Document:

Credit Agreement dated as of August 24, 2004

 Exhibit 10.2 

EXECUTION COPY 

U.S. $1,075,000,000 

CREDIT AGREEMENT 

Dated as of August 24, 2004 

Among 
 THE
LUBRIZOL CORPORATION 
 as Borrower 

and 
 THE
INITIAL LENDERS NAMED HEREIN 
 as Initial Lenders 

KEYBANK NATIONAL ASSOCIATION 

and 
 ABN AMRO
BANK N.V. 
 as Co-Syndication Agents 

WACHOVIA BANK, NATIONAL ASSOCIATION 

as Documentation Agent 

and 
 CITICORP
NORTH AMERICA, INC. 
 as Agent 

 
  

CITIGROUP GLOBAL MARKETS INC. 

and 
 KEYBANC
CAPITAL MARKETS 
 as Co-Lead Arrangers and Co-Bookrunners 

 TABLE OF CONTENTS 

 

			
	 ARTICLE I
	  	
		
	 SECTION 1.01. Certain Defined Terms
	  	1
		
	 SECTION 1.02. Computation of Time Periods
	  	14
		
	 SECTION 1.03. Accounting Terms
	  	14
		
	 ARTICLE II
	  	
		
	 SECTION 2.01. The Advances
	  	14
		
	 SECTION 2.02. Making the Advances
	  	15
		
	 SECTION 2.03. Issuance of and Drawings and Reimbursement Under Letters of Credit
	  	16
		
	 SECTION 2.04. Fees
	  	17
		
	 SECTION 2.05. Termination or Reduction of the Commitments
	  	17
		
	 SECTION 2.06. Repayment of Advances
	  	18
		
	 SECTION 2.07. Interest on Advances
	  	19
		
	 SECTION 2.08. Interest Rate Determination
	  	19
		
	 SECTION 2.09. Optional Conversion of Advances
	  	20
		
	 SECTION 2.10. Prepayments of Advances
	  	20
		
	 SECTION 2.11. Increased Costs
	  	21
		
	 SECTION 2.12. Illegality
	  	22
		
	 SECTION 2.13. Payments and Computations
	  	22
		
	 SECTION 2.14. Taxes
	  	22
		
	 SECTION 2.15. Sharing of Payments, Etc.
	  	24
		
	 SECTION 2.16. Evidence of Debt
	  	24
		
	 SECTION 2.17. Use of Proceeds
	  	25
		
	 ARTICLE III
	  	
		
	 SECTION 3.01. Conditions Precedent to Effectiveness of Section 2.01
	  	25
		
	 SECTION 3.02. Conditions Precedent to the Initial Borrowing of Each Designated Subsidiary
	  	27

			
		
	 SECTION 3.03. Conditions Precedent to Each Borrowing
	  	27
		
	 SECTION 3.04. Determinations Under Section 3.01
	  	28
		
	 ARTICLE IV
	  	
		
	 SECTION 4.01. Representations and Warranties of the Company
	  	28
		
	 ARTICLE V
	  	
		
	 SECTION 5.01. Affirmative Covenants
	  	30
		
	 SECTION 5.02. Negative Covenants
	  	32
		
	 SECTION 5.03. Financial Covenants
	  	36
		
	 ARTICLE VI
	  	
		
	 SECTION 6.01. Events of Default
	  	36
		
	 SECTION 6.02. Actions in Respect of the Letters of Credit upon Default
	  	38
		
	 ARTICLE VII
	  	
		
	 SECTION 7.01. Guaranty
	  	39
		
	 SECTION 7.02. Guaranty Absolute
	  	39
		
	 SECTION 7.03. Waivers and Acknowledgments
	  	40
		
	 SECTION 7.04. Subrogation
	  	40
		
	 SECTION 7.05. Subordination
	  	41
		
	 SECTION 7.06. Continuing Guaranty; Assignments
	  	41
		
	 ARTICLE VIII
	  	
		
	 SECTION 8.01. Authorization and Action
	  	42
		
	 SECTION 8.02. Agent’s Reliance, Etc.
	  	42
		
	 SECTION 8.03. CNAI and Affiliates
	  	42
		
	 SECTION 8.04. Lender Credit Decision
	  	42
		
	 SECTION 8.05. Indemnification
	  	43
		
	 SECTION 8.06. Successor Agent
	  	43
		
	 SECTION 8.07. Other Agents
	  	44

  

 ii 

			
	 ARTICLE IX
	  	
		
	 SECTION 9.01. Amendments, Etc.
	  	44
		
	 SECTION 9.02. Notices, Etc.
	  	44
		
	 SECTION 9.03. No Waiver; Remedies
	  	45
		
	 SECTION 9.04. Costs and Expenses
	  	45
		
	 SECTION 9.05. Right of Set-off
	  	46
		
	 SECTION 9.06. Binding Effect
	  	46
		
	 SECTION 9.07. Assignments and Participations
	  	47
		
	 SECTION 9.08. Confidentiality
	  	49
		
	 SECTION 9.09. Governing Law
	  	49
		
	 SECTION 9.10. Execution in Counterparts
	  	49
		
	 SECTION 9.11. Jurisdiction, Etc.
	  	49
		
	 SECTION 9.12. Designated Subsidiaries
	  	50
		
	 SECTION 9.13. No Liability of the Issuing Banks
	  	50
		
	 SECTION 9.14. Patriot Act
	  	50
		
	 SECTION 9.15. Waiver of Jury Trial
	  	51

  

 iii 

 Schedules 

Schedule I - List of Applicable Lending Offices 

Schedule 1.01 - Excluded Domestic Subsidiaries 

Schedule 3.01(b) - Disclosed Litigation 

Schedule 5.02(a) - Existing Liens 
 Exhibits

  

					
	Exhibit A-1	 	-	  	Form of Revolving Credit Note
			
	Exhibit A-2	 	-	  	Form of Term Note
			
	Exhibit B	 	-	  	Form of Notice of Borrowing
			
	Exhibit C	 	-	  	Form of Assignment and Acceptance
			
	Exhibit D	 	-	  	Form of Opinion of Counsel for the Company
			
	Exhibit E	 	-	  	Form of Designation Letter
			
	Exhibit F	 	-	  	Form of Subsidiary Guaranty

  

 iv 

 FIVE-YEAR CREDIT AGREEMENT 

Dated as of August 24, 2004 

THE LUBRIZOL CORPORATION, an Ohio corporation (the “Company”), the banks, financial institutions and other institutional
lenders (the “Initial Lenders”) and initial issuing banks (the “Initial Issuing Banks”) listed on the signature pages hereof, CITIGROUP GLOBAL MARKETS INC. and KEYBANC CAPITAL MARKETS, as co-lead arrangers and
co-bookrunners, KEYBANK NATIONAL ASSOCIATION and ABN AMRO BANK N.V., as co-syndication agents, and WACHOVIA BANK, NATIONAL ASSOCIATION, as documentation agent, and CITICORP NORTH AMERICA, INC. (“CNAI”), as administrative agent (the
“Agent”) for the Lenders, agree as follows: 
 ARTICLE I 

DEFINITIONS AND ACCOUNTING TERMS 

SECTION 1.01. Certain Defined Terms. As used in this Agreement, the following terms shall have the following meanings (such
meanings to be equally applicable to both the singular and plural forms of the terms defined): 

“Acquisition” means the Company’s acquisition of the Target on June 3, 2004. 

“Advance” means a Revolving Credit Advance or a Term Advance. 

“Affiliate” means, as to any Person, any other Person that, directly or indirectly, controls, is
controlled by or is under common control with such Person or is a director or officer of such Person. For purposes of this definition, the term “control” (including the terms “controlling”, “controlled by” and
“under common control with”) of a Person means the possession, direct or indirect, of the power to vote 5% or more of the Voting Stock of such Person or to direct or cause the direction of the management and policies of such Person,
whether through the ownership of Voting Stock, by contract or otherwise. 
 “Agent’s
Account” means the account of the Agent maintained by the Agent at Citibank at its office at 399 Park Avenue, New York, New York 10043, Account No. 36852248, Attention: Bank Loan Syndications. 

“Applicable Lending Office” means, with respect to each Lender, such Lender’s Domestic Lending
Office in the case of a Base Rate Advance and such Lender’s Eurodollar Lending Office in the case of a Eurodollar Rate Advance. 

“Applicable Facility Fee Rate” means, with respect to the Revolving Credit Facility as of any date, a
percentage per annum determined by reference to the Public Debt Rating in effect on such date as set forth below: 
  

				
	 Public Debt Rating

S&P/Moody’s
	  	Applicable
Facility Fee 
Rate	 
	 Level 1

BBB or Baa2 or above
	  	0.175	% 
	 Level 2

BBB- and Baa3
	  	0.200	% 
	 Level 3

BBB- or Baa3
	  	0.250	% 

				
	 Level 4

BB+ or Ba1
	  	0.300	% 
	 Level 5

BB or Ba2
	  	0.400	% 
	 Level 6

Lower than Level 5
	  	0.500	% 

“Applicable Margin” means (a) with respect to the Revolving Credit Facility as of any date, a
percentage per annum determined by reference to the Public Debt Rating in effect on such date as set forth below: 
  

							
	 Public Debt Rating

S&P/Moody’s
	  	Applicable Margin 
for
Eurodollar Rate Advances	 	 	Applicable Margin for
Base Rate
Advances	 
	 Level 1

BBB or Baa2 or above
	  	0.700	% 	 	0.000	% 
	 Level 2

BBB- and Baa3
	  	0.800	% 	 	0.000	% 
	 Level 3

BBB- or Baa3
	  	0.8750	% 	 	0.000	% 
	 Level 4

BB+ or Ba1
	  	1.200	% 	 	0.200	% 
	 Level 5

BB or Ba2
	  	1.350	% 	 	0.350	% 
	 Level 6

Lower than Level 5
	  	2.250	% 	 	1.250	% 

 and
(b) with respect to the Term Facility as of any date, a percentage per annum determined by reference to the Public Debt Rating in effect on such date as set forth below: 

 

							
	 Public Debt Rating

S&P/Moody’s
	  	Applicable Margin 
for
Eurodollar Rate Advances	 	 	Applicable Margin for
Base Rate
Advances	 
	 Level 1

BBB or Baa2 or above
	  	1.000	% 	 	0.000	% 
	 Level 2

BBB- and Baa3
	  	1.125	% 	 	0.125	% 
	 Level 3

BBB- or Baa3
	  	1.250	% 	 	0.250	% 
	 Level 4

BB+ or Ba1
	  	1.750	% 	 	0.750	% 
	 Level 5

BB or Ba2
	  	2.000	% 	 	1.000	% 
	 Level 6

Lower than Level 5
	  	3.000	% 	 	2.000	% 

  

 2 

 “Applicable Utilization Fee” means, as of any date that the
aggregate Revolving Credit Advances outstanding plus the aggregate Available Amount of the Letters of Credit outstanding exceed 33% of the aggregate Revolving Credit Commitments, a percentage per annum determined by reference to the Public Debt
Rating in effect on such date as set forth below: 
  

				
	 Public Debt Rating

S&P/Moody’s
	  	Applicable
Utilization Fee	 
	 Level 1

BBB or Baa2 or above
	  	0.125	% 
	 Level 2

BBB- and Baa3
	  	0.125	% 
	 Level 3

BBB- or Baa3
	  	0.125	% 
	 Level 4

BB+ or Ba1
	  	0.250	% 
	 Level 5

BB or Ba2
	  	0.250	% 
	 Level 6

Lower than Level 5
	  	0.250	% 

“Appropriate Lender” means, at any time, with respect to either of the Term Facility or Revolving Credit
Facility, a Lender that has a Commitment with respect to such Facility at such time. 
 “Assignment and
Acceptance” means an assignment and acceptance entered into by a Lender and an Eligible Assignee, and accepted by the Agent, in substantially the form of Exhibit C hereto. 

“Available Amount” of any Letter of Credit means, at any time, the maximum amount available to be drawn
under such Letter of Credit at such time (assuming compliance at such time with all conditions to drawing). 

“Base Rate” means a fluctuating interest rate per annum in effect from time to time, which rate per annum
shall at all times be equal to the highest of: 
 (a) the rate of interest announced publicly by Citibank in
New York, New York, from time to time, as Citibank’s base rate; 
 (b) the sum
(adjusted to the nearest 1/4 of 1% or, if there is no nearest
 1/4 of 1%, to the next higher
 1/4 of 1%) of
(i)  1/2 of 1% per annum, plus
(ii) the rate obtained by dividing (A) the latest three-week moving average of secondary market morning offering rates in the United States for three-month certificates of deposit of major United States money market banks, such three-week
moving average (adjusted to the basis of a year of 360 days) being determined weekly on each Monday (or, if such day is not a Business Day, on the next succeeding Business Day) for the three-week period ending on the previous Friday by Citibank on
the basis of such rates reported by certificate of deposit dealers to and published by the Federal Reserve Bank of New York or, if such publication shall be suspended or terminated, on the basis of quotations for such rates received by Citibank
from three New York certificate of deposit dealers of recognized standing selected by Citibank in the sound exercise of its commercially reasonable determination, by (B) a percentage equal to 100% minus the average of the daily percentages
specified during such three-week period by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including, but not limited to, any emergency, supplemental or other marginal reserve
requirement) for Citibank with respect to liabilities consisting of or including (among other liabilities) three-month U.S. dollar non-personal time deposits in the United States, plus (iii) the average during such three-week period of
the annual assessment rates estimated by Citibank for determining the then current annual assessment payable by Citibank to the Federal Deposit Insurance Corporation (or any successor) for insuring U.S. dollar deposits of Citibank in the United
States; or 
  

 3 

 (c)
 1/2 of one percent per annum above the Federal
Funds Rate. 
 “Base Rate Advance” means an Advance that bears interest as provided in
Section 2.07(a)(i). 
 “Borrowers” means, collectively, the Company and each Designated
Subsidiary that shall become a Borrower hereunder pursuant to Section 9.12. 
 “Borrowing”
means a Revolving Credit Borrowing or a Term Borrowing. 
 “Borrowing Minimum” means
$10,000,000. 
 “Borrowing Multiple” means $1,000,000. 

“Business Day” means a day of the year on which banks are not required or authorized by law to close in
New York City and, if the applicable Business Day relates to any Eurodollar Rate Advances, on which dealings are carried on in the London interbank market. 

“Citibank” means Citibank, N.A. 

“Commitment” means a Revolving Credit Commitment, a Letter of Credit Commitment or a Term Commitment.

 “Confidential Information” means information that the Company furnishes to the Agent or any
Lender in a writing designated as confidential, but does not include any such information that is generally available to the public or that is available to the Agent or such Lender on a non-confidential basis from a source other than the Company
that is, to the knowledge of the Agent or such Lender, not acting in breach of any confidentiality agreement. 

“Consolidated” refers to the consolidation of accounts in accordance with GAAP. 

“Consolidated EBITDA” means, for any period, (a) Consolidated net income, plus (b) to
the extent deducted in determining such Consolidated net income, the sum of, on a Consolidated basis and without duplication: (i) interest expense, (ii) income tax expense, (iii) depreciation expense, (iv) amortization expense,
(v) depletion expense, (vi) extraordinary, unusual or non-recurring non-cash losses, including goodwill expense and non-cash losses from the sale, exchange, transfer or other disposition of property of the Company or its Subsidiaries and
the related tax effects in accordance with GAAP, (vii) extraordinary, unusual or non-recurring cash losses, expenses or charges incurred or paid in calendar years 2003 or 2004, and all fees and expenses incurred in connection with any
acquisition consummated in calendar years 2003 or 2004 (including the Acquisition), minus (c) to the extent included in determining such Consolidated net income, the sum of, on a Consolidated basis and without duplication: (i) the
income of any Person (other than a wholly owned Subsidiary of the Company) in which any Person other than the Company or any of its Subsidiaries has a joint interest or a partnership interest or other ownership interest, except to the extent of the
amount of dividends or other distributions actually paid to the Company or any of its Subsidiaries by such Person during such period, (ii) gains from the sale, exchange, transfer or other disposition of property or assets of the Company and its
Subsidiaries (other than inventory sold in the ordinary course of business), and related tax effects in accordance with GAAP, (iii) any other extraordinary, unusual or non-recurring gains or other income not from the continuing operations of
the Company and its Subsidiaries, and related tax effects in accordance with GAAP and (iv) the income of any Subsidiary of the Company to the extent that the declaration or payment of dividends or similar distributions by that Subsidiary
of that income is not at the time permitted by operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental regulation applicable to that Subsidiary. For the purpose of calculating
Consolidated EBITDA for any period, if during such period the Company or any Subsidiary shall have made an acquisition of any Person, Consolidated EBITDA for such period shall be calculated after giving pro forma effect thereto as if such
acquisition occurred on the first day of such period. 
  

 4 

 “Consolidated Tangible Net Assets” means, as at any date,
the aggregate amount of Consolidated assets (less depreciation, amortization and other applicable reserves and other items deductible therefrom under GAAP) after deducting therefrom (a) all current liabilities (excluding any thereof which are
by their terms extendible or renewable at the option of the obligor thereon to a time more than 12 months after the time as of which the amount thereof is being computed), (b) all goodwill, tradenames, trademarks, patents and other intangibles,
in each case net of applicable amortization and (c) appropriate adjustments on account of minority interests of other Persons holding stock of the Company’s Subsidiaries, all as would be shown on a Consolidated balance sheet of the Company
and its Subsidiaries and determined in accordance with GAAP. 
 “Convert”,
“Conversion” and “Converted” each refers to a conversion of Advances of one Type into Advances of the other Type pursuant to Section 2.08 or 2.09. 

“Debt” of any Person means, without duplication, (a) all indebtedness of such Person for borrowed
money, (b) all obligations of such Person for the deferred purchase price of property or services (other than trade payables not overdue by more than 120 days incurred in the ordinary course of such Person’s business; provided that
trade payables which are overdue by more than 120 days shall not be included so long as payment of such is being contested in good faith and by proper proceedings), (c) all obligations of such Person evidenced by notes, bonds, debentures or
other similar instruments, (d) all obligations of such Person created or arising under any conditional sale or other title retention agreement with respect to property acquired by such Person (even though the rights and remedies of the seller
or lender under such agreement in the event of default are limited to repossession or sale of such property), (e) all obligations of such Person as lessee under leases that have been or should be, in accordance with GAAP, recorded as capital
leases, (f) all obligations, contingent or otherwise, of such Person in respect of acceptances, letters of credit or similar extensions of credit, (g) all Invested Amounts, (h) all Debt of others referred to in clauses (a)
through (g) above or clause (i) below and other payment obligations guaranteed directly or indirectly in any manner by such Person, or in effect guaranteed directly or indirectly by such Person (“Guaranteed Debt”) through
an agreement (1) to pay or purchase such Guaranteed Debt or to advance or supply funds for the payment or purchase of such Guaranteed Debt, (2) to purchase, sell or lease (as lessee or lessor) property, or to purchase or sell services,
primarily for the purpose of enabling the debtor to make payment of such Guaranteed Debt or to assure the holder of such Guaranteed Debt against loss, (3) to supply funds to or in any other manner invest in the debtor (including any agreement
to pay for property or services irrespective of whether such property is received or such services are rendered) or (4) otherwise to assure a creditor against loss, and (i) all Debt referred to in clauses (a) through (h) above
secured by (or for which the holder of such Debt has an existing right, contingent or otherwise, to be secured by) any Lien on property (including, without limitation, accounts and contract rights) owned by such Person, even though such Person has
not assumed or become liable for the payment of such Debt; provided, that Debt shall not include transactions in the ordinary course of business by the Company or its directly or indirectly held Subsidiaries with customers and vendors in the
form of (x) commitments to lend or loans to customers that are repayable either over an agreed period of time or at the time of purchases by the customers of products of the Company or its Subsidiaries and (y) advances made to vendors that
are treated either repayable over a period of time or as advance payments for products to be purchased by the Company or its Subsidiaries from the vendor. 

“Default” means any Event of Default or any event that would constitute an Event of Default but for the
requirement that notice be given or time elapse or both. 
 “Designated Subsidiary” means any
Subsidiary organized within the United States, directly or indirectly wholly owned by the Company and designated after the date of this Agreement for borrowing privileges hereunder pursuant to Section 9.12. 

“Designation Letter” means a letter entered into by a Designated Subsidiary, the Company and the Agent,
in substantially the form of Exhibit E hereto, pursuant to which such Designated Subsidiary shall become a Borrower hereunder in accordance with Section 9.12. 

 

 5 

 “Disclosed Litigation” has the meaning specified in
Section 3.01(b). 
 “Domestic Lending Office” means, with respect to any Lender, the office
of such Lender specified as its “Domestic Lending Office” opposite its name on Schedule I hereto or in the Assignment and Acceptance pursuant to which it became a Lender, or such other office of such Lender as such Lender may from
time to time specify to the Borrowers and the Agent. 
 “Domestic Subsidiary” means each
Subsidiary of the Company organized in the United States or a political subdivision thereof. 

“Effective Date” has the meaning specified in Section 3.01. 

“Eligible Assignee” means (i) a Lender; (ii) an Affiliate of a Lender; and (iii) any other
Person (unless such Person is taking delivery of an assignment in connection with physical settlement of a credit derivative transaction) approved by the Agent and, unless an Event of Default has occurred and is continuing at the time any assignment
is effected in accordance with Section 9.07, the Company, such approval not to be unreasonably withheld or delayed; provided, however, that neither the Company nor an Affiliate of the Company shall qualify as an Eligible Assignee.

 “Environmental Action” means any action, suit, demand, demand letter, claim, notice of
non-compliance or violation, notice of liability or potential liability, investigation, proceeding, consent order or consent agreement relating in any way to any Environmental Law, Environmental Permit or Hazardous Materials or arising from alleged
injury or threat of injury to health, safety or the environment, including, without limitation, (a) by any governmental or regulatory authority for enforcement, cleanup, removal, response, remedial or other actions or damages, and (b) by
any governmental or regulatory authority or any third party for damages, contribution, indemnification, cost recovery, compensation or injunctive relief. 

“Environmental Law” means any federal, state, local or foreign statute, law, ordinance, rule, regulation,
code, order, judgment, decree or judicial or agency interpretation, policy or guidance relating to pollution or protection of the environment, health, safety or natural resources, including, without limitation, those relating to the use, handling,
transportation, treatment, storage, disposal, release or discharge of Hazardous Materials. 

“Environmental Permit” means any permit, approval, identification number, license or other authorization
required under any Environmental Law. 
 “ERISA” means the Employee Retirement Income Security
Act of 1974, as amended from time to time, and the regulations promulgated and rulings issued thereunder. 

“ERISA Affiliate” means any Person that for purposes of Title IV of ERISA is a member of the
Company’s controlled group, or under common control with the Company, within the meaning of Section 414 of the Internal Revenue Code. 

“ERISA Event” means (a) (i) the occurrence of a reportable event, within the meaning of
Section 4043 of ERISA, with respect to any Plan unless the 30-day notice requirement with respect to such event has been waived by the PBGC, or (ii) the requirements of subsection (1) of Section 4043(b) of ERISA (without regard
to subsection (2) of such Section) are met with respect to a contributing sponsor, as defined in Section 4001(a)(13) of ERISA, of a Plan, and an event described in paragraph (9), (10), (11), (12) or (13) of
Section 4043(c) of ERISA is reasonably expected to occur with respect to such Plan within the following 30 days; (b) the application for a minimum funding waiver with respect to a Plan; (c) the provision by the administrator of any
Plan of a notice of intent to terminate such Plan pursuant to Section 4041(a)(2) of ERISA (including any such notice with respect to a plan amendment referred to in Section 4041(e) of ERISA); (d) the cessation of operations at a
facility of the Company or any ERISA Affiliate in the circumstances described in Section 4062(e) of ERISA; (e) the withdrawal by the Company 

 

 6 

 
or any ERISA Affiliate from a Multiple Employer Plan during a plan year for which it was a substantial employer, as defined in Section 4001(a)(2) of ERISA; (f) the conditions for the
imposition of a lien under Section 302(f) of ERISA shall have been met with respect to any Plan; (g) the adoption of an amendment to a Plan requiring the provision of security to such Plan pursuant to Section 307 of ERISA; or
(h) the institution by the PBGC of proceedings to terminate a Plan pursuant to Section 4042 of ERISA, or the occurrence of any event or condition described in Section 4042 of ERISA that constitutes grounds for the termination of, or
the appointment of a trustee to administer, a Plan. 
 “Eurocurrency Liabilities” has the
meaning assigned to that term in Regulation D of the Board of Governors of the Federal Reserve System, as in effect from time to time. 

“Eurodollar Lending Office” means, with respect to any Lender, the office of such Lender specified as its
“Eurodollar Lending Office” opposite its name on Schedule I hereto or in the Assignment and Acceptance pursuant to which it became a Lender (or, if no such office is specified, its Domestic Lending Office), or such other office of
such Lender as such Lender may from time to time specify to the Borrowers and the Agent. 
 “Eurodollar
Rate” means for any Interest Period for each Eurodollar Rate Advance comprising part of the same Borrowing, an interest rate per annum equal to the rate per annum obtained by dividing (a) the rate per annum (rounded upward to the
nearest whole multiple of 1/16 of 1% per annum) appearing on Telerate Markets Page 3750 (or any successor page) as the London interbank offered rate for deposits in U.S. dollars at approximately 11:00 A.M. (London time) two Business Days prior
to the first day of such Interest Period for a term comparable to such Interest Period or, if for any reason such rate is not available, the average (rounded upward to the nearest whole multiple of 1/16 of 1% per annum, if such average is
not such a multiple) of the rate per annum at which deposits in U.S. dollars is offered by the principal office of each of the Reference Banks in London, England to prime banks in the London interbank market at 11:00 A.M. (London time) two
Business Days before the first day of such Interest Period in an amount substantially equal to such Reference Bank’s Eurodollar Rate Advance comprising part of such Borrowing to be outstanding during such Interest Period and for a period equal
to such Interest Period by (b) a percentage equal to 100% minus the Eurodollar Rate Reserve Percentage for such Interest Period. If the Telerate Markets Page 3750 (or any successor page), is unavailable, the Eurodollar Rate for any Interest
Period for each Eurodollar Rate Advance comprising part of the same Borrowing shall be determined by the Agent on the basis of applicable rates furnished to and received by the Agent from the Reference Banks two Business Days before the first day of
such Interest Period, subject, however, to the provisions of Section 2.08. 

“Eurodollar Rate Advance” means an Advance that bears interest as provided in Section 2.07(a)(ii).

 “Eurodollar Rate Reserve Percentage” for any Interest Period for all Eurodollar Rate Advances
comprising part of the same Borrowing means the reserve percentage applicable two Business Days before the first day of such Interest Period under regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any
successor) for determining the maximum reserve requirement (including, without limitation, any emergency, supplemental or other marginal reserve requirement) for a member bank of the Federal Reserve System in New York City with respect to
liabilities or assets consisting of or including Eurocurrency Liabilities (or with respect to any other category of liabilities that includes deposits by reference to which the interest rate on Eurodollar Rate Advances is determined) having a term
equal to such Interest Period. 
 “Events of Default” has the meaning specified in
Section 6.01. 
 “Facility” means the Revolving Credit Facility, the Letter of Credit
Facility or the Term Facility. 
  

 7 

 “Federal Funds Rate” means, for any period, a fluctuating
interest rate per annum equal for each day during such period to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published for such day (or,
if such day is not a Business Day, for the next preceding Business Day) by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average of the quotations for such day on such
transactions received by the Agent from three Federal funds brokers of recognized standing selected by it. 

“Foreign Assets” means those assets of the Company or any of its Subsidiaries that (a) consist of
capital stock or other equity interests of Subsidiaries that are not Domestic Subsidiaries, (b) are assets owned by Subsidiaries that are not Domestic Subsidiaries or (c) are located outside of the United States. 

“GAAP” has the meaning specified in Section 1.03. 

“Guaranteed Obligations” has the meaning specified in Section 7.01. 

“Guaranty” means the guaranty of the Company set forth in Article VII. 

“Hazardous Materials” means (a) petroleum and petroleum products, byproducts or breakdown products,
radioactive materials, asbestos-containing materials, polychlorinated biphenyls and radon gas and (b) any other chemicals, materials or substances designated, classified or regulated as hazardous or toxic or as a pollutant or contaminant, under
any Environmental Law. 
 “Information Memorandum” means the information memorandum dated
July 7, 2004 used by the Agent in connection with the syndication of the Commitments. 
 “Interest
Period” means, for each Eurodollar Rate Advance comprising part of the same Borrowing, the period commencing on the date of such Eurodollar Rate Advance or the date of the Conversion of any Base Rate Advance into such Eurodollar Rate
Advance and ending on the last day of the period selected by the applicable Borrower pursuant to the provisions below and, thereafter, with respect to Eurodollar Rate Advances, each subsequent period commencing on the last day of the immediately
preceding Interest Period and ending on the last day of the period selected by such Borrower pursuant to the provisions below. The duration of each such Interest Period shall be one, two, three or six months, and subject to clause (c) of this
definition, nine or twelve months, as such Borrower may, upon notice received by the Agent not later than 11:00 A.M. (New York City time) on the third Business Day prior to the first day of such Interest Period, select; provided,
however, that: 
 (a) such Borrower may not select any Interest Period that ends after the Termination
Date; 
 (b) Interest Periods commencing on the same date for Eurodollar Rate Advances comprising part of the
same Borrowing shall be of the same duration; 
 (c) in the case of any such Borrowing, such Borrower shall not
be entitled to select an Interest Period having a duration of nine or twelve months unless, by 2:00 P.M. (New York City time) on the third Business Day prior to the first day of such Interest Period, each Appropriate Lender notifies the Agent that
such Lender will be providing funding for such Borrowing with such Interest Period (the failure of any such Lender to so respond by such time being deemed for all purposes of this Agreement as an objection by such Lender to the requested duration of
such Interest Period); provided that, if any or all of the Appropriate Lenders object to the requested duration of such Interest Period, the duration of the Interest Period for such Borrowing shall be one, two, three or six months, as specified by
the Borrower requesting such Borrowing in the applicable Notice of Borrowing as the desired alternative to an Interest Period of nine or twelve months; 
  

 8 

 (d) whenever the last day of any Interest Period would otherwise occur on a
day other than a Business Day, the last day of such Interest Period shall be extended to occur on the next succeeding Business Day, provided, however, that, if such extension would cause the last day of such Interest Period to occur in
the next following calendar month, the last day of such Interest Period shall occur on the next preceding Business Day; and 

(e) whenever the first day of any Interest Period occurs on a day of an initial calendar month for which there is no
numerically corresponding day in the calendar month that succeeds such initial calendar month by the number of months equal to the number of months in such Interest Period, such Interest Period shall end on the last Business Day of such succeeding
calendar month. 
 “Internal Revenue Code” means the Internal Revenue Code of 1986, as amended
from time to time, and the regulations promulgated and rulings issued thereunder.” 
 “Invested
Amounts” means the amounts invested by investors that are not Affiliates of the Company in connection with a Permitted Receivables Financing and paid to the Company or any of its Subsidiaries, as reduced by the aggregate amounts received by
such investors from the payment of receivables and applied to reduce such invested amounts. 

“Investment” in any Person means any loan or advance to such Person, any purchase or other acquisition of
any capital stock, warrants, rights, options, obligations or other securities or all or substantially all of the assets of such Person, any capital contribution to such Person or any other investment in such Person, including, without limitation,
any arrangement pursuant to which the investor incurs Debt of the types referred to in clauses (g) and (h) of the definition of “Debt” in respect of such Person. 

“Issuing Bank” means an Initial Issuing Bank or any Eligible Assignee to which a portion of the Letter of
Credit Commitment hereunder has been assigned pursuant to Section 9.07 so long as such Eligible Assignee expressly agrees to perform in accordance with their terms all of the obligations that by the terms of this Agreement are required to be
performed by it as an Issuing Bank and notifies the Agent of its Applicable Lending Office (which information shall be recorded by the Agent in the Register), for so long as the Initial Issuing Bank or Eligible Assignee, as the case may be, shall
have a Letter of Credit Commitment. 
 “L/C Cash Collateral Account” means an interest-bearing
cash collateral account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent. 

“L/C Related Documents” has the meaning specified in Section 2.06(b)(i). 

“Lenders” means the Initial Lenders, each Issuing Bank and each Person that shall become a party hereto
pursuant to Section 9.07. 
 “Letter of Credit Agreement” shall have the meaning specified
in Section 2.03(a). 
 “Letter of Credit Commitment” means as to any Issuing Bank
(a) the amount set forth opposite such Issuing Bank’s name on Schedule I hereto under the caption “Letter of Credit Commitment” or (b) if such Issuing Bank has entered into one or more Assignment and Acceptances, the amount
set forth for such Issuing Bank in the Registrar maintained by the Agent pursuant to Section 9.07(d) as such Issuing Bank’s “Letter of Credit Commitment”, as such amount may be reduced at or prior to such time pursuant to
Section 2.05. 
  

 9 

 “Letter of Credit Facility” means, at any time, an amount
equal to the lesser of (a) the aggregate amount of the Issuing Banks’ Letter of Credit Commitments at such time and (b) $100,000,000, as such amount may be reduced at or prior to such time pursuant to Section 2.05. 

“Letters of Credit” has the meaning specified in Section 2.01(b). 

“Lien” means any lien, security interest or other charge or encumbrance of any kind, including, without
limitation, the lien or retained security title of a conditional vendor and any security interest or mortgage granted in real property. 

“Loan Documents” means this Agreement, the Notes, the other L/C Related Documents and the Subsidiary
Guaranty. 
 “Loan Parties” means the Company, each other Borrower and the Subsidiary
Guarantors. 
 “Marketable Securities” means any of the following, to the extent owned by the
Company or any of its Subsidiaries free and clear of all Liens and having a maturity of not greater than 360 days from the date of acquisition thereof: (a) readily marketable direct obligations of the Government of the United States or any
agency or instrumentality thereof or obligations unconditionally guaranteed by the full faith and credit of the Government of the United States, (b) insured certificates of deposit of or time deposits with any commercial bank that is a Lender
or a member of the Federal Reserve System, issues (or the parent of which issues) commercial paper rated as described in clause (c), is organized under the laws of the United States or any State thereof and has combined capital and surplus of
at least $1 billion, (c) commercial paper in an aggregate amount of no more than $10,000,000 per issuer outstanding at any time, issued by any corporation organized under the laws of any State of the United States and rated at least
“Prime-1” (or the then equivalent grade) by Moody’s or “A-1” (or the then equivalent grade) by S&P, (d) fully collateralized repurchase agreements having a term of not more than 30 days and covering securities
described in subsection (a) above entered into with any Lender or bank meeting the qualifications specified in (b) above or (e) investments in money market funds substantially all of the assets of which are comprised of securities
described in subsection (a) through (d) above. 
 “Material Adverse Change” means any
material adverse change in the business, condition (financial or otherwise) or results of operations of the Company and its Subsidiaries taken as a whole (including the Target and its Subsidiaries after giving effect to the Acquisition). 

