Document:

exv4w1

Exhibit 4.1

EXECUTION VERSION

EASTMAN KODAK COMPANY,

the GUARANTORS party hereto

and

THE BANK OF NEW YORK MELLON,

as Trustee and Second Lien Collateral Agent

INDENTURE

Dated as of September 29, 2009

10.50% Senior Notes Due 2017

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	ARTICLE 1 DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	 	 	1	 
	 
	 	 	 	 
	Section 1.01 Definitions
	 	 	1	 
	Section 1.02 Other Definitions
	 	 	26	 
	Section 1.03 Rules of Construction
	 	 	27	 
	Section 1.04 Incorporation by Reference of TIA
	 	 	27	 
	Section 1.05 Conflict with TIA
	 	 	28	 
	Section 1.06 Compliance Certificates and Opinions
	 	 	28	 
	Section 1.07 Form of Documents Delivered to Trustee
	 	 	28	 
	Section 1.08 Acts of Holders; Record Dates
	 	 	29	 
	Section 1.09 Notices, Etc., to Trustee and Company
	 	 	31	 
	Section 1.10 Notices to Holders; Waivers
	 	 	32	 
	Section 1.11 Effect of Headings and Table of Contents
	 	 	32	 
	Section 1.12 Successors and Assigns
	 	 	32	 
	Section 1.13 Severability Clause
	 	 	32	 
	Section 1.14 Benefits of Indenture
	 	 	32	 
	Section 1.15 Governing Law
	 	 	32	 
	Section 1.16 Legal Holidays
	 	 	33	 
	Section 1.17 No Liability of Directors, Officers, Employees, Incorporators,
Members and Stockholders
	 	 	33	 
	Section 1.18 Exhibits and Schedules
	 	 	33	 
	Section 1.19 Counterparts
	 	 	33	 
	Section 1.20 Waiver of Jury Trial
	 	 	33	 
	Section 1.21 Force Majeure
	 	 	33	 
	 
	 	 	 	 
	ARTICLE 2 NOTE FORMS
	 	 	34	 
	 
	 	 	 	 
	Section 2.01 Forms Generally; Legends
	 	 	34	 
	Section 2.02 Form of Trustee’s Certificate of Authentication
	 	 	35	 
	 
	 	 	 	 
	ARTICLE 3 THE NOTES
	 	 	36	 
	 
	 	 	 	 
	Section 3.01 Title and Terms
	 	 	36	 
	Section 3.02 Denominations
	 	 	37	 
	Section 3.03 Execution, Authentication and Delivery and Dating
	 	 	37	 
	Section 3.04 Temporary Notes
	 	 	38	 
	Section 3.05 Registration, Registration of Transfer and Exchange
	 	 	38	 
	Section 3.06 Mutilated, Destroyed, Lost and Stolen Notes
	 	 	39	 
	Section 3.07 Payment of Interest Rights Preserved
	 	 	40	 
	Section 3.08 Persons Deemed Owners
	 	 	41	 
	Section 3.09 Cancellation
	 	 	41	 
	Section 3.10 Computation of Interest
	 	 	41	 
	Section 3.11 CUSIP Numbers
	 	 	41	 
	Section 3.12 Book-entry Provisions for Global Notes
	 	 	42	 

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TABLE OF CONTENTS

(Continued)

	 	 	 	 	 
	 	 	Page	 
	Section 3.13 Restrictions on Transfer and Exchange
	 	 	43	 
	Section 3.14 Deposit of Moneys
	 	 	44	 
	 
	 	 	 	 
	ARTICLE 4 COVENANTS
	 	 	44	 
	 
	 	 	 	 
	Section 4.01 Payment of Principal, Premium and Interest
	 	 	44	 
	Section 4.02 Maintenance of Office or Agency
	 	 	45	 
	Section 4.03 Money for Payments to Be Held in Trust
	 	 	45	 
	Section 4.04 SEC Reports
	 	 	46	 
	Section 4.05 Certificates to Trustee
	 	 	47	 
	Section 4.06 Limitation on Debt and Disqualified or Preferred Stock
	 	 	47	 
	Section 4.07 Limitation on Restricted Payments
	 	 	51	 
	Section 4.08 Limitation on Dividend and other Payment Restrictions Affecting
Restricted Subsidiaries
	 	 	55	 
	Section 4.09 Limitation on Sales of Assets
	 	 	57	 
	Section 4.10 Limitation on Affiliate Transactions
	 	 	59	 
	Section 4.11 Limitation on Liens
	 	 	60	 
	Section 4.12 Repurchase of Notes upon a Change in Control
	 	 	60	 
	Section 4.13 Limitation on Line of Business
	 	 	61	 
	Section 4.14 Limited Applicability of Covenants when Notes are Rated
Investment-Grade
	 	 	62	 
	Section 4.15 Existence
	 	 	63	 
	Section 4.16 Payment of Taxes and Other Claims
	 	 	63	 
	Section 4.17 Maintenance of Properties and Insurance
	 	 	63	 
	Section 4.18 Additional Guarantors
	 	 	64	 
	Section 4.19 Designation of Restricted and Unrestricted Subsidiaries
	 	 	64	 
	 
	 	 	 	 
	ARTICLE 5 CONSOLIDATION, MERGER OR SALE OF ASSETS
	 	 	66	 
	 
	 	 	 	 
	Section 5.01 Consolidation, Merger or Sale of Assets by the Company
	 	 	66	 
	Section 5.02 Successor Company Substituted
	 	 	67	 
	Section 5.03 Consolidation, Merger or Sale of Assets by a Guarantor
	 	 	67	 
	Section 5.04 Opinion of Counsel to Trustee
	 	 	68	 
	 
	 	 	 	 
	ARTICLE 6 REMEDIES
	 	 	68	 
	 
	 	 	 	 
	Section 6.01 Events of Default
	 	 	68	 
	Section 6.02 Acceleration
	 	 	69	 
	Section 6.03 Other Remedies
	 	 	70	 
	Section 6.04 Waiver of Past Defaults
	 	 	70	 
	Section 6.05 Control by Majority
	 	 	70	 
	Section 6.06 Limitation on Suits
	 	 	71	 
	Section 6.07 Rights of Holders to Receive Payment
	 	 	71	 
	Section 6.08 Collection Suit by Trustee
	 	 	71	 
	Section 6.09 Trustee May File Proofs of Claim
	 	 	72	 

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TABLE OF CONTENTS

(Continued)

	 	 	 	 	 
	 	 	Page	 
	Section 6.10 Priorities
	 	 	72	 
	Section 6.11 Undertaking for Costs
	 	 	73	 
	Section 6.12 Restoration of Rights and Remedies
	 	 	73	 
	Section 6.13 Rights and Remedies Cumulative
	 	 	73	 
	Section 6.14 Waiver of Stay, Extension or Usury Laws
	 	 	73	 
	 
	 	 	 	 
	ARTICLE 7 THE TRUSTEE
	 	 	73	 
	 
	 	 	 	 
	Section 7.01 Certain Duties and Responsibilities
	 	 	73	 
	Section 7.02 Notice of Defaults
	 	 	74	 
	Section 7.03 Certain Rights of Trustee
	 	 	75	 
	Section 7.04 Not Responsible for Recitals or Issuance of Notes
	 	 	76	 
	Section 7.05 Trustee’s Disclaimer
	 	 	76	 
	Section 7.06 May Hold Notes
	 	 	76	 
	Section 7.07 Money Held in Trust
	 	 	77	 
	Section 7.08 Compensation and Reimbursement
	 	 	77	 
	Section 7.09 Conflicting Interests
	 	 	77	 
	Section 7.10 Corporate Trustee Required; Eligibility
	 	 	77	 
	Section 7.11 Resignation and Removal; Appointment of Successor
	 	 	78	 
	Section 7.12 Acceptance of Appointment by Successor
	 	 	79	 
	Section 7.13 Merger, Conversion, Consolidation or Succession to Business
	 	 	79	 
	Section 7.14 Preferential Collection of Claims Against the Company
	 	 	80	 
	Section 7.15 Appointment of Authenticating Agent
	 	 	80	 
	 
	 	 	 	 
	ARTICLE 8 HOLDERS’ LIST AND REPORTS BY TRUSTEE AND THE COMPANY
	 	 	80	 
	 
	 	 	 	 
	Section 8.01 The Company to Furnish Trustee Names and Addresses of Holders; Stock
Exchange Listing
	 	 	80	 
	Section 8.02 Preservation of Information; Communications to Holders
	 	 	81	 
	Section 8.03 Reports by Trustee
	 	 	81	 
	 
	 	 	 	 
	ARTICLE 9 AMENDMENT, SUPPLEMENT OR WAIVER
	 	 	81	 
	 
	 	 	 	 
	Section 9.01 Without Consent of the Holders
	 	 	81	 
	Section 9.02 With Consent of Holders
	 	 	82	 
	Section 9.03 Execution of Amendments, Supplements or Waivers
	 	 	83	 
	Section 9.04 Revocation and Effect of Consents
	 	 	83	 
	Section 9.05 Conformity with TIA
	 	 	84	 
	Section 9.06 Notation on or Exchange of Notes
	 	 	84	 
	 
	 	 	 	 
	ARTICLE 10 REDEMPTION OF NOTES
	 	 	84	 
	 
	 	 	 	 
	Section 10.01 Right of Redemption
	 	 	84	 
	Section 10.02 Applicability of Article
	 	 	85	 
	Section 10.03 Election to Redeem; Notice to Trustee
	 	 	85	 
	Section 10.04 Selection by Trustee of Notes to Be Redeemed
	 	 	85	 

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TABLE OF CONTENTS

(Continued)

	 	 	 	 	 
	 	 	Page	 
	Section 10.05 Notice of Redemption
	 	 	86	 
	Section 10.06 Deposit of Redemption Price
	 	 	87	 
	Section 10.07 Notes Payable on Redemption Date
	 	 	87	 
	Section 10.08 Notes Redeemed in Part
	 	 	88	 
	 
	 	 	 	 
	ARTICLE 11 SATISFACTION AND DISCHARGE
	 	 	88	 
	 
	 	 	 	 
	Section 11.01 Satisfaction and Discharge of Indenture
	 	 	88	 
	Section 11.02 Application of Trust Money
	 	 	89	 
	 
	 	 	 	 
	ARTICLE 12 DEFEASANCE AND COVENANT DEFEASANCE
	 	 	89	 
	 
	 	 	 	 
	Section 12.01 Option of the Company to Effect Defeasance or Covenant Defeasance

	 	 	89	 
	Section 12.02 Legal Defeasance and Discharge
	 	 	89	 
	Section 12.03 Covenant Defeasance
	 	 	90	 
	Section 12.04 Conditions to Legal or Covenant Defeasance
	 	 	90	 
	Section 12.05 Deposited Money and Government Securities to Be Held in Trust;
Other Miscellaneous Provisions
	 	 	92	 
	Section 12.06 Repayment to Company
	 	 	92	 
	Section 12.07 Reinstatement
	 	 	93	 
	 
	 	 	 	 
	ARTICLE 13 NOTE GUARANTIES
	 	 	93	 
	 
	 	 	 	 
	Section 13.01 The Guarantees
	 	 	93	 
	Section 13.02 Guarantee Unconditional
	 	 	93	 
	Section 13.03 Discharge; Reinstatement
	 	 	94	 
	Section 13.04 Waiver by the Guarantors
	 	 	94	 
	Section 13.05 Subrogation and Contribution
	 	 	94	 
	Section 13.06 Stay of Acceleration
	 	 	94	 
	Section 13.07 Limits of Guarantees
	 	 	95	 
	Section 13.08 Execution and Delivery of Note Guarantee
	 	 	95	 
	Section 13.09 Release of Note Guaranties
	 	 	95	 
	 
	 	 	 	 
	ARTICLE 14 SECURITY INTEREST
	 	 	96	 
	 
	 	 	 	 
	Section 14.01 Grant of Security Interest
	 	 	96	 
	Section 14.02 Release of Security Interest
	 	 	97	 
	Section 14.03 Documents to be Delivered Prior to Release of Security Interest

	 	 	98	 
	Section 14.04 Pledge of Additional Collateral
	 	 	98	 
	Section 14.05 Amendment to Security Agreements
	 	 	98	 
	Section 14.06 Confirmation of Perfection of Second Lien Collateral Agent’s Liens

	 	 	99	 
	Section 14.07 Second Lien Collateral Agent
	 	 	99	 
	Section 14.08 Replacement of Second Lien Collateral Agent
	 	 	99	 

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TABLE OF CONTENTS

(Continued)

	 	 	 	 	 
	 	 	Page	 
	EXHIBIT A            Form of Note
	 	 	 	 
	EXHIBIT B            Form of Supplemental Indenture
	 	 	 	 
	EXHIBIT C            Restricted Legend
	 	 	 	 
	EXHIBIT D            DTC Legend
	 	 	 	 
	EXHIBIT E            OID Legend
	 	 	 	 
	EXHIBIT F            Second Lien Legend
	 	 	 	 
	EXHIBIT G            Rule 144A Certificate
	 	 	 	 

-v-

 

     INDENTURE, dated as of September 29, 2009 (as amended, supplemented or otherwise modified from
time to time, this “Indenture”), among EASTMAN KODAK COMPANY, a New Jersey corporation (as further
defined herein, the “Company”), the Guarantors party hereto and The Bank of New York Mellon, as
trustee (in such capacity, the “Trustee”) and as collateral agent (in such capacity, the “Second
Lien Collateral Agent”).

RECITALS OF THE COMPANY

     The Company and the Guarantors have duly authorized the execution and delivery of this
Indenture to provide for the issuance of $300,000,000 aggregate principal amount, such amount to be
increased upon the payment of PIK Interest (as defined below), of 10.50% Senior Notes due 2017 of
the Company (the “Notes”), guaranteed to the extent provided herein and in the Notes by the
Guarantors. All things necessary to make the Notes, when duly issued, executed and delivered by the
Company and authenticated and delivered by the Trustee hereunder, the valid and legally binding
obligation of the Company, and to make this Indenture a valid and legally binding agreement of the
Company and the Guarantors as of the date hereof, in accordance with the terms of the Notes and
this Indenture, have been done.

     NOW, THEREFORE, THIS INDENTURE WITNESSETH:

     For and in consideration of the premises and the purchase of the Notes by the Holders (as
defined herein) thereof, it is mutually agreed, for the equal and ratable benefit of all Holders,
as follows:

ARTICLE 1

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

     Section 1.01 Definitions.

     “Acquired Debt” means Debt of a Person existing at the time the Person merges with or into or
becomes a Restricted Subsidiary and not Incurred in connection with, or in contemplation of, the
Person merging with or into or becoming a Restricted Subsidiary.

     “Additional Assets” means any long-term assets or other assets or inventory that are useful or
to be used in a Permitted Business.

     “Affiliate” means, with respect to any Person, any other Person directly or indirectly
controlling, controlled by, or under direct or indirect common control with, such Person. For
purposes of this definition, “control” (including, with correlative meanings, the terms
“controlling,” “controlled by” and “under common control with”) with respect to any Person, means
the possession, directly or indirectly, of the power to direct or cause the direction of the
management and policies of such Person, whether through the ownership of voting securities, by
contract or otherwise.

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     “Asset Sale” means any sale, lease, transfer or other disposition (including a Sale and
Leaseback Transaction) of any assets by the Company or any Restricted Subsidiary, including by
means of a merger, consolidation or similar transaction and including any sale or issuance of the
Equity Interests of any Restricted Subsidiary (each of the above referred to as a “disposition”),
provided that the following are not included in the definition of “Asset Sale”:

          (1) a disposition to the Company or a Restricted Subsidiary, including the sale or issuance by
the Company or any Restricted Subsidiary of any Equity Interests of any Restricted Subsidiary to
the Company or any Restricted Subsidiary;

          (2) the disposition by the Company or any Restricted Subsidiary in the ordinary course of
business of (i) cash and Cash Equivalents, (ii) inventory and other assets acquired and held for
resale in the ordinary course of business, (iii) damaged, worn out, surplus or obsolete assets, or
(iv) rights granted to others pursuant to leases or licenses (including licenses or sublicenses of
intellectual property);

          (3) the sale or discount of accounts receivable arising in the ordinary course of business in
connection with the compromise or collection thereof;

          (4) a transaction subject to Article 5;

          (5) a Restricted Payment permitted under Section 4.07 or a Permitted Investment and any
disposition thereof;

          (6) the issuance of Disqualified or Preferred Stock pursuant to Section 4.06;

          (7) dispositions of accounts receivable and related assets by or to a Securitization
Subsidiary in connection with a Permitted Receivables Financing;

          (8) any disposition in a transaction or series of related transactions of assets with a Fair
Market Value of less than $25,000,000;

          (9) any Event of Loss; provided that the Net Cash Proceeds in respect thereof shall be deemed
Net Cash Proceeds of an Asset Sale for purposes of Section 4.09 to the extent that the Net Cash
Proceeds of such Event of Loss exceed $25,000,000;

          (10) the granting of any option or other right to purchase, lease or otherwise acquire
inventory in the ordinary course of business;

          (11) the issuance of Equity Interests of Restricted Subsidiaries that are directors’
qualifying shares or local ownership shares;

          (12) the creation of any Lien permitted by this Indenture;

          (13) the settlement, waiver, release or surrender of claims or litigation rights of any kind
(including any settlement with respect to claims involving intellectual property rights); and

-2-

 

     (14) any sale of property to the lessor thereof in connection with a Capital Lease.

     “Authenticating Agent” means any Person authorized by the Trustee pursuant to Section 7.15 to
act on behalf of the Trustee to authenticate Notes of one or more series.

     “Average Life” means, with respect to any Debt, the quotient obtained by dividing (i) the sum
of the products of (x) the number of years from the date of determination to the dates of each
successive scheduled principal payment of such Debt and (y) the amount of such principal payment by
(ii) the sum of all such principal payments. For purposes of this definition, a principal payment
will be deemed to be scheduled on the first date on which holders of such Debt could cause such
Debt to be mandatorily redeemed or repurchased.

     “Board of Directors” means:

          (a) with respect to a corporation, the board of the directors of the corporation or a duly
authorized committee thereof;

          (b) with respect to a partnership, the board of directors of the general partner or a duly
authorized committee of such partnership or general partner serving a similar function; and

          (c) with respect to any other Person, the board or committee of such Person serving a similar
function.

     “Borrowing Base Amount” means the average of the sums of (a) 85% of the net book value of the
accounts receivable of the Company and its Domestic Restricted Subsidiaries plus (b) 65% of the net
book value of the inventory of the Company and its Restricted Subsidiaries that is located in the
United States of America plus (c) 25% of the net book value of the real property of the Company and
its Restricted Subsidiaries that is located in the United States of America plus (d) 25% of the net
book value of the equipment of the Company and its Restricted Subsidiaries that is located in the
United States of America as of the last day of each of the four most recently completed fiscal
quarters of the Company, in each case calculated on a pro forma basis to give effect to any
acquisition or disposition of a Person, division or line of business subsequent thereto and prior
to the date of determination.

     “Business Day” means any day except a Saturday, Sunday or other day on which commercial banks
in The City of New York are authorized by law to close.

     “Capital Lease” means, with respect to any Person, any lease of any property which, in
conformity with GAAP, is required to be capitalized on the balance sheet of such Person.

     “Capital Stock” means, with respect to any Person, any and all shares of stock of a
corporation, partnership interests or other equivalent interests (however designated, whether
voting or non-voting) in such Person’s equity, entitling the holder to receive a share of the
profits and losses, and a distribution of assets, after liabilities, of such Person.

-3-

 

     “Cash Equivalents” means

          (1) United States dollars, or money in other currencies;

          (2) U.S. Government Obligations, or certificates representing an ownership interest in U.S.
Government Obligations, with maturities not exceeding one year from the date of acquisition;

          (3) (i) demand deposits, (ii) time deposits and certificates of deposit with maturities of one
year or less from the date of acquisition, (iii) bankers’ acceptances with maturities not exceeding
one year from the date of acquisition, and (iv) overnight bank deposits, in each case with any bank
or trust company organized or licensed under the laws of the United States of America or any state
thereof having capital, surplus and undivided profits in excess of $500 million whose short-term
debt is rated “A-2” (or the then equivalent grade) or higher by S&P or “P-2” (or the then
equivalent grade) or higher by Moody’s;

          (4) repurchase obligations with a term of not more than seven days for underlying securities
of the type described in clauses (2) and (3) above entered into with any financial institution
meeting the qualifications specified in clause (3) above;

          (5) commercial paper rated at least P-1 (or the then equivalent grade) by Moody’s or A-1 (or
the then equivalent grade) by S&P and maturing within 270 days after the date of acquisition;

          (6) money market funds at least 95% of the assets of which consist of investments of the type
described in clauses (1) through (5) above and (7) below; and

          (7) substantially similar investments, of comparable credit quality, denominated in the
currency of any jurisdiction in which the Company or any of its Subsidiaries conducts business.

     “CFC” means a “controlled foreign corporation” as defined in the Code.

     “Change of Control” means:

          (1) the merger or consolidation of the Company with or into another Person or the merger of
another Person with or into the Company, or the sale of all or substantially all the assets of the
Company and its Subsidiaries, taken as a whole, to another Person, unless holders of the Voting
Stock of the Company, immediately prior to such transaction, hold securities of the surviving or
transferee Person that represent, immediately after such transaction, at least a majority of the
aggregate voting power of the Voting Stock of the surviving Person;

          (2) any “person” or “group” (as such terms are used for purposes of Sections 13(d) and 14(d)
of the Exchange Act) is or becomes the “beneficial owner” (as such term is used in

-4-

 

Rules 13d-3 under the Exchange Act), directly or indirectly, of more than 50% of the total
voting power of the Voting Stock of the Company; or

          (3) the adoption of a plan relating to the liquidation or dissolution of the Company.

     “Code” means the Internal Revenue Code of 1986, as amended.

     “Collateral” means, collectively, all assets or property (including Equity Interests) in which
Liens are purported to be granted pursuant to the Security Agreements as security for the
obligations of the Company and the Guarantors under the Notes and the Note Guaranties.

     “Company” means Eastman Kodak Company, a New Jersey corporation, and any successor in interest
thereto.

     “Company Request,” “Company Order” and “Company Consent” mean, respectively, a written
request, order or consent signed in the name of the Company by an Officer of the Company.

     “Consolidated Net Income” means, for any period, the aggregate net income (or loss) of the
Company and its Restricted Subsidiaries for such period determined on a consolidated basis in
conformity with GAAP, provided that the following (without duplication) will be excluded in
computing Consolidated Net Income:

          (1) the net income (but not loss) of any Person that is not a Restricted Subsidiary, except to
the extent of the lesser of

               (x) the dividends or other distributions actually paid in cash to the Company or any of its
Restricted Subsidiaries (subject to clause (3) below) by such Person during such period, and

               (y) the Company’s pro rata share of such Person’s net income earned during such period;

          (2) any net income (or loss) of any Person acquired in a pooling of interests transaction for
any period prior to the date of such acquisition;

          (3) the net income (but not loss) of any Restricted Subsidiary to the extent that the
declaration or payment of dividends or similar distributions by such Restricted Subsidiary of such
net income would not have been permitted for the relevant period by charter or by any agreement,
instrument, judgment, decree, order, statute, rule or governmental regulation applicable to such
Restricted Subsidiary;

          (4) any net after-tax extraordinary gains or extraordinary non-cash losses; and

          (5) any non cash goodwill impairment charges.

-5-

 

     In calculating the aggregate net income (or loss) of the Company and its Restricted
Subsidiaries on a consolidated basis, income attributable to Unrestricted Subsidiaries will be
excluded altogether.

     “Corporate Trust Office” means the principal office of the Trustee, at which at any particular
time its corporate trust business shall be administered, which office on the Issue Date is located
at 101 Barclay Street, 8W, New York, New York, 10286, Attention: Corporation Trust Administration,
or such other address as the Trustee may designate from time to time by notice to the Holders and
the Company, or the principal corporate trust office of any successor Trustee (or such other
address as such successor Trustee may designate from time to time by notice to the Holders and the
Company).

     “Credit Agreement” means the amended and restated credit agreement, dated as of March 31,
2009, among the Company, Kodak Canada, Inc., the lenders party thereto, Citicorp USA, Inc., as
agent, and the other agents an arrangers party thereto, together with any related documents
(including any security documents and guarantee agreements), as such agreement or related documents
may be amended, restated, modified, supplemented, extended, renewed, refinanced or replaced or
substituted from time to time.

     “Credit Facilities” means one or more (i) credit agreements (including the Credit Agreement)
or debt facilities to which the Company and/or one or more of its Restricted Subsidiaries is party
from time to time, in each case with banks, investment banks, insurance companies, mutual funds,
institutional investors or any other lenders or (ii) indentures, in each case, providing for
revolving credit loans, term loans, debt securities, bankers acceptances, receivables financing
(including through the sale of receivables to such lenders or to special purpose entities formed to
borrow from such lenders against such receivables), swing-line or commercial paper or letters of
credit or note facilities, in each case as such agreements or facilities may be amended, restated,
modified or supplemented from time to time, including any agreement refinancing the Credit
Agreement, whether in the bank or debt capital markets or otherwise (or combination thereof)
(including increasing the amount of available borrowings thereunder or adding Subsidiaries as
additional borrowers or guarantors thereunder).

     “Credit Facility Agent” means the agent under the Credit Agreement and any other collateral
agent for any First-Priority Lien Obligations.

     “Debt” means, with respect to any Person, without duplication,

          (1) all indebtedness of such Person for borrowed money;

          (2) all obligations of such Person evidenced by bonds, debentures, notes or other similar
instruments;

          (3) all obligations of such Person in respect of letters of credit, bankers’ acceptances or
other similar instruments, excluding obligations in respect of trade letters of credit, bankers’
acceptances or similar instruments issued in respect of trade payables to the extent not

-6-

 

drawn upon or presented, or, if drawn upon or presented, the resulting obligation of the
Person is paid within 10 Business Days;

          (4) all obligations of such Person to pay the deferred and unpaid purchase price of property
or services which are recorded as liabilities under GAAP, excluding accounts payable arising in the
ordinary course of business;

          (5) all obligations of such Person as lessee under Capital Leases;

          (6) all Debt of other Persons Guaranteed by such Person to the extent so Guaranteed;

          (7) all Debt of other Persons secured by a Lien on any asset of such Person, whether or not
such Debt is assumed by such Person;

          (8) the amount of all Permitted Receivables Financings of such Person; and

          (9) all obligations of such Person under Hedging Agreements,

     if and only to the extent, the items (other than letters of credit and obligations referred to
in clauses (5), (6), (7), (8) and (9) above) would appear as a liability on a balance sheet in
accordance with GAAP.

     The amount of Debt of any Person will be deemed to be:

          (A) with respect to contingent obligations, the maximum liability upon the occurrence of the
contingency giving rise to the obligation;

          (B) with respect to Debt secured by a Lien on an asset of such Person but not otherwise the
obligation, contingent or otherwise, of such Person, the lesser of (x) the Fair Market Value of
such asset on the date the Lien attached and (y) the amount of such Debt;

          (C) with respect to any Debt issued with original issue discount, the face amount of such Debt
less the remaining unamortized portion of the original issue discount of such Debt;

          (D) with respect to any Hedging Agreement, the net amount payable if such Hedging Agreement
terminated at that time due to default by such Person;

          (E) with respect to any Permitted Receivables Financing, (1) the aggregate principal or stated
amount of the Debt, fractional undivided interests (which stated amount may be described as a “net
investment” or similar term reflecting the amount invested in such undivided interest) or other
securities incurred or issued pursuant to such Permitted Receivables Financing, in each case
outstanding at such time, or (2) in the case of any Permitted Receivables Financing in respect of
which no such Debt, fractional undivided interests or securities are incurred or issued, the cash
purchase price paid by the buyer (other than any Securitization Subsidiary) in connection with its
purchase of Receivables less the amount of collections received by the Company or any

-7-

 

Subsidiary in respect of such Receivables and paid to such buyer, excluding any amounts
applied to purchase fees or discount or in the nature of interest; and

          (F) otherwise, the outstanding principal amount thereof.

     In no event shall the term “Debt” include (a) any indebtedness under any overdraft or cash
management facilities so long as any such indebtedness is repaid in full no later than five
business days following the date on which it was incurred or in the case of such indebtedness in
respect of credit or purchase cards, within 60 days of its incurrence, (b) obligations in respect
of performance, appeal or other surety bonds or completion guarantees or in respect of
reimbursement obligations for undrawn letters of credit, bankers’ guarantees or bankers’
acceptances (whether or not secured by a lien), each incurred in the ordinary course of business
and not as a part of a financing transaction, (c) any liability for Federal, state, local or other
taxes, (d) any balances that constitute accrued expenses, accounts payable or trade payables in the
ordinary course of business, (e) any obligations in respect of a lease properly classified as an
operating lease in accordance with GAAP, or (f) any customer deposits or advance payments received
in the ordinary course of business.

