Document:

FORM
OF WARRANT

       

      NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE
SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE HAVE BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES
LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED
(I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL
(WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN A FORM REASONABLY ACCEPTABLE
TO THE COMPANY, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS
SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT. NOTWITHSTANDING THE
FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN
ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES. THE
SECURITIES REPRESENTED BY THIS WARRANT AND, ACCORDINGLY, THE SECURITIES ISSUABLE
UPON EXERCISE HEREOF MAY BE LESS THAN THE AMOUNTS SET FORTH ON THE FACE
HEREOF.

       

      AEOLUS
PHARMACEUTICALS, INC.

       

      Warrant
To Purchase Common Stock

      

      Warrant
No.: ___

      Number of
Shares of Common Stock: ____

      Date of
Issuance: [·], 2010
(“Issuance
Date”)

      

      AEOLUS
PHARMACEUTICALS, INC., a Delaware corporation (the “Company”), hereby certifies
that, for good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, [     ], the registered holder
hereof or its permitted assigns (the “Holder”), is entitled, subject
to the terms set forth below, to purchase from the Company, at the Exercise
Price (as defined below) then in effect, upon surrender of this Warrant to
Purchase Common Stock (including any Warrants to Purchase Common Stock issued in
exchange, transfer or replacement hereof, the “Warrant”), at any time or
times on or after the date hereof but not after 11:59 p.m., New York time, on
the Expiration Date (as defined below), up to [    ]
(   ) fully paid and nonassessable shares of Common Stock (as
defined below) (as
may be adjusted pursuant to Section 2 or
4 hereof (the
“Warrant Shares”). This
Warrant is one of the Warrants to purchase Common Stock (as may be amended or
restated from time to time, the “SPA Warrants”) issued pursuant
to Section 1 of
that certain Securities Purchase Agreement (as may be amended or restated from
time to time, the “Securities
Purchase Agreement”), dated as of [·], 2010 (the “Subscription Date”), by and
among the Company, as issuer, and the investors listed on the Schedule of Buyers
attached thereto (the “Buyers”). Except as otherwise
defined herein, capitalized terms in this Warrant shall have the meanings set
forth in Section 15.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      1.           EXERCISE OF
WARRANT.

       

      (a)                       Mechanics of
Exercise.  Subject to the terms and conditions hereof
(including, without limitation, the limitations set forth in Section 1(f)),
this Warrant may be exercised by the Holder on any day on or after the date
hereof, in whole or in part, by (i) delivery of a written notice, in the
form attached hereto as Exhibit A (the “Exercise Notice”), of the
Holder’s election to exercise this Warrant and (ii) (A) payment to the
Company of an amount equal to the applicable Exercise Price multiplied by the
number of Warrant Shares as to which this Warrant is being exercised (the “Aggregate Exercise Price”) in
cash or by wire transfer of immediately available funds to an account designated
by the Company in writing on the Subscription Date (or to such other account
designated by the Company in writing by notice to the Holder thereafter) or (B)
by notifying the Company that this Warrant is being exercised pursuant to a
Cashless Exercise (as defined in Section 1(d)), provided that
such Cashless Exercise is permitted pursuant to the terms hereof. The Holder
shall not be required to deliver the original Warrant in order to effect an
exercise hereunder. Execution and delivery of the Exercise Notice with respect
to less than all of the Warrant Shares shall have the same effect as
cancellation of the original Warrant and issuance of a new Warrant evidencing
the right to purchase the remaining number of Warrant Shares. On or before the
second (2nd)
Business Day following the date on which the Company has received each of the
fully completed and executed Exercise Notice and the Aggregate Exercise Price
(unless such Exercise Notice indicates exercise pursuant to a Cashless Exercise
and Cashless Exercise is then permitted under the terms hereof) (the “Exercise Delivery Documents”),
the Company shall transmit by email or facsimile an acknowledgment of
confirmation of receipt of the Exercise Delivery Documents to the Holder and the
Company’s transfer agent (the “Transfer Agent”). On or before
the fifth (5th) Trading Day following the date on which the Company has received
all of the Exercise Delivery Documents, the Company shall (X) provided that the
Transfer Agent is participating in The Depository Trust Company (“DTC”) Fast Automated
Securities Transfer Program, upon the request of the Holder, credit such
aggregate number of Warrant Shares to which the Holder is entitled pursuant to
such exercise to the Holder’s or its designee’s balance account with DTC through
its Deposit Withdrawal Agent Commission system, or (Y) if the Transfer Agent is
not participating in the DTC Fast Automated Securities Transfer Program, issue
and dispatch by overnight courier to the address as specified in the Exercise
Notice, a certificate, registered in the Company’s share register in the name of
the Holder or its designee, for the number of shares of Common Stock to which
the Holder is entitled pursuant to such exercise. Upon receipt by the Company of
the Exercise Delivery Documents, the Holder shall be deemed for all corporate
purposes to have become the holder of record of the Warrant Shares with respect
to which this Warrant has been exercised, irrespective of the date such Warrant
Shares are credited to the Holder’s DTC account or the date of delivery of the
certificates evidencing such Warrant Shares, as the case may be. If this Warrant
is submitted in connection with any exercise pursuant to this Section 1(a) and
the number of Warrant Shares represented by this Warrant submitted for exercise
is greater than the number of Warrant Shares being acquired upon an exercise,
then the Company shall as soon as practicable and in no event later than five
(5) Business Days after any exercise (and the receipt of such Warrant) and at
its own expense, issue a new Warrant (in accordance with Section 8(d)) representing the
right to purchase the number of Warrant Shares purchasable immediately prior to
such exercise under this Warrant, less the number of Warrant Shares with respect
to which this Warrant is exercised. No fractional shares of Common Stock are to
be issued upon the exercise of this Warrant, but rather the number of shares of
Common Stock to be issued shall be rounded down to the nearest whole number. The
Company shall pay any and all transfer taxes which may be payable with respect
to the issuance and delivery of Warrant Shares upon exercise of this Warrant (for greater certainty not including any income taxes
or capital gains of the Holder or exercising holder or any liability of the
Company to withhold tax).

      
        
           

        

        
          -2-

          
            

          

        

        
           

        

      

      (b)                       Exercise
Price.  For purposes of this Warrant, “Exercise Price” means Fifty
Cents ($0.50), subject to adjustment as provided herein.

       

      (c)                       Company’s Failure to Timely
Deliver Securities.  If within five (5) Trading Days after the
Company’s receipt of the Delivery Documents the Company shall fail to issue and
deliver a certificate to the Holder and register such shares of Common Stock on
the Company’s share register or credit the Holder’s balance account with DTC for
the number of shares of Common Stock to which the Holder is entitled upon the
Holder’s exercise hereunder, and if on or after such Trading Day the Holder
purchases (in an open market transaction or otherwise) shares of Common Stock in
a good faith transaction with an unaffiliated third party (a “Good Faith Purchase”) to
deliver in satisfaction of a sale by the Holder of shares of Common Stock
issuable upon such exercise that the Holder is actually entitled to receive from
the Company, then the Company shall, within five (5) Business Days after the
Holder’s request and in the Holder’s discretion, and after Holder provides the
Company with written evidence of such Good Faith Purchase either (i) pay cash to
the Holder in an amount equal to the Holder’s total purchase price (including
documented brokerage commissions and other out-of-pocket expenses, if any) for
the shares of Common Stock so purchased (the “Buy-In Price”), at which
point the Company’s obligation to deliver such certificate (and to issue such
Common Stock) shall terminate, or (ii) promptly honor its obligation to deliver
to the Holder a certificate or certificates representing such Warrant Shares and
pay cash to the Holder in an amount equal to the excess (if any) of the Buy-In
Price over the product of (A) such number of shares of Common Stock, times
(B) the Weighted Average Price on the date of exercise.

       

      (d)                       Cashless
Exercise.  Notwithstanding anything contained herein to the
contrary, at any time and from time to time on or after the 180-day anniversary
of the Issuance Date, the Holder may, in its sole discretion, exercise this
Warrant in whole or in part and, in lieu of making the cash payment otherwise
contemplated to be made to the Company upon such exercise in payment of the
Aggregate Exercise Price, elect instead to receive upon such exercise the “Net
Number” of shares of Common Stock determined according to the following formula
(a “Cashless
Exercise”):

       

      Net Number = (A x B) - (A x
C)

      B

      

      For purposes of the foregoing
formula:

       

      
        
          	 	
                  A=

                	
                  the
      total number of shares with respect to which this Warrant is then being
      exercised.

                

        

      

       

      
        
           

        

        
          -3-

          
            

          

        

        
           

        

      

      
        
          	 	
                  B=

                	
                  the
      Weighted Average Price of the shares of Common Stock over the
      fifteen (15) consecutive Trading Day period ending on the fifth (5th)
      Trading Day immediately preceding the date the Exercise Notice is received
      by the Company (as reported by
Bloomberg).

                

        

      

       

      
        
          	 	
                  C=

                	
                  the
      Exercise Price then in effect for the applicable Warrant Shares at the
      time of such exercise.

                

        

      

      

      (e)                       Disputes. In the case
of a dispute as to the determination of the Exercise Price or the arithmetic
calculation of the Warrant Shares, the Company shall promptly issue to the
Holder the number of Warrant Shares that are not disputed and resolve such
dispute in accordance with Section 13.

       

      (f)                       Limitations on Exercises;
Beneficial Ownership.  Notwithstanding anything herein to the
contrary, the Company shall not effect the exercise of this Warrant, and the
Holder shall not have the right to exercise this Warrant, to the extent that
after giving effect to such exercise, such Person (together with such Person’s
Affiliates) would beneficially own in excess of 9.99% (as may be adjusted, the
“Maximum Percentage”) of
the shares of Common Stock outstanding immediately after giving effect to such
exercise. For purposes of the foregoing sentence, the aggregate number of shares
of Common Stock beneficially owned by such Person and its Affiliates shall
include the number of shares of Common Stock issuable upon exercise of this
Warrant with respect to which the determination of such sentence is being made,
but shall exclude shares of Common Stock which would be issuable upon (x)
exercise of the remaining, unexercised portion of this Warrant beneficially
owned by such Person and its Affiliates and (y) exercise or conversion of the
unexercised or unconverted portion of any other securities of the Company
beneficially owned by such Person and its Affiliates (including, without
limitation, any convertible notes or convertible preferred stock or warrants)
subject to a limitation on conversion or exercise analogous to the limitation
contained herein. Except as set forth in the preceding sentence, for purposes of
this paragraph, beneficial ownership shall be calculated in accordance with
Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). For purposes
of this Warrant, in determining the number of outstanding shares of Common
Stock, the Holder may rely on the number of outstanding shares of Common Stock
as reflected in (1) the Company’s most recent Annual Report on Form 10-K,
Quarterly Report on Form 10-Q, Current Report on Form 8-K or other public
filing with the Securities and Exchange Commission (“SEC”) as the case may be, (2)
a more recent public announcement by the Company or (3) any other notice by the
Company or the Transfer Agent setting forth the number of shares of Common Stock
outstanding. For any reason at any time, upon the written request of the Holder,
the Company shall within two (2) Business Days confirm in writing to the Holder
the number of shares of Common Stock then outstanding. In any case, the number
of outstanding shares of Common Stock shall be determined after giving effect to
the conversion or exercise of securities of the Company by the Holder and its
Affiliates since the date as of which such number of outstanding shares of
Common Stock was reported. By written notice to the Company, the Holder may from
time to time increase or decrease the Maximum Percentage to any other percentage
specified in such notice; provided that any
such increase will not be effective until the sixty-first (61st) day
after such notice is delivered to the Company.

      
        
           

        

        
          -4-

          
            

          

        

        
           

        

      

      (g)                       Insufficient Authorized
Shares.  If at any time while this Warrant remains outstanding
the Company does not have a sufficient number of authorized and unreserved
shares of Common Stock to satisfy its obligation to reserve for issuance upon
exercise of this Warrant at least a number of shares of Common Stock equal to
105% (the “Required Reserve
Amount”) of the number of shares of Common Stock as shall from time to
time be necessary to effect the exercise of all of this Warrant and the other
SPA Warrants then outstanding (an “Authorized Share Failure”),
then the Company shall immediately take all action necessary to increase the
Company’s authorized shares of Common Stock to an amount sufficient to allow the
Company to reserve the Required Reserve Amount for this Warrant then
outstanding. Without limiting the generality of the foregoing sentence, as soon
as practicable after the date of the occurrence of an Authorized Share Failure,
but in no event later than ninety (90) days after the occurrence of such
Authorized Share Failure, the Company shall hold a meeting of its stockholders
or otherwise obtain written consent from its stockholders without a meeting for
the approval of an increase in the number of authorized shares of Common Stock.
In connection with such meeting or written consent, the Company shall provide
each stockholder with a proxy statement or written information statement (which
such proxy or information statement shall include all of the information
specified in Schedule 14C in accordance with Rule 14c-2 promulgated
under the Exchange Act, in each case as may be amended or restated from time to
time), and shall use its best efforts to solicit its stockholders’ approval of
such increase in authorized shares of Common Stock and to cause its board of
directors to recommend to the stockholders that they approve such
proposal.

       

      2.           ADJUSTMENT OF EXERCISE PRICE
AND NUMBER OF WARRANT SHARES.  The Exercise Price and the
number of Warrant Shares shall be adjusted from time to time as
follows:

       

      (a)                       Adjustment upon Issuance of
shares of Common Stock. If and whenever the Company issues or sells,
or in accordance with this Section 2 is
deemed to have issued or sold, any shares of Common Stock (including the
issuance or sale of shares of Common Stock owned or held by or for the account
of the Company, but excluding shares of Common Stock issued or sold or deemed to
have been issued or sold by the Company in connection with any Excluded
Securities) for a consideration per share (the “Applicable Price”) less than
the Exercise Price in effect immediately prior to such issuance or sale or
deemed issuance or sale (the foregoing a “Dilutive Issuance”), then
immediately after such Dilutive Issuance, the Exercise Price in effect
immediately prior to such Dilutive Issuance shall be reduced to an amount equal
to the product of (A) the Exercise Price in effect immediately prior to such
Dilutive Issuance and (B) the quotient determined by dividing (1) the sum of (I)
the product derived by multiplying the lower of (x) the volume weighted average
Closing Sale Price for the ten (10) consecutive Trading Days immediately
preceding such Dilutive Issuance and (y) the Exercise Price in effect
immediately prior to such Dilutive Issuance (such lower amount, the “Adjustment Price”), by the
number of shares of Common Stock Deemed Outstanding immediately prior to such
Dilutive Issuance plus (II) the consideration, if any, received by the Company
upon such Dilutive Issuance, by (2) the product derived by multiplying (I) the
Adjustment Price by (II) the number of shares of Common Stock Deemed Outstanding
immediately after such Dilutive Issuance. Upon each such adjustment of the
Exercise Price pursuant to this Section 2(a), the number of
Warrant Shares shall be adjusted to the number of shares of Common Stock
determined by multiplying the Exercise Price in effect immediately prior to such
adjustment by the number of Warrant Shares acquirable upon exercise of this
Warrant immediately prior to such adjustment and dividing the product thereof by
the Exercise Price resulting from such adjustment. In the event an
adjustment is required under this Section 2, then
solely for purposes of determining the adjusted Exercise Price under this Section 2(a), the following
shall be applicable:

      
        
           

        

        
          -5-

          
            

          

        

        
           

        

      

      (i)           Issuance of
Options.  If the Company grants any Options and the lowest
price per share for which one share of Common Stock is issuable upon the
exercise of any such Option or upon conversion, exercise or exchange of any
Convertible Securities issuable upon exercise of any such Option is less than
the Applicable Price, then such share of Common Stock shall be deemed to be
outstanding and to have been issued and sold by the Company at the time of the
granting or sale of such Option for such price per share. For purposes of this
Section 2(a)(i),
the “lowest price per share for which one share of Common Stock is issuable upon
exercise of such Options or upon conversion, exercise or exchange of such
Convertible Securities issuable upon exercise of any such Option” shall be equal
to the sum of the lowest amounts of consideration (if any) received or
receivable by the Company with respect to any one share of Common Stock upon the
granting or sale of the Option, upon exercise of the Option and upon conversion,
exercise or exchange of any Convertible Security issuable upon exercise of such
Option. No further adjustment of the Exercise Price or number of Warrant Shares
shall be made upon the actual issuance of such shares of Common Stock or of such
Convertible Securities upon the exercise of such Options or upon the actual
issuance of such shares of Common Stock upon conversion, exercise or exchange of
such Convertible Securities.

       

      (ii)          Issuance of Convertible
Securities.  If the Company in any manner issues or sells any
Convertible Securities and the lowest price per share for which one share of
Common Stock is issuable upon the conversion, exercise or exchange thereof is
less than the Applicable Price, then such share of Common Stock shall be deemed
to be outstanding and to have been issued and sold by the Company at the time of
the issuance or sale of such Convertible Securities for such price per share.
For the purposes of this Section 2(a)(ii), the “lowest
price per share for which one share of Common Stock is issuable upon the
conversion, exercise or exchange thereof” shall be equal to the sum of the
lowest amounts of consideration (if any) received or receivable by the Company
with respect to one share of Common Stock upon the issuance or sale of the
Convertible Security and upon conversion, exercise or exchange of such
Convertible Security. No further adjustment of the Exercise Price or number of
Warrant Shares shall be made upon the actual issuance of such shares of Common
Stock upon conversion, exercise or exchange of such Convertible Securities, and
if any such issue or sale of such Convertible Securities is made upon exercise
of any Options for which adjustment of this Warrant has been or is to be made
pursuant to other provisions of this Section 2(a), no
further adjustment of the Exercise Price or number of Warrant Shares shall be
made by reason of such issue or sale.

      
        
           

        

        
          -6-

          
            

          

        

        
           

        

      

      (iii)         Change in Option Price or
Rate of Conversion. If the purchase price provided for in any Options,
the additional consideration, if any, payable upon the issue, conversion,
exercise or exchange of any Convertible Securities, or the rate at which any
Convertible Securities are convertible into or exercisable or exchangeable for
shares of Common Stock increases or decreases at any time, the Exercise Price
and the number of Warrant Shares in effect at the time of such increase or
decrease shall be adjusted to the Exercise Price and the number of Warrant
Shares which would have been in effect at such time had such Options or
Convertible Securities provided for such increased or decreased purchase price,
additional consideration or increased or decreased conversion rate, as the case
may be, at the time initially granted, issued or sold. For purposes of this
Section 2(a)(iii), if the
terms of any Option or Convertible Security that was outstanding as of the date
of issuance of this Warrant are increased or decreased in the manner described
in the immediately preceding sentence, then such Option or Convertible Security
and the shares of Common Stock deemed issuable upon exercise, conversion or
exchange thereof shall be deemed to have been issued as of the date of such
increase or decrease. No adjustment pursuant to this Section 2(a)
shall be made if such adjustment would result in an increase of the Exercise
Price then in effect or a decrease in the number of Warrant Shares.

       

      (iv)         Calculation of Consideration
Received. In case any Option is issued in connection with the issue or
sale of other securities of the Company, together comprising one integrated
transaction in which no specific consideration is allocated to such Options by
the parties thereto, the Options will be deemed to have been issued for a
consideration of $0.01. If any shares of Common Stock, Options or Convertible
Securities are issued or sold or deemed to have been issued or sold for cash,
the consideration received therefor will be deemed to be the gross amount
received by the Company therefor. If any shares of Common Stock, Options or
Convertible Securities are issued or sold for a consideration other than cash,
the amount of such consideration received by the Company will be the fair value
of such consideration, except where such consideration consists of securities,
in which case the amount of consideration received by the Company will be the
Weighted Average Price of such security on the date of receipt. If any shares of
Common Stock, Options or Convertible Securities are issued to the owners of the
non-surviving entity in connection with any merger in which the Company is the
surviving entity, the amount of consideration therefor will be deemed to be the
fair value of such portion of the net assets and business of the non-surviving
entity as is attributable to such shares of Common Stock, Options or Convertible
Securities, as the case may be. The fair value of any consideration other than
cash or securities will be determined jointly by the Company and the Required
Holders in good faith. If such parties are unable to reach agreement within ten
(10) days after the occurrence of an event requiring valuation (the “Valuation Event”), the fair
value of such consideration will be determined within five (5) Business Days
after the tenth (10th) day
following the Valuation Event by an independent, reputable appraiser jointly
selected by the Company and the Required Holders. The determination of such
appraiser shall be final and binding upon all parties absent manifest error and
the fees and expenses of such appraiser shall be borne by the
Company.

      
        
           

        

        
          -7-

          
            

          

        

        
           

        

      

      (b)                       Adjustment upon Subdivision
or Combination of Common Stock.  If the Company at any time on
or after the Subscription Date subdivides (by any stock split, stock dividend,
recapitalization or otherwise) one or more classes of its outstanding shares of
Common Stock into a greater number of shares, the Exercise Price in effect
immediately prior to such subdivision will be proportionately reduced and the
number of Warrant Shares will be proportionately increased. If the Company at
any time on or after the Subscription Date combines (by combination, reverse
stock split or otherwise) one or more classes of its outstanding shares of
Common Stock into a smaller number of shares, the Exercise Price in effect
immediately prior to such combination will be proportionately increased and the
number of Warrant Shares will be proportionately decreased. Any adjustment under
this Section 2(b)
shall become effective at the close of business on the date the subdivision or
combination becomes effective.

       

      (c)                       Other
Events.  If any event occurs of the type contemplated by the
provisions of this Section 2 but
not expressly provided for by such provisions (including, without limitation,
the granting of stock appreciation rights, phantom stock rights or other rights
with equity features unless such rights qualify as Excluded Securities), then
the Company’s Board of Directors will make an appropriate adjustment in the
Exercise Price and the number of Warrant Shares so as to protect the rights of
the Holder under this Warrant; provided that no such
adjustment pursuant to this Section 2(c)
will increase the Exercise Price or decrease the number of Warrant Shares except
as otherwise determined pursuant to this Warrant.

       

      (d)                       De
Minimis Adjustments.  No adjustment in the
Exercise Price shall be required unless such adjustment would require an
increase or decrease of at least $0.01 in such price; provided, however, that any adjustment which by reason
of this Section 2(d) is not required to be made shall be
carried forward and taken into account in any subsequent adjustments under this
Section 2. All calculations under this
Section 2 shall be made by the Company in good
faith and shall be made to the nearest cent or to the nearest one hundredth of a
share, as applicable, provided that the Company shall not be
required to issue any fractional shares pursuant to this Warrant. No adjustment need be made for a
change in the par value or no par value of the Common Stock.

       

      3.           RIGHTS UPON CASH DIVIDENDS
AND DISTRIBUTIONS; CHANGE OF CONTROL. Notwithstanding anything contained
herein to the contrary, if (i) the Company at any time on or after the
Subscription Date and prior to the termination, cancellation or full
satisfaction of this Warrant, pays a cash dividend, or makes any other cash
distribution to its stockholders (in each case other than in connection with the
issuance, exercise, exchange or conversion of Excluded Securities) or (ii) a
Change of Control occurs, then:

       

      (a)                       the
Exercise Price in effect immediately prior to such payment or dividend will be
reduced to $0.01 (there shall not be any adjustment of the number of Warrant
Shares in connection with an adjustment of the Exercise Price pursuant to this
Section 3;
provided; however, that upon the occurrence of an event described in Section 4, the
number of Warrant Shares shall be adjusted as set forth in Section 4);
and

      
        
           

        

        
          -8-

          
            

          

        

        
           

        

      

      (b)                       in
the case of any such cash dividend or cash distribution, the Holder shall
receive, for each Warrant Share that has not been issued under this Warrant
as of the record date for such payment or distribution or, in the absence of a
record date, as of immediately prior to such payment or distribution (each, an
“Unissued Warrant
Share”), the amount of the cash dividend or cash distribution the Holder
would have received had it exercised this Warrant in full for all such Unissued
Warrant Shares immediately prior to the record date for such payment or
distribution or, in the absence of a record date, as of immediately prior to
such payment or distribution.

       

      4.           RIGHTS UPON DISTRIBUTION OF
ASSETS.  Except as set forth in Section 3 above,
if the Company shall make any dividend or other distribution of its assets (or
rights to acquire its assets) to holders of shares of Common Stock (other than
in connection with the issuance, exercise, exchange or conversion of Excluded
Securities), by way of return of capital or otherwise (including, without
limitation, any distribution of cash, stock or other securities, property or
options by way of a dividend, spin off, reclassification, corporate
rearrangement, scheme of arrangement or other similar transaction)
(a “Distribution”),
at any time prior to the termination, cancellation or full satisfaction of this
Warrant, then, in each such case:

       

      (a)          any
Exercise Price in effect immediately prior to the close of business on the date
of Distribution shall be reduced, effective as of the close of business on the
date of Distribution, to a price determined by multiplying such Exercise Price
by a fraction of which (i) the numerator shall be the Weighted Average Price of
the shares of Common Stock on the Trading Day immediately preceding such date of
Distribution minus the value of the Distribution (as determined in good faith by
the Company’s Board of Directors) applicable to one share of Common Stock, and
(ii) the denominator shall be the Weighted Average Price of the shares of Common
Stock on the Trading Day immediately preceding such date of Distribution;
and

       

      (b)         the
number of Warrant Shares shall be increased to a number of shares equal to the
number of shares of Common Stock obtainable immediately prior to the close of
business on the date of Distribution multiplied by the reciprocal of the
fraction set forth in the immediately preceding paragraph (a).

      
        
           

        

        
          -9-

          
            

          

        

        
           

        

      

      5.           FUNDAMENTAL
TRANSACTIONS.  The Company shall not enter into or be party to
a Fundamental Transaction unless (i) the Successor Entity assumes in writing all
of the obligations of the Company under this Warrant and the other Transaction
Documents (as defined in the Securities Purchase Agreement) in accordance with
the provisions of this Section 5
pursuant to written agreements in form and substance reasonably satisfactory to
the Required Holders and approved by the Required Holders prior to such
Fundamental Transaction, including agreements to deliver to each holder of the
SPA Warrants in exchange for such Warrants a security of the Successor Entity
evidenced by a written instrument substantially similar in form and substance to
this Warrant, including, without limitation, an adjusted exercise price equal to
the value for the shares of Common Stock reflected by the terms of such
Fundamental Transaction, and exercisable for a corresponding number of shares of
capital stock equivalent to the shares of Common Stock acquirable and receivable
upon exercise of this Warrant (without regard to any limitations on the exercise
of this Warrant) prior to such Fundamental Transaction, and (ii) the
Successor Entity (including its Parent Entity) is a publicly traded corporation
whose common stock is quoted on or listed for trading on an Eligible Market.
Upon the occurrence of any Fundamental Transaction, the Successor Entity shall
succeed to, and be substituted for (so that from and after the date of such
Fundamental Transaction, the provisions of this Warrant referring to the
“Company” shall refer instead to the Successor Entity), and may exercise every
right and power of the Company and shall assume all of the obligations of the
Company under this Warrant with the same effect as if such Successor Entity had
been named as the Company herein. Upon consummation of the Fundamental
Transaction, the Successor Entity shall deliver to the Holder confirmation that
there shall be issued upon exercise of this Warrant at any time after the
consummation of the Fundamental Transaction, in lieu of the shares of the Common
Stock (or other securities, cash, assets or other property) issuable upon the
exercise of the Warrant prior to such Fundamental Transaction, such shares of
the publicly traded Common Stock (or its equivalent) of the Successor Entity
(including its Parent Entity) which the Holder would have been entitled to
receive upon the happening of such Fundamental Transaction had this Warrant been
exercised immediately prior to such Fundamental Transaction, as adjusted in
accordance with the provisions of this Warrant. In addition to and not in
substitution for any other rights hereunder, prior to the consummation of any
Fundamental Transaction pursuant to which holders of shares of Common Stock are
entitled to receive securities or other assets with respect to or in exchange
for shares of Common Stock (a “Corporate Event”), the Company
shall make appropriate provision to insure that the Holder will thereafter have
the right to receive upon an exercise of this Warrant at any time after the
consummation of the Fundamental Transaction but prior to the Expiration Date, in
lieu of the shares of the Common Stock (or other securities, cash, assets or
other property) issuable upon the exercise of this Warrant prior to such
Fundamental Transaction, such shares of stock, securities, cash, assets or any
other property whatsoever (including warrants or other purchase or subscription
rights) which the Holder would have been entitled to receive upon the happening
of such Fundamental Transaction had this Warrant been exercised immediately
prior to such Fundamental Transaction. Provision made pursuant to the preceding
sentence shall be in a form and substance reasonably satisfactory to the Holder.
The provisions of this Section shall apply similarly and equally to successive
Fundamental Transactions and Corporate Events and shall be applied without
regard to any limitations on the exercise of this Warrant.

       

      6.           NONCIRCUMVENTION.  The
Company hereby covenants and agrees that the Company will not, by amendment of
its Certificate of Incorporation, Bylaws or through any reorganization, transfer
of assets, consolidation, merger, scheme of arrangement, dissolution, issue or
sale of securities, or any other voluntary action, avoid or seek to avoid the
observance or performance of any of the terms of this Warrant, and will at all
times in good faith carry out all the provisions of this Warrant and take all
action as it believes may be required to protect the rights of the Holder in
accordance with the terms of this Warrant. Without limiting the generality of
the foregoing, the Company (i) shall not increase the par value of any
shares of Common Stock receivable upon the exercise of this Warrant above the
Exercise Price then in effect, (ii) shall take all such actions as may be
necessary or appropriate in order that the Company may validly and legally issue
fully paid and nonassessable shares of Common Stock upon the exercise of this
Warrant and (iii) shall, so long as any of the SPA Warrants are outstanding,
take all action necessary to reserve and keep available out of its authorized
and unissued shares of Common Stock, solely for the purpose of effecting the
exercise of the SPA Warrants, 105% of the number of shares of Common Stock as
shall from time to time be necessary to effect the exercise of the SPA Warrants
then outstanding (without regard to any limitations on
exercise).

      
        
           

        

        
          -10-

          
            

          

        

        
           

        

      

      7.           WARRANT HOLDER NOT DEEMED A
STOCKHOLDER.  Except as set forth in Section 3 above
and as otherwise specifically provided herein, the Holder, solely in such
Person’s capacity as a holder of this Warrant, shall not be entitled to vote or
receive dividends or be deemed the holder of share capital of the Company for
any purpose, nor shall anything contained in this Warrant be construed to confer
upon the Holder, solely in such Person’s capacity as the Holder of this Warrant,
any of the rights of a stockholder of the Company or any right to vote, give or
withhold consent to any corporate action (whether any reorganization, issue of
stock, reclassification of stock, consolidation, merger, conveyance or
otherwise), receive notice of meetings, receive dividends or subscription
rights, or otherwise, prior to the issuance to the Holder of the Warrant Shares
which such Person is then entitled to receive upon the due exercise of this
Warrant. In addition, nothing contained in this Warrant shall be construed as
imposing any liabilities on the Holder to purchase any securities (upon exercise
of this Warrant or otherwise) or as a stockholder of the Company, whether such
liabilities are asserted by the Company or by creditors of the
Company.

       

      8.           REISSUANCE OF
WARRANTS.

       

      (a)                       Transfer of
Warrant.  This Warrant may be offered for sale, sold,
transferred or assigned without the consent of the Company, except as may
otherwise be required by Section 2(f) of the Securities Purchase Agreement.
If this Warrant is to be transferred, the Holder shall surrender this Warrant to
the Company, whereupon the Company will forthwith issue and deliver upon the
order of the Holder a new Warrant (in accordance with Section 8(d)),
registered as the Holder may request, representing the right to purchase the
number of Warrant Shares being transferred by the Holder and, if less than the
total number of Warrant Shares then underlying this Warrant is being
transferred, a new Warrant (in accordance with Section 8(d)) to
the Holder representing the right to purchase the number of Warrant Shares not
being transferred.

       

      (b)                       Lost, Stolen or Mutilated
Warrant.  Upon receipt by the Company of evidence reasonably
satisfactory to the Company of the loss, theft, destruction or mutilation of
this Warrant, and, in the case of loss, theft or destruction, of any
indemnification undertaking by the Holder to the Company in customary form and,
in the case of mutilation, upon surrender and cancellation of this Warrant, the
Company shall execute and deliver to the Holder a new Warrant (in accordance
with Section 8(d))
representing the right to purchase the Warrant Shares then underlying this
Warrant.

       

      (c)                       Exchangeable for Multiple
Warrants. This Warrant is exchangeable, upon the surrender hereof by the
Holder at the principal office of the Company, for a new Warrant or Warrants (in
accordance with Section 8(d))
representing in the aggregate the right to purchase the number of Warrant Shares
then underlying this Warrant, and each such new Warrant will represent the right
to purchase such portion of such Warrant Shares as is designated by the Holder
at the time of such surrender; provided, however, that no
Warrants for fractional shares of Common Stock shall be given.

       

      
        
           

        

        
          -11-

          
            

          

        

        
           

        

      

      (d)                       Issuance of New
Warrants.  Whenever the Company is required to issue a new
Warrant pursuant to the terms of this Warrant, such new Warrant (i) shall be of
like tenor with this Warrant, (ii) shall represent, as indicated on the face of
such new Warrant, the right to purchase the Warrant Shares then underlying this
Warrant (or in the case of a new Warrant being issued pursuant to Section 8(a) or
Section 8(c),
the Warrant Shares designated by the Holder which, when added to the number of
shares of Common Stock underlying the other new Warrants issued in connection
with such issuance, does not exceed the number of Warrant Shares then underlying
this Warrant), (iii) shall have an issuance date, as indicated on the face of
such new Warrant which is the same as the Issuance Date, and (iv) shall have the
same rights and conditions as this Warrant.

       

      9.           NOTICES.  Whenever
notice is required to be given under this Warrant, unless otherwise provided
herein, such notice shall be given in accordance with Section 9(f) of the
Securities Purchase Agreement. The Company shall provide the Holder with prompt
written notice of all actions taken pursuant to this Warrant, including in
reasonable detail a description of such action and the reason therefore. Without
limiting the generality of the foregoing, the Company will give written notice
to the Holder (i) within three (3) Business Days following any adjustment of the
Exercise Price, setting forth in reasonable detail, and certifying, the
calculation of such adjustment and (ii) at least ten (10) days prior to the date
on which the Company closes its books or takes a record (A) with respect to any
dividend or distribution upon the shares of Common Stock, (B) with respect to
any grants, issuances or sales of any Options, Convertible Securities or rights
to purchase stock, warrants, securities or other property to all holders of
shares of Common Stock (other than Excluded Securities) or (C) for determining
rights to vote with respect to any Fundamental Transaction, dissolution or
liquidation, provided in each case
that such information has been made known to the public prior to or in
conjunction with such notice being provided to the Holder.

       

      10.         AMENDMENT AND
WAIVER.  Except as otherwise provided herein, the provisions of
this Warrant may be amended and the Company may take any action herein
prohibited, or omit to perform any act herein required to be performed by it,
only if the Company has obtained the written consent of the Required Holders;
provided, however, that without
the prior written consent of the Holder, no such action may be taken that (x)
would increase the exercise price of any SPA Warrant or decrease the number of
shares or class of stock obtainable upon exercise of any SPA Warrant (except in
connection with recapitalizations, reclassifications, stock dividends, stock
splits and the like), (y) has or would reasonably be expected to have a material
adverse effect upon the rights of the Holder under this Warrant or (z) would
modify this Section 10; provided that,
notwithstanding the foregoing, none of a Dilutive Issuance, a Distribution or a
Fundamental Transaction shall require the prior written consent of the Holder
(solely in its capacity as a holder of this Warrant) under this Section 10. No
such amendment shall be effective to the extent that it applies to less than all
of the holders of the SPA Warrants then outstanding unless consented to in
writing by the Holder and each other holder of the SPA Warrants then
outstanding.

      
        
           

        

        
          -12-

          
            

          

        

        
           

        

      

      11.         GOVERNING
LAW.  This Warrant shall be governed by and construed and
enforced in accordance with, and all questions concerning the construction,
validity, interpretation and performance of this Warrant shall be governed by,
the internal laws of the State of New York, without giving effect to any choice
of law or conflict of law provision or rule (whether of the State of New York or
any other jurisdictions) that would cause the application of the laws of any
jurisdictions other than the State of New York.

       

      12.         CONSTRUCTION; HEADINGS;
REFERENCES.  This Warrant shall be deemed to be jointly drafted
by the Company and all the Buyers and shall not be construed against any person
as the drafter hereof. The headings of this Warrant are for convenience of
reference and shall not form part of, or affect the interpretation of, this
Warrant. Unless otherwise provided, each reference to a “Section” herein shall
be deemed a reference to such section of this Warrant.

       

      13.         DISPUTE
RESOLUTION.  In the case of a dispute as to the determination
of the Exercise Price or the arithmetic calculation of the Warrant Shares, the
Company shall submit the disputed determinations or arithmetic calculations via
facsimile within five (5) Business Days of receipt of the Exercise Notice giving
rise to such dispute, as the case may be, to the Holder. If the Holder and the
Company are unable to agree upon such determination or calculation of the
Exercise Price or the Warrant Shares within three Business Days of such disputed
determination or arithmetic calculation being submitted to the Holder, then the
Company shall, within two (2) Business Days submit via facsimile (a) the
disputed determination of the Exercise Price to an independent, reputable
investment bank selected by the Company and approved by the Holder, which
approval shall not be unreasonably withheld, conditioned or delayed, or (b) the
disputed arithmetic calculation of the Warrant Shares to the Company’s
independent, outside accountant. The Company shall use its best efforts to cause
at its expense the investment bank or the accountant, as the case may be, to
perform the determinations or calculations and notify the Company and the Holder
of the results no later than ten Business Days from the time it receives the
disputed determinations or calculations. Such investment bank’s or accountant’s
determination or calculation, as the case may be, shall be binding upon all
parties absent demonstrable error.

       

      14.         REMEDIES, OTHER OBLIGATIONS,
BREACHES AND INJUNCTIVE RELIEF.  The remedies provided in this
Warrant shall be cumulative and in addition to all other remedies available
under this Warrant and the other Transaction Documents, at law or in equity
(including a decree of specific performance and/or other injunctive relief), and
nothing herein shall limit the right of the Holder right to pursue actual
damages for any failure by the Company to comply with the terms of this Warrant.
The Company acknowledges that a breach by it of its obligations hereunder may
cause irreparable harm to the Holder and that the remedy at law for any such
breach may be inadequate. The Company therefore agrees that, in the event of any
such breach or threatened breach, the Holder shall be entitled, in addition to
all other available remedies, to an injunction restraining any breach, without
the necessity of showing economic loss and without any bond or other security
being required.

       

      15.         CERTAIN
DEFINITIONS.  For purposes of this Warrant, the following terms
shall have the following meanings:

      
        
           

        

        
          -13-

          
            

          

        

        
           

        

      

      (a)                       “1933 Act” means the Securities
Act of 1933, as amended.

       

      (b)                       “Affiliate” means with
respect to a specified Person, any other Person who or which is (a) directly or
indirectly controlling, controlled by or under common control with the specified
Person, or (b) any member, stockholder, director, officer, manager, or
comparable principal of, or relative or spouse of, the specified Person. For
purposes of this definition, “control”, “controlling”, and “controlled” mean the
right to exercise, directly or indirectly, more than fifty percent of the voting
power of the stockholders, members or owners and, with respect to any
individual, partnership, trust or other entity or association, the possession,
directly or indirectly, of the power to direct or cause the direction of the
management or policies of the controlled entity.

       

      (c)                       “Approved Stock Plan” means
any employee benefit plan which has been or hereafter is approved by the board
of directors of the Company, pursuant to which the Company’s securities may be
issued to any employee, consultant, officer or director for services provided to
the Company.

       

      (d)                       “Bloomberg” means Bloomberg
Financial Markets.

       

      (e)                       “Business Day” means any day
other than Saturday, Sunday or other day on which commercial banks in The City
of New York are authorized or required by law to remain closed.

       

      (f) 
                      “Change of Control” means any
Fundamental Transaction other than (A) any reorganization, recapitalization or
reclassification of the Common Stock, in which holders of the Company's voting
power immediately prior to such reorganization, recapitalization or
reclassification continue after such reorganization, recapitalization or
reclassification to hold publicly traded securities and, directly or indirectly,
the voting power of the surviving entity or entities necessary to elect a
majority of the members of the board of directors (or their equivalent if other
than a corporation) of such entity or entities, or (B) pursuant to a migratory
merger effected solely for the purpose of changing the jurisdiction of
incorporation of the Company.

       

      (g)                      “Closing Sale Price” means, as
of any date, the last closing trade price for the Common Stock on the Principal
Market, as reported by Bloomberg, or, if the Principal Market begins to operate
on an extended hours basis and does not designate the closing trade price then
the last trade price of such security prior to 4:00:00 p.m., New York time, as
reported by Bloomberg, or, if the Principal Market is not the principal
securities exchange or trading market for such security, the last trade price of
such security on the principal securities exchange or trading market where such
security is listed or traded as reported by Bloomberg, or if the foregoing do
not apply, the last trade price of such security in the over-the-counter market
on the electronic bulletin board for such security as reported by Bloomberg, or,
if no last trade price is reported for such security by Bloomberg, the average
of the highest closing bid price and the lowest closing ask price of any of the
market makers for such security as reported in the “pink sheets”. If the Closing
Sale Price cannot be calculated for a security on a particular date on any of
the foregoing bases, the Closing Sale Price on such date shall be the fair
market value of the Common Stock as mutually determined by the Company and the
Holder in good faith. If the Company and the Holder are unable to agree upon the
fair market value of the Common Stock, then such dispute shall be resolved
pursuant to Section 13. All
such determinations shall be appropriately adjusted for any stock dividend,
stock split, stock combination or other similar transaction during the
applicable calculation period.

      
        
           

        

        
          -14-

          
            

          

        

        
           

        

      

      (h)                       “Common Stock” means
(i) the Company’s shares of common stock, par value $0.01 per share, and
(ii) any share capital into which such common stock shall have been changed
or any share capital resulting from a reclassification of such common
stock.

       

      (i) 
                      “Common Stock Deemed
Outstanding” means, at any given time, the number of shares of Common
Stock actually outstanding at such time, plus the number of shares of Common
Stock deemed to be outstanding pursuant to Sections 2(a)(i) and 2(a)(ii) hereof
regardless of whether the Options or Convertible Securities are actually
exercisable at such time, but excluding any shares of Common Stock owned or held
by or for the account of the Company or issuable upon exercise of the SPA
Warrants.

       

      (j) 
                      “Convertible Securities” means
any stock or securities (other than Options) directly or indirectly convertible
into or exercisable or exchangeable for shares of Common Stock.

       

      (k)                       “Eligible Market” means The New
York Stock Exchange, Inc., NYSE Amex, The NASDAQ Global Market, The NASDAQ
Global Select Market, The NASDAQ Capital Market or the OTC Bulletin
Board.

      
        
           

        

        
          -15-

          
            

          

        

        
           

        

      

      (l)
                       “Excluded Securities” means any
(I) Common Stock issued or issuable, directly or indirectly: (i) in
connection with any Approved Stock Plan or with respect to any shares of Common
Stock reserved as employee shares (or for consultants, officers or directors of
the Company and its Subsidiaries) as of the date immediately preceding the
Issuance Date; (ii) pursuant to a bona fide firm commitment underwritten
public offering with a nationally recognized underwriter which generates gross
proceeds to the Company in excess of $10,000,000 (other
than an “at-the-market offering” as defined in Rule 415(a)(4) under the
1933 Act, and “equity lines”); (iii) upon conversion of any Options or
Convertible Securities which are outstanding on the day immediately preceding
the Issuance Date, provided that the exercise or conversion price of such
Options or Convertible Securities are not reduced on or after the Issuance Date
(except in connection with recapitalizations, reclassifications, stock
dividends, stock splits and the like); (iv) in connection with any merger,
consolidation, acquisition, or similar business combination approved by the
board of directors of the Company; (v) pursuant to any equipment loan or
leasing arrangement, real property leasing arrangement or debt financing from a
bank or similar financial institution approved by the board of directors of the
Company; (vi) in connection with the payment of interest, penalties,
premiums or other liquidated damages on the Notes or under any registration
rights agreement of the Company in effect prior to the Issuance
Date (provided that such registration rights agreement was disclosed to the
Buyers on or prior to the Issuance Date or an exhibit to a Current Report,
Quarterly Report or Annual Report of the Company filed with the SEC at least two
(2) Business Days prior to the Issuance Date); (vii) upon conversion of any
Series B nonredeemable convertible preferred stock, par value $0.01 per share,
of the Company (“Series B
Preferred”), outstanding as of the Issuance Date; or (viii) under the
Securities Purchase Agreement or under any SPA Warrants, including this Warrant;
(II) any Options issued in connection with any Approved Stock Plan or with
respect to any shares of Common Stock reserved as employee shares (or for
consultants, officers or directors of the Company and its Subsidiaries) as of
the date immediately preceding the Issuance Date; (III) any Series B
preferred issued or issuable upon conversion of the convertible promissory note
originally issued on February 8, 2007 by the Company to Elan Pharma
International Limited and any replacements thereof (the “Elan Note”) (provided,
however, that the terms relating to the conversion of such note shall not be
materially modified and the principal amount of such note, after deducting for
amounts converted, repaid, redeemed or prepaid, shall not have been increased)
(the “Elan Note Series B
Preferred”); (IV) any Common Stock issued or issuable upon conversion of
any of the Elan Note Series B Preferred; (V) any warrant issued or issuable
pursuant to the terms of the Elan Note (an “Elan Warrant”); (VI) any
Series B Preferred issued or issuable upon exercise of any Elan Warrant (the
“Elan Warrant Series
B”); (VII) any Common Stock issued or issuable upon conversion of any
Elan Warrant Series B; (VIII) up to 1,538,755 shares (subject to
appropriate adjustment for stock splits, stock dividends, reverse stock splits
and other recapitalizations) of Common Stock issued or issuable to Indevus
Pharmaceuticals, Inc. (or its successor) pursuant to that certain Exchange
Agreement, dated July 15, 1999, between the Company (formerly Intercardia, Inc.)
and Indevus Pharmaceuticals, Inc. (formerly Interneuron Pharmaceuticals, Inc.);
and (IX) any Common Stock issued or issuable pursuant to a stock split, stock
dividend, recapitalization, exchange or similar event or otherwise relating to
any of the securities referred to in clauses (I) through (VIII)
hereof.

       

      (m)                      “Expiration Date” means the
date seven (7) years after the Issuance Date or, if such date falls on a day
other than a Business Day or on which trading does not take place on the
Principal Market (a “Holiday”), the first date
thereafter that is not a Holiday.

       

      (n)                       “Fundamental Transaction”
means any of the following transactions, in which the Company shall,
directly or indirectly, in one or more related transactions, (i) consolidate or
merge with or into (whether or not the Company is the surviving corporation)
another Person or Persons, and the holders of the Voting Stock (not
including any shares of Voting Stock held by the Person or Persons making or
party to, or associated or affiliated with the Persons making or party to, such
consolidation or merger) immediately prior to such consolidation or merger
hold or have the right to direct the voting of less than 50% of the Voting Stock
or such voting securities of such other surviving Person immediately following
such transaction, or (ii) sell, assign, transfer, convey or otherwise dispose of
all or substantially all of the properties or assets of the Company to another
Person, or (iii) be the subject of a purchase, tender or exchange offer
that is accepted by the holders of more than 50% of the outstanding shares of
Voting Stock (not including any shares of Voting Stock held by the Person or
Persons making or party to, or associated or affiliated with the Persons making
or party to, such purchase, tender or exchange offer), or (iv) consummate a
stock purchase agreement or other business combination (including, without
limitation, a reorganization, recapitalization, spin-off or scheme of
arrangement) with another Person other than Goodnow Capital, L.L.C., Xmark
Opportunity Partners, LLC or an Affiliate of either of the foregoing whereby
such other Person acquires more than 50% of the outstanding shares of Voting
Stock (not including any shares of Voting Stock held by the other Person or
other Persons making or party to, or associated or affiliated with the other
Persons making or party to, such stock purchase agreement or other business
combination), or (v) be the subject of a change in ownership such that any
“person” or “group” (as these terms are used for purposes of Sections 13(d) and
14(d) of the Exchange Act) other than Goodnow Capital, L.L.C., Xmark Opportunity
Partners, LLC or an Affiliate of either of the foregoing is or shall become the
“beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly
or indirectly, of 50% of the aggregate ordinary voting power represented by
issued and outstanding Common Stock.

      
        
           

        

        
          -16-

          
            

          

        

        
           

        

      

      (o)                       “Options” means any rights,
warrants or options to subscribe for or purchase shares of Common Stock or
securities convertible into or exercisable or exchangeable for Common
Stock.

       

      (p)                       “Parent Entity” of a Person
means an entity that, directly or indirectly, controls the applicable Person and
whose common stock or equivalent equity security is quoted or listed on an
Eligible Market, or, if there is more than one such Person or Parent Entity, the
Person or Parent Entity with the largest public market capitalization as of the
date of consummation of the Fundamental Transaction.

       

      (q)                       “Person” means an individual, a
limited liability company, a partnership, a joint venture, a corporation, a
trust, an unincorporated organization, any other entity and a government or any
department or agency thereof.

       

      (r)
                       “Principal Market” means the
Eligible Market the Common Stock is then listed on.

       

      (s)                       “Required Holders” means the
holders of the SPA Warrants representing at least fifty and one-tenth percent
(50.1%) of the shares of Common Stock underlying the SPA Warrants then
outstanding.

       

      (t)                       “Subsidiary” means each
“Significant Subsidiary” (as such term is defined in Rule 1-02 of Regulation S-X
of the 1933 Act) of the Company.

       

      (u)                       “Successor Entity” means the
Person, which may be the Company, formed by, resulting from or surviving any
Fundamental Transaction or the Person with which such Fundamental Transaction
shall have been made, provided that if such Person
is not a publicly traded entity whose common stock or equivalent equity security
is quoted or listed for trading on an Eligible Market, Successor Entity shall
mean such Person’s Parent Entity.

       

      (v)                       “Trading Day” means any day on
which the Common Stock are traded on the Principal Market, or, if the Principal
Market is not the principal trading market for the Common Stock, then on the
principal securities exchange or securities market on which the Common Stock are
then traded; provided that
“Trading Day” shall not include any day on which the Common Stock are scheduled
to trade on such exchange or market for less than 4.5 hours or any day that the
Common Stock are suspended from trading during the final hour of trading on such
exchange or market (or if such exchange or market does not designate in advance
the closing time of trading on such exchange or market, then during the hour
ending at 4:00:00 p.m., New York time).

      
        
           

        

        
          -17-

          
            

          

        

        
           

        

      

      (w)                      “Voting Stock” of a Person
means capital stock of such Person of the class or classes pursuant to which the
holders thereof have the general voting power to elect, or the general power to
appoint, at least a majority of the board of directors, managers or trustees of
such Person (irrespective of whether or not at the time capital stock of any
other class or classes shall have or might have voting power by reason of the
happening of any contingency).

       

      (x)                       “Weighted Average Price” means,
for any security as of any date, the dollar volume-weighted average price for
such security on the Principal Market during the period beginning at 9:30:01
a.m., New York City time, and ending at 4:00:00 p.m., New York City time, as
reported by Bloomberg through its “Volume at Price” function or, if the
foregoing does not apply, the dollar volume-weighted average price of such
security in the over-the-counter market on the electronic bulletin board for
such security during the period beginning at 9:30:01 a.m., New York City time,
and ending at 4:00:00 p.m., New York City time, as reported by Bloomberg, or, if
no dollar volume-weighted average price is reported for such security by
Bloomberg for such hours, the average of the highest closing bid price and the
lowest closing ask price of any of the market makers for such security as
reported in the “pink sheets”. If the Weighted Average Price cannot be
calculated for such security on such date on any of the foregoing bases, the
Weighted Average Price of such security on such date shall be the fair market
value as mutually determined by the Company and the Required Holders in good
faith; provided
that if the Company and the Required Holders are unable to agree upon the fair
market value of such security, then such dispute shall be resolved pursuant to
Section 13
with the term “Weighted Average Price” being substituted for the term “Exercise
Price.” All such determinations shall be appropriately adjusted for any share
dividend, share split or other similar transaction during such
period.

       

      [Signature Page Follows.]

      
        
           

        

        
          -18-

          
            

          

        

        
           

        

      

      IN WITNESS WHEREOF, the
Company has caused this Warrant to Purchase Common Stock to be duly executed as
of the Issuance Date set out above.

      

      
        
          	 
      	
                  AEOLUS
      PHARMACEUTICALS, INC.

                
	 
      	 
      
	 
      	
                  By:

                	 
      
	 
      	
                  Name: 
      John McManus

                
	 
      	
                  Title:   
      President and Chief Executive
Officer

                

        

      

      

      Signature
Page to Warrant to Purchase Common Stock

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      EXHIBIT
A

      

      EXERCISE
NOTICE

       

      TO
BE EXECUTED BY THE REGISTERED HOLDER TO EXERCISE THIS

      WARRANT
TO PURCHASE COMMON STOCK

      

      AEOLUS
PHARMACEUTICALS, INC.

       

      The
undersigned holder hereby exercises the right to purchase _________________ of
the shares of Common Stock (“Warrant Shares”) of Aeolus
Pharmaceuticals, Inc., a Delaware corporation (the “Company”), evidenced by the
attached Warrant to Purchase Common Stock (the “Warrant”). Capitalized terms
used herein and not otherwise defined shall have the respective meanings set
forth in the Warrant.

       

      1.           Form of Exercise
Price.  The Holder intends that payment of the Exercise Price
shall be made as:

       

      
        	
                 
      

              	
                 ____________

              	
                a
      “Cash
      Exercise” with respect to _________________ Warrant Shares;
      and/or

              

      

       

      
        	
                 
      

              	
                 ____________

              	
                a
      “Cashless
      Exercise” with respect to _______________ Warrant
      Shares.

              

      

       

      2.           Payment of Exercise
Price.  In the event that the holder has elected a Cash
Exercise with respect to some or all of the Warrant Shares to be issued pursuant
hereto, the holder shall pay the Aggregate Exercise Price in the sum of
$___________________ to the Company in accordance with the terms of the
Warrant.

       

      3.           Maximum Exercise
Percentage.  The Holder represents and warrants to the Company
that the Holder, together with the Holder’s affiliates, will not beneficially
own in excess of [9.99]%1 of the
shares of Common Stock of the Company outstanding immediately after giving
effect to the exercise of the Warrant for the number of Warrant Shares to be
issued pursuant to this Exercise Notice.

       

      4.           Delivery of Warrant
Shares.  The Company shall deliver to the holder __________
Warrant Shares in accordance with the terms of the Warrant.

      

      Date:
_______________ __, ______

      

      ______________________________

       Name
of Registered Holder

      

      
        
          
            	
                    By:

                  	 
      	 
      
	 
      	
                    Name:

                  	 
      
	 
      	
                    Title:

                  	 
      

          

        

      

      
         

        
          

        

      

      1Such
amount to be the Maximum Percentages.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      ACKNOWLEDGMENT

      

      The
Company hereby acknowledges this Exercise Notice and hereby directs American
Stock Transfer and Trust Company to issue the above indicated number of shares
of Common Stock in accordance with the Irrevocable Transfer Agent Instructions
dated [_____ __,] 2010 from the Company and acknowledged and agreed to by
American Stock Transfer and Trust Company.

      

      
        
          
            
              
                	 
      	
                        AEOLUS
      PHARMACEUTICALS, INC.

                      
	 
      	 
      
	 
      	
                        By:

                      	 
      
	 
      	
                        Name:

                      
	 
      	
                        Title:Exhibit
10.1

     

    FOURTH
AMENDED AND RESTATED CREDIT AGREEMENT

     

    dated as
of December 28, 2007

     

    among

     

    MIDDLEBY
MARSHALL INC.,

     

    THE
MIDDLEBY CORPORATION,

     

    VARIOUS
FINANCIAL INSTITUTIONS,

     

    WELLS
FARGO BANK, N.A.,

    as
Syndication Agent,

    

    ROYAL
BANK OF CANADA,

    and

    RBS
CITIZENS, N.A.,

    as
Co-Documentation Agents,

    

    FIFTH
THIRD BANK

    and

    NATIONAL
CITY BANK

    as
Co-Agents

    

    and

     

    BANK OF
AMERICA, N.A.,

    as
Administrative Agent, Issuing Lender and Swing Line Lender

     

    BANC OF
AMERICA SECURITIES LLC

    Lead
Arranger and Book Manager

      

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          	
                                  CONTENTS

                                
	 
      	 
      	 
      	 
      
	
                                  Clause

                                	 
      	
                                  Page

                                
	 
      	 
      	 
      	 
      
	
                                  SECTION
      1

                                	
                                  DEFINITIONS

                                	
                                  1

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  1.1

                                	
                                  Definitions

                                	
                                  1

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  1.2

                                	
                                  Other
      Interpretive Provisions

                                	
                                  15

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  1.3

                                	
                                  Allocation
      of Loans and Percentages at the Effective Time

                                	
                                  16

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  SECTION
      2

                                	
                                  COMMITMENTS
      OF THE LENDERS; BORROWING AND CONVERSION PROCEDURES; LETTER OF CREDIT
      PROCEDURES; SWING LINE LOANS

                                	
                                  17

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  2.1

                                	
                                  Commitments

                                	
                                  17

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  2.1.1

                                	
                                  Revolving
      Loans

                                	
                                  17

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  2.1.2

                                	
                                  L/C
      Commitment

                                	
                                  17

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  2.2

                                	
                                  Loan
      Procedures

                                	
                                  17

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  2.2.1

                                	
                                  Various
      Types of Loans

                                	
                                  17

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  2.2.2

                                	
                                  Borrowing
      Procedures

                                	
                                  18

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  2.2.3

                                	
                                  Conversion
      and Continuation Procedures

                                	
                                  18

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  2.3

                                	
                                  Letter
      of Credit Procedures

                                	
                                  19

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  2.3.1

                                	
                                  L/C
      Applications

                                	
                                  19

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  2.3.2

                                	
                                  Participations
      in Letters of Credit

                                	
                                  20

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  2.3.3

                                	
                                  Reimbursement
      Obligations

                                	
                                  20

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  2.3.4

                                	
                                  Limitation
      on Obligations of Issuing Lenders

                                	
                                  20

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  2.3.5

                                	
                                  Funding
      by Lenders to Issuing Lenders

                                	
                                  21

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  2.3.6

                                	
                                  Information
      regarding Letters of Credit

                                	
                                  21

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  2.3.7

                                	
                                  Joint
      Applications

                                	
                                  21

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  2.3.8

                                	
                                  Applicability
      of ISP and UCP

                                	
                                  22

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  2.4

                                	
                                  Swing
      Line Loans

                                	
                                  22

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  2.4.1

                                	
                                  Swing
      Line Loans

                                	
                                  22

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  2.4.2

                                	
                                  Swing
      Line Loan Procedures

                                	
                                  22

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  2.4.3

                                	
                                  Refunding
      of, or Funding of Participations in, Swing Line Loans

                                	
                                  22

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  2.4.4

                                	
                                  Repayment
      of Participations

                                	
                                  23

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  2.4.5

                                	
                                  Participation
      Obligations Unconditional

                                	
                                  23

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  2.5

                                	
                                  Commitments
      Several

                                	
                                  23

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  2.6

                                	
                                  Certain
      Conditions

                                	
                                  24

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  SECTION
      3

                                	
                                  RECORDKEEPING

                                	
                                  24

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  SECTION
      4

                                	
                                  INTEREST

                                	
                                  24

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  4.1

                                	
                                  Interest
      Rates

                                	
                                  24

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  4.2

                                	
                                  Interest
      Payment Dates

                                	
                                  24

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  4.3

                                	
                                  Setting
      and Notice of Eurodollar Rates

                                	
                                  24

                                	 
      
	 
      	 
      	 
      	 
      
	
                                  4.4

                                	
                                  Computation
      of Interest

                                	
                                  25

                                	 
      

                        

                      

                    

                  

                

              

            

          

           

          
            
              
              

            

            
              
              

              
                

              

            

            
              
              

            

          

           

          
            
              
                
                  
                    
                      
                        	
                                CONTENTS

                              
	 
      	 
      	 
      	 
      
	
                                Clause

                              	 
      	
                                Page

                              
	 
      	 
      	 
      	 
      
	
                                SECTION
      5

                              	
                                FEES

                              	
                                25

                              	 
      
	 
      	 
      	 
      	 
      
	
                                5.1

                              	
                                Commitment
      Fee

                              	
                                25

                              	 
      
	 
      	 
      	 
      	 
      
	
                                5.2

                              	
                                Letter
      of Credit Fees

                              	
                                25

                              	 
      
	 
      	 
      	 
      	 
      
	
                                5.3

                              	
                                Up-Front
      Fees

                              	
                                25

                              	 
      
	 
      	 
      	 
      	 
      
	
                                5.4

                              	
                                Administrative
      Agent’s and Lead Arranger’s Fees

                              	
                                26

                              	 
      
	 
      	 
      	 
      	 
      
	
                                SECTION
      6

                              	
                                REPAYMENT
      OF LOANS; REDUCTION AND TERMINATION OF THE COMMITMENTS;
      PREPAYMENTS

                              	
                                26

                              	 
      
	 
      	 
      	 
      	 
      
	
                                6.1

                              	
                                Repayment
      of Loans

                              	
                                26

                              	 
      
	 
      	 
      	 
      	 
      
	
                                6.2

                              	
                                Changes
      in the Commitment Amount

                              	
                                26

                              	 
      
	 
      	 
      	 
      	 
      
	
                                6.2.1

                              	
                                Voluntary
      Reductions and Termination of the Commitment Amount

                              	
                                26

                              	 
      
	 
      	 
      	 
      	 
      
	
                                6.2.2

                              	
                                Increase
      in the Commitment Amount

                              	
                                26

                              	 
      
	 
      	 
      	 
      	 
      
	
                                6.3

                              	
                                Prepayments

                              	
                                27

                              	 
      
	 
      	 
      	 
      	 
      
	
                                6.3.1

                              	
                                Voluntary
      Prepayments

                              	
                                27

                              	 
      
	 
      	 
      	 
      	 
      
	
                                SECTION
      7

                              	
                                MAKING
      AND PRORATION OF PAYMENTS; SETOFF; TAXES

                              	
                                27

                              	 
      
	 
      	 
      	 
      	 
      
	
                                7.1

                              	
                                Making
      of Payments

                              	
                                27

                              	 
      
	 
      	 
      	 
      	 
      
	
                                7.2

                              	
                                Application
      of Certain Payments

                              	
                                28

                              	 
      
	 
      	 
      	 
      	 
      
	
                                7.3

                              	
                                Due
      Date Extension

                              	
                                28

                              	 
      
	 
      	 
      	 
      	 
      
	
                                7.4

                              	
                                Setoff

                              	
                                28

                              	 
      
	 
      	 
      	 
      	 
      
	
                                7.5

                              	
                                Proration
      of Payments

                              	
                                28

                              	 
      
	 
      	 
      	 
      	 
      
	
                                7.6

                              	
                                Taxes

                              	
                                28

                              	 
      
	 
      	 
      	 
      	 
      
	
                                7.7

                              	
                                Non-Receipt
      of Funds by Administrative Agent

                              	
                                30

                              	 
      
	 
      	 
      	 
      	 
      
	
                                SECTION
      8

                              	
                                INCREASED
      COSTS; SPECIAL PROVISIONS FOR EURODOLLAR LOANS

                              	
                                31

                              	 
      
	 
      	 
      	 
      	 
      
	
                                8.1

                              	
                                Increased
      Costs

                              	
                                31

                              	 
      
	 
      	 
      	 
      	 
      
	
                                8.2

                              	
                                Basis
      for Determining Interest Rate Inadequate or Unfair

                              	
                                32

                              	 
      
	 
      	 
      	 
      	 
      
	
                                8.3

                              	
                                Changes
      in Law Rendering Eurodollar Loans Unlawful

                              	
                                33

                              	 
      
	 
      	 
      	 
      	 
      
	
                                8.4

                              	
                                Funding
      Losses

                              	
                                33

                              	 
      
	 
      	 
      	 
      	 
      
	
                                8.5

                              	
                                Right
      of Lenders to Fund through Other Offices

                              	
                                33

                              	 
      
	 
      	 
      	 
      	 
      
	
                                8.6

                              	
                                Discretion
      of Lenders as to Manner of Funding

                              	
                                33

                              	 
      
	 
      	 
      	 
      	 
      
	
                                8.7

                              	
                                Mitigation
      of Circumstances; Replacement of Affected Lender

                              	
                                34

                              	 
      
	 
      	 
      	 
      	 
      
	
                                8.8

                              	
                                Conclusiveness
      of Statements; Survival of Provisions

                              	
                                34

                              	 
      
	 
      	 
      	 
      	 
      
	
                                SECTION
      9

                              	
                                REPRESENTATIONS
      AND WARRANTIES

                              	
                                34

                              	 
      
	 
      	 
      	 
      	 
      
	
                                9.1

                              	
                                Organization,
      etc

                              	
                                34

                              	 
      
	 
      	 
      	 
      	 
      
	
                                9.2

                              	
                                Authorization;
      No Conflict

                              	
                                35

                              	 
      
	 
      	 
      	 
      	 
      
	
                                9.3

                              	
                                Validity
      and Binding Nature

                              	
                                35

                              	 
      
	 
      	 
      	 
      	 
      
	
                                9.4

                              	
                                Financial
      Condition

                              	
                                35

                              	 
      
	 
      	 
      	 
      	 
      
	
                                9.5

                              	
                                No
      Material Adverse Change

                              	
                                35

                              	 
      

                      

                    

                  

                

              

            

          

           

          
            
              
              

            

            
              ii

              
                

              

            

            
              
              

            

          

           

          
            
              
                
                  
                    
                      	
                              CONTENTS

                            
	 
      	 
      	 
      	 
      
	
                              Clause

                            	 
      	
                              Page

                            
	 
      	 
      	 
      	 
      
	
                              9.6

                            	
                              Litigation
      and Contingent Liabilities

                            	
                              35

                            	 
      
	 
      	 
      	 
      	 
      
	
                              9.7

                            	
                              Ownership
      of Properties; Liens

                            	
                              36

                            	 
      
	 
      	 
      	 
      	 
      
	
                              9.8

                            	
                              Subsidiaries

                            	
                              36

                            	 
      
	 
      	 
      	 
      	 
      
	
                              9.9

                            	
                              Pension
      Plans

                            	
                              36

                            	 
      
	 
      	 
      	 
      	 
      
	
                              9.10

                            	
                              Investment
      Company Act

                            	
                              36

                            	 
      
	 
      	 
      	 
      	 
      
	
                              9.11

                            	
                              Regulation
      U

                            	
                              36

                            	 
      
	 
      	 
      	 
      	 
      
	
                              9.12

                            	
                              Taxes

                            	
                              37

                            	 
      
	 
      	 
      	 
      	 
      
	
                              9.13

                            	
                              Solvency,
      etc

                            	
                              37

                            	 
      
	 
      	 
      	 
      	 
      
	
                              9.14

                            	
                              Environmental
      Matters

                            	
                              37

                            	 
      
	 
      	 
      	 
      	 
      
	
                              9.15

                            	
                              Information

                            	
                              37

                            	 
      
	 
      	 
      	 
      	 
      
	
                              9.16

                            	
                              No
      Default

                            	
                              38

                            	 
      
	 
      	 
      	 
      	 
      
	
                              9.17

                            	
                              No
      Burdensome Restrictions

                            	
                              38

                            	 
      
	 
      	 
      	 
      	 
      
	
                              SECTION
      10

                            	
                              COVENANTS

                            	
                              38

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.1

                            	
                              Reports,
      Certificates and Other Information

                            	
                              38

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.1.1

                            	
                              Audit
      Report

                            	
                              38

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.1.2

                            	
                              Quarterly
      Reports

                            	
                              38

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.1.3

                            	
                              Compliance
      Certificates

                            	
                              39

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.1.4

                            	
                              Reports
      to SEC and to Shareholders

                            	
                              39

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.1.5

                            	
                              Notice
      of Default, Litigation, ERISA and Environmental Matters

                            	
                              39

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.1.6

                            	
                              Subsidiaries

                            	
                              40

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.1.7

                            	
                              Management
      Reports

                            	
                              40

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.1.8

                            	
                              Projections

                            	
                              40

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.1.9

                            	
                                Other
      Information

                            	
                              40

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.2

                            	
                              Books,
      Records and Inspections

                            	
                              40

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.3

                            	
                              Insurance

                            	
                              41

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.4

                            	
                              Compliance
      with Laws, Material Contracts; Payment of Taxes and
      Liabilities

                            	
                              41

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.5

                            	
                              Maintenance
      of Existence, etc

                            	
                              41

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.6

                            	
                              Financial
      Covenants

                            	
                              41

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.6.1

                            	
                              Fixed
      Charge Coverage Ratio

                            	
                              41

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.6.2

                            	
                              Leverage
      Ratio

                            	
                              41

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.7

                            	
                              Limitations
      on Debt

                            	
                              41

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.8

                            	
                              Liens

                            	
                              42

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.9

                            	
                              Restricted
      Payments

                            	
                              44

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.10

                            	
                              Mergers,
      Consolidations, Sales

                            	
                              44

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.11

                            	
                              Use
      of Proceeds

                            	
                              45

                            	 
      

                    

                  

                

              

            

          

           

          
            
              
              

            

            
              iii

              
                

              

            

            
              
              

            

          

           

          
            
              
                
                  
                    
                      	
                              CONTENTS

                            
	 
      	 
      	 
      	 
      
	
                              Clause

                            	 
      	
                              Page

                            
	 
      	 
      	 
      	 
      