“Material Adverse Effect” means a material adverse effect on (a) the business, condition (financial
or otherwise) or operations of the Company and its Subsidiaries taken as a whole, (b) the rights and remedies of the Agent or any Lender under this Agreement or any Note or (c) the ability of any Borrower to perform its obligations under
this Agreement or any Note. 
 “Material Domestic Subsidiary” means each Domestic Subsidiary of
the Company (other than Receivables Subsidiaries) that has either (a) Consolidated assets with a value of not less than 2% of the total value of the assets of the Company and its Subsidiaries, taken as a whole, or (b) Consolidated revenues
of not less than 2% of the total revenues of the Company and its Subsidiaries, taken as a whole. 

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

“Multiemployer Plan” means a multiemployer plan, as defined in Section 4001(a)(3) of ERISA, to which
the Company or any ERISA Affiliate is making or accruing an obligation to make contributions, or has within any of the preceding five plan years made or accrued an obligation to make contributions. 

“Multiple Employer Plan” means a single employer plan, as defined in Section 4001(a)(15) of ERISA,
that (a) is maintained for employees of the Company or any ERISA Affiliate and at least one Person other than the Company and the ERISA Affiliates or (b) was so maintained and in respect of which the Company or any ERISA Affiliate could
have liability under Section 4064 or 4069 of ERISA in the event such plan has been or were to be terminated. 
  

 10 

 “Net Cash Proceeds” means, with respect to any sale, lease,
transfer or other disposition of any asset or the incurrence or issuance of any Debt or the sale or issuance of any equity interests (including, without limitation, any capital contribution) by any Person, the aggregate amount of cash received from
time to time (whether as initial consideration or through payment or disposition of deferred consideration) by or on behalf of such Person in connection with such transaction after deducting therefrom only (without duplication) (a) reasonable
and customary brokerage commissions, underwriting fees and discounts, legal and accounting fees, filing fees, finder’s fees and other similar fees and commissions and (b) the amount of taxes payable in connection with or as a result of
such transaction and (c) the amount of any Debt secured by a Lien on such asset that, by the terms of the agreement or instrument governing such Debt, is required to be repaid upon such disposition, in each case to the extent, but only to the
extent, that the amounts so deducted are, at the time of receipt of such cash, actually paid to a Person that is not an Affiliate of such Person and are properly attributable to such transaction or to the asset that is the subject thereof.

 “Note” means a Revolving Credit Note or a Term Note. 

“Notice of Borrowing” has the meaning specified in Section 2.02(a). 

“Notice of Issuance” has the meaning specified in Section 2.03(a). 

“Other Taxes” has the meaning specified in Section 2.14(b). 

“PBGC” means the Pension Benefit Guaranty Corporation (or any successor). 

“Permitted Receivables Financing” means the limited recourse sale (or other transfer) of accounts
receivable by the Company or any of its Subsidiaries in connection with the securitization thereof, which sale (or other transfer) is non-recourse to the extent customary in securitizations and consistent with past practice and which is upon terms
and conditions reasonably satisfactory to the Administrative Agent; provided that the sum of, without duplication, (a) the aggregate Invested Amounts and (b) the outstanding principal amount of obligations secured by receivables
(and related assets) for all such Permitted Receivables Financings shall not exceed $250,000,000 at any time outstanding. 

“Person” means an individual, partnership, corporation (including a business trust), joint stock company,
trust, unincorporated association, joint venture, limited liability company or other entity, or a government or any political subdivision or agency thereof. 

“Plan” means a Single Employer Plan or a Multiple Employer Plan. 

“Public Debt Rating” means, as of any date, the rating that has been most recently announced by either
S&P or Moody’s, as the case may be, for any class of non-credit enhanced long-term senior unsecured debt issued by the Company or, if either of S&P or Moody’s has issued more than one such rating, the lowest such rating issued by
such rating agency. For purposes of the foregoing, (a) if only one of S&P and Moody’s shall have in effect a Public Debt Rating, the Applicable Margin, the Applicable Facility Fee Rate and the Applicable Utilization Fee shall be
determined by reference to the available rating; (b) if neither S&P nor Moody’s shall have in effect a Public Debt Rating, the Applicable Margin, the Applicable Facility Fee Rate and the Applicable Utilization Fee will be set in
accordance with Level 6 under the definition of “Applicable Margin”, “Applicable Facility Fee Rate” or “Applicable Utilization Fee”, as the case may be; (c) if any rating established by
S&P or Moody’s shall be changed, such change shall be effective as of the date on which such change is first announced publicly by the rating agency making such change; (d) if S&P or Moody’s shall change the basis on which
ratings are established, each reference to the Public Debt Rating announced by S&P or Moody’s, as the case may be, shall refer to the then equivalent rating by S&P or Moody’s, as the case may be; and (e) if the ratings
established by S&P 
  

 11 

 
and Moody’s shall fall within different levels below Level 2, the Applicable Margin, Applicable Facility Fee Rate and the Applicable Utilization Fee shall be based upon the higher rating,
unless the lower of such ratings is more than one level below the higher of such ratings, in which case the Applicable Margin, the Applicable Facility Fee Rate and the Applicable Utilization Fee shall be based upon the level that is one level above
the lower of such ratings. 
 “Ratable Share” of any amount means, with respect to any Revolving
Credit Lender at any time, the product of (a) a fraction, the numerator of which is the amount of such Lender’s Revolving Credit Commitment at such time and the denominator of which is the aggregate Revolving Credit Commitments at such
time and (b) such amount. 
 “Receivables Subsidiary” means a Domestic Subsidiary of the
Company that has as its sole purpose to engage in, and engages solely in, Permitted Receivables Financings permitted under this Agreement. 

“Reference Banks” means Citibank and KeyBank National Association. 

“Register” has the meaning specified in Section 9.07(d). 

“Required Lenders” means at any time Lenders owed at least a majority in interest of the sum of
(a) the aggregate principal amount of the Advances outstanding at such time, (b) the aggregate Available Amount of all Letters of Credit outstanding at such time, (c) the aggregate unused Commitments under the Term Facility at such
time and (d) the aggregate Unused Revolving Credit Commitments at such time. For purposes of this definition, the Available Amount of each Letter of Credit shall be considered to be owed to the Revolving Credit Lenders ratably in accordance
with their respective Revolving Credit Commitments. 
 “Revolving Credit Advance” means an
advance by a Lender to the Borrower as part of a Borrowing under Section 2.01(a) and refers to a Base Rate Advance or a Eurodollar Rate Advance (each of which shall be a “Type” of Advance). 

“Revolving Credit Borrowing” means a borrowing consisting of simultaneous Revolving Credit Advances of
the same Type made by the Revolving Credit Lenders. 
 “Revolving Credit Commitment” means as to
any Lender (a) the amount set forth opposite such Lender’s name on Schedule I hereto as such Lender’s “Revolving Credit Commitment” or (b) if such Lender has entered into any Assignment and Acceptance, the amount set
forth for such Lender in the Register maintained by the Agent pursuant to Section 9.07(d), as such amount may be reduced pursuant to Section 2.05. 

“Revolving Credit Facility” means, at any time, the aggregate amount of the Revolving Credit
Lenders’ Revolving Credit Commitments at such time. 
 “Revolving Credit Lender” means any
Lender that has a Revolving Credit Commitment. 
 “Revolving Credit Note” means a promissory
note of a Borrower payable to the order of any Revolving Credit Lender, delivered pursuant to a request made under Section 2.16 in substantially the form of Exhibit A-1 hereto, evidencing the aggregate indebtedness of such Borrower to such
Lender resulting from the Revolving Credit Advances made by such Lender. 
 “S&P” means
Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. 
 “Single Employer
Plan” means a single employer plan, as defined in Section 4001(a)(15) of ERISA, that (a) is maintained for employees of the Company or any ERISA Affiliate and no Person other than the Company and the ERISA Affiliates or
(b) was so maintained and in respect of which the Company or any ERISA Affiliate could have liability under Section 4069 of ERISA in the event such plan has been or were to be terminated. 

 

 12 

 “Subordinated Obligations” has the meaning specified in
Section 7.05. 
 “Subsidiary” of any Person means any corporation, partnership, joint
venture, limited liability company, trust or estate of which (or in which) more than 50% of (a) the issued and outstanding capital stock having ordinary voting power to elect a majority of the Board of Directors of such corporation
(irrespective of whether at the time capital stock of any other class or classes of such corporation shall or might have voting power upon the occurrence of any contingency), (b) the interest in the capital or profits of such limited liability
company, partnership or joint venture or (c) the beneficial interest in such trust or estate is at the time directly or indirectly owned or controlled by such Person, by such Person and one or more of its other Subsidiaries or by one or more of
such Person’s other Subsidiaries. 
 “Subsidiary Guarantor” means each Domestic Subsidiary
of the Company existing on the date hereof (other than those Domestic Subsidiaries listed on Schedule 1.01 hereto) and each other Material Domestic Subsidiary of the Company that becomes a party to the Subsidiary Guaranty pursuant to
Section 5.01(i). 
 “Subsidiary Guaranty” has the meaning specified in
Section 3.01(h)(i). 
 “Target” means Noveon International, Inc. 

“Taxes” has the meaning specified in Section 2.14(a). 

“Term Advance” has the meaning specified in Section 2.01(c). 

“Term Borrowing” means a borrowing consisting of simultaneous Term Advances of the same Type made by the
Term Lenders. 
 “Term Commitment” means as to any Lender (a) the amount set forth opposite
such Lender’s name on Schedule I hereto as such Lender’s “Term Commitment” or (b) if such Lender has entered into any Assignment and Acceptance, the amount set forth for such Lender in the Register maintained by the Agent
pursuant to Section 9.07(d) as such Lender’s “Term Commitment”, as such amount may be reduced pursuant to Section 2.05. 

“Term Facility” means, at any time, the aggregate amount of the Term Lenders’ Term Commitments at
such time. 
 “Term Lender” means any Lender that has a Term Commitment. 

“Term Note” means a promissory note of a Borrower payable to the order of any Term Lender, delivered
pursuant to a request made under Section 2.16 in substantially the form of Exhibit A-2 hereto, evidencing the indebtedness of such Borrower to such Lender resulting from the Term Advances made by such Lender. 

“Termination Date” means the earlier of (a) August 24, 2009 and (b) the date of
termination in whole of the Commitments pursuant to Section 2.05 or 6.01. 
 “Type” refers
to the distinction between Base Rate Advances and Eurodollar Rate Advances. 
 “Unused Revolving Credit
Commitment” means, with respect to each Revolving Credit Lender at any time, (a) such Lender’s Revolving Credit Commitment at such time minus (b) the sum of (i) the aggregate principal amount of all Revolving
Credit Advances made by such Lender (in its capacity as a Revolving Credit Lender) and outstanding at such time, plus (ii) such Lender’s Ratable Share of the aggregate Available Amount of all the Letters of Credit outstanding at
such time. 
  

 13 

 “Voting Stock” means capital stock issued by a corporation,
or equivalent interests in any other Person, the holders of which are ordinarily, in the absence of contingencies, entitled to vote for the election of directors (or persons performing similar functions) of such Person, even if the right so to vote
has been suspended by the happening of such a contingency. 
 SECTION 1.02. Computation of Time Periods. In this
Agreement in the computation of periods of time from a specified date to a later specified date, the word “from” means “from and including” and the words “to” and “until” each mean “to but
excluding”. 
 SECTION 1.03. Accounting Terms. Except as otherwise expressly provided herein, all terms of an
accounting or financial nature shall be construed in accordance with generally accepted accounting principles in the United States, as in effect from time to time (“GAAP”); provided that, if the Company notifies the Agent
that the Company requests an amendment to any provision hereof as a result of a change in GAAP or in the application thereof on the operation of such provision (or if the Agent notifies the Company that the Required Lenders request an amendment to
any provision hereof for such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP in effect and applied immediately
before such change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith. 

ARTICLE II 

AMOUNTS AND TERMS OF THE ADVANCES AND LETTERS OF CREDIT 

SECTION 2.01. The Advances and Letters of Credit. (a) Revolving Credit Advances. 

Each Revolving Credit Lender severally agrees, on the terms and conditions hereinafter set forth, to make Revolving Credit Advances to
the Borrowers from time to time on any Business Day during the period from the Effective Date until the Termination Date in an amount not to exceed at any time such Lender’s Unused Revolving Credit Commitment. Each Borrowing shall be in an
amount not less than the Borrowing Minimum or a Borrowing Multiple in excess thereof and shall consist of Revolving Credit Advances of the same Type made on the same day by the Revolving Credit Lenders ratably according to their respective Revolving
Credit Commitments. Within the limits of each Revolving Credit Lender’s Revolving Credit Commitment, the Borrowers may borrow under this Section 2.01(a), prepay pursuant to Section 2.10 and reborrow under this Section 2.01(a).

 (b) Letters of Credit. Each Issuing Bank agrees, on the terms and conditions hereinafter set forth, to issue letters
of credit (each, a “Letter of Credit”) for the account of any Borrower from time to time on any Business Day during the period from the Effective Date until 30 days before the Termination Date in an aggregate Available Amount
(i) for all Letters of Credit issued by each Issuing Bank not to exceed at any time the lesser of (x) the Letter of Credit Facility at such time and (y) such Issuing Bank’s Letter of Credit Commitment at such time and
(ii) for each such Letter of Credit not to exceed an amount equal to the aggregate Unused Revolving Credit Commitments of the Revolving Credit Lenders at such time. Each Letter of Credit shall be in a face amount of $1,000,000 or more. No
Letter of Credit shall have an expiration date (including all rights of the applicable Borrower or the beneficiary to require renewal) later than the earlier of (x) the date that is one year after the date of issuance thereof or (y) 10
Business Days prior to the Termination Date. Within the limits referred to above, the Borrowers may request the issuance of Letters of Credit under this Section 2.01(b), repay any Revolving Credit Advances resulting from drawings thereunder
pursuant to Section 2.03(c) and request the issuance of additional Letters of Credit under this Section 2.01(b). Each letter of credit listed on Schedule 2.01(b) shall be deemed to constitute a Letter of Credit issued hereunder, and each
Lender that is an issuer of such a Letter of Credit shall, for purposes of Section 2.03, be deemed to be an Issuing Bank for each such letter of credit, provided that any renewal or replacement of any such letter of credit shall be issued by an
Issuing Bank pursuant to the terms of this Agreement. 
  

 14 

 (c) The Term Advances. Each Term Lender severally agrees, on the terms and conditions
hereinafter set forth, to make a single advance (a “Term Advance”) to any Borrower on the Effective Date in an amount not to exceed such Lender’s Term Commitment. The Term Borrowing shall consist of Term Advances made
simultaneously by the Term Lenders ratably according to their Term Commitments. Amounts borrowed under this Section 2.01(c) and repaid or prepaid may not be reborrowed. 

SECTION 2.02. Making the Advances. (a) Except as otherwise provided in Section 2.03(c), each Borrowing shall be made on
notice, given not later than (x) 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Borrowing in the case of a Borrowing consisting of Eurodollar Rate Advances or (y) 11:00 A.M. (New York
City time) on the date of the proposed Borrowing in the case of a Borrowing consisting of Base Rate Advances, by the applicable Borrower to the Agent, which shall give to each Appropriate Lender prompt notice thereof by telecopier. Each such notice
of a Borrowing (a “Notice of Borrowing”) shall be by telephone, confirmed immediately in writing, or telecopier in substantially the form of Exhibit B hereto, specifying therein the requested (i) date and Facility of such
Borrowing, (ii) Type of Advances comprising such Borrowing, (iii) aggregate amount of such Borrowing, and (iv) in the case of a Borrowing consisting of Eurodollar Rate Advances, initial Interest Period for each such Advance. Each
Appropriate Lender shall, before 1:00 P.M. (New York City time) on the date of such Borrowing, make available for the account of its Applicable Lending Office to the Agent at the Agent’s Account, in same day funds, such Lender’s
ratable portion of such Borrowing. After the Agent’s receipt of such funds and upon fulfillment of the applicable conditions set forth in Section 3.03, the Agent shall make such funds available to the Borrower that requested such Advance
by depositing such funds to such account as such Borrower shall specify. 
 (b) Anything in subsection (a) above to the
contrary notwithstanding, (i) the Borrowers may not select Eurodollar Rate Advances for any Borrowing if the aggregate amount of such Borrowing is less than the Borrowing Minimum or if the obligation of the Appropriate Lenders to make
Eurodollar Rate Advances shall then be suspended pursuant to Section 2.08 or 2.12 and (ii) the Eurodollar Rate Advances may not be outstanding as part of more than fifteen separate Borrowings. 

(c) Each Notice of Borrowing shall be irrevocable and binding on the Borrower giving such Notice. In the case of any Borrowing that the
related Notice of Borrowing specifies is to be comprised of Eurodollar Rate Advances, the Borrower giving such Notice shall indemnify each Appropriate Lender against any loss, cost or expense incurred by such Lender as a result of any failure to
fulfill on or before the date specified in such Notice of Borrowing for such Borrowing the applicable conditions set forth in Section 3.03, including, without limitation, any loss, cost or expense incurred by reason of the liquidation or
reemployment of deposits or other funds acquired by such Lender to fund the Advance to be made by such Lender as part of such Borrowing when such Advance, as a result of such failure, is not made on such date. 

(d) Unless the Agent shall have received notice from an Appropriate Lender prior to the date of any Borrowing under a Facility under
which such Lender has a Commitment that such Lender, contrary to its Commitment, will not make available to the Agent such Lender’s ratable portion of such Borrowing, the Agent may assume that such Lender has made such portion available to the
Agent on the date of such Borrowing in accordance with subsection (a) of this Section 2.02 and the Agent may, in reliance upon such assumption, make available to the applicable Borrower on such date a corresponding amount. If and to the
extent that such Lender shall not have so made such ratable portion available to the Agent, such Lender and such Borrower severally agree to repay without duplication to the Agent forthwith on demand such corresponding amount together with interest
thereon, for each day from the date such amount is made available to such Borrower until the date such amount is repaid to the Agent, at (i) in the case of such Borrower, the interest rate applicable at the time to Advances comprising such
Borrowing and (ii) in the case of such Lender, the Federal Funds Rate. If such Lender shall repay to the Agent such corresponding amount, such amount so repaid shall constitute such Lender’s Advance as part of such Borrowing for purposes
of this Agreement. 
  

 15 

 (e) The failure of any Lender to make the Advance to be made by it as part of any Borrowing
shall not relieve any other Lender of its obligation, if any, hereunder to make its Advance on the date of such Borrowing, but no Lender shall be responsible for the failure of any other Lender to make the Advance to be made by such other Lender on
the date of any Borrowing. Nothing herein shall be deemed to prejudice any rights which any Borrower may have against a Lender as a result of any default by a Lender hereunder. 

SECTION 2.03. Issuance of and Drawings and Reimbursement Under Letters of Credit. (a) Request for Issuance. Each
Letter of Credit shall be issued upon notice, given not later than 1:00 P.M. (New York City time) on the fifth Business Day prior to the date of the proposed issuance of such Letter of Credit (or on such shorter notice as the applicable
Issuing Bank may agree), by any Borrower to any Issuing Bank, and such Issuing Bank shall give the Agent, prompt notice thereof by telecopier. Each such notice of issuance of a Letter of Credit (a “Notice of Issuance”) shall be by
telephone, confirmed immediately in writing, or telecopier, specifying therein the requested (i) date of such issuance (which shall be a Business Day), (ii) Available Amount of such Letter of Credit, (iii) expiration date of such
Letter of Credit (which shall not be later one year after the issuance thereof), (iv) name and address of the beneficiary of such Letter of Credit and (v) form of such Letter of Credit, and shall be accompanied by such customary
application and agreement for letter of credit as such Issuing Bank may specify to the Borrower requesting such issuance for use in connection with such requested Letter of Credit (a “Letter of Credit Agreement”). If the requested
form of such Letter of Credit is acceptable to such Issuing Bank in its sole discretion, such Issuing Bank will, upon fulfillment of the applicable conditions set forth in Article III, make such Letter of Credit available to the Borrower
requesting such issuance at its office referred to in Section 9.02 or as otherwise agreed with such Borrower in connection with such issuance. In the event and to the extent that the provisions of any Letter of Credit Agreement shall conflict
with this Agreement, the provisions of this Agreement shall govern. 
 (b) Participations. By the issuance of a Letter of
Credit (or an amendment to a Letter of Credit increasing the amount thereof) and without any further action on the part of the applicable Issuing Bank or the Revolving Credit Lenders, such Issuing Bank hereby grants to each Revolving Credit Lender,
and each Revolving Credit Lender hereby acquires from such Issuing Bank, a participation in such Letter of Credit equal to such Lender’s Ratable Share of the aggregate amount available to be drawn under such Letter of Credit. The Borrowers
hereby agree to each such participation. In consideration and in furtherance of the foregoing, each Revolving Credit Lender hereby absolutely and unconditionally agrees to pay to the Agent, for the account of such Issuing Bank, such Lender’s
Ratable Share of each drawing made under a Letter of Credit funded by such Issuing Bank and not reimbursed by the applicable Borrower on the date made, or of any reimbursement payment required to be refunded to a Borrower for any reason. Each
Revolving Credit Lender acknowledges and agrees that its obligation to acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever,
including any amendment, renewal or extension of any Letter of Credit or the occurrence and continuance of a Default or reduction or termination of the Revolving Credit Commitments, and that each such payment shall be made without any offset,
abatement, withholding or reduction whatsoever. Each Revolving Credit Lender further acknowledges and agrees that its participation in each Letter of Credit will be automatically adjusted to reflect such Lender’s Ratable Share of the Available
Amount of such Letter of Credit at each time such Lender’s Revolving Credit Commitment is amended pursuant to an assignment in accordance with Section 9.07 or otherwise pursuant to this Agreement. 

(c) Drawing and Reimbursement. The payment by an Issuing Bank of a draft drawn under any Letter of Credit shall constitute for all
purposes of this Agreement the making by any such Issuing Bank of a Revolving Credit Advance, which shall be a Base Rate Advance, in the amount of such draft. Each Issuing Bank shall give prompt notice (and such Issuing Bank will use its
commercially reasonable efforts to deliver such notice within one Business Day) of each drawing under any Letter of Credit issued by it to the applicable Borrower and the Agent. Upon written demand by such Issuing Bank, with a copy of such demand to
the Agent, each Revolving Credit Lender shall pay to the Agent such Lender’s Ratable Share of such outstanding Revolving Credit Advance, by making available for the account of its Applicable Lending Office to the Agent for the account of such
Issuing Bank, by deposit to the Agent’s Account, in same day funds, an amount equal to the portion of the outstanding principal amount of such Revolving Credit Advance to be funded by such Lender. Promptly after receipt thereof, the Agent shall
transfer such funds to such Issuing Bank. Each Revolving Credit Lender agrees to fund its Ratable Share of an outstanding Revolving Credit Advance on (i) the Business Day on which demand therefor is made by such Issuing Bank, provided
that notice of such demand is given not later than 11:00 A.M. (New York City time) on such Business Day, or (ii) the first Business Day next succeeding such demand if notice of such demand is given after such time. If and to the
extent that any Revolving Credit Lender shall not have so made the amount of such 
  

 16 

 
Revolving Credit Advance available to the Agent, such Lender agrees to pay to the Agent forthwith on demand such amount together with interest thereon, for each day from the date of demand by any
such Issuing Bank until the date such amount is paid to the Agent, at the Federal Funds Rate for its account or the account of such Issuing Bank, as applicable. If such Revolving Credit Lender shall pay to the Agent such amount for the account of
any such Issuing Bank on any Business Day, such amount so paid in respect of principal shall constitute a Revolving Credit Advance made by such Lender on such Business Day for purposes of this Agreement, and the outstanding principal amount of the
Revolving Credit Advance made by such Issuing Bank shall be reduced by such amount on such Business Day. 
 (d) Letter of
Credit Reports. Each Issuing Bank shall furnish (i) to the Agent on the first Business Day of each month a written report summarizing issuance and expiration dates of Letters of Credit during the preceding month and drawings during such
month under all Letters of Credit issued by it and (ii) to the Agent and each Revolving Credit Lender on the first Business Day of each calendar quarter a written report setting forth the average daily aggregate Available Amount during the
preceding calendar quarter of all Letters of Credit issued by it. 
 (e) Failure to Make Revolving Credit Advances. The
failure of any Revolving Credit Lender to make the Revolving Credit Advance to be made by it on the date specified in Section 2.03(c) shall not relieve any other Revolving Credit Lender of its obligation hereunder to make its Revolving Credit
Advance on such date, but no Lender shall be responsible for the failure of any other Revolving Credit Lender to make the Revolving Credit Advance to be made by such other Lender on such date. 

SECTION 2.04. Fees. (a) Facility Fee. The Borrowers agree to pay to the Agent for the account of each Revolving Credit
Lender a facility fee on the aggregate amount of such Lender’s Revolving Credit Commitment from the Effective Date in the case of each Initial Lender and from the effective date specified in the Assignment and Acceptance pursuant to which it
became a Revolving Credit Lender in the case of each other Revolving Credit Lender until the Termination Date at a rate per annum equal to the Applicable Facility Fee Rate in effect from time to time, payable in arrears quarterly on the last day of
each March, June, September and December, commencing September 30, 2004, and on the Termination Date. 
 (b) Letter of
Credit Fees. (i) The Borrowers shall pay to the Agent for the account of each Revolving Credit Lender a commission on such Lender’s Ratable Share of the average daily aggregate Available Amount of all Letters of Credit outstanding from
time to time at a rate per annum equal to the Applicable Margin for Eurodollar Rate Advances in effect from time to time, payable in arrears quarterly on the last day of each March, June, September and December, commencing September 30, 2004,
and on the Termination Date, and after the Termination Date payable upon demand; provided that the Applicable Margin shall increase by 2% upon the occurrence and during the continuation of an Event of Default if the Borrowers are required to
pay default interest pursuant to Section 2.07(b). 
 (ii) The Borrowers shall pay to each Issuing Bank for
its own account such reasonable and customary fronting, issuance, presentation, amendment and other processing fees as may from time to time be agreed in writing between the Borrowers and such Issuing Bank. 

(c) Agent’s Fees. The Company shall pay to the Agent for its own account the fees set forth in the fee letter between the
Company and the Agent or as may from time to time be otherwise agreed in writing between the Company and the Agent. 
 SECTION
2.05. Termination or Reduction of the Commitments. (a) Optional. (i) The Company shall have the right, upon at least three Business Days’ notice to the Agent, to terminate in whole or permanently reduce ratably in part
the Unused Revolving Credit Commitments, provided that each partial reduction (A) shall be in the aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and (B) shall be made ratably among the
Revolving Credit Lenders in accordance with their Revolving Credit Commitments. (ii) The Company shall have the right, upon at least three Business Days’ notice to the Agent, to terminate in whole or permanently reduce ratably in part the
unused Letter of Credit Commitments, provided that, to the extent practicable, each partial reduction shall be made ratably among the Issuing Banks in accordance with their Letter of Credit Commitments. 

 

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 (b) Mandatory. On the Effective Date, after giving effect to the Term Borrowing made
on such date, and from time to time thereafter upon each repayment or prepayment of the Term Advances, the aggregate Term Commitments of the Term Lenders shall be automatically and permanently reduced, on a pro rata basis by an amount equal to the
amount by which the aggregate Term Commitments immediately prior to such reduction exceed the aggregate unpaid principal amount of the Term Advances then outstanding. 

SECTION 2.06. Repayment. (a) Revolving Credit Advances. The Borrowers shall repay to the Agent for the ratable account
of the Revolving Credit Lenders on the Termination Date the aggregate principal amount of the Revolving Credit Advances then outstanding. 

(b) Letter of Credit Reimbursements. The obligations of the Borrowers under this Agreement, any Letter of Credit Agreement and any
other agreement or instrument, in each case, relating to any Letter of Credit shall be unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement, such Letter of Credit Agreement and such other agreement
or instrument under all circumstances, including, without limitation, the following circumstances (it being understood that any such payment by the Borrowers is without prejudice to, and does not constitute a waiver of, any rights the Borrowers
might have or might acquire as a result of the payment by any Revolving Credit Lender of any draft or the reimbursement by the Borrowers thereof or any claim that a Borrower might have under Section 9.13): 

(i) any lack of validity or enforceability of this Agreement, any Letter of Credit, any Letter of Credit Agreement or any
other agreement or instrument, in each case, relating thereto (all of the foregoing being, collectively, the “L/C Related Documents”); 

(ii) any change in the time, manner or place of payment of, or in any other term of, all or any of the obligations of the
Borrowers in respect of any L/C Related Document or any other amendment or waiver of or any consent to departure from all or any of the L/C Related Documents; 

(iii) the existence of any claim, set-off, defense or other right that the Borrowers may have at any time against any
beneficiary or any transferee of a Letter of Credit (or any Persons for which any such beneficiary or any such transferee may be acting), any Issuing Bank, the Agent, any Lender or any other Person, whether in connection with the transactions
contemplated by the L/C Related Documents or any unrelated transaction; 
 (iv) any statement or any other
document presented under a Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; 

(v) payment by any Issuing Bank under a Letter of Credit against presentation of a draft or certificate that does not
strictly comply with the terms of such Letter of Credit; 
 (vi) any exchange, release or non-perfection of any
collateral, or any release or amendment or waiver of or consent to departure from any guarantee, for all or any of the obligations of the Borrowers in respect of the L/C Related Documents; or 

(vii) any other circumstance or happening whatsoever, whether or not similar to any of the foregoing, including, without
limitation, any other circumstance that might otherwise constitute a defense available to, or a discharge of, the Borrowers or a guarantor. 

(c) Term Advances. The Borrowers shall repay Term Advances to the Agent for the ratable account of the Term Lenders in quarterly
installments of $14,375,000 on the last day of each March, June, September and December, commencing March 31, 2005 and the balance, if any, on the fifth anniversary of the Effective Date. 

 

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 SECTION 2.07. Interest on Advances. (a) Scheduled Interest. The Borrowers
shall pay interest on the unpaid principal amount of each Advance owing to each Appropriate Lender from the date of such Advance until such principal amount shall be paid in full, at the following rates per annum: 

(i) Base Rate Advances. During such periods as such Advance is a Base Rate Advance, a rate per annum equal at all
times to the sum of (x) the Base Rate in effect from time to time plus (y) the Applicable Margin in effect from time to time plus (z) the Applicable Utilization Fee, if applicable, in effect from time to time, payable in
arrears quarterly on the last day of each March, June, September and December during such periods and on the date such Base Rate Advance shall be Converted or paid in full. 

(ii) Eurodollar Rate Advances. During such periods as such Advance is a Eurodollar Rate Advance, a rate per annum
equal at all times during each Interest Period for such Advance to the sum of (x) the Eurodollar Rate for such Interest Period for such Advance plus (y) the Applicable Margin in effect from time to time plus (z) the
Applicable Utilization Fee, if applicable, in effect from time to time, payable in arrears on the last day of such Interest Period and, if such Interest Period has a duration of more than three months, on each day that occurs during such Interest
Period every three months from the first day of such Interest Period and on the date such Eurodollar Rate Advance shall be Converted or paid in full. 

(b) Default Interest. Upon the occurrence and during the continuance of an Event of Default that has not been waived, the Agent
may, and upon the request of the Required Lenders shall, require the Borrowers to pay interest (“Default Interest”) on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates
referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest
extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be
paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above; provided, however, that following
acceleration of the Advances pursuant to Section 6.01, Default Interest shall accrue and be payable hereunder whether or not previously required by the Agent. 

SECTION 2.08. Interest Rate Determination. (a) Each Reference Bank agrees to furnish to the Agent timely information for the
purpose of determining each Eurodollar Rate. If any one or more of the Reference Banks shall not furnish such timely information to the Agent for the purpose of determining any such interest rate, the Agent shall determine such interest rate on the
basis of timely information furnished by the remaining Reference Banks. The Agent shall give prompt notice to the Borrowers and the Appropriate Lenders of the applicable interest rate determined by the Agent for purposes of Section 2.07(a)(i)
or (ii), and the rate, if any, furnished by each Reference Bank for the purpose of determining the interest rate under Section 2.07(a)(ii). 

(b) If, with respect to any Eurodollar Rate Advances under any Facility, the Required Lenders notify the Agent that the Eurodollar Rate
for any Interest Period for such Advances will not adequately reflect the cost to such Required Lenders, as determined in the exercise of each such Lender’s commercially reasonable discretion, of making, funding or maintaining their respective
Eurodollar Rate Advances for such Interest Period, the Agent shall forthwith so notify the Borrowers and the Appropriate Lenders, whereupon (A) the Borrowers will, on the last day of the then existing Interest Period therefor, either
(x) prepay such Advances or (y) Convert such Advances into Base Rate Advances and (B) the obligation of the Appropriate Lenders to make, or to Convert Advances into, Eurodollar Rate Advances shall be suspended until the Agent shall
notify the Borrowers and the Appropriate Lenders that the circumstances causing such suspension no longer exist. 
 (c) If any
Borrower shall fail to select the duration of any Interest Period for any Eurodollar Rate Advances in accordance with the provisions contained in the definition of “Interest Period” in Section 1.01, the Agent will forthwith so notify
such Borrower and the Appropriate Lenders and such Advances will automatically, on the last day of the then existing Interest Period therefor, Convert into Base Rate Advances. 

 

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 (d) On the date on which the aggregate unpaid principal amount of Eurodollar Rate Advances
comprising any Borrowing shall be reduced, by payment or prepayment or otherwise, to less than the Borrowing Minimum, such Advances shall automatically Convert into Base Rate Advances. 

(e) Upon the occurrence and during the continuance of any Event of Default that has not been waived, (i) each Eurodollar Rate
Advance will automatically, on the last day of the then existing Interest Period therefor, be Converted into Base Rate Advances and (ii) the obligation of the Lenders to make, or to Convert Advances into, Eurodollar Rate Advances shall be
suspended. 
 (f) If Telerate Markets Page 3750 is unavailable and fewer than two Reference Banks furnish timely information to
the Agent for determining the Eurodollar Rate for any Eurodollar Rate Advances, 
 (i) the Agent shall forthwith
notify the Borrowers and the Appropriate Lenders that the interest rate cannot be determined for such Eurodollar Rate Advances, 

(ii) with respect to Eurodollar Rate Advances, each such Advance will automatically, on the last day of the then existing
Interest Period therefor, Convert into a Base Rate Advance (or if such Advance is then a Base Rate Advance, will continue as a Base Rate Advance), and 

(iii) the obligation of the Lenders to make Eurodollar Rate Advances or to Convert Advances into Eurodollar Rate Advances
shall be suspended until the Agent shall notify the Borrowers and the Lenders that the circumstances causing such suspension no longer exist. 