     “Default” means any event that is, or after notice or passage of time or both would be, an
Event of Default.

     “Depositary” means The Depository Trust Company, its nominees and successors.

     “Designated Non-Cash Consideration” means consideration which is not cash or Cash Equivalents
received by the Company or a Restricted Subsidiary or not received by the Company at closing in
connection with an Asset Sale that is so designated as Designated
Non-Cash Consideration by the
Company, setting forth the Fair Market Value thereof as determined in good faith by the Company and
the basis of such calculation.

     “Designated Subsidiary” means any Subsidiary engaged in a material portion of the Company’s
Graphic Communications Group’s prepress solutions business, or document imaging solutions business
or commercial ink jet business, or the Company’s Consumer Digital Imaging Group’s retail systems
solutions (RSS) business or all-in-one inkjet business, or that owns intellectual property of the
Company that is material to the Company and its Subsidiaries taken as a whole.

     “Disqualified Equity Interests” means Equity Interests that by their terms or upon the
happening of any event are

          (1) required to be redeemed or redeemable at the option of the holder prior to the Stated
Maturity of the notes for consideration other than Qualified Equity Interests, or

          (2) convertible at the option of the holder into Disqualified Equity Interests or exchangeable
for Debt;

-8-

 

provided that Equity Interests will not constitute Disqualified Equity Interests solely because of
provisions giving holders thereof the right to require repurchase or redemption upon an Asset Sale
or Change of Control occurring prior to the Stated Maturity of the notes if those provisions
specifically state that repurchase or redemption pursuant thereto will not be required prior to the
Company’s repurchase of the notes as required by this Indenture.

     “Disqualified Stock” means Capital Stock constituting Disqualified Equity Interests.

     “Domestic Restricted Subsidiary” means any Domestic Subsidiary that is a Restricted
Subsidiary.

     “Domestic Subsidiary” means any Subsidiary formed under the laws of the United States of
America or any jurisdiction thereof.

     “DTC Legend” means the legend set forth in Exhibit D.

     “EBITDA” means, for any period, the sum of

          (1) Consolidated Net Income, plus

          (2) Fixed Charges, to the extent deducted in calculating Consolidated Net Income, plus

          (3) to the extent deducted in calculating Consolidated Net Income and as determined on a
consolidated basis for the Company and its Restricted Subsidiaries in conformity with GAAP and
without duplication:

               (A) income taxes, other than income taxes or income tax adjustments (whether positive or
negative) attributable to extraordinary gains or losses; and

               (B) depreciation, amortization and all other non-cash items reducing Consolidated Net Income
(other than any such non-cash items in a period which reflect cash payments made or to be made in
another period), less all non-cash items increasing Consolidated Net Income (other than any such
non-cash items in a period that will result in a cash receipt or a reduction in a cash payment in
another period); plus

          (4) without duplication, net after-tax non-recurring losses (minus any net after-tax
non-recurring gains), to the extent reducing Consolidated Net Income, plus

          (5) without duplication, the amount of any restructuring charges deducted (and not added back)
in such period in computing Consolidated Net Income.

     “Equal and Ratable Assets” means, collectively, (i) each Principal Property and (ii) all
Equity Interests and all indebtedness of each “Restricted Subsidiary” as defined in the 1988
Indenture; provided, in each case, that any such asset shall constitute an “Equal and Ratable
Asset” only for so long as, and to the extent that, the granting of a security interest in or a
Lien thereon

-9-

 

would trigger an obligation on the part of the Company or any Subsidiary, pursuant to Section
1010 of the 1988 Indenture as in effect on the Issue Date, to equally and ratably secure any
securities issued pursuant to the 1988 Indenture that are subject to the provisions of such
section.

     “Equity Interests” means all Capital Stock and all warrants or options with respect to, or
other rights to purchase, Capital Stock, but excluding Debt convertible into equity.

     “Equity Offering” means an offering, after the Issue Date, of Qualified Stock of the Company
pursuant to an effective registration statement under the Securities Act or pursuant to a
transaction exempt from the registration requirements of the Security Act, other than an issuance
registered on Form S-4 or S-8 or any successor thereto or any issuance pursuant to employee benefit
plans or otherwise in compensation to officers, directors or employees.

     “Event of Loss” means, with respect to any property or asset (tangible or intangible, real or
personal), any of the following:

          (1) any loss, destruction or damage of such property or asset;

          (2) any institution of any proceeding for the condemnation or seizure of such property or
asset or for the exercise of any right of eminent domain;

          (3) any actual condemnation, seizure or taking by exercise of the power of eminent domain or
otherwise of such property or asset, or confiscation of such property or asset or the requisition
of the use of such property or asset; or

          (4) any settlement in lieu of the matters described in clauses (2) or (3) above.

     “Exchange Act” means the Securities Exchange Act of 1934, as amended.

     “Excluded Property” has the meaning given to such term in the Security Agreement entered into
on the Issue Date.

     “Excluded Subsidiary” means (i) any Immaterial Subsidiary, (ii) any Subsidiary of a Foreign
Subsidiary, (iii) any Principal Property Subsidiary, and (iv) any Securitization Subsidiary.

     “Fair Market Value” means the value that would be paid by a willing buyer to an unaffiliated
willing seller in a transaction not involving distress or necessity of either party, determined in
good faith by the Company (unless otherwise provided in this Indenture).

     “First-Priority Lien Obligations” has the meaning assigned to such term in clause (2) under
“Permitted Liens.”

     “Fixed Charge Coverage Ratio” means, on any date (the “transaction date”), the ratio of

-10-

 

          (x) the aggregate amount of EBITDA for the four fiscal quarters immediately prior to the
transaction date for which internal financial statements are available (the “reference period”) to

          (y) the aggregate Fixed Charges during such reference period, excluding amortization of debt
issuance costs and any other non-cash interest expense.

     In making the foregoing calculation,

          (1) pro forma effect will be given to any Debt, Disqualified Stock or Preferred Stock Incurred
during or after the reference period to the extent the Debt, Disqualified Stock or Preferred Stock
is outstanding or is to be Incurred on the transaction date as if the Debt, Disqualified Stock or
Preferred Stock had been Incurred on the first day of the reference period;

          (2) pro forma calculations of interest on Debt bearing a floating interest rate will be made
as if the rate in effect on the transaction date (taking into account any Hedging Agreement
applicable to the Debt if the Hedging Agreement has a remaining term of at least 12 months) had
been the applicable rate for the entire reference period;

          (3) Fixed Charges related to any Debt, Disqualified Stock or Preferred Stock no longer
outstanding or to be repaid or redeemed on the transaction date, except for Consolidated Interest
Expense accrued during the reference period under a revolving credit to the extent of the
commitment thereunder (or under any successor revolving credit) in effect on the transaction date,
will be excluded;

          (4) pro forma effect will be given to

               (A) the creation, designation or redesignation of Restricted and Unrestricted Subsidiaries,

               (B) the acquisition or disposition of companies, divisions or lines of businesses by the
Company and its Restricted Subsidiaries, including any acquisition or disposition of a company,
division or line of business since the beginning of the reference period by a Person that became a
Restricted Subsidiary after the beginning of the reference period, and

               (C) the discontinuation of any discontinued operations but, in the case of Fixed Charges, only
to the extent that the obligations giving rise to the Fixed Charges will not be obligations of the
Company or any Restricted Subsidiary following the transaction date

that have occurred since the beginning of the reference period as if such events had occurred, and,
in the case of any disposition, the proceeds thereof applied, on the first day of the reference
period. To the extent that pro forma effect is to be given to an acquisition or disposition of a
company, division or line of business, the pro forma calculation will be based upon the most recent
four full fiscal quarters for which the relevant financial information is available.

-11-

 

     “Fixed Charges” means, for any period, the sum of

          (1) Interest Expense for such period; and

          (2) the product of

          (x) (i) cash and non-cash dividends paid on any Disqualified Stock or Preferred Stock of the
Company or a Restricted Subsidiary plus (ii) without duplication, declared, accrued or accumulated
on any Disqualified Stock of the Company or a Restricted Subsidiary, in each case except for
dividends payable in the Company’s Qualified Stock or paid to the Company or to a Restricted
Subsidiary, and

          (y) a fraction, the numerator of which is one and the denominator of which is one minus the
sum of the currently effective combined Federal, state, local and foreign tax rate applicable to
the Company and its Restricted Subsidiaries.

     “Foreign Restricted Subsidiary” means any Restricted Subsidiary that is a Foreign Subsidiary.

     “Foreign Subsidiary” means a Subsidiary that is a CFC or a Subsidiary all or substantially all
of the assets of which are Foreign Subsidiaries, and any Subsidiary which would be a CFC except for
any alternate classification under Treasury Regulation 301.7701-3, or any successor provisions to
the foregoing.

     “GAAP” means generally accepted accounting principles in the United States of America as in
effect as of the Issue Date and, except as otherwise specifically provided for herein, all
calculations made for purposes of determining compliance with the terms of the provisions of this
Indenture shall utilize GAAP as in effect on such date.

     “Guarantee” means any obligation, contingent or otherwise, of any Person directly or
indirectly guaranteeing any Debt or other obligation of any other Person and, without limiting the
generality of the foregoing, any obligation, direct or indirect, contingent or otherwise, of such
Person (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Debt
or other obligation of such other Person (whether arising by virtue of partnership arrangements, or
by agreement to keep-well, to purchase assets, goods, securities or services, to take-or-pay, or to
maintain financial statement conditions or otherwise) or (ii) entered into for purposes of assuring
in any other manner the obligee of such Debt or other obligation of the payment thereof or to
protect such obligee against loss in respect thereof, in whole or in part; provided that the term
“Guarantee” does not include endorsements for collection or deposit in the ordinary course of
business. The term “Guarantee” used as a verb has a corresponding meaning.

     “Guarantor” means (i) each Wholly-Owned Domestic Restricted Subsidiary that Guarantees the
Notes on the Issue Date and (ii) each Wholly-Owned Domestic Restricted Subsidiary (other than an
Excluded Subsidiary).

-12-

 

     “Hedging Agreement” means (i) any interest rate swap agreement, interest rate cap agreement,
interest rate collar agreement or other agreement designed to manage fluctuations in interest rates
or (ii) any foreign exchange forward contract, currency swap agreement, currency option or other
agreement designed to manage fluctuations in foreign exchange rates or (iii) any commodity or raw
material futures contract, commodity option agreement, commodity swap agreement or any other
agreement designed to manage fluctuations in commodity raw material (as defined under the Commodity
Exchange Act) prices.

     “Holder” with respect to any Note, means the registered holder thereof.

     “Immaterial Subsidiary” means any Subsidiary that (i) has not Guaranteed any other Debt of the
Company or any of its Subsidiaries (other than Permitted Credit Facility Debt) and (ii) together
with its Subsidiaries, has total assets (determined in accordance with GAAP but excluding any
intercompany receivables from the Company or a Guarantor) of less than $10,000,000 shown on the
consolidated statement of financial condition of the Company and its Subsidiaries, in each case as
of the as last day of the fiscal year most recently ended.

     “Incur” means, with respect to any Debt or Capital Stock, to incur, create, issue, assume or
Guarantee such Debt or Capital Stock. If any Person becomes a Restricted Subsidiary on any date
after the date of this Indenture (including by redesignation of an Unrestricted Subsidiary or
failure of an Unrestricted Subsidiary to meet the qualifications necessary to remain an
Unrestricted Subsidiary), the Debt and Capital Stock of such Person outstanding on such date will
be deemed to have been Incurred by such Person on such date for purposes of Section 4.06, but will
not be considered the sale or issuance of Equity Interests for purposes of Section 4.09.

     “Intercreditor Agreement” means the Intercreditor Agreement dated on or about the Issue Date
among the Second Lien Collateral Agent, the Credit Facility Agent, the Trustee, the Company and
each Guarantor, as such agreement may be amended, restated, supplemented or otherwise modified from
time to time, and any other Intercreditor Agreement entered into by the Second Lien Collateral
Agent (on terms not less favorable to the Holders) with any Credit Facility Agent.

     “Interest Expense” means, for any period, the consolidated interest expense of the Company and
its Restricted Subsidiaries, plus, to the extent not included in such consolidated interest
expense, and to the extent incurred, accrued or payable by the Company or its Restricted
Subsidiaries, without duplication, (i) amortization of debt discount and debt issuance costs (other
than any such amortization resulting from the issuance of the Notes), (ii) capitalized interest,
(iii) non-cash interest expense (excluding non-cash interest expense attributable to required
marking-to-market of obligations under Hedging Agreements or other derivative instruments in
accordance with GAAP), (iv) commissions, discounts and other fees and charges owed with respect to
letters of credit, bankers’ acceptances and similar instruments, (v) net payments, if any, made
(less net payments, if any, received) pursuant to Hedging Agreements (including the amortization of
fees), and (vi) any premiums, fees, discounts, expenses and losses on the sale of accounts
receivable (and any amortization thereof) payable by the Company or any Restricted Subsidiary in
connection with a Permitted Receivables Financing, and any yields or other charges or other amounts
comparable to, or

-13-

 

in the nature of, interest payable by the Company or any Restricted Subsidiary under any
Permitted Receivables Financing, as determined on a consolidated basis and in accordance with GAAP.

     “Interest Payment Date” means, when used with respect to any Note and any installment of
interest thereon, the date specified for such purpose in Section 3.01.

     “Investment” means

          (1) any advance, loan or other extension of credit to another Person,

          (2) any capital contribution to another Person, by means of any transfer of cash or other
property or in any other form,

          (3) any purchase or acquisition of Equity Interests, bonds, notes or other Debt, or other
instruments or securities issued by another Person, including the receipt of any of the above as
consideration for the disposition of assets or rendering of services, or

          (4) any Guarantee of any obligation of another Person.

     If the Company or any Restricted Subsidiary (x) sells or otherwise disposes of any Equity
Interests of any direct or indirect Restricted Subsidiary so that, after giving effect to that sale
or disposition, such Person is no longer a Subsidiary of the Company, or (y) designates any
Restricted Subsidiary as an Unrestricted Subsidiary in accordance with the provisions of this
Indenture, all remaining Investments of the Company and the Restricted Subsidiaries in such Person
shall be deemed to have been made at such time.

     “Investment Grade” designates a rating of BBB- or higher by S&P or Baa3 or higher by Moody’s
(or the equivalent of such ratings from any rating agency that has been substituted for S&P or
Moody’s in accordance with the definition of “Rating Agencies”).

     “Issue Date” means September 29, 2009.

     “Lien” means any mortgage, pledge, security interest, encumbrance, lien or charge of any kind
(including any conditional sale or other title retention agreement or Capital Lease).

     “Moody’s” means Moody’s Investors Service, Inc. and its successors.

     “Net Cash Proceeds” means, with respect to any Asset Sale or Event of Loss, the proceeds of
such Asset Sale or Event of Loss in the form of cash (including (i) payments in respect of deferred
payment obligations to the extent corresponding to, principal, but not interest, when received in
the form of cash, (ii) proceeds from the conversion of other consideration received when converted
to cash, and (iii) insurance proceeds and condemnation awards), net of

          (1) brokerage commissions and other fees and expenses related to such Asset Sale or Event of
Loss, including fees and expenses of counsel, accountants and investment bankers;

-14-

 

          (2) provisions for taxes paid or payable as a result of such Asset Sale or Event of Loss
(after taking into account any available tax credits or deductions);

          (3) payments required to be made to holders of minority interests in Restricted Subsidiaries
as a result of such Asset Sale or to repay Debt outstanding at the time of such Asset Sale or Event
of Loss that is secured by a Lien on the property or assets sold or subject to the Event of Loss;
and

          (4) appropriate amounts to be provided as a reserve against liabilities associated with such
Asset Sale or Event of Loss, including pension and other post-employment benefit liabilities,
liabilities related to environmental matters and indemnification obligations associated with such
Asset Sale or Event of Loss, with any subsequent reduction of the reserve other than by payments
made and charged against the reserved amount to be deemed a receipt of cash.

     “1988 Indenture” means the indenture dated as of January 1, 1988 between the Company and The
Bank of New York Mellon, as trustee, as amended or supplemented from time to time.

     “Non-Recourse Debt” means Debt as to which neither the Company nor any Restricted Subsidiary
provides any Guarantee and as to which the providers thereof have been notified in writing, or have
otherwise agreed, that they will not have any recourse to the stock or assets of the Company or any
Restricted Subsidiary other than the specific asset securing such Debt.

     “Notes” means the notes issued pursuant to this Indenture.

     “Note Guaranty” means the guaranty of the Notes by a Guarantor pursuant to this Indenture.

     “Obligations” means, with respect to any Debt, all obligations (whether in existence on the
Issue Date or arising afterwards, absolute or contingent, direct or indirect) for or in respect of
principal (when due, upon acceleration, upon redemption, upon mandatory repayment or repurchase
pursuant to a mandatory offer to purchase, or otherwise), premium, interest, penalties, fees,
indemnification, reimbursement and other amounts payable and liabilities with respect to such Debt,
including all interest accrued or accruing after the commencement of any bankruptcy, insolvency or
reorganization or similar case or proceeding at the contract rate (including, without limitation,
any contract rate applicable upon default) specified in the relevant documentation, whether or not
the claim for such interest is allowed as a claim in such case or proceeding.

     “Officer” means, with respect to the Company, the president, chief executive officer, chief
financial officer or treasurer.

     “Officer’s Certificate” means a certificate signed in the name of the Company by an Officer of
the Company.

     “OID Legend” means the legend set forth in Exhibit G.

-15-

 

     “Opinion of Counsel” means a written opinion (reasonably acceptable to the Trustee) from legal
counsel. The counsel may be an employee of or counsel to the Company.

     “Outstanding” when used with respect to Notes means, as of the date of determination, all
Notes theretofore authenticated and delivered under this Indenture, except:

     (1) Notes theretofore cancelled by the Trustee or delivered to the Trustee for cancellation;

     (2) Notes for whose payment or redemption money in the necessary amount has been theretofore
deposited with the Trustee or any Paying Agent in trust for the Holders of such Notes, provided
that, if such Notes are to be redeemed, notice of such redemption has been duly given pursuant to
this Indenture or provision therefor reasonably satisfactory to the Trustee has been made;

     (3) Notes surrendered pursuant to Section 3.06; and

     (4) Notes in exchange for or in lieu of which other Notes have been authenticated and
delivered pursuant to this Indenture.

     A Note does not cease to be Outstanding because the Company or any Affiliate of the Company
holds the Note, provided that, in determining whether the Holders of the requisite amount of
Outstanding Notes have given any request, demand, authorization, direction, notice, consent or
waiver hereunder, Notes owned by the Company or any Affiliate of the Company shall be disregarded
and deemed not to be Outstanding, except that, for the purpose of determining whether the Trustee
shall be protected in relying on any such request, demand, authorization, direction, notice,
consent or waiver, only Notes which a Responsible Officer of the Trustee actually knows are so
owned shall be so disregarded. Notes so owned that have been pledged in good faith may be regarded
as Outstanding if the pledgee establishes to the reasonable satisfaction of the Trustee the
pledgee’s right to act with respect to such Notes and that the pledgee is not the Company or an
Affiliate of such Company.

     “Paying Agent” means any Person authorized by the Company to pay the principal of (and
premium, if any) or interest on any Notes on behalf of the Company.

     “Payment Default” means any failure to pay any scheduled installment of interest or principal
on any Debt within the grace period provided for such payment in the documentation governing such
Debt.

     “Permitted Business” means any of the businesses in which the Company and its Restricted
Subsidiaries are engaged on the Issue Date, and any business reasonably related, incidental,
complementary or ancillary thereto.

     “Permitted Investments” means:

          (1) any Investment in the Company or in a Restricted Subsidiary of the Company;

-16-

 

          (2) any Investment in Cash Equivalents;

          (3) any Investment by the Company or any Subsidiary of the Company in a Person, if as a result
of such Investment,

               (A) such Person becomes a Restricted Subsidiary of the Company, or

               (B) such Person is merged or consolidated with or into, or transfers or conveys substantially
all its assets to, or is liquidated into, the Company or a Restricted Subsidiary;

          (4) Investments received as non-cash consideration in an Asset Sale made pursuant to and in
compliance with Section 4.09;

          (5) any Investment acquired solely in exchange for Qualified Stock of the Company;

          (6) Hedging Agreements otherwise permitted under this Indenture;

          (7) (i) receivables owing to the Company or any Restricted Subsidiary if created or acquired
in the ordinary course of business, (ii) Cash Equivalents or other liquid or portfolio securities
pledged as collateral pursuant to Section 4.11(b), (iii) endorsements for collection or deposit in
the ordinary course of business, and (iv) securities, instruments or other obligations received in
compromise or settlement of debts created in the ordinary course of business, or by reason of a
composition or readjustment of debts or reorganization of another Person, or in satisfaction of
disputes, claims or judgments;

          (8) Investments in Unrestricted Subsidiaries in an aggregate amount, taken together with all
other Investments made in reliance on this clause, not to exceed $100,000,000 (net of, with respect
to the Investment in any particular Person, the cash return thereon received after the Issue Date
as a result of any sale for cash, repayment, redemption, liquidating distribution or other cash
realization (not included in Consolidated Net Income), not to exceed the amount of Investments in
such Person made after the Issue Date in reliance on this clause);

          (9) payroll, travel and other loans or advances to, or Guarantees issued to support the
obligations of, officers and employees, in each case in the ordinary course of business, not in
excess of $25,000,000 outstanding at any time;

          (10) extensions of credit to or on behalf of customers, distributors and suppliers in the
ordinary course of business;

          (11) Investments arising as a result of any Permitted Receivables Financing;

          (12) Investments existing on the Issue Date and Investments purchased or received in exchange
for any such Investment (which initial Investment is not otherwise permitted under any other clause
of this definition); provided, that any additional consideration provided by the Company

-17-

 

or any Restricted Subsidiary in any such exchange is permitted pursuant to another clause of
this definition;

          (13) Investments in any other Person in an aggregate amount not to exceed $300,000,000 (net
of, with respect to the Investment in any particular Person made pursuant to this clause, the cash
return thereon received after the Issue Date as a result of any sale for cash, repayment,
redemption, liquidating distribution or other cash realization (not included in Consolidated Net
Income) not to exceed the amount of such Investments made after the Issue Date in reliance on this
clause);

          (14) lease, utility, workers’ compensation, unemployment insurance, performance and other
deposits made in the ordinary course of business;

          (15) Investments consisting of the purchase or acquisition of inventory, supplies, materials
and equipment in the ordinary course of business;

          (16) prepaid expenses and negotiable instruments held for collection in the ordinary course of
business;

          (17) Investments (i) of the types specified in the definition of Cash Equivalents but which
mature on dates up to three years from the date of acquisition and (ii) consisting of corporate
obligations with long term ratings of A or better from S&P or A2 or better from Moody’s, having
maturities of not more than twelve months from the date of acquisition, so long as the aggregate
value of the Investments described in clauses (i) and (ii) does not exceed 20% of the value of cash
and short term investments and long term investments of the types described in the definition of
Cash Equivalents and this clause (17), in each case as shown on the Company’s most recent balance
sheet that has been made publicly available;

          (18) Investments in Persons domiciled in, or substantially all of the assets of which are
located in, the People’s Republic of China in an aggregate amount not to exceed $100,000,000;

          (19) Investments received in settlement of claims against another Person in connection with
(A) a bankruptcy proceeding against such Person, (B) accounts receivable arising from or trade
credit granted to, in the ordinary course of business, a financially troubled account debtor and
(C) disputes regarding intellectual property rights; and

          (20) Guarantees of Debt permitted to be Incurred under Section 4.06.

     “Permitted Liens” means

          (1) Liens existing on the Issue Date other than Liens securing the Credit Agreement;

          (2) Liens on the Collateral and Liens on assets of Excluded Subsidiaries that are not
Guarantors securing:

-18-

 

               (A) the Notes, the Note Guaranties and other Obligations under this Indenture and in respect
thereof and any obligations owing to the Trustee or the Second Lien Collateral Agent under this
Indenture or the Security Agreements;

               (B) (i) Debt Incurred under clause (1) of the definition of Permitted Debt (and all
Obligations incurred, issued or arising under such secured credit facilities that permit borrowings
not in excess of the limit set forth in such clause (1)) and (ii) Obligations of the Company and
its Subsidiaries under Hedging Agreements and other agreements, including in respect of (x)
treasury management services provided by and (y) letters of credit issued by, entered into with
lenders under the Debt referred to in the preceding clause (i) or their affiliates (so long as such
Persons remain lenders (or affiliates thereof) after entry into such agreements or arrangements) in
an aggregate amount for this clause (ii) not to exceed the sum of (A) the excess, if any, of the
amount of Debt permitted to be Incurred under clause (1) of the definition of Permitted Debt over
the amount of Debt actually Incurred under clause (1) of the definition of Permitted Debt plus (B)
$100,000,000, which Liens incurred under this clause (B) may, subject to the limitations set forth
in the Intercreditor Agreement, be on a first-lien priority basis compared to the liens securing
the Notes and the other Obligations referred to in the preceding paragraph (A) on the terms set
forth in the Intercreditor Agreement (collectively and as limited by such limitations,
“First-Priority Lien Obligations”);

          (3) pledges or deposits under worker’s compensation laws, unemployment insurance laws or
similar legislation, or good faith deposits in connection with bids, tenders, contracts or leases,
or to secure public or statutory obligations, surety bonds, customs duties and the like, or for the
payment of rent, in each case incurred in the ordinary course of business and not securing Debt;

          (4) Liens imposed by law, such as landlords’, suppliers’, carriers’, vendors’, warehousemen’s,
materialmen’s, workmen’s, repairman’s and mechanics’ liens, in each case for sums not yet due or
being contested in good faith and by appropriate proceedings;

          (5) Liens in respect of taxes and other governmental assessments and charges, levies or claims
which are not yet due or which are being contested in good faith and by appropriate proceedings;

          (6) Liens securing reimbursement obligations with respect to letters of credit that encumber
documents and other property relating to such letters of credit and the proceeds thereof;

          (7) minor survey exceptions, minor encumbrances, easements or reservations of, or rights of
others for, licenses, rights of way, sewers, electric lines, telegraph and telephone lines and
other similar purposes, or zoning or other restrictions as to the use of real property, not
interfering in any material respect with the conduct of the business of the Company and its
Restricted Subsidiaries;

-19-

 

          (8) licenses or leases or subleases as licensor, lessor or sublessor of any of its property,
including intellectual property, in the ordinary course of business, and any interest of
co-sponsors, co-owners or co-developers of intellectual property;

          (9) customary Liens in favor of trustees and escrow agents, and netting and setoff rights,
banker’s liens and the like in favor of financial institutions and counterparties to financial
obligations and instruments, excluding Hedging Agreements;

          (10) Liens on assets pursuant to merger agreements, stock or asset purchase agreements and
similar agreements in respect of the disposition of assets subject thereto;

          (11) options, put and call arrangements, rights of first refusal and similar rights relating
to Investments in joint ventures, partnerships and the like;

          (12) judgment liens, and Liens securing appeal bonds or letters of credit issued in support of
or in lieu of appeal bonds, so long as no Event of Default then exists under Section 6.01(6);

          (13) Liens incurred in the ordinary course of business not securing Debt and not in the
aggregate materially detracting from the value of the properties or their use in the operation of
the business of the Company and its Restricted Subsidiaries;

          (14) Liens (including the interest of a lessor under a Capital Lease) on property that secure
Debt Incurred for the purpose of financing or refinancing all or any part of the purchase price or
cost of construction or improvement of such property and which attach within 365 days after the
date of such purchase or the completion of construction or improvement (including Liens securing
Acquired Debt of the type described in this clause (14)); provided that such Debt was permitted to
be incurred under this Indenture;

          (15) Liens on property or shares of Capital Stock of a Person at the time such Person becomes
a Subsidiary of the Company, provided such Liens were not created in contemplation thereof and do
not extend to any other property of the Company or any Restricted Subsidiary;

          (16) Liens on property at the time the Company or any of the Restricted Subsidiaries acquires
such property, including any acquisition by means of a merger or consolidation with or into the
Company or a Restricted Subsidiary of such Person, provided such Liens were not created in
contemplation thereof and do not extend to any other property of the Company or any Restricted
Subsidiary;

          (17) Liens on accounts receivable and related assets and proceeds thereof arising in
connection with a Permitted Receivables Financing pursuant to Section 4.06(b)(xvi);

-20-

 

          (18) Liens on assets of Foreign Restricted Subsidiaries securing Debt of such Foreign
Restricted Subsidiaries or other obligations of such Foreign Restricted Subsidiaries permitted
under this Indenture;

          (19) extensions, renewals or replacements of any Liens referred to in clauses (1), (2), (14),
(15) or (16) in connection with the refinancing of the obligations secured thereby, provided that
such Lien does not extend to any other property and, except as contemplated by the definition of
“Permitted Refinancing Debt”, the amount secured by such Lien is not increased;

          (20) Liens on Equal and Ratable Assets so long as the notes have been secured equally and
ratably with (or, if the obligation to be secured by the Lien is subordinated in right of payment
to the Notes or any Note Guaranty, prior to) the obligations so secured for so long as such
obligations are so secured;

          (21) other Liens (other than on the Collateral or Equal and Ratable Assets) securing
obligations in an aggregate amount at any time outstanding not exceeding $200,000,000;

          (22) Liens securing Debt or other obligations of the Company or any Guarantor owing to the
Company or another Guarantor;

          (23) Liens arising from precautionary Uniform Commercial Code financing statement filings
regarding operating leases (other than Sale and Leaseback Transactions) entered into by the Company
or a Restricted Subsidiary in the ordinary course of business; and

          (24) Liens on assets set aside or deposited to defease or repay Debt; provided that such Debt
was permitted under this Indenture.