	
                              10.12

                            	
                              Further
      Assurances

                            	
                              45

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.13

                            	
                              Transactions
      with Affiliates

                            	
                              45

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.14

                            	
                              Employee
      Benefit Plans

                            	
                              46

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.15

                            	
                              Environmental
      Laws

                            	
                              46

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.16

                            	
                              Unconditional
      Purchase Obligations

                            	
                              46

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.17

                            	
                              Inconsistent
      Agreements

                            	
                              46

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.18

                            	
                              Business
      Activities

                            	
                              46

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.19

                            	
                              Advances
      and Other Investments

                            	
                              46

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.20

                            	
                              Foreign
      Subsidiaries

                            	
                              47

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.21

                            	
                              Amendments
      to Certain Documents

                            	
                              48

                            	 
      
	 
      	 
      	 
      	 
      
	
                              10.22

                            	
                              Real
      Estate Documents

                            	
                              48

                            	 
      
	 
      	 
      	 
      	 
      
	
                              SECTION 11

                            	
                              EFFECTIVENESS;
      CONDITIONS OF LENDING, ETC

                            	
                              48

                            	 
      
	 
      	 
      	 
      	 
      
	
                              11.1

                            	
                              Effectiveness

                            	
                              48

                            	 
      
	 
      	 
      	 
      	 
      
	
                              11.1.1

                            	
                              Resolutions

                            	
                              49

                            	 
      
	 
      	 
      	 
      	 
      
	
                              11.1.2

                            	
                              Other
      Consents, etc

                            	
                              49

                            	 
      
	 
      	 
      	 
      	 
      
	
                              11.1.3

                            	
                              Incumbency
      and Signature Certificates

                            	
                              49

                            	 
      
	 
      	 
      	 
      	 
      
	
                              11.1.4

                            	
                               Confirmation

                            	
                              49

                            	 
      
	 
      	 
      	 
      	 
      
	
                              11.1.5

                            	
                               Opinion
      of Counsel for the Loan Parties

                            	
                              49

                            	 
      
	 
      	 
      	 
      	 
      
	
                              11.1.6

                            	
                              Star
      Merger

                            	
                              49

                            	 
      
	 
      	 
      	 
      	 
      
	
                              11.1.7

                            	
                              Compliance
      Certificate

                            	
                              50

                            	 
      
	 
      	 
      	 
      	 
      
	
                              11.1.8

                            	
                              Amendments
      to Mortgages

                            	
                              50

                            	 
      
	 
      	 
      	 
      	 
      
	
                              11.1.9

                            	
                              Form
      U-1

                            	
                              50

                            	 
      
	 
      	 
      	 
      	 
      
	
                              11.1.10

                            	
                              Other

                            	
                              50

                            	 
      
	 
      	 
      	 
      	 
      
	
                              11.2

                            	
                              Conditions
      to All Credit Extensions

                            	
                              50

                            	 
      
	 
      	 
      	 
      	 
      
	
                              11.2.1

                            	
                              Compliance
      with Representations and Warranties, No Default, etc

                            	
                              50

                            	 
      
	 
      	 
      	 
      	 
      
	
                              11.2.2

                            	
                               Confirmatory
      Certificate

                            	
                              50

                            	 
      
	 
      	 
      	 
      	 
      
	
                              SECTION
      12

                            	
                              EVENTS
      OF DEFAULT AND THEIR EFFECT

                            	
                              51

                            	 
      
	 
      	 
      	 
      	 
      
	
                              12.1

                            	
                              Events
      of Default

                            	
                              51

                            	 
      
	 
      	 
      	 
      	 
      
	
                              12.1.1

                            	
                              Non-Payment
      of the Loans, etc

                            	
                              51

                            	 
      
	 
      	 
      	 
      	 
      
	
                              12.1.2

                            	
                              Non-Payment
      of Other Debt

                            	
                              51

                            	 
      
	 
      	 
      	 
      	 
      
	
                              12.1.3

                            	
                              Bankruptcy,
      Insolvency, etc

                            	
                              51

                            	 
      
	 
      	 
      	 
      	 
      
	
                              12.1.4

                            	
                              Non-Compliance
      with Provisions of This Agreement

                            	
                              51

                            	 
      
	 
      	 
      	 
      	 
      
	
                              12.1.5

                            	
                               Representations
      and Warranties

                            	
                              51

                            	 
      
	 
      	 
      	 
      	 
      
	
                              12.1.6

                            	
                              Pension
      Plans

                            	
                              52

                            	 
      
	 
      	 
      	 
      	 
      
	
                              12.1.7

                            	
                              Judgments

                            	
                              52

                            	 
      
	 
      	 
      	 
      	 
      
	
                              12.1.8

                            	
                              Invalidity
      of Subsidiary Guaranty, etc

                            	
                              52

                            	 
      

                    

                  

                

              

            

          

           

          
            
              
              

            

            
              iv

              
                

              

            

            
              
              

            

          

           

          
            
              
                
                  
                    
                      	
                              CONTENTS

                            
	 
      	 
      	 
      	 
      
	
                              Clause

                            	 
      	
                              Page

                            
	 
      	 
      	 
      	 
      
	
                              12.1.9

                            	
                              Invalidity
      of Collateral Documents, etc

                            	
                              52

                            	 
      
	 
      	 
      	 
      	 
      
	
                              12.1.10

                            	
                                Change
      in Control

                            	
                              52

                            	 
      
	 
      	 
      	 
      	 
      
	
                              12.2

                            	
                              Effect
      of Event of Default

                            	
                              53

                            	 
      
	 
      	 
      	 
      	 
      
	
                              SECTION
      13

                            	
                              PARENT
      GUARANTY

                            	
                              53

                            	 
      
	 
      	 
      	 
      	 
      
	
                              13.1

                            	
                              The
      Guaranty

                            	
                              53

                            	 
      
	 
      	 
      	 
      	 
      
	
                              13.2

                            	
                              Guaranty
      Unconditional

                            	
                              53

                            	 
      
	 
      	 
      	 
      	 
      
	
                              13.3

                            	
                              Discharge
      Only Upon Payment In Full; Reinstatement In Certain
      Circumstances

                            	
                              54

                            	 
      
	 
      	 
      	 
      	 
      
	
                              13.4

                            	
                              Waiver
      by the Parent

                            	
                              54

                            	 
      
	 
      	 
      	 
      	 
      
	
                              13.5

                            	
                              Delay
      of Subrogation

                            	
                              54

                            	 
      
	 
      	 
      	 
      	 
      
	
                              13.6

                            	
                              Stay
      of Acceleration

                            	
                              54

                            	 
      
	 
      	 
      	 
      	 
      
	
                              SECTION
      14

                            	
                              THE
      ADMINISTRATIVE AGENT

                            	
                              55

                            	 
      
	 
      	 
      	 
      	 
      
	
                              14.1

                            	
                              Appointment
      and Authorization

                            	
                              55

                            	 
      
	 
      	 
      	 
      	 
      
	
                              14.2

                            	
                              Delegation
      of Duties

                            	
                              55

                            	 
      
	 
      	 
      	 
      	 
      
	
                              14.3

                            	
                              Liability
      of Administrative Agent

                            	
                              55

                            	 
      
	 
      	 
      	 
      	 
      
	
                              14.4

                            	
                              Reliance
      by Administrative Agent

                            	
                              56

                            	 
      
	 
      	 
      	 
      	 
      
	
                              14.5

                            	
                              Notice
      of Default

                            	
                              56

                            	 
      
	 
      	 
      	 
      	 
      
	
                              14.6

                            	
                              Credit
      Decision

                            	
                              57

                            	 
      
	 
      	 
      	 
      	 
      
	
                              14.7

                            	
                              Indemnification

                            	
                              57

                            	 
      
	 
      	 
      	 
      	 
      
	
                              14.8

                            	
                              Administrative
      Agent in Individual Capacity

                            	
                              58

                            	 
      
	 
      	 
      	 
      	 
      
	
                              14.9

                            	
                              Successor
      Administrative Agent

                            	
                              58

                            	 
      
	 
      	 
      	 
      	 
      
	
                              14.10

                            	
                              Withholding
      Tax

                            	
                              59

                            	 
      
	 
      	 
      	 
      	 
      
	
                              14.11

                            	
                              Collateral
      Matters

                            	
                              60

                            	 
      
	 
      	 
      	 
      	 
      
	
                              14.12

                            	
                              Other
      Agents

                            	
                              60

                            	 
      
	 
      	 
      	 
      	 
      
	
                              SECTION
      15

                            	
                              GENERAL

                            	
                              61

                            	 
      
	 
      	 
      	 
      	 
      
	
                              15.1

                            	
                              Waiver;
      Amendments

                            	
                              61

                            	 
      
	 
      	 
      	 
      	 
      
	
                              15.2

                            	
                              Confirmations

                            	
                              61

                            	 
      
	 
      	 
      	 
      	 
      
	
                              15.3

                            	
                              Notices

                            	
                              61

                            	 
      
	 
      	 
      	 
      	 
      
	
                              15.4

                            	
                              Computations

                            	
                              62

                            	 
      
	 
      	 
      	 
      	 
      
	
                              15.5

                            	
                              Regulation
      U

                            	
                              62

                            	 
      
	 
      	 
      	 
      	 
      
	
                              15.6

                            	
                              Costs,
      Expenses and Taxes

                            	
                              62

                            	 
      
	 
      	 
      	 
      	 
      
	
                              15.7

                            	
                              Subsidiary
      References

                            	
                              62

                            	 
      
	 
      	 
      	 
      	 
      
	
                              15.8

                            	
                              Captions

                            	
                              62

                            	 
      
	 
      	 
      	 
      	 
      
	
                              15.9

                            	
                              Assignments;
      Participations

                            	
                              62

                            	 
      
	 
      	 
      	 
      	 
      
	
                              15.9.1

                            	
                              Assignments

                            	
                              63

                            	 
      
	 
      	 
      	 
      	 
      
	
                              15.9.2

                            	
                              Participations

                            	
                              64

                            	 
      

                    

                  

                

              

            

          

           

          
            
              
              

            

            
              v

              
                

              

            

            
              
              

            

          

           

          
            
              
                
                  
                    	
                            CONTENTS

                          
	 
      	 
      	 
      	 
      
	
                            Clause

                          	 
      	
                            Page

                          	 
      
	 
      	 
      	 
      	 
      
	
                            15.10

                          	
                            Governing
      Law

                          	
                            65

                          	 
      
	 
      	 
      	 
      	 
      
	
                            15.11

                          	
                            Counterparts

                          	
                            65

                          	 
      
	 
      	 
      	 
      	 
      
	
                            15.12

                          	
                            Successors
      and Assigns

                          	
                            65

                          	 
      
	 
      	 
      	 
      	 
      
	
                            15.13

                          	
                            Indemnification
      by the Company

                          	
                            65

                          	 
      
	 
      	 
      	 
      	 
      
	
                            15.14

                          	
                            Forum
      Selection and Consent to Jurisdiction

                          	
                            66

                          	 
      
	 
      	 
      	 
      	 
      
	
                            15.15

                          	
                            Waiver
      of Jury Trial

                          	
                            66

                          	 
      
	 
      	 
      	 
      	 
      
	
                            15.16

                          	
                            USA
      PATRIOT ACT NOTICE

                          	
                            66

                          	 
      

                  

                

              

            

          

          

            
              
                 

              

              
                vi

                
                  

                

              

              
                 

              

            

          

           

        

      

    

    SCHEDULES

     

    
      	
              SCHEDULE
      1.1

            	
              Pricing
      Schedule

            

    

    
      	
              SCHEDULE
      2.1

            	
              Lenders
      and Initial Commitments and
Percentages

            

    

    
      	
              SCHEDULE
      9.6

            	
              Litigation
      and Contingent Liabilities

            

    

    
      	
              SCHEDULE
      9.7

            	
              Ownership
      of Properties; Liens

            

    

    
      	
              SCHEDULE
      9.8

            	
              Subsidiaries

            

    

    
      	
              SCHEDULE
      9.14

            	
              Environmental
      Matters

            

    

    
      	
              SCHEDULE
      10.7(h)

            	
              Existing
      Debt

            

    

    
      	
              SCHEDULE
      10.8

            	
              Existing
      Liens

            

    

    
      	
              SCHEDULE
      10.19

            	
              Existing
      Investments

            

    

    
      	
              SCHEDULE
      15.3

            	
              Addresses
      for Notices

            

    

     

    EXHIBITS

     

    
      	
              EXHIBIT
      A

            	
              Form
      of Compliance Certificate

            

    

    
      	
              EXHIBIT
      B

            	
              Copy
      of Subsidiary Guaranty

            

    

    
      	
              EXHIBIT
      C

            	
              Copy
      of Security Agreement

            

    

    
      	
              EXHIBIT
      D

            	
              Copy
      of U.S. Pledge Agreement

            

    

    
      	
              EXHIBIT
      E

            	
              Form
      of Assignment Agreement

            

    

    
      	
              EXHIBIT
      F

            	
              Form
      of Confirmation

            

    

    
      	
              EXHIBIT
      G

            	
              Form
      of Increase Request

            

    

    
      
         

      

      
        vii

        
          

        

      

      
         

      

    

    FOURTH AMENDED AND RESTATED
CREDIT AGREEMENT

     

    This
FOURTH AMENDED AND RESTATED CREDIT AGREEMENT dated as of December 28, 2007 (this
“Agreement”) is
among MIDDLEBY MARSHALL INC., a Delaware corporation (the “Company”), THE
MIDDLEBY CORPORATION, a Delaware corporation (the “Parent”), each
financial institution that from time to time becomes a party hereto as a lender
(each a “Lender”) and BANK OF
AMERICA, N.A. (in its individual capacity, “Bank of America”), as
administrative agent for the Lenders.

     

    WHEREAS,
the Company, the Parent, various financial institutions and Bank of America, as
administrative agent, have entered into a third amended and restated credit
agreement dated as of December 23, 2004 (the “Existing Credit
Agreement”);

     

    WHEREAS,
the parties hereto have agreed to amend and restate the Existing Credit
Agreement pursuant to this Agreement; and

     

    WHEREAS,
the parties hereto intend that this Agreement and the documents executed in
connection herewith not effect a novation of the obligations of the Company and
the Parent under the Existing Credit Agreement, but merely a restatement of and,
where applicable, an amendment to the terms governing such
obligations;

     

    NOW,
THEREFORE, in consideration of the mutual agreements contained herein and for
other good and valuable consideration, the receipt of which are hereby
acknowledged, the parties hereto agree as follows:

     

    SECTION
1   DEFINITIONS.

     

    1.1      Definitions.  When
used herein the following terms shall have the following meanings:

     

    Acquisition means any
transaction or series of related transactions for the purpose of or resulting,
directly or indirectly, in (a) the acquisition of all or substantially all of
the assets of a Person, or of any business or division of a Person, (b) the
acquisition of in excess of 50% of the capital stock, partnership interests,
membership interests or equity of any Person, or otherwise causing any Person to
become a Subsidiary, or (c) a merger or consolidation or any other combination
with another Person (other than a Person that is a Subsidiary).

     

    Administrative Agent
means Bank of America in its capacity as administrative agent for the Lenders
hereunder and any successor thereto in such capacity.

     

    Affected Lender means
any Lender (a) that is a Defaulting Lender and/or (b) that has given notice to
the Company (which has not been rescinded) of (i) any obligation by the
Company to pay any amount pursuant to Section 7.6
or 8.1 or
(ii) the occurrence of any circumstance of the nature described in Section 8.2
or 8.3.

     

    Affiliate of any
Person means (i) any other Person which, directly or indirectly, controls or is
controlled by or is under common control with such Person and (ii) any officer
or director of such Person.

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    

     

    Agent-Related Persons
means Bank of America or any successor agent arising under Section 14.9,
together with their respective Affiliates (including, in the case of Bank of
America, Banc of America Securities LLC), and the officers, directors,
employees, agents and attorneys-in-fact of such Persons and
Affiliates.

     

    Agreement - see the
Preamble.

     

    Assignee - see Section
15.9.1.

     

    Assignment Agreement
- see Section
15.9.1.

     

    Bank of America - see
the Preamble.

     

    Base Rate means at
any time the greater of (a) the Federal Funds Rate plus 0.5% and (b) the
Prime Rate.

     

    Base Rate Loan means
a Loan that bears interest at or by reference to the Base Rate.

     

    Business Day means
any day (other than a Saturday or Sunday) on which Bank of America is open for
commercial banking business in Chicago, Charlotte, Dallas and New York and, in
the case of a Business Day which relates to a Eurodollar Loan, on which dealings
are carried on in the London interbank eurodollar market.

     

    Capital Expenditures
means all expenditures which, in accordance with GAAP, would be required to be
capitalized and shown on the consolidated balance sheet of the Parent, but
excluding expenditures made in connection with (a) the replacement, substitution
or restoration of assets to the extent financed (i) from insurance proceeds (or
other similar recoveries) paid on account of the loss of or damage to the assets
being replaced or restored or (ii) with awards of compensation arising from the
taking by eminent domain or condemnation of the assets being replaced or (b) any
Permitted Acquisition.

     

    Capital Lease means,
with respect to any Person, any lease of (or other agreement conveying the right
to use) any real or personal property by such Person that, in conformity with
GAAP, is or should be accounted for as a capital lease on the balance sheet of
such Person.

     

    Cash Equivalent
Investment means, at any time, (a) any evidence of Debt, maturing not
more than one year after such time, issued or guaranteed by the United States
Government or any agency thereof, (b) commercial paper, maturing not more than
one year from the date of issue, or corporate demand notes, in each case (unless
issued by a Lender or its holding company) rated at least A-l by Standard &
Poor’s Ratings Group or P-l by Moody’s Investors Service, Inc. (or carrying an
equivalent rating by an internationally-recognized rating agency), (c) any
certificate of deposit (or time deposits represented by such certificates of
deposit) or bankers acceptance, maturing not more than one year after such time,
or overnight Federal Funds transactions or money market deposit accounts that
are issued or sold by, or maintained with, a Lender, (d) any repurchase
agreement entered into with any Lender which (i) is secured by a fully perfected
security interest in any obligation of the type described in any of clauses (a) through
(c) and (ii)
has a market value at the time such repurchase agreement is entered into of not
less than 100% of the repurchase obligation of such Lender thereunder, (e)
investments in short-term asset management accounts offered by any Lender for
the purpose of investing in loans to any corporation (other than the Parent or
an Affiliate of the Parent), state or municipality, in each case organized under
the laws of any state of the United States or of the District of Columbia, (f)
securities with maturities of six months or less from the date of acquisition
backed by standby letters of credit issued by any Lender, or (g) shares of money
market mutual or similar funds which invest exclusively in assets satisfying the
requirements of clauses (a) through
(f) of this
definition.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    Change in Control
means an event or series of events by which: (a) any “person” or “group” (as
such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act
of 1934, but excluding any employee benefit plan of the Parent or any
Subsidiary, or any Person acting in its capacity as trustee, agent or other
fiduciary or administrator of any such plan) becomes the “beneficial owner” (as
defined in Rules 13d-3 and 13d-5 under the Securities Exchange Act of 1934,
except that a person shall be deemed to have “beneficial ownership” of all
securities that such person has the right to acquire, whether such right is
exercisable immediately or only after the passage of time), directly or
indirectly, of outstanding shares of voting stock of the Parent in excess of
25%; and (b) individuals who at the Effective Time were directors of the Parent
(the “Incumbent Board”) shall cease for any reason to constitute a majority of
the board of directors of the Parent; provided that any
individual becoming a director subsequent to the Effective Time whose election,
or nomination for election by the Parent’s shareholders, was approved by the
requisite vote of the then Incumbent Board shall be considered as though such
individual were a member of the Incumbent Board, but excluding, for this
purpose, any such individual whose initial assumption of office occurs as a
result of an actual or threatened solicitation of proxies or consents for the
election or removal of one or more directors by any “person” or “group” other
than a solicitation for the election of one or more directors by or on behalf of
the board of directors.

     

    Code means the
Internal Revenue Code of 1986.

     

    Collateral Access
Agreement means an agreement, in form and substance reasonably acceptable
to the Administrative Agent, between the Administrative Agent and a third party
relating to inventory of the Company or any Subsidiary Guarantor located on the
property of such third party.

     

    Collateral Documents
means the U.S. Pledge Agreement, the Security Agreement, each Mortgage and any
other agreement pursuant to which any Loan Party grants collateral to the
Administrative Agent for the benefit of the Lenders.

     

    Commitment means, as
to any Lender, such Lender’s commitment to make Revolving Loans, and to issue or
participate in Letters of Credit and to participate in Swing Line Loans, under
this Agreement.  The amount of the Commitment of each Lender as of the
date of the execution and delivery of this Agreement is set forth across from
such Lender’s name on Schedule
2.1.

     

    Commitment Amount
means $450,000,000, as such amount may be changed from time to time pursuant to
the terms hereof.

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    Commitment Fee Rate -
see Schedule
1.1.

     

    Company - see the
Preamble.

     

    Computation Period
means each period of four consecutive Fiscal Quarters ending on the last day of
a Fiscal Quarter.

     

    Confirmation means a
confirmation agreement substantially in the form of Exhibit
F.

     

    Consolidated Net
Income means, with respect to the Parent and its Subsidiaries for any
period, the net income (or loss) of the Parent and its Subsidiaries for such
period, excluding (a) any
extraordinary gains during such period and (b) any foreign exchange translation
gains or losses that might appear on or be reflected in the consolidated
statement of earnings of the Parent and its Subsidiaries on a consolidated basis
for such period.

     

    Controlled Group
means all members of a controlled group of corporations and all members of a
controlled group of trades or businesses (whether or not incorporated) under
common control which, together with the Parent, are treated as a single employer
under Section 414 of the Code or Section 4001 of ERISA.

     

    Credit Extension
means the making of any Loan or the issuance of, increase in the amount of or
extension of the term of any Letter of Credit.

     

    Debt of any Person
means, without duplication, (a) all indebtedness of such Person for borrowed
money, whether or not evidenced by bonds, debentures, notes or similar
instruments, (b) all obligations of such Person as lessee under Capital Leases
which have been or should be recorded as liabilities on a balance sheet of such
Person in accordance with GAAP, (c) all obligations of such Person to pay the
deferred purchase price of property or services (excluding trade accounts
payable in the ordinary course of business), (d) all indebtedness secured by a
Lien on the property of such Person, whether or not such indebtedness shall have
been assumed by such Person (it being understood that if such Person has not
assumed or otherwise become personally liable for any such indebtedness, the
amount of the Debt of such Person in connection therewith shall be limited to
the lesser of the face amount of such indebtedness or the fair market value of
all property of such Person securing such indebtedness), (e) all obligations,
contingent or otherwise, with respect to the face amount of all letters of
credit (whether or not drawn) and banker’s acceptances issued for the account of
such Person (including the Letters of Credit), (f) all Hedging Obligations of
such Person, (g) all Suretyship Liabilities of such Person in respect of
obligations of the types referred to in clauses (a) through
(f) and (h) all
Debt of any partnership in which such Person is a general partner.

     

    Defaulting Lender
means any Lender that (a) has failed to fund any portion of the Loans,
participations in Letters of Credit or participations in Swing Line Loans
required to be funded by it hereunder within one Business Day of the date
required to be funded by it hereunder, (b) has otherwise failed to pay over to
the Administrative Agent, any Issuing Lender or the Swing Line Lender any other
amount required to be paid by it hereunder within one Business Day of the date
when due, unless the subject of a good faith dispute, or (c) has been deemed
insolvent or become the subject of a bankruptcy or insolvency
proceeding.

     

    
      
        
           

        

        
          4

          
            

          

        

        
           

        

      

    

     

    Dollar and the sign
“$” mean lawful
money of the United States of America.

      

    EBITDA means, for any
period, Consolidated Net Income for such period plus to the extent
deducted in determining such Consolidated Net Income and without duplication,
(i) Interest Expense, non-cash foreign exchange gains and losses, non-cash
equity compensation and non-cash losses with respect to Hedging Obligations,
income tax expense, depreciation and amortization for such period, (ii) all
charges in connection with the refinancing or repayment of Debt under the
Existing Credit Agreement, including the write-off of deferred financing costs,
(iii) the first $5,000,000 of non-recurring charges, fees and expenses incurred
after the date of the Agreement in connection with or relating to acquisitions
or dispositions and (iv) Goodwill Addbacks.

     

    Effective Time - see
Section
11.1.

     

    Eligible Assignee
means (a) a commercial bank organized under the laws of the United States, or
any state thereof, and having a combined capital and surplus of at least
$100,000,000; (b) a commercial bank organized under the laws of any other
country which is a member of the Organization for Economic Cooperation and
Development or a political subdivision of any such country, and having a
combined capital and surplus of at least $100,000,000, provided that such bank
is acting through a branch or agency located in the United States; (c) a Person
that is primarily engaged in the business of commercial banking and that is (i)
a Subsidiary of a Lender, (ii) a Subsidiary of a Person of which a Lender is a
Subsidiary or (iii) a Person of which a Lender is a Subsidiary; and (d) any
other Person approved by the Parent and the Administrative Agent, which
approvals shall not be unreasonably withheld.

     

    Environmental Claims
means all claims, however asserted, by any governmental, regulatory or judicial
authority or other Person alleging potential liability or responsibility for
violation of any Environmental Law, or for release of hazardous substances or
injury to the environment.

     

    Environmental Laws
means all federal, state or local laws, statutes, common law duties, rules,
regulations, ordinances and codes, together with all administrative orders,
directed and enforceable duties, licenses, authorizations and permits of, and
agreements with, any Governmental Authority, in each case relating to
environmental matters.

     

    ERISA means the
Employee Retirement Income Security Act of 1974.

     

    Eurocurrency Reserve
Percentage means, with respect to any Eurodollar Loan for any Interest
Period, a percentage (expressed as a decimal) equal to the daily average during
such Interest Period of the percentage in effect on each day of such Interest
Period, as prescribed by the FRB, for determining the aggregate maximum reserve
requirements applicable to “Eurocurrency Liabilities” pursuant to Regulation D
of the FRB or any other then applicable regulation of the FRB which prescribes
reserve requirements applicable to “Eurocurrency Liabilities” as presently
defined in such Regulation D.

     

    Eurodollar Loan means
a Revolving Loan that bears interest at a rate determined by reference to the
Eurodollar Rate (Reserve Adjusted).

     

    
      Eurodollar Margin -
see Schedule
1.1.

         

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    Eurodollar Office
means with respect to any Lender the office or offices of such Lender which
shall be making or maintaining the Eurodollar Loans of such Lender hereunder or,
in the case of Bank of America, such other office or offices through which it
obtains quotes for purposes of determining the Eurodollar Rate.  A
Eurodollar Office of any Lender may be, at the option of such Lender, either a
domestic or foreign office.

     

    Eurodollar Rate
means, for any Interest Period with respect to a Eurodollar Loan, the rate per
annum equal to the British Bankers Association LIBOR Rate (“BBA LIBOR”), as
published by Reuters (or another commercially available source providing
quotations of BBA LIBOR as designated by the Administrative Agent from time to
time) at approximately 11:00 a.m., London time, two Business Days prior to the
commencement of such Interest Period, for Dollar deposits (for delivery on the
first day of such Interest Period) with a term equivalent to such Interest
Period.  If such rate is not available at such time for any reason, then
the “Eurodollar Rate” for such Interest Period shall be the rate per annum
determined by the Administrative Agent to be the rate at which deposits in
Dollars for delivery on the first day of such Interest Period in same day funds
in the approximate amount of the Eurodollar Loan being made, continued or
converted by Bank of America and with a term equivalent to such Interest Period
would be offered by Bank of America’s London Branch to major banks in the London
interbank eurodollar market at their request at approximately 11:00 a.m. (London
time) two Business Days prior to the commencement of such Interest
Period.

     

    Eurodollar Rate (Reserve
Adjusted) means, with respect to any Eurodollar Loan for any Interest
Period, a rate per annum (rounded upwards, if necessary, to the nearest 1/100 of
1%) determined pursuant to the following formula:

     

    Eurodollar
Rate     =      Eurodollar
Rate

     (Reserve
Adjusted)           
1-Eurocurrency

                 Reserve
Percentage

     

    Event of Default
means any of the events described in Section
12.1.

     

    Exemption
Representation - see Section
7.6(c).

     

    Existing Credit
Agreement - see the recitals.

     

    Existing Lender - see
Section
1.3(b).

     

    Existing Letters of
Credit means the letters of credit outstanding under the Existing Credit
Agreement immediately prior to the amendment and restatement thereof pursuant
hereto.

     

    Existing Loans - see
Section
1.3(b).

     

    Federal Funds Rate
means, for any day, the 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 by
the Federal Reserve Bank of New York on the Business Day next succeeding such
day; provided
that (a) if such day is not a Business Day, the Federal Funds Rate for such day
shall be such rate on such transactions on the next preceding Business Day as so
published on the next succeeding Business Day, and (b) if no such rate is so
published on such next succeeding Business Day, the Federal Funds Rate for such
day shall be the average rate (rounded upward, if necessary, to a whole multiple
of 1/100 of 1%) charged to Bank of America on such day on such transactions as
determined by the Administrative Agent.

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    Fiscal Quarter means
each 13-week period during a Fiscal Year, beginning with the first day of such
Fiscal Year.

     

    Fiscal Year means the
fiscal year of the Company and its Subsidiaries, which period shall be the
12-month period ending on the Saturday closest to December 31 of each
year.  References to a Fiscal Year with a number corresponding to any
calendar year (e.g., “Fiscal Year 2005”) refer to the Fiscal Year ending on the
Saturday closest to December 31 of such calendar year.

     

    Fixed Charge Coverage
Ratio means, as of the last day of any Computation Period, the ratio of
(a) the result of (i) Pro Forma EBITDA for such Computation Period less (ii)
Capital Expenditures for such Computation Period less (iii) cash income tax
expense for such Computation Period less (iv) dividends paid in cash by the
Parent during such Computation Period to (b) the sum of (i) Interest Expense to
the extent payable in cash for such Computation Period plus (ii) the actual
aggregate amount of all scheduled principal payments on Debt (other than Debt
permitted by Section
10.7(l)) made by the Parent and its Subsidiaries during such Computation
Period; provided
that:

     

    (x)           in
calculating Capital Expenditures, capital expenditures of any Person (or
division or similar business unit) acquired by the Parent or any of its
Subsidiaries during such period shall be included on a pro forma basis for such
period and the capital expenditures of any Person (or division or similar
business unit) disposed of by the Parent or any of its Subsidiaries during such
period shall be excluded on a pro forma basis for such period; and

     

    (y)           in
calculating Interest Expense, any Debt incurred or assumed in connection with
any Acquisition shall be assumed to have been incurred or assumed on the first
day of such period and any Debt assumed by any Person (other than the Parent or
any of its Subsidiaries) in connection with the disposition of any Person (or
division or similar business unit) disposed of by the Parent or any of its
Subsidiaries during such period shall be assumed to have been repaid on the
first day of such period.

     

    Foreign Subsidiary
means each Subsidiary of the Parent which is organized under the laws of any
jurisdiction other than, and which is conducting the majority of its business
outside of, the United States or any political subdivision thereof.

     

    FRB means the Board
of Governors of the Federal Reserve System or any successor
thereto.

     

    Fund means any Person
(other than a natural person) that is (or will be) engaged in making,
purchasing, holding or otherwise investing in commercial loans and similar
extensions of credit in the ordinary course of its business.

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    Funded Debt means all
Debt of the Parent and its Subsidiaries, excluding (i) contingent obligations in
respect of undrawn letters of credit and Suretyship Liabilities (except, in each
case, to the extent constituting Suretyship Liabilities in respect of Debt of a
Person other than the Company or any Subsidiary), (ii) Hedging Obligations,
(iii) Debt of the Company to Subsidiaries and Debt of Subsidiaries to the
Company or to other Subsidiaries and (iv) Debt of Parent to the
Company.

     

    GAAP means generally
accepted accounting principles set forth from time to time in the opinions and
pronouncements of the Accounting Principles Board and the American Institute of
Certified Public Accountants and statements and pronouncements of the Financial
Accounting Standards Board (or agencies with similar functions of comparable
stature and authority within the U.S. accounting profession), which are
applicable to the circumstances as of the date of determination.

     

    Goodwill Addbacks
means the first $50,000,000 in the aggregate of (a) non-cash impairment charges
and asset write-offs taken by the Company and its Subsidiaries after the
Effective Date pursuant to Financial Accounting Standards Board Statement No.
142 ("Goodwill and Other Intangible Assets") or Financial Accounting Standards
Board Statement No. 144 ("Accounting for the Impairment or Disposal of
Long-Lived Assets") and (b) the amortization of intangibles by the Company and
its Subsidiaries after the Effective Date pursuant to Financial Accounting
Standards Board Statement No. 141 ("Business Combinations").

     

    Governmental
Authority means any nation or government, any state or other political
subdivision thereof, any central bank (or similar monetary or regulatory
authority), any entity exercising executive, legislative, judicial, regulatory
or administrative functions of government.

     

    Group - see Section
2.2.1.

     

    Guaranteed
Obligations means (a) all obligations of the Company to the
Administrative Agent or any Lender, howsoever created, arising or evidenced,
whether direct or indirect, absolute or contingent, now or hereafter existing,
or due or to become due, which arise under this Agreement or any other Loan
Document (including with respect to the obligations described in Section 2.3.3) and
(b) all Hedging Obligations of the Company to any Lender or any affiliate of a
Lender.

     

    Hedging Agreements
means any interest rate, currency or commodity swap agreement, cap agreement or
collar agreement, and any other agreement or arrangement designed to protect
such Person against fluctuations in interest rates, currency exchange rates or
commodity prices.

     

    Hedging Obligations
means, with respect to any Person, all liabilities of such Person under Hedging
Agreements.

     

    Honor Date – see
Section
2.3.3.

     

    Immaterial Law means
any provision of any Environmental Law the violation of which will not (a)
violate any judgment, decree or order which is binding upon the Parent or any
Subsidiary, (b) result in or threaten any injury to public health or the
environment or any material damage to the property of any Person or (c) result
in any liability or expense (other than any de minimis liability or expense) for
the Parent or any Subsidiary; provided that no provision of any Environmental
Law shall be an Immaterial Law if the Administrative Agent has notified the
Parent or the Company that the Required Lenders have determined in good faith
that such provision is material.

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    Indemnified
Liabilities means, with respect to any Person entitled to indemnification
hereunder, any and all actions, causes of action, suits, losses, liabilities,
damages and expenses (excluding taxes and related costs but including reasonable
attorneys’ fees and charges and, without duplication, the reasonable allocated
costs, and all reasonable disbursements, of internal counsel) incurred by such
Person as a result of (a) any Acquisition, merger or similar transaction
financed or proposed to be financed in whole or in part, directly or indirectly,
with the proceeds of any Loan, (b) the execution, delivery, performance or
enforcement of this Agreement or any other Loan Document (without duplication of
costs and expenses specifically referred to in Section 15.6 and
related taxes and other amounts), (c) any investigation, litigation or
proceeding (including any proceeding under any bankruptcy or insolvency law and
any appellate proceeding) related to this Agreement, the Commitments, the Loans
or the use of the proceeds thereof, the Letters of Credit or any transaction or
event related to any of the foregoing, whether or not such Person is a party
thereto, (d) the use, handling, release, emission, discharge, transportation,
storage, treatment or disposal of any hazardous substance at any property owned,
operated or leased by any Loan Party, (e) any violation of any Environmental
Laws resulting from, or related to, conditions at any property owned, operated
or leased by any Loan Party or the operations conducted thereon, (f) the
investigation, cleanup or remediation of offsite locations at which any Loan
Party or any of its predecessors in interest is alleged to have, directly or
indirectly, disposed of hazardous substances or (g) any Environmental Claim
asserted against any Loan Party or related to any property owned, operated or
leased by any Loan Party, except (in each case) to the extent that any of the
foregoing resulted from such indemnified Person’s gross negligence or willful
misconduct.

     

    Interest Expense
means, for any Computation Period, the consolidated interest expense of the
Parent and its Subsidiaries for such Computation Period (including all imputed
interest on Capital Leases).

     

    Interest Period
means, as to any Eurodollar Loan, the period commencing on the date such Loan is
borrowed or continued as, or converted into, a Eurodollar Loan and ending on the
date one week or one, two, three, six or, if available to all Lenders, twelve
months thereafter, as selected by the Company pursuant to Section 2.2.2 or
2.2.3; provided
that:

     

    (i)           if
any Interest Period would otherwise end on a day that is not a Business Day,
such Interest Period shall be extended to the following 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 preceding
Business Day;

     

    (ii)         any
Interest Period for a Eurodollar Loan that begins 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 the calendar month at the end of
such Interest Period;

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

     

    (iii)         the
Company may not select any Interest Period for any Revolving Loan which would
extend beyond the scheduled Termination Date; and

     

    Investment means,
relative to any Person, (a) any loan or advance made by such Person to any other
Person (excluding prepaid expenses in the ordinary course of business, accounts
receivable arising in the ordinary course of business and commission, travel,
relocation or similar loans or advances made to directors, officers and
employees of the Parent or any of its Subsidiaries), (b) any Suretyship
Liability of such Person with respect to the obligations of another Person, (c)
any ownership or similar interest held by such Person in any other Person and
(d) deposits and the like relating to prospective Acquisitions.

     

    ISP means, with
respect to any Letter of Credit, the “International Standby Practices 1998”
published by the Institute of International Banking Law & Practice (or such
later version thereof as may be in effect at the time of issuance).

     

    Issuing Lender means
Bank of America in its capacity as an issuer of Letters of Credit hereunder and
any other Lender which, with the written consent of the Company and the
Administrative Agent (such consents not to be unreasonably withheld), is the
issuer of one or more Letters of Credit.

     

    L/C Application
means, with respect to any request for the issuance of a Letter of Credit, a
letter of credit application in the form being used by the applicable Issuing
Lender at the time of such request for the type of letter of credit requested;
provided that
to the extent any such letter of credit application is inconsistent with any
provision of this Agreement, the applicable provision of this Agreement shall
control.

     

    LC Fee Rate - see
Schedule
1.1.

     

    Lead Arranger means
Banc of America Securities LLC in its capacity as arranger of the facilities
hereunder.

     

    Lender - see the
Preamble. 
References to the “Lenders” shall include the Issuing Lenders and the Swing Line
Lender; for purposes of clarification only, to the extent that Bank of America
(or any other Issuing Lender or successor Swing Line Lender) may have rights or
obligations in addition to those of the other Lenders due to its status as an
Issuing Lender or as Swing Line Lender, its status as such will be specifically
referenced.

     

    Lender Party - see
Section
15.13.

     

    Letter of Credit -
see Section
2.1.2.

     

    Leverage Ratio means,
as of the last day of any Fiscal Quarter, the ratio of (i) Funded Debt as of
such day to (ii) Pro Forma EBITDA for the Computation Period ending on such
day.

     

    Lien means, with
respect to any Person, any interest granted by such Person in any real or
personal property, asset or other right owned or being purchased or acquired by
such Person which secures payment or performance of any obligation and shall
include any mortgage, lien, encumbrance, charge or other security interest of
any kind, whether arising by contract, as a matter of law, by judicial process
or otherwise.

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

     

    Loan means a
Revolving Loan or a Swing Line Loan.

     

    Loan Documents means
this Agreement, the Subsidiary Guaranty, the Confirmation, the L/C Applications
and the Collateral Documents.

     

    Loan Parties means
the Parent, the Company and each Subsidiary Guarantor, and “Loan Party” means
any of them.

     

    Margin Stock means
any “margin stock” as defined in Regulation U of the FRB.

     

    Material Adverse
Effect means (a) a material adverse change in, or a material adverse
effect upon, the business, assets, operations, condition (financial or
otherwise) or prospects of the Parent and its Subsidiaries taken as a whole, or
(b) a material adverse effect upon any substantial portion of the collateral
under the Collateral Documents or upon the legality, validity, binding effect or
enforceability against any Loan Party of any Loan Document (other than as a
result of a Person ceasing to be a Loan Party as a result of a transaction
permitted hereunder).

     

    Merger Sub means New
Cardinal Acquisition Sub Inc., a Delaware corporation.

     

    Mortgage means a
mortgage, deed of trust, leasehold mortgage or similar instrument granting the
Administrative Agent a Lien on real property owned or leased by the Company or
any Subsidiary Guarantor.

     

    Multiemployer Pension
Plan means a multiemployer plan, as such term is defined in Section
4001(a)(3) of ERISA, and to which the Company or any member of the Controlled
Group may have any liability.

     

    Parent - see the
Preamble.

     

    Parent Guaranty means
the guaranty of the Parent set forth in Section
13.

     

    Participant - see
Section
15.9.2.

     

    PBGC means the
Pension Benefit Guaranty Corporation and any entity succeeding to any or all of
its functions under ERISA.

     

    Pension Plan means a
“pension plan”, as such term is defined in Section 3(2) of ERISA, which is
subject to Title IV of ERISA (other than a Multiemployer Pension Plan), and to
which the Company or any member of the Controlled Group may have any liability,
including any liability by reason of having been a substantial employer within
the meaning of Section 4063 of ERISA at any time during the preceding five
years, or by reason of being deemed to be a contributing sponsor under Section
4069 of ERISA.

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    Percentage means, as
to any Lender at any time, the percentage that (a) the Commitment of such Lender
(or, after termination of the Commitments, the outstanding principal amount of
such Lender’s Revolving Loans plus the amount of such Lender’s participations in
the principal amount of all Swing Line Loans and the Stated Amount of all
Letters of Credit) at such time is of (b) the Commitment Amount (or, after
termination of the Commitments, the Total Outstandings) at such time.  The
initial Percentage of each Lender is set forth across from such Lender’s name on
Schedule 2.1;
provided that
if and so long as any Lender is a Defaulting Lender, such Lender’s Percentage
shall be deemed for purposes of this definition to be reduced to the extent of
the defaulted amount and the Percentage of the applicable Issuing Lender or the
Swing Line Lender, as applicable, shall be deemed for purposes of this
definition to be increased to the extent the Defaulting Lender has failed to
make required payments to the Issuing Lender or Swing Line Lender, as the case
may be.

     

    Permitted Acquisition
means (a) the acquisition of the Target pursuant to the Star Acquisition
Agreement; (b) any Acquisition by the Company or any wholly-owned Subsidiary
where (i) the assets acquired are for use in, or the Person acquired is engaged
in, business activities permitted under Section 10.18; (ii)
immediately before or after giving effect to such Acquisition, no Event of
Default or Unmatured Event of Default shall have occurred and be continuing;
(iii) if the aggregate consideration paid by the Company and its Subsidiaries
(including any Debt assumed or issued in connection therewith, the amount
thereof to be calculated in accordance with GAAP, but excluding (x) any common
stock of the Parent or (y) any cash received substantially concurrently with
such Acquisition from the issuance of any common stock of the Parent) in
connection with such Acquisition (or any series of related Acquisitions) exceeds
$10,000,000, the Company shall have delivered to the Administrative Agent pro
forma financial statements giving effect to such Acquisition, which financial
statements shall (A) detail any related acquisition adjustments and add-backs to
be used to calculate Pro Forma EBITDA and (B) confirm compliance with clause (ii) above
after giving effect to the Acquisition; (iv) the total cash consideration will
not exceed 1.5x the Parent’s Pro Forma EBITDA (before giving effect to the
Acquisition) for the most recently completed period of four consecutive quarters
for which financial statements are available; and (v) the board of directors (or
similar governing body) of the Person to be acquired shall have approved such
Acquisition.

     

    Person means any
natural person, corporation, partnership, trust, limited liability company,
association, Governmental Authority or unit, or other entity, whether acting in
an individual, fiduciary or other capacity.

     

    Prime Rate means, for
any day, the rate of interest in effect for such day as publicly announced from
time to time by Bank of America in Charlotte, North Carolina, as its “prime
rate”.  (The “prime rate” is a rate set by Bank of America based upon
various factors, including Bank of America’s costs and desired return, general
economic conditions and other factors, and is used as a reference point for
pricing some loans, which may be priced at, above, or below such announced
rate.)  Any change in the “prime rate” announced by Bank of America shall
take effect at the opening of business on the day specified in the public
announcement of such change.

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    Pro Forma EBITDA
means, for any period, EBITDA for such period adjusted as follows:

     

    (i)           the
consolidated net income of any Person (or business unit) acquired by the Company
or any Subsidiary during such period (plus, to the extent deducted in
determining such consolidated net income, interest expense, income tax expense,
depreciation and amortization of such Person) shall be included on a pro forma basis for such
period (assuming the consummation of each such Acquisition and the incurrence or
assumption of any Debt in connection therewith occurred on the first day of such
period) based upon (x) to the extent available, (I) the audited consolidated
balance sheet of such acquired Person and its consolidated Subsidiaries (or such
business unit) as at the end of the fiscal year of such Person (or business
unit) preceding such Acquisition and the related audited consolidated statements
of income, stockholders’ equity and cash flows for such fiscal year and (II) any
subsequent unaudited financial statements for such Person (or business unit) for
the period prior to such Acquisition so long as such statements were prepared on
a basis consistent with the audited financial statements referred to above or
(y) to the extent the items listed in clause (x) are not
available, such historical financial statements and other information as is
disclosed to, and reasonably approved by, the Required Lenders; and

     

    (ii)          the
consolidated net income of any Person (or division or similar business unit)
disposed of by the Parent, the Company or any Subsidiary during such period
(plus, to the extent deducted in determining such consolidated net income,
interest expense, income tax expense, depreciation and amortization of such
Person (or division or business unit)) shall be excluded on a pro forma basis for such
period (assuming the consummation of such disposition occurred on the first day
of such period).

     

    Required Lenders
means Lenders having an aggregate Percentage of more than 50%; provided that the
Commitments of, and (except as set forth in the definition of Percentage) the
portion of the Total Outstandings held or deemed held by, any Defaulting Lender
shall be excluded for purposes of making a determination of Required
Lenders.

     

    Responsible Financial
Officer means, as to any Person, the chief financial officer, the
treasurer or the controller of such Person.

     

    Responsible Officer
means, as to any Person, the chief executive officer, president, any vice
president, or any Responsible Financial Officer of such Person.

     

    Revolving Loan - see
Section
2.1.1.

     

    SEC means the
Securities and Exchange Commission, or any governmental agency succeeding to any
of its principal functions.

     

    Security Agreement
means the security agreement among the Parent, the Company, the Subsidiary
Guarantors and the Administrative Agent, a copy of which is attached as Exhibit
C.

     

    Star Acquisition
Agreement means the Agreement and Plan of Merger dated as of November 18,
2007 among the Company, the Merger Sub, the Target and Weston Presidio Capital
IV, L.P., including all schedules, annexes and exhibits thereto.

     

    Star Merger means the
merger of Merger Sub with and into the Target pursuant to the Star Acquisition
Agreement.

     

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

     

    Star Termination
means a “standard termination” pursuant to Section 4041(b) of ERISA of the Star
Manufacturing Salaried and Non-Union Hourly Employees Defined Benefit Pension
Plan so long as the aggregate amount of all payments required to be made by the
Parent and its Subsidiaries to cover any shortfall in the plan assets of such
Pension Plan does not exceed $5,000,000.

     

    Stated Amount means,
with respect to any Letter of Credit at any date of determination, the maximum
aggregate amount available for drawing thereunder at any time during the
remaining term of such Letter of Credit under any and all circumstances
(including after giving effect to any increase therein that may be required by
the terms thereof), plus the aggregate amount of all unreimbursed payments and
disbursements under such Letter of Credit.

     

    Subordinated Debt
means Debt of the Company or the Parent which has maturities and other terms,
and which is subordinated to the obligations of the Company  and its
Subsidiaries and the Parent, to the extent applicable, hereunder and under the
other Loan Documents in a manner, approved in writing by the Required
Lenders.

     

    Subsidiary means,
with respect to any Person, a corporation, partnership, limited liability
company or other entity of which such Person and/or its other Subsidiaries own,
directly or indirectly, such number of outstanding shares or other ownership
interests as have more than 50% of the ordinary voting power for the election of
directors or other managers of such entity.  Unless the context otherwise
requires, each reference to Subsidiaries herein shall be a reference to
Subsidiaries of the Parent.

     

    Subsidiary Guarantor
means, on any day, each Subsidiary that has executed a counterpart of the
Subsidiary Guaranty on or prior to that day (or is required to execute a
counterpart of the Subsidiary Guaranty on that date) and that has not been
released therefrom in accordance with the terms hereof.

     

    Subsidiary Guaranty
means the guaranty issued by various Subsidiaries of the Company, a copy of
which is attached as Exhibit
B.

     

    Suretyship Liability
means any agreement, undertaking or arrangement by which any Person guarantees,
endorses or otherwise becomes or is contingently liable upon (by direct or
indirect agreement, contingent or otherwise, to provide funds for payment, to
supply funds to or otherwise to invest in a debtor, or otherwise to assure a
creditor against loss) any indebtedness, obligation or other liability of any
other Person (other than (a) customary indemnification obligations arising in
the ordinary course of business under leases and other contracts and (b) by
endorsements of instruments for deposit or collection in the ordinary course of
business), or guarantees the payment of dividends or other distributions upon
the shares of any other Person.  The amount of any Person’s obligation in
respect of any Suretyship Liability shall (subject to any limitation set forth
therein) be deemed to be the lesser of (i) the principal amount of the debt,
obligation or other liability supported thereby and (ii) the maximum amount for
which such Person may be liable pursuant to the terms of the instrument
embodying such Suretyship Liability, unless such primary obligation and the
maximum amount for which such Person may be liable are not stated or
determinable, in which case the amount of such Suretyship Liability shall be
such Person’s maximum reasonably anticipated liability in respect thereof as
determined by such Person in good faith.

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

     

    Swing Line Lender
means Bank of America in its capacity as swing line lender hereunder, together
with any replacement swing line lender arising under Section
14.9.

     

    Swing Line Loan - see
Section
2.4.1.

     

    Target means New Star
International Holdings, Inc., a Delaware corporation.

     

    Termination Date
means the earlier to occur of (a) December 28  ], 2012 and (b)
such other date on which the Commitments terminate pursuant to Section 6 or 12.

     

    Total Outstandings means,
at any time, the aggregate outstanding principal amount of all Revolving Loans
and Swing Line Loans plus the aggregate Stated Amount of all Letters of
Credit.

     

    Type of Loan or
borrowing - see Section 2.2.1. 
The types of Loans or borrowings under this Agreement are as follows:  Base
Rate Loans or borrowings and Eurodollar Loans or borrowings.

     

    Unmatured Event of
Default means any event that, if it continues uncured, will, with lapse
of time or the giving of notice or both, constitute an Event of
Default.

     

    Unreimbursed Amount –
see Section
2.3.3.

     

    Unrestricted Margin
Stock means treasury stock of the Company.

     

    U.S. Pledge Agreement
means the pledge agreement among the Parent, the Company, various domestic
Subsidiaries and the Administrative Agent, a copy of which is attached as Exhibit
D.

     

    1.2      Other Interpretive
Provisions.  (a) The meanings of defined terms are equally
applicable to the singular and plural forms of the defined terms.

     

    (b)      Section, Schedule and Exhibit references
are to this Agreement unless otherwise specified.

     

    (c)       The
term “including” is not limiting and means “including without
limitation.”

     

    (d)       In
the computation of periods of time from a specified date to a later specified
date, the word “from” means “from and including”; the words “to” and “until”
each mean “to but excluding”, and the word “through” means “to and
including.”

     

    (e)       Unless
otherwise expressly provided herein, (i) references to agreements (including
this Agreement), other contractual instruments and organizational documents
shall be deemed to include all subsequent amendments, restatements and other
modifications thereto, but only to the extent such amendments and other
modifications are not prohibited by the terms of any Loan Document, and (ii)
references to any statute or regulation are to be construed as including all
statutory and regulatory provisions consolidating, amending, replacing,
supplementing or interpreting such statute or regulation.

    
      
         

      

      
        15

        
          

        

      

      
         

      

    

     

    (f)       This
Agreement and the other Loan Documents may use several different limitations,
tests or measurements to regulate the same or similar matters.  All such
limitations, tests and measurements are cumulative and shall each be performed
in accordance with their terms.

     

    (g)       This
Agreement and the other Loan Documents are the result of negotiations among and
have been reviewed by counsel to the Administrative Agent, the Company, the
Lenders and the other parties thereto and are the products of all parties. 
Accordingly, they shall not be construed against the Administrative Agent or the
Lenders merely because of the Administrative Agent’s or Lenders’ involvement in
their preparation.

     

    (h)       Unless
otherwise specified, each reference to a time of day means such time in Chicago,
Illinois.

     

    1.3       Allocation of Loans and
Percentages at the Effective Time.

     

    (a)       The
Company and each Lender agree that, effective at the Effective Time, (i) this
Agreement shall amend and restate in its entirety the Existing Credit Agreement
and (ii) the outstanding Loans thereunder (and the participations in Letters of
Credit and Swing Line Loans thereunder), shall be allocated among the Lenders in
accordance with their respective Percentages.

     

    (b)       To
facilitate the allocation described in clause (a), at the
Effective Time, (i) all “Revolving Loans” under the Existing Credit Agreement
(“Existing
Loans”) shall be deemed to be Revolving Loans, (ii) each Lender which is
a party to the Existing Credit Agreement (an “Existing Lender”)
shall transfer to the Administrative Agent an amount equal to the excess, if
any, of such Lender’s pro rata share (according to its Percentage) of the
outstanding Revolving Loans hereunder (including any Revolving Loans made at the
Effective Time) over the amount of all of such Lender’s Existing Loans, (iii)
each Lender which is not a party to the Existing Credit Agreement shall transfer
to the Administrative Agent an amount equal to such Lender’s pro rata share
(according to its Percentage) of the outstanding Revolving Loans hereunder
(including any Revolving Loans made at the Effective Time), (iv) the
Administrative Agent shall apply the funds received from the Lenders pursuant to
clauses (ii)
and (iii),
first, on behalf of the Lenders (pro rata according to the amount of the
applicable Existing Loans each is required to purchase to achieve the allocation
described in clause
(a)), to purchase from each Existing Lender which has Existing Loans in
excess of such Lender’s pro rata share (according to its Percentage) of the
outstanding Revolving Loans hereunder (including any Revolving Loans made at the
Effective Time), a portion of such Existing Loans equal to such excess, second,
to pay to each Existing Lender all interest, fees and other amounts (including
amounts payable pursuant to Section 8.4 of the Existing Credit Agreement,
assuming for such purpose that the Existing Loans were prepaid rather than
allocated at the Effective Time) owed to such Existing Lender under the Existing
Credit Agreement (whether or not otherwise then due) and, third, as the Company
shall direct, and (v) all Revolving Loans shall commence new Interest Periods in
accordance with elections made by the Company at least three Business Days prior
to the date of the Effective Time pursuant to the procedures applicable to
conversions and continuations set forth in Section 2.2.3 (all as
if the Existing Loans were continued or converted at the Effective Time). 
To the extent the Company fails to make a timely election pursuant to clause (v) of the
preceding sentence with respect to any Revolving Loans, such Loans shall be Base
Rate Loans.

    
      
         

      

      
        16

        
          

        

      

      
         

      

    

     

    SECTION
2      COMMITMENTS OF THE LENDERS; BORROWING AND
CONVERSION PROCEDURES; LETTER OF CREDIT PROCEDURES; SWING LINE
LOANS.

     

    2.1       Commitments.  On
and subject to the terms and conditions of this Agreement, each of the Lenders,
severally and for itself alone, agrees to make and/or participate in Credit
Extensions to the Company as follows:

     

    2.1.1    Revolving
Loans.  Each Lender will make loans on a revolving basis to the
Company (“Revolving
Loans”) from time to time before the Termination Date in such Lender’s
Percentage of such aggregate amounts as the Company may from time to time
request from all Lenders (it being understood that effective at the Effective
Time (and after giving effect to the transactions contemplated by Section 1.3), each
Lender shall have outstanding Revolving Loans in an amount equal to its
Percentage of the aggregate amount of all outstanding Revolving Loans); provided that the
Total Outstandings shall not at any time exceed the Commitment Amount. 
Amounts borrowed under this Section may be repaid and thereafter reborrowed
until the Termination Date.

     

    2.1.2    L/C Commitment. 
(a) The Issuing Lenders will issue standby and commercial letters of credit, in
each case containing such terms and conditions as are permitted by this
Agreement and are reasonably satisfactory to the applicable Issuing Lender and
the Company (collectively with the Existing Letters of Credit, each a “Letter of Credit”),
at the request of and for the account of the Company (or jointly for the account
of the Company and (i) the Parent or (ii) any Subsidiary of the Company) from
time to time before the date which is 30 days prior to the scheduled Termination
Date, and (b) as more fully set forth in Section 2.3,
each Lender agrees to purchase a participation in each such Letter of Credit;
provided that
(x) the aggregate Stated Amount of all Letters of Credit shall not at any time
exceed $25,000,000 and (y) the Total Outstandings shall not at any time exceed
the Commitment Amount.

     

    2.2       Loan
Procedures.

     

    2.2.1    Various Types of
Loans.  Each Revolving Loan shall be either a Base Rate Loan or a
Eurodollar Loan (each a “type” of Loan), as
the Company shall specify in the related notice of borrowing or conversion
pursuant to Section 2.2.2
or 2.2.3. 
Eurodollar Loans having the same Interest Period are sometimes called a “Group” or
collectively “Groups”.  Base
Rate Loans and Eurodollar Loans may be outstanding at the same time; provided that (i) not
more than 10 different Groups of Eurodollar Loans shall be outstanding at any
one time and (ii) the aggregate principal amount of each Group of Eurodollar
Loans shall at all times be at least $3,000,000 and an integral multiple of
$500,000.  All borrowings, conversions and repayments of Loans shall be
effected so that each Lender will have a pro rata share (according to its
Percentage) of all types and Groups of Revolving Loans.

    
      
         

      

      
        17

        
          

        

      

      
         

      

    

     

    2.2.2   Borrowing
Procedures.  The Company shall give written notice or
telephonic notice (followed promptly by written confirmation thereof) to the
Administrative Agent of each proposed borrowing of Revolving Loans not later
than (a) in the case of a Base Rate borrowing, 10:00 A.M. on the proposed
date of such borrowing, and (b) in the case of a Eurodollar Rate borrowing,
10:00 A.M. at least three Business Days prior to the proposed date of such
borrowing.  Each such notice shall be effective upon receipt by the
Administrative Agent, shall be irrevocable, and shall specify the date, amount
and type of borrowing and, in the case of a Eurodollar Rate borrowing, the
initial Interest Period therefor.  Promptly upon receipt of such notice,
the Administrative Agent shall advise each Lender thereof.  Not later than
1:00 p.m. on the date of a proposed borrowing, each Lender shall provide the
Administrative Agent at the office specified by the Administrative Agent with
immediately available funds covering such Lender’s Percentage of such borrowing
and, so long as the Administrative Agent has not received written notice that
the conditions precedent set forth in Section 11 with
respect to such borrowing have not been satisfied, the Administrative Agent
shall pay over the requested amount to the Company on the requested borrowing
date.  Each borrowing shall be on a Business Day.  Each 
borrowing of Revolving Loans shall be in an aggregate amount of at least
$1,000,000 and an integral multiple of $100,000.

     

    2.2.3 
 Conversion and
Continuation Procedures.  (a) Subject to the provisions of Section 2.2.1, the
Company may, upon irrevocable written notice to the Administrative Agent in
accordance with clause
(b) below:

     

    (i)           elect,
as of any Business Day, to convert any outstanding Revolving Loan into a Loan of
the other type; or

     

    (ii)          elect,
as of the last day of the applicable Interest Period, to continue any Group of
Eurodollar Loans having an Interest Period expiring on such day (or any part
thereof in an aggregate amount not less than $3,000,000 or a higher integral
multiple of $500,000) for a new Interest Period.

     

    (b)  
       The Company shall give written or
telephonic (followed promptly by written confirmation thereof) notice to the
Administrative Agent of each proposed conversion or continuation not later than
(i) in the case of conversion into Base Rate Loans, 10:00 a.m. on the proposed
date of such conversion; and (ii) in the case of a conversion into or
continuation of Eurodollar Loans, 10:00 a.m. at least three Business Days prior
to the proposed date of such conversion or continuation, specifying in each
case:

     

    
      	
               
      

            	
              (1)

            	
              the
      proposed date of conversion or
continuation;

            

    

     

    
      	
               
      

            	
              (2)

            	
              the
      aggregate amount of Revolving Loans to be converted or
      continued;

            

    

     

    
      	
               
      

            	
              (3)

            	
              the
      type of Revolving Loans resulting from the proposed conversion or
      continuation; and

            

    

     

    
      	
               
      

            	
              (4)

            	
              in
      the case of conversion into, or continuation of, Eurodollar Loans, the
      duration of the requested Interest Period
  therefor.

            

    

     

    (c)          If
upon expiration of any Interest Period applicable to any Eurodollar Loan, the
Company has failed to select timely a new Interest Period to be applicable to
such Eurodollar Loan, the Company shall be deemed to have elected to convert
such Eurodollar Loan into a Base Rate Loan effective on the last day of such
Interest Period.

    
      
         

      

      
        18

        
          

        

      

      
         

      

    

     

    (d)       The
Administrative Agent will promptly notify each Lender of its receipt of a notice
of conversion or continuation pursuant to this Section 2.2.3 or, if
no timely notice is provided by the Company, of the details of any automatic
conversion.

     

    (e)       Unless
the Required Lenders otherwise consent, the Company may not elect to have a Loan
converted into or continued as a Eurodollar Loan during the existence of any
Event of Default or Unmatured Event of Default.

     

    2.3       Letter of Credit
Procedures.

     

    2.3.1    L/C
Applications.  The Company shall give notice to the
Administrative Agent and the applicable Issuing Lender of the proposed issuance
of each Letter of Credit on a Business Day which is at least three Business Days
(or such lesser number of days as the Administrative Agent and such Issuing
Lender shall agree in any particular instance) prior to the proposed date of
issuance of such Letter of Credit.  Each such notice shall be accompanied
by an L/C Application, duly executed by the Company and in all respects
reasonably satisfactory to the Administrative Agent and the applicable Issuing
Lender, together with such other documentation as the Administrative Agent or
such Issuing Lender may reasonably request in support thereof, it being
understood that each L/C Application shall specify, among other things, the date
on which the proposed Letter of Credit is to be issued, the expiration date of
such Letter of Credit (which shall not be later than seven days prior to the
scheduled Termination Date) and whether such Letter of Credit is to be
transferable.  So long as the applicable Issuing Lender has not received
written notice from any party to this Agreement that (a) the conditions
precedent set forth in Section 11 with
respect to the issuance of such Letter of Credit have not been satisfied, (b)
any Lender has failed to comply with its obligation to fund a participation
under Section
2.3.5 or (c) any Lender is at such time a Defaulting Lender (unless, in
the case of clause
(c), the applicable Issuing Lender has entered into reasonably
satisfactory arrangements with the Company or the applicable Defaulting Lender
to eliminate such Issuing Lender’s risk with respect to such Defaulting Lender),
such Issuing Lender shall issue such Letter of Credit on the requested issuance
date.  Each Issuing Lender shall promptly advise the Administrative Agent
of the issuance of each Letter of Credit by such Issuing Lender and of any
amendment thereto, extension thereof or event or circumstance changing the
amount available for drawing thereunder.  Notwithstanding the foregoing or
any other provision of this Agreement, no Issuing Lender shall be under any
obligation to issue any Letter of Credit if:

     

    
      	
               
      

            	
              (i)

            	
              any
      order, judgment or decree of any Governmental Authority or arbitrator
      shall by its terms purport to enjoin or restrain such Issuing Lender from
      issuing such Letter of Credit, or any law applicable to such Issuing
      Lender or any request or directive (whether or not having the force of
      law) from any Governmental Authority with jurisdiction over such Issuing
      Lender shall prohibit, or request that such Issuing Lender refrain from,
      the issuance of letters of credit generally or such Letter of Credit in
      particular or shall impose upon such Issuing Lender with respect to such
      Letter of Credit any restriction, reserve or capital requirement (for
      which such Issuing Lender is not otherwise compensated hereunder) not in
      effect at the Effective Time, or shall impose upon such Issuing Lender any
      unreimbursed loss, cost or expense that was not applicable at the
      Effective Time and that such Issuing Lender in good faith deems material
      to it; or

            

    

    
      
         

      

      
        19

        
          

        

      

      
         

      

    

    

    
      	
               
      

            	
              (ii)

            	
              the
      issuance of such Letter of Credit would violate one or more policies of
      such Issuing Lender applicable to letters of credit
    generally.

            

    

    

    2.3.2   Participations in Letters of
Credit.  Concurrently with the issuance of each Letter of Credit,
the applicable Issuing Lender shall be deemed to have sold and transferred to
each other Lender, and each other Lender shall be deemed irrevocably and
unconditionally to have purchased and received from such Issuing Lender, without
recourse or warranty, an undivided interest and participation, to the extent of
such other Lender’s Percentage, in such Letter of Credit and the Company’s
reimbursement obligations with respect thereto.  For the purposes of this
Agreement, the unparticipated portion of each Letter of Credit shall be deemed
to be the applicable Issuing Lender’s “participation” therein.

     

    2.3.3   Reimbursement
Obligations.  The Company hereby unconditionally and irrevocably
agrees to reimburse the applicable Issuing Lender through the Administrative
Agent for each payment or disbursement made by such Issuing Lender under any
Letter of Credit honoring any demand for payment made by the beneficiary
thereunder, in each case by noon on the date that such payment or disbursement
is made (the “Honor
Date”) or, if the Company does not receive notice of such payment by
10:00A.M. on the Honor Date, by noon on the Business Day following the Honor
Date.  If the Company fails to reimburse the L/C Issuer by the date and
time specified in the preceding sentence, the Administrative Agent shall
promptly notify each Lender of the amount of the unreimbursed drawing (the
“Unreimbursed
Amount”) and the amount of such Lender’s Percentage thereof.  In
such event, the Company shall be deemed to have requested a borrowing of
Revolving Loans to be disbursed on such date in an amount equal to such
Unreimbursed Amount, without regard to the minimum and multiples specified in
Section 2.2 for
the principal amount of Base Rate Loans, but subject to the amount of the
unutilized portion of the Commitment Amount and the conditions set forth in
Section 11.2.1.
Any amount not reimbursed on the Honor Date shall bear interest from the Honor
Date to the date that such Issuing Lender is reimbursed by the Company therefor,
payable on demand, at a rate per annum equal to the Base Rate from time to time
in effect plus,
beginning on the third Business Day after receipt of notice from the Issuing
Lender of such payment or disbursement, 2%.  The applicable Issuing Lender
shall notify the Company and the Administrative Agent whenever any demand for
payment is made under any Letter of Credit by the beneficiary thereunder; provided that the
failure of such Issuing Lender to so notify the Company shall not affect the
rights of such Issuing Lender or the Lenders in any manner
whatsoever.

     

    2.3.4 
 Limitation on
Obligations of Issuing Lenders.  In determining whether to pay under
any Letter of Credit, no Issuing Lender shall have any obligation to the Company
or any Lender other than to confirm that any documents required to be delivered
under such Letter of Credit appear to have been delivered and appear to comply
on their face with the requirements of such Letter of Credit.  Any action
taken or omitted to be taken by an Issuing Lender under or in connection with
any Letter of Credit, if taken or omitted in the absence of gross negligence and
willful misconduct, shall not impose upon such Issuing Lender any liability to
the Company or any Lender and shall not reduce or impair the Company’s
reimbursement obligations set forth in Section 2.3.3 or
the obligations of the Lenders pursuant to Section
2.3.5.

    
      
         

      

      
        20

        
          

        

      

      
         

      

    

     

    2.3.5   Funding by Lenders to Issuing
Lenders.  If an Issuing Lender makes any payment or disbursement
under any Letter of Credit and such payment or disbursement is not reimbursed
(by the making of Base Rate Loans or otherwise) by the date and time specified
in the first sentence of Section 2.3.3) or if
any reimbursement received from the Company in respect of a payment or
reimbursement under any Letter of Credit is or must be returned or rescinded
upon or during any bankruptcy or reorganization of the Company or otherwise,
each other Lender shall be obligated to fund its participation in such Letter of
Credit by paying to the Administrative Agent for the account of such Issuing
Lender its pro rata share (according to its Percentage) of such payment or
disbursement (but no such payment by any Lender shall diminish the obligations
of the Company under Section 2.3.3),
and upon notice from the applicable Issuing Lender, the Administrative Agent
shall promptly notify each other Lender of such obligation.  Each other
Lender irrevocably and unconditionally agrees to so pay to the Administrative
Agent in immediately available funds for the applicable Issuing Lender’s account
the amount of such other Lender’s Percentage of such payment or
disbursement.  If and to the extent any Lender shall not have made such
amount available to the Administrative Agent by 2:00 P.M. on the Business Day on
which such Lender receives notice from the Administrative Agent of such payment
or disbursement (it being understood that any such notice received after noon on
any Business Day shall be deemed to have been received on the next following
Business Day), such Lender agrees to pay interest on such amount to the
Administrative Agent for the applicable Issuing Lender’s account forthwith on
demand for each day from the date such amount was to have been delivered to the
Administrative Agent to the date such amount is paid, at a rate per annum equal
to (a) for the first three days after demand, the Federal Funds Rate from time
to time in effect and (b) thereafter, the Base Rate from time to time in
effect.  Any Lender’s failure to make available to the Administrative Agent
its Percentage of any such payment or disbursement shall not relieve any other
Lender of its obligation hereunder to make available to the Administrative Agent
such other Lender’s Percentage of such payment, but no Lender shall be
responsible for the failure of any other Lender to make available to the
Administrative Agent such other Lender’s Percentage of any such payment or
disbursement.