SECTION 2.09. Optional Conversion of Advances. Any Borrower may on any Business Day, upon notice given to the Agent not later than
11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.08 and 2.12, Convert any or all Advances of one Type comprising the same Borrowing made
to it into Advances of the other Type; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any
Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b), no Conversion of any Advances shall result in more separate Borrowings than permitted under
Section 2.02(b) and each Conversion of Advances comprising part of the same Borrowing under any Facility shall be made ratably among the Appropriate Lenders in accordance with their Commitments under such Facility. Each such notice of a
Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest
Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the Borrower giving such notice. 

SECTION 2.10. Prepayments of Advances. (a) Optional. Any Borrower may, upon notice at least two Business Days prior to
the date of such prepayment, in the case of Eurodollar Rate Advances, and not later than 11:00 A.M. (New York City time) on the date of such prepayment, in the case of Base Rate Advances, to the Agent stating the proposed date and aggregate
principal amount of the prepayment, and if such notice is given, such Borrower shall prepay the outstanding principal amount of the Advances comprising part of the same Borrowing in whole or ratably in part, together with accrued interest to the
date of such prepayment on the principal amount prepaid; provided, however, that (x) each partial prepayment shall be in an aggregate principal amount not less than the Borrowing Minimum or a Borrowing Multiple in excess thereof
and (y) in the event of any such prepayment of a Eurodollar Rate Advance, the applicable Borrower shall be obligated to reimburse the Appropriate Lenders in respect thereof pursuant to Section 9.04(c). Prepayments of Term Advances shall be
applied in forward order of maturity. 
 (b) Mandatory. (i) The Borrowers shall, on the first Business Day after the
date of receipt of the Net Cash Proceeds in excess of $100,000,000 individually or $250,000,000 in the aggregate by the Company or any of its Subsidiaries from the sale, lease, transfer or other disposition of any assets of the Company or any of its
Subsidiaries (other than any sale, lease, transfer or other disposition of assets pursuant to clause (i), (ii), (iii) or (iv) of Section 5.02(d)), prepay an aggregate principal amount of the Term Advances comprising part of the same
Borrowings in an amount equal to the amount of such Net Cash Proceeds. Each such prepayment shall be applied ratably to the Term Advances comprising a Borrowing in forward order of maturity. 

 

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 (ii) Each prepayment made pursuant to this Section 2.10(b) shall be made together with
any interest accrued to the date of such prepayment on the principal amounts prepaid and, in the case of any prepayment of a Eurodollar Rate Advance on a date other than the last day of an Interest Period or at its maturity, any additional amounts
which the Borrowers shall be obligated to reimburse to the Appropriate Lenders in respect thereof pursuant to Section 9.04(c). The Agent shall give prompt notice of any prepayment required under this Section 2.10(b) to the Borrowers and
the Appropriate Lenders. 
 SECTION 2.11. Increased Costs. (a) If, due to either (i) the introduction of or any
change in or in the interpretation of any law or regulation or (ii) the compliance with any guideline or request from any central bank or other governmental authority including, without limitation, any agency of the European Union or similar
monetary or multinational authority (whether or not having the force of law), there shall be any increase in the cost to any Lender of agreeing to make or making, funding or maintaining Eurodollar Rate Advances or agreeing to issue or of issuing or
maintaining or participating in Letters of Credit (excluding for purposes of this Section 2.11 any such increased costs resulting from taxes (as to which Section 2.14 shall govern)), then the Borrowers shall from time to time, without
premium or penalty, upon written demand by such Lender (with a copy of such demand to the Agent), pay to the Agent for the account of such Lender additional amounts sufficient to compensate such Lender for such increased cost; provided
however, that at such time such Lender shall be generally assessing such amounts on a non-discriminatory basis against borrowers under agreements having provisions similar to this Section. A certificate as to the amount of such increased
cost, submitted to the Borrowers and the Agent by such Lender, shall be conclusive and binding for all purposes, absent error in the calculation of such amounts. 

(b) If any Lender determines that compliance with any law or regulation or any guideline or request from any central bank or other
governmental authority (whether or not having the force of law) affects or would affect the amount of capital required or expected to be maintained by such Lender or any corporation controlling such Lender (taking into consideration such
Lender’s (or such controlling corporation’s) policies with respect to capital adequacy) and that the amount of such capital is increased by or based upon the existence of such Lender’s commitment to lend or to issue or participate in
Letters of Credit hereunder and other commitments of this type or the issuance or maintenance of or participation in the Letters of Credit (or similar contingent obligations), then, upon written demand by such Lender (with a copy of such demand to
the Agent), the Borrowers shall pay to the Agent for the account of such Lender, from time to time as specified by such Lender, without premium or penalty, additional amounts sufficient to compensate such Lender or such corporation in the light of
such circumstances, to the extent that such Lender reasonably determines such increase in capital to be allocable to the existence of such Lender’s commitment to lend or to issue or participate in Letters of Credit hereunder or the issuance or
maintenance of or participation in the Letters of Credit; provided, however, that at such time such Lender shall be generally assessing such amounts on a non-discriminatory basis against borrowers under agreements having provisions
similar to this Section. A certificate as to such amounts submitted to the Borrowers and the Agent by such Lender shall be conclusive and binding for all purposes, absent error in the calculation of such amounts. 

(c) Each Lender will notify the Company of any change that will entitle such Lender to compensation under this Section 2.10 as
promptly as practicable, but in any event within 90 days after such Lender obtains knowledge thereof; provided, however, that, if any Lender fails to give such notice within 90 days after it obtains knowledge of such change, such
Lender shall, with respect to compensation payable in respect of any costs resulting from such change, only be entitled to payment for costs incurred from and after the date that such Lender does give such notice plus, if such change shall have
retroactive effect, costs resulting from such change during the period of retroactive effect thereof. Any Lender claiming any additional amounts payable pursuant to this Section agrees to use reasonable efforts (consistent with its internal policy
and legal and regulatory restrictions) to change the jurisdiction of its Eurodollar Lending Office if the making of such a change would avoid the need for, or reduce the amount of, any such additional amounts that may thereafter accrue and would
not, in the reasonable judgment of such Lender, be otherwise disadvantageous to such Lender. 
  

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 SECTION 2.12. Illegality. Notwithstanding any other provision of this Agreement, if
any Lender shall notify the Agent that the introduction of or any change in or in the interpretation of any law or regulation makes it unlawful, or any central bank or other governmental authority asserts that it is unlawful, for any Lender or its
Eurodollar Lending Office to perform its obligations hereunder to make Eurodollar Rate Advances or to fund or maintain Eurodollar Rate Advances hereunder, (a) each Eurodollar Rate Advance under the Facility under which such Lender has a
Commitment will automatically, upon such demand, be Converted into a Base Rate Advance and (b) the obligation of the Appropriate Lenders to make Eurodollar Rate Advances or to Convert Advances into Eurodollar Rate Advances shall be suspended
until the Agent shall notify the Borrowers and the Lenders that the circumstances causing such suspension no longer exist. 

SECTION 2.13. Payments and Computations. (a) The Borrowers shall make each payment hereunder, irrespective of any right of
counterclaim or set-off, not later than 11:00 A.M. (New York City time) on the day when due in U.S. dollars to the Agent at the Agent’s Account in same day funds. The Agent will promptly thereafter cause to be distributed like funds
relating to the payment of principal or interest or facility fees ratably (other than amounts payable pursuant to Section 2.04(b)(ii), 2.11, 2.14 or 9.04(c)) to the Appropriate Lenders for the account of their respective Applicable Lending
Offices, and like funds relating to the payment of any other amount payable to any Lender to such Lender for the account of its Applicable Lending Office, in each case to be applied in accordance with the terms of this Agreement. Upon its acceptance
of an Assignment and Acceptance and recording of the information contained therein in the Register pursuant to Section 9.07(c), from and after the effective date specified in such Assignment and Acceptance, the Agent shall make all payments
hereunder and under the Notes in respect of the interest assigned thereby to the Lender assignee thereunder, and the parties to such Assignment and Acceptance shall make all appropriate adjustments in such payments for periods prior to such
effective date directly between themselves. 
 (b) All computations of interest based on the Base Rate shall be made by the
Agent on the basis of a year of 365 or 366 days, as the case may be, and all computations of interest based on the Eurodollar Rate or the Federal Funds Rate and of fees and Letter of Credit commissions shall be made by the Agent on the basis of a
year of 360 days, in each case for the actual number of days (including the first day but excluding the last day) occurring in the period for which such interest, fees or commissions are payable. Each determination by the Agent of an interest rate
hereunder shall be conclusive and binding for all purposes, absent manifest error. 
 (c) Whenever any payment hereunder or
under the Notes shall be stated to be due on a day other than a Business Day, such payment shall be made on the Business Day next succeeding, and such extension of time shall in such case be included in the computation of payment of interest, fee or
commission, as the case may be; provided, however, that, if such extension would cause payment of interest on or principal of Eurodollar Rate Advances to be made in the next following calendar month, such payment shall be made on the
Business Day next preceding. 
 (d) Unless the Agent shall have received notice from the applicable Borrower prior to the date
on which any payment is due to the Appropriate Lenders hereunder that such Borrower will not make such payment in full, the Agent may assume that such Borrower has made such payment in full to the Agent on such date and the Agent may, in reliance
upon such assumption, cause to be distributed to each Appropriate Lender on such due date an amount equal to the amount then due such Lender. If and to the extent any Borrower shall not have so made such payment in full to the Agent, each Lender
shall repay to the Agent forthwith on demand such amount distributed to such Lender together with interest thereon, for each day from the date such amount is distributed to such Lender until the date such Lender repays such amount to the Agent, at
the Federal Funds Rate. 
 (e) If the Agent receives funds for application to the obligations hereunder under circumstances for
which neither this Agreement nor any Borrower specifies the Advances or the Facility to which, or the manner in which, such funds are to be applied, the Agent may, but shall not be obligated to, elect to distribute such funds to each Lender ratably
in accordance with such Lender’s proportionate share of the sum of the principal amount of all outstanding Advances and the Available Amount of all Letters of Credit then outstanding, in repayment or prepayment of such of the outstanding
Advances or other obligations owed to such Lender, and for application to such principal installments, as the Agent shall direct. 

SECTION 2.14. Taxes. (a) Any and all payments by the Borrowers to or for the account of any Lender or the Agent hereunder or
under the Notes shall be made, in accordance with Section 2.13 or the applicable provisions of such other documents, free and clear of and without 

 

 22 

 
deduction for any and all present or future taxes, levies, imposts, deductions, charges or withholdings, and all liabilities with respect thereto, excluding, in the case of each Lender and
the Agent, (i) foreign, United States federal, state and local taxes imposed on its overall net income and franchise taxes imposed on it in lieu of net income taxes by the jurisdiction under the laws of which such Lender or the Agent (as the
case may be) is organized or any political subdivision thereof, or by any jurisdiction where such Lender or the Agent (as the case may be) is doing business or any political subdivision thereof and, in the case of each Lender, taxes imposed on its
overall net income, and franchise taxes imposed on it in lieu of net income taxes, by the jurisdiction of such Lender’s Applicable Lending Office or any political subdivision thereof, or by any jurisdiction where such Lender’s Applicable
Lending Office is doing business or any political subdivision thereof and (ii) United States state and local withholding taxes (in the appropriate amount) on the gross amount of interest paid by the Borrowers for which such Lender or the Agent
(as the case may be) is entitled to a credit for such withholding taxes against a tax described in (i) (all such non-excluded taxes, levies, imposts, deductions, charges, withholdings and liabilities in respect of payments hereunder or under
the Notes being hereinafter referred to as “Taxes”). If any Borrower shall be required by law to deduct any Taxes from or in respect of any sum payable hereunder or under any Note or any other documents to be delivered hereunder to
any Lender or the Agent, (x) the sum payable shall be increased as may be necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 2.14) such Lender or the Agent
(as the case may be) receives an amount equal to the sum it would have received had no such deductions been made, (y) such Borrower shall make such deductions and (z) such Borrower shall pay the full amount deducted to the relevant
taxation authority or other authority in accordance with applicable law. For the avoidance of doubt, if any Borrower shall be required by a court of competent jurisdiction to pay over an amount other than as Taxes, there shall be no adjustment as to
such payment under this Section 2.14(a). 
 (b) In addition, the Borrowers shall pay any present or future stamp or
documentary taxes or any other excise or property taxes, charges or similar levies that arise from any payment made hereunder or under the Notes any other documents to be delivered hereunder or from the execution, delivery or registration of,
performing under, or otherwise with respect to, this Agreement or the Notes or any other documents to be delivered hereunder (hereinafter referred to as “Other Taxes”). 

(c) The Borrowers shall indemnify each Lender and the Agent for and hold it harmless against the full amount of Taxes or Other Taxes
(including, without limitation, taxes of any kind imposed or asserted by any jurisdiction on amounts payable under this Section 2.14) imposed on or paid by such Lender or the Agent (as the case may be) and any liability (including penalties,
interest and expenses) arising therefrom or with respect thereto. This indemnification shall be made within 30 days from the date such Lender or the Agent (as the case may be) makes written demand therefor. 

(d) Within 30 days after the date of any payment of Taxes, the Borrowers shall furnish to the Agent, at its address referred to in
Section 9.02, the original or a certified copy of a receipt evidencing such payment to the extent such a receipt is issued therefor, or other written proof of payment thereof that is reasonably satisfactory to the Agent. 

(e) Each Lender organized under the laws of a jurisdiction outside the United States, on or prior to the date of its execution and
delivery of this Agreement in the case of each Initial Lender and on the date of the Assignment and Acceptance pursuant to which it becomes a Lender in the case of each other Lender, and from time to time thereafter as reasonably requested in
writing by the Borrowers (but only so long as such Lender remains lawfully able to do so), shall provide each of the Agent and the Borrowers with two original Internal Revenue Service forms W-8BEN or W-8ECI, as appropriate, or any successor or
other form prescribed by the Internal Revenue Service, properly certifying that such Lender is exempt from or entitled to a reduced rate of United States withholding tax on payments pursuant to this Agreement or the Notes. If the form provided by a
Lender at the time such Lender first becomes a party to this Agreement indicates a United States interest withholding tax rate in excess of zero, withholding tax at such rate shall be considered excluded from Taxes (and tax withheld in excess of
such rate shall be included in Taxes) unless and until such Lender provides the appropriate forms certifying that a lesser rate applies, whereupon withholding tax at such lesser rate only shall be considered excluded from Taxes for periods governed
by such form; provided, however, that, if at the date of the Assignment and Acceptance pursuant to which a Lender assignee becomes a party to this Agreement, the Lender assignor was entitled to payments under subsection (a) in
respect of United States withholding tax with respect to interest paid at such date, then, to such 
  

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extent, the term Taxes shall include (in addition to withholding taxes that may be imposed in the future or other amounts otherwise includable in Taxes) United States withholding tax, if any,
applicable with respect to the Lender assignee on such date. If any form or document referred to in this subsection (e) requires the disclosure of information, other than information necessary to compute the tax payable and information required
on the date hereof by Internal Revenue Service form W-8BEN or W-8ECI, that the Lender reasonably considers to be confidential, the Lender shall give notice thereof to the Borrowers and shall not be obligated to include in such form or document
such confidential information. For purposes of this subsection (e), the terms “United States” and “United States person” shall have the meanings specified in Section 7701 of the Internal Revenue Code.

 (f) For any period with respect to which a Lender has failed to provide the Borrowers with the appropriate form, certificate
or other document described in Section 2.14(e) (other than if such failure is due to a change in law, or in the interpretation or application thereof, occurring subsequent to the date on which a form, certificate or other document
originally was required to be provided, or if such form otherwise is not required under subsection (e) above), such Lender shall not be entitled to indemnification under Section 2.14(a) or (c) with respect to Taxes imposed by the
United States by reason of such failure and the Borrowers may withhold at the full United States statutory withholding tax rate on interest (currently, 30%); provided, however, that should a Lender become subject to Taxes because of
its failure to deliver a form, certificate or other document required hereunder, the Borrowers shall take such steps as the Lender shall reasonably request to assist the Lender to recover such Taxes. 

SECTION 2.15. Sharing of Payments, Etc. If any Lender shall obtain any payment (whether voluntary, involuntary, through the
exercise of any right of set-off, or otherwise) on account of the Advances owing to it (other than pursuant to Section 2.11, 2.14 or 9.04(c)) in excess of its ratable share of payments on account of the Advances obtained by all the Lenders,
such Lender shall forthwith purchase from the other Lenders such participations in the Advances owing to them as shall be necessary to cause such purchasing Lender to share the excess payment ratably with each of them; provided,
however, that if all or any portion of such excess payment is thereafter recovered from such purchasing Lender, such purchase from each Lender shall be rescinded and such Lender shall repay to the purchasing Lender the purchase price to the
extent of such recovery together with an amount equal to such Lender’s ratable share (according to the proportion of (i) the amount of such Lender’s required repayment to (ii) the total amount so recovered from the purchasing
Lender) of any interest or other amount paid or payable by the purchasing Lender in respect of the total amount so recovered. Each Borrower agrees that any Lender so purchasing a participation from another Lender pursuant to this Section 2.15
may, to the fullest extent permitted by law, exercise all its rights of payment (including the right of set-off as provided in Section 9.05) with respect to such participation as fully as if such Lender were the direct creditor of such Borrower
in the amount of such participation. 
 SECTION 2.16. Evidence of Debt. (a) Each Lender shall maintain in accordance
with its usual practice an account or accounts evidencing the indebtedness of each Borrower to such Lender resulting from each Advance owing to such Lender from time to time, including the amounts of principal and interest payable and paid to such
Lender from time to time hereunder in respect of Advances. Each Borrower agrees that upon notice by any Lender to such Borrower (with a copy of such notice to the Agent) to the effect that a Note is required or appropriate in order for such Lender
to evidence (whether for purposes of pledge, enforcement or otherwise) the Advances owing to, or to be made by, such Lender, such Borrower shall promptly execute and deliver to such Lender a Revolving Credit Note and a Term Note, as applicable, in
substantially the form of Exhibits A-1 and A-2 hereto, respectively, payable to the order of such Lender in a principal amount equal to the Revolving Credit Commitment and the Term Commitment, respectively, of such Lender. 

(b) The Register maintained by the Agent pursuant to Section 9.07(d) shall include a control account, and a subsidiary account for
each Lender, in which accounts (taken together) shall be recorded (i) the date and amount of each Borrowing made hereunder, the Type of Advances comprising such Borrowing, the Facility of such Borrowing and, if appropriate, the Interest Period
applicable thereto, (ii) the terms of each Assignment and Acceptance delivered to and accepted by it, (iii) the amount of any principal or interest due and payable or to become due and payable from each Borrower to each Lender hereunder
and (iv) the amount of any sum received by the Agent from each Borrower hereunder and each Lender’s share thereof. 
  

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 (c) Entries made in good faith by the Agent in the Register pursuant to subsection
(b) above, and by each Lender in its account or accounts pursuant to subsection (a) above, shall be prima facie evidence of the amount of principal and interest due and payable or to become due and payable from each Borrower
to, in the case of the Register, each Lender and, in the case of such account or accounts, such Lender, under this Agreement, absent manifest error; provided, however, that the failure of the Agent or such Lender to make an entry, or
any finding that an entry is incorrect, in the Register or such account or accounts shall not limit or otherwise affect the obligations of the Borrowers under this Agreement. 

SECTION 2.17. Use of Proceeds. The proceeds of the Advances shall be available (and each of the Borrowers agrees that it or its
Subsidiaries, as applicable, shall use such proceeds) solely to repay Debt of the Company and for general corporate purposes of the Company and its Subsidiaries. 

ARTICLE III 

CONDITIONS TO EFFECTIVENESS AND LENDING 

SECTION 3.01. Conditions Precedent to Effectiveness of Section 2.01. Section 2.01 of this Agreement shall become
effective on and as of the first date on or prior to November 15, 2004 (the “Effective Date”) on which the following conditions precedent have been satisfied: 

(a) There shall have occurred no Material Adverse Change since December 31, 2003. 

(b) There shall exist no action, suit, investigation, litigation or proceeding affecting the Company or any of its
Subsidiaries pending or, to the knowledge of the Company, threatened before any court, governmental agency or arbitrator that (i) could be reasonably likely to have a Material Adverse Effect other than the matters described on
Schedule 3.01(b) hereto (the “Disclosed Litigation”) or (ii) purports to affect the legality, validity or enforceability of this Agreement or any Note or the consummation of the transactions contemplated hereby, and there
shall have been no material adverse change in the status, or financial effect on the Company or any of its Subsidiaries, of the Disclosed Litigation from that described on Schedule 3.01(b) hereto. 

(c) Nothing shall have come to the attention of the Lenders during the course of their due diligence investigation to lead
them to believe that the Information Memorandum was or has become misleading, incorrect or incomplete in any material respect; without limiting the generality of the foregoing, the Lenders shall have been given such access to the management,
records, books of account, contracts and properties of the Company and its Subsidiaries as they shall have reasonably requested. 

(d) All governmental and third party consents and approvals necessary in connection with the transactions contemplated
hereby shall have been obtained (without the imposition of any conditions that are not acceptable to the Lenders) and shall remain in effect, all applicable waiting periods in connection with the Acquisition shall have expired without any action
being taken by any competent authority, and no law or regulation shall be applicable in the reasonable judgment of the Lenders, in each case that restrains, prevents or imposes materially adverse conditions upon the transactions contemplated hereby.

 (e) The Company shall have notified each Lender and the Agent in writing as to the proposed Effective Date.

 (f) The Company shall have paid all accrued fees and expenses of the Agent and the Lenders (including the
accrued reasonable fees and expenses of counsel to the Agent). 
  

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 (g) On the Effective Date, the following statements shall be true and the
Agent shall have received for the account of each Lender a certificate signed by a duly authorized officer of the Company, dated the Effective Date, stating that: 

(i) The representations and warranties contained in Section 4.01 are correct on and as of the Effective Date, and

 (ii) No event has occurred and is continuing that constitutes a Default. 

(h) The Agent shall have received on or before the Effective Date the following, each dated such day, in form and
substance satisfactory to the Agent and (except for the Notes) in sufficient copies for each Lender: 
 (i) A
guaranty in substantially the form of Exhibit F hereto (together with each other guaranty and guaranty supplement delivered pursuant to Section 5.01(i), in each case as amended, the “Subsidiary Guaranty”), duly executed by
each Subsidiary Guarantor. 
 (ii) The Notes to the Lenders to the extent requested by any Lender pursuant to
Section 2.16. 
 (iii) Certified copies of the resolutions of the Board of Directors of each Loan Party
approving each Loan Document to which it is a party, and of all documents evidencing other necessary corporate action and governmental approvals, if any, with respect to each Loan Document to which it is a party. 

(iv) Copies of the unaudited pro forma Consolidated balance sheet of the Company and its Subsidiaries as at
December 31, 2003, and the related pro forma Consolidated statements of income and cash flows of the Company and its Subsidiaries for the fiscal year then ended, giving effect to the Acquisition as of January 1, 2003. 

(v) A certificate of the Secretary or an Assistant Secretary of each Loan Party certifying the names and true signatures
of the officers of such Loan Party authorized to sign each Loan Document to which it is a party and the other documents to be delivered hereunder. 

(vi) A favorable opinion of the Vice President and General Counsel of the Company, substantially in the form of
Exhibit D hereto. 
 (vii) A favorable opinion of Shearman & Sterling LLP, counsel for the Agent,
in form and substance satisfactory to the Agent. 
 (i) The Company shall have received not less than
$425,000,000 in Net Cash Proceeds from the sale of the common equity of the Company. 
 (j) The Company shall
have received not less than $1,000,000,000 in Net Cash Proceeds from the issuance of senior notes in the public debt markets. 

(k) The Company’s Public Debt Rating shall be not lower than BB+ (stable) from S&P and not lower than Baa3
(stable) from Moody’s. 
 (l) The Company shall have terminated the commitments of the lenders and paid in
full all Debt outstanding under (i) the $350,000,000 Five Year Credit Agreement dated as of July 17, 2001, as amended, among the Borrower, the lenders parties thereto and Citibank, N.A, as administrative agent and (ii) the
$2,450,000,000 Credit Agreement dated as of May 28, 2004. By execution of this Agreement, each of the Lenders that is a lender under either such credit agreement referred to above hereby waives any requirement set forth in such credit agreement
of prior notice relating to the termination of their commitments thereunder. 
  

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 SECTION 3.02. Conditions Precedent to the Initial Borrowing of Each Designated
Subsidiary. The obligation of each Lender to make an initial Advance to each Designated Subsidiary following its designation as a Borrower hereunder pursuant to Section 9.12 on the occasion of the initial Borrowing thereby is subject to the
Agent’s receipt on or before the date of such initial Borrowing of each of the following, in form and substance satisfactory to the Agent and dated such date: 

(a) The Designation Letter of such Designated Subsidiary, in substantially the form of Exhibit E hereto. 

(b) The Note of such Designated Subsidiary to the Lenders to the extent requested by any Lender pursuant to
Section 2.15. 
 (c) A certificate of the Secretary or an Assistant Secretary (or person performing similar
functions) of such Designated Subsidiary certifying (i) appropriate resolutions of the board of directors (or persons performing similar functions) of such Designated Subsidiary approving this Agreement and its Notes, and all documents
evidencing other necessary corporate (or equivalent) action and governmental approvals, if any, with respect to this Agreement and its Notes (copies of which shall be attached thereto) and (ii) the names and true signatures of the officers of
such Designated Subsidiary authorized to sign the Designation Letter of such Designated Subsidiary and its Notes and the other documents to be delivered by such Designated Subsidiary hereunder. 

(d) A copy of a certificate of the Secretary of State (or other appropriate Governmental Authority) of the jurisdiction of
organization of such Designated Subsidiary, dated reasonably near the date of such Borrowing, certifying that such Designated Subsidiary is duly organized and in good standing (or the equivalent thereof) under the laws of the jurisdiction of
its organization. 
 (e) A certificate signed by a duly authorized officer of such Designated Subsidiary, dated
as of the date of such Borrowing, certifying that such Designated Subsidiary has obtained all authorizations, consents, approvals (including, without limitation, exchange control approvals) and licenses of any Governmental Authority or other third
party necessary for such Designated Subsidiary to execute and deliver its Designation Letter and its Notes and to perform its obligations under this Agreement or any of its Notes. 

(f) Such other documents, opinions and other information as any Lender, through the Agent, may reasonably request.

 SECTION 3.03. Conditions Precedent to Each Borrowing and Issuance. The obligation of each Appropriate Lender to make
an Advance on the occasion of each Borrowing and the obligations of each Issuing Bank to issue a Letter of Credit shall be subject to the conditions precedent that the Effective Date shall have occurred and on the date of such Borrowing or such
issuance (a) the following statements shall be true (and each of the giving of the applicable Notice of Borrowing, Notice of Issuance and the acceptance by such Borrower of the proceeds of such Borrowing shall constitute a representation and
warranty by such Borrower that on the date of such Borrowing or such issuance such statements are true): 
 (i)
the representations and warranties contained in Section 4.01 (except, in the case of Borrowings made after the initial Borrowing and in the case of the issuance of Letters of Credit, the representations set forth in the last sentence of
subsection (e) thereof) (and, if such Borrowing shall have been requested by a Designated Subsidiary, the representations and warranties of such Designated Subsidiary contained in its Designation Letter) are correct on and as of such date,
before and after giving 
  

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effect to such Borrowing or such issuance and to the application of the proceeds therefrom, as though made on and as of such date except to the extent that such representations and warranties
expressly relate to an earlier specified date, and 
 (ii) no event has occurred and is continuing, or would
result from such Borrowing or such issuance or from the application of the proceeds therefrom, that constitutes a Default; 
 and (b) the
Agent shall have received such other approvals, opinions or documents as any Appropriate Lender through the Agent may reasonably request. 

SECTION 3.04. Determinations Under Section 3.01. For purposes of determining compliance with the conditions specified in
Section 3.01, each Lender shall be deemed to have consented to, approved or accepted or to be satisfied with each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to the Lenders unless
an officer of the Agent responsible for the transactions contemplated by this Agreement shall have received notice from such Lender prior to the date that the Company, by notice to the Lenders, designates as the proposed Effective Date, specifying
its objection thereto. The Agent shall promptly notify the Lenders of the occurrence of the Effective Date. 
 ARTICLE IV

 REPRESENTATIONS AND WARRANTIES 

SECTION 4.01. Representations and Warranties of the Company. The Company represents and warrants as follows: 

(a) Each Loan Party is a Person duly organized, validly existing and in good standing under the laws of the jurisdiction
of its formation. 
 (b) The execution, delivery and performance by each Loan Party of each Loan Document to
which it is a party and to be delivered by it, and the consummation of the transactions contemplated hereby, are within such Loan Party’s corporate or other powers, have been duly authorized by all necessary corporate or other action, and do
not contravene (i) such Loan Party’s charter or code of regulations or comparable organizational documents or (ii) any applicable law or any contractual restriction in any material contract or, to the knowledge of the chief financial
officer of the Company, any other contract the breach of which would limit the ability of any Loan Party to perform its obligations under any Loan Document, binding on or affecting any Loan Party. 

(c) No authorization or approval or other action by, and no notice to or filing with, any governmental authority or
regulatory body or any other third party is required for the due execution, delivery and performance by any Loan Party of any Loan Document to which it is a party and to be delivered by it or for the consummation of the transactions contemplated
hereby, other than authorizations, approvals, actions, notices or filings (i) that have been duly obtained, taken, given or made and are in full force and effect or (ii) as to which the failure to obtain, take, give or make would not
reasonably be likely to result in a Material Adverse Effect. 
 (d) This Agreement has been, and each of the
other Loan Documents to be delivered by it when delivered hereunder will have been, duly executed and delivered by each Loan Party party thereto. This Agreement is, and the other Loan Documents when delivered hereunder will be, the legal, valid and
binding obligation of each Loan Party party thereto enforceable against such Loan Party in accordance with their respective terms, except to the extent that the enforceability thereof may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or other similar laws generally affecting creditors’ rights and by equitable principles (regardless of whether enforcement is sought in equity or law). 

 

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 (e) The Consolidated balance sheet of the Company and its Subsidiaries as at
December 31, 2003, and the related Consolidated statements of income and cash flows of the Company and its Subsidiaries for the fiscal year then ended, accompanied by an opinion of Deloitte & Touche LLP, independent public accountants,
and the Consolidated balance sheet of the Company and its Subsidiaries as at March 31, 2004, and the related Consolidated statements of income and cash flows of the Company and its Subsidiaries for the three months then ended, duly certified by
the chief financial officer of the Company, copies of which have been furnished to each Lender, fairly present, subject, in the case of said balance sheet as at March 31, 2004, and said statements of income and cash flows for the three months
then ended, to year-end audit adjustments, the Consolidated financial condition of the Company and its Subsidiaries as at such dates and the Consolidated results of the operations of the Company and its Subsidiaries for the periods ended on such
dates, all in accordance with GAAP consistently applied. Since December 31, 2003, there has been no Material Adverse Change. 

(f) The unaudited Consolidated and consolidating pro forma balance sheets of the Company and its Subsidiaries as at
December 31, 2003, and the related unaudited Consolidated and consolidating pro forma statements of income and cash flows of the Company and its Subsidiaries for the year then ended, certified by the Chief Financial Officer of the Company,
copies of which have been furnished to each Lender, fairly present, to the Chief Financial Officer’s best knowledge, the Consolidated and consolidating pro forma financial condition of the Company and its Subsidiaries as at such date and
the Consolidated and consolidating pro forma results of operations of the Company and its Subsidiaries for the period ended on such date, in each case giving effect to the Acquisition as of January 1, 2003, all in accordance with GAAP.

 (g) There is no pending or, to the Company’s knowledge, threatened action, suit, investigation,
litigation or proceeding, including, without limitation, any Environmental Action, affecting the Company or any of its Subsidiaries before any court, governmental agency or arbitrator that (i) would be reasonably likely to have a Material
Adverse Effect (other than the Disclosed Litigation) or (ii) purports to affect the legality, validity or enforceability of this Agreement or any other Loan Document or the consummation of the transactions contemplated hereby, and there has
been no adverse change in the status, or financial effect on the Company or any of its Subsidiaries, of the Disclosed Litigation from that described on Schedule 3.01(b) hereto. 

(h) The Information Memorandum and any other information, exhibit or report that has been or will hereafter be furnished
by or on behalf of the Company or any other Loan Party to the Agent or any Lender in connection with the negotiation and syndication of this Agreement or pursuant to the terms of this Agreement is and will be when furnished, taken as a whole,
complete and correct in all material respects and does not and will not, when furnished, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements contained therein not misleading in
light of the circumstances under which such statements were or are made. 
 (i) The Company is not engaged in the
business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulation U issued by the Board of Governors of the Federal Reserve System), and no proceeds of any Advance will be used to purchase or
carry any margin stock or to extend credit to others for the purpose of purchasing or carrying any margin stock. 

(j) No Loan Party is an “investment company”, or a company “controlled” by an “investment
company”, within the meaning of the Investment Company Act of 1940, as amended. 
 (k) The Company is,
individually and together with its Subsidiaries, Solvent. “Solvent” means, with respect to any Person on a particular date, that on such date (i) the fair value of the property of such Person is greater than the total amount of
liabilities, including, without limitation, contingent liabilities, of such Person, (ii) the present fair salable value of the assets of such Person is not less than the amount that will be required to pay the probable liability of such Person
on its debts as they become 
  

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absolute and matured, (iii) such Person does not intend to, and does not believe that it will, incur debts or liabilities beyond such Person’s ability to pay such debts and liabilities
as they mature and (iv) such Person is not engaged in business or a transaction, and is not about to engage in business or a transaction, for which such Person’s property would constitute an unreasonably small capital. The amount of
contingent liabilities at any time shall be computed as the amount that, in the light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability.

 ARTICLE V 

COVENANTS OF THE BORROWERS 

SECTION 5.01. Affirmative Covenants. So long as any Advance shall remain unpaid, any Letter of Credit shall remain outstanding or
any Lender shall have any Commitment hereunder, each Borrower will: 
 (a) Compliance with Laws, Etc.
Comply, and cause each of its Subsidiaries to comply, in all material respects, with all applicable laws, rules, regulations and orders, such compliance to include, without limitation, compliance with ERISA and Environmental Laws. 

(b) Payment of Taxes, Etc. Pay and discharge, and cause each of its Subsidiaries to pay and discharge, before the
same shall become delinquent, (i) all taxes, assessments and governmental charges or levies imposed upon it or upon its property and (ii) all lawful claims that, if unpaid, might by law become a Lien upon its property; provided,
however, that neither such Borrower nor any of its Subsidiaries shall be required to pay or discharge any such tax, assessment, charge or claim that is being contested in good faith and by proper proceedings. 