     “Permitted Receivables Financing” means any receivables financing facility or arrangement
pursuant to which a Securitization Subsidiary purchases or otherwise acquires Receivables of the
Company or any Restricted Subsidiaries and enters into a third party financing thereof on terms
that the Board of Directors of the Company has concluded are customary and market terms fair to the
Company and its Restricted Subsidiaries.

     “Person” means an individual, a corporation, a partnership, a limited liability company, an
association, a trust or any other entity, including a government or political subdivision or an
agency or instrumentality thereof.

     “PIK Interest” has the meaning set forth in Exhibit A hereto.

     “Place of Payment” means a city or any political subdivision thereof referred to in Article 3
and initially designated under Section 4.02.

     “Preferred Stock” means, with respect to any Person, any and all Capital Stock which is
preferred as to the payment of dividends or distributions, upon liquidation or otherwise, over
another class of Capital Stock of such Person.

-21-

 

     “Principal” of a Note means the principal of the Note plus the premium, if any, payable on the
Note which is due or overdue or is to become due at the relevant time.

     “Principal Property” means any manufacturing plant or manufacturing facility which is (i)
located within the continental United States of America and (ii) in the opinion of the Board of
Directors of the Company materially important to the total business conducted by the Company and
its Subsidiaries that own Principal Properties, taken as a whole; provided, that no such
manufacturing plant or manufacturing facility shall constitute a “Principal Property” unless the
pledge thereof to secure the Notes or the Note Guaranties would trigger an obligation on the part
of the Company or any Restricted Subsidiary to equally and ratably secure the Company’s existing
unsecured public bonds.

     “Principal Property Subsidiary” means any Subsidiary that owns Principal Property.

     “Qualified Equity Interests” means all Equity Interests of a Person other than Disqualified
Equity Interests.

     “Qualified Stock” means all Capital Stock of a Person other than Disqualified Stock.

     “Rating Agencies” means S&P and Moody’s; provided, that if either S&P or Moody’s (or both)
shall cease issuing a rating on the notes for reasons outside the control of the Company, the
Company may select a nationally recognized statistical rating agency to substitute for S&P or
Moody’s (or both).

     “Receivables” means accounts receivable (including all rights to payment created by or arising
from the sale of goods, leases of goods or the rendition of services, no matter how evidenced
(including in the form of a chattel paper) and whether or not earned by performance).

     “Redemption Date” when used with respect to any Note to be redeemed or purchased means the
date fixed for such redemption or purchase by or pursuant to this Indenture and the Note.

     “Redemption Price” when used with respect to any Note to be redeemed or purchased means the
price at which it is to be redeemed or purchased pursuant to this Indenture and the Note.

     “Registration Rights Agreement” means the Registration Rights Agreement, dated as of September
29, 2009, among the Company, the Guarantors and the other parties named on the signature pages
thereof, as such agreement may be amended, modified or supplemented from time to time.

     “Regular Record Date” for the interest payable on any Interest Payment Date means the date
specified for that purpose in Section 3.01.

     “Responsible Officer” when used with respect to the Trustee means any officer in the corporate
trust department of the Trustee, including any vice president, assistant vice president, assistant
secretary, assistant treasurer, trust officer or any other officer of the Trustee who

-22-

 

customarily performs functions similar to those performed by the Persons who at the time shall
be such officers, and also means, with respect to a particular corporate trust matter, any other
officer to whom such matter is referred because of his or her knowledge of and familiarity with the
particular subject and who shall have direct responsibility for the administration of this
Indenture.

     “Restricted Legend” means the legend set forth in Exhibit C.

     “Restricted Subsidiary” means any Subsidiary of the Company other than an Unrestricted
Subsidiary.

     “Rule 144” means Rule 144 promulgated under the Securities Act.

     “Rule 144A” means Rule 144A under the Securities Act.

     “Rule 144A Certificate” means (i) a certificate substantially in the form of Exhibit G hereto
or (ii) a written certification addressed to the Company and the Trustee to the effect that the
Person making such certification (x) is acquiring the applicable Note (or beneficial interest) for
its own account or one or more accounts with respect to which it exercises sole investment
discretion and that it and each such account is a qualified institutional buyer within the meaning
of Rule 144A, (y) is aware that the transfer to it or exchange, as applicable, is being made in
reliance upon the exemption from the provisions of Section 5 of the Securities Act provided by Rule
144A, and (z) acknowledges that it has received such information regarding the Company as it has
requested pursuant to Rule 144A(d)(4) or has determined not to request such information.

     “S&P” means Standard & Poor’s Ratings Group, a division of McGraw Hill, Inc. and its
successors.

     “Sale and Leaseback Transaction” means, with respect to any Person, an arrangement whereby
such Person enters into a lease (other than a Capital Lease) of property previously transferred by
such Person to the lessor.

     “SEC” means the Securities and Exchange Commission.

     “Second Lien Legend” means the legend set forth in Exhibit F.

     “Second-Priority Liens” means all Liens that secure the Second-Priority Lien Obligations.

     “Second-Priority Lien Obligations” shall mean the Notes and any other indebtedness secured by
the Collateral on a second-priority basis, approved for designation as such by the Credit Facility
Agent and the Second Lien Collateral Agent or pursuant to the Intercreditor Agreement between the
Second Lien Collateral Agent and the Credit Facility Agent.

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

     “Securitization Subsidiary” means a Subsidiary of the Company

-23-

 

          (1) that is designated a “Securitization Subsidiary” by the Board of Directors of the Company,

          (2) that does not engage in, and whose charter prohibits it from engaging in, any activities
other than Permitted Receivables Financings and any activity necessary, incidental or related
thereto,

          (3) no portion of the Debt or any other obligation, contingent or otherwise, of which

               (A) is Guaranteed by the Company or any Restricted Subsidiary of the Company,

               (B) is recourse to or obligates the Company or any Restricted Subsidiary of the Company in any
way, or

               (C) subjects any property or asset of the Company or any Restricted Subsidiary of the Company,
directly or indirectly, contingently or otherwise, to the satisfaction thereof,

          (4) with respect to which neither the Company nor any Restricted Subsidiary of the Company
(other than an Unrestricted Subsidiary) has any obligation to maintain or preserve its financial
condition or cause it to achieve certain levels of operating results,

other than, in respect of clauses (3) and (4), pursuant to customary representations, warranties,
covenants and indemnities entered into in connection with a Permitted Receivables Financing.

     “Security Agreements” means (i) the Intercreditor Agreement and (ii) all security agreements,
pledge agreements, collateral assignments and other security documents or other grants or transfers
for security or agreements related thereto creating or perfecting (or purporting to create or
perfect) a Lien in any assets of any Person to secure the Obligations under the Notes and the Note
Guaranties, or under which rights or remedies with respect to such Liens are governed, as each may
be amended, restated, supplemented or otherwise modified from time to time.

     “Significant Subsidiary” means any Subsidiary, or group of Subsidiaries, that would , taken
together, be a “significant subsidiary” as defined in Article 1, Rule 1-02 (w)(1) or (2) of
Regulation S-X promulgated under the Securities Act, as such regulation is in effect on the date of
this Indenture.

     “Special Record Date” for the payment of any Defaulted Interest means a date fixed by the
Trustee pursuant to Section 3.07(a).

     “Specified Transaction” means any transaction or agreement entered into with KKR Jet Stream
(Cayman) Limited or its Affiliates on or about the Issue Date in connection with the issuance of
the Notes.

-24-

 

     “Stated Maturity” means (i) with respect to any Debt, the date specified as the fixed date on
which the final installment of principal of such Debt is due and payable or (ii) with respect to
any scheduled installment of principal of or interest on any Debt, the date specified as the fixed
date on which such installment is due and payable as set forth in the documentation governing such
Debt, not including any contingent obligation to repay, redeem or repurchase prior to the regularly
scheduled date for payment.

     “Subordinated Debt” means any Debt of the Company or any Guarantor which is subordinated in
right of payment to the notes or the Note Guaranty, as applicable, pursuant to a written agreement
to that effect.

     “Subsidiary” means with respect to any Person, any corporation, association or other business
entity of which more than 50% of the outstanding Voting Stock is owned, directly or indirectly, by,
or, in the case of a partnership, the sole general partner or the managing partner or the only
general partners of which are, such Person and one or more Subsidiaries of such Person (or a
combination thereof). Unless otherwise specified, “Subsidiary” means a Subsidiary of the Company.

     “substantially concurrent” means with respect to any two events, such events occur within 45
days of each other.

     “TIA” means the Trust Indenture Act of 1939 (15 U.S.C. sections 77aaa-77bbbb) as in effect on
the Issue Date, except as provided by Section 9.05.

     “Treasury Rate” means, as of any Redemption Date, the yield to maturity as of such Redemption
Date of United States Treasury securities with a constant maturity (as compiled and published in
the most recent Federal Reserve Statistical Release H.15 (519) that has become publicly available
at least two Business Days prior to the Redemption Date (or, if such Statistical Release is no
longer published, any publicly available source of similar market data)) most nearly equal to the
period from the Redemption Date to October 1, 2013; provided, however, that if the period from the
Redemption Date to October 1, 2013 is less than one year, the weekly average yield on actually
traded United States Treasury securities adjusted to a constant maturity of one year will be used.

     “Trigger Date” means the date that is the same day of the month as the Issue Date eighteen
(18) months after the Issue Date.

     “Trustee” means the Person named as the “Trustee” in the first paragraph of this Indenture
until a successor Trustee shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter “Trustee” shall mean such successor Trustee.

     “2017 Convertible Notes” means the Company’s 7.00% Convertible Senior Notes due 2017, issued
on or about the Issue Date.

     “U.S. Government Obligations” means obligations issued or directly and fully guaranteed or
insured by the United States of America or by any agent or instrumentality thereof, provided that
the full faith and credit of the United States of America is pledged in support thereof.

-25-

 

     “Unrestricted Subsidiary” means any Subsidiary that at the time of determination has
previously been designated, and continues to be, an Unrestricted Subsidiary in accordance with
Section 4.19.

     “Voting Stock” means, with respect to any Person, Capital Stock of any class or kind
ordinarily having the power to vote for the election of directors, managers or other voting members
of the governing body of such Person.

     “Wholly Owned” means with respect to any Restricted Subsidiary, a Restricted Subsidiary all of
the outstanding Capital Stock of which (other than any director’s qualifying shares) is owned by
the Company and one or more Wholly Owned Restricted Subsidiaries (or a combination thereof).

     Section 1.02 Other Definitions.

	 	 	 	 	 
	Term	 	Defined in Section
	Act

	 	 	1.08	 
	Additional Interest

	 	 	6.02	 
	Affiliate Transaction

	 	 	4.10	 
	Agent Members

	 	 	3.13	 
	Applicable Premium

	 	 	10.01	 
	Authentication Order

	 	 	3.03	 
	Bankruptcy Default

	 	 	6.01	 
	Cash Interest

	 	 	3.01	 
	Change of Control Payment

	 	 	4.12	 
	Covenant Defeasance

	 	 	12.03	 
	Defaulted Interest

	 	 	3.07	 
	Event of Default

	 	 	6.01	 
	Excess Proceeds

	 	 	4.09	 
	Expiration Date

	 	 	1.08	 
	Global Notes

	 	 	2.01	 
	Legal Defeasance

	 	 	12.02	 
	Offer to Purchase

	 	 	4.12	 
	Place of Payment

	 	 	3.01	 
	Permitted Credit Facility Debt

	 	 	4.06	 
	Permitted Debt

	 	 	4.06	 
	Permitted Refinancing Debt

	 	 	4.06	 
	Physical Note

	 	 	2.01	 
	Purchase Date

	 	 	4.12	 
	refinance

	 	 	4.06	 
	Register

	 	 	3.05	 
	Registrar

	 	 	3.05	 
	Related Party Transaction

	 	 	4.10	 
	Repurchase Deadline

	 	 	4.12	 
	Restricted Payment

	 	 	4.07	 

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	Term	 	Defined in Section
	Suspended Covenants

	 	 	4.12	 

     Section 1.03 Rules of Construction.

For all purposes of this Indenture, except as otherwise expressly provided or unless the
context otherwise requires:

          (a) the terms defined in this Indenture have the meanings assigned to them in this Indenture;

          (b) “or” is not exclusive;

          (c) all accounting terms not otherwise defined herein have the meanings assigned to them in
accordance with GAAP and, unless expressly provided otherwise, all determinations and computations
made pursuant to any provision hereof shall be made in accordance with GAAP;

          (d) the words “herein,” “hereof” and “hereunder” and other words of similar import refer to
this Indenture as a whole and not to any particular Article, Section or other subdivision;

          (e) all references to “$” or “dollars” shall refer to the lawful currency of the United States
of America;

          (f) the words “include,” “included” and “including” as used herein shall be deemed in each
case to be followed by the phrase “without limitation,” if not expressly followed by such phrase or
the phrase “but not limited to”;

          (g) words in the singular include the plural, and words in the plural include the singular;
and

          (h) any reference to a Section or Article refers to such Section or Article of this Indenture
unless otherwise indicated.

     Section 1.04 Incorporation by Reference of TIA. Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by
reference in and made a part of this Indenture. This Indenture is subject to the mandatory
provisions of the TIA, which are incorporated by reference in and made a part of this Indenture.
Any terms incorporated by reference in this Indenture that are defined by the TIA, defined by any
TIA reference to another statute or defined by SEC rule under the TIA, have the meanings so
assigned to them therein. The following TIA terms have the following meanings:

     “indenture securities” means the Notes.

     “indenture security holder” means a Holder.

     “indenture to be qualified” means this Indenture.

-27-

 

     “indenture trustee” or “institutional trustee” means the Trustee.

     “obligor” on the indenture securities means the Company, any Guarantor and any other obligor
on the indenture securities.

     Section 1.05 Conflict with TIA. If any provision hereof limits, qualifies or conflicts with a provision of the TIA that is
required under the TIA to be a part of and govern this Indenture, the latter provision shall
control. If any provision of this Indenture modifies or excludes any provision of the TIA that may
be so modified or excluded, the latter provision shall be deemed (a) to apply to this Indenture as
so modified or (b) to be excluded, as the case may be.

     Section 1.06 Compliance Certificates and Opinions. Upon any application or request by the Company or by any other obligor upon the Notes to
the Trustee to take any action under any provision of this Indenture, the Company or such other
obligor upon the Notes, as the case may be, shall furnish to the Trustee such certificates and
opinions as may be required under the TIA. Each such certificate or opinion shall be given in the
form of one or more Officer’s Certificates, if to be given by an Officer, or an Opinion of Counsel,
if to be given by counsel, and shall comply with the requirements of the TIA and any other
requirements set forth in this Indenture. Notwithstanding the foregoing, in the case of any such
request or application as to which the furnishing of any Officer’s Certificate or Opinion of
Counsel is specifically required by any provision of this Indenture relating to such particular
request or application, no additional certificate or opinion need be furnished.

     Every certificate or opinion with respect to compliance with a condition or covenant provided
for in this Indenture except for certificates provided for in Section 4.05 shall include:

          (a) a statement that the individual signing such certificate or opinion has read such covenant
or condition and the definitions herein relating thereto;

          (b) a brief statement as to the nature and scope of the examination or investigation upon
which the statements or opinions contained in such certificate or opinion are based;

          (c) a statement that, in the opinion of such individual, he or she made such examination or
investigation as is necessary to enable him or her to express an informed opinion as to whether or
not such covenant or condition has been complied with; and

          (d) a statement as to whether, in the opinion of such individual, such condition or covenant
has been complied with.

     Section 1.07 Form of Documents Delivered to Trustee. In any case where several matters are required to be certified by, or covered by an opinion
of, any specified Person, it is not necessary that all such matters be certified by, or covered by
the opinion of, only one such Person, or that they be so certified or covered by only one document,
but one such Person may certify or give an opinion with respect to some matters and one or more
other such Persons as to other matters, and any such Person may certify or give an opinion as to
such matters in one or several documents.

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     Any certificate or opinion of an Officer may be based, insofar as it relates to legal matters,
upon a certificate or opinion of, or representations by, counsel, unless such Officer knows that
the certificate or opinion or representations with respect to the matters upon which his
certificate or opinion is based are erroneous. Any such certificate or opinion of counsel may be
based, insofar as it relates to factual matters, upon a certificate or opinion of, or
representations by, an Officer or Officers to the effect that the information with respect to such
factual matters is in the possession of the Company, unless such counsel knows that the certificate
or opinion or representations with respect to such matters are erroneous, and may contain customary
exceptions and qualifications.

     Where any Person is required to make, give or execute two or more applications, requests,
consents, certificates, statements, opinions or other instruments under this Indenture, they may,
but need not, be consolidated and form one instrument.

     Section 1.08 Acts of Holders; Record Dates.

          (a) Any request, demand, authorization, direction, notice, consent, waiver or other action
provided by this Indenture to be given or taken by Holders may be embodied in and evidenced by one
or more instruments of substantially similar tenor signed by such Holders in person or by agent
duly appointed in writing; and, except as herein otherwise expressly provided, such action shall
become effective irrevocably as to the Holder when such instrument or instruments are delivered to
the Trustee, and, where it is hereby expressly required, to the Company. Such instrument or
instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred
to as the “Act” of the Holders signing such instrument or instruments. Proof of execution of any
such instrument or of a writing appointing any such agent shall be sufficient for any purpose of
this Indenture and (subject to Section 7.01) conclusive in favor of the Trustee, the Company and
any other obligor upon the Notes, if made in the manner provided in this Section 1.08.

          (b) The fact and date of the execution by any Person of any such instrument or writing may be
proved by the affidavit of a witness of such execution or by the certificate of any notary public
or other officer authorized by law to take acknowledgments of deeds, certifying that the individual
signing such instrument or writing acknowledged to him the execution thereof. Where

 such execution is by an officer of a corporation or a member of a partnership or other entity,
on behalf of such corporation or partnership or other entity, such certificate or affidavit shall
also constitute sufficient proof of such Person’s authority. The fact and date of the execution of
any such instrument or writing, or the authority of the person executing the same, may also be
proved in any other manner that the Trustee deems sufficient.

          (c) The ownership of Notes shall be conclusively established by the Register.

          (d) Any request, demand, authorization, direction, notice, consent, waiver or other action by
the Holder of any Note shall bind the Holder of every Note issued upon the transfer thereof or in
exchange therefor or in lieu thereof, in respect of anything done or suffered to be done by the
Trustee, the Company or any other obligor on the Notes in reliance thereon, whether or not notation
of such action is made upon such Note.

-29-

 

          (e) (i) The Company may set any day as a record date for the purpose of determining the
Holders of Outstanding Notes entitled to give, make or take any request, demand, authorization,
direction, notice, consent, waiver or other action provided or permitted by this Indenture to be
given, made or taken by Holders, provided that the Company may not set a record date for, and the
provisions of this paragraph shall not apply with respect to, the giving or making of any notice,
declaration, request or direction referred to in Section 1.08(e)(ii). If any record date is set
pursuant to this paragraph, the Holders of Outstanding Notes on such record date (or their duly
designated proxies), and no other Holders, shall be entitled to take the relevant action, whether
or not such Persons remain Holders after such record date; provided that no such action shall be
effective hereunder unless taken on or prior to any applicable Expiration Date by Holders of the
requisite principal amount of Outstanding Notes on such record date. Nothing in this paragraph
shall be construed to prevent the Company from setting a new record date for any action for which a
record date has previously been set pursuant to this paragraph (whereupon the record date
previously set shall automatically and with no action by any Person be cancelled and of no effect,
whether or not the Expiration Date, if any, with respect to a Record Date has previously passed),
and nothing in this paragraph shall be construed to render ineffective any action taken by Holders
of the requisite principal amount of Outstanding Notes on the date such action is taken. Promptly
after any record date is set pursuant to this paragraph, the Company, at its own expense, shall
cause notice of such record date, the proposed action by Holders and the applicable Expiration Date
to be given to the Trustee in writing and to each Holder in the manner set forth in Section 1.10.

               (ii) The Trustee may set any day as a record date for the purpose of determining the Holders of
Outstanding Notes entitled to join in the giving or making of (w) any Notice of Default, (x) any
declaration of acceleration referred to in Section 6.02, (y) any request to institute proceedings
referred to in Section 6.06(2), or (z) any direction referred to in Section 6.05, in each case with
respect to Notes, and shall set an Expiration Date for such Acts. If any record date is set
pursuant to this paragraph, the Holders of Outstanding Notes on such record date, and no other
Holders, shall be entitled to join in such notice, declaration, request or direction, whether or
not such Holders remain Holders after such record date; provided that no such action shall be
effective hereunder unless taken on or prior to the applicable Expiration Date by Holders of the
requisite principal amount of Outstanding Notes on such record date. Nothing in this paragraph shall be
construed to prevent the Trustee from setting a new record date for any action for which a record
date has previously been set pursuant to this paragraph (whereupon the record date previously set
shall automatically and with no action by any Person be cancelled and of no effect), and nothing in
this paragraph shall be construed to render ineffective any action taken by Holders of the
requisite principal amount of Outstanding Notes on the date such action is taken. Promptly after
any record date is set pursuant to this paragraph, the Trustee, at the expense of the Company,
shall cause notice of such record date, the proposed action by Holders and the applicable
Expiration Date to be given to the Company in writing and to each Holder in the manner set forth in
Section 1.10.

               (iii) With respect to any record date set pursuant to this Section 1.08, the party hereto that
sets such record dates may designate any day as the “Expiration Date” and from time to time may
change the Expiration Date to any earlier or later day; provided that no such change shall be
effective unless notice of the proposed new Expiration Date is given to the Company

-30-

 

or the Trustee (whichever such party is not setting a record date pursuant to this Section l.08(e)) in writing,
and to each Holder in the manner set forth in Section 1.10, on or prior to the existing Expiration
Date. If an Expiration Date is not designated with respect to any record date set pursuant to this
Section, the party hereto that set such record date shall be deemed to have initially designated
the 180th day after such record date as the Expiration Date with respect thereto, subject to its
right to change the Expiration Date as provided in this paragraph. Notwithstanding the foregoing,
no Expiration Date shall be later than the 180th day after the applicable record date.

               (iv) Without limiting the foregoing, a Holder entitled hereunder to take any action hereunder
with regard to any particular Note may do so with regard to all or any part of the principal amount
of such Note or by one or more duly appointed agents each of which may do so pursuant to such
appointment with regard to all or any part of such principal amount, provided however, that unless
otherwise expressly stated in such Holder’s Act, any Act shall be deemed to have been given with
respect to the entire principal amount of such Holders Note or Notes.

     Section 1.09 Notices, Etc., to Trustee and Company. Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or
other document provided or permitted by this Indenture to be made upon, given or furnished to, or
filed with,

          (a) the Trustee by any Holder or by the Company or any other obligor upon the Notes shall be
sufficient for every purpose hereunder if made, given, furnished or filed in writing to or with the
Trustee at the Corporate Trust Office (telephone: (212) 815-4779; facsimile: (732) 667-9185, or at
any other address furnished in writing to the Company by the Trustee), or

          (b) the Company by the Trustee or by any Holder shall be sufficient for every purpose
hereunder if in writing and delivered in person or mailed, first-class postage prepaid, to the
Company at 343 State Street, Rochester, New York 14650, Attention: General Counsel (facsimile:
(585) 724-9549) and Attention: Treasurer (facsimile: (585) 724-5174), with copies to Wilson Sonsini
Goodrich & Rosati, Professional Corporation, 650 Page Mill Road, Palo Alto, California 94304, Attention: Larry W. Sonsini, Esq. (facsimile: (650) 493-6811), or at any other address
previously furnished in writing to the Trustee by the Company.

          (c) The Trustee agrees to accept and act upon instructions or directions pursuant to this
Indenture sent by unsecured e-mail, facsimile transmission or other similar unsecured electronic
methods; provided, however, that (i) the party providing such written instructions, subsequent to
such transmission of written instructions, shall provide the originally executed instructions or
directions to the Trustee in a timely manner, and (ii) such originally executed instructions or
directions shall be signed by an authorized representative of the party providing such instructions
or directions. The Trustee shall not be liable for any losses, costs or expenses arising directly
or indirectly from the Trustee’s reliance upon and compliance with such instructions. The party
providing electronic instructions agrees to assume all risks arising out of the use of such
electronic methods to submit instructions and directions to the Trustee, including without
limitation the risk of the Trustee acting on unauthorized instructions, and the risk or
interception and misuse by third parties.

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     Section 1.10 Notices to Holders; Waivers. Where this Indenture provides for notice to Holders of any event, such notice shall be
deemed to have been given upon the mailing by first class mail, postage prepaid, of such notices to
Holders at their registered addresses as recorded in the Register, not later than the latest date,
and not earlier than the earliest date, prescribed herein for the giving of such notice. In any
case where notice to Holders is given by mail, neither the failure to mail such notice, nor any
defect in any notice so mailed, to any particular Holder shall affect the sufficiency of such
notice with respect to other Holders.

     Where this Indenture provides for notice in any manner, such notice may be waived in writing
by the Person entitled to receive such notice, either before or after the event, and such waiver
shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the
Trustee, but such filing shall not be a condition precedent to the validity of any action taken in
reliance upon such waiver.

     In case, by reason of the suspension of regular mail service, or by reason of any other cause,
it shall be impossible to mail notice of any event as required by any provision of this Indenture,
then such notification as shall be made with the approval of the Trustee (such approval not to be
unreasonably withheld) shall constitute a sufficient notification for every purpose hereunder.

     Section 1.11 Effect of Headings and Table of Contents. The Article and Section headings herein and the Table of Contents are for convenience only
and shall not affect the construction hereof.

     Section 1.12 Successors and Assigns. All covenants and agreements in this Indenture by the Company shall bind its respective
successors and assigns, whether so expressed or not.

     Section 1.13 Severability Clause. In case any provision in this Indenture or in the Notes shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions shall not in
any way be affected or impaired thereby.

     Section 1.14 Benefits of Indenture. Nothing in this Indenture or in the Notes, express or implied, shall give to any Person,
other than the parties hereto and their successors hereunder, any Paying Agent and the Holders, any
benefit or any legal or equitable right, remedy or claim under this Indenture.

     Section 1.15 Governing Law. THIS INDENTURE, THE NOTES AND THE NOTE GUARANTIES SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO ANY PRINCIPLES OF
CONFLICT OF LAWS TO THE EXTENT THAT THE APPLICATION OF THE LAW OF ANOTHER JURISDICTION WOULD BE
REQUIRED THEREBY. TO THE EXTENT PERMITTED BY LAW, THE TRUSTEE, THE COMPANY, THE GUARANTORS, ANY
OTHER OBLIGORS IN RESPECT OF THE NOTES AND (BY THEIR ACCEPTANCE OF THE NOTES) THE HOLDERS, AGREE TO
SUBMIT TO THE NON-EXCLUSIVE JURISDICTION OF ANY

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UNITED STATES FEDERAL OR STATE COURT LOCATED IN THE
BOROUGH OF MANHATTAN, IN THE CITY OF NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR
RELATING TO THIS INDENTURE OR THE NOTES.