     

    2.3.6   Information regarding
Letters of Credit.  Each Issuing Lender agrees, upon request of the
Administrative Agent, to deliver to the Administrative Agent a list of all
outstanding Letters of Credit issued by such Issuing Lender, together with such
information related thereto as the Administrative Agent may reasonably
request.  The Administrative Agent agrees, upon request of any Lender, to
deliver to such Lender a list of all outstanding Letters of Credit, together
with such information related thereto as such Lender may reasonably
request.

     

    2.3.7   Joint
Applications.  If the Company requests the issuance of any Letter of
Credit for the account of the Parent or one of the Company’s Subsidiaries, the
Parent or such Subsidiary shall be deemed to be a joint applicant on such Letter
of Credit and shall be jointly and severally obligated to reimburse the
applicable Issuing Lender (through the Administrative Agent) for any payment or
disbursement in respect of such Letter of Credit (and references in this Section 2.3 to the
Company shall, to the extent appropriate, be deemed to include the Parent or
such Subsidiary with respect to such Letter of Credit).

    
      
         

      

      
        21

        
          

        

      

      
         

      

    

     

    2.3.8   Applicability of ISP and
UCP.   Unless otherwise expressly agreed by the applicable
Issuing Lender and the Company when a Letter of Credit is issued (including any
such agreement applicable to an Existing Letter of Credit), (a) the rules of the
ISP shall apply to each standby Letter of Credit and (b) the rules of the
Uniform Customs and Practice for Documentary Credits, as most recently published
by the International Chamber of Commerce at the time of issuance shall apply to
each commercial Letter of Credit.

     

    2.4      Swing Line
Loans.

     

    2.4.1   Swing Line
Loans.  Subject to the terms and conditions of this Agreement,
the Swing Line Lender may from time to time, in its discretion, make loans to
the Company (collectively the “Swing Line Loans” and
individually each a “Swing Line Loan”) in
accordance with this Section 2.4 in an
aggregate amount not at any time exceeding $15,000,000; provided that the
Total Outstandings shall not at any time exceed the Commitment Amount. 
Amounts borrowed under this Section 2.4 may be
borrowed, repaid and (subject to the agreement of the Swing Line Lender)
reborrowed until the Termination Date.

     

    2.4.2   Swing Line Loan
Procedures.  The Company shall give written or telephonic notice to
the Administrative Agent (which shall promptly inform the Swing Line Lender) of
each proposed Swing Line Loan not later than 12:00 noon on the proposed date of
such Swing Line Loan.  Each such notice shall be effective upon receipt by
the Administrative Agent and shall specify the date (which shall be a Business
Day) and amount (which shall be an integral multiple of $100,000) of such Swing
Line Loan.  So long as the Swing Line Lender has not received written
notice that the conditions precedent set forth in Section 11 with
respect to the making of such Swing Line Loan have not been satisfied, the Swing
Line Lender may make the requested Swing Line Loan.  If the Swing Line
Lender agrees to make the requested Swing Line Loan, the Swing Line Lender shall
pay over the requested amount to the Company on the requested borrowing
date.  Concurrently with the making of any Swing Line Loan, the Swing Line
Lender shall be deemed to have sold and transferred, and each other Lender shall
be deemed to have purchased and received from the Swing Line Lender, an
undivided interest and participation to the extent of such other Lender’s
Percentage in such Swing Line Loan (but such participation shall remain unfunded
until required to be funded pursuant to Section
2.4.3).

     

    2.4.3   Refunding of, or Funding of
Participations in, Swing Line Loans.  The Swing Line Lender may at
any time, in its sole discretion, on behalf of the Company (which hereby
irrevocably authorizes the Swing Line Lender to act on its behalf) deliver a
notice to the Administrative Agent (with a copy to the Company) requesting that
each Lender (including the Swing Line Lender in its individual capacity) make a
Revolving Loan (which shall be a Base Rate Loan) in such Lender’s Percentage of
the aggregate amount of Swing Line Loans outstanding on such date for the
purpose of repaying all Swing Line Loans (and, upon receipt of the proceeds of
such Revolving Loans, the Administrative Agent shall apply such proceeds to
repay Swing Line Loans); provided that if the
conditions precedent to a borrowing of Revolving Loans are not then satisfied or
for any other reason the Lenders may not then make Revolving Loans, then instead
of making Revolving Loans each Lender (other than the Swing Line Lender) shall
become immediately obligated to fund its participation in all outstanding Swing
Line Loans and shall pay to the Administrative Agent for the account of the
Swing Line Lender an amount equal to such Lender’s Percentage of such Swing Line
Loans.  If and to the extent any Lender shall not have made such amount
available to the Administrative Agent by 2:00 P.M. on the Business Day on which
such Lender receives notice from the Administrative Agent of its obligation to
fund its participation in Swing Line Loans (it being understood that any such
notice received after 12:00 noon on any Business Day shall be deemed to have
been received on the next following Business Day), such Lender agrees to pay
interest on such amount to the Administrative Agent for the Swing Line Lender’s
account forthwith on demand for each day from the date such amount was to have
been delivered to the Administrative Agent to the date such amount is paid, at a
rate per annum equal to (a) for the first three days after demand, the Federal
Funds Rate from time to time in effect and (b) thereafter, the Base Rate from
time to time in effect.  Any Lender’s failure to make available to the
Administrative Agent its Percentage of the amount of all outstanding Swing Line
Loans shall not relieve any other Lender of its obligation hereunder to make
available to the Administrative Agent such other Lender’s Percentage of such
amount, but no Lender shall be responsible for the failure of any other Lender
to make available to the Administrative Agent such other Lender’s Percentage of
any such amount.

    
      
         

      

      
        22

        
          

        

      

      
         

      

    

     

    2.4.4   Repayment of
Participations.  Upon (and only upon) receipt by the Administrative
Agent for the account of the Swing Line Lender of immediately available funds
from or on behalf of the Company (a) in reimbursement of any Swing Line Loan
with respect to which a Lender has paid the Administrative Agent for the account
of the Swing Line Lender the amount of such Lender’s participation therein or
(b) in payment of any interest on a Swing Line Loan, the Administrative Agent
will pay to such Lender its pro rata share (according to its Percentage) thereof
(and the Swing Line Lender shall receive the amount otherwise payable to any
Lender which did not so pay the Administrative Agent the amount of such Lender’s
participation in such Swing Line Loan).

     

    2.4.5 
 Participation
Obligations Unconditional.  (a) Each Lender’s obligation to make
available to the Administrative Agent for the account of the Swing Line Lender
the amount of its participation interest in all Swing Line Loans as provided in
Section 2.4.3
shall be absolute and unconditional and shall not be affected by any
circumstance, including (i) any set-off, counterclaim, recoupment, defense or
other right which such Lender may have against the Swing Line Lender or any
other Person, (ii) the occurrence or continuance of an Event of Default or
Unmatured Event of Default, (iii) any adverse change in the condition (financial
or otherwise) of the Company or any Subsidiary thereof, (iv) any termination of
the Commitments or (v) any other circumstance, happening or event
whatsoever.

     

    (b)      Notwithstanding
the provisions of clause (a) above, no
Lender shall be required to purchase a participation interest in any Swing Line
Loan if, prior to the making by the Swing Line Lender of such Swing Line Loan,
the Swing Line Lender received written notice specifying that one or more of the
conditions precedent to the making of such Swing Line Loan were not satisfied
and, in fact, such conditions precedent were not satisfied at the time of the
making of such Swing Line Loan.

     

    2.5      Commitments
Several.  The failure of any Lender to make a requested Loan on any
date shall not relieve any other Lender of its obligation (if any) to make a
Loan on such date, but no Lender shall be responsible for the failure of any
other Lender to make any Loan to be made by such other Lender.

    
      
         

      

      
        23

        
          

        

      

      
         

      

    

     

    2.6      Certain
Conditions.  Notwithstanding any other provision of this Agreement,
no Lender shall have an obligation to make any Credit Extension if an Event of
Default or Unmatured Event of Default exists or would result
therefrom.

     

    SECTION
3      RECORDKEEPING.

     

    Each
Lender shall record in its records the date and amount of each Loan made by such
Lender, each repayment or conversion thereof and, in the case of each Eurodollar
Loan, the dates on which each Interest Period for such Loan shall begin and
end.  The aggregate unpaid principal amount so recorded shall be
rebuttable presumptive evidence of the principal amount of the unpaid Loans made
by such Lender.  The failure to so record any such amount or any error in
so recording any such amount shall not, however, limit or otherwise affect the
obligations of the Company hereunder to repay the principal amount of the Loans
made by such Lender together with all interest accruing thereon.

     

    SECTION
4      INTEREST.

     

    4.1      Interest Rates. 
The Company promises to pay interest on the unpaid principal amount of each Loan
for the period commencing on the date such Loan is advanced until such Loan is
paid in full as follows:

     

    (a)       in
the case of Revolving Loans, (i) at all times such Loan is a Base Rate Loan, at
a rate per annum equal to the Base Rate from time to time in effect; and (ii) at
all times such Loan is a Eurodollar Loan, at a rate per annum equal to the sum
of the Eurodollar Rate (Reserve Adjusted) applicable to each Interest Period for
such Loan plus the Eurodollar Margin from time to time in effect;
and

     

    (b)      in
the case of Swing Line Loans, at a rate per annum equal to the Base Rate from
time to time in effect;

     

    provided that, at the
written request of the Required Lenders, at any time an Event of Default exists
the interest rate applicable to each Loan shall be increased by 2%.

     

    4.2      Interest Payment
Dates.  Accrued interest on each Base Rate Loan and Swing Line Loan
shall be payable in arrears on the last Business Day of each calendar quarter
and at maturity.  Accrued interest on each Eurodollar Loan shall be payable
on the last day of each Interest Period relating to such Loan (and, in the case
of a Eurodollar Loan with an Interest Period of more than three months), on each
three-month anniversary of the first day of such Interest Period) and at
maturity.  After maturity, accrued interest on all Loans shall be payable
on demand.

     

    4.3      Setting and Notice of
Eurodollar Rates.  The applicable Eurodollar Rate for each Interest
Period shall be determined by the Administrative Agent, and notice thereof shall
be given by the Administrative Agent promptly to the Company and each
Lender.  Each determination of the applicable Eurodollar Rate by the
Administrative Agent shall be conclusive and binding upon the parties hereto, in
the absence of demonstrable error.  The Administrative Agent shall, upon
written request of the Company or any Lender, deliver to the Company or such
Lender a statement showing in reasonable detail the computations used by the
Administrative Agent in determining any applicable Eurodollar Rate
hereunder.

    
      
         

      

      
        24

        
          

        

      

      
         

      

    

     

    4.4      Computation of
Interest.  All determinations of interest for Base Rate Loans and
Swing Line Loans when the Base Rate is determined by the Prime Rate shall be
made on the basis of a year of 365 or 366 days, as the case may be, and the
actual number of days elapsed.  All other computations of interest shall be
computed for the actual number of days elapsed on the basis of a year of 360
days.  The applicable interest rate for each Base Rate Loan shall change
simultaneously with each change in the Base Rate.

     

    SECTION
5    FEES.

     

    5.1      Commitment Fee. 
The Company agrees to pay to the Administrative Agent for the account of each
Lender a commitment fee, for the period from the date on which the Effective
Time occurs to the Termination Date, at a rate per annum equal to the Commitment
Fee Rate in effect from time to time of the daily average of such Lender’s
Percentage of the unused amount of the Commitment Amount.  For purposes of
calculating usage under this Section, the Commitment Amount shall be deemed used
to the extent of the sum of the aggregate outstanding principal amount of all
Revolving Loans (but not Swingline Loans) and the Stated Amount of Letters of
Credit at such time.  Such shall be payable in arrears on the last Business
Day of each calendar quarter and on the Termination Date for any period then
ending for which such commitment fee shall not have theretofore been paid. 
The commitment fee shall be computed for the actual number of days elapsed on
the basis of a year of 360 days.

     

    5.2 
    Letter of Credit
Fees.  (a)  The Company agrees to pay to the Administrative
Agent for the account of the Lenders pro rata according to their respective
Percentages a letter of credit fee for each Letter of Credit in an amount equal
to the LC Fee Rate per annum in effect from time to time of the undrawn amount
of such Letter of Credit (computed for the actual number of days elapsed on the
basis of a year of 360 days); provided that, at the
written request of the Required Lenders, at any time an Event of Default exists
the rate applicable to each Letter of Credit shall be increased by 2%. 
Such letter of credit fee shall be payable in arrears on the last Business Day
of each calendar quarter and on the Termination Date (and, if any Letter of
Credit remains outstanding on the Termination Date, thereafter on demand) for
the period from the date of the issuance of each Letter of Credit to the date
such payment is due or, if earlier, the date on which such Letter of Credit
expired or was terminated.

     

    (b) 
    The Company agrees to pay each Issuing Lender a fronting
fee for each Letter of Credit issued by such Issuing Lender in the amount
separately agreed to between the Company and such Issuing Lender.

     

    (c)       In
addition, with respect to each Letter of Credit, the Company agrees to pay to
the applicable Issuing Lender, for its own account, such fees and expenses as
such Issuing Lender customarily requires in connection with the issuance,
negotiation, processing and/or administration of letters of credit in similar
situations.

     

    5.3       Up-Front Fees. 
The Company agrees to pay to the Lead Arranger for the account of the Lenders
such up-front fees as have been previously agreed to by the Company, the
Administrative Agent, the Lead Arranger and the Lenders.

    
      
         

      

      
        25

        
          

        

      

      
         

      

    

     

    5.4      Administrative Agent’s and
Lead Arranger’s Fees.  The Company agrees to pay to the
Administrative Agent and the Lead Arranger such fees as are mutually agreed to
from time to time by the Company, the Administrative Agent and the Lead
Arranger.

     

    SECTION
6     REPAYMENT OF LOANS; REDUCTION AND TERMINATION OF
THE COMMITMENTS; PREPAYMENTS.

     

    6.1      Repayment of
Loans.

     

    (a)    
  All Revolving Loans shall be repaid in full on the Termination
Date.

     

    (b)     
 All Swing Line Loans shall be repaid in full promptly following demand by
the Swing Line Lender (and, in any event, on the Termination Date).

     

    6.2       Changes in the Commitment
Amount.

     

    6.2.1    Voluntary Reductions and
Termination of the Commitment Amount.  The Company may from time to
time on at least three Business Days’ prior written notice (or such lesser time
as is approved by the Administrative Agent) received by the Administrative Agent
(which shall promptly advise each Lender thereof) permanently reduce (subject to
any subsequent permitted increase in the Commitment Amount pursuant to Section 6.2.2) the
Commitment Amount to an amount not less than the Total Outstandings.  Any
such reduction shall be in an amount not less than $3,000,000 or a higher
integral multiple of $1,000,000.  The Company may at any time on like
notice terminate the Commitments upon payment in full of all Revolving Loans and
Swing Line Loans and all other obligations of the Company hereunder in respect
of such Loans and cash collateralization in full or the issuance of backstop
letters of credit, pursuant to documentation in form and substance reasonably
satisfactory to the Issuing Lenders, of all obligations arising with respect to
the Letters of Credit.  All reductions of the Commitment Amount shall
reduce the Commitments pro rata among the Lenders according to their respective
Percentages.

     

    6.2.2   Increase in the Commitment
Amount.

     

    (a)       Notwithstanding
any other provision of this Agreement (including Section 15.1), the
Company may, from time to time, by means of a letter delivered to the
Administrative Agent substantially in the form of Exhibit G, request
that the Commitment Amount be increased; provided that (i) the
aggregate amount of all such increases during the term of this Agreement shall
not exceed $150,000,000 and (ii) any such increase in the Commitment Amount
shall be in an integral multiple of $5,000,000.

     

    (b)       Any
increase in the Commitment Amount may be effected by (i) increasing the
Commitment of one or more Lenders which have agreed to such increase and/or (ii)
subject to clause
(d), adding one or more commercial banks or other Persons as a party
hereto (each an “Additional Lender”)
with a Commitment in an amount agreed to by any such Additional
Lender.

    
      
         

      

      
        26

        
          

        

      

      
         

      

    

    (c)      Any
increase in the Commitment Amount pursuant to this Section 6.2.2 shall
be effective three Business Days (or such other period agreed to by the
Administrative Agent, the Company and, as applicable, each Lender that has
agreed to increase its Commitment and each Additional Lender) after the date on
which the Administrative Agent has received and acknowledged receipt of the
applicable increase letter in the form of Annex 1 (in the case
of an increase in the Commitment of an existing Lender) or Annex 2 (in the case
of the addition of an Additional Lender) to Exhibit
G.

     

    (d)      No
Additional Lender shall be added as a party hereto without the written consent
of the Administrative Agent and, if such Additional Lender will have a
Commitment, the Issuing Lenders and the Swing Line Lender (which consents shall
not be unreasonably withheld), and no increase in the Commitment Amount may be
effected if an Event of Default or an Unmatured Event of Default exists on the
date of such proposed increase.

     

    (e)       The
Administrative Agent shall promptly notify the Company and the Lenders of any
increase in the Commitment Amount pursuant to this Section 6.2.2 and of
the Commitment and Percentage of each Lender after giving effect
thereto.  The parties hereto agree that, notwithstanding any other
provision of this Agreement (including Section 15.1), the
Administrative Agent, the Company, each Additional Lender and each increasing
Lender, as applicable, may make arrangements to stage the timing of any such
increase, or to cause an Additional Lender or an increasing Lender to
temporarily hold risk participations in the outstanding Revolving Loans of the
other Lenders (rather than fund its Percentage of all outstanding Revolving
Loans concurrently with the applicable increase), in each case with a view
toward minimizing breakage costs and transfers of funds in connection with any
increase in the Commitment Amount.  The Company acknowledges that if, as a
result of a non-pro-rata increase in the Commitment Amount, any Revolving Loans
are prepaid or converted (in whole or in part) on a day other than the last day
of an Interest Period therefor, then such prepayment or conversion shall be
subject to the provisions of Section
8.4.

     

    6.3       Prepayments.

     

    6.3.1    Voluntary
Prepayments.  The Company may from time to time prepay Loans in
whole or in part, without premium or penalty; provided that the
Company shall give the Administrative Agent (which shall promptly advise each
Lender) notice thereof not later than 10:00 A.M. (or, in the case of prepayment
of Swing Line Loans, 12:00 noon) on the date of such prepayment (which shall be
a Business Day), specifying the Loans to be prepaid and the date and amount of
prepayment.  Each partial prepayment of Revolving Loans shall be in a
principal amount of $500,000 or a higher integral multiple of $100,000. 
Any prepayment of a Eurodollar Loan on a day other than the last day of an
Interest Period therefor shall include interest on the principal amount being
repaid and shall be subject to Section 8.4.

     

    SECTION
7    MAKING AND PRORATION OF PAYMENTS; SETOFF;
TAXES.

     

    7.1      Making of
Payments.  All payments of principal of or interest on the Loans,
and of all commitment fees and Letter of Credit fees, shall be made by the
Company to the Administrative Agent in immediately available funds at the office
specified by the Administrative Agent not later than noon on the date due; and
funds received after that hour shall be deemed to have been received by the
Administrative Agent on the next following Business Day.  The
Administrative Agent shall promptly remit to each Lender its share of all such
payments received in collected funds by the Administrative Agent for the account
of such Lender.  All payments under Section 8.1 shall be
made by the Company directly to the Lender entitled thereto.

    
      
         

      

      
        27

        
          

        

      

      
         

      

    

     

    7.2      Application of Certain
Payments.  Subject to the requirements of Section 6.3, each
payment of principal shall be applied to such Loans as the Company shall direct
by notice to be received by the Administrative Agent on or before the date of
such payment or, in the absence of such notice, as the Administrative Agent
shall determine in its discretion.  Concurrently with each remittance to
any Lender of its share of any such payment, the Administrative Agent shall
advise such Lender as to the application of such payment.

     

    7.3      Due Date
Extension.  If any payment of principal or interest with respect to
any of the Loans, or of commitment fees or Letter of Credit fees, falls due on a
day which is not a Business Day, then such due date shall be extended to the
immediately following Business Day (unless, in the case of a Eurodollar Loan,
such immediately following Business Day is the first Business Day of a calendar
month, in which case such date shall be the immediately preceding Business Day)
and, in the case of principal, additional interest shall accrue and be payable
for the period of any such extension.

     

    7.4 
    Setoff.  The
Company agrees that the Administrative Agent and each Lender have all rights of
set-off and bankers’ lien provided by applicable law, and in addition thereto,
the Company agrees that at any time any Event of Default exists, the
Administrative Agent and each Lender may apply to the payment of any obligations
of the Company hereunder, whether or not then due, any and all balances,
credits, deposits, accounts or moneys of the Company then or thereafter with the
Administrative Agent or such Lender.

     

    7.5      Proration of
Payments.  If any Lender shall obtain any payment or other recovery
(whether voluntary, involuntary, by application of offset or otherwise, but
excluding any payment pursuant to Section 8.7 or 15.9 or any payment
to the Swing Line Lender in respect of a Swing Line Loan) on account of
principal of or interest on any of its Loans (or on account of its participation
in any other Credit Extension) in excess of its pro rata share (in accordance
with the terms of this Agreement) of payments and other recoveries obtained by
all Lenders on account of principal of and interest on their respective Loans
(or such participations) then held by them, such Lender shall purchase from the
other Lenders such participation in the Loans (or sub-participations in the
other Credit Extensions) held by them as shall be necessary to cause such
purchasing Lender to share the excess payment or other recovery ratably with
each of them according to their respective Percentages; provided that if all
or any portion of the excess payment or other recovery is thereafter recovered
from such purchasing Lender, the purchase shall be rescinded and the purchase
price restored to the extent of such recovery.

     

    7.6      Taxes.  (a)
Provided that a Lender, Participant or Assignee has complied in all material
respects with its obligations pursuant to Section 7.6(c) and
(d) and Section 14.10, all
payments by the Company of principal of, and interest on, the Loans and all
other amounts payable hereunder to such Lender, Participant or Assignee shall be
made free and clear of and without deduction for any present or future income,
excise, stamp or other taxes, fees, duties, withholdings or other charges with
respect thereto of any nature whatsoever imposed by any taxing authority (other
than franchise taxes, branch profits taxes and other taxes imposed on or
measured by net income, net profits or receipts)(all non-excluded items being
called “Taxes”).  If any
withholding or deduction from any payment to be made by the Company hereunder is
required in respect of any Taxes pursuant to any applicable law, rule or
regulation, then the Company will:

    
      
         

      

      
        28

        
          

        

      

      
         

      

    

     

    (i)           pay
directly to the relevant authority the full amount required to be so withheld or
deducted;

     

    (ii)          promptly
forward to the Administrative Agent a certified copy of an official receipt or
other documentation reasonably satisfactory to the Administrative Agent
evidencing such payment to such authority; and

     

    (iii)         (except
to the extent such withholding or deduction would not be required if such
Lender’s, Participant’s or Assignee’s Exemption Representation were true and
such Lender, Participant or Assignee or the Administrative Agent had properly
completed and delivered the necessary forms to the Company as required by Sections 7.6(d) and
14.10(a)
through (c) to
establish that it was not subject to any deduction or withholding) pay to the
Administrative Agent for the account of such Lender, Participant or Assignee
such additional amount or amounts as is necessary to ensure that the net amount
actually received by such Lender, Participant or Assignee will equal the full
amount such Lender, Participant or Assignee would have received had no such
withholding or deduction been required.

     

    Moreover,
if any Taxes are directly asserted against the Administrative Agent or any
Lender, Participant or Assignee with respect to any payment received by the
Administrative Agent or such Lender, Participant or Assignee hereunder, the
Administrative Agent or such Lender, Participant or Assignee may pay such Taxes
and the Company will (except to the extent such Taxes are payable by a Lender,
Participant or Assignee and would not have been payable if such Lender’s,
Participant’s or Assignee’s Exemption Representation were true and such Lender,
Participant or Assignee or the Administrative Agent had properly completed and
delivered the necessary forms to the Company as required by Sections 7.6(d) and
14.10(a)
through (c) to
establish that it was not subject to any deduction or withholding) promptly pay
such additional amounts (including any penalty, interest and expense) as is
necessary in order that the net amount received by such Person after the payment
of such Taxes (including any Taxes on such additional amount) shall equal the
amount such Person would have received had such Taxes not been
asserted.

     

    (b)       If
the Company fails to pay any Taxes payable hereunder when due to the appropriate
taxing authority or fails to remit to the Administrative Agent, for the account
of the respective Lender, Participant or Assignee the required receipts or other
required documentary evidence, the Company shall indemnify such Lender,
Participant or Assignee for any incremental Taxes, interest or penalties that
may become payable by such Lender, Participant or Assignee as a result of any
such failure; provided that the
Company will not pay any Taxes (nor any interest or penalty relating thereto)
that would not have been payable if such Lender’s, Participant’s or Assignee’s
Exemption Representation were true and such Lender, Participant or Assignee had
properly completed and delivered the necessary forms to the Company as required
by Sections
7.6(d) and 14.10(a) through
(c) to
establish that it was not subject to any deduction or
withholding.  For purposes of this Section 7.6, a
distribution hereunder by the Administrative Agent or any Lender, Participant or
Assignee to or for the account of any Lender, Participant or Assignee shall be
deemed a payment by the Company.

    
      
         

      

      
        29

        
          

        

      

      
         

      

    

     

    (c)       Each
Lender, Participant and Assignee represents and warrants (such Lender’s,
Participant’s or Assignee’s “Exemption
Representation”) to the Company and the Administrative Agent that, as of
the date of this Agreement (or (i) in the case of an Assignee, the date it
becomes a party hereto or (ii) in the case of a Participant, the date it
purchases a participation hereunder), it is entitled to receive payments
hereunder without any deduction or withholding in respect of any Taxes pursuant
to any applicable law, rule or regulation.

     

    (d)      In
addition to satisfying the requirements of Section 14.10(a)
through (c),
upon the request from time to time of the Company or the Administrative Agent,
each Lender, Participant and Assignee that is organized under the laws of a
jurisdiction other than the United States of America shall, to the extent it may
lawfully do so, execute and deliver to the Company and the Administrative Agent
two or more (as the Company or the Administrative Agent may reasonably request)
United States Internal Revenue Service Forms W-9, W-8BEN or W-8ECI or such other
forms or documents, appropriately completed, as may be applicable to establish
the extent, if any, to which a payment to such Lender, Participant or Assignee
is exempt from withholding or deduction of Taxes.

     

    (e)       The
Administrative Agent and each Lender, Participant or Assignee, as applicable,
shall promptly and diligently pursue any available refund that, in the
reasonable and good faith determination of the Administrative Agent or such
Lender, Participant or Assignee, as applicable, is attributable to any tax with
respect to which the Company has made a payment pursuant to this Agreement, and
shall promptly remit immediately available funds to the Company in an amount
equal to any such refund (including any interest received thereon).

     

    7.7      Non-Receipt of Funds by
Administrative Agent.  Unless the Company or a Lender, as the
case may be, notifies the Administrative Agent prior to the date on which it is
scheduled to make payment to the Administrative Agent of (a) in the case of a
Lender, the proceeds of a Loan or (b) in the case of the Company, a payment of
principal, interest or fees to the Administrative Agent for the account of the
Lenders, that it does not intend to make such payment, the Administrative Agent
may assume that such payment has been made.  The Administrative 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 a Lender
or the Company, as the case may be, has not in fact made such payment to the
Administrative Agent, the recipient of such payment shall, on demand by the
Administrative Agent, repay to the Administrative 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
Administrative Agent until the date the Administrative Agent recovers such
amount at a rate per annum equal to (i) in the case of payment by a Lender, the
Federal Funds Rate until the third Business Days after demand by the
Administrative Agent and, thereafter, the interest rate applicable to the
relevant Loan or (ii) in the case of payment by the Company, the interest rate
applicable to the relevant obligation (of, if no interest rate is so specified,
the Base Rate from time to time in effect).

     

    
      
         

      

      
        30

        
          

        

      

      
         

      

    

    SECTION
8     INCREASED COSTS; SPECIAL PROVISIONS FOR
EURODOLLAR LOANS.

     

    8.1      Increased
Costs.  (a)  If, after the date hereof, the adoption
of any applicable law, rule or regulation, or any change therein, or any change
in the interpretation or administration thereof by any Governmental Authority,
central bank or comparable agency charged with the interpretation or
administration thereof, or compliance by any Lender (or any Eurodollar Office of
such Lender) with any request or directive (whether or not having the force of
law) of any such authority, central bank or comparable agency

     

    (A)        shall
subject any Lender (or any Eurodollar Office of such Lender) to any additional
tax, duty or other charge with respect to its Eurodollar Loans or its obligation
to make Eurodollar Loans, or shall change the basis of taxation of payments to
any Lender of the principal of or interest on its Eurodollar Loans or any other
amounts due under this Agreement in respect of its Eurodollar Loans or its
obligation to make Eurodollar Loans (except for changes in the rate of any
franchise tax, branch profits tax or other tax imposed on or measured by the net
income, net profits or receipts of such Lender or its Eurodollar Office imposed
by the jurisdiction in which such Lender’s principal executive office or
Eurodollar Office is located, in which such Lender is organized or in which such
Lender is doing business); or

     

    (B)         shall
impose, modify or deem applicable any reserve (including any reserve imposed by
the FRB, but excluding any reserve included in the determination of interest
rates pursuant to Section 4), special
deposit or similar requirement against assets of, deposits with or for the
account of, or credit extended by any Lender (or any Eurodollar Office of such
Lender); or

     

    (C)         shall
impose on any Lender (or its Eurodollar Office) any other condition affecting
its Eurodollar Loans or its obligation to make Eurodollar Loans;

     

    and the
result of any of the foregoing is to increase the cost to (or in the case of
Regulation D of the FRB, to impose a cost on) such Lender (or any Eurodollar
Office of such Lender) of making or maintaining any Eurodollar Loan, or to
reduce the amount of any sum received or receivable by such Lender (or its
Eurodollar Office) under this Agreement, then within 10 Business Days after
written demand to the Company by such Lender (which demand shall be accompanied
by a written statement setting forth the basis for such demand and a calculation
of the amount thereof in reasonable detail, a copy of which shall be furnished
to the Administrative Agent), the Company shall pay directly to such Lender such
additional amount as will compensate such Lender for such increased cost or such
reduction.

     

    (b)      If
any Lender shall reasonably determine that (i) the adoption or phase-in of any
applicable law, rule or regulation regarding capital adequacy, or any change
therein, (ii) any change in the interpretation or administration thereof by any
Governmental Authority, central bank or comparable agency charged with the
interpretation or administration thereof, or (iii) compliance by any Lender or
any Person controlling such Lender with any request or directive regarding
capital adequacy (whether or not having the force of law) of any such authority,
central bank or comparable agency, in each case having effect after the date
hereof, has or would have the effect of reducing the rate of return on such
Lender’s or such controlling Person’s capital as a consequence of such Lender’s
obligations hereunder or under any Letter of Credit to a level below that which
such Lender or such controlling Person could have achieved but for such
adoption, change or compliance (taking into consideration such Lender’s or such
controlling Person’s policies with respect to capital adequacy) by an amount
deemed by such Lender or such controlling Person to be material, then from time
to time, within 10 Business Days after written demand to the Company by such
Lender (which demand shall be accompanied by a written statement setting forth
the basis for such demand and a calculation of the amount thereof in reasonable
detail, a copy of which shall be furnished to the Administrative Agent), the
Company shall pay to such Lender such additional amount or amounts as will
compensate such Lender or such controlling Person for such
reduction.

     

    
      
         

      

      
        31

        
          

        

      

      
         

      

    

     

    (c)       Notwithstanding
the foregoing provisions of this Section 8.1, if any
Lender fails to notify the Company of any event or circumstance which will
entitle such Lender to compensation pursuant to this Section 8.1 within
180 days after such Lender obtains knowledge of such event or circumstance, then
such Lender shall not be entitled to compensation from the Company for any
amount arising prior to the date which is 180 days before the date on which such
Lender notifies the Company of such event or circumstance.

     

    8.2      Basis for Determining
Interest Rate Inadequate or Unfair.  If with respect to any
Interest Period:

     

    (a)      deposits
in Dollars (in the applicable amounts) are not being offered to the
Administrative Agent in the interbank eurodollar market for such Interest
Period, or the Administrative Agent otherwise reasonably determines (which
determination, if made in good faith, shall be binding and conclusive on the
Company) that by reason of circumstances affecting the interbank eurodollar
market adequate and reasonable means do not exist for ascertaining the
applicable Eurodollar Rate; or

     

    (b)      the
Required Lenders advise the Administrative Agent that the Eurodollar Rate
(Reserve Adjusted) as determined by the Administrative Agent will not adequately
and fairly reflect the cost to such Lenders of maintaining or funding such
Eurodollar Loans for such Interest Period (taking into account any amount to
which such Lenders may be entitled under Section
8.1);

     

    then the
Administrative Agent shall promptly notify the other parties thereof and, so
long as such circumstances shall continue, (i) no Lender shall be under any
obligation to make or convert into Eurodollar Loans, (ii) on the last day of the
current Interest Period for each Eurodollar Loan, such Loan shall, unless then
repaid in full, automatically convert to a Base Rate Loan and (iii) the Company
may revoke any pending request for a borrowing of, conversion to or continuation
of Eurodollar Loans and, if the Company fails to so revoke any such request,
such request shall be deemed to be a request for a borrowing of Base Rate
Loans.

    
      
         

      

      
        32

        
          

        

      

      
         

      

    

    8.3      Changes in Law Rendering
Eurodollar Loans Unlawful.  If, after the date hereof, any
change in (including the adoption of any new) applicable laws or regulations, or
any change in the interpretation of applicable laws or regulations by any
governmental or other regulatory body charged with the administration thereof,
should make it (or in the good faith judgment of any Lender cause a substantial
question as to whether it is) unlawful for any Lender to make, maintain or fund
Eurodollar Loans, then such Lender shall promptly notify each of the other
parties hereto and, so long as such circumstances shall continue, (a) such
Lender shall have no obligation to make or convert into Eurodollar Loans (but
shall make Base Rate Loans concurrently with the making of or conversion into
Eurodollar Loans by the Lenders which are not so affected, in each case in an
amount equal to such Lender’s pro rata share of all Eurodollar Loans which would
be made or converted into at such time in the absence of such circumstances),
(b) on the last day of the current Interest Period for each Eurodollar Loan of
such Lender (or, in any event,  on such earlier date as may be
required by the relevant law, regulation or interpretation), such Eurodollar
Loan shall, unless then repaid in full, automatically convert to a Base Rate
Loan and (c) the Company may revoke any pending request for a borrowing of,
conversion to or continuation of Eurodollar Loans and, if the Company fails to
so revoke any such request, such request shall be deemed to be a request for a
borrowing of Base Rate Loans.  Each Base Rate Loan made by a Lender
which, but for the circumstances described in the foregoing sentence, would be a
Eurodollar Loan (an “Affected Loan”) shall
remain outstanding as a Base Rate Loan for the same period as the Group of
Eurodollar Loans of which such Affected Loan would be a part absent such
circumstances.

     

    8.4      Funding
Losses.  The Company hereby agrees that upon written demand by
any Lender (which demand shall be accompanied by a written statement setting
forth in reasonable detail the basis for the amount being claimed, a copy of
which shall be furnished to the Administrative Agent), the Company will
indemnify such Lender against any net loss or expense which such Lender may
sustain or incur (including any net loss or expense incurred by reason of the
liquidation or reemployment of deposits or other funds acquired by such Lender
to fund or maintain any Eurodollar Loan), as reasonably determined by such
Lender, as a result of (a) any payment, prepayment or conversion of any
Eurodollar Loan of such Lender on a date other than the last day of an Interest
Period for such Loan (including any conversion pursuant to Section 8.3) or (b)
any failure of the Company to borrow or continue, or to convert any Loan into, a
Eurodollar Loan on a date specified therefor in a notice of borrowing,
continuation or conversion pursuant to this Agreement (including as a result of
any revocation of a request for a borrowing of, conversion to or continuation of
Eurodollar Loans pursuant to Section 8.2 or 8.3, regardless of
whether the Company borrows Base Rate Loans in lieu of the requested Eurodollar
Loans).  For purposes of this Section 8.4, all
notices to the Administrative Agent pursuant to this Agreement shall be deemed
to be irrevocable.

     

    8.5      Right of Lenders to Fund
through Other Offices.  Each Lender may, if it so elects,
fulfill its commitment as to any Eurodollar Loan by causing a foreign branch or
affiliate of such Lender to make such Loan; provided that in such
event, for purposes of this Agreement, such Loan shall be deemed to have been
made by such Lender and the obligation of the Company to repay such Loan shall
nevertheless be to such Lender and shall be deemed held by it, to the extent of
such Loan, for the account of such branch or affiliate.

     

    8.6      Discretion of Lenders as to
Manner of Funding.  Notwithstanding any provision of this
Agreement to the contrary, each Lender shall be entitled to fund and maintain
its funding of all or any part of its Loans in any manner it sees fit, it being
understood, however, that for  purposes of this Agreement all
determinations hereunder shall be made as if such Lender had actually funded and
maintained each Eurodollar Loan during each Interest Period for such Loan
through the purchase of deposits having a maturity corresponding to such
Interest Period and bearing an interest rate equal to the Eurodollar Rate for
such Interest Period.

    
      
         

      

      
        33

        
          

        

      

      
         

      

    

     

    8.7      Mitigation of Circumstances;
Replacement of Affected Lender.  (a)  Each Lender
shall promptly notify the Company and the Administrative Agent of any event of
which it has knowledge which will result in, and will use reasonable commercial
efforts available to it (and not, in such Lender’s good faith judgment,
otherwise disadvantageous to such Lender) to mitigate or avoid, (i) any
obligation by the Company to pay any amount pursuant to Section 7.6 or 8.1 or (ii) the
occurrence of any circumstance of the nature described in Section 8.2 or 8.3 (and, if any
Lender has given notice of any such event described in clause (i) or (ii) above and
thereafter such event ceases to exist, such Lender shall promptly so notify the
Company and the Administrative Agent).  Without limiting the
foregoing, each Lender will designate a different funding office if such
designation will avoid (or reduce the cost to the Company of) any event
described in clause
(i) or (ii) of the preceding
sentence and such designation will not, in such Lender’s good faith judgment, be
otherwise disadvantageous to such Lender.  Notwithstanding any
provision of Section
7.6 or 8.1, no Lender shall
be entitled to request any payment pursuant to either such Section unless such
Lender is generally demanding payment under comparable provisions of its
agreements with similarly-situated borrowers of similar credit
quality.

     

    (b)      At
any time any Lender is an Affected Lender or would be an Affected Lender but for
not having given notice to the Company, the Company may replace such Affected
Lender as a party to this Agreement with one or more other bank(s) or financial
institution(s) reasonably satisfactory to the Administrative Agent (and upon
notice from the Company such Affected Lender shall assign pursuant to an
Assignment Agreement, and without recourse or warranty, its Commitment, its
Loans, its participation (if any) in Swing Line Loans and Letters of Credit, and
all of its other rights and obligations hereunder to such replacement bank(s) or
other financial institution(s) for a purchase price equal to the sum of the
outstanding principal amount of the Loans so assigned, all accrued and unpaid
interest thereon, its ratable share of all accrued and unpaid commitment fees
and Letter of Credit fees, any amounts payable under Section 8.4 as a
result of such Lender receiving payment of any Eurodollar Loan prior to the end
of an Interest Period therefor and all other obligations owed to such Affected
Lender hereunder).

     

    8.8      Conclusiveness of
Statements; Survival of Provisions.  Determinations and
statements of any Lender pursuant to Section 8.1, 8.2, 8.3 or 8.4 shall be
conclusive absent demonstrable error.  Lenders may use reasonable
averaging and attribution methods in determining compensation under Sections 8.1 and
8.4, and the
provisions of such Sections shall survive repayment of the Loans cancellation or
expiration of the Letters of Credit and any termination of this
Agreement.

     

    SECTION
9        REPRESENTATIONS AND
WARRANTIES.

     

    To induce
the Administrative Agent and the Lenders to enter into this Agreement and to
induce the Lenders to make Loans and issue or participate in Letters of Credit
hereunder, the Parent and the Company represent and warrant to the
Administrative Agent and the Lenders that:

     

    9.1      Organization,
etc.  The Parent is a corporation duly organized, validly
existing and, if applicable, in good standing under the laws of the State of
Delaware; each Subsidiary is duly organized, validly existing and, if
applicable, in good standing under the laws of the jurisdiction of its
organization; and each of the Parent and each Subsidiary is duly qualified to do
business in each jurisdiction where the nature of its business makes such
qualification necessary (except in those instances in which the failure to be
qualified or in good standing could not reasonably be expected to have a
Material Adverse Effect) and has full power and authority to own its property
and conduct its business as presently conducted by it.

    
      
         

      

      
        34

        
          

        

      

      
         

      

    

     

    9.2      Authorization; No
Conflict.  The execution and delivery by each of the Parent and
the Company of this Agreement and each other Loan Document to which it is a
party, the borrowings hereunder, the execution and delivery by each other Loan
Party of each Loan Document to which it is a party and the performance by each
Loan Party of its obligations under each Loan Document to which it is a party
are within the organizational powers of such Loan Party, have been duly
authorized by all necessary organizational action on the part of such Loan Party
(including any necessary shareholder, partner or member action), have received
all necessary governmental approval (if any shall be required), and do not and
will not (a) violate any provision of any law, statute, rule or regulation or
any order, writ, injunction, decree or judgment of any court or other government
agency which is binding on any Loan Party, (b) contravene or conflict with, or
result in a breach of, any provision of the certificate of incorporation,
partnership agreement, by-laws or other organizational documents of such Loan
Party or of any loan or credit agreement, indenture, or other material
instrument or document which is binding on such Loan Party or any other
Subsidiary or any property of any of the foregoing or (c) result in, or require,
the creation or imposition of any Lien on any property of any Loan Party or any
other Subsidiary (other than Liens arising under the Loan
Documents).

     

    9.3      Validity and Binding
Nature.  Each Loan Document to which any Loan Party is a party
has been duly executed and delivered by such Loan Party and is the legal, valid
and binding obligation of such Loan Party, enforceable against such Loan Party
in accordance with its terms, subject to bankruptcy, insolvency and similar laws
affecting the enforceability of creditors’ rights generally and to general
principles of equity.

     

    9.4       Financial
Condition.  (a) The audited consolidated financial statements
of the Parent and its Subsidiaries as at December 30, 2006, copies of which have
been delivered to each Lender, were prepared in accordance with GAAP and present
fairly the consolidated financial condition of the Parent and its Subsidiaries
as at such date and the results of their operations for the period then ended
and (b) the unaudited consolidated financial statements of the Parent and its
Subsidiaries as at September 27, 2007, copies of which have been delivered to
each Lender, were prepared in accordance with GAAP (subject, in the case of such
unaudited statements, to the absence of footnotes and to normal year-end
adjustments) and present fairly the consolidated financial condition of the
Parent and its Subsidiaries as at such date and the results of their operations
for the period then ended.

     

    9.5       No Material Adverse
Change.  Since December 30, 2006, there has been no material
adverse change in the business, assets, operations, condition (financial or
otherwise) or prospects of the Parent and its Subsidiaries taken as a
whole.

     

    9.6       Litigation and Contingent
Liabilities.  No litigation (including derivative actions),
arbitration proceeding, labor controversy or governmental investigation or
proceeding is pending or, to the Company’s knowledge, threatened against the
Parent or any Subsidiary which might reasonably be expected to have a Material
Adverse Effect, except as set forth in Schedule
9.6.  Other than any liability incident to such litigation or
proceedings, neither the Parent nor any Subsidiary has any material contingent
liabilities as of the date hereof not listed in such Schedule
9.6.

    
      
         

      

      
        35

        
          

        

      

      
         

      

    

     

    9.7      Ownership of Properties;
Liens.  Except as set forth in Schedule 9.7, each of
the Parent and each Subsidiary owns good and, in the case of real property,
marketable title to all of its properties and assets, real and personal,
tangible and intangible, of any nature whatsoever, in each case necessary for
the conduct of its business (including patents, trademarks, trade names, service
marks and copyrights), free and clear of all Liens, charges and material claims
(including material infringement claims which are pending or, to the knowledge
of the Parent or any Subsidiary, threatened with respect to patents, trademarks,
copyrights and the like) except as permitted pursuant to Section
10.8.

     

    9.8      Subsidiaries.  As
of the date hereof, the Parent has no Subsidiaries except those listed in Schedule 9.8; and the
Parent has no direct Subsidiary other than the Company.

     

    9.9      Pension
Plans.  (a)  During the twelve-consecutive-month
period prior to the date of the execution and delivery of this Agreement or the
making of any Credit Extension hereunder, (i) no steps have been taken to
terminate any Pension Plan, other than any such termination pursuant to Section
4041(b) of ERISA, and (ii) no contribution failure has occurred with respect to
any Pension Plan sufficient to give rise to a lien under Section 302(f) of
ERISA.  No condition exists or event or transaction has occurred with
respect to any Pension Plan which could reasonably be expected to have a
Material Adverse Effect.

     

    (b)      All
contributions (if any) have been made to any Multiemployer Pension Plan that are
required to be made by the Parent or any other member of the Controlled Group
under the terms of the plan or of any collective bargaining agreement or by
applicable law; neither the Parent nor any member of the Controlled Group has
withdrawn or partially withdrawn from any Multiemployer Pension Plan, incurred
any withdrawal liability with respect to any such plan, received notice of any
claim or demand for withdrawal liability or partial withdrawal liability from
any such plan, and no condition has occurred which, if continued, could
reasonably be expected to result in a withdrawal or partial withdrawal from any
such plan; and neither the Parent nor any member of the Controlled Group has
received any notice that any Multiemployer Pension Plan is in reorganization,
that increased contributions may be required to avoid a reduction in plan
benefits or the imposition of any excise tax, that any such plan is or has been
funded at a rate less than that required under Section 412 of the Code, that any
such plan is or may be terminated, or that any such plan is or may become
insolvent.

     

    9.10    Investment Company
Act.  Neither the Parent nor any Subsidiary is or is required
to be registered as an “investment company” under the Investment Company Act of
1940.

     

    9.11    Regulation
U.  The Company is not engaged principally, or as one of its
important activities, in the business of extending credit for the purpose of
purchasing or carrying Margin Stock; and neither the Parent nor any Subsidiary
owns any Margin Stock other than Unrestricted Margin Stock.

     

    
      
         

      

      
        36

        
          

        

      

      
         

      

    

    9.12    Taxes.  Each
of the Parent and each Subsidiary has filed all United States federal tax
returns and other material tax returns required by law to have been filed by it
and has paid all taxes and governmental charges thereby shown to be owing,
except any such tax returns, taxes, fees or other charges (i) that are not
delinquent and (ii) which are being diligently contested in good faith by
appropriate proceedings and for which adequate reserves in accordance with GAAP
shall have been set aside on its books.

     

    9.13    Solvency,
etc.  (a) At the Effective Time (and after giving effect to any
right of contribution and subrogation), (i) the present fair saleable value of
each Loan Party’s assets will exceed the amount that will be required to pay the
probable liability of its debts and other liabilities, contingent or otherwise,
as such debts and other liabilities become absolute and matured, and (ii) each
Loan Party will be “solvent,” will be able to pay its debts as they mature, will
own property with “fair saleable value” greater than the amount required to pay
its debts as they become absolute and matured and will not have “unreasonably
small capital” with which to carry on its business as then constituted (all
quoted terms used in the foregoing clause (ii) having
the respective meanings given thereto in applicable federal and state laws
governing determinations of the insolvency of debtors).

     

    (b)      Immediately
prior to and after giving effect to the making of each Credit Extension
hereunder and the use of proceeds thereof, (i) the present fair saleable value
of the assets of the Loan Parties, on a consolidated basis, will exceed the
amount that will be required to pay the probable liability of the consolidated
debts and other liabilities, contingent or otherwise, of the Loan Parties, as
such debts and other liabilities become absolute and matured, and (ii) the Loan
Parties, on a consolidated basis, will be “solvent,” will be able to pay their
consolidated debts as they mature, will own consolidated property with “fair
saleable value” greater than the amount required to pay their consolidated debts
as they become absolute and matured and will not have “unreasonably small
capital” on a consolidated basis with which to carry on their business as then
constituted (all quoted terms used in the foregoing clause (ii) having
the respective meanings given thereto in applicable federal and state laws
governing determinations of the insolvency of debtors).

     

    9.14    Environmental
Matters.  The Parent and its Subsidiaries conduct in the
ordinary course of business a review of the effect of existing Environmental
Laws and Environmental Claims alleging potential liability or responsibility for
violation of any Environmental Law on their respective businesses, operations
and properties, and as a result thereof the Parent has reasonably concluded
that, except as specifically disclosed in Schedule 9.14, such
Environmental Laws and Environmental Claims would not, individually or in the
aggregate, have a Material Adverse Effect.

     

    9.15    Information.  All
information heretofore or contemporaneously herewith furnished in writing by the
Parent or any Subsidiary to any Lender for purposes of or in connection with
this Agreement and the transactions contemplated hereby is, and all written
information hereafter furnished by or on behalf of the Parent or any Subsidiary
to any Lender pursuant hereto or in connection herewith will be, true and
accurate in every material respect on the date as of which such information is
dated or certified, and none of such information is or will be incomplete by
omitting to state any material fact necessary to make such information not
misleading in light of the circumstances under which made as of the dates
thereof (it being recognized by the Administrative Agent and the Lenders that
(a) any projections and forecasts provided by the Parent or any Subsidiary are
based on good faith estimates and assumptions believed by the Parent or such
Subsidiary to be reasonable as of the date of the applicable projections or
assumptions and that actual results during the period or periods covered by any
such projections and forecasts will likely differ from projected or forecasted
results and (b) any information provided by the Parent or any Subsidiary with
respect to any Person or assets acquired or to be acquired by the Parent or any
Subsidiary shall, for all periods prior to the date of such Acquisition, be
limited to the knowledge of the Parent or the acquiring Subsidiary after
reasonable inquiry).

    
      
         

      

      
        37

        
          

        

      

      
         

      

    

     

    9.16    No
Default.  No Loan Party is in default under any agreement,
instrument or undertaking to which it is a party or by which it or any of its
property is bound which could reasonably be expected to have a Material Adverse
Effect.  No Event of Default or Unmatured Event of Default
exists.

     

    9.17    No Burdensome
Restrictions.  No Loan Party is a party to any agreement or
instrument or subject to any other obligation or any charter or corporate
restriction or any provision of any applicable law, rule or regulation which,
individually or in the aggregate, could reasonably be expected to have a
Material Adverse Effect.

     

    SECTION
10     COVENANTS.

     

    Until the
expiration or termination of the Commitments and thereafter until all
obligations of the Company hereunder and under the other Loan Documents are paid
in full and all Letters of Credit have been terminated, the Parent agrees that,
unless at any time the Required Lenders shall otherwise expressly consent in
writing, it will:

     

    10.1    Reports, Certificates and
Other Information.  Furnish to the Administrative Agent (which
will promptly forward copies thereof to each Lender):

     

    10.1.1 Audit
Report.  Promptly when available and in any event within 90
days after the close of each Fiscal Year:  (a) a copy of the annual
audit report of the Parent and its Subsidiaries for such Fiscal Year, including
therein consolidated balance sheets of the Parent and its Subsidiaries as of the
end of such Fiscal Year and consolidated statements of earnings and cash flow of
the Parent and its Subsidiaries for such Fiscal Year reported on without a
“going concern” exception, or a qualification arising out of the scope of the
audit, by Deloitte & Touche LLP or other independent auditors of recognized
standing selected by the Parent and reasonably acceptable to the Required
Lenders; and (b) consolidating balance sheets of the Parent and its Subsidiaries
as of the end of such Fiscal Year and consolidating statements of earnings and
cash flow for the Parent and its Subsidiaries for such Fiscal Year, certified by
a Responsible Financial Officer of the Parent.

     

    10.1.2 Quarterly
Reports.  Promptly when available and in any event within 45
days after the end of each Fiscal Quarter (except the last Fiscal Quarter) of
each Fiscal Year, consolidated and consolidating balance sheets of the Parent
and its Subsidiaries as of the end of such Fiscal Quarter, together with
consolidated and consolidating statements of earnings and  cash flow
for such Fiscal Quarter and for the period beginning with the first day of such
Fiscal Year and ending on the last day of such Fiscal Quarter, certified by a
Responsible Financial Officer of the Parent.

     

    
      
         

      

      
        38

        
          

        

      

      
         

      

    

    10.1.3 Compliance
Certificates.  Contemporaneously with the furnishing of a copy
of each annual audit report pursuant to Section 10.1.1 and of
each set of quarterly statements pursuant to Section 10.1.2, (a) a
duly completed compliance certificate in the form of Exhibit A, with
appropriate insertions, dated the date of such annual report or such quarterly
statements and signed by a Responsible Financial Officer of the Parent,
containing a computation of each of the financial ratios and restrictions set
forth in Section
10.6 and to the effect that such officer has not become aware of any
Event of Default or Unmatured Event of Default that has occurred and is
continuing or, if there is any such event, describing it and the steps, if any,
being taken to cure it; and (b) an updated organizational chart listing all
Subsidiaries and the jurisdictions of their respective
organization.

     

    10.1.4 Reports to SEC and to
Shareholders.  Promptly upon the filing or sending thereof,
copies of all regular, periodic or special reports of the Parent or any
Subsidiary filed with the SEC (excluding exhibits thereto, provided that the
Company shall promptly deliver any such exhibit to the Administrative Agent or
any Lender upon request therefor); copies of all registration statements of the
Parent or any Subsidiary filed with the SEC; and copies of all proxy statements
or other communications made to shareholders generally concerning material
developments in the business of the Parent or any Subsidiary.

     

    10.1.5 Notice of Default,
Litigation, ERISA and Environmental Matters.  Promptly upon any
Responsible Officer becoming aware of any of the following, written notice
describing the same and the steps being taken by the Parent or the Subsidiary
affected thereby with respect thereto:

     

    (a)       the
occurrence of an Event of Default or an Unmatured Event of Default;

     

    (b)      any
litigation, arbitration or governmental investigation or proceeding not
previously disclosed by the Parent to the Lenders which has been instituted or,
to the knowledge of the Parent or the Company, is threatened against the Parent
or any Subsidiary or to which any of the properties of any thereof is subject
which (i) has a reasonable likelihood of being adversely determined and (ii) if
so determined, would reasonably be expected to have a Material Adverse
Effect;

     

    (c)       the
institution of any steps by any member of the Controlled Group or any other
Person to terminate any Pension Plan (excluding the Star Termination), or the
failure of any member of the Controlled Group to make a required contribution to
any Pension Plan (if such failure is sufficient to give rise to a lien under
Section 302(f) of ERISA) or to any Multiemployer Pension Plan, or the taking of
any action with respect to a Pension Plan which could reasonably be expected to
result in the requirement that the Parent furnish a bond or other security to
the PBGC or such Pension Plan, or the occurrence of any event (excluding the
Star Termination) with respect to any Pension Plan or Multiemployer Pension Plan
which could result in the incurrence by any member of the Controlled Group of
any material liability, fine or penalty (including any claim or demand for
withdrawal liability or partial withdrawal from any Multiemployer Pension Plan),
or any notice that any Multiemployer Pension Plan is in reorganization, that
increased contributions may be required to avoid a reduction in plan benefits or
the imposition of an excise tax, that any such plan is or has been funded at a
rate less than that required under Section 412 of the Code, that any such plan
is or may be terminated (except for the Star Termination), or that any such plan
is or may become insolvent;

    
      
         

      

      
        39

        
          

        

      

      
         

      

    

     

    (d)      any
cancellation (without replacement) or material change in any material insurance
maintained by the Parent or any Subsidiary;

     

    (e)      any
event (including any violation of any Environmental Law or the assertion of any
Environmental Claim) which might reasonably be expected to have a Material
Adverse Effect; or

     

    (f)       any
setoff, claim (including any Environmental Claim), withholding or other defense
to which any material portion of the collateral granted under any Collateral
Document, or the Administrative Agent’s or the Lenders’ rights with respect to
any material portion of such collateral, are subject.

     

    10.1.6 Subsidiaries.  Promptly
upon any change in the list of its Subsidiaries from that set forth on Schedule 9.8 (or in
the most recent notice pursuant to this Section), notification of such
change.

     

    10.1.7 Management
Reports.  Promptly upon the request of the Administrative Agent
or any Lender, copies of all detailed financial and management reports submitted
to the Parent by independent auditors in connection with each annual or interim
audit made by such auditors of the books of the Parent.

     

    10.1.8 Projections.  As
soon as practicable and in any event within 30 days after the commencement of
each Fiscal Year, financial projections for the Parent and its Subsidiaries for
such Fiscal Year prepared in a manner consistent with those projections
delivered by the Parent to the Administrative Agent prior to the Effective
Time.

     

    10.1.9 Other
Information.  From time to time such other information
concerning the Parent and its Subsidiaries as the Administrative Agent or any
Lender may reasonably request.

     

    10.2    Books, Records and
Inspections.  Keep, and cause each Subsidiary to keep, its
books and records in accordance with sound business practices sufficient to
allow the preparation of financial statements in accordance with GAAP; permit,
and cause each Subsidiary to permit, at any reasonable time during normal
business hours and with reasonable prior notice (or at any time without notice
if an Event of Default exists), any Lender or the Administrative Agent or any
representative thereof to inspect any or all of its offices, properties and
operations, to discuss its financial matters with its officers and its
independent auditors (and the Parent hereby authorizes such independent auditors
to discuss such financial matters with any Lender or the Administrative Agent or
any representative thereof whether or not any representative of the Parent or
any Subsidiary is present), and to examine (and, at the expense of the Parent or
the applicable Subsidiary, photocopy extracts from) any of its books or other
corporate records; and permit, and cause each Subsidiary to permit, the
Administrative Agent to perform periodic field examinations of the Parent and
its Subsidiaries at such times as the Administrative Agent or the Required
Lenders (in each case in consultation with the Company) may elect; provided that the
Loan Parties shall not be obligated to pay for more than one field examination
in any Fiscal Year (excluding any field examination conducted at a time when any
Event of Default exists).

    
      
         

      

      
        40

        
          

        

      

      
         

      

    

    10.3    Insurance.  Maintain,
and cause each Subsidiary to maintain, with responsible insurance companies,
such insurance as may be required by any law or governmental regulation or court
decree or order applicable to it and such other insurance, to such extent and
against such hazards and liabilities, as is customarily maintained by companies
similarly situated; and, upon request of the Administrative Agent, furnish to
the Administrative Agent a certificate setting forth in reasonable detail the
nature and extent of all insurance maintained by the Parent and its
Subsidiaries.

     

    10.4    Compliance with Laws,
Material Contracts; Payment of Taxes and Liabilities.  (a)
Comply, and cause each Subsidiary to comply, in all material respects with all
material applicable laws, rules, regulations, decrees, orders, judgments,
licenses, material contracts and permits, noncompliance with which could
reasonably be expected to have, individually or in the aggregate, a Material
Adverse Effect; and (b) pay, and cause each Subsidiary to pay, prior to
delinquency, all United States federal taxes and all other material taxes and
governmental charges against it or any of its property, as well as claims of any
kind which, if unpaid, might become a Lien on any of its property, other than
Liens permitted by Section 10.8; provided that the
foregoing shall not require the Parent or any Subsidiary to pay any such tax or
charge so long as it shall contest the validity thereof in good faith by
appropriate proceedings and shall set aside on its books adequate reserves with
respect thereto in accordance with GAAP.

     

    10.5    Maintenance of Existence,
etc.  Maintain and preserve, and (subject to Section 10.10) cause
each Subsidiary to maintain and preserve, (a) its existence and, if applicable,
good standing in the jurisdiction of its formation; provided that any
Subsidiary (other than the Company) may liquidate or dissolve if the Company
determines in good faith that such liquidation or dissolution is in the best
interests of the Company and is not materially disadvantageous to the Lenders),
and (b) its qualification and good standing as a foreign company in each
jurisdiction where the nature of its business makes such qualification necessary
(except in those instances in which the failure to be qualified or in good
standing does not have a Material Adverse Effect).

     

    10.6    Financial
Covenants.

     

    10.6.1 Fixed Charge Coverage
Ratio.  Not permit the Fixed Charge Coverage Ratio as of the
last day of any Computation Period to be less than 1.25 to 1.0.

     

    10.6.2 Leverage
Ratio.  Not permit the Leverage Ratio as of the last day of any
Fiscal Quarter to exceed 3.50 to 1.0.

     

    10.7    Limitations on
Debt.  Not, and not permit any Subsidiary to, create, incur,
assume or suffer to exist any Debt, except:

     

    (a)      obligations
under this Agreement and the other Loan Documents;

     

    (b)      unsecured
seller Debt which represents all or part of the purchase price payable in
connection with a transaction permitted by Section 10.10(c);
provided that
(i) the aggregate outstanding principal amount of all such Debt shall not at any
time exceed $15,000,000 and (ii) all such Debt shall have terms that are
reasonably acceptable to the Administrative Agent;

     

    (c)       Debt
secured by Liens permitted by Section 10.8(d);
provided that
the aggregate amount of all such Debt at any time outstanding shall not exceed
$2,000,000;

    
      
         

      

      
        41

        
          

        

      

      
         

      

    

     

    (d)       Debt
of Subsidiaries owed to the Parent or any other Subsidiary;

     

    (e)       Hedging
Obligations of the Company or any Subsidiary incurred in the ordinary course of
business for bona fide hedging purposes and not for speculation;

     

    (f)       unsecured
Debt of the Company to Subsidiaries;

     

    (g)       Subordinated
Debt;

     

    (h)       Debt
existing on the date hereof and listed on Schedule 10.7(h), and
refinancings, amendments, restatements, supplements, refundings, renewals or
extensions of any such Debt so long as the principal amount of such Debt (as so
refinanced or otherwise modified) is not increased and the terms applicable to
such Debt (as so refinanced or otherwise modified) are no less favorable to the
Company or the applicable Subsidiary in any material respect than the terms in
effect immediately prior to such refinancing or other modification (except that
interest and fees payable with respect to such Debt (as so refinanced or
modified) may be at the then-prevailing market rates);

     

    (i)       Debt
from the Parent owing to the Company solely to the extent that the proceeds of
such Debt are used by the Parent to pay its taxes and reasonable accounting,
legal and corporate overhead expenses, in each case as they become
due;

     

    (j)       subject
to the limitations set forth in Section 10.8(k), Debt
arising under Capital Leases;

     

    (k)       Suretyship
Liabilities permitted by Section 10.19;
and

     

    (l)       other
Debt in an aggregate principal amount not to exceed $25,000,000 at any
time.

     

    10.8    Liens.  Not,
and not permit any Subsidiary to, create or permit to exist any Lien on any of
its real or personal properties, assets or rights of whatsoever nature (whether
now owned or hereafter acquired), except:

     

    (a)       Liens
for taxes or other governmental charges not at the time delinquent or being
contested in good faith by appropriate proceedings and, in each case, for which
it maintains adequate reserves;

     

    (b)       Liens
arising in the ordinary course of business (such as (i) Liens of carriers,
warehousemen, landlords, mechanics, repairmen and materialmen and other similar
Liens imposed by law, (ii) deposits to secure trade contracts entered into in
the ordinary course of business and (iii) Liens incurred in connection with
worker’s compensation, unemployment compensation and other types of social
security (excluding Liens arising under ERISA) or in connection with leases,
surety bonds, bids, performance bonds and similar obligations) for sums not
overdue for a period of more than 30 days or being contested in good faith by
appropriate proceedings and not involving any deposits (other than deposits in
the ordinary course of business that are customary with respect to the type of
obligations secured and deposits permitted by Section 10.19(f), but
excluding bonds of the types described in subsection (e) below)
or advances or borrowed money or the deferred purchase price of property or
services, and, in each case, for which it maintains adequate
reserves;

    
      
         

      

      
        42

        
          

        

      

      
         

      

    

     

    (c)      Liens
identified in Schedule
10.8 and Liens securing refinancings, refundings, renewals, replacements
or extensions of the Debt originally secured by such Liens; provided that the
amount of Debt secured thereby is not increased;

     

    (d)      subject
to the limitations set forth in Section 10.7(c), (i)
Liens existing on property at the time of the acquisition thereof by the Company
or any Subsidiary (and not created in contemplation of such acquisition) and
(ii) Liens that constitute purchase money security interests on any property
securing debt  incurred for the purpose of financing all or any part
of the cost of acquiring, constructing or improving such property, provided that any
such Lien attaches to such property within 60 days of the acquisition thereof
and such Lien attaches solely to the property so acquired, and any refinancing,
amendment, restatement, supplement, renewal or extension of any such Lien (or
the debt secured thereby) so long as the principal amount of the obligations
secured by such Lien is not increased and such Lien does not extend to any other
property of the Company or any Subsidiary;

     

    (e)       attachments,
appeal bonds, judgments and other similar Liens, for sums not exceeding
$1,000,000 in the aggregate arising in connection with court proceedings,
provided the execution or other enforcement of such Liens is effectively stayed
and the claims secured thereby are being actively contested in good faith and by
appropriate proceedings;

     

    (f)       leases,
subleases, encroachments, subdivisions, easements, rights of way, restrictions,
minor defects or irregularities in title and other similar Liens not interfering
in any material respect with the ordinary conduct of the business of the Company
or any Subsidiary;

     

    (g)      Liens
in favor of the Administrative Agent arising under the Loan
Documents;

     

    (h)      Liens
arising solely by virtue of any statutory or common law provision relating to
banker’s liens, rights of set-off or similar rights and remedies as to deposit
accounts or other funds maintained with a creditor depository
institution;

     

    (i)        licenses
of patents, trademarks, or other intellectual property rights granted in the
ordinary course of business;

     

    (j)        any
interest or title of a lessor, licensor or sublessor under any lease or license
entered into the ordinary course of its business and covering only the assets so
leased or licensed;

     

    (k)       Liens
arising under Capital Leases, Liens securing Subordinated Debt and other Liens
not otherwise permitted by this Section 10.8 so
long as the aggregate outstanding principal amount of the obligations secured by
the foregoing does not exceed $10,000,000 at any time outstanding;

     

    (l)        Liens
deemed to exist in connection with Investments in repurchase agreements
permitted by Section
10.19;

    
      
         

      

      
        43

        
          

        

      

      
         

      

    

     

    (m)      Liens
securing Debt facilities of Foreign Subsidiaries provided the aggregate
outstanding principal amount of all obligations so secured will not at any time
exceed $15,000,000; and

     

    (n)       Liens
on Unrestricted Margin Stock.

     

    10.9     Restricted
Payments.  Not, and not permit any Subsidiary to, (a) declare
or pay any dividends on any of its capital stock (other than stock dividends),
(b) purchase or redeem any such stock or any warrants, options or other similar
rights in respect of such stock, (c) make any other distribution to any
shareholder with respect to such shareholder’s equity interest, (d) pay any
principal or interest on, or purchase, redeem or defease, any Subordinated Debt,
or (e) set aside funds for any of the foregoing; provided that (i) any
Subsidiary may declare and pay dividends to the Company or to any other
Subsidiary, (ii) the Company or the Parent, as the case may be, may make
regularly scheduled payments on any Subordinated Debt if the holder of such
Subordinated Debt is permitted to receive such payments at such time under the
applicable agreement or instrument governing such Subordinated Debt and any
applicable subordination agreement and/or intercreditor agreement, (iii) the
Company or any Subsidiary may declare and pay dividends to the Parent to the
extent necessary to enable the Parent to pay its taxes, accounting, legal and
corporate overhead expenses as they become due, (iv) the Parent and any of its
Subsidiaries may (A) purchase, redeem, retire or otherwise acquire shares of its
capital stock or warrants or options from current or former officers, directors
or employees of the Parent or any of its Subsidiaries upon the death,
disability, resignation or termination of employment of such individual in an
aggregate amount not to exceed $100,000 in any Fiscal Year and (B) redeem stock
or options in connection with its equity plans in an aggregate amount not to
exceed $5,000,000 in any Fiscal Year (and the Company may declare and pay
dividends to the Parent to the extent necessary to enable the Parent to make
such redemptions); (v) so long as no Event of Default or Unmatured Event of
Default exists or will result therefrom, the Company and any of its Subsidiaries
may declare and pay dividends to the Parent to the extent necessary to enable
the Parent to make regularly scheduled payments on any Subordinated Debt if the
holder of such Subordinated Debt is permitted to receive such payments at such
time under any applicable subordination agreement and/or intercreditor
agreement; (vi) so long as no Event of Default or Unmatured Event of Default
exists or will result therefrom, the Parent may declare cash dividends to its
shareholders or repurchase shares of its stock from shareholders (such dividends
and repurchases “Shareholder
Payments”) so long as the amount of dividends declared and stock
repurchased in any Computation Period shall not exceed 15% of EBITDA for such
Computation Period; and (vii) the Parent may pay cash dividends declared in
accordance with the foregoing clause (vi) and the
Company may pay dividends to the Parent to the extent necessary to enable the
Parent to make Shareholder Payments.

     

    10.10  Mergers, Consolidations,
Sales.  Not, and not permit any Subsidiary to, be a party to
any merger or consolidation, or purchase or otherwise acquire all or
substantially all of the assets or any stock of any class of, or any partnership
or joint venture interest in, any other Person, or (except for the sale or lease
of inventory in the ordinary course of business) sell, transfer, convey or lease
all or any substantial part of its assets, or sell or assign with or without
recourse any receivables, except for (a) any such merger or consolidation, sale,
transfer, conveyance, lease or assignment of or by any wholly-owned Subsidiary
into the Company or into, with or to any other wholly-owned Subsidiary; (b) any
such purchase or other acquisition (and the corresponding sale or other
transfer) by the Company or any wholly-owned Subsidiary of the assets or stock
of any wholly-owned Subsidiary; (c) any Permitted Acquisition; (d) sales or
assignments of receivables in the ordinary course of business consistent with
past practice; (e) sales and other dispositions of Unrestricted Margin Stock;
(f) sales and dispositions of assets (including the stock of Subsidiaries) so
long as the net book value of all assets sold or otherwise disposed of in any
Fiscal Year (excluding sales and assignments described in clause (a), (b), (d) or (e) above) does not
exceed $10,000,000; and (g) Investments permitted by Section
10.19(n).