(c) Maintenance of Insurance. Maintain, and cause each of its Subsidiaries to maintain, insurance with responsible
and reputable insurance companies or associations in such amounts and covering such risks as is usually carried by companies engaged in similar businesses and owning similar properties in the same general areas in which such Borrower or such
Subsidiary operates; provided, however, that such Borrower and its Subsidiaries may self-insure to the same extent as other companies engaged in similar businesses and owning similar properties and to the extent consistent with prudent
business practice. 
 (d) Preservation of Corporate Existence, Etc. Preserve and maintain, and cause each
of its Subsidiaries to preserve and maintain, its corporate existence, rights (charter and statutory) and franchises; provided, however, that such Borrower and its Subsidiaries may consummate any merger or consolidation permitted under
Section 5.02(b) and provided further that neither such Borrower nor any of its Subsidiaries shall be required to preserve any right or franchise if the Board of Directors (or equivalent governing body) of such Borrower or such
Subsidiary shall determine that the preservation thereof is no longer desirable in the conduct of the business of such Borrower or such Subsidiary, as the case may be, and that the loss thereof is not disadvantageous in any material respect to such
Borrower, such Subsidiary or the Lenders. 
 (e) Visitation Rights. At any reasonable time and from time
to time, upon reasonable notice and during normal business hours, permit the Agent or any of the Lenders or any agents or representatives thereof, to examine and make copies of and abstracts from the records and books of account of, and visit the
properties of, such Borrower and any of its Subsidiaries, and to discuss the affairs, finances and accounts of such Borrower and any of its Subsidiaries with any of their officers or directors and with their independent certified public accountants.

 (f) Keeping of Books. Keep, and cause each of its Subsidiaries to keep, proper books of record and
account, in which full and correct entries shall be made of all financial transactions and the assets and business of such Borrower and each such Subsidiary in accordance with GAAP in effect from time to time. 

 

 30 

 (g) Maintenance of Properties, Etc. Maintain and preserve, and cause
each of its Subsidiaries to maintain and preserve, all of its properties that are used or useful in the conduct of its business in good working order and condition, ordinary wear and tear excepted. 

(h) Reporting Requirements. Furnish to the Lenders: 

(i) as soon as available and in any event within 45 days after the end of each of the first three quarters of each fiscal
year of the Company, the Consolidated balance sheet of the Company and its Subsidiaries as of the end of such quarter and Consolidated statements of income and cash flows of the Company and its Subsidiaries for the period commencing at the end of
the previous fiscal year and ending with the end of such quarter, duly certified (subject to year-end audit adjustments) by the chief financial officer of the Company as having been prepared in accordance with GAAP and certificates of the chief
financial officer of the Company as to compliance with the terms of this Agreement and setting forth in reasonable detail the calculations necessary to demonstrate compliance with Section 5.03; 

(ii) as soon as available and in any event within 90 days after the end of each fiscal year of the Company, a copy of the
annual report for such year for the Company and its Subsidiaries, containing the Consolidated balance sheet of the Company and its Subsidiaries as of the end of such fiscal year and Consolidated statements of income and cash flows of the Company and
its Subsidiaries for such fiscal year, in each case accompanied by an opinion acceptable to the Required Lenders by Deloitte & Touche LLP or other independent public accountants reasonably acceptable to the Required Lenders. There shall
also be provided, in reasonable detail, the calculations necessary to demonstrate compliance with Section 5.03; 

(iii) as soon as possible and in any event within five days after a responsible officer of the Company knows or should
have known of the occurrence of each Default continuing on the date of such statement, a statement of the chief financial officer of the Company setting forth details of such Default and the action that the Company has taken and/or proposes to take
with respect thereto; 
 (iv) promptly after the sending or filing thereof, copies of all reports that the
Company sends to any of its security holders, and copies of all reports and registration statements that the Company or any Subsidiary files with the Securities and Exchange Commission or any national securities exchange; 

(v) promptly after the commencement thereof, notice of all actions and proceedings before any court, governmental agency
or arbitrator affecting the Company or any of its Subsidiaries of the type described in Section 4.01(g); and 

(vi) such other information respecting the Company or any of its Subsidiaries as any Lender through the Agent may from
time to time reasonably request. 
 (i) New Domestic Subsidiaries. Promptly and in any event within 30
days following the formation or acquisition of a Material Domestic Subsidiary, or the occurrence of any event by which any Domestic Subsidiary becomes a Material Domestic Subsidiary, in each case that is not at such time a Subsidiary Guarantor,
cause such Subsidiary to execute and deliver a Guaranty Supplement (as defined in the Subsidiary Guaranty), together with the documents set forth in clause 3.01(h)(iii), (iv) and (v). 

 

 31 

 (j) Pari Passu Status. Ensure, and cause each of its Designated
Subsidiaries to ensure, that the Debt outstanding under this Agreement and the Notes ranks at least pari passu with all other senior unsecured Debt of the Company or such Designated Subsidiary, as the case may be. 

(k) Transactions with Affiliates. Conduct, and cause each of its Subsidiaries to conduct, all transactions
otherwise permitted under this Agreement with any of their Affiliates on terms that are fair and reasonable and no less favorable to the Company or such Subsidiary than it would obtain in a comparable arm’s-length transaction with a Person not
an Affiliate. 
 SECTION 5.02. Negative Covenants. So long as any Advance shall remain unpaid, any Letter of Credit shall
remain outstanding or any Lender shall have any Commitment hereunder, no Borrower will: 
 (a) Liens, Etc.
Create or suffer to exist, or permit any of its Subsidiaries to create or suffer to exist, any Lien on or with respect to any of its properties, whether now owned or hereafter acquired, or assign, or permit any of its Subsidiaries to assign, any
right to receive income, other than: 
 (i) Liens existing on the Effective Date and described on
Schedule 5.02(a) hereto, 
 (ii) purchase money Liens upon or in any real property or equipment acquired or
held by the Company or any Subsidiary in the ordinary course of business (including any Lien in respect of a capitalized lease of personal property) to secure the purchase price of such property or equipment or to secure Debt incurred solely for the
purpose of financing the acquisition or lease of such property or equipment, or Liens existing on such property or equipment at the time of its acquisition (other than any such Liens created in contemplation of such acquisition that were not
incurred to finance the acquisition of such property) or extensions, renewals or replacements of any of the foregoing for the same or a lesser amount, provided, however, that no such Lien shall extend to or cover any properties of any
character other than the real property or equipment being acquired or leased, and no such extension, renewal or replacement shall extend to or cover any properties not theretofore subject to the Lien being extended, renewed or replaced, 

(iii) Liens asserted by warehousemen, mechanics or materialmen which Liens are being contested in good faith by
appropriate proceedings diligently conducted and for which reserves in accordance with GAAP are being maintained on the books of the Company and any mechanic’s, carrier’s, landlord’s or similar common law or statutory lien incurred in
the normal course of business which has not been docketed as a judgment, 
 (iv) Liens or levies for taxes, fees,
assessments or governmental charges not yet due and payable or being contested in good faith by appropriate proceedings diligently conducted and Liens resulting from or incurred with respect to legal proceedings which are being contested in good
faith by appropriate proceedings diligently conducted; provided that reserves in accordance with GAAP are being maintained on the books of the Company with respect to such taxes, fees, assessments, governmental charges and legal proceedings,

 (v) Liens securing only workers’ compensation, unemployment insurance or similar obligations and/or
deposits or pledges made in connection with, or to secure payment of, utilities or similar services, leases, workers’ compensation, unemployment insurance, old age pensions or other social security obligations, 

(vi) Encumbrances as set forth in all deeds, title insurance and mortgages existing as of the Effective Date in respect of
all real property owned or leased by the Company or any of its Subsidiaries and any other zoning or deed restrictions, public utility easements, minor title irregularities and similar matters having no material adverse effect as a practical matter
on the ownership or use of any of the real property in question, 
  

 32 

 (vii) Liens securing or given in lieu of surety, stay, appeal or performance
bonds (other than contracts for the payment of indebtedness for borrowed money), or deposits required by law or governmental regulations or by any court order, decree, judgment or rule or as a condition to the transaction of business or the exercise
of any right, privilege or license, or Liens arising from a judgment not constituting an Event of Default, 

(viii) Interest or title of a lessor under a lease, 

(ix) Liens in favor of the Agent or a Lender, if any, to secure the obligations of the Loan Parties under the Loan
Documents, 
 (x) Liens created or assumed in purchasing, constructing or improving any real property or to which
any real property is subject when purchased; provided, however, that: (x) the mortgage, security interest or other lien is confined to the property in question, and (y) the indebtedness secured thereby is non-recourse as to
any Loan Party and does not exceed the total cost of the purchase, construction or improvement, 
 (xi) Any
transfer of a check or other medium of payment for deposit or collection, or any similar transaction in the normal course of business, 

(xii) Any financing statement perfecting a security interest that would be permissible under this Section 5.02(a),

 (xiii) Liens on property of a Person existing at the time such Person is merged into or consolidated with the
Company or any Subsidiary of the Company or becomes a Subsidiary of the Company; provided that such Liens were not created in contemplation of such merger, consolidation or acquisition and do not extend to any assets other than those of the
Person so merged into or consolidated with the Company or such Subsidiary or acquired by the Company or such Subsidiary, 

(xiv) other Liens securing Debt in an aggregate principal amount not to exceed at any time outstanding 2% of Consolidated
Tangible Net Assets at the time such Lien is incurred, 
 (xv) the replacement, extension or renewal of any Lien
permitted by clause (i), (ii), (viii), (ix) or (xii) above upon or in the same property theretofore subject thereto or the replacement, extension or renewal (without increase in the amount or change in any direct or contingent
obligor) of the Debt secured thereby, and 
 (xvi) Liens on receivables (and related assets) in connection with
Permitted Receivables Financings, so long as such Liens extend solely to the receivables (and related assets) being securitized thereunder. 

(b) Mergers, Acquisitions, Etc. Merge with or into or consolidate with any other Person; liquidate, wind up,
dissolve or divide; acquire all or substantially all of the properties or assets of any ongoing concern or ongoing line of business; acquire all or substantially all of the capital stock or other equity interests in or of any other Person other than
in the ordinary course of business; or agree, become or remain liable (contingently or otherwise) to do any of the foregoing, or permit any of its Subsidiaries to do any of the foregoing, except: 

(i) the Company or any Subsidiary of the Company may acquire all or substantially all of the properties or assets of any
other Person, acquire all or substantially all of the capital stock or other equity interests in or of any other Person, or become or remain liable (contingently or otherwise) to do any of the foregoing, 

 

 33 

 (ii) a directly or indirectly wholly owned Domestic Subsidiary of the
Company (or any Subsidiary of such Subsidiary) may merge with or into or consolidate with or into any other wholly owned Domestic Subsidiary of the Company (or any Subsidiary of such Subsidiary), 

(iii) a directly or indirectly wholly owned Subsidiary of the Company that is not a Subsidiary Guarantor (or any
Subsidiary of such Subsidiary) may merge with or into or consolidate with or into any other wholly owned Subsidiary of the Company (or any Subsidiary of such Subsidiary), and 

(iv) a directly or indirectly wholly owned Subsidiary of the Company (or any Subsidiary of such Subsidiary) may merge with
the Company, provided that the Company shall be the surviving corporation, and 
 provided further, in the
case of each transaction permitted in clauses (i), (ii) and (iii), that no Default shall have occurred and be continuing at the time of such proposed transaction or would result therefrom. 

(c) Sales, Etc. of Assets. Sell, lease, transfer or otherwise dispose of, or permit any of its Subsidiaries to
sell, lease, transfer or otherwise dispose of, any assets, or grant any option or other right to purchase, lease or otherwise acquire any assets, except (i) sales of inventory in the ordinary course of its business, (ii) sales, transfers
or other dispositions of obsolete or worn-out tools, equipment or other property (including leasehold interests) no longer used or useful in business and sales of intellectual property determined to be uneconomical, negligible or obsolete,
(iii) sales, leases, transfers and other dispositions of assets (other than Foreign Assets) by (w) the Company to any Subsidiary Guarantor, (x) any Subsidiary Guarantor to any other Subsidiary Guarantor (y) by any Subsidiary of
the Company to the Company or (z) any Subsidiary of the Company that is not a Subsidiary Guarantor to any other Subsidiary of the Company, (iv) sales, leases, transfers and other dispositions of Foreign Assets by the Company or any of its
Subsidiaries to the Company or any of its Subsidiaries, (v) in addition to the sales permitted in clauses (i), (ii), (iii) and (iv) above, sales of assets for fair value, provided that in the case of the sale of any asset
pursuant to this clause (v) in a single transaction or a series of related transactions in an aggregate amount exceeding $20,000,000, the fair value of such asset shall have been determined in good faith by the Board of Directors of the
Company, provided, further, that in the case of sales of assets pursuant to this clause (v) having consideration of $100,000,000 or more individually or $250,000,000 or more in the aggregate, the Borrowers shall, on the date of
receipt by any Borrower or any of its Subsidiaries of the Net Cash Proceeds from such sale, prepay the Advances pursuant to, and in the amount and order of priority set forth in, Section 2.10(b), as specified therein, and (vi) sales or
transfers of receivables (and related assets) in connection with Permitted Receivables Financings. 
 (d)
Investments in Other Persons. Make or hold, or permit any of its Subsidiaries to make or hold, any Investment in any Person other than: 

(i) Investments by the Company and its Subsidiaries in (A) their Subsidiaries outstanding on the date hereof,
(B) Subsidiaries of the Company as required or is reasonably desirable to comply with thin capitalization rules in jurisdictions outside the United States, (C) wholly owned Subsidiaries (other than pursuant to clauses (B) or (D)) in
an additional aggregate amount invested from the date hereof not to exceed $50,000,000 and (D) Subsidiary Guarantors; 

(ii) Investments by the Company and its Subsidiaries made as capital contributions to any of its direct or indirect
Subsidiaries for the purpose of repaying, prepaying or otherwise retiring Debt of the Target or its direct or indirect Subsidiaries existing at the date of the Acquisition or restructuring Subsidiaries of the Company in connection with the
Acquisition; 
 (iii) Investment by Subsidiaries that are not Subsidiary Guarantors in any other Subsidiaries of
the Company; 
  

 34 

 (iv) loans and advances to employees in the ordinary course of the business
of the Company and its Subsidiaries as presently conducted in an aggregate principal amount not to exceed $5,000,000 at any time outstanding; 

(v) Investments in Marketable Securities; 

(vi) Investments made by the Company or its Subsidiaries in joint ventures as required by the applicable joint venture
agreement in effect as of the date hereof and additional Investments in joint ventures in an aggregate amount not to exceed $20,000,000 at any time outstanding; 

(vii) Investments consisting of intercompany Debt owed to the Company or to a direct or indirect wholly owned Subsidiary
of the Company; 
 (viii) any endorsement of a check or other medium of payment for deposit or collection, or any
similar transaction in the ordinary course of business; 
 (ix) the Company and its Subsidiaries may acquire and
hold receivables and similar items owing to them in the ordinary course of business and payable or dischargeable in accordance with customary trade terms; 

(x) the Guaranteed Obligations and obligations under the Subsidiary Guaranty; 

(xi) the Company and its Subsidiaries may acquire and own Investments (including debt obligations) received in connection
with the bankruptcy or reorganization of customers and suppliers and in settlement of delinquent obligations of, and other disputes with, customers and suppliers arising in the ordinary course of business; 

(xii) Investments by Subsidiaries of the Company organized outside of the United States in the following (or the
equivalent thereof in the applicable foreign jurisdiction): (A) time deposits maturing within one year from the date of purchase thereof, including certificates of deposit issued by any bank or trust company organized outside of the United
States that has total assets aggregating at least $200,000,000 or the equivalent in a foreign currency, (B) fully collateralized repurchase agreements having a term of not more than 30 days and covering securities described in subsection
(A) above entered into with any bank or trust company described in subsection (A) above, or (C) investments in money market funds substantially all of the assets of which are comprised of securities described in (A) and
(B) above; 
 (xiii) loans and advances to customers and vendors in the ordinary course of business of the
Company and its Subsidiaries as presently conducted in an aggregate principal amount not to exceed $15,000,000 at any time outstanding; 

(xiv) Investments made by the Company or its Subsidiaries in Subsidiaries of the Company made as capital contributions of
Foreign Assets; and 
 (xv) other Investments in an aggregate amount invested not to exceed $100,000,000.

 (e) Payment Restrictions Affecting Subsidiaries. Directly or indirectly, enter into or suffer to exist,
or permit any of its Subsidiaries to enter into or suffer to exist, any agreement or arrangement limiting the ability of any of its or their Subsidiaries to declare or pay dividends or other distributions in respect of its equity interests or repay
or prepay any Debt owed to, make loans or advances to, or otherwise transfer assets to or invest in, the Company or any Subsidiary of the Company (whether through a covenant restricting dividends, loans, asset transfers or investments, a financial
covenant or otherwise), except (i) any agreement or instrument evidencing Debt existing on the date hereof and (ii) any agreement in effect at the time such Subsidiary becomes a Subsidiary of the Company, so long as such agreement was not
entered into solely in contemplation of such Person becoming a Subsidiary of the Company. 
  

 35 

 (f) Accounting Changes. Make or permit, or permit any of its
Subsidiaries to make or permit, any change in accounting policies or reporting practices, except as required or permitted by GAAP. 

(g) Change in Nature of Business. Make, or permit any of its Subsidiaries to make, any material change in the
nature of the business of the Company and its Subsidiaries considered as a whole as carried on at the date hereof. 
 SECTION
5.03. Financial Covenants. So long as any Advance shall remain unpaid, any Letter of Credit shall remain outstanding or any Lender shall have any Commitment hereunder, the Company will: 

(a) Debt/EBITDA Ratio. Maintain a ratio of Consolidated Debt to Consolidated EBITDA for the period of twelve months
most recently ended on or prior to the last day of each fiscal quarter set forth below of not greater than the ratio set forth opposite such fiscal quarter end below: 
  

			
	 Fiscal Quarter Ending
	  	Ratio
	 September 30, 2004
	  	4.75 to 1
	 December 31, 2004
	  	4.50 to 1
	 March 31, 2005
	  	4.25 to 1
	 June 30, 2005
	  	4.25 to 1
	 September 30, 2005
	  	4.00 to 1
	 December 31, 2005
	  	3.75 to 1
	 Each fiscal quarter end after December 31, 2005
	  	3.50 to 1

(b) Interest Coverage Ratio. Maintain a ratio of Consolidated EBITDA for the period of four quarters most recently
ended to cash interest payable on, and amortization of debt discount in respect of, all Debt (other than Debt of the Target outstanding at the date of the Acquisition) during such period, by the Company and its Subsidiaries of not less than 3.50 :
1.00. 
 ARTICLE VI 

EVENTS OF DEFAULT 

SECTION 6.01. Events of Default. If any of the following events (“Events of Default”) shall occur and be
continuing: 
 (a) Any Borrower shall fail to pay any principal of any Advance when the same becomes due and
payable; or any Borrower shall fail to pay any interest on any Advance or make any other payment of fees or other amounts payable under this Agreement or any Note within four Business Days after the same becomes due and payable; or 

 

 36 

 (b) Any representation or warranty made by any Borrower herein or by any
Borrower (or any of its corporate officers) in connection with this Agreement shall prove to have been incorrect in any material respect when made; or 

(c) (i) The Borrowers shall fail to perform or observe any term, covenant or agreement contained in
Section 5.01(d), (e) or (h), 5.02 or 5.03, or (ii) the Borrowers shall fail to perform or observe any other term, covenant or agreement contained in this Agreement on its part to be performed or observed if such failure shall remain
unremedied for 15 days after written notice thereof shall have been given to the Company by the Agent or any Lender; or 

(d) The Company or any of its Subsidiaries shall fail to pay any principal of or premium or interest on any Debt that is
outstanding in a principal amount of at least $25,000,000 in the aggregate at any one time (but excluding Debt outstanding hereunder) of the Company or such Subsidiary (as the case may be), when the same becomes due and payable (whether by scheduled
maturity, required prepayment, acceleration, demand or otherwise), and such failure shall continue after the applicable grace period, if any, specified in the agreement or instrument relating to such Debt; or any other event shall occur or condition
shall exist under any agreement or instrument relating to any such Debt and shall continue after the applicable grace period, if any, specified in such agreement or instrument, if the effect of such event or condition is to accelerate, or to permit
the acceleration of, the maturity of such Debt; or any such Debt shall be declared to be due and payable, or required to be prepaid or redeemed (other than by a regularly scheduled required prepayment or redemption), purchased or defeased, or an
offer to prepay, redeem, purchase or defease such Debt shall be required to be made, in each case prior to the stated maturity thereof; or 

(e) The Company or any of its Subsidiaries shall generally not pay its debts as such debts become due, or shall admit in
writing its inability to pay its debts generally, or shall make a general assignment for the benefit of creditors; or any proceeding shall be instituted by or against the Company or any of its Subsidiaries seeking to adjudicate it a bankrupt or
insolvent, or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief, or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors, or seeking the
entry of an order for relief or the appointment of a receiver, trustee, custodian or other similar official for it or for any substantial part of its property and, in the case of any such proceeding instituted against it (but not instituted by it),
either such proceeding shall remain undismissed or unstayed for a period of 60 days, or any of the actions sought in such proceeding (including, without limitation, the entry of an order for relief against, or the appointment of a receiver, trustee,
custodian or other similar official for, it or for any substantial part of its property) shall occur; or the Company or any of its Subsidiaries shall take any corporate action to authorize any of the actions set forth above in this
subsection (e); or 
 (f) Judgments or orders for the payment of money in excess of $25,000,000 in the
aggregate shall be rendered against the Company or any of its Subsidiaries and either (i) enforcement proceedings shall have been commenced by any creditor upon such judgment or order or (ii) there shall be any period of 10 consecutive
days during which a stay of enforcement of such judgment or order, by reason of a pending appeal or otherwise, shall not be in effect; provided, however, that any such judgment or order shall not be an Event of Default under this
Section 6.01(f) if and for so long as (i) the amount of such judgment or order is covered by a valid and binding policy of insurance between the defendant and the insurer covering payment thereof and (ii) such insurer, which shall be
rated at least “A” by A.M. Best Company, has been notified of, and has not disputed the claim made for payment of, the amount of such judgment or order; or 

(g) (i) Any Person or two or more Persons acting in concert shall have acquired beneficial ownership (within the
meaning of Rule 13d-3 of the Securities and Exchange Commission under the Securities Exchange Act of 1934), directly or indirectly, of Voting Stock of the Company (or other securities convertible into such Voting Stock) representing 20% or more
of the combined voting power of all Voting Stock of the Company; or (ii) during any period of up to 24 consecutive months, commencing before or after the date of this Agreement, individuals who at the beginning of such 24-month period were
directors of the Company shall cease for any reason to constitute a majority of the board of directors of the Company; or 
  

 37 

 (h) The Company or any of its ERISA Affiliates shall incur, or, in the
reasonable opinion of the Required Lenders, shall be reasonably likely to incur liability in excess of $25,000,000 in the aggregate as a result of one or more of the following: (i) the occurrence of any ERISA Event; (ii) the partial or
complete withdrawal of the Company or any of its ERISA Affiliates from a Multiemployer Plan; or (iii) the reorganization or termination of a Multiemployer Plan; or 

(i) The Subsidiary Guaranty shall for any reason cease to be valid and binding on or enforceable against each Subsidiary
Guarantor (other than by reason of a release of a Subsidiary Guarantor in accordance with the terms of the Subsidiary Guaranty), or any Subsidiary Guarantor shall so state in writing; 

then, and in any such event, the Agent (i) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrowers,
terminate the Commitments (other than the Commitments to make Advances by an Issuing Bank or a Lender pursuant to Section 2.03(c)), and thereupon the Commitments shall forthwith terminate, and (ii) shall at the request, or may with the
consent, of the Required Lenders, by notice to the Borrowers, declare the Advances, all interest thereon and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the Advances, all such interest and all such
amounts shall become and be forthwith due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived by each Borrower; provided, however, that in the event of an actual or
deemed entry of an order for relief with respect to any Borrower under the Federal Bankruptcy Code, (A) the obligation of each Lender to make Advances shall automatically be terminated (other than the Commitments to make Advances by an Issuing
Bank or a Lender pursuant to Section 2.03(c)) and (B) the Advances, all such interest and all such amounts shall automatically become and be due and payable, without presentment, demand, protest or any notice of any kind, all of which are
hereby expressly waived by each Borrower. 
 SECTION 6.02. Actions in Respect of the Letters of Credit upon Default. If
any Event of Default shall have occurred and be continuing, the Agent may with the consent, or shall at the request, of the Revolving Credit Lenders having at least a majority in interest of the Revolving Credit Commitments, irrespective of whether
it is taking any of the actions described in Section 6.01 or otherwise, make demand upon the Borrowers to, and forthwith upon such demand the Borrowers will, (a) pay to the Agent on behalf of the Revolving Credit Lenders in same day funds
at the Agent’s office designated in such demand, for deposit in the L/C Cash Collateral Account, an amount equal to the aggregate Available Amount of all Letters of Credit then outstanding or (b) make such other arrangements in respect of
the outstanding Letters of Credit as shall be acceptable to the Revolving Credit Lenders having at least a majority in interest of the Revolving Credit Commitments. If at any time the Agent determines that any funds held in the L/C Cash Collateral
Account are subject to any right or claim of any Person other than the Agent and the Revolving Credit Lenders or that the total amount of such funds is less than the aggregate Available Amount of all Letters of Credit, the Borrowers will, forthwith
upon demand by the Agent, pay to the Agent, as additional funds to be deposited and held in the L/C Cash Collateral Account, an amount equal to the excess of (a) such aggregate Available Amount over (b) the total amount of funds, if any,
then held in the L/C Cash Collateral Account that the Agent determines to be free and clear of any such right and claim. Upon the drawing of any Letter of Credit, to the extent funds are on deposit in the L/C Cash Collateral Account, such funds
shall be applied to reimburse the Issuing Banks to the extent permitted by applicable law. After (i) no Event of Default shall be continuing or (ii) all such Letters of Credit shall have expired or been fully drawn upon and all other
obligations of the Borrowers hereunder and under the Notes shall have been paid in full, the balance, if any, in such L/C Cash Collateral Account shall be returned to the Borrowers. 

 

 38 

 ARTICLE VII 

GUARANTY 

SECTION 7.01. Guaranty. The Company hereby absolutely, unconditionally and irrevocably guarantees the punctual payment when due,
whether at scheduled maturity or on any date of a required prepayment or by acceleration, demand or otherwise, of all obligations of each other Borrower now or hereafter existing under or in respect of this Agreement and the Notes of such Borrower
(including, without limitation, any extensions, modifications, substitutions, amendments or renewals of any or all of the foregoing obligations), whether direct or indirect, absolute or contingent, and whether for principal, interest, premiums,
fees, indemnities, contract causes of action, costs, expenses or otherwise (such obligations being the “Guaranteed Obligations”), and agrees to pay any and all expenses (including, without limitation, reasonable fees and expenses of
counsel) incurred by the Agent or any Lender in enforcing any rights under this Guaranty. Without limiting the generality of the foregoing, the Company’s liability shall extend to all amounts that constitute part of the Guaranteed Obligations
and would be owed by any other Borrower to the Agent or any Lender under or in respect of this Agreement and its Notes but for the fact that they are unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar
proceeding involving such other Borrower. Notwithstanding any other provisions of this Agreement, stock of a foreign entity directly held by the Company shall not serve as security for the Guaranteed Obligations, other than stock of any such foreign
entity representing no more than 65% of the total combined voting power of all classes of stock of such entity entitled to vote. 

SECTION 7.02. Guaranty Absolute. The Company guarantees that the Guaranteed Obligations will be paid strictly in accordance with
the terms of this Agreement and the applicable Notes, regardless of any law, regulation or order now or hereafter in effect in any jurisdiction affecting any of such terms or the rights of the Agent or any Lender with respect thereto. The
obligations of the Company under or in respect of this Guaranty are independent of the Guaranteed Obligations or any other obligations of any other Borrower under or in respect of this Agreement and the Notes, and a separate action or actions may be
brought and prosecuted against the Company to enforce this Guaranty, irrespective of whether any action is brought against any other Borrower or whether any other Borrower is joined in any such action or actions. The liability of the Company under
this Guaranty shall be irrevocable, absolute and unconditional irrespective of, and to the extent not prohibited by applicable law, the Company hereby irrevocably waives any defenses it may now have or hereafter acquire in any way relating to, any
or all of the following: 
 (a) any lack of validity or enforceability of this Agreement, any Note or any
agreement or instrument relating thereto; 
 (b) any change in the time, manner or place of payment of, or in any
other term of, all or any of the Guaranteed Obligations or any other obligations of any other Borrower under or in respect of this Agreement, and Notes, or any other amendment or waiver of or any consent to departure from this Agreement or any Note,
including, without limitation, any increase in the Guaranteed Obligations resulting from the extension of additional credit to any Borrower or any of its Subsidiaries or otherwise; 

(c) any taking, exchange, release or amendment or waiver of, or consent to departure from, any other guaranty, for all or
any of the Guaranteed Obligations; 
 (d) any manner of application of collateral, if any, or proceeds thereof,
to all or any of the Guaranteed Obligations, or any manner of sale or other disposition of any collateral for all or any of the Guaranteed Obligations or any other obligations of any Borrower under this Agreement or the Notes or any other assets of
any Borrower or any of its Subsidiaries; 
 (e) any change, restructuring or termination of the corporate
structure or existence of any Borrower or any of its Subsidiaries; 
 (f) any failure of the Agent or any Lender
to disclose to any Borrower any information relating to the business, condition (financial or otherwise), operations, performance, properties or prospects of any other Borrower now or hereafter known to the Agent or such Lender (the Company waiving
any duty on the part of the Agent and the Lenders to disclose such information); 
  

 39 

 (g) the release or reduction of liability of any other guarantor or surety
with respect to the Guaranteed Obligations; or 
 (h) any other circumstance (including, without limitation, any
statute of limitations) or any existence of or reliance on any representation by the Agent or any Lender that might otherwise constitute a defense available to, or a discharge of, any Borrower or any other guarantor or surety. 

This Guaranty shall continue to be effective or be reinstated, as the case may be, if at any time any payment of any of the Guaranteed Obligations is
rescinded or must otherwise be returned by the Agent or any Lender or any other Person upon the insolvency, bankruptcy or reorganization of any other Borrower or otherwise, all as though such payment had not been made. 

SECTION 7.03. Waivers and Acknowledgments. (a) The Company hereby unconditionally and irrevocably waives promptness,
diligence, notice of acceptance, presentment, demand for performance, notice of nonperformance, default, acceleration, protest or dishonor and any other notice with respect to any of the Guaranteed Obligations and this Guaranty and any requirement
that the Agent or any Lender protect, secure, perfect or insure any Lien or any property subject thereto or exhaust any right or take any action against any Borrower or any other Person or any collateral. 

(b) The Company hereby unconditionally and irrevocably waives any right to revoke this Guaranty and acknowledges that this
Guaranty is continuing in nature and applies to all Guaranteed Obligations, whether existing now or in the future. 

(c) The Company hereby unconditionally and irrevocably waives (i) any defense arising by reason of any claim or
defense based upon an election of remedies by the Agent or any Lender that in any manner impairs, reduces, releases or otherwise adversely affects the subrogation, reimbursement, exoneration, contribution or indemnification rights of the Company or
other rights of the Company to proceed against any of the other Borrowers, any other guarantor or any other Person or any collateral and (ii) any defense based on any right of set-off or counterclaim against or in respect of the obligations of
the Company hereunder. 
 (d) The Company hereby unconditionally and irrevocably waives any duty on the part of
the Agent or any Lender to disclose to the Company any matter, fact or thing relating to the business, condition (financial or otherwise), operations, performance, properties or prospects of any other Borrower or any of its Subsidiaries now or
hereafter known by the Agent or such Lender. 
 (e) The Company acknowledges that it will receive substantial
direct and indirect benefits from the financing arrangements contemplated by this Agreement and that the waivers set forth in Section 7.02 and this Section 7.03 are knowingly made in contemplation of such benefits. 

SECTION 7.04. Subrogation. The Company hereby unconditionally and irrevocably agrees, so long as any Event of Default has occurred
and is continuing, not to exercise any rights that it may now have or hereafter acquire against any other Borrower or any other insider guarantor that arise from the existence, payment, performance or enforcement of the Company’s obligations
under or in respect of this Guaranty, including, without limitation, any right of subrogation, reimbursement, exoneration, contribution or indemnification and any right to participate in any claim or remedy of the Agent or any Lender against any
Borrower or any other insider guarantor or any collateral, whether or not such claim, remedy or right arises in equity or under contract, statute or common law, including, without limitation, the right to take or receive from any Borrower or any
other insider guarantor, directly or indirectly, in cash or other property or by set-off or in any other manner, payment or security on account of such claim, remedy or right, unless and until all of the Guaranteed Obligations and all other amounts
payable under this Guaranty shall have been paid in full in cash and the Commitments shall have expired or been terminated. If any amount shall be paid to the Company in violation of the immediately preceding sentence at any time prior to the later
of (a) the payment in full in cash of the Guaranteed Obligations and all other amounts payable under this Guaranty and (b) the Termination Date, such amount shall be received and held in trust for the benefit of the Agent and the Lenders,
shall be segregated from other property and funds of the Company and shall forthwith be paid or delivered to the Agent in the same form as so received (with 

 

 40 

 
any necessary endorsement or assignment) to be credited and applied to the Guaranteed Obligations and all other amounts payable under this Guaranty, whether matured or unmatured, in accordance
with the terms of this Agreement, or to be held as collateral for any Guaranteed Obligations or other amounts payable under this Guaranty thereafter arising. If (i) the Company shall make payment to the Agent or any Lender of all or any part of
the Guaranteed Obligations, (ii) all of the Guaranteed Obligations and all other amounts payable under this Guaranty shall have been paid in full in cash and (iii) the Termination Date shall have occurred, the Agent and the Lenders will,
at the Company’s request and expense, execute and deliver to the Company appropriate documents, without recourse and without representation or warranty, necessary to evidence the transfer by subrogation to the Company of an interest in the
Guaranteed Obligations resulting from such payment made by the Company pursuant to this Guaranty. 
 SECTION 7.05.
Subordination. The Company hereby subordinates any and all debts, liabilities and other obligations owed to the Company by each other Borrower (the “Subordinated Obligations”) to the Guaranteed Obligations to the extent and
in the manner hereinafter set forth in this Section 7.05: 
 (a) Prohibited Payments, Etc. Except
during the continuance of an Event of Default (including the commencement and continuation of any proceeding under any bankruptcy law relating to any other Borrower), the Company may receive regularly scheduled payments from any other Borrower on
account of the Subordinated Obligations. After the occurrence and during the continuance of any Event of Default (including the commencement and continuation of any proceeding under any bankruptcy law relating to any other Borrower), however, unless
the Required Lenders otherwise agree, the Company shall not demand, accept or take any action to collect any payment on account of the Subordinated Obligations. 