     Section 1.16 Legal Holidays. In any case where any Interest Payment Date, Redemption Date or Stated Maturity of any Note
shall not be a Business Day, then (notwithstanding any other provision of this Indenture or of the
Notes) payment of interest or principal and premium (if any) need not be made on such date, but may
be made on the next succeeding Business Day with the same force and effect as if made on the
Interest Payment Date or Redemption Date, or at the Stated Maturity.

     Section 1.17 No Liability of Directors, Officers, Employees, Incorporators, Members and
Stockholders. No director, officer, employee, incorporator, member or stockholder of the Company or any
Guarantor or any of their Affiliates, as such, will have any liability for any obligations of the
Company or such Guarantor under the Notes, any Note Guaranty or this Indenture or for any claim
based on, in respect of, or by reason of, such obligations. Each Holder of Notes by accepting
a Note waives and releases all such liability. The waiver and release are part of the consideration
for issuance of the Notes and the Note Guaranties.

     Section 1.18 Exhibits and Schedules. All exhibits and schedules attached hereto are by this reference made a part hereof with
the same effect as if herein set forth in full.

     Section 1.19 Counterparts. This Indenture may be executed in any number of counterparts, each of which shall be an
original; but such counterparts shall together constitute but one and the same instrument.

     Section 1.20 Waiver of Jury Trial. EACH OF THE COMPANY, THE GUARANTORS AND THE TRUSTEE HEREBY IRREVOCABLY WAIVE, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL
PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTION CONTEMPLATED
HEREBY.

     Section 1.21 Force Majeure. In no event shall the Trustee be responsible or liable for any failure or delay in the
performance of its obligations hereunder arising out of or caused by, directly or indirectly,
forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts
of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of
God, and interruptions, loss or malfunctions of utilities, communications or computer (software and
hardware) services; it being understood that the Trustee shall use reasonable efforts which are
consistent with accepted practices in the banking industry to resume performance as soon as
practicable under the circumstances.

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ARTICLE 2

NOTE FORMS

     Section 2.01 Forms Generally; Legends.

          (a) The Notes and the Trustee’s certificate of authentication relating thereto shall be in
fully registered form and in substantially the forms set forth, or referenced, in Exhibit A annexed
hereto and in this Article 2. The Notes may have such appropriate insertions, omissions,
substitutions, notations, legends, endorsements, identifications and other variations as are
required or permitted by law, stock exchange rule or depository rule or usage, the certificate of
incorporation, bylaws or other similar governing instruments of the Company, agreements to which
the Company is subject, if any, or other customary usage, or as may consistently herewith be
determined by the Officers of the Company executing such Notes, as evidenced by such execution
(provided always that any such notation, legend, endorsement, identification or variation is in a
form acceptable to the Company and the Trustee).

     Notes shall be issued initially in the form of one or more permanent global Notes in
substantially the form set forth in Exhibit A (the “Global Notes”), registered in the name of the
nominee of the Depositary, deposited with the Trustee, as custodian for the Depositary or its
nominee, duly executed by the Company and authenticated by the Trustee as hereinafter provided. The
aggregate principal amount of the Global Notes may from time to time be increased or decreased by
adjustments made on the records of the Trustee, as custodian for the Depositary or its nominee, as
provided in Section 3.12.

     Notes issued pursuant to Section 3.05 and Section 3.12 in exchange for or upon transfer of
beneficial interests in the Global Notes shall be in the form of permanent certificated Notes in
substantially the form set forth in Exhibit A (the “Physical Notes”), as hereinafter provided.

          (b) (1) Except as otherwise provided in paragraph (c), Section 3.13(c), each Original Note
will bear the Restricted Legend.

               (2) Each Global Note will bear the DTC Legend.

               (3) Notes will be issued in the form of Global Notes only, except as provided in
Section 3.12(b).

               (4) Each Note will bear the OID Legend.

               (5) Each Note will bear the Second Lien Legend.

          (c) (1) If the Company determines (upon the advice of counsel and such other certifications
and evidence as the Company may reasonably require) that a Note is eligible for resale pursuant to
Rule 144(d) under the Securities Act (or a successor provision) and that the Restricted

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Legend is
no longer necessary or appropriate in order to ensure that subsequent transfers of the Note (or a
beneficial interest therein) are effected in compliance with the Securities Act, or

               (2) after any Note bearing the Restricted Legend is sold pursuant to an effective registration
statement under the Securities Act, pursuant to the Registration Rights Agreement or otherwise,

the Company may instruct the Trustee to cancel the Note and issue to the Holder thereof (or to its
transferee) a new Note (through the facilities of the Depositary with respect to all or a portion
of Notes represented by a Global Note) of like tenor and amount, registered in the name of the
Holder
thereof (or its transferee), that does not bear the Restricted Legend, and the Trustee will comply
with such instruction.

          (d) By its acceptance of any Note bearing the Restricted Legend (or any beneficial interest in
such a Note), each Holder thereof and each owner of a beneficial interest therein acknowledges the
restrictions on transfer of such Note (and any such beneficial interest) set forth in this
Indenture and in the Restricted Legend and agrees that it will transfer such Note (and any such
beneficial interest) only in accordance with this Indenture and such legend.

     Section 2.02 Form of Trustee’s Certificate of Authentication.  The Trustee’s certificate of authentication shall be in substantially the following form:

     This is one of the Notes referred to in the within-mentioned Indenture.

	 	 	 	 	 
	 	

THE BANK OF NEW YORK MELLON,

as Trustee

 	 
	Dated:                                          	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 

     If an appointment of an Authenticating Agent is made pursuant to Section 7.15, the Notes may
have endorsed thereon, in lieu of the Trustee’s certificate of authentication, an alternative
certificate of authentication in the following form:

     This is one of the Notes referred to in the within-mentioned Indenture.

	 	 	 	 	 
	 	THE BANK OF NEW YORK MELLON,

as Trustee

 	 
	 	By:  	 	 
	 	 	As Authenticating Agent 	 
	 	 	 	 
	 	By:  	
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 

Dated:                                         

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ARTICLE 3

THE NOTES

     Section 3.01 Title and Terms.  The Notes shall be known and designated as the “10.50% Senior Notes Due 2017” of the
Company. The final Stated Maturity of the Notes shall be October 1, 2017. Interest on the
Outstanding principal amount of Notes will accrue at the rate of (x) 10.00% per annum entirely
in cash (“Cash Interest”) and (y) 0.50% per annum in the form of PIK Interest and will be payable
semiannually in arrears on April 1 and October 1 in each year (each such April 1 and October 1 an
“Interest Payment Date”), commencing on April 1, 2010, to Holders of record at the close of
business on the immediately preceding March 15 and September 15, respectively (each such March 15
and September 15 a “Regular Record Date”). Interest on the Notes will accrue from the most recent
date to which interest has been paid or duly provided for or, if no interest has been paid, from
the Issue Date; provided that if any Note is surrendered for exchange on or after a record date for
an Interest Payment Date that will occur on or after the date of such exchange, interest on the
Note received in exchange thereof will accrue from the date of such Interest Payment Date. The
Company will pay interest on overdue principal and, to the extent lawful, on overdue installments
of interest at the interest rate referred to above. Payments (including principal (including PIK
Interest), premium, if any, and interest) in respect of the Notes shall be subject to all
applicable withholding taxes.

     In connection with the payment of PIK Interest in respect of the Notes, the Company is
entitled to, without the consent of the Holders and without regard to Section 4.06, increase the
outstanding principal amount of the Notes under this Indenture.

     On any Interest Payment Date with respect to a Global Note, the Trustee shall increase the
principal amount of such Global Note by an amount equal to the PIK Interest paid, rounded up to the
nearest $1.00, for the relevant interest period on the principal amount of such Global Note as of
the relevant Record Date for such Interest Payment Date, to the credit of the Holders on such
Record Date, pro rata in accordance with their interests, and an adjustment shall be made on the
books and records of the Trustee (if it is then the Custodian for such Global Note) with respect to
such Global Note, by the Trustee or the Custodian, to reflect such increase. Following an increase
in the principal amount of the outstanding Notes as a result of PIK Interest, the Notes will bear
Cash Interest and PIK Interest on such increased principal amount from and after the date of such
Interest Payment Date.

     The principal (including any PIK Interest) of, and premium, if any, and interest on the Notes
shall be payable at the Corporate Trust Office or at the office or agency of the Company maintained
for that purpose (each, a “Place of Payment”) in the manner provided in Section 4.01(b); provided,
however, that, under the circumstances set forth in Section 4.01(b), payment of interest on a Note
may be made by wire transfer of immediately available funds to the account specified by the Holder
of a Global Note or by check mailed to the address of the Person entitled thereto as such address
shall appear in the Register.

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     All the Notes shall vote and consent together on all matters as one class, and none of the
Notes will have the right to vote or consent as a class separate from one another on any matter.
All references to “Notes” for all purposes of this Indenture include any PIK Interest that is
actually paid, and references to “principal amount” of the Notes includes any increase in the
principal amount of the outstanding Notes as a result of PIK Interest.

     Section 3.02 Denominations.  Other than increases in the principal amount of Notes in respect of PIK Interest, the Notes
shall be issuable only in registered form without coupons and only in denominations of $2,000 and
higher integral multiples of $1,000.

     Section 3.03 Execution, Authentication and Delivery and Dating.  The Notes shall be executed on behalf of the Company by an Officer of such Company. The
signature of such Officer on the Notes may be manual or facsimile.

     Notes bearing the manual or facsimile signature of an individual who was at any time a proper
Officer of the Company shall bind the Company, notwithstanding that such individual has ceased to
hold such office prior to the authentication and delivery of such Notes or did not hold such office
at the date of such Notes.

     At any time and from time to time after the execution and delivery of this Indenture, the
Company may deliver Notes executed by the Company to the Trustee for authentication; and the
Trustee shall authenticate and deliver Notes for original issue in the aggregate principal amount
not to exceed $300,000,000 (plus any PIK Interest), upon a written order of the Company in the form
of an Officer’s Certificate (an “Authentication Order”). Such Officer’s Certificates shall specify
the amount of Notes to be authenticated and the date on which the Notes are to be authenticated,
whether the Notes are to be issued as one or more Global Notes or Physical Notes, the name or names
of the Holder or Holders and such other information as the Company may include or the Trustee may
reasonably request.

     In authenticating such Notes, and accepting the additional responsibilities under this
Indenture in relation to such Notes, the Trustee shall receive and shall rely upon:

          (a) A copy of the resolution or resolutions of the Board of Directors in or pursuant to which
the terms and form of the Notes were established, certified by the Secretary or an Assistant
Secretary of the Company to have been duly adopted by the Board of Directors and to be in full
force and effect as of the date of such certificate, and if the terms and form of such Notes are
established by an Officer’s Certificate pursuant to general authorization of the Board of
Directors, such Officer’s Certificate;

          (b) an executed supplemental indenture, if required;

          (c) an Officer’s Certificate delivered in accordance with Section 1.06; and

          (d) an Opinion of Counsel which shall state:

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               (i) that the form of such Notes has been established by a supplemental indenture or by or
pursuant to a resolution of the Board of Directors in accordance with Sections 2.01 and 2.02 and in
conformity with the provisions of this Indenture;

               (ii) that the terms of such Notes have been established in accordance with Section 2.01 and in
conformity with the other provisions of this Indenture; and

               (iii) that such Notes, when authenticated and delivered by the Trustee and issued by the
Company in the manner and subject to any conditions specified in such Opinion of Counsel, will
constitute valid and legally binding obligations of the Company, enforceable in accordance with
their terms, subject to bankruptcy, insolvency, reorganization and other laws of general
applicability relating to or affecting the enforcement of creditors’ rights and to general equity
principles.

     All Notes shall be dated the date of their authentication.

     One Business Day prior to any Interest Payment Date on which the Company pays PIK Interest
with respect to a Note, the Company will deliver to the Trustee an Officer’s Certificate
documenting the payment of interest with respect to the Notes and the current cumulative principal
amount of the Notes. The Company will pay all interest whether or not such Officer’s Certificate
is delivered.

     No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for
any purpose, unless there appears on such Note a certificate of authentication substantially in the
form provided for herein executed by the Trustee by manual signature, and such certificate upon any
Note shall be conclusive evidence, and the only evidence, that such Note has been duly
authenticated and delivered hereunder.

     Section 3.04 Temporary Notes. Until definitive Notes are ready for delivery, the Company may prepare and, upon receipt of
an Authentication Order, the Trustee shall authenticate temporary Notes. Temporary Notes shall be
substantially in the form of definitive Notes but may have variations that the Company considers
appropriate for temporary Notes as may be reasonably acceptable to the Trustee. If temporary Notes
are issued, the Company will cause definitive Notes to be prepared without unreasonable delay.
After the preparation of definitive Notes, the temporary Notes shall be exchangeable for definitive
Notes upon surrender of the temporary Notes at the office or agency of the Company in a Place of
Payment, without charge to the Holder. Upon surrender for cancellation of any one or more temporary
Notes, the Company shall execute and, upon receipt of an Authentication Order, the Trustee shall
authenticate and deliver in exchange therefor a like principal amount of definitive Notes of
authorized denominations. Until so exchanged the temporary Notes shall in all respects be entitled
to the same benefits under this Indenture as definitive Notes of the same series and tenor.

     Section 3.05 Registration, Registration of Transfer and Exchange. The Company shall cause to be kept at the Corporate Trust Office of the Trustee a register
(the register maintained in such office and in any other office or agency of the Company in a Place
of Payment being herein

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sometimes collectively referred to as the “Register”) in which, subject to
such reasonable regulations as it may prescribe, the Company shall provide for the registration of
Notes and of transfers of Notes. The Trustee is hereby appointed “Registrar” for the purpose
of registering Notes and transfers of Notes as herein provided. The Register shall be maintained
in written form or in any other form capable of being reproduced in written form in a reasonable
period of time. The Register shall be conclusive evidence of the ownership of any Note.

     Upon surrender for transfer of any Note at the office or agency of the Company in a Place of
Payment, in compliance with all applicable requirements of this Indenture and applicable law, the
Company shall execute, and the Trustee shall authenticate and deliver, in the name of the
designated transferee or transferees, one or more new Notes, of any authorized denominations and of
a like aggregate principal amount.

     At the option of the Holder, in compliance with all applicable requirements of this Indenture
and applicable laws, Notes may be exchanged for other Notes, of any authorized denominations and of
a like tenor and aggregate principal amount, upon surrender of the Notes to be exchanged at such
office or agency. Whenever any Notes are so surrendered for exchange, the Company shall execute,
and the Trustee shall authenticate and deliver, the Notes that the Holder making the exchange is
entitled to receive.

     All Notes issued upon any registration of transfer or exchange of Notes shall be the valid
obligations of the Company, evidencing the same debt, and entitled to the same benefits under this
Indenture, as the Notes surrendered upon such registration of transfer or exchange.

     Every Note presented or surrendered for registration of transfer or exchange shall (if so
required by the Company or the Registrar) be duly endorsed, or be accompanied by a written
instrument of transfer, in form satisfactory to the Company and the Registrar duly executed, by the
Holder thereof or such Holder’s attorney duly authorized in writing.

     No service charge shall be made for any registration of transfer or exchange or redemption of
Notes, but the Company may require payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in connection with any registration of transfer or exchange
of Notes under this Section 3.05. Nothing herein shall preclude any tax withholding required by
law or regulation.

     Section 3.06 Mutilated, Destroyed, Lost and Stolen Notes. If (a) any mutilated Note is surrendered to the Trustee, or the Company and the Trustee
receive evidence to their satisfaction of the destruction, loss or theft of any Note, and (b) there
is delivered to the Company and the Trustee such security or indemnity as may be required by them
to save each of them harmless from any loss, liability, cost or expense caused by or in connection
with such substitution, then, in the absence of notice to the Company or the Trustee that such Note
has been acquired by a bona fide purchaser, the Company shall execute and upon receipt of an
Authentication Order the Trustee shall authenticate and deliver, in exchange for or in lieu of any
such mutilated, destroyed, lost or stolen Note, a new Note of like tenor and principal amount,
bearing a number not contemporaneously Outstanding.

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     In case any such mutilated, destroyed, lost or stolen Note has become or is about to become
due and payable, the Company in its discretion may, instead of issuing a new Note, pay such Note.

     Upon the issuance of any new Note under this Section 3.06, the Company may require the payment
of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation
thereto and any other expenses (including the fees and expenses of the Trustee) connected
therewith.

     Every new Note issued pursuant to this Section 3.06 in lieu of any mutilated, destroyed, lost
or stolen Note shall constitute an original additional contractual obligation of the Company,
whether or not the mutilated, destroyed, lost or stolen Note shall be at any time enforceable by
anyone, and shall be entitled to all the benefits of this Indenture equally and ratably with any
and all other Notes duly issued hereunder.

     The provisions of this Section 3.06 are exclusive and shall preclude (to the extent lawful)
all other rights and remedies with respect to the replacement or payment of mutilated, destroyed,
lost or stolen Notes.

     Section 3.07 Payment of Interest Rights Preserved. Interest on any Note that is payable, and is punctually paid or duly provided for, on any
Interest Payment Date shall be paid to the Person in whose name that Note (or one or more
predecessor Notes) is registered at the close of business on the Regular Record Date for such
interest specified in Section 3.01.

     Any cash interest on any Note that is payable, but is not punctually paid or duly provided
for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be
payable to the registered Holder on the relevant Regular Record Date by virtue of having been such
Holder; and such Defaulted Interest shall be paid by the Company, as provided in Section 3.07(a) or
Section 3.07(b) below:

          (a) The Company may elect to make payment of any Defaulted Interest to the Persons in whose
names the Notes (or their respective predecessor Notes) are registered at the close of business on
a Special Record Date for the payment of such Defaulted Interest, which shall be fixed as provided
in this Section 3.07(a). The Company shall notify the Trustee in writing of the amount of Defaulted
Interest proposed to be paid on each Note and the date of the proposed payment, and at the same
time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount
proposed to be paid in respect of such Defaulted Interest or shall make arrangements reasonably
satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money
when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted
Interest as provided in this Section 3.07(a). Thereupon the Trustee shall fix a Special Record Date
for the payment of such Defaulted Interest which shall be not more than 15 nor less than 10 days
prior to the date of the proposed payment and not less than 10 days after the receipt by the
Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of
such Special Record Date and, in the name and at the expense of the Company, shall
cause notice of the proposed payment of such Defaulted Interest, the amount thereof and the
Special Record Date and payment date therefor to be delivered to each Holder not less than 10 days
prior to

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such Special Record Date. Notice of the proposed payment of such Defaulted Interest and
the Special Record Date therefor having been so delivered, such Defaulted Interest shall be paid to
the Persons in whose names the Notes (or their respective predecessor Notes) are registered on such
Special Record Date and shall no longer be payable pursuant to the following Section 3.07(b).

          (b) The Company may make payment of any Defaulted Interest in any other lawful manner not
inconsistent with the requirements of any securities exchange on which the Notes may be listed, and
upon such notice as may be required by such exchange, if, after notice given by the Company to the
Trustee of the proposed payment pursuant to this clause (b), such payment shall be deemed
practicable by the Trustee.

     Subject to the foregoing provisions of this Section 3.07, each Note delivered under this
Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall
carry the rights to interest accrued and unpaid, and to accrue, that were carried by such other
Note.

     Section 3.08 Persons Deemed Owners. Prior to due presentment of a Note for registration of transfer, the Company, the Trustee
and any agent of the Company or the Trustee may treat the Person in whose name such Note is
registered as the owner of such Note for the purpose of receiving payment of principal of (and
premium, if any, on) and (subject to Section 3.07) interest on such Note, whether at Stated
Maturity, any Redemption Date or otherwise, and for all other purposes whatsoever, whether or not
such Note be overdue, and none of the Company, the Guarantors, the Trustee or any agent of the
Company, the Guarantors or the Trustee shall be affected by notice to the contrary.

     Section 3.09 Cancellation. All Notes surrendered for payment, redemption, registration of transfer or exchange shall,
if surrendered to any Person other than the Trustee, be delivered to the Trustee and, if not
already cancelled, shall be promptly cancelled by it. The Company may at any time deliver to the
Trustee for cancellation any Notes previously authenticated and delivered hereunder that the
Company may have acquired in any manner whatsoever, and all Notes so delivered shall be promptly
cancelled by the Trustee. No Notes shall be authenticated in lieu of or in exchange for any Notes
cancelled as provided in this Section 3.09, except as expressly permitted by this Indenture and all
Notes so cancelled shall cease to be Outstanding for all purposes. All cancelled Notes held by the
Trustee shall be disposed of in accordance with the Trustee’s customary procedures.

     Section 3.10 Computation of Interest. Interest on the Notes shall be computed on the basis of a 360-day year of twelve 30-day
months.

     Section 3.11 CUSIP Numbers. The Company in issuing the Notes may use “CUSIP” or “CINS” numbers (if then generally in
use) in addition to serial numbers, and, if so, the Trustee shall use such “CUSIP” or “CINS”
numbers in addition to serial numbers in notices of redemption, repurchase or other notices to
Holders as a convenience to Holders; provided that any such notice may state that no representation
is made as to the correctness of such “CUSIP” or “CINS” numbers either as printed on the Notes or
as contained in any notice of a redemption or repurchase and that reliance may be placed only on
the serial or other identification numbers printed on the Notes, and

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any such redemption or
repurchase shall not be affected by any defect in or omission of such numbers. The Company will
promptly notify the Trustee of any change in the “CUSIP” or “CINS” numbers.

     Section 3.12 Book-entry Provisions for Global Notes.

          (a) Each Global Note initially shall (i) be registered in the name of the Depositary for such
Global Notes or the nominee of such Depositary, and (ii) be delivered to the Trustee as custodian
for such Depositary. None of the Company or the Guarantors, nor any of their agents shall have any
responsibility or liability for any aspect of the records relating to, or payments made on account
of beneficial ownership interests of, a Global Note, or for maintaining, supervising or reviewing
any records relating to such beneficial ownership interests.

     Members of, or participants in, the Depositary (“Agent Members”) shall have no rights under
this Indenture with respect to any Global Note, and the Depositary may be treated by the Company,
the Guarantors, the Trustee and any agent of the Company, the Guarantors or the Trustee as the
absolute owner of such Global Note for all purposes whatsoever. Notwithstanding the foregoing,
nothing herein shall prevent the Company, the Guarantors, the Trustee or any agent of the Company,
the Guarantors or the Trustee from giving effect to any written certification, proxy or other
authorization furnished by the Depositary or impair, as between the Depositary and its Agent
Members, the operation of customary practices governing the exercise of the rights of a beneficial
owner of any Note. The registered Holder of a Global Note may grant proxies and otherwise authorize
any Person, including Agent Members and persons that may hold interests through Agent Members, to
take any action which a Holder is entitled to take under this Indenture or the Notes.

          (b) Interests of beneficial owners in a Global Note may be transferred in accordance with the
applicable rules and procedures of the Depositary. Transfers of a Global Note shall be limited to
transfers of such Global Note in whole, but not in part, to the Depositary, its successors or their
respective nominees, except that Physical Notes shall be transferred to all beneficial owners in
exchange for their beneficial interests in a Global Note in the event that (A) the Depositary
notifies the Company that it is unwilling or unable to continue as Depositary for the applicable
Global Note and a successor depositary is not appointed by the Company within 90 days or (B) an
Event of Default has occurred and is continuing and the Registrar has received a request from the
Depositary. In addition, beneficial interests in a Global Note may be exchanged for Physical Notes
upon request but only upon at least 20 days’ prior written notice given to the Trustee by or on
behalf of the Depositary in accordance with customary procedures and subject to 3.13(b). In
connection with any transfer or exchange of a portion of the beneficial interest in any Global Note
to
beneficial owners for Physical Notes pursuant to this Section 3.12(b), the Registrar shall
record on its books and records (and make a notation on the Global Note of) the date and a decrease
in the principal amount of such Global Note in an amount equal to the beneficial interest in the
Global Note being transferred, and the Company shall execute, and the Trustee shall authenticate
and deliver, one or more Physical Notes of like tenor and principal amount of authorized
denominations. In connection with a transfer of an entire Global Note to beneficial owners pursuant
to this paragraph (b), the applicable Global Note shall be deemed to be surrendered to the Trustee
for cancellation, and

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the Company shall execute, and the Trustee shall authenticate and deliver, to
each beneficial owner identified by the Depositary in exchange for its beneficial interest in the
applicable Global Note, an equal aggregate principal amount at maturity of Physical Notes of
authorized denominations.

          (c) Any beneficial interest in one of the Global Notes that is transferred to a person who
takes delivery in the form of an interest in another Global Note will, upon transfer, cease to be
an interest in such Global Note and become an interest in the other Global Note and, accordingly,
will thereafter be subject to all procedures applicable to beneficial interests in such other
Global Note for as long as it remains such an interest.

          (d) The Company, the Guarantors, any other obligor upon the Notes or the Trustee, in the
discretion of any of them, may treat as the Act of a Holder any instrument or writing of any Person
that is identified by the Depositary as the owner of a beneficial interest in the Global Note,
provided that the fact and date of the execution of such instrument or writing is proved in
accordance with Section 1.08(b).

     Section 3.13 Restrictions on Transfer and Exchange.

          (a) The transfer or exchange of any Note (or a beneficial interest therein) may only be made
in accordance with this Section, Section 3.05 and Section 3.12 and, in the case of a Global Note
(or a beneficial interest therein), the applicable rules and procedures of the Depositary. The
Trustee shall refuse to register any requested transfer or exchange that does not comply with the
preceding sentence.

          (b) Subject to paragraph (c), the transfer or exchange of any Note (or a beneficial interest
therein) of the type set forth in column A below for a Note (or a beneficial interest therein) of
the type set forth opposite in column B below may only be made in compliance with the certification
requirements (if any) described in the clause of this paragraph set forth opposite in column C
below.

	 	 	 	 	 
	A	 	B	 	C
	Global Note
	 	Global Note
	 	(1)
	 	 	 	 	 
	Global Note
	 	Physical Note
	 	(2)
	 	 	 	 	 
	Physical Note
	 	Physical Note
	 	(2)
	 	 	 	 	 
	Physical Note
	 	Global Note
	 	(3)

     (1) No certification is required.

     (2) The Person requesting the transfer or exchange must deliver or cause to be delivered to
the Trustee a duly completed Rule 144A Certificate, and/or an Opinion of Counsel and such other

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certifications and evidence as the Company may reasonably require in order to determine that the
proposed transfer or exchange is being made in compliance with the Securities Act and any
applicable securities laws of any state of the United States; provided that if the requested
transfer or exchange is made by the Holder of a Physical Note that does not bear the Restricted
Legend, then no certification is required. In the event that a Physical Note that does not bear the
Restricted Legend is surrendered for transfer or exchange, upon transfer or exchange the Trustee
will deliver a Physical Note that does not bear the Restricted Legend.

     (3) The Person requesting the transfer or exchange must deliver or cause to be delivered to
the Trustee a duly completed Rule 144A Certificate.

          (c) No certification is required in connection with any transfer or exchange of any Note (or a
beneficial interest therein):

               (1) after such Note is eligible for resale pursuant to Rule 144(d) under the Securities Act
(or a successor provision); provided that the Company has provided the Trustee with an Officer’s
Certificate to that effect, and the Company may require from any Person requesting a transfer or
exchange in reliance upon this clause (1) an Opinion of Counsel and any other reasonable
certifications and evidence in order to support such certificate; or

               (2) sold pursuant to an effective registration statement, pursuant to the Registration Rights
Agreement or otherwise.

Any Physical Note delivered in reliance upon this clause (c) will not bear the Restricted Legend.

          (d) The Trustee will retain copies of all certificates, opinions and other documents received
in connection with the transfer or exchange of a Note (or a beneficial interest therein), and the
Company will have the right to inspect and make copies thereof at any reasonable time upon written
notice to the Trustee.

     Section 3.14 Deposit of Moneys. Prior to 10:00 a.m., New York City time, on each Interest Payment Date and Stated Maturity
Date, the Company shall have deposited with the Paying Agent in immediately available funds money
sufficient to make cash payments, if any, due on such Interest Payment Date or Stated Maturity
Date, as the case may be, in a timely manner which permits the Trustee to remit payment to
the Holders on such Interest Payment Date or Stated Maturity Date, as the case may be. The
principal and interest on Global Notes shall be payable to the Depositary or its nominee, as the
case may be, as the sole registered owner and the sole Holder of the Global Notes represented
thereby. The principal and interest on Physical Notes shall be payable, either in person or by
mail, at the office of the Paying Agent.

