not be affected by notice to the contrary.

          (g) No provision of this Security shall alter or impair the obligation of the Bank, which is
direct, subordinated as provided herein, unconditional and unsecured, to pay the Principal Amount
of, and interest and any Additional Interest Amounts on, this Security in accordance with and
subject to the terms hereof at the times, place and rate, and in the coin or currency herein
prescribed.

          2. Currency

          Payments of the Principal Amount of and interest, and Additional Interest Amounts, if any, on
this Security shall be made in United States Dollars or in such other coin or currency of the
United States that at the time of payment is legal tender for the payment of public and private
debts in the United States. Until the date on which this Security shall have been delivered to the
Bank for cancellation, or shall have become due and payable in full and a sum sufficient to pay all
unpaid Principal Amount of and interest and any Additional Interest Amounts on this Security has
been duly made available for payment and either paid or returned to the Bank as provided herein,
the Bank shall at all times maintain an office or agency in the City of New York, where this
Security may be presented or surrendered for payment.

2

 

          3. Status

          This Security is a direct, unsecured subordinated debt obligation of the Bank.

          The obligations of the Bank under this Security upon the bankruptcy, insolvency or liquidation
of the Bank will rank (x) subordinate and junior to all senior and subordinated debt obligations of
the Bank that do not expressly rank on parity with the obligations of the Bank under the
Guarantees, (y) on parity with the most senior ranking preference shares of the Bank, if any, and
with its obligations under any guarantee or support agreement or undertaking relating to any
preference shares or other instrument of any subsidiary of the Bank qualifying as consolidated Tier
1 capital of the Bank that does not expressly rank junior to the obligation of the Bank under the
Guarantees and (z) senior to the Junior Securities.

          Pursuant to § 10, paragraph (5a) of the German Banking Act (Kreditwesengesetz), if the Bank
redeems or repays this Security prior to a date on which such redemption or repayment is permitted
under the terms thereof, notwithstanding any agreements to the contrary, any amounts so paid to a
Holder of this Security must be repaid to the Bank unless a statutory exemption (replacement of the
Principal Amount with at least equivalent own funds or prior approval of the German Federal
Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) (“BaFin”))
applies.

          The Bank may not secure its obligations under this Security by any lien, security interest or
other encumbrance on any property of the Bank or any other person, and except as permitted by
applicable law, the Bank shall not, directly or indirectly, acquire for its own account, finance
for the account of any other person the acquisition of, or accept as security for any obligation
owed to it, any of this Security.

          The Holder agrees by its acceptance of this Security that it waives any and all rights it may
have to set off claims under this Security against claims the Bank may have against it.

          “Preferred Tier 1 Securities” means (i) each class of the most senior ranking preference
shares of the Bank, if any, and (ii) preference shares or any other instrument of any subsidiary of
the Bank subject to any guarantee or support agreement of the Bank which guarantee or support
undertaking ranks on parity with the obligations of the Bank under the Guarantees.

          “Junior Securities” means (i) ordinary shares of common stock of the Bank, (ii) each class of
preference shares of the Bank ranking junior to Preferred Tier 1 Securities of the Bank, if any,
and any other instrument of the Bank ranking on parity with such preference shares or junior
thereto and (iii) preference shares or any other instrument of any subsidiary of the Bank subject
to any guarantee or support agreement of the Bank which guarantee or support undertaking ranks
junior to the obligations of the Bank under the Guarantees.

          “Guarantees” means collectively (i) the agreement by the Bank with The Bank of New York Mellon
as class B preferred guarantee trustee for the benefit of the holders of the Class B Preferred
Securities to guarantee payment, on a subordinated basis, of certain payments on the Class B
Preferred Securities and (ii) the agreement by the Bank with The Bank of New York Mellon as trust
preferred guarantee trustee for the benefit of the holders of the Trust Preferred Securities to
guarantee the payment, on a subordinated basis, of certain payments on the Trust Preferred
Securities.

3

 

          4. Redemption

          (a) The Bank may redeem this Security, in whole but not in part, upon at least 30 days’ prior
notice, on any Interest Payment Date on or after [   ], provided the Bank has obtained any
required regulatory approvals.

          (b) This Security may be redeemed by the Bank in whole but not in part, upon at least 30 days’
prior notice, at any time if both (i) a Special Redemption Event has occurred and the Company has
decided to redeem its Class B Preferred Securities (the “Class B Preferred Securities”) in whole
and (ii) the Bank has either (x) replaced the Principal Amount by paying in other, at least
equivalent, own funds (haftendes Eigenkapital) within the meaning of the German Banking Act, or (y)
obtained prior approval of the BaFin or any successor authority for such early redemption.

          (c) This Security may be redeemed by the Bank at any time in whole or in part, if the Bank
replaces the Security in whole or in such part, as applicable, with Substitute Obligations (as
defined below), subject to Section 5 below.

          (d) Any redemption of this Security will be at a redemption price equal to the Principal
Amount to be redeemed plus accrued and unpaid interest thereon to the Obligation Redemption Date,
and Additional Interest Amounts, if any.

          “Special Redemption Event” means (i) a Regulatory Event, (ii) a Tax Event or (iii) an
Investment Company Act Event.

          “Regulatory Event” means that the Bank is notified by a relevant regulatory authority that, as
a result of the occurrence of any amendment to, or change (including any change that has been
adopted but has not yet become effective) in, the applicable banking laws of Germany (or any rules,
regulations or interpretations thereunder, including rulings of the relevant banking authorities)
or the guidelines of the Committee on Banking Supervision at the Bank for International
Settlements, in each case effective after the date of the issuance of the Class B Preferred
Securities, the Bank is not, or will not be, allowed to treat the Class B Preferred Securities as
core capital (Kernkapital) or Tier I regulatory capital, in each case for capital adequacy purposes
on a consolidated basis.

          “Tax Event” means (A) the receipt by the Bank of an opinion of a nationally recognized law
firm or other tax adviser in the United States or Germany or, during any period in which any
Substitute Obligations are outstanding, in the jurisdiction of residence of any obligor on such
Substitute Obligations (or any jurisdiction from which payments are made) (each, a “Relevant
Jurisdiction”) experienced in such matters, to the effect that, as a result of (i) any amendment
to, or clarification of, or change (including any announced prospective change) in, the laws (or
any regulations promulgated thereunder) of a Relevant Jurisdiction or any political subdivision or
taxing authority thereof or therein affecting taxation, (ii) any judicial decision, official
administrative pronouncement, published or private ruling, regulatory procedure, notice or
announcement (including any notice or announcement of intent to adopt such procedures or
regulations) by any legislative body, court, governmental authority or regulatory body (an
“Administrative Action”), or (iii) any amendment to, clarification of, or change in the official
position or the interpretation of such Administrative Action or any interpretation or pronouncement
that provides for a position with respect to such Administrative Action that differs from the
theretofore generally accepted position, in each case, by any legislative body, court, governmental
authority or regulatory body, irrespective of the manner in which such amendment, clarification or
change is made known, which amendment, clarification or change is effective, or which

4

 

Administrative Action, pronouncement or decision is announced, after the date of issuance of
the Class B Preferred Securities, there is more than an insubstantial risk that (a) Deutsche Bank
Capital Funding Trust XII (the “Trust”) or the Company is or will be subject to more than a de
minimis amount of taxes, duties or other governmental charges, (b) the Trust or the Company would
be obligated to pay additional amounts in respect of the Trust Preferred Securities issued by the
Trust (the “Trust Preferred Securities”) or the Class B Preferred Securities, as applicable, the
Bank would be obligated to pay additional amounts under the Trust Preferred Guarantee (as defined
in the Amended and Restated Limited Liability Company Agreement of the Company, dated as of [   ],
the “LLC Agreement”) or the Class B Preferred Guarantee (as defined in the LLC Agreement), as
applicable, or an obligor on the Obligations would be obligated to pay Additional Interest Amounts,
or (c) the Bank would be subject to tax on income of the Company under the rules of the German
Foreign Tax Act (Aussensteuergesetz) except in cases where the capital payments may not be declared
by the Company, or (B) a final determination has been made by the German tax authorities to the
effect that the Bank, as obligor on the Obligations, may not, in the determination of its taxable
income for the purposes of determining German corporate income tax in any year, deduct in full
interest payments on the Obligations (except to the extent such interest payments are determined to
be connected with income of a branch that is not subject to taxation in Germany). However, none of
the foregoing will constitute a Tax Event if it may be avoided by the Bank, the Trust or the
Company taking reasonable measures under the circumstances. “Obligations” means (i) the
Outstanding Securities, (ii) an obligation, if any, issued by the Bank in connection with a notice
to the Company to issue additional Class B Preferred Securities and having the same terms and
conditions as the Outstanding Securities in all respects except for the issue date, the date from
which interest accrues, the issue price and any other deviations required for compliance with
applicable law and (iii) the Substitute Obligations, if any.

          “Investment Company Act Event” means that the Bank has requested and received an opinion of a
nationally recognized U.S. law firm experienced in such matters to the effect that there is more
than an insubstantial risk that the Company or the Trust is or will be considered an “investment
company” within the meaning of the Investment Company Act of 1940, as amended, as a result of any
judicial decision, pronouncement or interpretation (irrespective of the manner in which the same is
made known), the adoption or amendment of any law, rule or regulation, or any notice or
announcement (including any notice or announcement of intent to adopt such law, rule or regulation)
by any U.S. legislative body, court, governmental agency, or regulatory authority, in each case
after the date of issuance of the Class B Preferred Securities.

          5. Substitution

          At any time, the Bank will have the right to (i) substitute another obligor on this Security,
in whole or in part, which obligor will be either a branch of the Bank or a Subsidiary (provided,
that, if such obligor is a Subsidiary, the Bank (which may act through a branch) guarantees on a
subordinated basis, at least equal to the ranking of this Security, the obligation of the new
obligor hereunder) or (ii) replace this Security, in whole or in part, with one or more Substitute
Obligations.

          “Substitute Obligations” means a subordinated obligation issued in substitution for this
Security by the Bank or a Subsidiary with the same aggregate principal amount and interest rate and
payment dates as those of this Security and a maturity that is perpetual or is not earlier than [   ] and terms otherwise substantially identical to those of this Security, provided, that unless
the Bank itself is the issuer of the Substitute Obligations,

5

 

the Bank (which may act through a branch) guarantees on a subordinated basis, at least equal
to the ranking of this Security, the obligations of the new substitute obligor; provided, in each
case, that (a) the Bank has received the written opinion of a nationally recognized law firm in the
United States that reinvestment in such Substitute Obligation will not adversely affect the
“qualified dividend income” eligibility for purposes of Section 1(h)(11) of the Internal Revenue
Code of 1986, as amended (or any successor legislation), of capital payments on the Trust Preferred
Securities, or cause the holders thereof to recognize gain or loss for U.S. federal income tax
purposes and (b) such substitution or replacement does not result in a Special Redemption Event,
and provided, further in each case that the Bank has obtained any required regulatory approvals.

          “Subsidiary” means a subsidiary (i) that is consolidated with the Bank for German bank
regulatory purposes and (ii) of which the Bank owns or controls, directly or indirectly, more than
(x) fifty percent (50%) of the outstanding voting stock or other equity interest entitled
ordinarily to vote in the election of the directors or other governing body (however designated)
and (y) fifty percent (50%) of the outstanding capital stock or other equity interest.

          6. Taxation

          Payments of interest and principal in respect of this Security (or any Substitute Obligation)
and any repayment upon redemption thereof shall be payable free and clear of, and without deduction
or withholding for, or on account of, any present or future taxes, duties or other governmental
charges of whatever nature imposed, levied or collected by or on behalf of any Relevant
Jurisdiction or by or on behalf of any political subdivision or authority therein or thereof having
the power to tax (all such taxes herein called “Withholding Taxes”), unless such deduction or
withholding is required by law. In such event, the Bank shall pay as additional interest such
amounts (“Additional Interest Amounts”) as may be necessary in order that the net amount actually
received by any Holder of this Security (or any Substitute Obligation) after such deduction or
withholding for or on account of Withholding Taxes, shall equal the amounts such Holder would have
received had no such Withholding Taxes been withheld or deducted from such payment; provided, that
the foregoing obligation of the Bank to pay such Additional Interest Amounts shall not apply to any
of the following:

          (i) any Withholding Tax which is payable otherwise than by deduction or withholding;

          (ii) any
tax to conform to other documents that is payable by reason of the Holder or beneficial owner hereof (or of
any Substitute Obligation) having some connection with any Relevant Jurisdiction other than by
reason only of the mere holding or beneficial ownership of this Security (or of any Substitute
Obligation);

          (iii) any Withholding Taxes which are deducted or withheld pursuant to (i) European Council
Directive 2003/48/EC or any other European Union Directive or Regulation implementing the
conclusions of the ECOFIN Council meeting of 26-27 November 2000 on the taxation of savings income,
or (ii) any international treaty or understanding entered into for the purpose of facilitating
cooperation in the reporting and collection of savings income and to which (x) the United States,
and (y) the European Union or Germany are parties, or (iii) any provision of law implementing, or
complying with, or introduced to conform with, such Directive, Regulation, treaty or understanding;

6

 

          (iv) to the extent such deduction or withholding can be avoided or reduced if the holder or
beneficial owner of the Trust Preferred Securities makes a declaration of non-residence or other
similar claim for exemption to the relevant tax authority or complies with any reasonable
certification, documentation, information or other reporting requirement imposed by the relevant
tax authority; provided, however, that the exclusion set forth in this clause shall not apply if
the certification, documentation, information or other reporting requirement would be materially
more onerous (in form, procedure or the substance of information required to be disclosed) to the
holder or the beneficial owner of Trust Preferred Securities than comparable information or other
reporting requirements imposed under U.S. tax law, regulation and administrative practice (such as
IRS Forms W-8 and W-9).

          7. Assignment

          (a) An assignment of any claims arising from this Security shall be valid only if the Holder
gives notice of the assignment in writing, stating the name and address of the assignee (a “Notice
of Assignment”) and surrenders the Security to the Bank. The parties to the assignment may agree
that the assignment shall become effective at a later date, provided, however, that
such agreement be specified in the Notice of Assignment for it to be effective against the Bank.

          (b) Upon receipt of the Notice of Assignment and the Security, the Bank shall promptly deliver
a new Security to the assignee registered in the assignee’s name. The terms and conditions of the
new registered security (the “New Security”) shall be identical to the terms and conditions of this
Security, although the New Security may state the principal amount due to the assignee and identify
the assignee as the Holder thereof as indicated in the Notice of Assignment.

          (c) If the Holder assigns claims only to some, but not all, of the Principal Amount of this
Security, paragraph (b) of this Section 7 shall apply mutatis mutandis to the Holder’s remaining
claims after the assignment.

          8. Jurisdiction

          The Bank irrevocably consents and agrees, for the benefit of the Holders from time to time of
this Security or of any security issued upon the registration of assignment hereof, or in exchange
hereof or in lieu hereof, that any legal action, suit or proceeding against it with respect to its
obligations or liabilities arising out of or in connection with this Security may be brought in the
courts in the City of New York and, until all amounts due and to become due in respect of this
Security have been paid, hereby irrevocably consents and submits to the non-exclusive jurisdiction
of each such court in personam, generally and unconditionally with respect to any such action, suit
or proceeding for itself and in respect of its properties, assets and revenues.

          9. Notices

          (a) All notices to the Bank under this Security shall be in writing and addressed to the Bank
at Theodor-Heuss-Allee 70, D-60486 Frankfurt am Main, telecopier no. (+49) 69 910-35092; Attention:
Group Treasury, and with a copy to Group Legal Services

7

 

of the Bank, Theodor-Heuss-Allee 70, D-60486 Frankfurt am Main; or to such other address as
the Bank may notify the registered Holder of this Security.

          (b) Where this Security provides for notice to the Holder of any event, such notice shall be
sufficiently given (unless otherwise herein expressly provided) if in writing and mailed,
first-class postage prepaid, to the Holder at his last address as it appears in the Register.
Neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular
Holder shall affect the sufficiency of such notice with respect to other Holders. Where this
Security provides for notice in any manner, such notice may be waived in writing by the person
entitled to receive such notice, either before or after the event, and such waiver shall be the
equivalent of such notice.

          (c) In case, by reason of the suspension of or irregularities in regular mail service, it
shall be impractical to mail notice of any event to Holders of this Security when such notice is
required to be given pursuant to any provision of this Security, then any manner of giving such
notice as shall be reasonably satisfactory to the Bank shall be deemed to be sufficient giving of
such notice.

          10. Enforcement

          In the event the Bank shall fail to make any payment of interest and Additional Interest
Amounts, if any, any Holder of the Outstanding Securities may bring an action or proceeding to
enforce such payment, provided that the Bank is not in default in the payment of interest under any
indebtedness to which this Security is subordinated pursuant to Section 3 hereof. The Holders of
the Outstanding Securities shall have no right to accelerate payment of this Security in the case
of a failure of the Bank to make any payment of principal of, interest on, or other amounts owing
under, the Outstanding Securities or a failure to perform any other covenant of the Bank contained
in the Outstanding Securities.

          11. Amendments and Modifications

          (a) This Security, the rights and obligations of the Bank hereunder and the rights of the
Holder of this Security hereunder may be modified and amended, and any failure by the Bank to make
any payment of interest and Additional Interest Amounts hereunder may be waived, in each case with
the consent of the Holders of not less than a majority in aggregate Principal Amount of the
Outstanding Securities, provided that no such modification, amendment or waiver may, without the
consent of Holders of 100% in aggregate Principal Amount of the Outstanding Securities (i) waive a
failure to make any payment of interest or Additional Interest Amounts on, or change the stated
maturity of the interest or Additional Interest Amount on, any Outstanding Security, or reduce the
principal amount thereof or the rate of interest thereon, or change the obligation of the Bank to
pay Additional Interest Amounts, or change any place where, or the coin or currency in which, any
Outstanding Security or any interest or Additional Interest Amount thereon is payable, or impair
the right to institute suit for the enforcement of any such payment on or with respect to any
Outstanding Security; (ii) reduce the percentage of Outstanding Securities the consent of whose
Holders is required to modify or amend this Security or for the waiver of any past failure to make
payments of interest or Additional Interest Amounts; (iii) modify the obligations of the Bank
hereunder to maintain offices or agencies in Frankfurt am Main; (iv) modify the obligation of the
Bank to pay amounts under this Security; or (v) modify the above provisions, except to provide that
modification, amendment or waiver of other provisions of this Security shall not be effective as to
any Outstanding Security without the consent of the Holder of such Outstanding Security.

8

 

          (b) This Security may also be amended or modified by the Bank, without the consent of the
Holder of this Security (i) to add to the covenants of the Bank for the benefit of the Holder of
this Security, (ii) to surrender any right or power conferred upon the Bank, (iii) to cure any
ambiguity, correct or supplement any provisions of this Security which may be inconsistent with any
other provision herein or to make any other provisions with respect to matters or questions arising
under this Security, provided that such action shall not adversely affect the interests of the
Holder of this Security in any material respect.

          (c) Notwithstanding the foregoing, no amendment or modification of this Security may be made
which (i) limits the subordination provisions of this Security pursuant to Section 3 or (ii)
shortens the period prior to which the Bank can redeem this Security pursuant to Section 4.

          (d) Any amendment, modification or waiver of or to this Security and the rights and
obligations of the Bank hereunder and the rights of the Holder of this Security hereunder in
accordance with the foregoing provisions will be conclusive and binding upon the Holder of this
Security, and of any securities issued upon the registration of assignment hereof or in exchange
herefor or in lieu hereof, whether or not the Holder shall have given its consent and whether or
not notation of such amendment, modification or waiver is made upon this Security.

          12. Conditions Precedent

          The Bank hereby certifies and declares that all acts, conditions and things required to be
done and performed and to have happened precedent to the creation and issuance of this Security,
and to constitute the same a legal, valid and binding obligation of the Bank enforceable in
accordance with its terms, have been done and performed and have happened in due and strict
compliance with all applicable law.

          13. Governing Law

          This Security shall be governed by, and construed in accordance with, the laws of the State of
New York.

          14. Headings

          Headings and sub-headings are for ease of reference only and shall not affect the construction
of the terms of this Security.

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          IN WITNESS WHEREOF, the Bank has caused this Security to be duly executed by two of its duly
authorized officers as of the date first above written.

	 	 	 	 	 
	 	DEUTSCHE BANK AKTIENGESELLSCHAFT

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Initial Obligation

10Exhibit 10.6

Exhibit 10.6

EXECUTION COPY

KELLY SERVICES, INC.

THE FOREIGN SUBSIDIARY BORROWERS

 

CREDIT AGREEMENT

DATED AS OF SEPTEMBER 28, 2009

 

JPMORGAN CHASE BANK, N.A., AS AGENT

AND

THE LENDERS PARTY HERETO

 

J.P. MORGAN SECURITIES INC.,

AS LEAD ARRANGER AND SOLE BOOK RUNNER

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	 
	 	 	 	 
	ARTICLE I. DEFINITIONS
	 	 	1	 
	 
	 	 	 	 
	ARTICLE II. THE CREDITS
	 	 	24	 
	 
	 	 	 	 
	2.1 Commitments
	 	 	24	 
	2.2 Repayment of Loans; Evidence of Debt; Types of Advances
	 	 	27	 
	2.3 Procedures for Borrowing
	 	 	28	 
	2.4 Termination or Reduction of Commitments
	 	 	29	 
	2.5 Determination of Dollar Amounts
	 	 	29	 
	2.6 Facility and Agent Fees
	 	 	30	 
	2.7 Optional and Mandatory Principal Payments on All Loans
	 	 	30	 
	2.8 Conversion and Continuation of Outstanding Advances
	 	 	31	 
	2.9 Interest Rates, Interest Payment Dates; Interest and Fee Basis
	 	 	31	 
	2.10 Rates Applicable After Default
	 	 	32	 
	2.11 Pro Rata Payment, Method of Payment
	 	 	32	 
	2.12 Telephonic Notices
	 	 	32	 
	2.13 Notification of Advances, Interest Rates, Prepayments and Commitment Reductions
	 	 	33	 
	2.14 Lending Installations
	 	 	33	 
	2.15 Non-Receipt of Funds by the Agent
	 	 	33	 
	2.16 Swing Line Loans
	 	 	33	 
	2.17 Defaulting Lenders
	 	 	35	 
	2.18 Advances to be made in Euro
	 	 	36	 
	2.19 Facility LCs
	 	 	36	 
	2.20 Borrowing Base Adjustments
	 	 	40	 
	2.21 Collateral Security; Further Assurances
	 	 	40	 
	 
	 	 	 	 
	ARTICLE III. CHANGE IN CIRCUMSTANCES, TAXES
	 	 	42	 
	 
	 	 	 	 
	3.1 Yield Protection
	 	 	42	 
	3.2 Changes in Capital Adequacy Regulations
	 	 	42	 
	3.3 Availability of Types of Advances
	 	 	43	 
	3.4 Funding Indemnification
	 	 	43	 
	3.5 Lender Statements; Survival of Indemnity
	 	 	43	 
	3.6 Taxes
	 	 	44	 
	3.7 Substitution of Lender
	 	 	46	 
	 
	 	 	 	 
	ARTICLE IV. CONDITIONS PRECEDENT
	 	 	46	 
	 
	 	 	 	 
	4.1 Closing Conditions
	 	 	46	 
	4.2 Each Advance
	 	 	48	 
	 
	 	 	 	 
	ARTICLE V. REPRESENTATIONS AND WARRANTIES
	 	 	48	 
	 
	 	 	 	 
	5.1 Corporate Existence and Standing
	 	 	48	 
	5.2 Authorization and Validity
	 	 	48	 
	5.3 No Conflict; Government Consent
	 	 	49	 
	5.4 Financial Statements
	 	 	49	 
	5.5 Material Adverse Change
	 	 	49	 
	5.6 Taxes
	 	 	49	 
	5.7 Litigation and Contingent Obligations
	 	 	49	 
	5.8 Subsidiaries
	 	 	49	 
	5.9 ERISA
	 	 	50	 

 

i

 

	 	 	 	 	 
	 	 	Page	 
	 
	 	 	 	 
	5.10 Accuracy of Information
	 	 	50	 
	5.11 Regulations T, U and X
	 	 	50	 
	5.12 Compliance With Laws
	 	 	50	 
	5.13 Plan Assets; Prohibited Transactions
	 	 	50	 
	5.14 Environmental Matters
	 	 	50	 
	5.15 Investment Company Act
	 	 	51	 
	5.16 Foreign Subsidiary Borrowers
	 	 	51	 
	5.17 Ownership of Properties
	 	 	51	 
	5.18 Reportable Transaction
	 	 	51	 
	5.19 Term Loans and Yen Loans
	 	 	51	 
	5.20 Borrowing Base
	 	 	51	 
	 
	 	 	 	 
	ARTICLE VI. COVENANTS
	 	 	52	 
	 
	 	 	 	 
	6.1 Financial Reporting
	 	 	52	 
	6.2 Use of Proceeds
	 	 	53	 
	6.3 Notice of Default
	 	 	53	 
	6.4 Conduct of Business
	 	 	53	 
	6.5 Taxes
	 	 	53	 
	6.6 Insurance
	 	 	53	 
	6.7 Compliance with Laws
	 	 	53	 
	6.8 Maintenance of Properties
	 	 	53	 
	6.9 Inspection
	 	 	54	 
	6.10 Merger
	 	 	54	 
	6.11 Sale of Assets
	 	 	54	 
	6.12 Indebtedness
	 	 	54	 
	6.13 Liens
	 	 	55	 
	6.14 Affiliates
	 	 	56	 
	6.15 Financial Contracts
	 	 	56	 
	6.16 Restricted Payments
	 	 	56	 
	6.17 Investments and Acquisitions
	 	 	57	 
	6.18 Additional Covenants
	 	 	58	 
	6.19 Financial Covenants
	 	 	58	 
	 
	 	 	 	 
	ARTICLE VII. DEFAULTS
	 	 	58	 
	 
	 	 	 	 
	ARTICLE VIII. ACCELERATION, WAIVERS, AMENDMENTS AND REMEDIES
	 	 	61	 
	 
	 	 	 	 
	8.1 Acceleration; Facility LC Collateral Account
	 	 	61	 
	8.2 Amendments
	 	 	62	 
	8.3 Preservation of Rights
	 	 	63	 
	 
	 	 	 	 
	ARTICLE IX. GUARANTEE
	 	 	63	 
	 
	 	 	 	 
	9.1 Guaranty
	 	 	63	 
	9.2 Guaranty of Payment
	 	 	63	 
	9.3 No Discharge or Diminishment of Guaranty
	 	 	63	 
	9.4 Defenses Waived
	 	 	64	 
	9.5 Rights of Subrogation
	 	 	64	 
	9.6 Reinstatement; Stay of Acceleration
	 	 	65	 
	9.7 Information
	 	 	65	 
	9.8 Termination
	 	 	65	 
	9.9 Taxes
	 	 	65	 
	9.10 Maximum Liability
	 	 	65	 
	9.11 Contribution
	 	 	66	 
	9.12 Liability Cumulative
	 	 	66	 

 

ii

 

	 	 	 	 	 
	 	 	Page	 
	 
	 	 	 	 
	ARTICLE X. GENERAL PROVISIONS
	 	 	66	 
	 
	 	 	 	 
	10.1 Survival of Representations
	 	 	66	 
	10.2 Governmental Regulation
	 	 	66	 
	10.3 Taxes
	 	 	66	 
	10.4 Headings
	 	 	67	 
	10.5 Entire Agreement
	 	 	67	 
	10.6 Several Obligations; Benefits of this Agreement
	 	 	67	 
	10.7 Expenses; Indemnification
	 	 	67	 
	10.8 Numbers of Documents
	 	 	67	 
	10.9 Accounting
	 	 	68	 
	10.10 Severability of Provisions
	 	 	68	 
	10.11 Nonliability of Lenders
	 	 	68	 
	10.12 Confidentiality
	 	 	68	 
	10.13 Nonreliance
	 	 	69	 
	 
	 	 	 	 
	ARTICLE XI. THE AGENT
	 	 	69	 
	 
	 	 	 	 
	11.1 Appointment; Nature of Relationship
	 	 	69	 
	11.2 Powers
	 	 	69	 
	11.3 General Immunity
	 	 	69	 
	11.4 No Responsibility for Loans, Recitals, etc
	 	 	70	 
	11.5 Action on Instructions of Lenders
	 	 	70	 
	11.6 Employment of Agents and Counsel
	 	 	70	 
	11.7 Reliance on Documents; Counsel
	 	 	70	 
	11.8 Agent’s Reimbursement and Indemnification
	 	 	71	 
	11.9 Notice of Default
	 	 	71	 
	11.10 Rights as a Lender
	 	 	71	 
	11.11 Lender Credit Decision
	 	 	71	 
	11.12 Successor Agent
	 	 	71	 
	11.13 Delegation to Affiliates
	 	 	72	 
	11.14 Arranger, Syndication Agents and Documentation Agents
	 	 	72	 
	11.15 Execution of Collateral Documents
	 	 	72	 
	11.16 Collateral Releases
	 	 	72	 
	11.17 Collateral; Reports
	 	 	73	 
	 
	 	 	 	 
	ARTICLE XII. SETOFF; ADJUSTMENTS AMONG LENDERS
	 	 	73	 
	 
	 	 	 	 
	12.1 Setoff
	 	 	73	 
	12.2 Ratable Payments
	 	 	74	 
	 
	 	 	 	 
	ARTICLE XIII. BENEFIT OF AGREEMENT; ASSIGNMENTS; PARTICIPATIONS
	 	 	74	 
	 
	 	 	 	 
	13.1 Successors and Assigns
	 	 	74	 
	13.2 Participations
	 	 	74	 
	13.3 Assignments
	 	 	75	 
	13.4 Dissemination of Information
	 	 	76	 
	13.5 Tax Treatment
	 	 	76	 
	 
	 	 	 	 
	ARTICLE XIV. NOTICES
	 	 	76	 
	 
	 	 	 	 
	14.1 Notices
	 	 	76	 
	14.2 Change of Address
	 	 	76	 

 

iii

 

	 	 	 	 	 
	 	 	Page	 
	 
	 	 	 	 
	ARTICLE XV. COUNTERPARTS
	 	 	76	 
	 
	 	 	 	 
	ARTICLE XVI. CHOICE OF LAW, CONSENT TO JURISDICTION, WAIVER OF JURY TRIAL, JUDGMENT CURRENCY
	 	 	77	 
	 
	 	 	 	 
	16.1 CHOICE OF LAW
	 	 	77	 
	16.2 WAIVER OF JURY TRIAL
	 	 	77	 
	16.3 Submission To Jurisdiction; Waivers
	 	 	77	 
	16.4 Acknowledgments
	 	 	78	 
	16.5 Power of Attorney
	 	 	78	 
	16.6 Judgment
	 	 	78	 
	16.7 USA PATRIOT Act
	 	 	78	 

	 
	EXHIBITS
	 

	EXHIBIT A — PRICING SCHEDULE

	 

	EXHIBIT B — JOINDER AGREEMENT

	 

	EXHIBIT C — REVOLVING CREDIT NOTE

	 

	EXHIBIT D — NOTICE OF DRAWDOWN

	 

	EXHIBIT E — OPINION OF COUNSEL

	 

	EXHIBIT F — COMPLIANCE CERTIFICATE

	 

	EXHIBIT G — ASSIGNMENT AGREEMENT

	 

	EXHIBIT H — ALTERNATE CURRENCY ADDENDUM

	 

	EXHIBIT I — BORROWING BASE CERTIFICATE

	 	 	 
	SCHEDULES	 	 
	 
	 	 
	SCHEDULE 1.1(a)

	 	COMMITMENTS
	 
	 	 
	SCHEDULE 1.1(b)

	 	FOREIGN SUBSIDIARY BORROWERS
	 
	 	 
	SCHEDULE 1.1(c)

	 	INACTIVE SUBSIDIARIES
	 
	 	 
	SCHEDULE 2.16

	 	SWING LINE LOAN NOTICE
	 
	 	 
	SCHEDULE 5.7

	 	LITIGATION
	 
	 	 
	SCHEDULE 5.8

	 	SUBSIDIARIES
	 
	 	 
	SCHEDULE 6.12

	 	EXISTING INDEBTEDNESS
	 
	 	 
	SCHEDULE 6.13

	 	EXISTING LIENS
	 
	 	 
	SCHEDULE 6.17

	 	EXISTING INVESTMENTS

 

iv

 

THIS CREDIT AGREEMENT (this “Agreement”), dated as of September 28, 2009, among KELLY
SERVICES, INC., a Delaware corporation (the “Company”), the FOREIGN SUBSIDIARY BORROWERS
(as hereinafter defined) from time to time parties hereto (together with the Company, the
“Borrowers”), the SUBSIDIARY GUARANTORS (as hereinafter defined) from time to time parties
hereto, the lenders from time to time parties hereto (together with any Transferees, the
“Lenders”), and JPMORGAN CHASE BANK, N.A., a national banking association with its main
office in Chicago, Illinois, as administrative agent for the Lenders (in such capacity, the
“Agent”).

NOW, THEREFORE, in consideration of the mutual agreements, provisions and covenants contained
herein, the parties agree as follows:

ARTICLE I.

DEFINITIONS

Defined Terms. As used in this Agreement, the following terms shall have the
following meanings:

“Acquisition” means any transaction, or any series of related transactions,
consummated on or after the date of this Agreement, by which the Company or any of its Subsidiaries
(i) acquires any going business or all or substantially all of the assets of any firm, corporation,
partnership, limited liability company or other business entity, or division thereof, whether
through purchase of assets, merger or otherwise or (ii) directly or indirectly acquires (in one
transaction or as the most recent transaction in a series of transactions) at least a majority (in
number of votes) of the securities of a corporation which have ordinary voting power for the
election of directors (other than securities having such power only by reason of the happening of a
contingency) or a majority (by percentage or voting power) of the outstanding ownership interests
of a partnership or limited liability company.

“Additional Covenant” shall mean any affirmative or negative covenant or similar
restriction applicable to the Company or any Subsidiary (regardless of whether such provision is
labeled or otherwise characterized as a covenant) the subject matter of which either (i) is similar
to that of any covenant in Article VI of this Agreement, or related definitions herein, but
contains one or more percentages, amounts or formulas that is more restrictive than those set forth
herein or more beneficial to the lender under any agreement with respect to any Indebtedness of the
Company or such Subsidiary or any agreement for the refinancing or extension of all or a portion of
the Indebtedness thereunder (and such covenant or similar restriction shall be deemed an Additional
Covenant only to the extent that it is more restrictive or more beneficial) or (ii) is different
from the subject matter of any covenants in Article VI of this Agreement, or related definitions
herein.

“Adjusted LIBO Rate” means, with respect to any calculation of the Alternate Base
Rate, the quotient of (i) the Eurocurrency Reference Rate for deposits in Dollars divided by (ii)
one minus the Reserve Requirement (expressed as a decimal).

“Administrative Questionnaire” means an Administrative Questionnaire in a form
supplied by the Agent.

“Advance” means a Revolving Credit Advance, an Alternate Currency Advance or a Swing
Line Loan.

“Affiliate” of any Person means any other Person directly or indirectly controlling,
controlled by or under common control with such Person. A Person shall be deemed to control
another Person if the controlling Person owns 10% or more of any class of voting securities (or
other ownership interests) of
the controlled Person or possesses, directly or indirectly, the power to direct or cause the
direction of the management or policies of the controlled Person, whether through ownership of
stock, by contract or otherwise.

 

1

 

“Agent” means JPMorgan Chase Bank, N.A. in its capacity as contractual representative
of the Lenders pursuant to Article XI, and not in its individual capacity as a Lender, and any
successor Agent appointed pursuant to Article XI.

“Aggregate Alternate Currency Commitments” means, at any time, the aggregate of the
Alternate Currency Commitments of the Lenders.

“Aggregate Available Revolving Credit Commitments” means as at any date of
determination with respect to all Lenders, an amount equal to the Available Revolving Credit
Commitments of all Lenders on such date.

“Aggregate Commitments” shall mean the aggregate amount of the Commitments of all
Lenders.

“Aggregate Outstanding Credit Exposure” means, at any time, the aggregate of the
Outstanding Credit Exposure of all the Lenders.

“Aggregate Outstanding Revolving Credit Exposure” means as at any date of
determination with respect to any Lender, the sum of (i) the U.S. Dollar Equivalent on such date of
the aggregate unpaid principal amount of such Lender’s Revolving Credit Loans on such date, plus
(ii) the U.S. Dollar Equivalent on such date of the amount of such Lender’s Pro Rata Share of the
LC Obligations on such date, plus (iii) the U.S. Dollar Equivalent on such date of the amount of
such Lender’s Pro Rata Share of the aggregate unpaid principal amount of Swing Line Loans on such
date.

“Aggregate Outstanding Senior Indebtedness” means as at any date of determination, the
sum of (i) the Aggregate Outstanding Credit Exposure on such date, plus (ii) the U.S. Dollar
Equivalent on such date of the aggregate outstanding principal amount of Term Loan Debt on such
date, plus (iii) the U.S. Dollar Equivalent on such date of the aggregate outstanding principal
amount of Yen Loan Debt on such date, plus (iv) the U.S. Dollar Equivalent on such date of the
aggregate outstanding amount of any Receivables Transaction Attributed Indebtedness on such date,
plus (v) the maximum face amount of letters of credit issued by any Lender (other than any Facility
LC), together with any outstanding reimbursement obligations related thereto, plus (vi) the
aggregate amount of Net Mark-to-Market Exposure in excess of $10,000,000, plus, (vii) the aggregate
amount of any outstanding overdrafts.

“Aggregate Revolving Credit Commitments” means the aggregate amount, stated in U.S.
Dollars, of the Revolving Credit Commitments of all Lenders.

“Agreement” means this loan agreement, as it may be amended or modified and in effect
from time to time.

“Agreement Accounting Principles” means generally accepted accounting principles as in
effect on the Effective Date in the United States, applied in a manner consistent with the audited
consolidated financial statements of the Company and its Subsidiaries for the fiscal year ending
December 28, 2008; provided, however, that, if any changes in generally accepted accounting
principles are required and adopted by the Company or its Subsidiaries with the agreement of its
independent certified public accountants and such changes result in a change in the method of
calculation of any financial covenants, tests, restrictions or standards herein or in the related
definitions or terms used therein (“Accounting Changes”), the Agent, at the Company’s request, will
enter into negotiations, in good faith, in order to
amend such provisions in a credit- neutral manner so as to reflect equitably such changes with
the desired result that the criteria for evaluating the Company’s and its Subsidiaries’ financial
condition and results shall be the same in all material respects after such changes as if such
changes had not been made; provided that any such amendments shall be reasonably satisfactory to
the Required Lenders. In the event such amendment is entered into, all references in this
Agreement to Agreement Accounting Principles shall mean generally accepted accounting principles as
of the date of such amendment. After the occurrence of any accounting change but until such time
as such amendment has been entered into, all financial statements and other financial reports
required to be delivered under this Agreement shall be prepared and delivered in accordance with
Agreement Accounting Principles.

 

2

 

“Agreement Currency” is defined in Section 16.6.

“Alternate Base Rate” means, for any day, a rate per annum equal to the greatest of
(a) the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such
day plus 1/2 of 1% and (c) the Adjusted LIBO Rate for a one month Interest Period on such day (or if
such day is not a Business Day, the immediately preceding Business Day) plus 1%, provided that, for
the avoidance of doubt, the Adjusted LIBO Rate for any day shall be based on the rate appearing on
the Reuters Screen LIBOR 01 Page (or on any successor or substitute page) at approximately 11:00
a.m. London time on such day (without any rounding). Any change in the Alternate Base Rate due to
a change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate shall be
effective from and including the effective date of such change in the Prime Rate, the Federal Funds
Effective Rate or the Adjusted LIBO Rate, respectively.

“Alternate Currency” means any currency which the Company requests the Agent to
include as an Alternate Currency hereunder and which is acceptable to one-hundred percent (100%) of
the applicable Alternate Currency Lenders for such Alternate Currency Facility; and with respect to
which an Alternate Currency Addendum has been executed among the Company, any Foreign Subsidiary
Borrower party thereto, one or more Alternate Currency Lenders and the Agent in connection
therewith.

“Alternate Currency Addendum” means a schedule and addendum entered into among the
Company, any Foreign Subsidiary Borrower party thereto, one or more Alternate Currency Lenders and
the Agent, in form and substance satisfactory to the Agent, the Company, any Foreign Subsidiary
Borrower party thereto, and such Alternate Currency Lenders party thereto but in substantially the
form of Exhibit H hereto.

“Alternate Currency Advance” means a borrowing hereunder (or a continuation thereof)
consisting of the several Alternate Currency Loans made in the same Alternate Currency on the same
Borrowing Date (or the date of continuation) by the Alternate Currency Lenders for the same
Interest Period.

“Alternate Currency Commitment” means, for each Alternate Currency Lender for each
Alternate Currency, the obligation of such Alternate Currency Lender to make Alternate Currency
Loans not exceeding the U.S. Dollar Equivalent set forth in the applicable Alternate Currency
Addendum, as such amount may be modified from time to time pursuant to the terms of this Agreement
and the applicable Alternate Currency Addendum. The Alternate Currency Commitment of each
Alternate Currency Lender for each Alternate Currency Facility is set forth on Schedule 1.1(a), as
amended, modified, substituted or replaced from time to time.

“Alternate Currency Facility” means each credit facility established pursuant to
Sections 2.1(b) and (d).

 

3

 

“Alternate Currency Lender” means any Lender (including any Applicable Lending
Installation) party to an Alternate Currency Addendum.

“Alternate Currency Loan” means any Loan denominated in an Alternate Currency made by
an Alternate Currency Lender to a Borrower pursuant to this Agreement and the applicable Alternate
Currency Addendum (being, for the avoidance of doubt, such Lender’s portion of an Alternate
Currency Advance).