(b) Prior Payment of Guaranteed Obligations. In any proceeding under any bankruptcy law relating to any other
Borrower, the Company agrees that the Agent and the Lenders shall be entitled to receive payment in full in cash of all Guaranteed Obligations (including all interest and expenses accruing after the commencement of a proceeding under any bankruptcy
law, whether or not constituting an allowed claim in such proceeding (“Post Petition Interest”)) before the Company receives payment of any Subordinated Obligations. 

(c) Turn-Over. After the occurrence and during the continuance of any Event of Default (including the commencement
and continuation of any proceeding under any bankruptcy law relating to any other Borrower), the Company shall, if the Agent so requests, collect, enforce and receive payments on account of the Subordinated Obligations as trustee for the Agent and
the Lenders and deliver such payments to the Agent on account of the Guaranteed Obligations (including all Post Petition Interest), together with any necessary endorsements or other instruments of transfer, but without reducing or affecting in any
manner the liability of the Company under the other provisions of this Guaranty. 
 (d) Agent
Authorization. After the occurrence and during the continuance of any Event of Default (including the commencement and continuation of any proceeding under any bankruptcy law relating to any other Borrower), the Agent is authorized and empowered
(but without any obligation to so do), in its discretion, (i) in the name of the Company, to collect and enforce, and to submit claims in respect of, Subordinated Obligations and to apply any amounts received thereon to the Guaranteed
Obligations (including any and all Post Petition Interest), and (ii) to require the Company (A) to collect and enforce, and to submit claims in respect of, Subordinated Obligations and (B) to pay any amounts received on such
obligations to the Agent for application to the Guaranteed Obligations (including any and all Post Petition Interest). 

SECTION 7.06. Continuing Guaranty; Assignments. This Guaranty is a continuing guaranty and shall (a) remain in full force and
effect until the later of (i) the payment in full in cash of the Guaranteed Obligations and all other amounts payable under this Guaranty and (ii) the Termination Date, (b) be binding upon the Company, its successors and assigns and
(c) inure to the benefit of and be enforceable by the Agent and the Lenders and their successors, transferees and assigns. Without limiting the generality of clause (c) of the immediately preceding sentence, the Agent or any Lender may
assign or otherwise transfer all or any portion of its rights and obligations under this Agreement (including, without 

 

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limitation, all or any portion of its Commitments, the Advances owing to it and the Note or Notes held by it) to any other Person, and such other Person shall thereupon become vested with all the
benefits in respect thereof granted to the Agent or such Lender herein or otherwise, in each case as and to the extent provided in Section 9.07. The Company shall not have the right to assign its rights under this Article VII or any interest in
this Article VII without the prior written consent of the Agent and the Lenders. 
 ARTICLE VIII 

THE AGENT 

SECTION 8.01. Authorization and Action. Each Lender (in its capacity as a Lender and an Issuing Bank, as applicable) hereby
appoints and authorizes the Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Agent by the terms hereof, together with such powers and discretion as are
reasonably incidental thereto. As to any matters not expressly provided for by this Agreement (including, without limitation, enforcement or collection of the Notes), the Agent shall not be required to exercise any discretion or take any action, but
shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all Lenders and all holders of Notes;
provided, however, that the Agent shall not be required to take any action that exposes the Agent to personal liability or that is contrary to this Agreement or applicable law. The Agent agrees to give to each Lender prompt notice of
each notice given to it by any Borrower pursuant to the terms of this Agreement. 
 SECTION 8.02. Agent’s Reliance,
Etc. Neither the Agent nor any of its directors, officers, agents or employees shall be liable for any action taken or omitted to be taken by it or them under or in connection with this Agreement, except for its or their own gross negligence or
willful misconduct. Without limitation of the generality of the foregoing, the Agent: (i) may treat the Lender that made any Advance as the holder of the Debt resulting therefrom until the Agent receives and accepts an Assignment and Acceptance
entered into by such Lender, as assignor, and an Eligible Assignee, as assignee, as provided in Section 9.07; (ii) may consult with legal counsel (including counsel for the Borrowers), independent public accountants and other experts
selected by it and shall not be liable for any action taken or omitted to be taken in good faith by it in accordance with the advice of such counsel, accountants or experts; (iii) makes no warranty or representation to any Lender and shall not
be responsible to any Lender for any statements, warranties or representations (whether written or oral) made in or in connection with this Agreement; (iv) shall not have any duty to ascertain or to inquire as to the performance, observance or
satisfaction of any of the terms, covenants or conditions of this Agreement on the part of any Borrower or the existence at any time of any Default or to inspect the property (including the books and records) of any Borrower; (v) shall not be
responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, sufficiency or value of this Agreement or any other instrument or document furnished pursuant hereto; and (vi) shall incur no liability under or
in respect of this Agreement by acting upon any notice, consent, certificate or other instrument or writing (which may be by telecopier or telegram) believed by it to be genuine and signed or sent by the proper party or parties. 

SECTION 8.03. CNAI and Affiliates. With respect to its Commitments, the Advances made by it and the Notes issued to it, CNAI shall
have the same rights and powers under this Agreement as any other Lender and may exercise the same as though it were not the Agent; and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated, include CNAI in
its individual capacity. CNAI and its Affiliates may accept deposits from, lend money to, act as trustee under indentures of, accept investment banking engagements from and generally engage in any kind of business with, the Company, any of its
Subsidiaries and any Person who may do business with or own securities of the Company or any such Subsidiary, all as if CNAI were not the Agent and without any duty to account therefor to the Lenders. The Agent shall have no duty to disclose
information obtained or received by it or any of its affiliates relating to the Company or its Subsidiaries to the extent such information was obtained or received in any capacity other than as Agent. 

SECTION 8.04. Lender Credit Decision. Each Lender acknowledges that it has, independently and without reliance upon the Agent or
any other Lender and based on the financial statements referred to in Section 4.01 and such other documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender also

  

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acknowledges that it will, independently and without reliance upon the 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 decisions in taking or not taking action under this Agreement. 
 SECTION 8.05. Indemnification.
(a) The Lenders agree to indemnify the Agent (to the extent not reimbursed by the Borrowers), ratably according to the respective principal amounts of the Advances then owed to each of them (or if no Advances are at the time outstanding,
ratably according to the respective amounts of their Commitments), from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever that
may be imposed on, incurred by, or asserted against the Agent in any way relating to or arising out of this Agreement or any action taken or omitted by the Agent under this Agreement (collectively, the “Indemnified Costs”),
provided that no Lender shall be liable for any portion of the Indemnified Costs resulting from the Agent’s gross negligence or willful misconduct. Without limitation of the foregoing, each Lender agrees to reimburse the Agent promptly
upon demand for its ratable share of any out-of-pocket expenses (including reasonable counsel fees) incurred by the 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, to the extent that the Agent is not reimbursed for such expenses by the Borrowers. In the case of any
investigation, litigation or proceeding giving rise to any Indemnified Costs, this Section 8.05 applies whether any such investigation, litigation or proceeding is brought by the Agent, any Lender or a third party. For purposes of this
Section 8.05(a), the Lenders’ respective pro rata shares of any amount shall be determined, at any time, according to the sum of (i) the aggregate principal amount of the Advances outstanding at such time and owing to the respective
Lenders, (ii) their respective Ratable Shares of the aggregate Available Amount of all Letters of Credit outstanding at such time, (iii) the aggregate unused portions of their respective Term Commitments at such time and (iv) their
respective Unused Revolving Credit Commitments at such time. 
 (b) Each Revolving Credit Lender severally agrees to indemnify
the Issuing Banks (to the extent not promptly reimbursed by the Borrowers) from and against such Lender’s Ratable Share of any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or
disbursements of any kind or nature whatsoever that may be imposed on, incurred by, or asserted against any such Issuing Bank in any way relating to or arising out of this Agreement or any action taken or omitted by such Issuing Bank hereunder or in
connection herewith; provided, however, that no Revolving Credit Lender shall be liable for any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements
resulting from such Issuing Bank’s gross negligence or willful misconduct. Without limitation of the foregoing, each Revolving Credit Lender agrees to reimburse any such Issuing Bank promptly upon demand for its Ratable Share of any costs and
expenses (including, without limitation, fees and expenses of counsel) payable by the Borrowers under Section 9.04, to the extent that such Issuing Bank is not promptly reimbursed for such costs and expenses by the Borrowers. 

(c) The failure of any Lender to reimburse the Agent or the Issuing Bank promptly upon demand for its ratable share of any amount
required to be paid by the Lenders to the Agent or the Issuing Bank as provided herein shall not relieve any other Lender of its obligation hereunder to reimburse the Agent or the Issuing Bank for its ratable share of such amount, but no Lender
shall be responsible for the failure of any other Lender to reimburse the Agent or an Issuing Bank for such other Lender’s ratable share of such amount. Without prejudice to the survival of any other agreement of any Lender hereunder, the
agreement and obligations of each Lender contained in this Section 8.05 shall survive the payment in full of principal, interest and all other amounts payable hereunder and under the Notes. 

SECTION 8.06. Successor Agent. The Agent may resign at any time by giving written notice thereof to the Lenders and the Company
and may be removed at any time with or without cause by the Required Lenders. Upon any such resignation or removal, the Required Lenders shall have the right to appoint a successor Agent with the consent of the Company, which consent shall not be
unreasonably withheld and shall not be required if any Event of Default has occurred and is continuing. If no successor Agent shall have been so appointed by the Required Lenders, and shall have accepted such appointment, within 30 days after the
retiring Agent’s giving of notice of resignation or the Required Lenders’ removal of the retiring Agent, then the retiring Agent may, on behalf of the Lenders, appoint a successor Agent, which shall be a

  

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commercial bank organized under the laws of the United States of America or of any State thereof and having a combined capital and surplus of at least $500,000,000. Upon the acceptance of any
appointment as Agent hereunder by a successor Agent, such successor Agent shall thereupon succeed to and become vested with all the rights, powers, discretion, privileges and duties of the retiring Agent, and the retiring Agent shall be discharged
from its duties and obligations under this Agreement. After any retiring Agent’s resignation or removal hereunder as Agent, the provisions of this Article VIII shall inure to its benefit as to any actions taken or omitted to be taken by it
while it was Agent under this Agreement. 
 SECTION 8.07. Other Agents. Each Lender hereby acknowledges that neither the
documentation agent nor any other Lender designated as any “Agent” on the signature pages hereof (other than the Agent) has any liability hereunder other than in its capacity as a Lender. 

ARTICLE IX 

MISCELLANEOUS 

SECTION 9.01. Amendments, Etc. No amendment or waiver of any provision of this Agreement or the Notes, nor consent to any
departure by any Borrower therefrom, shall in any event be effective unless the same shall be in writing and signed by the Required Lenders, and then such waiver or consent shall be effective only in the specific instance and for the specific
purpose for which given; provided, however, that no amendment, waiver or consent shall, unless in writing and signed by each affected Lender, do any of the following: (a) waive any of the conditions specified in Section 3.01,
(b) increase the Commitments of the Lenders, (c) reduce the principal of, or interest on, the Advances or any fees or other amounts payable hereunder, (d) postpone any date fixed for any payment of principal of, or interest on, the
Advances or any fees or other amounts payable hereunder, (e) change the percentage of the Revolving Credit Commitments or of the aggregate unpaid principal amount of the Advances, or the number of Lenders, that shall be required for the Lenders
or any of them to take any action hereunder, (f) reduce, subordinate or limit the obligations of the Company under Section 7.01, (g) release all or substantially all of the Subsidiary Guarantors from the obligations under the
Subsidiary Guaranty (other than to the extent permitted under the Subsidiary Guaranty), (h) amend this Section 9.01 or (i) amend or waive any provision of this Agreement in any manner that would adversely affect such Lender’s
right to receive its ratable share of any payment made or proceeds distributed to which it is entitled under the Loan Documents; and provided further that (x) no amendment, waiver or consent shall, unless in writing and signed by
the Agent in addition to the Lenders required above to take such action, affect the rights or duties of the Agent under this Agreement or any Note and (y) no amendment, waiver or consent shall, unless in writing and signed by the Issuing Banks
in addition to the Lenders required above to take such action, adversely affect the rights or obligations of the Issuing Banks in their capacities as such under this Agreement. 

SECTION 9.02. Notices, Etc. (a) All notices and other communications provided for hereunder shall be either (a) in
writing (including telecopier or telegraphic communication) and mailed, telecopied, telegraphed or delivered or (y) as and to the extent set forth in Section 9.02(c) and in the proviso to this Section 9.02(a), if to any Borrower, at
the address of the Company at 29400 Lakeland Blvd., Wickliffe, Ohio 44092-2298, Attention: Treasurer (with a copy to the Company’s legal division at the same address); if to any Initial Lender, at its Domestic Lending Office specified opposite
its name on Schedule I hereto; if to any other Lender, at its Domestic Lending Office specified in the Assignment and Acceptance pursuant to which it became a Lender; and if to the Agent, at its address at Two Penns Way, New Castle, Delaware
19720, Attention: Bank Loan Syndications Department; or, as to any Borrower or the Agent, at such other address as shall be designated by such party in a written notice to the other parties and, as to each other party, at such other address as shall
be designated by such party in a written notice to the Borrowers and the Agent, provided that materials required to be delivered pursuant to Section 5.01(h)(i), (ii) or (iv) shall be delivered to the Agent as specified in
Section 9.02(c). All such notices and communications shall, when mailed, telecopied, telegraphed or e-mailed, be effective when deposited in the mails, telecopied, delivered to the telegraph company or confirmed by e-mail, respectively, except
that notices and communications to the Agent pursuant to Article II, III or VIII shall not be effective until received by the Agent. Delivery by telecopier of an executed counterpart of any amendment or waiver of any provision of this Agreement
or the Notes or of any Exhibit hereto to be executed and delivered hereunder shall be effective as delivery of a manually executed counterpart thereof. 
  

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 (b) Notwithstanding anything to the contrary contained in this Agreement or any Note,
(i) any notice to the Borrowers or to any one of them required under this Agreement or any such Note that is delivered to the Company shall constitute effective notice to the Borrowers or to any such Borrower, including the Company and
(ii) any Notice of Borrowing or any notice of Conversion delivered pursuant to Section 2.09 may be delivered by any Borrower or by the Company, on behalf of any other Borrower. Each Designated Subsidiary hereby irrevocably appoints the
Company as its authorized agent to receive and deliver notices in accordance with this Section 9.02, and hereby irrevocably agrees that (A) in the case of clause (i) of the immediately preceding sentence, the failure of the Company to
give any notice referred to therein to any such Designated Subsidiary to which such notice applies shall not impair or affect the validity of such notice with respect thereto and (B) in the case of clause (ii) of the immediately preceding
sentence, the delivery of any such notice by the Company, on behalf of any other Borrower, shall be binding on such other Borrower to the same extent as if such notice had been executed and delivered directly by such Borrower. 

(c) So long as Citibank or any of its Affiliates is the Agent, materials required to be delivered pursuant to Section 5.01(h)(i),
(ii) and (iv) shall be delivered to the Agent in an electronic medium in a format reasonably acceptable to the Agent and the Lenders by e-mail at oploanswebadmin@citigroup.com. The Company agrees that the Agent may make such materials, as
well as any other written information, documents, instruments and other material relating to the Company, any of its Subsidiaries or any other materials or matters relating to this Agreement, the Notes or any of the transactions contemplated hereby
(collectively, the “Communications”) available to the Lenders by posting such notices on Intralinks or a substantially similar electronic system (the “Platform”). The Company acknowledges that (i) the
distribution of material through an electronic medium is not necessarily secure and that there are confidentiality and other risks associated with such distribution, (ii) the Platform is provided “as is” and “as available”
and (iii) neither the Agent nor any of its Affiliates warrants the accuracy, adequacy or completeness of the Communications or the Platform and each expressly disclaims liability for errors or omissions in the Communications or the Platform. No
warranty of any kind, express, implied or statutory, including, without limitation, any warranty of merchantability, fitness for a particular purpose, non-infringement of third party rights or freedom from viruses or other code defects, is made by
the Agent or any of its Affiliates in connection with the Platform. 
 (d) Each Lender agrees that notice to it (as provided in
the next sentence) (a “Notice”) specifying that any Communications have been posted to the Platform shall constitute effective delivery of such information, documents or other materials to such Lender for purposes of this Agreement;
provided that if requested by any Lender the Agent shall deliver a copy of the Communications to such Lender by email or telecopier. Each Lender agrees (i) to notify the Agent in writing of such Lender’s e-mail address to which a
Notice may be sent by electronic transmission (including by electronic communication) on or before the date such Lender becomes a party to this Agreement (and from time to time thereafter to ensure that the Agent has on record an effective e-mail
address for such Lender) and (ii) that any Notice may be sent to such e-mail address. 
 SECTION 9.03. No Waiver;
Remedies. No failure on the part of any Lender or the Agent to exercise, and no delay in exercising, any right hereunder or under any Note shall operate as a waiver thereof; nor shall any single or partial exercise of any such right preclude any
other or further exercise thereof or the exercise of any other right. The remedies herein provided are cumulative and not exclusive of any remedies provided by law. 

SECTION 9.04. Costs and Expenses. (a) The Borrowers agree to pay on demand all reasonable, out-of-pocket costs and expenses
of only the Agent in connection with the preparation, execution, delivery, administration, modification and amendment of this Agreement, the Notes and the other documents to be delivered hereunder, including, without limitation, (A) all due
diligence, syndication (including printing, distribution and bank meetings), transportation, computer, duplication, appraisal, consultant, and audit expenses and (B) the reasonable fees and expenses of counsel for the Agent with respect thereto
and with respect to advising the Agent as to its rights and responsibilities under this Agreement. The Borrowers further agree to pay on demand all costs and expenses of the Agent and the Lenders, if any (including, without limitation, reasonable
counsel fees and expenses), in connection with the enforcement (whether through negotiations, legal proceedings or otherwise) of this Agreement, the Notes and the other documents to be delivered hereunder, including, without limitation, reasonable
fees and expenses of counsel for the Agent and each Lender in connection with the enforcement of rights under this Section 9.04(a). 
  

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 (b) The Borrowers agree to indemnify and hold harmless the Agent and each Lender and each of
their Affiliates and their officers, directors, employees, agents and advisors (each, an “Indemnified Party”) from and against any and all claims, damages, losses, liabilities and expenses (including, without limitation, reasonable
fees and expenses of counsel) incurred by or awarded against any Indemnified Party, in each case arising out of or in connection with or by reason of (including, without limitation, in connection with any investigation, litigation or proceeding or
preparation of a defense in connection therewith) (i) the Notes, this Agreement, any of the transactions contemplated herein or the actual or proposed use of the proceeds of the Advances or (ii) the actual or alleged presence of Hazardous
Materials on any property of the Company or any of its Subsidiaries or any Environmental Action relating in any way to the Company or any of its Subsidiaries, except to the extent such claim, damage, loss, liability or expense is found in a final,
non-appealable judgment by a court of competent jurisdiction to have resulted from such Indemnified Party’s gross negligence or willful misconduct. In the case of an investigation, litigation or other proceeding to which the indemnity in this
Section 9.04(b) applies, such indemnity shall be effective whether or not such investigation, litigation or proceeding is brought by any Borrower, its directors, equityholders or creditors or an Indemnified Party or any other Person, whether or
not any Indemnified Party is otherwise a party thereto and whether or not the transactions contemplated hereby are consummated. The Borrowers also agree not to assert any claim for special, indirect, consequential or punitive damages against the
Agent, any Lender, any of their Affiliates, or any of their respective directors, officers, employees, attorneys and agents, on any theory of liability, arising out of or otherwise relating to the Notes, this Agreement, any of the transactions
contemplated herein or the actual or proposed use of the proceeds of the Advances. 
 (c) If any payment of principal of, or
Conversion of, any Eurodollar Rate Advance is made by any Borrower to or for the account of a Lender (i) other than on the last day of the Interest Period for such Advance, as a result of a payment or Conversion pursuant to Section 2.08,
2.10 or 2.12, acceleration of the maturity of the Notes pursuant to Section 6.01 or for any other reason, or by an Eligible Assignee to a Lender other than on the last day of the Interest Period for such Advance upon an assignment of rights and
obligations under this Agreement pursuant to Section 9.07 as a result of a demand by the Company pursuant to Section 9.07(a) or (ii) as a result of a payment or Conversion pursuant to Section 2.08, 2.10 or 2.12, the applicable
Borrower shall, upon demand by such Lender (with a copy of such demand to the Agent), pay to the Agent for the account of such Lender any amounts required to compensate such Lender for any additional losses, costs or expenses that it may reasonably
incur as a result of such payment or Conversion, including, without limitation, any loss, cost or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by any Lender to fund or maintain such Advance.

 (d) Without prejudice to the survival of any other agreement of any Borrower hereunder, the agreements and obligations of the
Borrowers contained in Sections 2.11, 2.14 and 9.04 shall survive the payment in full of principal, interest and all other amounts payable hereunder and under the Notes. 

SECTION 9.05. Right of Set-off. Upon (i) the occurrence and during the continuance of any Event of Default and (ii) the
making of the request or the granting of the consent specified by Section 6.01 to authorize the Agent to declare the Advances due and payable pursuant to the provisions of Section 6.01, each Lender and each of its Affiliates is hereby
authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other indebtedness at any time owing by
such Lender or such Affiliate to or for the credit or the account of any Borrower against any and all of the obligations of the Borrowers now or hereafter existing under this Agreement and the Note held by such Lender, whether or not such Lender
shall have made any demand under this Agreement or such Note and although such obligations may be unmatured. Each Lender agrees promptly to notify the applicable Borrower after any such set-off and application, provided that the failure to
give such notice shall not affect the validity of such set-off and application. The rights of each Lender and its Affiliates under this Section are in addition to other rights and remedies (including, without limitation, other rights of set-off)
that such Lender and its Affiliates may have. 
 SECTION 9.06. Binding Effect. This Agreement shall become effective
(other than Section 2.01, which shall only become effective upon satisfaction of the conditions precedent set forth in Section 3.01) when it shall have been executed by the Company and the Agent and when the Agent shall have been notified
by each Initial Lender that such Initial Lender has executed it and thereafter shall be binding upon and inure to the benefit of the Company, the Agent and each Lender and their respective successors and assigns, except that no Borrower shall have
the right to assign its rights hereunder or any interest herein without the prior written consent of the Lenders. 
  

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 SECTION 9.07. Assignments and Participations. (a) Each Lender may and, if
demanded by the Company (following a demand by such Lender pursuant to Section 2.11 or 2.14) upon at least five Business Days’ notice to such Lender and the Agent, will assign to one or more Persons all or a portion of its rights and
obligations under this Agreement (including, without limitation, all or a portion of its Revolving Credit Commitment, its Term Commitment, its undrawn Letter of Credit Commitment, the Advances owing to it, its participations in Letters of Credit and
the Note or Notes held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of all rights and obligations under and in respect of one or more of the Facilities,
(ii) except in the case of an assignment to a Person that, immediately prior to such assignment, was a Lender or an assignment of all of a Lender’s rights and obligations under this Agreement, the amount of (x) the Revolving Credit
Commitment or Term Commitment of the assigning Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall in no event be less than $5,000,000 or an
integral multiple of $1,000,000 in excess thereof and (y) the undrawn Letter of Credit Commitment of the assigning Lender being assigned pursuant to each such assignment (determined as of the date of the applicable Assignment and Acceptance)
shall in no event be less than $1,000,000, unless, in each case, the Company and the Agent agree, (iii) each such assignment shall be to an Eligible Assignee, (iv) each such assignment made as a result of a demand by the Company pursuant
to this Section 9.07(a) shall be arranged by the Company after consultation with the Agent and shall be either an assignment of all of the rights and obligations of the assigning Lender under this Agreement or an assignment of a portion of such
rights and obligations made concurrently with another such assignment or other such assignments that together cover all of the rights and obligations of the assigning Lender under this Agreement, (v) no Lender shall be obligated to make any
such assignment as a result of a demand by the Company pursuant to this Section 9.07(a) unless and until such Lender shall have received one or more payments from either the Borrowers or one or more Eligible Assignees in an aggregate amount at
least equal to the aggregate outstanding principal amount of the Advances owing to such Lender, together with accrued interest thereon to the date of payment of such principal amount and all other amounts payable to such Lender under this Agreement,
and (vi) the parties to each such assignment shall execute and deliver to the Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with any Note subject to such assignment and a processing and
recordation fee of $3,500 payable by the parties to each such assignment, provided, however, that in the case of each assignment made as a result of a demand by the Company, such recordation fee shall be payable by the Company except
that no such recordation fee shall be payable in the case of an assignment made at the request of the Company to an Eligible Assignee that is an existing Lender, and (vii) any Lender may, without the approval of the Company and the Agent,
assign all or a portion of its rights to any of its Affiliates. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, (x) the assignee thereunder shall be a party
hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (y) the Lender assignor thereunder shall, to the
extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights (other than its rights under Section 2.11, 2.14 and 9.04 to the extent any claim thereunder relates to an
event arising prior such assignment) and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of an assigning Lender’s rights and obligations under this
Agreement, such Lender shall cease to be a party hereto). 
 (b) By executing and delivering an Assignment and Acceptance, the
Lender assignor thereunder and the assignee thereunder confirm to and agree with each other and the other parties hereto as follows: (i) other than as provided in such Assignment and Acceptance, such assigning Lender makes no representation or
warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with this Agreement or the execution, legality, validity, enforceability, genuineness, sufficiency or value of this
Agreement or any other instrument or document furnished pursuant hereto; (ii) such assigning Lender makes no representation or warranty and assumes no responsibility with respect to the financial condition of any Borrower or the performance or
observance by any Borrower of any of its obligations under this Agreement or any other instrument or document furnished pursuant hereto; (iii) such assignee confirms that it has received a copy of this Agreement, together with copies of the
financial statements referred to in Section 4.01 and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into such 

 

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Assignment and Acceptance; (iv) such assignee will, independently and without reliance upon the Agent, such assigning Lender or any other Lender and based on such documents and information
as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under this Agreement; (v) such assignee confirms that it is an Eligible Assignee; (vi) such assignee appoints and authorizes
the Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto;
and (vii) such assignee agrees that it will perform in accordance with their terms all of the obligations that by the terms of this Agreement are required to be performed by it as a Lender. 

(c) Upon its receipt of an Assignment and Acceptance executed by an assigning Lender and an assignee representing that it is an Eligible
Assignee, together with any Note or Notes subject to such assignment, the Agent shall, if such Assignment and Acceptance has been completed and is in substantially the form of Exhibit C hereto, (i) accept such Assignment and Acceptance,
(ii) record the information contained therein in the Register and (iii) give prompt notice thereof to the Company. 

(d) The Agent shall maintain at its address referred to in Section 9.02 a copy of each Assignment and Acceptance delivered to and
accepted by it and a register for the recordation of the names and addresses of the Lenders and the Commitment of, and principal amount of the Advances owing to, each Lender from time to time (the “Register”). The entries in the
Register shall be conclusive and binding for all purposes, absent manifest error, and the Borrowers, the Agent and the Lenders may treat each Person whose name is recorded in the Register as a Lender hereunder for all purposes of this Agreement. The
Register shall be available for inspection by the Company or any Lender at any reasonable time and from time to time upon reasonable prior notice. 

(e) Each Lender may sell participations to one or more banks or other entities (other than the Company or any of its Affiliates) in or to
all or a portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances owing to it and any Note or Notes held by it); provided, however, that (i) such
Lender’s obligations under this Agreement (including, without limitation, its Commitments to the Borrowers hereunder) shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance
of such obligations, (iii) such Lender shall remain the holder of any such Note for all purposes of this Agreement, (iv) the Borrowers, the Agent and the other Lenders shall continue to deal solely and directly with such Lender in
connection with such Lender’s rights and obligations under this Agreement and (v) no participant under any such participation shall have any right to approve any amendment or waiver of any provision of this Agreement or any Note, or any
consent to any departure by any Borrower therefrom, except to the extent that such amendment, waiver or consent would reduce the principal of, or interest on, the Notes or any fees or other amounts payable hereunder, in each case to the extent
subject to such participation, or postpone any date fixed for any payment of principal of, or interest on, the Notes or any fees or other amounts payable hereunder, in each case to the extent subject to such participation. 

(f) Any Lender may, in connection with any assignment or participation or proposed assignment or participation pursuant to this
Section 9.07, disclose to the assignee or participant or proposed assignee or participant, any information relating to the Company furnished to such Lender by or on behalf of the Company; provided that, prior to any such disclosure, the
assignee or participant or proposed assignee or participant shall agree to preserve the confidentiality of any Confidential Information relating to the Company received by it from such Lender. 

(g) Notwithstanding any other provision set forth in this Agreement, any Lender may at any time create a security interest in all or any
portion of its rights under this Agreement (including, without limitation, the Advances owing to it and any Note or Notes held by it) in favor of any Federal Reserve Bank in accordance with Regulation A of the Board of Governors of the Federal
Reserve System. 
 (h) Designation. (i) Notwithstanding anything to the contrary contained herein, any Lender (a
“Designating Lender”) may grant to one or more special purpose funding vehicles (each, an “SPV”), identified as such in writing from time to time by the Designating Lender to the Agent and the Company, the option to
provide to the Borrowers all or any part of any Advance that such Designating Lender would otherwise be obligated to make to the Borrowers pursuant to this Agreement; provided that (A) nothing herein shall constitute a commitment by any
SPV to make any Advance, (B) if an SPV fails to provide all or any part of such Advance, the Designating Lender 

 

 48 

 
shall be obligated to make such Advance pursuant to the terms hereof and (C) the Designating Lender shall, at all times, remain liable for any indemnity or other payment obligation with
respect to its Commitment hereunder. The making of a Advance by an SPV hereunder shall utilize the applicable Commitment of the Designating Lender to the same extent, and as if such Advance were made by such Designating Lender. 

(ii) As to any Advances or portion thereof made by it, each SPV shall have all the rights that the Designating Lender
making such Advances or portion thereof would have had under this Agreement; provided, however, that each SPV shall have granted to its Designating Lender an irrevocable power of attorney, to deliver and receive all communications and
notices under this Agreement and to exercise on such SPV’s behalf, all of such SPV’s voting rights under this Agreement. No additional Notes shall be required to evidence the Advances or portion thereof made by an SPV; and the related
Designating Lender shall be deemed to hold its Note, if any, as agent for such SPV to the extent of the Advances or portion thereof funded by such SPV. In addition, any payments for the account of any SPV shall be paid to its Designating Lender as
agent for such SPV. 
 (iii) Each party hereto hereby agrees that no SPV shall be liable for any indemnity or
payment under this Agreement for which a Lender would otherwise be liable. In furtherance of the foregoing, each party hereto hereby agrees (which agreements shall survive the termination of this Agreement) that, prior to the date that is one year
and one day after the payment in full of all outstanding commercial paper or other senior indebtedness of any SPV, it will not institute against, or join any other person in instituting against, such SPV any bankruptcy, reorganization, arrangement,
insolvency or liquidation proceedings under the laws of the United States or any State thereof. 
 (iv) In
addition, notwithstanding anything to the contrary contained in this Section 9.07(h) or otherwise in this Agreement, any SPV may (A) at any time and without paying any processing fee therefor, assign or sell a participation in all or a
portion of its interest in any Advances to the Designating Lender or to any financial institutions providing liquidity and/or credit support to or for the account of such SPV to support the funding or maintenance of Advances and (B) disclose on
a confidential basis any non-public information relating to its Advances to any rating agency, commercial paper dealer or provider of any surety, guarantee or credit or liquidity enhancements to such SPV. This Section 9.07(h) may not be amended
without the written consent of any Designating Lender affected thereby. 
 SECTION 9.08. Confidentiality. Neither the
Agent nor any Lender shall disclose any Confidential Information to any other Person without the written consent of the Company, other than (a) to the Agent’s or such Lender’s Affiliates and their officers, directors, employees,
agents and advisors and, as contemplated by Section 9.07(f), to actual or prospective Eligible Assignees and participants, and then only on a confidential basis, (b) as required by any law, rule or regulation or judicial process and
(c) as requested or required by any state, federal or foreign authority or examiner regulating banks or banking. 
 SECTION
9.09. Governing Law. This Agreement and the Notes shall be governed by, and construed in accordance with, the laws of the State of New York. 

SECTION 9.10. Execution in Counterparts. This Agreement may be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page to this Agreement
by telecopier shall be effective as delivery of a manually executed counterpart of this Agreement. 
 SECTION 9.11.
Jurisdiction, Etc. (a) Each of the parties hereto hereby irrevocably and unconditionally submits, for itself and its property, to the nonexclusive jurisdiction of any New York State court or federal court of the United States of
America sitting in New York City, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement or the Notes, or for recognition or enforcement of any judgment, and each of the parties hereto
hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in any such New York State court or, to the extent permitted by law, in such federal court. Each Designated
Subsidiary hereby agrees that service of process in any such action or proceeding brought in the any such New York State court 

 

 49 

 
or in such federal court may be made upon the Company at its address set forth in Section 9.02 and each such Borrower hereby irrevocably appoints the Company its authorized agent to accept
such service of process, and agrees that the failure of the Company to give any notice of any such service shall not impair or affect the validity of such service or of any judgment rendered in any action or proceeding based thereon. The Company
hereby further irrevocably consents to the service of process in any action or proceeding in such courts by the mailing thereof by any parties hereto by registered or certified mail, postage prepaid, to the Company at its address specified pursuant
to Section 9.02. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in
this Agreement shall affect any right that any party may otherwise have to bring any action or proceeding relating to this Agreement or the Notes in the courts of any jurisdiction. 