    
      
         

      

      
        44

        
          

        

      

      
         

      

    

     

    10.11  Use of Proceeds; Restriction
on Margin Stock.  Use the proceeds of the Loans solely to
finance the Star Merger, to finance fees and expenses associated with the Star
Merger; to refinance existing Debt of the Company and the Target; and to finance
the working capital of the Company and its Subsidiaries, to pay expenses and
fees on connection with the refinancing of the existing Debt, for permitted
capital expenditures, to make Permitted Acquisitions and for other general
corporate purposes; and not purchase or otherwise acquire, directly or
indirectly, any Margin Stock other than Unrestricted Margin Stock.

     

    10.12  Further
Assurances.  Take, and cause each Subsidiary to take, such
actions as are necessary, or as the Administrative Agent (or the Required
Lenders acting through the Administrative Agent) may reasonably request, from
time to time (including the execution and delivery of guaranties, security
agreements, pledge agreements, financing statements, mortgages, deeds of trust,
Collateral Access Agreements and other documents, the filing or recording of any
of the foregoing, the delivery of stock certificates, notes and other collateral
with respect to which perfection is customarily obtained by possession, and the
delivery of opinions of counsel with respect to any of such documents) to ensure
that (i) the obligations of the Company hereunder and under the other Loan
Documents and any Hedging Obligations of the Company owing to any Lender or any
Affiliate of any Lender are secured by first-priority Liens (subject only to
Liens permitted by the Loan Documents) on substantially all of the assets of the
Company and guaranteed by all of the Subsidiaries (including, promptly upon the
acquisition or creation thereof, any Subsidiary acquired or created after the
date hereof) by execution of a counterpart of the Subsidiary Guaranty; provided that no
Foreign Subsidiary shall have an obligation to execute a counterpart of the
Subsidiary Guaranty; and (ii) the obligations of the Parent under the Parent
Guaranty and of each Subsidiary Guarantor under the Subsidiary Guaranty and any
Hedging Obligations of the Parent or such Subsidiary Guarantor owing to any
Lender or any Affiliate of any Lender are secured by first-priority Liens
(subject only to Liens permitted by the Loan Documents) on substantially all of
the assets of the Parent or such Subsidiary
Guarantor.  Notwithstanding the foregoing or any other provision of
any Loan Document, (a) without limiting clause (c) below,
neither the Parent, the Company nor any other domestic Subsidiary shall be
required to pledge more than 65% of the stock of any Foreign Subsidiary; (b) no
Foreign Subsidiary shall be required to pledge any of its assets, including the
stock of any other Foreign Subsidiary; and (c) unless requested by the
Administrative Agent or the Required Lenders, neither the Company nor any
domestic Subsidiary shall be required to pledge any stock of Middleby Japan
Corporation, G.S. Blodgett International, Limited, Fab Asia, Middleby Korea
Corporation, Middleby China Corporation, Middleby España, S.L. or any other
Foreign Subsidiary created or acquired after the date hereof.

     

    10.13  Transactions with
Affiliates.  Not, and not permit any Subsidiary to, enter into,
or cause, suffer or permit to exist any transaction, arrangement or contract
with any of its other Affiliates (other than the Parent and its Subsidiaries)
which is on terms which are less favorable than are obtainable from any Person
which is not one of its Affiliates; provided that the
Parent may reimburse reasonable expenses and pay reasonable compensation and
provide indemnification and insurance to its officers and directors consistent
with past practice.

    
      
         

      

      
        45

        
          

        

      

      
         

      

    

     

    10.14  Employee Benefit
Plans.  Maintain, and cause each Subsidiary to maintain, each
Pension Plan in substantial compliance with all applicable requirements of law
and regulations.

     

    10.15  Environmental
Laws.  Conduct, and cause each Subsidiary to conduct, its
operations and keep and maintain its property in material compliance with all
Environmental Laws (other than Immaterial Laws).

     

    10.16  Unconditional Purchase
Obligations.  Not, and not permit any Subsidiary to, enter into
or be a party to any material contract for the purchase of materials, supplies
or other property or services, if such contract requires that payment be made by
it regardless of whether or not delivery is ever made of such materials,
supplies or other property or services; provided that the
foregoing shall not prohibit the Parent or any Subsidiary from entering into
options for the purchase of particular assets or businesses.

     

    10.17  Inconsistent
Agreements.  Not, and not permit any Subsidiary to, enter into
any loan or credit agreement, indenture or other material instrument or document
containing any provision which (a) would be violated or breached by any
borrowing, or the obtaining of any Letter of Credit, by the Company hereunder or
by the performance by the Parent, the Company or any other Subsidiary of any of
its obligations hereunder or under any other Loan Document or (b) would prohibit
the Parent, the Company or any other domestic Subsidiary from granting to the
Administrative Agent, for the benefit of the Lenders, a Lien on any of its
assets (other than (i) any prohibition with respect to an asset subject to a
Lien or purchase money security interest securing Debt permitted by Section 10.7(c) or
10.7(j) or a
Lien permitted by Section 10.8(c)),
(ii) customary non-assignment provisions in leases not prohibited by the terms
of this Agreement), (iii) any prohibition applicable solely to the property or
assets of any Foreign Subsidiary and (iv) any prohibition pursuant to customary
agreements providing for the licensing of intellectual property by third parties
to the Parent or any Subsidiary in the ordinary course of business that
restricts the sublicensing, pledge, transfer or assignment of the licensee’s
rights thereunder.

     

    10.18  Business
Activities.  (a) Not engage in any business activity other than
(i) the ownership of the capital stock of the Company and (ii) activities
incidental thereto and (b) not permit any Subsidiary to engage in any line of
business other than those engaged in by the Company and its Subsidiaries at the
Effective Time and businesses reasonably related thereto.

     

    10.19  Advances and Other
Investments.  Not, and not permit any Subsidiary to, make,
incur, assume or suffer to exist any Investment in any other Person, except
(without duplication) the following:

     

    (a)       equity
Investments existing at the Effective Time in Subsidiaries identified in Schedule
9.8;

     

    (b)       equity
Investments in Subsidiaries (or entities which are to become Subsidiaries) in
connection with transactions permitted by Section 10.10(a),
(b) or (c);

    
      
         

      

      
        46

        
          

        

      

      
         

      

    

     

    (c)       in
the ordinary course of business, contributions by the Parent to the capital of
the Company, by the Company to any of its Subsidiaries or by any such Subsidiary
to the capital of any of its Subsidiaries;

     

    (d)      in
the ordinary course of business, Investments by the Parent in the Company, by
the Company in any of its Subsidiaries or by any Subsidiary in the Company or
any other Subsidiary of the Company, by way of intercompany loans, advances or
guaranties of the obligations of such other Persons;

     

    (e)       Suretyship
Liabilities permitted by Section
10.7;

     

    (f)       good
faith deposits and the like made in connection with prospective Acquisitions
permitted by Section
10.10;

     

    (g)      Cash
Equivalent Investments;

     

    (h)      bank
deposits in the ordinary course of business and consistent with past practice;
provided that
the aggregate amount of all such deposits (excluding (x) amounts in payroll
accounts, disbursement accounts or for accounts payable, in each case to the
extent that checks have been issued to third parties and (y) amounts maintained
(in the ordinary course of business consistent with past practice) in accounts
of any Person which is acquired by the Parent or a Subsidiary in accordance with
the terms hereof during the 45 days following the date of such Acquisition)
which are maintained by the Parent and its domestic Subsidiaries with any bank
that is not a Lender shall not at any time exceed $500,000 in the
aggregate;

     

    (i)       Investments
received in connection with the creation and collection of receivables in the
ordinary course of business;

     

    (j)       Investments
set forth on Schedule
10.19;

     

    (k)       Permitted
Acquisitions;

     

    (l)       Investments
in mutual funds not otherwise permitted by clauses (a) through
(k) above in an
aggregate amount not to exceed $2,000,000 at any time outstanding;

     

    (m)      Loans
to the Parent permitted by Section 10.7(i);
and

     

    (n)      other
Investments in an aggregate amount (valued at cost) not exceeding $1,000,000 at
any time outstanding;

     

    provided that no
Investment otherwise permitted by clause (b), (e) or (f) shall be
permitted to be made if, immediately before or after giving effect thereto, any
Event of Default or Unmatured Event of Default shall have occurred and be
continuing.

     

    10.20  Foreign
Subsidiaries.  Not at any time permit more than 25% of its
consolidated assets to be owned by, or more than 45% of its consolidated
revenues for any Fiscal Quarter to be earned by, Foreign
Subsidiaries.

    
      
         

      

      
        47

        
          

        

      

      
         

      

    

    10.21  Amendments to Certain
Documents.  Not, and not permit any Subsidiary to, make or agree to
any amendment to or modification of, or waive any of its rights under, any of
the terms of (a) the Star Acquisition Agreement if such amendment, modification
or waiver would adversely affect the interests of the Lenders in any material
respect or (b) any agreement or instrument governing any Subordinated Debt which
would (i) have the effect of (x) providing for earlier payment in respect of
principal or redemptions or otherwise, (y) requiring collateral or guarantees to
secure any Subordinated Debt or (z) increasing the interest rate payable with
respect to any Subordinated Debt or (ii) otherwise adversely affect the interest
of the Lenders in any material respect.

     

    10.22  Real Estate
Documents.

     

    (a)      Within
60 days after the Effective Time deliver to the Agent a title insurance date
down endorsement and other documents related to real estate collateral as the
Administrative Agent may reasonably request.

     

    (b)      In
the case of each parcel of real property acquired in fee by the Company or any
domestic Subsidiary after the date hereof, deliver to the Administrative Agent
promptly after the acquisition of such real property (i) an ALTA Loan Title
Insurance Policy issued by an insurer acceptable to the Administrative Agent
(and, for purposes hereof, the Administrative Agent acknowledges that Chicago
Title Insurance Company and Stewart Title Company are acceptable insurers) or a
title insurance binder thereof marked by an authorized representative of such
title company, insuring the Administrative Agent’s Lien on such real property
and containing such endorsements as the Administrative Agent may reasonably
require (it being understood that the amount of coverage, exceptions to coverage
and status of title set forth in such policy shall be reasonably acceptable to
the Administrative Agent), (ii) copies of all documents of record concerning
such real property as shown on the commitment for the ALTA Loan Title Insurance
Policy referred to in clause (i) and (iii)
a flood insurance policy concerning such real property, reasonably satisfactory
to the Administrative Agent, if required by the Flood Disaster Protection Act of
1973.

     

    (c)      In
the case of each parcel of real property leased (as lessee) by the Company or
any domestic Subsidiary after the Effective Time, use commercially reasonable
efforts to deliver, or to cause to be delivered to the Administrative Agent
promptly after the effectiveness of such lease, (i) a Collateral Access
Agreement from the owner and each mortgagee of such property waiving any
landlord’s or mortgagee’s Lien in respect of personal property of any Loan Party
kept at the premises subject to such lease (unless the delivery of such
Collateral Access Agreement is waived by the Administrative Agent); and (ii) if
requested by the Administrative Agent, a leasehold Mortgage for such property
and the documents listed in clause (a) above with
respect to such property.

     

    SECTION
11 EFFECTIVENESS; CONDITIONS OF LENDING, ETC.

     

    11.1   Effectiveness.   This
Agreement shall become effective at the time (the “Effective Time”) at
which the Administrative Agent shall have received (a) all amounts which are
then due and payable pursuant to Section 5 and (to the
extent billed) Section
15.6; (b) evidence satisfactory to the Administrative Agent that all
filings required by the Administrative Agent to perfect the Administrative
Agent’s Lien on the collateral under the Collateral Documents have been duly
made and are in full force and effect; and (c) all of the following, each duly
executed and dated a date satisfactory to the Administrative Agent, each in form
and substance reasonably satisfactory to the Administrative Agent, and each in
sufficient number of signed counterparts to provide one for each
Lender.

     

    

    
      
        
           

        

        
          48

          
            

          

        

        
           

        

      

    

    

    11.1.1 Resolutions.  Certified
copies of resolutions of the Board of Directors (or equivalent governing
body) of each of the Parent and the Company authorizing or ratifying the
execution, delivery and performance by such Person of each Loan Document to
which it is a party.

     

    11.1.2 Other Consents,
etc.  Certified copies of all documents evidencing any
necessary corporate action, consents and governmental approvals (if any)
required for the execution, delivery and performance by each of the Parent and
the Company of the documents referred to in this Section
11.

     

    11.1.3 Incumbency and Signature
Certificates.  A certificate of the Secretary or an
Assistant Secretary of each of the Parent and the Company as of the Effective
Time certifying the names of the officer or officers of such entity authorized
to sign the Loan Documents to which such entity is a party, together with a
sample of the true signature of each such officer (it being understood that the
Administrative Agent and each Lender may conclusively rely on each such
certificate until formally advised by a like certificate of any changes
therein).

     

    11.1.4 Confirmation.  The
Confirmation executed by each Loan Party.

     

    11.1.5 Opinion of Counsel for the
Loan Parties.  The opinion of Skadden, Arps, Slate,
Meagher & Flom LLP, counsel to the Loan Parties.

     

    11.1.6 Star
Merger.  Certified copies of the Star Acquisition Agreement,
together with a certificate from a Responsible Financial Officer certifying
that:

     

    (a)       the
Star Merger has been, or concurrently with the making of the initial Credit
Extensions hereunder will be, consummated in all material respects in accordance
with the terms of the Star Acquisition Agreement and in compliance in all
material respects with applicable law and regulatory approvals;

     

    (b)      no
amendment, waiver or modification has been made to the Star Acquisition
Agreement unless approved by the Administrative Agent (such approval not to be
unreasonably withheld or delayed and not required for (i) any amendment, waiver
or modification to correct an ambiguity or (ii) any amendment, waiver or
modification that could not reasonably be expected to adversely affect in any
material respect the interests of the Administrative Agent or any Lender under
or with respect to the credit facilities provided hereunder);

     

    (c)      the
consummation of the Star Merger does not violate in any material respect any
statute or regulation of the United States or any other applicable jurisdiction,
or any material order, judgment or decree of any court or other Governmental
Authority, or result in a breach of, or constitute a default under, any material
agreement or indenture, or any material order or decree, affecting the Parent or
any Subsidiary; and

    

    
      
        
           

        

        
          49

          
            

          

        

        
           

        

      

    

    

    (d)      the
representations and warranties of the Company and Merger Sub in the Star
Acquisition Agreement are true and correct in all material
respects.

     

    (e)      To
the best of the Company's knowledge, the Company has no right to terminate the
Star Acquisition Agreement as a result of the inaccuracy of any representation
or warranty made by the Target and Weston Presidio Fund IV, L.P.
therein

     

    11.1.7 Compliance
Certificate.  A compliance certificate substantially in the
form of Exhibit
A showing pro forma compliance with the financial covenants set forth in
Section 10.6 as
of September 29, 2007.

     

    11.1.8 Amendments to
Mortgages.  An amendment to each existing Mortgage.

     

    11.1.9 Form
U-1.  An appropriately completed Federal Reserve Form U-1 for
each Lender.

     

    11.1.10 Other.  Such
other documents as the Administrative Agent or any Lender through the
Administrative Agent may reasonably request.

     

    11.2    Conditions to All Credit
Extensions.  The obligation (a) of each Lender to make any Loan
and (b) of each Issuing Lender to issue any Letter of Credit is subject to the
condition that the Effective Time shall have occurred and to the following
further conditions precedent:

     

    11.2.2 Compliance with
Representations and Warranties, No Default, etc.  Both before
and after giving effect to each Credit Extension, the following statements shall
be true and correct:

     

    (a)      the
representations and warranties of each Loan Party set forth in this Agreement
and the other Loan Documents shall be true and correct in all material respects
with the same effect as if then made (except to the extent stated to relate to
an earlier date, in which case such representations and warranties shall be true
and correct in all material respects as of such earlier date); and

     

    (b)      no
Event of Default or Unmatured Event of Default shall have then occurred and be
continuing.

     

    11.2.3 Confirmatory
Certificate.  If requested by the Administrative Agent or any
Lender (acting through the Administrative Agent), the Administrative Agent shall
have received (in sufficient counterparts to provide one to each Lender) a
certificate dated the date of such requested Credit Extension and signed by a
duly authorized representative of the Company as to the matters set out in Section 11.2.1 (it
being understood that each request by the Company for a Credit Extension shall
be deemed to constitute a representation and warranty by the Company that the
conditions precedent set forth in Section 11.2.1 will
be satisfied at the time of the making of such Credit Extension), together with
such other documents as the Administrative Agent or any Lender (acting through
the Administrative Agent) may reasonably request in support
thereof.

    

    
      
        
           

        

        
          50

          
            

          

        

        
           

        

      

    

    

    SECTION
12 EVENTS OF DEFAULT AND THEIR EFFECT.

     

    12.1    Events of
Default.  Each of the following shall constitute an Event
of Default under this Agreement:

     

    12.1.1 Non-Payment of the Loans,
etc.  Default in the payment when due of the principal of any
Loan; default, and continuance thereof for three Business Days after notice from
the applicable Issuing Lender, in the payment when due of any reimbursement
obligation with respect to any Letter of Credit; or default, and continuance
thereof for five days, in the payment when due of any interest, fee or other
amount payable by the Company hereunder or under any other Loan
Document.

     

    12.1.2 Non-Payment of Other
Debt.  Any default shall occur under the terms applicable to
any Debt of the Parent or any Subsidiary in an aggregate principal amount (in
any case for all such Debt so affected) exceeding $2,500,000 and such default
shall (a) consist of the failure to pay such Debt when due (subject to the
expiration of any applicable grace period), whether by acceleration or
otherwise, or (b) accelerate the maturity of such Debt or permit the holder or
holders thereof (subject to the expiration of any applicable grace period), or
any trustee or agent for such holder or holders, to cause such Debt to become
due and payable prior to its expressed maturity.

     

    12.1.3 Bankruptcy, Insolvency,
etc.  The Parent or any Subsidiary becomes insolvent or
generally fails to pay, or admits in writing its inability to pay, debts as they
become due; or the Parent or any Subsidiary applies for, consents to, or
acquiesces in the appointment of a trustee, receiver or other custodian for the
Parent or such Subsidiary or any substantial part of the property thereof, or
makes a general assignment for the benefit of creditors; or, in the absence of
such application, consent or acquiescence, a trustee, receiver or other
custodian is appointed for the Parent or any Subsidiary or for any substantial
part of the property thereof and is not discharged within 60 days; or any
bankruptcy, reorganization, debt arrangement, or other case or proceeding under
any bankruptcy or insolvency law, or any dissolution or liquidation proceeding
(except the voluntary dissolution, not under any bankruptcy or insolvency law,
of a Subsidiary), is commenced in respect of the Parent or any Subsidiary, and
if such case or proceeding is not commenced by the Parent or such Subsidiary, it
is consented to or acquiesced in by the Parent or such Subsidiary, or remains
for 60 days undismissed; or the Parent or any Subsidiary takes any corporate
action to authorize, or in furtherance of, any of the foregoing.

     

    12.1.4 Non-Compliance with
Provisions of This Agreement.  (a) Failure by the Parent to
comply with or to perform any covenant set forth in Sections 10.2, 10.5(a) (with respect
to the Parent or the Company), 10.6 through 10.13, 10.17, 10.18, 10.19 or 10.21; or (b) failure
by the Parent to comply with or to perform any other provision of this Agreement
(and not constituting an Event of Default under any of the other provisions of
this Section
12) and continuance of such failure for 30 days (less, in the case of
Section
10.1.5(a), the number of days elapsed from the second Business Day after
a Responsible Officer obtains knowledge of such failure to the date on which the
Company provides the notice required by such Section) after notice thereof to
the Company from the Administrative Agent (or any Lender through the
Administrative Agent).

     

    12.1.5 
Representations and
Warranties.  Any representation or warranty made by any Loan
Party herein or in any other Loan Document, or in any statement or certificate
at any time given by such Loan Party in writing in connection herewith or
therewith, is false or misleading in any material respect on or as of the date
made or deemed made.

    

    
      
        
           

        

        
          51

          
            

          

        

        
           

        

      

    

    

    12.1.6 Pension
Plans.  (i) Institution of any steps by any Loan Party or any
other Person to terminate a Pension Plan (other than in connection with the Star
Termination) if as a result of such termination such Loan Party could be
required to make a contribution to such Pension Plan, or could incur a liability
or obligation to such Pension Plan, in excess of $1,000,000; (ii) a contribution
failure occurs with respect to any Pension Plan sufficient to give rise to a
Lien under section 302(f) of ERISA; or (iii) there shall occur any withdrawal or
partial withdrawal from a Multiemployer Pension Plan and the withdrawal
liability (without unaccrued interest) to Multiemployer Pension Plans as a
result of such withdrawal (including any outstanding withdrawal liability that
the Parent and the Controlled Group has incurred on the date of such withdrawal)
exceeds $1,000,000.

     

    12.1.7 Judgments.  Final
judgments which exceed an aggregate (to the extent not covered by independent
third-party insurance as to which the insurer does not dispute coverage) of
$2,500,000 shall be rendered against the Parent or any Subsidiary and shall not
have been paid, discharged or vacated or had execution thereof stayed pending
appeal within 30 days after entry or filing of such judgments.

     

    12.1.8 Invalidity of Subsidiary
Guaranty, etc.  The Subsidiary Guaranty or the Parent Guaranty
shall cease to be in full force and effect with respect to any Subsidiary
Guarantor or the Parent, respectively (unless, in the case of a Subsidiary
Guarantor, such Subsidiary Guarantor ceases to be a Subsidiary pursuant to a
transaction permitted hereby); any Subsidiary Guarantor or the Parent shall fail
(subject to any applicable grace period) to comply with or to perform any
applicable provision of the Subsidiary Guaranty or the Parent Guaranty,
respectively; or any Subsidiary Guarantor or the Parent (or any Person by,
through or on behalf of such Subsidiary Guarantor or the Parent) shall contest
in any manner the validity, binding nature or enforceability of the Subsidiary
Guaranty or the Parent Guaranty, respectively, with respect to such Subsidiary
Guarantor or the Parent, respectively.

     

    12.1.9 Invalidity of Collateral
Documents, etc.  (a) Any Collateral Document shall cease to be
in full force and effect with respect to any Loan Party (unless such Loan Party
ceases to be a Subsidiary pursuant to a transaction permitted by Section 10.10); (b)
any Loan Party shall fail to comply with or to perform any applicable provision
of any Collateral Document to which such entity is a party and such failure (i)
affects a material portion of the collateral granted under such Collateral
Document or (ii) continues for 10 days after a Responsible Officer obtains
knowledge thereof; or (c) any Loan Party (or any Person by, through or on behalf
of such Loan Party) shall contest in any manner the validity, binding nature or
enforceability of any Collateral Document.

     

    12.1.10 Change in
Control.   A Change in Control shall occur.

    

    
      
        
           

        

        
          52

          
            

          

        

        
           

        

      

    

    

    12.2    Effect of Event of
Default.  If any Event of Default described in Section 12.1.3 shall
occur, the Commitments (if they have not theretofore terminated) shall
immediately terminate and the Loans and all other obligations hereunder shall
become immediately due and payable and the Company shall become immediately
obligated to deliver to the Administrative Agent cash collateral in an amount
equal to the outstanding face amount of all Letters of Credit, all without
presentment, demand, protest or notice of any kind; and, if any other Event of
Default shall occur and be continuing, the Administrative Agent (upon written
request of the Required Lenders) shall declare the Commitments (if they have not
theretofore terminated) to be terminated and/or declare all Loans and all other
obligations hereunder to be due and payable and/or demand that the Company
immediately deliver to the Administrative Agent cash collateral in amount equal
to the outstanding face amount of all Letters of Credit, whereupon the
Commitments (if they have not theretofore terminated) shall immediately
terminate and/or all Loans and all other obligations hereunder shall become
immediately due and payable and/or the Company shall immediately become
obligated to deliver to the Administrative Agent cash collateral in an amount
equal to the face amount of all Letters of Credit, all without presentment,
demand, protest or notice of any kind.  The Administrative Agent shall
promptly advise the Company of any such declaration, but failure to do so shall
not impair the effect of such declaration.  Any cash collateral
delivered hereunder shall be held by the Administrative Agent (without liability
for interest thereon) and applied to obligations arising in connection with any
drawing under a Letter of Credit.  After the expiration or termination
of all Letters of Credit, such cash collateral shall be applied by the
Administrative Agent to any remaining obligations hereunder and any excess shall
be delivered to the Company or as a court of competent jurisdiction may
elect.

     

    SECTION
13   PARENT GUARANTY

     

    13.1    The
Guaranty.  The Parent hereby irrevocably and unconditionally
guarantees as a primary obligor the full and punctual payment when due (whether
at stated maturity, upon acceleration or otherwise) of all Guaranteed
Obligations, including all principal of the Loans, all reimbursement obligations
in respect of Letters of Credit, all interest on the foregoing and all fees
payable hereunder (including all interest and fees accruing after the
commencement of a bankruptcy, insolvency or similar proceeding with respect to
the Company, regardless of whether such interest or fees constitute an allowed
claim in such proceeding) and all other amounts payable hereunder or any other
Loan Document.

     

    13.2    
Guaranty
Unconditional.  The obligations of the Parent under this Section 13 shall be
irrevocable, unconditional and absolute and, without limiting the generality of
the foregoing, shall not be released, discharged or otherwise affected
by:

     

    (a)      
any extension, renewal, settlement, compromise, waiver or release in respect of
any obligation of the Company or any Subsidiary Guarantor under this Agreement,
any other Loan Document or any applicable Hedging Agreement, by operation of law
or otherwise (other than payment in full of the Guaranteed
Obligations);

     

    (b)      any
modification or amendment of or supplement to this Agreement, any other Loan
Document or any applicable Hedging Agreement;

     

    (c)      any
release, impairment, non-perfection or invalidity of any direct or indirect
security for any obligation of the Company under this Agreement, any other Loan
Document or any applicable Hedging Agreement;

     

    (d)      any
change in the existence, structure or ownership of the Company, or any
insolvency, bankruptcy, reorganization or other similar proceeding affecting the
Company or its assets or any resulting release or discharge of any obligation of
the Company contained in this Agreement, any other Loan Document or any
applicable Hedging Agreement (other than payment in full of the Guaranteed
Obligations);

    

    
      
        
           

        

        
          53

          
            

          

        

        
           

        

      

    

    

    (e)      the
existence of any claim, set-off or other right which the Parent may have at any
time against the Company, the Administrative Agent, any Lender or any other
Person, whether in connection with this Agreement, any other Loan
Document,  any applicable Hedging Agreement or any unrelated
transaction;

     

    (f)      
any invalidity or unenforceability relating to or against the Company for any
reason of this Agreement, any other Loan Document or any applicable Hedging
Agreement, or any provision of applicable law or regulation purporting to
prohibit the payment by the Company of the principal of or interest on any
Loan,  any amounts payable with respect to any Letter of Credit, any
other amount payable by it under this Agreement, any other Loan Document or any
applicable Hedging Agreement; or

     

    (g)      any
other act or omission to act or delay of any kind by the Company, the
Administrative Agent, any Lender or any other Person or any other circumstance
whatsoever which might, but for the provisions of this paragraph, constitute a
legal or equitable discharge of or defense to the Parent’s obligations
hereunder.

     

    13.3    Discharge Only Upon Payment
In Full; Reinstatement In Certain Circumstances.  The Parent’s
obligations hereunder shall remain in full force and effect until the
Commitments and all Letters of Credit shall have terminated and all Guaranteed
Obligations shall have been paid in full in cash (other than in respect of
contingent indemnification obligations with respect to which the Administrative
Agent and the Lenders have not asserted a claim against any Loan
Party).  If at any time any payment of principal of or interest on any
Loan, any amount payable with respect to any Letter of Credit, any other amount
payable by the Company under this Agreement, any other Loan Document or any
applicable Hedging Agreement is rescinded or must be otherwise restored or
returned upon the insolvency, bankruptcy or reorganization of the Company or
otherwise, the Parent’s obligations hereunder with respect to such payment shall
be reinstated at such time as though such payment had been due but not made at
such time.

     

    13.4    Waiver by the
Parent.  The Parent irrevocably waives acceptance hereof,
presentment, demand, protest and any notice not provided for herein, as well as
any requirement that at any time any action be taken by any Person against the
Company or any other Person.

     

    13.5    Delay of
Subrogation.  Notwithstanding any payment made by or on behalf
of the Parent under this Section 13, the
Parent shall not exercise any right of subrogation to any right of the
Administrative Agent or any Lender until such time as the Administrative Agent
and the Lenders shall have received payment in cash of the full amount of all
Guaranteed Obligations, the expiration or termination of all Letters of Credit
and the termination of the Commitments.

     

    13.6    Stay of
Acceleration.  In the event that acceleration of the time for
payment of any amount payable by the Company under this Agreement, any other
Loan Document or any applicable Hedging Agreement is stayed upon insolvency,
bankruptcy or reorganization of the Company, all such amounts otherwise subject
to acceleration under the terms of this Agreement shall nonetheless be payable
by the Parent under this Section 13 forthwith
on demand by the Administrative Agent made at the written request of the
Required Lenders.

    
 

    
      
        
           

        

        
          54

          
            

          

        

        
           

        

      

    

    

    SECTION
14 THE ADMINISTRATIVE AGENT.

     

    14.1    Appointment and
Authorization.  (a) Each Lender hereby irrevocably (subject to
Section 14.9)
appoints, designates and authorizes the Administrative Agent to take such action
on its behalf under the provisions of this Agreement and each other Loan
Document and to exercise such powers and perform such duties as are expressly
delegated to it by the terms of this Agreement or any other Loan Document,
together with such powers as are reasonably incidental
thereto.  Notwithstanding any provision to the contrary contained
elsewhere in this Agreement or in any other Loan Document, the Administrative
Agent shall not have any duties or responsibilities except those expressly set
forth herein, nor shall the Administrative Agent have or be deemed to have any
fiduciary relationship with any Lender, and no implied covenants, functions,
responsibilities, duties, obligations or liabilities shall be read into this
Agreement or any other Loan Document or otherwise exist against the
Administrative Agent.  Without limiting the generality of the
foregoing sentence, the use of the term “agent” herein and in the other Loan
Documents with reference to the Administrative Agent is not intended to connote
any fiduciary or other implied (or express) obligations arising under agency
doctrine of any applicable law.  Instead, such term is used merely as
a matter of market custom, and is intended to create or reflect only an
administrative relationship between independent contracting
parties.

     

    (b)      Each
Issuing Lender shall act on behalf of the Lenders with respect to any Letters of
Credit issued by it and the documents associated therewith.  Each
Issuing Lender shall have all of the benefits and immunities (i) provided to the
Administrative Agent in this Section 14 with
respect to any acts taken or omissions suffered by such Issuing Lender in
connection with Letters of Credit issued by it or proposed to be issued by it
and the applications and agreements for letters of credit pertaining to such
Letters of Credit as fully as if the term “Administrative Agent”, as used in
this Section
14, included such Issuing Lender with respect to such acts or omissions
and (ii) as additionally provided in this Agreement with respect to the Issuing
Lenders.

     

    (c)      The
Swing Line Lender shall have all of the benefits and immunities (i) provided to
the Administrative Agent in this Section 14 with
respect to any acts taken or omissions suffered by the Swing Line Lender in
connection with Swing Line Loans made or proposed to be made by it as fully as
if the term “Administrative Agent”, as used in this Section 14, included
the Swing Line Lender with respect to such acts or omissions and (ii) as
additionally provided in this Agreement with respect to the Swing Line
Lender.

     

    14.2    Delegation of
Duties.  The Administrative Agent may execute any of its duties
under this Agreement or any other Loan Document by or through agents, employees
or attorneys-in-fact and shall be entitled to advice of counsel concerning all
matters pertaining to such duties.  The Administrative Agent shall not
be responsible for the negligence or misconduct of any agent or attorney-in-fact
that it selects in the absence of gross negligence or willful
misconduct.

     

    14.3    Liability of Administrative
Agent.  None of the Agent-Related Persons shall (i) be liable
for any action taken or omitted to be taken by any of them under or in
connection with this Agreement or any other Loan Document or the transactions
contemplated hereby (except for such Agent-Related Person’s own gross negligence
or willful misconduct), or (ii) be responsible in any manner to any of the
Lenders or their participants for any recital, statement, representation or
warranty made by the Company or any Subsidiary or Affiliate of the Company, or
any officer thereof, contained in this Agreement or in any other Loan Document,
or in any certificate, report, statement or other document referred to or
provided for in, or received by the Administrative Agent under or in connection
with, this Agreement or any other Loan Document, or the validity, effectiveness,
genuineness, enforceability or sufficiency of this Agreement or any other Loan
Document, or for any failure of the Company or any other party to any Loan
Document to perform its obligations hereunder or thereunder.  No
Agent-Related Person shall be under any obligation to any Lender or participant
to ascertain or to inquire as to the observance or performance of any of the
agreements contained in, or conditions of, this Agreement or any other Loan
Document, or to inspect the properties, books or records of the Company or any
of the Company’s Subsidiaries or Affiliates.

    
 

    
      
        
           

        

        
          55

          
            

          

        

        
           

        

      

    

    

    14.4    Reliance by Administrative
Agent.  The Administrative Agent shall be entitled to rely, and
shall be fully protected in relying, upon any writing, communication, signature,
resolution, representation, notice, consent, certificate, affidavit, letter,
telegram, facsimile, telex or telephone message, statement or other document or
conversation 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 (including counsel to the Company or any Subsidiary), independent
accountants and other experts selected by the Administrative
Agent.  The Administrative Agent shall be fully justified in failing
or refusing to take any action under this Agreement or any other Loan Document
unless it shall first receive such advice or concurrence of the Required Lenders
as it deems appropriate and, if it so requests, confirmation from the Lenders of
their obligation to indemnify the Administrative Agent against any and all
liability and expense which may be incurred by it by reason of taking or
continuing to take any such action.  The Administrative Agent shall in
all cases be fully protected in acting, or in refraining from acting, under this
Agreement or any other Loan Document in accordance with a request or consent of
the Required Lenders or all of the Lenders, if required hereunder, and such
request and any action taken or failure to act pursuant thereto shall be binding
upon all of the Lenders and participants.  Where this Agreement
expressly permits or prohibits an action unless the Required Lenders (or, if
required hereunder, all Lenders) otherwise determine, the Administrative Agent
shall, and in all other instances, the Administrative Agent may, but shall not
be required to, initiate a solicitation for the consent or a vote of the
Lenders.

     

    14.5    Notice of
Default.  The Administrative Agent shall not be deemed to have
knowledge or notice of the occurrence of any Event of Default or Unmatured Event
of Default (except with respect to defaults in the payment of principal,
interest and fees required to be paid to the Administrative Agent for the
account of the Lenders) unless the Administrative Agent shall have received
written notice from a Lender or the Company referring to this Agreement,
describing such Event of Default or Unmatured Event of Default and stating that
such notice is a “notice of default”.  The Administrative Agent will
promptly notify the Lenders of its receipt of any such notice.  The
Administrative Agent shall take such action with respect to such Event of
Default or Unmatured Event of Default as may be requested by the Required
Lenders in accordance with Section 12; provided that unless
and until the Administrative Agent has received any such request, the
Administrative Agent may (but shall not be obligated to) take such action, or
refrain from taking such action, with respect to such Event of Default or
Unmatured Event of Default as it shall deem advisable or in the best interest of
the Lenders.

    

    
      
        
           

        

        
          56

          
            

          

        

        
           

        

      

    

    

    14.6    Credit
Decision.  Each Lender acknowledges that none of the
Agent-Related Persons has made any representation or warranty to it, and that no
act by the Administrative Agent hereafter taken, including any consent to and
acceptance of any assignment or review of the affairs of the Company and its
Subsidiaries, shall be deemed to constitute any representation or warranty by
any Agent-Related Person to any Lender.  Each Lender represents to the
Administrative Agent that it has, independently and without reliance upon any
Agent-Related Person and based on such documents and information as it has
deemed appropriate, made its own appraisal of and investigation into the
business, prospects, operations, property, financial and other condition and
creditworthiness of the Company and its Subsidiaries, and all applicable bank
regulatory laws relating to the transactions contemplated hereby, and made its
own decision to enter into this Agreement and to extend credit to the Company
hereunder.  Each Lender also represents that it will, independently
and without reliance upon any Agent-Related Person and based on such documents
and information as it shall deem appropriate at the time, continue to make its
own credit analysis, appraisals and decisions in taking or not taking action
under this Agreement and the other Loan Documents, and to make such
investigations as it deems necessary to inform itself as to the business,
prospects, operations, property, financial and other condition and
creditworthiness of the Company.  Except for notices, reports and
other documents expressly herein required to be furnished to the Lenders by the
Administrative Agent, the Administrative Agent shall not have any duty or
responsibility to provide any Lender with any credit or other information
concerning the business, prospects, operations, property, financial or other
condition or creditworthiness of the Company or its Affiliates which may come
into the possession of any of the Agent-Related Persons.

     

    14.7    Indemnification.  Whether
or not the transactions contemplated hereby are consummated, the Lenders shall
indemnify upon demand the Agent-Related Persons (to the extent not reimbursed by
or on behalf of the Company and without limiting the obligation of the Company
to do so), pro rata based on each Lender’s Percentage, and hold harmless each
Agent-Related Person from and against any and all Indemnified Liabilities; provided that no
Lender shall be liable for any payment to any Agent-Related Person of any
portion of the Indemnified Liabilities to the extent resulting from such
Agent-Related Person’s gross negligence or willful misconduct; and provided, further, that no
action taken in accordance with the directions of the Required Lenders shall be
deemed to constitute gross negligence or willful misconduct for the purposes of
this Section.  Without limitation of the foregoing, each Lender shall
reimburse the Administrative Agent upon demand for its ratable share (according
to its Percentage) of any costs or out-of-pocket expenses (including reasonable
fees of attorneys for the Administrative Agent) incurred by the Administrative
Agent in connection with the preparation, execution, delivery, administration,
modification, amendment or enforcement (whether through negotiations, legal
proceedings or otherwise) of, or legal advice in respect of rights or
responsibilities under, this Agreement, any other Loan Document, or any document
contemplated by or referred to herein, to the extent that any Loan Party is
obligated to, but fails, to reimburse the Administrative Agent therefor (but
without limiting such Loan Party’s obligation to so reimburse the Administrative
Agent, it being understood that the Administrative Agent shall promptly return
to each Lender any amount paid by such Lender pursuant hereto which is
subsequently reimbursed by any Loan Party).  The undertaking in this
Section shall survive termination of the Commitments, repayment of the Loans,
any foreclosure under, or any modification, release or discharge of, any or all
of the Collateral Documents, any termination of this Agreement and the
resignation or replacement of the Administrative Agent.

    

    
      
        
           

        

        
          57

          
            

          

        

        
           

        

      

    

    

    14.8    Administrative Agent in
Individual Capacity.  Bank of America and its Affiliates may
make loans to, issue letters of credit for the account of, accept deposits from,
acquire equity interests in and generally engage in any kind of banking, trust,
financial advisory, underwriting or other business with the Company and its
Subsidiaries and Affiliates as though Bank of America were not the
Administrative Agent, the Issuing Lender or the Swing Line Lender hereunder and
without notice to or consent of the Lenders.  The Lenders acknowledge
that, pursuant to such activities, Bank of America or its Affiliates may receive
information regarding the Company or its Affiliates (including information that
may be subject to confidentiality obligations in favor of the Company or such
Subsidiary) and acknowledge that the Administrative Agent shall be under no
obligation to provide such information to them.  With respect to their
Loans, Bank of America and its Affiliates shall have the same rights and powers
under this Agreement as any other Lender and may exercise the same as though
Bank of America were not the Administrative Agent and an Issuing Lender and the
Swing Line Lender, and the term “Lender” include Bank of America and its
Affiliates, to the extent applicable, in their individual
capacities.

     

    14.9    Successor Administrative
Agent.  The Administrative Agent may, and at the request of the
Required Lenders shall, resign as Administrative Agent upon 30 days’ notice to
the Lenders.  If the Administrative Agent resigns under this
Agreement, the Required Lenders shall, with (so long as no Event of Default
exists) the consent of the Company (which shall not be unreasonably withheld or
delayed), appoint from among the Lenders a successor administrative agent for
the Lenders.  If no successor administrative agent is appointed prior
to the effective date of the resignation of the Administrative Agent, the
Administrative Agent may appoint, after consulting with the Lenders and the
Company, a successor administrative agent from among the
Lenders.  Upon the acceptance of its appointment as successor
administrative agent hereunder, such successor administrative agent shall
succeed to all the rights, powers and duties of the retiring Administrative
Agent and the term “Administrative Agent” shall mean such successor
administrative agent, and the retiring Administrative Agent’s appointment,
powers and duties as Administrative Agent shall be terminated. After any
retiring Administrative Agent’s resignation hereunder as Administrative Agent,
the provisions of this Section 14 and Sections 15.6 and
15.13 shall
inure to its benefit as to any actions taken or omitted to be taken by it while
it was Administrative Agent under this Agreement.  If no successor
administrative agent has accepted appointment as Administrative Agent by the
date which is 30 days following a retiring Administrative Agent’s notice of
resignation, the retiring Administrative Agent’s resignation shall nevertheless
thereupon become effective and the Lenders shall perform all of the duties of
the Administrative Agent hereunder until such time, if any, as the Required
Lenders appoint a successor administrative agent as provided for
above.  Notwithstanding the foregoing, however, Bank of America may
not be removed as the Administrative Agent at the request of the Required
Lenders unless Bank of America shall also simultaneously be replaced as an
“Issuing Lender” and the “Swing Line Lender” hereunder pursuant to documentation
in form and substance reasonably satisfactory to Bank of America.

    

    
      
        
           

        

        
          58

          
            

          

        

        
           

        

      

    

    

    14.10  Withholding
Tax.

     

    (a)      The
Administrative Agent and any Lender, Participant or Assignee that is a “foreign
corporation, partnership or trust” within the meaning of the Code agrees to
deliver to the Company and the Administrative Agent, on or prior to the date
this Agreement was executed (or if any Assignee or Participant was not a Lender
or Participant hereunder immediately prior to such assignment or participation,
on or prior to the effective date of the assignment or participation pursuant to
which such Assignee or Participant became a Lender or Participant hereunder or
if the Administrative Agent is a successor to the original Administrative Agent,
on or prior to the date such Person accepts the appointment as Administrative
Agent), two properly completed and executed original copies of Internal Revenue
Service Forms W-9 and two properly completed and executed copies of either (x)
(i) Internal Revenue Service Form W-8BEN, establishing a complete exemption from
withholding tax under an applicable United States income tax treaty or (y)
Internal Revenue Service Form W-8ECI establishing that payments under this
Agreement are exempt from United States withholding tax because such payments
are connected with a United States trade or business of the Administrative Agent
or such Lender, Participant or Assignee.  The Administrative Agent and
each Lender, Participant or Assignee shall also provide, to the extent it may
lawfully do so, such other such other forms, certificates, documents and other
evidence as may be required under the Code or other laws of the United
States.

     

    Each
Lender, Participant or Assignee or the Administrative Agent, as the case may be,
agrees to promptly notify the Company and the Administrative Agent of any change
in circumstances which would modify or render invalid any claimed exemption or
reduction.  In addition, each Lender, Participant or Assignee or the
Administrative Agent, as the case may be, shall, to the extent it may lawfully
do so, deliver to the Company and the Administrative Agent two further copies of
such Form W-8BEN or W-8ECI or successor applicable forms or other manner of
certification on or before the date that any such prior form expires or becomes
obsolete or after the occurrence of any event requiring a change in the most
recent form previously delivered by such Person to the Company and the
Administrative Agent.

     

    (b)      If
any Lender claims exemption from, or reduction of, withholding tax by providing
IRS Form W-8ECI and such Lender sells, assigns, grants a participation in, or
otherwise transfers all or part of the obligations of the Company to such
Lender, such Lender agrees to notify the Administrative Agent of the percentage
amount in which it is no longer the beneficial owner of such obligations of the
Company hereunder.  To the extent of such percentage amount, the
Administrative Agent will treat such Lender’s IRS Form W-8ECI as no longer
valid.

     

    (c)      If
any Lender claiming exemption from United States withholding tax by filing IRS
Form W-8BEN with the Administrative Agent sells, assigns, grants a participation
in, or otherwise transfers all or part of the obligations of the Company to such
Lender hereunder, such Lender agrees to undertake sole responsibility for
complying with the withholding tax requirements imposed by Sections 1441 and
1442 of the Code.

     

    (d)      If
any Lender, Assignee or Participant is entitled to a reduction in the applicable
withholding tax, the Company or the Administrative Agent may withhold from any
interest payment to such Lender, Assignee or Participant an amount equivalent to
the applicable withholding tax after taking into account such
reduction.  If the forms or other documentation required by clause (a) of this
Section are not delivered to the Company or the Administrative Agent, then the
Company or the Administrative Agent may withhold from any interest payment to
such Lender, Assignee or Participant not providing such forms or other
documentation an amount equivalent to the applicable withholding
tax.

    

    
      
        
           

        

        
          59

          
            

          

        

        
           

        

      

    

    

    (e)      If
the IRS or any other Governmental Authority of the United States or any other
jurisdiction asserts a claim that the Company or the Administrative Agent did
not properly withhold tax from amounts paid to or for the account of any Lender,
Assignee or Participant (because the appropriate form was not delivered or was
not properly executed, or because such Lender, Assignee or Participant failed to
promptly notify the Company or the Administrative Agent of a change in
circumstances which rendered the exemption from, or reduction of, withholding
tax ineffective, or for any other reason) such Lender, Assignee or Participant
shall indemnify the Administrative Agent fully for all amounts paid, directly or
indirectly, by the Company or the Administrative Agent as tax or otherwise,
including penalties and interest, and including any taxes imposed by any
jurisdiction on the amounts payable to the Company or the Administrative Agent,
together with all costs and expenses (including reasonable fees of attorneys for
the Company and the Administrative Agent (including the reasonable allocable
costs of internal legal services and all reasonable disbursements of internal
counsel)).  The obligation of the Lenders, Assignees or Participants
under this subsection shall survive the repayment of the Loans, any termination
of this Agreement and the resignation or replacement of the Administrative Agent
and shall apply to any assignee or successor of the Company.

     

    14.11  Collateral
Matters.  The Lenders irrevocably authorize the Administrative
Agent, at its option and in its discretion, (a) to release any Lien on any
property granted to or held by the Administrative Agent under any Collateral
Document (i) upon termination of the Commitments and payment in full of all
Loans and all other obligations of the Company hereunder and the expiration or
termination of all Letters of Credit; (ii) which is sold or to be sold or
disposed of as part of or in connection with any disposition permitted hereunder
or (iii) subject to Section 15.1, if
approved, authorized or ratified in writing by the Required Lenders; (b) to
subordinate any Lien on any property granted to or held by the Administrative
Agent under any Collateral Document to the holder of any Lien on such property
which is permitted by Section 10.8(c),
(d) or (l) hereof; or (c) to
release any Subsidiary from its obligations under the Subsidiary Guaranty if
such entity ceases to be a Subsidiary as a result of a transaction permitted
hereunder.  Upon request by the Administrative Agent at any time, the
Required Lenders will confirm in writing the Administrative Agent’s authority to
release or subordinate its interest in particular types or items of property, or
to release any Subsidiary from its obligations under the Subsidiary Guaranty,
pursuant to this Section
14.11.

     

    14.12  Other
Agents.  No Lender identified on the facing page of this
Agreement or otherwise herein, or in any amendment hereof or other document
related hereto, as being the Syndication Agent or the Documentation Agent shall
have any right, power, obligation, liability, responsibility or duty under this
Agreement in such capacity.  Each Lender acknowledges that it has not
relied, and will not rely, on any Person so identified in deciding to enter into
this Agreement or in taking or refraining from taking any action hereunder or
pursuant hereto.

    

    
      
        
           

        

        
          60

          
            

          

        

        
           

        

      

    

    

    SECTION
15 GENERAL.

     

    15.1    Waiver;
Amendments.  No delay on the part of the Administrative Agent
or any Lender in the exercise of any right, power or remedy shall operate as a
waiver thereof, nor shall any single or partial exercise by any of them of any
right, power or remedy preclude other or further exercise thereof, or the
exercise of any other right, power or remedy.  No amendment,
modification or waiver of, or consent with respect to, any provision of this
Agreement shall in any event be effective unless the same shall be in writing
and signed and delivered by Lenders having an aggregate Percentage of not less
than the aggregate Percentage expressly designated herein with respect thereto
or, in the absence of such designation as to any provision of this Agreement, by
the Required Lenders and, in the case of an amendment or other modification, the
Company, and then any such amendment, modification, waiver or consent shall be
effective only in the specific instance and for the specific purpose for which
given.  No amendment, modification, waiver or consent shall increase
the Percentage of any Lender, or increase or extend the Commitment of any
Lender, without the consent of such Lender.  No amendment,
modification, waiver or consent shall (i) extend the scheduled maturity date of
any principal of any Loan or extend the date for payment of any interest on any
Loan or any fees payable hereunder, (ii) reduce the principal amount of any
Loan, the rate of interest thereon or any fees payable hereunder, (iii) release
(x) the Parent from its obligations under the Parent Guaranty, (y) any
Subsidiary from its obligations under the Subsidiary Guaranty (other than with
respect to a Subsidiary Guarantor which ceases to be a Subsidiary as a result of
a transaction permitted hereunder) or (z) all or substantially all of the
collateral granted under the Collateral Documents or (iv) reduce the aggregate
Percentage required to effect an amendment, modification, waiver or consent
without, in each case, the consent of each Lender directly affected
thereby.  No provision of Section 14 or other
provision of this Agreement affecting the Administrative Agent in its capacity
as such shall be amended, modified or waived without the consent of the
Administrative Agent.  No provision of this Agreement relating to the
rights or duties of an Issuing Lender in its capacity as such shall be amended,
modified or waived without the consent of such Issuing Lender.  No
provision of this Agreement affecting the Swing Line Lender in its capacity as
such shall be amended, modified or waived without the written consent of the
Swing Line Lender.  Notwithstanding anything to the contrary herein,
no Defaulting Lender shall have any right to approve or disapprove any
amendment, waiver or consent hereunder, except that the Commitment of such
Lender may not be increased or extended without the consent of such
Lender.

     

    15.2    Confirmations.  The
Company and each Lender agree from time to time, upon written request received
by it from the other, to confirm to the other in writing (with a copy of each
such confirmation to the Administrative Agent) the aggregate unpaid principal
amount of the Loans then outstanding to such Lender.

     

    15.3    Notices.  Except
as otherwise provided in Sections 2.2 and
2.4, all
notices hereunder shall be in writing (including facsimile transmission) and
shall be sent to the applicable party at its address shown on Schedule 15.3 or at
such other address as such party may, by written notice received by the other
parties, have designated as its address for such purpose.  Notices
sent by facsimile transmission shall be deemed to have been given when sent and
receipt of such facsimile is confirmed; notices sent by mail shall be deemed to
have been given three Business Days after the date when sent by registered or
certified mail, postage prepaid; and notices sent by hand delivery or overnight
courier service shall be deemed to have been given when received.  For
purposes of Sections
2.2 and 2.4, the
Administrative Agent and the Swing Line Lender shall be entitled to rely on
telephonic instructions from any person that the Administrative Agent or the
Swing Line Lender in good faith believes is a Responsible Officer of the
Company, and the Company shall hold the Administrative Agent, the Swing Line
Lender and each other Lender harmless from any loss, cost or expense resulting
from any such reliance.

    

    
      
        
           

        

        
          61

          
            

          

        

        
           

        

      

    

    

    15.4    Computations.  Where
the character or amount of any asset or liability or item of income or expense
is required to be determined, or any consolidation or other accounting
computation is required to be made, for the purpose of this Agreement, such
determination or calculation shall, to the extent applicable and except as
otherwise specified in this Agreement, be made in accordance with GAAP,
consistently applied; provided that if the
Company notifies the Administrative Agent that the Company wishes to amend any
covenant in Section
10 to eliminate or to take into account the effect of any change in GAAP
on the operation of such covenant (or if the Administrative Agent notifies the
Company that the Required Lenders wish to amend Section 10 for such
purpose), then the Company’s compliance with such covenant shall be determined
on the basis of GAAP in effect immediately before the relevant change in GAAP
became effective, until either such notice is withdrawn or such covenant is
amended in a manner satisfactory to the Company and the Required
Lenders.

     

    15.5    Regulation
U.  Each Lender represents that it in good faith is not
relying, either directly or indirectly, upon any Margin Stock as collateral
security for the extension or maintenance by it of any credit provided for in
this Agreement.

     

    15.6    Costs, Expenses and
Taxes.  The Company agrees to pay on demand all reasonable
out-of-pocket costs and expenses of the Administrative Agent and the Lead
Arranger (including the reasonable fees and charges of counsel for the
Administrative Agent and the Lead Arranger and of local counsel, if any, who may
be retained by said counsel) in connection with the preparation, execution,
delivery and administration of this Agreement, the other Loan Documents and all
other documents provided for herein or delivered or to be delivered hereunder or
in connection herewith (including any amendments, supplements or waivers to any
Loan Documents), and all reasonable out-of-pocket costs and expenses (including
reasonable attorneys’ fees, court costs and other legal expenses and reasonable
allocated costs of internal counsel) incurred by the Administrative Agent and
each Lender during the existence of an Event of Default in connection with the
enforcement of this Agreement, the other Loan Documents or any amendments,
supplements or waivers thereto.  In addition, the Company agrees to
pay, and to save the Administrative Agent, the Lead Arranger and the Lenders
harmless from all liability for, (a) any stamp or other similar taxes (excluding
franchise taxes, branch profits taxes and other taxes imposed on or measured by
net income, net profits or receipts) which may be payable in connection with the
execution and delivery of this Agreement, the Credit Extensions hereunder, the
execution and delivery of any other Loan Document or any other document provided
for herein or delivered or to be delivered hereunder or in connection herewith,
except as otherwise provided in Section 7.6 or 8.1, and (b) any fees
of the Company’s auditors in connection with any reasonable exercise by the
Administrative Agent and the Lenders of their rights pursuant to Section
10.2.  All obligations provided for in this Section 15.6 shall
survive repayment of the Loans and any termination of this
Agreement.

     

    15.7    Subsidiary
References.  The provisions of this Agreement relating to
Subsidiaries shall apply only during such times as the Company has one or more
Subsidiaries.

     

    15.8    Captions.  Section
captions used in this Agreement are for convenience only and shall not
affect the construction of this Agreement.

     

    
      15.9    Assignments;
Participations.

    

    

    
      
        
           

        

        
          62

          
            

          

        

        
           

        

      

    

     

    15.9.1 Assignments.  Any
Lender may, with the prior written consent of the Administrative Agent and, so
long as no Event of Default has occurred and is continuing, the Company (which
consents shall not be unreasonably delayed or withheld), at any time assign and
delegate to one or more Eligible Assignees (any Person to whom such an
assignment and delegation is to be made being herein called an “Assignee”), all or
any fraction of such Lender’s Loans and Commitment in a minimum aggregate amount
(in the case of an assignment to an Assignee other than a Lender hereunder)
equal to the lesser of (i) the amount of the assigning Lender’s remaining Loans
and, without duplication, Commitments and (ii) $5,000,000 (or such lesser amount
as the Company and the Administrative Agent may agree in their discretion);
provided that
(a) no assignment and delegation may be made to any Person if, at the time of
such assignment and delegation, the Company would be obligated to pay any
greater amount under Section 7.6 or Section 8 to the
Assignee than the Company is then obligated to pay to the assigning Lender under
such Sections (and if any assignment is made in violation of the foregoing, the
Company will not be required to pay the incremental amounts), (b) any assignment
of all or a portion of a Lender’s Commitment to a Person other than a Lender
shall be subject to the prior written consent of the Issuing Lenders and the
Swing Line Lender (which consents shall not be unreasonably withheld or
delayed), (c) no consent of the Company or the Administrative Agent shall be
required in connection with any assignment from a Lender to an Affiliate of such
Lender or to another Lender; (d) no consent of the Administrative Agent shall be
required in connection with the assignment of all or a portion of a Lender’s
Revolving Loans and Commitment to another Lender and (e) the Company and the
Administrative Agent shall be entitled to continue to deal solely and directly
with such Lender in connection with the interests so assigned and delegated to
an Assignee until the date when all of the following conditions shall have been
met:

     

    (w)  the
Assignee shall have complied with the requirements set forth in Section 14.10, if
applicable,

     

    (x)  five
Business Days (or such lesser period of time as the Administrative Agent and the
assigning Lender shall agree) shall have passed after written notice of such
assignment and delegation, together with payment instructions, addresses and
related information with respect to such Assignee, shall have been given to the
Company and the Administrative Agent by such assigning Lender and the
Assignee,

     

    (y)  the
assigning Lender and the Assignee shall have executed and delivered to the
Company and the Administrative Agent an assignment agreement substantially in
the form of Exhibit
E (an “Assignment
Agreement”), together with any documents required to be delivered
thereunder, which Assignment Agreement shall have been accepted by the
Administrative Agent and, if required, the Company, and

     

    (z)  unless
the Assignee is an Affiliate of the assigning Lender, the assigning Lender or
the Assignee shall have paid the Administrative Agent a processing fee of
$3,500.

     

    From and
after the date on which the conditions described above have been met, (x) such
Assignee shall be deemed automatically to have become a party hereto as a Lender
with respect to the interest assigned and, to the extent that rights and
obligations hereunder have been assigned and delegated to such Assignee pursuant
to such Assignment Agreement, shall have the rights and obligations of a Lender
hereunder (in addition, if applicable, to rights and obligations previously held
by such Lender), and (y) the assigning Lender, to the extent that rights and
obligations hereunder have been assigned and delegated by it pursuant to such
Assignment Agreement, shall be released from its obligations hereunder (and, in
the case of an assignment of all of its Commitments and Loans, shall cease to be
a Lender (but shall continue to have all rights and obligations under provisions
hereof which by their terms survive the termination hereof)).  Any
attempted assignment and delegation not made in accordance with this Section 15.9.1 shall
be null and void.

    

    
      
        
           

        

        
          63

          
            

          

        

        
           

        

      

    

    

    The
Administrative Agent, acting solely for this purpose as an agent of the Company,
shall maintain at the Administrative Agent’s office specified for payments
pursuant to Section
7.1 a copy of each Assignment Agreement delivered to it and a register
for the recordation of the names and addresses of the Lenders, and the
Commitments of, and principal amount of the Loans and reimbursement obligations
owing to, each Lender pursuant to the terms hereof from time to time (the “Register”).  The
entries in the Register shall be conclusive, and the Company, the Administrative
Agent and the Lenders may treat each Person whose name is recorded in the
Register pursuant to the terms hereof as a Lender hereunder for all purposes of
this Agreement, notwithstanding notice to the contrary.  The Register
shall be available for inspection by the Company and any Lender, at any
reasonable time and from time to time upon reasonable prior notice.

     

    Notwithstanding
the foregoing provisions of this Section 15.9.1 or any
other provision of this Agreement, any Lender may at any time assign all or any
portion of its Loans to a Federal Reserve Bank; provided that no such
assignment shall (i) release any Lender from any of its obligations hereunder or
(ii) substitute any such Federal Reserve Bank for such Lender as a party hereto;
and provided,
further, that
no such Federal Reserve Bank shall be entitled to exercise any right (or shall
have any obligation) of a Lender under the Loan Documents unless it becomes a
Lender in compliance with the other provisions of this Section
15.9.1.

     

    15.9.2 Participations.  Any
Lender may at any time sell to one or more commercial banks or other Persons
participating interests in any Loan owing to such Lender, the Commitment of such
Lender, the direct or participation interest of such Lender in any Letter of
Credit or Swing Line Loan or any other interest of such Lender hereunder (any
Person purchasing any such participating interest being herein called a “Participant”); provided that any
Lender selling any such participating interest shall give notice thereof to the
Company.  In the event of a sale by a Lender of a participating
interest to a Participant, (x) such Lender shall remain responsible for all of
its obligations as a Lender hereunder for all purposes of this Agreement, (y)
the Company and the Administrative Agent shall continue to deal solely and
directly with such Lender in connection with such Lender’s rights and
obligations hereunder and (z) all amounts payable by the Company shall be
determined as if such Lender had not sold such participation and shall be paid
directly to such Lender.  No Participant shall have any direct or
indirect voting rights hereunder except with respect to any of the events
described in the fourth sentence of Section 15.1.  Each
Lender agrees to incorporate the requirements of the preceding sentence into
each participation agreement which such Lender enters into with any
Participant.  The Company agrees that if amounts outstanding under
this Agreement are due and payable (as a result of acceleration or otherwise),
each Participant shall be deemed to have the right of setoff in respect of its
participating interest in amounts owing under this Agreement and with respect to
any Letter of Credit to the same extent as if the amount of its participating
interest were owing directly to it as a Lender under this Agreement; provided that such
right of setoff shall be subject to the obligation of each Participant to share
with the Lenders, and the Lenders agree to share with each Participant, as
provided in Section
7.5.  The Company also agrees that each Participant shall be
entitled to the benefits of Section 7.6 and Section 8 as if it
were a Lender (provided that no Participant shall receive any greater amount
pursuant to Section
7.6 or Section
8 than would have been paid to the participating Lender if no
participation had been sold).

    

    
      
        
           

        

        
          64

          
            

          

        

        
           

        

      

    

    

    15.10  Governing
Law.  THIS AGREEMENT SHALL BE GOVERNED BY THE LAWS OF THE STATE
OF ILLINOIS WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW (EXCEPT 735
ILLINOIS COMPILED STATUTE §105/5-5).  Whenever possible each provision
of this Agreement shall be interpreted in such manner as to be effective and
valid under applicable law, but if any provision of this Agreement shall be
prohibited by or invalid under applicable law, such provision shall be
ineffective to the extent of such prohibition or invalidity, without
invalidating the remainder of such provision or the remaining provisions of this
Agreement.  All obligations of the Company and rights of the
Administrative Agent and the Lenders expressed herein or in any other Loan
Document shall be in addition to and not in limitation of those provided by
applicable law.

     

    15.11  Counterparts.  This
Agreement may be executed in any number of counterparts and by the different
parties hereto on separate counterparts and each such counterpart shall be
deemed to be an original, but all such counterparts shall together constitute
but one and the same Agreement.

     

    15.12  Successors and
Assigns.  This Agreement shall be binding upon the Company, the
Lenders and the Administrative Agent and their respective successors and
assigns, and shall inure to the benefit of the Company, the Lenders and the
Administrative Agent and the successors and assigns of the Lenders and the
Administrative Agent.

     

    15.13  Indemnification by the
Company.

     

    (a)      In
consideration of the execution and delivery of this Agreement by the
Administrative Agent and the Lenders and the agreement to extend the Commitments
provided hereunder, the Company hereby agrees to indemnify, exonerate and hold
the Administrative Agent, the Lead Arranger, each Lender and each of the
officers, directors, employees, attorneys, Affiliates and agents of the
Administrative Agent and each Lender (each a “Lender Party”) free
and harmless from and against any and all Indemnified Liabilities, except to the
extent that such Indemnified Liabilities arise on account of any such Lender
Party’s gross negligence or willful misconduct.  If and to the extent
that the foregoing undertaking may be unenforceable for any reason, the Company
hereby agrees to make the maximum contribution to the payment and satisfaction
of each of the Indemnified Liabilities which is permissible under applicable
law.

     

    (b)      All
obligations provided for in this Section 15.13 shall
survive repayment of the Loans,  any foreclosure under, or any
modification, release or discharge of any or all of the Collateral Documents,
the sale, transfer or conveyance of all or part of the past and present
properties and facilities or any circumstances which might otherwise constitute
a legal or equitable discharge, in whole or in part, of the Company under this
Agreement and any termination of this Agreement.

    

    
      
        
           

        

        
          65

          
            

          

        

        
           

        

      

    

    

    15.14  Forum Selection and Consent
to Jurisdiction.  THE BORROWER AND EACH
OTHER LOAN PARTY IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS
PROPERTY, TO THE NONEXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF
ILLINOIS OR THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF
ILLINOIS; PROVIDED THAT ANY SUIT SEEKING ENFORCEMENT
AGAINST ANY COLLATERAL OR OTHER PROPERTY MAY BE BROUGHT, AT
THE  ADMINISTRATIVE AGENT’S OPTION, IN THE COURTS OF ANY JURISDICTION
WHERE SUCH COLLATERAL OR OTHER PROPERTY MAY BE FOUND.  EACH OF THE
PARENT AND THE COMPANY HEREBY EXPRESSLY AND IRREVOCABLY (A) SUBMITS TO THE
JURISDICTION OF THE COURTS OF THE STATE OF ILLINOIS AND OF THE UNITED STATES
DISTRICT COURT FOR THE NORTHERN DISTRICT OF ILLINOIS FOR THE PURPOSE OF ANY
LITIGATION ABOVE; (B) CONSENTS TO THE SERVICE OF PROCESS BY REGISTERED MAIL,
POSTAGE PREPAID TO ITS ADDRESS AS DETERMINED PURSUANT TO SECTION
15.3, BY PERSONAL
SERVICE WITHIN OR WITHOUT THE STATE OF ILLINOIS; AND (C) WAIVES ANY OBJECTION
THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUCH LITIGATION
BROUGHT IN ANY SUCH COURT REFERRED TO ABOVE AND ANY CLAIM THAT ANY SUCH
LITIGATION HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.

     

    15.15  Waiver of Jury
Trial.  EACH
OF THE COMPANY, THE PARENT, THE ADMINISTRATIVE AGENT AND EACH LENDER HEREBY
WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING TO ENFORCE OR
DEFEND ANY RIGHTS UNDER THIS AGREEMENT, ANY OTHER LOAN DOCUMENT AND ANY
AMENDMENT, INSTRUMENT, DOCUMENT OR AGREEMENT DELIVERED OR WHICH MAY IN THE
FUTURE BE DELIVERED IN CONNECTION HEREWITH OR THEREWITH OR ARISING FROM ANY
BANKING RELATIONSHIP EXISTING IN CONNECTION WITH ANY OF THE FOREGOING, AND
AGREES THAT ANY SUCH ACTION OR PROCEEDING SHALL BE TRIED BEFORE A COURT AND NOT
BEFORE A JURY.  EACH LOAN PARTY ACKNOWLEDGES AND AGREES THAT IT HAS
RECEIVED FULL AND SUFFICIENT CONSIDERATION FOR THIS PROVISION (AND EACH OTHER
PROVISION OF EACH OTHER LOAN DOCUMENT TO WHICH IT A PARTY) AND THAT THIS
PROVISION IS A MATERIAL INDUCEMENT FOR THE ADMINISTRATIVE AGENT AND THE LENDERS
ENTERING INTO THIS AGREEMENT AND EACH SUCH OTHER LOAN
DOCUMENTS.

     

    15.16  USA
PATRIOT ACT NOTICE.  Each Lender and
the Administrative Agent (for itself and not on behalf of any Lender) hereby
notifies the Parent and the Company that pursuant to the requirements of the USA
Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001))
(the “Act”), it is required to obtain, verify and record information that
identifies the Parent and the Company, which information includes the name and
address of the Parent and the Company and other information that will allow such
Lender or the Administrative Agent, as applicable, to identify the Parent and
the Company in accordance with the Act.

     

    
      
        
        

      

      
        66

        
          

        

      

      
        
        

      

    

     

    IN
WITNESS WHEREOF, the parties hereto have executed and delivered this Agreement
as of the day and year first above written.

     

    
      
        	 
      	
                MIDDLEBY
      MARSHALL INC.