ARTICLE 4

COVENANTS

     Section 4.01 Payment of Principal, Premium and Interest.

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          (a) The Company will duly and punctually pay the principal of (and premium, if any) and
interest on the Notes in accordance with the terms of the Notes and this Indenture. An installment
of principal (including any PIK Interest) (and premium, if any) or cash interest shall be
considered paid on the date it is due if the Trustee or Paying Agent or Paying Agents hold on that
date money designated for and sufficient to pay the installment. PIK Interest shall be considered
paid on the date due if, in accordance with the terms of the Notes, the principal amount of the
applicable Notes is increased in an amount equal to the amount of the applicable PIK Interest.

          (b) Payments (including principal, premium, if any, and interest) in respect of the Notes
represented by the Global Notes, the Holder of which has given wire transfer instructions on or
prior to the relevant record date, shall be made by wire transfer of immediately available funds to
the accounts specified by the Global Note Holder. With respect to Physical Notes, the Company will
make all payments of principal, premium, if any, and cash interest at the office or agency
maintained by the Company referred to in Section 4.02 or, at the option of the Company, by mailing
a check to each such Holder’s registered address.

     Section 4.02 Maintenance of Office or Agency. The Company will maintain an office or agency where Notes may be presented or surrendered
for payment, where Notes may be surrendered for transfer or exchange and where notices and demands
to or upon the Company in respect of the Notes and this Indenture may be served. The Company will
give prompt written notice to the Trustee of the location, and of any change in the location, of
such office or agency. If at any time the Company shall fail to maintain such office or agency or
shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices
and demands may be made or served at the Corporate Trust Office of the Trustee. The Company hereby
designates the Corporate Trust Office as an initial Place of Payment and as such office of the
Company, and appoints the Trustee as its agent to receive all such presentations, surrenders,
notices and demands so long as such Corporate Trust Office remains a Place of Payment.

     Section 4.03 Money for Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent, it will, on or before each
due date of the principal of (and premium, if any) or interest on, any of the Notes, segregate and
hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal
(and premium, if any) or cash interest so becoming due until such sums shall be paid to such
Persons or otherwise disposed of as herein provided, and will promptly notify the Trustee of its
action or failure so to act.

     If the Company is not acting as its own Paying Agent, it will, prior to each due date of the
principal of (and premium, if any) or interest on, any Notes, deposit with a Paying Agent a sum
sufficient to pay the principal (and premium, if any) or cash interest so becoming due, such sum to
be held in trust for the benefit of the Persons entitled to such principal, premium or interest,
and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its
action or failure so to act.

     If the Company is not acting as its own Paying Agent, the Company will cause any Paying Agent
other than the Trustee to execute and deliver to the Trustee an instrument in which such

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Paying
Agent shall agree with the Trustee, subject to the provisions of this Section 4.03, that such
Paying Agent will:

          (a) hold all sums held by it for the payment of principal (which shall include any PIK
Interest) of (and premium, if any) or cash interest on Notes in trust for the benefit of the
Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as
herein provided;

          (b) give the Trustee notice of any default by the Company (or any other obligor upon the
Notes) in the making of any such payment of principal (and premium, if any) or cash interest;

          (c) at any time during the continuance of any such default, upon the written request of the
Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent; and

          (d) acknowledge, accept and agree to comply in all respects with the provisions of this
Indenture and TIA relating to the duties, rights and liabilities of such Paying Agent.

     The Company may at any time, for the purpose of obtaining the satisfaction and discharge of
this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay,
to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by
the Trustee upon the same trusts as those upon which such sums were held by the Company or such
Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be
released from all further liability with respect to such money.

     Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in
trust for the payment of the principal of (and premium, if any) or interest on any Note and
remaining unclaimed for two years after such principal (and premium, if any) or interest has become
due and
payable shall be paid in the appropriate proportion to the Company upon a Company Request, or
(if then held by the Company) shall be discharged from such trust; and the Holder of such Note
shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof,
and all liability of the Trustee or such Paying Agent with respect to such trust money, and all
liability of the Company as trustee thereof, shall thereupon cease.

     Section 4.04 SEC Reports.

          (a) Whether or not the Company is subject to the reporting requirements of Section 13 or 15(d)
of the Exchange Act, so long as any Notes are outstanding, the Company must provide the Trustee and
the Holders of the Notes, within 15 days after it is or would be required to file such reports with
the SEC with (i) all quarterly and annual financial information that would be required to be
contained in a filing with the SEC on Forms 10-Q and 10-K if the Company were required to file such
forms, including a “Management’s Discussion and Analysis of Financial Condition and Results of
Operations” and, with respect to annual information only, a report thereon by the Company’s
certified independent public accountants, and (ii) all current reports that would be

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required to be
filed with the SEC on Form 8-K if the Company were required to file such reports. For the
avoidance of doubt, such information and reports referred to in clauses (i) and (ii) above shall
not be required to contain separate financial information for Guarantors or Subsidiaries whose
securities are pledged to secure the notes that would be required under Rule 3-10 or Rule 3-16 of
Regulation S-X promulgated by the SEC.

          (b) To the extent permitted by the TIA, the Company shall be deemed to have complied with this
covenant, and shall be deemed to have provided such documents to the Holders, to the extent the
Company has filed or furnished documents and reports referred to in clauses (a)(i) and (ii) above
with the SEC via the EDGAR system or any successor electronic delivery procedures within the time
periods specified in Section 4.04(a).

          (c) For so long as any of the notes remain outstanding and constitute “restricted securities”
under Rule 144, the Company will furnish to the holders of the notes and prospective investors,
upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) under the
Securities Act.

          (d) Compliance with the foregoing shall constitute delivery by the Company of such reports to
the Trustee in compliance with this Section 4.04. The Trustee shall have no duty to search for or
obtain any electronic or other filings that the Company makes with the SEC, regardless of whether
such filings are periodic, supplemental or otherwise. Delivery of such reports, information and
documents to the Trustee pursuant to this Section 4.04 is for informational purposes only and the
Trustee’s receipt of such shall not constitute constructive notice of any information contained
therein or determinable from information contained therein, including the Company’s compliance with
any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on
Officer’s Certificates).

     Section 4.05 Certificates to Trustee.

          (a) The Company will deliver to the Trustee within 90 days after the end of each fiscal year a
certificate stating that no Default then exists under this Indenture or, if a Default then exists,
specifying the Default and its nature and status; and

          (b) The Company will deliver to the Trustee, as soon as possible and in any event within 30
days after the Company becomes aware or should reasonably become aware of the occurrence of a
Default, an Officer’s Certificate setting forth the details of the Default, and the action which
the Company proposes to take with respect thereto.

     Section 4.06 Limitation on Debt and Disqualified or Preferred Stock.

          (a) The Company

               (i) will not, and will not permit any of its Restricted Subsidiaries to, Incur any Debt; and

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               (ii) will not, and will not permit any Restricted Subsidiary to, Incur any Disqualified Stock,
and will not permit any of its Restricted Subsidiaries to Incur any Preferred Stock (other than
Disqualified Stock or Preferred Stock of Restricted Subsidiaries held by the Company or a
Restricted Subsidiary, so long as it is so held);

provided that the Company or any Guarantor may Incur Debt and the Company or any Guarantor may
Incur Disqualified Stock and any Guarantor may Incur Preferred Stock if, on the date of the
Incurrence, after giving effect to the Incurrence and the receipt and application of the proceeds
therefrom, the Fixed Charge Coverage Ratio is not less than 2.0:1.0.

          (b) Notwithstanding the foregoing, the Company and, to the extent provided below, any
Restricted Subsidiary may Incur the following (“Permitted Debt”):

               (i) (A) Debt of the Company or any Restricted Subsidiary pursuant to Credit Facilities
(“Permitted Credit Facility Debt”); provided that the aggregate principal amount of any Debt under
this clause (A) at any time outstanding shall not exceed (x) the greater of (i) $500,000,000 minus
any amount of any Permitted Credit Facility Debt permanently repaid under Section 4.09(a)(iii) and
(ii) the Borrowing Base Amount minus the principal amount of the Notes Outstanding, minus (y) the
amount of any Permitted Receivables Financing outstanding; provided, further, that prior to the
Trigger Date, the amount of Debt outstanding under this clause (A) shall not exceed $500,000,000
minus (I) any amount of Permitted Credit Facility Debt permanently repaid under Section 4.09 and
(II) the amount of any Permitted Receivables Financing outstanding, and (B) Guarantees of such Debt
by the Company or any Restricted Subsidiary;

               (ii) Debt of the Company or any Restricted Subsidiary (other than a Securitization Subsidiary)
to the Company or any Restricted Subsidiary so long as such Debt continues to be owed to the
Company or a Restricted Subsidiary;

               (iii) Debt of the Company pursuant to the Notes (including any Debt represented by PIK
Interest) and Debt of any Guarantor pursuant to a Note Guaranty of the Notes;

               (iv) Debt (“Permitted Refinancing Debt”) constituting an extension or renewal of, replacement
of or substitution for, or issued in exchange for, or the net proceeds of which are used to repay,
redeem, repurchase, refinance or refund, including by way of defeasance (all of the above, for
purposes of this clause, “refinance”) then outstanding Debt, in whole or in part, in an amount not
to exceed the principal amount and accrued interest of the Debt so refinanced, plus premiums,
commissions, costs, fees and expenses; provided that:

                    (A) in case the Debt to be refinanced is subordinated in right of payment to the Notes, the
new Debt, by its terms or by the terms of any agreement or instrument pursuant to which it is
outstanding, is expressly made subordinate in right of payment to the Notes at least to the extent
that the Debt to be refinanced is subordinated to the Notes,

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                    (B) the new Debt does not have a Stated Maturity prior to the Stated Maturity of the Debt to
be refinanced, and the Average Life of the new Debt is at least equal to the remaining Average Life
of the Debt to be refinanced,

                    (C) in no event may Debt of the Company or any Guarantor be refinanced pursuant to this clause
by means of any Debt of any Restricted Subsidiary that is not a Guarantor unless such Restricted
Subsidiary was an obligor on the Debt being refinanced, and

                    (D) Debt Incurred pursuant to clauses (i), (ii), (v), (vi), (x), (xi), (xii), (xiv), (xv),
(xvi), (xvii), (xviii), (xix) and (xx) may not be refinanced pursuant to this clause;

               (v) Hedging Agreements of the Company or any Restricted Subsidiary entered into in the
ordinary course of business for the purpose of limiting risks associated with the business of the
Company and its Restricted Subsidiaries and not for speculation;

               (vi) Debt of the Company or any Restricted Subsidiary with respect to letters of credit, bank
guarantees, and bankers’ acceptances issued in the ordinary course of business, including letters
of credit supporting performance, surety or appeal bonds, and indemnification, adjustment of
purchase price (including earn-outs) or similar obligations incurred in connection with the
acquisition or disposition of any stock, business or assets;

               (vii) Acquired Debt;

               (viii) Debt of the Company or any Restricted Subsidiary outstanding on the Issue Date (for
purposes of clause (iv)(D), not otherwise constituting Permitted Debt);

               (ix) Debt of the Company or any Restricted Subsidiary, which may include Capital Leases,
Incurred on or after the Issue Date no later than 365 days after the date of purchase or completion
of construction or improvement of property for the purpose of financing or refinancing all or any
part of the purchase price or cost of construction or improvement, provided that the principal
amount of any Debt Incurred pursuant to this clause may not exceed (A) $200,000,000 less (B) the
aggregate outstanding amount of Permitted Refinancing Debt Incurred to refinance Debt Incurred
pursuant to this clause;

               (x) Debt of any Restricted Subsidiary organized under the laws of, or substantially all of the
business of which is conducted in, the People’s Republic of China in an aggregate amount not to
exceed $200,000,000 at any time outstanding;

               (xi) Debt of Kodak International Finance Limited, a company organized and existing under the
laws of England, Incurred to finance its short term working capital needs, in an aggregate amount
not to exceed $100,000,000 at any time outstanding;

               (xii) Debt of the Company or any Restricted Subsidiary consisting of Guarantees of Debt of the
Company or any Restricted Subsidiary Incurred under any other clause of this Section 4.06;

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               (xiii) Debt of the Company consisting of the 2017 Convertible Notes in an aggregate principal
amount not to exceed $400,000,000, including the principal amount of 2017 Convertible Notes issued
pursuant to the exercise of the over-allotment option provided to the underwriters or initial
purchasers thereof;

               (xiv) unsecured Debt consisting of Guarantees of amounts owing by customers of the Company and
its Subsidiaries under equipment and vendor financing programs in an aggregate amount not to exceed
$75,000,000 at any time outstanding;

               (xv) Debt of any Foreign Restricted Subsidiary in an aggregate principal amount not to exceed
$50,000,000 at any time outstanding;

               (xvi) any Permitted Receivables Financing in an aggregate principal amount at any time
outstanding not to exceed (A) the greater of (1) $500,000,000 minus any amount of such Debt
permanently repaid as provided under Section 4.09(a)(iii) and (2) the Borrowing Base Amount minus
the principal amount of the Notes Outstanding, minus (B) the amount of Debt Incurred under clause
(i) outstanding at such time;

               (xvii) Debt of the Company or any Restricted Subsidiary Incurred on or after the Issue Date
not otherwise permitted in an aggregate principal amount not to exceed $50,000,000 at any time
outstanding;

               (xviii) Debt consisting of Guarantees of obligations (other than Debt) of suppliers, licensors
or franchisees in the ordinary course of business;

               (xix) Debt of the Company or a Restricted Subsidiary to the extent the net proceeds thereof
are promptly deposited to defease or discharge the Notes as set forth under Article 12; and

               (xx) Debt of the Company or a Restricted Subsidiary consisting of Guarantees in respect of
obligations of joint ventures as to which the Company or a Restricted Subsidiary is a joint venture
partner; provided that the aggregate principal amount of Debt incurred pursuant to this clause (xx)
shall not exceed $100,000,000 outstanding at any time.

          (c) Notwithstanding any other provision of this Section 4.06, for purposes of determining
compliance with this section, increases in Debt solely due to fluctuations in the exchange rates of
currencies will not be deemed to exceed the maximum amount that the Company or a Restricted
Subsidiary may Incur under this section. For purposes of determining compliance with any U.S.
dollar-denominated restriction on the Incurrence of Debt, the U.S. dollar-equivalent principal
amount of Debt denominated in a foreign currency shall be calculated based on the relevant currency
exchange rate in effect on the date such Debt was Incurred; provided that if such Debt is Incurred
to refinance other Debt denominated in a foreign currency, and such refinancing would cause the
applicable U.S. dollar-denominated restriction to be exceeded if calculated at the relevant
currency exchange rate in effect on the date of such refinancing, such U.S. dollar-denominated
restriction shall be deemed not to have been exceeded so long as the principal amount of such

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refinancing Debt does not exceed the principal amount of such Debt being refinanced. The principal
amount of any Debt Incurred to refinance other Debt, if Incurred in a different currency from the
Debt being refinanced, shall be calculated based on the currency exchange rate applicable to the
currencies in which such respective Debt is denominated that is in effect on the date of such
refinancing.

          (d) In the event that an item of Debt meets the criteria of more than one of the types of Debt
described in this Section 4.06, the Company, in its sole discretion, will classify items of Debt
and will only be required to include the amount and type of such Debt in one of such clauses and
the Company will be entitled to divide and classify an item of Debt in more than one of the types
of Debt described in Section 4.06, and may change the classification of an item of Debt (or any
portion thereof) to any other type of Debt described in Section 4.06 at any time; provided that
Debt under the Credit Agreement outstanding on the Issue Date shall be deemed at all times to be
incurred under clause (i) of Permitted Debt. For purposes of determining any particular amount of
Debt described in the Section 4.06, Guarantees, liens or obligations, in each case, in support of
letters of credit supporting Debt shall not be included to the extent such letters of credit are
included in the amount of Debt.

          (e) Accrual of interest or dividends, the accretion of accreted value, the accretion or
amortization of original issue discount and the payment of interest or dividends in kind will not
be deemed to be an Incurrence of Debt for purposes of this section but will be included in
subsequent calculations of the amount of outstanding Debt for purposes of Incurring future Debt.

          (f) Neither the Company nor any Guarantor may Incur any Debt that is subordinate in right of
payment to other Debt of the Company or the Guarantor unless such Debt is
also subordinate in right of payment to the Notes or the relevant Note Guaranty, as the case
may be, to the extent and in the same manner as such Debt is subordinated to other Debt. This does
not apply to distinctions between categories of Debt that exist by reason of any Liens or
Guarantees securing or in favor of some but not all of such Debt otherwise permitted hereunder. For
purposes of this Indenture (i) unsecured Debt shall not be deemed subordinated or junior to secured
Debt merely because it is unsecured or (ii) senior Debt shall not be deemed subordinated or junior
to any other senior Debt merely because it has a junior priority with respect to the same
collateral.

     Section 4.07 Limitation on Restricted Payments.

          (a) The Company will not, and will not permit any Restricted Subsidiary to (the payments and
other actions described in the following clauses being collectively “Restricted Payments”):

               (i) declare or pay any dividend or make any distribution on its Equity Interests (other than
dividends or distributions paid in the Company’s Qualified Equity Interests) held by Persons other
than the Company or any of its Restricted Subsidiaries;

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               (ii) purchase, redeem or otherwise acquire or retire for value any Equity Interests of the
Company or any Restricted Subsidiary held by Persons other than the Company or any of its
Restricted Subsidiaries;

               (iii) repay, redeem, repurchase, defease or otherwise acquire or retire for value, or make any
payment on or with respect to, any Subordinated Debt except (A) a payment of interest or principal
at Stated Maturity or (B) the repayment, redemption, repurchase, defeasance or other acquisition or
retirement for value, or the payment of Subordinated Debt in anticipation of satisfying a sinking
fund obligation, principal installment or final maturity, in each case, within one year of such
repayment, redemption, repurchase, defeasance or other acquisition or retirement for value; or

               (iv) make any Investment other than a Permitted Investment;

unless, at the time of, and after giving effect to, the proposed Restricted Payment:

     (1) no Default has occurred and is continuing,

     (2) the Company could Incur at least $1.00 of Debt under the Fixed Charge Coverage Ratio set
forth in Section 4.06(a), and

     (3) the aggregate amount expended for all Restricted Payments made on or after the Issue Date
would not, subject to paragraph (c), exceed the sum of

          (A) 50% of the aggregate amount of the Consolidated Net Income accrued on a cumulative basis
during the period, taken as one accounting period, beginning on the first day of the fiscal quarter
during which the Issue Date occurs and ending on the last day of the Company’s most recently
completed fiscal quarter for which internal financial statements are available at the time of such
Restricted Payment, or in the case such Consolidated Net Income for such period is a deficit, minus
100% of such deficit, plus

          (B) subject to paragraph (c), the aggregate net cash proceeds and Fair Market Value of any
property or assets received by the Company (other than from a Subsidiary) on or after the Issue
Date from the issuance and sale of its Qualified Equity Interests, including by way of issuance of
its Disqualified Equity Interests or Debt to the extent since converted into Qualified Equity
Interests of the Company, plus

          (C) an amount equal to the sum, for all Unrestricted Subsidiaries, of the following:

          (x) the cash return, after the Issue Date, on Investments in an Unrestricted Subsidiary
made after the Issue Date pursuant to this paragraph (a) as a result of any sale for cash,
repayment, redemption, liquidating distribution or other cash realization (to the extent not
included in Consolidated Net Income), plus

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          (y) the portion (proportionate to the Company’s or Restricted Subsidiary’s, as
applicable, equity interest in such Subsidiary) of the Fair Market Value of the assets less
liabilities of an Unrestricted Subsidiary at the time such Unrestricted Subsidiary is
designated a Restricted Subsidiary,

not to exceed, in the case of any Unrestricted Subsidiary, the amount of Investments made
after the Issue Date by the Company and its Restricted Subsidiaries in such Unrestricted
Subsidiary pursuant to this paragraph (a), plus

          (D) the cash return, after the Issue Date, on any other Investment made after the Issue Date
pursuant to this paragraph (a), as a result of any sale for cash, repayment, redemption,
liquidating distribution or other cash realization (to the extent not included in Consolidated Net
Income), not to exceed the amount of such Investment so made.

The amount expended in any Restricted Payment, if other than in cash, will be deemed to be the Fair
Market Value of the relevant non-cash assets, as determined in good faith by the Board of Directors
of the Company or an executive officer of the Company, whose determination will be conclusive if so
determined and, if made by the Board of Directors of the Company, evidenced by a Board Resolution.

          (b) The foregoing will not prohibit:

               (i) the payment of any dividend or distribution within 60 days after the date of declaration
thereof if, at the date of declaration, such payment would comply with paragraph (a);

               (ii) the accrual, declaration and payment of dividends or distributions by a Restricted
Subsidiary, on a pro rata basis or on a basis more favorable to the Company or to the Restricted
Subsidiary that is the parent of such Restricted Subsidiary, as the case may be, to all holders of
any class of Capital Stock of such Restricted Subsidiary a majority of which is held, directly or
indirectly through Restricted Subsidiaries, by the Company;

               (iii) the repayment, redemption, repurchase, defeasance or other acquisition or retirement for
value of Subordinated Debt or Disqualified Stock with the proceeds of, or in exchange for,
Permitted Refinancing Debt;

               (iv) the purchase, redemption or other acquisition or retirement for value of Equity Interests
of the Company or any Restricted Subsidiary in exchange for, or out of the proceeds of a
substantially concurrent offering of, Qualified Equity Interests of the Company;

               (v) the repayment, redemption, repurchase, defeasance or other acquisition or retirement of
Subordinated Debt or Disqualified Stock of the Company in exchange for, or out of the proceeds of,
a substantially concurrent offering of, Qualified Equity Interests of the Company;

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               (vi) any Investment made in exchange for, or out of the net cash proceeds of, a substantially
concurrent offering of Qualified Equity Interests of the Company;

               (vii) the purchase, redemption or other acquisition or retirement for value of Equity
Interests of the Company held by officers, directors or employees or former officers, directors or
employees (or their estates or beneficiaries under their estates), upon death, disability,
retirement, severance or termination of employment or pursuant to any agreement under which the
Equity Interests were issued; provided that the aggregate cash consideration paid therefor in any
twelve-month period after the Issue Date does not exceed an aggregate amount of $5,000,000;

               (viii) the repurchase of any Subordinated Debt or Disqualified Stock at a purchase price not
greater than 101% of the principal amount thereof in the event of (A) a change of control pursuant
to a provision not materially more favorable to the holders thereof than Article Section 4.12 or
(B) an Asset Sale pursuant to a provision not materially more favorable to the holders thereof than
Section 4.09, provided that, in each case, prior to the repurchase the Company has made an Offer to
Purchase and repurchased all Notes that were validly tendered for payment in connection with the
Offer to Purchase;

               (ix) other Restricted Payments in an aggregate amount not to exceed $100,000,000;

               (x) repurchases or other acquisitions of Equity Interests deemed to occur upon exercise of
stock options or warrants or upon the vesting of restricted stock or restricted stock units if such
Equity Interests represent the exercise price of such options or warrants or represent withholding
taxes due upon such exercise or vesting;

               (xi) the purchase of fractional shares of Capital Stock of the Company arising out of stock
dividends, splits or combinations or mergers, consolidations or other acquisitions or the payment
of cash in lieu of fractional shares upon the exercise of warrants, options or other securities
convertible into or exercisable for Capital Stock of the Company;

               (xii) in connection with any acquisition by the Company or by any of its Restricted
Subsidiaries, the receipt or acceptance of the return to the Company or any of its Restricted
Subsidiaries of Capital Stock of the Company or any Restricted Subsidiaries constituting a portion
of the purchase price consideration in settlement of indemnification claims or as a result of a
purchase price adjustment (including earn-outs and similar obligations);

               (xiii) the distribution of rights pursuant to any customary shareholder rights plan or the
redemption of such rights in accordance with the terms of any such shareholder rights plan; and

               (xiv) payments or distributions to stockholders of a Person acquired by the Company or a
Restricted Subsidiary (the shareholders of which are not Affiliates of the Company) pursuant to
appraisal rights required under applicable law in connection with any merger, consolidation or
other acquisition by the Company or any Restricted Subsidiary;

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provided that, in the case of clauses (vi), (vii) and (ix) no Default has occurred and is
continuing or would occur as a result thereof.

          (c) Proceeds of the issuance of Qualified Equity Interests will be included under clause (3)
of paragraph (a) only to the extent they are not applied as described in clause (iv), (v) or (vi)
of paragraph (b). Restricted Payments permitted pursuant to clause (i), (ii) but only to the extent
paid to Persons other than the Company or a Restricted Subsidiary, (vi) and (ix) of paragraph (b)
will be included in making the calculations under clause (3) of paragraph (a), and Restricted
Payments permitted pursuant to any other clause of paragraph (b) shall be excluded in the making of
such calculation.

     Section 4.08 Limitation on Dividend and other Payment Restrictions Affecting Restricted
Subsidiaries. (a) Except as provided in paragraph (b), the Company will not, and will not permit any
Restricted Subsidiary to, create or otherwise cause or permit to exist or become effective any
consensual encumbrance or restriction of any kind on the ability of any Restricted Subsidiary to

               (i) pay dividends or make any other distributions on any Equity Interests of the Restricted
Subsidiary owned by the Company or any other Restricted Subsidiary;

               (ii) pay any Debt or other obligation owed to the Company or any other Restricted Subsidiary;

               (iii) make loans or advances to the Company or any other Restricted Subsidiary; or

               (iv) transfer any of its property or assets to the Company or any other Restricted Subsidiary.

          (b) The provisions of paragraph (a) do not apply to any encumbrances or restrictions

               (i) existing on the Issue Date in the Credit Agreement, this Indenture or any other agreements
in effect on the Issue Date, and any extensions, renewals, replacements or refinancings of any of
the foregoing; provided that the encumbrances and restrictions in the extension, renewal,
replacement or refinancing of such agreements are (as determined in good faith by the Company),
taken as a whole, no less favorable in any material respect to the Holders than the encumbrances or
restrictions being extended, renewed, replaced or refinanced;

               (ii) existing under or by reason of applicable law, regulation, order, approval, license,
permit, grant or similar restriction, in each case, issued or imposed by a governmental authority;

               (iii) existing

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                    (A) with respect to any Person, or to the property or assets of any Person, at the time the
Person is acquired by the Company or any Restricted Subsidiary (including those existing by reason
of Acquired Debt), or

                    (B) with respect to any Unrestricted Subsidiary at the time it is designated or is deemed to
become a Restricted Subsidiary,

which encumbrances or restrictions (i) are not applicable to any other Person or the property or
assets of any other Person (other than the Subsidiaries of the Person so acquired) and (ii) were
not put in place in anticipation of such event and any extensions, renewals, replacements or
refinancings of any of the foregoing, provided the encumbrances and restrictions in the extension,
renewal, replacement or refinancing are, taken as a whole, no less favorable in any material
respect to the Holders than the encumbrances or restrictions being extended, renewed, replaced or
refinanced;

               (iv) of the type described in clause (a)(iv) arising or agreed to in the ordinary course of
business (including Debt permitted to be incurred, as set forth under Section 4.06, that imposes
such restrictions) (A) that restrict in a customary manner the subletting, assignment, licensing or
transfer of any property or asset that is subject to a lease, license or other agreement or (B) by
virtue of any Lien on, or agreement to transfer, option or similar right with respect to any
property or assets of, the Company or any Restricted Subsidiary;

               (v) with respect to a Restricted Subsidiary and imposed pursuant to an agreement that has been
entered into for the sale or disposition of all or substantially all of the
Capital Stock of, or property and assets of, the Restricted Subsidiary that is permitted by
this Indenture;

               (vi) consisting of customary restrictions pursuant to any Permitted Receivables Financing;

               (vii) contained in the terms governing any Debt permitted under this Indenture if (as
determined in good faith by the Company) (A) the encumbrances or restrictions are ordinary and
customary for a financing of that type and (B) the encumbrances or restrictions either would not,
at the time agreed to, be expected to materially adversely affect the ability of the Company to
make payments on the Notes or any Guarantor to make payments in respect of its Note Guaranty;

               (viii) required pursuant to this Indenture;

               (ix) consisting of customary provisions in joint venture agreements, leases, licenses,
purchase and sale or merger agreements and other agreements entered into in the ordinary course of
business;

               (x) that exist as a result of Permitted Liens;

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               (xi) under any customary provisions with respect to cash or other deposit or net worth
requirements under agreements, instruments or contracts entered into in the ordinary course of
business;

               (xii) under any agreement, instrument or contract entered into in connection with the
incurrence of Debt of the type described in Section 4.06(b)(xvi); or

               (xiii) any amendments, modifications, restatements, renewals, increases, supplements,
refundings, replacements or refinancings of the contracts, instruments or obligations referred to
in clauses (i) through (xii) above; provided that such amendments, modifications, restatements,
renewals, increases, supplements, refundings, replacements or refinancings are, in the good faith
judgment of the Company, not materially more restrictive as a whole with respect to such
encumbrances and restrictions than those prior to such amendment, modification, restatement,
renewal, increase, supplement, refunding, replacement or refinancing.