(b) Each of the parties hereto irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any
objection that it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or the Notes in any New York State or federal court. Each of the parties hereto hereby irrevocably
waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 

SECTION 9.12. Designated Subsidiaries. (a) Designation. The Company may at any time and from time to time by delivery
to the Agent of a Designation Letter, duly executed by the Company and a wholly owned Subsidiary organized within the United States and in substantially the form of Exhibit E hereto, designate such Subsidiary as a “Designated
Subsidiary” for all purposes of this Agreement, and, upon fulfillment of the applicable conditions set forth in Section 3.02 and after such Designation Letter is accepted by the Agent, such Subsidiary shall thereupon become a
Designated Subsidiary for all purposes of this Agreement and, as such, shall have all of the rights and obligations of a Borrower hereunder. The Agent shall promptly notify each Lender of each such designation by the Company and the identity of each
such Designated Subsidiary. 
 (b) Termination. Upon the payment and performance in full of all of the indebtedness,
liabilities and obligations of any Designated Subsidiary under this Agreement and the Notes issued by it, then, so long as at such time such Designated Subsidiary has not submitted a Notice of Borrowing, such Designated Subsidiary’s status as a
Borrower and as a Designated Subsidiary shall terminate upon notice to such effect from the Agent to the Lenders (which notice the Agent shall promptly deliver to the Lenders following its receipt of such a request from the Company). Thereafter, the
Lenders shall be under no further obligation to make any Advances to such Designated Subsidiary. 
 SECTION 9.13. No
Liability of the Issuing Banks. The Borrowers assume all risks of the acts or omissions of any beneficiary or transferee of any Letter of Credit with respect to its use of such Letter of Credit. Neither an Issuing Bank nor any of its officers or
directors shall be liable or responsible for: (a) the use that may be made of any Letter of Credit or any acts or omissions of any beneficiary or transferee in connection therewith; (b) the validity, sufficiency or genuineness of
documents, or of any endorsement thereon, even if such documents should prove to be in any or all respects invalid, insufficient, fraudulent or forged; (c) payment by such Issuing Bank against presentation of documents that do not comply with
the terms of a Letter of Credit, including failure of any documents to bear any reference or adequate reference to the Letter of Credit; or (d) any other circumstances whatsoever in making or failing to make payment under any Letter of Credit,
except that the Borrowers shall have a claim against such Issuing Bank, and such Issuing Bank shall be liable to the Borrowers, to the extent of any direct, but not consequential damages suffered by a Borrower that such Borrower proves were caused
by (i) such Issuing Bank’s willful misconduct or gross negligence in determining whether documents presented under any Letter of Credit comply with the terms of the Letter of Credit or (ii) such Issuing Bank’s willful failure to
make lawful payment under a Letter of Credit after the presentation to it of a draft and certificates strictly complying with the terms and conditions of the Letter of Credit. In furtherance and not in limitation of the foregoing, such Issuing Bank
may accept documents that appear on their face to be in order, without responsibility for further investigation. 
 SECTION
9.14. Patriot Act. Each Lender hereby notifies each Borrower 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 each Loan Party, which information includes the name and address of each Loan Party and other information that will allow such Lender to identify such Loan Party in accordance with the Act. 

[The remainder of this page is intentionally left blank.] 
  

 50 

 SECTION 9.15. Waiver of Jury Trial. Each of the Borrowers, the Agent and the Lenders
hereby irrevocably waives all right to trial by jury in any action, proceeding or counterclaim (whether based on contract, tort or otherwise) arising out of or relating to this Agreement or the Notes or the actions of the Agent or any Lender in the
negotiation, administration, performance or enforcement thereof. 
 IN WITNESS WHEREOF, the parties hereto have caused this
Agreement to be executed by their respective officers thereunto duly authorized, as of the date first above written. 
  

			
	THE LUBRIZOL CORPORATION
		
	By	 	 
		 	Name:
		 	Title:
		
	By	 	 
		 	Name:
		 	Title:
	
	 CITICORP NORTH AMERICA, INC.,

    as Agent

		
	By	 	 
		 	Name:
		 	Title:

  

 51 

 Initial Issuing Bank 

 

			
	CITICORP NORTH AMERICA, INC.
		
	By	 	 
	Name:
	Title:

 Initial Lenders

  

			
	CITICORP NORTH AMERICA, INC.
		
	By	 	 
	Name:
	Title:
	
	KEYBANK NATIONAL ASSOCIATION
		
	By	 	 
	Name:
	Title:
	
	ABN AMRO BANK N.V.
		
	By	 	 
	Name:
	Title:
	
	WACHOVIA BANK, NATIONAL ASSOCIATION
		
	By	 	 
	Name:
	Title:
	
	FIFTH THIRD BANK
		
	By	 	 
	Name:
	Title:
	
	FORTIS CAPITAL CORP.
		
	By	 	 
	Name:
	Title:
	
	MIZUHO CORPORATE BANK, LTD.
		
	By	 	 
	Name:
	Title:

  

 52 

			
	PNC BANK, NATIONAL ASSOCIATION
		
	By	 	 
	Name:
	Title:
	
	THE ROYAL BANK OF SCOTLAND PLC
		
	By	 	 
	Name:
	Title:
	
	 THE BANK OF TOKYO-MITSUBISHI, LTD.,

CHICAGO BRANCH

		
	By	 	 
	Name:
	Title:
	
	CALYON NEW YORK BRANCH
		
	By	 	 
	Name:
	Title:
	
	DEUTSCHE BANK AG NEW YORK BRANCH
		
	By	 	 
	Name:
	Title:
		
	By	 	 
	Name:
	Title:
	
	U.S. BANK, NATIONAL ASSOCIATION
		
	By	 	 
	Name:
	Title:
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION
		
	By	 	 
	Name:
	Title:

  

 53 

 SCHEDULE I 

THE LUBRIZOL CORPORATION 

FIVE YEAR CREDIT AGREEMENT 

APPLICABLE LENDING OFFICES 
  

													
	 Name of Initial Lender
	 	Revolving Credit
Commitment	 	Term Commitment	 	Letter of Credit
Commitment	 	 Domestic Lending Office
	 	
Eurodollar Lending Office

	 Citicorp North America, Inc.
	 	$	60,465,116.28	 	$	69,534,883.72	 		 	 Two Penns Way
 New Castle, DE
19720
 Attn: Dave Graeber
 T: 302
894-6034
 F: 302 894-6120
	 	 Two Penns Way
 New Castle, DE
19720
 Attn: Dave Graeber
 T: 302
894-6034
 F: 302 894-6120

	 KeyBank National Association
	 	$	60,465,116.28	 	$	69,534,883.72	 		 	 127 Public Square
 Cleveland,
OH 44121
 Attn: Carolyn Zielski
 T: 216
689-0413
 F: 216 689-5962
	 	 127 Public Square
 Cleveland,
OH 44121
 Attn: Carolyn Zielski
 T: 216
689-0413
 F: 216 689-5962

	 ABN AMRO Bank N.V.
	 	$	52,325,581.40	 	$	60,174,418.60	 		 	 208 South LaSalle Street,

Suite 1500
 Chicago, IL 60604

Attn: John Byrd
 F: 312 992-5111
	 	 208 South LaSalle Street,

Suite 1500
 Chicago, IL 60604

Attn: John Byrd
 F: 312
992-5111

	 Wachovia Bank, National Association
	 	$	52,325,581.40	 	$	60,174,418.60	 		 	 201 S. College St, CP9

Charlotte, NC
 Attn: Lisa White

T: 704 374-4426
 F: 704 715-0098
	 	 201 S. College St, CP9

Charlotte, NC
 Attn: Lisa White

T: 704 374-4426
 F: 704
715-0098

	 Fifth Third Bank
	 	$	30,232,558.14	 	$	34,767,441.86	 		 	 5050 Kingsley Drive

Cincinnati, OH 45263
 Attn: Stacie
White
 T: 513-358-3060
 F: 513-358-0221

	 	 5050 Kingsley Drive

Cincinnati, OH 45263
 Attn: Stacie
White
 T: 513-358-3060
 F: 513-358-0221

	 Fortis Capital Corp.
	 	$	30,232,558.14	 	$	34,767,441.86	 		 	 3 Stamford Plaza
 301 Tresser
Boulevard, 9th Fl.

Stamford, CT 06901
 Attn: Frank
Campanelli
 T: 203 705-5936
 F: 203
705-5898
	 	 3 Stamford Plaza
 301 Tresser
Boulevard, 9th Fl.

Stamford, CT 06901
 Attn: Frank
Campanelli
 T: 203 705-5936
 F: 203
705-5898

													
	 Name of Initial Lender
	 	Revolving Credit
Commitment	 	Term Commitment	 	Letter of Credit
Commitment	 	 Domestic Lending Office
	 	
Eurodollar Lending Office

	 Mizuho Corporate Bank, Ltd.
	 	$	30,232,558.14	 	$	34,767,441.86	 		 	 1800 Plaza Ten
 Jersey City, NJ
07311
 Attn: Hyunsook Hwang
 T: 201
626-9416
 F: 201 626-9913
	 	 1800 Plaza Ten
 Jersey City, NJ
07311
 Attn: Hyunsook Hwang
 T: 201
626-9416
 F: 201 626-9913

	 PNC Bank, National Association
	 	$	30,232,558.14	 	$	34,767,441.86	 		 	 501 First Avenue
 #P7-FSC-04Z

 Pittsburgh, PA 15219
 Attn: April
Washington
 T: 412 768-6214
 F: 412
768-4586
	 	 501 First Avenue
 #P7-FSC-04Z

 Pittsburgh, PA 15219
 Attn: April
Washington
 T: 412 768-6214
 F: 412
768-4586

	 The Royal Bank of Scotland plc
	 	$	30,232,558.14	 	$	34,767,441.86	 		 	 101 Park Avenue
 New York, NY
10178
 Attn: Sheila Shaw
 T: 212
401-1406
 F: 212 401-1494
	 	 101 Park Avenue
 New York, NY
10178
 Attn: Sheila Shaw
 T: 212
401-1406
 F: 212 401-1494

	 The Bank of Tokyo-Mitsubishi, Ltd., Chicago Branch
	 	$	30,232,558.14	 	$	34,767,441.86	 		 	 Harborside Financial Center

500 Plaza III
 Jersey City, NJ 07311

Attn: Jimmy Yu
 T: 201 413-8566

F: 201 521-2335
	 	 Harborside Financial Center

500 Plaza III
 Jersey City, NJ 07311

Attn: Jimmy Yu
 T: 201 413-8566

F: 201 521-2335

	 Calyon New York Branch
	 	$	23,255,813.95	 	$	26,744,186.05	 		 	 1301 Avenue of the Americas

New York, NY 10019
 Attn: Jai Sanichar

T: 212-261-7611
 F: 212-459-3180
	 	 1301 Avenue of the Americas

New York, NY 10019
 Attn: Jai Sanichar

T: 212-261-7611
 F:
212-459-3180

	 Deutsche Bank AG New York Branch
	 	$	23,255,813.95	 	$	26,744,186.05	 		 	 90 Hudson Street, Floor 1

Jersey City, NJ 07302
 Attn: Ann-Renee Denora

 T: 201 593-2121
 F: 201
593-2313
	 	 90 Hudson Street, Floor 1

Jersey City, NJ 07302
 Attn: Ann-Renee Denora

 T: 201 593-2121
 F: 201
593-2313

	 U.S. Bank National Association
	 	$	23,255,813.95	 	$	26,744,186.05	 		 	 400 City Center
 Oshkosh, WI
54901
 Attn: Connie Sweeney
 T: 920
237-7604
 F: 920 237-7993
	 	 400 City Center
 Oshkosh, WI
54901
 Attn: Connie Sweeney
 T: 920
237-7604
 F: 920 237-7993

 

 2 

													
	 Name of Initial Lender
	 	Revolving Credit
Commitment	 	Term Commitment	 	Letter of Credit
Commitment	 	 Domestic Lending Office
	 	
Eurodollar Lending Office

	 Wells Fargo Bank, National Association
	 	$	23,255,813.95	 	$	26,744,186.05	 		 	 201 Third Street
 MAC 0187-081

 San Francisco, CA 94103
 Attn: Cindy
Dunn
 T: 415 477-5431
 F: 415 979-0675

	 	 201 Third Street
 MAC 0187-081

 San Francisco, CA 94103
 Attn: Cindy
Dunn
 T: 415 477-5431
 F: 415 979-0675

  

 3 

 SCHEDULE 1.01 

EXCLUDED DOMESTIC SUBSIDIARIES 

Agrigenetics Research Corporation 
 Cosmetochem
U.S.A. 
 Kalama Foreign Sales Corporation 

 Schedule 3.01(b) 

Litigation 
 None.

 Schedule 5.02(a) 

Liens 
 None.

 EXHIBIT A-1 - FORM OF 

REVOLVING CREDIT NOTE 

U.S.$            
                                         
                                         
      Dated:                     , 200_ 

FOR VALUE RECEIVED, the undersigned, [NAME OF BORROWER], a
                                        
corporation (the “Borrower”), HEREBY PROMISES TO PAY to
                                        
(the “Lender”) for the account of its Applicable Lending Office on the Termination Date (each as defined in the Credit Agreement referred to below) the principal sum of U.S.$[amount of the Lender’s Revolving Credit Commitment
in figures] or, if less, the aggregate principal amount of the Revolving Credit Advances (as defined below) made by the Lender to the Borrower pursuant to the Credit Agreement dated as of
                    , 2004 among the Borrower, [The Lubrizol Corporation,] the Lender and certain other lenders parties thereto, and Citicorp
North America, Inc., as Agent for the Lender and such other lenders (as amended or modified from time to time, the “Credit Agreement”; the terms defined therein being used herein as therein defined) outstanding on the Termination
Date. 
 The Borrower promises to pay interest on the unpaid principal amount of each Revolving Credit Advance from the date of
such Revolving Credit Advance until such principal amount is paid in full, at such interest rates, and payable at such times, as are specified in the Credit Agreement. 

Both principal and interest in respect of each Revolving Credit Advance are payable in lawful money of the United States of America to
the Agent at its account maintained at 399 Park Avenue, New York, New York 10043, in same day funds. Each Revolving Credit Advance owing to the Lender by the Borrower pursuant to the Credit Agreement, and all payments made on account of principal
thereof, shall be recorded by the Lender and, prior to any transfer hereof, endorsed on the grid attached hereto which is part of this Promissory Note. 

This Promissory Note is one of the Revolving Credit Notes referred to in, and is entitled to the benefits of, the Credit Agreement. The
Credit Agreement, among other things, (i) provides for the making of advances (the “Revolving Credit Advances”) by the Lender to the Borrower from time to time in an aggregate amount not to exceed at any time outstanding the
U.S. dollar amount first above mentioned, the indebtedness of the Borrower resulting from each such Revolving Credit Advance being evidenced by this Promissory Note and (ii) contains provisions for acceleration of the maturity hereof upon the
happening of certain stated events and also for prepayments on account of principal hereof prior to the maturity hereof upon the terms and conditions therein specified. 

 

			
	[NAME OF BORROWER]
		
	By	 	 
		 	Title:

 ADVANCES AND PAYMENTS OF PRINCIPAL 

 

									
	 Date
	 	 Amount of

Advance
	 	 Amount of

Principal Paid

or Prepaid
	  	Unpaid Principal
Balance	  	Notation
Made By
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	

  

 2 

 EXHIBIT A-2 - FORM OF 

TERM NOTE 

$            
                                         
                                         
          Dated:                     , 200_ 

FOR VALUE RECEIVED, the undersigned, [NAME OF BORROWER], a
                                        
corporation (the “Borrower”), HEREBY PROMISES TO PAY to
                                        
(the “Lender”) for the account of its Applicable Lending Office (defined in the Credit Agreement referred to below) the aggregate principal amount of the Term Advance (as defined below) owing to the Lender by the Borrower pursuant
to the Credit Agreement dated as of                     , 2004 among the Borrower, [The Lubrizol Corporation,] the Lender and certain other
lenders parties thereto, and Citicorp North America, Inc., as Agent for the Lender and such other lenders (as amended or modified from time to time, the “Credit Agreement”; the terms defined therein being used herein as therein
defined), on the dates and in the amounts specified in the Credit Agreement. 
 The Borrower promises to pay interest on the
unpaid principal amount of the Term Advance from the date of the Term Advance until such principal amount is paid in full, at such interest rates, and payable at such times, as are specified in the Credit Agreement. 

Both principal and interest are payable in lawful money of the United States of America to the Agent at its account maintained at 399
Park Avenue, New York, New York 10043, in same day funds. The Term Advance owing to the Lender by the Borrower and the maturity thereof, and all payments made on account of principal thereof, shall be recorded by the Lender and, prior to any
transfer hereof, endorsed on the grid attached hereto, which is part of this Promissory Note. 
 This Promissory Note is one of
the Term Notes referred to in, and is entitled to the benefits of, the Credit Agreement. The Credit Agreement, among other things, (i) provides for the making of an advance (the “Term Advance”) by the Lender to the Borrower in
an amount not to exceed the U.S. dollar amount first above mentioned, the indebtedness of the Borrower resulting from such Term Advance being evidenced by this Promissory Note, and (ii) contains provisions for acceleration of the maturity
hereof upon the happening of certain stated events and also for prepayments on account of principal hereof prior to the maturity hereof upon the terms and conditions therein specified. 

 

			
	[NAME OF BORROWER]
		
	By	 	 
		 	Title:

 ADVANCES AND PAYMENTS OF PRINCIPAL 

 

									
	 Date
	 	 Amount of

Advance
	 	 Amount of

Principal Paid

or Prepaid
	  	Unpaid Principal
Balance	  	Notation
Made By
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	

  

 2 

 EXHIBIT B - FORM OF NOTICE OF 

BORROWING 
 Citicorp North
America, Inc., as Agent 
   for the Lenders parties 

  to the Credit Agreement 

  referred to below 
   Two
Penns Way 
   New Castle, Delaware 19720 

[Date] 

Attention: Bank Loan Syndications Department 

Ladies and Gentlemen: 
 The
undersigned, [Name of Borrower], refers to the Credit Agreement, dated as of                     , 2004 (as amended or modified from time to
time, the “Credit Agreement”, the terms defined therein being used herein as therein defined), among the undersigned, [The Lubrizol Corporation,] certain Lenders parties thereto and Citicorp North America, Inc., as Agent for said
Lenders, and hereby gives you notice, irrevocably, pursuant to Section 2.02 of the Credit Agreement that the undersigned hereby requests a Borrowing under the Credit Agreement, and in that connection sets forth below the information relating to
such Borrowing (the “Proposed Borrowing”) as required by Section 2.02(a) of the Credit Agreement: 

(i) The Business Day of the Proposed Borrowing is
                    , 200_. 

(ii) The Proposed Borrowing is to be made under the [Revolving Credit][Term] Facility. 

(iii) The Type of Advances comprising the Proposed Borrowing is [Base Rate Advances] [Eurodollar Rate Advances].

 (iv) The aggregate amount of the Proposed Borrowing is
$            ]. 
 [(v) The initial Interest
Period for each Eurodollar Rate Advance made as part of the Proposed Borrowing is             
 month[s].] 

The undersigned hereby certifies that the following statements are true on the date hereof, and will be true on the date of the Proposed
Borrowing: 
 (A) the representations and warranties contained in Section 4.01 of the Credit Agreement
(except the representations set forth in the last sentence of subsection (e) thereof) (and, if the undersigned is a Designated Subsidiary, in the applicable Designation Letter) are correct, before and after giving effect to the Proposed
Borrowing and to the application of the proceeds therefrom, as though made on and as of such date except to the extent that such representations and warranties expressly relate to an earlier specified date; and 

 (B) no event has occurred and is continuing, or would result from such
Proposed Borrowing or from the application of the proceeds therefrom, that constitutes a Default. 
  

			
	 Very truly yours,
  

[NAME OF BORROWER]

		
	By	 	 
		 	Title:

  

 2 

 EXHIBIT C - FORM OF 

ASSIGNMENT AND ACCEPTANCE 

Reference is made to the Credit Agreement dated as of
                    , 2004 (as amended or modified from time to time, the “Credit Agreement”) among The Lubrizol Corporation,
an Ohio corporation (the “Company”), the Lenders (as defined in the Credit Agreement) and Citicorp North America, Inc., as agent for the Lenders (the “Agent”). Terms defined in the Credit Agreement are used herein
with the same meaning. 
 The “Assignor” and the “Assignee” referred to on Schedule I hereto agree as
follows: 
 1. The Assignor hereby sells and assigns to the Assignee, without recourse, and the Assignee hereby purchases and
assumes from the Assignor, an interest in and to the Assignor’s rights and obligations under the Credit Agreement Facility or Facilities on Schedule I hereto together with, in the case of an assignment of a Revolving Credit Commitment,
participations in Letters of Credit held by the Assignor on the date hereof. After giving effect to such sale and assignment, the Assignee’s Commitment and the amount of the Advances owing to the Assignee will be as set forth on Schedule 1
hereto. 
 2. The Assignor (i) represents and warrants that it is the legal and beneficial owner of the interest being
assigned by it hereunder and that such interest is free and clear of any adverse claim; (ii) makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in
connection with the Credit Agreement or the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Credit Agreement or any other instrument or document furnished pursuant thereto; (iii) makes no representation
or warranty and assumes no responsibility with respect to the financial condition of any Borrower or the performance or observance by any Borrower of any of its obligations under the Credit Agreement or any other instrument or document furnished
pursuant thereto; and (iv) attaches the Note[, if any,] held by the Assignor [and requests that the Agent exchange such Note for a new Note payable to [the Assignee in an amount equal to the Commitments assumed by the Assignee pursuant hereto
or new Notes payable to the Assignee in an amount equal to the Commitments assumed by the Assignee pursuant hereto and] the Assignor in an amount equal to the Commitments retained by the Assignor under the Credit Agreement[, respectively,] as
specified on Schedule 1 hereto]. 
 3. The Assignee (i) confirms that it has received a copy of the Credit Agreement,
together with copies of the financial statements referred to in Section 4.01 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 and
Acceptance; (ii) agrees that it will, independently and without reliance upon the Agent, the Assignor or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit
decisions in taking or not taking action under the Credit Agreement; (iii) confirms that it is an Eligible Assignee; (iv) appoints and authorizes the Agent to take such action as agent on its behalf and to exercise such powers and
discretion under the Credit Agreement as are delegated to the Agent by the terms thereof, together with such powers and discretion as are reasonably incidental thereto; (v) agrees that it will perform in accordance with their terms all of the
obligations that by the terms of the Credit Agreement are required to be performed by it as a Lender; and (vi) attaches any U.S. Internal Revenue Service forms required under Section 2.14 of the Credit Agreement. 

4. Following the execution of this Assignment and Acceptance, it will be delivered to the Agent for acceptance and recording by the
Agent. The effective date for this Assignment and Acceptance (the “Effective Date”) shall be the date of acceptance hereof by the Agent, unless otherwise specified on Schedule 1 hereto. 

5. Upon such acceptance and recording by the Agent, as of the Effective Date, (i) the Assignee shall be a party to the Credit
Agreement and, to the extent provided in this Assignment and Acceptance, have the rights and obligations of a Lender thereunder and (ii) the Assignor shall, to the extent provided in this Assignment and Acceptance, relinquish its rights and be
released from its obligations under the Credit Agreement. 

 6. Upon such acceptance and recording by the Agent, from and after the Effective Date, the
Agent shall make all payments under the Credit Agreement and the Notes in respect of the interest assigned hereby (including, without limitation, all payments of principal, interest and facility fees with respect thereto) to the Assignee. The
Assignor and Assignee shall make all appropriate adjustments in payments under the Credit Agreement and the Notes for periods prior to the Effective Date directly between themselves. 

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

 8. This Assignment and Acceptance may be executed in any number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart of Schedule 1 to this Assignment and Acceptance by
telecopier shall be effective as delivery of a manually executed counterpart of this Assignment and Acceptance. 
 IN WITNESS
WHEREOF, the Assignor and the Assignee have caused Schedule 1 to this Assignment and Acceptance to be executed by their officers thereunto duly authorized as of the date specified thereon. 

 

 2 

 Schedule 1 

to 
 Assignment and
Acceptance 
  

					
	 Revolving Credit Facility
	  			
	 Percentage interest assigned:
	  	 	______	% 
	 Assignee’s Revolving Credit Commitment:
	  	$	______	  
	 Aggregate outstanding principal amount of Advances assigned:
	  	$	______	  
	 Principal amount of Revolving Credit Note payable to Assignee:
	  	$	______	  
	 Principal amount of Revolving Credit Note payable to Assignor:
	  	$	______	  
	 Term Facility
	  			
	 Percentage interest assigned:
	  	 	_____	% 
	 Assignee’s Revolving Credit Commitment:
	  	$	______	  
	 Aggregate outstanding principal amount of Advances assigned:
	  	$	______	  
	 Principal amount of Term Note payable to Assignee:
	  	$	______	  
	 Principal amount of Term Note payable to Assignor:
	  	$	______	  
	 Letter of Credit Facility
	  			
	 Percentage interest assigned:
	  	 	______	% 
	 Assignee’s Letter of Credit Commitment:
	  	$	______	  
	 Effective Date*:
                    , 200_
	  			

  

			
	[NAME OF ASSIGNOR], as Assignor
		
	By	 	 
	Title:
	
	Dated:                         ,
200_

  

	*	This date should be no earlier than five Business Days after the delivery of this Assignment and Acceptance to the Agent. 

 

 3 

			
	[NAME OF ASSIGNEE], as Assignee
		
	By	 	 
	Title:
	
	Dated:                     , 200_
	
	 Domestic Lending Office:

            [Address]

 
 Eurodollar Lending Office:

            [Address]

 

					
	 Accepted [and Approved]** this

                     day of
                    , 200_
  

CITICORP NORTH AMERICA, INC., as Agent

			
	By	 	 	 	
		 	Title:	 	
		
	 [Approved this
                     day
 of
                    , 200_
  

THE LUBRIZOL CORPORATION
	 	
			
	By	 	 	 	]*
		 	Title:	 	

  

	**	Required if the Assignee is an Eligible Assignee solely by reason of clause (iii) of the definition of “Eligible Assignee”. 

	*	Required if the Assignee is an Eligible Assignee solely by reason of clause (iii) of the definition of “Eligible Assignee”. 

 

 4 

 EXHIBIT D - FORM OF 

OPINION OF COUNSEL 

FOR THE BORROWER 

                       
     [Effective Date] 
 To each of the Lenders parties 

  to the Five Year Credit Agreement 

  referred to below and 

  to Citicorp North America, Inc., as Agent 

The Lubrizol Corporation 

Ladies and Gentlemen: 
 This
opinion is furnished to you pursuant to Section 3.01(i)(v) of the Credit Agreement, dated as of                     , 2004 (the
“Credit Agreement”), among The Lubrizol Corporation (the “Company”), the Lenders parties thereto and Citicorp North America, Inc., as Agent for said Lenders. Terms defined in the Credit Agreement are used herein as
therein defined. 
 I am Vice President and General Counsel for the Loan Parties in connection with the preparation, execution
and delivery of the Loan Documents. 
 In that connection, I have examined: 

(1) The Credit Agreement. 

(2) The Subsidiary Guaranty. 

(3) The documents furnished by each Loan Party pursuant to Section 3.01 of the Credit Agreement. 

(4) The Amended Articles of Incorporation and all amendments thereto (the “Articles”) of each Loan Party.

 (5) The Regulations or By-Laws of each Loan Party and all amendments thereto. 

(6) A certificate of the Secretary of State of Ohio, dated
                    , 2004, attesting to the continued corporate existence and good standing of the Company in that State. 

(7) Certificates of the Secretary of State of the jurisdiction of organization of each Subsidiary Guarantor, dated
                    , 2004, attesting to the continued corporate existence and good standing of that Subsidiary Guarantor. 

I have also examined the originals, or copies certified to my satisfaction, of the documents listed in a certificate of the chief financial officer of
the Company, dated the date hereof (the “Certificate”), certifying that the documents listed in such certificate are all of the indentures, loan or credit agreements, leases, guaranties, mortgages, security agreements, bonds, notes
and other agreements or instruments, and all of the orders, writs, judgments, awards, injunctions and decrees, that affect or purport to affect each Loan Party’s right to borrow money or such Loan Party’s

 
obligations under the Loan Documents. In addition, I have examined the originals, or copies certified to my satisfaction, of such other corporate records of the Loan Parties, certificates of
public officials and of officers of the Loan Parties, and agreements, instruments and other documents, as I have deemed necessary as a basis for the opinions expressed below. As to questions of fact material to such opinions, I have, when relevant
facts were not independently established by me, relied upon certificates of the Loan Parties or their officers or of public officials. I have assumed the due execution and delivery, pursuant to due authorization, of the Credit Agreement by the
Initial Lenders and the Agent. 
 My opinions expressed below are limited to the law of the State of Ohio, [the General
Corporation Law of the State of Delaware] and the Federal law of the United States. 
 Based upon the foregoing, subject to the
qualifications set forth below and upon such investigation as I have deemed necessary, I am of the following opinion: 

1. Each Loan Party is an entity duly organized, validly existing and in good standing under the laws of the jurisdiction
of its formation. 
 2. The execution, delivery and performance by each Loan Party of the Loan Documents to which
it is a party, and the consummation of the transactions contemplated thereby, are within each Loan Party’s corporate powers, have been duly authorized by all necessary corporate action, and do not contravene (i) the Articles or the
Regulations of such Loan Party or (ii) any law, rule or regulation applicable to any Loan Party (including, without limitation, Regulation X of the Board of Governors of the Federal Reserve System) or (iii) any contractual or legal
restriction contained in any document listed in the Certificate or, to the best of my knowledge, contained in any other similar document. Each Loan Document has been duly executed and delivered on behalf of each Loan Party signatory thereto.

 3. No authorization, approval or other action by, and no notice to or filing with, any governmental authority
or regulatory body or any other third party is required for the due execution, delivery and performance by any Loan Party of any Loan Document to which it is a party. 

4. To the best of my knowledge, there are no pending or overtly threatened actions or proceedings against the Company or
any of its Subsidiaries before any court, governmental agency or arbitrator that purport to affect the legality, validity, binding effect or enforceability of any Loan Document or the consummation of the transactions contemplated thereby or, except
as described in Schedule 3.01(b) to the Credit Agreement, that are likely to have a materially adverse effect upon the financial condition or operations of the Company or any of its Subsidiaries. 

5. Courts of the State of Ohio and Federal courts sitting in the State of Ohio will respect a contractual choice of law
made in a contract, such as Section 9.09 of the Credit Agreement and Section 16(b) of the Subsidiary Guaranty, and will apply the laws of the chosen state, unless either the chosen state has no substantial relationship to the parties or
the transaction and there is no reasonable basis for the parties’ choice, or application of the laws of the chosen state would be contrary to the fundamental policy of a state having a greater material interest in the issue than the chosen
state and such state would be the state of applicable law in the absence of a choice by the parties. Under this test, although I find no authority in point and cannot opine definitely, I believe on a reasoned basis, that in any action or proceeding
arising out of or relating to the Credit Agreement, the Subsidiary Guaranty or the Notes in any court of the State of Ohio or in any Federal court sitting in the State of Ohio, such court would recognize and give effect to the provisions of
Section 9.09 of the Credit Agreement and Section 16(b) of the Subsidiary Guaranty wherein the parties thereto agree that the Credit Agreement, the Subsidiary Guaranty and the Notes shall be governed by, and construed in accordance with,
the laws of the State of New York. Without limiting the generality of the foregoing and on the same reasoned basis, I believe that a court of the State of Ohio or a Federal court sitting in the State of Ohio would apply the usury law of the
State of New York, and would not apply the usury law of the State of Ohio, to the Credit Agreement, Subsidiary Guaranty and the Notes. However, if a court of the State of Ohio or a Federal court sitting in the State of Ohio were to hold that
the 
  

 2 

 
Credit Agreement, the Subsidiary Guaranty and the Notes are governed by, and to be construed in accordance with, the laws of the State of Ohio, the Credit Agreement, the Subsidiary Guaranty and
the Notes would be, under the laws of the State of Ohio, legal, valid and binding obligations of each Loan Party party thereto, enforceable against such Loan Party in accordance with their respective terms. 

The opinions set forth above are subject to the following qualifications: 

(a) My opinion in the last sentence of paragraph 5 above as to enforceability is subject to the effect of any
applicable bankruptcy, insolvency (including, without limitation, all laws relating to fraudulent transfers), reorganization, moratorium or similar law affecting creditors’ rights generally. 

(b) My opinion in the last sentence of paragraph 5 above as to enforceability is subject to the effect of general
principles of equity, including, without limitation, concepts of materiality, reasonableness, good faith and fair dealing (regardless of whether considered in a proceeding in equity or at law). 

(c) I express no opinion as to (i) Section 2.15 of the Credit Agreement insofar as it provides that any Lender
purchasing a participation from another Lender pursuant thereto may exercise set-off or similar rights with respect to such participation and (ii) the effect of the law of any jurisdiction other than the State of Ohio wherein any Lender may be
located or wherein enforcement of the Credit Agreement or the Notes may be sought that limits the rates of interest legally chargeable or collectible. 

(d) My opinion in paragraph 3 above is not intended to cover consents, approvals or filings that might be required as a
result of the ordinary course of conduct by any Loan Party of its businesses and operations. 
 (e) The opinions
expressed herein are as of the date of this opinion letter only and as to the laws covered hereby only as they are in effect on that date and I assume no obligation to update or supplement such opinions to reflect any facts or circumstances that may
come to my attention after that date or any changes in law that may occur or become effective after that date. 

This opinion is solely for your benefit and for the benefit of your successors and assigns in connection with the
transactions contemplated by the Loan Documents and is not to be given to or relied on by any other person or entity or for any other purpose without my prior written consent. 

 

	
	Very truly yours,
	
	 
	 JOSEPH W. BAUER
 Vice
President and General Counsel for
 The Lubrizol Corporation

 

 3 

 EXHIBIT E 

FORM OF DESIGNATION LETTER 

[Date]                      
                           

To each of the Lenders parties 
   to
the Five Year Credit Agreement 
   referred to below and 

  to Citicorp North America, Inc., as Agent 

Ladies and Gentlemen: 

Reference is made to the Credit Agreement, dated as of
                    , 2004 (the “Credit Agreement”), among The Lubrizol Corporation (the “Company”), the
Lenders parties thereto and Citicorp North America, Inc., as Agent for said Lenders. Terms defined in the Credit Agreement are used herein as therein defined. 

Please be advised that the Company hereby designates the undersigned wholly owned Subsidiary organized within the United States,
                    , a
                     (the “Designated Subsidiary”), as a “Designated Subsidiary” and a “Borrower” under
and for all purposes of the Credit Agreement. 
 The Designated Subsidiary, in consideration of the agreement of each Lender to
extend credit to it from time to time under, and on the terms and conditions set forth in, the Credit Agreement does hereby assume each of the obligations imposed upon a Designated Subsidiary and a Borrower under the Credit Agreement and agrees to
be bound by all of the terms and conditions of the Credit Agreement. Notwithstanding any other provisions of the Credit Agreement or this Designation Letter, stock of a foreign entity directly held by the Designated Subsidiary shall not serve as
security for any or all of the obligations imposed upon a Designated Subsidiary and a Borrower under the Credit Agreement, other than stock of any such foreign entity representing no more than 65% of the total combined voting power of all classes of
stock of such entity entitled to vote. The Designated Subsidiary has, on the date hereof, delivered to the Agent a properly completed and duly executed Note, in substantially the form of Exhibit A-1 or A-2, as applicable, to the Credit Agreement,
payable to each Lender that has made a request pursuant to Section 2.16 of the Credit Agreement. 
 In furtherance of the
foregoing, the Designated Subsidiary hereby represents and warrants to the Agent and each of the Lenders as follows: 

1. The Designated Subsidiary is a Person duly organized, validly existing and, to the extent such concept is applicable in
the jurisdiction of organization of the Designated Subsidiary, in good standing under the laws of                     . 