“Alternate Currency Share” means, with respect to any Alternate Currency Lender for
any particular Alternate Currency, the percentage obtained by dividing (a) such Alternate Currency
Lender’s Alternate Currency Commitment at such time as set forth in the applicable Alternate
Currency Addendum by (b) the aggregate of the Alternate Currency Commitments at such time of all
Alternate Currency Lenders with respect to such Alternate Currency as set forth in the applicable
Alternate Currency Addendum.

“Applicable Fee Rate” means, at any time, the percentage rate per annum at which
facility fees are accruing on the Aggregate Commitment (without regard to usage) at such time as
set forth in the Pricing Schedule.

“Applicable Lending Installation” shall mean, with respect to any Lender, any
office(s), agency(ies), branch(es), Subsidiary(ies) or Affiliate(s) of such Lender selected by such
Lender and notified to the Company and the Agent by such Lender from time to time and, with respect
to the Agent, any office(s), agency(ies), branch(es), Subsidiary(ies) or Affiliate(s) of the Agent
selected by the Agent and notified to the Company from time to time.

“Applicable Margin” means, with respect to Advances of any Type at any time, the
facility fee or the LC Fee, as the case may be, the percentage rate per annum which is applicable
at such time as set forth in the Pricing Schedule.

“Arranger” means J.P. Morgan Securities Inc., a Delaware corporation and its
successors.

“Article” means an article of this Agreement unless another document is specifically
referenced.

“Assignment” is defined in Section 13.3(a).

“Associated Costs Rate” means, in relation to each Advance, the percentage rate from
time to time determined by the Agent (in its sole discretion) as reflecting the cost, loss or
difference in return which would be suffered or incurred by the Agent (and/or such Lender or
Lenders as it may from time to time determine) (if the Agent or such Lender or Lenders funded such
Advance) as a result of:

(a) funding (at LIBOR and on a match funded basis) any special deposit or cash ratio deposit
required to be placed with the Bank of England (or any other authority which replaces all or any of
its functions); and/or

(b) any charge imposed by the Financial Services Authority (or any other authority which
replaces all or any of its functions),

in respect of Eligible Liabilities (assuming these to be in excess of any stated minimum)
which relate to funding such Advance.

 

4

 

“Augmenting Lender” is defined in Section 2.1(g).

“Australian Dollars” and “AUS$” means the lawful currency of the Commonwealth
of Australia.

“Authorized Officer” means, with respect to any Borrower, any of the chief executive
officer, the chief financial officer, the treasurer or the controller of such Borrower or any
person designated by any of the foregoing in writing to the Agent from time to time to act on
behalf of such Borrower, in each case, acting singly.

“Available Alternate Currency Commitment” means at any date of determination with
respect to any Alternate Currency Lender under any Alternate Currency Facility as set forth in the
applicable Alternate Currency Addendum, the excess, if any, of (a) the U.S. Dollar Equivalent of
such Alternate Currency Lender’s Commitment under such Alternate Currency Facility in effect on
such date over (b) the U.S. Dollar Equivalent of the aggregate principal amount of
Alternate Currency Loans outstanding owing to such Alternate Currency Lender under such Alternate
Currency Facility on such date.

“Available Revolving Credit Commitment” means as at any date of determination with
respect to any Lender, an amount equal to the excess, if any, of (a) the amount of such Lender’s
Revolving Credit Commitment in effect on such date over (b) the Aggregate Outstanding
Revolving Credit Exposure of such Lender on such date.

“Banking Services” shall mean all treasury management services (including, without
limitation, controlled disbursement, automated clearinghouse transactions, return items, overdrafts
and interstate depository network services and international treasury management services),
commercial credit cards and stored value cards, provided to any of the Company or any of its
Subsidiaries by any Lender or any Lender’s Affiliates.

“Banking Services Obligations” shall mean any and all obligations of any of the
Company or any of its Subsidiaries, whether absolute or contingent and howsoever and whensoever
created, arising, evidenced or acquired (including all renewals, extensions and modifications
thereof and substitutions therefor) in connection with Banking Services.

“Borrowing Base” means, at any time, an amount equal to 80% of Eligible Receivables at
such time.

“Borrowing Base Certificate” means a certificate, signed and certified as accurate and
complete by an Authorized Officer of the Company, in substantially the form of Exhibit I or another
form which is acceptable to the Agent in its sole discretion.

“Borrowers” is defined in the preamble hereto.

“Borrowing Date” means any Business Day specified in a notice pursuant to Section 2.3,
2.8 or 2.16 as a date on which a Borrower requests the Lenders to make or continue Loans or issue
Facility LCs hereunder.

“Borrowing Notice” is defined in Section 2.3(b).

“Business Day” means (i) with respect to any borrowing, payment or rate selection of
Eurocurrency Advances, a day (other than a Saturday or Sunday) on which banks generally are open in
Chicago and New York for the conduct of substantially all of their commercial lending activities,
interbank wire transfers can be made on the Fedwire system and dealings in Dollars and other
Eligible Currencies are carried on in the London interbank market (and, if the Advances which are
the subject of such borrowing, payment or rate selection are denominated in Euro, a day upon which
such clearing
system as is reasonably determined by the Agent to be suitable for clearing or settlement of
the Euro is open for business), (ii) with respect to any borrowing of any Swing Line Loan
denominated in any currency other than Dollars, any day on which banks in London are open for
general banking business, including dealings in foreign currency and exchange, and (iii) for all
other purposes, a day (other than a Saturday or Sunday) on which banks generally are open in
Chicago for the conduct of substantially all of their commercial lending activities and interbank
wire transfers can be made on the Fedwire system.

 

5

 

“Canadian Dollars” or “CDN$” means the lawful currency of the Dominion of
Canada.

“Capitalized Lease” of a Person means any lease of Property by such Person as lessee
which would be capitalized on a balance sheet of such Person prepared in accordance with Agreement
Accounting Principles.

“Capitalized Lease Obligations” of a Person means the amount of the obligations of
such Person under Capitalized Leases which would be shown as a liability on a balance sheet of such
Person prepared in accordance with Agreement Accounting Principles.

“Cash Equivalent Investments” means (i) short-term obligations of, or fully guaranteed
by, the United States of America, (ii) commercial paper rated A-1 or better by S&P or P-1 or better
by Moody’s, (iii) demand deposit accounts maintained in the ordinary course of business, (iv)
certificates of deposit issued by and time deposits with commercial banks (whether domestic or
foreign) having capital and surplus in excess of $100,000,000, (v) repurchase agreements and
reverse repurchase agreements with respect to securities described in clause (i) above entered into
with a bank meeting the criteria described in clause (iv) above, and (vi) any money market funds
that (A) comply with the criteria set forth in SEC Rule 2a-7 under the Investment Company Act of
1940, as amended, (B) are rated AAA by S&P and Aaa by Moody’s and (iii) have portfolio assets of at
least $5,000,000,000; provided in each case that the same provides for payment of both principal
and interest (and not principal alone or interest alone) and is not subject to any contingency
regarding the payment of principal or interest.

“Change in Control” means, subject to the exceptions contained in the next sentence,
any Person or group of Persons (within the meaning of Section 13(d) or 14(d) of the Securities
Exchange Act of 1934, as amended) shall after the Effective Date either (a) acquire beneficial
ownership (within the meaning of Rule 13d-3 of the Securities and Exchange Commission under the
Securities Exchange Act of 1934) in excess of 50% of the outstanding shares of voting stock of the
Company or (b) obtain the power (whether or not exercised) to elect a majority of the Company’s
directors. A Change in Control shall not include any acquisition of beneficial ownership (as
defined above) or the power to elect a majority of the Company’s directors by any Person who is or
group of Persons (as defined above) which include members of the Kelly Family or are acting for the
benefit of members of the Kelly Family, nor shall Change in Control include any change in legal
title to, or the trustee of, the Kelly Trust the shifting admission within or to or withdrawal from
the Kelly Trust of any beneficiaries.

“Code” means the Internal Revenue Code of 1986, as amended, reformed or otherwise
modified from time to time.

“Collateral” shall mean all assets of the Company and each of its Subsidiaries in
which a Lien is required to be granted to secure the Secured Obligations. As provided in the
Collateral Documents, the Collateral shall not include the Qualified Receivables Transaction
Assets.

“Collateral Agent” means JPMCB in its capacity as collateral agent under the
Collateral Documents.

 

6

 

“Collateral Documents” means, collectively, the Intercreditor Agreement, the Security
Agreements, and all other agreements or documents granting or perfecting a Lien in favor of the
Collateral Agent for the benefit of the Secured Parties under the Intercreditor Agreement or
otherwise providing support for the Secured Obligations at any time, as any of the foregoing may be
amended or modified from time to time.

“Collateral Shortfall Amount” is defined in Section 8.1.

“Commitment” means, with respect to each Lender, the aggregate amount of such Lender’s
Revolving Credit Commitment and, as applicable, such Lender’s Alternate Currency Commitments.

“Company” is defined in the preamble hereto.

“Computation Date” is defined in Section 2.5.

“Condemnation” is defined in Section 7.8.

“Contingent Obligation” of a Person means any agreement, undertaking or arrangement by
which such Person assumes, guarantees, endorses, contingently agrees to purchase or provide funds
for the payment of, or otherwise becomes or is contingently liable upon, the obligation or
liability of any other Person.

“Controlled Group” means all members of a controlled group of corporations and all
trades or businesses (whether or not incorporated) under common control which, together with the
Company or any of its Subsidiaries, are treated as a single employer under Section 414 of the Code.

“Credit Extension” means the making of an Advance or the issuance or Modification of a
Facility LC hereunder.

“Debt Instrument” is defined in Section 6.18.

“Default” means an event described in Article VII.

“Defaulting Lender” means any Lender, as determined by the Agent, that has (a) failed
to fund any portion of its Loans or participations in Facility LCs or Swing Line Loans within three
Business Days of the date required to be funded by it hereunder, (b) notified the Borrower, the
Agent, the LC Issuer, the Swing Line Lender or any Lender in writing that it does not intend to
comply with any of its funding obligations under this Agreement or has made a public statement to
the effect that it does not intend to comply with its funding obligations under this Agreement or
under other agreements in which it commits to extend credit, (c) failed, within three Business Days
after request by the Agent, to confirm that it will comply with the terms of this Agreement
relating to its obligations to fund prospective Loans and participations in then outstanding
Facility LCs and Swing Line Loans, (d) otherwise failed to pay over to the Agent or any other
Lender any other amount required to be paid by it hereunder within three Business Days of the date
when due, unless the subject of a good faith dispute, or (e) (i) become or is insolvent or has a
parent company that has become or is insolvent or (ii) become the subject of a bankruptcy or
insolvency proceeding, or has had a receiver, conservator, trustee or custodian appointed for it,
or has taken any action in furtherance of, or indicating its consent to, approval of or
acquiescence in any such proceeding or appointment or has a parent company that has become the
subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee or
custodian appointed for it, or has taken any action in furtherance of, or indicating its consent
to, approval of or acquiescence in any such proceeding or appointment.

 

7

 

“Designated Financial Officer” means, with respect to any Borrower, its chief
financial officer, treasurer or controller.

“Dollar Amount” of any currency at any date shall mean (i) the amount of such currency
if such currency is Dollars or (ii) the equivalent in Dollars of such amount if such currency is
any currency other than Dollars, calculated at the Exchange Rate, on or as of the most recent
Computation Date provided for in Section 2.5.

“Dollars”, “U.S. Dollars” and “$” means dollars in lawful currency of
the United States of America.

“Domestic Subsidiary” means each present and future Subsidiary of the Company which is
not a Foreign Subsidiary.

“EBITDA” means, for any period, the sum of (a) the consolidated net income (or loss)
of the Company and its Subsidiaries for such period determined in conformity with Agreement
Accounting Principles, plus (b) to the extent deducted in determining such net income,
income taxes, Interest Expense, depreciation and amortization, minus (c) to the extent
included in determining such net income, each of the following, without duplication: (i) the
income of any Person (x) in which any Person other than the Company or any of its Subsidiaries has
a joint interest or a partnership interest or other ownership interest and (y) the Company or any
of its Subsidiaries does not control the Board of Directors or other governing body of such Person
or does not otherwise control the declaration of a dividend or other distribution, except to the
extent of the amount of dividends or other distributions actually paid to the Company or any of its
Subsidiaries by such Person during such period, (ii) the income of any Person accrued prior to the
date it becomes a Subsidiary of the Company or is merged into or consolidated with the Company or
any of its Subsidiaries or that Person’s assets are acquired by the Company or any of its
Subsidiaries, (iii) gains or losses from the sale, exchange, transfer or other disposition of
property or assets not in the ordinary course of business of the Company and its Subsidiaries, and
related tax effects in accordance with Agreement Accounting Principles, (iv) any other
extraordinary or non-recurring gains or other income not from the continuing operations of the
Company or its Subsidiaries, and related tax effects in accordance with Agreement Accounting
Principles and (v) the income of any Subsidiary of the Company to the extent that the declaration
or payment of dividends or similar distributions by that Subsidiary of that income is not at the
time permitted by operation of the terms of its charter or any agreement, instrument, judgment,
decree, order, statute, rule or governmental regulation applicable to that Subsidiary and such
income exceeds $500,000 in any fiscal year for such Subsidiary, plus (d) any extraordinary
or non-recurring non-cash losses not from the continuing operations of the Company and its
Subsidiaries, and related tax effects, in accordance with Agreement Accounting Principles, plus
(e)(i) the amount of all existing cash restructuring charges taken by the Company in the fiscal
quarters ending on or before June 30, 2009, (ii) an amount not to exceed $3,800,000 in aggregate
amount for cash restructuring charges taken by the Company in the fiscal quarter ending September
30, 2009, (iii) an amount not to exceed $2,000,000 in aggregate amount for cash restructuring
charges taken by the Company in the fiscal quarter ending December 31, 2009, plus (iv) an amount
not to exceed $18,000,000 in aggregate amount for cash restructuring charges taken by the Company
in the fiscal year ending December 31, 2010, plus, (v) an amount not to exceed $5,000,000 in
aggregate amount for cash restructuring charges taken by the Company at any time during the period
from the Effective Date through December 31, 2010, and (vi) an amount not to exceed $5,000,000 in
aggregate amount relating to future cash restructuring charges taken by the Company at any time,
which add-backs shall be taken by the Company in the quarter in which any such charges were taken
and shall continue for any calculation thereafter which includes such quarter.

 

8

 

“Economic and Monetary Union” or “EMU” shall mean the Economic and Monetary
Union of the European Union.

“Effective Date” means the later of (a) date on which the conditions precedent set
forth in Section 4.1 are satisfied and (b) September 28, 2009.

“Eligible Receivables” means, as of any date, those accounts receivable of the Company
and its Subsidiaries which are subject to the first-priority perfected security interest in favor
of the Collateral Agent for the benefit of the Secured Parties or which are owned by a
Securitization Entity, provided that the Collateral Agent for the benefit of the Secured Parties
has a first-priority perfected security interest in all Equity Interests of the such Securitization
Entity and such Securitization Entity is otherwise in compliance with the terms of this Agreement,
valued at the face amount thereof less, without duplication, such reserves as may be established by
the Company or on the books and records of the Company and less such reserves as the Agent elects
to establish in its credit judgment, but shall not include any such account receivable (a) that is
not a bona fide existing obligation created by the sale and actual delivery of inventory or the
provision of services in the ordinary course of business, (b) that is outstanding more than 63 days
past due or is payable on terms greater than 90 days, provided, that, accounts receivable with
terms greater than 90 days but less than or equal to 120 days may be included as “Eligible
Receivables” up to an aggregate amount of 5% of all Eligible Receivables, (c) that is subject to
any dispute, contra-account, defense, offset, counterclaim, or Lien, or the inventory of which such
account receivable constitutes proceeds is subject to any such Lien, (d) which is owing by an
account debtor for which more than 50% of the accounts owing from such account debtor and its
Affiliates are ineligible, (e) which (i) does not arise from the performance of services in the
ordinary course of business, or (ii) is contingent upon the Company’s or such Guarantor’s
completion of any further performance, (f) for which the services giving rise to such account have
not been performed by the Company or such Guarantor or if such account was invoiced more than once,
(g) which is owed by an account debtor which is not organized under applicable law of the U.S. or
any state of the U.S., (h) which is owed in any currency other than U.S. Dollars, (i) which is owed
by the government of the U.S., or any department, agency, public corporation, or instrumentality
thereof, unless the Federal Assignment of Claims Act of 1940, as amended (31 U.S.C. § 3727
et seq. and 41 U.S.C. § 15 et seq.), and any other steps necessary
to perfect the Lien of the Agent in such account have been complied with to the Agent’s
satisfaction, provided, that, accounts receivable of the type described in this clause (i) may be
included as “Eligible Receivables” up to an aggregate amount of 5% of all Eligible Receivables, (j)
which is owed by any Affiliate, employee, officer, director, agent or stockholder of the Company or
any of its Subsidiaries, (k) which is owed by an account debtor or any Affiliate of such account
debtor (in each case, other than a Lender) to which the Company or any Guarantor is indebted, but
only to the extent of such indebtedness and to the extent such indebtedness is due and payable or
is subject to any security, deposit, progress payment, retainage or other similar advance made by
or for the benefit of an Account Debtor, in each case to the extent thereof, (l) that has failed to
meet established or customary credit standards of the Company, (m) with respect to which any
representation or warranty contained in Section 5.20 is incorrect at any time, (n) that is payable
by any person that is the subject of any proceeding seeking to adjudicate it a bankrupt or
insolvent or seeking liquidation, winding up, or reorganization, arrangement, adjustment,
protection, relief, or composition of it or its debts under any law relating to bankruptcy,
insolvency, or reorganization or relief or protection of debtors or seeking the appointment of a
receiver, trustee, custodian, or other similar official for it or for any substantial part of its
property, or that is not generally paying its debts as they become due or has admitted in writing
its inability to pay its debts generally, or has made a general assignment for the benefit of
creditors, (o) that is subordinate or junior in right or priority of payment to any other unsecured
obligation or claim, (p) any receivables which are deemed not eligible under the terms of any
Qualified Receivables Transaction, or (q) that for any other reason is at any time reasonably
deemed by the Agent to be ineligible.

 

9

 

“Eligible Currency” shall mean any currency that is freely transferable and freely
convertible into Dollars, which is available in the London Interbank Market and in respect of which
the U.S. Dollar Equivalent may be readily calculated. If currency control or other exchange
regulations are imposed in
the country in which such currency is issued with the result that different types of such
currency are introduced, such country’s currency is, in the determination of the Agent, no longer
readily available or freely traded or as to which, in the determination of the Agent, a Dollar
Equivalent is not readily calculable, then the Agent shall promptly notify the Company, and such
country’s currency shall no longer be an Eligible Currency until such time as the Agent agrees to
reinstate such country’s currency as an Eligible Currency and promptly, but in any event within
five (5) Business Days of receipt of such notice from the Agent, the Borrowers with respect to such
Eligible Currency shall repay all Loans in such affected currency or convert such Loans into Loans
in Dollars or an Eligible Currency, as applicable, subject to the other terms of this Agreement.

“Eligible Liabilities” means eligible liabilities as defined under or pursuant to the
Bank of England Act 1998 or by the Bank of England (as may be appropriate) for the time being.

“Environmental Laws” means, with respect to any Borrower or Guarantor, any and all
federal, state, local and foreign statutes, laws, judicial decisions, regulations, ordinances,
rules, judgments, orders, decrees, plans, injunctions, permits, concessions, grants, franchises,
licenses, agreements and other governmental restrictions relating to (a) the protection of the
environment, (b) the effect of the environment on human health, (c) emissions, discharges or
releases of pollutants, contaminants, hazardous substances or wastes into surface water, ground
water or land, or (d) the manufacture, processing, distribution, use, treatment, storage, disposal,
transport or handling of pollutants, contaminants, hazardous substances or wastes or the clean-up
or other remediation thereof, in each case, applicable to such Borrower or Guarantor or their
respective Property.

“Equity Interests” means shares of capital stock, partnership interests, membership
interests in a limited liability company, beneficial interests in a trust or other equity ownership
interests in a Person, and any warrants, options or other rights entitling the holder thereof to
purchase or acquire any such equity interest.

“ERISA” means the Employee Retirement Income Security Act of l974, as amended from
time to time, and any rule or regulation issued thereunder.

“Euro” and/or “EUR” means the euro referred to in Council Regulation (EC) No.
1103/97 dated June 17, 1997 passed by the Council of the European Union, or, if different, the then
lawful currency of the member states of the European Union that participate in the third stage of
EMU.

“Eurocurrency Advance” means an Advance which bears interest at the applicable
Eurocurrency Rate.

“Eurocurrency Loan” means a Loan which bears interest at the applicable Eurocurrency
Rate.

“Eurocurrency Reference Rate” means, with respect to a Eurocurrency Advance for the
relevant Interest Period, the applicable British Bankers’ Association LIBOR rate for deposits in
the applicable Eligible Currency as reported by any generally recognized financial information
service as of 11:00 a.m. (London time) two Business Days prior to the first day of such Interest
Period, and having a maturity equal to such Interest Period, provided that, if no such British
Bankers’ Association LIBOR rate is available for any Eligible Currency and with respect to all
Eurocurrency Advances denominated in Pounds Sterling, the applicable Eurocurrency Reference Rate
for the relevant Interest Period shall instead be the rate determined by the Agent to be the
arithmetic average of the rate reported to the Agent by each Reference Lender as the rate at which
such Reference Lender offers to place deposits in the applicable Eligible Currency with first-class
banks in the London interbank market at approximately 11:00 a.m. (London time) two Business Days
prior to the first day of such Interest Period, in the approximate amount
of such Reference Lender’s relevant Eurocurrency Loan and having a maturity equal to such
Interest Period. If any Reference Lender fails to provide such quotation to the Agent, then the
Agent shall determine the Eurocurrency Reference Rate on the basis of the quotations of the
remaining Reference Lender(s). As of the Effective Date, such alternate rate calculation set forth
in the proviso of this definition shall be applicable with respect to the following currencies:
Norwegian Krona and Swedish Krona.

 

10

 

“Eurocurrency Rate” means, with respect to a Eurocurrency Advance for the relevant
Interest Period, the sum of (i) the quotient of (a) the Eurocurrency Reference Rate applicable to
such Interest Period, divided by (b) one minus the Reserve Requirement (expressed as a decimal)
applicable to such Interest Period, if any, plus (ii) the Applicable Margin, plus (iii) with
respect to Loans denominated in Pounds Sterling, if applicable, the Associated Costs Rate.

“Exchange Rate” means the Agent’s spot rate of exchange in the interbank market where
its foreign currency exchange operations in respect of such non-U.S. Dollar currency are then being
conducted, at or about 10:00 A.M., local time, on such date for the purchase of U.S. Dollars with
such non-U.S. Dollar currency, for delivery three Business Days later; provided, that if at
the time of any such determination, no such spot rate can reasonably be quoted, the Agent may use
any reasonable method as it deems applicable to determine such rate, and such determination shall
be conclusive absent manifest error.

“Facility LC” is defined in Section 2.19(a).

“Facility LC Application” is defined in Section 2.19(c).

“Facility LC Collateral Account” is defined in Section 2.19(k).

“Facility Termination Date” means the earlier to occur of (a) September 28, 2012 or
(b) the date on which the Commitments are terminated pursuant to Article VIII.

“Federal Funds Effective Rate” means, for any day, an interest rate per annum equal to
the weighted average of the rates on overnight Federal funds transactions with members of the
Federal Reserve System arranged by Federal funds brokers on such day, as published for such day
(or, if such day is not a Business Day, for the immediately preceding Business Day) by the Federal
Reserve Bank of New York, or, if such rate is not so published for any day which is a Business Day,
the average of the quotations at approximately 10:00 a.m. (Chicago time) on such day on such
transactions received by the Agent from three Federal funds brokers of recognized standing selected
by the Agent in its sole discretion.

“Financial Contract” of a Person means (a) any exchange-traded or over-the-counter
futures, forward, swap or option contract or other financial instrument with similar
characteristics or (b) any Rate Management Transaction.

“Floating Rate” means, for any day, a rate per annum equal to (i) the Alternate Base
Rate for such day, in each case changing when and as the Alternate Base Rate changes plus (ii) the
Applicable Margin.

“Floating Rate Advance” means an Advance which bears interest at the Floating Rate.

“Floating Rate Loan” means a Loan which bears interest at the Floating Rate.

“Foreign Currency” means any Foreign Syndicated Currency or Alternate Currency.

 

11

 

“Foreign Subsidiary” means each Subsidiary organized under the laws of a jurisdiction
outside of the United States.

“Foreign Subsidiary Borrower” means each Wholly-Owned Subsidiary listed as a Foreign
Subsidiary Borrower in Schedule 1.1(b) as amended from time to time in accordance with Section
8.2(b).

“Foreign Syndicated Currency” shall mean any currency which is an Eligible Currency
and which has been approved by the Lenders; provided, that, subject to the terms of
this Agreement (including without limitation Section 3.3), Pounds Sterling, Euro, Canadian Dollars,
Australian Dollars, Japanese Yen, Swiss Francs, Danish Krona, Norwegian Krona, Swedish Krona and
New Zealand Dollars shall be deemed approved by the Lenders.

“Governmental Authority” means any nation or government, any state, or other political
subdivision thereof and any entity exercising executive, legislative, judicial, regulatory or
administrative functions of or pertaining to government.

“Guaranteed Obligations” is defined in Section 9.1.

“Guarantor” means (a) with respect to the Obligations and Rate Management
Obligations owing by a Borrower, each Subsidiary Guarantor, and (b) with respect to the Obligations
and Rate Management Obligations owing by a Foreign Subsidiary Borrower, the Company and its
successors and assigns, and each Subsidiary Guarantor.

“Guaranty” means the guarantee contained in Article IX, including any amendment,
modification, renewal or replacement of such guaranty agreement and any separate guaranty, in form
and substance satisfactory to the Agent delivered by any Guarantor, as it may be amended or
modified from time to time.

“Inactive Subsidiary” means a Subsidiary which has no assets and conducts no business.
Schedule 1.1(c) is a list of all Inactive Subsidiaries as of the Effective Date.

“Increasing Lender” is defined in Section 2.1(f).

“Indebtedness” of a Person means, without duplication, such Person’s (a) obligations
for borrowed money, (b) obligations representing the deferred purchase price of Property or
services (other than accounts payable and/or accrued expenses arising in the ordinary course of
such Person’s business payable in accordance with customary practices), (c) obligations, whether or
not assumed, secured by Liens on property now or hereafter owned or acquired by such Person, (d)
obligations which are evidenced by notes, acceptances, or other instruments (other than Financial
Contracts), (e) Capitalized Lease Obligations, (f) all reimbursement and similar obligations under
outstanding letters of credit, bankers acceptances, surety bonds or similar instruments in respect
of drafts or other claims which may be presented or have been presented and have not yet been paid,
(g) the aggregate outstanding amount of all Off Balance Sheet Liabilities, based on the aggregate
outstanding amounts sold, signed, discounted or otherwise transferred or financed, whether or not
shown as a liability on a consolidated balance sheet of the Company and its Subsidiaries, including
without limitation, all Receivables Transaction Attributed Indebtedness, and (h) all Contingent
Liabilities of such Person with respect to or relating to Indebtedness of others the same as those
described in clauses (a) through (g) of this definition. For purposes of this definition, there
shall be excluded from “Indebtedness” all standby letters of credit, bank guaranties, surety bonds
and similar instruments which are issued in connection with workers compensation obligations or
other statutory or governmental obligations up to an aggregate amount of $100,000,000.
All such other instruments shall be included in the calculation of “Indebtedness”. For the
avoidance of doubt, Operating Leases are not Indebtedness.

 

12

 

“Intercreditor Agreement” shall mean the Collateral Agency and Intercreditor Agreement
among the Secured Parties of the Borrowers and JPMCB, as Collateral Agent, dated as of the date
hereof, as amended or modified from time to time, provided that such Intercreditor Agreement, and
any amendments or modifications thereto, shall be in form and substance acceptable to the Required
Lenders and the Agent.

“Interest Coverage Ratio” means, as of the end of any fiscal quarter, the ratio of (a)
EBITDA to (b) Interest Expense, in each case calculated for the four consecutive fiscal quarters
then ending, on a consolidated basis for the Company and its Subsidiaries in accordance with
Agreement Accounting Principles.

“Interest Expense” means, with respect to any period, the aggregate of all interest
expense reported by the Company and its Subsidiaries in accordance with Agreement Accounting
Principles during such period. As used in this definition, the term “interest” shall include,
without limitation, all interest, fees and costs payable with respect to the obligations under this
Agreement, any discount and/or other expenses or interest component in respect of sales of accounts
receivable and/or related contract rights and the interest portion of Capitalized Lease payments
during such period, all as determined in accordance with Agreement Accounting Principles.

“Interest Payment Date” shall mean (a) with respect to any Eurocurrency Rate Loan, the
last day of each Interest Period with respect to such Revolving Credit Loan and, in the case of any
Interest Period exceeding three months, those days that occur during such Interest Period at
intervals of three months after the first day of such Interest Period, (b) with respect to any
Alternate Currency Loan, the date specified as the date on which interest is payable in the
applicable Alternate Currency Addendum and (c) in all other cases, the last Business Day of each
March, June, September and December occurring after the date hereof, commencing with the first such
Business Day occurring after the date of this Agreement.

“Interest Period” means with respect to any Eurocurrency Loan:

(a) initially, the period commencing on the borrowing or continuation date, as the case may
be, with respect to such Loan and ending one, two, three, or six months thereafter, as selected by
the relevant Borrower in its notice of borrowing or notice of continuation, as the case may be,
given with respect thereto; and

(b) thereafter, each period commencing on the last day of the next preceding Interest Period
applicable to such Loan and ending one, two, three or six months thereafter, as selected by the
relevant Borrower by irrevocable notice to the Agent not less than three Business Days prior to the
last day of the then current Interest Period with respect thereto, or, if not selected by such
Borrower, ending one month thereafter in accordance with Section 2.8;

 

13

 

provided that, all of the foregoing provisions relating to Interest Periods are
subject to the following:

(i) if any Interest Period pertaining to a Loan would otherwise end on a day that is not a
Business Day, such Interest Period shall be extended to the next succeeding Business Day unless the
result of such extension would be to carry such Interest Period into another calendar month in
which event such Interest Period shall end on the immediately preceding Business Day;

(ii) any Interest Period applicable to a Loan that would otherwise extend beyond, the Facility
Termination Date, shall end on the Facility Termination Date; and

(iii) any Interest Period pertaining to a Loan that begins on the last Business Day of a
calendar month (or on a day for which there is no numerically corresponding day in the calendar
month at the end of such Interest Period) shall end on the last Business Day of a calendar month.

“Investment” of a Person means any loan, advance (other than commission, moving,
travel and similar advances to officers and employees made in the ordinary course of business),
extension of credit (other than accounts receivable and/or accrued expenses arising in the ordinary
course of business payable in accordance with customary practices and loans to employees in the
ordinary course of business) or contribution of capital by such Person; stocks, bonds, mutual
funds, partnership interests, notes, debentures or other securities owned by such Person; any
deposit accounts and certificates of deposit owned by such Person; and structured notes,
derivative financial instruments and other similar instruments or contracts owned by such Person
(other than Financial Contracts).

“Japanese Yen” means the lawful currency of Japan.

“Joinder Agreement” means the Joinder Agreement to be entered into by each Foreign
Subsidiary Borrower subsequent to the date hereof pursuant to Section 8.2(b), substantially in the
form of Exhibit B hereto.

“JPMCB” means JPMorgan Chase Bank, N.A., a national banking association (including its
branches and affiliates).

“Judgment Currency” is defined in Section 16.6.

“Kelly Family” means Terence E. Adderley, his parents, his spouse, his children and
the legal descendants of each, together with the brothers and sisters of William R. Kelly and their
legal descendants.

“Kelly Trust” means, collectively, (i) the William R. Kelly Irrevocable Trust dated
July 14, 1972, (ii) the William R. Kelly Trust for Terence E. Adderley, dated February 24, 1964,
and (iii) the Terence E. Adderley Revocable Trust B, dated October 9, 2001, in each case as the
same have been or shall be amended from time to time.

“LC Exposure” is defined in Section 2.17(c).

“LC Fee” is defined in Section 2.19(d).

“LC Issuer” means any Lender who agrees to be designated as an “LC Issuer” hereunder
and issue Facility LCs hereunder (or any Subsidiary or affiliate of such Lender) upon request and
approval of the Company and the Agent; provided, that, no more than three Lenders
may be designated as “LC Issuers” at any time.

“LC Obligations” means, at any time, the sum, without duplication, of (i) the
aggregate undrawn stated amount under all Facility LCs outstanding at such time plus (ii) the
aggregate unpaid amount at such time of all Reimbursement Obligations.

“LC Payment Date” is defined in Section 2.19(e).

 

14

 

“Lenders” means the lending institutions listed on the signature pages of this
Agreement and their respective successors and, to the extent permitted by Section 13.3, assigns.
Unless otherwise specified, the term “Lenders” includes JPMCB in its capacity as Swing Line Lender.

“Lending Installation” means, with respect to a Lender or the Agent, any office,
branch, subsidiary or affiliate of such Lender or the Agent, as the case may be.

“Leverage Ratio” means, as of the end of any fiscal quarter, the ratio of (a) Total
Indebtedness at such date to (b) Total Capitalization at such date, in each case calculated on a
consolidated basis for the Company and its Subsidiaries in accordance with Agreement Accounting
Principles.

“Lien” means any lien (statutory or other), mortgage, pledge, hypothecation, fixed or
floating charge, assignment, deposit arrangement, encumbrance or preference, priority or other
security agreement or preferential arrangement of any kind or nature whatsoever (including, without
limitation, the interest of a vendor or lessor under any conditional sale, Capitalized Lease or
other title retention agreement); provided that the filing of financing statements solely with
respect to, or other lien or claim solely on, any interest in Qualified Receivables Transaction
Assets shall not be considered a Lien.

“Loan” means, with respect to a Lender, such Lender’s Revolving Credit Loans or
Alternate Currency Loans, and, with respect to the Swing Line Lender, Swing Line Loans.

“Loan Documents” means this Agreement, the Guaranties, the Facility LC Applications,
the Alternate Currency Addendums, the Collateral Documents, any Notes issued pursuant to Section
2.2(c) and the other agreements, certificates and other documents contemplated hereby or executed
or delivered pursuant hereto by any Borrower or any Guarantor at any time on or after the date of
execution of this Agreement with or in favor of the Agent or any Lender.

“Margin Stock” means margin stock as defined in Regulations G, T, U or X.

“Material Adverse Effect” means a material adverse effect on (i) the business,
Property, condition (financial or otherwise) or results of operations of the Company and its
Subsidiaries taken as a whole, (ii) the ability of the Guarantor to pay its Obligations under this
Agreement, including the Guaranty, or (iii) the validity or enforceability of this Agreement,
including the Guaranty, the Notes or the Alternate Currency Addendums.

“Material Indebtedness” is defined in Section 7.5.

“Material Plan” is defined in Section 7.10.

“Modify” and “Modification” are defined in Section 2.19(a).

“Moody’s” means Moody’s Investors Service, Inc.

“More Favorable Provision” is defined in Section 6.18.

“Multiemployer Plan” means a plan defined in Section 4001(a)(3) of ERISA to which the
Company or any member of the Controlled Group has an obligation to contribute.

“National Currency Unit” means the unit of currency (other than a Euro unit) of each
member state of the European Union that participates in the third stage of Economic and Monetary
Union.

 

15

 

“Net Mark-to-Market Exposure” of a Person means, as of any date of determination, the
excess (if any) of all unrealized losses over all unrealized profits of such Person arising from
Rate Management Transactions and other Financial Contracts. “Unrealized losses” means the fair
market value of the cost to such Person of replacing such Rate Management Transaction or Financial
Contract as of the date of determination (assuming the Rate Management Transaction or Financial
Contract were to be terminated as of that date), and “unrealized profits” means the fair market
value of the gain to such Person of replacing such Rate Management Transaction or Financial
Contract as of the date of determination (assuming such Rate Management Transaction or Financial
Contract were to be terminated as of that date).

“Net Worth” means the consolidated shareholder’s equity of the Company and its
Subsidiaries, including minority interests, all on a consolidated basis in accordance with
Agreement Accounting Principles, provided that the amount of foreign currency translation
shall be excluded at all times.

“Non-Excluded Taxes” is defined in Section 3.6(a).

“Non-Paying Guarantor” is defined in Section 9.11.

“Notes” means the collective reference to the Revolving Credit Notes.

“Notice of Assignment” is defined in Section 13.3(b).

“Notice of Drawdown” means a notice substantially in the form attached hereto as
Exhibit D.

“Obligated Party” is defined in Section 9.2.

“Obligations” of a Borrower means, the unpaid principal of and interest on the Loans
of such Borrower, all Reimbursement Obligations of such Borrower, all Rate Management Obligations
of such Borrower to any Lender and all other obligations and liabilities of such Borrower under
this Agreement and the other Loan Documents (including, without limitation, interest accruing at
the then applicable rate provided in this Agreement or any other applicable Loan Document after the
maturity of the Loans and interest accruing at the then applicable rate provided in this Agreement
or any other applicable Loan Document after the filing of any petition in bankruptcy, or the
commencement of any insolvency, reorganization or like proceeding, relating to such Borrower,
whether or not a claim for post-filing or post-petition interest is allowed in such proceeding),
whether direct or indirect, absolute or contingent, due or to become due, or now existing or
hereafter incurred, which may arise under, out of, or in connection with, this Agreement, the other
Loan Documents or any other document made, delivered or given in connection therewith, in each case
whether on account of principal, interest, reimbursement obligations, fees, indemnities, costs,
expenses or otherwise (including, without limitation, all reasonable fees and disbursements of
counsel to the Agent or to the Lenders that are required to be paid by such Borrower pursuant to
the terms of this Agreement or any other Loan Document). Obligations of the Guarantors shall
include collectively the Obligations of all of the Borrowers and the obligations of all of the
Guarantors under the Guaranty as provided in this Agreement.

“Off Balance Sheet Liability” of a Person means (i) any repurchase obligation or
liability of such Person with respect to accounts or notes receivable sold by such Person, (ii) any
liability under any Sale and Leaseback Transaction which is not a Capitalized Lease, (iii) any
liability under any so-called “synthetic lease” transaction entered into by such Person, or (iv)
any obligation arising with respect to any other transaction which is the functional equivalent of
or takes the place of borrowing but which does not constitute a liability on the balance sheet of
such Person, but excluding from this clause (iv) Operating Leases.

 

16

 

“Operating Lease” of a Person means any lease of Property (other than a Capitalized
Lease) by such Person as lessee.

“Original Dollar Amount” means, in relation to an Advance, the amount thereof
requested in the Notice of Drawdown relating thereto or, if such Advance is not denominated in
Dollars, the U.S. Dollar Equivalent of such amount, calculated as at the date of such Notice of
Drawdown.

“Outstanding Credit Exposure” means, as to any Lender at any time, the sum of (i) the
U.S. Dollar Equivalent on such date of the aggregate unpaid principal amount of Loans outstanding
in respect of such Lender at such time, plus (ii) an amount equal to its Pro Rata Share of the LC
Obligations at such time, plus (iii) an amount equal to its Pro Rata Share of the aggregate
principal amount of Swing Line Loans outstanding at such time.

“Participants” is defined in Section 13.2(a).

“Paying Guarantor” is defined in Section 9.11.

“Payment Date” means each February 28, May 30, August 30 and November 30 occurring
after the Effective Date, commencing November 30, 2009.

“PBGC” means the Pension Benefit Guaranty Corporation, or any successor thereto.

“Permitted Acquisition” means an Acquisition by the Company or any Subsidiary in a
transaction that satisfies each of the following requirements:

(a) such Acquisition is not a hostile or contested acquisition;

(b) both before and after giving effect to such Acquisition and the Loans (if any) requested
to be made in connection therewith, each of the representations and warranties in the Loan
Documents is true and correct and no Default or Unmatured Default exists or would be caused
thereby; and

(c) the total consideration (whether in cash, by the incurrence or assumption of any
Indebtedness, by any deferred payments or by the payment or transfer of any other consideration)
paid or payable for all Acquisitions made during the term of this Agreement shall not exceed (i)
$15,000,000 if the Interest Coverage Ratio is less than 3.0 to 1.0 as calculated for the most
recent four consecutive fiscal quarters as of the date of determination at the time of the proposed
Acquisition, or (y) $50,000,000 if the Interest Coverage Ratio is greater than 3.0 to 1.0 as
calculated for the most recent four consecutive fiscal quarters as of the date of determination at
the time of the proposed Acquisition, in each case after giving effect to such Acquisition.

“Person” means any natural person, corporation, firm, joint venture, limited liability
company, partnership, association, enterprise, company or other entity or organization, or any
government or political subdivision or any agency, department or instrumentality thereof.

“Plan” means an employee pension benefit plan which is covered by Title IV of ERISA or
subject to the minimum funding standards under Section 412 of the Code as to which the Company or
any member of the Controlled Group has any obligation to contribute to on or after the Effective
Date.

“Pounds Sterling” or “Pounds” shall mean the lawful currency of the United
Kingdom.

“Pricing Schedule” means the Schedule attached hereto as Exhibit A.

 

17

 

“Prime Rate” means a rate per annum equal to the prime rate of interest announced from
time to time by JPMCB or its parent (which is not necessarily the lowest rate charged to any
customer), changing when and as said prime rate changes.

“Property” of a Person means any and all property, whether real, personal, tangible,
intangible, or mixed, of such Person, or other assets owned, leased or operated by such Person.