     Section 4.09 Limitation on Sales of Assets. (a) The Company will not, and will not permit any Restricted Subsidiary to, make any Asset
Sale unless the following conditions are met:

               (i) The Asset Sale is for at least Fair Market Value, as determined in good faith by the
Company in a manner consistent with its customary practices.

               (ii) At least 75% of the consideration (the valuation thereof to be reasonably determined by
the Company) consists of cash or Cash Equivalents received at closing. For purposes of this clause
(ii), (A) the assumption by the purchaser of Debt or other obligations (other than Subordinated
Debt or other obligations subordinated by their terms in right of payment to the Notes) of the
Company or a Restricted Subsidiary pursuant to a customary novation agreement, and instruments or
securities received from the purchaser that are promptly, but in any event within 180 days of the
closing, converted by the Company to cash, to the extent of the cash actually so received, shall be
considered cash received at closing and (B) any Designated Non-Cash Consideration received by the
Company or a Restricted Subsidiary having an aggregate Fair Market Value (measured at the time
received and without giving effect to any subsequent change in value), taken together with all
other Designated Non-Cash Consideration received pursuant to this clause (B) that has not been
transferred, sold or otherwise exchanged for, or otherwise converted into, cash, not to exceed 5.0%
of the total assets of the Company and its Restricted Subsidiaries at the time of the receipt of
such Designated Non-Cash Consideration, shall be considered cash received at closing.

               (iii) Within 220 days after the receipt of any Net Cash Proceeds from an Asset Sale, the Net
Cash Proceeds may be used at the Company’s option:

                    (A) to permanently repay (1) First-Priority Lien Obligations of the Company or a Guarantor or,
if the assets disposed of were not (and were not required to be) Collateral, any Debt of a
Restricted Subsidiary that is not a Guarantor (and in the case of a revolving credit, permanently
reduce the commitment thereunder by such amount), in each case owing to a Person other than the
Company or any Restricted Subsidiary or (2) Debt of the type described in

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Section 4.06(b)(ix) to
the extent such Debt is secured by the property or assets that are the subject of such Asset Sale,

                    (B) to acquire all or substantially all of the assets of a Permitted Business, or a majority
of the Voting Stock of another Person that thereupon becomes a Restricted Subsidiary engaged in a
Permitted Business, or to make capital expenditures or otherwise acquire Additional Assets, or

                    (C) any combination of clauses (A) through (B) above.

               (iv) The Net Cash Proceeds of an Asset Sale not applied pursuant to clause (iii) within 220
days of the Asset Sale constitute “Excess Proceeds”. Excess Proceeds of less than $50,000,000 will
be carried forward and accumulated. When accumulated Excess Proceeds equal or exceed such amount,
the Company shall, subject to any limitation under the terms of any Permitted Credit Facility Debt,
within 270 days of the date of the Asset Sale that causes accumulated Excess Proceeds to exceed
$50,000,000, make and complete an Offer to Purchase Notes having a principal amount equal to

                    (A) accumulated Excess Proceeds, less costs of the Offer to Purchase, multiplied by

                    (B) a fraction (1) the numerator of which is equal to the Outstanding principal amount of the
Notes and (2) the denominator of which is equal to the sum of the Outstanding principal amount of
the Notes and all Debt secured by Liens on the Collateral of the same priority as the Liens
securing the Notes similarly required to be repaid, redeemed or tendered for in connection with the
Asset Sale,

rounded down to the nearest $1,000. The purchase price for the Notes will be 100% of the principal
amount (including any PIK Interest) plus accrued interest to, but excluding, the date of purchase.
If the Offer to Purchase is for less than all of the Outstanding Notes and Notes in an aggregate
principal amount in excess of the purchase amount are tendered and not withdrawn pursuant to the
offer, the Company will purchase Notes having an aggregate principal amount equal to the purchase
amount on a pro rata basis, with adjustments so that only Notes in multiples of $1,000 principal
amount (and the related PIK Interest in multiples of $1.00) will be purchased. Upon completion of
the Offer to Purchase, the amount of the Excess Proceeds will be reset at zero, and any previously
deemed Excess Proceeds remaining after consummation of the Offer to Purchase may be used for any
purpose not otherwise prohibited by this Indenture.

          (b) The Company will comply with Section 14(e) under the Exchange Act and all securities laws,
rules, regulations and other applicable laws in making any Offer to Purchase, and the above
procedures will be deemed modified as necessary to permit such compliance.

          (c) Pending the application of any such Excess Proceeds, the Company or such Restricted
Subsidiary may use such Excess Proceeds to temporarily reduce revolving indebtedness under a Credit
Facility, if any, or otherwise invest such Excess Proceeds in cash or Cash

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Equivalents. The
provisions relating to the Company’s obligation to make an Offer to Purchase the Notes as described
above may be waived or amended as described in Section 9.02.

     Section 4.10 Limitation on Affiliate Transactions.

          (a) The Company will not, and will not permit any Restricted Subsidiary to, enter into, renew
or extend any transaction or arrangement, including the purchase, sale, lease or exchange of
property or assets, or the rendering of any service, with any Affiliate of the Company or any
Restricted Subsidiary (a “Related Party Transaction”), except upon fair and reasonable terms no
less favorable, taken as a whole, to the Company or the Restricted Subsidiary than could be
obtained in a comparable arm’s-length transaction with a Person that is not an Affiliate of the
Company.

          (b) Any Related Party Transaction or series of Related Party Transactions with an aggregate
value in excess of $50,000,000 must first be approved by a majority of the Board of Directors of
the Company who are disinterested in the subject matter of the transaction pursuant to a Board
Resolution, unless there are no members of the Board of Directors of the Company that are
disinterested in the subject matter of the transaction, in which case such transaction must be
approved by a majority of the Board of Directors of the Company.

          (c) The foregoing paragraphs do not apply to

               (i) any transaction between the Company and any of its Restricted Subsidiaries or between
Restricted Subsidiaries of the Company;

               (ii) the payment of reasonable and customary regular fees to, and the reimbursement of
expenses of, directors of the Company who are not employees of the Company;

               (iii) any Restricted Payments of a type permitted under Section 4.07(a);

               (iv) transactions or payments pursuant to any employee, officer or director compensation,
benefit plans, collective bargaining agreement or other similar arrangements (including vacation,
health, insurance, deferred compensation, retirement, savings, severance, change of control
payments and incentive arrangements or other similar plans) entered into in the ordinary course of
business;

               (v) transactions entered into as part of a Permitted Receivables Financing;

               (vi) transactions pursuant to any contract or agreement in effect on the date of this
Indenture, as amended, modified or replaced from time to time so long as the amended, modified or
new agreements, taken as a whole, are not materially less favorable to the Company and its
Restricted Subsidiaries than those in effect on the date of this Indenture;

               (vii) indemnification or similar arrangements (including director and officer liability
insurance) for officers, directors, employees or agents of the Company or any of its Restricted
Subsidiaries pursuant to charter, bylaw, contractual or statutory provisions;

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               (viii) any transactions between the Company or any of its Restricted Subsidiaries and any
Affiliate of the Company the Equity Interests of which Affiliate are owned solely by the Company or
one of its Restricted Subsidiaries, on the one hand, and by persons who are not Affiliates of the
Company or Restricted Subsidiaries, on the other hand;

               (ix) loans and advances to directors, employees or officers made in the ordinary course of
business in compliance with applicable laws, provided that such loans and advances do not exceed
$25,000,000 in the aggregate at any one time outstanding;

               (x) transactions with persons who are Affiliates of the Company solely as a result of the
Company’s or a Restricted Subsidiary’s Investment in such Person;

               (xi) any transactions as to which the Company has obtained a favorable written opinion from a
nationally recognized investment banking firm as to the fairness of the transaction to the Company
and its Restricted Subsidiaries from a financial point of view; and

               (xii)
any Specified Transaction.

     Section 4.11 Limitation on Liens.

          (a) The Company will not, and will not permit any Restricted Subsidiary to, incur or permit to
exist any Lien of any nature whatsoever on any of its properties or assets, whether owned at the
Issue Date or thereafter acquired, other than Permitted Liens.

          (b) If the Company or any Guarantor creates any additional Lien to secure any First-Priority
Lien Obligations that is not at the time Collateral, it must concurrently grant a second priority
Lien upon such asset as security for the Notes or Note Guaranty, such that the applicable asset
becomes Collateral.

     Section 4.12 Repurchase of Notes upon a Change in Control.

          (a) Upon the occurrence of a Change of Control, each Holder will have the right to require the
Company to repurchase all or any part (equal to $1,000 or an integral multiple thereof) (or in
amounts of $1.00 or whole multiples of $1.00 in excess thereof for PIK Interest amounts) of such
Holder’s Notes pursuant to the offer described below (the “Offer to Purchase”) at an offer price in
cash equal to 101% of the aggregate principal amount thereof (including any PIK Interest) plus
accrued and unpaid interest thereon to, but excluding, the date of purchase (the “Change of Control
Payment”). Within 30 days following any Change of Control unless the Company has on or prior to
such date given a notice to redeemed to the Trustee pursuant to Section 10.02 with respect to all
Outstanding Notes, the Company will deliver, or at the Company’s request the Trustee will deliver,
a notice to each Holder offering to repurchase the Notes held by such Holder pursuant to the
procedures specified in such notice.

          (b) An Offer to Purchase must be made by written offer, which will specify the principal
amount of Notes subject to the offer and the purchase price. The Offer to Purchase must

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specify a
deadline for tendering Notes (the “Repurchase Deadline”) not fewer than 30 days or more than 60
days after the date of the offer and a settlement date for purchase (the “Purchase Date”) not more
than five Business Days after the Repurchase Deadline. The Offer to Purchase shall contain
instructions and materials necessary to enable holders to tender Notes pursuant to the offer in
accordance with this Indenture.

          (c) Holders shall be entitled to withdraw Notes tendered up to the close of business on the
Repurchase Deadline. On the Purchase Date, the Company will, to the extent lawful and subject to
any other conditions permitted pursuant to this Indenture, (1) accept for payment all Notes or
portions thereof properly tendered and not withdrawn pursuant to the Offer to Purchase, (2) deposit
with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or
portions thereof so tendered (which deposit may occur prior to the Purchase Date), and (3) deliver
or cause to be delivered to the Trustee the Notes so accepted together with an Officer’s
Certificate stating the aggregate principal amount of Notes or portions thereof being purchased by
the Company.

     The Paying Agent will promptly mail to each Holder of Notes so tendered the Change of Control
Payment for such Notes, and the Trustee will promptly authenticate and mail (or cause to be
transferred by book entry) to each Holder a Note equal in principal amount (including any PIK
Interest) to any unpurchased portion of the Notes surrendered, if any; provided that each such Note
will be in a principal amount of $1,000 or an integral multiple thereof (or in amounts of $1.00 or
whole multiples of $1.00 in excess thereof for PIK Interest amounts).

          (d) The Company will comply with Section 14(e) under the Exchange Act and all securities laws,
rules, regulations and other applicable laws in making any Offer to Purchase, and the above
procedures will be deemed modified as necessary to permit such compliance.

          (e) The Company will not be required to make an Offer to Purchase upon a Change of Control if
a third party makes the Offer to Purchase in the manner, at the times and otherwise in compliance
with the requirements applicable to an Offer to Purchase upon a Change of Control.

          (f) Notwithstanding anything to the contrary herein, an Offer to Purchase may be made in
advance of a Change of Control, conditional upon the occurrence of such Change of Control, if a
definitive agreement is in place for the Change of Control at the time of making of the Change of
Control Offer.

          (g) The provisions relating to the Company’s obligation to make an Offer to Purchase the Notes
as a result of a Change of Control may be waived or amended as described in Section 9.02.

     Section 4.13 Limitation on Line of Business. The Company will not, and will not permit any of its Restricted Subsidiaries, to engage in
any business other than a Permitted Business, except to an extent that so doing would not be
material to the Company and its Restricted Subsidiaries, taken as a whole.

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     Section 4.14 Limited Applicability of Covenants when Notes are Rated Investment-Grade.

          (a) During any period of time after the Issue Date that (i) the Notes are rated Investment
Grade by each of S&P and Moody’s (or, if either (or both) of S&P and Moody’s have been substituted
in accordance with the definition of “Rating Agencies”), by each of the then applicable Rating
Agencies) and (ii) no Default has occurred and is continuing, the Company and its Restricted
Subsidiaries will not be subject to the covenants in Sections 4.06, 4.07, 4.08, 4.09, 4.10 or
5.01(3) (the “Suspended Covenants”).

          (b) Additionally, at such time as the above referenced covenants are suspended (a “Suspension
Period”), the Company will no longer be permitted to designate any Restricted Subsidiary as an
Unrestricted Subsidiary unless the Company would have been permitted to
designate such Subsidiary as an Unrestricted Subsidiary if a Suspension Period had not been in
effect for any period and such designation shall be deemed to have created a Restricted Payment as
set forth in Section 4.07 following the Reversion Date (as defined below).

          (c) In the event that the Company and its Restricted Subsidiaries are not subject to the
Suspended Covenants for any period of time as a result of the foregoing, and on any subsequent date
(the “Reversion Date”) the condition set forth in clause (i) of the first paragraph of this section
is no longer satisfied, then the Company and its Restricted Subsidiaries will thereafter again be
subject to the Suspended Covenant with respect to future events.

          (d) On each Reversion Date, all Debt incurred during the Suspension Period prior to such
Reversion Date will be deemed to be Debt incurred pursuant to Section 4.06(b)(viii). For purposes
of calculating the amount available to be made as Restricted Payments under Section 4.07(a)(3),
calculations under such covenant shall be made as though such covenant had been in effect during
the entire period of time after the Issue Date (including the Suspension Period). Restricted
Payments made during the Suspension Period not otherwise permitted pursuant under Section 4.07(b)
will reduce the amount available to be made as Restricted Payments under Section 4.07(a), provided
that the amount available to be made as Restricted Payments on the Reversion Date shall not be
reduced to below zero solely as a result of such Restricted Payments.

For purposes of Section 4.09, on the Reversion Date, the amount of Excess Proceeds will be reset to
the amount of Excess Proceeds in effect as of the first day of the Suspension Period ending on such
Reversion Date.

Notwithstanding the foregoing, neither (i) the continued existence, after the Reversion Date, of
facts and circumstances or obligations that were incurred or otherwise came into existence during a
Suspension Period nor (ii) the performance of any such obligations, shall constitute a breach of
any covenant set forth herein or cause a Default or Event of Default thereunder; provided that
(1) the Company and its Restricted Subsidiaries did not incur or otherwise cause such facts and
circumstances or obligations to exist in anticipation of a withdrawal or downgrade by the
applicable Rating Agency below an Investment Grade Rating and (2) the Company reasonably believed
that such incurrence or actions would not result in such withdrawal or downgrade.

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     Section 4.15 Existence. Subject to Articles 4 and 5 of this Indenture, the Company will do or cause to be done all
things necessary to preserve and keep in full force and effect its existence and the existence of
each of its Restricted Subsidiaries in accordance with the respective organizational documents (as
the same may be amended from time to time) of the Company and each such Subsidiary and the material
rights (whether pursuant to charter or statute), licenses and franchises of the Company and each
such Subsidiary; provided that the Company shall not be required by this Section 4.15 to preserve
any such right, license or franchise, or (except in the case of the Company) existence, if the
Company shall determine that the maintenance or preservation thereof is no longer desirable in the
conduct of the business of the Company and its Restricted Subsidiaries taken as a whole.

     Section 4.16 Payment of Taxes and Other Claims. The Company will pay or discharge and shall cause each of its Restricted Subsidiaries to
pay or discharge, or cause to be paid or discharged, before the same shall become delinquent
(a) all material taxes, assessments and governmental charges levied or imposed upon (i) the Company
or any such Subsidiary, (ii) the income or profits of any such Subsidiary which is a corporation or
(iii) the property of the Company or any such Subsidiary and (b) all material lawful claims for
labor materials and supplies that, if unpaid, might by law become a Lien upon the property of the
Company or any such Subsidiary; provided that the Company shall not be required to pay or
discharge, or cause to be paid or discharged, any such tax, assessment, charge or claim the amount,
applicability or validity of which is being contested in good faith by appropriate proceedings and
for which adequate reserves have been established in accordance with GAAP.

     Section 4.17 Maintenance of Properties and Insurance. The Company will cause all material assets necessary in the conduct of its business or the
business of any of its Restricted Subsidiaries, to be maintained and kept in good condition, repair
and working order (ordinary wear and tear excepted) and will cause to be made all necessary
repairs, renewals and replacements thereof, all as in the judgment of the Company may be necessary
so that the business carried on in connection therewith may be properly conducted at all times;
provided that nothing in this Section 4.17 shall prevent the Company or any such Subsidiary from
discontinuing the use, operation or maintenance of any of such assets or disposing or abandoning of
any of them, if such discontinuance, disposal or abandonment is, in the judgment of the Company,
desirable in the conduct of the business of the Company or such Subsidiary.

     The Company will maintain, and will cause each of its Restricted Subsidiaries to maintain
(either in the Company’s name or in such Subsidiary’s own name) insurance on all their respective
properties consistent with the insurance maintained on the Issue Date or otherwise in at least such
amounts (with no materially greater risk retention) and against at least such risks as are usually
maintained, retained or insured against in the same general area by companies of established repute
owning similar properties in such area and engaged in the same or a similar business, in either
case, to the extent available to the Company and its Restricted Subsidiaries on commercially
reasonable terms, provided that the Company and its Subsidiaries may self-insure to the extent
consistent with prudent business practices.

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     Section 4.18 Additional Guarantors. If (a) the Company or any of its Restricted Subsidiaries acquires or creates a Wholly Owned
Domestic Restricted Subsidiary (other than any such Subsidiary that is an Excluded Subsidiary) or
(b) any Wholly Owned Domestic Restricted Subsidiary that is an Excluded Subsidiary ceases to be an
Excluded Subsidiary, such Wholly Owned Domestic Restricted Subsidiary must provide a Note Guaranty
within 30 days after such acquisition or creation or after the date on which such Subsidiary ceases
to be an Excluded Subsidiary, as the case may be, by executing the Supplemental Indenture attached
hereto as Exhibit B.

     Section 4.19 Designation of Restricted and Unrestricted Subsidiaries.

          (a) The Board of Directors of the Company may designate any Subsidiary other than a Designated
Subsidiary, including a newly acquired or created Subsidiary, to be an Unrestricted Subsidiary if
it meets the following qualifications and the designation would not cause a Default:

               (i) Such Subsidiary does not own any Capital Stock of the Company or any Restricted Subsidiary
(other than any Subsidiary of such Subsidiary that is also being designated to be an Unrestricted
Subsidiary) or hold any Debt of, or any Lien on any property of, the Company or any Restricted
Subsidiary (other than any Subsidiary of such Subsidiary that is also being designated to be an
Unrestricted Subsidiary);

               (ii) At the time of the designation, the Company’s or any Restricted Subsidiary’s Investment
in the Subsidiary would be permitted under Section 4.07 as provided in clause (c)(i) below;

               (iii) To the extent the Debt of the Subsidiary is not Non-Recourse Debt, any Guarantee or
other credit support thereof by the Company or any Restricted Subsidiary is permitted under Section
4.06 and Section 4.07;

               (iv) The Subsidiary is not party to any transaction or arrangement with the Company or any
Restricted Subsidiary that would not be permitted under Section 4.10; and

               (v) Neither the Company nor any Restricted Subsidiary has any obligation to subscribe for
additional Equity Interests of the Subsidiary or to maintain or preserve its financial condition or
cause it to achieve specified levels of operating results, except to the extent permitted by
Section 4.06 and Section 4.07.

Once so designated the Subsidiary will remain an Unrestricted Subsidiary, subject to paragraph (b).

          (b) (i) A Subsidiary previously designated an Unrestricted Subsidiary which fails to meet the
qualifications set forth in paragraph (a) will be deemed to become at that time a Restricted
Subsidiary, subject to the consequences set forth in paragraph (d).

               (ii) The Board of Directors of the Company may designate an Unrestricted Subsidiary to be a
Restricted Subsidiary if the designation would not cause a Default.

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          (c) Upon a Restricted Subsidiary becoming an Unrestricted Subsidiary,

               (i) all existing Investments of the Company and the Restricted Subsidiaries therein (valued at
the Company’s proportional share of the Fair Market Value of its assets less liabilities) will be
deemed made at that time; provided that Investments held by any
Person prior to the time such Person becomes a Subsidiary that (A) are Permitted Investments,
or (B) are made pursuant to Section 4.07(a) will not be deemed to be Investments at the time such
Person becomes a Subsidiary and is designated an Unrestricted Subsidiary;

               (ii) all existing Capital Stock or Debt of the Company or a Restricted Subsidiary held by it
will be deemed Incurred at that time, and all Liens on property of the Company or a Restricted
Subsidiary held by it will be deemed incurred at that time;

               (iii) all existing transactions between it and the Company or any Restricted Subsidiary not
described in clauses (i) and (ii) above will be deemed entered into at that time;

               (iv) it is released at that time from its Note Guaranty (if any), and Liens on its assets
securing its Note Guaranty (if any) are released; and

               (v) it will cease to be subject to the provisions of this Indenture as a Restricted
Subsidiary.

          (d) Upon an Unrestricted Subsidiary becoming, or being deemed to become, a Restricted
Subsidiary,

               (i) all of its Debt and Disqualified or Preferred Stock will be deemed Incurred at that time
for purposes of Section 4.06, but will not be considered the sale or issuance of Equity Interests
for purposes of Section 4.09;

               (ii) Investments therein previously taken into account as Restricted Payments under Section
4.07 will be credited thereunder at the lesser of the (A) the Fair Market Value of the Company’s
Investment in such Subsidiary as of the date of such redesignation or (B) such Fair Market Value as
of the date on which such Subsidiary was originally designated as an Unrestricted Subsidiary after
the date of this Indenture;

               (iii) it may be required to issue a Note Guaranty pursuant to Section 4.18 and grant Liens on
its assets pursuant to the Security Agreements; and

               (iv) it will thenceforward be subject to the provisions of this Indenture as a Restricted
Subsidiary.

          (e) Any designation by the Board of Directors of the Company of a Subsidiary as a Restricted
Subsidiary or Unrestricted Subsidiary will be evidenced to the Trustee by promptly filing with the
trustee a copy of the Board Resolution giving effect to the designation and an Officer’s
Certificate certifying that the designation complied with the foregoing provisions.

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ARTICLE 5

CONSOLIDATION, MERGER OR SALE OF ASSETS

     Section 5.01 Consolidation, Merger or Sale of Assets by the Company. The Company will not

               (i) consolidate with or merge with or into any Person, or

               (ii) sell, convey, transfer, lease or otherwise dispose of all or substantially all of the
assets of the Company and its Subsidiaries as an entirety or substantially an entirety, in one
transaction or a series of related transactions, to any Person, or

               (iii) permit any Person to merge with or into the Company

unless

               (1) either (x) the Company is the continuing or surviving Person or (y) the resulting,
surviving or transferee Person is a corporation organized and validly existing under the laws of
the United States of America or any jurisdiction thereof and expressly assumes by supplemental
indenture (or other joinder agreement, as applicable) all of the obligations of the Company under
this Indenture, the Notes and the Security Agreements;

               (2) immediately after giving effect to the transaction, no Default has occurred and is
continuing;

               (3) immediately after giving effect to the transaction on a pro forma basis, either (x) the
Company or the resulting surviving or transferee Person could Incur at least $1.00 of Debt under
the Fixed Charge Coverage Ratio set forth in the proviso to Section 4.06(a) or (y) the Fixed Charge
Coverage Ratio of the Company or the resulting, surviving or transferee Person would not be less
than the Fixed Charge Coverage Ratio of the Company immediately prior to the transaction; and

               (4) the Company delivers to the trustee an Officer’s Certificate and an Opinion of Counsel
(subject to customary exceptions and qualifications), each stating that the consolidation, merger
or transfer and the supplemental indenture (if any) comply with this Indenture;

provided, that clauses (2) and (3) do not apply (i) to the consolidation or merger of the Company
with or into a Wholly Owned Restricted Subsidiary or the consolidation or merger of a Wholly Owned
Restricted Subsidiary with or into the Company or (ii) to any consolidation or merger if, in the
good faith determination of the Board of Directors of the Company, whose determination is evidenced
by a Board Resolution, the sole purpose of such consolidation or merger is to change the
jurisdiction of incorporation of the Company.

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     Section 5.02 Successor Company Substituted. Upon the consummation of any transaction effected in accordance with these provisions, if
the Company is not the continuing Person, the resulting, surviving or transferee Person will
succeed to, and be substituted for, and may exercise every right and power of, the Company under
this Indenture and the Notes with the same effect as if such successor Person had been named as the
Company in this Indenture. Upon such substitution, unless the successor is one or more of the
Company’s Subsidiaries, the Company will be released from its obligations under this Indenture and
the Notes; provided that, in the case of a lease of all or substantially all of the assets of the
Company and its Subsidiaries, the predecessor company shall not be released from any of the
obligations or covenants under this Indenture and the Notes, including with respect to the payment
of the Notes.

     Section 5.03 Consolidation, Merger or Sale of Assets by a Guarantor.

          (a) No Guarantor may

               (i) consolidate with or merge with or into any Person, or

               (ii) sell, convey, transfer, lease or dispose of, all or substantially all its assets as an
entirety or substantially as an entirety, in one transaction or a series of related transactions,
to any Person, or

               (iii) permit any Person to merge with or into such Guarantor

unless

               (1) the other Person is the Company or any Restricted Subsidiary that is a Guarantor or that
becomes a Guarantor concurrently with the transaction; or

               (2) (A) either (x) the Guarantor is the continuing or surviving Person or (y) the resulting,
surviving or transferee Person expressly assumes by supplemental indenture (or other joinder
agreement, as applicable) all of the obligations of the Guarantor under its Note Guaranty, this
Indenture and the Security Agreements; and

                    (B) immediately after giving effect to the transaction, no Default has occurred and is
continuing; or

               (3) the transaction constitutes a sale or other disposition (including by way of consolidation
or merger) of the Guarantor or the sale or disposition of all or substantially all the assets of
the Guarantor (in each case other than to the Company or a Domestic Restricted Subsidiary)
otherwise permitted by this Indenture.

          (b) Upon the consummation of any transaction effected in accordance with the provisions of
Section 5.03(a), if the Guarantor is not the continuing Person, the resulting, surviving
or transferee Person will succeed to, and be substituted for, and may exercise every right and
power of, the Guarantor under this Indenture and the Notes with the same effect as if such
successor Person

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had been named as the Guarantor in this Indenture. Upon consummation of a
transaction under the provisions of Section 5.03(a), unless the successor is one or more of the
Guarantor’s Subsidiaries, the Guarantor will be released from its obligations under this Indenture
and the Notes; provided that, in the case of a lease of all or substantially all of the assets of
the Guarantor, the predecessor company shall not be released from any of the obligations or
covenants under this Indenture and the Notes, including with respect to the payment of the Notes.

     Section 5.04 Opinion of Counsel to Trustee. The Trustee, subject to the provisions of Sections 7.01 and 7.03, shall be provided with an
Opinion of Counsel as conclusive evidence that any such consolidation, merger, conveyance, sale,
transfer, lease, exchange or other disposition referred to in Section 5.01 or 5.03 complies with
the applicable provisions of this Indenture.