2. The execution, delivery and performance by the Designated Subsidiary of this Designation Letter, the Credit Agreement
and the Notes issued by the Designated Subsidiary and the consummation of the transactions contemplated hereby and thereby, are within the Designated Subsidiary’s powers, have been duly authorized by all necessary action (including, without
limitation, all necessary stockholders’ action), and do not contravene (a) the Designated Subsidiary’s charter or by-laws (or similar organizational documents) or (b) law or any contractual restriction binding on or affecting the
Designated Subsidiary. 
 3. No authorization or approval or other action by, and no notice to or filing with,
any governmental authority or regulatory body or any other third party is required for the due execution, delivery and performance by the Designated Subsidiary of this Designation Letter, the Credit Agreement or any of the Notes issued by the
Designated Subsidiary, or for the consummation of the transactions contemplated hereby and thereby, except as have been obtained or made and are in full force and effect. 

 4. This Designation Letter has been, and each of the Notes issued by the
Designated Subsidiary when executed and delivered under the Credit Agreement will have been, duly executed and delivered by the Designated Subsidiary. Each of this Designation Letter and the Credit Agreement is, and each of the Notes issued by the
Designated Subsidiary when delivered under the Credit Agreement will be, the legal, valid and binding obligation of the Designated Subsidiary, enforceable against the Designated Subsidiary in accordance with their respective terms, except to the
extent that the enforceability thereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws generally affecting creditors’ rights and by equitable principles (regardless of whether enforcement is
sought in equity or law). 
 5. There is no pending or, to the knowledge of the Designated Subsidiary, threatened
action, suit, investigation, litigation or proceeding, including, without limitation, any Environmental Action, affecting the Designated Subsidiary or any of its Subsidiaries before any court, governmental agency or arbitrator that (i) could
reasonably be expected to have a Material Adverse Effect or (ii) purports to affect the legality, validity or enforceability of this Designation Letter, the Credit Agreement or any of the Notes issued by the Designated Subsidiary, or the
consummation of the transactions contemplated hereby and thereby. 
 6. The Designated Subsidiary is not engaged
in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulation U of the Board of Governors of the Federal Reserve System), and no proceeds of any Advance to the Designated Subsidiary
will be used to purchase or carry any margin stock or to extend credit to others for the purpose of purchasing or carrying margin stock 

The Designated Subsidiary hereby irrevocably appoints the Company as its authorized agent to receive and deliver notices in accordance
with Section 9.02(c) of the Credit Agreement, and hereby irrevocably agrees that (A) in the case of any notices delivered to the Company, on behalf of the Designated Subsidiary, in accordance with Section 9.02(b) of the Credit
Agreement, the failure of the Company to give any notice referred to therein to the Designated Subsidiary shall not impair or affect the validity of such notice with respect thereto and (B) in the case of Notice of Borrowing or notice of
Conversion delivered pursuant to Section 2.07 of the Credit Agreement by the Company, on behalf of the Designated Subsidiary, in accordance with Section 9.02(b) of the Credit Agreement, the delivery of any such notice by the Company, on
behalf of the Designated Subsidiary, shall be binding on the Designated Subsidiary to the same extent as if such notice had been executed and delivered directly by the Designated Subsidiary. 

The Designated Subsidiary hereby irrevocably and unconditionally submits, for itself and its property, to the nonexclusive jurisdiction
of any New York state court or federal court of the United States of America sitting in New York City, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Designation Letter, the Credit
Agreement or any of the Notes issued by the Designated Subsidiary or for recognition or enforcement of any judgment, and hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and
determined in any such New York State court or, to the extent permitted by applicable law, in such federal court. The Designated Subsidiary hereby further irrevocably consents to the service of process in any action or proceeding in such courts
by the mailing thereof by any Lender or the Agent by registered or certified mail, postage prepaid, to it at its address specified below its name on the signature page hereto. The Designated Subsidiary hereby further agrees that service of process
in any such action or proceeding brought in any such New York State court or in any such federal court may be made upon the Company at the address referred to in Section 9.02 of the Credit Agreement, and the Designated Subsidiary hereby
irrevocably appoints the Company as its authorized agent to accept such service of process, and agrees that the failure of the Company to give any notice of any such service to it shall not impair or affect the validity of such service or of any
judgment rendered in any action or proceeding based thereon. The Designated Subsidiary agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any
other manner provided by applicable law. Nothing in this Designation Letter, the Credit Agreement or any of the Notes issued by the Designated Subsidiary shall affect any right that any party may otherwise have to serve legal process in any other
manner permitted by applicable law or to bring any action or proceeding relating to this Designation Letter, the Credit Agreement or any such Note in the courts of any jurisdiction. 

 

 2 

 The Designated Subsidiary irrevocably and unconditionally waives, to the fullest extent it
may legally and effectively do so, any objection that it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Designation Letter, the Credit Agreement or any of the Notes issued by it
in any New York state or federal court. The Designated Subsidiary hereby irrevocably waives, to the fullest extent permitted by applicable law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such
court. 
 To the extent that the Designated Subsidiary has or hereafter may acquire any immunity from jurisdiction of any court
or from any legal process (whether through service or notice, attachment prior to judgment, attachment in aid of execution, execution or otherwise) with respect to itself or its property, the Designated Subsidiary hereby irrevocably waives such
immunity in respect of its obligations under this Designation Letter, the Credit Agreement or any of the Notes issued by it. 

The Designated Subsidiary hereby irrevocably waives all right to trial by jury in any action, proceeding or counterclaim (whether based
on contract, tort or otherwise) arising out of or relating to this Designation Letter, the Credit Agreement or any of the Notes issued by it or the actions of the Agent or any Lender in the negotiation, administration, performance or enforcement
thereof. 
  

			
	Very truly yours,
	
	THE LUBRIZOL CORPORATION
		
	By	 	 
		 	Name:
		 	Title:
	
	[THE DESIGNATED SUBSIDIARY]
		
	By	 	 
		 	Name:
		 	Title:
		
		 	Address:

  

			
	 Acknowledged and Agreed to

    as of the date first above written:

	
	CITIBANK, N.A., as Agent
		
	By	 	 
		 	Name:
		 	Title:

  

 3 

 EXHIBIT F 

FORM OF SUBSIDIARY GUARANTY 

SUBSIDIARY GUARANTY 

Dated as of September 28, 2004 

From 
 THE
GUARANTORS NAMED HEREIN 
 and 

THE ADDITIONAL GUARANTORS REFERRED TO HEREIN 

as Guarantors 

in favor of 
 THE
GUARANTEED PARTIES REFERRED TO IN 
 THE CREDIT AGREEMENT REFERRED TO HEREIN 

 T A B L E O F C O N
T E N T S 
  

					
	 Section
	 	 	  	Page
			
	Section 1.	 	Guaranty; Limitation of Liability	  	1
			
	Section 2.	 	Guaranty Absolute	  	2
			
	Section 3.	 	Waivers and Acknowledgments	  	3
			
	Section 4.	 	Subrogation	  	4
			
	Section 5.	 	Payments Free and Clear of Taxes, Etc.	  	5
			
	Section 6.	 	Representations and Warranties	  	5
			
	Section 7.	 	Covenants	  	6
			
	Section 8.	 	Amendments, Guaranty Supplements, Etc.	  	6
			
	Section 9.	 	Notices, Etc.	  	6
			
	Section 10.	 	No Waiver; Remedies	  	6
			
	Section 11.	 	Right of Set-off	  	7
			
	Section 12.	 	Indemnification	  	7
			
	Section 13.	 	Subordination	  	7
			
	Section 14.	 	Continuing Guaranty; Assignments under the Credit Agreement	  	8
			
	Section 15.	 	Execution in Counterparts	  	9
			
	Section 16.	 	Governing Law; Jurisdiction; Waiver of Jury Trial, Etc.	  	9

 Exhibit A - Guaranty Supplement

 SUBSIDIARY GUARANTY 

SUBSIDIARY GUARANTY dated as of September 28, 2004 (this “Guaranty”) made by the Persons listed on the signature pages hereof
under the caption “Subsidiary Guarantors” and the Additional Guarantors (as defined in Section 8(b)) (such Persons so listed and the Additional Guarantors being, collectively, the “Guarantors” and, individually,
each a “Guarantor”) in favor of the Agent for the benefit of the Guaranteed Parties (as defined below). 

PRELIMINARY STATEMENT. The Lubrizol Corporation (the “Company”), an Ohio corporation and each Designated
Subsidiary (the “Borrowers”), are party to a Credit Agreement dated as of August 24, 2004 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”; the capitalized terms defined therein and not otherwise defined herein being used herein as therein defined) with certain Lenders party thereto and Citicorp North America, Inc., as Agent for such Lenders (the Agent and the
Lenders are, collectively, the “Guaranteed Parties”). Each Guarantor may receive, directly or indirectly, a portion of the Advances under the Credit Agreement and will derive substantial direct and indirect benefits from the
transactions contemplated by the Credit Agreement. It is a condition precedent to the making of Advances and the issuance of Letters of Credit by the Lenders under the Credit Agreement from time to time that each Guarantor shall have executed and
delivered this Guaranty. 
 NOW, THEREFORE, in consideration of the premises and in order to induce the Lenders to make Advances
and to issue Letters of Credit under the Credit Agreement, each Guarantor, jointly and severally with each other Guarantor, hereby agrees as follows: 

Section 1. Guaranty; Limitation of Liability. (a) Each Guarantor hereby absolutely, unconditionally and irrevocably guarantees the
punctual payment when due, whether at scheduled maturity or on any date of a required prepayment or by acceleration, demand or otherwise, of all obligations of each other Loan Party now or hereafter existing under or in respect of the Loan Documents
(including, without limitation, any extensions, modifications, substitutions, amendments or renewals of any or all of the foregoing obligations), whether direct or indirect, absolute or contingent, and whether for principal, interest, premiums,
fees, indemnities, contract causes of action, costs, expenses or otherwise (such obligations being the “Guaranteed Obligations”), and agrees to pay any and all expenses (including, without limitation, the reasonable fees and
expenses of counsel) incurred by the Agent or any other Guaranteed Party in enforcing any rights under this Guaranty or any other Loan Document. Without limiting the generality of the foregoing, each Guarantor’s liability shall extend to all
amounts that constitute part of the Guaranteed Obligations and would be owed by any other Loan Party to any Guaranteed Party under or in respect of the Loan Documents but for the fact that they are unenforceable or not allowable due to the existence
of a bankruptcy, reorganization or similar proceeding involving such other Loan Party. 
 (b) Each Guarantor, and by its
acceptance of this Guaranty, the Agent and each other Guaranteed Party, hereby confirms that it is the intention of all such Persons that this Guaranty and the obligations of each Guarantor hereunder not constitute a fraudulent transfer or
conveyance for purposes of Bankruptcy Law (as hereinafter defined), the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar foreign, federal or state 

 
law to the extent applicable to this Guaranty and the obligations of each Guarantor hereunder. To effectuate the foregoing intention, the Agent, the Guaranteed Parties and the Guarantors hereby
irrevocably agree that the obligations of each Guarantor under this Guaranty at any time shall be limited to the maximum amount as will result in the obligations of such Guarantor under this Guaranty not constituting a fraudulent transfer or
conveyance. For purposes hereof, “Bankruptcy Law” means any proceeding of the type referred to in Section 6.01(e) of the Credit Agreement or Title 11, U.S. Code, or any similar foreign, federal or state law for the
relief of debtors. 
 (c) Each Guarantor hereby unconditionally and irrevocably agrees that in the event any payment shall be
required to be made to any Guaranteed Party under this Guaranty or any other guaranty, such Guarantor will contribute, to the maximum extent permitted by law, such amounts to each other Guarantor and each other guarantor so as to maximize the
aggregate amount paid to the Guaranteed Parties under or in respect of the Loan Documents. 
 (d) Notwithstanding any other
provisions of the Credit Agreement or this Guaranty, stock or other equity interests of a foreign entity directly held by a Guarantor shall not serve as security or collateral for any or all of the Guaranteed Obligations, other than stock or other
equity interests of any such foreign entity representing no more than 65% of the total combined voting power of all classes of stock or other equity interests of such foreign entity entitled to vote. 

Section 2. Guaranty Absolute. Each Guarantor guarantees that the Guaranteed Obligations will be paid strictly in accordance with
the terms of the Loan Documents, regardless of any law, regulation or order now or hereafter in effect in any jurisdiction affecting any of such terms or the rights of any Guaranteed Party with respect thereto. The obligations of each Guarantor
under or in respect of this Guaranty are independent of the Guaranteed Obligations or any other obligations of any other Loan Party under or in respect of the Loan Documents, and a separate action or actions may be brought and prosecuted against
each Guarantor to enforce this Guaranty, irrespective of whether any action is brought against the Borrowers or any other Loan Party or whether the Borrowers or any other Loan Party are joined in any such action or actions. The liability of each
Guarantor under this Guaranty shall be irrevocable, absolute and unconditional irrespective of, and, to the extent not prohibited by applicable law, each Guarantor hereby irrevocably waives any defenses it may now have or hereafter acquire in any
way relating to, any or all of the following: 
 (a) any lack of validity or enforceability of any Loan Document or any
agreement or instrument relating thereto; 
 (b) any change in the time, manner or place of payment of, or in any other term of,
all or any of the Guaranteed Obligations or any other obligations of any other Loan Party under or in respect of the Loan Documents, or any other amendment or waiver of or any consent to departure from any Loan Document, including, without
limitation, any increase in the Guaranteed Obligations resulting from the extension of additional credit to any Loan Party or any of its Subsidiaries or otherwise; 

 

 2 

 (c) any taking, exchange, release or non-perfection of any collateral, or any taking,
release or amendment or waiver of, or consent to departure from, any other guaranty, for all or any of the Guaranteed Obligations; 

(d) any manner of application of collateral, or proceeds thereof, to all or any of the Guaranteed Obligations, or any manner of sale or
other disposition of any collateral for all or any of the Guaranteed Obligations or any other obligations of any Loan Party under the Loan Documents or any other assets of any Loan Party or any of its Subsidiaries; 

(e) any change, restructuring or termination of the corporate structure or existence of any Loan Party or any of its Subsidiaries;

 (f) any failure of any Guaranteed Party to disclose to any Loan Party any information relating to the business, condition
(financial or otherwise), operations, performance, properties or prospects of any other Loan Party now or hereafter known to such Guaranteed Party (each Guarantor waiving any duty on the part of the Guaranteed Parties to disclose such information);

 (g) the failure of any other Person to execute or deliver this Guaranty, any Guaranty Supplement (as hereinafter defined) or
any other guaranty or agreement or the release or reduction of liability of any Guarantor or other guarantor or surety with respect to the Guaranteed Obligations; or 

(h) any other circumstance (including, without limitation, any statute of limitations) or any existence of or reliance on any
representation by any Guaranteed Party that might otherwise constitute a defense available to, or a discharge of, any Loan Party or any other guarantor or surety. 

This Guaranty shall continue to be effective or be reinstated, as the case may be, if at any time any payment of any of the Guaranteed Obligations is
rescinded or must otherwise be returned by any Guaranteed Party or any other Person upon the insolvency, bankruptcy or reorganization of the Borrowers or any other Loan Party or otherwise, all as though such payment had not been made. 

Section 3. Waivers and Acknowledgments. (a) Each Guarantor hereby unconditionally and irrevocably waives promptness,
diligence, notice of acceptance, presentment, demand for performance, notice of nonperformance, default, acceleration, protest or dishonor and any other notice with respect to any of the Guaranteed Obligations and this Guaranty and any requirement
that any Guaranteed Party protect, secure, perfect or insure any Lien or any property subject thereto or exhaust any right or take any action against any Loan Party or any other Person or any collateral. 

(b) Each Guarantor hereby unconditionally and irrevocably waives any right to revoke this Guaranty and acknowledges that this Guaranty is
continuing in nature and applies to all Guaranteed Obligations, whether existing now or in the future. 
  

 3 

 (c) Each Guarantor hereby unconditionally and irrevocably waives (i) any defense
arising by reason of any claim or defense based upon an election of remedies by any Guaranteed Party that in any manner impairs, reduces, releases or otherwise adversely affects the subrogation, reimbursement, exoneration, contribution or
indemnification rights of such Guarantor or other rights of such Guarantor to proceed against any of the other Loan Parties, any other guarantor or any other Person or any collateral and (ii) any defense based on any right of set-off or
counterclaim against or in respect of the obligations of such Guarantor hereunder. 
 (d) Each Guarantor hereby unconditionally
and irrevocably waives any duty on the part of any Guaranteed Party to disclose to such Guarantor any matter, fact or thing relating to the business, condition (financial or otherwise), operations, performance, properties or prospects of any other
Loan Party or any of its Subsidiaries now or hereafter known by such Guaranteed Party. 
 (e) Each Guarantor acknowledges that
it will receive substantial direct and indirect benefits from the financing arrangements contemplated by the Loan Documents and that the waivers set forth in Section 2 and this Section 3 are knowingly made in contemplation of such benefits.

 Section 4. Subrogation. Each Guarantor hereby unconditionally and irrevocably agrees not to exercise any rights that
it may now have or hereafter acquire against the Borrowers, any other Loan Party or any other insider guarantor that arise from the existence, payment, performance or enforcement of such Guarantor’s obligations under or in respect of this
Guaranty or any other Loan Document, including, without limitation, any right of subrogation, reimbursement, exoneration, contribution or indemnification and any right to participate in any claim or remedy of any Guaranteed Party against the
Borrowers, any other Loan Party or any other insider guarantor or any collateral, whether or not such claim, remedy or right arises in equity or under contract, statute or common law, including, without limitation, the right to take or receive from
the Borrowers, any other Loan Party or any other insider guarantor, directly or indirectly, in cash or other property or by set-off or in any other manner, payment or security on account of such claim, remedy or right, unless and until all of the
Guaranteed Obligations and all other amounts payable under this Guaranty shall have been paid in full in cash, all Letters of Credit shall have expired or been terminated and the Commitments shall have expired or been terminated. If any amount shall
be paid to any Guarantor in violation of the immediately preceding sentence at any time prior to the latest of (a) the payment in full in cash of the Guaranteed Obligations and all other amounts payable under this Guaranty, (b) the
Termination Date and (c) the latest date of expiration or termination of all Letters of Credit, such amount shall be received and held in trust for the benefit of the Guaranteed Parties, shall be segregated from other property and funds of such
Guarantor and shall forthwith be paid or delivered to the Agent in the same form as so received (with any necessary endorsement or assignment) to be credited and applied to the Guaranteed Obligations and all other amounts payable under this
Guaranty, whether matured or unmatured, in accordance with the terms of the Loan Documents, or to be held as collateral for any Guaranteed Obligations or other amounts payable under this Guaranty thereafter arising. If (i) any Guarantor shall
make payment to any Guaranteed Party of all or any part of the Guaranteed Obligations, (ii) all of the Guaranteed Obligations and all other amounts payable under this Guaranty shall have been paid in full in cash, (iii) the Termination
Date shall have occurred and (iv) all Letters of Credit shall have expired or been terminated, the Guaranteed 
  

 4 

 
Parties will, at such Guarantor’s request and expense, execute and deliver to such Guarantor appropriate documents, without recourse and without representation or warranty, necessary to
evidence the transfer by subrogation to such Guarantor of an interest in the Guaranteed Obligations resulting from such payment made by such Guarantor pursuant to this Guaranty. 

Section 5. Payments Free and Clear of Taxes, Etc. (a) Any and all payments made by any Guarantor under or in respect of this Guaranty or
any other Loan Document shall be made, in accordance with Section 2.14 of the Credit Agreement, free and clear of and without deduction for any and all present or future Taxes. If any Guarantor shall be required by law to deduct any Taxes from
or in respect of any sum payable under or in respect of this Guaranty or any other Loan Document to any Guaranteed Party, (i) the sum payable by such Guarantor shall be increased as may be necessary so that after such Guarantor and the Agent
have made all required deductions (including deductions applicable to additional sums payable under this Section 5), such Guaranteed Party receives an amount equal to the sum it would have received had no such deductions been made,
(ii) such Guarantor shall make all such deductions and (iii) such Guarantor shall pay the full amount deducted to the relevant taxation authority or other authority in accordance with applicable law. 

(b) In addition, each Guarantor agrees to pay any present or future Other Taxes that arise from any payment made by or on behalf of such
Guarantor under or in respect of this Guaranty or any other Loan Document or from the execution, delivery or registration of, performance under, or otherwise with respect to, this Guaranty and the other Loan Documents. 

(c) Each Guarantor will indemnify each Guaranteed Party for and hold it harmless against the full amount of Taxes and Other Taxes, and
for the full amount of taxes of any kind imposed by any jurisdiction on amounts payable under this Section 5, imposed on or paid by such Guaranteed Party and any liability (including penalties, additions to tax, interest and expenses) arising
therefrom or with respect thereto. This indemnification shall be made within 30 days from the date such Guaranteed Party makes written demand therefor. 

(d) The obligations of each Guarantor under this Section are subject in all respects to the limitations, qualifications and satisfaction
of conditions set forth in Section 2.14 of the Credit Agreement. Without limitation of the foregoing, the Guaranteed Parties are subject to the obligations set forth in Section 2.14 of the Credit Agreement to the same extent as if set forth herein.

 Section 6. Representations and Warranties. Each Guarantor hereby makes each representation and warranty made in the
Loan Documents by the Borrowers with respect to such Guarantor and each Guarantor hereby further represents and warrants as follows: 

(a) There are no conditions precedent to the effectiveness of this Guaranty that have not been satisfied or waived.

 (b) Such Guarantor has, independently and without reliance upon any Guaranteed Party and based on such
documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Guaranty and each other Loan Document to which it is or is to be a party, and such Guarantor has

  

 5 

 
established adequate means of obtaining from each other Loan Party on a continuing basis information pertaining to, and is now and on a continuing basis will be completely familiar with, the
business, condition (financial or otherwise), operations, performance, properties and prospects of such other Loan Party. 

Section 7. Covenants. Each Guarantor covenants and agrees that, so long as any part of the Guaranteed Obligations shall remain
unpaid, any Letter of Credit shall be outstanding or any Lender shall have any Commitment, such Guarantor will perform and observe, and cause each of its Subsidiaries to perform and observe, all of the terms, covenants and agreements set forth in
the Loan Documents on its or their part to be performed or observed or that the Borrowers have agreed to cause such Guarantor or such Subsidiaries to perform or observe. 

Section 8. Amendments, Guaranty Supplements, Etc. (a) No amendment or waiver of any provision of this Guaranty and no consent to any
departure by any Guarantor therefrom shall in any event be effective unless the same shall be in writing and signed by the Agent and the Required Lenders, and then such waiver or consent shall be effective only in the specific instance and for the
specific purpose for which given. 
 (b) Upon the execution and delivery by any Person of a guaranty supplement in substantially
the form of Exhibit A hereto (each, a “Guaranty Supplement”), (i) such Person shall be referred to as an “Additional Guarantor” and shall become and be a Guarantor hereunder, and each reference in
this Guaranty to a “Guarantor” shall also mean and be a reference to such Additional Guarantor, and each reference in any other Loan Document to a “Subsidiary Guarantor” shall also mean and be a
reference to such Additional Guarantor, and (ii) each reference herein to “this Guaranty”, “hereunder”, “hereof” or words of like import referring to this Guaranty, and
each reference in any other Loan Document to the “Subsidiary Guaranty”, “thereunder”, “thereof” or words of like import referring to this Guaranty, shall mean and be a reference
to this Guaranty as supplemented by such Guaranty Supplement. 
 Section 9. Notices, Etc. All notices and other
communications provided for hereunder shall be in writing (including telegraphic or telecopier communication) and mailed, telegraphed, telecopied or delivered to it, if to any Guarantor, addressed to it in care of the Company at the Company’s
address specified in Section 9.02 of the Credit Agreement, if to any Agent or any Lender, at its address specified in Section 9.02 of the Credit Agreement, or, as to any party, at such other address as shall be designated by such party in
a written notice to each other party. All such notices and other communications shall, when mailed, telegraphed or telecopied, be effective when deposited in the mails, delivered to the telegraph company or transmitted by telecopier, respectively.
Delivery by telecopier of an executed counterpart of a signature page to any amendment or waiver of any provision of this Guaranty or of any Guaranty Supplement to be executed and delivered hereunder shall be effective as delivery of an original
executed counterpart thereof. 
 Section 10. No Waiver; Remedies. No failure on the part of any Guaranteed Party to
exercise, and no delay in exercising, any right hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right hereunder preclude any other or further exercise thereof or the exercise of any other right. The
remedies herein provided are cumulative and not exclusive of any remedies provided by law. 
  

 6 

 Section 11. Right of Set-off. Upon (a) the occurrence and during the continuance
of any Event of Default and (b) the making of the request or the granting of the consent specified by Section 6.01 of the Credit Agreement to authorize the Agent to declare the Notes due and payable pursuant to the provisions of said
Section 6.01, the Agent and each Lender and each of their respective Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time
or demand, provisional or final) at any time held and other indebtedness at any time owing by the Agent, such Lender or such Affiliate to or for the credit or the account of any Guarantor against any and all of the obligations of such Guarantor now
or hereafter existing under the Loan Documents, irrespective of whether the Agent or such Lender shall have made any demand under this Guaranty or any other Loan Document and although such obligations may be unmatured. The Agent and each Lender
agrees promptly to notify such Guarantor after any such set-off and application; provided, however, that the failure to give such notice shall not affect the validity of such set-off and application. The rights of the Agent and each
Lender and their respective Affiliates under this Section are in addition to other rights and remedies (including, without limitation, other rights of set-off) that the Agent, such Lender and their respective Affiliates may have. 

Section 12. Indemnification. (a) Without limitation on any other obligations of any Guarantor or remedies of the Guaranteed
Parties under this Guaranty, each Guarantor shall, to the fullest extent permitted by law, indemnify, defend and save and hold harmless each Guaranteed Party and each of their Affiliates and their respective officers, directors, employees, agents
and advisors (each, an “Indemnified Party”) from and against, and shall pay on demand, any and all claims, damages, losses, liabilities and expenses (including, without limitation, reasonable fees and expenses of counsel)
that may be incurred by or asserted or awarded against any Indemnified Party in connection with or as a result of any failure of any Guaranteed Obligations to be the legal, valid and binding obligations of any Loan Party enforceable against such
Loan Party in accordance with their terms. 
 (b) Each Guarantor hereby also agrees that none of the Indemnified Parties shall
have any liability (whether direct or indirect, in contract, tort or otherwise) to any of the Guarantors or any of their respective Affiliates or any of their respective officers, directors, employees, agents and advisors, and each Guarantor hereby
agrees not to assert any claim against any Indemnified Party on any theory of liability, for special, indirect, consequential or punitive damages arising out of or otherwise relating to the Facilities, the actual or proposed use of the proceeds of
the Advances or the Letters of Credit, the Loan Documents or any of the transactions contemplated by the Loan Documents. 
 (c)
Without prejudice to the survival of any of the other agreements of any Guarantor under this Guaranty or any of the other Loan Documents, the agreements and obligations of each Guarantor contained in Section 1(a) (with respect to enforcement
expenses), the last sentence of Section 2, Section 5 and this Section 12 shall survive the payment in full of the Guaranteed Obligations and all of the other amounts payable under this Guaranty. 

Section 13. Subordination. Each Guarantor hereby subordinates any and all debts, liabilities and other obligations owed to such
Guarantor by each other Loan Party (the 
  

 7 

 
“Subordinated Obligations”) to the Guaranteed Obligations to the extent and in the manner hereinafter set forth in this Section 13: 

(a) Prohibited Payments, Etc. Except during the continuance of an Event of Default (including the commencement and
continuation of any proceeding under any Bankruptcy Law relating to any other Loan Party), each Guarantor may receive regularly scheduled payments from any other Loan Party on account of the Subordinated Obligations. After the occurrence and during
the continuance of any Event of Default (including the commencement and continuation of any proceeding under any Bankruptcy Law relating to any other Loan Party), however, unless the Agent otherwise agrees, no Guarantor shall demand, accept or take
any action to collect any payment on account of the Subordinated Obligations. 
 (b) Prior Payment of
Guaranteed Obligations. In any proceeding under any Bankruptcy Law relating to any other Loan Party, each Guarantor agrees that the Guaranteed Parties shall be entitled to receive payment in full in cash of all Guaranteed Obligations (including
all interest and expenses accruing after the commencement of a proceeding under any Bankruptcy Law, whether or not constituting an allowed claim in such proceeding (“Post Petition Interest”)) before such Guarantor receives
payment of any Subordinated Obligations. 
 (c) Turn-Over. After the occurrence and during the
continuance of any Event of Default (including the commencement and continuation of any proceeding under any Bankruptcy Law relating to any other Loan Party), each Guarantor shall, if the Agent so requests, collect, enforce and receive payments on
account of the Subordinated Obligations as trustee for the Guaranteed Parties and deliver such payments to the Agent on account of the Guaranteed Obligations (including all Post Petition Interest), together with any necessary endorsements or other
instruments of transfer, but without reducing or affecting in any manner the liability of such Guarantor under the other provisions of this Guaranty. 

(d) Administrative Agent Authorization. After the occurrence and during the continuance of any Event of Default
(including the commencement and continuation of any proceeding under any Bankruptcy Law relating to any other Loan Party), the Agent is authorized and empowered (but without any obligation to so do), in its discretion, (i) in the name of each
Guarantor, to collect and enforce, and to submit claims in respect of, Subordinated Obligations and to apply any amounts received thereon to the Guaranteed Obligations (including any and all Post Petition Interest), and (ii) to require each
Guarantor (A) to collect and enforce, and to submit claims in respect of, Subordinated Obligations and (B) to pay any amounts received on such obligations to the Agent for application to the Guaranteed Obligations (including any and all Post
Petition Interest). 
 Section 14. Continuing Guaranty; Assignments under the Credit Agreement. This Guaranty is a
continuing guaranty and shall (a) remain in full force and effect until the latest of (i) the payment in full in cash of the Guaranteed Obligations and all other amounts payable under this Guaranty, (ii) the Termination Date and
(iii) the latest date of expiration or termination of all Letters of Credit, (b) be binding upon the Guarantor, its successors and assigns and 

 

 8 

 
(c) inure to the benefit of and be enforceable by the Guaranteed Parties and their successors, transferees and assigns. Without limiting the generality of clause (c) of the immediately
preceding sentence, any Guaranteed Party may assign or otherwise transfer all or any portion of its rights and obligations under the Credit Agreement (including, without limitation, all or any portion of its Commitments, the Advances owing to it and
the Note or Notes held by it) to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to such Guaranteed Party herein or otherwise, in each case as and to the extent provided in
Section 9.07 of the Credit Agreement. No Guarantor shall have the right to assign its rights hereunder or any interest herein without the prior written consent of the Guaranteed Parties. 

Section 15. Execution in Counterparts. This Guaranty and each amendment, waiver and consent with respect hereto may be executed in
any number of counterparts and by different parties thereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Delivery of an
executed counterpart of a signature page to this Guaranty by telecopier shall be effective as delivery of an original executed counterpart of this Guaranty. 

Section 16. Governing Law; Jurisdiction; Waiver of Jury Trial, Etc. (a) This Guaranty shall be governed by, and construed in
accordance with, the laws of the State of New York. 
 (b) Each Guarantor hereby irrevocably and unconditionally submits,
for itself and its property, to the nonexclusive jurisdiction of any New York State court or federal court of the United States of America sitting in New York City, and any appellate court from any thereof, in any action or proceeding
arising out of or relating to this Guaranty or any of the other Loan Documents to which it is or is to be a party, or for recognition or enforcement of any judgment, and each Guarantor hereby irrevocably and unconditionally agrees that all claims in
respect of any such action or proceeding may be heard and determined in any such New York State court or, to the extent permitted by law, in such federal court. Each Guarantor agrees that a final judgment in any such action or proceeding shall be
conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Guaranty or any other Loan Document shall affect any right that any party may otherwise have to bring any action or
proceeding relating to this Guaranty or any other Loan Document in the courts of any jurisdiction. 
 (c) Each Guarantor
irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection that it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Guaranty
or any of the other Loan Documents to which it is or is to be a party in any New York State or federal court. Each Guarantor hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the
maintenance of such suit, action or proceeding in any such court. 
 (d) EACH GUARANTOR HEREBY IRREVOCABLY WAIVES ALL RIGHT TO
TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO ANY OF THE LOAN DOCUMENTS, THE ADVANCES OR THE ACTIONS OF ANY GUARANTEED PARTY IN THE NEGOTIATION, ADMINISTRATION,
PERFORMANCE OR ENFORCEMENT THEREOF. 
  

 9 

 IN WITNESS WHEREOF, each Guarantor has caused this Guaranty to be duly executed and
delivered by its officer thereunto duly authorized as of the date first above written. 
  

			
	[NAME OF GUARANTOR]
		
	By	 	 
		 	Title:
	
	[NAME OF GUARANTOR]
		
	By	 	 
		 	Title:

  

 10 

 Exhibit A 

To The 

Subsidiary Guaranty 

FORM OF SUBSIDIARY GUARANTY SUPPLEMENT 

                    , 200_

 Citicorp North America, Inc., as Agent 

Two Penns Way 
 New Castle, DE 19720 

Attention: Bank Loan Syndications Department 

Credit Agreement dated as of August 24, 2004 among 

The Lubrizol Corporation, an Ohio corporation, the Lenders 

party to the Credit Agreement, 

and Citicorp North America, Inc., as Administrative Agent 

Ladies and Gentlemen: 

Reference is made to the above-captioned Credit Agreement and to the Subsidiary Guaranty referred to therein (such Subsidiary Guaranty,
as in effect on the date hereof and as it may hereafter be amended, supplemented or otherwise modified from time to time, together with this Guaranty Supplement, being the “Subsidiary Guaranty”). The capitalized terms defined
in the Subsidiary Guaranty or in the Credit Agreement and not otherwise defined herein are used herein as therein defined. 

Section 1. Guaranty; Limitation of Liability. (a) The undersigned hereby absolutely, unconditionally and irrevocably guarantees the
punctual payment when due, whether at scheduled maturity or on any date of a required prepayment or by acceleration, demand or otherwise, of all obligations of each other Loan Party now or hereafter existing under or in respect of the Loan Documents
(including, without limitation, any extensions, modifications, substitutions, amendments or renewals of any or all of the foregoing obligations), whether direct or indirect, absolute or contingent, and whether for principal, interest, premium, fees,
indemnities, contract causes of action, costs, expenses or otherwise (such obligations being the “Guaranteed Obligations”), and agrees to pay any and all expenses (including, without limitation, the reasonable fees and
expenses of counsel) incurred by the Agent or any other Guaranteed Party in enforcing any rights under this Guaranty Supplement, the Subsidiary Guaranty or any other Loan Document. Without limiting the generality of the foregoing, the
undersigned’s liability shall extend to all amounts that constitute part of the Guaranteed Obligations and would be owed by any other Loan Party to any Guaranteed Party under or in respect of the Loan Documents but for the fact that they are
unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding involving such other Loan Party. 