“Pro Rata Share” means, for each Lender, the ratio of such Lender’s Commitment
(calculated using the U.S. Dollar Equivalent thereof) to the Aggregate Commitments (calculated
using the U.S. Dollar Equivalent thereof), provided, that (a) with respect to Revolving
Credit Loans, LC Obligations and Swing Line Loans, Pro Rata Share means, for each Lender, the ratio
such Lender’s Revolving Credit Commitment bears to the Aggregate Revolving Credit Commitments, and
(b) with respect to Alternate Currency Loans for any Alternate Currency Facility, Pro Rata Share
means, for each Alternate Currency Lender for each Alternate Currency Facility, the ratio such
Alternate Currency Lender’s Alternate Currency Commitment for such Alternate Currency Facility
bears to the aggregate Alternate Currency Commitments for such Alternate Currency Facility. If at
any time the Commitments have been terminated, the amount of any Commitment for the purposes of
this definition of “Pro Rata Share” only shall be deemed equal to the amount of such Commitment
immediately prior to its termination.

“Purchasers” is defined in Section 13.3(a).

“Qualified Receivables Transaction” means any asset securitization transaction (i) by
a Securitization Entity, (ii) which is a sale or other transfer of an interest in Qualified
Receivables Transaction Assets to such Securitization Entity, which Securitization Entity will in
turn sell certain of those Qualified Receivables Transaction Assets to a special purpose entity or
a commercial paper issuance vehicle or conduit on terms and in a manner acceptable to the Agent,
(iii) which is otherwise permitted by the terms of this Agreement and any other agreement binding
on the Borrower or any of its Subsidiaries, (iv) under which 100% of the Equity Interests of such
Securitization Entity have been pledged on a first priority basis to the Collateral Agent under the
Collateral Documents, and (v) which asset securitization transaction is otherwise in form and
substance reasonably acceptable to the Agent.

“Qualified Receivables Transaction Assets” means all Receivables and Related Rights
that are sold, purportedly sold, contributed, transferred, conveyed or assigned by the Company or
any Subsidiary of the Company to the Securitization Entity (regardless of whether such transfer is
characterized as a sale, a secured loan or contribution). For the purposes hereof (i)
“Receivables” means accounts or notes receivable and (ii) “Related Rights” means (a) the rights
but not the obligations of, the Company or such Subsidiary under all related security with respect
to such Receivables, (b) all monies due or to become due to the Company or such Subsidiary with
respect to such Receivables, (c) all books and records related to such Receivables, (d) all
collections and other proceeds and products of any of such Receivables, (e) and all right title and
interest (but not obligations) in and to the lockbox accounts, into which collections or other
proceeds with respect to such Receivables may deposited, and any related investment property
acquired with any such collections or other proceeds.

“Quotation Date” means, in relation to any period for which an interest rate is to be
determined hereunder, the day on which quotations would ordinarily be given by prime banks in the
London Interbank Market for deposits in the currency in relation to which such rate is to be
determined for delivery on the first day of that period, provided that, if, for any such period,
quotations would ordinarily be given on more than one date, the Quotation Date for that period
shall be the last of those dates.

“Rate Management Obligations” means any and all obligations of the Company or any of
its Subsidiaries, whether absolute or contingent and howsoever and whensoever created, arising,
evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions
therefor), under (i) any and all Rate Management Transactions, and (ii) any and all cancellations,
buy backs, reversals, terminations or assignments of any Rate Management Transactions.

 

18

 

“Rate Management Transaction” means any transaction (including an agreement with
respect thereto) now existing or hereafter entered by the Company or any of its Subsidiaries which
is a rate swap, basis swap, forward rate transaction, commodity swap, commodity option, equity or
equity index swap, equity or equity index option, bond option, interest rate option, foreign
exchange transaction, cap transaction, floor transaction, collar transaction, forward transaction,
currency swap transaction, cross-currency rate swap transaction, currency option or any other
similar transaction (including any option with respect to any of these transactions) or any
combination thereof, whether linked to one or more interest rates, foreign currencies, commodity
prices, equity prices or other financial measures, in each case entered into to hedge a bona fide
risk and not for purposes of speculation.

“Receivables Transaction Attributed Indebtedness” means the amount of obligations
outstanding under the legal documents entered into as part of any Qualified Receivables Transaction
on any date of determination that would be characterized as principal if such Qualified Receivables
Transaction were structured as a secured lending transaction rather than as a purchase.

“Reference Lenders” means JPMCB and Bank of America, N.A.

“Regulation D” means Regulation D of the Board of Governors of the Federal Reserve
System as from time to time in effect and any successor thereto or other regulation or official
interpretation of said Board of Governors relating to reserve requirements applicable to member
banks of the Federal Reserve System.

“Regulation G” means Regulation G of the Board of Governors of the Federal Reserve
System as from time to time in effect and any successor or other regulation or official
interpretation of said Board of Governors.

“Regulation T” means Regulation T of the Board of Governors of the Federal Reserve
System as from time to time in effect and any successor or other regulation or official
interpretation of said Board of Governors.

“Regulation U” means Regulation U of the Board of Governors of the Federal Reserve
System as from time to time in effect and any successor or other regulation or official
interpretation of said Board of Governors.

“Regulation X” means Regulation X of the Board of Governors of the Federal Reserve
System as from time to time in effect and any successor or other regulation or official
interpretation of said Board of Governors.

“Reimbursement Obligations” means, at any time, the aggregate of all obligations of
the Company then outstanding under Section 2.19 to reimburse the LC Issuer for amounts paid by the
LC Issuer in respect of any one or more drawings under Facility LCs.

“Replaced Lender” is defined in Section 3.7.

“Replacement Lender” is defined in Section 3.7.

 

19

 

“Reportable Event” means a reportable event as defined in Section 4043 of ERISA and
the regulations issued under such section with respect to a Plan, excluding, however, such events
as to which the PBGC by regulation waived the requirement of Section 4043(a) of ERISA that it be
notified within 30 days of the occurrence of such event, provided, however, that a failure
to meet the minimum funding standard of Section 412 of the Code and of Section 302 of ERISA shall
be a Reportable Event regardless of the issuance of any such waiver of the notice requirement in
accordance with either Section 4043(a) of ERISA or Section 412(d) of the Code.

“Reports” is defined in Section 10.7.

“Request for a New Alternate Currency Facility” is defined in Section 2.1(d).

“Required Lenders” means (a) at any time prior to the termination of the Commitments,
Lenders holding not less than 51% of the U. S. Dollar Equivalent of the Aggregate Commitments of
all Lenders; and (b) at any time after the termination of the Commitments, Lenders whose
Outstanding Credit Exposure aggregates at least 51% of the Aggregate Outstanding Credit Exposure of
all Lenders.

“Reserve Requirement” means, with respect to an Interest Period, the maximum aggregate
reserve requirement (including all basic, supplemental, marginal and other reserves) under any
regulations of the Board of Governors of the Federal Reserve System or other Governmental Authority
having jurisdiction with respect thereto dealing with reserve requirements prescribed for
eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D).

“Restricted Payment” means any dividend or other distribution (whether in cash,
securities or other property) with respect to any Equity Interests in any Borrower or any
Subsidiary, or any payment (whether in cash, securities or other property), including any sinking
fund or similar deposit, on account of the purchase, redemption, retirement, acquisition,
cancellation or termination of any such Equity Interests in any Borrower or any Subsidiary or any
option, warrant or other right to acquire any such Equity Interests in any Borrower or any
Subsidiary.

“Revolving Credit Advance” means a borrowing hereunder (or continuation thereof)
consisting of the several Revolving Credit Loans made on the same Borrowing Date (or date of
continuation) by the Lenders to the Company of the same type and, in the case of Eurocurrency
Loans, for the same Interest Period.

“Revolving Credit Commitment” means, as to any Lender at any time, its obligation to
make Revolving Credit Loans to, and participate in Swing Line Loans and Facility LCs issued upon
the application of, the Company in an aggregate amount not to exceed at any time outstanding the
U.S. Dollar amount set forth opposite such Lender’s name in Schedule 1.1(a) under the heading
“Revolving Credit Commitments” or as otherwise established pursuant to Section 13.3, as such amount
may be reduced from time to time pursuant to Sections 2.4, 13.3 and the other applicable provisions
hereof, and “Revolving Credit Commitments” means the aggregate of all the Lenders’ Revolving Credit
Commitments.

“Revolving Credit Loans” means, with respect to a Lender, such Lender’s loans made
pursuant to Section 2.1(a).

“Revolving Credit Note” is defined in Section 2.2(c).

“S&P” means Standard & Poor’s Rating Services, a division of The McGraw Hill
Companies, Inc.

 

20

 

“Sale and Leaseback Transaction” means any sale or other transfer of Property by any
Person with the intent to lease such Property as lessee.

“Section” means a numbered section of this Agreement, unless another document is
specifically referenced.

“Secured Obligations” means, collectively, all (i) Obligations, (ii) the Term Loan
Debt, (iii) the Yen Loan Debt, (iv) Banking Services Obligations, and (v) other indebtedness and
obligations defined as “Secured Obligations” in the Intercreditor Agreement.

“Secured Parties” means the Collateral Agent, the Agent, the Lenders, the Term Loan
Lenders, the Yen Loan Lender and the other holders of the Secured Obligations.

“Securitization Entity” means a wholly-owned Subsidiary of the Company that engages in
no activities other than Qualified Receivables Transactions and any necessary related activities
and owns no assets other than as required for Qualified Receivables Transactions and no portion of
the Indebtedness (contingent or otherwise) of which is guaranteed by the Company or any Subsidiary
of the Company or is recourse to or obligates the Company or any Subsidiary of the Company in any
way, other than pursuant to customary representations, warranties, covenants, indemnities,
performance guaranties and other obligations entered into in connection with a Qualified
Receivables Transaction.

“Security Agreements” means each security agreement, pledge agreement, pledge and
security agreement and similar agreement and any other agreement from the Company or any Subsidiary
Guarantor granting a Lien on any of its personal property (including without limitation any Equity
Interests owned by the Company or such Subsidiary Guarantor), each in form and substance acceptable
to the Agent and as amended or modified from time to time, entered into by the Company or any
Subsidiary Guarantor at any time for the benefit of the Collateral Agent and the Secured Parties
pursuant to this Agreement or the Intercreditor Agreement.

“Single Employer Plan” means a Plan which is maintained by the Company or any member
of the Controlled Group for employees of the Company or any member of the Controlled Group.

“Subsidiary” of a Person means (a) any corporation more than 50% of the outstanding
securities having ordinary voting power of which shall at the time be owned or controlled, directly
or indirectly, by such Person or by one or more of its Subsidiaries or by such Person and one or
more of its Subsidiaries, or (b) any partnership, limited liability company, association, joint
venture or similar business organization more than 50% of the ownership interests having ordinary
voting power of which shall at the time be so owned or controlled. Unless otherwise expressly
provided, all references herein to a “Subsidiary” shall mean a Subsidiary of the Company.

“Subsidiary Guarantor” means each present and future Domestic Subsidiary and their
respective successors and assigns; provided that (i) no Inactive Subsidiary shall be required to be
a Subsidiary Guarantor, but shall be required to have 100% of their Equity Interests pledged to the
Collateral Agent under the Collateral Documents, (ii) upon the closing of any Qualified Receivables
Transaction, (A) any Subsidiary Guarantor which will be a Securitization Entity in connection with
any Qualified Receivables Transaction such shall be released from its obligations as a Subsidiary
Guarantor and any lien on its assets under any Collateral Document shall be released, and (B) no
newly formed Subsidiary which will be Securitization Entity in connection with any Qualified
Receivables Transaction shall be required to be a Subsidiary Guarantor so long as no assets are
transferred to such newly formed Subsidiary until simultaneously with the closing of any Qualified
Receivables Transaction; provided, that, each Securitization Entity will be
required to have 100% of their Equity Interests pledged to the Collateral
Agent under the Intercreditor Agreement, and (iii) neither The Kelly Services, Inc.
Foundation, a non-profit Michigan corporation nor The Kelly Relief Fund, a Michigan non-profit
corporation, shall be required to be a Subsidiary Guarantor.

 

21

 

“Substantial Portion” means, with respect to the Property of the Company and its
Subsidiaries, Property which (a) represents more than 15% of the consolidated assets of the Company
and its Subsidiaries as would be shown in the consolidated financial statements of the Company and
its Subsidiaries as at the beginning of the twelve-month period ending with the month in which such
determination is made, or (b) is responsible for more than 15% of the consolidated net sales or of
the consolidated net income of the Company and its Subsidiaries as reflected in the financial
statements referred to in clause (a) above.

“Supplemental Reports” is defined in Section 11.17.

“Swing Line Exposure” is defined in Section 2.17(c).

“Swing Line Lender” means JPMCB or such other Lender which may succeed to its rights
and obligations as Swing Line Lender pursuant to the terms of this Agreement.

“Swing Line Loan” means a Loan made available to the Company by the Swing Line Lender
pursuant to Section 2.16.

“Syndicated Currency” means Dollars and any Foreign Syndicated Currency.

“Term Loan Agreement” means the Loan Agreement dated as of October 3, 2008 among the
Company, the lenders party thereto and JPMorgan Chase Bank, N.A., as agent for such lenders, as
amended, modified or restated from time to time in accordance with the terms hereof.

“Term Loans” means (i) the term loan made under the Term Loan Agreement in the
original principal amount of 9,000,000 Euros and (ii) the term loan made under the Term Loan
Agreement in the original principal amount of 4,950,000 Pounds Sterling.

“Term Loan Debt” means the indebtedness and other liabilities owing pursuant to any
Term Loan Documents at any time.

“Term Loan Documents” means the Term Loan Agreement and all agreements and documents
executed in connection therewith at any time and as amended, modified or restated from time to time
in accordance with the terms hereof.

“Term Loan Lenders” means the holders of the Term Loan Debt.

“Total Assets” means, as of any date, the total assets of the Company and its
Subsidiaries on a consolidated basis as of such date in accordance with Agreement Accounting
Principles.

“Total Capitalization” means, as of any date, the sum of (a) the Net Worth at such
date plus (b) Total Indebtedness at such date.

“Total Indebtedness” means, as of any date, all Indebtedness of the Company and its
Subsidiaries on a consolidated basis as of such date.

 

22

 

“Total Indebtedness to EBITDA Ratio” means, as of the end of any fiscal quarter, the
ratio of (a) Total Indebtedness as of such date, to (b) EBITDA calculated for the four consecutive
fiscal quarters then ending, on a consolidated basis for the Company and its Subsidiaries in
accordance with Agreement Accounting Principles.

“Transferee” is defined in Section 13.4.

“Type” means, with respect to any Advance, its nature as a Floating Rate Advance or a
Eurocurrency Advance and with respect to any Loan, its nature as a Floating Rate Loan or a
Eurocurrency Loan.

“Unfunded Liabilities” means the amount (if any) by which the actuarial present value
of all benefit liabilities under all Single Employer Plans exceeds the fair market value of all
such Plan assets allocable to such benefit liabilities, all determined as of the then most recent
valuation date for such Plans using FASB actuarial assumptions for single employer plan
terminations.

“Unmatured Default” means an event which but for the lapse of time or the giving of
notice, or both, would constitute a Default.

“U.S. Dollar Equivalent” or “Dollar Equivalent” means, on any date, with
respect to any amount denominated in U.S. Dollars, such amount denominated in U.S. Dollars, and,
with respect to an amount denominated in any currency other than U.S. Dollars, the equivalent in
U.S. Dollars of such amount determined at the Exchange Rate on the date of determination of such
equivalent. In making any determination of the U.S. Dollar Equivalent for purposes of calculating
the amount of Loans to be borrowed from the respective Lenders on any Borrowing Date (including any
continuation or conversion pursuant to Section 2.8), the Agent shall use the relevant Exchange Rate
in effect on the date on which the interest rate for such Loans (including any continuation or
conversion pursuant to Section 2.8) is determined pursuant to the provisions of this Agreement and
the other Loan Documents.

“Wholly-Owned Subsidiary” of a Person means (a) any Subsidiary of which 98% or more of
the outstanding voting securities of which shall at the time be owned or controlled, directly or
indirectly, by such Person or one or more Wholly-Owned Subsidiaries of such Person, or by such
Person and one or more Wholly-Owned Subsidiaries of such Person, or (b) any partnership, limited
liability company, association, joint venture or similar business organization 98% or more of the
ownership interests having ordinary voting power of which shall at the time be so owned or
controlled.

“Yen Loan Agreement” means the Credit Facility Letter dated November 7, 2007 between
the Company and the Yen Loan Lender, as amended, modified or restated from time to time in
accordance with the terms hereof.

“Yen Loan” means the term loan made under the Yen Agreement in the original principal
amount of 5,451,052,623 Japanese Yen.

“Yen Loan Debt” means the indebtedness and other liabilities owing pursuant to any Yen
Loan Documents at any time.

“Yen Loan Documents” means the Yen Loan Agreement and all agreements and documents
executed in connection therewith at any time and as amended, modified or restated from time to time
in accordance with the terms hereof.

“Yen Loan Lender” means The Bank of Tokyo-Mitsubishi UFJ, Ltd.

The foregoing definitions shall be equally applicable to both the singular and plural forms of
the defined terms.

 

23

 

ARTICLE II.

THE CREDITS

2.1 Commitments.

(a) From and including the Effective Date and prior to the Facility Termination Date, each
Lender severally agrees, on the terms and conditions set forth in this Agreement, to (i) make or
allow there to be continued and converted Revolving Credit Loans denominated in any Syndicated
Currency to the Company and (ii) participate in Swing Line Loans and Facility LCs issued upon the
request of the Company, from time to time so long as after giving effect thereto (and to any other
Credit Extension to be advanced or continued and to any concurrent repayment of Loans) (i) the U.S.
Dollar Equivalent of the Aggregate Outstanding Revolving Credit Exposure of such Lender is equal to
or less than its Revolving Credit Commitment, (ii) the U.S. Dollar Equivalent of the Aggregate
Outstanding Revolving Credit Exposure of all Lenders does not exceed the Aggregate Revolving Credit
Commitments and (iii) the U.S. Dollar Equivalent of the Aggregate Outstanding Credit Exposure of
all Lenders does not exceed the Aggregate Commitments. Subject to the terms of this Agreement, the
Company may borrow, repay and reborrow Revolving Credit Loans at any time prior to the Facility
Termination Date. The Commitments to lend hereunder shall expire on the Facility Termination Date
(or such earlier date as may be required pursuant to the provisions hereof). The LC Issuer will
issue Facility LCs hereunder on the terms and conditions set forth in Section 2.19.

(b) Subject to the terms and conditions of this Agreement and the applicable Alternate
Currency Addendum, from and including the later of the date of this Agreement and the date of
execution of the applicable Alternate Currency Addendum and prior to the Facility Termination Date
(unless an earlier termination date shall be specified in the applicable Alternate Currency
Addendum), the Agent and the applicable Alternate Currency Lenders severally agree, on the terms
and conditions set forth in this Agreement and in the applicable Alternate Currency Addendum, to
make or allow there to be continued Alternate Currency Advances under such Alternate Currency
Addendum to the applicable Borrower party to such Alternate Currency Addendum from time to time in
the applicable Alternate Currency, in an amount not to exceed each such Alternate Currency Lender’s
applicable Alternate Currency Commitment; provided, however, at no time shall (i)
the U.S. Dollar Equivalent of the Aggregate Alternate Currency Commitments exceed $10,000,000, (ii)
the U.S. Dollar Equivalent of the Alternate Currency Advances for any specific Alternate Currency
exceed the aggregate of the Alternate Currency Commitments for that Alternate Currency, (iii) the
U.S. Dollar Equivalent of the aggregate outstanding principal amount of the Alternate Currency
Loans under any Alternate Currency Facility of any Lender exceed its Alternate Currency Commitment
for such Alternate Currency Facility, and (iv) the U.S. Dollar Equivalent of the Aggregate
Outstanding Credit Exposure of all Lenders exceed the Aggregate Commitments. Each Alternate
Currency Advance shall consist of Alternate Currency Loans made by each applicable Alternate
Currency Lender ratably in proportion to such Alternate Currency Lender’s respective Alternate
Currency Share. Subject to the terms of this Agreement and the applicable Alternate Currency
Addendum, the Borrowers may borrow, repay and reborrow Alternate Currency Advances at any time
prior to the Facility Termination Date. On the Facility Termination Date, the outstanding
principal balance of the Alternate Currency Advances shall be paid in full by the applicable
Borrower and prior to the Facility Termination Date prepayments of the Alternate Currency Advances
shall be made by the applicable Borrower if and to the extent required by this Agreement.

 

24

 

(c) If for any reason any applicable Alternate Currency Lender fails to make payment to the
Agent of any amount due under this Agreement and the applicable Alternate Currency Addendum, the
Agent shall be entitled to receive, retain and apply against such obligation the principal and
interest otherwise payable to such Alternate Currency Lender hereunder until the Agent receives
such payment from such Alternate Currency Lender or such obligation is otherwise fully satisfied.
In addition to the foregoing, if for any reason any Alternate Currency Lender fails to make payment
to the Agent of any amount due under this Agreement and the applicable Alternate Currency Addendum,
such Alternate Currency Lender shall be deemed, at the option of the Agent, to have unconditionally
and irrevocably purchased from the applicable Agent, without recourse or warranty, an undivided
interest in and participation in the applicable Alternate Currency Advance in the amount such
Alternate Currency Lender was required to pay pursuant to this Agreement and the applicable
Alternate Currency Addendum, and such interest and such participation may be recovered from such
Alternate Currency Lender together with interest thereon at the rate per annum equal to the Agent’s
cost of funds for each day during the period commencing on the date of demand by the Agent and
ending on the date such obligation is fully satisfied.

(d) The Company may, by written notice to the Agent request the establishment of additional
Alternate Currency Facilities in additional Alternate Currencies (other than Syndicated Currencies)
provided the U.S. Dollar Equivalent of the aggregate amount of all of the Alternate Currency
Commitments does not exceed $10,000,000 (“Request for a New Alternate Currency Facility”).
The Agent will promptly forward to the Lenders any Request for a New Alternate Currency Facility
received from the Company; provided each Lender shall be deemed not to have agreed to such
request unless its written consent thereto has been received by the Agent within ten (10) Business
Days from the date of such notification by the Agent to such Lender; provided, further that
any written consent delivered after the passage of such ten (10) Business Day period shall be
effective with respect to such Lender. In the event that at least one Lender consents to such
Request for a New Alternate Currency Facility, upon execution of the applicable Alternate Currency
Addendum and the other documents, instruments and agreements required pursuant to this Agreement
and such Alternate Currency Addendum, the new Alternate Currency Facility shall be established.
Upon the establishment of any Alternate Currency Facility under this Section 2.1(d), the relevant
Borrower may, at its option and upon ten (10) Business Days prior written notice to the Agent,
activate the Alternate Currency Commitments established under such Alternate Currency Facility,
which notice shall specify the Alternate Currency Commitment which is being activated, the amount
of such activation stated in U.S. Dollars and the requested date of activation. (Such activation
notice may be provided to the Agent at the time of the Request for a New Alternate Currency
Facility in the event the Borrower desires to activate the Alternate Currency Commitment
immediately upon establishment of the Alternate Currency Facility in which case no waiting period
shall be operative and only the advance notice period required by Section 2.3(b)(ii) shall be
required). Upon activation of such Alternate Currency Commitment of any Alternate Currency Lender,
(i) Alternate Currency Loans may be made under such Alternate Currency Facility, (ii) the amount of
such Alternate Currency Lender’s Revolving Credit Commitment shall be immediately reduced by the
amount of such Lender’s new Alternate Currency Commitment, (iii) the Aggregate Revolving Credit
Commitments shall be immediately reduced by the aggregate amount of such Alternate Currency
Commitments, and (iv) the Pro Rata Share of the Revolving Credit Commitment of each Lender shall be
recalculated by the Agent taking into effect the reduced Revolving Credit Commitment of such
Alternate Currency Lender. After activation of any Alternate Currency Commitment, the Borrower may
from time to time thereafter deactivate such Alternate Currency Commitment upon ten (10) Business
Days prior written notice to the Agent, specifying the Alternate Currency Commitment which is being
deactivated, the amount of the Alternate Currency Commitment being deactivated stated in U.S.
Dollars and the requested date of such deactivation. Upon deactivation of such Alternate Currency
Commitment of any Alternate Currency Lender, (i) the amount of such Alternate Currency Lender’s
Revolving Credit Commitment shall be immediately increased by the amount of such Lender’s Alternate
Currency Commitment deactivated, (ii) the Aggregate Revolving Credit Commitments shall be
immediately increased by the aggregate amount of such Alternate Currency Commitments deactivated,
and (iii) the Pro Rata Share of the Revolving Credit Commitment of each Lender shall be
recalculated by the Agent taking into effect the increased Aggregate
Revolving Credit Commitments. The Agent shall, upon any activation or deactivation under this
Section 2.1(d), distribute a revised Schedule 1.1(a) to all of the Lenders which shall indicate
each Lender’s Revolving Credit Commitment and, if any, Alternate Currency Commitments, together
with such Lender’s Pro Rata Share of the Aggregate Commitments and Aggregate Revolving Credit
Commitments, which new Schedule 1.1(a) shall automatically supersede any prior Schedule 1.1(a).
Alternate Currency Commitments may be reactivated and deactivated from time to time pursuant to
this Section 2.1(d).

 

25

 

(e) Except as otherwise required by applicable law, in no event shall the Agent or Alternate
Currency Lenders have the right to accelerate the Alternate Currency Advances outstanding under any
Alternate Currency Addendum or to terminate their Alternate Currency Commitments (if any), except
that such Agent and Alternate Currency Lenders shall, in each case, have such rights upon an
acceleration of the Loans and a termination of the Commitments pursuant to Section 8.1.

(f) Immediately and automatically upon the occurrence of a Default under Sections 7.6 or 7.7,
(A) each Lender shall be deemed to have unconditionally and irrevocably purchased from each
Alternate Currency Lender, without recourse or warranty, an undivided interest in and participation
in each Alternate Currency Loan ratably in accordance with such Lender’s Pro Rata Share of the
Aggregate Commitments, (B) immediately and automatically all Alternate Currency Loans shall be
converted to and redenominated in Dollars equal to the U. S. Dollar Equivalent of each such
Alternate Currency Loan determined as of the date of such conversion, and (C) each Alternate
Currency Lender shall be deemed to have unconditionally and irrevocably purchased from each
Lender, without recourse or warranty, an undivided interest in and participation in each Revolving
Credit Loan and each LC Obligation ratably in accordance with such Lender’s Pro Rata Share of the
Aggregate Commitments. Each of the Lenders shall pay to the applicable Alternate Currency Lender
not later than two (2) Business Days following a request for payment from such Lender, in Dollars,
an amount equal to the undivided interest in and participation in the Alternate Currency Loan
purchased by such Lender pursuant to this Section 2.1(f), and each of the Alternate Currency
Lenders shall pay to the applicable Lender not later than two (2) Business Days following a request
for payment from such Lender, in Dollars, an amount equal to the undivided interest in and
participation in the Revolving Credit Loans and LC Obligations purchased by such Alternate Currency
Lender pursuant to this Section 2.1(f), it being the intent of the Lenders that following such
equalization payments, each Lender shall hold its Pro Rata Share of the Aggregate Outstanding
Credit Exposure based on its Pro Rata Share of the Aggregate Commitments. In the event that any
Lender fails to make payment to any other Lender of any amount due under this Section 2.1(f), the
Agent shall be entitled to receive, retain and apply against such obligation the principal and
interest otherwise payable to such Lender hereunder until the Agent receives from such Lender an
amount sufficient to discharge such Lender’s payment obligation as prescribed in this Section
2.1(f) together with interest thereon at the rate per annum equal to the Agent’s cost of funds for
each day during the period commencing on the date of demand by the Agent and ending on the date
such obligation is fully satisfied.

(g) The Company may, with the consent of the Agent, from time to time elect to increase the
Aggregate Commitments so long as, after giving effect thereto, the total amount of the Aggregate
Commitments does not exceed $150,000,000. The Company may arrange for any such increase to be
provided by one or more Lenders (each Lender so agreeing, electing in its sole discretion, to an
increase in its Commitment, an “Increasing Lender”), or by one or more banks, financial
institutions or other entities (each such bank, financial institution or other entity, an
“Augmenting Lender”), to increase their existing Commitments, or extend Commitments,
provided that (i) each Augmenting Lender, shall be subject to the approval of the Company
and the Agent and (ii) the Company and each applicable Increasing Lender or Augmenting Lender shall
execute all such documentation as the Agent shall reasonably specify as necessary to give effect to
such increase. Increases and new Commitments created pursuant to this clause (g) shall become
effective on the date agreed by the Company, the Agent and the relevant Increasing

 

26

 

Lenders and
Augmenting Lenders, and the Agent shall notify each affected Lender thereof. Notwithstanding the foregoing, no increase in the Aggregate Commitments (or in the
Commitment of any Increasing Lender or Augmenting Lender), shall become effective under this
Section 2.1(g) unless, (i) on the proposed date of the effectiveness of such increase, the
conditions set forth Section 4.2 shall be satisfied and the Agent shall have received a certificate
to that effect dated such date and executed by a responsible officer of the Company. On the
effective date of any increase in the Aggregate Commitments, (i) each relevant Increasing Lender
and Augmenting Lender shall make available to the Agent such amounts in immediately available funds
and in the relevant currency or currencies as the Agent shall determine, for the benefit of the
other relevant Lenders, as being required in order to cause, after giving effect to such increase
and the use of such amounts to make payments to such other relevant Lenders, each Lender’s portion
of the Aggregate Outstanding Credit Exposure to equal its Pro Rata Share of the Aggregate
Outstanding Credit Exposure and (ii) the Company shall be deemed to have repaid and reborrowed all
outstanding Loans as of the date of any increase in the relevant Commitments (with such reborrowing
to consist of the Loans, with related Interest Periods if applicable, specified in a notice
delivered by the Company in accordance with the requirements of Section 2.3). The deemed payments
made pursuant to clause (ii) of the immediately preceding sentence in respect of each Eurocurrency
Loan shall be subject to indemnification by the Company pursuant to the provisions of Section 3.4
if the deemed payment occurs other than on the last day of the related Interest Periods. On the
effective date of any increase in the Aggregate Commitments, each Augmenting Lender and each
Increasing Lender shall be deemed a Lender for purposes of this Agreement. The Agent shall
promptly distribute a revised Schedule 1.1(a) to all of the Lenders, which new Schedule 1.1(a)
shall automatically supercede any prior Schedule 1.1(a).

(h) During the period from the Effective Date through the date on which the Total Indebtedness
to EBITDA Ratio shall be equal to or less than 3.0 to 1.0 for two (2) consecutive fiscal quarters,
at no time shall the amount of the Aggregate Outstanding Senior Indebtedness exceed the Borrowing
Base. The Company agrees that if at any time during such period an excess shall arise, it shall on
the next Business Day pay to the Agent the amount necessary to eliminate such excess, without
presentment, demand, protest or notice of any kind from the Agent or any Lender, all of which the
Company expressly waives.

2.2 Repayment of Loans; Evidence of Debt; Types of Advances.

(a) The Aggregate Outstanding Credit Exposure and all other unpaid Obligations shall be paid
in full to the Agent for the benefit of the Lenders by the relevant Borrower on the Facility
Termination Date. Each Borrower hereby unconditionally promises to pay to the Agent for the
account of each Lender in U.S. Dollars or the applicable Foreign Currency, as the case may be, for
such Loan, the then unpaid principal amount of each Loan of such Lender to such Borrower on the
Facility Termination Date and on such other dates and in such other amounts as may be required from
time to time pursuant to this Agreement. Each Borrower hereby further agrees to pay to the Agent
for the account of each Lender interest in U.S. Dollars or the applicable Foreign Currency, as the
case may be, for such Loan, on the unpaid principal amount of the Loans advanced to it and from
time to time outstanding until payment thereof in full at the rates per annum, and on the dates,
set forth in Section 2.9.

(b) The books and records of the Agent and of each Lender shall, absent manifest error, to
the extent permitted by applicable law, be prima facie evidence of the existence
and amounts of the obligations of the Borrowers therein recorded; provided,
however, that the failure of any Lender or the Agent to maintain any such books and records
or any error therein, shall not in any manner affect the obligation of the Borrowers to repay (with
applicable interest) the Loans made to such Borrowers by such Lender in accordance with the terms
of this Agreement.

 

27

 

(c) The Company agrees that, upon the request to the Agent by any Lender, the Company will
execute and deliver to such Lender promissory notes of the Company evidencing the Revolving Credit
Loans of such Lender, substantially in the form of Exhibit C with appropriate insertions as to date
and principal amount (each, a “Revolving Credit Note”); provided, that the delivery
of such Notes shall not be a condition precedent to the Effective Date.

(d) The Advances may be Floating Rate Advances or Eurocurrency Advances, or a combination
thereof, selected by the Company, provided, that Floating Rate Advances must be denominated in
Dollars.

2.3 Procedures for Borrowing.

(a) The Company may borrow under the Commitments from time to time prior to the Facility
Termination Date on any Business Day. The Foreign Subsidiary Borrowers may borrow under the
Alternate Currency Commitments from time to time prior to the Facility Termination Date on any
Business Day.

(b) (i) The Company may from time to time request the making of a Revolving Credit Advance by
giving irrevocable notice (a “Borrowing Notice”) to the Agent (which notice must be received by the
Agent prior to 10:00 A.M., local time of the Applicable Lending Installation of the Agent, on the
same Business Day of the Borrowing Date of each Floating Rate Advance and not less than three
Business Days prior to the requested Borrowing Date of each Eurocurrency Advance) specifying in
each case (i) the amount to be borrowed, (ii) the requested Borrowing Date (which shall be a
Business Day), (iii) the currency in which such Loan shall be denominated and its Original Dollar
Amount, and (iv) in the case of each Eurocurrency Advance, the length of the initial Interest
Period therefor. Each borrowing shall be in Dollars or a Foreign Syndicated Currency the amounts of
which shall be (a) (if less than the Aggregate Available Revolving Credit Commitments) equal to or
greater than $1,000,000 and in integral multiples of $500,000 thereafter (or, if the Advance is to
be denominated in a Foreign Syndicated Currency, such comparable and convenient amount thereof as
the Agent may from time to time specify) or (b) equal to the amount of the Aggregate Available
Revolving Credit Commitments. Upon receipt of any such notice from the Company relating to a
Revolving Credit Advance, the Agent shall promptly notify the Lenders. Not later than 1:00 P.M.,
local time at the Agent’s funding office for the Company, on the requested Borrowing Date, each
Lender shall make an amount equal to its Pro Rata Share of the principal amount of each Revolving
Credit Advance requested to be made on such Borrowing Date available to the Agent at the Agent’s
funding office for the Company specified by the Agent from time to time by notice to the Lenders
and in immediately available or other same day funds customarily used for settlement in Dollars or
in the relevant Foreign Syndicated Currency (as the case may be). The amounts made available by
each Lender will then be made available to the Company at the funding office for the Company and in
like funds as received by the Agent.

(ii) A Borrower may from time to time request the making of an Alternate Currency Loan by
giving irrevocable notice to the person to whom notice should be delivered as provided in the
applicable Alternate Currency Addendum (which notice must be received by such person prior to 10:00
A.M., local time, not less than three Business Days prior to the requested Borrowing Date)
specifying in each case (i) the amount to be borrowed, (ii) the requested Borrowing Date (which
shall be a Business Day falling one month or more before the Facility Termination Date), (iii) the
currency in which such Loan shall be denominated and its Original Dollar Amount, (iv) the length of
the initial Interest Period therefor and, (v) such other information as may be required pursuant to
the applicable Alternate Currency Addendum. Each borrowing shall be in an Alternate Currency the
amounts of which shall be (a) (if less than the aggregate Available Alternate Currency Commitments
for the applicable

 

28

 

 Alternate Currency) equal to or greater than $1,000,000 and in integral
multiples of $500,000 thereafter (or, such comparable and convenient amount thereof as the Agent or the Applicable Alternate Currency Lenders may
from time to time specify) or (b) equal to the amount of the aggregate Available Alternate Currency
Commitments for the applicable Alternate Currency. Upon receipt of any such notice from any such
Borrower relating to an Alternate Currency Loan, the person receiving such notice shall promptly
notify the applicable Alternate Currency Lenders. Not later than 2:00 P.M., local time at the
funding office for such Borrower, on the requested Borrowing Date, each applicable Alternate
Currency Lender shall make an amount equal to its Pro Rata Share of the principal amount of each
Alternate Currency Advance requested to be made on such Borrowing Date available to the Borrower at
the person’s funding office for such Borrower specified by such person from time to time by notice
to the applicable Alternate Currency Lenders and in immediately available or other same day funds
customarily used for settlement in the relevant Alternate Currency. The amounts made available by
each such Alternate Currency Lender will then be made available to the relevant Borrower at the
funding office for such Borrower and in like funds as received by such person. In the event of any
conflict between the terms and condition of this Section 2.3(b)(ii) and an Alternate Currency
Addendum, the terms of the applicable Alternate Currency Addendum shall control.

(c) If a Borrower requests that an Advance be denominated in a Foreign Currency but the Agent
is of the reasonable opinion that it is not feasible for such Advance to be denominated in such
Foreign Currency, then the Agent shall notify the Borrower and the Lenders not later than 11:00
a.m. local time on the Quotation Date for such Advance and such Advance shall not be made unless
the Borrower and the Lenders agree that such Advance shall be made in Dollars or another Foreign
Currency which is not similarly affected.

2.4
Termination or Reduction of Commitments. The Company may permanently reduce the Revolving Credit Commitments, in whole or in part,
ratably among the Lenders in integral multiples of $5,000,000, upon at least three Business Days’
written notice to the Agent, and which notice shall specify the amount of any such reduction,
provided, however, that the Aggregate Revolving Credit Commitments may not be reduced below the
Aggregate Outstanding Revolving Credit Exposure of all Lenders and the Aggregate Commitments may
not be reduced below the Aggregate Outstanding Credit Exposure of all Lenders. In addition, all
accrued facility fees shall be payable on the effective date of any termination of the Commitments.

2.5 Determination of Dollar Amounts.
 The Agent will determine the Dollar Amount of:

(a) all outstanding Loans and LC Obligations (i) on and as of the last day of each Interest
Period (but not less frequently than quarterly), (ii) on receipt of any notice from the Company as
to the reduction of the Aggregate Commitments, (iii) in connection with each delivery of a
Borrowing Base Certificate; and (iv) on any other Business Day elected by the Agent in its
discretion or upon instruction by the Required Lenders; and

(b) all outstanding Loans and LC Obligations, on each Business Day during which Aggregate
Outstanding Credit Exposure exceeds 80% of the Aggregate Commitments.

Each day upon or as of which the Agent determines Dollar Amounts as described in the preceding
clauses (a) and (b) is herein described as a “Computation Date” with respect to each Advance for
which a Dollar Amount is determined on or as of such day. If at any time the Dollar Amount of the
sum of the Aggregate Outstanding Credit Exposure exceeds the Aggregate Commitments or the Dollar
Amount of the Aggregate Outstanding Revolving Credit Exposure exceeds the Aggregate Revolving
Credit Commitments, the Borrowers shall immediately repay Advances in an aggregate principal amount
sufficient to eliminate any such excess.

 

29

 

2.6 Facility and Agent Fees.

(a) The Company agrees to pay to the Agent for the account of each Lender a facility fee at
the rate per annum equal to the Applicable Fee Rate, on the average daily amount of each Commitment
of such Lender, whether used or unused, from and including the Effective Date to but excluding the
Facility Termination Date, payable on each Payment Date hereafter and on the Facility Termination
Date. The facility fee shall be payable in Dollars.

(b) The Company agrees to pay to the Agent for its own account, such other fees as agreed to
between the Company and the Agent.

2.7 Optional and Mandatory Principal Payments on All Loans.

(a) The Company may at any time and from time to time prepay, without premium or penalty but
upon payment of any amount payable pursuant to Section 3.4, its Revolving Credit Advances in whole
or in part, upon at least three Business Days’ irrevocable notice to the Agent specifying the date
and amount of prepayment. Partial payments of Revolving Credit Advances shall be in an amount such
that the Dollar Amount of the principal of a Revolving Credit Loan will be reduced by $1,000,000 or
any integral multiple of $500,000 principal amount in excess thereof (or, if such prepayment
relates to a Loan denominated in a Foreign Currency, such comparable and convenient amount thereof
as the Agent may from time to time specify). Prepayment of any Alternate Currency Loan shall be
subject to the provisions of the applicable Alternate Currency Addendum.

(b) Each prepayment and conversion pursuant to this Section 2.7 shall be accompanied by
accrued and unpaid interest on the amount prepaid to the date of prepayment and any amounts payable
under Section 3.4 in connection with such payment.

(c) If, at any time as of any date of determination, either (a) the Aggregate Outstanding
Credit Exposure of all Lenders exceed the Aggregate Commitments, (b) the Aggregate Outstanding
Revolving Credit Exposure of all Lenders exceed the Aggregate Revolving Credit Commitments, or (c)
the U.S. Dollar Equivalent of the aggregate outstanding principal amount of Alternate Currency
Advances in any Alternate Currency exceeds the Aggregate Alternate Currency Commitments for such
Alternate Currency, then the Borrowers shall immediately prepay the Advances in an amount at least
equal to such excess.

(d) If at any time the aggregate outstanding principal amount of the Aggregate Outstanding
Senior Indebtedness shall exceed the then Borrowing Base, the Company shall forthwith pay to the
Agent an amount for application to the outstanding principal amount of the Revolving Credit Loans,
or provide to the Agent cash collateral in respect of outstanding Facility LCs in an amount, such
that the aggregate amount of such payments and such cash collateral is not less than the amount of
such excess.

(e) Prepayments pursuant to this Section 2.7 shall be applied to prepay Loans made to such
Borrower in such order as the Company may direct.

(f) All amounts prepaid may be reborrowed and successively repaid and reborrowed, subject to
the other terms and conditions in this Agreement.