ARTICLE 6

REMEDIES

     Section 6.01 Events of Default. Each of the following constitutes an “Event of Default”:

          (1) the Company defaults in the payment of the principal of any Note when the same becomes due
and payable at maturity, upon acceleration or redemption, or otherwise (other than pursuant to an
Offer to Purchase);

          (2) the Company defaults in the payment of interest on any Note when the same becomes due and
payable, and the default continues for a period of 30 days;

          (3) the Company fails to make an Offer to Purchase and thereafter accept and pay for Notes
tendered when and as required pursuant to Section 4.09 or Section 4.12, or the Company or any
Guarantor fails to comply with Article 5;

          (4) the Company defaults in the performance of or breaches any other covenant or agreement of
the Company in this Indenture or under the Notes and the default or breach continues for a period
of 60 consecutive days after written notice to the Company by the Trustee or to the Company and the
Trustee by the Holders of 25% or more in aggregate principal amount of the Notes;

          (5) there occurs with respect to any Debt of the Company or any of its Subsidiaries having an
outstanding principal amount of $50,000,000 or more in the aggregate for all such Debt of all such
Persons (i) an event of default that results in such Debt being due and payable prior to its
scheduled maturity or (ii) failure to make a principal payment at scheduled maturity and,
in each case, such defaulted payment is not made, waived or extended within the applicable
grace period;

          (6) one or more final judgments or orders for the payment of money are rendered against the
Company or any of its Subsidiaries and are not paid or discharged, and there is a period of 60
consecutive days following entry of the final judgment or order that causes the aggregate

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amount
for all such final judgments or orders outstanding and not paid or discharged against all such
Persons to exceed $50,000,000 (in excess of amounts which the Company’s insurance carriers have
agreed to pay under applicable policies) during which a stay of enforcement, by reason of a pending
appeal or otherwise, is not in effect;

          (7) an involuntary case or other proceeding is commenced against the Company or any
Significant Subsidiary with respect to it or its debts under any bankruptcy, insolvency or other
similar law now or hereafter in effect seeking the appointment of a trustee, receiver, liquidator,
custodian or other similar official of it or any substantial part of its property, and such
involuntary case or other proceeding remains undismissed and unstayed for a period of 60 days; or
an order for relief is entered against the Company or any Significant Subsidiary under the federal
bankruptcy laws as now or hereafter in effect;

          (8) the Company or any of its Significant Subsidiaries (i) commences a voluntary case under
any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, or consents
to the entry of an order for relief in an involuntary case under any such law, (ii) consents to the
appointment of or taking possession by a receiver, liquidator, assignee, custodian, trustee,
sequestrator or similar official of the Company or any of its Significant Subsidiaries or for all
or substantially all of the property and assets of the Company or any of its Significant
Subsidiaries or (iii) effects any general assignment for the benefit of creditors (an event of
default specified in clause (7) or (8) a “Bankruptcy Default”);

          (9) any Note Guaranty ceases to be in full force and effect, other than in accordance with the
terms of this Indenture, or a Guarantor denies or disaffirms its obligations under its Note
Guaranty; or

          (10) the Liens created by the Security Agreements shall at any time not constitute a valid and
(to the extent perfection by filing, registration, recordation or possession is required by this
Indenture or the Security Agreements) perfected Lien on any material portion of the Collateral
intended to be covered thereby other than in accordance with the terms of the relevant Security
Agreement and this Indenture and other than the satisfaction in full of all Obligations under this
Indenture or the release or amendment of any such Lien in accordance with the terms of this
Indenture or the Security Agreements, or, except for expiration in accordance with its terms or
amendment, modification, waiver, termination or release in accordance with the terms of this
Indenture and the relevant Security Agreement, any of the Security Agreements shall for whatever
reason be terminated or cease to be in full force and effect, or the enforceability thereof shall
be contested by the Company or any Guarantor.

     Section 6.02 Acceleration. If an Event of Default, other than a Bankruptcy Default with respect to the Company, occurs
and is continuing under this Indenture, the Trustee or the Holders of at least 25% in aggregate
principal amount of the Notes then outstanding, by written notice to the Company (and to the
Trustee if the notice is given by the Holders), may, and the Trustee at the request of such Holders
shall, declare the principal of and accrued interest on the Notes to be immediately due and
payable. Upon a declaration of acceleration, such principal and interest will become immediately
due and payable. If a Bankruptcy Default occurs with respect to the Company,

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the principal of and
accrued interest on the Notes then outstanding will become immediately due and payable without any
declaration or other act on the part of the Trustee or any Holder.

     Notwithstanding the foregoing, if the Company so elects, the sole remedy of the Holders for
(x) a failure to comply with any obligations that the Company may have or may be deemed to have
pursuant to Section 314(a)(1) of the TIA or (y) the Company’s failure to comply with Section 4.04,
will for the first 240 days after the occurrence of such failure consist exclusively of the right
to receive additional interest on the Notes at a rate per annum: equal to (i) 0.25% for the first
150 days after the occurrence of such failure (which 150th day will be the 90th day after written
notice of such failure to comply is provided as set forth above) and (ii) 0.50% from the 151st day
to, and including, the 240th day after the occurrence of such failure (“Additional Interest”).
Additional Interest will accrue on all outstanding Notes from and including the date on which such
failure first occurs until such violation is cured or waived and shall be payable on each relevant
Interest Payment Date to Holders of record on the Regular Record Date immediately preceding such
Interest Payment Date. On the 241st day after such failure (if such violation is not cured or
waived prior to such 241st day), such failure will then constitute an Event of Default without any
further notice or lapse of time and the Notes will be subject to acceleration as provided above.
Unless the context requires otherwise, all references to “interest” contained herein shall be
deemed to include Additional Interest.

     Section 6.03 Other Remedies. If an Event of Default occurs and is continuing, the Trustee may pursue any available
remedy to collect the payment of principal or interest on the Notes or to enforce the performance
of any provision of the Notes or this Indenture.

     The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not
produce any of them in the proceeding. A delay or omission by the Trustee or any Holder in
exercising any right or remedy accruing upon an Event of Default shall not impair the right or
remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are
cumulative to the extent permitted by law.

     Section 6.04 Waiver of Past Defaults. The Holders of a majority in principal amount of the Outstanding Notes by written notice to
the Company and to the Trustee may waive all past Defaults and rescind and annul a declaration of
acceleration and its consequences if (i) all existing Events of Default, other than the nonpayment
of the principal of, premium, if any, and interest on the Notes that have become due solely by the
declaration of acceleration, have been cured or waived, and (ii) the rescission would not conflict
with any judgment or decree of a court of competent jurisdiction. Upon such waiver, the
Default will cease to exist, and any Event of Default arising therefrom will be deemed to have been
cured, but no such waiver will extend to any subsequent or other Default or impair any right
consequent thereon.

     Section 6.05 Control by Majority. The Holders of a majority in principal amount of the Outstanding Notes may direct the time,
method and place of conducting any proceeding for any remedy available to the Trustee or the Second
Lien Collateral Agent or exercising any trust or power conferred on the Trustee or the Second Lien
Collateral Agent under this Indenture or the Security Agreements. However, each of the Trustee and
the Second Lien Collateral Agent may refuse to follow any direction that conflicts with law or this
Indenture or the Security Agreements, that may

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involve it in personal liability, or that it
determines in good faith may be unduly prejudicial to the rights of Holders of Notes not joining in
the giving of such direction, and may take any other action it deems proper that is not
inconsistent with any such direction received from Holders of Notes. Furthermore, the rights of
the Second Lien Collateral Agent to exercise remedies with respect to the Collateral are subject in
all respects to the Intercreditor Agreement, notwithstanding any directions received from the
Holders of the Notes.

     Section 6.06 Limitation on Suits. A Holder may not institute any proceeding, judicial or otherwise, with respect to this
Indenture, the Notes or the Collateral, or for the appointment of a receiver or trustee, or for any
other remedy under this Indenture, the Notes or the Security Agreements, unless:

          (1) the Holder has previously given to the Trustee written notice of a continuing Event of
Default;

          (2) Holders of at least 25% in aggregate principal amount of Outstanding Notes have made
written request to the Trustee to institute proceedings in respect of the Event of Default in its
own name as Trustee under this Indenture or as Second Lien Collateral Agent under the Security
Agreements, as applicable;

          (3) Holders have offered to the Trustee (including in its capacity as Second Lien Collateral
Agent) indemnity reasonably satisfactory to the Trustee against any costs, liabilities or expenses
to be incurred in compliance with such request;

          (4) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity
has failed to institute any such proceeding; and

          (5) during such 60-day period, the Holders of a majority in aggregate principal amount of the
Outstanding Notes have not given the Trustee a direction that is inconsistent with such written
request.

     Section 6.07 Rights of Holders to Receive Payment. Notwithstanding any other provision of this Indenture, the right of a Holder of a Note to
receive payment of principal of or interest on its Note on or after the respective due dates
expressed in the Note (including in connection with an Offer to Purchase) and the Stated Maturity
thereof, or to bring suit for the enforcement of any such payment on or after such dates, may not
be impaired or affected without the consent of that Holder; provided that no Holder may institute
any such suit (and shall promptly dismiss such suit upon request by the trustee or Holders of a
majority in aggregate principal amount of the Notes), if and to the extent that the institution or
prosecution thereof or the entry of judgment therein would, under applicable law, result in the
surrender, impairment, waiver, or loss of the Lien of such Indenture upon any property subject to
such Lien.

     Section 6.08 Collection Suit by Trustee. If an Event of Default specified in Section 6.01(1) or (2) hereof occurs and is continuing,
the Trustee is authorized to recover judgment in its own name and as trustee of an express trust
against the Company or any other obligor for the

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whole amount of principal (including any PIK
Interest), premium, if any, and interest remaining unpaid on the Notes and interest on overdue
principal and, to the extent lawful, interest and such further amount as shall be sufficient to
cover amounts due the Trustee under Section 7.08, including the costs and expenses of collection,
including the reasonable compensation, expenses, disbursements and advances of the Trustee, its
agents and counsel.

     Section 6.09 Trustee May File Proofs of Claim. Subject to any limitations set forth in the Intercreditor Agreement, the Trustee is
authorized to file such proofs of claim and other papers or documents as may be necessary or
advisable in order to have the claims of the Trustee (including any claim for the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and the
Holders allowed in any judicial proceedings relative to the Company (or any other obligor upon the
Notes), its creditors or its property and shall be entitled and empowered to collect, receive and
distribute any money or other property payable or deliverable on any such claims and any custodian
in any such judicial proceeding is hereby authorized by each Holder to make such payments to the
Trustee, and in the event that the Trustee shall consent to the making of such payments directly to
the Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the
Trustee under Section 7.08. To the extent that the payment of any such compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the
Trustee under Section 7.08 out of the estate in any such proceeding, shall be denied for any
reason, the same shall be paid out of any and all distributions, dividends, money, securities and
other properties which the Holders may be entitled to receive in such proceeding whether in
liquidation or under any plan of reorganization or arrangement or otherwise. Nothing herein
contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on
behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting
the Notes or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of
the claim of any Holder in any such proceeding.

     Section 6.10 Priorities. If the Trustee collects any money pursuant to this Article, it shall, subject to the
provisions of the Intercreditor Agreement, pay out the money in the following order:

     First: to the Trustee, its agents and attorneys for amounts due under Section 7.08, including
payment of all compensation, expense and liabilities incurred, and all advances made, by the
Trustee and the costs and expenses of collection;

     Second: to Holders for amounts due and unpaid on the Notes for principal, premium, if any, and
interest, ratably, without preference or priority of any kind, according to the amounts due and
payable on the Notes for principal, premium, if any, and interest, respectively; and

     Third: to the Company or to such party as a court of competent jurisdiction shall direct.

     The Trustee may fix a record date and payment date for any payment to Holders pursuant to this
Section 6.10 upon five Business Days prior notice to the Company.

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     Section 6.11 Undertaking for Costs. In any suit for the enforcement of any right or remedy under this Indenture or in any suit
against the Trustee for any action taken or omitted by it as a Trustee, a court in its discretion
may require the filing by any party litigant in the suit of an undertaking to pay the costs of the
suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’
fees and expenses, against any party litigant in the suit, having due regard to the merits and good
faith of the claims or defenses made by the party litigant. This Section does not apply to a suit
by the Trustee, a suit by a Holder pursuant to Section 6.06, or a suit by Holders of more than 10%
in aggregate principal amount of the then Outstanding Notes.

     Section 6.12 Restoration of Rights and Remedies. If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy
under this Indenture or any Note and such proceeding has been discontinued or abandoned for any
reason, or has been determined adversely to the Trustee or to such Holder, then and in every such
case the Company, any other obligor upon the Notes, the Trustee and the Holders shall, subject to
any determination in such proceeding, be restored severally and respectively to their former
positions hereunder, and thereafter all rights and remedies of the Trustee and the Holders shall
continue as though no such proceeding had been instituted.

     Section 6.13 Rights and Remedies Cumulative. No right or remedy herein conferred upon or reserved to the Trustee or to the Holders is
intended to be exclusive of any other right or remedy, and every right and remedy shall, to the
extent permitted by law, be cumulative and in addition to every other right and remedy given
hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or
employment of any right
or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of
any other appropriate right or remedy.

     Section 6.14 Waiver of Stay, Extension or Usury Laws. The Company and each of the Guarantors covenants (to the extent that it may lawfully do so)
that it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the
benefit or advantage of, any stay or extension law or any usury or other similar law wherever
enacted, now or at any time hereafter in force, that would prohibit or forgive the Company from
paying all or any portion of the principal of (or premium, if any) or interest on the Notes
contemplated herein or in the Notes or that may affect the covenants or the performance of this
Indenture; and the Company and each of the Guarantors (to the extent that it may lawfully do so)
hereby expressly waives all benefit or advantage of any such law, and covenant that it will not
hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer
and permit the execution of every such power as though no such law had been enacted.

ARTICLE 7

THE TRUSTEE

     Section 7.01 Certain Duties and Responsibilities.

          (a) Except during the continuance of an Event of Default,

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               (i) the Trustee need perform only those duties that are specifically set forth in this
Indenture and no others, and no implied covenants or obligations shall be read into this Indenture
against the Trustee; and

               (ii) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the
truth of the statements and the correctness of the opinions expressed therein, upon certificates or
opinions furnished to the Trustee and conforming to the requirements of this Indenture. However, in
the case of any such certificates or opinions which by any provision hereof are specifically
required to be furnished to the Trustee, the Trustee shall examine the certificates and opinions to
determine whether or not they conform to the requirements of this Indenture (but need not confirm
or investigate the accuracy of mathematical calculations or other facts stated therein).

          (b) In case an Event of Default has occurred and is continuing, the Trustee shall exercise
such of the rights and powers vested in it by this Indenture, and use the same degree of care and
skill in their exercise as a prudent person would exercise or use under the circumstances in the
conduct of such person’s own affairs.

          (c) No provision of this Indenture shall be construed to relieve the Trustee from liability
for its own negligent action, its own negligent failure to act, or its own bad faith or willful
misconduct, except that (i) this paragraph does not limit the effect of Section 7.01(a); and
(ii) the Trustee shall not be liable with respect to any action it takes or omits to take in good
faith in accordance with a direction received by it pursuant to Section 6.05.

          (d) The Trustee may refuse to perform any duty or exercise any right or power or expend or
risk its own funds or otherwise incur any financial liability unless it receives indemnity
reasonably satisfactory to it against any loss, liability or expense.

          (e) Whether or not therein expressly so provided, every provision of this Indenture relating
to the conduct or affecting the liability of or affording protection to the Trustee shall be
subject to the provisions of Sections 7.01 and 7.03.

     Section 7.02 Notice of Defaults.

          (a) If any Default occurs and is continuing and is known to the Trustee, the Trustee will send
notice of the Default to each Holder within 10 days after it occurs, unless the Default has been
cured.

          (b) The Trustee shall not be required to take notice or be deemed to have notice or knowledge
of any event or of any Default (except default in the payment of monies to the Trustee which are
required to be paid to the Trustee on or before a specified date or within a specified time after
receipt by the Trustee of a notice or a certificate which was in fact received), unless a
Responsible Officer of the Trustee has actual knowledge thereof or unless the Trustee shall receive
from the Company or a Holder at the Corporate Trust Office written notice stating that the same has
occurred and is continuing, specifying the same and referencing the Notes and this Indenture, and,
in

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the absence of such knowledge or notice, the Trustee may conclusively assume that the same does
not exist, except as aforesaid.

     Section 7.03 Certain Rights of Trustee. Subject to the provisions of Section 7.01:

          (i) the Trustee may conclusively rely and shall be protected in acting or refraining from
acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request,
direction, consent, order, bond, note, other evidence of indebtedness or other paper or document
believed by it to be genuine and to have been signed or presented by the proper party or parties;

          (ii) any request or direction of the Company mentioned herein shall be sufficiently evidenced
by a Company Request or a Company Order thereof, and any resolution of any Person’s board of
directors (or any committee thereof) shall be sufficiently evidenced if certified by an Officer of
such Person as having been duly adopted and being in full force and effect on the date of such
certificate;

          (iii) whenever in the administration of this Indenture the Trustee shall deem it desirable
that a matter be proved or established prior to taking, suffering or omitting any action hereunder,
the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad
faith on its part, rely upon the Officer’s Certificates of the Company;

          (iv) the Trustee may consult with counsel of its selection and the advice of such counsel or
any Opinion of Counsel with respect to legal matters relating to this Indenture and the Notes shall
be full and complete authorization and protection in respect of any action taken, suffered or
omitted by it hereunder in good faith and in reliance thereon;

          (v) the Trustee shall be under no obligation to exercise any of the rights or powers vested in
it by this Indenture at the request or direction of any of the Holders pursuant to this Indenture,
unless such Holders shall have offered to the Trustee security or indemnity reasonably satisfactory
to it against any loss, liability or expense which might be incurred by it in compliance with such
request or direction;

          (vi) the Trustee shall not be bound to make any investigation into the facts or matters stated
in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction,
consent, order, bond, note, other evidence of indebtedness or other paper or document, but the
Trustee, in its reasonable discretion, may make further inquiry or investigation into such facts or
matters, and if the Trustee shall determine to make such further inquiry or investigation, it shall
be entitled to examine the books, records and premises of the Company, personally or by agent or
attorney, upon reasonable notice to the Company and during normal business hours;

          (vii) the Trustee may execute any of the trusts or powers hereunder or perform any duties
hereunder either directly or by or through agents or attorneys and the Trustee shall not be
responsible for any misconduct or negligence on the part of any agent or attorney appointed with
due care by it hereunder;

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          (viii) the rights, privileges, protections, immunities and benefits given to the Trustee,
including, without limitation, its right to be indemnified, are extended to, and shall be
enforceable by, the Trustee in each of its capacities hereunder, and to each agent, custodian and
other Person employed to act hereunder;

          (ix) the Trustee shall not be liable for any action taken, suffered, or omitted to be taken by
it in good faith and reasonably believed by it to be authorized or within the discretion or rights
or powers conferred upon it by this Indenture, unless the Trustee’s conduct constitutes willful
misconduct, bad faith or negligence;

          (x) the Trustee may request that the Company deliver a certificate setting forth the names of
individuals and/or titles of officers authorized at such time to take specified actions pursuant to
this Indenture;

          (xi) in no event shall the Trustee be responsible or liable for special, indirect, or
consequential loss or damage of any kind whatsoever (including, but not limited to, loss
of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss
or damage and regardless of the form of action; and

          (xii) the Trustee shall not be deemed to have notice of any Default or Event of Default unless
a Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of any
event which is in fact such a default is received by the Trustee at the Corporate Trust Office of
the Trustee, and such notice references the Securities and this Indenture.

     Section 7.04 Not Responsible for Recitals or Issuance of Notes. The recitals contained herein and in the Notes, except the Trustee’s certificates of
authentication, shall be taken as the statements of the Company, and neither the Trustee nor any
Authenticating Agent assumes any responsibility for their correctness. The Trustee makes no
representations as to the validity or sufficiency of this Indenture or of the Notes, except that
the Trustee represents that it is duly authorized to execute and deliver this Indenture,
authenticate the Notes and perform its obligations hereunder. Neither the Trustee nor any
Authenticating Agent shall be accountable for the use or application by the Company of the Notes or
the proceeds thereof.

     Section 7.05 Trustee’s Disclaimer. The Trustee makes no representation as to the validity or adequacy of this Indenture or the
Notes, it shall not be accountable for the Company’ use of the proceeds from the Notes, it shall
not be responsible for any statement in this Indenture or the Notes (other than its certificate of
authentication), the acts of a prior Trustee hereunder, or the determination as to which beneficial
owners are entitled to receive any notices hereunder.

     Section 7.06 May Hold Notes. The Trustee, any Authenticating Agent, any Paying Agent, any Registrar or any other agent
of the Company, in its individual or any other capacity, may become the owner or pledgee of Notes
and, subject to Section 7.09 and Section 7.14, may otherwise

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deal with the Company or its
Affiliates with the same rights it would have if it were not Trustee, Authenticating Agent, Paying
Agent, Registrar or such other agent.

     Section 7.07 Money Held in Trust. Money held by the Trustee in trust hereunder need not be segregated from other funds except
to the extent required by law. The Trustee shall be under no liability for interest on any money
received by it hereunder except as otherwise agreed in writing with the Company.

     Section 7.08 Compensation and Reimbursement. The Company and the Guarantors, jointly and severally, agree:

          (a) to pay to the Trustee from time to time such compensation as the Company and the Trustee
shall from time to time agree in writing for all services rendered by it hereunder (which
compensation shall not be limited by any provision of law in regard to the compensation of a
trustee of an express trust);

          (b) to reimburse the Trustee upon its request for all reasonable expenses, disbursements and
advances incurred or made by the Trustee in accordance with any provision of this Indenture
(including the reasonable compensation and the expenses, advances and disbursements of its agents
and counsel), except any such expense, disbursement or advance as shall be determined to have been
caused by the Trustee’s own negligence or willful misconduct; and

          (c) to indemnify the Trustee and any predecessor Trustee for, and to hold it harmless against,
any loss, damage, claims, liability or expense (including taxes, other than taxes based on the
income of the Trustee) incurred without negligence or willful misconduct on its part, arising out
of or in connection with the acceptance or administration of this trust, including the reasonable
costs and expenses of defending itself against any claim (whether asserted by a Holder or any other
person) or liability in connection with the exercise or performance of any of its powers or duties
hereunder.

     The Company’s payment obligations pursuant to this Section 7.08 shall survive the discharge of
this Indenture. When the Trustee incurs expenses after the occurrence of a Bankruptcy Default, the
expenses are intended to constitute expenses of administration under any applicable bankruptcy,
insolvency or other similar law now or hereafter in effect.

     Section 7.09 Conflicting Interests. If the Trustee has or shall acquire a conflicting interest within the meaning of the TIA,
within 90 days the Trustee shall either eliminate such conflicting interest, apply to the SEC for
permission to continue as Trustee with such conflicting interest, or resign, to the extent and in
the manner provided by, and subject to the provisions of, the TIA and this Indenture. To the extent
permitted by such Act, the Trustee shall not be deemed to have a conflicting interest by virtue of
being a trustee under this Indenture with respect to Notes, or a trustee under any other indenture
between the Company and the Trustee.

     Section 7.10 Corporate Trustee Required; Eligibility.

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          (a) There shall at all times be one (and only one) Trustee hereunder. The Trustee shall be a
Person that is eligible pursuant to the TIA to act as such and has a combined capital and surplus
of at least $100,000,000. If any such Person publishes reports of condition at least annually,
pursuant to law or to the requirements of its supervising or examining authority, then for the
purposes of this Section 7.10 and to the extent permitted by the TIA, the combined capital and
surplus of such Person shall be deemed to be its combined capital and surplus as set forth in its
most recent report of condition so published. If at any time the Trustee shall cease to be eligible
in
accordance with the provisions of this Section 7.10, it shall resign immediately in the manner
and with the effect hereinafter specified in this Article.

     Section 7.11 Resignation and Removal; Appointment of Successor.

          (a) No resignation or removal of the Trustee and no appointment of a successor Trustee
pursuant to this Article shall become effective until the acceptance of appointment by the
successor Trustee in accordance with the applicable requirements of Section 7.12.

          (b) The Trustee may resign at any time by giving written notice thereof to the Company. If the
instrument of acceptance by a successor Trustee required by Section 7.12 shall not have been
delivered to the Trustee within 30 days after the giving of such notice of resignation, the
resigning Trustee may petition any court of competent jurisdiction for the appointment of a
successor Trustee (and the Company shall reimburse the resigning Trustee for any reasonable
out-of-pocket expenses that it incurs in connection with any such petition).

          (c) The Trustee may be removed at any time by Act of the Holders of a majority in principal
amount of the Outstanding Notes, delivered to the Trustee and to the Company. If the instrument of
acceptance by a successor Trustee required by Section 7.12 shall not have been delivered to the
Trustee within 30 days after the giving of such notice of removal, the Trustee being removed may
petition any court of competent jurisdiction for the appointment of a successor Trustee (and the
Company shall reimburse the Trustee being removed for any reasonable out-of-pocket expenses that it
incurs in connection with any such petition).

     If at any time:

               (i) the Trustee shall fail to comply with Section 7.09 after written request therefor by the
Company or by any Holder who has been a bona fide Holder for at least six months, or

               (ii) the Trustee shall cease to be eligible under Section 7.10 and shall fail to resign after
written request therefor by the Company or by any such Holder, or

               (iii) the Trustee shall become incapable of acting or shall be adjudged bankrupt or insolvent
or a receiver of the Trustee or of its property shall be appointed or any public officer shall take
charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation,
conservation or liquidation,

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then, in any such case, (A) the Company may remove the Trustee, or (B) subject to Section 6.11, any
Holder who has been a bona fide Holder for at least six months may, on behalf of itself and all
others similarly situated, petition any court of competent jurisdiction for the removal of the
Trustee and the appointment of a successor Trustee or Trustees.

          (d) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy
shall occur in the office of Trustee for any cause, the Company shall promptly appoint a successor
Trustee and shall comply with the applicable requirements of Section 7.12. If, within one year
after such resignation, removal or incapability, or the occurrence of such vacancy, a successor
Trustee shall be appointed by Act of the Holders of a majority in principal amount of the
Outstanding Notes delivered to the Company and the retiring Trustee, the successor Trustee so
appointed shall, forthwith upon its acceptance of such appointment in accordance with the
applicable requirements of Section 7.12, become the successor Trustee and to that extent supersede
the successor Trustee appointed by the Company. If no successor Trustee shall have been so
appointed by the Company or the Holders and accepted appointment in the manner required by
Section 7.12, then, subject to Section 6.11, any Holder who has been a bona fide Holder for at
least six months may, on behalf of itself and all others similarly situated, petition any court of
competent jurisdiction for the appointment of a successor Trustee.

          (e) The Company shall give notice of each resignation and each removal of the Trustee and each
appointment of a successor Trustee to all Holders in the manner provided in Section 1.10. Each
notice shall include the name of the successor Trustee and the address of its Corporate Trust
Office.

     Section 7.12 Acceptance of Appointment by Successor.

          (a) In case of the appointment hereunder of a successor Trustee, every such successor Trustee
so appointed shall execute, acknowledge and deliver to the Company and to the retiring Trustee an
instrument accepting such appointment, and thereupon the resignation or removal of the retiring
Trustee shall become effective and such successor Trustee, without any further act, deed or
conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring
Trustee; but, on the request of the Company or the successor Trustee, such retiring Trustee shall,
upon payment of its charges, execute and deliver an instrument transferring to such successor
Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer
and deliver to such successor Trustee all property and money held by such retiring Trustee
hereunder.

          (b) Upon request of any such successor Trustee, the Company shall execute any and all
instruments for more fully and certainly vesting in and confirming to such successor Trustee all
such rights, powers and trusts referred to above.

          (c) No successor Trustee shall accept its appointment unless at the time of such acceptance
such successor Trustee shall be qualified and eligible under this Article 7.

     Section 7.13 Merger, Conversion, Consolidation or Succession to Business. Any corporation into which the Trustee may be merged or converted or with which it may be

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consolidated, or any corporation resulting from any merger, conversion or consolidation to which
the Trustee shall be a party, or any corporation succeeding to all or substantially all the
corporate
trust business of the Trustee, shall be the successor of the Trustee hereunder, provided such
corporation shall be otherwise qualified and eligible under this Article 7, without the execution
or filing of any paper or any further act on the part of any of the parties hereto. In case any
Notes shall have been authenticated, but not delivered, by the Trustee then in office, any
successor by merger, conversion or consolidation to such authenticating Trustee may adopt such
authentication and deliver the Notes so authenticated with the same effect as if such successor
Trustee had itself authenticated such Notes.

     Section 7.14 Preferential Collection of Claims Against the Company. If and when the Trustee shall be or become a creditor of the Company (or any other obligor
upon the Notes), the Trustee shall be subject to the provisions of the TIA regarding the collection
of claims against the Company (or any such other obligor).