 (b) The undersigned, and by its acceptance of this Guaranty Supplement, the Agent and each
other Guaranteed Party, hereby confirms that it is the intention of all such Persons that this Guaranty Supplement, the Subsidiary Guaranty and the obligations of the undersigned hereunder and thereunder not constitute a fraudulent transfer or
conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar foreign, federal or state law to the extent applicable to this Guaranty Supplement, the Subsidiary Guaranty and the
obligations of the undersigned hereunder and thereunder. To effectuate the foregoing intention, the Agent, the other Guaranteed Parties and the undersigned hereby irrevocably agree that the obligations of the undersigned under this Guaranty
Supplement and the Subsidiary Guaranty at any time shall be limited to the maximum amount as will result in the obligations of the undersigned under this Guaranty Supplement and the Subsidiary Guaranty not constituting a fraudulent transfer or
conveyance. 
 (c) The undersigned hereby unconditionally and irrevocably agrees that in the event any payment shall be required
to be made to any Guaranteed Party under this Guaranty Supplement, the Subsidiary Guaranty or any other guaranty, the undersigned will contribute, to the maximum extent permitted by applicable law, such amounts to each other Guarantor and each other
guarantor so as to maximize the aggregate amount paid to the Guaranteed Parties under or in respect of the Loan Documents. 

(d) Notwithstanding any other provisions of the Credit Agreement, the Guaranty or this Guaranty Supplement, stock or other equity
interests of a foreign entity directly held by the undersigned shall not serve as security or collateral for any or all of the Guaranteed Obligations, other than stock or other equity interests of any such foreign entity representing no more than
66% of the total combined voting power of all classes of stock or other equity interests of such foreign entity entitled to vote. 

Section 2. Obligations Under the Guaranty. The undersigned hereby agrees, as of the date first above written, to be bound as a
Guarantor by all of the terms and conditions of the Subsidiary Guaranty to the same extent as each of the other Guarantors thereunder. The undersigned further agrees, as of the date first above written, that each reference in the Subsidiary Guaranty
to an “Additional Guarantor” or a “Guarantor” shall also mean and be a reference to the undersigned, and each reference in any other Loan Document to a “Subsidiary Guarantor” or
a “Loan Party” shall also mean and be a reference to the undersigned. 
 Section 3. Representations
and Warranties. The undersigned hereby makes each representation and warranty set forth in Section 6 of the Subsidiary Guaranty to the same extent as each other Guarantor. 

Section 4. Delivery by Telecopier. Delivery of an executed counterpart of a signature page to this Guaranty Supplement by
telecopier shall be effective as delivery of an original executed counterpart of this Guaranty Supplement. 
  

 2 

 Section 5. Governing Law; Jurisdiction; Waiver of Jury Trial, Etc. (a) This
Guaranty Supplement shall be governed by, and construed in accordance with, the laws of the State of New York. 
 (b) The
undersigned hereby irrevocably and unconditionally submits, for itself and its property, to the nonexclusive jurisdiction of any New York State court or any federal court of the United States of America sitting in New York City, and any
appellate court from any thereof, in any action or proceeding arising out of or relating to this Guaranty Supplement, the Subsidiary Guaranty or any of the other Loan Documents to which it is or is to be a party, or for recognition or enforcement of
any judgment, and the undersigned hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in any such New York State court or, to the extent permitted by law, in such
federal court. The undersigned agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Guaranty
Supplement or the Subsidiary Guaranty or any other Loan Document shall affect any right that any party may otherwise have to bring any action or proceeding relating to this Guaranty Supplement, the Subsidiary Guaranty or any of the other Loan
Documents to which it is or is to be a party in the courts of any other jurisdiction. 
 (c) The undersigned irrevocably and
unconditionally waives, to the fullest extent it may legally and effectively do so, any objection that it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Guaranty Supplement, the
Subsidiary Guaranty or any of the other Loan Documents to which it is or is to be a party in any New York State or federal court. The undersigned hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient
forum to the maintenance of such suit, action or proceeding in any such court. 
 (d) THE UNDERSIGNED HEREBY IRREVOCABLY WAIVES
ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO ANY OF THE LOAN DOCUMENTS, THE ADVANCES OR THE ACTIONS OF ANY GUARANTEED PARTY IN THE NEGOTIATION,
ADMINISTRATION, PERFORMANCE OR ENFORCEMENT THEREOF. 
  

			
	Very truly yours,
	
	[NAME OF ADDITIONAL GUARANTOR]
		
	By	 	 
		 	Title:

  

 3Form of Amended and Restated 2005 Incentive Plan 2010-2012 Cash Based Award

 Exhibit 10.1 

ACCO BRANDS CORPORATION 

AMENDED AND RESTATED 2005 INCENTIVE PLAN 

2010 – 2012 CASH-BASED AWARD AGREEMENT 

THIS AGREEMENT is made, entered into and effective this
                , 2010 (the “Grant Date”) by and between ACCO Brands Corporation, a Delaware corporation (collectively with all Subsidiaries, the
“Company”) and                  (“Grantee”). 

WHEREAS, Grantee is a Key Employee of the Company and in compensation for Grantee’s services and Grantee’s agreement to certain
employment and post-employment covenants, the Board deems it advisable to grant to Grantee a Cash-Based Award payable in cash, pursuant to the Amended and Restated ACCO Brands Corporation 2005 Incentive Plan (“Plan”), which may be
earned and vested by Grantee upon Grantee’s continuous service and the satisfaction of performance objectives as set forth herein. 

NOW THEREFORE, subject to the terms and conditions set forth herein: 

1. Plan Governs; Capitalized Terms. This Agreement is made pursuant to the Plan, and the terms of the Plan are incorporated into
this Agreement, except as otherwise specifically stated herein. Capitalized terms used in this Agreement that are not defined in this Agreement shall have the meanings as used or defined in the Plan. References in this Agreement to any specific Plan
provision shall not be construed as limiting the applicability of any other Plan provision. 
 2. Award. The Company
hereby grants to Grantee on the Grant Date an Award payable in cash at Target, or such lesser or greater cash amount, as may be earned upon the attainment of applicable performance objectives set forth in Schedule I attached hereto and made a
part hereof, during the 2010, 2011 and 2012 fiscal years (each fiscal year a “Performance Period”) as follows: 
  

			
	 Performance Period
	  	Amount of Award That May Be
Earned At Target
	 2010
	  	$
	 2011
	  	$                    
	 2012
	  	$                    

This Award shall be earned and vested in accordance with Section 3 and shall be payable to Grantee in accordance with
Section 4. Until the Award is paid (if payable), Grantee shall have the status of a general unsecured creditor of the Company. THIS AWARD IS CONDITIONED ON GRANTEE SIGNING THIS AGREEMENT AND

 
RETURNING IT TO THE COMPANY BY                 , 2010 AND IS SUBJECT TO ALL TERMS, CONDITIONS AND PROVISIONS
OF THE PLAN AND THIS AGREEMENT, INCLUDING, WITHOUT LIMITATION, CERTAIN COVENANTS SET FORTH ON ATTACHMENT A HERETO THAT APPLY DURING, AND FOLLOWING A TERMINATION OF, GRANTEE’S EMPLOYMENT FOR ANY REASON. FOR PURPOSES OF ATTACHMENT
A, GRANTEE’S SECTION 4.1 RESTRICTION SHALL BE FOR          MONTHS AND GRANTEE’S SECTION 4.2 RESTRICTION SHALL BE FOR          MONTHS, EXCEPT AS GRANTEE AND
THE CHIEF EXECUTIVE OFFICER (AND SHOULD THE CHIEF EXECUTIVE OFFICER BE THE GRANTEE, THE COMPENSATION COMMITTEE OF THE BOARD) MAY OTHERWISE AGREE IN WRITING. 

3. Vesting. 

(a) Generally. The Performance Periods set forth in Schedule I shall commence on January 1 and end on December 31
of the 2010, 2011 and 2012 fiscal years, respectively. Subject to acceleration of the vesting of the Award pursuant to Section 3(b) or 3(f), or the forfeiture and termination of the Award pursuant to Sections 3(e) or
4(c), the Award shall be wholly or partially earned and vested and become nonforfeitable for a Performance Period to the extent of the attainment of the performance objectives for such Performance Period set forth in Schedule I,
provided that Grantee has been continuously employed by the Company through December 31, 2012 (except as provided in Section 3(c), 3(d) and 3(f)(ii)). 

(b) Death; Disability. Upon the death of Grantee while employed by the Company, or Grantee’s separation from service from the
Company and all members of the Company controlled group (within the meaning of Treasury Regulation Sections 1.409A-1(g) and (h)) (“Separation from Service”) due to his Disability, in either such case before December 31, 2012,
an amount of the Award shall become earned and vested equal to the sum of: 
 (i) the amount of the Award, if
any, that has been earned, based on the attainment of the applicable performance objectives set forth in Schedule I, during such of the 2010 and 2011 Performance Periods as have been completed on or prior to the date of Grantee’s death
or Separation from Service; plus 
 (ii) an amount of the Award as would have become earned and vested, based on
the deemed attainment of a target-level of performance set forth in Schedule I, for such of the incomplete Performance Period in which such death or Separation from Service occurs and any Performance Periods that had not yet commenced by the
date of the Grantee’s death or Separation from Service. 
 Grantee shall forfeit any amount of the Award not becoming
earned and vested under Section 3(b)(i) and 3(b)(ii) upon Grantee’s death or Separation from Service. 
  

 2 

 (c) Retirement. Upon Grantee’s Separation from Service due to his Retirement
before December 31, 2012, an amount of the Award shall become earned and vested equal to the sum of: 
 (i)
the amount of the Award, if any, that has been earned, based on the attainment of the applicable performance objectives set forth in Schedule I, during such of the 2010 and 2011 Performance Periods as have been completed on or prior to
the date of Grantee’s Separation from Service; plus 
 (ii) an amount of the Award, if any, equal to the
product of (A) the fraction the numerator of which is the number of days Grantee was continuously employed from the first day of the Performance Period during which such Separation from Service occurs to the date of Separation from Service and
the denominator of which is 365 (or 366 if occurring during the 2012 Performance Period) (“Pro Rata Portion”) multiplied by (B) the amount of the Award that would have become earned for the Performance Period in which such
Separation from Service occurs, in accordance with the attainment of the performance objectives set forth in Schedule I, had Grantee remained continuously employed to the last day of such Performance Period. 

Grantee shall forfeit any amount of the Award not becoming earned and vested under Section 3(c)(i) and 3(c)(ii) upon
Grantee’s Separation from Service, including for any Performance Period commencing after Grantee’s Separation from Service. 

(d) Involuntary Termination. Upon Grantee’s involuntary Separation from Service by the Company without Cause after
June 30, 2012 and before December 31, 2012 (an “Involuntary Termination”), an amount of the Award shall become earned and vested equal to the sum of: 

(i) the amount of the Award, if any, that has been earned, based on the attainment of the applicable performance
objectives set forth in Schedule I, during each of the 2010 and 2011 Performance Periods; plus 

(ii) an amount of the Award, if any, equal to the product of (A) the Pro Rata Portion multiplied by (B) the
amount of the Award that would have become earned for the 2012 Performance Period, in accordance with the attainment of the performance objectives set forth in Schedule I, had Grantee remained continuously employed to December 31, 2012.

 Grantee shall forfeit any amount of the Award not becoming earned and vested under Section 3(d)(i) and
3(d)(ii) upon Grantee’s Separation from Service. 
 (e) Other Terminations. Upon a termination of
Grantee’s employment for any reason prior to December 31, 2012, other than due to Grantee’s death or his Separation from Service due to Disability, Retirement or an Involuntary Termination, or due to a Divestiture (defined below), all
of the Award shall be immediately forfeited. Any amount of the Award forfeited under this Section 3 shall be cancelled and shall terminate. 
  

 3 

 (f) Change in Control; Divestiture. 

(i) Upon the occurrence of a Change in Control while Grantee is employed by the Company and on or before December 31,
2012, an amount of the Award shall become earned and vested equal to the sum of: 
 (1) the amount of the Award,
if any, that has been earned, based on the attainment of the applicable performance objectives set forth in Schedule I, during such of the 2010 and 2011 Performance Periods as have been completed on or prior to the date of the Change in
Control; plus 
 (2) the amount of the Award that could have become earned, based on the deemed attainment of a
maximum-level of performance set forth in Schedule I, for the Performance Period in which such Change in Control occurs and any Performance Periods that had not yet commenced by the date of the Change in Control. 

Upon the Change in Control, Grantee shall forfeit any amount of the Award not becoming earned and vested under
Section 3(f)(i)(1) and 3(f)(i)(2). 
 (ii) Upon the occurrence of a transaction, before
December 31, 2012, by which the Subsidiary that is Grantee’s principal employer ceases to be a Subsidiary of the Company and Grantee’s employment with the Company and all other Subsidiaries ceases (“Divestiture”), an
amount of the Award shall become earned and vested equal to the sum of: 
 (1) the amount of the Award, if any,
that has been earned, based on the attainment of the applicable performance objectives set forth in Schedule I, during such of the 2010 and 2011 Performance Periods as have been completed on or prior to the date of such Divestiture; plus

 (2) for the incomplete Performance Period in which such Divestiture occurs, the amount of the Award equal to
the product of (A) the fraction the numerator of which is the number of days Grantee was continuously employed from the first day of such Performance Period to the Divestiture Date and the denominator of which is 365 (or 366 if occurring during
the 2012 Performance Period) multiplied by (B) the amount of the Award that would have become earned and vested, based on the deemed attainment of a target-level of performance set forth in Schedule I, for such Performance Period.

 Upon such Divestiture, Grantee shall forfeit any amount of the Award not becoming earned and vested under
Section 3(f)(ii)(1) and 3(f)(ii)(2). 
 (g) Payment on Vesting. To the extent earned and vested, the
Award shall be paid to Grantee as provided in Section 4 hereof. 
  

 4 

 4. Payment of Award. 

(a) Payment. Subject to Sections 4(c) and 7(h)(ii), the Company (or its successor) shall pay to Grantee a cash lump
sum equal to the amount of the Award then earned and vested pursuant to Section 3 upon the attainment (or deemed attainment upon Grantee’s death, Separation from Service due to Disability, the occurrence of a Change in Control, or
the occurrence of a Divestiture) of the performance objectives set forth in Schedule I: 
 (i) As
soon as may be practicable after December 31, 2012, but not later than March 15th, 2013, in any case other as provided in Section 4(a)(ii) or 4(a)(iii); 

(ii) As soon as may be practicable after December 31 of the Performance Period in which Grantee’s Retirement
occurs (or Grantee’s Separation from Service is due to Disability at time when Grantee was eligible for Retirement) but not later than March 15 following such December 31; and 

(iii) Within 60 days following the occurrence of Grantee’s death, Separation from Service due to Disability (except
when Section 4(a)(ii) applies), a Change in Control or a Divestiture. 
 Provided, in the event that the occurrence
of a Change in Control is not a change in the ownership or effective control of the Company or of a substantial portion of the assets of the Company within the meaning of Treasury Regulation Section 1.409A-3(i)(5), or a Divestiture is not a
Separation from Service of Grantee, such issuance of shares shall be postponed until the earliest to occur of (1) such a change in the ownership or effective control of the Company or of a substantial portion of the assets of the Company,
(2) Grantee’s Separation from Service (subject to Section 7(h)(ii)) or (3) the date for payment under Section 4(a)(i). 

If, on the date of payment to Grantee under this Section 4, Grantee’s principal office is located in a country other
than the United States of America and Grantee is paid base salary in a currency other than the U.S. Dollar, payment to Grantee shall be made in the same currency in which Grantee is paid base salary applying the currency exchange rate for such
currency to the U.S. Dollar as determined by the Committee in its sole discretion at the time such payment is made. 
 (b)
Withholding Taxes. At the time of payment of the Award to Grantee, or any earlier such time in which income or employment taxes may become due and payable, the Company shall satisfy the minimum statutory Federal, state and local withholding
tax obligation (including the FICA and Medicare tax obligation) required by law with respect to the payment (or other taxable event) by withholding from the Award the amount of such required withholding. 

(c) Forfeiture Upon Breach of Covenant. The provisions of Section 3 to the contrary notwithstanding, any unpaid amount
of the Award shall be immediately forfeited and cancelled in the event of Grantee’s breach of any covenant set forth SECTION 3, 4.1 or 4.2 of Attachment A in addition to any other remedy set forth at SECTION 7
of Attachment A. 
  

 5 

 5. No Transfer or Assignment of Award. Except as otherwise provided in this
Agreement, the Award and the rights and privileges conferred thereby shall not be sold, pledged or otherwise transferred (whether by operation of law or otherwise) and shall not be subject to sale under execution, attachment, levy or similar process
until the Award is paid to Grantee or his designated representative. 
 6. Grantee Covenants. In consideration of this
Award, Grantee agrees to the covenants, Company remedies for a breach thereof, and other provisions set forth in Attachment A, attached hereto, incorporated into, and being a part of this Agreement. 

7. Miscellaneous Provisions. 

(a) No Retention Rights. Nothing in this Agreement shall confer upon Grantee any right to continue in the employment or service of
the Company for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Company or of Grantee, which rights are hereby expressly reserved by each, to terminate his employment or service at any time and
for any reason, with or without cause. 
 (b) Inconsistency. To the extent any terms and conditions herein conflict with
the terms and conditions of the Plan, the terms and conditions of the Plan shall control. 
 (c) Notices. Any notice
required by the terms of this Agreement shall be given in writing and shall be deemed effective upon personal delivery, upon deposit with the United States Postal Service, by registered or certified mail, with postage and fees prepaid or upon
deposit with a reputable overnight courier. Notice shall be addressed to the Company at its principal executive office and to Grantee at the address that he most recently provided to the Company. 

(d) Entire Agreement; Amendment; Waiver. This Agreement constitutes the entire agreement between the parties hereto with regard to
the subject matter hereof. This Agreement supersedes any other agreements, representations or understandings (whether oral or written and whether express or implied) which relate to the subject matter hereof; provided, if Grantee is bound by any
restrictive covenant contained in a previously-executed agreement with the Company or an Affiliate (as defined in Attachment A), such restrictions shall be read together with Attachment A of this Agreement to provide the Company and
its Affiliates with the greatest amount of protection, and to impose on Grantee the greatest amount of restriction, allowed by law. No alteration or modification of this Agreement shall be valid except by a subsequent written instrument executed by
the parties hereto. No provision of this Agreement may be waived except by a writing executed and delivered by the party sought to be charged. Any such written waiver shall be effective only with respect to the event or circumstance described
therein and not with respect to any other event or circumstance, unless such waiver expressly provides to the contrary. 
 (e)
Choice of Law; Venue; Jury Trial Waiver. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Illinois, as such laws 

 

 6 

 
are applied to contracts entered into and performed in such State, without giving effect to the choice of law provisions thereof. The Company and Grantee stipulate and consent to personal
jurisdiction and proper venue in the state or federal courts of Cook County, Illinois and waive each such party’s right to objection to an Illinois court’s jurisdiction and venue. Grantee and the Company hereby waive their right to jury
trial on any legal dispute arising from or relating to this Agreement, and consent to the submission of all issues of fact and law arising from this Agreement to the judge of a court of competent jurisdiction as otherwise provided for above.

 (f) Successors. 

(i) This Agreement is personal to Grantee and, except as otherwise provided in Section 5 above, shall not be
assignable by Grantee otherwise than by will or the laws of descent and distribution, without the written consent of the Company. This Agreement shall inure to the benefit of and be enforceable by Grantee’s legal representatives. 

(ii) This Agreement shall inure to the benefit of and be binding upon the Company and its Affiliates and the successors
thereof. 
 (g) Severability. If any provision of this Agreement for any reason should be found by any court of competent
jurisdiction to be invalid, illegal or unenforceable, in whole or in part, such declaration shall not affect the validity, legality or enforceability of any remaining provision or portion thereof, which remaining provision or portion thereof shall
remain in full force and effect as if this Agreement had been adopted with the invalid, illegal or unenforceable provision or portion thereof eliminated. 

(h) Section 409A. 

(i) Anything herein to the contrary notwithstanding, this Award Agreement shall be interpreted so as to comply with or
satisfy an exemption from Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively, “Section 409A”). The Committee may in good faith make the minimum of modifications to this
Agreement as it may deem appropriate to comply with Section 409A while to the maximum extent reasonably possible maintaining the original intent and economic benefit to Grantee and the Company of the applicable provision. 

(ii) To the extent required by Section 409A(a)(2)(B)(i), payment of the Award to Grantee, who is a “specified
employee” that is due upon Grantee’s Separation from Service shall be delayed and paid in a lump sum within seven (7) days (and the Company shall have sole discretion to determine the taxable year in which it is paid) after the
earlier of the date that is six (6) months after the date of such Separation from Service or the date of Grantee’s death after such Separation from Service. For purposes hereof, whether Grantee is a “specified employee” shall be
determined in accordance with the default provisions of Treasury Regulation Section 1.409A-1(i), with the “identification date” to be December 31 and the “effective date” to be the April 1 following the
identification date (as such terms are used under such regulation). 
  

 7 

 (i) Headings; Interpretation. The headings, captions and arrangements utilized in
this Agreement shall not be construed to limit or modify the terms or meaning of this Agreement. Wherever from the context it appears appropriate, each term stated in either the singular or plural shall include the singular and the plural, and
pronouns stated in the masculine, feminine or neuter gender shall include the masculine, the feminine and the neuter. 
 (j)
Counterparts. This Agreement may be executed simultaneously in one or more counterparts, each of which shall be deemed an original, but all of which shall constitute but one and the same instrument. 

[Signature Page Follows] 
  

 8 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement the date and year first
written above. 
  

			
	ACCO BRANDS CORPORATION
		
	By:	 	
		
	Name:	 	
		
	Its:	 	
	
	  

	Grantee Name
	
	  

	Grantee Signature

  

 9 

 SCHEDULE I 

Performance Objectives for the 2010, 2011 and 2012 Performance Periods 

 

							
	 	  	Percentage Of
Award That May
Be Earned Each
Performance
Period	 	 Percentage of Award Earned
at Performance
Levels
	  	 Performance Objective

				
		  		 	 50%

(Threshold)
	  	
	2010	  	33 1/3 %	 	 100%

(Target)
	  	
		  		 	 150%

(Maximum)
	  	
				
		  		 	 50%

(Threshold)
	  	2011 performance objectives to be determined by the Committee by March 31, 2011 and provided to Grantee, at which time, this Schedule I shall be deemed modified
accordingly.
	2011	  	33 1/3%	 	 100%

(Target)
	  
		  		 	 150%

(Maximum)
	  
				
		  		 	 50%

(Threshold)
	  	2012 performance objectives to be determined by the Committee by March 30, 2012 and provided to Grantee, at which time, this Schedule I shall be deemed modified
accordingly.
	2012	  	33 1/3%	 	 100%

(Target)
	  
		  		 	 150%

(Maximum)
	  

 Provided, the cash amount of the Award earned during each Performance Period
shall be interpolated on a linear basis for the attainment of performance objectives for such Performance Period between Threshold and Target and between Target and Maximum. 

 ATTACHMENT A 

Grantee Covenants 

SECTION 1 Position of Special Trust and Confidence. 

1.1 The Company is placing Grantee in a special position of trust and confidence. As a result of this Agreement and Grantee’s
position with the Company, Grantee will receive Confidential Information (defined below) related to his position, authorization to communicate and develop goodwill with Company customers, and/or specialized training related to the Company’s
business. Grantee agrees to use these advantages of employment to further the business of the Company and not to knowingly cause harm to the business of the Company. The Company’s agreement to provide Grantee with these benefits, and the Award
hereunder, gives rise to an interest in reasonable restrictions on Grantee’s competitive and post-employment conduct. 

1.2 Grantee shall dedicate his full working time and efforts to the business of the Company and shall not undertake or prepare to
undertake any conflicting business activities while employed with the Company. These duties supplement and do not replace or diminish the common law duties Grantee would ordinary have to the Company as the employer. 

SECTION 2 Consideration. In exchange for Grantee’s promises and obligations herein, the Company is granting Grantee the Award
hereunder. The Company also agrees to provide Grantee with portions of its Confidential Information, authorization to communicate and develop goodwill with the Company customers, and/or specialized training related to the Company’s business.
Grantee understands and agrees that the foregoing promises and benefits have material value and benefit to the Company, above and beyond any continuation of Company employment, and that Grantee would not be entitled to such consideration unless he
signs and agrees to be bound by this Attachment A. The Company agrees to provide Grantee the consideration described in this SECTION 2 only in exchange for his compliance with all the terms of this Attachment A. 

SECTION 3 Confidentiality and Business Interests. 

3.1 Grantee agrees to keep secret and confidential and neither use nor disclose, by any means, either during or after a termination of his
employment for any reason, any Confidential Information except as provided below or required in his employment with, or authorized in writing by, the Company. Grantee agrees to keep confidential and not disclose or use, either during or after a
termination of his employment for any reason, any confidential information or trade secrets of others which Grantee receives during the course of his employment with the Company for so long as and to the same extent as the Company is obligated to
retain such information or trade secrets in confidence. 
 3.2 The obligations under this SECTION 3 shall not apply to
Confidential Information to the extent that it: (a) is or becomes publicly known by means other than Grantee’s failure to perform his obligations under this Attachment A; (b) was known to Grantee prior to disclosure to Grantee
by or on behalf of the Company and Grantee; or (c) is received by Grantee in good faith from a third party (not an Affiliate) which has no obligation of 

 
confidentiality to the Company with respect thereto. Notwithstanding anything contained herein to the contrary, Confidential Information shall not lose its protected status under this
Attachment A if it becomes generally known to the public or to other persons through improper means. The Company’s confidential exchange of Confidential Information with a third party for business purposes shall not remove it from
protection under this Attachment A. 
 3.3 If disclosure of Confidential Information is compelled by law, Grantee shall
give the Company as much written notice as possible under the circumstances, shall refrain from use or disclosure for as long as the law allows, and shall cooperate with the Company to protect such information, including taking every reasonable step
necessary to protect against unnecessary disclosure. 
 3.4 Grantee agrees not to disclose to the Company nor to utilize in
Grantee’s work for the Company any confidential information or trade secrets of others known to Grantee and obtained prior to Grantee’s employment by the Company (including prior employers). 

3.5 Grantee shall deliver to the Company promptly upon the end of Grantee’s employment all written and other materials which
constitute or contain Confidential Information or which are the property of the Company (regardless of media), and shall not remove, erase, destroy, impede the Company’s access to, or take any such written and other materials. Grantee shall
preserve records on the Company customers, prospects, vendors, suppliers, and other business relationships, and shall not knowingly use these records to harm the Company’s business interests. Upon termination of Grantee’s employment,
Grantee shall return all such records, and any copies (tangible and intangible) to the Company. The Company is only authorizing Grantee to access and use the Company’s computers, email, or related computer systems to pursue matters that are
consistent with the Company’s business interests. Access or use of such systems to pursue personal business interests apart from the Company, to compete or to prepare to compete, or to otherwise knowingly undermine the Company’s interests
(such as, by way of example, removing, erasing, impeding the Company’s access to, or destroying its records or programs) is strictly prohibited and outside the scope of Grantee’s authorized use of the Company’s systems. 

SECTION 4 Non-Interference Covenants. Grantee agrees that the following covenants are (a) ancillary to the other
enforceable agreements contained in this Attachment A, and (b) reasonable and necessary to protect the Company’s legitimate business interests. 

4.1 Restriction on Interfering with Employee Relationships. Grantee agrees that for the period of time, set forth as the
“SECTION 4.1 Restriction” in Section 2 of the Agreement, following the end of his employment with the Company for any reason, Grantee shall not interfere with the Company’s business relationship with any Company
employee, by soliciting or communicating with such an employee to induce or encourage him to leave the Company’s employ (regardless of who initiates the communication), by helping another person or entity evaluate a Company employee as an
employment candidate, or by otherwise helping any person or entity hire an employee away from the Company. 
 4.2 Restriction
on Interfering with Customer Relationships. Grantee agrees that for the period of time, set forth as the “SECTION 4.2 Restriction” in Section 2 of the Agreement,

  

 A-2 

 
following the end of his employment with the Company for any reason, Grantee shall not interfere with the Company’s business relationships with a Covered Customer, by: (a) participating
in, supervising, or managing (as an employee, consultant, contractor, officer, owner, director, or otherwise) any Competing Activities for, on behalf of, or with respect to a Covered Customer; or (b) soliciting or communicating (regardless of
who initiates the communication) with a Covered Customer to induce or encourage the Covered Customer to: (i) stop or reduce doing business with the Company, or (ii) to buy a Conflicting Product or Service. 

4.3 Notice and Survival of Restrictions. 

(a) Before accepting new employment, Grantee shall advise every future employer of the restrictions in this Attachment A. Grantee
agrees that the Company may advise a future employer or prospective employer of this Attachment A and its position on the potential application of this Attachment A. 

(b) This Attachment A’s post-employment obligations shall survive the termination of Grantee’s employment with the
Company for any reason. If Grantee violates one of the post-employment restrictions in this Attachment A on which there is a specific time limitation, the time period for that restriction shall be extended by one day for each day Grantee
violates it, up to a maximum extension equal to the length of time prescribed for the restriction, so as to give the Company the full benefit of the bargained-for length of forbearance. 

(c) It is the intention of the Parties that, if any court construes any provision or clause of this Attachment A, or any portion
thereof, to be illegal, void or unenforceable, because of the duration of such provision, the scope or the subject matter covered thereby, such court shall reduce the duration, scope, or subject matter of such provision, and, in its reduced form,
such provision shall then be enforceable and shall be enforced. 
 (d) If Grantee becomes employed with an Affiliate without
entering into a new nondisclosure, nonsolicitation, noncompetition agreement that is substantially the same as this Attachment A, the Affiliate shall be regarded as the Company for all purposes under this Attachment A, and shall be
entitled to the same protections and enforcement rights as the Company. 
 4.4 California Modification (California Residents
Only). To the extent that Grantee is a resident of California and subject to its laws: (a) the restriction in SECTION 4.2(a) shall not apply; (b) the restriction in SECTION 4.2(b) shall be limited so that it only applies where
Grantee is aided by the use or disclosure of Confidential Information; (c) the restriction in SECTION 4.1 is deemed rewritten to provide as follows: For a period of two (2) years immediately following the termination of Grantee’s
employment with the Company for any reason, Grantee shall not, either directly or indirectly, solicit any of the Company’s employees, with whom Grantee worked at any time during his employment with the Company, to leave their employment with
the Company or to alter their relationship with the Company to the Company’s detriment; and (d) the jury trial waiver in Section 7(e) of the Agreement shall not apply. 

SECTION 5 Definitions. For purposes of the Agreement, the following terms shall have the meanings assigned to them below: 

5.1 “Affiliate” means the Company’s successors in interest, affiliates (as defined in Rule 12b-2 under
Section 12 of the Securities and Exchange Act), subsidiaries, parents, purchasers, and assignees (collectively “Affiliates”). 
  

 A-3 

 5.2 “Competing Activities” are any activities or services undertaken on
behalf of a Competitor that are the same or similar in function or purpose to those Grantee performed for the Company in the two (2) year period preceding the end of Grantee’s employment with the Company, or that are otherwise likely to
result in the use or disclosure of Confidential Information. Competing Activities are understood to exclude: activities on behalf of an independently operated subsidiary, division, or unit of a diversified corporation or similar business that has
common ownership with a competitor so long as the independently operated business unit does not involve a Conflicting Product or Service; and, a passive and non-controlling ownership interest in a competitor through ownership of less than 2% of the
stock in a publicly traded company. 
 5.3 “Confidential Information” includes but is not limited to any
technical or business information, know-how or trade secrets, patentable or not, in any form, including but not limited to data; diagrams; business, marketing or sales plans; notes; drawings; models; prototypes; specifications; manuals; memoranda;
reports; customer or vendor information; pricing or cost information; and computer programs, which are furnished to Grantee by the Company or which Grantee procures or prepares, alone or with others, in the course of his employment with the Company.

 5.4 “Conflicting Product or Service” is a product or service that is the same or similar in function or
purpose to a Company product or service, such that it would replace or compete with: (a) a product or service the Company provides to its customers; or (b) a product or service that is under development or planning by the Company but not
yet provided to customers and regarding which Grantee was provided Confidential Information in the course of employment. Conflicting Products or Services do not include a product or service of the Company if the Company is no longer in the business
of providing such product or service to its customers at the relevant time of enforcement. 
 5.5 “Covered
Customer” is a Company customer (natural person or entity) that Grantee had business-related contact or dealings with, or received Confidential Information about, in the two (2) year period preceding the end of Grantee’s
employment with the Company. References to the end of Grantee’s employment in this Attachment A refer to the end, whether by resignation or termination, and without regard for the reason employment ended. 

5.6 “Competitor” is any person or entity engaged in the business of providing a Conflicting Product or Service.

 5.7 Section references in this Attachment A are to sections of this Attachment A. 

SECTION 6 Notices. While employed by the Company, and for two (2) years thereafter, Grantee shall: (a) give the Company
written notice at least thirty (30) days prior to going to work for a Competitor; (b) provide the Company with sufficient information about his new position to enable the Company to determine if Grantee’s services in the new position
would 
  

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likely lead to a violation of this Attachment A; and (c) within thirty (30) days of any request made by the Company to do so, participate in a mediation or in-person conference
to discuss and/or resolve any issues raised by Grantee’s new position. Grantee shall be responsible for all consequential damages caused by failure to give the Company notice as provided in this SECTION 6. 

SECTION 7 Remedies. If Grantee breaches or threatens to breach this Attachment A, the Company may recover: (a) an order of
specific performance or declaratory relief; (b) injunctive relief by temporary restraining order, temporary injunction, and/or permanent injunction; (c) damages; (d) attorney’s fees and costs incurred in obtaining relief; and
(e) any other legal or equitable relief or remedy allowed by law. One Thousand Dollars ($1,000.00) is the agreed amount for the bond to be posted if an injunction is sought by the Company to enforce the restrictions in this Attachment
A on Grantee. 
 SECTION 8 Return of Consideration. Grantee specifically recognizes and agrees that the covenants set
forth in this Attachment A are material and important terms of this Agreement, and Grantee further agrees that should all or any part or application of SECTION 4.2 be held or found invalid or unenforceable for any reason whatsoever by a court
of competent jurisdiction in an action between Grantee and the Company (despite, and after application of, any applicable rights to reformation that could add or renew enforceability), the Company shall be entitled to receive from Grantee a return
of any and all monies paid to Grantee pursuant to the terms of this Agreement. The return of consideration provided for in this SECTION 8 is in addition to the remedies for breach provided for in SECTION 7. 

 

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