 

30

 

2.8 Conversion and Continuation of Outstanding Advances.
 Floating Rate Advances shall continue as Floating Rate Advances unless and until such Floating
Rate Advances are converted into Eurocurrency Advances pursuant to this Section 2.8 or are repaid
in accordance with Section 2.7. Each Eurocurrency Advance shall continue as a Eurocurrency Advance
until the end of the then applicable Interest Period therefor, at which time such Eurocurrency
Advance shall be automatically converted into a Floating Rate Advance unless (x) such Eurocurrency
Advance is or was repaid in accordance with
Section 2.7 or (y) the Borrower shall have given the Agent a Conversion/Continuation Notice
(as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance
continue as a Eurocurrency Advance for the same or another Interest Period. Subject to the terms
of Section 2.3, the Borrower may elect from time to time to convert all or any part of a Floating
Rate Advance into a Eurocurrency Advance. The Borrower shall give the Agent irrevocable notice (a
“Conversion/Continuation Notice”) of each conversion of a Floating Rate Advance into a Eurocurrency
Advance or continuation of a Eurocurrency Advance not later than 10:00 a.m. (local time of the
Applicable Lending Installation of the Agent) at least three Business Days prior to the date of the
requested conversion or continuation, specifying:

(i) the requested date, which shall be a Business Day, of such conversion or continuation,

(ii) the aggregate amount and Type of the Advance which is to be converted or continued, and

(iii) the amount of such Advance which is to be converted into or continued as a Eurocurrency
Advance and the duration of the Interest Period applicable thereto.

2.9 Interest Rates, Interest Payment Dates; Interest and Fee Basis.

(a) Each Floating Rate Advance shall bear interest on the outstanding principal amount
thereof, for each day from and including the date such Advance is made or is automatically
converted from a Eurocurrency Advance into a Floating Rate Advance pursuant to Section 2.8, to but
excluding the date it is paid or is converted into a Eurocurrency Advance pursuant to Section 2.8
hereof, at a rate per annum equal to the Floating Rate for such day. Changes in the rate of
interest on that portion of any Advance maintained as a Floating Rate Advance will take effect
simultaneously with each change in the Alternate Base Rate. Each Eurocurrency Advance shall bear
interest on the outstanding principal amount thereof from and including the first day of the
Interest Period applicable thereto to (but not including) the last day of such Interest Period at
the interest rate determined by the Agent as applicable to such Eurocurrency Advance based upon the
Borrower’s selections under Sections 2.3 and 2.8 and otherwise in accordance with the terms hereof.
No Interest Period may end after the Facility Termination Date. Each Alternate Currency Advance
shall bear interest as specified in the applicable Alternate Currency Addendum.

(b) Interest accrued on each Loan shall be payable on each Interest Payment Date, commencing
with the first such date to occur after the Effective Date and at maturity.

(c) Interest shall be payable for the day an Advance is made but not for the day of any
payment of principal on the amount paid if payment is received prior to noon (local time) at the
place of payment. If any payment of principal of or interest on an Advance or of any fee shall
become due on a day which is not a Business Day, except as otherwise provided in the definition of
Interest Period, such payment shall be made on the next succeeding Business Day and, in the case of
a principal payment, such extension of time shall be included in computing interest in connection
with such payment.

(d) All interest and fees (including LC Fees and facility fees) shall be computed on the basis
of the actual number of days (including the first day but excluding the last day) occurring during
the period such interest or fee is payable over a year comprised of 360 days (or in the case of
interest denominated in Pounds Sterling, 365 days or as may be otherwise specified in any Alternate
Currency Addendum) or, in any case where market practice differs, in accordance with market
practice. No Interest Period may end after the Facility Termination Date. No more than thirty (30) Revolving Credit
Advances shall be permitted to exist hereunder at any one time.

 

31

 

2.10 Rates Applicable After Default.
 Notwithstanding anything to the contrary contained in this Agreement, during the continuance
of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the
Company (which notice may be revoked at the option of the Required Lenders notwithstanding any
provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates),
declare that no Advance may be made as, converted into or continued (after the expiration of the
current Interest Period) as a Eurocurrency Advance. Upon and during the continuance of any
Default, the Required Lenders may, at their option, by notice to the Company (which notice may be
revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2
requiring unanimous consent of the Lenders as to changes and interest rates) declare that (i) each
Eurocurrency Advance shall bear interest for the remainder of the applicable Interest Period at the
rate otherwise applicable to such Interest Period (with the Applicable Margin automatically
adjusted to the highest amount possible, notwithstanding where the Applicable Margin would
otherwise be set) plus 2% per annum, (ii) each Floating Rate Advance shall bear interest at a rate
per annum equal to the Floating Rate in effect from time to time plus 2% per annum, and (iii) the
LC Fee payable with respect to each Facility LC shall be increased by 2% per annum provided that,
upon and during the continuance of any acceleration for any reason of any of the Obligations, the
interest rate set forth above shall be applicable to all Advances without any election or action on
the part of the Agent or any Lender.

2.11 Pro Rata Payment, Method of Payment.
 Each borrowing of an Advance by a Borrower from the Lenders shall be made pro rata according
to the Pro Rata Shares of such Lenders in effect on the date of such borrowing. Each payment by
the Company on account of any facility fee shall be allocated by the Agent among the Lenders in
accordance with their respective Pro Rata Shares. Any reduction of the Commitments of the Lenders
shall be allocated by the Agent among the Lenders pro rata according to the Pro Rata Shares of the
Lenders with respect thereto. Except as otherwise provided in this Agreement, each optional
prepayment by the Company on account of principal or interest on its Revolving Credit Advances
shall be allocated by the Agent pro rata according to the respective outstanding principal amounts
thereof. All payments (including prepayments) to be made by a Borrower hereunder in respect of
amounts denominated in Dollars, whether on account of principal, interest, fees or otherwise, shall
be made, without setoff, deduction, or counterclaim, in immediately available funds to the Agent at
the Agent’s address specified pursuant to Article XIV, or at any other Lending Installation of the
Agent specified in writing by the Agent to the Company, by 10:00 A.M. (local time) on the date when
due. Each payment delivered to the Agent for the account of any Lender shall be delivered promptly
by the Agent to such Lender in the same type of funds that the Agent received at its address
specified pursuant to Article XIV or at any Lending Installation specified in a notice received by
the Agent from such Lender. All payments (including prepayments) to be made by a Borrower on
account of an Advance denominated in a Foreign Currency, whether on account of principal, interest,
fees or otherwise, shall be made without setoff, deduction, or counterclaim in the currency of such
Advance (in same day or other funds customarily used in the settlement of obligations in such
currency) to the Agent for the account of the Lenders, at the payment office for such Advances
specified from time to time by the Agent by notice to the Borrowers prior to 10:00 A.M. local time
at such payment office on the due date thereof. The Agent is hereby authorized to charge the
account of the Company maintained with JPMCB for each payment of principal, interest and fees as it
becomes due hereunder unless otherwise directed by the Company.

2.12 Telephonic Notices.
Each Borrower hereby authorizes the Lenders and the Agent to extend, convert or continue
Advances and to transfer funds based on telephonic notices made by any person or persons the Agent
or any Lender reasonably and in good faith believes to be an Authorized Officer. Each Borrower
agrees to deliver promptly to the Agent a written confirmation, if such confirmation is requested
by the Agent or any Lender, of each telephonic notice signed by an Authorized
Officer. If the written confirmation differs in any material respect from the action taken by
the Agent and the Lenders, the records of the Agent and the Lenders shall govern absent manifest
error.

 

32

 

2.13 Notification of Advances, Interest Rates, Prepayments and Commitment Reductions.
Promptly after receipt thereof, the Agent will notify each Lender of the contents of each
Commitment reduction notice, Borrowing Notice, and repayment notice received by it hereunder. The
Agent will notify each Lender and the relevant Borrower of the interest rate applicable to each
Advance promptly upon determination of such interest rate. Promptly after notice from the LC
Issuer, the Agent will notify each Lender of the contents of each request for issuance of a
Facility LC hereunder.

2.14 Lending Installations.
Each Lender may make and book its Loans and its participation in any LC Obligations and the LC
Issuer may book the Facility LCs at any Lending Installation(s) selected by such Lender or the LC
Issuer, as the case may be, and may change its Lending Installation(s) from time to time. All
terms of this Agreement shall apply to any such Lending Installation(s) and the Loans, Facility
LCs, participations in LC Obligations and the Notes, if any, shall be deemed held by each Lender or
the LC Issuer, as the case may be, for the benefit of such Lending Installation(s). Each Lender
and the LC Issuer may, by written or telex notice to the Agent and the applicable Borrower,
designate one or more Lending Installations which are to make and book Loans or issue Facility LCs
and for whose account Loan payments or payments with respect to Facility LCs are to be made.

2.15 Non-Receipt of Funds by the Agent.
Unless a Borrower or a Lender, as the case may be, notifies the Agent prior to the date on
which it is scheduled to make payment to the Agent of (a) in the case of a Lender, the proceeds of
a Loan or (b) in the case of a Borrower, a payment of principal, interest or fees to the Agent for
the account of the Lenders, that it does not intend to make such payment, the Agent may assume that
such payment has been made. The Agent may, but shall not be obligated to, make the amount of such
payment available to the intended recipient in reliance upon such assumption. If such Lender or
Borrower, as the case may be, has not in fact made such payment to the Agent, the recipient of such
payment shall, on demand by the Agent, repay to the Agent the amount so made available together
with interest thereon in respect of each day during the period commencing on the date such amount
was so made available by the Agent until the date the Agent recovers such amount at a rate per
annum equal to (i) in the case of payment by a Lender, the rate per annum equal to the Federal
Funds Effective Rate for such day or (ii) in the case of payment by a Borrower, the interest rate
applicable to the relevant Loan.

2.16 Swing Line Loans.

(a) Making of Swing Line Loans. The Swing Line Lender may elect in its sole
discretion to make revolving loans denominated in Dollars and any other currency which is
acceptable to the Swing Line Lender (the “Swing Line Loans”) to the Company solely for the
Swing Line Lender’s own account, from time to time prior to the Facility Termination Date up to an
aggregate principal amount at any one time outstanding not to exceed the lesser of $15,000,000 or
the Aggregate Available Revolving Credit Commitments. The Swing Line Lender may make Swing Line
Loans (subject to the conditions precedent set forth in Article IV), provided that the
Agent and the Swing Line Lender have received a request in writing or via telephone from an
Authorized Officer of the Company for funding of a Swing Line Loans no later than 11:00 A.M.,
London time, or noon (Chicago time) (as determined by reference to the Applicable Lending
Installation as described below in this Section 2.16(a)), on the Business Day on which such Swing
Line Loans is requested to be made with respect to each currency designated as “Same Day” on
Schedule 2.16 and 11:00 A.M., London time one Business Day prior to the Business Day on which such
Swing Line Loan is requested to be made with respect to each currency designated as “One Day
Notice” on Schedule 2.16, which notice shall specify the requested duration of such Swing Line
Loans, not to exceed ten (10) days unless otherwise agreed by the Swing Line Lender. All notices
to the Agent and the Swing Line Lender shall be delivered by the Company (i) with respect to Swing

 

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Line Loans denominated in Dollars, to the Agent’s and the Swing Line Lender’s Lending Installation
in Chicago, Illinois, and (ii) with respect to Swing Line Loans denominated in any currency other
than Dollars, to the Agent’s and the Swing Line Lender’s Lending Installation in London, United
Kingdom, unless and until otherwise directed by the Agent and the Swing Line Lender. The Swing
Line Lender shall not make any Swing Line Loans in the period commencing one Business Day after the
Swing Line Lender becomes aware that one or more of the conditions precedent contained in Section
4.2 are not satisfied and ending upon the satisfaction or waiver of such condition(s). Each
outstanding Swing Line Loan shall be payable on the earlier of (i) the maturity date agreed to
between the Swing Line Lender and the Company or (ii) the Facility Termination Date, with interest
at the rate agreed to between the Swing Line Lender and the Company accrued thereon and shall
otherwise be subject to all the terms and conditions applicable to Loans, except that all interest
thereon shall be payable to the Swing Line Lender solely for its own account.

(b) Swing Line Loans Borrowing Requests. The Company agrees to deliver promptly to
the Agent and the Swing Line Lender a written confirmation of each telephonic notice for Swing Line
Loans signed by an Authorized Officer. If the written confirmation differs in any material respect
from the action taken by the Swing Line Lender, the records of the Swing Line Lender shall govern,
absent manifest error.

(c) Repayment of Swing Line Loans. At any time after making a Swing Line Loan, the
Swing Line Lender may request the Company to, and upon request by the Agent the Company shall,
promptly request an Advance from all Lenders to the Company and apply the proceeds of such Advance
to the repayment of any Swing Line Loans owing by the Company not later than the Business Day
following the Swing Line Lender’s or Agent’s request. Notwithstanding the foregoing, upon the
earlier to occur of (a) one Business Day after demand is made by the Swing Line Lender, and (b) the
Facility Termination Date, each Lender (other than the Swing Line Lender) shall irrevocably and
unconditionally purchase from the Swing Line Lender, without recourse or warranty, an undivided
interest and participation in such Swing Line Loans in an amount equal to such Lender’s Pro Rata
Share of such Swing Line Loans and promptly pay such amount to the Swing Line Lender in immediately
available funds. Such payment shall be made by the other Lenders whether or not a Default is then
continuing or any other condition precedent set forth in Section 4.2 is then met and whether or not
the Company has then requested an Advance in such amount; and such Swing Line Loans shall thereupon
be deemed to be a Loan hereunder made on the date of such purchase (except, as aforesaid, with
respect to the existence of any Default or the meeting of any condition precedent specified in
Section 4.2 on such date). If any Lender fails to make available to the Swing Line Lender, any
amounts due to the Swing Line Lender from such Lender pursuant to this Section, the Swing Line
Lender shall be entitled to recover such amount, together with interest thereon at the rate per
annum equal to the Federal Funds Effective Rate for the first three Business Days after such Lender
receives notice of such required purchase and thereafter, at the rate applicable to such Loan,
payable (i) on demand, (ii) by setoff against any payments made to the Swing Line Lender for the
account of such Lender or (iii) by payment to the Swing Line Lender by the Swing Line Lender of
amounts otherwise payable to such Lender under this Agreement. The failure of any Lender to make
available to the Swing Line Lender its Pro Rata Share of any unpaid Swing Line Loans shall not
relieve any other Lender of its obligation hereunder to make available to the Swing Line Lender its
Pro Rata Share of any unpaid Swing Line Loans on the date such payment is to be made, but no Lender
shall be responsible for the failure of any other Lender to make available to the Swing Line Lender
its Pro Rata Share of any unpaid Swing Line Loans.

 

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2.17 Defaulting Lenders.
Notwithstanding any provision of this Agreement to the contrary, if any Lender becomes a
Defaulting Lender, then the following provisions shall apply for so long as such Lender is a
Defaulting Lender:

(a) fees shall cease to accrue on the unfunded portion of the Commitment of such Defaulting
Lender pursuant to Section 2.6;

(b) the Commitments and Outstanding Credit Exposure of such Defaulting Lender shall not be
included in determining whether all Lenders or the Required Lenders have taken or may take any
action hereunder (including any consent to any amendment or waiver pursuant to Section 8.2),
provided that any waiver, amendment or modification requiring the consent of all Lenders or each
affected Lender which affects such Defaulting Lender differently than other affected Lenders shall
require the consent of such Defaulting Lender;

(c) if the Pro Rata Share of the outstanding Swing Line Loans (such Lender’s “Swing Line
Exposure”) or the Pro Rata Share of the outstanding LC Obligations (such Lender’s “LC Exposure”) is
greater than zero at the time a Lender becomes a Defaulting Lender then:

(i) all or any part of such Swing Line Exposure and LC Exposure shall be reallocated among the
non-Defaulting Lenders in accordance with their respective Pro Rata Shares but only to the extent
(x) the sum of all non-Defaulting Lenders’ Outstanding Credit Exposures plus such Defaulting
Lender’s Swing Line Exposure and LC Exposure does not exceed the total of all non-Defaulting
Lenders’ Commitments and (y) the conditions set forth in Section 4.2 are satisfied at such time;
and

(ii) if the reallocation described in clause (i) above cannot, or can only partially, be
effected, the Borrower shall within one Business Day following notice by the Agent (x) first,
prepay such Swing Line Exposure and (y) second, cash collateralize such Defaulting Lender’s LC
Exposure (after giving effect to any partial reallocation pursuant to clause (i) above) in
accordance with the procedures set forth in Section 8.1 for so long as such LC Exposure is
outstanding;

(iii) if the Borrower cash collateralizes any portion of such Defaulting Lender’s LC Exposure
pursuant to Section 8.1, the Borrower shall not be required to pay any fees to such Defaulting
Lender pursuant to Section 2.19(d) with respect to such Defaulting Lender’s LC Exposure during the
period such Defaulting Lender’s LC Exposure is cash collateralized;

(iv) if the LC Exposure of the non-Defaulting Lenders is reallocated pursuant to this Section
2.17(c), then the fees payable to the Lenders pursuant to Section 2.6 and Section 2.19(d) shall be
adjusted in accordance with such non-Defaulting Lenders’ Pro Rata Shares; or

(v) if any Defaulting Lender’s LC Exposure is neither cash collateralized nor reallocated
pursuant to Section 2.17(c), then, without prejudice to any rights or remedies of the LC Issuer or
any Lender hereunder, all facility fees that otherwise would have been payable to such Defaulting
Lender (solely with respect to the portion of such Defaulting Lender’s Commitment that was utilized
by such LC Exposure) and letter of credit fees payable under Section 2.19(d) with respect to such
Defaulting Lender’s LC Exposure shall be payable to the LC Issuer until such LC Exposure is cash
collateralized and/or reallocated;

(d) so long as any Lender is a Defaulting Lender, the Swing Line Lender shall not be required
to fund any Swing Line Loan and the LC Issuer shall not be required to issue, amend or increase any
Facility LC, unless it is satisfied that the related exposure will be 100% covered by the
Commitments of the non-Defaulting Lenders and/or cash collateral will be provided by the Borrower
in accordance with Section 8.1, and participating interests in any such newly issued or increased
Facility LC or newly made Swing Line Loan shall be allocated among non-Defaulting Lenders in a
manner consistent with Section 2.17(c)(i) (and Defaulting Lenders shall not participate therein);
and

 

35

 

(e) any amount payable to such Defaulting Lender hereunder (whether on account of principal,
interest, fees or otherwise and including any amount that would otherwise be payable to such
Defaulting Lender pursuant to Section 2.17 but excluding Section 3.7) shall, in lieu of being
distributed to such Defaulting Lender, be retained by the Agent in a segregated account and,
subject to any applicable requirements of law, be applied at such time or times as may be
determined by the Agent (i) first, to the payment of any amounts owing by such Defaulting Lender to
the Agent hereunder, (ii) second, pro rata, to the payment of any amounts owing by such Defaulting
Lender to the LC Issuer or Swing Line Lender hereunder, (iii) third, to the funding of any Loan or
the funding or cash collateralization of any participating interest in any Swing Line Loan or
Facility LC in respect of which such Defaulting Lender has failed to fund its portion thereof as
required by this Agreement, as determined by the Agent, (iv) fourth, if so determined by the Agent
and the Borrower, held in such account as cash collateral for future funding obligations of the
Defaulting Lender under this Agreement, (v) fifth, pro rata, to the payment of any amounts owing to
the Borrower or the Lenders as a result of any judgment of a court of competent jurisdiction
obtained by the Borrower or any Lender against such Defaulting Lender as a result of such
Defaulting Lender’s breach of its obligations under this Agreement and (vi) sixth, to such
Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if
such payment is (x) a prepayment of the principal amount of any Loans or reimbursement obligations
in respect of LC Disbursements which a Defaulting Lender has funded its participation obligations
and (y) made at a time when the conditions set forth in Section 4.2 are satisfied, such payment
shall be applied solely to prepay the Loans of, and reimbursement obligations owed to, all
non-Defaulting Lenders pro rata prior to being applied to the prepayment of any Loans, or
reimbursement obligations owed to, any Defaulting Lender.

In the event that the Agent, the Borrower, the LC Issuer and the Swing Line Lender each agrees
that a Defaulting Lender has adequately remedied all matters that caused such Lender to be a
Defaulting Lender, then the Swing Line Exposure and LC Exposure of the Lenders shall be readjusted
to reflect the inclusion of such Lender’s Commitment and on such date such Lender shall purchase at
par such of the Loans of the other Lenders (other than Swing Line Loans) as the Administrative
shall determine may be necessary in order for such Lender to hold such Loans in accordance with its
Pro Rata Share.

2.18 Advances to be made in Euro.
If any Advance made (or to be made) would, but for this provision, be capable of being made
either in the Euro or in a National Currency Unit, such Advance shall be made in the Euro.

2.19 Facility LCs.

(a) Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in
this Agreement, to issue standby and commercial letters of credit (each, a “Facility LC”) and to
renew, extend, increase, decrease or otherwise modify each Facility LC (“Modify,” and each such
action a “Modification”), from time to time from and including the date of this Agreement and prior
to the Facility Termination Date upon the request of the Company; provided that immediately after
each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC
Obligations shall not exceed $60,000,000, (ii) the Aggregate Outstanding Credit Exposure shall not
exceed the Aggregate Commitment and (iii) the Aggregate Outstanding Revolving Credit Exposure shall
not exceed the Aggregate Revolving Credit Commitments. No Facility LC shall have an expiry date
later than the earlier of (x) the fifth Business Day prior to the Facility Termination Date and (y)
one year after its issuance or, if agreed by the LC Issuer, eighteen (18) months after its
issuance.

(b) Participations. Upon the issuance or Modification by the LC Issuer of a Facility
LC in accordance with this Section 2.19, the LC Issuer shall be deemed, without further action by
any party hereto, to have unconditionally and irrevocably sold to each Lender, and each Lender
shall be deemed, without further action by any party hereto, to have unconditionally and
irrevocably purchased from the
LC Issuer, a participation in such Facility LC (and each Modification thereof) and the related
LC Obligations in proportion to its Pro Rata Share.

 

36

 

(c) Notice. Subject to Section 2.19(a), the Company shall give the LC Issuer notice
prior to 10:00 a.m. (Chicago time) at least five Business Days prior to the proposed date of
issuance or Modification of each Facility LC, specifying the beneficiary, the proposed date of
issuance (or Modification) and the expiry date of such Facility LC, and describing the proposed
terms of such Facility LC and the nature of the transactions proposed to be supported thereby.
Upon receipt of such notice, the LC Issuer shall promptly notify the Agent, and the Agent shall
promptly notify each Lender, of the contents thereof and of the amount of such Lender’s
participation in such proposed Facility LC. The issuance or Modification by the LC Issuer of any
Facility LC shall, in addition to the conditions precedent set forth in Article IV (the
satisfaction of which the LC Issuer shall have no duty to ascertain), be subject to the conditions
precedent that such Facility LC shall be satisfactory to the LC Issuer and that the Company shall
have executed and delivered such application agreement and/or such other instruments and agreements
relating to such Facility LC as the LC Issuer shall have reasonably requested (each, a “Facility LC
Application”). In the event of any conflict between the terms of this Agreement and the terms of
any Facility LC Application, the terms of this Agreement shall control.

(d) LC Fees. The Company shall pay to the Agent, for the account of the Lenders
ratably in accordance with their respective Pro Rata Shares, (i) with respect to each standby
Facility LC, a letter of credit fee at a per annum rate equal to the Applicable Margin in effect
from time to time on the average daily undrawn stated amount under such standby Facility LC, such
fee to be payable in arrears on each Payment Date, and (ii) with respect to each commercial
Facility LC, a one-time letter of credit fee in an amount equal to the reasonable and customary
fees quoted by the LC Issuer from time to time, calculated on the initial stated amount (or, with
respect to a Modification of any such commercial Facility LC which increases the stated amount
thereof, such increase in the stated amount) thereof, such fee to be payable on the date of such
issuance or increase (each such fee described in this sentence an “LC Fee”). The Company shall
also pay to the LC Issuer for its own account (x) at the time of issuance of each standby Facility
LC, a fronting fee in an amount equal to 0.125% of the original face amount of such Facility LC,
and (y) documentary and processing charges in connection with the issuance or Modification of and
draws under Facility LCs in accordance with the LC Issuer’s standard schedule for such charges as
in effect from time to time.

(e) Administration; Reimbursement by Lenders. Upon receipt from the beneficiary of
any Facility LC of any demand for payment under such Facility LC, the LC Issuer shall notify the
Agent and the Agent shall promptly notify the Company and each other Lender as to the amount to be
paid by the LC Issuer as a result of such demand and the proposed payment date (the “LC Payment
Date”). The responsibility of the LC Issuer to the Company and each Lender shall be only to
determine that the documents (including each demand for payment) delivered under each Facility LC
in connection with such presentment shall be in conformity in all material respects with such
Facility LC. The LC Issuer shall endeavor to exercise the same care in the issuance and
administration of the Facility LCs as it does with respect to letters of credit in which no
participations are granted, it being understood that in the absence of any gross negligence or
willful misconduct by the LC Issuer, each Lender shall be unconditionally and irrevocably liable
without regard to the occurrence of any Default or any condition precedent whatsoever, to reimburse
the LC Issuer on demand for (i) such Lender’s Pro Rata Share of the amount of each payment made by
the LC Issuer under each Facility LC to the extent such amount is not reimbursed by the Company
pursuant to Section 2.19(f) below, plus (ii) interest on the foregoing amount to be reimbursed by
such Lender, for each day from the date of the LC Issuer’s demand for such reimbursement (or, if
such demand is made after 11:00 a.m. (Chicago time) on such date, from the next succeeding Business
Day) to the date on which such Lender pays the amount to be reimbursed by it, at a
rate of interest per annum equal to the Federal Funds Effective Rate for the first three days
and, thereafter, at a rate of interest equal to the rate applicable to Floating Rate Advances.

 

37

 

(f) Reimbursement by Company. The Company shall be irrevocably and unconditionally
obligated to reimburse the LC Issuer on or before the applicable LC Payment Date for any amounts to
be paid by the LC Issuer upon any drawing under any Facility LC, without presentment, demand,
protest or other formalities of any kind; provided that neither the Company nor any Lender shall
hereby be precluded from asserting any claim for direct (but not consequential) damages suffered by
the Company or such Lender to the extent, but only to the extent, caused by (i) the willful
misconduct or gross negligence of the LC Issuer in determining whether a request presented under
any Facility LC issued by it complied with the terms of such Facility LC or (ii) the LC Issuer’s
failure to pay under any Facility LC issued by it after the presentation to it of a request
strictly complying with the terms and conditions of such Facility LC. All such amounts paid by the
LC Issuer and remaining unpaid by the Company shall bear interest, payable on demand, for each day
until paid at a rate per annum equal to (x) the rate applicable to Floating Rate Advances for such
day if such day falls on or before the applicable LC Payment Date and (y) the sum of 2% plus the
rate applicable to Floating Rate Advances for such day if such day falls after such LC Payment
Date. The LC Issuer will pay to each Lender ratably in accordance with its Pro Rata Share all
amounts received by it from the Company for application in payment, in whole or in part, of the
Reimbursement Obligation in respect of any Facility LC issued by the LC Issuer, but only to the
extent such Lender has made payment to the LC Issuer in respect of such Facility LC pursuant to
Section 2.19(e). Subject to the terms and conditions of this Agreement (including without
limitation the submission of a Borrowing Notice in compliance with Section 2.3 and the satisfaction
of the applicable conditions precedent set forth in Article IV), the Company may request an Advance
hereunder for the purpose of satisfying any Reimbursement Obligation.

(g) Obligations Absolute. The Company’s obligations under this Section 2.19 shall be
absolute and unconditional under any and all circumstances and irrespective of any setoff,
counterclaim or defense to payment which the Company may have or have had against the LC Issuer,
any Lender or any beneficiary of a Facility LC. The Company further agrees with the LC Issuer and
the Lenders that the LC Issuer and the Lenders shall not be responsible for, and the Company’s
Reimbursement Obligation in respect of any Facility LC shall not be affected by, among other
things, the validity or genuineness of documents or of any endorsements thereon, even if such
documents should in fact prove to be in any or all respects invalid, fraudulent or forged, or any
dispute between or among the Company, any of its Affiliates, the beneficiary of any Facility LC or
any financing institution or other party to whom any Facility LC may be transferred or any claims
or defenses whatsoever of the Company or of any of its Affiliates against the beneficiary of any
Facility LC or any such transferee. The LC Issuer shall not be liable for any error, omission,
interruption or delay in transmission, dispatch or delivery of any message or advice, however
transmitted, in connection with any Facility LC. The Company agrees that any action taken or
omitted by the LC Issuer or any Lender under or in connection with each Facility LC and the related
drafts and documents, if done without gross negligence or willful misconduct, shall be binding upon
the Company and shall not put the LC Issuer or any Lender under any liability to the Company.
Nothing in this Section 2.19(g) is intended to limit the right of the Company to make a claim
against the LC Issuer for damages as contemplated by the proviso to the first sentence of Section
2.19(f).

(h) Actions of LC Issuer. The LC Issuer shall be entitled to rely, and shall be fully
protected in relying, upon any Facility LC, draft, writing, resolution, notice, consent,
certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message,
statement, order or other document reasonably believed by it to be genuine and correct and to have
been signed, sent or made by the proper Person or Persons, and upon advice and statements of legal
counsel, independent accountants and other experts selected by the LC Issuer. The LC Issuer shall
be fully justified in failing or refusing to take any action under this Agreement unless it shall
first have received such advice or concurrence of the Required
Lenders as it reasonably deems appropriate or it shall first be indemnified to its reasonable
satisfaction by the Lenders against any and all liability and expense which may be incurred by it
by reason of taking or continuing to take any such action. Notwithstanding any other provision of
this Section 2.19, the LC Issuer shall in all cases be fully protected in respect of the Lenders in
acting, or in refraining from acting, under this Agreement in accordance with a request of the
Required Lenders, and such request and any action taken or failure to act pursuant thereto shall be
binding upon the Lenders and any future holders of a participation in any Facility LC.

 

38

 

(i) Indemnification. The Company hereby agrees to indemnify and hold harmless each
Lender, the LC Issuer and the Agent, and their respective directors, officers, agents and employees
from and against any and all claims and damages, losses, liabilities, costs or expenses which such
Lender, the LC Issuer or the Agent may incur (or which may be claimed against such Lender, the LC
Issuer or the Agent by any Person whatsoever) by reason of or in connection with the issuance,
execution and delivery or transfer of or payment or failure to pay under any Facility LC or any
actual or proposed use of any Facility LC, including, without limitation, any claims, damages,
losses, liabilities, costs or expenses which the LC Issuer may incur by reason of or in connection
with (i) the failure of any other Lender to fulfill or comply with its obligations to the LC Issuer
hereunder (but nothing herein contained shall affect any rights the Company may have against any
defaulting Lender) or (ii) by reason of or on account of the LC Issuer issuing any Facility LC at
the direction of the Company which specifies that the term “Beneficiary” included therein includes
any successor by operation of law of the named Beneficiary, but which Facility LC does not require
that any drawing by any such successor Beneficiary be accompanied by a copy of a legal document,
satisfactory to the LC Issuer, evidencing the appointment of such successor Beneficiary; provided
that the Company shall not be required to indemnify any Lender, the LC Issuer or the Agent for any
claims, damages, losses, liabilities, costs or expenses to the extent, but only to the extent,
caused by (x) the willful misconduct or gross negligence of the LC Issuer in determining whether a
request presented under any Facility LC complied with the terms of such Facility LC or (y) the LC
Issuer’s failure to pay under any Facility LC after the presentation to it of a request strictly
complying with the terms and conditions of such Facility LC. Nothing in this Section 2.19(i) is
intended to limit the obligations of the Company under any other provision of this Agreement.

(j) Lenders’ Indemnification Each Lender shall, ratably in accordance with its Pro
Rata Share, indemnify the LC Issuer, its affiliates and their respective directors, officers,
agents and employees (to the extent not reimbursed by the Company) against any cost, expense
(including reasonable counsel fees and disbursements), claim, demand, action, loss or liability
(except such as result from such indemnitees’ gross negligence or willful misconduct or the LC
Issuer’s failure to pay under any Facility LC after the presentation to it of a request strictly
complying with the terms and conditions of the Facility LC) that such indemnitees may suffer or
incur in connection with this Section 2.19 or any action taken or omitted by such indemnitees
hereunder.

(k) Facility LC Collateral Account. The Company agrees that it will, upon the request
of the Agent or the Required Lenders and until the final expiration date of any Facility LC and
thereafter as long as any Reimbursement Obligation is payable to the LC Issuer or the Lenders in
respect of any Facility LC, maintain a special collateral account pursuant to arrangements
satisfactory to the Agent (the “Facility LC Collateral Account”) at the Agent’s office at the
address specified pursuant to Article XIII, in the name of such Company but under the sole dominion
and control of the Agent, for the benefit of the Lenders and in which such Company shall have no
interest other than as set forth in Section 8.1. The Company hereby pledges, assigns and grants to
the Agent, on behalf of and for the ratable benefit of the Lenders and the LC Issuer, a security
interest in all of the Company’s right, title and interest in and to all funds which may from time
to time be on deposit in the Facility LC Collateral Account, together with all investments made
therefrom, and all interest or other income or gain arising from such funds, to secure the prompt
and complete payment and performance of the Obligations. The Agent will invest any funds
on deposit from time to time in the Facility LC Collateral Account in certificates of deposit
of JPMCB or other Cash Equivalents acceptable to the Agent having a maturity not exceeding 30 days;
provided that the Agent shall at all times maintain a perfected security interest in such
investments for the ratable benefit of the LC Issuer and the Lenders. Nothing in this Section
2.19(k) shall either obligate the Agent to require the Company to deposit any funds in the Facility
LC Collateral Account or limit the right of the Agent to release any funds held in the Facility LC
Collateral Account in each case other than as required by Section 8.1.

(l) Rights as a Lender. In its capacity as a Lender, the LC Issuer shall have the
same rights and obligations as any other Lender.

 

39

 

2.20 Borrowing Base Adjustments.
The Company agrees that if at any time any trade account receivable of the Company or any
Guarantor fails to constitute Eligible Receivables for any reason, the Agent may, at any time and
notwithstanding any prior classification of eligibility, classify such asset as ineligible and
exclude the same from the computation of the Borrowing Base without in any way impairing the rights
of the Lenders and the Agent in and to the same under the Collateral Documents. The Agent will
promptly notify the Company and each Lender in writing of any reclassification of the eligibility
of any asset pursuant to this Section 2.20.

2.21 Collateral Security; Further Assurances.
To secure the payment when due of the Secured Obligations (subject to the Intercreditor
Agreement), the Company shall execute and deliver, or cause to be executed and delivered, to the
Collateral Agent, Collateral Documents granting or providing for the following:

(a) Security Agreements granting a first priority, enforceable Lien and security interest,
subject to the Liens permitted by this Agreement and subject to the sharing provisions to be
contained in the Intercreditor Agreement, on all present and future accounts, chattel paper,
commercial tort claims, deposit accounts, documents, farm products, fixtures, chattel paper,
equipment, general intangibles, goods, instruments, inventory, investment property,
letter-of-credit rights (as those terms are defined in the Michigan Uniform Commercial Code) and
all other personal property of the Company and of each Subsidiary Guarantor, subject to any
exclusions described in the Intercreditor Agreement or approved by the Required Lenders and it
being understood and agreed that such first priority, enforceable Lien and security interest shall
not include any Lien or security interest in the Qualified Receivables Transaction Assets.
Notwithstanding the foregoing, with respect to Liens granted by the Company or any Subsidiary
Guarantor on the Equity Interests in any Foreign Subsidiary such Lien shall not exceed 65% (or such
greater percentage that, due to a change in an applicable law after the date hereof, (1) could not
reasonably be expected to cause the undistributed earnings of such Foreign Subsidiary as determined
for U.S. federal income tax purposes to be treated as a deemed dividend to such Foreign
Subsidiary’s U.S. parent and (2) could not reasonably be expected to cause any material adverse tax
consequences) of the issued and outstanding Equity Interests entitled to vote (within the meaning
of Treas. Reg. Section 1.956-2(c)(2)) and 100% of the issued and outstanding Equity Interests not
entitled to vote (within the meaning of Treas. Reg. Section 1.956-2(c)(2)) in each Foreign
Subsidiary directly owned by the Company or any Guarantor. Notwithstanding the foregoing, if the
Agent reasonably determines in good faith that the Company will not incur a material tax liability
as result of such greater pledge, the Company shall, upon the request of the Agent, have the
balance of its Equity Interests pledged to the Collateral Agent to secure, subject to the
Intercreditor Agreement, the Secured Obligations.

 

40

 

(b) On or before the Effective Date, the Company shall cause all Collateral Documents as
reasonably requested by the Agent, in each case duly executed on behalf of the Company and the
Subsidiary Guarantors, as the case may be, granting to the Secured Parties and the Collateral Agent
the Collateral and support specified in Section 2.21 hereof, together with: (v) such resolutions,
certificates
and opinions of counsel as reasonably requested by the Agent; (w) the recordation, filing and
other action (including payment of any applicable taxes or fees) in such jurisdictions as the
Lenders or the Agent may deem necessary or appropriate with respect to the Collateral Documents,
including the filing of financing statements and other filings which the Lenders or the Agent may
deem necessary or appropriate to create, preserve or perfect the liens, security interests and
other rights intended to be granted to the Lenders or the Agent thereunder, together with Uniform
Commercial Code record searches and other Lien searches in such offices as the Lenders or the Agent
may request; (x) evidence that the casualty and other insurance required pursuant to the Loan
Documents is in full force and effect; (y) originals of all instruments and certificates
representing all of the outstanding shares of Equity Interests and other securities and instruments
to be pledged thereunder, with appropriate stock powers, endorsements and other powers duly
executed in blank; and (z) such other evidence that Liens creating a first priority security
interest, subject to the Intercreditor Agreement, in the Collateral shall have been created and
perfected as requested by the Agent and the satisfaction of all other conditions in connection with
the Collateral and the Collateral Documents as reasonably requested by the Agent, including without
limitation all opinions of counsel, and other documents and requirements requested by the Agent.

(c) The Company agrees that it will promptly notify the Agent of the formation, acquisition or
existence of any Subsidiary that is a Guarantor (per the definition of Guarantor) that has not
executed a Guaranty and Collateral Documents or the acquisition of any assets on which a Lien is
required to be granted and that is not covered by existing Collateral Documents. The Company
agrees that it will promptly execute and deliver, and cause each Guarantor to execute and deliver,
promptly upon the request of the Agent, such additional Collateral Documents, Guaranties and other
agreements, documents and instruments, each in form and substance satisfactory to the Agent,
sufficient to grant the Guaranties and Liens contemplated by this Agreement and the Collateral
Documents. The Company shall deliver, and cause each Guarantor to deliver, to the Agent all
original instruments payable to it with any endorsements thereto required by the Agent.
Additionally, the Company shall execute and deliver, and cause each Guarantor to execute and
deliver, promptly upon the request of the Agent, such certificates, legal opinions, lien searches,
organizational and other charter documents, resolutions and other documents and agreements as the
Agent may reasonably request in connection therewith. The Company shall use its best efforts to
cause each lessor of real property to it or any Subsidiary where any material Collateral is located
to execute and deliver to the Agent an agreement in form and substance reasonably acceptable to the
Agent duly executed on behalf of such lessor waiving any distraint, lien and similar rights with
respect to any property subject to the Collateral Documents and agreeing to permit the Collateral
Agent to enter such premises in connection therewith. The Company shall execute and deliver, and
cause each Guarantor to execute and deliver, promptly upon the reasonable request of the Agent,
such agreements and instruments evidencing any intercompany loans or other advances among the
Company and its Subsidiaries, or any of them, and all such intercompany loans or other advances
shall be, and are hereby made, subordinate and junior to the Secured Obligations and no payments
may be made on such intercompany loans or other advances upon and during the continuance of a
Default unless otherwise agreed to by the Required Lenders.

 

41

 

ARTICLE III.

CHANGE IN CIRCUMSTANCES, TAXES

3.1 Yield Protection.
If after the date hereof the introduction of, or any change in, any applicable law or any
governmental or quasi-governmental rule, regulation, policy, guideline or directive (whether or not
having the force of law), or in the interpretation or administration thereof, or the compliance of
any Lender or the LC Issuer therewith,

(a) subjects any Lender or any applicable Lending Installation or the LC Issuer to any tax,
duty, charge or withholding on or from payments due from any Borrower or changes the basis of
taxation
of payments to any Lender or the LC Issuer in respect of its Loans, Facility LCs or
participations therein or other amounts due it hereunder (excluding income taxes and franchise
taxes (imposed in lieu of income taxes) imposed on the Agent, the LC Issuer or any Lender as a
result of a present or former connection between the Agent, the LC Issuer or such Lender and the
jurisdiction of the Governmental Authority imposing such tax or any political subdivision or taxing
authority thereof or therein, other than any such connection arising solely from the Agent, the LC
Issuer or such Lender having executed, delivered or performed its obligations or received a payment
under, or enforced, this Agreement or any other Loan Document), or

(b) imposes or increases or deems applicable any reserve, assessment, insurance charge,
special deposit or similar requirement against assets of, deposits with or for the account of, or
credit extended by, any Lender, the LC Issuer or any applicable Lending Installation (other than
reserves, assessments and other charges taken into account in determining the Eurocurrency Rate),
or

(c) imposes any other condition the result of which is to increase the cost to any Lender or
any applicable Lending Installation or the LC Issuer of making, funding or maintaining loans, or of
issuing or participating in Facility LCs, or reduces any amount receivable by any Lender or any
applicable Lending Installation or the LC Issuer in connection with loans, Facility LCs or
participations therein, or requires any Lender or any applicable Lending Installation or the LC
Issuer to make any payment calculated by reference to the amount of loans, Facility LCs or
participations therein, held or interest received by it, by an amount deemed material by such
Lender or the LC Issuer, as the case may be,

then, within 15 days of written demand by the Agent on behalf of such Lender or the LC Issuer,
as the case may be, providing evidence of expenses actually incurred or reductions in amounts to be
received under this Agreement actually suffered, the affected Borrower shall pay such Lender or the
LC Issuer, as the case may be, that portion of such increased expense incurred or reduction in an
amount received which is attributable to making, funding and maintaining its Loans, Facility LCs or
Commitment.