              
	 
      	 
      	 
      
	 
      	
                By

              	
                /s/ Timothy J.
Fitzgerald

              
	 
      	
                Title

              	
                Chief Financial Officer

              
	 
      	 
      	 
      
	 
      	
                THE
      MIDDLEBY CORPORATION

              
	 
      	 
      	 
      
	 
      	
                By

              	
                /s/ Timothy J.
Fitzgerald

              
	 
      	
                Title

              	
                Chief Financial
  Officer

              

      

    

    

    
      
        
           

        

        
          S-1

          
            

          

        

        
           

        

      

    

    

    
      
        	 
      	
                BANK
      OF AMERICA, N.A., as Administrative

                Agent

              
	 
      	 
      	 
      
	 
      	
                By

              	
                /s/ Suzanne Paul

              
	 
      	
                Title

              	
                Vice
President

              

      

    

    

    
      
        
           

        

        
          S-2

          
            

          

        

        
           

        

      

    

    

    
      
        	 	
                BANK
      OF AMERICA, N.A., as an Issuing Lender,

                as
      Swing Line Lender and as a Lender

              
	 	 
      	 
      
	 	
                By

              	
                /s/ Craig W. McGuire

              
	 	
                Title

              	
                Senior Vice
  President

              

      

    

    
 

    
      
        
           

        

        
          S-3

          
            

          

        

        
           

        

      

    

     

    
      
        	 
      	
                WELLS
      FARGO BANK, N.A., as Syndication

                Agent
      and as a Lender

              
	 
      	 
      	 
      
	 
      	
                By

              	
                /s/ Edmund Lester

              
	 
      	
                Title

              	
                Senior Vice
  President

              

      

    

    

    
      
        
           

        

        
          S-4

          
            

          

        

        
           

        

      

    

    

    
      
        	 
      	
                ROYAL
      BANK OF CANADA, as Co-

                Documentation
      Agent and as a Lender

              
	 
      	 
      	 
      
	 
      	
                By

              	
                /s/ Meredith Majesty

              
	 
      	
                Title

              	
                Authorized
  Signatory

              

      

    

    
 

    
      
        
           

        

        
          S-5

          
            

          

        

        
           

        

      

    

    

    
      
        	 
      	
                RBS
      CITIZENS, N.A., as Co-Documentation Agent

                and
      as a Lender

              
	 
      	 
      	 
      
	 
      	
                By

              	
                /s/ M. James Barry, III

              
	 
      	
                Title

              	
                Vice
President

              

      

    

    

    
      
        
           

        

        
          S-6

          
            

          

        

        
           

        

      

    

     

    
      
        	 
      	
                FIFTH
      THIRD BANK, as a Co-Agent and as a

                Lender

              
	 
      	 
      	 
      
	 
      	
                By

              	
                /s/ Neil G. Mesch

              
	 
      	
                Title

              	
                Vice
President

              

      

    

    
 

    
      
        
           

        

        
          S-7

          
            

          

        

        
           

        

      

    

    

    
      
        	 
      	
                NATIONAL
      CITY BANK, as Co-Agent and as a

                Lender

              
	 
      	 
      	 
      
	 
      	
                By

              	
                /s/ Lynn Rosinsky

              
	 
      	
                Title

              	
                Senior Vice President, Regional
Manager

              

      

    

    

    
      
        
           

        

        
          S-8

          
            

          

        

        
           

        

      

    

     

    
      
        	 
      	
                COÖPERATIEVE
      CENTRALE RAIFFEISEN-

                BOERENLEENBANK
      B.A.,”RABOBANK

                NEDERLAND”,
      NEW YORK BRANCH,

              
	 
      	
                as
      a Lender

              
	 
      	 
      	 
      
	 
      	
                By

              	
                /s/ Jeff Bliss

              
	 
      	
                Title

              	
                Vice President

              
	 
      	 
      	 
      
	 
      	
                By

              	
                /s/ Rebecca Morrow

              
	 
      	
                Title

              	
                Executive
  Director

              

      

    

    

    
      
        
           

        

        
          S-9

          
            

          

        

        
           

        

      

    

    

    
      
        	 
      	
                THE
      PRIVATE BANK AND TRUST COMPANY,

                as
      a Lender

              
	 
      	 
      	 
      
	 
      	
                By

              	
                /s/ Marcus Montanye

              
	 
      	
                Title

              	
                Managing Director & Senior Vice
      President

              

      

    

    
 

    
      
        
           

        

        
          S-10

          
            

          

        

        
           

        

      

    

     

    
      
        	 
      	
                ASSOCIATED
      BANK, National Association, as a

                Lender

              
	 
      	 
      	 
      
	 
      	
                By

              	
                /s/ Brett Rausch

              
	 
      	
                Title

              	
                Vice
President

              

      

    

    

    
      
        
           

        

        
          S-11

          
            

          

        

        
           

        

      

    

    

    
      
        	 
      	
                HSBC
      BANK USA, NA, as a Lender

              
	 
      	 
      	 
      
	 
      	
                By

              	
                /s/ Andrew Bicker

              
	 
      	
                Title

              	
                Vice
President

              

      

    

    
 

    
      
        
           

        

        
          S-12

          
            

          

        

        
           

        

      

    

     

    
      
        	 
      	
                MB
      FINANCIAL BANK, N.A., as a Lender

              
	 
      	 
      	 
      
	 
      	
                By

              	
                /s/ Henry Wessel

              
	 
      	
                Title

              	
                Vice
President

              

      

    

    

    
      
        
           

        

        
          S-13

          
            

          

        

        
           

        

      

    

    

    
      
        	 
      	
                THE
      NORTHERN TRUST COMPANY, as a

                Lender

              
	 
      	 
      	 
      
	 
      	
                By

              	
                /s/ Laurie Kieta

              
	 
      	
                Title

              	
                Vice
President

              

      

    

     

    
      
        
           

        

        
          S-14

          
            

          

        

        
           

        

      

    

     

    
      
        	 
      	
                COMERICA
      BANK, as a Lender

              
	 
      	 
      	 
      
	 
      	
                By

              	
                /s/ Tamara J. Miller

              
	 
      	
                Title

              	
                Vice
President

              

      

    

     

    
      
        
           

        

        
          S-15

          
            

          

        

        
           

        

      

    

     

    SCHEDULE
1.1

     

    PRICING
SCHEDULE

     

    The
Commitment Fee Rate, Eurodollar Margin and LC Fee Rate respectively, shall be
determined in accordance with the table below and the other provisions of this
Schedule
1.1.

     

    
      
        
          
            
              
                	 
      	 	
                        Commitment

                        Fee Rate

                      	 	
                        Eurodollar Margin/

                        LC Fee Rate

                      
	 
      	 	 
      	 	 
      
	
                        Level
      I

                      	 	
                        30.0
      bps

                      	 	
                        150.0
      bps

                      
	 
      	 	 
      	 	 
      
	
                        Level
      II

                      	 	
                        27.5
      bps

                      	 	
                        137.5
      bps

                      
	 
      	 	 
      	 	 
      
	
                        Level
      III

                      	 	
                        25.0
      bps

                      	 	
                        125.0
      bps

                      
	 
      	 	 
      	 	 
      
	
                        Level
      IV

                      	 	
                        20.0
      bps

                      	 	
                        100.0
      bps

                      
	 
      	 	 
      	 	 
      
	
                        Level
      V

                      	 	
                        17.5
      bps

                      	 	
                        87.5
      bps

                      
	 
      	 	 
      	 	 
      
	
                        Level
      VI

                      	 	
                        15.0
      bps

                      	 	
                        75.0
      bps

                      

              

            

          

        

      

    

    

    Level I applies when
the Leverage Ratio is greater than or equal to 3.00 to 1.

     

    Level II applies when
the Leverage Ratio is greater than or equal to 2.50 to 1 but less than 3.0 to
1.

     

    Level III applies
when the Leverage Ratio is greater than or equal to 2.00 to 1 but less than 2.50
to 1.

     

    Level IV applies when
the Leverage Ratio is greater than or equal to 1.50 to 1 but less than 2.00 to
1.

     

    Level V applies when
the Leverage Ratio is greater than or equal to 1.00 to 1 but less than 1.50 to
1

     

    Level VI applies when
the Leverage Ratio is less than 1.00 to 1.

     

    Initially,
the applicable Level shall be Level [III].  Beginning with the Fiscal
Quarter ending
[                  ],
the applicable Level shall be adjusted, to the extent applicable, 45 days (or,
in the case of the last Fiscal Quarter of any Fiscal Year, 90 days) after the
end of each Fiscal Quarter based on the Leverage Ratio as of the last day of
such Fiscal Quarter; provided that if the
Company fails to deliver the financial statements required by Section 10.1.1 or
10.1.2, as
applicable, and the related certificate required by Section 10.1.3 by the
45th day (or, if applicable, the 90th day) after any Fiscal Quarter, Level I
shall apply until such financial statements are delivered.]

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    SCHEDULE
2.1

     

    LENDERS
AND INITIAL COMMITMENTS AND PERCENTAGES

    

    
      
        
          	
                  Lender

                	 	
                  Commitment

                	 	 	
                  Percentage

                	 
	
                  Bank
      of America, N.A.

                	 	$	70,000,000	 	 	 	15.555555555	%
	
                  Wells
      Fargo Bank, N.A.

                	 	$	57,500,000	 	 	 	12.777777777	%
	
                  Royal
      Bank of Canada

                	 	$	50,000,000	 	 	 	11.111111111	%
	
                  RBS
      Citizens, N.A.

                	 	$	50,000,000	 	 	 	11.111111111	%
	
                  Fifth
      Third Bank

                	 	$	35,000,000	 	 	 	7.777777778	%
	
                  National
      City Bank

                	 	$	30,000,000	 	 	 	6.666666667	%
	
                  The
      Northern Trust Company

                	 	$	25,000,000	 	 	 	5.555555556	%
	
                  Associated
      Bank National Association

                	 	$	25,000,000	 	 	 	5.555555556	%
	
                  HSBC
      Bank USA, N.A.

                	 	$	25,000,000	 	 	 	5.555555556	%
	
                  The
      Private Bank and Trust Company

                	 	$	25,000,000	 	 	 	5.555555556	%
	
                  Rabobank
      Nederland

                	 	$	25,000,000	 	 	 	5.555555556	%
	
                  Comerica
      Bank

                	 	$	20,000,000	 	 	 	4.444444444	%
	
                  MB
      Financial Bank, N.A.

                	 	$	12,500,000	 	 	 	2.777777777	%
	
                  TOTALS

                	 	$	450,000,000	 	 	 	100.000000000	%

        

      

    

    
 

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    SCHEDULE
9.6

    

    LITIGATION
AND CONTINGENT LIABILITIES

    

    NONE.

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    SCHEDULE
9.7

    

    OWNERSHIP
OF PROPERTIES; LIENS

    

    Two parties, Filmtime Entertainment
GmbH and BSP ABE Household Appliances, have filed oppositions to the attempt to
register the mark PITCO in the European Community (application No.
1,557,941).  The European Community Trademark Office is currently
examining these files to determine whether either opposition will be
admissible.

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    SCHEDULE
9.8

    

    SUBSIDIARIES

    

    Subsidiaries of The Middleby
Corporation

    

    
      
        
          
            
              	
                    	 	
                      State/Country of 

                    
	
                      Name of Subsidiary

                    	 	
                      Incorporation/Organization

                    
	 
      	 	 
      
	
                      Alkar
      Holdings, Inc.

                    	 	
                      Wisconsin

                    
	 
      	 	 
      
	
                      Alkar-RapidPak,
      Inc.

                    	 	
                      Wisconsin

                    
	 
      	 	 
      
	
                      Alkar-RapidPak
      Brasil, LLC

                    	 	
                      Wisconsin

                    
	 
      	 	 
      
	
                      Blodgett
      Holdings, Inc.

                    	 	
                      Delaware

                    
	 
      	 	 
      
	
                      Carter-Hoffmann
      LLC

                    	 	
                      Delaware

                    
	 
      	 	 
      
	
                      Cloverleaf
      Properties, Inc.

                    	 	
                      Vermont

                    
	 
      	 	 
      
	
                      Fab-Asia
      Inc.

                    	 	
                      Philippines

                    
	 
      	 	 
      
	
                      Frialator
      International Limited (UK)

                    	 	
                      United
      Kingdom

                    
	 
      	 	 
      
	
                      G.S.
      Blodgett Corporation

                    	 	
                      Vermont

                    
	 
      	 	 
      
	
                      G.S.
      Blodgett International, LTD

                    	 	
                      Barbados

                    
	 
      	 	 
      
	
                      Holman
      Cooking Equipment Inc.

                    	 	
                      Delaware

                    
	 
      	 	 
      
	
                      Houno
      A/S

                    	 	
                      Denmark

                    
	 
      	 	 
      
	
                      Houno
      Holdings LLC

                    	 	
                      Delaware

                    
	 
      	 	 
      
	
                      Houno
      Svenska AB

                    	 	
                      Sweden

                    
	 
      	 	 
      
	
                      Jade
      Range LLC

                    	 	
                      Delaware

                    
	 
      	 	 
      
	
                      MagiKitch'n
      Inc.

                    	 	
                      Pennsylvania

                    
	 
      	 	 
      
	
                      Meat
      Processing Equipment LLC

                    	 	
                      Delaware

                    
	 
      	 	 
      
	
                      Middleby
      Asia Ltd

                    	 	
                      Hong
      Kong

                    

            

          

        

      

    

    

    
      
        
          	
                  Middleby
      China Corporation

                	 	
                  Peoples
      Republic of China

                
	 
      	 	 
      
	
                  Middleby
      Cooking System

                	 	 
      
	
                  Manufacturing
      (Shanghai) Corporation

                	 	
                  Peoples
      Republic of China

                
	 
      	 	 
      
	
                  Middleby
      Espana SL

                	 	
                  Spain

                
	 
      	 	 
      
	
                  Middleby
      Marshall Holding LLC

                	 	
                  Delaware

                
	 
      	 	 
      
	
                  Middleby
      Marshall Inc.

                	 	
                  Delaware

                
	 
      	 	 
      
	
                  Middleby
      Mexico SA de CV

                	 	
                  Mexico

                
	 
      	 	 
      
	
                  Middleby
      Philippines Corporation

                	 	
                  Philippines

                
	 
      	 	 
      
	
                  Middleby
      Worldwide, Inc.

                	 	
                  Florida

                
	 
      	 	 
      
	
                  Middleby
      Worldwide Korea Co., LTD

                	 	
                  Korea

                
	 
      	 	 
      
	
                  Middleby
      Worldwide Philippines

                	 	
                  Philippines

                
	 
      	 	 
      
	
                  Middleby
      Worldwide (Taiwan) Co., LTD

                	 	
                  Republic
      of China

                
	 
      	 	 
      
	
                  New
      Star International Holdings, Inc.

                	 	
                  Delaware

                
	 
      	 	 
      
	
                  Pitco
      Frialator, Inc.

                	 	
                  New
      Hampshire

                
	 
      	 	 
      
	
                  Star
      International Holdings, Inc.

                	 	
                  Delaware

                
	 
      	 	 
      
	
                  Star
      Manufacturing International Inc.

                	 	
                  Delaware

                
	 
      	 	 
      
	
                  Wells
      Bloomfield LLC

                	 	
                  Delaware

                

        

      

    

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    SCHEDULE
9.14

    

    ENVIRONMENTAL
MATTERS

    

    In approximately 1990, groundwater
beneath G.S. Blodgett Corporation’s Pitco-Frialator facility in Concord (Bow),
NH was found to be contaminated by VOCs as part of the state’s investigation
into an extended area of groundwater contamination.  Due to the
presence of a water supply well on G.S. Blodgett Corporation’s facility, the
facility was required to monitor water quality on a quarterly, and more
recently, on an annual basis.  Since discovery of the contamination,
the water supply well has been used only for sanitary purposes, and a separate
source of drinking water is supplied.  During sampling performed
during 2001, a new contaminant, the gasoline additive MTBE, was also detected in
the facility’s supply well.  G.S. Blodgett Corporation was required to
post notices within the facility regarding the detection of MTBE and quarterly
sampling of the supply well for MTBE is required at this time.

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    SCHEDULE
10.7(h)

    

    EXISTING
DEBT

     

    
      	
              1.

            	
              Operating
      credit facility between Nordea Bank, Denmark and Houno A/S in the amount
      of DKK DKK8,750,000 dated October 11, 2006.  Credit facility to
      be increased to DKK13,250,000 to consolidate existing mortgage obligation
      of DKK4,500,000 currently with NyKredit guaranteed by the
      Parent.

            

    

     

    
      	
              2.

            	
              Mortgage
      obligation in the amount of DKK4,500,000 with NyKredit, to be consolidated
      with operating credit facility with Nordea Bank, Denmark, described in No.
      1 above.

            

    

     

    
      	
              3.

            	
              Loan
      between Nordea Bank Denmark A/S and Houno A/S in the amount of
      DKK12,350,000 dated October 11, 2006 guaranteed by the Parent plus OTC
      line DKK3,000,000 with Nordea Bank Finland OY guaranteed by the Parent
      plus OTC line DKK3,000,000 with Nordea Bank Finland OY guaranteed by the
      Parent.

            

    

     

    
      	
              4.

            	
              Lease
      Contract between Nordania Leasing and Houno A/S in the amount of
      DKK4,156,757.63 dated October 26, 2000 guaranteed by the
      Parent.

            

    

    
 

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

     

    SCHEDULE
10.8

    

    EXISTING
LIENS

     

    
      	
              1.

            	
              Lien
      in connection with the operating credit facility between Nordea Bank,
      Denmark and Houno A/S in the amount of DKK DKK8,750,000 dated October 11,
      2006.  Credit facility to be increased to DKK13,250,000 to
      consolidate existing mortgage obligation of DKK4,500,000 currently with
      NyKredit guaranteed by the Parent.

            

    

     

    
      	
              5.

            	
              Mortgage
      obligation in the amount of DKK4,500,000 with NyKredit, to be consolidated
      with operating credit facility with Nordea Bank, Denmark, described in No.
      1 above.

            

    

     

    
      	
              6.

            	
              Lien
      in connection with the loan between Nordea Bank Denmark A/S and Houno A/S
      in the amount of DKK12,350,000 dated October 11, 2006 guaranteed by the
      Parent plus OTC line DKK3,000,000 with Nordea Bank Finland OY guaranteed
      by the Parent.

            

    

     

    
      	
              7.

            	
              Lien
      in connection with the Lease Contract between Nordania Leasing and Houno
      A/S in the amount of DKK4,156,757.63 dated October 26, 2000 guaranteed by
      the Parent.

            

    

     

    
      	
              8.

            	
              See
      attached lien schedule.

            

    

    
 

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    Schedule
10.8

    

    EXISTING
LIENS

    

    
      	
               

              Name of Debtor

            	 
      	
              Secured Party

            	 
      	
              Jurisdiction/Office

            	 
      	
              File Number/

              Date Filed

            	 
      	
              Type of UCC

            	 
      	
              Description of Collateral

            	 
      	
              Disposition

            
	
              Alkar
      Holdings,

              Inc.

            	 
      	
              First
      Business Leasing, LLC

            	 
      	
              Wisconsin
      Department of Financial Institutions

            	 
      	
              040003616622

              3-4-04

            	 
      	
              UCC-1

            	 
      	
              True
      Equipment Lease No 1006

              Equipment:  One
      (1) Mazak Super Turbo-510 Mark II with Laser.

            	 
      	
              Additional
      Debtor:  Sani-Matic Systems Holdings, Inc.

            
	 
      	 
      	
              First
      Business Leasing, LLC

            	 
      	
              Wisconsin
      Department of Financial Institutions

            	 
      	
              040004159726

              3-12-04

            	 
      	
              UCC-3

              Amendment

            	 
      	 
      	 
      	
              Secured
      Party amended to First Business Bank

            
	
              Alkar
      Holdings, Inc.

            	 
      	
              Bank
      of America, N.A., as Administrative Agent

            	 
      	
              Wisconsin
      Department of Financial Institutions

            	 
      	
              050017530218

              12-8-05

            	 
      	
              UCC-1

            	 
      	
              All
      of the Debtor's property and assets whether now existing or hereafter
      acquired.

            	 
      	 
      
	
              Alkar-RapidPak
      Brasil, LLC

            	 
      	
              Bank
      of America, N.A., as Administrative Agent

            	 
      	
              Wisconsin
      Department of Financial Institutions

            	 
      	
              050017529630

              12-8-05

            	 
      	
              UCC-1

            	 
      	
              All
      of the Debtor's property and assets whether now existing or hereafter
      acquired.

            	 
      	 
      
	
              Alkar-RapidPak,
      Inc.

            	 
      	
              Cupertino
      National Bank c/o Greater Bay Capital

            	 
      	
              Wisconsin
      Department of Financial Institutions

            	 
      	
              030016617526

              10-8-03

            	 
      	
              UCC-1

            	 
      	
              The
      equipment described below and all equipment parts, accessories,
      substitutions, additions, accessions and replacements thereto and thereof,
      now or hereafter installed in, affixed to, or used in conjunction
      therewith and the proceeds thereof, together with all installment
      payments, insurance proceeds, other proceeds and payments due and to
      become due arising from or relating to said equipment, 1 Daewoo Forklift
      G32P s/n D2-03127 1 Daewoo Forklift G25S s/n 99-01660.

            	 
      	 
      
	
              Alkar-RapidPak,
      Inc.

            	 
      	
              Bank
      of America, N.A., as Administrative Agent

            	 
      	
              Wisconsin
      Department of Financial Institutions

            	 
      	
              050017529933

              12-8-05

            	 
      	
              UCC-1

            	 
      	
              All
      of the Debtor's property and assets whether now existing or hereafter
      acquired.

            	 
      	 
      
	
              Alkar-RapidPak,
      Inc.

            	 
      	
              Bank
      of America, N.A., as Administrative Agent

            	 
      	
              Wisconsin
      Department of Financial Institutions

            	 
      	
              050017529630

              12-8-05

            	 
      	
              UCC-1

            	 
      	
              All
      of the Debtor's property and assets whether now existing or hereafter
      acquired.

            	 
      	 
      
	
              Alkar-RapidPak,
      Inc.

            	 
      	
              Machine
      Tool Technologies, Inc.

            	 
      	
              Wisconsin
      Department of Financial Institutions

            	 
      	
              060008371221

              6-1-06

            	 
      	
              UCC-1

            	 
      	
              One
      Piranha P50 Iron Worker exactly as equipped and described in Alkar Order
      #223226 and Machine Tool Technologies, Inc. Order #13666

            	 
      	 
      
	
              Alkar-RapidPak,
      Inc.

            	 
      	
              Handtmann,
      Inc.

            	 
      	
              Wisconsin
      Department of Financial Institutions

            	 
      	
              070005219724

              4-13-07

            	 
      	
              UCC-1

            	 
      	
              VF620C/18838
      continuous vacuum filler with filling, portioning &
      linking-VF628G/18120V continuous vacuum filler with filling, portioning
      & linking-GD93-3 inline grinder drive-grinder head for filling &
      portioning-vacuumized hopper system with conical
      reservoir-KLSH/18839-coexstrusion module box-861029 automatic bone
      separator, complete.

            	 
      	 
      

    

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    

    
      	
              Name of Debtor

            	 
      	
              Secured Party

            	 
      	
              Jurisdiction/Office

            	 
      	
              File Number/

              Date Filed

            	 
      	
              Type of UCC

            	 
      	
              Description of Collateral

            	 
      	
              Disposition

            
	
              Blodgett
      Holdings Inc.

            	 
      	
              Bank
      of America, N.A., as Administrative Agent

            	 
      	
              Delaware

              Secretary
      of State

            	 
      	
              11776447

              12-26-01

            	 
      	
              UCC-1

            	 
      	
              All
      of the Debtor's property and assets whether now existing or hereafter
      acquired.

            	 
      	 
      
	 
      	 
      	
              Bank
      of America, N.A., as Administrative Agent

            	 
      	
              Delaware

              Secretary
      of State

            	 
      	
              62749851

              8-3-06

            	 
      	
              UCC-3

              Continuation

            	 
      	 
      	 
      	
              Continues
      orig. file number 11776447

            
	
              Carter-Hoffmann
      a Division of

            	 
      	
              Solarcom
      LLC

              Additional
      Secured Party:

              Wells
      Fargo Equipment Finance

            	 
      	
              Delaware

              Secretary
      of State

            	 
      	
              2007
      0075431

              1-8-07

            	 
      	
              UCC-1

            	 
      	
              Computer
      Equipment from Lease 491984

            	 
      	 
      
	
              Carter-Hoffmann
      a Division of

            	 
      	
              Solarcom
      LLC

            	 
      	
              Delaware

              Secretary
      of State

            	 
      	
              2007
      2930294

              8-2-07

            	 
      	
              UCC-3

              Amendment

            	 
      	 
      	 
      	
              Amends
      file no. 2007 0075431, dated 1-8-07.

              Amends
      the Debtor name

              Carter-Hoffmann,
      LLC

            
	
              Carter-Hoffmann
      a Division of

            	 
      	
              Solarcom
      LLC

              Additional
      Secured Party:

              Wells
      Fargo Equipment Finance

            	 
      	
              Delaware

              Secretary
      of State

            	 
      	
              2007
      0649730

              2-20-07

            	 
      	
              UCC-1

            	 
      	
              Computer
      Equipment pursuant to a lease – not listed

            	 
      	 
      
	
              Carter-Hoffmann
      a Division of

            	 
      	
              Solarcom
      LLC

            	 
      	
              Delaware

              Secretary
      of State

            	 
      	
              2007
      2930203

              8-2-07

            	 
      	
              UCC-3

              Amendment

            	 
      	 
      	 
      	
              Amends
      file no. 2007 0649730, dated 1-8-07.

              Amends
      the Debtor name:

              Carter-Hoffmann,
      LLC

            
	
              Holman
      Cooking Equipment, Inc.

            	 
      	
              Antares
      Capital Corporation, as Agent

            	 
      	
              Delaware

               Secretary
      of State

            	 
      	
              31226433

              5-13-03

            	 
      	
              UCC-1

            	 
      	
              All
      assets of the Debtor nor owned or existing and hereafter acquired or
      arising, including, without limitation, all now owned or existing and
      hereafter acquired or arising accounts, chattel paper (including
      electronic chattel paper and tangible chattel paper)., contracts, deposit
      accounts, commercial tort claims, documents, equipment, general
      intangibles (including payment intangibles and software) goods,
      health-care insurance receivables, instruments, inventory investment
      property, books and records, letter of credit rights and supporting
      obligations and records, in each case wheresoever located, together with
      all accessions to substitutions for and replacements, products and
      proceeds of all of the foregoing.

            	 
      	 
      
	
              Holman
      Cooking Equipment, Inc.

            	 
      	
              Antares
      Capital Corporation, as Agent

            	 
      	
              Delaware

               Secretary
      of State

            	 
      	
              42757591

              10-1-04

            	 
      	
              UCC-1

            	 
      	
              All
      assets of the Debtor nor owned or existing and hereafter acquired or
      arising, including, without limitation, all now owned or existing and
      hereafter acquired or arising accounts, chattel paper (including
      electronic chattel paper and tangible chattel paper)., contracts, deposit
      accounts, commercial tort claims, documents, equipment, general
      intangibles (including payment intangibles and software) goods,
      health-care insurance receivables, instruments, inventory investment
      property, books and records, letter of credit rights and supporting
      obligations and records, in each case wheresoever located, together with
      all accessions to substitutions for and replacements, products and
      proceeds of all of the foregoing.

            	 
      	 
      

    

    

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    

    
      	
              Name of Debtor

            	 
      	
              Secured Party

            	 
      	
              Jurisdiction/Office

            	 
      	
              File Number/

              Date Filed

            	 
      	
              Type of UCC

            	 
      	
              Description of Collateral

            	 
      	
              Disposition

            
	
              Jade
      Range, LLC

            	 
      	
              US
      Express Leasing, Inc.

            	 
      	
              Delaware

              Secretary
      of State

            	 
      	
              2007
      4563283

              12-04-07

            	 
      	
              UCC-1

            	 
      	
              All
      items of personal property leased pursuant to that certain Lease Agreement
      dated November 19, 2007, by and between US Express Leasing, Inc. as
      lessor, rentor or owner and Jade Range, LLC as lessee or customers, as
      more specifically described below and/or in attachments hereto, together
      with all related software (embedded therein or otherwise ), all additions,
      attachments, accessories and accessions therto, whether or not furnished
      by the supplier therof; and any and all substituions, replacements or
      exchanges for any such item of equipment and any and all insurance and/or
      other proceeds therof.  Copystar cs 1820 copier quantity five
      Kyocera FS 1920 laser jet printer quantity two Kyocera FS 20000 laser jet
      printer quantity six Kyocera FS 9120 laser jet printer quantity two
      Kyocera FS 3900 laser jet printer quantity two Kyocera FS 4000 laser jet
      printer quantity one Panasonic UF7000 network fax quantity
    two

            	 
      	 
      
	
              MagiKitch'n
      Inc.

            	 
      	
              Bank
      of America, N.A., as Administrative Agent

            	 
      	
              Pennsylvania
      Department of State

            	 
      	
              34760048

              12-26-01

            	 
      	
              UCC-1

            	 
      	
              All
      of the Debtor's property and assets whether now existing or hereafter
      acquired.

            	 
      	 
      
	 
      	 
      	
              Bank
      of America, N.A., as Administrative Agent

            	 
      	
              Pennsylvania
      Department of State

            	 
      	
              2006062902214

              6-26-06

            	 
      	
              UCC-3

              Continuation

            	 
      	 
      	 
      	
              Continues
      orig. file number 34760048

            
	
              Middleby
      Marshall Holding LLC

            	 
      	
              Bank
      of America, N.A., as Administrative Agent

            	 
      	
              Delaware

              Secretary
      of State

            	 
      	
              50837105

              3-16-05

            	 
      	
              UCC-1

            	 
      	
              All
      of the Debtor's property and assets whether now existing or hereafter
      acquired.

            	 
      	 
      
	
              Middleby
      Marshall Inc.

            	 
      	
              Bank
      of America, N.A., as Administrative Agent

            	 
      	
              Delaware

              Secretary
      of State

            	 
      	
              11776488

              12-26-01

            	 
      	
              UCC-1

            	 
      	
              All
      of the Debtor's property and assets whether now existing or hereafter
      acquired.

            	 
      	 
      
	 
      	 
      	
              Bank
      of America, N.A., as Administrative Agent

            	 
      	
              Delaware

              Secretary
      of State

            	 
      	
              62233690

              6-26-06

            	 
      	
              UCC-3

              Continuation

            	 
      	 
      	 
      	
              Continues
      orig. file number 11776488

            
	
              Middleby
      Marshall Inc.

            	 
      	
              Toyota
      Financial Services

            	 
      	
              Delaware

              Secretary
      of State

            	 
      	
              40927386

              3-25-04

            	 
      	
              UCC-1

            	 
      	
              This
      financing statement is for information purposes only.  The
      Secured Party is the owner of the following described
      property:  One new Toyota model 7FGCU25 serial number 76315
      equipped with:  side shifter, 42" forks, backup alarm, 189" FSV
      mast, single internal hosing, strobe/flashing lights, non marking tires LP
      less tank.

            	 
      	 
      

    

    

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    
      	
              Name of Debtor

            	 
      	
              Secured Party

            	 
      	
              Jurisdiction/Office

            	 
      	
              File Number/

              Date Filed

            	 
      	
              Type of UCC

            	 
      	
              Description of Collateral

            	 
      	
              Disposition

            
	
              Middleby
      Marshall Inc.

            	 
      	
              NMHG
      Financial Services, Inc.

            	 
      	
              Delaware

              Secretary
      of State

            	 
      	
              2007
      0138254

              1-11-07

            	 
      	
              UCC-1

            	 
      	
              All
      of the equipment now or hereafter leased by Lessor to Lessee; and all
      accessions, additions, replacement, and substitutions thereto and
      therefore; and all proceeds including insurance proceeds
      thereof.

            	 
      	 
      
	
              Middleby
      Worldwide, Inc.

            	 
      	
              Bank
      of America, N.A., as Administrative Agent

            	 
      	
              Florida
      Secured Transaction Registry

            	 
      	
              20019063702X

              12-26-01

            	 
      	
              UCC-1

            	 
      	
              All
      of the Debtor's property and assets whether now existing or hereafter
      acquired.

            	 
      	 
      
	 
      	 
      	
              Bank
      of America, N.A., as Administrative Agent

            	 
      	
              Florida
      Secured Transaction Registry

            	 
      	
              200603016063

              6-26-06

            	 
      	
              UCC-3

              Continuation

            	 
      	 
      	 
      	
              Continues
      orig. file number 20019063702X

            
	
              New
      Star International Holdings, Inc.

            	 
      	
              Antares
      Capital Corporation, as Agent

            	 
      	
              Delaware

              Secretary
      of State

            	 
      	
              31246670

              5-15-03

            	 
      	
              UCC-1

            	 
      	
              All
      of Debtor's now owned or existing or hereafter acquired or arising capital
      stock of Star International Holdings, Inc.,  a Delaware
      corporation (the "Subsidiary"), and any and all warrants, options or other
      rights to purchase stock of the subsidiary, and all general intangibles
      and other rights and property associated therewith, all as more fully
      descired in Exhibit A attached hereto and made a part hereof, and 41.85%
      of any net cash proceeds received by and owned by Debtor after May 13,
      2003 pursuant to Debtor's rights under that Certain Agreement and Plan of
      Merger dated may 13, 2003 by and among Debtor, Star International
      Holdings, Inc., a Delaware corporation, the stockholders party thereto
      (the "Stockholders") and Daniel B. Strickler Jr., in his capacity as a
      stockholder representative, as the same may hereinafter be amended,
      restated, supplemented or otherwise modified from time to
      time.

              i)  All
      of the capital stock of Star International Holdings, ii) all other
      property hereafter delivered to, or in the possession or in the custody of
      Debtor, iii) any other property of such Debtor which Debtor shall become
      entited to receive or shall receive, iv) any and all proceeds of any of
      the foregoing

            	 
      	 
      
	
              New
      Star International Holdings, Inc.

            	 
      	
              Antares
      Capital Corporation, as Agent

            	 
      	
              Delaware

               Secretary
      of State

            	 
      	
              42757534

              10-1-04

            	 
      	
              UCC-1

            	 
      	
              All
      assets of the Debtor nor owned or existing and hereafter acquired or
      arising, including, without limitation, all now owned or existing and
      hereafter acquired or arising accounts, chattel paper (including
      electronic chattel paper and tangible chattel paper)., contracts, deposit
      accounts, commercial tort claims, documents, equipment, general
      intangibles (including payment intangibles and software) goods,
      health-care insurance receivables, instruments, inventory investment
      property, books and records, letter of credit rights and supporting
      obligations and records, in each case wheresoever located, together with
      all accessions to substitutions for and replacements, products and
      proceeds of all of the foregoing.

            	 
      	 
      

    

    

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    

    
      	
              Name of Debtor

            	 
      	
              Secured Party

            	 
      	
              Jurisdiction/Office

            	 
      	
              File Number/

              Date Filed

            	 
      	
              Type of UCC

            	 
      	
              Description of Collateral

            	 
      	
              Disposition

            
	
              Pitco
      Frialator, Inc.

            	 
      	
              Bank
      of  America, N.A., as Administrative Agent

            	 
      	
              Hew
      Hampshire Secretary of State

            	 
      	
              593927

              12-24-01

            	 
      	
              UCC-1

            	 
      	
              All
      of Debtor's property and assets whether now existing or hereafter
      acquired.

            	 
      	 
      
	 
      	 
      	
              Bank
      of  America, N.A., as Administrative Agent

            	 
      	
              Hew
      Hampshire Secretary of State

            	 
      	
              20060015679H

              6-27-06

            	 
      	
              UCC-3

              Continuation

            	 
      	 
      	 
      	
              Continues
      orig. file number 593927

            
	
              Star
      International Holdings, Inc.

            	 
      	
              Antares
      Capital Corporation, as Agent

            	 
      	
              Delaware

               Secretary
      of State

            	 
      	
              31226441

              5-13-03

            	 
      	
              UCC-1

            	 
      	
              All
      assets of the Debtor nor owned or existing and hereafter acquired or
      arising, including, without limitation, all now owned or existing and
      hereafter acquired or arising accounts, chattel paper (including
      electronic chattel paper and tangible chattel paper)., contracts, deposit
      accounts, commercial tort claims, documents, equipment, general
      intangibles (including payment intangibles and software) goods,
      health-care insurance receivables, instruments, inventory investment
      property, books and records, letter of credit rights and supporting
      obligations and records, in each case wheresoever located, together with
      all accessions to substitutions for and replacements, products and
      proceeds of all of the foregoing.

            	 
      	
              Debtor
      address change to: 5225 S. Loop 289, Lubbock, TX
      79424.  Collateral Restated

            
	
              Star
      International Holdings, Inc.

            	 
      	
              Antares
      Capital Corporation, as Agent

            	 
      	
              Delaware

               Secretary
      of State

            	 
      	
              42757732

              10-1-04

            	 
      	
              UCC-1

            	 
      	
              All
      assets of the Debtor nor owned or existing and hereafter acquired or
      arising, including, without limitation, all now owned or existing and
      hereafter acquired or arising accounts, chattel paper (including
      electronic chattel paper and tangible chattel paper)., contracts, deposit
      accounts, commercial tort claims, documents, equipment, general
      intangibles (including payment intangibles and software) goods,
      health-care insurance receivables, instruments, inventory investment
      property, books and records, letter of credit rights and supporting
      obligations and records, in each case wheresoever located, together with
      all accessions to substitutions for and replacements, products and
      proceeds of all of the foregoing.

            	 
      	 
      

    

    

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    
      	
              Name of Debtor

            	 
      	
              Secured Party

            	 
      	
              Jurisdiction/Office

            	 
      	
              File Number/

              Date Filed

            	 
      	
              Type of UCC

            	 
      	
              Description of Collateral

            	 
      	
              Disposition

            
	
              Star
      Manufacturing International, Inc.

            	 
      	
              Antares
      Capital Corporation, as Agent

            	 
      	
              Delaware

              Secretary
      of State

            	 
      	
              31226409

              5-13-03

            	 
      	
              UCC-1

            	 
      	
              All
      assets of the Debtor nor owned or existing and hereafter acquired or
      arising, including, without limitation, all now owned or existing and
      hereafter acquired or arising accounts, chattel paper (including
      electronic chattel paper and tangible chattel paper)., contracts, deposit
      accounts, commercial tort claims, documents, equipment, general
      intangibles (including payment intangibles and software) goods,
      health-care insurance receivables, instruments, inventory investment
      property, books and records, letter of credit rights and supporting
      obligations and records, in each case wheresoever located, together with
      all accessions to substitutions for and replacements, products and
      proceeds of all of the foregoing.

            	 
      	 
      
	
              Star
      Manufacturing International, Inc.

            	 
      	
              Antares
      Capital Corporation, as Agent

            	 
      	
              Delaware

              Secretary
      of State

            	 
      	
              32218504

              8-27-03

            	 
      	
              UCC-3

              Amendment

            	 
      	 
      	 
      	
              Amendment
      to Filing:

              31226409
      dated 5-13-03;  Changes the name of the Debtor
      to:  Star Manufacturing International Inc.

            
	
              Star
      Manufacturing International Inc.

            	 
      	
              Antares
      Capital Corporation, as Agent

            	 
      	
              Delaware

              Secretary
      of State

            	 
      	
              32198144

              8-25-03

            	 
      	
              UCC-1

            	 
      	
              All
      assets of the Debtor nor owned or existing and hereafter acquired or
      arising, including, without limitation, all now owned or existing and
      hereafter acquired or arising accounts, chattel paper (including
      electronic chattel paper and tangible chattel paper)., contracts, deposit
      accounts, commercial tort claims, documents, equipment, general
      intangibles (including payment intangibles and software) goods,
      health-care insurance receivables, instruments, inventory investment
      property, books and records, letter of credit rights and supporting
      obligations and records, in each case wheresoever located, together with
      all accessions to substitutions for and replacements, products and
      proceeds of all of the foregoing.

            	 
      	 
      
	
              Star
      Manufacturing International Inc.

            	 
      	
              Antares
      Capital Corporation, as Agent

            	 
      	
              Delaware

              Secretary
      of State

            	 
      	
              42757724

              10-1-04

            	 
      	
              UCC-1

            	 
      	
              All
      assets of the Debtor nor owned or existing and hereafter acquired or
      arising, including, without limitation, all now owned or existing and
      hereafter acquired or arising accounts, chattel paper (including
      electronic chattel paper and tangible chattel paper)., contracts, deposit
      accounts, commercial tort claims, documents, equipment, general
      intangibles (including payment intangibles and software) goods,
      health-care insurance receivables, instruments, inventory investment
      property, books and records, letter of credit rights and supporting
      obligations and records, in each case wheresoever located, together with
      all accessions to substitutions for and replacements, products and
      proceeds of all of the foregoing.

            	 
      	 
      

    

    

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    

    
      	
              Name of Debtor

            	 
      	
              Secured Party

            	 
      	
              Jurisdiction/Office

            	 
      	
              File Number/

              Date Filed

            	 
      	
              Type of UCC

            	 
      	
              Description of Collateral

            	 
      	
              Disposition

            
	
              Star
      Manufacturing International Inc.

            	 
      	
              Greater
      Bay Bank N.A.

            	 
      	
              Delaware

               Secretary
      of State

            	 
      	
              62275378

              6-30-06

            	 
      	
              UCC-1

            	 
      	
              The
      equipment described below and all equipment parts, accessories,
      substitutions, additions, accessions and replacements thereto and thereof,
      now or hereafter installed in, affixed to, or used in conjunction
      therewith and the proceeds thereof, together with all installment
      payments, insurance proceeds,  other proceeds and payments due
      and to become due arising from or relating to said
    equipment.

            	 
      	 
      
	
              The
      Middleby Corporation

            	 
      	
              Bank
      of America, N.A., as Administrative Agent

            	 
      	
              Delaware

              Secretary
      of State

            	 
      	
              11776546

              12-26-01

            	 
      	
              UCC-1

            	 
      	
              All
      of the Debtor's property and assets whether now existing or hereafter
      acquired.

            	 
      	 
      
	 
      	 
      	
              Bank
      of America, N.A., as Administrative Agent

            	 
      	
              Delaware

              Secretary
      of State

            	 
      	
              62233682

              6-26-06

            	 
      	
              UCC-3

              Continuation

            	 
      	 
      	 
      	
              Continues
      orig. file number 11776546

            
	
              The
      Middleby Corporation

            	 
      	
              De
      Lage Landen Financial Services, Inc.

            	 
      	
              Delaware

              Secretary
      of State

            	 
      	
              50785882

              3-11-05

            	 
      	
              UCC-1

            	 
      	
              All
      components, additions, upgrades, attachments, accessions, substitutions,
      replacements and proceeds of the forgoing.  This filing is for
      precautionary purposes in connection with an equipment leasing transaction
      and is not to be construed and indicated that the transaction is other
      than a true lease.

            	 
      	 
      
	
              Wells
      Bloomfield a Division of

            	 
      	
              Wells
      Fargo Equipment Finance

            	 
      	
              Delaware

              Secretary
      of State

            	 
      	
              60499269

              2-10-06

            	 
      	
              UCC-1

            	 
      	
              Computer
      Equipment from Leases 467582, 469528 and 458297

            	 
      	 
      
	
              Wells
      Bloomfield a Division of

            	 
      	
              Wells
      Fargo Equipment Finance

            	 
      	
              Delaware

              Secretary
      of State

            	 
      	
              2007
      2929536

              8-2-07

            	 
      	
              UCC-3

              Amendment

            	 
      	 
      	 
      	
              Amends
      file no. 60499269, dated 2-10-06.

              Amends
      the name of the Debtor:  Wells Bloomfield,
LLC

            
	
              Wells
      Bloomfield a Divison of

            	 
      	
              Solarcom
      LLC

              Additional
      Secured Party:

              Wells
      Fargo Equipment Finance

            	 
      	
              Delaware
      Secretary of State

            	 
      	
              63108818

              9-7-06

            	 
      	
              UCC-1

            	 
      	
              Computer
      Equipment as described on the Addendum

            	 
      	 
      

    

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    
 

    
      	
              Name of Debtor

            	 
      	
              Secured Party

            	 
      	
              Jurisdiction/Office

            	 
      	
              File Number/

              Date Filed

            	 
      	
              Type of UCC

            	 
      	
              Description of Collateral

            	 
      	
              Disposition

            
	
              Wells
      Bloomfield a Division of

            	 
      	
              Wells
      Fargo Equipment Finance

            	 
      	
              Delaware

              Secretary
      of State

            	 
      	
              2007
      2929395

              8-2-07

            	 
      	
              UCC-3

              Amendment

            	 
      	 
      	 
      	
              Amends
      file no. 63108818, dated 9-7-06

              Amends
      the name of the Debtor:  Wells Bloomfield,
  LLC

            

    

    
 

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    SCHEDULE
10.19

    

    INVESTMENTS

    

    NONE.

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    SCHEDULE
15.3

    ADDRESSES
FOR NOTICES

     

    1.  Address
for Loan Parties:

    

    Borrower:

    

    Middleby
Marshall, Inc.

    1400
Toastmaster Drive

    Elgin,
IL  60120

    Attention:
Chief Financial Officer

    Telephone:
(847) 741-3300

    Facsimile:
(847) 741-1689

     

    2.  Addresses
for Administrative Agent, Swing Line Lender and L/C Issuer:

    

    Agent’s
Office:

    (for
payments and requests)

    

    Bank of
America, N.A.

    Credit
Services

    901 Main
Street

    Mail
Code:  TX1-492-14-14

    Dallas,
TX  75202

    Attention:   Denise
Wolfenberger

    Telephone:  214-209-3175

    Facsimile :  214-290-8373

    

    Wiring
instructions:

    Bank of
America, N.A.

    ABA #
026009593

    Account
Name: Credit Services

    Account
Number:  129-2000-883

    Attention:  Denise
Wolfenberger

    Reference:  Middleby
Marshall

    

    Other Notices to
Administrative Agent:

    (financial
reporting requirements, bank group communications)

    

    Bank of
America, N.A.

    Agency
Management

    231 South
LaSalle Street

    Mail
Code:  IL1-231-10-41

    Chicago,
IL  60697

    Attention:  Suzanne
M. Paul

    Telephone:
312-923-1640

    Telecopier:  877-206-8435

    Electronic
Mail:  suzanne.m.paul@bankofamerica.com

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    For Notices as L/C
Issuer:

    

    Bank of
America, N.A.

    Trade
Operations-Scranton

    1 Fleet
Way

    Mail
Code: PA6-580-02-30

    Scranton,
PA  18507

    Attention:  Mary
J. Cooper

    Telephone:  570-330-4235

    Facsimile:  570-330-4186

    Electronic
Mail:  mary.j.cooper@bankofamerica.com

    

    For
Notices as Swing Line Lender:

    (daily
borrowing/repaying activity)

    

    Bank of
America, N.A.

    Credit
Services

    901 Main
Street

    Mail
Code:  TX1-492-14-14

    Dallas,
TX  75202

    Attention:   Denise
Wolfenberger

    Telephone:  214-209-3175

    Facsimile :  214-290-8373

    

    Wiring
instructions:

    Bank of
America, N.A.

    ABA
#  026009593

    Account
Name: Credit Services

    Account
Number:  129-2000-883

    Attention:  Denise
Wolfenberger

    Reference:  Middleby
Marshall

    

     For
Notices as Lender:

    

    Bank of
America, N.A.

    231 South
LaSalle Street

    Mail
Code:  IL1-231-06-40

    Chicago,
IL  60697

    Attention:  Craig
W. McGuire

    Telephone:
312-828-1320

    Telecopier:  312-974-0333

    Electronic
Mail:  craig.w.mcguire@bankofamerica.com

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    EXHIBIT
A

     

    FORM
OF

    COMPLIANCE
CERTIFICATE

    FOR THE
PERIOD ENDED __________

     

    To:         Bank
of America, N.A., as Administrative Agent

     

    Reference
is made to Section 10.1.3 of the Fourth Amended and Restated Credit Agreement
dated as of December 28, 2007 (as amended, restated, supplemented or otherwise
modified from time to time, the “Credit Agreement”)
among Middleby Marshall Inc., The Middleby Corporation (the “Parent”), various
financial institutions and Bank of America, N.A., as Administrative
Agent.  Capitalized terms used but not defined herein have the
meanings set forth in the Credit Agreement.

     

    The
Parent hereby certifies and warrants to you that (a) set forth on Attachments 1 and
2 are true and
correct computations of the financial ratios and restrictions set forth in
Section 10.6 of the Credit Agreement and (b) set forth on Attachment 3 is an
accurate and complete organizational chart for the Parent and its Subsidiaries
as of the date of the preparation of this Certificate.

     

    The
Parent further certifies to you on behalf of the Company that no Event of
Default or Unmatured Event of Default has occurred and is continuing [except as
follows:].

     

    IN
WITNESS WHEREOF, the Parent has caused this Certificate to be executed and
delivered by a duly authorized officer this ____ day of _________,
20__.

     

    
      
        	
                THE
      MIDDLEBY CORPORATION

              
	 
      	 
      
	
                By:

              	
                  

              
	
                Title:

              	
                  

              

      

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

     

    
      
        Attachment
1

        10.6.1
Minimum Fixed Charge Coverage
Ratio

      

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            	 	 	 	 	 	 	 
	
                                    1.

                                  	 
      	
                                    Consolidated
      Net Income for Computation Period

                                  	 
      	
                                    $_______

                                  	 
      	 
      
	
                                    2.

                                  	 
      	
                                    Interest
      Expense for Computation Period

                                  	 
      	
                                    $_______

                                  	 
      	 
      
	
                                    3.

                                  	 
      	
                                    Income
      tax expense for Computation Period

                                  	 
      	
                                    $_______

                                  	 
      	 
      
	
                                    4.

                                  	 
      	
                                    Non-cash
      foreign exchange gains and losses, non-cash equity compensation and
      non-cash losses with respect to Hedging Obligations for Computation
      Period

                                  	 
      	
                                    $_______

                                  	 
      	 
      
	
                                    5.

                                  	 
      	
                                    Depreciation
      and amortization for Computation Period

                                  	 
      	
                                    $_______

                                  	 
      	 
      
	
                                    6.

                                  	 
      	
                                    Charges
      taken during the Computation Period in connection with the refinancing or
      repayment of Debt under the Existing Credit Agreement, including the
      write-off of deferred financing costs,

                                  	 
      	
                                    $_______

                                  	 
      	 
      
	
                                    7.

                                  	 
      	
                                    Non-recurring
      charges, fees and expenses for Computation Period in connection with or
      relating to acquisitions or dispositions1

                                  	 
      	
                                    $_______

                                  	 
      	 
      
	
                                    8.

                                  	 
      	
                                    Goodwill
      Addbacks2

                                  	 
      	
                                    $_______

                                  	 
      	 
      
	
                                    9.

                                  	 
      	
                                    EBITDA
      for Computation Period (Sum of items 1 through 8)

                                  	 
      	
                                       

                                  	 
      	

                                    $_______

                                  
	
                                    10.

                                  	 
      	
                                    Pro
      Forma EBITDA for Computation Period3

                                  	 
      	
                                       

                                  	 
      	

                                    $_______

                                  
	
                                    11.

                                  	 
      	
                                    Capital
      Expenditures for Computation Period4

                                  	 
      	
                                    $_______

                                  	 
      	 
      
	
                                    12.

                                  	 
      	
                                    Cash
      income tax expense for Computation Period

                                  	 
      	
                                    $_______

                                  	 
      	 
      
	
                                    13.

                                  	 
      	
                                    Dividends
      paid in cash by Parent during Computation Period

                                  	 
      	
                                    $_______

                                  	 
      	 
      
	
                                    14.

                                  	 
      	
                                    Consolidated
      Net Income available for Fixed Charges for Computation Period (Item 10
      minus item 11 minus item 12 minus item 13)

                                  	 
      	 
      	 
      	
                                    $_______

                                  
	
                                    15.

                                  	 
      	
                                    Cash
      Interest Expense for Computation Period4

                                  	 
      	
                                    $_______

                                  	 
      	 
      
	
                                    16.

                                  	 
      	
                                    Actual
      aggregate amount of all scheduled principal payments on Debt (other than
      Debt permitted by Section 10.7(l) of the Credit Agreement) made during
      Computation Period

                                  	 
      	
                                    $_______

                                  	 
      	 
      
	
                                    17.

                                  	 
      	
                                    Fixed
      Charges for Computation Period (Item 15 plus item 16)

                                  	 
      	 
      	 
      	
                                    $_______

                                  
	
                                    18.

                                  	 
      	
                                    Fixed
      Charge Coverage Ratio for Computation Period (Ratio of item 14 to item
      17)

                                  	 
      	 
      	 
      	
                                    ___
      to 1.0

                                  
	
                                    Minimum
      Fixed Charge Covenant Ratio Required as of the last day of such
      Computation Period:

                                  	 
      	 
      	 
      	
                                    1.25
      to
1.0

                                  

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

    
      
        

      

      1 Only the
first $5,000,000 of such charges incurred after the Effective Time. 

    

    
      2 Only the
first $50,000,000 of Goodwill Addbacks taken after the Effective Time. 

    

    
      3 Adjusted
for acquisitions and dispositions in accordance with the proviso to the
definition of “Pro Forma EBITDA” 

    

    
      4 Adjusted
for acquisitions and dispositions in accordance with the proviso to the
definition of “Fixed Charge Coverage Ratio”

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    

    Attachment
2

    10.6.2 Leverage
Ratio

    

    
      
        
          
            
              
                	
                        1.

                      	 
      	
                        Funded
      Debt as of last day of Fiscal Quarter

                      	 	 
      	 
      	
                        $_______

                      
	
                        2.

                      	 
      	
                        Pro
      Forma EBITDA for Computation Period ending on the last day of Fiscal
      Quarter (From Attachment 1, item 10)

                      	 	 
      	 
      	
                        $_______

                      
	
                        3.

                      	 
      	
                        Leverage
      Ratio as of the last day of Fiscal Quarter (Ratio of item 1 to item
      2)

                      	 	 
      	 
      	
                        ___
      to 1.0

                      
	
                        Maximum allowed as of the last day of Fiscal
      Quarter:

                      	 	
                          

                      	 
      	
                        3.50
      to
1.0

                      

              

            

          

        

      

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    

    Attachment
3

    Organizational
Chart

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    EXHIBIT
B

     

    COPY
OF SUBSIDIARY GUARANTY

     

    (see
attached)

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    SUBSIDIARY
GUARANTY

     

    THIS
SUBSIDIARY GUARANTY dated as of December 21, 2001 is executed in favor of BANK
OF AMERICA, N.A. (“Bank of America”),
individually and as Administrative Agent (as defined below), and the Lender
Parties (as defined below).

     

    WITNESSETH:

     

    WHEREAS,
The Middleby Corporation, Middleby Marshall Inc. (the “Borrower”), various
financial institutions (the “Lenders”) and Bank of
America, as administrative agent for the Lenders (in such capacity, the “Administrative
Agent”), have entered into a Credit Agreement dated as of December 21,
2001 (as amended, restated or otherwise modified from time to time, the “Credit Agreement;”
capitalized terms used but not defined herein have the respective meanings
ascribed thereto in the Credit Agreement); and

     

    WHEREAS,
each of the undersigned will benefit from the making of loans and the issuance
of letters of credit pursuant to the Credit Agreement and is willing to guaranty
the Liabilities (as defined below) as hereinafter set forth;

     

    NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, each of the undersigned hereto agrees as
follows:

     

    Each of
the undersigned hereby jointly and severally, unconditionally and irrevocably,
as primary obligor and not merely as surety, guarantees the full and prompt
payment when due, whether by acceleration or otherwise, and at all times
thereafter, of (a) all obligations of the Borrower, howsoever created, arising
or evidenced, whether direct or indirect, absolute or contingent, now or
hereafter existing, or due or to become due, which arise out of or in connection
with the Credit Agreement or any other Loan Document, as the same may be
amended, modified, extended or renewed from time to time, (b) all Hedging
Obligations of the Borrower to any Lender Party (as defined below) and (c) all
reasonable out-of-pocket costs and expenses paid or incurred by the
Administrative Agent or any Lender Party during the existence of an Event of
Default in enforcing this Subsidiary Guaranty or any other applicable Loan
Document against such undersigned (all such obligations being herein
collectively called the “Liabilities”); provided that the
liability of each of the undersigned hereunder shall be limited to the maximum
amount of the Liabilities which such undersigned may guaranty without rendering
this Subsidiary Guaranty void or voidable with respect to such undersigned under
any fraudulent conveyance or fraudulent transfer law.  As used herein,
“Lender Party”
means each Lender and any Affiliate of such Lender which is a party to a Hedging
Agreement with the Borrower.

      

    Each of
the undersigned agrees that, in the event of the occurrence of any Event of
Default under Section 12.1.3 of the Credit Agreement, and if such event shall
occur at a time when any of the Liabilities may not then be due and payable,
such undersigned will pay to the Administrative Agent for the account of the
Lender Parties forthwith upon demand the full amount which would be payable
hereunder by such undersigned if all Liabilities were then due and
payable.

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    To secure
all obligations of each of the undersigned hereunder, the Administrative Agent
and each Lender Party shall have a lien on and security interest in (and may,
without demand or notice of any kind, at any time and from time to time when any
Unmatured Event of Default under Section 12.1.3 of the Credit Agreement or any
Event of Default exists, appropriate and apply toward the payment of the
Liabilities), any and all balances, credits, deposits, accounts or moneys of or
in the name of such undersigned now or hereafter with the Administrative Agent
or such Lender Party and any and all property of every kind or description of or
in the name of such undersigned now or hereafter, for any reason or purpose
whatsoever, in the possession or control of, or in transit to, the
Administrative Agent or such Lender Party or any agent or bailee for the
Administrative Agent or such Lender Party.

     

    This
Subsidiary Guaranty shall in all respects be a continuing, irrevocable, absolute
and unconditional guaranty of payment and performance and not only
collectibility, and shall remain in full force and effect (notwithstanding,
without limitation, the dissolution of any of the undersigned, that at any time
or from time to time no Liabilities are outstanding or any other circumstance)
until all Commitments have terminated and all Liabilities have been paid in full
(other than contingent indemnification obligations not yet due and
payable).

     

    The
undersigned further agree that if at any time all or any part of any payment
theretofore applied by the Administrative Agent or any Lender Party to any of
the Liabilities is or must be rescinded or returned by the Administrative Agent
or such Lender Party for any reason whatsoever (including, without limitation,
the insolvency, bankruptcy or reorganization of the Borrower or any of the
undersigned), such Liabilities shall, for the purposes of this Subsidiary
Guaranty, to the extent that such payment is or must be rescinded or returned,
be deemed to have continued in existence, notwithstanding such application by
the Administrative Agent or such Lender Party, and this Subsidiary Guaranty
shall continue to be effective or be reinstated, as the case may be, as to such
Liabilities, all as though such application by the Administrative Agent or such
Lender Party had not been made.

     

    The
Administrative Agent or any Lender Party may, from time to time, at its sole
discretion and without notice to the undersigned (or any of them), take any or
all of the following actions:  (a) retain or obtain a security
interest in any property to secure any of the Liabilities or any obligation
hereunder (it being understood that no such security interest will be taken with
respect to property of such undersigned without its consent), (b) retain or
obtain the primary or secondary obligation of any obligor or obligors, in
addition to the undersigned, with respect to any of the Liabilities, (c) extend
or renew any of the Liabilities for one or more periods (whether or not longer
than the original period), alter or exchange any of the Liabilities, or release
or compromise any obligation of any of the undersigned hereunder or any
obligation of any nature of any other obligor with respect to any of the
Liabilities, (d) release its security interest in, or surrender, release or
permit any substitution or exchange for, all or any part of any property
securing any of the Liabilities or any obligation hereunder, or extend or renew
for one or more periods (whether or not longer than the original period) or
release, compromise, alter or exchange any obligations of any nature of any
obligor with respect to any such property, and (e) resort to the undersigned (or
any of them) for payment of any of the Liabilities when due, whether or not the
Administrative Agent or such Lender Party shall have resorted to any property
securing any of the Liabilities or any obligation hereunder or shall have
proceeded against any other of the undersigned or any other obligor primarily or
secondarily obligated with respect to any of the Liabilities.

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    Any
amounts received by the Administrative Agent or any Lender Party from whatever
source on account of the Liabilities may be applied by it toward the payment of
the Liabilities in accordance with the Credit Agreement; and, notwithstanding
any payments made by or for the account of any of the undersigned pursuant to
this Subsidiary Guaranty, the undersigned shall not exercise any right of
subrogation to any rights of the Administrative Agent or any Lender Party until
such time as this Subsidiary Guaranty shall have been terminated as to all of
the undersigned and the Administrative Agent and the Lender Parties shall have
received payment of the full amount of all Liabilities.

     

    The
undersigned hereby expressly waive:  (a) notice of the acceptance by
the Administrative Agent or any Lender Party of this Subsidiary Guaranty, (b)
notice of the existence or creation or non-payment of all or any of the
Liabilities, (c) presentment, demand, notice of dishonor, protest, and all other
notices (unless expressly provided for under the Loan
Documents)  whatsoever, and (d) all diligence in collection or
protection of or realization upon any Liabilities or any security for or
guaranty of any Liabilities.

     

    The
creation or existence from time to time of additional Liabilities to the
Administrative Agent or any Lender Party or any of them is hereby authorized,
without notice to the undersigned (or any of them), and shall in no way affect
or impair the rights of the Administrative Agent or any Lender Party or the
obligations of the undersigned under this Subsidiary Guaranty.

     

    The
Administrative Agent and any Lender Party may from time to time, without notice
to the undersigned (or any of them), assign or transfer any or all of the
Liabilities or any interest therein; and, notwithstanding any such assignment or
transfer or any subsequent assignment or transfer thereof, such Liabilities
shall be and remain Liabilities for the purposes of this Subsidiary Guaranty,
and each and every immediate and successive assignee or transferee of any of the
Liabilities or of any interest therein shall, to the extent of the interest of
such assignee or transferee in the Liabilities, be entitled to the benefits of
this Subsidiary Guaranty to the same extent as if such assignee or transferee
were a Lender Party.

     

    No delay
on the part of the Administrative Agent or any Lender Party in the exercise of
any right or remedy shall operate as a waiver thereof, and no single or partial
exercise by the Administrative Agent or any Lender Party of any right or remedy
shall preclude other or further exercise thereof or the exercise of any other
right or remedy; nor shall any modification or waiver of any provision of this
Subsidiary Guaranty be binding upon the Administrative Agent or any Lender Party
except as expressly set forth in a writing duly signed and delivered on behalf
of the Administrative Agent (or, if at any time there is no Administrative
Agent, the Required Lenders or, if required pursuant to Section 15.1 of the
Credit Agreement, all Lenders).  No action of the Administrative Agent
or any Lender Party permitted hereunder shall in any way affect or impair the
rights of the Administrative Agent or any Lender Party or the obligations of the
undersigned under this Subsidiary Guaranty.  For purposes of this
Subsidiary Guaranty, Liabilities shall include all obligations of the Borrower
to the Administrative Agent or any Lender Party arising under or in connection
with any Loan Document, notwithstanding any right or power of the Borrower or
anyone else to assert any claim or defense as to the invalidity or
unenforceability of any obligation, and no such claim or defense shall affect or
impair the obligations of the undersigned hereunder.

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    Pursuant
to the Credit Agreement, (a) this Subsidiary Guaranty has been delivered to the
Administrative Agent and (b) the Administrative Agent has been authorized to
enforce this Subsidiary Guaranty on behalf of itself and each of the other
Lender Parties.  All payments by the undersigned pursuant to this
Subsidiary Guaranty shall be made to the Administrative Agent for application as
set forth in the Credit Agreement or, if there is no Administrative Agent, to
the Lender Parties for their ratable benefit.

     

    This
Subsidiary Guaranty shall be binding upon the undersigned and the successors and
assigns of the undersigned; and to the extent that the Borrower or any of the
undersigned is either a partnership, corporation, limited liability company or
other entity, all references herein to the Borrower and to the undersigned,
respectively, shall be deemed to include any successor or successors, whether
immediate or remote, to such entity.  The term “undersigned” as used
herein shall mean all parties executing this Subsidiary Guaranty and each of
them, and all such parties shall be jointly and severally obligated
hereunder.

     

    THIS
SUBSIDIARY GUARANTY IS GOVERNED BY THE LAWS OF THE STATE OF ILLINOIS WITHOUT
REGARD TO PRINCIPLES OF CONFLICTS OF LAW (EXCEPT 735 ILLINOIS COMPILED STATUTE
§105/5-5).  Wherever possible each provision of this Subsidiary
Guaranty shall be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this Subsidiary Guaranty shall be
prohibited by or invalid under such law, such provision shall be ineffective to
the extent of such prohibition or invalidity, without invalidating the remainder
of such provision or the remaining provisions of this Subsidiary
Guaranty.

     

    This
Subsidiary Guaranty may be executed in any number of counterparts and by
the different parties hereto on separate counterparts, and each such counterpart
shall be deemed to be an original but all such counterparts shall together
constitute one and the same Guaranty.  At any time after the date of
this Subsidiary Guaranty, one or more additional persons or entities may become
parties hereto by executing and delivering to the Administrative Agent a
counterpart of this Subsidiary Guaranty.  Immediately upon such
execution and delivery (and without any further action), each such additional
person or entity will become a party to, and will be bound by all of the terms
of, this Subsidiary Guaranty.

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    The
obligations of the undersigned under this Subsidiary Guaranty are secured
pursuant to a Security Agreement dated as of even date herewith (as amended or
otherwise modified from time to time) and may be secured by one or more other
agreements (including, without limitation, one or more pledge agreements,
mortgages, deeds of trust or other similar documents).

     

    Immediately
upon any sale or transfer (whether by merger, consolidation or otherwise) of all
of the stock of any of the undersigned to a Person other than an Affiliate of
the Parent, the Borrower or any Subsidiary which is permitted by the Credit
Agreement, the Administrative Agent shall execute and deliver such documents as
such undersigned shall reasonably request to release such undersigned from this
Subsidiary Guaranty.

     

    ANY
LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS
SUBSIDIARY GUARANTY OR ANY OTHER LOAN DOCUMENT, SHALL BE BROUGHT AND MAINTAINED
EXCLUSIVELY IN THE COURTS OF THE STATE OF ILLINOIS OR IN THE UNITED STATES
DISTRICT COURT FOR THE NORTHERN DISTRICT OF ILLINOIS; PROVIDED, HOWEVER, THAT ANY
SUIT SEEKING ENFORCEMENT AGAINST ANY COLLATERAL OR OTHER PROPERTY MAY BE
BROUGHT, AT THE ADMINISTRATIVE AGENT’S OPTION, IN THE COURTS OF ANY JURISDICTION
WHERE SUCH COLLATERAL OR OTHER PROPERTY MAY BE FOUND.  EACH OF THE
UNDERSIGNED HEREBY EXPRESSLY AND IRREVOCABLY SUBMITS TO THE JURISDICTION OF THE
COURTS OF THE STATE OF ILLINOIS AND OF THE UNITED STATES DISTRICT COURT FOR THE
NORTHERN DISTRICT OF ILLINOIS FOR THE PURPOSE OF ANY SUCH LITIGATION AS SET
FORTH ABOVE.  EACH OF THE UNDERSIGNED FURTHER IRREVOCABLY CONSENTS TO
THE SERVICE OF PROCESS BY REGISTERED MAIL, POSTAGE PREPAID, TO THE ADDRESS SET
FORTH UNDER ITS NAME IN SCHEDULE I HERETO (OR
SUCH OTHER ADDRESS AS IT SHALL HAVE SPECIFIED IN WRITING TO THE ADMINISTRATIVE
AGENT AS ITS ADDRESS FOR NOTICES HEREUNDER) OR BY PERSONAL SERVICE WITHIN OR
WITHOUT THE STATE OF ILLINOIS.  EACH OF THE UNDERSIGNED HEREBY
EXPRESSLY AND IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY
OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUCH
LITIGATION BROUGHT IN ANY SUCH COURT REFERRED TO ABOVE AND ANY CLAIM THAT ANY
SUCH LITIGATION HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.

     

    EACH
OF THE UNDERSIGNED, AND (BY ACCEPTING THE BENEFITS HEREOF) EACH OF THE
ADMINISTRATIVE AGENT AND EACH LENDER PARTY, HEREBY WAIVES ANY RIGHT TO A TRIAL
BY JURY IN ANY ACTION OR PROCEEDING TO ENFORCE OR DEFEND ANY RIGHTS UNDER THIS
SUBSIDIARY GUARANTY, OR ANY OTHER LOAN DOCUMENT AND ANY AMENDMENT, INSTRUMENT,
DOCUMENT OR AGREEMENT DELIVERED OR WHICH MAY IN THE FUTURE BE DELIVERED IN
CONNECTION HEREWITH OR THEREWITH OR ARISING FROM ANY FINANCING RELATIONSHIP
EXISTING IN CONNECTION WITH ANY OF THE FOREGOING, AND AGREES THAT ANY SUCH
ACTION OR PROCEEDING SHALL BE TRIED BEFORE A COURT AND NOT BEFORE A
JURY.

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    [REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, this Subsidiary Guaranty has been duly executed and delivered
as of the day and year first above written.

     

    MIDDLEBY
WORLDWIDE, INC.

    BLODGETT
HOLDINGS INC.

    G.S.
BLODGETT CORPORATION

    PITCO
FRIALATOR, INC.

    MAGIKITCH’N
INC.

    CLOVERLEAF
PROPERTIES, INC.

     

    By:        /s/
David B.
Baker                

    Name:      David
B. Baker
                 

    Title:
       Vice
President                    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    Signature
page for the Subsidiary Guaranty dated as of December 21, 2001 issued by various
subsidiaries of Middleby Marshall Inc. (the “Borrower”) in favor of Bank of
America, N.A., as Administrative Agent under the Credit Agreement dated as of
December 21, 2001 with The Middleby Corporation, the Borrower and various
financial institutions

     

    The
undersigned is executing a counterpart hereof for purposes of becoming a party
hereto:

    

    [SUBSIDIARY]

    

    By:                                                                              

    Name
Printed:                                                            

    Title:                                                                           

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    Schedule
I

    Address
of Guarantors

     

    Middleby
Worldwide, Inc.

    1400
Toastmaster Drive

    Elgin,
IL  60120

     

    Blodgett
Holdings Inc.

    50
Lakeside Avenue

    Burlington,
VT  05401

     

    G.S.
Blodgett Corporation

    50
Lakeside Avenue

    Burlington,
VT   05401

     

    Pitco
Frialator, Inc.

    509 Route
3A

    Bow,
NH   03304

     

    MagiKitch’n
Inc.

    50
Lakeside Avenue

    Burlington,
VT   05401

     

    Cloverleaf
Properties, Inc.

    50
Lakeside Avenue

    Burlington,
VT   05401

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

     

    EXHIBIT
C

     

    COPY
OF SECURITY AGREEMENT

     

    (see
attached)

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    SECURITY
AGREEMENT

     

    THIS
SECURITY AGREEMENT (this “Agreement”) dated as
of December 21, 2001 is among THE MIDDLEBY CORPORATION (the “Parent”), MIDDLEBY
MARSHALL INC. (the “Borrower”), each
subsidiary of the Borrower listed on the signature pages hereof, each other
person or entity which from time to time becomes a party hereto (collectively,
including the Parent and the Borrower, the “Debtors” and
individually each a “Debtor”) and BANK OF
AMERICA, N.A. (“Bank
of America”), in its capacity as Administrative Agent (as defined below)
for the Lenders (as defined below).