3.2 Changes in Capital Adequacy Regulations.
If the amount of capital required or expected to be maintained by such Lender, any Lending
Installation of such Lender, the LC Issuer or any corporation controlling such Lender or LC Issuer
is increased as a result of a Change, then, within 15 days of written demand by the Agent on behalf
of such Lender or LC Issuer, the Company shall pay such Lender or the LC Issuer the amount
necessary to compensate for any shortfall in the rate of return on the portion of such increased
capital which such Lender or the LC Issuer reasonably determines is attributable to this Agreement,
its Outstanding Credit Exposure or its obligation to make Loans and issue or participate in
Facility LCs, as the case may be, hereunder (after taking into account such Lender’s or the LC
Issuer’s policies as to capital adequacy). “Change” means (a) any change after the date of this
Agreement in the Risk-Based Capital Guidelines or (b) any adoption of or change in any other law,
governmental or quasi-governmental rule, regulation, policy, guideline, interpretation, or
directive (whether or not having the force of law) after the date of this Agreement which affects
the amount of capital required or expected to be maintained by any Lender or the LC Issuer or any
Lending Installation or any corporation controlling any Lender or the LC Issuer. “Risk-Based
Capital Guidelines” means (i) the risk-based capital guidelines in effect in the United States on
the date of this Agreement, including transition rules, and (ii) the corresponding capital
regulations promulgated by regulatory authorities outside the United States implementing the July
1988 report of the Basle Committee on Banking Regulation and Supervisory Practices Entitled
“International Convergence of Capital Measurements and Capital Standards,” including transition
rules, and any amendments to such regulations adopted prior to the date of this Agreement.

 

42

 

3.3 Availability of Types of Advances.
If any Lender reasonably determines that maintenance of its Loans at a suitable Lending
Installation, would violate any applicable law, rule, regulation, or directive, whether or not
having the force of law, the Loans of such Lender that are so affected shall be repaid (a) upon
demand by such Lender if it shall be unlawful for such Lender to maintain the affected Loan until
the end of the Interest Period for the affected Loan, or (b) at the end of the Interest Period for
the affected Loan. If the Required Lenders reasonably determine that (i) deposits of a currency,
type and maturity appropriate to match fund Loans are not available or (ii) the interest rate
applicable to a Loan does not accurately reflect the cost of making or maintaining such Loans, then
the Agent shall suspend the availability of the affected Loan or Loans and require any such Loan or
Loans of the affected type to be repaid at the end of the Interest Period for such Loan or Loans.

3.4 Funding Indemnification.
If any payment of an Advance occurs on a date which is not the last day of the applicable
Interest Period, whether because of acceleration, prepayment or otherwise, or an Advance is not
made on the date specified by a Borrower for any reason other than default by the Lenders, such
Borrower will indemnify each Lender for any loss or cost incurred by it resulting therefrom,
including, without limitation, any loss or cost in liquidating or employing deposits acquired to
fund or maintain the Advance.

3.5 Lender Statements; Survival of Indemnity.
To the extent reasonably possible, each Lender and the LC Issuer shall designate an alternate
Lending Installation with respect to its Loans or Facility LCs or participations therein to reduce
any liability of a Borrower to such Lender or the LC Issuer, as the case may be, under Sections 3.1
and 3.2 or to avoid the unavailability of an Advance under Section 3.3, so long as such designation
is not disadvantageous to such Lender or the LC Issuer in any material respect. Each Lender or the
LC Issuer, as the case may be, shall deliver a written statement of such Lender or the LC Issuer to
the applicable Borrower (with a copy to the Agent) as to the amount due, if any, under Section 3.1,
3.2 or 3.4. Such written statement shall set forth in reasonable detail the calculations upon
which such Lender or the LC Issuer, as the case may be, determined such amount and shall state that
amounts determined in accordance with such procedures are being charged by such Lender or the LC
Issuer to other borrowers with credit facilities similar to this Agreement and credit
characteristics comparable to the Company as determined by such Lender or the LC Issuer, as the
case may be, and shall be final, conclusive and binding on the Borrowers in the absence of manifest
error. Determination of amounts payable under such sections shall be calculated as though each
Lender funded such Loans through the purchase of a deposit of the type and maturity corresponding
to the deposit used as a reference in determining the interest rate applicable to such Loan,
whether in fact that is the case or not. Unless otherwise provided herein, the amount specified in
the written statement of any Lender or the LC Issuer shall be payable on demand after receipt by
the applicable Borrower of such written statement. The obligations of the Borrowers under Sections
3.1, 3.2, 3.4 and 3.6 shall survive payment of the Obligations and termination of this Agreement.
The Borrowers shall have no obligation to compensate any Lender or the LC Issuer with respect to
amounts provided in Sections 3.1, 3.2, 3.4 or 3.6 with respect to any period prior to the date
which is 180 days prior to the date such Lender or the LC Issuer delivers its written statement
hereunder requesting compensation (except such longer period during which solely because of the
retroactive application of such law, rule, regulation, policy, guideline or directive such Lender
did not know in good faith that such amount would arise or accrue).

 

43

 

3.6 Taxes.

(a) All payments of principal and interest made by the Borrowers under this Agreement, any
Facility LC Application and any Note, if any, shall be made free and clear of, and without
deduction or withholding for or on account of, any present or future income, stamp or other taxes,
levies, imposts, duties, charges, fees, deductions or withholdings, now or hereafter imposed,
levied, collected, withheld or assessed by any Governmental Authority, excluding income taxes and
franchise taxes (imposed in lieu of
income taxes) imposed on the Agent, the LC Issuer or any Lender as a result of a present or
former connection between the Agent, the LC Issuer or such Lender and the jurisdiction of the
Governmental Authority imposing such tax or any political subdivision or taxing authority thereof
or therein (other than any such connection arising solely from the Agent, the LC Issuer or such
Lender having executed, delivered or performed its obligations or received a payment under, or
enforced, this Agreement or any other Loan Document). If any such non-excluded taxes, levies,
imposts, duties, charges, fees, deductions or withholdings (“Non-Excluded Taxes”) are
required to be withheld from any amounts payable to the Agent, the LC Issuer or any Lender
hereunder or under any Note, the amounts so payable to the Agent, the LC Issuer or such Lender
shall be increased to the extent necessary to yield to the Agent, the LC Issuer or such Lender
(after payment of all Non-Excluded Taxes) interest or any such other amounts payable hereunder at
the rates and in the amounts specified in this Agreement provided, however, that
(i) with respect to any Loan or Facility LC in U.S. Dollars to the Company, the Company shall not
be required to increase any such amounts payable to any Lender that is not organized under the laws
of the United States of America or a state thereof if such Lender fails to comply with the
requirements of Section 3.6(b), (ii) with respect to any Loan or Facility in any Foreign Currency,
a Borrower shall not be required to increase any such amounts payable to any Lender if such Lender
fails to comply with the requirements of Section 3.6(d) and (iii) with respect to any Loan in any
Foreign Currency, the Foreign Subsidiary Borrower shall not be required to increase any such
amounts payable to any Lender or the Agent to the extent such Lender could avoid the payment of
such amount by changing its Lending Installation, provided that any such change in any Lending
Installation shall not be required if such Lender has reasonable cause not to change its Lending
Installation or such Lender has reasonably determined that it is disadvantageous in any material
respect for it to do so. Whenever any Non-Excluded Taxes are payable by a Borrower, as promptly as
possible thereafter (but in any event within thirty (30) days of payment thereof) such Borrower
shall send to the Agent for its own account or for the account of such Lender, as the case may be,
a certified copy of an original official receipt received by such Borrower showing payment thereof.
If a Borrower fails to pay any Non-Excluded Taxes when due to the appropriate taxing authority or
fails to remit to the Agent the required receipts or other required documentary evidence, such
Borrower shall indemnify the Agent, the LC Issuer and the Lenders for any incremental taxes,
interest or penalties that may become payable by the Agent or any Lender as a result of any such
failure. The agreements in this Section shall survive the termination of this Agreement and the
payment of the Loans and all other amounts payable hereunder.

(b) Each Lender that is not incorporated under the laws of the United States of America or a
state thereof shall:

(i) at least five Business Days before the date of the initial payment to be made by a
Borrower under this Agreement to such Lender, deliver to the Company and the Agent (A) two duly
completed copies of United States Internal Revenue Service Form W-8BEN or W-8ECI, or successor
applicable form, as the case may be, certifying that it is entitled to receive payments under this
Agreement without deduction or withholding of any United States federal income taxes and (B) an
Internal Revenue Service Form W-8 or W-9, or successor applicable form, as the case may be,
certifying that it is entitled to an exemption from United States backup withholding tax;

(ii) deliver to the Company and the Agent two further copies of any such form or certification
at least five Business Days before the date that any such form or certification expires or becomes
obsolete and after the occurrence of any event requiring a change in the most recent form
previously delivered by it to the Agent and the Company;

(iii) obtain such extensions of time for filing and complete such forms or certifications as
may reasonably be requested by the Company or the Agent; and

(iv) file amendments to such forms as and when required.

 

44

 

(c) Each Lender (or Transferee) that is incorporated or organized under the laws of the United
States of America or a State thereof shall provide two properly completed and duly executed copies
of Form W-9, or successor applicable form, at the times specified for delivery of forms under
Section 3.6(b) unless an event (including, without limitation, any change in treaty, law or
regulation) has occurred after the date such Person becomes a Lender hereunder which renders all
such forms inapplicable or which would prevent such Lender from duly completing and delivering any
such form with respect to it and such Lender so advises the Company and the Agent;
provided, however, that the Company may rely upon such forms provided to the Company for
all periods prior to the occurrence of such event. Each Person that shall become a Lender or a
Participant pursuant to Section 13.2 or Section 13.3 shall, upon the effectiveness of the related
transfer, be required to provide all of the forms, certifications and statements required pursuant
to this Section, provided that in the case of such Participant, the obligations of such
Participant pursuant to this Section 3.6(c) shall be determined as if such Participant were a
Lender, except that such Participant shall furnish all such required forms, certifications and
statements to the Lender from which the related participation shall have been purchased.

(d) Each Lender that is not incorporated or organized under the laws of the jurisdiction (i)
in which a Foreign Subsidiary Borrower is incorporated or organized, or (ii) in which such Foreign
Subsidiary Borrower is located, and, in either case, is a Lender to such Foreign Subsidiary
Borrower (whether under the Revolving Credit Commitment or an Alternate Currency Commitment) shall,
upon request by such Foreign Subsidiary Borrower, within a reasonable period of time after such
request, deliver to such Foreign Subsidiary Borrower or the applicable governmental or taxing
authority, as the case may be, any form or certificate required in order that any payment by such
Foreign Subsidiary Borrower under this Agreement or any Notes to such Lender may be made free and
clear of, and without deduction or withholding for or on account of any Non-Excluded Tax (or to
allow any such deduction or withholding to be at a reduced rate) imposed on such payment under the
laws of the jurisdiction under which such Foreign Subsidiary Borrower is incorporated, organized or
located, provided that such Lender is legally entitled to complete, execute and deliver
such form or certificate and such completion, execution or submission would not prejudice the legal
position of such Lender.

(e) Each Lender agrees to use reasonable efforts to avoid or to minimize any amounts which
might otherwise be payable pursuant to this Section 3.6, including, without limitation, the filing
of applicable reports and returns with applicable taxing bodies, provided that such effort
shall not impose on any such Lender any additional costs or legal or regulatory burdens deemed by
such Lender in its reasonable judgment to be material. In the event that any Lender determines
that any event or circumstance that will lead to a claim by it under this Section 3.6 has occurred
or will occur, such Lender will use its best efforts to so notify the Company in writing,
provided that any failure to provide such notice shall in no way impair the rights of any
Lender to demand and receive compensation under this Section 3.6.

(f) If any payment by any Borrower is made to or for the account of any Lender after deduction
for or on account of tax, and additional payments are made by such Borrower then, if any Lender
shall receive or be granted a credit against, refund or remission for such tax, such Lender shall,
to the extent that it can do so without prejudice to the retention of the amount of such credit,
refund or remission, reimburse to such Borrower such amount as such Lender shall, in its absolute
opinion, have concluded to be attributable to the relevant tax or deduction or withholding.
Nothing herein contained shall interfere with the right of any Lender to arrange its affairs in
whatever manner it thinks fit and, in particular, the Lenders shall not be under any obligation to
claim relief from its corporation profits or similar tax liability in respect of such tax in
priority to any other claims, reliefs, credits or deductions
available to it nor oblige any Lenders to disclose any information relating to its tax
affairs. Such reimbursement shall be made as soon as reasonably practical upon such Lender
certifying that the amount of such credit or remission has been received by it.

 

45

 

3.7 Substitution of Lender.
If (a) the obligation of any Lender to make or maintain Loans has been suspended pursuant to
Section 3.3 when not all Lenders’ obligations to do so have been suspended, (b) any Lender has
demanded compensation under Sections 3.1 or 3.2 when all Lenders have not done so, (c) any Lender
is a Defaulting Lender, or (d) any Lender has failed to consent to a proposed amendment, waiver,
discharge or termination which pursuant to the terms of Section 8.2 or any other provision of any
Loan Document which requires the consent of all affected Lenders and with respect to which the
Required Lenders shall have granted their consent, the Company shall have the right, if no Default
then exists, to replace such Lender (a “Replaced Lender”) with one or more other lenders
(collectively, the “Replacement Lender”) acceptable to the Agent, provided that (i) at the
time of any replacement pursuant to this Section 3.7, the Replacement Lender shall enter into one
or more Assignments pursuant to which the Replacement Lender shall acquire the Commitments and
outstanding Advances and other obligations of the Replaced Lender and, in connection therewith,
shall pay to the Replaced Lender in respect thereof an amount equal to the sum of (A) the amount of
principal of, and all accrued interest on, all outstanding Loans of the Replaced Lender, (B) the
amount of all accrued, but theretofore unpaid, fees owing to the Replaced Lender hereunder and (C)
the amount which would be payable by the Borrowers to the Replaced Lender pursuant to Section 3.4,
if any, if the Borrowers prepaid at the time of such replacement all of the Loans of such Replaced
Lender outstanding at such time; provided, that, no Defaulting Lender shall be entitled to
compensation under clause (C) or under Section 3.4 upon any such payment, and (ii) all obligations
of the Borrowers then owing to the Replaced Lender (other than those specifically described in
clause (i) above in respect of which the assignment purchase price has been, or is concurrently
being, paid) shall be paid in full to such Replaced Lender concurrently with such replacement.
Upon the execution of the respective Assignments, the payment of amounts referred to in clauses (i)
and (ii) above and, if so requested by the Replacement Lender, delivery to the Replacement Lender
of the appropriate Note or Notes executed by the Borrowers, the Replacement Lender shall become a
Lender hereunder and the Replaced Lender shall cease to constitute a Lender hereunder. The
provisions of this Agreement (including without limitation Sections 3.4 and 10.7) shall continue to
govern the rights and obligations of a Replaced Lender with respect to any Loans made or any other
actions taken by such lender while it was a Lender. Nothing herein shall release any Defaulting
Lender from any obligation it may have to any Borrower, the Agent or any other Lender.

ARTICLE IV.

CONDITIONS PRECEDENT

4.1 Closing Conditions.
On the date hereof, the Borrowers shall furnish, or shall cause to be furnished, to the Agent,
with sufficient copies for the Lenders, each of the following:

(a) Copies of the articles of incorporation or similar organizational documents of the
Company, together with all amendments thereto, and a certificate of good standing or similar
governmental evidence of corporate existence, all certified by the Secretary, an Assistant
Secretary or another duly authorized representative of the Company.

(b) Copies, certified by the Secretary, an Assistant Secretary or another duly authorized
representative of the Company, of its by-laws and of its Board of Directors’ resolutions (and
resolutions of other bodies, if any are deemed necessary by counsel for any Lender) authorizing the
execution of the Loan Documents.

 

46

 

(c) An incumbency certificate, executed by the Secretary, an Assistant Secretary or another
duly authorized representative of each Borrower, which shall identify by name and title and bear
the signature of the officers of such Borrower authorized to sign the applicable Loan Documents and
to make borrowings hereunder, upon which certificate the Agent and the Lenders shall be entitled to
rely until informed of any change in writing by such Borrower.

(d) A written opinion of the counsel for the Company and the Guarantors, addressed to the
Lenders in substantially the form of Exhibit E hereto.

(e) Copies of all governmental and nongovernmental consents, approvals, authorizations,
declarations, registrations or filings required on the part of any Borrower in connection with the
execution, delivery and performance of the Loan Documents or the transactions contemplated hereby
or thereby or as a condition to the legality, validity or enforceability of the Loan Documents,
certified as true
and correct in full force and effect as of the Effective Date by a duly authorized officer of
the Borrowers, or if none is required, a certificate of such officer to that effect.

(f) Payment of all fees owing by the Borrowers as of the Effective Date.

(g) Copies of the unqualified audited consolidated financial statements of the Company and its
Subsidiaries for the fiscal year ended December 28, 2008, copies of the internally prepared
consolidated financial statements of the Company and its Subsidiaries for the fiscal quarter ended
June 28, 2009, and copies of three year financial projections for the Company and its Subsidiaries,
in each case in form and substance reasonably satisfactory to the Agent.

(h) The presentation of evidence satisfactory to the Agent that the Loan Agreement dated
November 30, 2005, among the Company, certain other borrowers named therein, and the lenders party
thereto and the agent named therein shall have been terminated and all indebtedness, liabilities,
and obligations outstanding thereunder shall have been paid in full or will be paid from the
proceeds of the initial Advance.

(i) The Agent shall have reasonably determined that since August 27, 2009, there is an absence
of any material adverse change or disruption in primary or secondary loan syndication markets,
financial markets or in capital markets generally (whether resulting from events prior to or after
the date of the commitment) that would likely impair syndication of the Loans hereunder.

(j) The Lenders shall have received an amendment and waiver to the Term Loan Documents, an
amendment and waiver to the Yen Loan Documents and all agreements and documents executed in
connection therewith, and all such amendments and waivers and other agreements and documents shall
be executed simultaneously herewith and shall be satisfactory to the Required Lenders.

(k) The Intercreditor Agreement shall be signed by all parties thereto.

(l) All Loan Documents required by the Agent or the Required Lenders shall have been duly
executed by the Company and each applicable Subsidiary, together with any documents, agreements,
instruments, filings and other items related thereto as reasonably required by the Agent or the
Required Lenders to create a valid, attached, perfected, first priority Lien in favor of the
Collateral Agent with respect to the Collateral covered by the Loan Documents.

(m) The Agent shall have received a Borrowing Base Certificate which calculates the Borrowing
Base as of the end of the calendar quarter immediately preceding the Effective Date.

 

47

 

(n) Satisfactory results of all due diligence with respect to the Company and its Subsidiaries
and their assets as required by the Agent.

(o) The Agent shall have received Lien searches in respect of the Company and its Subsidiaries
in form and substance satisfactory to the Agent.

(p) Each of the conditions set forth in Section 4.2 shall have been satisfied.

(q) Such other agreements and documents, and the satisfaction of such other conditions as may
be reasonably required by the Agent.

4.2 Each Advance.
The Lenders shall not be required to make any Credit Extensions or continue or convert any
Loans, unless on the applicable Borrowing Date, both before and after giving effect on a pro forma
basis to the making of such Credit Extension or such continuation or conversion:

(a) There exists no Default or Unmatured Default.

(b) The representations and warranties contained in Article V are true and correct in all
material respects as of such Borrowing Date except to the extent any such representation or
warranty is stated to relate solely to an earlier date, in which case such representation or
warranty shall be true and correct in all material respects on and as of such earlier date.

(c) All legal matters incident to the making or continuation of such Loans shall be
satisfactory to the Agent and its counsel.

Each Borrowing Notice or request for issuance of a Facility LC with respect to each Credit
Extension and each continuation or conversion by a Borrower hereunder shall constitute a
representation and warranty by the Company and such Borrower that the conditions contained in
Sections 4.2(a) and (b) have been satisfied.

ARTICLE V.

REPRESENTATIONS AND WARRANTIES

Each of the Company and the Foreign Subsidiary Borrowers (insofar as the representations and
warranties set forth below relate to such Foreign Subsidiary Borrower) represents and warrants to
the Lenders that:

5.1 Corporate Existence and Standing.
Each of the Company and its Subsidiaries and each Foreign Subsidiary Borrower is a
corporation, partnership, limited liability company or other organization, duly organized and
validly existing under the laws of its jurisdiction of organization and has all requisite
corporate, partnership, company or similar authority to conduct its business as presently
conducted.

5.2 Authorization and Validity.
Each Borrower and each Guarantor has the corporate or other power and authority and legal
right to execute and deliver the Loan Documents and to perform its obligations thereunder. The
execution and delivery by each of the Borrowers and each of the Guarantors of the Loan Documents
and the performance of their obligations thereunder have been duly authorized by proper corporate
proceedings, and the Loan Documents to which they are a party constitute legal, valid and binding
obligations of the Borrowers and the Guarantors enforceable against the Borrowers and the
Guarantors in accordance with their terms, except as enforceability may be limited by bankruptcy,
insolvency or similar laws affecting the enforcement of creditors’ rights generally and by
equitable principles affecting the availability of specific performance and other remedies.

 

48

 

5.3 No Conflict; Government Consent.
Neither the execution and delivery by the Borrowers and the Guarantors of the Loan Documents,
nor the consummation of the transactions therein contemplated, nor compliance with the provisions
thereof will violate any law, rule, regulation, order, writ, judgment, injunction, decree or award
binding on the Company or any of its Subsidiaries or the Company’s or any Subsidiary’s articles of
incorporation, code of regulations or by-laws or the provisions of any indenture, instrument
or agreement to which the Company or any of its Subsidiaries is a party or is subject, or by which
it, or its Property, is bound, or conflict with or constitute a default thereunder, or result in
the creation or imposition of any Lien (other than any Lien permitted by Section 6.13) in, of or on
the Property of the Company or a Subsidiary pursuant to the terms of any such indenture, instrument
or agreement. No order, consent, approval, license, authorization, or validation of, or filing,
recording or registration with, or exemption by, or other action in respect of any governmental or
public body or authority, or any subdivision thereof, is required to authorize, or is required in
connection with the execution, delivery and performance of, or the legality, validity, binding
effect or enforceability of, any of the Loan Documents.

5.4 Financial Statements.
The December 28, 2008 audited consolidated financial statements of the Company and its
Subsidiaries and the June 28, 2009 interim consolidated financial statements of the Company and its
Subsidiaries heretofore delivered to the Lenders were prepared in accordance with generally
accepted accounting principles in effect on the date such statements were prepared and fairly
present the consolidated financial condition and operations of the Company and its Subsidiaries.

5.5 Material Adverse Change.
Since December 28, 2008, there has been no change in the business, Property, prospects,
condition (financial or otherwise) or results of operations of the Company and its Subsidiaries
which could reasonably be expected to have a Material Adverse Effect.

5.6 Taxes.
The Company and its Subsidiaries have filed all United States federal tax returns and all
other material tax returns which are required to be filed by any Governmental Authority and have
paid all taxes shown as due pursuant to said returns or pursuant to any assessment received by the
Company or any of its Subsidiaries by any Governmental Authority, except such taxes, if any, as are
being contested in good faith and as to which adequate reserves have been provided in accordance
with Agreement Accounting Principles and as to which no Lien (other than as permitted by Section
6.13) exists. No tax liens have been filed and no claims are being asserted with respect to any
such taxes, in each case other than as permitted by Section 6.13. The charges, accruals and
reserves on the books of the Company and its Subsidiaries in respect of any taxes or other
governmental charges are adequate.

5.7 Litigation and Contingent Obligations.
Except as set forth on Schedule 5.7 hereto, there is no litigation, arbitration or proceeding
pending or, to the knowledge of any of their executive officers, any governmental investigation or
inquiry pending or any litigation, arbitration, governmental investigation, proceeding or inquiry
threatened against or affecting the Company or any of its Subsidiaries which could reasonably be
expected to have a Material Adverse Effect or which seeks to prevent, enjoin or delay the making of
the Credit Extensions. Other than any liability incident to such litigation, arbitration or
proceedings listed on Schedule 5.7, the Company and its Subsidiaries have no material contingent
obligations not provided for or disclosed in the financial statements referred to in Section 5.4.

5.8 Subsidiaries.
Schedule 5.8 hereto contains an accurate list of all Subsidiaries of the Company as of the
date of this Agreement, setting forth their respective jurisdictions of incorporation or
organization and the
percentage of their respective capital stock owned by the Company or other Subsidiaries. All
of the issued and outstanding shares of capital stock of such Subsidiaries held by the Company have
been duly authorized and issued and are fully paid and non-assessable.

 

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5.9 ERISA.
Each member of the Controlled Group has fulfilled its obligations in all material respects
under the minimum funding standards of ERISA and the Code with respect to each Plan. Each member
of the Controlled Group is in compliance with the applicable provisions of ERISA and the Code with
respect to each Plan except where such non compliance could not reasonably be expected to have a
Material Adverse Effect. Each Plan complies in all material respects with all applicable
requirements of law and regulations, no Reportable Event which has or may result in any material
liability has occurred with respect to any Plan, and no steps have been taken to reorganize or
terminate any Single Employer Plan. No member of the Controlled Group has (i) sought a waiver of
the minimum funding standard under Section 412 of the Code in respect of any Plan, (ii) failed to
make any contribution or payment to any Single Employer Plan or Multiemployer Plan, or made any
amendment to any Plan, which has resulted or could result in the imposition of a Lien or the
posting of a bond or other security under ERISA or the Code or (iii) incurred any material, actual
liability under Title IV of ERISA other than a liability to the PBGC for premiums under Section
4007 of ERISA.

5.10 Accuracy of Information.
No information, exhibit or report furnished by the Company or any of its Subsidiaries in
writing to the Agent or to any Lender in connection with the negotiation of the Loan Documents
contained any material misstatement of fact or omitted to state a material fact or any fact
necessary to make the statements contained therein not misleading in light of the circumstances in
which made, as of the date thereof.

5.11 Regulations T, U and X.
Margin Stock constitutes less than 25% of those assets of the Company and its Subsidiaries
which are subject to any limitation on sale, pledge, or other restriction hereunder and the Company
and its Subsidiaries are in compliance with Section 6.2.

5.12 Compliance With Laws.
The Company and its Subsidiaries have complied with all applicable statutes, rules,
regulations, orders and restrictions of any domestic or foreign government or any instrumentality
or agency thereof, having jurisdiction over the conduct of their respective businesses or the
ownership of their respective Property if failure to comply could reasonably be expected to have a
Material Adverse Effect.

5.13 Plan Assets; Prohibited Transactions.
The Company and its Subsidiaries have not engaged in any prohibited transaction within the
meaning of Section 4.06 of ERISA or Section 4975 of the Code which could result in any material
liability; and neither the execution of this Agreement nor the making of Credit Extensions
(assuming that the Lenders do not fund any of the Credit Extensions with any “plan assets” as
defined in ERISA) hereunder give rise to a non-exempt prohibited transaction within the meaning of
Section 406 of ERISA or Section 4975 of the Code.

5.14 Environmental Matters.
In the ordinary course of its business, the officers of the Company consider the effect of
Environmental Laws on the business of the Company and its Subsidiaries, in the course of which they
identify and evaluate potential risks and liabilities accruing to the Company and its Subsidiaries
due to Environmental Laws. On the basis of this consideration, the Company has reasonably
concluded that Environmental Laws cannot reasonably be expected to have a Material Adverse Effect.
Neither the Company nor any of its Subsidiaries has received any notice to the effect that its
operations are not in material compliance with any of the requirements of applicable Environmental
Laws or are the subject of any federal or state investigation evaluating whether any remedial
action is needed to respond to a release of any toxic or hazardous waste or substance into the
environment, which non-compliance or remedial action could reasonably be expected to have a
Material Adverse Effect.

 

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5.15 Investment Company Act.
No Borrower is an “investment company” or a company “controlled” by an “investment company”,
within the meaning of the Investment Company Act of 1940, as amended.

5.16 Foreign Subsidiary Borrowers.

(a) Each Foreign Subsidiary Borrower is a direct or indirect Wholly-Owned Subsidiary of the
Company (excluding director qualifying shares); and

(b) Each Foreign Subsidiary Borrower will have, upon becoming a party hereto, all right and
authority to enter into this Agreement and each other Loan Document to which it is a party, and to
perform all of its obligations under this and each other Loan Document to which it is a party; all
of the foregoing actions will have been taken prior to any request for Loans by such Borrower, duly
authorized by all necessary action on the part of such Borrower, and when such Foreign Subsidiary
Borrower becomes a party hereto, this Agreement and each other Loan Document to which it is a party
will constitute valid and binding obligations of such Borrower enforceable in accordance with their
respective terms except as such terms may be limited by the application of bankruptcy, moratorium,
insolvency and similar laws affecting the rights of creditors generally and by equitable principles
affecting the availability of specific performance and other remedies.

5.17 Ownership of Properties.
On the Effective Date, the Company and its Subsidiaries will have good title, free of all
Liens (other than as permitted by Section 6.13), to all Property and assets reflected in the
financial statements as owned by it other than defects in title which could not, individually or in
the aggregate, reasonably be expected to have a Material Adverse Effect.

5.18 Reportable Transaction.
Neither any Borrower nor any Subsidiary intends to treat the Advances and related transactions
as being a “reportable transaction” (within the meaning of Treasury Regulation Section 1.6011-4).
In the event any Borrower or any Subsidiary determines to take any action inconsistent with such
intention, it will promptly notify the Agent thereof.

5.19 Term Loans and Yen Loans.
As of the Effective Date, the outstanding principal balances of the Term Loans are 9,000,000
Euros and 4,950,000 Pounds Sterling, and all Term Loan Documents (including the waiver and
amendment and other agreements and documents executed on or about the date hereof) have been
delivered to the Lenders prior to the Effective Date. As of the Effective Date, the
outstanding principal balance of the Yen Loan is 5,451,052,623 Japanese Yen and all Yen Loan
Documents (including the waiver or amendment and other agreements and documents executed on or
about the date hereof) have been delivered to the Lenders prior to the Effective Date. After
giving effect to the waivers and amendments to the Term Loan Documents and the Yen Loan Documents
being delivered pursuant to Section 4.1, there is no event of default or event or condition which
would become an event of default with notice or lapse of time or both, under the Term Loan
Documents or the Yen Loan Documents.

5.20 Borrowing Base.
All trade accounts receivable, of the Company or any Guarantor represented or reported by the
Company to be, or are otherwise included in, Eligible Receivables comply in all respects with the
requirements therefor set forth in the definition thereof, and the computation of the Borrowing
Base set forth in each Borrowing Base Certificate is true and correct.

 

51

 

ARTICLE VI.

COVENANTS

During the term of this Agreement, unless the Required Lenders shall otherwise consent in
writing:

6.1 Financial Reporting.
The Company will maintain, for itself and each Subsidiary, a system of accounting enabling it
to provide consolidated financial statements for the Company and each Subsidiary in accordance with
Agreement Accounting Principles and furnish to the Lenders:

(a) Within 120 days after the close of each of its fiscal years, an unqualified (except for
qualifications relating to changes in accounting principles or practices reflecting changes in
generally accepted accounting principles and required or approved by the Company’s independent
certified public accountants) audit report certified by nationally recognized independent certified
public accountants certifying that the Company’s consolidated financial statements are fairly
stated in all material respects, in accordance with Agreement Accounting Principles for itself and
the Subsidiaries, including balance sheets as of the end of such period, related income statements,
and statements of cash flows.

(b) Within 60 days after the close of the first three quarterly periods of each of its fiscal
years, for itself and the Subsidiaries, consolidated unaudited balance sheets as at the close of
each such period and related income statement and a statement of cash flows for the period from the
beginning of such fiscal year to the end of such quarter, all certified by a Designated Financial
Officer of the Company.

(c) Together with the financial statements required under Sections 6.1(a) and (b), a
compliance certificate in substantially the form of Exhibit F hereto signed by a Designated
Financial Officer of the Company showing the calculations necessary to determine compliance with
this Agreement and stating that no Default or Unmatured Default exists, or if any Default or
Unmatured Default exists, stating the nature and status thereof.

(d) As soon as available and in any event within 15 Business Days days after the end of each
fiscal month for which the Borrowing Base is in effect, a Borrowing Base Certificate, prepared for
the Company as of the close of business on the last day of each fiscal month, and such supporting
schedules requested by the Agent, in form and detail reasonably satisfactory to the Agent, setting
forth such information as the Agent may request with respect to the aging, value, location, and
other information
relating to the computation of the Borrowing Base for the Company and the eligibility of any
property or assets included in such computation, each certified as true and correct by an
Authorized Officer of the Company; provided that, (i) the Company may also elect to deliver updated
Borrowing Base Certificates more frequently, and (ii) the Agent may also request more frequent
Borrowing Base Certificates (including without limitation in connection as a condition to a Credit
Extension under Section 4.2) and the Company shall prepare such updated Borrowing Base Certificate
as of the close of business on the last day of the month ending prior to such request.

(e) As soon as possible and in any event within 5 days after (x) receipt by the Company, and
(y) a determination is made by the Company concerning a Material Adverse Effect with respect
thereto, a copy of (a) any notice or claim to the effect, that the Company or any of its
Subsidiaries is or may be liable to any Person as a result of the release by the Company, any of
its Subsidiaries, or any other Person of any toxic or hazardous waste or substance into the
environment, (b) any notice alleging any violation of any federal, state or local environmental,
health or safety law or regulation by the Company or any of its Subsidiaries, and (c) any notice of
occurrence of any Reportable Event, which, in each case, could reasonably be expected to have a
Material Adverse Effect.

 

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(f) Promptly after the sending or filing thereof, copies of all forms 8K, 10-K and 10-Q which
the Company files with the Securities and Exchange Commission or any successor agency thereof
pertaining to the Company or any of its Subsidiaries as the issuer of securities.

(g) Promptly, such other information respecting the business, properties, operations or
condition, financial or otherwise, of the Company or any of their respective Subsidiaries as any
Lender or the Agent may from time to time reasonably request.

6.2 Use of Proceeds.
The Company will, and will cause each Subsidiary to, use the proceeds of all Credit
Extensions, to refinance existing Indebtedness, for working capital or general corporate purposes.
None of the proceeds of any of the Advances made under this Agreement will be used, whether
directly or indirectly, in violation of any applicable law or regulation, including without
limitation Regulations T, U or X, or to purchase or carry any Margin Stock.

6.3 Notice of Default.
The Company will give prompt notice in writing to the Agent of the occurrence of any Default
or Unmatured Default known to it or which in the exercise of reasonable and customary diligence it
should have known.

6.4 Conduct of Business.
The Company will, and will cause each Subsidiary to do all things necessary to remain duly
incorporated, validly existing and in good standing in its jurisdiction of organization (subject to
Section 6.11) and maintain all requisite authority to conduct its business in each jurisdiction in
which its business is conducted, except in any such case where such failure could not reasonably be
expected to have a Material Adverse Effect.

6.5 Taxes.
The Company will, and will cause each Subsidiary to, timely file complete and correct United
States federal and applicable foreign, state and local tax returns required by law and pay when due
all taxes, assessments and governmental charges and levies upon it or its income, profits or
Property, except those which are being contested in good faith by appropriate proceedings and with
respect to which adequate reserves have been set aside in accordance with Agreement Accounting
Principles and those which the failure to file or pay could not reasonably be expected to have a
Material Adverse Effect.

6.6 Insurance.
The Company will, and will cause each Subsidiary to, maintain insurance with financially sound
and reputable insurance companies (or self-insurance programs) on their Property in such amounts
(with such customary deductibles, exclusions and self-insurance) and covering such risks as
management of the Company reasonably considers consistent with sound business practice.

6.7 Compliance with Laws.
The Company will, and will cause each Subsidiary to, comply with all laws, rules, regulations,
orders, writs, judgments, injunctions, decrees or awards to which it may be subject except for such
noncompliance as could not reasonably be expected to have a Material Adverse Effect.

6.8 Maintenance of Properties.
The Company will, and will cause each Subsidiary to, do all things reasonably necessary to
maintain, preserve, protect and keep its material Property in good repair, working order and
condition (ordinary wear and tear excepted), and make all reasonably necessary and proper repairs,
renewals and replacements.

 

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6.9 Inspection.
The Company will, and will cause each Subsidiary to, permit the Agent and upon the occurrence
of a Default and during the continuation thereof the Lenders, directly or by their respective
representatives and agents, to inspect any of the Property, corporate books and financial records
of the Company and each Subsidiary, to examine and make copies of the books of accounts and other
financial records of the Company and each Subsidiary, and to discuss the affairs, finances and
accounts of the Company and each Subsidiary with, and to be advised as to the same by, their
respective officers upon reasonable prior notice at such reasonable times and intervals as the
Agent or any Lender, as the case may be, may designate, which times and intervals shall be
reasonably acceptable to the Company; provided, however, that such examination shall exclude
examination or disclosure of “personal data” within the meaning of the European Union Data
Protection Directive (the “EU Directive”) if such disclosure or examination would cause the Company
or any Subsidiary of the Company to be in violation of the EU Directive or US-EU Safe Harbor Data
Privacy Arrangements issued pursuant to the EU Directive.

6.10 Merger.
The Company will not, nor will it permit any Subsidiary to, merge or consolidate with or into
any other Person, except that, a Subsidiary may merge into the Company or a Wholly-Owned
Subsidiary, provided that in any merger involving the Company the Company is the surviving entity
and in any merger involving any Guarantor such Guarantor or another Guarantor or the Company is the
surviving entity.

6.11 Sale of Assets.
The Company will not, nor will it permit any Subsidiary to, lease, sell or otherwise dispose
of its Property, to any other Person, (other than the Company or any Guarantor), except:

(a) leases, sales or other dispositions to majority-owned or controlled Subsidiaries subject
to the terms of Section 6.14.

(b) any transfer of an interest in Qualified Receivables Transaction Assets as part of a
Qualified Receivables Transaction.

(c) leases, sales (including sale leasebacks) or other dispositions of its Property in
addition to those described in clauses (a) and (b) above so long as the aggregate value of assets
leased, sold or disposed of since the Effective Date does not exceed 15% of the Total Assets of the
Company and its Subsidiaries at the time of such transaction.

(d) sales or dispositions of worn out or obsolete equipment and other fixed assets.

(e) exchanges of real property for other real property of substantially similar value on fair
and reasonable terms applicable to an arm’s length transaction.

Notwithstanding anything in this Section 6.11 to the contrary, no such leases, sales or other
dispositions of property may be made if any Default has occurred and is continuing.

6.12 Indebtedness.
The Company will not, nor will it permit any Subsidiary to, create, incur or suffer to exist
any Indebtedness, except:

(a) The Credit Extensions and the Reimbursement Obligations.

(b) The Term Loan Debt and the Yen Loan Debt, not exceeding in principal amount the respective
outstanding principal amount on the Effective Date, including any extension, refinancing or renewal
of such Indebtedness; provided, that, (i) the principal amount of such Indebtedness is not
increased, (ii) such extension, refinancing or renewal does not result in a shortening of the
average weighted maturity of the Indebtedness so extended, refinanced or renewed, and (iii) the
terms of any such extension, refinancing, or renewal are not less favorable to the obligor
thereunder than the original terms of such Indebtedness.

 

54

 

(c) Indebtedness existing on the date hereof and described in Schedule 6.12, together with any
extensions, renewals or refinancings of such Indebtedness which do not increase the aggregate
commitment amount thereof.

(d) Indebtedness arising under Rate Management Transactions related to the Credit Extensions.

(e) Indebtedness arising under Capitalized Lease Obligations or other purchase money
obligations incurred solely for the purpose of financing the acquisition of real or personal
property, provided that (x) the principal amount of such Indebtedness shall not exceed the cost of
the real or personal property purchased, and (y) the aggregate outstanding principal amount of all
such Indebtedness shall not exceed $5,000,000 at any time.

(f) Indebtedness of any Subsidiary owing to any other Subsidiary or the Company and permitted
by Section 6.17.

(g) Receivables Transaction Attributed Indebtedness under Qualified Receivables Transactions
in an aggregate amount not to exceed $100,000,000 at any time. 

(h) Other Indebtedness (excluding Receivables Transaction Attributed Indebtedness) not
exceeding $20,000,000 in aggregate principal amount at any time outstanding.

6.13 Liens.
The Company will not, nor will it permit any Subsidiary to, create, incur, or suffer to exist
any Lien in, of or on the Property of the Company or any of its Subsidiaries, except:

(a) Liens in favor of the Collateral Agent securing the Secured Obligations and subject to the
Intercreditor Agreement;

(b) Liens for taxes, assessments or governmental charges or levies on its Property if the same
shall not at the time be delinquent or thereafter can be paid without penalty, or are being
contested in good faith and by appropriate proceedings and for which adequate reserves in
accordance with Agreement Accounting Principles shall have been set aside on its books.

(c) Liens imposed by law, such as carriers’, warehousemen’s, landlord’s and mechanics’ liens
and other similar liens arising in the ordinary course of business which secure payment of
obligations not more than 90 days past due or which are being contested in good faith by
appropriate proceedings and for which adequate reserves shall have been set aside on its books.

(d) Liens arising out of pledges or deposits under worker’s compensation laws, unemployment
insurance, old age pensions, or other social security or retirement benefits, or similar
legislation or other statutory or government obligations, including liens on assets of any Foreign
Subsidiary given to secure any letter of credit or bank guaranty given as security or support for
the obligations described in this clause (d).

(e) Utility easements, building restrictions and such other encumbrances or charges against
real property as are of a nature generally existing with respect to properties of a similar
character and which do not in any material way affect the marketability of the same or interfere
with the use thereof in the business of the Company or the Subsidiaries.

(f) Liens granted by any Subsidiary in favor of the Company or any other Subsidiary.

 

55

 

(g) Any interest or title of a lessor in the property subject to any Capitalized Lease
Obligation or Operating Lease.

(h) Any Lien created to secure payment of a portion of the purchase price of, or existing at
the time of acquisition of, any tangible fixed asset acquired by the Company or any of its
Subsidiaries may be created or suffered to exist upon such fixed asset if the outstanding principal
amount of the Indebtedness secured by such Lien does not at any time exceed the purchase price paid
by the Company or such Subsidiary for such fixed asset and is permitted pursuant to Section
6.12(e); provided that such Lien does not encumber any other asset at any time owned by the
Company or such Subsidiary, and provided, further, that not more than one such Lien
shall encumber such fixed asset at any one time.

(i) Judgment or other similar Liens arising in connection with legal proceedings so long as
the execution or other enforcement thereof is effectively stayed and the claims secured thereby are
being contested in good faith by appropriate proceedings and the Company or such Subsidiary, as the
case may be, has established appropriate reserves against such claims in accordance with Agreement
Accounting Principles.

(j) Liens on assets of any Foreign Subsidiary securing Indebtedness of any Foreign Subsidiary
not exceeding the U.S Dollar Equivalent of $10,000,000 in aggregate principal amount at any time
outstanding and if such Indebtedness is permitted pursuant to Section 6.12(h).

(k) Any Lien on any property or asset of the Company or any Subsidiary existing on the date
hereof and set forth in Schedule 6.13; provided that (i) such Lien shall not apply
to any other property or asset of the Company or Subsidiary and (ii) such Lien shall secure only
those obligations which it secures on the date hereof and extensions, renewals and replacements
thereof that do not increase the outstanding principal amount thereof.

Notwithstanding anything in Section 6.12 or 6.13 hereof, no Liens (other than in favor of the
Collateral Agent to secure the Secured Obligations) will permitted or suffered to exist on any
Equity Interests of any Securitization Entity without the written consent of the Agent and no
Indebtedness of, nor any Liens on any assets of, any Securitization Entity will be permitted or
suffered to exist other than customary Indebtedness and Liens required under a Qualified
Receivables Transaction.

6.14 Affiliates.
The Company will not, and will not permit any Subsidiary to, enter into any transaction
(including, without limitation, the purchase or sale of any Property or service) with, or make any
payment or transfer to, any Affiliate except in the ordinary course of business and pursuant to the
reasonable requirements of the Company’s or such Subsidiary’s business and upon fair and reasonable
terms (taken as a whole) no less favorable to the Company or such Subsidiary than the Company or
such Subsidiary would obtain in a comparable arms-length transaction.

6.15 Financial Contracts.
The Company will not, nor will it permit any Subsidiary to, enter into any Financial Contract
for speculative purposes.

6.16 Restricted Payments.
The Company will not, nor will it permit any Subsidiary to, declare or make, or agree to pay
or make, directly or indirectly, any Restricted Payment, or incur any obligation (contingent or
otherwise) to do so, except (i) the Borrower may declare and pay dividends with respect to its
common stock payable solely in additional shares of its common stock, and, with respect to its
preferred stock, payable solely in additional shares of such preferred stock or in shares of its
common stock, and (ii) Subsidiaries may declare and pay dividends or other distributions to the
Company or to another Subsidiary, (iii) if the Interest Coverage Ratio is greater than 3.0 to 1.0
(but less than 5.0 to 1.0) as calculated for the most recent four consecutive fiscal quarters as of
the date of determination, the Company may make Restricted Payments not exceeding $20,000,000
during the period including the most recent three prior consecutive fiscal quarters and the current
fiscal quarter, and (iv) if the Interest Coverage Ratio is greater than 5.0 to 1.0 as calculated
for the most recent four consecutive fiscal quarters as of the date of determination, the Company
may make Restricted Payments not exceeding $30,000,000 during the period including the most recent
three prior consecutive fiscal quarters and the current fiscal quarter.

 

56

 

6.17 Investments and Acquisitions.
The Company will not, nor will it permit any Subsidiary to, make or suffer to exist any
Investments (including without limitation, loans and advances to, and other Investments in,
Subsidiaries), or commitments therefor, or to become or remain a partner in any partnership or
joint venture, or to make any Acquisition of any Person, except:

(a) Cash Equivalent Investments.

(b) Investments in any Subsidiary Guarantor.

(c) Existing Investments in Subsidiaries and other Investments existing on the date hereof and
described in Schedule 6.17(c), without any increase to such Investments due to the Company or any
Subsidiary making any additional Investments unless otherwise permitted hereby.

(d) Mergers or consolidations permitted pursuant to the terms of Section 6.10.

(e) Investments in Tradicao Planejamento e Tecnologia de Servicos S/A in an aggregate amount
not to exceed 32,500,000 Brazilian Real during the term of this Agreement.

(f) Investments by any Foreign Subsidiary in any other Foreign Subsidiary.

(g) (i) loans made by the Company to any Subsidiary and made by any Subsidiary to the Company
or any other Subsidiary, provided, that, any such loans made by the Company or any Guarantor shall
be evidenced by a promissory note pledged pursuant to the Security Agreement, and; (ii) Investments
in Equity Interests in Foreign Subsidiaries (in addition to those Investments listed on Schedule
6.17(c) and those permitted pursuant to clause (e) and (f) above);

provided, that, (A) the sum of the amount of loans made by the Company or any
Guarantor to any Foreign Subsidiary at any time outstanding pursuant to clause (i) above (without
regard to any write-downs or write-offs), plus the aggregate amount of Investments in Equity
Interests in Foreign Subsidiaries pursuant to clause (ii) above shall not exceed $50,000,000, and
(B) the aggregate amount of Investments in Equity Interests in Foreign Subsidiaries pursuant to
clause (ii) above shall not exceed $20,000,000.

(h) Investments in a Securitization Entity in connection with Qualified Receivables
Transactions and in an aggregate outstanding amount reasonably acceptable to the Agent and required
to consummate the Qualified Receivables Transactions plus Qualified Receivables Transaction Assets
permitted to be transferred to a Securitization Entity in connection with Qualified Receivables
Transactions in amounts reasonably acceptable to the Agent.

(i) Permitted Acquisitions.

Notwithstanding anything herein to the contrary, all such loans and other Investments
permitted under this Section 6.17 shall (x) be evidenced by agreements and instruments in form and
substance reasonably acceptable to the Agent (all pursuant to agreements and documents in form and
substance acceptable to the Agent) and (y) not be permitted if a Default or Unmatured Default
exists at time such loans or other Investments are to be made or would be caused thereby.

 

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6.18 Additional Covenants.
This covenant governs any instrument or agreement, or any group of related instruments or
agreements, relating to or amending any terms or conditions applicable to any Indebtedness equal to
or greater than $5,000,000 of the Company or any of its Subsidiaries (each a “Debt Instrument”),
whether such Debt Instrument is now existing or subsequently entered into by the Company or any of
its Subsidiaries . The Company shall promptly deliver to the Agent a copy of each Debt Instrument.
If any Debt Instrument contains any covenant, term or condition or default not substantially
provided for in this Agreement or more favorable to the lender or lenders thereunder than those
provided for in this Agreement (each a “More Favorable Provision”), such More Favorable Provision
shall be incorporated by reference in this Agreement as if set forth fully herein (a) as of the
date of this Agreement if such Debt Instrument is now existing, or (b) as of the effective date of
the Debt Instrument if the Borrower subsequently enters into such Debt Instrument. No amendment,
other modification, termination or expiration of any More Favorable Provision shall alter or
otherwise affect such provision as incorporated herein, except that any modification which makes
such provision become more favorable to the applicable lender shall be incorporated herein in
addition to (and not in lieu of) the provisions which it replaces. Additionally, all covenants
contained in the Yen Loan Agreement, if more restrictive or otherwise more favorable to the Yen
Loan Lender than the covenants in this Agreement as determined by the Required Lenders, are hereby
incorporated by reference in this Agreement as if set forth fully herein, mutatis mutandis, and no
amendment or other modification thereof or the termination or expiration thereof shall alter or
otherwise effect such covenants as incorporated herein.

6.19 Financial Covenants.

(a) Leverage Ratio. The Company shall not permit its Leverage Ratio to exceed 0.4 to
1.0 at any time.

(b) Interest Coverage Ratio. The Company shall not permit its Interest Coverage Ratio
as of the last day of each fiscal quarter to be less than (i) as of the fiscal quarter ending
September 30, 2010, 1.50 to 1.0; (ii) as of the fiscal quarter ending December 31, 2010, 3.0 to
1.0; (iii) as of the fiscal quarter ending March 31, 2011 and thereafter, 3.50 to 1.0. The
Interest Coverage Ratio shall not be tested for the fiscal quarters ending between the Effective
Date through and including June 30, 2010.

(c) Minimum EBITDA. At any time that any Loan or any Facility LC is outstanding
hereunder and as a condition to requesting any Loan or any Facility LC hereunder, the Company shall
have EBITDA of not less than (i) negative $30,000,000 as of September 30, 2009, (ii) negative
$30,000,000 as of December 31, 2009, (iii) negative $20,000,000 as of March 31, 2010, and (iv)
negative $7,500,000 as of June 30, 2010, in each case calculated as of last day of each fiscal
quarter for the four consecutive fiscal quarters then ending. For clarification, with respect to
any calculation of this covenant mid-fiscal quarter as a condition to requesting a Loan or Facility
LC, such covenant shall be calculated as of the then most recently ended fiscal quarter for which
financial statements were required to be delivered under Section 6.1 for such fiscal quarter and
the preceding three consecutive fiscal quarters.

ARTICLE VII.

DEFAULTS

The occurrence of any one or more of the following events shall constitute a Default:

7.1 Any representation or warranty made by the Company or its Subsidiaries to the Lenders or
the Agent in any Loan Document, in connection with any Credit Extension, or in any certificate or
information delivered in writing in connection with any Loan Document shall be false in any
material respect on the date as of which made and shall not be remedied within three Business Days
after written notice from the Agent.

 

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7.2 Nonpayment of principal of any Loan when due, nonpayment of any Reimbursement Obligation
within one Business Day after the same becomes due, or nonpayment of interest on any Loan or of any
facility fee, LC Fee or any other payment obligations under any of the Loan Documents within three
Business Days after the same becomes due (unless such Loan has been rolled over as provided in this
Agreement).

7.3 The breach by any Borrower or any Guarantor of any of the terms or provisions of Sections
6.2, 6.3, 6.4, 6.5, 6.10, 6.11, 6.12, 6.13, 6.14, 6.15, 6.16, 6.17, 6.18 or 6.19 which is not
remedied within three Business Days after written notice from the Agent.

7.4 The breach by any Borrower or any Guarantor (other than a breach which constitutes a
Default under Section 7.1, 7.2 or 7.3) of any of the terms or provisions of this Agreement or any
other Loan Document which is not remedied within 15 days after written notice from the Agent.

7.5 Failure of the Company or any of its Subsidiaries to pay when due any Indebtedness or Rate
Management Obligations (valued by reference to the amount of the Net Mark-to-Market Exposure)
aggregating in excess of $15,000,000 (“Material Indebtedness”); or the default by the Company or
any of its Subsidiaries in the performance of any term, provision or condition contained in any
agreement under which any such Material Indebtedness was created or is governed, or any other event
shall occur or condition exist, the effect of which in the case of any such default or event is to
cause, or to permit the holder or holders of such Material Indebtedness to cause, such Material
Indebtedness to become due prior to its stated maturity; or any Material Indebtedness of the
Company or any of its Subsidiaries shall be declared to be due and payable or required to be
prepaid or repurchased (other than by a regularly scheduled payment) prior to the stated maturity
thereof; or the Company or any of its Subsidiaries shall not pay, or admit in writing its inability
to pay, its debts generally as they become due.

7.6 The Company or any of its Subsidiaries, shall (i) have an order for relief entered with
respect to it under any existing or future law of any jurisdiction, domestic or foreign, relating
to bankruptcy, insolvency, reorganization or relief of debtors, (ii) make an assignment for the
benefit of creditors, (iii) apply for, seek, consent to, or acquiesce in, the appointment of a
receiver, custodian, trustee, examiner, liquidator or similar official for it or any Substantial
Portion of its Property, (iv) institute any proceeding seeking an order for relief under any
existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy,
insolvency, reorganization or relief of debtors, seeking to adjudicate it a bankrupt or insolvent
entity, or seeking dissolution, winding up, liquidation, reorganization, arrangement, adjustment or
composition of it or its debts or seeking similar relief under any law of any jurisdiction,
domestic or foreign, relating to bankruptcy, insolvency or reorganization or relief of debtors or
similar proceeding or fail to file an answer or other pleading denying the material allegations of
any such proceeding filed against it, (v) take any corporate action to authorize or effect any of
the foregoing actions set forth in this Section 7.6 or (vi) fail to contest in good faith any
appointment or proceeding described in Section 7.7.

7.7 Without its application, approval or consent, a receiver, trustee, examiner, liquidator or
similar official shall be appointed for the Company or any of its Subsidiaries or any Substantial
Portion of their respective Property, or a proceeding described in Section 7.6(iv) shall be
instituted against the Company or any of its Subsidiaries and such appointment continues
undischarged or such proceeding continues undismissed or unstayed for a period of 60 consecutive
days.

 

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7.8 Any court, government or governmental agency shall without appropriate compensation
condemn, seize or otherwise appropriate, or take custody or control of (each a “Condemnation”), all
or any portion of the Property of the Company or any of its Subsidiaries which, when taken together
with all other Property of the Company and its Subsidiaries so condemned, seized, appropriated, or
taken custody
or control of, during the twelve-month period ending with the month in which any such
Condemnation occurs, constitutes a Substantial Portion and could reasonably be expected to have a
Material Adverse Effect.

7.9 The Company or any of its Subsidiaries shall fail within 90 days to pay, bond or otherwise
discharge any judgment or order for the payment of money in excess of $15,000,000, which is not
stayed on appeal.

7.10 Any member of the Controlled Group shall fail to pay when due after the expiration of any
applicable grace period an amount or amounts aggregating in excess of $1,000,000 which it shall
have become liable to pay under Title IV of ERISA; or notice of intent to terminate a Single
Employer Plan with Unfunded Liabilities in excess of $1,000,000 (a “Material Plan”) shall be filed
under Section 4041(c) of ERISA by any member of the Controlled Group, any plan administrator or any
combination of the foregoing; or PBGC shall institute proceedings under which it is likely to
prevail under Title IV of ERISA to terminate, to impose liability (other than for premiums under
Section 4007 of ERISA) in respect of, or to cause a trustee to be appointed to administer any
Material Plan; or a condition shall exist by reason of which the PBGC would be entitled to obtain a
decree adjudicating that any Material Plan must be terminated; or there shall occur a complete or
partial withdrawal from, or a default, within the meaning of Section 4219(c)(5) of ERISA, with
respect to, one or more Multiemployer Plans which causes one or more members of the Controlled
Group to incur a current payment obligation in excess of $1,000,000.

7.11 The occurrence of any Change in Control.

7.12 Any Guaranty shall fail to remain in full force or effect or any action shall be taken to
discontinue or assert the invalidity or unenforceability of any Guaranty or any Guarantor denies
that it has any further liability under any Guaranty to which it is a party, or gives notice to
such effect.

7.13 Any Collateral Document shall for any reason (other than solely as the result of an act
or omission of the Agent or a Lender) fail to create a valid and perfected first priority security
interest, subject to the Intercreditor Agreement, in any Collateral purported to be covered
thereby, except as permitted by the terms of this Agreement or any Collateral Document, or, due to
any action by the Company or any of its Subsidiaries not consented to by the Required Lenders, any
Collateral Document shall fail to remain in full force or effect or any action shall be taken by
the Company or any of its Subsidiaries not consented to by the Required Lenders to discontinue or
to assert the invalidity or unenforceability of any Collateral Document, or the Company or any
Guarantor shall fail to comply with any of the terms or provisions of any Collateral Document if
the failure continues beyond any period of grace provided for in the applicable Collateral
Document.

 

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ARTICLE VIII.

ACCELERATION, WAIVERS, AMENDMENTS AND REMEDIES

8.1 Acceleration; Facility LC Collateral Account.

(a) If any Default described in Section 7.6 or 7.7 occurs, the obligations of the Lenders to
make Loans hereunder and the obligation and power of the LC Issuer to issue Facility LCs shall
automatically terminate and the Obligations shall immediately become due and payable without
presentment, demand, protest or notice of any kind, all of which the Borrowers hereby expressly
waive and without any election or action on the part of the Agent, the LC Issuer or any Lender and
the Company will be and become thereby unconditionally obligated, without any further notice, act
or demand, to pay to the Agent an amount in immediately available funds, which funds shall be held
in the Facility LC
Collateral Account, equal to the difference of (x) the amount of LC Obligations at such time,
less (y) the amount on deposit in the Facility LC Collateral Account at such time which is free and
clear of all rights and claims of third parties and has not been applied against the Obligations
(such difference, the “Collateral Shortfall Amount”)

(b) If any Default occurs and is continuing (other than a Default described in Section 7.6 or
7.7), the Required Lenders may (a) terminate or suspend the obligations of the Lenders to make
Loans and the obligation and power of the LC Issuer to issue Facility LCs, or declare the
Obligations to be due and payable, or both, whereupon (if so declared) the Obligations shall become
immediately due and payable, without presentment, demand, protest or notice of any kind, all of
which the Borrowers hereby expressly waive, and (b) upon notice to the Company and in addition to
the continuing right to demand payment of all amounts payable under this Agreement, make demand on
the Company to pay, and the Company will, forthwith upon such demand and without any further notice
or act, pay to the Agent the Collateral Shortfall Amount, which funds shall be deposited in the
Facility LC Collateral Account.

(i) If at any time while any Default is continuing, the Agent determines that the Collateral
Shortfall Amount at such time is greater than zero, the Agent may make demand on the Company to
pay, and the Company will, forthwith upon such demand and without any further notice or act, pay to
the Agent the Collateral Shortfall Amount, which funds shall be deposited in the Facility LC
Collateral Account.

(ii) The Agent may at any time or from time to time after funds are deposited in the Facility
LC Collateral Account, apply such funds to the payment of the Obligations owing under this
Agreement and any other amounts as shall from time to time have become due and payable by the
Company to the Lenders or the LC Issuer under the Loan Documents.

(iii) At any time while any Default is continuing, neither the Company nor any Person claiming
on behalf of or through the Company shall have any right to withdraw any of the funds held in the
Facility LC Collateral Account. After all of the Obligations owing under this Agreement have been
indefeasibly paid in full and the Aggregate Commitment has been terminated, any funds remaining in
the Facility LC Collateral Account shall be returned by the Agent to the Company or paid to
whomever may be legally entitled thereto at such time.

(iv) After acceleration of the maturity of the Obligations or termination of the obligations
of the Lenders to make Loans and the obligation and power of the LC Issuer to issue Facility LCs
hereunder as a result of any Default (other than any Default as described in Section 7.6 or 7.7
with respect to any Borrower) and before any judgment or decree for the payment of the Obligations
due shall have been obtained or entered, the Required Lenders (in their sole discretion) may direct
the Agent and upon such direction the Agent shall, by notice to the Company, rescind and annul such
acceleration and/or termination.

 

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8.2 Amendments.

(a) Subject to the provisions of this Article VIII, the Required Lenders (or the Agent with
the consent in writing of the Required Lenders) and the Borrowers may enter into agreements
supplemental hereto for the purpose of adding or modifying any provisions to the Loan Documents or
changing in any manner the rights of the Lenders or the Borrowers hereunder or waiving any Default
hereunder; provided however, that no such supplemental agreement shall, without the
consent of all of the Lenders:

(i) Extend the final maturity of any Loan, or extend the expiry date of any Facility LC to a
date after the Facility Termination Date or postpone any regularly scheduled payment of principal
of any Loan or forgive all or any portion of the principal amount thereof or any Reimbursement
Obligation related thereto, or reduce the rate or extend the time of payment of interest or fees
thereon or Reimbursement Obligation related thereto.

(ii) Modify the definition of Required Lenders.

(iii) Extend the Facility Termination Date, or reduce the amount or extend the payment date
for, the mandatory payments required under Section 2.7, or increase the amount of any Commitment of
any Lender hereunder or the Aggregate Revolving Credit Commitments or the Aggregate Commitments
(other than any increase in accordance with Section 2.1(d) or 2.1(g)), or permit any Borrower to
assign its rights under this Agreement.

(iv) Amend this Section 8.2(a).

(v) Release any Borrower or any Guarantor or release all or any material portion of the
Collateral, other than in connection with any sale or other transfer of any of the foregoing
permitted hereunder (including without limitation the release of any Securitization Entity which is
a Guarantor from its obligations under this Agreement simultaneously with the closing of any
Qualified Receivables Transaction to which any such Securitization Entity is a party).

(vi) Change Section 2.11 in a manner that would alter the pro rata sharing of payments
required thereby.

(b) In addition to amendments effected pursuant to the foregoing, the Schedules may be amended
as follows:

(i) Schedule 1.1(b) will be amended to add Subsidiaries of the Company as additional Foreign
Subsidiary Borrowers upon (A) execution and delivery by the Company, any such Foreign Subsidiary
Borrower and the Agent, of a Joinder Agreement providing for any such Subsidiary to become a
Foreign Subsidiary Borrower, (B) delivery to the Agent of (a) such other documents with respect
thereto as the Agent shall reasonably request and (b) the written approval of the Agent in its sole
discretion.

(ii) Schedule 1.1(b) will be amended to remove any Subsidiary as a Foreign Subsidiary Borrower
upon (A) written notice by the Company to the Agent to such effect and (B) repayment in full of all
outstanding Loans of such Foreign Subsidiary Borrower.

(iii) Schedule 2.16 may be amended, modified, supplemented or replaced from time to time with
the consent of the Swing Line Lender and the Company.

(c) No modification or waiver of any provision of this Agreement relating to the Agent shall
be effective without the written consent of the Agent, no amendment of any provision relating to
the Swing Line Lender shall be effective without the written consent of the Swing Line Lender and
no amendment of any provision relating to the LC Issuer shall be effective without the written
consent of the LC Issuer. The Agent may waive payment of the fee required under Section 13.3(b)
without obtaining the consent of any other party to this Agreement. Notwithstanding anything
herein to the contrary, any Defaulting Lender shall not be entitled to vote (whether to consent or
to withhold its consent) with respect to any amendment, modification, termination or waiver other
than with respect to any increase in the amount of such Defaulting Lender’s Commitment and any
forgiveness of any principal amount of any Loan or any Reimbursement Obligation due such Defaulting
Lender, and, for purposes of determining the Required Lenders, the Commitments and the Loans of
such Defaulting Lender shall be disregarded and
the Agent shall have the ability, but not the obligation, to replace any such Defaulting
Lender with another lender or lenders.

 

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8.3 Preservation of Rights.
No delay or omission of the Lenders, the LC Issuer or the Agent to exercise any right under
the Loan Documents shall impair such right or be construed to be a waiver of any Default or an
acquiescence therein, and the making of a Credit Extension notwithstanding the existence of a
Default or the inability of the Borrowers to satisfy the conditions precedent to such Loan shall
not constitute any waiver or acquiescence. Any single or partial exercise of any such right shall
not preclude other or further exercise thereof or the exercise of any other right, and no waiver,
amendment or other variation of the terms, conditions or provisions of the Loan Documents
whatsoever shall be valid unless in writing signed by the Lenders required pursuant to Section 8.2,
and then only to the extent in such writing specifically set forth. All remedies contained in the
Loan Documents or by law afforded shall be cumulative and all shall be available to the Agent, the
LC Issuer and the Lenders until the Obligations have been paid in full.

ARTICLE IX.

GUARANTEE

9.1 Guaranty.
Each Guarantor hereby agrees that it is jointly and severally liable for, and, as primary
obligor and not merely as surety, absolutely and unconditionally guarantees to the Lenders the
prompt payment when due, whether at stated maturity, upon acceleration or otherwise, and at all
times thereafter, of the Obligations and all costs and expenses including, without limitation, all
court costs and attorneys’ and paralegals’ fees (including allocated costs of in-house counsel and
paralegals) and expenses paid or incurred by the Agent, the LC Issuer and the Lenders in
endeavoring to collect all or any part of the Obligations from, or in prosecuting any action
against, any Borrower, any Guarantor or any other guarantor of all or any part of the Obligations
(such costs and expenses, together with the Obligations, collectively the “Guaranteed
Obligations”). Each Guarantor further agrees that the Guaranteed Obligations may be extended or
renewed in whole or in part without notice to or further assent from it, and that it remains bound
upon its guarantee notwithstanding any such extension or renewal. All terms of this Guaranty apply
to and may be enforced by or on behalf of any domestic or foreign branch or Affiliate of any Lender
that extended any portion of the Guaranteed Obligations.

9.2 Guaranty of Payment.
This Guaranty is a guaranty of payment and not of collection. Each Guarantor waives any right
to require the Agent, the LC Issuer or any Lender to sue any Borrower, any Guarantor, any other
guarantor, or any other person obligated for all or any part of the Guaranteed Obligations (each,
an “Obligated Party”), or otherwise to enforce its payment against any collateral securing all or
any part of the Guaranteed Obligations.

9.3 No Discharge or Diminishment of Guaranty.
(a) Except as otherwise provided for herein, the obligations of each Guarantor hereunder
are unconditional and absolute and not subject to any reduction, limitation, impairment or
termination for any reason (other than the indefeasible payment in full in cash of the Guaranteed
Obligations), including: (i) any claim of waiver, release, extension, renewal, settlement,
surrender, alteration, or compromise of any of the Guaranteed Obligations, by operation of law or
otherwise; (ii) any change in the corporate existence, structure or ownership of any Borrower or
any other guarantor of or other person liable for any
of the Guaranteed Obligations; (iii) any insolvency, bankruptcy, reorganization or other
similar proceeding affecting any Obligated Party, or their assets or any resulting release or
discharge of any obligation of any Obligated Party; or (iv) the existence of any claim, setoff or
other rights which any Guarantor may have at any time against any Obligated Party, the Agent, the
LC Issuer, any Lender, or any other person, whether in connection herewith or in any unrelated
transactions.

 

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(b) The obligations of each Guarantor hereunder are not subject to any defense or setoff,
counterclaim, recoupment, or termination whatsoever by reason of the invalidity, illegality, or
unenforceability of any of the Guaranteed Obligations or otherwise, or any provision of applicable
law or regulation purporting to prohibit payment by any Obligated Party, of the Guaranteed
Obligations or any part thereof.

(c) Further, the obligations of any Guarantor hereunder are not discharged or impaired or
otherwise affected by: (i) the failure of the Agent, the LC Issuer or any Lender to assert any
claim or demand or to enforce any remedy with respect to all or any part of the Guaranteed
Obligations; (ii) any waiver or modification of or supplement to any provision of any agreement
relating to the Guaranteed Obligations; (iii) any release, non-perfection, or invalidity of any
indirect or direct security for the obligations of the Borrower for all or any part of the
Guaranteed Obligations or any obligations of any other guarantor of or other person liable for any
of the Guaranteed Obligations; (iv) any action or failure to act by the Agent, the LC Issuer or any
Lender with respect to any collateral securing any part of the Guaranteed Obligations; or (v) any
default, failure or delay, willful or otherwise, in the payment or performance of any of the
Guaranteed Obligations, or any other circumstance, act, omission or delay that might in any manner
or to any extent vary the risk of such Guarantor or that would otherwise operate as a discharge of
any Guarantor as a matter of law or equity (other than the indefeasible payment in full in cash of
the Guaranteed Obligations).

9.4 Defenses Waived.
To the fullest extent permitted by applicable law, each Guarantor hereby waives any defense
based on or arising out of any defense of the Borrower or any Guarantor or the unenforceability of
all or any part of the Guaranteed Obligations from any cause, or the cessation from any cause of
the liability of any Borrower or any Guarantor, other than the indefeasible payment in full in cash
of the Guaranteed Obligations. Without limiting the generality of the foregoing, each Guarantor
irrevocably waives acceptance hereof, presentment, demand, protest and, to the fullest extent
permitted by law, any notice not provided for herein, as well as any requirement that at any time
any action be taken by any person against any Obligated Party, or any other person. The Agent may,
at its election, foreclose on any Collateral held by it by one or more judicial or nonjudicial
sales, accept an assignment of any such Collateral in lieu of foreclosure or otherwise act or fail
to act with respect to any collateral securing all or a part of the Guaranteed Obligations,
compromise or adjust any part of the Guaranteed Obligations, make any other accommodation with any
Obligated Party or exercise any other right or remedy available to it against any Obligated Party,
without affecting or impairing in any way the liability of such Guarantor under this Guaranty
except to the extent the Guaranteed Obligations have been fully and indefeasibly paid in cash. To
the fullest extent permitted by applicable law, each Guarantor waives any defense arising out of
any such election even though that election may operate, pursuant to applicable law, to impair or
extinguish any right of reimbursement or subrogation or other right or remedy of any Guarantor
against any Obligated Party or any security.

9.5 Rights of Subrogation.
No Guarantor will assert any right, claim or cause of action, including, without limitation, a
claim of subrogation, contribution or indemnification that it has against any Obligated Party, or
any
collateral, until the Borrowers and the Guarantors have fully performed all their obligations
to the Agent, the LC Issuer and the Lenders.

 

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9.6 Reinstatement; Stay of Acceleration.
If at any time any payment of any portion of the Guaranteed Obligations is rescinded or must
otherwise be restored or returned upon the insolvency, bankruptcy, or reorganization of any
Borrower or otherwise, each Guarantor’s obligations under this Guaranty with respect to that
payment shall be reinstated at such time as though the payment had not been made and whether or not
the Agent, the LC Issuer and the Lenders are in possession of this Guaranty. If acceleration of the
time for payment of any of the Guaranteed Obligations is stayed upon the insolvency, bankruptcy or
reorganization of any Borrower, all such amounts otherwise subject to acceleration under the terms
of any agreement relating to the Guaranteed Obligations shall nonetheless be payable by the
Guarantors forthwith on demand by the Lender.

9.7 Information.
Each Guarantor assumes all responsibility for being and keeping itself informed of each
Borrower’s financial condition and assets, and of all other circumstances bearing upon the risk of
nonpayment of the Guaranteed Obligations and the nature, scope and extent of the risks that each
Guarantor assumes and incurs under this Guaranty, and agrees that neither the Agent, the LC Issuer
nor any Lender shall have any duty to advise any Guarantor of information known to it regarding
those circumstances or risks.

9.8 Termination.
The Lenders may continue to make loans or extend credit to the Borrowers based on this
Guaranty until five days after it receives written notice of termination from any Guarantor.
Notwithstanding receipt of any such notice, each Guarantor will continue to be liable to the
Lenders for any Guaranteed Obligations created, assumed or committed to prior to the fifth day
after receipt of the notice, and all subsequent renewals, extensions, modifications and amendments
with respect to, or substitutions for, all or any part of that Guaranteed Obligations.

9.9 Taxes.
All payments of the Guaranteed Obligations will be made by each Guarantor free and clear of
and without deduction for any Indemnified Taxes or Other Taxes; provided that if any Guarantor
shall be required to deduct any Indemnified Taxes or Other Taxes from such payments, then (i) the
sum payable shall be increased as necessary so that after making all required deductions (including
deductions applicable to additional sums payable under this Section) the, Lender or LC Issuer (as
the case may be) receives an amount equal to the sum it would have received had no such deductions
been made, (ii) such Guarantor shall make such deductions and (iii) such Guarantor shall pay the
full amount deducted to the relevant Governmental Authority in accordance with applicable law.

9.10 Maximum Liability.
The provisions of this Guaranty are severable, and in any action or proceeding involving any
state corporate law, or any state, federal or foreign bankruptcy, insolvency, reorganization or
other law affecting the rights of creditors generally, if the obligations of any Guarantor under
this Guaranty would otherwise be held or determined to be avoidable, invalid or unenforceable on
account of the amount of such Guarantor’s liability under this Guaranty, then, notwithstanding any
other provision of this Guaranty
to the contrary, the amount of such liability shall, without any further action by the
Guarantors or the Lenders, be automatically limited and reduced to the highest amount that is valid
and enforceable as determined in such action or proceeding (such highest amount determined
hereunder being the relevant Guarantor’s “Maximum Liability”. This Section with respect to the
Maximum Liability of each Guarantor is intended solely to preserve the rights of the Lenders to the
maximum extent not subject to avoidance under applicable law, and no Guarantor nor any other person
or entity shall have any right or claim under this Section with respect to such Maximum Liability,
except to the extent necessary so that the obligations of any Guarantor hereunder shall not be
rendered voidable under applicable law. Each Guarantor agrees that the Guaranteed Obligations may
at any time and from time to time exceed the Maximum Liability of each Guarantor without impairing
this Guaranty or affecting the rights and remedies of the Lenders hereunder, provided that, nothing
in this sentence shall be construed to increase any Guarantor’s obligations hereunder beyond its
Maximum Liability.

 

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9.11 Contribution.
In the event any Guarantor (a “Paying Guarantor”) shall make any payment or payments under
this Guaranty or shall suffer any loss as a result of any realization upon any collateral granted
by it to secure its obligations under this Guaranty, each other Guarantor (each a “Non-Paying
Guarantor”) shall contribute to such Paying Guarantor an amount equal to such Non-Paying
Guarantor’s “Pro Rata Share” of such payment or payments made, or losses suffered, by such Paying
Guarantor. For purposes of this Article IX, each Non-Paying Guarantor’s “Pro Rata Share” with
respect to any such payment or loss by a Paying Guarantor shall be determined as of the date on
which such payment or loss was made by reference to the ratio of (i) such Non-Paying Guarantor’s
Maximum Liability as of such date (without giving effect to any right to receive, or obligation to
make, any contribution hereunder) or, if such Non-Paying Guarantor’s Maximum Liability has not been
determined, the aggregate amount of all monies received by such Non-Paying Guarantor from the
Borrowers after the date hereof (whether by loan, capital infusion or by other means) to (ii) the
aggregate Maximum Liability of all Guarantors hereunder (including such Paying Guarantor) as of
such date (without giving effect to any right to receive, or obligation to make, any contribution
hereunder), or to the extent that a Maximum Liability has not been determined for any Guarantor,
the aggregate amount of all monies received by such Guarantors from the Borrowers after the date
hereof (whether by loan, capital infusion or by other means). Nothing in this provision shall
affect any Guarantor’s several liability for the entire amount of the Guaranteed Obligations (up to
such Guarantor’s Maximum Liability). Each of the Guarantors covenants and agrees that its right to
receive any contribution under this Guaranty from a Non-Paying Guarantor shall be subordinate and
junior in right of payment to the payment in full in cash of the Guaranteed Obligations. This
provision is for the benefit of both the Agent, the LC Issuer, the Lenders and the Guarantors and
may be enforced by any one, or more, or all of them in accordance with the terms hereof.

9.12 Liability Cumulative.
The liability of the Company as a Guarantor under this Article IX is in addition to and shall
be cumulative with all liabilities of the Company to the Agent, the LC Issuer and the Lenders under
this Agreement and the other Loan Documents to which the Company is a party or in respect of any
obligations or liabilities of the other Borrowers and Gurantors, without any limitation as to
amount, unless the instrument or agreement evidencing or creating such other liability specifically
provides to the contrary.

ARTICLE X.

GENERAL PROVISIONS

10.1 Survival of Representations.
All representations and warranties of the Borrowers contained in this Agreement shall survive
delivery of the Loan Documents and the making of the Credit Extensions herein contemplated.

10.2 Governmental Regulation.
Anything contained in this Agreement to the contrary notwithstanding, neither the LC Issuer
nor any Lender shall be obligated to extend credit to a Borrower in violation of any limitation or
prohibition provided by any applicable statute or regulation.

10.3 Taxes.
Subject to any limitations set forth in Section 3.6, any taxes (excluding income taxes and
franchise taxes (imposed in lieu of income taxes) imposed on the Agent or any Lender as a result of
a present or former connection between the Agent or such Lender and the jurisdiction of the
Governmental Authority imposing such tax or any political subdivision or taxing authority thereof
or therein (other than any such connection arising solely from the Agent or such Lender having
executed, delivered or performed its obligations or received a payment under, or enforced, this
Agreement or any other Loan Document)) or other similar assessments or charges made by any
governmental or revenue authority in respect of the Loan Documents shall be paid by the Company,
together with interest and penalties, if any.

 

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10.4 Headings.
Section headings in the Loan Documents are for convenience of reference only, and shall not
govern the interpretation of any of the provisions of the Loan Documents.

10.5 Entire Agreement.
The Loan Documents embody the entire agreement and understanding among the Borrowers, the
Agent, the LC Issuer and the Lenders and supersede all prior agreements and understandings among
the Borrowers, the Agent, the LC Issuer and the Lenders relating to the subject matter thereof
other than any fee letters among any Borrowers and any of the Agent or Arranger and any other
agreements of any of the Borrowers with the Agent which survive the execution of the Loan
Documents.

10.6 Several Obligations; Benefits of this Agreement.
The respective obligations of the Lenders hereunder are several and not joint and no Lender
shall be the partner or agent of any other (except to the extent to which the Agent is authorized
to act as such). The failure of any Lender to perform any of its obligations hereunder shall not
relieve any other Lender from any of its obligations hereunder. This Agreement shall not be
construed so as to confer any right or benefit upon any Person other than the parties to this
Agreement and their respective successors and assigns.

10.7 Expenses; Indemnification.

(a) The Borrowers shall reimburse on demand the Agent and the Arranger for any reasonable
costs, and out-of-pocket expenses (including reasonable attorneys’ fees and time charges of
attorneys for the Agent) paid or incurred by the Agent or the Arranger in connection with the
preparation, negotiation, execution, delivery, syndication, review, amendment, modification, and
administration of the Loan Documents. The Borrowers also agree to reimburse on demand the Agent,
the LC Issuer, the Arranger and the Lenders for any reasonable costs, internal charges and
out-of-pocket expenses (including reasonable attorneys’ fees and time charges of attorneys for the
Agent, the LC Issuer, the Arranger and
the Lenders, which attorneys may be employees of the Agent, the LC Issuer, the Arranger or the
Lenders) paid or incurred by the Agent, the LC Issuer, the Arranger or any Lender in connection
with the collection and enforcement of the Loan Documents. The Borrowers acknowledge and agree
that from time to time the Agent may prepare and may distribute to the Lenders (but shall have no
obligation or duty to prepare or to distribute to the Lenders) certain audit reports (the
“Reports”) pertaining to any Borrower’s and Guarantors’ assets for internal use by the Agent from
information furnished to it by or on behalf of the Borrowers, after the Agent has exercised its
rights of inspection pursuant to this Agreement; provided that, if any Lender requests copies of
any future similar Reports which the Agent has prepared, then the Agent will provide such reports
to such Lender provided that such Lender has executed an indemnity agreement acceptable to the
Agent.

(b) The Borrowers hereby further agree to indemnify the Agent, the LC Issuer, the Arranger and
each Lender, and their respective directors, officers, employees and advisors against all losses,
claims, damages, penalties, judgments, liabilities and expenses (including, without limitation, all
expenses of litigation or preparation therefor whether or not the Agent, the LC Issuer, the
Arranger or any Lender is a party thereto) which any of them may pay or incur at any time arising
out of or relating to this Agreement, the other Loan Documents, the transactions contemplated
hereby or the direct or indirect application or proposed application of the proceeds of any Credit
Extension hereunder except to the extent that they are determined in a final non-appealable
judgment by a court of competent jurisdiction to have resulted from the gross negligence or willful
misconduct of the party seeking indemnification. The obligations of the Borrowers under this
Section 10.7 shall survive the termination of this Agreement.

10.8 Numbers of Documents.
All statements, notices, closing documents, and requests hereunder shall be furnished to the
Agent with sufficient counterparts so that the Agent may furnish one to each of the Lenders.

 

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10.9 Accounting.
Except as provided to the contrary herein, all accounting terms used herein shall be
interpreted and all accounting determinations hereunder shall be made in accordance with Agreement
Accounting Principles. For purposes of Article VI (including any baskets or limitations expressed
in U.S. Dollars therein) of this Agreement, any Indebtedness, Investment or other amount made or
incurred in any currency other than U.S. Dollars shall be deemed to be the U.S. Dollar Equivalent
thereof.

10.10 Severability of Provisions.
Any provision in any Loan Document that is held to be inoperative, unenforceable, or invalid
in any jurisdiction shall, as to that jurisdiction, be inoperative, unenforceable, or invalid
without affecting the remaining provisions in that jurisdiction or the operation, enforceability,
or validity of that provision in any other jurisdiction, and to this end the provisions of all Loan
Documents are declared to be severable.

10.11 Nonliability of Lenders.
The relationship between the Borrowers and the Lenders and the Agent shall be solely that of
borrower and lender. Neither the Agent, the LC Issuer nor any Lender shall have any fiduciary
responsibilities to any Borrower. Neither the Agent, the LC Issuer nor any Lender undertakes any
responsibility to any Borrower to review or inform any Borrower of any matter in connection with
any phase of such Borrower’s business or operations. Each Borrower agrees that neither the Agent,
the LC Issuer nor any Lender shall have liability to any Borrower (whether sounding in tort,
contract or
otherwise) for losses suffered by any Borrower in connection with, arising out of, or in any
way related to, the transactions contemplated and the relationship established by the Loan
Documents, or any act, omission or event occurring in connection therewith, unless it is determined
by a court of competent jurisdiction in a final and non-appealable order that such losses resulted
from the gross negligence or willful misconduct of, or violation of applicable laws or any of the
Loan Documents by, the party from which recovery is sought. Neither the Agent, the LC Issuer nor
any Lender shall have any liability with respect to, and each Borrower hereby waives, releases and
agrees not to sue for, any special, indirect or consequential damages suffered by the Borrowers in
connection with, arising out of, or in any way related to the Loan Documents or the transactions
contemplated thereby.