     

    WITNESSETH:

     

    WHEREAS,
the Parent, the Borrower, various financial institutions (the “Lenders”) and Bank of
America, as Administrative Agent for the Lenders (in such capacity, the “Administrative
Agent”), have entered into a Credit Agreement dated as of December 21,
2001 (as amended, restated or otherwise modified from time to time, the “Credit
Agreement”);

     

    WHEREAS,
the Parent has guaranteed all of the obligations of the Borrower under or in
connection with the Credit Agreement and certain hedging obligations pursuant to
the guaranty of the Parent set forth in Section 13 of the Credit Agreement, and
each other Debtor other than the Borrower has guaranteed all obligations of the
Borrower under or in connection with the Credit Agreement and certain hedging
obligations pursuant to a Subsidiary Guaranty dated as of December 21, 2001 (the
“Subsidiary
Guaranty”); and

     

    WHEREAS,
the obligations of the Borrower and the Parent under the Loan Documents (as
defined in the Credit Agreement) and the obligations of each other Debtor under
the Subsidiary Guaranty are to be secured pursuant to this
Agreement;

     

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

     

    1.           Definitions.  When
used herein, (a)  the terms Account, Account Debtor, Certificated
Security, Chattel Paper, Commodity Account, Commodity Contract, Deposit Account,
Document, Equipment, Fixture, Goods, Instrument, Inventory, Investment Property,
Security, Security Entitlement, Securities Account and Uncertificated Security
shall have the respective meanings assigned to such terms in the UCC (as defined
below), (b)  capitalized terms used but not defined have the meanings
assigned to such terms in the Credit Agreement and (c)  the following
terms have the following meanings (such definitions to be applicable to both the
singular and plural forms of such terms):

     

    Administrative Agent
- see the recitals.

     

    Agreement - see the
introductory paragraph.

     

    Assignee Deposit
Account - see Section
4.

     

    
      Bank of America - see
the introductory paragraph.

         

    

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

      

    Borrower - see the
introductory paragraph.

     

    Collateral - see
Section
2.

     

    Computer Hardware and
Software means, with respect to any Debtor, (i) all computer
and other electronic data processing hardware, whether now or hereafter owned,
licensed or leased by such Debtor, including, without limitation, all integrated
computer systems, central processing units, memory units, display terminals,
printers, card readers, tape drives, hard and soft disk drives, cables,
electrical supply hardware, generators, power equalizers, accessories and all
peripheral devices and other related computer hardware; (ii) all software
programs, whether now or hereafter owned, licensed or leased by such Debtor,
designed for use on the computers and electronic data processing hardware
described in clause
(i) above, including, without limitation, all operating system
software, utilities and application programs in whatsoever form (source code and
object code in magnetic tape, disk or hard copy format or any other listings
whatsoever); (iii) all firmware associated therewith, whether now or
hereafter owned, licensed or leased by such Debtor; (iv) all rights with respect
thereto, including, without limitation, any and all licenses, options,
warranties, service contracts, program services, test rights, maintenance
rights, support rights, improvement rights, renewal rights and indemnifications,
and any substitutions, replacements, additions or model conversions of any of
the foregoing; and (v) all documentation for such hardware, software and
firmware described in the preceding clauses (i),
(ii) and (iii), whether now or
hereafter owned, licensed or leased by such Debtor, including, without
limitation, flow charts, logic diagrams, manuals, specifications, training
materials, charts and pseudo codes.

     

    Costs and Expenses
means, with respect to any Debtor, all reasonable out-of-pocket costs and
expenses (including reasonable attorneys’ fees and legal expenses) incurred by
the Administrative Agent in connection with (i) the execution, delivery and
performance of this Agreement by such Debtor, (ii) protecting, preserving or
maintaining any Collateral of such Debtor, (iii) collecting the Liabilities of
such Debtor, and (iv) enforcing any rights of the Administrative Agent hereunder
in respect of the Collateral of such Debtor.

     

    Credit Agreement -
see the recitals.

     

    Debtor - see the
introductory paragraph.

     

    Default means the
occurrence of any of the following events: (i) any Unmatured Event of Default
under Section 12.1.3 of the Credit Agreement with respect to the Parent or the
Borrower, (ii) any Event of Default or (iii) any warranty of any Debtor herein
is untrue or misleading in any material respect and, as a result thereof, the
Administrative Agent’s security interest in any material portion of the
Collateral (of all Debtors taken as a whole) is not perfected or the
Administrative Agent’s rights and remedies with respect to any material portion
of the Collateral of all Debtors (taken as a whole) is materially impaired or
otherwise materially adversely affected.

     

    General Intangibles
means, with respect to any Debtor, all of such Debtor’s “general intangibles” as
defined in the UCC and, in any event, includes (without limitation) all of such
Debtor’s licenses, franchises, tax refund claims, guarantee claims, security
interests and rights to indemnification.

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

    Intellectual Property
means all of the following, whether now owned or hereafter acquired: trade
secrets and other proprietary information; customer lists; trademarks, service
marks, business  names, trade names, designs, logos, indicia, and/or
other source and/or business identifiers and the goodwill of the business
relating thereto and all registrations or applications for registrations which
have heretofore been or may hereafter be issued thereon throughout the world;
copyrights (including, without limitation, copyrights for computer programs) and
copyright registrations or applications for registrations which have heretofore
been or may hereafter be issued throughout the world; inventions (whether or not
patentable); patent applications and patents; industrial designs, industrial
design applications and registered industrial designs; license agreements
related to any of the foregoing and income therefrom; mask works, flow diagrams,
specification sheets, source codes, object codes and other physical
manifestations, embodiments or incorporations of any of the foregoing; the right
to sue for all past, present and future infringements of any of the foregoing;
and all common law and other rights throughout the world in and to all of the
foregoing.

     

    Lender Party means
each Lender and any Affiliate of such Lender which is a party to a Hedging
Agreement with the Borrower.

     

    Lenders - see the
recitals.

     

    Liabilities means (a)
with respect to the Borrower, (i) all obligations of the Borrower under or in
connection with the Credit Agreement or any other Loan Documents (including this
Agreement) and (ii) all Hedging Obligations of the Borrower to any Lender
Party,  (b) with respect to the Parent, all obligations of the Parent
under or in connection with the Credit Agreement or any other Loan Document
(including this Agreement) and (c) with respect to any other Debtor, all
obligations of such Debtor under or in connection with the Subsidiary Guaranty,
as the same may be amended, modified, extended or renewed from time to
time.

     

    Non-Tangible
Collateral means, with respect to any Debtor, collectively, such Debtor’s
Accounts and General Intangibles.

     

    Parent - see the
introductory paragraph.

     

    Permitted Liens - see
Section
3.

     

    Subsidiary Guaranty -
see the recitals.

     

    UCC means the Uniform
Commercial Code as in effect from time to time in the State of
Illinois.

     

    2.           Grant of Security
Interest.  As security for the payment and performance of all
Liabilities, each Debtor hereby assigns, pledges and conveys to the
Administrative Agent for the benefit of the Lender Parties, and grants to the
Administrative Agent for the benefit of the Lender Parties a continuing security
interest in, all of such Debtor’s right, title, and interest in the following,
whether now or hereafter existing or acquired:

    
      
         

      

      
        15

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (i)

            	
              Accounts;

            

    

     

    
      	
               
      

            	
              (ii)

            	
              Chattel
      Paper;

            

    

     

    
      	
               
      

            	
              (iii)

            	
              Computer
      Hardware and Software;

            

    

     

    
      	
               
      

            	
              (iv)

            	
              Deposit
      Accounts;

            

    

     

    
      	
               
      

            	
              (v)

            	
              Documents;

            

    

     

    
      	
               
      

            	
              (vi)

            	
              General
      Intangibles;

            

    

     

    
      	
               
      

            	
              (vii)

            	
              Goods
      (including, without limitation, all its Equipment, Fixtures and
      Inventory), together with all accessions, additions, attachments,
      improvements, substitutions and replacements thereto and
      therefor;

            

    

     

    
      	  	
              (viii)

            	
              Instruments;

            

    

     

    
      	
               
      

            	
              (ix)

            	
              Intellectual
      Property;

            

    

     

    
      	
               
      

            	
              (x)

            	
              Investment
      Property (including Commodity Accounts, Commodity Contracts, Securities
      (whether Certificated Securities or Uncertificated Securities), Security
      Entitlements and Securities
Accounts);

            

    

     

    
      	
               
      

            	
              (xi)

            	
              money
      (of every jurisdiction whatsoever);
and

            

    

     

    
      	
               
      

            	
              (xii)

            	
              to
      the extent not included in the foregoing, other personal property of any
      kind or description;

            

    

     

    together
with all of such Debtor’s right, title and interest in all books, records,
writings, data bases, information and other property relating to, used or useful
in connection with, evidencing, embodying, incorporating or referring to any of
the foregoing, all claims and/or insurance proceeds arising out of the loss,
nonconformity or any interference with the use of, or any defects or
infringements of rights in, or damage to, any of the foregoing, and all
proceeds, products, offspring, rents, issues, profits and returns of and from,
and all distributions on and rights arising out of, any of the
foregoing.

     

    All of
the foregoing are herein collectively called the “Collateral”.

     

    Notwithstanding
the foregoing, “Collateral” shall not include any general intangible or other
right arising under any contract, instrument, license or other document to the
extent (but only to the extent) that the grant of a security interest would (x)
result in a breach of the terms of, or constitute a default under, such
contract, instrument, license or other document (other than to the extent that
any such term would be rendered ineffective pursuant to Sections 9-406, 9-407 or
9-408 or any successor provision of the Uniform Commercial Code or any relevant
jurisdiction or any other applicable law) unless and until any required consent
shall have been obtained (provided that each
Debtor agrees to use commercially reasonable efforts to obtain any such required
consent) or (y) give any other party to such contract, instrument, license or
other document the right to terminate its obligations thereunder pursuant to a
valid and enforceable provision (provided that each
Debtor agrees to use commercially reasonable efforts to obtain the waiver of
each such right).

    
      
         

      

      
        16

        
          

        

      

      
         

      

    

    3.           Warranties.  Each
Debtor warrants that:  (i) no financing statement (other than any
which may have been filed on behalf of the Administrative Agent or in connection
with Permitted Liens (as defined below) and any financing statement filed as a
precautionary filing in connection with an operating lease) covering any of the
Collateral is on file in any public office; (ii) such Debtor is the lawful owner
of all Collateral, free of all liens and claims whatsoever, other than the
security interest hereunder and liens and claims expressly permitted by the
Credit Agreement (“Permitted Liens”), with full power and authority to execute
this Agreement and perform such Debtor’s obligations hereunder, and to subject
the Collateral to the security interest hereunder; (iii) all information with
respect to Collateral and Account Debtors set forth in any schedule, certificate
or other writing at any time heretofore or hereafter furnished by such Debtor to
the Administrative Agent or any Lender Party and all other written information
heretofore or hereafter furnished by such Debtor to the Administrative Agent or
any Lender Party in connection with the Credit Agreement will be true and
correct in all material respects as of the date furnished; (iv) such Debtor’s
true legal name as registered in the jurisdiction in which such Debtor is
organized or incorporated, jurisdiction of organization or incorporation,
federal employer identification number, organizational identification number, if
any, as designated by the state of its organization or incorporation, chief
executive office and principal place of business, in each case as of the date
hereof, are as set forth on Schedule I hereto
(and such Debtor has not maintained its chief executive office and principal
place of business at any other location at any time after May 31, 2001 through
and including the date hereof); (v) each other location where such Debtor
maintains a place of business or has any Goods, in each case as of the date
hereof, is set forth on Schedule II hereto;
(vi) except as disclosed on Schedule III, as of
the date of this Agreement such Debtor is not known, and during the five years
preceding the date hereof has not previously been known, by any trade name;
(vii) except as disclosed on Schedule III, during
the five years preceding the date hereof such Debtor has not been known by any
legal name different from the one set forth on the signature page of this
Agreement nor has such Debtor been the subject of any merger or other corporate
reorganization; and (viii) Schedule IV
hereto contains a complete listing of all of such Debtor’s Intellectual Property
which has been registered under any registration statute.

     

    4.           Collections,
etc.  Until such time during the existence of a Default as the
Administrative Agent shall notify such Debtor of the revocation of such power
and authority, each Debtor (a)  may, in the ordinary course of its
business, at its own expense, sell, lease or furnish under contracts of service
any of the Inventory normally held by such Debtor for such purpose, use and
consume, in the ordinary course of its business, any raw materials, work in
process or materials normally held by such Debtor for such purpose, and use, in
the ordinary course of its business (but subject to the terms of the Credit
Agreement), the cash proceeds of Collateral and other money which constitutes
Collateral, (b)  will, at its own expense, endeavor to collect (in a
manner consistent with past practice), as and when due, all amounts due under
any of the Non-Tangible Collateral and (c)  may grant, in the ordinary
course of business, to any party obligated on any of the Non-Tangible
Collateral, any rebate, refund or allowance to which such party may be lawfully
entitled, and may accept, in connection therewith, the return of Goods, the sale
or lease of which shall have given rise to such Non-Tangible
Collateral.  The Administrative Agent, however, may, at any time that
a Default exists, whether before or after any revocation of such power and
authority or the maturity of any of the Liabilities, notify any parties
obligated on any of the Non-Tangible Collateral to make payment to the
Administrative Agent of any amounts due or to become due thereunder and enforce
collection of any of the Non-Tangible Collateral by suit or otherwise and
surrender, release or exchange all or any part thereof, or compromise or extend
or renew for any period (whether or not longer than the original period) any
indebtedness thereunder or evidenced thereby.  Upon request of the
Administrative Agent during the existence of a Default, each Debtor will, at its
own expense, notify any parties obligated on any of the Non-Tangible Collateral
to make payment to the Administrative Agent for the benefit of the Lender
Parties of any amounts due or to become due thereunder.

    
      
         

      

      
        17

        
          

        

      

      
         

      

    

    Upon
request by the Administrative Agent during the existence of a Default, each
Debtor will forthwith, upon receipt, transmit and deliver to the Administrative
Agent, in the form received, all cash, checks, drafts and other instruments or
writings for the payment of money (properly endorsed, where required, so that
such items may be collected by the Administrative Agent) which may be received
by such Debtor at any time in full or partial payment or otherwise as proceeds
of any of the Collateral.  Except as the Administrative Agent may
otherwise consent in writing, any such items which may be so received by any
Debtor during the existence of a Default will not be commingled with any other
of its funds or property, but will be held separate and apart from its own funds
or property and upon express trust for the Administrative Agent until delivery
is made to the Administrative Agent.  Each Debtor will comply with the
terms and conditions of any consent given by the Administrative Agent pursuant
to the foregoing sentence.

     

    During
the existence of a Default, all items or amounts which are delivered by any
Debtor to the Administrative Agent on account of partial or full payment or
otherwise as proceeds of any of the Collateral shall be deposited to the credit
of a deposit account (each an “Assignee Deposit
Account”) of such Debtor maintained with the Administrative Agent, as
security for payment of the Liabilities.  No Debtor shall have any
right to withdraw any funds deposited in the applicable Assignee Deposit
Account.  So long as a Default continues to exist, the Administrative
Agent may, from time to time, in its discretion, and shall upon request of the
applicable Debtor made not more than once in any week, apply all or any of the
then balance, representing collected funds, in the Assignee Deposit Account,
toward payment of the Liabilities, whether or not then due, in such order of
application as the Administrative Agent may determine, and the Administrative
Agent may, from time to time, in its discretion, release all or any of such
balance to the applicable Debtor; provided that if such
Default shall no longer exist, the Administrative Agent shall release the
balance in the Assignee Deposit Account to the applicable Debtor.

     

    During
the existence of a Default, the Administrative Agent is authorized to endorse,
in the name of the applicable Debtor, any item, howsoever received by the
Administrative Agent, representing any payment on or other proceeds of any of
the Collateral.

    
      
         

      

      
        18

        
          

        

      

      
         

      

    

    5.           Certificates, Schedules and
Reports.  Each Debtor will from time to time deliver to the
Administrative Agent such schedules, certificates and reports respecting all or
any of the Collateral at the time subject to the security interest hereunder,
and the items or amounts received by such Debtor in full or partial payment of
any of the Collateral, each as the Administrative Agent may reasonably
request.  Any such schedule, certificate or report shall be executed
by a duly authorized officer of such Debtor and shall be in such form and detail
as the Administrative Agent may reasonably specify.  Each Debtor shall
immediately notify the Administrative Agent of the occurrence of any event
causing any loss or depreciation in the value of its Inventory or other Goods
which is material to the Parent and its Subsidiaries taken as a whole, and such
notice shall specify or reasonably estimate the amount of such loss or
depreciation.

     

    6.           Agreements of the
Debtors.  Each Debtor (a)  will, upon request of the
Administrative Agent, execute such financing statements and other documents (and
pay the cost of filing or recording the same in all public offices reasonably
deemed appropriate by the Administrative Agent) and do such other acts and
things (including, without limitation, delivery to the Administrative Agent of
any Instruments or Certificated Securities which constitute Collateral), all as
the Administrative Agent may from time to time reasonably request, to establish
and maintain a valid security interest in the Collateral (free of all other
liens, claims and rights of third parties whatsoever, other than Permitted
Liens) to secure the payment of the Liabilities (and each Debtor hereby
authorizes the Administrative Agent to file any financing statement without its
signature, to the extent permitted by applicable law, and/or to file a copy of
this Agreement as a financing statement in any jurisdiction);
(b)  will keep all its Inventory, and will not maintain any place of
business at any location other than, in the United States; (c)  will
not change its state of organization or incorporation or its name, identity or
corporate structure such that any financing statement filed to perfect the
Administrative Agent’s interests under this Agreement would become seriously
misleading, unless such Debtor shall have given the Administrative Agent not
less than 30 days’ prior notice of such change (provided that this Section 6(c) shall
not be deemed to authorize any change or transaction prohibited under the Credit
Agreement); (d)  will keep its records concerning the Non-Tangible
Collateral in such a manner as will enable the Administrative Agent or its
designees to determine at any time the status of the Non-Tangible Collateral;
(e)  will furnish the Administrative Agent such information concerning
such Debtor, the Collateral and the Account Debtors as the Administrative Agent
may from time to time reasonably request; (f)  will, subject to the
terms of the Credit Agreement, permit the Administrative Agent and its
designees, from time to time, on reasonable notice and at reasonable times and
intervals during normal business hours (or at any time without notice during the
existence of a Default) to inspect such Debtor’s Inventory and other Goods, and
to inspect, audit and make copies of and extracts from all records and all other
papers in the possession of such Debtor pertaining to the Collateral and the
Account Debtors, and will, upon request of the Administrative Agent during the
existence of a Default, deliver to the Administrative Agent all of such records
and papers; (g)  will, upon request of the Administrative Agent, stamp
on its records concerning the Collateral and add on all Chattel Paper
constituting a portion of the Collateral, a notation, in form satisfactory to
the Administrative Agent, of the security interest of the Administrative Agent
hereunder; (h)  except as permitted by the Credit Agreement, will not
sell, lease, assign or create or permit to exist any lien on or security
interest in any Collateral other than Permitted Liens and liens and security
interests in favor of the Administrative Agent; (i)  will at all times
keep all its Inventory and other Goods insured under policies maintained with
reputable, financially sound insurance companies against loss, damage, theft and
other risks to such extent as is customarily maintained by companies similarly
situated, and cause all such policies to provide that loss thereunder shall be
payable to the Administrative Agent as its interest may appear (it being
understood that (A) so long as no Default shall be existing, the Administrative
Agent shall deliver any proceeds of such insurance which may be received by it
to such Debtor and (B) whenever a Default shall be existing, the Administrative
Agent may apply any proceeds of such insurance which may be received by it
toward payment of the Liabilities, whether or not due, in such order of
application as the Administrative Agent may determine) and such policies or
certificates thereof shall, if the Administrative Agent so requests, be
deposited with or furnished to the Administrative Agent; (j)  will
take such actions as are reasonably necessary to keep its Inventory in good
repair and condition, ordinary wear and tear excepted; (k)  will take
such actions as are reasonably necessary to keep its Equipment (other than
obsolete Equipment) in good repair and condition and in good working or running
order, ordinary wear and tear excepted; (l)  will promptly pay when
due all license fees, registration fees, taxes, assessments and other charges
which may be levied upon or assessed against the ownership, operation,
possession, maintenance or use of its Equipment and other Goods (as applicable);
provided, however, that such Debtor shall not be required to pay any such fee,
tax, assessment or other charge if the validity thereof is being contested by
such Debtor in good faith by appropriate proceedings, so long as forfeiture of
any substantial part of its Equipment or other Goods will not result from the
failure of such Debtor to pay any such fee, tax, assessment or other charge
during the period of such contest; (m)  will, upon reasonable request
of the Administrative Agent, (i) cause to be noted on the applicable
certificate, in the event any of its Equipment is covered by a certificate of
title, the security interest of the Administrative Agent in the Equipment
covered thereby and (ii) deliver all such certificates to the Administrative
Agent or its designees; (n)  will take all steps reasonably necessary
to protect, preserve and maintain all of its rights in the Collateral;
(o)  will keep all of the tangible Collateral, Deposit Accounts and
Investment Property in the continental United States; and (p)  will,
promptly upon any Responsible Officer of such Debtor obtaining knowledge that
such Debtor has acquired a commercial tort claim (as defined in Section 9-102 of
the UCC) in excess of $50,000, immediately notify the Administrative Agent in a
writing signed by such Debtor of the details thereof and grant to the
Administrative Agent in such writing a security interest therein and in the
proceeds thereof, with such writing to be in form and substance reasonably
satisfactory to the Administrative Agent.

    
      
         

      

      
        19

        
          

        

      

      
         

      

    

    Each
Debtor hereby authorizes the filing of any financing statement, continuation
statement, and amendment to financing statement in any jurisdiction and with any
filing office as the Administrative Agent may determine, in its sole discretion,
are necessary or advisable to perfect the security interest granted to the
Administrative Agent hereunder or in connection herewith.  Any such
financing statement or amendment may describe the Collateral in the same manner
as described in any security agreement or pledge agreement entered into by the
parties in connection herewith, or may contain an indication or description of
collateral that describes such property in any other manner as the
Administrative Agent may determine, in its sole discretion, is necessary,
advisable or prudent to ensure the perfection of the security interest in the
collateral granted to the Administrative Agent hereunder or in connection
herewith, including, without limitation, describing such property as “all
assets” or “all personal property”, whether now owned or hereafter
acquired.

     

    Any
expenses incurred in protecting, preserving and maintaining any Collateral shall
be borne by the applicable Debtor.  Whenever a Default shall be
existing, the Administrative Agent shall have the right to bring suit to enforce
any or all of the Intellectual Property or licenses thereunder, in which event
the applicable Debtor shall at the request of the Administrative Agent do any
and all lawful acts and execute any and all proper documents required by the
Administrative Agent in aid of such enforcement and such Debtor shall promptly,
upon demand, reimburse and indemnify the Administrative Agent for all reasonable
costs and expenses incurred by the Administrative Agent in the exercise of its
rights under this Section 6, except to
the extent any of the foregoing result from the gross negligence or willful
misconduct of the Administrative Agent.  Notwithstanding the
foregoing, the Administrative Agent shall have no obligations or liabilities
regarding the Collateral or any thereof by reason of, or arising out of, this
Agreement.

    
      
         

      

      
        20

        
          

        

      

      
         

      

    

    7.           Default.  (a)  Whenever
a Default exists, the Administrative Agent may exercise from time to time any
rights and remedies available to it under the UCC, under any other applicable
law and in the subsections set forth below in this Section
7.

     

    (b)  Each
Debtor agrees, in case of Default, (i) to assemble, at its expense, all its
Inventory and other Goods (other than Fixtures) at a convenient place or places
acceptable to the Administrative Agent, and (ii) at the Administrative Agent’s
request, to execute all such documents and do all such other things which may be
necessary in order to enable the Administrative Agent or its nominee to be
registered as owner of the Intellectual Property with any competent registration
authority.

     

    (c)  Each
Debtor hereby agrees and acknowledges that (i) with respect to Collateral that
is: (A) perishable or threatens to decline speedily in value or (B) is of a type
customarily sold on a recognized market (including Investment Property), no
notice of disposition need be given; and (ii) with respect to Collateral not
described in clause
(i) above, notification sent after default and ten days before any
proposed disposition provides notice with a reasonable time before
disposition.

     

    (d)  Each
Debtor hereby agrees and acknowledges that a commercially reasonable disposition
of Inventory, Equipment, Computer Hardware and Software or Intellectual Property
may be by lease or license of, in addition to the sale of, such
Collateral.  Each Debtor further agrees and acknowledges that a
disposition (i) made in the usual manner on any recognized market, (ii) at the
price current in any recognized market at the time of disposition or (iii) in
conformity with reasonable commercial practices among dealers in the type of
property subject to the disposition shall, in each case, be deemed commercially
reasonable.

     

    (e)  Any
cash proceeds of any disposition by the Administrative Agent of any of the
Collateral shall be applied by the Administrative Agent to payment of Costs and
Expenses, and thereafter to the payment of any and all of the Liabilities in
such order of application as the Administrative Agent may from time to time
elect, and thereafter any surplus will be paid to the applicable Debtor or as a
court of competent jurisdiction shall direct.  The Administrative
Agent need not apply or pay over for application noncash proceeds of collection
and enforcement unless (i) the failure to do so would be commercially
unreasonable and (ii) the applicable Debtor has provided the Administrative
Agent with a written demand to apply or pay over such noncash proceeds on such
basis.

    
      
         

      

      
        21

        
          

        

      

      
         

      

    

    8.           General.  The
Administrative Agent shall be deemed to have exercised reasonable care in the
custody and preservation of any of the Collateral in its possession if it takes
such action for that purpose as any applicable Debtor requests in writing, but
failure of the Administrative Agent to comply with any such request shall not of
itself be deemed a failure to exercise reasonable care, and no failure of the
Administrative Agent to preserve or protect any rights with respect to such
Collateral against prior parties, or to do any act with respect to the
preservation of such Collateral not so requested by any Debtor, shall be deemed
a failure to exercise reasonable care in the custody or preservation of such
Collateral.

     

    All
notices and requests hereunder shall be in writing (including facsimile
transmission) and shall be sent (i) if to the Administrative Agent, to its
address shown on Schedule 14.3 to the Credit Agreement or such other address as
it may, by written notice to the Borrower, have designated as its address for
such purpose, and (ii) if to any Debtor, to its address shown on Schedule I hereto or
to such other address as such Debtor may, by written notice to the
Administrative Agent, have designated as its address for such
purpose.  Notices sent by facsimile transmission shall be deemed to
have been given when sent and receipt of such facsimile is confirmed; notices
sent by mail shall be deemed to have been given five Business Days after the
date when sent by registered or certified mail, postage prepaid; and notices
sent by hand delivery or overnight courier shall be deemed to have been given
when received.

     

    No delay
on the part of the Administrative Agent in the exercise of any right or remedy
shall operate as a waiver thereof, and no single or partial exercise by the
Administrative Agent of any right or remedy shall preclude other or further
exercise thereof or the exercise of any other right or remedy.

     

    If any of
the Collateral shall be sold, transferred or otherwise disposed of by any Debtor
in a transaction permitted by the Credit Agreement, then the Administrative
Agent, at the request and sole expense of such Debtor, shall execute and deliver
to such Debtor all releases and other documents reasonably necessary for the
release of Liens created hereby on such Collateral.

     

    This
Agreement shall remain in full force and effect until all Liabilities have been
paid in full (other than contingent indemnification liabilities not yet due and
payable) and all Commitments have terminated.  Upon any such
termination, the Administrative Agent will, upon any Debtor’s request and at
such Debtor’s sole expense, (i) deliver to such Debtor, without any
representation, warranty or recourse of any kind whatsoever (other than there
are no liens, security interests or encumbrances in favor of the Administrative
Agent), all of such Debtor’s Collateral held by the Administrative Agent
hereunder as shall not have been sold or otherwise applied pursuant to the terms
hereof, and (ii) execute and deliver to such Debtor such documents, including
UCC-3 terminations, as such Debtor shall reasonably request to evidence such
termination and the release of the security interest granted
hereby.  If at any time all or any part of any payment theretofore
applied by the Administrative Agent or any Lender Party to any of the
Liabilities is or must be rescinded or returned by the Administrative Agent or
such Lender Party for any reason whatsoever (including, without limitation, the
insolvency, bankruptcy or reorganization of any Debtor), such Liabilities shall,
for the purposes of this Agreement, to the extent that such payment is or must
be rescinded or returned, be deemed to have continued in existence,
notwithstanding such application by the Administrative Agent or such Lender
Party, and this Agreement shall continue to be effective or be reinstated, as
the case may be, as to such Liabilities, all as though such application by the
Administrative Agent or such Lender Party had not been made.

    
      
         

      

      
        22

        
          

        

      

      
         

      

    

    THIS
AGREEMENT IS GOVERNED BY THE LAWS OF THE STATE OF ILLINOIS WITHOUT REGARD TO
PRINCIPLES OF CONFLICTS OF LAW (EXCEPT 735 ILLINOIS COMPILED STATUTE §105/5-5)
except to the extent that, pursuant to Illinois law, the perfection, the effect
of perfection or nonperfection or the priority of any security interest granted
hereunder may be determined in accordance with the laws of a different
jurisdiction. Whenever possible, each provision of this Agreement shall be
interpreted in such manner as to be effective and valid under applicable law,
but if any provision of this Agreement shall be prohibited by or invalid under
applicable law, such provision shall be ineffective to the extent of such
prohibition or invalidity, without invalidating the remainder of such provision
or the remaining provisions of this Agreement.

     

    The
rights and privileges of the Administrative Agent hereunder shall inure to the
benefit of its successors and assigns.

     

    This
Agreement may be executed in any number of counterparts and by the different
parties hereto on separate counterparts, and each such counterpart shall be
deemed to be an original, but all such counterparts shall together constitute
one and the same Agreement.  At any time after the date of this
Agreement, one or more additional persons or entities may become parties hereto
by executing and delivering to the Administrative Agent a counterpart of this
Agreement (including supplements to the Schedules
hereto).  Immediately upon such execution and delivery (and without
any further action), each such additional person or entity will become a party
to, and will be bound by all the terms of, this Agreement.

     

    ANY
LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS
AGREEMENT OR ANY OTHER LOAN DOCUMENT, SHALL BE BROUGHT AND MAINTAINED
EXCLUSIVELY IN THE COURTS OF THE STATE OF ILLINOIS OR IN THE UNITED STATES
DISTRICT COURT FOR THE NORTHERN DISTRICT OF ILLINOIS; PROVIDED, HOWEVER, THAT ANY
SUIT SEEKING ENFORCEMENT AGAINST ANY COLLATERAL OR OTHER PROPERTY MAY BE
BROUGHT, AT THE ADMINISTRATIVE AGENT’S OPTION, IN THE COURTS OF ANY JURISDICTION
WHERE SUCH COLLATERAL OR OTHER PROPERTY MAY BE FOUND.  EACH DEBTOR
HEREBY EXPRESSLY AND IRREVOCABLY SUBMITS TO THE JURISDICTION OF THE COURTS OF
THE STATE OF ILLINOIS AND OF THE UNITED STATES DISTRICT COURT FOR THE NORTHERN
DISTRICT OF ILLINOIS FOR THE PURPOSE OF ANY SUCH LITIGATION AS SET FORTH
ABOVE.  EACH DEBTOR FURTHER IRREVOCABLY CONSENTS TO THE SERVICE OF
PROCESS BY REGISTERED MAIL, POSTAGE PREPAID, TO THE ADDRESS OF ITS CHIEF
EXECUTIVE OFFICE SET FORTH ON SCHEDULE I HERETO (OR
SUCH OTHER ADDRESS AS IT SHALL HAVE SPECIFIED IN WRITING TO THE ADMINISTRATIVE
AGENT AS ITS ADDRESS FOR NOTICES HEREUNDER) OR BY PERSONAL SERVICE WITHIN OR
WITHOUT THE STATE OF ILLINOIS.  EACH DEBTOR HEREBY EXPRESSLY AND
IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION WHICH
IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUCH LITIGATION
BROUGHT IN ANY SUCH COURT REFERRED TO ABOVE AND ANY CLAIM THAT ANY SUCH
LITIGATION HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.

    
      
         

      

      
        23

        
          

        

      

      
         

      

    

    EACH
OF EACH DEBTOR, THE ADMINISTRATIVE AGENT AND (BY ACCEPTING THE BENEFITS HEREOF)
EACH LENDER PARTY HEREBY WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION OR
PROCEEDING TO ENFORCE OR DEFEND ANY RIGHTS UNDER THIS AGREEMENT OR ANY OTHER
LOAN DOCUMENT AND ANY AMENDMENT, INSTRUMENT, DOCUMENT OR AGREEMENT DELIVERED OR
WHICH MAY IN THE FUTURE BE DELIVERED IN CONNECTION HEREWITH OR THEREWITH OR
ARISING FROM ANY FINANCING RELATIONSHIP EXISTING IN CONNECTION WITH ANY OF THE
FOREGOING, AND AGREES THAT ANY SUCH ACTION OR PROCEEDING SHALL BE TRIED BEFORE A
COURT AND NOT BEFORE A JURY.  EACH DEBTOR ACKNOWLEDGES AND AGREES THAT
IT HAS RECEIVED FULL AND SUFFICIENT CONSIDERATION FOR THIS PROVISION (AND EACH
OTHER PROVISION OF EACH OTHER LOAN DOCUMENT TO WHICH IT IS A PARTY) AND THAT
THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE ADMINISTRATIVE AGENT, FOR THE
BENEFIT OF THE LENDER PARTIES, ENTERING INTO THIS AGREEMENT AND EACH SUCH OTHER
LOAN DOCUMENT.

     

    [REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]

    
      
         

      

      
        24

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, this Agreement has been duly executed as of the day and year
first above written.

     

    THE
MIDDLEBY CORPORATION

    MIDDLEBY
MARSHALL INC.

    MIDDLEBY
WORLDWIDE, INC.

    BLODGETT
HOLDINGS INC.

    G.S.
BLODGETT CORPORATION

    PITCO
FRIALATOR, INC.

    MAGIKITCH’N
INC.

    CLOVERLEAF
PROPERTIES, INC.

    

    By:        /s/
David B.
Baker                

    Name:      David
B. Baker
                 

    Title:
       Vice
President                    

    

    BANK OF
AMERICA, N.A., as Administrative Agent

    

    By:        /s/
David A.
Johanson          

    Name:      David
A.
Johanson            

    Title:
       Vice
President                     

    
      
         

      

      
        S-1

        
          

        

      

      
         

      

    

    Signature
page for the Security Agreement dated as of December 21, 2001 among The Middleby
Corporation, Middleby Marshall Inc. (the “Borrower”), various subsidiaries of
the Borrower and Bank of America, N.A., as Administrative Agent (as defined in
the Credit Agreement dated as of December 21, 2001 among the Borrower and
various other parties)

    

    The
undersigned is executing a counterpart hereof for purposes of becoming a party
to the Security Agreement as of the date set forth below (and each of the
undersigned has attached hereto supplements to the Schedules to the Security
Agreement setting forth all information necessary to make the representations
and warranties set forth in the Security Agreement with respect to such
undersigned accurate as of the date set forth below)

    

    [SUBSIDIARY]

    

    By:__________________________________

    Name
Printed:_____________________________

    Title:__________________________________

    
      
         

      

      
        S-2

        
          

        

      

      
         

      

    

    

    SCHEDULE
I

    TO
SECURITY AGREEMENT

    

    ORGANIZATION
INFORMATION

    

    
      
        
          
            	
                    True and Correct

                    Name of Debtor

                  	 
      	
                    Type of

                    Organization

                  	 
      	
                    Jurisdiction of

                    Organization/

                    Formation

                  	 
      	
                    Federal

                    Employment

                    Number

                  	 
      	
                    State

                    Organiza-

                    tional

                    Identifcation

                    Number

                  	 
      	
                    Chief

                    Executive Office

                  	 
      	
                    Principal Place of Business

                  
	
                    The
      Middleby Corporation

                  	 
      	
                    Corporation

                  	 
      	
                    Delaware

                  	 
      	
                    36-3352497

                  	 
      	
                    2056754

                  	 
      	
                    1400
      Toastmaster Dr.

                    Elgin,
      Illinois 60120

                  	 
      	
                    1400
      Toastmaster Dr.

                    Elgin,
      Illinois 60120

                  
	
                    Middleby
      Marshall Inc.

                  	 
      	
                    Corporation

                  	 
      	
                    Delaware

                  	 
      	
                    58-1315813

                  	 
      	
                    0850027

                  	 
      	
                    1400
      Toastmaster Dr.

                    Elgin,
      Illinois 60120

                  	 
      	
                    1400
      Toastmaster Dr.

                    Elgin,
      Illinois 60120

                  
	
                    Middleby
      Worldwide Inc.

                  	 
      	
                    Corporation

                  	 
      	
                    Florida

                  	 
      	
                    65-0033271

                  	 
      	
                    J97196

                  	 
      	
                    1400
      Toastmaster Dr.

                    Elgin,
      Illinois 60120

                  	 
      	
                    1400
      Toastmaster Dr.

                    Elgin,
      Illinois 60120

                  
	
                    Blodgett
      Holdings, Inc.

                  	 
      	
                    Corporation

                  	 
      	
                    Delaware

                  	 
      	
                    03-0318368

                  	 
      	
                    2176467

                  	 
      	
                    50
      Lakeside Avenue

                    Burlington,
      Vermont 05401

                  	 
      	
                    50
      Lakeside Avenue

                    Burlington,
      Vermont 05401

                  
	
                    G.S.
      Blodgett Corporation

                  	 
      	
                    Corporation

                  	 
      	
                    Vermont

                  	 
      	
                    42-0401785

                  	 
      	
                    V-027080-0

                  	 
      	
                    50
      Lakeside Avenue

                    Burlington,
      Vermont 05401

                  	 
      	
                    50
      Lakeside Avenue

                    Burlington,
      Vermont 05401

                  
	
                    Pitco
      Frialator, Inc.

                  	 
      	
                    Corporation

                  	 
      	
                    New
      Hampshire

                  	 
      	
                    02-0358971

                  	 
      	
                    N/A

                  	 
      	
                    509
      Route 3A

                    Bow,
      New Hampshire 03304

                  	 
      	
                    509
      Route 3A

                    Bow,
      New Hampshire 03304

                  
	
                    Magikitch'n
      Inc.

                  	 
      	
                    Corporation

                  	 
      	
                    Pennsylvania

                  	 
      	
                    23-2385964

                  	 
      	
                    898777

                  	 
      	
                    50
      Lakeside Avenue

                    Burlington,
      Vermont 05401

                  	 
      	
                    50
      Lakeside Avenue

                    Burlington,
      Vermont 05401

                  
	
                    Cloverleaf
      Properties, Inc.

                  	
                      

                  	
                    Corporation

                  	
                      

                  	
                    Vermont

                  	
                      

                  	
                    03-0305628

                  	
                      

                  	
                    V-40029-0

                  	
                      

                  	
                    50
      Lakeside Avenue

                    Burlington,
      Vermont 05401

                  	
                      

                  	
                    50
      Lakeside Avenue

                    Burlington,
      Vermont 05401

                  

          

        

      

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    SCHEDULE
II

    TO
SECURITY AGREEMENT

    

    ADDRESSES OF LOCATIONS AT
WHICH GOODS ARE LOCATED

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            	
                                    Debtor/Grantor

                                  	 
      	
                                    Address/City/State

                                  
	 	 	 
	
                                    Middleby
      Marshall Inc.

                                  	 
      	
                                    1400
      Toastmaster Drive

                                    Elgin,
      Illinois

                                  
	 	 	 
	
                                    Middleby
      Marshall Inc.

                                  	 
      	
                                    1100
      Old Honeycutt Road

                                    Fuquay-Varina,
      North Carolina

                                  
	 	 	 
	
                                    Cloverleaf
      Properties, Inc.

                                  	 
      	
                                    42-44-50
      Lakeside Avenue

                                    Burlington,
      Vermont

                                  
	 	 	 
	
                                    G.S.
      Blodgett Corporation

                                  	 
      	
                                    55
      Boyer Circle

                                    Williston,
      Vermont

                                         

                                    50
      Lakeside Avenue

                                    Burlington,
      Vermont

                                  
	 	 	 
	
                                    Cloverleaf
      Properties, Inc.

                                  	 
      	
                                    Harbor
      Road

                                    Shelburne,
      Vermont

                                  
	 	 	 
	
                                    Cloverleaf
      Properties, Inc.

                                  	 
      	
                                    Junction
      Routes 89 & 93

                                    Bow,
      New Hampshire

                                  
	 	 	 
	
                                    Pitco
      Frialator, Inc.

                                  	 
      	
                                    The
      Concord Center,

                                    Suite
      101, Suite 105

                                    Concord,
      New Hampshire

                                  
	 	 	 
	
                                    Pitco
      Frialator, Inc.

                                  	 
      	
                                    509
      Route 3A

                                    Bow,
      New Hampshire

                                  
	 	 	 
	
                                    Pitco
      Frialator, Inc.

                                  	 
      	
                                    Parking
      Lot

                                    Bow,
      New Hampshire

                                  
	 	 	 
	
                                    Magikitch'n
      Inc.

                                  	 
      	
                                    509
      Route 3A

                                    Bow,
      New
Hampshire

                                  

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    SCHEDULE
III

    TO
SECURITY AGREEMENT

    

    TRADE
NAMES

    

    See
registered trademarks listed on Schedule IV hereto.

    

    Series
600

    Vario-Steam

    ASAP

    Solstice

    Synergy

    Smart
Generation

    MagiGrill

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    SCHEDULE
IV

    TO
SECURITY AGREEMENT

    

    LIST OF INTELLECTUAL
PROPERTY

     

    Patents:

    

    
      	
              Patent Name

            	 
      	
              Patent Number

            	 
      	
              Date of Patent

            
	
              Transportable
      Cart

            	 
      	
              Des.
      292,339

            	 
      	
              Oct.
      13, 1987

            
	
              Transportable
      Cart

            	 
      	
              Des.
      292,838

            	 
      	
              Nov.
      17, 1987

            
	
              Dual
      Flow Heating Apparatus

            	 
      	
              4,395,233

            	 
      	
              Jul.
      26, 1983

            
	
              Tunnel
      Heater

            	 
      	
              4,471,750

            	 
      	
              Sep.
      18, 1984

            
	
              Continuous
      Fryer for Potato Chips and Other Snack Foods

            	 
      	
              4,488,478

            	 
      	
              Dec.
      18, 1984

            
	
              Dual
      Flow Heating Apparatus

            	 
      	
              4,516,012

            	 
      	
              May
      7, 1985

            
	
              Tunnel
      Heater

            	 
      	
              4,576,090

            	 
      	
              Mar.
      18, 1986

            
	
              Potato
      Slicer

            	 
      	
              4,546,684

            	 
      	
              Oct.
      15, 1985

            
	
              Conveyor
      Oven

            	 
      	
              4,960,100

            	 
      	
              Oct.
      2, 1990

            
	
              Infra-Red
      Baking Oven

            	 
      	
              4,960,977

            	 
      	
              Oct.
      2, 1990

            
	
              Cooking
      Apparatus for Producing Grill Stripes on Cooked Products

            	 
      	
              5,044,264

            	 
      	
              Sep.
      3, 1991

            
	
              Dough
      Proofing Chamber

            	 
      	
              5,072,666

            	 
      	
              Dec.
      17, 1991

            
	
              High
      Velocity Conveyor Oven

            	 
      	
              5,180,898

            	 
      	
              Jan.
      19, 1993

            
	
              Method
      for Cooking Food in an Infra-Red Conveyor Oven

            	 
      	
              5,223,290

            	 
      	
              Jun.
      29, 1993

            
	
              Conveyor
      Oven with Uniform Air Flow

            	 
      	
              5,231,920

            	 
      	
              Aug.
      3, 1993

            
	
              Infra-Red
      Deep Fat Fryer

            	 
      	
              5,253,566

            	 
      	
              Oct.
      19, 1993

            
	
              Conveyor
      Oven with Improved Air Flow

            	 
      	
              5,421,316

            	 
      	
              Jun.
      6, 1995

            
	
              Ventilated
      Cooking Oven

            	 
      	
              5,421,317

            	 
      	
              Jun.
      6, 1995

            
	
              Belt
      Cooking Apparatus

            	 
      	
              5,458,051

            	 
      	
              Oct.
      17, 1995

            
	
              Convection
      Oven with Power Induced Back Draft Flow

            	 
      	
              5,497,760

            	 
      	
              Mar.
      12, 1996

            
	
              Belt
      Stabilizer for Pinch Belt Conveyor

            	 
      	
              5,507,382

            	 
      	
              Apr.
      16, 1996

            
	
              Modular
      Food Service Kiosk

            	 
      	
              5,572,984

            	 
      	
              Nov.
      12, 1996

            
	
              Gas
      Fired Deep Fat Fryer

            	 
      	
              5,577,438

            	 
      	
              Nov.
      26, 1996

            
	
              Frying
      Apparatus Filter System

            	 
      	
              5,582,093

            	 
      	
              Dec.
      10, 1996

            
	
              Steam
      Control for Combination Oven and Steamer

            	 
      	
              5,951,901

            	 
      	
              Sep.
      14, 1999

            
	
              Combination
      Steamer and Convection Oven with Double Doors

            	 
      	
              5,988,154

            	 
      	
              Nov.
      23,1999

            
	
              High
      Efficient Convection Fryer with Continuous Filtration

            	 
      	
              6,095,037

            	 
      	
              Aug.
      1, 2000

            
	
              Burner
      Mounting Assembly for a Deep Fat Fryer

            	 
      	
              6,152,022

            	 
      	
              Nov.
      28, 2000

            
	
              Efficient
      Frying Apparatus

            	
                

            	
              6,196,118

            	
                

            	
              Mar.
      6, 2001

            

    

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    

    Patent
Applications:

    
      	
              SN

            	 
      	
              FILED

            	 
      	
              TITLE

            
	
              09/511,377

            	 
      	
              2-23-2000

            	 
      	
              High
      efficient convection fryer with continuous filtration.

            
	
              09/821,801

            	 
      	
              3-30-2001

            	 
      	
              Filter
      system for a deep fat fryer.

            

    

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    

    
      	
              Foreign
      Patents:

            	 
      
	
              U.S.
      4,395,233 - Dual Flow Heating Apparatus

               

            	 
      
	 
      	
              Canada
      – Pat. No. 1,166,105

            	 
      
	 
      	
              United
      Kingdom – Pat. No. 67951

            	 
      
	 
      	 
      	 
      
	
              U.S.
      5,044,264 – Cooking Apparatus for Producing Grill Stripes on Cooked
      Products

            
	 
      
	 
      	
              Canada
      – Pat. No. 2,079,097

            
	 
      	
              Europe
      – Pat. No. 0531456

            
	 
      	 
      	
              Designated
      countries in Europe:

            	
              Austria

            
	 
      	 
      	 
      	
              Belgium

            
	 
      	 
      	 
      	
              Denmark

            
	 
      	 
      	 
      	
              France

            
	 
      	 
      	 
      	
              Germany

            
	 
      	 
      	 
      	
              Greece

            
	 
      	 
      	 
      	
              Italy

            
	 
      	 
      	 
      	
              Luxembourg

            
	 
      	 
      	 
      	
              Netherlands

            
	 
      	 
      	 
      	
              Spain

            
	 
      	 
      	 
      	
              Sweden

            
	 
      	 
      	 
      	
              United
      Kingdom

            
	 
      	 
      	 
      	 
      
	
              U.S.
      5,421,317 – Ventilated Cooking Oven

            	 
      
	 
      	 
      	 
      	 
      
	 
      	
              Australia
      – Pat. No. 682273

            	 
      
	 
      	
              Canada
      – Pat. No. 2,197,886

            	 
      
	 
      	
              Europe
      – Pat. No. 0779964

            	 
      
	 
      	 
      	
              Designated
      countries in Europe:

            	
              France

            
	 
      	 
      	 
      	
              Germany

            
	 
      	 
      	 
      	
              United
      Kingdom

            
	 
      	
              Singapore
      – Appl. No. 9700875-9

            	 
      
	 
      	 
      	 
      	 
      
	
              U.S.
      5,458,051 – Belt Cooking Apparatus

            	 
      
	 
      	 
      	 
      	 
      
	 
      	
              Australia
      – Pat. No. 683096

            	 
      
	 
      	
              Canada
      – Pat. No. 2,136,385

            	 
      
	 
      	
              Europe
      – Pat. No. 655215

            	 
      
	 
      	 
      	
              Designated
      countries in Europe:

            	
              France

            
	 
      	 
      	 
      	
              Germany

            
	 
      	 
      	 
      	
              United
      Kingdom

            

    

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    

    Trademarks:

    See list
of Trademarks attached hereto.

    License
Agreements:

    G. S. Blodgett and J. Curtin Pty.
Limited (In-Vent)—Blodgett owns US Patent 5,421,317 and Australian Patent
682273. The agreement, dated July 24, 1997, calls for a minimum payment of
$7500.00 per year after 1998 for the life of the Australian patent which expires
on June 13, 2015. There is also a royalty free Trademark agreement that expires
simultaneously with the Technology License agreement.

     

    G. S. Blodgett and Thermo Power
Corporation—Thermo Power licenses Blodgett to use the technology of U. S.
Patent 4,671,250 for Non-self-cleaning Convection Oven. The date of the
agreement is March 1, 1994 and terminates on June 1, 2004 when the patent
expires. From 1997 through 2003 the minimum royalty is to be
$15,000.

     

    G.S. Blodgett and William H.
Gill—The license is effective on September 16, 1994. Gill licenses
Blodgett to manufacture and sell an Omelet Cooking Device, U. S. Patent
4,704,956 for a lump sum of $7,500.00 plus 5% of the Net Invoice Price of the
device until the patent expires on November 10, 2004.

     

    Gas Research Institute and G. S.
Blodgett—The subject matter of the agreement is the development of a Gas
Fired Reconstituting, combination Steam/Convection Oven. The agreement is dated
July 28, 1993 and extends to the expiration of the last of the licensed patents
that were developed under the agreement. Royalty was to be 2% of net sales until
$400,000 was paid and then 1% of net sales.

     

    Pitco Frialator, Inc. and Southern
California Gas—The subject matter of the agreement is the development of
an Advanced Gas-Fired Commercial Fryer. The agreement is dated August 31, 1994
and terminates when $400,000.00 in royalties are accumulated or 10 years from
the date of first commercial sale.

     

    Pitco Frialator, Inc. and
GTI—Pitco is to pay royalties of $4.00 per fryer for all Solstice fryers
sold through December 31, 2005. On the counter version of the fryer designed for
a kiosk setting the royalty is $25.00 per fryer.

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    Schedule
IV

    

    
      
        	
                TM
      Rights (Grouped by country) + Status

              	
                Report
      Date 7/6/01

              

      

    

    

    
      
        
          
            	
                    Country

                  	
                    Australia

                  	 
      	 
      	 
      	 
      	 
      	 
      
	
                    ID

                  	
                    Mark

                  	 	
                    Classes

                  	
                    Reg.
      Owner

                  	
                    App.
      #

                  	
                    App.
      Dt.

                  	
                    Reg.
      #

                  	
                    Reg.
      Dt.

                  	
                    Status

                  
	
                    15079

                  	
                    IN
      VENT

                  	 	
                    11

                  	
                    G.S.
      BLODGETT CORP.

                  	
                    735641

                  	
                    5/30/97

                  	
                    735641

                  	
                    5/30/97

                  	
                    REGISTERED

                  

          

        

      

    

    

    
      
        
          
            	
                    Country

                  	
                    European
      Union

                  	 
      	 
      	 
      	 
      	 
      	 
      
	
                    ID

                  	
                    Mark

                  	 	
                    Classes

                  	
                    Reg.
      Owner

                  	
                    App.
      #

                  	
                    App.
      Dt.

                  	
                    Reg.
      #

                  	
                    Reg.
      Dt.

                  	
                    Status

                  
	
                    15276

                  	
                    BLODGETT

                  	 	
                    7,
      9, 11

                  	
                    G.S.
      BLODGETT CORP.

                  	
                    1559970

                  	
                    3/15/00

                  	 
      	 
      	
                    Pending
      Application

                  

          

        

      

    

    

    
      
        
          
            	
                    Country

                  	
                    France

                  	 
      	 
      	 
      	 
      	 
      	 
      
	
                    ID

                  	
                    Mark

                  	 	
                    Classes

                  	
                    Reg.
      Owner

                  	
                    App.
      #

                  	
                    App.
      Dt.

                  	
                    Reg.
      #

                  	
                    Reg.
      Dt.

                  	
                    Status

                  
	
                    15051

                  	
                    BLODGETT

                  	 	
                    11

                  	
                    G.S.
      BLODGETT CORP.

                  	
                    93463111

                  	
                    4/2/93

                  	
                    9346111

                  	
                    4/2/93

                  	
                    REGISTERED

                  

          

        

      

    

    

    
      
        
          
            	
                    Country

                  	
                    Japan

                  	 
      	 
      	 
      	 
      	 
      	 
      
	
                    ID

                  	
                    Mark

                  	 	
                    Classes

                  	
                    Reg.
      Owner

                  	
                    App.
      #

                  	
                    App.
      Dt.

                  	
                    Reg.
      #

                  	
                    Reg.
      Dt.

                  	
                    Status

                  
	
                    15054

                  	
                    BLODGETT

                  	 	
                    9

                  	
                    G.S.
      BLODGETT CORP.

                  	
                    55-84564

                  	
                    10/21/80

                  	
                    1713903

                  	
                    9/20/94

                  	
                    REGISTERED

                  
	
                    15289

                  	
                    BLODGETT

                  	 	
                    11

                  	
                    G.S.
      BLODGETT CORP.

                  	
                    200051130

                  	
                    6/8/90

                  	 
      	 
      	
                    Pending
      Application

                  

          

        

      

    

    

    
      
        
          
            	
                    Country

                  	
                    Taiwan

                  	 
      	 
      	 
      	 
      	 
      	 
      
	
                    ID

                  	
                    Mark

                  	 	
                    Classes

                  	
                    Reg.
      Owner

                  	
                    App.
      #

                  	
                    App.
      Dt.

                  	
                    Reg.
      #

                  	
                    Reg.
      Dt.

                  	
                    Status

                  
	
                    15053

                  	
                    BLODGETT

                  	 	
                    97

                  	
                    G.S.
      BLODGETT CORP.

                  	
                    225060

                  	
                    10/16/83

                  	
                    225060

                  	
                    10/16/93

                  	
                    REGISTERED

                  

          

        

      

    

    

    
      
        
          
            
              	
                      Country

                    	
                      United
      Kingdom

                    	 
      	 
      	 
      	 
      	 
      	 
      
	
                      ID

                    	
                      Mark

                    	 	
                      Classes

                    	
                      Reg.
      Owner

                    	
                      App.
      #

                    	
                      App.
      Dt.

                    	
                      Reg.
      #

                    	
                      Reg.
      Dt.

                    	
                      Status

                    
	
                      15052

                    	
                      BLODGETT

                    	 	
                      11

                    	
                      G.S.
      BLODGETT CORP.

                    	
                      1147185

                    	
                      12/15/82

                    	
                      1187185

                    	
                      12/15/89

                    	
                      REGISTERED

                    

            

          

        

      

    

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    

    
      
        
          
            
              
                	
                        Country

                      	
                        United
      States

                      	 
      	 
      	 
      	 
      	 
      	 
      
	
                        ID

                      	
                        Mark

                      	 	
                        Classes

                      	
                        Reg.
      Owner

                      	
                        App.
      #

                      	
                        App.
      Dt.

                      	
                        Reg.
      #

                      	
                        Reg.
      Dt.

                      	
                        Status

                      
	
                        15431

                      	
                        ZEPHAIRE

                      	 	
                        11

                      	
                        G.S.
      BLODGETT CORP.

                      	
                        76231771

                      	
                        3/28/01

                      	 
      	 
      	
                        Pending
      Application

                      
	
                        15048

                      	
                        BLODGETT

                      	 	
                        11

                      	
                        G.S.
      BLODGETT CORP.

                      	
                        444749

                      	
                        6/23/81

                      	
                        391399

                      	
                        11/4/81

                      	
                        REGISTERED

                      
	
                        15071

                      	
                        BLODGETT
      COMBI

                      	 	
                        11

                      	
                        G.S.
      BLODGETT CORP.

                      	
                        74/442297

                      	
                        9/30/93

                      	
                        1856690

                      	
                        10/4/94

                      	
                        REGISTERED

                      
	
                        15078

                      	
                        INTELLITOUCH

                      	 	
                        9

                      	
                        G.S.
      BLODGETT CORP.

                      	
                        73/660959

                      	
                        5/15/87

                      	
                        1463906

                      	
                        12/15/87

                      	
                        REGISTERED

                      
	
                        15080

                      	
                        IN-VENT

                      	 	
                        11

                      	
                        G.S.
      BLODGETT CORP.

                      	
                        74/635062

                      	
                        2/15/95

                      	
                        2025982

                      	
                        12/24/96

                      	
                        REGISTERED

                      

              

            

          

        

      

    

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    

    
      
        	
                TM
      Rights (Grouped by country) + Status

              	
                Report
      Date 7/6/01

              

      

    

    

    
      
        
          
            
              
                
                  
                    
                      
                        	
                                ID

                              	
                                Mark

                              	
                                Classes

                              	 	
                                Reg.
      Owner

                              	
                                App.
      #

                              	
                                App.
      Dt.

                              	
                                Reg.
      #

                              	
                                Reg.
      Dt.

                              	
                                Status

                              
	
                                15093

                              	
                                MASTER-THERM

                              	
                                11

                              	 	
                                G.S.
      BLODGETT CORP.

                              	
                                713742

                              	
                                2/29/88

                              	
                                1505742

                              	
                                9/27/83

                              	
                                REGISTERED

                              
	 	 	 	 	 	 	 	 	 	 
	
                                15107

                              	
                                PULSE
      PLUS

                              	
                                11

                              	 	
                                G.S.
      BLODGETT CORP.

                              	
                                607318

                              	
                                7/1/86

                              	
                                1426180

                              	
                                1/27/87

                              	
                                REGISTERED

                              
	 	 	 	 	 	 	 	 	 	 
	
                                15109

                              	
                                VARIO
      STEAM

                              	
                                11

                              	 	
                                G.S.
      BLODGETT CORP.

                              	
                                758513

                              	
                                10/19/88

                              	
                                1549042

                              	
                                7/25/89

                              	
                                REGISTERED

                              
	 	 	 	 	 	 	 	 	 	 
	
                                15110

                              	
                                ZEPHAIRE
      (Stylized)

                              	
                                1

                              	 	
                                G.S.
      BLODGETT CORP.

                              	
                                72/358272

                              	
                                4/29/70

                              	
                                910669

                              	
                                3/30/91

                              	
                                PENDING

                              
	 	 	 	 	 	 	 	 	 	 
	
                                15114

                              	
                                FAT
      VAT

                              	
                                12

                              	 	
                                G.S.
      BLODGETT CORP.

                              	
                                73/554902

                              	
                                10/22/85

                              	
                                1406321

                              	
                                8/19/86

                              	
                                REGISTERED

                              
	 	 	 	 	 	 	 	 	 	 
	
                                15273

                              	
                                SMART
      GENERATION & DESIGN

                              	
                                11

                              	 	
                                G.S.
      BLODGETT CORP.

                              	
                                75/900744

                              	
                                1/20/00

                              	 
      	 
      	
                                Pending
      Application

                              
	 	 	 	 	 	 	 	 	 	 
	
                                15292

                              	
                                MAGIGRILL

                              	
                                11

                              	 	
                                G.S.
      BLODGETT CORP.

                              	
                                76/044786

                              	
                                5/9/00

                              	 
      	 
      	
                                Pending
      Application

                              

                      

                    

                  

                

              

            

          

        

      

    

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    

    
      
        	
                TM
      Rights (Grouped by country) + Status + Goods

              	
                Report
      Date 7/6/01

              

      

    

    

    
      	
              Country

            	 
      	
              Australia

            	 
      	 
      	 
      	 
      	 
      	 
      
	
              ID

            	
              Mark

            	
              Reg.
      Owner

            	
              App.
      #

            	
              Reg.
      #

            	
              Status

            	
              Classes

            	
              Goods
      & Services

            
	
              15079

            	
              IN-VENT

            	
              G.S.
      BLODGETT CORP.

            	
              735641

            	
              735641

            	
              REGISTERED

            	
              11

            	
              Ventilator
      hood enclosures for conveyor oven

            

    

    

    
      
        
          	
                  Country

                	 
      	
                  European
      Union

                	 
      	 
      	 
      	 
      	 
      
	
                  ID

                	
                  Mark

                	
                  Reg.
      Owner

                	
                  App.
      #

                	
                  Reg.
      #

                	
                  Status

                	
                  Classes

                	
                  Goods
      & Services

                
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      

        

      

    

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

    

    
      
        	
                TM
      Rights (Grouped by country) + Status + Goods

              	
                Report
      Date 7/6/01

              

      

    

    

    
      	
              15276

            	
              BLODGETT

            	
              G.S.
      BLODGETT CORP.

            	
              1559970

            	
              Pending
      Application 7.9.11

            	
              Domestic,
      kitchen and household electrical appliances, instruments and machines,
      included in Class 7; apparatus, instruments and machines for washing,
      drying or laundry purposes; vacuum cleaners and cleaning apparatus,
      instruments and machines included in Class 7; washing and polishing
      machines, apparatus and instruments; polishing apparatus, instruments and
      machines; irons and ironing apparatus, instruments and machines;
      dishwashers, compaction and waste disposal apparatus, instruments and
      machines; dust exhausting and removing installations; cleaning appliances
      utilizing steam; carpet shampooing machines and apparatus; parts and
      fittings for all the aforesaid goods.

            
	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	
              Domestic,
      kitchen and household electrical appliances, instruments and machines
      included in Class 9, cleaning apparatus, instruments and machines included
      in Class 9; electric irons; refrigerated vending apparatus, instruments
      and machines; refrigerated vending beverage dispensing apparatus,
      instruments and machines; apparatus and instruments for dispensing ice and
      chilled beverages; sound on video recording or reproducing apparatus and
      instruments; radio, television, speakers; camera; remote control apparatus
      and instruments; communication, transmitting and receiving apparatus and
      instruments; antennas, amplifiers; magnetic tapes and cassettes for use
      therewith; dry cells and batteries; transmission lines and electric cables
      and connectors for use therewith; vending machines, apparatus and
      instruments; computer apparatus in Class 9; computer software and computer
      programs; parts and fittings for all the aforesaid
  goods.

            

    

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

    

    
      
        	
                TM
      Rights (Grouped by country) + Status + Goods

              	
                Report
      Date 7/6/01

              

      

    

    

    
      
        	 
      	 
      	 
      	 
      	 
      	
                Domestic,
      kitchen and household electrical apparatus, instruments and machines
      included in Class 11; fans; apparatus, instruments, machines and
      installations for cooking, refrigerating, drying, heating, cooling,
      freezing; refrigerated cabinets; apparatus and instruments for dispensing
      ice and chilled beverages; ventilating and air conditioning apparatus,
      instruments and installations; extractor hoods for kitchens; gas and
      electric ranges, stoves and ovens; hobs; cook tops and cooking surfaces;
      water coolers and heaters; microwave ovens; electrically driven barbecue
      units for electric stoves; humidifiers, dehumidifiers, water purifying
      apparatus and machines and installation;  water filtering
      apparatus; water softening apparatus and installations, water sterilizers;
      parts and fittings for all the aforesaid
goods.

              

      

    

    
      
         

      

      
        15

        
          

        

      

      
         

      

    

    

    
      	
              Country

            	 
      	
              France

            	 
      	 
      	 
      	 
      	 
      	 
      
	
              ID

            	
              Mark

            	
              Reg.
      Owner

            	
              App.
      #

            	
              Reg.
      #

            	
              Status

            	
              Classes

            	
              Goods
      & Services

            
	
              15051

            	
              BLODGETT

            	
              G.S.
      BLODGETT CORP.

            	
              93:463111

            	
              93463111

            	
              REGISTERED

            	
              11

            	
              Baking
      and roasting ovens

            

    

    
      
         

      

      
        16

        
          

        

      

      
         

      

    

    

    
      
        	
                TM
      Rights (Grouped by country) + Status + Goods

              	
                Report
      Date 7/6/01

              

      

    

    

    
      	
              Country

            	 
      	
              Japan

            	 
      	 
      	 
      	 
      	 
      	 
      
	
              ID

            	
              Mark

            	
              Reg.
      Owner

            	
              App.
      #

            	
              Reg.
      #

            	
              Status

            	
              Classes

            	
              Goods
      & Services

            
	
              15054

            	
              BLODGETT

            	
              G.S.
      BLODGETT CORP.

            	
              55-84564

            	
              1713903

            	
              REGISTERED

            	
              9

            	
              Gas
      convection ovens for commercial use.

            
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              15289

            	
              BLODGETT

            	
              G.S.
      BLODGETT CORP.

            	
              2000/51130

            	 
      	
              Pending
      Application

            	
              11

            	
              Domestic,
      kitchens and household electric apparatus, instruments and machines
      included in Class 11; fans; apparatus, instruments, machines and
      installations for cooking, refrigerating, drying, heating, cooling,
      freezing; refrigerated cabinets; apparatus and instruments for dispensing
      ice and chilled beverages; ventilating and air conditioning apparatus,
      instruments and installations; extractor hoods for kitchens; gas and
      electric ranges,  stoves and ovens; hobs, cook tops and cooking
      surfaces; water coolers and heaters, microwave ovens; electrically driven
      barbecue units for electric stoves; humidifiers, dehumidifiers; water
      purifying apparatus and machines and installations; water filtering
      apparatus; water softening apparatus and installations; water sterilizers;
      parts and listings for all the aforesaid
goods.

            

    

    
      
         

      

      
        17

        
          

        

      

      
         

      

    

    

    
      
        	
                TM
      Rights (Grouped by country) + Status + Goods

              	
                Report
      Date 7/6/01

              

      

    

    

    
      
        
          
            	
                    Country

                  	 
      	
                    Taiwan

                  	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                    ID

                  	 
      	
                    Mark

                  	 
      	
                    Reg.
      Owner

                  	 
      	
                    App.
      #

                  	 
      	
                    Reg.
      #

                  	 
      	
                    Status

                  	 
      	
                    Classes

                  	 
      	
                    Goods
      & Services

                  
	
                    15053

                  	
                      

                  	
                    BLODGETT

                  	
                      

                  	
                    G.S.
      BLODGETT CORP.

                  	
                      

                  	
                    225060

                  	
                      

                  	
                    225060

                  	
                      

                  	
                    REGISTERED

                  	
                      

                  	
                    97

                  	
                      

                  	
                    Water
      heaters, gas ovens, electric ovens, electronic ovens, gas stoves and
      warmers, and all other goods belong to this
  class.

                  

          

        

      

    

    

    
      
        
          	
                  Country

                	 
      	
                  United
      Kingdom

                	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                  ID

                	 
      	
                  Mark

                	 
      	
                  Reg.
      Owner

                	 
      	
                  App.
      #

                	 
      	
                  Reg.
      #

                	 
      	
                  Status

                	 
      	
                  Classes

                	 
      	
                  Goods
      & Services

                
	
                  15052

                	
                    

                	
                  BLODGETT

                	
                    

                	
                  G.S.
      BLODGETT CORP.

                	
                    

                	
                  1147185

                	
                    

                	
                  1187185

                	
                    

                	
                  REGISTERED

                	
                    

                	
                  11

                	
                    

                	
                  Gas
      ovens, electric ovens and electronic ovens (name for experimental
      purposes);  gas cooking stoves; electric
      cooking  stoves; and electronic cooking stove; all for
      commercial use.

                

        

      

    

    

    
      
        
           

        

        
          18

          
            

          

        

        
           

        

      

    

    

    
      
        	
                TM
      Rights (Grouped by country) + Status + Goods

              	
                Report
      Date 7/6/01

              

      

    

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            	
                                    Country

                                  	 
      	
                                    United
      States

                                  	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                                    ID

                                  	 
      	
                                    Mark

                                  	 
      	
                                    Reg.
      Owner

                                  	 
      	
                                    App.
      #

                                  	 
      	
                                    Reg.
      #

                                  	 
      	
                                    Status

                                  	 
      	
                                    Classes

                                  	 
      	
                                    Goods
      & Services

                                  
	
                                    15431

                                  	 
      	
                                    ZEPHAIRE

                                  	 
      	
                                    G.S.
      BLODGETT CORP.

                                  	 
      	
                                    76231771

                                  	 
      	 
      	 
      	
                                    Pending
      Application

                                  	 
      	
                                    11

                                  	 
      	
                                    Ovens
      designed particularly for use in commercial cooking International Class
      11.

                                  
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                                    15048

                                  	 
      	
                                    BLODGETT

                                  	 
      	
                                    G.S.
      BLODGETT CORP.

                                  	 
      	
                                    444749

                                  	 
      	
                                    391399

                                  	 
      	
                                    REGISTERED

                                  	 
      	
                                    12

                                  	 
      	
                                    Baking
      and roasting ovens in Class 34.

                                  
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                                    15071

                                  	 
      	
                                    BLODGETT
      COMBI

                                  	 
      	
                                    G.S.
      BLODGETT CORP.

                                  	 
      	
                                    74/442297

                                  	 
      	
                                    1856690

                                  	 
      	
                                    REGISTERED

                                  	 
      	
                                    11

                                  	 
      	
                                    Combination
      commercial cooking oven/steamers in Class 11.