10.12 Confidentiality.
Each Lender agrees to hold any confidential information which it may receive from any Borrower
pursuant to this Agreement in confidence, and will not disclose or use for any purpose other than
its credit evaluation under this Agreement such confidential information, except for disclosure:
(i) to any Transferee or prospective Transferee or to any direct, indirect, actual or prospective
counterparty (and its advisor) to any swap, derivative or securitization transaction related to the
obligations under this Agreement to the extent provided in Section 13.4; (ii) to any affiliate of
such Lender, or any officer, director, employee or agent of such affiliate; provided, that such
affiliate agrees to hold any confidential information which it may receive in confidence and not to
disclose or use such confidential information for any purpose other than to assist the lender in
its credit evaluation under this Agreement; (iii) to legal counsel, accountants and other
professional advisors to that Lender (or such affiliate thereof) to the extent necessary to advise
that Lender (or such affiliate thereof) concerning its rights or obligations in respect of this
Agreement; provided, that such professional advisor agrees to hold any confidential information
which it may receive in confidence and not to disclose or use such confidential information for any
purpose other than advising that Lender with respect to its rights and obligations under this
Agreement; (iv) to regulatory officials to the extent required by applicable law, rule,
regulations, order, policy or directive (whether or not any such policy or directive has the force
of law); (v) pursuant to any order of any court, arbitrator or Governmental Authority of competent
jurisdiction (or as otherwise required by law); provided, however, that the Lender (or other Person
given confidential information by such Lender) shall provide the Company with prompt notice of any
such required disclosure so that the Company may seek a protective order or other appropriate
remedy, unless such notice is prohibited under applicable law, and in the event that such
protective order or other remedy is not

 

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 obtained, such Lender (or such other Person) will furnish
only that portion of the confidential information which is legally required, and (vi) to the extent
reasonably necessary in connection with the exercise of any remedy under this Agreement or any
other Loan Document. Previously confidential information that is or becomes available to the
public or becomes available to such Lender other than as a result of disclosure by (i) any Lender
prohibited by this Agreement or (ii) any person to whom a Lender is permitted to disclose such
information under obligation of confidentiality as provided in this Section 10.12, shall no longer
be subject to the confidentiality provisions of this Section 10.12. Notwithstanding anything
herein to the contrary, confidential information shall not include, and the Agent and each Lender
(and each employee, representative or other agent of the Agent and any Lender for so long as they
remain an employee, representative or other agent) may disclose to any and all Persons, without
limitation of any kind, the “tax treatment” and “tax structure” (in each case, within the meaning
of Treasury Regulation Section 1.6011-4) of the transactions contemplated hereby and all materials
of any kind (including opinions or other tax analyses) that are or have been provided to the Agent
or any Lender relating to such “tax treatment” or “tax structure”; provided that with respect to
any document or similar item that in either case contains information concerning the “tax
treatment” or “tax structure” of the transactions contemplated hereby as well as other information,
this sentence shall only apply to such portions of the document or similar item that relate to the
“tax treatment” or “tax structure” of the transactions contemplated hereby.

10.13 Nonreliance.
Each Lender hereby represents that it is not relying on or looking to any Margin Stock for the
repayment of the Credit Extensions provided for herein.

ARTICLE XI.

THE AGENT

11.1 Appointment; Nature of Relationship.
JPMCB is hereby appointed by the Lenders as the Agent hereunder and under each other Loan
Document, and each of the Lenders irrevocably authorizes the Agent to act as the contractual
representative of such Lender with the rights and duties expressly set forth herein and in the
other Loan Documents. The Agent agrees to act as such contractual representative upon the express
conditions contained in this Article XI. Notwithstanding the use of the defined term “Agent,” it
is expressly understood and agreed that the Agent shall not have any fiduciary responsibilities to
any Lender by reason of this Agreement or any other Loan Document and that the Agent is merely
acting as the contractual representative of the Lenders with only those duties as are expressly set
forth in this Agreement and the other Loan Documents. In its capacity as the Lenders’ contractual
representative, the Agent (i) does not hereby assume any fiduciary duties to any of the Lenders,
(ii) is a “representative” of the Lenders within the meaning of Section 9-105 of the Uniform
Commercial Code and (iii) is acting as an independent contractor, the rights and duties of which
are limited to those expressly set forth in this Agreement and the other Loan Documents. Each of
the Lenders hereby agrees to assert no claim against the Agent on any agency theory or any other
theory of liability for breach of fiduciary duty, all of which claims each Lender hereby waives.

11.2 Powers.
The Agent shall have and may exercise such powers under the Loan Documents as are specifically
delegated to the Agent by the terms of each thereof, together with such powers as are reasonably
incidental thereto. The Agent shall not have any implied duties to the Lenders, or any obligation
to the Lenders to take any action thereunder except any action specifically provided by the Loan
Documents to be taken by the Agent.

11.3 General Immunity.
Neither Agent nor any of its directors, officers, agents or employees shall be liable to the
Borrowers, the Lenders or any Lender for (a) any action taken or omitted to be taken by it or them
hereunder or under any other Loan Document or in connection herewith or therewith except to the
extent such action or inaction is determined in a final non-appealable judgment by a court of
competent jurisdiction to have arisen from the gross negligence or willful misconduct of such
Person; or (b) any determination by the Agent that compliance with any law or any governmental or
quasi-governmental rule, regulation, order, policy, guideline or directive (whether or not having
the force of law) requires the Advances and Commitments hereunder to be classified as being part of
a “highly leveraged transaction”.

 

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11.4 No Responsibility for Loans, Recitals, etc.
Neither the Agent nor any of its directors, officers, agents or employees shall be responsible
for or have any duty to ascertain, inquire into, or verify (i) any statement, warranty or
representation made in connection with any Loan Document or any borrowing hereunder; (ii) the
performance or observance of any of the covenants or agreements of any obligor under any Loan
Document, including, without
limitation, any agreement by an obligor to furnish information directly to each Lender; (iii)
the satisfaction of any condition specified in Article IV; (iv) the validity, enforceability,
effectiveness, sufficiency or genuineness of any Loan Document or any other instrument or writing
furnished in connection therewith; (v) the value, sufficiency, creation, perfection or priority of
any Lien in any collateral security; (vi) the existence or possible existence of any Default or
Unmatured Default; or (vii) the financial condition of any Borrower or Guarantor or any of their
respective Subsidiaries. The Agent shall not have any duty to disclose to the Lenders information
that is not required to be furnished by the Borrowers to such Agent at the time, but is voluntarily
furnished by the Borrowers to the Agent (either in its capacity as the Agent or in its individual
capacity).

11.5 Action on Instructions of Lenders.
The Agent shall in all cases be fully protected in acting, or in refraining from acting,
hereunder and under any other Loan Document in accordance with written instructions signed by the
Required Lenders (or all Lenders if required under Section 8.2(a)), and such instructions and any
action taken or failure to act pursuant thereto shall be binding on all of the Lenders and on all
holders of the Obligations. The Lenders hereby acknowledge that the Agent shall not be under any
duty to take any discretionary action permitted to be taken by it pursuant to the provisions of
this Agreement or any other Loan Document unless it shall be requested in writing to do so by the
Required Lenders. The Agent shall be fully justified in failing or refusing to take any action
hereunder and under any other Loan Document unless it shall first be indemnified to its
satisfaction by the Lenders pro rata against any and all liability, cost and expense that it may
incur by reason of taking or continuing to take any such action.

11.6 Employment of Agents and Counsel.
The Agent may execute any of its duties as Agent hereunder and under any other Loan Document
by or through employees, agents, and attorneys-in-fact and shall not be answerable to the Lenders,
except as to money or securities received by it or its authorized agents, for the default or
misconduct of any such agents or attorneys-in-fact selected by it with reasonable care. The Agent
shall be entitled to advice of counsel concerning the contractual arrangement between the Agent and
the Lenders and all matters pertaining to the Agent’s duties hereunder and under any other Loan
Document.

11.7 Reliance on Documents; Counsel.
The Agent shall be entitled to rely upon any Note, notice, consent, certificate, affidavit,
letter, telegram, statement, paper or document believed by it to be genuine and correct and to have
been signed or sent by the proper person or persons, and, in respect to legal matters, upon the
opinion of counsel selected by the Agent, which counsel may be employees of the Agent.

 

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11.8 Agent’s Reimbursement and Indemnification.
The Lenders agree to reimburse and indemnify (to the extent not reimbursed by a Borrower and
without limiting the obligation of any Borrower to do so) the Agent ratably in proportion to the
U.S. Dollar Equivalent of their respective Commitments (or, if the Commitments have been
terminated, in proportion to the U.S. Dollar Equivalent of their respective Commitments immediately
prior to such termination) (i) for any amounts not reimbursed by the Company for which the Agent is
entitled to reimbursement by the Company or the other Borrowers under the Loan Documents, (ii) for
any other expenses incurred by the Agent on behalf of the Lenders, in connection with the
preparation, execution, delivery, administration and enforcement of the Loan Documents, and (iii)
for any liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs,
expenses or disbursements of any kind and nature whatsoever which may be imposed on, incurred by or
asserted against the Agent in any way
relating to or arising out of the Loan Documents or any other document delivered in connection
therewith or the transactions contemplated thereby, or the enforcement of any of the terms thereof
or of any such other documents, provided that no Lender shall be liable for any of the foregoing to
the extent any of the foregoing is found in a final non-appealable judgment by a court of competent
jurisdiction to have resulted from the gross negligence or willful misconduct of the Agent. The
obligations of the Lenders under this Section 11.8 shall survive payment of the Obligations and
termination of this Agreement.

11.9 Notice of Default.
The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or
Unmatured Default hereunder unless the Agent has received written notice from a Lender or a
Borrower referring to this Agreement describing such Default or Unmatured Default and stating that
such notice is a “notice of default”. In the event that the Agent receives such a notice, the
Agent shall give prompt notice thereof to the Lenders.

11.10 Rights as a Lender.
In the event the Agent is a Lender, the Agent shall have the same rights and powers hereunder
and under any other Loan Document as any Lender and may exercise the same as though it were not an
Agent, and the term “Lender” or “Lenders” shall, at any time when the Agent is a Lender, unless the
context otherwise indicates, include the Agent in its individual capacity. The Agent and its
Affiliates may accept deposits from, lend money to, and generally engage in any kind of trust,
debt, equity or other transaction, in addition to those contemplated by this Agreement or any other
Loan Document, with the Company or any of its Subsidiaries in which the Company or such Subsidiary
is not restricted hereby from engaging with any other Person.

11.11 Lender Credit Decision.
Each Lender acknowledges that it has, independently and without reliance upon the Agent, the
Arranger or any other Lender and based on the financial statements prepared by the Borrowers and
such other documents and information as it has deemed appropriate, made its own credit analysis and
decision to enter into this Agreement and the other Loan Documents. Each Lender also acknowledges
that it will, independently and without reliance upon the Agent, the Arranger or any other Lender
and based on such documents and information as it shall deem appropriate at the time, continue to
make its own credit decisions in taking or not taking action under this Agreement and the other
Loan Documents.

11.12 Successor Agent.
The Agent may resign at any time by giving written notice thereof to the Lenders and the
Company, such resignation to be effective upon the appointment of a successor Agent or, if no such
successor Agent has been appointed, forty-five days after the retiring Agent gives notice of its
intention to resign. The Agent may be removed at any time with or without cause by written notice
received by the Agent from the Required Lenders, such removal to be effective on the date specified
by the Required Lenders. Upon any such resignation or removal, the Required Lenders shall have the
right to appoint, on behalf of the Borrowers and the Lenders, a successor Agent to such Agent. If
no such successor Agent shall have been so appointed by the Required Lenders within thirty days
after such resigning Agent’s giving notice of its intention to resign, then such resigning Agent
may appoint, on behalf of the Company and the Lenders, a successor Agent for itself. If the Agent
has resigned or been removed and no successor Agent has been appointed, the Lenders may perform all
the duties of the Agent hereunder and the Company shall make all payments in respect of the
Obligations to the applicable Lender and for all other purposes shall deal directly with the
Lenders. No successor Agent shall be deemed to be appointed
hereunder until such successor Agent has accepted the appointment. Any such successor Agent
shall be a commercial bank having capital and

 

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retained earnings of at least $500,000,000. Upon the
acceptance of any appointment as an Agent hereunder by a successor Agent, such successor Agent
shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of
the resigning or removed Agent. Upon the effectiveness of the resignation or removal of the Agent,
the resigning or removed Agent shall be discharged from its duties and obligations hereunder and
under the Loan Documents. After the effectiveness of the resignation or removal of an Agent, the
provisions of this Article XI shall continue in effect for the benefit of the Agent in respect of
any actions taken or omitted to be taken by it while it was acting as an Agent hereunder and under
the other Loan Documents.

11.13 Delegation to Affiliates.
The Borrowers and the Lenders agree that the Agent may delegate any of its duties under this
Agreement to any of its Affiliates. Any such Affiliate (and such Affiliate’s directors, officers,
agents and employees) which performs duties in connection with this Agreement shall be entitled to
the same benefits of the indemnification, waiver, and other protective provisions to which the
Agent is entitled under Articles X and XI.

11.14 Arranger, Syndication Agents and Documentation Agents.
Each Lender and each Borrower acknowledges and agrees that the Arranger, each Syndication
Agent and each Documentation Agent, in such capacity, shall not have any duties or
responsibilities, nor incur any liabilities, under this Agreement or the other Loan Documents in
its capacity as such.

11.15 Execution of Collateral Documents.
The Lenders hereby empower and authorize the Agent (in its capacity as Agent or as Collateral
Agent) to execute and deliver the Collateral Documents and all related documents or instruments as
shall be necessary or appropriate to effect the purposes of the Collateral Documents. The Lenders
further empower and authorize the Agent (in its capacity as Agent or as Collateral Agent) to
execute and deliver on their behalf the Intercreditor Agreement and all related documents or
instruments as shall be necessary or appropriate to effect the purposes of the Intercreditor
Agreement, provided that the form of the Intercreditor Agreement has been approved by the Required
Lenders, and each Lender shall be bound by the terms and provisions of the Intercreditor Agreement
so executed by the Agent.

11.16 Collateral Releases.
The Lenders hereby irrevocably empower and authorize JPMCB, in its capacity as Agent or as
Collateral Agent, to execute and deliver on their behalf any agreements, documents or instruments
as shall be necessary or appropriate to effect any releases or subordinations of Liens on any
Collateral (i) which being sold or disposed of if the Company certifies to the Agent that the sale
or disposition is made in compliance with the terms of this Agreement (and the Agent may rely
conclusively on any such certificate, without further inquiry), (ii) owned by or leased to the
Company or any of its Subsidiaries which is subject to a purchase money security interest or which
is the subject of a Capitalized Lease, (iii) as required to effect any sale or other disposition of
such Collateral in connection with any exercise of remedies of the Collateral Agent or the Agent or
(iv) which shall otherwise be permitted by the terms hereof or any other Loan Document. Except as
provided in the preceding sentence, JPMCB, in its capacity as Agent or as Collateral Agent, will
not release any Liens on Collateral without the prior written authorization of the Required
Lenders; provided that, JPMCB, in its capacity as Agent or as Collateral Agent, may in its
discretion, release Liens on Collateral valued in the aggregate not in excess of $1,000,000 during
any calendar year without the prior written authorization of the Lenders. In addition to
the foregoing, the Lenders, the Agent and the Collateral Agent hereby agree that the Qualified
Receivables Transaction Assets shall not be subject to the Liens in favor of the Collateral Agent.

 

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11.17 Collateral; Reports.
The Agent shall have no obligation whatsoever to any of the Lenders to assure that the
Collateral exists or is owned by the Company or any Subsidiary or is cared for, protected, or
insured or has been encumbered, or that any Liens have been properly or sufficiently or lawfully
created, perfected, protected, or enforced or are entitled to any particular priority, or to
exercise at all or in any particular manner or under any duty of care, disclosure, or fidelity, or
to continue exercising, any of the rights, authorities, and powers granted or available to the
Agent pursuant to any of the Loan Documents, it being understood and agreed that in respect of the
Collateral, or any act, omission, or event related thereto, the Agent may act in any manner it may
deem appropriate, in its sole discretion given the Agent’s own interest in the Collateral in its
capacity as one of the Lenders and that the Agent shall have no other duty or liability whatsoever
to any Lender as to any of the foregoing. Each Lender hereby agrees as follows: (a) such Lender is
deemed to have requested that the Agent furnish such Lender, promptly after it becomes available, a
copy of each report prepared by the Agent or another Person showing the results of appraisals,
field examinations, audits or other reports pertaining to the Company’s and its Subsidiaries’
assets from information furnished by or on behalf of the Company or its Subsidiaries prepared by or
on behalf of the Agent (the “Supplemental Reports”); (b) such Lender expressly agrees and
acknowledges that JPMCB, either individually, as Agent, as Collateral Agent or in any other
capacity, (i) makes no representation or warranty, express or implied, as to the completeness or
accuracy of any Supplemental Report or any of the information contained therein, or (ii) shall not
be liable for any information contained in any Supplemental Report; (c) such Lender expressly
agrees and acknowledges that the Supplemental Reports are not comprehensive audits or examinations,
that the Collateral Agent, the Agent, JPMCB, or any other party performing any audit or examination
will inspect only specific information regarding the Company and its Subsidiaries and will rely
significantly upon the books and records of the Company and is Subsidiaries, as well as on
representations of the personnel of the Company and its Subsidiaries and that JPMCB, either
individually, as Agent, as Collateral Agent or in any other capacity, undertakes no obligation to
update, correct or supplement the Supplemental Reports; (d) such Lender agrees to keep all
Supplemental Reports confidential and strictly for its internal use, not share any Supplemental
Report with the Company or any of its Subsidiaries and not to distribute any Supplemental Report to
any other Person except as otherwise permitted pursuant to this Agreement; and (e) without limiting
the generality of any other indemnification provision contained in this Agreement, such Lender
agrees (i) that JPMCB, either individually, as Agent, as Collateral Agent or in any other capacity,
shall not be liable to such Lender or any other Person receiving a copy of any Supplemental Report
for any inaccuracy or omission contained in or relating to a Supplemental Report, (ii) to conduct
its own due diligence investigation and make credit decisions with respect to the Company and its
Subsidiaries based on such documents as such Lender deems appropriate without any reliance on the
Supplemental Reports or on JPMCB, either individually, as Agent, as Collateral Agent or in any
other capacity, (iii) to hold JPMCB, either individually, as Agent, as Collateral Agent or in any
other capacity, and any such other Person preparing a Supplemental Report harmless from any action
the indemnifying Lender may take or conclusion the indemnifying Lender may reach or draw from any
Supplemental Report in connection with any Credit Extensions that the indemnifying Lender has made
or may make to any Company, or the indemnifying Lender’s participation in, or the indemnifying
Lender’s purchase of, any Obligations and (iv) to pay and protect, and indemnify, defend, and hold
JPMCB, either individually, as Agent, as Collateral Agent or in any other capacity, and any such
other Person preparing a Supplemental Report harmless from and against, the claims, actions,
proceedings, damages, costs, expenses, and other amounts (including reasonable attorney fees)
incurred by JPMCB, either individually, as Agent, as Collateral Agent or in any other capacity, and
any such other Person preparing a Supplemental Report as the direct or indirect result
of any third parties who might obtain all or part of any Supplemental Report through the
indemnifying Lender.

ARTICLE XII.

SETOFF; ADJUSTMENTS AMONG LENDERS

12.1 Setoff.
In addition to, and without limitation of, any rights of the Lenders under applicable law, if
any Default occurs, any and all deposits (including all account balances, whether provisional or
final and whether or not collected or available) and any other Indebtedness at any time held or
owing by any Lender or any Affiliate thereof to or for the credit or account of any Borrower may be
offset and applied toward the payment of the Obligations owing to such Lender by such Borrower
pursuant to this Agreement.

 

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12.2 Ratable Payments.
If any Lender, whether by setoff or otherwise, has payment made to it upon its Outstanding
Credit Exposure to a Borrower (other than payments received pursuant to Section 3.1, 3.2, 3.4, 3.6
or 10.7) in a greater proportion than that received by any other Lender, such Lender agrees,
promptly upon demand, to purchase a portion of the Aggregate Outstanding Credit Exposure to such
Borrower held by the other Lenders so that after such purchase each Lender will hold its Pro Rata
Share of Aggregate Outstanding Credit Exposure to such Borrower. If any Lender, whether in
connection with setoff or amounts which might be subject to setoff or otherwise, receives
collateral or other protection or such amounts which may be subject to setoff, such Lender agrees,
promptly upon demand, to take such action necessary such that all Lenders share in the benefits of
such collateral ratably in proportion to their respective Pro Rata Share of the Aggregate
Outstanding Credit Exposure. In case any such payment is disturbed by legal process, or otherwise,
appropriate further adjustments shall be made.

ARTICLE XIII.

BENEFIT OF AGREEMENT; ASSIGNMENTS; PARTICIPATIONS

13.1 Successors and Assigns.
The terms and provisions of the Loan Documents shall be binding upon and inure to the benefit
of the Borrowers and the Lenders and their respective successors and assigns, except that (i) the
Borrowers shall not have the right to assign their rights or obligations under the Loan Documents
and (ii) any assignment by any Lender must be made in compliance with Section 13.3.
Notwithstanding clause (ii) of this Section, any Lender may at any time, without the consent of the
Borrowers or the Agent, assign all or any portion of its rights under this Agreement, and the Loan
Documents to a Federal Reserve Bank; provided, however, that no such assignment to a Federal
Reserve Bank shall release the transferor Lender from its obligations hereunder. The Agent may
treat the payee of any Loan Document as the owner thereof for all purposes hereof unless and until
such payee complies with Section 13.3 in the case of an assignment thereof or, in the case of any
other transfer, a written notice of the transfer is filed with the Agent. Any assignee or
transferee of any of the Advances or a Note agrees by acceptance thereof to be bound by all the
terms and provisions of the Loan Documents. Any request, authority or consent of any Person, who
at the time of making such request or giving such authority or consent is the owner of any of the
Advances or a holder of any Note, shall be conclusive and binding on any subsequent holder,
transferee or assignee of such Note or of any Note or Notes issued in exchange therefor.

13.2 Participations.

(a) Permitted Participants; Effect. Subject to Section 13.4, any Lender may, in the
ordinary course of its business and in accordance with applicable law, at any time sell to one or
more banks or other entities (“Participants”) participating interests in any Outstanding Credit
Exposure of such Lender, any Note held by such Lender, any Commitment of such Lender or any other
interest of such Lender under the Loan Documents. In the event of any such sale by a Lender of
participating interests to a Participant, such Lender’s obligations under the Loan Documents shall
remain unchanged, such Lender shall remain solely responsible to the other parties hereto for the
performance of such obligations, such Lender shall remain the holder of its Outstanding Credit
Exposure or Note for all purposes under the Loan Documents, all amounts payable by the Borrowers
under this Agreement shall be determined as if such Lender had not sold such participating
interests (including without limitation payments with respect to Non-Excluded Taxes), and the
Borrowers and the Agent shall continue to deal solely and directly with such Lender in connection
with such Lender’s rights and obligations under the Loan Documents.

 

74

 

(b) Voting Rights. Each Lender shall retain the sole right to approve, without the
consent of any Participant, any amendment, modification or waiver of any provision of the Loan
Documents other than any amendment, modification or waiver with respect to any Credit Extension or
Commitment in which such Participant has an interest which would require the consent of all Lenders
under Section 8.2(a).

(c) Benefit of Setoff. The Borrowers agree that each Participant shall be deemed to
have the right of setoff provided in Section 12.1 in respect of its participating interest in
amounts owing under the Loan Documents to the same extent as if the amount of its participating
interest were owing directly to it as a Lender under the Loan Documents and any such setoff shall
be applied to the Obligations, provided that each Lender shall retain the right of setoff
provided in Section 12.1 with respect to the amount of participating interests sold to each
Participant. The Lenders agree to share with each Participant, and each Participant, by exercising
the right of setoff provided in Section 12.1, agrees to share with each Lender, any amount received
pursuant to the exercise of its right of setoff, such amounts to be shared in accordance with
Section 12.2 as if each Participant were a Lender.

13.3 Assignments.

(a) Permitted Assignments. Subject to Section 13.4 and the further provisions of this
Section 13.3, any Lender may, in the ordinary course of its business and in accordance with
applicable law, at any time assign to one or more banks, finance companies, insurance companies or
other financial institutions or funds that are engaged in making, purchasing or otherwise investing
in commercial loans in the ordinary course of its business or, any other entity (“Purchasers”) all
or any part of its rights and obligations under the Loan Documents. Such assignment shall be
substantially in the form of Exhibit G hereto (an “Assignment”) or in such other form as may be
agreed to by the parties thereto. The consent of the Agent, the LC Issuer and the Company shall be
required prior to an assignment becoming effective, which consent shall not be unreasonably
withheld or delayed; provided, that, the consent of the Company shall not be required for an
assignment to (i) a Lender or an Affiliate of a Lender unless such assignment would result in any
Lender holding greater than fifty percent (50%) of the Commitments, in which case consent of the
Company shall be required, or (ii) during the continuance of any Default, any other assignee. Each
such assignment shall be in an amount not less than the lesser of (i) $5,000,000 (or its U.S.
Dollar Equivalent), or (ii) the remaining amount of the assigning Lender’s Commitment (calculated
as at the date of such assignment). No Assignment shall be permitted by a Lender that has any
Alternate Currency Commitment unless (i) the assignee agrees to assume the entire obligation of the
assignor to make Alternate Currency Loans and agrees to assume all outstanding Alternate Currency
Loans and (ii) such assumptions by the assignee do not result in any Borrower being required to
make additional payments to any Lender under this Agreement.

(b) Effect; Effective Date. Upon (i) delivery to the Agent of a notice of assignment,
substantially in the form attached as Exhibit I to Exhibit G hereto (a “Notice of Assignment”),
together with any consents required by Section 13.3(a), and (ii) payment of a $3,500 fee to the
Agent for processing such assignment (provided that such fee shall not be required if such
assignment is to an existing Lender or an Affiliate thereof), such assignment shall become
effective on the effective date specified in such Notice of Assignment. The Notice of Assignment
shall contain a representation by the Purchaser to the effect that none of the consideration used
to make the purchase of the Commitment and Outstanding Credit Exposure under the applicable
assignment agreement are “plan assets” as defined under ERISA and that the rights and interests of
the Purchaser in and under the Loan Documents will not be “plan assets” under ERISA. On and after
the effective date of such assignment, such Purchaser shall for all purposes be a Lender party to
this Agreement and any other Loan Document executed by the Lenders and shall have all the rights
and obligations of a Lender under the Loan Documents, to the same extent as if it were an original
party hereto, and no further consent or action by the Company, the Lenders
or the Agent shall be
required to release the transferor Lender with respect to the percentage of the Aggregate
Commitments and Outstanding Credit Exposure assigned to such Purchaser. Upon the consummation of
any assignment to a Purchaser pursuant to this Section 13.3(b), the transferor Lender, the Agent
and the Company shall make appropriate arrangements so that replacement Notes, if applicable, are
issued to such transferor Lender and new Notes or, as appropriate, replacement Notes, are issued to
such Purchaser, in each case in principal amounts reflecting their respective Commitments, as
adjusted pursuant to such assignment.

 

75

 

13.4 Dissemination of Information.
Each Borrower authorizes each Lender to disclose to any Participant or Purchaser or any other
Person acquiring an interest in the Loan Documents by operation of law or to any direct, indirect,
actual or prospective counterparty (and its advisor) to any swap, derivative or securitization
transaction related to the obligations under this Agreement (each a “Transferee”) and any
prospective Transferee any and all information in such Lender’s possession concerning the
creditworthiness of the Company and its Subsidiaries, provided that each Transferee and prospective
Transferee agrees to be bound by Section 10.12.

13.5 Tax Treatment.
If any interest in any Loan Document is transferred to any Transferee which is organized under
the laws of any jurisdiction other than the United States or any State thereof (in the case of a
Transferee which is a Lender to the Company), or of the jurisdiction in which a Foreign Subsidiary
Borrower is located (in the case of a Trustee which is a Lender to such Foreign Subsidiary
Borrower), the transferor Lender shall cause such Transferee, concurrently with the effectiveness
of such transfer, to comply with the provisions of Section 3.6. No interest in a Loan may be
transferred to any Person if as a consequence of such transfer any Borrower shall be required to
make additional payments to any Lender under this Agreement.

ARTICLE XIV.

NOTICES

14.1 Notices.
Except as otherwise permitted by Article II with respect to borrowing notices, all notices,
requests and other communications to any party hereunder shall be in writing (including bank wire,
facsimile transmission or similar writing) and shall be given to such party: (x) in the case of a
Borrower or the Agent, at its address or facsimile number set forth on the signature pages hereof,
(y) in the case of
any Lender, at its address or facsimile number set forth in its Administrative Questionnaire
or (z) in the case of any party, such other address or facsimile number as such party may hereafter
specify for the purpose by notice to the Agent and the Borrowers. Each such notice, request or
other communication shall be effective (i) if given by facsimile transmission, when transmitted to
the facsimile number specified in this Section and confirmation of receipt is received, (ii) if
given by mail, 72 hours after such communication is deposited in the mails with first class postage
prepaid, addressed as aforesaid or (iii) if given by any other means, when delivered at the address
specified in this Section; provided that notices to the Agent under Article II shall not be
effective until received.

14.2 Change of Address.
Any Borrower, the Agent and any Lender may each change the address for service of notice upon
it by a notice in writing to the other parties hereto, which change shall be effective seven (7)
days after receipt.

ARTICLE XV.

COUNTERPARTS

This Agreement may be executed in any number of counterparts, all of which taken together
shall constitute one agreement, and any of the parties hereto may execute this Agreement by signing
any such counterpart. This Agreement shall be effective when it has been executed by the
Borrowers, the Agent, the LC Issuer and the Lenders and each party has notified the Agent by
facsimile or telephone, that it has taken such action.

 

76

 

ARTICLE XVI.

CHOICE OF LAW, CONSENT TO JURISDICTION,

WAIVER OF JURY TRIAL, JUDGMENT CURRENCY

16.1 CHOICE OF LAW.
THE LOAN DOCUMENTS (OTHER THAN THOSE CONTAINING A CONTRARY EXPRESS CHOICE OF LAW PROVISION)
SHALL BE CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS (AND NOT THE LAW OF CONFLICTS) OF THE STATE
OF MICHIGAN, BUT GIVING EFFECT TO FEDERAL LAWS APPLICABLE TO NATIONAL BANKS.

16.2 WAIVER OF JURY TRIAL.
EACH BORROWER, THE AGENT, THE LC ISSUER AND EACH LENDER HEREBY WAIVES TRIAL BY JURY IN ANY
JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER SOUNDING IN TORT,
CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH ANY LOAN DOCUMENT
OR THE RELATIONSHIP ESTABLISHED THEREUNDER.

16.3 Submission To Jurisdiction; Waivers.

(a) Each Borrower hereby irrevocably and unconditionally:

(i) submits for itself and its property in any legal action or proceeding relating to this
Agreement and the other Loan Documents to which it is a party, or for recognition and enforcement
of any judgment in respect thereof, to the non-exclusive general jurisdiction of any United States
federal or Michigan state court sitting in Detroit, Michigan and appellate courts from any thereof;

(ii) consents that any such action or proceeding may be brought in such courts and waives any
objection that it may now or hereafter have to the venue of any such action or proceeding in any
such court or that such action or proceeding was brought in an inconvenient court and agrees not to
plead or claim the same;

(iii) agrees that service of process in any such action or proceeding may be effected by
mailing a copy thereof by registered or certified mail (or any substantially similar form of mail),
postage prepaid, to the Company or such Foreign Subsidiary Borrower, as the case may be, at the
address specified in Section 14.1, or at such other address of which the Agent shall have been
notified pursuant thereto;

(iv) agrees that nothing herein shall affect the right to effect service of process in any
other manner permitted by law or shall limit the right to sue in any other jurisdiction; and

(v) waives, to the maximum extent not prohibited by law, any right it may have to claim or
recover in any legal action or proceeding referred to in this subsection any special, exemplary,
punitive or consequential damages.

(b) Each Foreign Subsidiary Borrower hereby irrevocably appoints the Company as its agent for
service of process in any proceeding referred to in Section 16.3(a) and agrees that service of
process in any such proceeding may be made by mailing or delivering a copy thereof to it care of
Company at its address for notices set forth in Section 14.1.

 

77

 

16.4 Acknowledgments.
Each Borrower hereby acknowledges that:

(a) it has been advised by counsel in the negotiation, execution and delivery of this
Agreement and the other Loan Documents;

(b) none of the Agent or any Lender has any fiduciary relationship with or duty to such
Borrower arising out of or in connection with this Agreement or any of the other Loan Documents,
and the relationship between the Agent and the Lenders, on the one hand, and the Borrowers, on the
other hand, in connection herewith or therewith is solely that of debtor and creditor; and

(c) no joint venture is created hereby or by the other Loan Documents or otherwise exists by
virtue of the transactions contemplated hereby among the Lenders or among the Borrowers and the
Lenders.

16.5 Power of Attorney.
Each Foreign Subsidiary Borrower hereby grants to the Company an irrevocable power of attorney
to act as its attorney-in-fact with regard to matters relating to this Agreement and each other
Loan Document, including, without limitation, execution and delivery of any amendments,
supplements, waivers or other modifications hereto or thereto, receipt of any notices hereunder or
thereunder and receipt of service of process in connection herewith or therewith. Each Foreign
Subsidiary Borrower hereby explicitly acknowledges that the Agent and each Lender have executed and
delivered this Agreement and each other Loan Document to which it is a party, and has performed its
obligations under this Agreement and each other Loan Document to which it is a party, in reliance
upon the irrevocable grant of such power of attorney pursuant to this subsection. The power of
attorney granted by each Foreign Subsidiary Borrower hereunder is coupled with an interest.

16.6 Judgment.

(a) If for the purpose of obtaining judgment in any court it is necessary to convert a sum due
hereunder in one currency into another currency, the parties hereto agree, to the fullest extent
that they may effectively do so under applicable law, that the rate of exchange used shall be that
at which in accordance with normal banking procedures the Agent could purchase the first currency
with such other currency in the city in which it normally conducts its foreign exchange operation
for the first currency on the Business Day preceding the day on which final judgment is given.

(b) The obligation of each Borrower in respect of any sum due from it to any Lender hereunder
shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than that
in which such sum is denominated in accordance with the applicable provisions of this Agreement
(the “Agreement Currency”), be discharged only to the extent that on the Business Day
following receipt by such Lender of any sum adjudged to be so due in the Judgment Currency such
Lender may in accordance with normal banking procedures purchase the Agreement Currency with the
Judgment Currency; if the amount of Agreement Currency so purchased is less than the sum originally
due to such Lender in the Agreement Currency, such Borrower agrees notwithstanding any such
judgment to indemnify such Lender against such loss, and if the amount of the Agreement Currency so
purchased exceeds the sum originally due to any Lender, such Lender agrees to remit to such
Borrower such excess.

16.7 USA PATRIOT Act.
Each Lender that is subject to the requirements of the USA Patriot Act (Title III of Pub. L.
107-56 (signed into law October 26, 2001)) (the “Act”) hereby notifies each Borrower that pursuant
to the requirements of the Act, it is required to obtain, verify and record information that
identifies each Borrower, which information includes the name and address of each Borrower and
other information that will allow such Lender to identify such Borrower in accordance with the Act.

 

78

 

IN WITNESS WHEREOF, the Borrowers, the Guarantors, the Lenders and the Agent have executed
this Agreement as of the date first above written.

	 	 	 	 	 
	 	KELLY SERVICES, INC.

 	 
	 	By:  	/s/ Joel Starr
 	 
	 	 	Print Name:  	Joel Starr 	 
	 	 	Title:  	Treasurer 	 
	 
	 	999 West Big Beaver Road

Troy, Michigan 48084

Attention: Treasurer

 	 
	 	KELLY PROPERTIES, LLC

 	 
	 	By:  	/s/ Joel Starr
 	 
	 	 	Print Name:  	Joel Starr 	 
	 	 	Title:  	Treasurer 	 
	 
	 	999 West Big Beaver Road

Troy, Michigan 48084

Attention: Treasurer

 	 
	 	KELLY RECEIVABLES SERVICES, LLC

 	 
	 	By:  	/s/ Joel Starr
 	 
	 	 	Print Name:  	Joel Starr 	 
	 	 	Title:  	Treasurer 	 
	 
	 	999 West Big Beaver Road

Troy, Michigan 48084

Attention: Treasurer
 	 

[Signature Page to Credit Agreement]

 

 

 

	 	 	 	 	 
	 	KELLY SERVICES (IRELAND), LTD.

 	 
	 	By:  	/s/ Joel Starr
 	 
	 	 	Print Name:  	Joel Starr 	 
	 	 	Title:  	Treasurer 	 
	 
	 	999 West Big Beaver Road

Troy, Michigan 48084

Attention: Treasurer

 	 
	 	KELLY SERVICES OF DENMARK, INC.

 	 
	 	By:  	/s/ Joel Starr
 	 
	 	 	Print Name:  	Joel Starr 	 
	 	 	Title:  	Treasurer 	 
	 
	 	999 West Big Beaver Road

Troy, Michigan 48084

Attention: Treasurer

 	 
	 	KELLY SERVICES CIS, INC.

 	 
	 	By:  	/s/ Joel Starr
 	 
	 	 	Print Name:  	Joel Starr 	 
	 	 	Title:  	Treasurer 	 
	 
	 	999 West Big Beaver Road

Troy, Michigan 48084

Attention: Treasurer
 	 

[Signature Page to Credit Agreement]

 

 

 

	 	 	 	 	 
	 	KELLY SERVICES (AUSTRALIA), LTD.

 	 
	 	By:  	/s/ Joel Starr
 	 
	 	 	Print Name:  	Joel Starr 	 
	 	 	Title:  	Treasurer 	 
	 
	 	999 West Big Beaver Road

Troy, Michigan 48084

Attention: Treasurer

 	 
	 	KELLY SERVICES (NEW ZEALAND), LTD.

 	 
	 	By:  	/s/ Joel Starr
 	 
	 	 	Print Name:  	Joel Starr 	 
	 	 	Title:  	Treasurer 	 
	 
	 	999 West Big Beaver Road

Troy, Michigan 48084

Attention: Treasurer

 	 
	 	KELLY STAFF LEASING, INC.

 	 
	 	By:  	/s/ Joel Starr
 	 
	 	 	Print Name:  	Joel Starr 	 
	 	 	Title:  	Treasurer 	 
	 
	 	 999 West Big Beaver Road

Troy, Michigan 48084

Attention: Treasurer
 	 

[Signature Page to Credit Agreement]

 

 

 

	 	 	 	 	 
	 	KHCS, INC.

 	 
	 	By:  	/s/ Joel Starr
 	 
	 	 	Print Name:  	Joel Starr 	 
	 	 	Title:  	Treasurer 	 
	 
	 	999 West Big Beaver Road

Troy, Michigan 48084

Attention: Treasurer

 	 
	 	KSI ACQUISITION CORPORATION

 	 
	 	By:  	/s/ Joel Starr
 	 
	 	 	Print Name:  	Joel Starr 	 
	 	 	Title:  	Treasurer 	 
	 
	 	 999 West Big Beaver Road

Troy, Michigan 48084

Attention: Treasurer
 	 

[Signature Page to Credit Agreement]

 

 

 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A., as Agent,

as Swing Line Lender, as the LC Issuer and as a

Lender.

 	 
	 	By:  	/s/ Suzanne Ergastolo 	 
	 	 	Print Name:  	Suzanne Ergastolo  	 
	 	 	Title:  	Vice President 	 
	 
	 	 10 S. Dearborn St., Floor 9

Chicago, Illinois 60603

 	 
	 	
Attention:	Suzanne Ergastolo 	 
	 	
 	Mail Code: IL1-0364 	 

[Signature Page to Credit Agreement]

 

 

 

	 	 	 	 	 
	 	PNC BANK, NATIONAL ASSOCIATION

 	 
	 	By:  	/s/ Louis K. McLinden 	 
	 	 	Print Name:  	Louis K. McLinden 	 
	 	 	Title:  	Managing Director 	 

[Signature Page to Credit Agreement]

 

 

 

	 	 	 	 	 
	 	COMERICA BANK

 	 
	 	By:  	 /s/ Jessica M. Migliore	 
	 	 	Print Name:  	 Jessica M. Migliore	 
	 	 	Title:  	 Assistant Vice President	 

[Signature Page to Credit Agreement]

 

 

 

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION

 	 
	 	By:  	 /s/
Mary
Ann Klemm	 
	 	 	Print Name:  	 Mary
Ann Klemm	 
	 	 	Title:  	 Vice
President	 

[Signature Page to Credit Agreement]

 

 

 

	 	 	 	 	 
	 	ROYAL BANK OF CANADA

 	 
	 	By:  	 /s/
Dustin Craven	 
	 	 	Print Name:  	 Dustin
Craven	 
	 	 	Title:  	 Attorney-in-Fact	 

[Signature Page to Credit Agreement]

 

 

 

	 	 	 	 	 
	 	BANK OF AMERICA

 	 
	 	By:  	 /s/
Michael Makaitis	 
	 	 	Print Name:  	 Michael
Makaitis	 
	 	 	Title:  	 Vice
President	 

[Signature Page to Credit Agreement]

 

 

 

EXHIBIT A

PRICING SCHEDULE

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	LEVEL I	 	 	LEVEL II	 	 	LEVEL III	 
	APPLICABLE MARGIN	 	STATUS	 	 	STATUS	 	 	STATUS	 
	Eurocurrency Rate
	 	310.0 bps	 	325.0 bps	 	375.0 bps
	Floating Rate
	 	210.0 bps	 	225.0 bps	 	275.0 bps
	LC Fee
	 	310.0 bps	 	325.0 bps	 	375.0 bps
	Facility Fee
	 	40.0 bps	 	50.0 bps	 	50.0 bps

For the purposes of this Schedule, the following terms have the following meanings, subject to
the final paragraph of this Schedule:

“Financials” means the annual or quarterly financial statements of the Company delivered
pursuant to Sections 6.1(a) or (b).