                                  
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                                    15478

                                  	 
      	
                                    INTELLITOUCH

                                  	 
      	
                                    G.S.
      BLODGETT CORP.

                                  	 
      	
                                    73/660959

                                  	 
      	
                                    1468906

                                  	 
      	
                                    REGISTERED

                                  	 
      	
                                    9

                                  	 
      	
                                    Control
      panels for ovens, in Class 9.

                                  
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                                    15080

                                  	 
      	
                                    IN
      VENT

                                  	 
      	
                                    G.S.
      BLODGETT CORP.

                                  	 
      	
                                    74/635062

                                  	 
      	
                                    2025982

                                  	 
      	
                                    REGISTERED

                                  	 
      	
                                    11

                                  	 
      	
                                    Ventilator
      hood enclosures for
      conveyor ovens.

                                  
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                                    15093

                                  	 
      	
                                    MASTER-THERM

                                  	 
      	
                                    G.S.
      BLODGETT CORP.

                                  	 
      	
                                    713742

                                  	 
      	
                                    1505742

                                  	 
      	
                                    REGISTERED

                                  	 
      	
                                    11

                                  	 
      	
                                    Commercial
      cooking ovens.

                                  
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                                    15107

                                  	 
      	
                                    PULSE
      PLUS

                                  	 
      	
                                    G.S.
      BLODGETT CORP.

                                  	 
      	
                                    607318

                                  	 
      	
                                    1426180

                                  	 
      	
                                    REGISTERED

                                  	 
      	
                                    11

                                  	 
      	
                                    Convection
      ovens

                                  

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

    
      
        
        

      

      
        19

        
          

        

      

      
        
        

      

    

     

    
      
        
          
            	

                    Country

                  	 	

                    United
      States

                  	 	 	 	 	 	 	 	 	 	 
	

                    ID

                  	 
      	

                    Mark

                  	 
      	

                    Reg.
      Owner

                  	 
      	

                    App.
      #

                  	 
      	

                    Reg.
      #

                  	 
      	

                    Status

                  	 
      	

                    Classes

                  	 
      	

                    Goods
      & Services

                  
	
                    15109

                  	 
      	
                    VARIO-STEAM

                  	 
      	
                    G.S.
      BLODGETT CORP.

                  	 
      	
                    758513

                  	 
      	
                    1549042

                  	 
      	
                    REGISTERED

                  	 
      	
                    11

                  	 
      	
                    Steamer
      sold as component of an electric oven for commercial
  use.

                  
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                    15110

                  	 
      	
                    ZEPHAIRE
      (Stylized)

                  	 
      	
                    G.S.
      BLODGETT CORP

                  	 
      	
                    72/358272

                  	 
      	
                    910669

                  	 
      	
                    Pending

                  	 
      	
                    11

                  	 
      	
                    Oven
      designed particularly for use in commercial cooking.

                  
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                    15114

                  	 
      	
                    FAT
      VAT

                  	 
      	
                    G.S.
      BLODGETT CORP.

                  	 
      	
                    73/554902

                  	 
      	
                    1406321

                  	 
      	
                    REGISTERED

                  	 
      	
                    12

                  	 
      	
                    Hot
      grease transporting carts.

                  
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                    15273

                  	 
      	
                    SMART
      GENERATION & DESIGN

                  	 
      	
                    G.S.
      BLODGETT CORP.

                  	 
      	
                    75/900744

                  	 
      	 
      	 
      	
                    Pending
      Application

                  	 
      	
                    11

                  	 
      	
                    Commercial
      conveyor cooking ovens.

                  
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                    15292

                  	
                      

                  	
                    MAGIGRILL

                  	
                      

                  	
                    G.S.
      BLODGETT CORP.

                  	
                      

                  	
                    76/044786

                  	
                      

                  	 
      	
                      

                  	
                    Pending
      Application

                  	
                      

                  	
                    11

                  	
                      

                  	
                    Commercial
      cooking equipment, namely, electric ovens, conveyor ovens and
      grills.

                  

          

        

      

    

    

    
      
        
           

        

        
          20

          
            

          

        

        
           

        

      

    

    

    
      
        	
                TM
      Rights (Grouped by country) + Status + Wipo

              	
                Report
      Date 7/6/01

              

      

    

    

    
      
        
          
            	
                    Country

                  	 
      	
                    Australia

                  	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                    ID

                  	 
      	
                    Mark

                  	 
      	
                    Classes

                  	 
      	
                    Reg.
      Owner

                  	 
      	
                    App.
      #

                  	 
      	
                    App.
      Dt.

                  	 
      	
                    Reg.
      #

                  	 
      	
                    Reg.
      Dt.

                  	 
      	
                    Status

                  	 
      	
                    WIPO

                  
	
                    15075

                  	 
      	
                    FRIALATOR

                  	 
      	
                    11

                  	 
      	
                    PITCO
      FRIALATOR, INC.

                  	 
      	
                    A607066

                  	 
      	
                    7/16/93

                  	 
      	
                    A607066

                  	 
      	
                    7/16/80

                  	 
      	
                    REGISTERED

                  	 
      	
                    No

                  
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                    Country

                  	 
      	
                    Benelux

                  	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                    ID

                  	 
      	
                    Mark

                  	 
      	
                    Classes

                  	 
      	
                    Reg.
      Owner

                  	 
      	
                    App.
      #

                  	 
      	
                    App.
      Dt.

                  	 
      	
                    Reg.
      #

                  	 
      	
                    Reg.
      Dt.

                  	 
      	
                    Status

                  	 
      	 
      
	
                    15115

                  	 
      	
                    PITCO

                  	 
      	
                    11

                  	 
      	
                    PITCO
      FRIALATOR, INC.

                  	 
      	 
      	 
      	
                    9/8/76

                  	 
      	
                    49847

                  	 
      	
                    9/8/96

                  	 
      	
                    REGISTERED

                  	 
      	
                    No

                  
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                    15116

                  	 
      	
                    FRIALATOR

                  	 
      	
                    11

                  	 
      	
                    PITCO
      FRIALATOR, INC.

                  	 
      	 
      	 
      	
                    9/8/76

                  	 
      	
                    49846

                  	 
      	
                    9/8/96

                  	 
      	
                    REGISTERED

                  	 
      	
                    No

                  
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                    Country

                  	 
      	
                    Canada

                  	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                    ID

                  	 
      	
                    Mark

                  	 
      	
                    Classes

                  	 
      	
                    Reg.
      Owner

                  	 
      	
                    App.
      #

                  	 
      	
                    App.
      Dt.

                  	 
      	
                    Reg.
      #

                  	 
      	
                    Reg.
      Dt.

                  	 
      	
                    Status

                  	 
      	 
      
	
                    15097

                  	 
      	
                    PITCO
      FRIALATOR

                  	 
      	 
      	 
      	
                    PITCO
      FRIALATOR, INC.

                  	 
      	
                    248752

                  	 
      	
                    12/22/58

                  	 
      	
                    TMA
      117759

                  	 
      	
                    4/29/90

                  	 
      	
                    REGISTERED

                  	 
      	
                    No

                  
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                    Country

                  	 
      	
                    Denmark

                  	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                    ID

                  	 
      	
                    Mark

                  	 
      	
                    Classes

                  	 
      	
                    Reg.
      Owner

                  	 
      	
                    App.
      #

                  	 
      	
                    App.
      Dt.

                  	 
      	
                    Reg.
      #

                  	 
      	
                    Reg.
      Dt.

                  	 
      	
                    Status

                  	 
      	 
      
	
                    15076

                  	 
      	
                    FRIALATOR

                  	 
      	
                    11

                  	 
      	
                    PITCO
      FRIALATOR, INC.

                  	 
      	
                    1987/1971

                  	 
      	
                    7/30/71

                  	 
      	
                    VR
      197101987

                  	 
      	
                    7/30/91

                  	 
      	
                    PENDING

                  	 
      	
                    No

                  
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                    15095

                  	 
      	
                    PITCO

                  	 
      	
                    11

                  	 
      	
                    PITCO
      FRIALATOR, INC.

                  	 
      	
                    455/1972

                  	 
      	
                    2/11/72

                  	 
      	
                    VR
      197200455

                  	 
      	
                    2/11/92

                  	 
      	
                    REGISTERED

                  	 
      	
                    No

                  

          

        

      

    

    

    
      
        
           

        

        
          21

          
            

          

        

        
           

        

      

    

    

    
      
        	
                Country

              	 
      	
                  European
      Union

              	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                ID

              	 
      	
                Mark

              	 
      	
                Classes

              	 
      	
                Reg.
      Owner

              	 
      	
                App.
      #

              	 
      	
                App.
      Dt.

              	 
      	
                Reg.
      #

              	 
      	
                Reg.
      Dt.

              	 
      	
                Status

              	 
      	
                WIPO

              
	
                15279

              	 
      	
                PITCO

              	 
      	
                7,
      9, 11

              	 
      	
                PITCO
      FRIALATOR, INC.

              	 
      	
                1557941

              	 
      	
                1/15/00

              	 
      	 
      	 
      	 
      	 
      	
                Pending
      Application

              	 
      	
                No

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                15280

              	
                  

              	
                FRIALATOR

              	
                  

              	
                7,
      9, 11

              	
                  

              	
                PITCO
      FRIALATOR, INC.

              	
                  

              	
                1558022

              	
                  

              	
                3/15/00

              	
                  

              	
                1558022

              	
                  

              	
                3/15/00

              	
                  

              	
                REGISTERED

              	
                  

              	
                No

              

      

    

    

    
      
        
           

        

        
          22

          
            

          

        

        
           

        

      

    

    

    
      
        	
                TM
      Rights (Grouped by country) + Status + Wipo

              	
                Report
      Date 7/6/01

              

      

    

    

    
      
        	
                Country

              	 
      	
                France

              	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                ID

              	 
      	
                Mark

              	 
      	
                Classes

              	 
      	
                Reg.
      Owner

              	 
      	
                App.
      #

              	 
      	
                App.
      Dt.

              	 
      	
                Reg.
      #

              	 
      	
                Reg.
      Dt.

              	 
      	
                Status

              	 
      	
                WIPO

              
	
                15077

              	 
      	
                FRIALATOR

              	 
      	
                11

              	 
      	
                PITCO
      -FRIALATOR, INC.

              	 
      	 
      	 
      	 
      	 
      	
                1703060

              	 
      	
                7/5/00

              	 
      	
                REGISTERED

              	 
      	
                No

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                15096

              	 
      	
                PITCO

              	 
      	
                11

              	 
      	
                PITCO
      -FRIALATOR, INC.

              	 
      	
                516154

              	 
      	
                5/15/79

              	 
      	
                1530570

              	 
      	
                5/7/99

              	 
      	
                REGISTERED

              	 
      	
                No

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                Country

              	 
      	
                Germany

              	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                ID

              	 
      	
                Mark

              	 
      	
                Classes

              	 
      	
                Reg.
      Owner

              	 
      	
                App.
      #

              	 
      	
                App.
      Dt.

              	 
      	
                Reg.
      #

              	 
      	
                Reg.
      Dt.

              	 
      	
                Status

              	 
      	
                WIPO

              
	
                15117

              	 
      	
                FRIALATOR

              	 
      	
                11

              	 
      	
                PITCO
      FRIALATOR, INC.

              	 
      	
                883361

              	 
      	
                8/8/90

              	 
      	
                883361

              	 
      	
                8/8/90

              	 
      	
                PENDING

              	 
      	
                No

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                15242

              	 
      	
                PITCO

              	 
      	
                11

              	 
      	
                PITCO
      FRIALATOR, INC.

              	 
      	
                69/2696

              	 
      	
                7/1/69

              	 
      	
                870764

              	 
      	
                7/31/99

              	 
      	
                REGISTERED

              	 
      	
                No

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                Country

              	 
      	
                Italy

              	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                ID

              	 
      	
                Mark

              	 
      	
                Classes

              	 
      	
                Reg.
      Owner

              	 
      	
                App.
      #

              	 
      	
                App.
      Dt.

              	 
      	
                Reg.
      #

              	 
      	
                Reg.
      Dt.

              	 
      	
                Status

              	 
      	
                WIPO

              
	
                15334

              	 
      	
                FRIALATOR

              	 
      	
                11,
      29

              	 
      	
                PITCO
      FRIALATOR, INC.

              	 
      	
                159473

              	 
      	 
      	 
      	
                383043

              	 
      	
                12/4/85

              	 
      	
                PENDING

              	 
      	
                No

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                15098

              	 
      	
                PITCO

              	 
      	
                11

              	 
      	
                PITCO
      FRIALATOR, INC.

              	 
      	
                160668

              	 
      	
                11/10/00

              	 
      	
                383042

              	 
      	
                11/10/80

              	 
      	
                PENDING

              	 
      	
                No

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                Country

              	 
      	
                Japan

              	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                ID

              	 
      	
                Mark

              	 
      	
                Classes

              	 
      	
                Reg.
      Owner

              	 
      	
                App.
      #

              	 
      	
                App.
      Dt.

              	 
      	
                Reg.
      #

              	 
      	
                Reg.
      Dt.

              	 
      	
                Status

              	 
      	
                WIPO

              
	
                15121

              	
                  

              	
                FRIALATOR

              	
                  

              	
                11

              	
                  

              	
                PITCO
      FRIALATOR, INC.

              	
                  

              	
                077256/1993

              	
                  

              	
                7/21/93

              	
                  

              	
                3206439

              	
                  

              	
                10/31/96

              	
                  

              	
                REGISTERED

              	
                  

              	
                No

              

      

    

    

    
      
        
           

        

        
          23

          
            

          

        

        
           

        

      

    

    

    
      
        	
                TM
      Rights (Grouped by country) + Status + Wipo

              	
                Report
      Date 7/6/01

              

      

    

    

    
      
        	
                Country

              	 
      	
                United
      States

              	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                ID

              	 
      	
                Mark

              	 
      	
                Classes

              	 
      	
                Reg.
      Owner

              	 
      	
                App.
      #

              	 
      	
                App.
      Dt.

              	 
      	
                Reg.
      #

              	 
      	
                Reg.
      Dt.

              	 
      	
                Status

              	 
      	
                WIPO

              
	
                15073

              	 
      	
                FRIALATOR
      (Script)

              	 
      	
                13

              	 
      	
                PITCO
      FRIALATOR, INC.

              	 
      	
                236329

              	 
      	
                1/11/66

              	 
      	
                821449

              	 
      	
                1/3/87

              	 
      	
                REGISTERED

              	 
      	
                No

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                15094

              	 
      	
                PITCO

              	 
      	
                11

              	 
      	
                PITCO
      FRIALATOR, INC.

              	 
      	
                74/431625

              	 
      	
                9/3/93

              	 
      	
                1848558

              	 
      	
                8/9/94

              	 
      	
                REGISTERED

              	 
      	
                No

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                15100

              	 
      	
                PITCO
      FRIALATOR

              	 
      	
                11

              	 
      	
                PITCO
      FRIALATOR, INC.

              	 
      	
                539494

              	 
      	
                5/24/85

              	 
      	
                1385139

              	 
      	
                3/4/86

              	 
      	
                REGISTERED

              	 
      	
                No

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                15101

              	 
      	
                PITMAN
      MASTERMATIC (Stylized)

              	 
      	 
      	 
      	
                PITCO
      FRIALATOR, INC.

              	 
      	
                179062

              	 
      	
                10/15/63

              	 
      	
                789068

              	 
      	
                5/4/85

              	 
      	
                REGISTERED

              	 
      	
                No

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                15108

              	
                  

              	
                TURBO
      FRY 2000

              	
                  

              	
                11

              	
                  

              	
                PITCO
      FRIALATOR, INC.

              	
                  

              	
                75/033501

              	
                  

              	
                12/21/95

              	
                  

              	
                2109688

              	
                  

              	
                10/28/97

              	
                  

              	
                REGISTERED

              	
                  

              	
                No

              

      

    

    

    
      
        
           

        

        
          24

          
            

          

        

        
           

        

      

    

    

    
      
        	
                TM
      Rights (Grouped by country) + Status + Goods

              	
                Report
      Date 7/6/01

              

      

    

    

    
      
        
          	
                  Country

                	 
      	
                  Australia

                	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                  ID

                	 
      	
                  Mark

                	 
      	
                  Reg.
      Owner

                	 
      	
                  App.
      #

                	 
      	
                  Reg.
      #

                	 
      	
                  Status

                	 
      	
                  Classes

                	 
      	
                  Goods
      & Services

                
	
                  15075

                	 
      	
                  FRIALATOR

                	 
      	
                  PITCO
      FRIALATOR, INC.

                	 
      	
                  A607066

                	 
      	
                  A607066

                	 
      	
                  REGISTERED

                	 
      	
                  11

                	 
      	
                  Apparatus
      for cooking including deep fat frying equipment.

                
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                  Country

                	 
      	
                  Benelux

                	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                  ID

                	 
      	
                  Mark

                	 
      	
                  Reg.
      Owner

                	 
      	
                  App.
      #

                	 
      	
                  Reg.
      #

                	 
      	
                  Status

                	 
      	
                  Classes

                	 
      	
                  Goods
      & Services

                
	
                  15115

                	 
      	
                  PITCO

                	 
      	
                  PITCO
      FRIALATOR, INC

                	 
      	 
      	 
      	
                  49847

                	 
      	
                  REGISTERED

                	 
      	
                  11

                	 
      	
                  C 1
      I I Installations d’éclairage, de
      chauffage, de production de vapeur, de cuisson, de réfrigération, de
      ventilation, de distribution d’eau et installations
      sanitaires.

                
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	
                  English Translation:

                  Installations for
      lighting, heating, steam production, cooking, refrigeration, ventilation,
      water supply and sanitation.

                
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                  15116

                	 
      	
                  FRIALATOR

                	 
      	
                  PITCO
      FRIALATOR

                	 
      	 
      	 
      	
                  49846

                	 
      	
                  REGISTERED

                	 
      	
                  11

                	 
      	
                  “C 1 I I
      Installations d’éclairage, de
      chauffage, de production de vapeur (à l’exclusion des parties de machines
      ou de véhicules) de
      cuisson, de réfrigération, de
      séchage,
      de ventilation y compris de climatisation ou de conditionnement
      d’air, de distribution d’eau et installations sanitaires; appareils pour
      le chauffage d’eau.”

                

        

      

    

    

    
      
        
           

        

        
          25

          
            

          

        

        
           

        

      

    

    

    
      
        
          	
                  Country

                	 
      	
                  Benelux

                	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                  ID

                	 
      	
                  Mark

                	 
      	
                  Reg.
      Owner

                	 
      	
                  App.
      #

                	 
      	
                  Reg.
      #

                	 
      	
                  Status

                	 
      	
                  Classes

                	 
      	
                  Goods
      & Services

                
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	
                  English Translation:

                  “Installations for
      lighting, heating, steam production (exclusive of machine parts or
      vehicles) cooking, refrigerating, drying, ventilation including air
      conditioning or air conditioning, water supply and sanitation; apparatus
      for heating water.”

                
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                  Country

                	 
      	
                  Canada

                	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                  ID

                	 
      	
                  Mark

                	 
      	
                  Reg.
      Owner

                	 
      	
                  App.
      #

                	 
      	
                  Reg.
      #

                	 
      	
                  Status

                	 
      	
                  Classes

                	 
      	
                  Goods
      & Services

                
	
                  15097

                	 
      	
                  PITCO
      FRIALATOR

                	 
      	
                  PITCO
      FRIALATOR, INC.

                	 
      	
                  248752

                	 
      	
                  TMA
      117759

                	 
      	
                  REGISTERED

                	 
      	 
      	 
      	
                  Kettles
      for frying in deep fat.

                
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                  Country

                	 
      	
                  Denmark

                	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                  ID

                	 
      	
                  Mark

                	 
      	
                  Reg.
      Owner

                	 
      	
                  App.
      #

                	 
      	
                  Reg.
      #

                	 
      	
                  Status

                	 
      	
                  Classes

                	 
      	
                  Goods
      & Services

                
	
                  15076

                	 
      	
                  FRIALATOR

                	 
      	
                  PITCO
      FRIALATOR, INC.

                	 
      	
                  1987/1971

                	 
      	
                  VR
      1971/01987

                	 
      	
                  PENDING

                	 
      	
                  11

                	 
      	
                  Deep
      fat frying cookers and fittings (not contained in other classes)
      thereof.

                
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                  15076

                	
                    

                	
                  PITCO

                	
                    

                	
                  PITCO
      FRIALATOR, INC.

                	
                    

                	
                  455/1972

                	
                    

                	
                  VR
      1972/0455

                	
                    

                	
                  REGISTERED

                	
                    

                	
                  11

                	
                    

                	
                  Apparatus
      and accessories (not contained in other classes) for deep fat-frying and
      parts thereof.

                

        

      

    

    

    
      
        
           

        

        
          26

          
            

          

        

        
           

        

      

    

    

    
      
        	
                TM
      Rights (Grouped by country) + Status + Goods

              	
                Report
      Date 7/6/01

              

      

    

    

    
      
        	
                Country

              	 
      	
                European
      Union

              	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                ID

              	 
      	
                Mark

              	 
      	
                Reg.
      Owner

              	 
      	
                App.
      #

              	 
      	
                Reg.
      #

              	 
      	
                Status

              	 
      	
                Classes

              	 
      	
                Goods
      & Services

              
	
                15279

              	 
      	
                PITCO

              	 
      	
                PITCO
      FRIALATOR, INC.

              	 
      	
                1557941

              	 
      	 
      	 
      	
                Pending
      Application

              	 
      	
                7,
      9, 11

              	 
      	
                Domestic,
      kitchen and household electrical appliances, instruments and machines,
      included in Class 7; apparatus, instruments and machines for washing,
      drying or laundry purposes; vacuum cleaners and cleaning apparatus,
      instruments and machines included in Class 7; washing and polishing
      machines, apparatus and instruments; polishing apparatus, instruments and
      machines; irons and ironing apparatus, instruments and machines;
      dishwashers, compaction and waste disposal apparatus, instruments and
      machines; dust exhausting and removing installations; cleaning appliances
      utilizing steam; carpet shampooing machines and apparatus; parts and
      fittings for all the aforesaid
goods.

              

      

    

    

    
      
        
           

        

        
          27

          
            

          

        

        
           

        

      

    

    

    
      
        	
                TM
      Rights (Grouped by country) + Status + Goods

              	
                Report
      Date 7/6/01

              

      

    

    

    
      
        
          	
                  Country

                	 
      	
                  European
      Union

                	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                  ID

                	 
      	
                  Mark

                	 
      	
                  Reg.
      Owner

                	 
      	
                  App.
      #

                	 
      	
                  Reg.
      #

                	 
      	
                  Status

                	 
      	
                  Classes

                	 
      	
                  Goods
      & Services

                
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	
                  Domestic,
      kitchen and household electrical appliances, instruments and machines
      included in Class 9, cleaning apparatus, instruments and machines included
      in Class 9; electric irons; refrigerated vending apparatus, instruments
      and machines; refrigerated vending beverage dispensing apparatus,
      instruments and machines; apparatus and instruments for dispensing ice and
      chilled beverages; sound on video recording or reproducing apparatus and
      instruments; radio, television, speakers; camera; remote control apparatus
      and instruments; communication, transmitting and receiving apparatus and
      instruments; antennas, amplifiers; magnetic tapes and cassettes for use
      therewith; dry cells and batteries; transmission lines and electric cables
      and connectors for use therewith; vending machines, apparatus and
      instruments; computer apparatus in Class 9; computer software and computer
      programs; parts and fittings for all the aforesaid
  goods.

                

        

      

    

    

    
      
        
           

        

        
          28

          
            

          

        

        
           

        

      

    

    

    
      
        	
                TM
      Rights (Grouped by country) + Status + Goods

              	
                Report
      Date 7/6/01

              

      

    

    

    
      
        
          	
                  Country

                	 
      	
                  European
      Union

                	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                  ID

                	 
      	
                  Mark

                	 
      	
                  Reg.
      Owner

                	 
      	
                  App.
      #

                	 
      	
                  Reg.
      #

                	 
      	
                  Status

                	 
      	
                  Classes

                	 
      	
                  Goods
      & Services

                
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	
                  Domestic,
      kitchen and household electrical apparatus, instruments and machines
      included in Class 11; fans; apparatus, instruments, machines and
      installations for cooking, refrigerating, drying, heating, cooling,
      freezing; refrigerated cabinets; apparatus and instruments for dispensing
      ice and chilled beverages; ventilating and air conditioning apparatus,
      instruments and installations; extractor hoods for kitchens; gas and
      electric ranges, stoves and ovens; hobs; cook tops and cooking surfaces;
      water coolers and heaters; microwave ovens; electrically driven barbecue
      units for electric stoves; humidifiers, dehumidifiers, water purifying
      apparatus and machines and installation;  water filtering
      apparatus; water softening apparatus and installations, water sterilizers;
      parts and fittings for all the aforesaid goods.

                
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                  15280

                	 
      	
                  FRIALATOR

                	 
      	
                  PITCO
      FRIALATOR, INC.

                	 
      	
                  1558022

                	 
      	
                  1558022

                	 
      	
                  REGISTERED

                	 
      	
                  7,
      9, 11

                	 
      	
                  Domestic,
      kitchen and household electrical appliances, instruments and machines,
      included in Class 7; apparatus, instruments and machines for washing,
      drying or laundry purposes; vacuum cleaners and cleaning apparatus,
      instruments and machines included in Class 7; washing and polishing
      machines, apparatus and instruments; polishing apparatus, instruments and
      machines; irons and ironing apparatus, instruments and machines;
      dishwashers, compaction and waste disposal apparatus, instruments and
      machines; dust exhausting and removing installations; cleaning appliances
      utilizing steam; carpet shampooing machines and apparatus; parts and
      fittings for all the aforesaid
goods.

                

        

      

    

    

    
      
        
           

        

        
          29

          
            

          

        

        
           

        

      

    

    

    
      
        	
                TM
      Rights (Grouped by country) + Status + Goods

              	
                Report
      Date 7/6/01

              

      

    

    

    
      
        
          	
                  Country

                	 
      	
                  European
      Union

                	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                  ID

                	 
      	
                  Mark

                	 
      	
                  Reg.
      Owner

                	 
      	
                  App.
      #

                	 
      	
                  Reg.
      #

                	 
      	
                  Status

                	 
      	
                  Classes

                	 
      	
                  Goods
      & Services

                
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	
                  Domestic,
      kitchen and household electrical appliances, instruments and machines
      included in Class 9, cleaning apparatus, instruments and machines included
      in Class 9; electric irons; refrigerated vending apparatus, instruments
      and machines; refrigerated vending beverage dispensing apparatus,
      instruments and machines; apparatus and instruments for dispensing ice and
      chilled beverages; sound on video recording or reproducing apparatus and
      instruments; radio, television, speakers; camera; remote control apparatus
      and instruments; communication, transmitting and receiving apparatus and
      instruments; antennas, amplifiers; magnetic tapes and cassettes for use
      therewith; dry cells and batteries; transmission lines and electric cables
      and connectors for use therewith; vending machines, apparatus and
      instruments; computer apparatus in Class 9; computer software and computer
      programs; parts and fittings for all the aforesaid
  goods.

                

        

      

    

    

    
      
        
           

        

        
          30

          
            

          

        

        
           

        

      

    

    

    
      
        	
                TM
      Rights (Grouped by country) + Status + Goods

              	
                Report
      Date 7/6/01

              

      

    

    

    
      
        
          
            
              	
                      Country

                    	 
      	
                      European
      Union

                    	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                      ID

                    	 
      	
                      Mark

                    	 
      	
                      Reg.
      Owner

                    	 
      	
                      App.
      #

                    	 
      	
                      Reg.
      #

                    	 
      	
                      Status

                    	 
      	
                      Classes

                    	 
      	
                      Goods
      & Services

                    
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	
                      Domestic,
      kitchen and household electrical apparatus, instruments and machines
      included in Class 11; fans; apparatus, instruments, machines and
      installations for cooking, refrigerating, drying, heating, cooling,
      freezing; refrigerated cabinets; apparatus and instruments for dispensing
      ice and chilled beverages; ventilating and air conditioning apparatus,
      instruments and installations; extractor hoods for kitchens; gas and
      electric ranges, stoves and ovens; hobs; cook tops and cooking surfaces;
      water coolers and heaters; microwave ovens; electrically driven barbecue
      units for electric stoves; humidifiers, dehumidifiers, water purifying
      apparatus and machines and installation;  water filtering
      apparatus; water softening apparatus and installations, water sterilizers;
      parts and fittings for all the aforesaid
goods.

                    

            

          

        

      

    

    

    
      
        
           

        

        
          31

          
            

          

        

        
           

        

      

    

    

    
      
        	
                Country

              	 
      	
                France

              	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                ID

              	 
      	
                Mark

              	 
      	
                Reg.
      Owner

              	 
      	
                App.
      #

              	 
      	
                Reg.
      #

              	 
      	
                Status

              	 
      	
                Classes

              	 
      	
                Goods
      & Services

              
	
                15077

              	 
      	
                FRIALATOR

              	 
      	
                PITCO
      FRIALATOR, INC.

              	 
      	 
      	 
      	
                1703060

              	 
      	
                REGISTERED

              	 
      	
                11

              	 
      	
                Apparatus
      for lighting, heating, steam generating, cooking, refrigerating, drying,
      ventilating and water supply and sanitary
installations.

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                15096

              	 
      	
                PITCO

              	 
      	
                PITCO
      FRIALATOR, INC.

              	 
      	
                516154

              	 
      	
                1530570

              	 
      	
                REGISTERED

              	 
      	
                11

              	 
      	
                Apparatus
      for lighting, heating, steam generating, cooling, refrigeration, drying,
      ventilating, water supply and sanitary purposes in Class
    11.

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                Country

              	 
      	
                Germany

              	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                ID

              	 
      	
                Mark

              	 
      	
                Reg.
      Owner

              	 
      	
                App.
      #

              	 
      	
                Reg.
      #

              	 
      	
                Status

              	 
      	
                Classes

              	 
      	
                Goods
      & Services

              
	
                15117

              	 
      	
                FRIALATOR

              	 
      	
                PITCO
      FRIALATOR, INC.

              	 
      	
                883361

              	 
      	
                883361

              	 
      	
                PENDING

              	 
      	
                11

              	 
      	
                Apparatus
      for lighting, heating, steam generating, cooling, refrigeration, drying,
      ventilating, water supply and sanitary purposes.

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                15242

              	
                  

              	
                PITCO

              	
                  

              	
                PITCO
      FRIALATOR, INC.

              	
                  

              	
                69/2696

              	
                  

              	
                870764

              	
                  

              	
                REGISTERED

              	
                  

              	
                11

              	
                  

              	
                Apparatus
      for lighting, heating, steam generating, cooling, refrigeration, drying,
      ventilating, water supply and sanitary
purposes

              

      

    

    

    
      
        
           

        

        
          32

          
            

          

        

        
           

        

      

    

    

    
      
        	
                TM
      Rights (Grouped by country) + Status + Goods

              	
                Report
      Date 7/6/01

              

      

    

    

    
      
        	
                Country

              	 
      	
                Italy

              	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                ID

              	 
      	
                Mark

              	 
      	
                Reg.
      Owner

              	 
      	
                App.
      #

              	 
      	
                Reg.
      #

              	 
      	
                Status

              	 
      	
                Classes

              	 
      	
                Goods
      & Services

              
	
                15334

              	 
      	
                FRIALATOR

              	 
      	
                PITCO
      FRIALATOR, INC.

              	 
      	
                159473

              	 
      	
                383043

              	 
      	
                PENDING

              	 
      	
                11,
      29

              	 
      	
                NEED
      DESCRIPTION OF GOODS.

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                15098

              	 
      	
                PITCO

              	 
      	
                PITCO
      FRIALATOR, INC.

              	 
      	
                160688

              	 
      	
                383042

              	 
      	
                PENDING

              	 
      	
                11

              	 
      	
                Apparatus
      for lighting, heating, steam generating, cooling, refrigeration, drying,
      ventilating, water supply and sanitary purposes in Class 11, (fish,
      poultry and game, extracts, preserved, dried and cooked fruits and
      vegetables, jellies, jams, eggs, milk and milk products, edible oils and
      fats, preserves and pickled foods in Class 29).

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                Country

              	 
      	
                Japan

              	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                ID

              	 
      	
                Mark

              	 
      	
                Reg.
      Owner

              	 
      	
                App.
      #

              	 
      	
                Reg.
      #

              	 
      	
                Status

              	 
      	
                Classes

              	 
      	
                Goods
      & Services

              
	
                15121

              	 
      	
                FRIALATOR

              	 
      	
                PITCO
      FRIALATOR, INC.

              	 
      	
                0772561993

              	 
      	
                3206439

              	 
      	
                REGISTERED

              	 
      	
                11

              	 
      	
                Deep
      fat frying equipment.

                 

                NEED
      DESCRIPTION OF GOODS

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                Country

              	 
      	
                United
      States

              	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                ID

              	 
      	
                Mark

              	 
      	
                Reg.
      Owner

              	 
      	
                App.
      #

              	 
      	
                Reg.
      #

              	 
      	
                Status

              	 
      	
                Classes

              	 
      	
                Goods
      & Services

              
	
                15073

              	 
      	
                FRIALATOR
      (Script)

              	 
      	
                PITCO
      FRIALATOR, INC.

              	 
      	
                236329

              	 
      	
                821449

              	 
      	
                REGISTERED

              	 
      	
                13

              	 
      	
                Deep
      fat frying equipment.

              

      

    

    

    
      
        
           

        

        
          33

          
            

          

        

        
           

        

      

    

    

    
      
        	
                Country

              	 
      	
                United
      States

              	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                ID

              	 
      	
                Mark

              	 
      	
                Reg.
      Owner

              	 
      	
                App.
      #

              	 
      	
                Reg.
      #

              	 
      	
                Status

              	 
      	
                Classes

              	 
      	
                Goods
      & Services

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                15094

              	 
      	
                PITCO

              	 
      	
                PITCO
      FRIALATOR, INC.

              	 
      	
                74/431625

              	 
      	
                1848558

              	 
      	
                REGISTERED

              	 
      	
                11

              	 
      	
                Cookers
      for commercial institutions, namely commercial cooking ovens and gas and
      electric deep fryers

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                15100

              	 
      	
                PITCO
      FRIALATOR

              	 
      	
                PITCO
      FRIALATOR, INC.

              	 
      	
                539494

              	 
      	
                1385139

              	 
      	
                REGISTERED

              	 
      	
                11

              	 
      	
                Deep
      fat fryers for commercial use.

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                15101

              	 
      	
                PITMAN
      MASTERMATIC (Stylized)

              	 
      	
                PITCO
      FRIALATOR, INC.

              	 
      	
                179062

              	 
      	
                789068

              	 
      	
                REGISTERED

              	 
      	
                11

              	 
      	
                Automatic
      continuous, deep fat food and fryer.

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                15108

              	
                  

              	
                TURBO
      FRY 2000

              	
                  

              	
                PITCO
      FRIALATOR, INC.

              	
                  

              	
                75/035501

              	
                  

              	
                2109688

              	
                  

              	
                REGISTERED

              	
                  

              	
                11

              	
                  

              	
                Gas
      and electric deep fat fryers for commercial
use.

              

      

    

    

    
      
        
           

        

        
          34

          
            

          

        

        
           

        

      

    

    

    
      
        	
                TM
      Rights (Grouped by country) + Status

              	
                Report
      Date 7/6/01

              

      

    

    

    
      
        	
                Country

              	 
      	
                Canada

              	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                ID

              	 
      	
                Mark

              	 
      	
                Classes

              	 
      	
                Reg.
      Owner

              	 
      	
                App.
      #

              	 
      	
                App.
      Dt.

              	 
      	
                Reg.
      #

              	 
      	
                Reg.
      Dt.

              	 
      	
                Status

              
	
                15176

              	 
      	
                MAGIKITCHEN

              	 
      	 
      	 
      	
                MAGIKITCHEN,
      INC.

              	 
      	
                734617

              	 
      	
                8/3/93

              	 
      	
                TMA
      484511

              	 
      	
                10/23/97

              	 
      	
                REGISTERED

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                Country

              	 
      	
                United
      States

              	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                ID

              	 
      	
                Mark

              	 
      	
                Classes

              	 
      	
                Reg.
      Owner

              	 
      	
                App.
      #

              	 
      	
                App.
      Dt.

              	 
      	
                Reg.
      #

              	 
      	
                Reg.
      Dt.

              	 
      	
                Status

              
	
                15081

              	 
      	
                MAGICATER

              	 
      	
                11

              	 
      	
                MAGIKITCHEN,
      INC.

              	 
      	
                74/292960

              	 
      	
                7/10/92

              	 
      	
                1867576

              	 
      	
                12/13/94

              	 
      	
                REGISTERED

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                15084

              	 
      	
                MAGICOALS

              	 
      	
                4

              	 
      	
                MAGIKITCHEN,
      INC.

              	 
      	
                74/588874

              	 
      	
                10/21/94

              	 
      	
                1996057

              	 
      	
                8/27/96

              	 
      	
                REGISTERED

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                15086

              	 
      	
                MAGIKITCHEN
      (Stylized)

              	 
      	
                11

              	 
      	
                MAGIKITCHEN,
      INC.

              	 
      	
                74/292979

              	 
      	
                7/10/92

              	 
      	
                1875171

              	 
      	
                1/24/95

              	 
      	
                REGISTERED

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                15113

              	
                  

              	
                MAGIKITCHEN

              	
                  

              	
                11

              	
                  

              	
                MAGIKITCHEN
      EQUIPMENT CORP.

              	
                  

              	
                73/341749

              	
                  

              	
                12/14/81

              	
                  

              	
                1213212

              	
                  

              	
                10/19/82

              	
                  

              	
                REGISTERED

              

      

    

    

    
      
        
           

        

        
          35

          
            

          

        

        
           

        

      

    

    

    
      
        	
                TM
      Rights (Grouped by country) + Status + Goods

              	
                Report
      Date 7/6/01

              

      

    

    

    
      
        	
                Country

              	 
      	
                Canada

              	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                ID

              	 
      	
                Mark

              	 
      	
                Reg.
      Owner

              	 
      	
                App.
      #

              	 
      	
                Reg.
      #

              	 
      	
                Status

              	 
      	
                Classes

              	 
      	
                Goods
      & Services

              
	
                15176

              	 
      	
                MAGIKITCHEN

              	 
      	
                MAGIKITCHEN,
      INC.

              	 
      	
                734617

              	 
      	
                TMA
      484511

              	 
      	
                REGISTERED

              	 
      	 
      	 
      	
                Cooking
      appliances, namely, gas and electrically heated boilers, griddles and
      grills.

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                Country

              	 
      	
                United
      States

              	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                ID

              	 
      	
                Mark

              	 
      	
                Reg.
      Owner

              	 
      	
                App.
      #

              	 
      	
                Reg.
      #

              	 
      	
                Status

              	 
      	
                Classes

              	 
      	
                Goods
      & Services

              
	
                15081

              	 
      	
                MAGICATER

              	 
      	
                MAGIKITCHEN,
      INC.

              	 
      	
                74/292960

              	 
      	
                1867576

              	 
      	
                REGISTERED

              	 
      	
                11

              	 
      	
                Outdoor
      commercial cooking equipment, namely, gas and solid fuel burning grills
      and smokers, in Class 11.

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                15084

              	 
      	
                MAGICOALS

              	 
      	
                MAGIKITCHEN,
      INC.

              	 
      	
                74/588874

              	 
      	
                1996457

              	 
      	
                REGISTERED

              	 
      	
                4

              	 
      	
                Ceramic
      briquettes for use in electric gas grills, in Class 4.

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                15086

              	 
      	
                MAGIKITCHEN
      (Stylized)

              	 
      	
                MAGIKITCHEN,
      INC.

              	 
      	
                74/292979

              	 
      	
                1875171

              	 
      	
                REGISTERED

              	 
      	
                11

              	 
      	
                Stoves
      for commercial use, namely, electric stoves, gas stoves, solid fuel
      burning stoves, electric and gas broilers for commercial use; and holding
      equipment, namely smokers for commercial use, in Class
  11.

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                15113

              	
                  

              	
                MAGIKITCHEN

              	
                  

              	
                MAGIKITCHEN
      EQUIPMENT CORP.

              	
                  

              	
                73/341749

              	
                  

              	
                1213212

              	
                  

              	
                REGISTERED

              	
                  

              	
                11

              	
                  

              	
                Cooking
      appliances, namely, gas and electrically heated broilers, griddle and
      grills.

              

      

    

    

    
      
        
           

        

        
          36

          
            

          

        

        
           

        

      

    

    

    Schedule
IV

    

    
      
        
          
            
              
                	
                        MIDDLEBY
      MARSHALL

                        ACTIVE
      TRADEMARKS

                      
	
                        Trademark Name

                      	 
      	
                        Country

                      	 
      	
                        Status

                      	 
      	
                        Our File No.

                      	 
      	
                        Appln. Number

                        Appln Date

                      	 
      	
                        Reg. Number

                        Reg. Date

                      
	 	 	 	 	 	 	 	 	 	 	 
	
                        CTX

                      	 
      	
                        South
      Africa

                      	 
      	
                        Pending

                      	 
      	
                        202170-00476

                      	 
      	
                        2000/9361

                        15-May-00

                      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                        CTX
      & DESIGN

                      	 
      	
                        United
      States

                      	 
      	
                        Registered

                      	 
      	
                        202170-00111

                      	 
      	
                        466303

                        21-Feb-84

                      	 
      	
                        1337554

                        28-May-85

                      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                        ESCAN

                      	 
      	
                        Canada

                      	 
      	
                        Registered

                      	 
      	
                        202170-00198

                      	 
      	
                        420413

                        26-Jan-78

                      	 
      	
                        233886

                        22-Jun-79

                      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                        MENUSELECT

                      	 
      	
                        United
      States

                      	 
      	
                        Registered

                      	 
      	
                        202170-00246

                      	 
      	
                        142237

                        22-Feb-91

                      	 
      	
                        1783356

                        20-Jul-93

                      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                        MIDDLEBY
      MARSHALL

                      	 
      	
                        China

                      	 
      	
                        Registered

                      	 
      	
                        202170-00429

                      	 
      	 
      	 
      	
                        1207431

                        14-Sep-98

                      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                        Egypt

                      	 
      	
                        Pending

                      	 
      	
                        202170-00428

                      	 
      	
                        108239

                        08-Jul-97

                      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                        Mexico

                      	 
      	
                        Registered

                      	 
      	
                        202170-00430

                      	 
      	
                        300999

                        10-Jul-97

                      	 
      	
                        570383

                        10-Jul-97

                      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                        Philippines

                      	 
      	
                        Pending

                      	 
      	
                        202170-00426

                      	 
      	
                        4-1998-00447

                        28-Jan-98

                      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                        Spain

                      	 
      	
                        Registered

                      	 
      	
                        202170-00427

                      	 
      	
                        2103299

                        08-Jul-97

                      	 
      	
                        2103299

                        08-Jul-97

                      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                        MIDDLEBY
      MARSHALL & LOGO

                      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	
                          

                      	
                        South
      Africa

                      	
                          

                      	
                        Pending

                      	
                          

                      	
                        202170-00477

                      	
                          

                      	
                        2000/9362

                        15-May-90

                      	
                          

                      	 
      

              

            

          

        

      

    

    

    
      
        
           

        

        
          37

          
            

          

        

        
           

        

      

    

    

    
      
        
          
            
              
                
                  
                    
                      
                        	
                                Trademark Name

                              	 
      	
                                Country

                              	 
      	
                                Status

                              	 
      	
                                Our File No.

                              	 
      	
                                Appln. Number

                                Appln Date

                              	 
      	
                                Reg. Number

                                Reg. Date

                              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                                MIDDLEBY
      MARSHALL & MM LOGO

                              	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 	 	 	 	 	 	 	 	 	 	 
	 
      	 
      	
                                Thailand

                              	 
      	
                                Registered

                              	 
      	
                                202170-00432

                              	 
      	
                                350978

                                18-Dec-97

                              	 
      	
                                TM93089

                                18-Dec-97

                              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                                MIDDLEBY
      MARSHALL AND MM DESIGN

                              	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 	 	 	 	 	 	 	 	 
	 
      	 
      	
                                Germany

                              	 
      	
                                Registered

                              	 
      	
                                202170-00051

                              	 
      	
                                M66239/11WZ

                                16-Nov-89

                              	 
      	
                                1169027

                                16-Nov-89

                              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                                MIDDLEBY-MARSHALL

                              	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                Australia

                              	 
      	
                                Registered

                              	 
      	
                                202170-00034

                              	 
      	
                                483891

                                22-Mar-88

                              	 
      	
                                B483891

                                22-Mar-88

                              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                Benelux

                              	 
      	
                                Registered

                              	 
      	
                                202170-00037

                              	 
      	
                                62596

                                22-Mar-88

                              	 
      	
                                451206

                                22-Mar-88

                              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                Canada

                              	 
      	
                                Registered

                              	 
      	
                                202170-00038

                              	 
      	
                                604100

                                30-Mar-88

                              	 
      	
                                352547

                                03-Mar-89

                              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                Finland

                              	 
      	
                                Registered

                              	 
      	
                                202170-00042

                              	 
      	
                                1536/88

                                11-Apr-88

                              	 
      	
                                109904

                                20-Dec-90

                              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                France

                              	 
      	
                                Registered

                              	 
      	
                                202170-00046

                              	 
      	
                                917362

                                30-Mar-88

                              	 
      	
                                1696524

                                30-Mar-88

                              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                Germany

                              	 
      	
                                Registered

                              	 
      	
                                202170-00049

                              	 
      	
                                M62612/11

                                22-Mar-88

                              	 
      	
                                1136391

                                17-Mar-89

                              

                      

                    

                  

                

              

            

          

        

      

    

    

    
      
        
           

        

        
          38

          
            

          

        

        
           

        

      

    

    

    
      
        	
                Trademark Name

              	 
      	
                Country

              	 
      	
                Status

              	 
      	
                Our File No.

              	 
      	
                Appln. Number

                Appln Date

              	 
      	
                Reg. Number

                Reg. Date

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                Hong
      Kong

              	 
      	
                Registered

              	 
      	
                202170-00052

              	 
      	
                1550/88

                26-Mar-88

              	 
      	
                1550/88

                26-Mar-88

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                Italy

              	 
      	
                Registered

              	 
      	
                202170-00055

              	 
      	
                19689C/88

                14-Apr-88

              	 
      	
                524936

                14-Apr-88

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                Japan

              	 
      	
                Registered

              	 
      	
                202170-00058

              	 
      	
                30995/88

                22-Mar-88

              	 
      	
                2217906

                27-Mar-90

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                Korea,
      South

              	 
      	
                Registered

              	 
      	
                202170-00061

              	 
      	
                88-7552

                28-Mar-88

              	 
      	
                172111

                14-Jun-89

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                Singapore

              	 
      	
                Registered

              	 
      	
                202170-00431

              	 
      	
                T97/10282G

                20-Aug-97

              	 
      	
                T97/10282G

                20-Aug-97

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                Taiwan

              	 
      	
                Registered

              	 
      	
                202170-00068

              	 
      	
                77015842

                14-Apr-88

              	 
      	
                428088

                16-Jan-89

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                United
      Kingdom

              	 
      	
                Registered

              	 
      	
                202170-00074

              	 
      	
                1339056

                21-Mar-88

              	 
      	
                1339056

                21-Mar-88

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                United
      States

              	 
      	
                Registered

              	 
      	
                202170-00009

              	 
      	
                156932

                30-Jan-78

              	 
      	
                1109952

                26-Dec-78

              
	
                MIGHTY
      CHEF

              	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                United
      States

              	 
      	
                Registered

              	 
      	
                202170-00444

              	 
      	
                75/483842

                12-May-98

              	 
      	
                2296982

                30-Nov-99

              

      

    

    

    
      
        
           

        

        
          39

          
            

          

        

        
           

        

      

    

    

    
      
        
          	
                  Trademark Name

                	 
      	
                  Country

                	 
      	
                  Status

                	 
      	
                  Our File No.

                	 
      	
                  Appln. Number

                  Appln Date

                	 
      	
                  Reg. Number

                  Reg. Date

                
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                  MM
      & DESIGN

                	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                  Canada

                	 
      	
                  Registered

                	 
      	
                  202170-00040

                	 
      	
                  624895

                  07-Feb-89

                	 
      	
                  376714

                  07-Dec-90

                
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                  Japan

                	 
      	
                  Registered

                	 
      	
                  202170-00060

                	 
      	
                  023028/1989

                  01-Mar-89

                	 
      	
                  2442317

                  31-Aug-92

                
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                  MM
      AND DESIGN

                	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                  Australia

                	 
      	
                  Registered

                	 
      	
                  202170-00036

                	 
      	
                  503554

                  25-Jan-89

                	 
      	
                  A503554

                  25-Jan-89

                
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                  Finland

                	 
      	
                  Registered

                	 
      	
                  202170-00045

                	 
      	
                  398/89

                  26-Jan-89

                	 
      	
                  110298

                  07-May-91

                
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                  France

                	 
      	
                  Registered

                	 
      	
                  202170-00048

                	 
      	
                  106280

                  27-Jan-89

                	 
      	
                  1620506

                  27-Jan-89

                
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                  Hong
      Kong

                	 
      	
                  Registered

                	 
      	
                  202170-00054

                	 
      	
                  1038/89

                  25-Jan-89

                	 
      	
                  B1773/90

                  25-Jan-89

                
	 	 	 	 	 	 	 	 	 	 	 
	 
      	 
      	
                  Italy

                	 
      	
                  Registered

                	 
      	
                  202170-00057

                	 
      	
                  17919C/89

                  16-Feb-89

                	 
      	
                  0554363

                  16-Feb-89

                
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                  Korea,
      South

                	 
      	
                  Registered

                	 
      	
                  202170-00064

                	 
      	
                  89/2349

                  02-Feb-89

                	 
      	
                  186242

                  29-Dec-89

                
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                  Spain

                	 
      	
                  Registered

                	 
      	
                  202170-00067

                	 
      	
                  1305365

                  27-Feb-89

                	 
      	
                  1305365

                  05-Sep-90

                
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                  Taiwan

                	 
      	
                  Registered

                	 
      	
                  202170-00072

                	 
      	
                  78003051

                	 
      	
                  451408

                  15-Aug-89

                

        

      

    

    

    
      
        
           

        

        
          40

          
            

          

        

        
           

        

      

    

    

    
      
        	
                Trademark Name

              	 
      	
                Country

              	 
      	
                Status

              	 
      	
                Our File No.

              	 
      	
                Appln. Number

                Appln Date

              	 
      	
                Reg. Number

                Reg. Date

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                United
      Kingdom

              	 
      	
                Registered

              	 
      	
                202170-00076

              	 
      	
                1370981

                17-Oct-88

              	 
      	
                1370981

                17-Oct-18

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                United
      States

              	 
      	
                Registered

              	 
      	
                202170-00032

              	 
      	
                758724

                20-Oct-88

              	 
      	
                1570660

                12-Dec-89

              

      

    

    

    
      
        
           

        

        
          41

          
            

          

        

        
           

        

      

    

    

    
      
        
          
            
              
                	
                        Trademark Name

                      	 
      	
                        Country

                      	 
      	
                        Status

                      	 
      	
                        Our File No.

                      	 
      	
                        Appln. Number

                        Appln Date

                      	 
      	
                        Reg. Number

                        Reg. Date

                      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                        MM
      Logo

                      	 
      	
                        China

                      	 
      	
                        Registered

                      	 
      	
                        202170-00433

                      	 
      	
                        970078647

                        30-Jul-97

                      	 
      	
                        1207383

                        14-Sep-98

                      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                        Egypt

                      	 
      	
                        Pending

                      	 
      	
                        202170-00434

                      	 
      	
                        108240

                        08-Jul-97

                      	 
      	 
      
	 	 	 	 	 	 	 	 	 	 	 
	 
      	 
      	
                        Mexico

                      	 
      	
                        Registered

                      	 
      	
                        202170-00435

                      	 
      	
                        301000

                        10-Jul-97

                      	 
      	
                        629295

                        26-Oct-99

                      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                        Philippines

                      	 
      	
                        Pending

                      	 
      	
                        202170-00438

                      	 
      	
                        4-1998-00590

                        28-Jan-98

                      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                        Singapore

                      	 
      	
                        Pending

                      	 
      	
                        202170-00436

                      	 
      	
                        S/10283/97

                        20-Aug-97

                      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                        Thailand

                      	 
      	
                        Registered

                      	 
      	
                        202170-00437

                      	 
      	
                        349602

                        27-Nov-97

                      	 
      	
                        TM90663

                        26-Nov-97

                      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                        MMOCO
      & DESIGN

                      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                        United
      States

                      	 
      	
                        Registered

                      	 
      	
                        202170-00026

                      	 
      	
                        254591

                        10-Sep-27

                      	 
      	
                        237729

                        17-Jan-88

                      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                        United
      States

                      	 
      	
                        Registered

                      	 
      	
                        202170-00030

                      	 
      	
                        117796

                        13-Apr-61

                      	 
      	
                        731845

                        22-May-82

                      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                        PACESETTER

                      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                        Australia

                      	 
      	
                        Registered

                      	 
      	
                        202170-00035

                      	 
      	
                        438163

                        16-Dec-85

                      	 
      	
                        A438163

                        16-Dec-85

                      

              

            

          

        

      

    

    

    
      
        
           

        

        
          42

          
            

          

        

        
           

        

      

    

    

    
      
        	
                Trademark Name

              	 
      	
                Country

              	 
      	
                Status

              	 
      	
                Our File No.

              	 
      	
                Appln. Number

                Appln Date

              	 
      	
                Reg. Number

                Reg. Date

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                Canada

              	 
      	
                Registered

              	 
      	
                202170-00039

              	 
      	
                554407

                17-Dec-85

              	 
      	
                334986

                04-Dec-87

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                Germany

              	 
      	
                Registered

              	 
      	
                202170-00050

              	 
      	
                M57720/11

                05-Dec-85

              	 
      	
                1094322

                23-Jul-86

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                Japan

              	 
      	
                Registered

              	 
      	
                202170-00059

              	 
      	
                122789/85

                10-Dec-85

              	 
      	
                2145823

                23-Jun-89

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                United
      States

              	 
      	
                Registered

              	 
      	
                202170-00031

              	 
      	
                311746

                26-May-81

              	 
      	
                1220743

                21-Dec-82

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                ROTOGAGE

              	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                United
      States

              	 
      	
                Registered

              	 
      	
                202170-00085

              	 
      	
                186141

                06-Feb-64

              	 
      	
                778751

                28-Oct-64

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                SECOTAINER

              	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                United
      States

              	 
      	
                Registered

              	 
      	
                202170-00293

              	 
      	
                170267

                24-May-91

              	 
      	
                1730906

                10-Nov-92

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                SOUTH
      BEND

              	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                United
      States

              	 
      	
                Registered

              	 
      	
                202170-00078

              	 
      	
                434743

                05-Sep-72

              	 
      	
                990159

                06-Aug-74

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                TOASTMASTER

              	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                Philippines

              	 
      	
                Pending

              	 
      	
                202170-00440

              	 
      	
                4-2000-02523

                30-Mar-00

              	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	
                  

              	
                United
      States

              	
                  

              	
                Registered

              	
                  

              	
                202170-00112

              	
                  

              	
                76234

                22-Jun-59

              	
                  

              	
                699340

                14-Jun-60

              

      

    

    

    
      
        
           

        

        
          43

          
            

          

        

        
           

        

      

    

    

    MIDDLEYBY
MARSHALL, INC.

    Active
Patents By Title

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              
                                                
                                                  
                                                    
                                                      
                                                        
                                                          
                                                            	
                                                                    Title

                                                                  	 
      	
                                                                    Case No.

                                                                  	 
      	
                                                                    Country Name

                                                                  	 
      	
                                                                    Status

                                                                  	 
      	
                                                                    Appln.

                                                                    Number

                                                                    Appln Date

                                                                  	 
      	
                                                                    Patent No.

                                                                    Issue Date

                                                                  	 
      	
                                                                    Expiration

                                                                    Date

                                                                  
	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                                                    BAKING
      OVEN

                                                                  	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                                                    202170-00022

                                                                  	 
      	
                                                                    United
      States of America

                                                                  	 
      	
                                                                    Granted

                                                                  	 
      	
                                                                    07/285,287

                                                                    15-Dec-1997

                                                                  	 
      	
                                                                    4,954,392

                                                                    23-Oct-1990

                                                                  	 
      	
                                                                    23-Oct-2007

                                                                  
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                                                                    CONVEYOR
      OVEN CONTROL

                                                                  	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                                                    202870-00245

                                                                  	 
      	
                                                                    United
      States of America

                                                                  	 
      	
                                                                    Granted

                                                                  	 
      	
                                                                    07/753,426

                                                                    30-Aug-1991

                                                                  	 
      	
                                                                    5,197,375

                                                                    30-Mar-1993

                                                                  	 
      	
                                                                    30-Aug-2011

                                                                  
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                                                                    CONVEYOR
      OVEN HAVING AN ENERGY MANAGEMENT SYSTEM

                                                                    FOR
      A MODULATED GAS FLOW

                                                                  	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                                                    202170-00481

                                                                  	 
      	
                                                                    United
      States of America

                                                                  	 
      	
                                                                    Pending

                                                                  	 
      	
                                                                    09/883,786

                                                                    16-Jun-2001

                                                                  	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                                                                    CONVEYOR
      OVEN WITH MODULATED GAS FLOW

                                                                  	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                                                    202170-00479

                                                                  	 
      	
                                                                    United
      States of America

                                                                  	 
      	
                                                                    Pending

                                                                  	 
      	
                                                                    09/780,194

                                                                    12-Jan-2001

                                                                  	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                                                                    CONVEYOR
      TOASTER OVEN

                                                                  	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                                                    202170-004115

                                                                  	 
      	
                                                                    Japan

                                                                  	 
      	
                                                                    Granted

                                                                  	 
      	
                                                                    327239/95

                                                                    15-Dec-1995

                                                                  	 
      	
                                                                    3050371

                                                                    21-Apr-2000

                                                                  	 
      	
                                                                    15-Dec-2015

                                                                  
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                                                    202170-00417

                                                                  	 
      	
                                                                    Mexico

                                                                  	 
      	
                                                                    Granted

                                                                  	 
      	
                                                                    95
      04140

                                                                    29-Sep-1995

                                                                  	 
      	
                                                                    188203

                                                                    10-Mar-1998

                                                                  	 
      	
                                                                    29-Sep-2015

                                                                  
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                                                    202170-00395

                                                                  	 
      	
                                                                    United
      States of America

                                                                  	 
      	
                                                                    Granted

                                                                  	 
      	
                                                                    08/382,886

                                                                    02-Feb-1995

                                                                  	 
      	
                                                                    5,473,875

                                                                    12-Dec-1995

                                                                  	 
      	
                                                                    02-Feb-2015

                                                                  

                                                          

                                                        

                                                      

                                                    

                                                  

                                                

                                              

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    

    
      
        
           

        

        
          44

          
            

          

        

        
           

        

      

    

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              
                                                
                                                  
                                                    
                                                      
                                                        
                                                          	
                                                                  Title

                                                                	 
      	
                                                                  Case No.

                                                                	 
      	
                                                                  Country Name

                                                                	 
      	
                                                                  Status

                                                                	 
      	
                                                                  Appln.

                                                                  Number

                                                                  Appln Date

                                                                	 
      	
                                                                  Patent No.

                                                                  Issue Date

                                                                	 
      	
                                                                  Expiration

                                                                  Date

                                                                
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                                                                  HIGH
      EFFICIENCY CONVEYOR OVEN

                                                                	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                                                  202170-9001

                                                                	 
      	
                                                                  United
      States of America

                                                                	 
      	
                                                                  Pending

                                                                	 
      	
                                                                  09/993,980

                                                                  14-Nov-2001

                                                                	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                                                                  HUMPBACK
      OVEN-BROILER

                                                                	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                                                  202170-00155

                                                                	 
      	
                                                                  Canada

                                                                	 
      	
                                                                  Granted

                                                                	 
      	
                                                                  454383

                                                                  15-May-1984

                                                                	 
      	
                                                                  1211145

                                                                  09-Sep-1986

                                                                	 
      	
                                                                  09-Sep-2003

                                                                
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                                                                  LOW
      PROFILE OVEN

                                                                	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                                                  202170-00296

                                                                	 
      	
                                                                  United
      States of America

                                                                	 
      	
                                                                  Granted

                                                                	 
      	
                                                                  07/691,281

                                                                  29-May-1992

                                                                	 
      	
                                                                  5,277,105

                                                                  11-Nov-1994

                                                                	 
      	
                                                                  29-May-2012

                                                                
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                                                                  LOW
      PROFILE STACKABLE CONVEYOR OVEN

                                                                	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                                                  202170-00332

                                                                	 
      	
                                                                  Australia

                                                                	 
      	
                                                                  Granted

                                                                	 
      	
                                                                  39942/93

                                                                  31-May-1993

                                                                	 
      	
                                                                  658743

                                                                  31-May-1993

                                                                	 
      	
                                                                  31-May-2013

                                                                
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                                                  202170-00333

                                                                	 
      	
                                                                  Canada

                                                                	 
      	
                                                                  Pending

                                                                	 
      	
                                                                  2097253

                                                                  28-May-1993

                                                                	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                                                  202170-00334

                                                                	 
      	
                                                                  Japan

                                                                	 
      	
                                                                  Granted

                                                                	 
      	
                                                                  5-151422

                                                                  29-May-1993

                                                                	 
      	
                                                                  3068732

                                                                  19-May-2000

                                                                	 
      	
                                                                  29-May-2013

                                                                
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                                                                  METHOD
      OF INFRARED TUNNEL OVEN COOKING OF FOOD PRODUCTS

                                                                	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                                                  202170-00308

                                                                	 
      	
                                                                  United
      States of America

                                                                	 
      	
                                                                  Granted

                                                                	 
      	
                                                                  06/778,350

                                                                  24-Dec-1985

                                                                	 
      	
                                                                  4,664,823

                                                                  12-May-1987

                                                                	 
      	
                                                                  17-May-2004

                                                                

                                                        

                                                      

                                                    

                                                  

                                                

                                              

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    

    
      
        
           

        

        
          45

          
            

          

        

        
           

        

      

    

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              
                                                
                                                  
                                                    
                                                      
                                                        
                                                          
                                                            
                                                              	
                                                                      Title

                                                                    	 
      	
                                                                      Case No.

                                                                    	 
      	
                                                                      Country Name

                                                                    	 
      	
                                                                      Status

                                                                    	 
      	
                                                                      Appln.

                                                                      Number

                                                                      Appln Date

                                                                    	 
      	
                                                                      Patent No.

                                                                      Issue Date

                                                                    	 
      	
                                                                      Expiration

                                                                      Date

                                                                    
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                                                                      OVEN
      CONTROL

                                                                    	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                                                      202170-00315

                                                                    	 
      	
                                                                      United
      States of America

                                                                    	 
      	
                                                                      Granted

                                                                    	 
      	
                                                                      07/940,791

                                                                      04-Sep-1992

                                                                    	 
      	
                                                                      5,253,564

                                                                      19-Oct-1993

                                                                    	 
      	
                                                                      30-Aug-2011

                                                                    
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                                                                      RESTAURANT
      TYPE GRIDDLE WITH MODULAR CONSTRUCTION

                                                                      AND
      WHICH IS LOAD SENSITIVE

                                                                    	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                                                      202170-00399

                                                                    	 
      	
                                                                      Mexico

                                                                    	 
      	
                                                                      Granted

                                                                    	 
      	
                                                                      850445

                                                                      12-Jan-1995

                                                                    	 
      	
                                                                      188891

                                                                      11-Mar-1996

                                                                    	 
      	
                                                                      12-Jan-2015

                                                                    
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                                                      202170-00389

                                                                    	 
      	
                                                                      United
      States of America

                                                                    	 
      	
                                                                      Granted

                                                                    	 
      	
                                                                      06/292,738

                                                                      18-Aug-1994

                                                                    	 
      	
                                                                      5,413,032

                                                                      09-May-1995

                                                                    	 
      	
                                                                      18-Aug-2014

                                                                    
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                                                                      SELF-CLEANING
      CONVEYOR OVEN

                                                                    	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                                                      202170-9002

                                                                    	 
      	
                                                                      United
      States of America

                                                                    	 
      	
                                                                      Pending

                                                                    	 
      	
                                                                      60/313,979

                                                                      21-Aug-2001

                                                                    	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                                                                      SMALL
      CONVEYOR TOASTER OVEN

                                                                    	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                                                      202170-00450

                                                                    	 
      	
                                                                      Mexico

                                                                    	 
      	
                                                                      Pending

                                                                    	 
      	
                                                                      98
      10082

                                                                      30-Nov-1998

                                                                    	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                                                      202170-00439

                                                                    	 
      	
                                                                      United
      States of America

                                                                    	 
      	
                                                                      Granted

                                                                    	 
      	
                                                                      09/019,578

                                                                      06-Feb-1998

                                                                    	 
      	
                                                                      5,157,602

                                                                      05-Dec-2009

                                                                    	 
      	
                                                                      08-Feb-2018

                                                                    
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                                                                      SMALL
      FAST ACTING CONVEYOR TOASTER OVEN

                                                                    	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                                                      202170-00475

                                                                    	 
      	
                                                                      United
      States of America

                                                                    	 
      	
                                                                      Granted

                                                                    	 
      	
                                                                      09/478,761

                                                                      06-Jun-2000

                                                                    	 
      	
                                                                      6,252,201

                                                                      26-Jun-2001

                                                                    	 
      	
                                                                      08-Jun-2020

                                                                    
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                                                                      TUNNEL
      OVEN

                                                                    	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	
                                                                        

                                                                    	
                                                                      202170-80310

                                                                    	
                                                                        

                                                                    	
                                                                      United
      States of America

                                                                    	
                                                                        

                                                                    	
                                                                      Granted

                                                                    	
                                                                        

                                                                    	
                                                                      06/611,196

                                                                      17-Mar-1984

                                                                    	
                                                                        

                                                                    	
                                                                      4,554,437

                                                                      19-May-1985

                                                                    	
                                                                        

                                                                    	
                                                                      17-Mar-2004

                                                                    

                                                            

                                                          

                                                        

                                                      

                                                    

                                                  

                                                

                                              

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    

    
      
        
           

        

        
          46

          
            

          

        

        
           

        

      

    

    

    Active Southbend Trademarks

    

    
      
        
          
            
              
                
                  
                    	
                            Matter

                            ID

                          	 
      	
                            Client

                          	 
      	
                            Title of Mark

                          	 
      	
                            Status

                          	 
      	
                            Registration

                            #

                          	 
      	
                            Serial #

                          	 
      	
                            Reg Date

                          	 
      	
                            Goods

                          
	
                            3867-016

                          	 
      	
                            Southbend

                          	 
      	
                            MARATHONER

                          	 
      	
                            registered

                          	 
      	
                            2002543

                          	 
      	
                            74/680673

                          	 
      	
                            9/24/1998

                          	 
      	
                            convection
      ovens for commercial use

                          
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                            3867-017

                          	 
      	
                            Southbend

                          	 
      	
                            MARATHONER
      GOLD

                          	 
      	
                            registered

                          	 
      	
                            2002539

                          	 
      	
                            74/679808

                          	 
      	
                            9/24/1998

                          	 
      	
                            convection
      ovens for commercial use

                          
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                            3867-018

                          	 
      	
                            Southbend

                          	 
      	
                            PYROMAX

                          	 
      	
                            registered

                          	 
      	
                            2079824

                          	 
      	
                            74/679804

                          	 
      	
                            7/15/1997

                          	 
      	
                            open
      top gas grill

                          
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                            3867-019

                          	 
      	
                            Southbend

                          	 
      	
                            SteamMaster

                          	 
      	
                            Registered

                          	 
      	
                            1833942

                          	 
      	
                            74/58892

                          	 
      	
                            2/5/1991

                          	 
      	
                            counter
      top steamer for cooking and heating food

                          
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                            3867-020

                          	 
      	
                            Southbend

                          	 
      	
                            SteamMaster

                          	 
      	
                            registered

                          	 
      	
                            1670790

                          	 
      	
                            74/53756

                          	 
      	
                            12/31/1991

                          	 
      	
                            commercial
      cooking equipment namely, counter steamers, etc. (see
  file)

                          
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                            3867-021

                          	 
      	
                            Southbend

                          	 
      	
                            SOUTHBEND

                          	 
      	
                            Registered

                          	 
      	
                            990159

                          	 
      	
                            72/434743

                          	 
      	
                            8/8/1974

                          	 
      	
                            COOKING
      AND SERVING APPARATUS FOR COMMERCIAL USE-NAMELY, RANGES, FRYERS, BROILERS,
      GAS AND ELECTRIC OVENS, GRIDDLES, BRAISING PANS AND HOT
    PLATES

                          
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                            3867-022

                          	 
      	
                            Southbend

                          	 
      	
                            FLEX-BROILER

                          	 
      	
                            Registered

                          	 
      	
                            1822777

                          	 
      	
                            74/53383

                          	 
      	
                            6/9/1992

                          	 
      	
                            commercial
      cooking equipment, namely,
charbroilers

                          

                  

                

              

            

          

        

      

    

    

    
      
        
           

        

        
          47

          
            

          

        

        
           

        

      

    

    

    Active Southbend Trademarks

    

    
      
        
          	
                  Matter

                  ID

                	 
      	
                  Client

                	 
      	
                  Title of Mark

                	 
      	
                  Status

                	 
      	
                  Registration

                  #

                	 
      	
                  Serial #

                	 
      	
                  Reg Date

                	 
      	
                  Goods

                
	
                  3867-028

                	
                    

                	
                  Southbend

                	
                    

                	
                  SILVERSTAR

                	
                    

                	
                  registered

                	
                    

                	
                  2063466

                	
                    

                	
                  75/137904

                	
                    

                	
                  5/20/1997

                	
                    

                	
                  convection
      ovens

                

        

      

    

    

    
      
        
           

        

        
          48

          
            

          

        

        
           

        

      

    

    

    Active Southbend
Patents

    

    
      
        	
                U.S. Patent No.

              	 
      	
                Title

              	 
      	
                Issue Date

              	 
      	
                C&B Ref. No.

              
	
                5,381,749

              	 
      	
                Gas
      Fired Convection Oven

              	 
      	
                11/8/1994

              	 
      	
                3867-008

              
	
                5,460,157

              	 
      	
                Gas
      Fired Convection Oven

              	 
      	
                10/24/1995

              	 
      	
                3867-003

              
	
                5,601,070

              	 
      	
                Convection
      Oven

              	 
      	
                2/11/1997

              	 
      	
                3867-014

              
	
                5,619,983

              	 
      	
                Combination
      Convection/Steamer Oven

              	 
      	
                4/15/1997

              	 
      	
                3867-011

              
	
                5,539,232

              	 
      	
                Gas
      Burner

              	 
      	
                6/17/1997

              	 
      	
                3867-015

              
	
                5,655,511

              	 
      	
                Gas-Fired
      Convection Oven

              	 
      	
                8/12/1997

              	 
      	
                3867-030

              
	
                5,727,539

              	 
      	
                Convection
      Oven with Multi-Level Heating Chamber

              	 
      	
                3/17/1998

              	 
      	
                3867-026

              
	
                5,864,120

              	 
      	
                Convection
      Oven with Modular Control Panel

              	 
      	
                1/26/1999

              	 
      	
                3867-031

              
	
                5,859,812

              	 
      	
                Pressure
      Regulator for Steam Oven

              	 
      	
                2/9/1999

              	 
      	
                3867-034

              
	
                5,988,388

              	 
      	
                Deformable
      Corrugated Layer for Heating Block

              	 
      	
                10/19/1999

              	 
      	
                3867-036

              
	
                6,107,605

              	 
      	
                Pressure
      Regulator for Steam Oven

              	 
      	
                8/22/2000

              	 
      	
                3867-040

              
	
                6,175,100

              	 
      	
                Pressure
      Regulator for Steam Oven

              	 
      	
                1/16/2001

              	 
      	
                3867-046

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                09/904,391

                (Pending

                Application)

              	
                  

              	
                Gas-Fired
      Cooking Device With Griddle Surface Heated by Heat Bank

              	
                  

              	
                7/12/2001

                (Filing
      Date)

              	
                  

              	
                3867-052

              

      

    

    

    
      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

    

    

    EXHIBIT
D

     

    COPY
OF U.S. PLEDGE AGREEMENT

     

    (see
attached)

    

    
      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

    

    

    U.S.
PLEDGE AGREEMENT

     

    THIS U.S.
PLEDGE AGREEMENT (this “Agreement”) dated as
of December 21, 2001 is among THE MIDDLEBY CORPORATION (the “Parent”), MIDDLEBY
MARSHALL INC. (the “Borrower”), each
subsidiary of the Borrower from time to time party hereto (together with the
Parent and the Borrower, individually each a “Pledgor” and
collectively, the “Pledgors”), and BANK
OF AMERICA, N.A. (“Bank of America”), as
Administrative Agent (as defined below) for the Lenders (as defined
below).

     

    WITNESSETH:

     

    WHEREAS,
the Parent, the Borrower, various financial institutions (the “Lenders”) and Bank of
America, as administrative agent for the Lenders (in such capacity, the “Administrative
Agent”), have entered into a Credit Agreement dated as of December 21,
2001 (as amended, restated or otherwise modified from time to time, the “Credit
Agreement”);

     

    WHEREAS,
the Parent has guaranteed all of the obligations of the Borrower under or in
connection with the Credit Agreement and certain hedging obligations pursuant to
the guaranty of the Parent set forth in Section 13 of the Credit Agreement (the
“Parent
Guaranty”), and each other Pledgor other than the Borrower has guaranteed
all of the obligations of the Borrower under or in connection with the Credit
Agreement and certain hedging obligations pursuant to a Subsidiary Guaranty
dated as of December 21, 2001 (the “Subsidiary
Guaranty”);

     

    WHEREAS,
each Pledgor will benefit from the making of loans and the issuance of letters
of credit pursuant to the Credit Agreement; and

     

    WHEREAS,
the obligations of Borrower and the Parent under the Credit Agreement and the
other Loan Documents (as defined in the Credit Agreement) and the obligation of
each other Pledgor under the Subsidiary Guaranty are to be secured pursuant to
this Agreement;

     

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

     

    1.           
Definitions.  When
used herein, (a) the capitalized terms used but not defined have the meanings
assigned to such terms in the Credit Agreement and (b) the following terms have
the following meanings (such meanings to be applicable to both the singular and
plural forms of such terms):

     

    Administrative Agent
- see the recitals.

     

    Agreement - see the
introductory paragraph.

     

    Bank of America - see
the introductory paragraph.

     

    Borrower - see the
introductory paragraph.

     

    Collateral - see
Section
2.

    

    
      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

    

    

    Costs and Expenses
means, with respect to any Pledgor, all reasonable out-of-pocket costs and
expenses (including reasonable attorneys’ fees and legal expenses) incurred by
the Administrative Agent in connection with (i) such Pledgor’s execution,
delivery and performance of this Agreement, (ii) protecting, preserving or
maintaining any Collateral of such Pledgor, (iii) collecting the Liabilities of
such Pledgor and (iv) enforcing any rights of the Administrative Agent hereunder
in respect of the Collateral of such Pledgor.

     

    Credit Agreement -
see the recitals.

     

    Default means the
occurrence of any of the following events:  (i) any Unmatured Event of
Default with respect to the Parent or the Borrower under Section 12.1.3 of the
Credit Agreement, (ii) any Event of Default or (iii) any warranty of any Pledgor
herein is untrue or misleading in any material respect and, as a result thereof,
the Administrative Agent’s security interest in any material portion of the
Collateral is not perfected or the Administrative Agent’s rights and remedies
with respect to any material portion of the Collateral are materially impaired
or otherwise materially adversely affected.

     

    Issuer means the
issuer of any of the shares of stock or other securities representing all or any
of the Collateral.

     

    Lender Party means
each Lender and any Affiliate of a Lender which is a party to a Hedging
Agreement with the Borrower.

     

    Lenders - see the
recitals.

     

    Liabilities means,
(a) with respect to the Borrower, (i) all obligations of the Borrower under or
in connection with the Credit Agreement or any other Loan Document (including
this Agreement) and (ii) all Hedging Obligations of the Borrower to any Lender
Party, (b) with respect to the Parent, all obligations of the Parent under or in
connection with the Credit Agreement or any other Loan Document (including this
Agreement) and (c) with respect to any other Pledgor, all obligations of such
Pledgor under or in connection with the Subsidiary Guaranty, as the same may be
amended, modified, extended or renewed from time to time.

     

    Parent - see the
recitals.

     

    Parent Guaranty - see
the recitals.

     

    Pledgor - see the
introductory paragraph.

     

    Subsidiary Guaranty -
see the recitals.

     

    2.           Pledge.  As
security for the payment of all Liabilities, each Pledgor hereby pledges to the
Administrative Agent for the benefit of the Lender Parties, and grants to the
Administrative Agent for the benefit of the Lender Parties a continuing security
interest in, all of the following:

     

    
      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

    

    

    A.           All
of the shares of stock and other securities described in Schedule I opposite
the name of such Pledgor, all of the certificates and/or instruments
representing such shares of stock and other securities, and all cash,
securities, dividends, rights and other property at any time and from time to
time received, receivable or otherwise distributed in respect of or in exchange
for any or all of such shares or other securities;

     

    B.           All
additional shares of stock of any of the Issuers listed in Schedule I opposite
the name of such Pledgor at any time and from time to time acquired by the
Pledgor in any manner, all of the certificates representing such additional
shares, and all cash, securities, dividends, rights and other property at any
time and from time to time received, receivable or otherwise distributed in
respect of or in exchange for any or all of such shares;

     

    C.           All
other property hereafter delivered to the Administrative Agent by such Pledgor
in substitution for or in addition to any of the foregoing, all certificates and
instruments representing or evidencing such property, and all cash, securities,
interest, dividends, rights and other property at any time and from time to time
received, receivable or otherwise distributed in respect of or in exchange for
any or all thereof; and

     

    D.           All
products and proceeds of all of the foregoing.

     

    All of
the foregoing are herein collectively called the “Collateral”.

     

    Each
Pledgor agrees to deliver to the Administrative Agent, promptly upon receipt and
in due form for transfer (i.e., endorsed in blank or accompanied by stock or
bond powers executed in blank), any Collateral (other than dividends or payments
which such Pledgor is entitled to receive and retain pursuant to Section 5 hereof)
which may at any time or from time to time be in or come into the possession or
control of such Pledgor; and prior to the delivery thereof to the Administrative
Agent, such Collateral shall be held by such Pledgor separate and apart from its
other property and in express trust for the Administrative Agent.

     

    3.           Warranties; Further
Assurances.  Each Pledgor warrants to the Administrative Agent,
as to its Collateral, for the benefit of each Lender Party that:  (a)
such Pledgor is (or at the time of any future delivery, pledge, assignment or
transfer thereof will be) the legal and equitable owner of such Pledgor’s
Collateral free and clear of all liens, security interests and encumbrances of
every description whatsoever other than (i) the security interest created
hereunder and (ii) inchoate tax and ERISA liens; (b) to the extent such
Pledgor’s Collateral is represented by certificated securities, the pledge and
delivery of the Collateral pursuant to this Agreement will create a valid
perfected security interest in such Collateral in favor of the Administrative
Agent; (c) all shares of stock referred to in Schedule I opposite
the name of such Pledgor are duly authorized, validly issued, fully paid and
non-assessable; (d) as to each Issuer whose name appears in Schedule I opposite
the name of such Pledgor, such Pledgor’s Collateral represents on the date
hereof not less than the applicable percent (as shown in Schedule I) of the
total shares of capital stock issued and outstanding of such Issuer; and (e) as
of the date hereof, the information contained in Schedule I opposite
the name of such Pledgor is true and accurate in all respects.

    

    
      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

    

    

    So long
as any of the Liabilities shall be outstanding or any commitment shall exist on
the part of any Lender Party with respect to the creation of any Liabilities,
each Pledgor (i) shall not, except as permitted by the Credit Agreement or with
the express prior written consent of the Administrative Agent, sell, assign,
exchange, pledge or otherwise transfer, encumber, or grant any option, warrant
or other right to purchase the stock of any Issuer which is pledged hereunder;
(ii) shall deliver such Uniform Commercial Code financing statements and other
documents (and pay the costs of filing and recording or re-filing and
re-recording the same in all public offices reasonably deemed necessary or
appropriate by the Administrative Agent) and do such other acts and things, all
as the Administrative Agent may from time to time reasonably request, to
establish and maintain a valid, perfected security interest in such Pledgor’s
Collateral (free of all other liens, claims and rights of third parties
whatsoever) to secure the performance and payment of the Liabilities (and by its
signature hereto, such Pledgor authorizes the Administrative Agent to file any
financing statements without the signature of such Pledgor); (iii) will execute
and deliver to the Administrative Agent such stock powers and similar documents
relating to such Pledgor’s Collateral, reasonably satisfactory in form and
substance to the Administrative Agent, as the Administrative Agent may
reasonably request; and (iv) will furnish the Administrative Agent or any Lender
Party such information concerning such Pledgor’s Collateral as the
Administrative Agent or such Lender Party may from time to time reasonably
request, and will permit the Administrative Agent or any Lender Party or any
designee of the Administrative Agent or such Lender Party, from time to time at
reasonable times and on reasonable notice (or at any time without notice during
the existence of a Default), to inspect, audit and make copies of and extracts
from all records and all other papers in the possession of such Pledgor which
pertain to such Pledgor’s Collateral, and will, upon request of the
Administrative Agent at any time when a Default has occurred and is continuing,
deliver to the Administrative Agent all of such records and papers.

     

    4.           Holding in Name of
Administrative Agent, etc.  The Administrative Agent may from
time to time after the occurrence and during the continuance of a Default,
without notice to the Pledgors, take all or any of the following
actions:  (a) transfer all or any part of the Collateral into the name
of the Administrative Agent or any nominee or sub-agent for the Administrative
Agent, with or without disclosing that such Collateral is subject to the lien
and security interest hereunder, (b) appoint one or more sub-agents or nominees
for the purpose of retaining physical possession of the Collateral, (c) notify
the parties obligated on any of the Collateral to make payment to the
Administrative Agent of any amounts due or to become due thereunder, (d) endorse
any checks, drafts or other writings in the name of any Pledgor to allow
collection of the Collateral, (e) enforce collection of any of the Collateral by
suit or otherwise, and surrender, release or exchange all or any part thereof,
or compromise or renew for any period (whether or not longer than the original
period) any obligations of any nature of any party with respect thereto, and (f)
take control of any proceeds of the Collateral.

     

    5.           Voting Rights, Dividends,
etc.  (a) Notwithstanding certain provisions of Section 4 hereof, so
long as the Administrative Agent has not given the notice referred to in paragraph (b)
below:

     

    A.           The
Pledgors shall be entitled to exercise any and all voting or consensual rights
and powers and stock purchase or subscription rights (but any such exercise by
the Pledgors of stock purchase or subscription rights may be made only from
funds of the Pledgors not comprising part of the Collateral required to be
delivered to the Administrative Agent hereunder) relating or pertaining to the
Collateral or any part thereof for any purpose; provided that each
Pledgor agrees that it will not exercise any such right or power in any manner
which would violate this Agreement or any other Loan Document.

    

    
      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

    

    

    B.           The
Pledgors shall be entitled to receive and retain any and all lawful dividends
and other payments payable in respect of the Collateral which are paid in cash
by any Issuer if such dividends and other payments are permitted by the Credit
Agreement, but all dividends and distributions in respect of the Collateral or
any part thereof made in shares of stock or securities or other property or
representing any return of capital, whether resulting from a subdivision,
combination or reclassification of Collateral or any part thereof or received in
exchange for Collateral or any part thereof or as a result of any merger,
consolidation, acquisition or other exchange of assets to which any Issuer may
be a party or otherwise or as a result of any exercise of any stock purchase or
subscription right, shall be and become part of the Collateral hereunder and, if
received by any Pledgor, shall be forthwith delivered to the Administrative
Agent in due form for transfer (i.e., endorsed in blank or accompanied by stock
or bond powers executed in blank) to be held for the purposes of this
Agreement.

     

    C.           The
Administrative Agent shall execute and deliver, or cause to be executed and
delivered, to the applicable Pledgor, all such proxies, powers of attorney,
dividend orders and other instruments as such Pledgor may request for the
purpose of enabling such Pledgor to exercise the rights and powers which it is
entitled to exercise pursuant to clause (A) above and
to receive the dividends and payments which it is authorized to retain pursuant
to clause (B)
above.

     

    (b)  Upon
notice from the Administrative Agent during the existence of a Default, and so
long as the same shall be continuing, all rights and powers which the Pledgors
are entitled to exercise pursuant to Section 5(a)(A)
hereof, and all rights of the Pledgors to receive and retain dividends pursuant
to Section
5(a)(B) hereof, shall forthwith cease, and all such rights and powers
shall thereupon become vested in the Administrative Agent which shall have,
during the continuance of such Default, the sole and exclusive authority to
exercise such rights and powers and to receive such dividends and
payments.  Any and all money and other property paid over to or
received by the Administrative Agent pursuant to this paragraph (b) shall
be retained by the Administrative Agent as additional Collateral hereunder and
applied in accordance with the provisions hereof.

    

    
      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

    

    

    6.           Remedies.  During
the existence of a Default, the Administrative Agent may exercise from time to
time any rights and remedies available to it under the Uniform Commercial Code
as in effect in Illinois or otherwise available to it.  Without
limiting the foregoing, during the existence of a Default the Administrative
Agent (a) may, to the fullest extent permitted by applicable law, without
notice, advertisement, hearing or process of law of any kind, (i) sell any or
all of the Collateral, free of all rights and claims of any Pledgor therein and
thereto, at any public or private sale or brokers’ board and (ii) bid for and
purchase any or all of the Collateral at any such public sale and (b) shall have
the right, for and in the name, place and stead of the applicable Pledgor, to
execute endorsements, assignments, stock powers and other instruments of
conveyance or transfer with respect to all or any of the
Collateral.  Each Pledgor hereby expressly waives, to the fullest
extent permitted by applicable law, any and all notices, advertisements,
hearings or process of law in connection with the exercise by the Administrative
Agent of any of its rights and remedies during the continuance of a
Default.  Any notification of intended disposition of any of the
Collateral shall be deemed reasonably and properly given if given at least ten
(10) days before such disposition.  Any proceeds of any of the
Collateral may be applied by the Administrative Agent to the payment of Costs
and Expenses, and any balance of such proceeds may be applied by the
Administrative Agent toward the payment of such of the Liabilities, and in such
order of application, as the Administrative Agent may from time to time elect
(and, after payment in full of all Liabilities, any excess shall be delivered to
the applicable Pledgor or as a court of competent jurisdiction shall
direct).

     

    The
Administrative Agent is hereby authorized to comply with any limitation or
restriction in connection with any sale of Collateral as it may be advised by
counsel is necessary in order to (a) avoid any violation of applicable law
(including, without limitation, compliance with such procedures as may restrict
the number of prospective bidders and purchasers and/or further restrict such
prospective bidders or purchasers to persons or entities who will represent and
agree that they are purchasing for their own account for investment and not with
a view to the distribution or resale of such Collateral) or (b) obtain any
required approval of the sale or of the purchase by any governmental regulatory
authority or official, and each Pledgor agrees that such compliance shall not
result in such sale being considered or deemed not to have been made in a
commercially reasonable manner and that the Administrative Agent shall not be
liable or accountable to any Pledgor for any discount allowed by reason of the
fact that such Collateral is sold in compliance with any such limitation or
restriction.

     

    7.           General.  The
Administrative Agent shall be deemed to have exercised reasonable care in the
custody and preservation of the Collateral if it takes such action for that
purpose as the applicable Pledgor shall request in writing, but failure of the
Administrative Agent to comply with any such request shall not of itself be
deemed a failure to exercise reasonable care, and no failure of the
Administrative Agent to preserve or protect any rights with respect to the
Collateral against prior parties, or to do any act with respect to preservation
of the Collateral not so requested by any Pledgor, shall be deemed a failure to
exercise reasonable care in the custody or preservation of any
Collateral.

     

    No delay
on the part of the Administrative Agent in exercising any right, power or remedy
shall operate as a waiver thereof, and no single or partial exercise of any such
right, power or remedy shall preclude any other or further exercise thereof, or
the exercise of any other right, power or remedy.  No amendment,
modification or waiver of, or consent with respect to, any provision of this
Agreement shall be effective unless the same shall be in writing and signed and
delivered by the Administrative Agent, and then such amendment, modification,
waiver or consent shall be effective only in the specific instance and for the
specific purpose for which given.

     

    If any of
the Collateral shall be sold, transferred or otherwise disposed of by any
Pledgor in a transaction permitted by the Credit Agreement, then the
Administrative Agent, at the request and sole expense of such Pledgor, shall
execute and deliver to such Pledgor all releases and other documents reasonably
necessary for the release of Liens created hereby on such
Collateral.

    

    
      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

    

    

    This
Agreement shall remain in full force and effect until all Liabilities have been
paid in full (other than contingent indemnification liabilities not yet due and
payable) and all Commitments have terminated.  Upon any such
termination, the Administrative Agent will, upon any Pledgor’s request and at
such Pledgor’s sole expense, (i) deliver to such Pledgor, without any
representation, warranty or recourse of any kind whatsoever (other than that
there are no security interests, liens or encumbrances in favor of the
Administrative Agent), all of such Pledgor’s Collateral (including stock powers
and other documents) held by the Administrative Agent hereunder as shall not
have been sold or otherwise applied pursuant to the terms hereof, and (ii)
execute and deliver to such Pledgor such documents as such Pledgor shall
reasonably request to evidence such termination and the release of any security
interest granted hereby.

     

    All
obligations of the Pledgors and all rights, powers and remedies of the
Administrative Agent and the Lender Parties expressed herein are in addition to
all other rights, powers and remedies possessed by them, including, without
limitation, those provided by applicable law or in any other written instrument
or agreement relating to any of the Liabilities or any security
therefor.

     

    THIS
AGREEMENT IS GOVERNED BY THE LAWS OF THE STATE OF ILLINOIS WITHOUT REGARD TO
PRINCIPLES OF CONFLICTS OF LAW (EXCEPT 735 ILLINOIS COMPILED STATUTE
§105/5-5).  Wherever possible each provision of this Agreement shall
be interpreted in such manner as to be effective and valid under applicable law,
but if any provision of this Agreement shall be prohibited by or invalid under
such law, such provision shall be ineffective to the extent of such prohibition
or invalidity, without invalidating the remainder of such provision or the
remaining provisions of this Agreement.

     

    All
notices hereunder shall be in writing (including facsimile transmission) and
shall be sent to the applicable party at its address shown opposite its
signature hereto or at such other address as such party may, by written notice
to the other party, have designated as its address for such
purpose.  Notices sent by facsimile transmission shall be deemed to
have been given when sent with confirmation of receipt; notices sent by mail
shall be deemed to have been given five Business Days after the date when sent
by registered or certified mail, postage prepaid; and notices sent by hand
delivery or overnight courier shall be deemed to have been given when
received.

     

    This
Agreement shall be binding upon the Pledgors and the Administrative Agent and
their respective successors and assigns (provided that no Pledgor may assign its
obligations hereunder without the prior written consent of the Administrative
Agent), and shall inure to the benefit of each Pledgor and the Administrative
Agent and the successors and assigns of the Administrative Agent.

     

    This
Agreement may be executed in any number of counterparts and by the different
parties hereto on separate counterparts, and each such counterpart shall be
deemed an original but all such counterparts shall together constitute but one
and the same Agreement.  At any time after the date of this Agreement,
one or more additional Persons may become parties hereto by executing and
delivering to the Administrative Agent a counterpart of this Agreement, together
with a supplement to Schedule I hereto
setting forth all relevant information with respect to such party as of the date
of delivery, whereupon Schedule I hereto
shall be deemed to be amended automatically to incorporate such
information.  Immediately upon such execution and delivery (and
without any further action), each such additional Person will become a party to,
and will be bound by all of the terms of, this Agreement.

    

    
      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

    

    

    ANY
LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS
AGREEMENT OR ANY OTHER LOAN DOCUMENT, SHALL BE BROUGHT AND MAINTAINED
EXCLUSIVELY IN THE COURTS OF THE STATE OF ILLINOIS OR IN THE UNITED STATES
DISTRICT COURT FOR THE NORTHERN DISTRICT OF ILLINOIS; PROVIDED, HOWEVER, THAT ANY
SUIT SEEKING ENFORCEMENT AGAINST ANY COLLATERAL OR OTHER PROPERTY MAY BE
BROUGHT, AT THE ADMINISTRATIVE AGENT’S OPTION,  IN THE COURTS OF ANY
JURISDICTION WHERE SUCH COLLATERAL OR OTHER PROPERTY MAY BE
FOUND.  EACH PLEDGOR HEREBY EXPRESSLY AND IRREVOCABLY SUBMITS TO THE
JURISDICTION OF THE COURTS OF THE STATE OF ILLINOIS AND OF THE UNITED STATES
DISTRICT COURT FOR THE NORTHERN DISTRICT OF ILLINOIS FOR THE PURPOSE OF ANY SUCH
LITIGATION AS SET FORTH ABOVE.  EACH PLEDGOR FURTHER IRREVOCABLY
CONSENTS TO THE SERVICE OF PROCESS BY REGISTERED MAIL, POSTAGE PREPAID, TO THE
ADDRESS OF SUCH PLEDGOR SET ACROSS FROM ITS SIGNATURE HERETO (OR SUCH OTHER
ADDRESS AS IT SHALL HAVE SPECIFIED IN WRITING TO THE ADMINISTRATIVE AGENT AS ITS
ADDRESS FOR NOTICE HEREUNDER), OR BY PERSONAL SERVICE WITHIN OR WITHOUT THE
STATE OF ILLINOIS.  EACH PLEDGOR HEREBY EXPRESSLY AND IRREVOCABLY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION WHICH IT MAY NOW
OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUCH LITIGATION BROUGHT IN ANY
SUCH COURT REFERRED TO ABOVE AND ANY CLAIM THAT ANY SUCH LITIGATION HAS BEEN
BROUGHT IN AN INCONVENIENT FORUM.

     

    EACH
OF EACH PLEDGOR, THE ADMINISTRATIVE AGENT AND (BY ACCEPTING THE BENEFITS HEREOF)
EACH LENDER PARTY HEREBY WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION OR
PROCEEDING TO ENFORCE OR DEFEND ANY RIGHTS UNDER THIS AGREEMENT OR ANY OTHER
LOAN DOCUMENT AND ANY AMENDMENT, INSTRUMENT, DOCUMENT OR AGREEMENT DELIVERED OR
WHICH MAY IN THE FUTURE BE DELIVERED IN CONNECTION HEREWITH OR THEREWITH OR
ARISING FROM ANY FINANCING RELATIONSHIP EXISTING IN CONNECTION WITH ANY OF THE
FOREGOING, AND AGREES THAT ANY SUCH ACTION OR PROCEEDING SHALL BE TRIED BEFORE A
COURT AND NOT BEFORE A JURY.  EACH PLEDGOR ACKNOWLEDGES AND AGREES
THAT IT HAS RECEIVED FULL AND SUFFICIENT CONSIDERATION FOR THIS PROVISION (AND
EACH OTHER PROVISION OF EACH OTHER LOAN DOCUMENT TO WHICH IT IS A PARTY) AND
THAT THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE ADMINISTRATIVE AGENT, FOR
THE BENEFIT OF THE LENDER PARTIES, ENTERING INTO THIS AGREEMENT AND EACH SUCH
OTHER LOAN DOCUMENT.

     

    [REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]

    

    
      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

    

    

    IN
WITNESS WHEREOF, this Agreement has been duly executed and delivered as of the
day and year first written above.

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              	
                                      MIDDLEBY
      MARSHALL INC.

                                    
	
                                      THE
      MIDDLEBY CORPORATION

                                    
	
                                      G.S.
      BLODGETT CORPORATION

                                    
	
                                      BLODGETT
      HOLDINGS INC.

                                    
	 
      
	
                                      By:

                                    	/s/ David B. Baker
	
                                      Name Printed: 

                                    	
                                      David B. Baker

                                    
	
                                      Title:  

                                    	Vice President
	 
      
	
                                      Address:

                                    
	
                                      1400
      Toastmaster Drive

                                    
	
                                      Elgin,
      Illinois 60120

                                    
	
                                      Attention:
      David B. Baker

                                    
	
                                      Facsimile:
      (847) 741-1689

                                    
	 
      
	
                                      BANK
      OF AMERICA, N.A.,

                                    
	
                                      as
      Administrative Agent

                                    
	 
      
	
                                      By:

                                    	/s/ David A. Johanson
	
                                      Name Printed: 

                                    	
                                      David A. Johanson

                                    
	
                                      Title:

                                    	Vice President
	 
      
	
                                      Address:

                                    
	
                                      231
      South LaSalle Street

                                    
	
                                      Chicago,
      IL 60697

                                    
	
                                      Attention:
      David A. Johanson

                                    
	
                                      Facsimile:
      (312)
974-9102

                                    

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    

    
      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

    

    

    Signature
page for the U.S. Pledge Agreement dated as of December 21, 2001 among The
Middleby Corporation, Middleby Marshall Inc. (the “Borrower”), various
subsidiaries of the Borrower and Bank of America, N.A., as Administrative Agent
under the Credit Agreement dated as of December 21, 2001 with the Borrower and
various other parties.

     

    The
undersigned is executing a counterpart hereof for purposes of becoming a party
hereto:

     

    [SUBSIDIARY]

    

    
      
        
          
            
              
                
                  
                    
                      	
                              By:

                            	
                                 

                            
	
                              Name
      Printed: 

                            	
                                 

                            
	
                              Title:  

                            	
                                 

                            

                    

                  

                

              

            

          

        

      

    

    

    
      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

    

    

    SCHEDULE
I

    TO
PLEDGE AGREEMENT

     

    STOCK

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                	
                                        Pledgor

                                      	 	
                                        Issuer

                                      	 	
                                        Certificate #

                                      	 	 	
                                        # of Pledged

                                        Shares

                                      	 	 	
                                        # of Shares

                                        Issued and

                                        Outstanding

                                      	 	 	
                                        Pledged Shares as

                                        % of Total Shares

                                        of Issuer

                                        Outstanding

                                      	 
	
                                        The
      Middleby Corporation

                                      	 	
                                        Middleby
      Marshall Inc.

                                      	 	
                                        7

                                      	 	 	 	100,000	 	 	 	100,000	 	 	 	100	%
	
                                        The
      Middleby Corporation

                                      	 	
                                        Middleby
      Marshall Inc.

                                      	 	
                                        6

                                      	 	 	 	1,000,000	 	 	 	1,000,000	 	 	 	100	%
	
                                        Middleby
      Marshall Inc.

                                      	 	
                                        Blodgett
      Holdings Inc.

                                      	 	
                                        16

                                      	 	 	 	2,710,000	 	 	 	2,710,000	 	 	 	100	%
	
                                        Middleby
      Marshall Inc.

                                      	 	
                                        Middleby
      Worldwide Corporation

                                      	 	
                                        16

                                      	 	 	 	4,387	 	 	 	4,387	 	 	 	100	%
	
                                        Blodgett
      Holdings Inc.

                                      	 	
                                        G.
      S. Blodgett Corporation

                                      	 	
                                        142

                                      	 	 	 	10	 	 	 	10	 	 	 	100	%
	
                                        G.
      S. Blodgett Corporation

                                      	 	
                                        Pitco
      Frialator, Inc.

                                      	 	
                                        3

                                      	 	 	 	1,000	 	 	 	1,000	 	 	 	100	%
	
                                        G.
      S. Blodgett Corporation

                                      	 	
                                        MagiKitch’n
      Inc.

                                      	 	
                                        3

                                      	 	 	 	10,000	 	 	 	10,000	 	 	 	100	%
	
                                        G.
      S. Blodgett Corporation

                                      	 	
                                        Cloverleaf
      Properties, Inc.

                                      	 	
                                        4

                                      	 	 	 	15,000	 	 	 	15,000	 	 	 	100	%

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    

    
      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

    

    EXHIBIT
E

     

    FORM
OF

    ASSIGNMENT
AGREEMENT

     

    This
Lender Assignment Agreement (this “Assignment
Agreement”) is dated as of the Effective Date set forth below and is
entered into by and between [Insert name of Assignor] (the
“Assignor”) and
[Insert name of
Assignee] (the “Assignee”). 
Capitalized terms used but not defined herein shall have the meanings given to
them in the Credit Agreement identified below (as amended, restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”),
receipt of a copy of which is hereby acknowledged by the Assignee.  The
Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby
agreed to and incorporated herein by reference and made a part of this
Assignment Agreement as if set forth herein in full.

    

    For an
agreed consideration, the Assignor hereby irrevocably sells and assigns to the
Assignee, and the Assignee hereby irrevocably purchases and assumes from the
Assignor, subject to and in accordance with the Standard Terms and Conditions
and the Credit Agreement, as of the Effective Date inserted by the Agent as
contemplated below (i) all of the Assignor's rights and obligations as a Lender
under the Credit Agreement and any other documents or instruments delivered
pursuant thereto to the extent related to the amount and percentage interest
identified below of all of such outstanding rights and obligations of the
Assignor under the respective facilities identified below (including, without
limitation, Letters of Credit included in such facilities) and (ii) to the
extent permitted to be assigned under applicable law, all claims, suits, causes
of action and any other right of the Assignor (in its capacity as a Lender)
against any Person, whether known or unknown, arising under or in connection
with the Credit Agreement, any other documents or instruments delivered pursuant
thereto or the loan transactions governed thereby or in any way based on or
related to any of the foregoing, including, but not limited to, contract claims,
tort claims, malpractice claims, statutory claims and all other claims at law or
in equity related to the rights and obligations sold and assigned pursuant to
clause (i) above (the rights and obligations sold and assigned pursuant to
clauses (i) and (ii) above being referred to herein collectively as, the “Assigned
Interest”).  Such sale and assignment is without recourse to the
Assignor and, except as expressly provided in this Assignment Agreement, without
representation or warranty by the Assignor.

    

    
      
        
          	
                  1.

                	
                  Assignor:

                	
                  ______________________________

                
	 
      	 
      	 
      
	
                  2.

                	
                  Assignee:

                	
                  ______________________________
      [and is an Affiliate of [identify
      Lender]]

                
	 
      	 
      	 
      
	
                  3.

                	
                  Borrower:

                	
                  Middleby
      Marshall Inc.

                
	 
      	 
      	 
      	 
      
	
                  4.

                	
                  Agent:

                	
                  Bank
      of America, N.A., as the administrative agent under the Credit
      Agreement

                
	 
      	 
      	 
      	 
      
	
                  5.

                	
                  Credit
      Agreement:

                	
                  The
      Fourth Amended and Restated Credit Agreement, dated as of December 28,
      2007 among The Middleby Corporation, Middleby Marshall Inc., the Lenders
      parties thereto, and Bank of America, N.A., as Administrative
      Agent

                

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      	
              6.

            	
              Assigned
      Interest:

            

    

    

    
      
        
          
            
              
                	
                        Amount of Revolving

                        Commitment Assigned

                      	 	
                        Commitment Amount

                      	 	 	
                        Percentage Assigned

                      	 	 	
                        Amount of Revolving

                        Loans Assigned

                      	 
	$ 	
                        ________________ 

                      	 	$	________________	 	 	 	________________	%	 	$	________________	 

              

            

          

        

      

    

     

    
      	
              [7.

            	
              Trade
      Date:

            	
              __________________]

            

    

     

    Effective
Date: __________________, 20__ [TO BE INSERTED BY AGENT AND WHICH, SUBJECT TO
SECTION 15.9.1 OF THE CREDIT AGREEMENT, SHALL BE THE EFFECTIVE DATE OF
RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.]

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    The terms
set forth in this Assignment Agreement are hereby agreed to:

    

    
      
        
          
            	 
      	
                    ASSIGNOR

                  
	 
      	
                    [NAME
      OF ASSIGNOR]

                  
	 
      	 
      	 
      
	 
      	
                    By: 

                  	
                      

                  
	 
      	 
      	
                    Title:

                  
	 
      	 
      	 
      
	 
      	
                    ASSIGNEE

                  
	 
      	
                    [NAME
      OF ASSIGNEE]

                  
	 
      	 
      	 
      
	 
      	
                    By: 

                  	
                      

                  
	 
      	 
      	
                    Title:

                  

          

        

      

    

     

    Consented
to and Accepted:

    

    [BANK OF
AMERICA, N.A.], as Administrative Agent

    

    
      
        
          	
                  By: 

                	
                    

                
	 
      	
                  Title:

                
	 
      	 
      
	
                  [Consented
      to:

                
	 
      	 
      
	
                  MIDDLEBY
      MARSHALL INC.

                
	 
      	 
      
	
                  By:

                	
                    

                
	 
      	
                  Title:]

                

        

      

    

    

    [OTHER
REQUIRED CONSENTS]

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    ANNEX
1 TO ASSIGNMENT AGREEMENT

    [___________________]

    STANDARD
TERMS AND CONDITIONS FOR

    ASSIGNMENT
AGREEMENT

    

    1. 
       Representations and
Warranties.

    

    1.1. 
    Assignor.  The
Assignor (a) represents and warrants that (i) it is the legal and beneficial
owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of
any lien, encumbrance or other adverse claim and (iii) it has full power and
authority, and has taken all action necessary, to execute and deliver this
Assignment Agreement and to consummate the transactions contemplated hereby; and
(b) assumes no responsibility with respect to (i) any statements, warranties or
representations made in or in connection with the Credit Agreement or any other
Loan Document, (ii) the execution, legality, validity, enforceability,
genuineness, sufficiency or value of the Loan Documents or any collateral
thereunder, (iii) the financial condition of the Borrower, any of its
Subsidiaries or Affiliates or any other Person obligated in respect of any Loan
Document or (iv) the performance or observance by the Borrower, any of its
Subsidiaries or Affiliates or any other Person of any of their respective
obligations under any Loan Document.

    

    1.2. 
    Assignee.  The
Assignee (a) represents and warrants that (i) it has full power and authority,
and has taken all action necessary, to execute and deliver this Assignment
Agreement and to consummate the transactions contemplated hereby and to become a
Lender under the Credit Agreement, (ii) it meets all requirements of an Eligible
Assignee under the Credit Agreement (subject to receipt of such consents as may
be required under the Credit Agreement), (iii) from and after the Effective
Date, it shall be bound by the provisions of the Credit Agreement as a Lender
thereunder and, to the extent of the Assigned Interest, shall have the
obligations of a Lender thereunder, (iv) it has received a copy of the Credit
Agreement, together with copies of the most recent financial statements
delivered pursuant to Section 10.1.1 and 10.1.2 thereof 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 and to purchase the Assigned
Interest on the basis of which it has made such analysis and decision
independently and without reliance on the Agent or any other Lender, (v) as of
the date hereof, the Borrower will not be obligated to pay any greater amount
under Section 7.6 or Section 8 of the Credit Agreement than the Borrower is
obligated to pay to the Assignor under such Sections and (vi) if it is a
“foreign corporation, partnership or trust” within the meaning of the Code, (A)
the Assignee will be in compliance with all applicable provisions of Section
14.10 of the Credit Agreement on or prior to the Effective Date and (B) attached
hereto is any documentation required to be delivered by it pursuant to the terms
of the Credit Agreement, duly completed and executed by the Assignee; and (b)
agrees that (i) it will, independently and without reliance on 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, and (ii) 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.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    2. 
       Payments.  From
and after the Effective Date, the Agent shall make all payments in respect of
the Assigned Interest (including payments of principal, interest, fees and other
amounts) to the Assignee whether such amounts have accrued prior to or on or
after the Effective Date. The Assignor and the Assignee shall make all
appropriate adjustments in payments by the Agent for periods prior to the
Effective Date or with respect to the making of this assignment directly between
themselves.

    

    3. 
       General
Provisions.  This Assignment Agreement shall be binding upon, and
inure to the benefit of, the parties hereto and their respective successors and
assigns.  This Assignment Agreement may be executed in any number of
counterparts, which together shall constitute one instrument.  Delivery of
an executed counterpart of a signature page of this Assignment Agreement by
telecopy shall be effective as delivery of a manually executed counterpart of
this Assignment Agreement.  This Assignment Agreement shall be governed by,
and construed in accordance with, the law of the State of
Illinois.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
F

     

    FORM OF
CONFIRMATION

     

    Dated as
of December 28, 2007

     

    
      	
              To:

            	
              Bank
      of America, N.A., individually and as administrative agent (in such
      capacity, the “Administrative
      Agent”), and the other financial institutions party to the Amended
      Credit Agreement referred to below

            

    

     

    Please
refer to the following:

     

    (a)           the
Fourth Amended and Restated Credit Agreement dated as of the date hereof (the
“Amended Credit
Agreement”) among The Middleby Corporation (the “Parent”), Middleby
Marshall Inc. (the “Company”), various
financial institutions and the Administrative Agent;

     

    (b)           the
Security Agreement dated as of December 21, 2001 among the undersigned and the
Administrative Agent;

     

    (c)           the
U.S. Pledge Agreement dated as of December 21, 2001 among various of the
undersigned and the Administrative Agent;

     

    (d)           the
Share Pledge Agreement [Taiwan] dated as of July 11, 2002 between Middleby
Worldwide, Inc. and the Administrative Agent;

     

    (e)           the
Stock Pledge Agreement [Mexico] dated May 15, 2002 between Middleby Worldwide,
Inc. and the Administrative Agent;

     

    (f)            the
Pledge Agreement [Philippines] dated as of May 31, 2002 between the Company and
the Administrative Agent, as amended;

     

    (g)           Deed
of Charge and Memorandum of Deposit dated December 21, 2002 executed by G.S.
Blodgett Corporation in favor of the Administrative Agent;

     

    (h)           the
Subsidiary Guaranty dated as of December 21, 2001 by various of the
undersigned  in favor of the Administrative Agent; and

     

    (i)            the
Mortgages/Deeds of Trust dated as of December 21, 2001, August 31, 2005 and
December 20, 2005 as identified on each Exhibit A, relating
to the real property described on the related Exhibit
B.

     

    Each
document referred to in items (b) through
(i) above is
called a “Credit
Document”.  Capitalized terms used but not defined herein shall have
the meanings set forth in the Amended Credit Agreement; and the rules of
interpretation set forth in Section 1.2 of the Amended Credit Agreement shall
apply as if set forth in full herein.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Each of
the undersigned hereby confirms to the Lenders (as defined in the Amended Credit
Agreement) and the Administrative Agent that each Credit Document to which such
undersigned is a party continues in full force and effect on the date hereof
after giving effect to the Amended Credit Agreement and is the legal, valid and
binding obligation of such undersigned, enforceable against such undersigned in
accordance with its terms, subject to bankruptcy, insolvency and similar laws
affecting the enforceability of creditors’ rights generally and to general
principles of equity.

     

    Each of
the undersigned hereby agrees with the Administrative Agent that (a) the
obligations and liabilities guaranteed under the Subsidiary Guaranty and secured
under each other Credit Document include all obligations and liabilities of the
Company under the Amended Credit Agreement and (b) each reference in each Credit
Document to the “Credit Agreement” shall, on and after the date hereof, be
deemed to be a reference to the Amended Credit Agreement.  By its signature
below, the Administrative Agent agrees to the provisions of the foregoing clauses (a) and (b).

     

    Each of
the undersigned and the Administrative Agent (for itself and on behalf of the
Lenders) acknowledges and agrees that the last paragraph of the Confirmation
dated as of May 19, 2004 relating to the pledge of equity securities of Foreign
Subsidiaries remains in full force and effect.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    IN
WITNESS WHEREOF, the undersigned have executed this Confirmation as of the date
first above written.

    

    
      	 
      	
              THE
      MIDDLEBY CORPORATION

              MIDDLEBY
      MARSHALL INC.

              MIDDLEBY
      WORLDWIDE, INC.

              BLODGETT
      HOLDINGS INC.

              G.S.
      BLODGETT CORPORATION

              PITCO
      FRIALATOR, INC.

              MAGIKITCH’N
      INC.

              CLOVERLEAF
      PROPERTIES, INC.

              ALKAR
      HOLDINGS, INC.

              ALKAR-RAPIDPAK,
      INC.

              ALKAR-RAPIDPAK
      BRASIL LLC

                    By:
      Alkar-RapidPak, Inc., its sole member

              ALKAR-RAPIDPAK
      BRASIL LLC

              JADE
      RANGE, LLC

              CARTER
      HOFFMANN, LLC

              MEAT
      PROCESSING EQUIPMENT, LLC

              HOUNO
      HOLDING LLC  

              WELLS
      BLOOMFIELD, LLC

            

    

    

    
      
        
          
            	
                    Witness:

                  	 
      	
                    By:

                  	
                      

                  
	 
      	 
      	 
      	Name: 	 
      
	
                    By:

                  	
                      

                  	 
      	
                    Title: 

                  	
                      

                  
	
                    Name: 

                  	
                      

                  	 
      	
                     

                  	
                      

                  

          

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    ACKNOWLEDGMENT

     

    
      	
              STATE
      OF

            	
              )

            
	 
      	
              )  SS

            
	
              COUNTY
      OF

            	
              )

            

    

    

    On this
_____ day of December, 2007, before me, appeared _______________________, to me
personally known, who being by me duly sworn, did say that he/she is the
____________________________ of each of the above-named corporations, and
acknowledged said instrument to be the free act of said
corporations.

     

    IN
TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal in
the County and State aforesaid on the day and year first above
written.

     

    
      
        	 
      	
                  

              
	 
      	
                Notary
      Public

              

      

    

    

    
      
        	
                My
      Commission Expires:

              	 
      
	 
      	 
      
	
                  

              	 
      

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    ACKNOWLEDGED
AND AGREED:

    

    BANK OF
AMERICA, N.A., as

    Administrative
Agent

    
      

      
        
          
            
              
                
                  
                    
                      
                        	Witness: 	 	 	 
	
                                 

                              	  
      	
                                By:

                              	
                                  

                              
	By: 
      	 
      	 
      	Name: 	 
      
	
                                Name:  

                              	
                                  

                              	 
      	
                                Title: 

                              	
                                  

                              

                      

                    

                  

                

              

            

          

        

      

    ACKNOWLEDGMENT

      

    
      	
              STATE
      OF ILLINOIS

            	
              )

            
	 
      	
              )  SS

            
	
              COUNTY
      OF COOK

            	
              )

            

    

    
        

    

    On this
_____ day of December, 2007, before me, appeared ______________, to me
personally known, who being by me duly sworn, did say that he is
________________ of Bank of America, N.A., a national banking association, and
acknowledged said instrument to be the free act of said
association.

     

    IN
TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal in
the County and State aforesaid on the day and year first above
written.

     

    
      
        
          	 
      	
                    

                
	 
      	
                  Notary
      Public

                

        

      

    

    

    
      
        	
                My
      Commission Expires:

              	 
      
	 
      	 
      
	
                  

              	 
      

      

    

     

    THIS
INSTRUMENT PREPARED BY

    AND AFTER
RECORDING RETURN TO:

    Jennifer
Bruni

    Mayer
Brown LLP

    190 South
LaSalle Street

    Chicago,
Illinois  60603

    (312)
782-0600

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    EXHIBIT
A

    Identification
of Mortgage Documents

     

    Site
Address:  Elgin, Cook County, Illinois

     

    
      
        
          
            
              
                	
                        Document

                      	 
      	
                        Name of

                        Mortgagor

                      	 
      	
                        Date of 

                        Document

                      	 
      	
                        Document

                        Number

                      	 
      	
                        Date of

                        Recording

                      
	
                        Mortgage,
      Security Agreement, Assignment of Rents and Leases Financing Statement and
      Fixture Filing

                      	 
      	
                        Middleby
      Marshall, Inc., a Delaware corporation

                      	 
      	
                        December
      21, 2001

                      	 
      	
                        Recorded
      as document number

                        0011234057

                      	 
      	
                        December
      27, 2001

                      
	 	 	 	 	 	 	Re-recorded
      as document number 0020208485 	 	February
      22,
2002 

              

            

          

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    EXHIBIT
B

    Legal
Description

     

    That part
of Sections 6 and 7, Township 41 North, Range 9 East of the Third
Principal Meridian, described as follows:

     

    Commencing
at a point on the North line of said Section 6, being also the line of
Hanover Township which point is 855.0 feet West from the Northeast corner of
said Section 6; thence South 3 degrees 38 minutes West along the West
line of the Assessors Division 3783.5 feet, more or less, to the Northerly line
of Shoe Factory Road (being a road with a 100.0 foot right of way); thence North
86 degrees 34 minutes 53 seconds West along said Northerly right of way line
71.0 feet; thence North 03 degrees 38 minutes 00 seconds East along a line 71.0
feet West of and parallel to said West line of the Assessor’s Division, 2220.38
feet for the point of beginning; thence continuing North 03 degrees 38 minutes
00 seconds East along the last described line 888.63 feet; thence North 89
degrees 51 minutes 43 seconds West, 1009.19 feet; thence South 0 degrees 09
minutes 10 seconds West, 886.8 feet; thence South 89 degrees 51 minutes 43
seconds East 955.24 feet to the point of beginning, in Cook County, Illinois,
excepting any part thereof falling within street dedicated by document recorded
November 16, 1990 as number 90562719, known as Toastmaster
Drive.

     

    
      	
              PIN:

            	
              06-06-200-024

            

    

    06-06-200-032

     

    
      	
              Common
      Address:

            	
              1400
      Toastmaster Drive

            

    

    Elgin,
Illinois

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    EXHIBIT
A

    Identification
of Mortgage Documents

     

    Site
Address:  Wake County, North Carolina

     

    
      
        
          	
                  Document

                	 
      	
                  Name of Grantor

                	 
      	
                  Date of

                  Document

                	 
      	
                  Document

                  Number

                	 
      	
                  Date of

                  Recording

                
	
                  Deed
      of Trust, Security Agreement, Assignment of Rents and Leases Financing
      Statement and Fixture Filing

                	 
      	
                  Middleby
      Marshall, Inc., a Delaware corporation

                	 
      	
                  December
      21, 2001

                	 
      	
                  Recorded
      at

                  Book
      009239, Page 01217-01236

                	 
      	
                  January
      4, 2002

                

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    EXHIBIT
B

    Legal
Description

    

    BEGINNING at an iron stake in the
western right-of-way margin of N.C. Highway 55 where the southern right-of-way
margin of Secondary Road 2765 intersects with said highway; thence along the
western right-of-way margin of N.C. highway 55, South 0 15’ 25" West 899.43 feet
to an iron stake corner with the Denning heirs, thence a new line with the
Denning North 89 42’ 00" West 929.24 feet to an iron stake corner; thence a new
line with Denning, North 0 15’ 25" East 975.81 feet to an iron stake in the
southern right-of-way margin of Secondary Road 2765, thence along and with the
southern right-of-way margin of Secondary Road 2765, South 85 00’ 06" East
932.43 feet to the point of BEGINNING, and containing 20.00 acres according to a
map and survey by Josh Talton, R.L.S., dated 2/5/89, revised 7/12/89 entitled
"Property of Hussman Foodservice Co., Middle Creek Township, Wake County, North
Carolina."

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    EXHIBIT
A

    Identification
of Mortgage Documents

     

    Site
Address:  City of Burlington, Vermont

     

    
      
        
          
            	
                    Document

                  	 
      	
                    Name of Grantor

                  	 
      	
                    Date of 

                    Document

                  	 
      	
                    Document

                    Number

                  	 
      	
                    Date of

                    Recording

                  
	
                    Mortgage,
      Security Agreement, Assignment of Rents and Leases Financing Statement and
      Fixture Filing

                  	 
      	
                    Cloverleaf
      Properties, a Vermont corporation

                  	 
      	
                    December
      21, 2001

                  	 
      	
                    Recorded
      at Volume 713, Page 524

                  	 
      	
                    December
      28, 2001

                  
	 
      	 
      	 
      	 
      	 
      	 
      	Re-recorded
      at Volume 724, Page 602  	 
      	March
      6, 2002  

          

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    EXHIBIT
B

    Legal
Description

     

    All that
certain piece, parcel or tract of land, with all buildings and improvements
thereon, located in the City of Burlington and more particularly described as
follows:

     

    
      	
               
      

            	
              1.

            	
              Being
      all rights and title which The G.S. Blodgett Company, Inc. has in and to a
      certain pier or breakwater extending into Lake Champlain in Burlington in
      the County of Chittenden and State of Vermont.  Being all right and
      title which was conveyed to The G.S. Blodgett Company, Inc. by quit claim
      deed of the Lakeside Boat Club, dated August 14, 1959 and recorded in
      Book 151, Page 215 of the City of Burlington Land
  Records.

            

    

     

    
      	
               
      

            	
              2.

            	
              Being
      all and the same land and premises conveyed to The G.S. Blodgett Company,
      Inc. by warranty deed of Joseph Euclid Lanthier and Bernadette Lanthier,
      dated November 5, 1945 and recorded in Book 124, Page 269 of the City
      of Burlington Land Records.

            

    

     

    
      	
               
      

            	
              3.

            	
              Being
      all and the same land and premises conveyed to The G.S. Blodgett Co., Inc.
      by quit claim deed of the State of Vermont, dated March 31, 1965 and
      recorded in Book 169, Page 299 of the City of Burlington Land Records,
      EXCLUDING, HOWEVER, that portion of said lands and premises conveyed by
      G.S. Blodgett Co., Inc. to Blodgett Supply Company by quit claim deed
      dated March 2, 1981 and recorded in Volume 276, Page 131 of
      the Burlington Land Records.

            

    

     

    
      	
               
      

            	
              4.

            	
              Being
      all and the same land and premises conveyed to The G.S. Blodgett Co., Inc.
      by quit claim deed of Vermont Railway, Inc., dated March 29, 1965 and
      recorded in Book 169, Page 297 of the City of Burlington Land
      Records, EXCLUDING, HOWEVER, that portion of said lands and premises
      conveyed by G.S. Blodgett Co., Inc. to Blodgett Supply Company by quit
      claim deed dated March 2, 1981 and recorded in Volume 276,
      Page 131 of the Burlington Land
Records.

            

    

     

    
      	
               
      

            	
              5.

            	
              Being
      all and the same land and premises conveyed to The G.S. Blodgett Co., Inc.
      by quit claim deed of Arthur and Alice Danis, dated August 14, 1959
      and recorded in Book 151, Page 214 of the City of Burlington
      Land Records.

            

    

     

    
      	
               
      

            	
              6.

            	
              Being
      all and the same land and premises conveyed to The G.S. Blodgett Co., Inc.
      by quit claim deed of Blodgett Supply Co., Inc., dated March 2, 1981
      and recorded in Book 276, Page 62 of the City of Burlington Land
      Records.

            

    

     

    
      	
               
      

            	
              7.

            	
              Being
      all right, title and interest in land and premises conveyed to The G.S.
      Blodgett Company, Inc. by easement deed of the State of Vermont, dated
      March 22, 1984 and recorded in Book 302, Page 589 of the
      City of Burlington Land
Records.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              8.

            	
              Being
      all and the same land and premises conveyed to the G.S. Blodgett Company,
      Inc. by Warranty Deed of the City of Burlington, dated December 27,
      1967 and recorded in Volume 187, Page 217 of the City of Burlington
      Land Records, excluding, however, the following portions of said lands and
      premises:

            

    

    
      	
               
      

            	
              A.

            	
              All
      and the same lands and premises conveyed by the G.S. Blodgett Company,
      Inc. to the Maltex Partnership by Warranty Deed dated July 7, 1984
      and recorded in Volume 305, Page 530 of the City of Burlington
      Land Records.

            

    

     

    
      	
               
      

            	
              B.

            	
              All
      and the same lands and premises conveyed by the G.S. Blodgett Company,
      Inc. to the State of Vermont by Warranty Deed dated March 30, 1984
      and recorded in Volume 302, Page 610 of the City of Burlington
      Land Records.

            

    

     

    
      	
              Tax
      No.:

            	
              Parcel   
      053-2-011
              
      053-2-012
              
      053-1-012

            

    

     

    Common
Address:  42, 44 and 50 Lakeside Avenue, Burlington,
Vermont

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
A

    Identification
of Mortgage Documents

     

    Site
Address:  Bow, Merrimack County, New Hampshire

     

    
      
        
          
            	
                    Document

                  	 
      	
                    Name of Grantor

                  	 
      	
                    Date of

                    Document

                  	 
      	
                    Document

                    Number

                  	 
      	
                    Date of

                    Recording

                  
	
                    Mortgage,
      Security Agreement, Assignment of Rents and Leases Financing Statement and
      Fixture Filing

                  	 
      	
                    Cloverleaf
      Properties, a Vermont corporation

                  	 
      	
                    December
      21, 2001

                  	 
      	
                    Recorded
      at Book 2327, Page 0211

                        
      

                    

                      Re-recorded
      at Book 2346, Page 0824

                    

                  	 
      	
                    December
      28, 2001

                       

                    
                      March
      8, 2002

                    

                  

          

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    EXHIBIT
B

    Legal
Description

     

    Three
tracts of land on U.S. Route 3A, Bow, Merrimack, New Hampshire, described as
follows:

     

    
      
        
          	
                  TRACT I:

                	 
      
	 
      	 
      
	 
      	
                  Beginning
      at a stake and stones on the westerly side of the Old Turnpike leading
      from Concord to Hooksett, now known as Route 3-A, near the buildings
      on the above premises;

                
	 
      	 
      
	 
      	
                  Thence
      Westerly 208 feet to a stake and stones;

                
	 
      	 
      
	 
      	
                  Thence
      Northerly 200 feet to a stake and stones;

                
	 
      	 
      
	 
      	
                  Thence
      Easterly 150 feet to a stake and stones on the line of said
      Turnpike;

                
	 
      	 
      
	 
      	
                  Thence
      by said Turnpike to the point of beginning.

                
	 
      	 
      
	
                  TRACT II:

                	 
      
	 
      	 
      
	 
      	
                  Beginning
      at land now or formerly of Joseph F. Comolli on the Westerly side of
      Route 3-A, formerly the Old Turnpike;

                
	 
      	 
      
	 
      	
                  Thence
      Southwesterly one hundred eighty-five (185) feet, more or less, by Route
      3-A to land now or formerly of Ruth R. Heath;

                
	 
      	 
      
	 
      	
                  Thence
      Southeasterly two hundred (200) feet, more or less, by said Heath land to
      land of the State of New Hampshire;

                
	 
      	 
      
	 
      	
                  Thence
      Southwesterly one hundred fifty (150) feet, more or less, by land of said
      State;

                
	 
      	 
      
	 
      	
                  Thence
      Westerly three hundred twenty-two (322) feet, more or less, by land of
      said State;

                
	 
      	 
      
	 
      	
                  Thence
      Northwesterly two hundred eighty (280) feet, more or less, by land of said
      State to land of said Comolli;

                
	 
      	 
      
	 
      	
                  Thence
      Northeasterly six hundred fifty (650) feet, more or less, by said Comolli
      land to the bound begun
at.

                

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      
        	
                TRACT III:

              	 
      
	 
      	 
      
	 
      	
                Beginning
      at a stone bound set in the Easterly line of Route 3-A, so-called, at
      land now or formerly of Cilley, running South 20° 59’ East by the Easterly
      line of Route 3-A, a distance of two hundred thirty-one (231) feet to a
      stone bound;

              
	 
      	 
      
	 
      	
                Thence
      running South 16° 13’ 30” East still by the Easterly line of Route 3-A, a
      distance of three hundred eighty (380) feet to a stone bound at the
      intersection of the Easterly line of Route 3-A with the Northerly line of
      Hall street so-called;

              
	 
      	 
      
	 
      	
                Thence
      turning and running North 45° 59’ 30” East by the Northerly line of Hall
      Street eighty-five and sixteen hundredths (85.16) feet to a stone bound at
      land now or formerly of the Boston and Maine Railroad;

              
	 
      	 
      
	 
      	
                Thence
      turning and running North 4° 1’ 30” West by land of the Boston and Maine
      Railroad a distance of two hundred eighty-one and sixty-two hundredths
      (281.62) feet to a stone bound;

              
	 
      	 
      
	 
      	
                Thence
      running North 0° 5’ 30” West still by land of the Boston and Maine
      Railroad a distance of eighty-two (82) feet to an iron
  pin;

              
	 
      	 
      
	 
      	
                Thence
      turning and running North 46° 27’ West by land now or formerly of Cilley,
      a distance of one hundred eight and twenty-eight hundredths (108.28) feet
      to an iron pin;

              
	 
      	 
      
	 
      	
                Thence
      turning and running North 60° 59’ West still by land of Cilley a distance
      of one hundred seventy-three and thirty-five hundredths (173.35) feet to
      the point of beginning.

              
	 
      	 
      
	
                This grant includes the side
      tract on this land and the side track on land leased from the Boston and
      Maine Railroad as covered by lease contract #51741A dated June 8,
      1955 and as amended, and subject to the terms of that
      contract.

              

      

           

    

    
      	
              Tax
      #:

            	
              000097  L/B
      509 Route 3-A, Map/Lot:  1-058 and 000091  L/B 510
      Route 3-A,
Map/Lot:  1-048

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    EXHIBIT
A

    Identification
of Mortgage Documents

     

    Site
Address:  City of Menominee, Menominee County, Michigan

     

    
      
        
          	
                  Document

                	 
      	
                  Name of Grantor

                	 
      	
                  Date of

                  Document

                	 
      	
                  Document

                  Number

                	 
      	
                  Date of

                  Recording

                
	
                  Mortgage,
      Security Agreement, Assignment of Rents and Leases Financing Statement and
      Fixture Filing

                	 
      	
                  Middleby
      Marshall, Inc., a Delaware corporation

                	 
      	
                  August
      31, 2005

                	 
      	
                  Recorded
      at Liber 568 Page 18

                	 
      	
                  September
      28, 2005

                

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
B

     

    Legal
Description

     

    Lots 4, 5
and 6 of the plat of Menominee Industrial Park, City of Menominee, Menominee
County, Michigan, according to the recorded plat thereof.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
A

    Identification
of Mortgage Documents

     

    Site
Address:  Lodi Columbia County, Wisconsin

     

    
      
        
          
            
              
                
                  
                    
                      
                        	
                                Document

                              	 	
                                Name of Grantor

                              	 	
                                Date of

                                Document

                              	 	
                                Document

                                Number

                              	 	
                                Date of

                                Recording

                              
	
                                Mortgage,
      Security Agreement, Assignment of Rents and Leases Financing Statement and
      Fixture Filing

                              	 	
                                Alkar-Rapidpak,
      Inc., a Wisconsin corporation

                              	 	
                                December
      20, 2005

                              	 	
                                741135

                              	 	
                                December
      27,
2005

                              

                      

                    

                  

                

              

            

          

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    EXHIBIT
B

    Legal
Description

    

    LOT 1 OF
CERTIFIED SURVEY MAP NO. 3377, RECORDED IN VOLUME 22 OF SURVEYS, AT PAGE 114, AS
DOCUMENT NO. 619877, LOCATED IN THE SOUTHWEST 1⁄4 OF THE SOUTHWEST 1⁄4 OF SECTION
22, TOWN 10 NORTH, RANGE 8 EAST, IN THE CITY OF LODI, COLUMBIA COUNTY,
WISCONSIN.

     

    TAX KEY
NOS. 11246-185.C AND 11246-705.1

     

    LOT 1 OF
CERTIFIED SURVEY MAP NO. 1424, RECORDED IN VOLUME 6 OF SURVEYS, AT PAGE 186, AS
DOCUMENT NO. 479213, AND LOT 1 OF CERTIFIED SURVEY MAP NO. 1447, RECORDED IN
VOLUME 6 OF SURVEYS, AT PAGE 207, AS DOCUMENT NO. 480382.

     

    TAX KEY
NOS. 11246-705

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
G

     

    FORM OF
INCREASE REQUEST

     

    ___________________________,
20___

     

    Bank of
America, N.A., as Administrative Agent

      under
the Credit Agreement referred to below

    [Address]

    

    Ladies/Gentlemen:

     

    Please
refer to the Fourth Amended and Restated Credit Agreement dated as of December
28, 2007 (as amended, restated, supplemented or otherwise modified from time to
time, the “Credit Agreement”) among Middleby Marshall Inc. (the “Company”), The
Middleby Corporation, various financial institutions and Bank of America, N.A.,
as Administrative Agent.  Capitalized terms used but not defined herein
have the meanings set forth in the Credit Agreement.

     

    In
accordance with Section 6.2.2 of the Credit Agreement, the Company hereby
requests an increase in the Commitment Amount from $__________ to
$__________.  Such increase shall be made by [increasing the Commitment of
____________ from $________ to $________] [adding _____________ as an Additional
Lender under the Credit Agreement with a Commitment of $____________] as set
forth in the letter attached hereto.  Such increase shall be effective
three Business Days after the date that the Administrative Agent acknowledges
receipt of the letter attached hereto or such other date as is agreed among the
Company, the Administrative Agent and the [increasing] [Additional]
Lender.

     

    
      
        
          	 
      	
                  Very
      truly yours,

                
	 	 
	 
      	
                  MIDDLEBY
      MARSHALL INC.

                
	 
      	 
      	 
      
	 
      	
                  By:

                	
                    

                
	 
      	
                  Name: 

                	
                    

                
	 
      	
                  Title:

                	
                    

                

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    ANNEX 1
TO EXHIBIT G

     

    [Date]

     

    Bank of
America, N.A., as Administrative Agent

      under
the Credit Agreement referred to below

    [Address]

    

    Ladies/Gentlemen:

     

    Please refer to the letter dated
__________, 20__ from Middleby Marshall Inc. (the “Company”) requesting an increase in the
Commitment Amount from $__________ to $__________ pursuant to Section 6.2.2 of
the Fourth Amended and Restated Credit Agreement dated as of December 28, 2007
(as amended, restated, supplemented or otherwise modified from time to time, the
“Credit Agreement”) among the Company, The Middleby Corporation, various
financial institutions and Bank of America, N.A., as Administrative Agent. 
Capitalized terms used but
not defined herein have the meanings set forth in the Credit
Agreement.

     

    The
undersigned hereby confirms that it has agreed to increase its Commitment under
the Credit Agreement from $__________ to $__________ effective on the date which
is three Business Days after the acknowledgment of receipt hereof by the
Administrative Agent or on such other date as may be agreed among the Company,
the Administrative Agent and the undersigned.

     

    
      
        	 
      	
                Very
      truly yours,

              
	 
      	 
      
	 
      	
                [NAME
      OF INCREASING LENDER]

              
	 
      	 
      	 
      
	 
      	
                By:

              	
                  

              
	 
      	
                Title: 

              	
                  

              

      

    

     

    Receipt
acknowledged as of

    _____________,
20___

     

    BANK OF
AMERICA, N.A., as Administrative Agent

     

    
      
        	
                By:

              	
                  

              
	
                Name: 

              	
                  

              
	
                Title:

              	
                  

              

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    ANNEX 2
TO EXHIBIT G

     

    [Date]

     

    Bank of
America, N.A., as Administrative Agent

      under
the Credit Agreement referred to below

    [Address’

    

    Ladies/Gentlemen:

     

    Please
refer to the letter dated __________, 20___ from Middleby Marshall Inc. (the
“Company”)
requesting an increase in the Commitment Amount from $__________ to $__________
pursuant to Section 6.2.2 of the Fourth Amended and Restated Credit Agreement
dated as of December 28, 2007 (as amended, restated, supplemented or otherwise
modified from time to time, the “Credit Agreement”) among the Company, The
Middleby Corporation, various financial institutions and Bank of America, N.A.,
as Administrative Agent.  Capitalized terms used but not defined herein
have the meanings set forth in the Credit Agreement.

     

    The
undersigned hereby confirms that it has agreed to become a Lender under the
Credit Agreement with a Commitment of $__________ effective on the date which is
three Business Days after the consent hereto by the Administrative Agent, the
Swing Line Lender and each Issuing Lender and the acknowledgement of receipt
hereof by the Administrative Agent, or on such other date as may be agreed among
the Company, the Administrative Agent and the undersigned.

     

    The
undersigned (a) acknowledges that it has received a copy of the Credit
Agreement and the Schedules and Exhibits thereto, together with copies of the
most recent financial statements delivered by the Company pursuant to the Credit
Agreement, and such other documents and information as it has deemed appropriate
to make its own credit and legal analysis and decision to become a Lender under
the Credit Agreement; and (b) agrees that it will, independently and
without reliance upon the Administrative Agent 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 and legal decisions in taking or not taking
action under the Credit Agreement.

     

    The
undersigned represents and warrants that (i) it is duly organized and
existing and it has full power and authority to take, and has taken, all action
necessary to execute and deliver this letter and to consummate the transactions
contemplated hereby and to become a Lender under the Credit Agreement; and
(ii) no notices to, or consents, authorizations or approvals of, any Person
are required (other than any already given or obtained) for its due execution
and delivery of this letter and the performance of its obligations as a Lender
under the Credit Agreement.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    The
undersigned agrees to execute and deliver such other instruments, and take such
other actions, as the Administrative Agent or the Company may reasonably request
in connection with the transactions contemplated by this letter.

     

    The
following administrative details apply to the undersigned:

     

    (A)         Notice
Address:

     

    Legal
name: __________________________

    Address:    _______________________________

    _______________________________

    _______________________________

    Attention:  _____________________________

    Telephone:  (___)
_______________________

    Facsimile:  (___)
______________________

     

    (B)         Payment
Instructions:

     

    Account
No.:  ___________________________

    At:  __________________________

     ___________________________

     ___________________________

    Reference:    ___________________________

    Attention:    ___________________________

     

    The
undersigned acknowledges and agrees that, on the date on which the undersigned
becomes a Lender under the Credit Agreement as set forth in the second paragraph
hereof, the undersigned (a) will be bound by the terms of the Credit Agreement
as fully and to the same extent as if the undersigned were an original Lender
under the Credit Agreement and (b) 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.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    This
letter shall be binding upon, and inure to the benefit of, the parties hereto
and their respective successors and assigns.  This letter may be
executed in any number of counterparts, which together shall constitute one
instrument.  Delivery of an executed counterpart of a signature page
of this letter by telecopy shall be effective as delivery of a manually executed
counterpart of this letter.  This letter shall be governed by, and
construed in accordance with, the law of the State of Illinois.

     

    
      
        
          
            
              	 
      	
                      Very
      truly yours,

                    
	 	 
	 
      	
                      [NAME
      OF NEW LENDER]

                    
	 
      	 
      
	 
      	
                      By:

                    	 
      
	 
      	
                      Title: 

                    	 
      

            

          

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    Acknowledged
and consented to as of

    ______________,
20___

     

    BANK OF
AMERICA, N.A., as Administrative Agent

     

    
      
        	
                By:

              	
                  

              
	
                Name: 

              	
                  

              
	
                Title:

              	
                  

              

      

    

    

    BANK OF
AMERICA, N.A., as Swing Line Lender and as

    an
Issuing Lender

    

    
      
        	
                By:

              	
                  

              
	
                Name: 

              	
                  

              
	
                Title:

              	
                  

              

      

    

    

    [OTHER
ISSUING LENDERS]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00177-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00177-of-00352.parquet"}]]