“Level I Status” exists at any date if, as of the last day of the fiscal quarter of the
Company referred to in the most recent Financials, the Total Indebtedness to Total Capitalization
Ratio is less than 0.20 to 1.00.

“Level II Status” exists at any date if, as of the last day of the fiscal quarter of the
Company referred to in the most recent Financials, (i) the Company has not qualified for Level I
Status and (ii) the Total Indebtedness to Total Capitalization Ratio is less than 0.30 to 1.00.

“Level III Status” exists at any date if the Company has not qualified for Level I Status or
Level II Status.

“Status” means Level I Status, Level II Status or Level III Status.

The Applicable Margin shall be determined in accordance with the foregoing table based on the
Company’s Status as reflected in the then most recent Financials. Adjustments, if any, to the
Applicable Margin shall be effective five Business Days after the Agent has received the applicable
Financials. If the Company fails to deliver the Financials to the Agent at the time required
pursuant to the Credit Agreement, then the Applicable Margin shall be the highest Applicable Margin
set forth in the foregoing table until five days after such Financials are so delivered.

 

89

 

EXHIBIT B

JOINDER AGREEMENT

THIS JOINDER AGREEMENT, dated as of                                         ,                     , is entered
into by
[                                        ]
(the “Subsidiary”) pursuant to the Credit Agreement dated as of
September 28, 2009 (as amended or modified from time to time, the “Credit Agreement”), among Kelly
Services, Inc. (the “Company”), the Foreign Subsidiary Borrowers party thereto, the Lenders party
thereto and JPMorgan Chase Bank, N.A., as Agent and as LC Issuer.

WITNESSETH:

WHEREAS, the parties to this Joinder Agreement wish to designate the Subsidiary as a Foreign
Subsidiary Borrower under the Credit Agreement in the manner hereinafter set forth; and

WHEREAS, this Joinder Agreement is entered into pursuant to the Credit Agreement;

NOW, THEREFORE, in consideration of the premises, the parties hereto hereby agree as follows:

1. The Subsidiary hereby acknowledges that it has received and reviewed a copy of the Credit
Agreement and the other Loan Documents and unconditionally agrees to: (a) join the Credit
Agreement and the other Loan Documents as a Foreign Subsidiary Borrower, (b) be bound by, and
hereby ratifies and confirms, all covenants, agreements, consents, submissions, appointments,
acknowledgments and other terms and provisions attributable to a Foreign Subsidiary Borrower in the
Credit Agreement and the other Loan Documents; and (c) perform all obligations required of it as a
Foreign Subsidiary Borrower by the Credit Agreement and the other Loan Documents.

2. The Subsidiary hereby represents and warrants that the representations and warranties with
respect to it contained in Article V of the Agreement are true and correct in all material respects
on the date hereof other than representation and warranties made as of an express date, which shall
be true and correct in all material respects as of such express date.

3. The address and jurisdiction of incorporation of the Subsidiary is set forth in Schedule A
to this Joinder Agreement.

4. The Company agrees that its guarantee contained in Article VIII of the Credit Agreement
shall remain in full force and effect after giving effect to this Joinder Agreement, including
without limitation after including the Subsidiary as a Foreign Subsidiary Borrower under the Credit
Agreement.

5. This Joinder Agreement shall be governed by, and construed and interpreted in accordance
with, the laws of the State of Michigan.

6. Capitalized terms used but not defined herein shall have the meanings ascribed thereto in
the Credit Agreement.

7. This Joinder Agreement may be executed in any number of counterparts, all of which taken
together shall constitute one agreement.

 

90

 

IN WITNESS WHEREOF, each of the undersigned has caused this Joinder Agreement to be duly
executed and delivered as of the day and year set forth above.

	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	as a Foreign Subsidiary Borrower	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: 

	 	 
	 

	 	 	 	Title: 

	 	 
	 
	 	 	 	 	 	 
	 	 	KELLY SERVICES, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name: 

	 	 
	 

	 	 	 	Title: 

	 	 

Accepted and Acknowledged:

JPMORGAN CHASE BANK, N.A., as Agent

	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name: 

	 	 
	 

	 	Title: 

	 	 

 

91

 

SCHEDULE A

ADMINISTRATIVE INFORMATION

 

92

 

EXHIBIT C

REVOLVING CREDIT NOTE

			
	$                                        
	 	                                        ,                     

                                         (“Company”), unconditionally promises to pay to the order of
                     (“Lender”) on or before the Facility Termination Date (as defined in the Loan
Agreement hereinafter referred to) for the account of its applicable Lending Installation the
principal sum of                                          (                    ) or the aggregate unpaid principal amount of all
Revolving Credit Loans made by the Lender to the Company pursuant to the Credit Agreement whichever
is less, in immediate available funds at the Lending Installation of JPMorgan Chase Bank, N.A., the
Agent, designated by the Agent for the Company, together with interest on the unpaid principal
amount hereof at the rates and on the dates set forth in the Credit Agreement.

The Lender shall, and is hereby authorized to, record in accordance with its usual practice,
the date and amount of each Revolving Credit Loan, the date and amount of each principal payment
and the date to which payment of this Note has been extended, provided, however, that failure to do
so shall not affect the Company’s obligation to pay amounts due hereunder.

The Company expressly waives any presentments, demand, protest or notice in connection with
this Revolving Credit Note now, or hereafter, required by applicable law.

This Revolving Credit Note is one of the Revolving Credit Notes issued pursuant to the
provisions of the Credit Agreement dated as of September 28, 2009 among the Company, the Foreign
Subsidiary Borrowers, the Lenders party thereto, the LC Issuer and JPMorgan Chase Bank, N.A., as
Agent, as it may be amended from time to time (the “Credit Agreement”), to which Credit Agreement
reference is hereby made for a statement of the terms and conditions under which this Revolving
Credit Note may be prepaid or its maturity date extended or accelerated.

The Revolving Credit Note shall be construed in accordance with and governed by the laws of
Michigan applicable to contracts made and performed in Michigan by a Michigan borrower and a
national banking association, as lender.

	 	 	 	 	 	 	 
	 	 	 
	 

	 	By:	 	 	 	 
	 
	 	 	 
	 
	 	 	Title:	 	 	 
	 

	 	 	 	 	 	 

 

93

 

EXHIBIT D

NOTICE OF DRAWDOWN

	 	 	 
	From:  

	 	[Borrower]
	 
	 	 
	To:

	 	JPMorgan Chase Bank, N.A., as Agent

Dated:  

Dear Sirs:

1. We refer to the Credit Agreement (the “Credit Agreement”) dated as of September 28, 2009
and made between Kelly Services, Inc. and certain Foreign Subsidiary Borrowers named therein, as
borrowers, JPMorgan Chase Bank, N.A., as agent and LC Issuer and the financial institutions named
therein as lenders. Terms defined in the Credit Agreement shall have the same meaning in this
notice.

2. This notice is irrevocable.

3. We hereby give you notice that, pursuant to the Credit Agreement and upon the terms and
subject to the conditions contained therein, we wish an Advance to be made to us or an existing
Advance to be continued as follows:

(a) Currency and Amount:

(b) Borrowing Date:

(c) Initial Interest Period:

4. If it is not possible, pursuant to Clause 2.3(c) of the Credit Agreement, for the Advance
to be made in the currency specified, we would wish [the Advance to be denominated in [insert
requested currency]][that the Advance not be made].

5. The proceeds of this drawdown should be credited to [insert account details].

	 	 	 	 	 
	 

	 	Yours faithfully,	 	 
	 
	 	 	 	 
	 

	 	 

Authorized Signatory
	 	 
	 

	 	for and on behalf of [Name of Borrower]	 	 

 

94

 

EXHIBIT F

COMPLIANCE CERTIFICATE

	 	 	 
	To:

	 	The Agent and the Lenders parties to the
	 

	 	Credit Agreement Described Below

This Compliance Certificate is furnished pursuant to that certain Credit Agreement dated as of
September 28, 2009 (as amended, modified, renewed or extended from time to time, the “Agreement”)
among Kelly Services, Inc. (the “Company “), the Foreign Subsidiary Borrowers, the Lenders party
thereto, and JPMorgan Chase Bank, N.A., as Agent for the Lenders and LC Issuer. Unless otherwise
defined herein, capitalized terms used in this Compliance Certificate have the meanings ascribed
thereto in the Agreement.

THE UNDERSIGNED HEREBY CERTIFIES THAT:

1. I am the duly elected                                          of the Company;

2. I have reviewed the terms of the Agreement and I have made, or have caused to be made under
my supervision, a detailed review of the transactions and conditions of the Company and its
Subsidiaries during the accounting period covered by the attached financial statements;

3. The examinations described in paragraph 2 did not disclose, and I have no knowledge of, the
existence of any condition or event which constitutes a Default or Unmatured Default during or at
the end of the accounting period covered by the attached financial statements or as of the date of
this Certificate, except as set forth below; and

4. Schedule I attached hereto sets forth financial data and computations evidencing the
Company’s compliance with certain covenants of the Agreement, all of which data and computations
are true, complete and correct.

5. Schedule II attached hereto sets forth the determination of the Applicable Margin, the LC
Fees and Facility Fees to be applicable commencing the fifth day following the delivery hereof.

6. Schedule III attached hereto sets forth the various reports and deliveries which are
required under the Credit Agreement.

Described below are the exceptions, if any, to paragraph 3 by listing, in detail, the nature
of the condition or event, the period during which it has existed and the action which the Borrower
has taken, is taking, or proposes to take with respect to each such condition or event:

	 	 	 	 

	 	 	 	 

	 	 	 	 

 

95

 

The foregoing certifications, together with the computations set forth in Schedule I and
Schedule II hereto and the financial statements delivered with this Certificate in support hereof,
are made and delivered this _____ day of
                               ,
_____.

	 	 	 	 	 	 	 
	 	 	KELLY SERVICES, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 		 	Its: 

	 	 

 

96

 

SCHEDULE I TO COMPLIANCE CERTIFICATE

Compliance as of                                         ,                      with

Provisions of 6.19 of the Agreement

 

97

 

SCHEDULE II TO COMPLIANCE CERTIFICATE

Rate Determination

 

98

 

SCHEDULE III TO COMPLIANCE CERTIFICATE

Reports and Deliveries

 

99

 

EXHIBIT G

ASSIGNMENT AGREEMENT

This Assignment Agreement (this “Assignment Agreement”) between                                          (the “Assignor”)
and                                          (the “Assignee”) is dated as of
                                        ,                     .
The parties hereto agree as follows:

1. PRELIMINARY STATEMENT. The Assignor is a party to a Credit Agreement (which, as it
may be amended, modified, renewed or extended from time to time, is herein called the “Credit
Agreement”) described in Item 1 of Schedule 1 attached hereto (“Schedule 1”). Capitalized terms
used herein and not otherwise defined herein shall have the meanings attributed to them in the
Credit Agreement.

2. ASSIGNMENT AND ASSUMPTION. The Assignor hereby sells and assigns to the Assignee,
and the Assignee hereby purchases and assumes from the Assignor, an interest in and to the
Assignor’s rights and obligations under the Credit Agreement such that after giving effect to such
assignment the Assignee shall have purchased pursuant to this Assignment Agreement the percentage
interest specified in Item 3 of Schedule 1 of all outstanding rights and obligations under the
Credit Agreement relating to the facilities listed in Item 3 of Schedule 1 and the other Loan
Documents. The aggregate Commitments (or Outstanding Credit Exposure if the applicable Commitments
have been terminated) purchased by the Assignee hereunder is set forth in Item 4 of Schedule 1.

3. EFFECTIVE DATE. The effective date of this Assignment Agreement (the “Effective
Date”) shall be the later of the date specified in Item 5 of Schedule 1 or two Business Days (or
such shorter period agreed to by the Agent) after a Notice of Assignment substantially in the form
of Exhibit “I” attached hereto has been delivered to the Agent. Such Notice of Assignment must
include any consents required to be delivered to the Agent by Section 13.3(a) of the Credit
Agreement. In no event will the Effective Date occur if the payments required to be made by the
Assignee to the Assignor on the Effective Date under Section 4 hereof are not made on the proposed
Effective Date. The Assignor will notify the Assignee of the proposed Effective Date no later than
the Business Day prior to the proposed Effective Date. As of the Effective Date, (i) the Assignee
shall have the rights and obligations of a Lender under the Loan Documents with respect to the
rights and obligations assigned to the Assignee hereunder and (ii) the Assignor shall relinquish
its rights and be released from its corresponding obligations under the Loan Documents with respect
to the rights and obligations assigned to the Assignee hereunder.

4. PAYMENTS OBLIGATIONS. In consideration for the sale and assignment of Outstanding
Credit Exposure hereunder, the Assignee shall pay the Assignor, on the Effective Date, the amount
agreed to by the Assignor and the Assignee. On and after the Effective Date, the Assignee shall be
entitled to receive all payments of principal, interest, Reimbursement Obligations and fees with
respect to the interest assigned hereby. The Assignee will promptly remit to the Assignor any
interest on Loans and fees received from the Agent which relate to the portion of the Commitment or
Outstanding Credit Exposure assigned to the Assignee hereunder and not previously paid by the
Assignee to the Assignor. In the event that either party hereto receives any payment to which the
other party hereto is entitled under this Assignment Agreement, then the party receiving such
amount shall promptly remit it to the other party hereto.

 

100

 

5. [INTENTIONALLY RESERVED].

6. REPRESENTATIONS OF THE ASSIGNOR, LIMITATIONS ON THE ASSIGNOR’S LIABILITY. The
Assignor represents and warrants that it is the legal and beneficial owner of the interest being
assigned by it hereunder and that such interest is free and clear of any adverse claim created by
the Assignor. It is understood and agreed that the assignment and assumption hereunder are made
without recourse to the Assignor and that the Assignor makes no other representation or warranty of
any kind to the Assignee. Neither the Assignor nor any of its officers, directors, employees,
agents or attorneys shall be responsible for (i) the due execution, legality, validity,
enforceability, genuineness, sufficiency or collectability of any Loan Document including without
limitation, documents granting the Assignor and the other Lenders a security interest in assets of
the Company, any Foreign Subsidiary Borrower or any Guarantor, (ii) any representation, warranty or
statement made in or in connection with any of the Loan Documents, (iii) the financial condition or
creditworthiness of the Company, any Foreign Subsidiary Borrower or any Guarantor, (iv) the
performance of or compliance with any of the terms or provisions of any of the Loan Documents, (v)
inspecting any of the Property, books or records of the Company, any Foreign Subsidiary Borrower or
any Guarantor, or (vi) any mistake, error of judgment or action taken or omitted to be taken in
connection with the Loans or the Loan Documents.

7. REPRESENTATIONS OF THE ASSIGNEE. The Assignee (i) confirms that it has received a
copy of the Credit Agreement together with copies of the financial statements requested by the
Assignee and such other documents and information as it has deemed appropriate to make its own
credit analysis and decision to enter into this Assignment Agreement, (ii) agrees that it will,
independently and without reliance upon the Agent, the Assignor or any other Lender and based on
such documents and information as it shall deem appropriate at the time, continue to make its own
credit decisions in taking or not taking action under the Loan Documents, (iii) appoints and
authorizes the Agent to take such action as its contractual representative on its behalf and to
exercise such powers under the Loan Documents as are delegated to the Agent by the terms thereof,
together with such powers as are reasonably incidental thereto, (iv) agrees that it will perform in
accordance with their terms all of the obligations which by the terms of the Loan Documents are
required to be performed by it as a Lender, (v) agrees that its payment instructions and notice
instructions are as set forth in the attachment to Schedule 1, (vi) confirms that none of the
funds, monies, assets or other consideration being used to make the purchase and assumption
hereunder are “plan assets” as defined under ERISA and that its rights, benefits and interests in
and under the Loan Documents will not be “plan assets” under ERISA, and (vii) attaches the forms or
other documentation required of the Assignee as a “Lender” pursuant to Section 3.6 of the Credit
Agreement with respect to all Commitments assigned hereunder.

8. INDEMNITY. The Assignee agrees to indemnify and hold the Assignor harmless against
any and all losses, costs and expenses (including, without limitation, reasonable attorneys’ fees)
and liabilities incurred by the Assignor in connection with or arising in any manner from the
Assignee’s nonperformance of the obligations assumed under this Assignment Agreement.

9. SUBSEQUENT ASSIGNMENTS. After the Effective Date, the Assignee shall have the
right pursuant to Section 13.3(a) of the Credit Agreement to assign the rights which are assigned
to the Assignee hereunder to any entity or person, provided that (i) any such subsequent assignment
does not violate any of the terms and conditions of the Loan Documents or any law, rule,
regulation, order, writ, judgment, injunction or decree and that any consent required under the
terms of the Loan Documents has been obtained and (ii) unless the prior written consent of the
Assignor is obtained, the Assignee is not thereby released from its obligations to the Assignor
hereunder, if any remain unsatisfied, including, without limitation, its obligations under Sections
4 and 8 hereof.

 

101

 

10. REDUCTIONS OF AGGREGATE COMMITMENTS. If any reduction in the Commitments occurs
between the date of this Assignment Agreement and the Effective Date, the percentage interest
specified in Item 3 of Schedule 1 shall remain the same, but the dollar amount purchased shall be
recalculated based on the reduced Commitments.

11. ENTIRE AGREEMENT. This Assignment Agreement and the attached Notice of Assignment
embody the entire agreement and understanding between the parties hereto and supersede all prior
agreements and understandings between the parties hereto relating to the subject matter hereof.

12. GOVERNING LAW. This Assignment Agreement shall be governed by the internal law,
and not the law of conflicts, of the State of Michigan.

13. NOTICES. Notices shall be given under this Assignment Agreement in the manner set
forth in the Credit Agreement. For the purpose hereof, the addresses of the parties hereto (until
notice of a change is delivered) shall be the address set forth in the attachment to Schedule 1.

IN WITNESS WHEREOF, the parties hereto have executed this Assignment Agreement by their duly
authorized officers as of the date first above written.

	 	 	 	 	 
	 	 	[NAME OF ASSIGNOR]
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Title: 

	 
	 	 	 	 
	 	 	 	 	 

	 
	 	 	 	 
	 	 	 	 	 

	 
	 	 	 	 
	 	 	[NAME OF ASSIGNEE]
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Title: 

	 
	 	 	 	 
	 	 	 	 	 

	 
	 	 	 	 
	 	 	 	 	 

 

102

 

SCHEDULE 1

to Assignment Agreement

	1.	 	Description and Date of Credit Agreement: Credit Agreement dated as of September 28, 2009
among Kelly Services, Inc., the Foreign Subsidiary Borrowers, the Lenders party thereto, and
JPMorgan Chase Bank, N.A., as Agent:

	2.	 	Date of Assignment Agreement:                                         ,                     

	3.	 	Amounts (As of Date of Item 2 above):

	 	 	 	 	 	 	 	 	 
	 	 	Revolving Credit	 	 	Alternate Currency	 
	 	 	Facility	 	 	Facility	 
	a. Total of
Commitments (Credit
Exposure)* under
Credit Agreement
	 	$	 	 	 	$	 	 
	 	 	 	 	 	 	 
	b. Assignee’s
Percentage
purchased under the
Assignment
Agreement
	 	 	 	%	 	 	 	%
	 	 	 	 	 	 	 
	c. Amount of Assigned
Share purchased
under the
Assignment
Agreement
	 	$	 	 	 	$	 	 
	 	 	 	 	 	 	 
	 
	4.      Assignee’s Aggregate (Credit Exposure)*

Commitment Amount Purchased Hereunder:
	 	$	 	 	 	 	 	 
	 	 	 	 	 	 	 

	5.	 	Proposed Effective Date:                                         

 

103

 

Accepted and Agreed:

	 	 	 	 	 	 	 	 	 
	[NAME OF ASSIGNOR]	 	 	 	[NAME OF ASSIGNEE]
	 
	 	 	 	 	 	 	 	 
	By:

	 	 	 	 	 	By:	 	 
	 

	 	 
	 	 	 	 	 	 
	 

	 	Title: 

	 	 	 	 	 	Title: 

	 	 	 
	*	 	If a Commitment has been terminated, insert Outstanding Credit Exposure in place of
Commitment.

 

104

 

Attachment to SCHEDULE 1 to ASSIGNMENT AGREEMENT

Attach Assignor’s Administrative Information Sheet, which must

include notice address for the Assignor and the Assignee

 

105

 

EXHIBIT “I”

TO ASSIGNMENT AGREEMENT

NOTICE

OF ASSIGNMENT

			
	 
	 	                                        ,                     

	 	 	 
	To:

	 	KELLY SERVICES, INC. AND THE FOREIGN SUBSIDIARY BORROWERS
	 
	 	 
	 

	 	JPMORGAN CHASE BANK, N.A., as Agent and LC Issuer
	 
	 	 
	From:

	 	[NAME OF ASSIGNOR] (the “Assignor”)
	 

	 	[NAME OF ASSIGNEE] (the “Assignee”)

1. We refer to that Credit Agreement (the “Credit Agreement”) described in Item 1 of Schedule
1 attached hereto (“Schedule 1”). Capitalized terms used herein and not otherwise defined herein
shall have the meanings attributed to them in the Credit Agreement.

2. This Notice of Assignment (this “Notice”) is given and delivered to the Agent pursuant to
Section 13.3(b) of the Credit Agreement.

3. The Assignor and the Assignee have entered into an Assignment Agreement, dated as of
                                        ,
                     (the “Assignment”), pursuant to which, among other things, the Assignor has
sold, assigned, delegated and transferred to the Assignee, and the Assignee has purchased, accepted
and assumed from the Assignor the percentage interest specified in Item 3 of Schedule 1 of all
outstandings, rights and obligations under the Credit Agreement relating to the facilities listed
in Item 3 of Schedule 1. The Effective Date of the Assignment shall be the later of the date
specified in Item 5 of Schedule 1 or two Business Days (or such shorter period as agreed to by the
Agent) after this Notice of Assignment and any consents and fees required by Sections 13.3(a) and
13.3(b) of the Credit Agreement have been delivered to the Agent, provided that the Effective Date
shall not occur if any condition precedent agreed to by the Assignor and the Assignee has not been
satisfied.

4. The Assignor and the Assignee hereby give to the Borrowers and the Agent notice of the
assignment and delegation referred to herein. The Assignor will confer with the Agent before the
date specified in Item 5 of Schedule 1 to determine if the Assignment Agreement will become
effective on such date pursuant to Section 3 hereof, and will confer with the Agent to determine
the Effective Date pursuant to Section 3 hereof if it occurs thereafter. The Assignor shall notify
the Agent if the Assignment Agreement does not become effective on any proposed Effective Date as a
result of the failure to satisfy the conditions precedent agreed to by the Assignor and the
Assignee. At the request of the Agent, the Assignor will give the Agent written confirmation of
the satisfaction of the conditions precedent.

5. The Assignor or the Assignee shall pay to the Agent on or before the Effective Date the
processing fee of $3,500 required by Section 13.3(b) of the Credit Agreement.

6. If Notes are outstanding on the Effective Date, the Assignor and the Assignee request and
direct that the Agent prepare and cause the Borrower to execute and deliver new Notes or, as
appropriate, replacements notes, to the Assignor and the Assignee. The Assignor and, if
applicable, the Assignee each
agree to deliver to the Agent the original Note received by it from the Borrower upon its
receipt of a new Note in the appropriate amount.

 

106

 

7. The Assignee advises the Agent that notice and payment instructions are set forth in the
attachment to Schedule 1.

8. The Assignee hereby represents and warrants that none of the funds, monies, assets or other
consideration being used to make the purchase pursuant to the Assignment are “plan assets” as
defined under ERISA and that its rights, benefits, and interests in and under the Loan Documents
will not be “plan assets” under ERISA.

9. The Assignee authorizes the Agent to act as its agent under the Loan Documents in
accordance with the terms thereof. The Assignee acknowledges that the Agent has no duty to supply
information with respect to any of the Borrowers or the Loan Documents to the Assignee until the
Assignee becomes a party to the Credit Agreement.*

	 	 	 
	*	 	May be eliminated if Assignee is a party to the Credit Agreement prior to the Effective Date.

	 	 	 	 	 	 	 	 	 
	NAME OF ASSIGNOR	 	 	 	NAME OF ASSIGNEE
	 
	 	 	 	 	 	 	 	 
	By:

	 	 	 	 	 	By:	 	 
	 

	 	 
	 	 	 	 	 	 
	 

	 	Title: 

	 	 	 	 	 	Title: 

	 
	 	 	 	 	 	 	 	 
	ACKNOWLEDGED AND CONSENTED TO BY:	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	JPMORGAN CHASE BANK, N.A., as Agent	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	By:
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	Title: 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	KELLY SERVICES, INC.	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	By:
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	Title: 

	 	 	 	 	 	 

[Attach photocopy of Schedule 1 to Assignment]

 

107

 

EXHIBIT H

ALTERNATE CURRENCY ADDENDUM

			
	To:	 	JPMorgan Chase Bank, N.A., as agent under the Credit Agreement described below (in
such capacity, the “Agent”) and the Alternate Currency Lenders listed below

			
	From:	 	Kelly Services, Inc. (the “Company”) and                                          (the “Subsidiary”)

1. This Alternate Currency Addendum (this “Addendum”) is being delivered to you pursuant to
the Credit Agreement, dated as of September 28, 2009 (as amended, supplemented or otherwise
modified from time to time, the “Credit Agreement”) among the Company, the Foreign Subsidiary
Borrowers parties thereto, the Lenders from time to time parties thereto and the Agent. Terms used
but not defined herein shall have the meanings ascribed thereto in the Credit Agreement.

2. The effective date (the “Effective Date”) of this Addendum will be
_____, _____.

3. The Company and the Subsidiary hereby request the Alternate Currency facility (the
“Facility”) described below, and acknowledge and agree that, as of the Effective Date and upon
acceptance by the Agent and each Alternate Currency Lender party hereto, this Addendum and the
Facility described below are hereby designated as an Alternate Currency Addendum for the purposes
of the Credit Agreement, and this Addendum and the borrowings made hereunder are subject in all
respects to the terms and provisions of the Credit Agreement except to the extent that the terms
and provisions of the Credit Agreement are modified by this Addendum.

	 	 	 
	Type of Facility
(the “Facility”):

	 	Revolving credit facility
	 
	 	 
	Additional Alternate Currency:

	 	                                         (or “                    ”)
	 
	 	 
	Facility maximum borrowing amount:

	 	                                        
	(the “Maximum Aggregate Alternate
	 	 
	Currency Amount”)
	 	 
	 
	 	 
	Alternate Currency Lenders and
Commitments:

	 	See Schedule 1
	 
	 	 
	Termination Date of Facility:

	 	                     (not later than the Facility Termination Date)

4. As used in this Addendum, the following terms shall have the meanings specified below:

“Alternate Currency Loan” shall mean any extension of credit, denominated in
_____ (or “_____”), made to the Subsidiary pursuant to
Section 2.1(b) of the Credit Agreement and this Addendum. An Alternate Currency
Loan shall bear interest at the rate per annum which is the sum of the (i) the quotient of
(a) Eurocurrency Reference Rate on the Quotation Date thereof, or at such other rate as may
be specified in Schedule 2 and (b) one minus the Reserve Requirement (expressed as a
decimal) applicable to the relevant Interest Period, plus
(ii) the Applicable Margin, plus (iii) for Loans booked in Pounds Sterling, the Associated
Costs Rate.

 

108

 

5. Any modifications to the Interest Payment Dates, Interest Periods, interest rates and any
other special provisions applicable to Alternate Currency Loans under this Addendum are set forth
on Schedule 2. If Schedule 2 states “None” with respect to any item listed
thereon, then the corresponding provisions of the Credit Agreement, without modification, shall
govern this Addendum and the Alternate Currency Loans made pursuant to this Addendum.

6. Any special borrowing procedures or funding arrangements for Alternate Currency Loans under
this Addendum, any provisions for the issuance of promissory notes to evidence the Alternate
Currency Loans made hereunder and any additional information requirements applicable to Alternate
Currency Loans under this Addendum are set forth on Schedule 3. If no such special
procedures, funding arrangements, provisions or additional requirements are set forth on
Schedule 3, then the corresponding procedures, funding arrangements, provisions and
information requirements set forth in the Credit Agreement shall govern this Addendum.

7. The Subsidiary may permanently reduce the Alternate Currency Commitments under this
Addendum in whole, or in part ratably among the Alternate Currency Lenders, in an aggregate minimum
amounts of _____ and integral multiples of _____ in excess thereof upon at
least three (3) Business Days’ written notice to the Agent, which notice shall be given not later
than 10:00 a.m. (Chicago time) and shall specify the amount of such reduction; provided,
however, that the amount of the Alternate Currency Commitments may not be reduced below the
aggregate principal amount of the outstanding Alternate Currency Loans with respect thereto. Any
reduction in the Alternate Currency Commitments shall be an automatic reduction of the Maximum
Aggregate Alternate Currency Amount. Any such reduction shall be allocated pro rata among all the
Alternate Currency Lenders party to this Addendum by reference to their Alternate Currency Shares.

8. (a) This Addendum (including the Schedules hereto) may not be amended without the prior
written consent of the Agent and Alternate Currency Lenders representing not less than 51% of the
Alternate Currency Shares hereunder, but subject to the provisions of Section 8.2 of the
Credit Agreement as applied to the Alternate Currency Lenders as to matters related to this
Addendum; provided, however, that this Section 8 shall not restrict
assignments pursuant to Section 9.

(b) This Addendum may not be terminated without the prior written consent of each Alternate
Currency Lender party hereto unless there are no Alternate Currency Loans outstanding hereunder, in
which case no such consent shall be required; provided, however that this Addendum
shall terminate on the date that the Credit Agreement terminates in accordance with its terms.

9. Section 13.3 of the Credit Agreement shall apply to assignments by Alternate
Currency Lenders of obligations, Commitments and Loans hereunder; provided,
however, that an Alternate Currency Lender may not assign any obligations, Commitments or
rights hereunder to any Person who is not (or does not simultaneously become) a Lender under the
Credit Agreement.

 

109

 

10. Notices and other communications provided for herein shall be in writing and shall be
delivered by hand or overnight courier service, mailed by certified or registered mail or sent by
telecopy, as follows:

	 	(a)	 	if to the Subsidiary under this Addendum, to it at:

	 	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	Attention:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Telephone:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Facsimile:	 	 	 	 
	 

	 	 	 	 	 	 

	 	(b)	 	if to the Agent, to it at:

	 	 	 	JPMorgan Chase Bank, N.A.

	 	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	Attention:	 	 	 	 
	 

	 	Title:
	 	 

	 	 
	 

	 	Telephone:
	 	 

	 	 
	 

	 	Facsimile:
	 	 

	 	 
	 

	 	 	 	 

	 	 

in any case with a copy to the Agent at its address or telecopy number referenced in
Section 14.1 of the Credit Agreement, and

(c) if to an Alternate Currency Lender, to it at its address (or telecopy number) set forth in
Schedule 1 or in the Assignment and Acceptance pursuant to which such Alternate Currency
Lender became a party hereto.

All notices and other communications given to any party hereto in accordance with the
provisions of this Agreement shall be deemed to have been given on the date of receipt if delivered
by hand or overnight courier service or sent by telecopy to such party as provided in this Section
or in accordance with the latest unrevoked direction from such party given in accordance with this
Section.

11. Each Alternate Currency Lender agrees that if it shall, through the exercise of a right of
banker’s lien, setoff or counterclaim, or pursuant to a secured claim under Section 506 of Title II
of the United States Code or any other security or interest arising from, or in lieu of, such
secured claim, received by such Alternate Currency Lender under any applicable bankruptcy,
insolvency or other similar law or otherwise, or by similar means, obtain payment (voluntary or
involuntary) of any Alternate Currency Loan or Loans as a result of which the unpaid principal
portion of the Alternate Currency Loans of such Alternate Currency Lender shall be proportionately
less than the unpaid principal portion of the Alternate Currency Loans of any other Alternate
Currency Lender it shall be deemed simultaneously to have purchased from such other Alternate
Currency Lender at face value, and shall promptly pay to such other Alternate Currency Lender the
purchase price for, a participation in the Alternate Currency Loans of such other Alternate
Currency Lender, so that the aggregate unpaid principal amount of the Alternate Currency Loans and
participations in the Alternate Currency Loans held by each Alternate Currency Lender shall be in
the same proportion to the aggregate unpaid principal amount of all Alternate Currency Loans then
outstanding as the principal amount of its Alternate Currency Loans prior to such exercise of
banker’s lien, setoff or counterclaim or other event was to the principal amount of all Alternate
Currency Loans outstanding prior to such exercise of banker’s lien, setoff or counterclaim or other
event; provided, however, that if any such purchase or purchases or adjustments
shall be made pursuant to this Section 11 and the payment giving rise thereto shall
thereafter be recovered, such purchase or purchases or adjustments shall be rescinded to the extent
of such recovery and the purchase price or prices or
adjustment restored without interest. Each Borrower party to this Addendum expressly consents
to the foregoing arrangements and agrees that any Alternate Currency Lender holding a participation
in an Alternate Currency Loan deemed to have been so purchased may exercise any and all rights of
banker’s lien, setoff or counterclaim. With respect to any and all moneys owing by such Subsidiary
to such Alternate Currency Lender by reason thereof as fully as if such Alternate Currency Lender
had made an Alternate Currency Loan directly to such Borrower in the amount of such participation.

 

110

 

12. THE AGENT ACCEPTS THIS ADDENDUM, ON BEHALF OF ITSELF AND THE LENDERS, AT DETROIT, MICHIGAN
BY ACKNOWLEDGING AND AGREEING TO IT THERE. THIS ADDENDUM SHALL BE GOVERNED BY AND INTERPRETED AND
ENFORCED IN ACCORDANCE WITH THE INTERNAL LAWS (WITHOUT REGARD TO THE CONFLICTS OF LAWS PROVISIONS)
OF THE STATE OF MICHIGAN. WITHOUT LIMITING THE FOREGOING, ANY DISPUTE BETWEEN THE COMPANY OR THE
SUBSIDIARY OR ANY GUARANTOR AND THE AGENT OR ANY ALTERNATE CURRENCY LENDER ARISING OUT OF,
CONNECTED WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED BETWEEN THEM IN
CONNECTION WITH THIS ADDENDUM OR ANY OF THE OTHER LOAN DOCUMENTS, AND WHETHER ARISING IN CONTRACT,
TORT, EQUITY, OR OTHERWISE, SHALL BE RESOLVED IN ACCORDANCE WITH THE INTERNAL LAWS (WITHOUT REGARD
TO THE CONFLICTS OF LAWS PROVISIONS) OF THE STATE OF MICHIGAN.

13. JPMorgan Chase Bank, N.A. designates
 _____ 
as its agent and as its
Applicable Lending Installation to perform its functions under this Addendum as Agent, and it is
acknowledged and agreed that
 _____ 
and such Lending Installation have all of the
rights, indemnifications, exculpations and other applicable terms and provisions as provided to the
Agent under the Credit Agreement.

14. The Company and the Subsidiary each hereby represent and warrant that the Facility
complies in all respects with the requirements of the Credit Agreement and, except to extent
expressly provided herein to the contrary, the Facility shall be subject to the applicable
provisions of the Credit Agreement.

15. The Company and the Subsidiary have executed the Joinder Agreement in the form attached
hereto as Schedule 4.

16. The Company and the Subsidiary hereby agree to be bound by all of the applicable terms and
provisions of this Addendum, and ratify and confirm the Credit Agreement and all other Loan
Documents.

 

111

 

	 	 	 	 	 
	 	KELLY SERVICES, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

	 	 	 	 	 
	 	[SUBSIDIARY]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

	 	 	 	 	 
	 	Accepted and agreed to by:

JPMORGAN CHASE BANK, N.A., as Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[Alternate Currency Lenders]

 	 

 

112

 

	 	 	 	 	 

SCHEDULE 1

TO

ALTERNATE CURRENCY ADDENDUM

FOR
                                        

	 	 	 
	Name of Alternate Currency Lender

	 	Alternate Currency Commitment of Such Lender
	 

	 	 

 

113

 

SCHEDULE 2

TO

ALTERNATE CURRENCY ADDENDUM

FOR
                                        

MODIFICATIONS

	1.	 	Business Day Definition:

	 
	 	 	“Business Day” shall mean a day (other than a Saturday or Sunday) on which banks are
open for the full range of banking business in [insert local jurisdiction].

	 
	2.	 	Interest Payment Dates: None

	 
	3.	 	Interest Periods: None

	 
	4.	 	Interest Rates: None

	 
	5.	 	Modifications to Interest Period Selection/Conversion: None

	 
	6.	 	Other:

	 
	 	 	Termination Date for Addendum:                      (not later than the Facility Termination Date)

	 
	 	 	Maximum Number of Interest Periods:                                          (                    )

	 
	7.	 	Condition Precedent to Initial Alternate Currency Loan: Prior to the initial Alternate
Currency Loan under this Addendum, the Subsidiary shall provide the Agent with a copy
of the Subsidiary’s authorized signatory list, a certified copy of the board minutes
authorizing the Subsidiary and the signatory to enter into this Addendum and all
transactions related hereto and such other information as reasonably requested by the
Agent related to such matters.

 

114

 

SCHEDULE 3

TO

ALTERNATE CURRENCY ADDENDUM

FOR
                                        

OTHER PROVISIONS

	1.	 	Borrowing Procedures: Notice of Borrowing shall be given by the Subsidiary not later
than 10:00 a.m. (                     time) three Business Days prior to the date of the proposed

borrowing of any Alternate Currency Loan.

	 
	2.	 	Funding Arrangement:

	 
	 	 	Minimum amounts/increments for Alternate Currency Loans, repayments and
prepayments: Minimum amount of                                          with increments of
                                        
(such minimum amounts to be negotiated between the Subsidiary and
the Alternate Currency Lenders provided that such amounts shall not be greater than the
minimum amounts set forth in Section 2.3(b) of the Credit Agreement).

	 
	3.	 	Promissory Notes: None required.

	 
	4.	 	Information Requirements: None.

 

115

 

SCHEDULE 4

TO

ALTERNATE CURRENCY ADDENDUM

FOR
THE                                          
BORROWING SUBSIDIARY

JOINDER AGREEMENT

[See Exhibit B to Credit Agreement]

 

116

 

SCHEDULE 1.1(A)

COMMITMENTS

	 	 	 	 	 	 	 	 	 
	COMMITMENTS	 
	Lender	 	Commitment	 	 	Pro Rata Share	 
	JPMorgan Chase Bank, N.A.
	 	$	25,000,000	 	 	 	27.778	%
	PNC Bank, National Association
	 	$	20,000,000	 	 	 	22.222	%
	Comerica Bank
	 	$	15,000,000	 	 	 	16.667	%
	U.S. Bank National Association
	 	$	10,000,000	 	 	 	11.111	%
	Royal Bank of Canada
	 	$	10,000,000	 	 	 	11.111	%
	Bank of America, N.A.
	 	$	10,000,000	 	 	 	11.111	%
	 	 	 	 	 	 	 
	Aggregate Commitments
	 	$	90,000,000	 	 	 	100	%
	 	 	 	 	 	 	 

 

117

 

SCHEDULE 1.1(A) (CONT’D.)

COMMITMENTS

	 	 	 	 	 	 	 	 	 
	REVOLVING CREDIT COMMITMENTS	 
	Lender	 	Revolving Credit 
Commitment	 	 	Pro Rata Share	 
	JPMorgan Chase Bank, N.A.
	 	$	25,000,000	 	 	 	27.778	%
	PNC Bank, National Association
	 	$	20,000,000	 	 	 	22.222	%
	Comerica Bank
	 	$	15,000,000	 	 	 	16.667	%
	U.S. Bank National Association
	 	$	10,000,000	 	 	 	11.111	%
	Royal Bank of Canada
	 	$	10,000,000	 	 	 	11.111	%
	Bank of America, N.A.
	 	$	10,000,000	 	 	 	11.111	%
	 	 	 	 	 	 	 
	Aggregate Revolving Credit
Commitments
	 	$	90,000,000	 	 	 	100	%
	 	 	 	 	 	 	 

 

118

 

SCHEDULE 1.1(A) (CONT’D.)

COMMITMENTS

	 	 	 	 	 	 	 	 	 	 	 	 	 
	ALTERNATE CURRENCY COMMITMENTS	 
	 	 	 	 	 	 	Alternate Currency	 	 	 	 
	Lender	 	Currency	 	 	Commitment	 	 	Pro Rata Share	 
	 
	 	 	 	 	 	$	0	 	 	 	 	 

September 28, 2009

 

119

 

Schedule 1.1(b)

Foreign Subsidiary Borrowers

None

September 28, 2009

 

120

 

Schedule 1.1(c)

Inactive Subsidiaries

Kelly Management Services, Inc., a Delaware corporation

KellySelect, Inc., a Delaware corporation

KellyGuard Security Services, Inc., a Michigan corporation

September 28, 2009

 

121

 

SCHEDULE 2.16

SWING LINE LOAN NOTICE

Same Day Notice

United States Dollars

Pounds Sterling

Euro

Canadian Dollars

One Day Notice

Australian Dollars

Japanese Yen

Swiss Francs

Danish Krona

Norwegian Krona

Swedish Krona

New Zealand Dollars

 

122

 

SCHEDULE 5.7

LITIGATION AND CONTINGENT OBLIGATIONS

Except for what was disclosed in Kelly Services, Inc.’s latest 10Q filing, there is no additional
material litigation.

 

123

 

SCHEDULE 5.8

SUBSIDIARIES

 

124

 

SCHEDULE 6.12

EXISTING INDEBTEDNESS

 

125

 

SCHEDULE
6.13

EXISTING LIENS

 

126

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