     Section 7.15 Appointment of Authenticating Agent. The Trustee may appoint an Authenticating Agent acceptable to the Company to authenticate
the Notes. Any such appointment shall be evidenced by an instrument in writing signed by a
Responsible Officer, a copy of which instrument shall be promptly furnished to the Company. Unless
limited by the terms of such appointment, an Authenticating Agent may authenticate Notes whenever
the Trustee may do so. Each reference in this Indenture to authentication (or execution of a
certificate of authentication) by the Trustee includes authentication (or execution of a
certificate of authentication) by such Authenticating Agent. An Authenticating Agent has the same
rights as any Registrar, Paying Agent or agent for service of notices and demands.

ARTICLE 8

HOLDERS’ LIST AND REPORTS BY TRUSTEE AND THE COMPANY

     Section 8.01 The Company to Furnish Trustee Names and Addresses of Holders; Stock Exchange
Listing.

          (a) The Company will furnish or cause to be furnished to the Trustee

               (i) semi-annually, not more than 15 days after each Regular Record Date, a list, in such form
as the Trustee may reasonably require, of the names and addresses of the Holders as of such Regular
Record Date, and

               (ii) at such other times as the Trustee may request in writing, within 30 days after the
receipt by the Company of any such request, a list of similar form and content as of a date not
more than 15 days prior to the time such list is furnished;

provided, however, that if and so long as the Trustee shall be the Registrar, no such list need be
furnished pursuant to this Section 8.01.

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          (b) The Company will promptly notify the Trustee when any Notes are listed on any stock
exchange and of any delisting thereof.

     Section 8.02 Preservation of Information; Communications to Holders.

          (a) The Trustee shall preserve, in as current a form as is reasonably practicable, the names
and addresses of Holders contained in the most recent list, if any, furnished to the Trustee as
provided in Section 8.01 and the names and addresses of Holders received by the Trustee in its
capacity as Registrar; provided, however, that if and so long as the Trustee shall be the
Registrar, the Register shall satisfy the requirements relating to such list. None of the Company,
the Trustee or any other Person shall be under any responsibility with regard to the accuracy of
such list. The Trustee may destroy any list furnished to it as provided in Section 8.01 upon
receipt of a new list so furnished.

          (b) The rights of Holders to communicate with other Holders with respect to their rights under
this Indenture or under the Notes, and the corresponding rights and privileges of the Trustee,
shall be as provided by the TIA.

          (c) Every Holder, by receiving and holding the same, agrees with the Company and the Trustee
that neither the Company nor the Trustee nor any agent of either of them shall be held accountable
by reason of any disclosure of information as to names and addresses of Holders made pursuant to
the TIA.

     Section 8.03 Reports by Trustee. The Trustee shall transmit to Holders such reports concerning the Trustee and its actions
under this Indenture as may be required pursuant to the TIA at the times and in the manner provided
pursuant thereto. If required by Section 313(a) of the TIA, the Trustee shall, within 60 days after
each March 1, following the Issue Date deliver to Holders a brief report, dated as of such March 1,
which complies with the provisions of such Section 313(a). A copy of each such report shall, at the
time of such transmission to Holders, be filed by the Trustee with each stock exchange, if any,
upon which any Notes are listed, with the SEC to the extent permitted or required by the SEC and
with the Company.

ARTICLE 9

AMENDMENT, SUPPLEMENT OR WAIVER

     Section 9.01 Without Consent of the Holders. The Company and the Trustee (including in its capacity as Second Lien Collateral Agent) may
amend or supplement this Indenture, the Notes or the Security Agreements without notice to or the
consent of any Holder:

          (1) to cure any ambiguity, defect or inconsistency in this Indenture, the Notes or the
Security Agreements;

          (2) to comply with Article 5;

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          (3) to comply with any requirements of the SEC in connection with the qualification of this
Indenture under the TIA;

          (4) to evidence and provide for the acceptance of an appointment by a successor Trustee or
Second Lien Collateral Agent;

          (5) to provide for uncertificated Notes in addition to or in place of certificated Notes;

          (6) to provide for any Guarantee of the Notes, to secure the Notes or to confirm and evidence
the release, termination or discharge of any Guarantee of or Lien securing the Notes when such
release, termination or discharge is permitted by this Indenture;

          (7) to add to the covenants of the Company or its Restricted Subsidiaries, as applicable, for
the benefit of the Holders of such Notes or to surrender any right or power conferred upon the
Company or its Restricted Subsidiaries by this Indenture; or

          (8) to make any other change that does not adversely affect the rights of any Holder.

     Section 9.02 With Consent of Holders.

          (a) Except as otherwise provided in Section 6.07 or paragraph (b), the Company and the Trustee
may amend this Indenture, the Notes and, subject to the Intercreditor Agreement, the Security
Agreements with the written consent of the Holders of a majority in principal amount of the
Outstanding Notes and the Holders of a majority in principal amount of the Outstanding Notes may
waive future compliance by the Company with any provision of this Indenture, the Notes or the
Security Agreements, in each case, including consents or waivers obtained in connection with a
tender offer or exchange offer for the Notes.

          (b) Notwithstanding the provisions of paragraph (a), without the consent of each Holder
affected, an amendment or waiver may not

               (1) reduce the principal amount of or change the Stated Maturity of any installment of
principal of any Note;

               (2) reduce the rate of or change the Interest Payment Date of any interest payment on any
Note;

               (3) reduce the amount payable upon the redemption of any Note or change the time of any
mandatory redemption or, in respect of an optional redemption, the times at which any Note may be
redeemed or, once notice of redemption has been given, the time at which it must thereupon be
redeemed;

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               (4) after the time an Offer to Purchase is required to have been made, reduce the Change of
Control Payment, or extend the latest expiration date or Purchase Date thereunder;

               (5) make any Note payable in money other than that stated in the Note;

               (6) impair the right of any Holder of Notes to receive any principal payment or interest
payment on such Holder’s Notes, on or after the Stated Maturity thereof, or to institute suit for
the enforcement of any such payment;

               (7) make any change in the percentage of the principal amount of the Notes required for
amendments or waivers;

               (8) subordinate any Notes to any other obligation of the Company or subordinate any Note
Guaranty to any other obligation of the applicable Guarantor;

               (9) release all or substantially all of the Collateral, except as permitted by this Indenture;
or

               (10) make any change in any Note Guaranty that would adversely affect the Holders.

          (c) It is not necessary for Holders to approve the particular form of any proposed amendment,
supplement or waiver, but is sufficient if their consent approves the substance thereof.

          (d) After an amendment, supplement or waiver under this Section 9.02 becomes effective, the
Company shall deliver to the Holders of each Note affected thereby, with a copy to the Trustee, a
notice briefly describing the amendment, supplement or waiver. Any failure of the Company to
deliver such notice, or any defect therein, shall not, however, in any way impair or affect the
validity of any supplemental indenture or the effectiveness of any such amendment, supplement or
waiver.

     Section 9.03 Execution of Amendments, Supplements or Waivers. The Trustee shall sign any amendment, supplement or waiver authorized pursuant to this
Article 9 if the amendment, supplement or waiver does not adversely affect the rights, duties,
liabilities or immunities of the Trustee. If it does, the Trustee may, but need not, sign it. In
signing or
refusing to sign such amendment, supplement or waiver, the Trustee shall be given, and shall
be fully protected in relying upon, an Officer’s Certificate and an Opinion of Counsel to the
effect that the execution of such amendment, supplement or waiver has been duly authorized,
executed and delivered by the Company and that such amendment, supplement or waiver is a valid and
binding agreement of the Company, enforceable against it in accordance with its terms (subject to
customary exceptions).

     Section 9.04 Revocation and Effect of Consents.

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          (a) Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder is
a continuing consent by the Holder and every subsequent Holder of that Note or any Note that
evidences all or any part of the same debt as the consenting Holder’s Note, even if notation of the
consent is not made on any Note. Subject to the following paragraph of this Section 9.04, any such
Holder or subsequent Holder may revoke the consent as to such Holder’s Note by notice to the
Trustee or the Company received by the Trustee or the Company, as the case may be, before the date
on which the Trustee receives an Officer’s Certificate certifying that the Holders of the requisite
principal amount of Notes have consented (and not theretofore revoked such consent) to the
amendment, supplement or waiver. The Company may, but shall not be obligated to, fix a record date
for the purpose of determining the Holders entitled to consent to any amendment, supplement or
waiver as set forth in Section 1.08.

          (b) After an amendment, supplement or waiver becomes effective, it shall bind every Holder,
unless it makes a change described in any of clauses (1) through (10) of Section 9.02(b). In that
case, the amendment, supplement or waiver shall bind each Holder of a Note who has consented to it
and every subsequent Holder of such Note or any Note that evidences all or any part of the same
debt as the consenting Holder’s Note.

     Section 9.05 Conformity with TIA. Every amendment or supplemental indenture executed pursuant to this Article shall conform
to the requirements of the TIA as then in effect.

     Section 9.06 Notation on or Exchange of Notes. If an amendment, supplement or waiver changes the terms of a Note, the Trustee shall (if
required by the Company and in accordance with the specific direction of the Company) request the
Holder to deliver its Note to the Trustee. The Trustee shall (if required by the Company and in
accordance with the specific written direction of the Company) place an appropriate notation on the
Note about the changed terms and return it to the Holder. Alternatively, if the Company or the
Trustee so determines, the Company in exchange for the Note shall issue and the Trustee shall
authenticate a new Note that reflects the changed terms. Failure to make the appropriate notation
or issue a new Note shall not affect the validity and effect of such amendment, supplement or
waiver.

ARTICLE 10

REDEMPTION OF NOTES

     Section 10.01 Right of Redemption. (a) Except as otherwise provided below, the Notes will not be redeemable at the option of
the Company before October 1, 2013.

     (b) At any time and from time to time on or after October 1, 2013, the Company may redeem the
Notes, in whole or in part, at a Redemption Price equal to 100% of the principal amount (including
any increase in the principal amount reflecting PIK Interest) plus accrued and unpaid interest to,
but excluding, the Redemption Date (subject to the right of Holders of record on the relevant
Regular Record Date to receive interest due on the relevant Interest Payment Date).

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     (c) At any time and from time to time prior to October 1, 2012, the Company may redeem Notes
with the net cash proceeds received by the Company from any Equity Offering at a Redemption Price
equal to 110.50% of the principal amount (including any increase in the principal amount reflecting
PIK Interest) plus accrued and unpaid interest to, but excluding, the Redemption Date, in an
aggregate principal amount for all such redemptions not to exceed 35% of the original aggregate
principal amount of the Notes, provided that

          (1) in each case the redemption takes place not later than 120 days after the closing of the
related Equity Offering, and

          (2) not less than 65% of the original aggregate principal amount of the Notes offered on the
Issue Date remains outstanding immediately thereafter.

     (d) At any time and from time to time prior to October 1, 2013, upon not less than 30 nor more
than 60 days’ notice, the Company may redeem some or all of the Notes at a price of 100% of the
principal amount of the Notes redeemed plus the Applicable Premium (defined below), plus accrued
and unpaid interest, if any, to, but excluding, the Redemption Date.

“Applicable Premium” means, with respect to any Note on any Redemption Date, the greater of:

	 	(1)	 	1.0% of the principal amount of such Note; and
	 
	 	(2)	 	the excess, if any, of (a) the present value at such Redemption Date of
(i) the Redemption Price of such Note on October 1, 2013 (as stated in Section
10.01(b)), plus (ii) all required interest payments due on such Note through October
1, 2013 (excluding accrued but unpaid interest, if any, to the Redemption Date),
computed using a discount rate equal to the Treasury Rate as of such Redemption Date
plus 50 basis points; over (b) the principal amount of such Note.

     Section 10.02 Applicability of Article. Redemption or purchase of Notes as permitted by Section 10.01 shall be made in accordance
with this Article 10.

     Section 10.03 Election to Redeem; Notice to Trustee. In case of any redemption of the Notes at the election of the Company, the Company shall,
at least 30 days prior to the Redemption Date initially fixed by the Company (unless a shorter
notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date and of the
principal amount of Notes to be redeemed.

     Section 10.04 Selection by Trustee of Notes to Be Redeemed. If fewer than all of the Notes are being redeemed, the Trustee will select the Notes to be
redeemed pro rata, by lot or by any other method the Trustee in its sole discretion deems fair and
appropriate, in denominations of $1,000 principal amount and multiples thereof. Upon surrender of
any Note redeemed in part, the Holder will receive a new Note equal in principal amount to the
unredeemed portion of the surrendered Note. Once notice of redemption is sent to the Holders,
Notes called for redemption become due

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and payable at the Redemption Price on the Redemption Date,
and, commencing on the Redemption Date, Notes redeemed will cease to accrue interest.

          (a) The Trustee shall promptly notify the Company in writing of the Notes selected for
redemption and, in the case of any Note selected for partial redemption, the portion of the
principal amount thereof (including any PIK Interest) to be redeemed. On and after the Redemption
Date, interest will cease to accrue on Notes or portions thereof called for redemption. Notes and
portions of Notes selected will be in amounts of $2,000 or whole multiples of $1,000 in excess
thereof (or in amounts of $1.00 or whole multiples of $1.00 in excess thereof for PIK Interest
amounts); except that if all of the Notes of a Holder are to be redeemed or purchased, the entire
outstanding amount of Notes held by such Holder, shall be redeemed or purchased. Except as provided
in the preceding sentence, provisions of this Indenture that apply to Notes called for redemption
or purchase also apply to portions of Notes called for redemption or purchase.

          (b) For all purposes of this Indenture, unless the context otherwise requires, all provisions
relating to the redemption of Notes shall relate, in the case of any Note redeemed or to be
redeemed only in part, to the portion of the principal (including any PIK Interest) of such Note
that has been or is to be redeemed.

     Section 10.05 Notice of Redemption.

          (a) Notice of redemption or purchase as provided in Section 10.01 shall be deemed to have been
given upon the delivery of such notice to each Holder of Notes to be redeemed not fewer than 30 nor
more than 60 days prior to the Redemption Date.

     Any such notice shall state:

               (i) the expected Redemption Date,

               (ii) the Redemption Price,

               (iii) if less than all Outstanding Notes are to be redeemed, the identification (and, in the
case of partial redemption, the respective principal amounts) of the particular Notes to be
redeemed,

               (iv) that on the Redemption Date the Redemption Price will become due and payable upon each
such Note to be redeemed, and that, unless the Company defaults in making such redemption payment
or any Paying Agent is prohibited from making such payment pursuant to the terms of this Indenture,
interest thereon shall cease to accrue from and after said date,

               (v) the place or places where such Notes are to be surrendered for payment of the Redemption
Price and the name and address of the Paying Agent or Paying Agents,

               (vi) the CUSIP and other security identification numbers, if any, subject to Section 3.11
hereof, and

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               (vii) the provision of this Indenture pursuant to which the Notes are to be redeemed.

Redemption may be subject to one or more conditions precedent.

          (b) Notice of such redemption or purchase of Notes to be so redeemed or purchased at the
election of the Company shall be given by the Company or, at the written request of the Company
delivered at least five Business Days prior to the date proposed for the delivery of such notice
(unless a shorter notice shall be satisfactory to the Trustee), by the Trustee in the name and at
the expense of the Company; provided that such notice to the Trustee may be revoked by the Company
by written notice delivered to the Trustee prior to the date proposed for the delivery of the
notice of such redemption to the Holders.

          (c) The notice if delivered in the manner herein provided shall be conclusively presumed to
have been given, whether or not the Holder receives such notice. In any case, failure to deliver
such notice or any defect in the notice to the Holder of any Note designated for redemption as a
whole or in part shall not affect the validity of the proceedings for the redemption of any other
Note.

     Section 10.06 Deposit of Redemption Price. On or prior to 10:00 a.m., New York City time on any Redemption Date, the Company shall
deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying
Agent, the Company shall segregate and hold in trust as provided in Section 4.03) an amount of
money sufficient to pay the Redemption Price of, and any accrued and unpaid interest on, all
the Notes or portions thereof which are to be redeemed on that date.

     Section 10.07 Notes Payable on Redemption Date.

          (a) Notice of redemption having been given as provided in this Article 10, the Notes so to be
redeemed shall, on the Redemption Date, become due and payable at the Redemption Price herein
specified and from and after such date (unless Company shall default in the payment of the
Redemption Price or any Paying Agent is prohibited from paying the Redemption Price pursuant to the
terms of this Indenture) such Notes shall cease to bear interest. Upon surrender of such Notes for
redemption in accordance with such notice, such Notes shall be paid by the Company at the
Redemption Price. Installments of interest whose Interest Payment Date is on or prior to the
Redemption Date shall be payable to the Holders of such Notes registered as such on the relevant
Regular Record Dates according to their terms and the provisions of Section 3.07.

          (b) On and after any Redemption Date, if money sufficient to pay the Redemption Price of and
any accrued and unpaid interest on Notes called for redemption shall have been made available in
accordance with Section 10.06, the Notes (or the portions thereof) called for redemption will cease
to accrue interest and the only right of the Holders of such Notes (or portions thereof) will be to
receive payment of the Redemption Price of, and subject to the last sentence of Section 10.07(a),
any accrued and unpaid interest on such Notes (or portions thereof) to the Redemption Date. If any
Note (or portion thereof) called for redemption shall not be so paid upon

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surrender thereof for
redemption, the principal (and premium, if any) shall, until paid, bear interest from the
Redemption Date at the rate borne by the Note (or portion thereof).

     Section 10.08 Notes Redeemed in Part. Any Note that is to be redeemed only in part shall be surrendered at a Place of Payment
(with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of
transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof
or such Holder’s attorney duly authorized in writing) and the Company shall execute and the Trustee
shall authenticate and deliver to the Holder of such Note without service charge, a new Note or
Notes, of any authorized denomination as requested by such Holder in aggregate principal amount
equal to and in exchange for the unredeemed portion of the principal of the Note (including any PIK
Interest with respect to such Note) so surrendered.

ARTICLE 11

SATISFACTION AND DISCHARGE

     Section 11.01 Satisfaction and Discharge of Indenture.

          (a) This Indenture shall cease to be of further effect (except as to any surviving rights of
transfer or exchange of Notes herein provided for), and the Trustee, on demand of and at the
expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge
of this Indenture, when

               (i) either

                    (A) all Notes theretofore authenticated and delivered (other than (y) Notes that have been
destroyed, lost or stolen and that have been replaced or paid as provided in Section 3.06, and (z)
Notes for whose payment money has theretofore been deposited in trust or segregated and held in
trust by the Company and thereafter repaid to the Company or discharged from such trust, as
provided in Section 4.03) have been delivered to the Trustee cancelled or for cancellation; or

                    (B) all such Notes not theretofore delivered to the Trustee cancelled or for cancellation

                         (x) have become due and payable, or

                         (y) will become due and payable at their Stated Maturity within one year, or

                         (z) are to be called for redemption within one year under arrangements reasonably satisfactory
to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the
expense, of the Company,

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               (ii) the Company has irrevocably deposited or caused to be deposited with the Trustee an
amount in United States dollars, U.S. Government Obligations, or a combination thereof, sufficient
to pay and discharge the entire indebtedness on such Notes not theretofore delivered to the Trustee
cancelled or for cancellation, for principal (and premium, if any) and interest to the date of such
deposit (in the case of Notes that have become due and payable), or to the Stated Maturity or
Redemption Date, as the case may be;

               (iii) the Company has paid or caused to be paid all other sums then payable hereunder by the
Company; and

               (iv) the Company has delivered to the Trustee an Officer’s Certificate and an Opinion of
Counsel each to the effect that all conditions precedent provided for in this Section 11.01
relating to the satisfaction and discharge of this Indenture have been complied with; provided that
any such counsel may rely on any Officer’s Certificate as to matters of fact (including as to
compliance with the foregoing clauses (i), (ii) and (iii));

          (b) Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the
Company to the Trustee under Section 7.08 and, if money shall have been
deposited with the Trustee pursuant to clause (ii) of Section 11.01(a), the obligations of the
Trustee under Section 11.02, shall survive such satisfaction and discharge.

     Section 11.02 Application of Trust Money. Subject to the provisions of the last paragraph of Section 4.03, all money deposited with
the Trustee pursuant to Section 11.01 shall be held in trust and applied by it, in accordance with
the provisions of the Notes and this Indenture, to the payment, either directly or through any
Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine,
to the Persons entitled thereto, of the principal (and premium, if any) and interest on the Notes,
but such money need not be segregated from other funds except to the extent required by law.

ARTICLE 12

DEFEASANCE AND COVENANT DEFEASANCE

     Section 12.01 Option of the Company to Effect Defeasance or Covenant Defeasance. The Company may at its option by a Board Resolution, at any time, elect to have either
Section 12.02 or Section 12.03 applied to the Outstanding Notes upon compliance with the conditions
set forth below in this Article 12.

     Section 12.02 Legal Defeasance and Discharge. Upon the exercise by the Company under Section 12.01 of the option applicable to this
Section 12.02, the Company shall be deemed to have been discharged from any and all Obligations
with respect to all Outstanding Notes (and any Guarantor will be discharged from any and all
Obligations in respect of its Note Guaranty) on the date which is the 123rd day after the deposit
referred to in Section 12.04(a); provided that all of the conditions set forth in Section 12.04 are
satisfied (hereinafter, “Legal Defeasance”). For this purpose, such Legal Defeasance means that the
Company shall be deemed to have paid and

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discharged the entire indebtedness represented by the
Outstanding Notes, which shall thereafter be deemed to be “outstanding” only for the purposes of
Section 12.05 hereof and the other Sections of this Indenture referred to in clauses (i) and (ii)
of this Section 12.02, and to have satisfied all its other obligations under such Notes and this
Indenture (and the Trustee, on demand of and at the expense of the Company, shall execute proper
instruments acknowledging the same), except for the following provisions which shall survive until
otherwise terminated or discharged hereunder: (i) the rights of Holders of Outstanding Notes to
receive solely from the trust fund described in Section 12.04 hereof, and as more fully set forth
in such Section, payments in respect of the principal of, premium, if any, and interest on such
Notes when such payments are due, (ii) the obligations of the Company with respect to such Notes
under Sections 1.06, 3.03, 3.04, 3.05, 3.06, 3.13, 4.01, 4.02, 4.03 and 12.05 hereof, and (iii) the
rights, powers, trusts, duties and immunities of the Trustee hereunder, including, without
limitation, the Trustee’s rights under Section 7.08 hereof, and the obligations of the Company in
connection therewith and with this Article 12. Subject to compliance with this Article 12, the
Company may exercise its option
under this Section 12.02 notwithstanding the prior exercise of its option under Section 12.03
hereof with respect to the Notes.

     Section 12.03 Covenant Defeasance. Upon the exercise by the Company under Section 12.01 of the option applicable to this
Section 12.03, the Company shall be released from its obligations under the covenants contained in
Sections 4.06 through Section 4.14, Section 4.18, and clause (3) of Section 5.01(a) hereof with
respect to the Outstanding Notes and no Default under Section 6.01(3), (4), (5), (6), (9) and
(10) shall thereafter constitute a Default or Event of Default on the date which is the 123rd day
after the deposit referred to in Section 12.04(a); provided that all of the conditions set forth in
Section 12.04 are satisfied (hereinafter, “Covenant Defeasance”), and the Notes shall thereafter be
deemed not Outstanding for the purposes of any direction, waiver, consent or declaration or act of
Holders (and the consequences of any thereof) in connection with such covenants, but shall continue
to be deemed Outstanding for all other purposes hereunder. For this purpose, such Covenant
Defeasance means that, with respect to the Outstanding Notes, the Company may omit to comply with
and shall have no liability in respect of any term, condition or limitation set forth in any such
covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such
covenant or by reason of any reference in any such covenant to any other provision herein or in any
other document and such omission to comply shall not constitute a Default or an Event of Default
under Section 6.01(3) or (4), but, except as specified above, the remainder of this Indenture and
such Notes shall be unaffected thereby.

     Section 12.04 Conditions to Legal or Covenant Defeasance. The following shall be the conditions to application of either Section 12.02 or
Section 12.03 to the Outstanding Notes:

          (a) the Company has deposited with the Trustee, in trust, money and/or U.S. Government
Obligations that through the payment of interest and principal (including any PIK Interest) in
respect thereof in accordance with their terms will provide money in an amount sufficient to pay
(i) the principal of, premium, if any, and accrued interest on the Notes when such payments are due
in accordance with the terms of this Indenture and the Notes or (ii) in the case of Legal
Defeasance, accrued interest on the Notes through a scheduled Redemption Date and the principal of,
and premium on the Notes on such Redemption Date; provided that, at the time of deposit, the

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Company irrevocably authorizes the Trustee to issue a timely notice of redemption and to take such
other steps reasonably requested by the Trustee to ensure that such redemption will be effectuated;

          (b) in the case of an election under Section 12.02, the Company has delivered to the Trustee
(i) either (x) an Opinion of Counsel to the effect that Holders will not recognize income, gain or
loss for Federal income tax purposes as a result of the exercise by the Company of its option under
this Article 12 and will be subject to Federal income tax on the same amount and in the same manner
and at the same times as would have been the case if such deposit, defeasance and discharge had not
occurred, which Opinion of Counsel must be based upon (and accompanied by a copy of) a ruling of
the Internal Revenue Service to the same effect unless there has been a change in
applicable Federal income tax law after the Issue Date such that a ruling is no longer
required or (y) a ruling directed to the Trustee received from the Internal Revenue Service to the
same effect as the aforementioned Opinion of Counsel and (ii) an Opinion of Counsel to the effect
that, as a result of the creation of the defeasance trust, the Company will not be required to
register under the Investment Company Act of 1940 and after the passage of 123 days following the
deposit, the trust fund will not be subject to the effect of Section 547 of the United States
Bankruptcy Code or Section 15 of the New York Debtor and Creditor Law or any comparable provision
of applicable law;

          (c) in the case of an election under Section 12.03, the delivery by the Company to the Trustee
of (i) an Opinion of Counsel to the effect that, among other things, the Holders will not recognize
income, gain or loss for Federal income tax purposes as a result of such deposit and defeasance and
will be subject to Federal income tax on the same amount and in the same manner and at the same
times as would have been the case if such deposit and defeasance had not occurred and (ii) an
Opinion of Counsel to the effect that, as a result of the creation of the defeasance trust, the
Company will not be required to register under the Investment Company Act of 1940 and after the
passage of 123 days following the deposit, the trust fund will not be subject to the effect of
Section 547 of the United States Bankruptcy Code or Section 15 of the New York Debtor and Creditor
Law or any comparable provision of applicable law;

          (d) immediately after giving effect to such deposit on a pro forma basis, no Event of Default,
or event that after the giving of notice or lapse of time or both would become an Event of Default,
shall have occurred and be continuing on the date of such deposit or during the period ending on
the 123rd day after the date of such deposit, and such deposit shall not result in a breach or
violation of, or constitute a default under, any other agreement or instrument to which the Company
is a party or by which the Company is bound;

          (e) if at such time the Notes are listed on a national securities exchange, the Company has
delivered to the Trustee an Opinion of Counsel to the effect that the Notes will not be delisted as
a result of such deposit, defeasance and discharge;

          (f) the Company shall have delivered to the Trustee Officer’s Certificates stating that the
deposit made by the Company pursuant to its election under Sections 12.02 or 12.03 was not made by
the Company with the intent of preferring the Holders over the other creditors of the

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Company with
the intent of defeating, hindering, delaying or defrauding creditors of the Company or others; and

          (g) the Company shall have delivered to the Trustee Officer’s Certificates and an Opinion of
Counsel, each stating that all conditions precedent provided for relating to either the Legal
Defeasance under Section 12.02 or the Covenant Defeasance under Section 12.03 (as the case may be)
have been complied with as contemplated by this Section 12.04.

     Section 12.05 Deposited Money and Government Securities to Be Held in Trust; Other
Miscellaneous Provisions. Subject to Section 12.06, all money and U.S. Government Obligations (including the proceeds
thereof) deposited with the Trustee pursuant to Section 12.04 in respect of the Outstanding Notes
shall be held in trust and applied by the Trustee, in accordance with the provisions of such Notes
and this Indenture, to the payment, either directly or through any Paying Agent (including the
Company acting as Paying Agent) as the Trustee may determine, to the Holders of such Notes of all
sums due and to become due thereon in respect of principal of, premium, if any, and interest, but
such money need not be segregated from other funds except to the extent required by law.

     The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed
on or assessed against the money or U.S. Government Obligations deposited pursuant to Section 12.04
hereof or the principal and interest received in respect thereof other than any such tax, fee or
other charge which by law is for the account of the Holders of the Outstanding Notes.

     Anything in this Article 12 to the contrary notwithstanding, the Trustee shall deliver or pay
to the Company from time to time upon the request of the Company any money or U.S. Government
Obligations held by it as provided in Section 12.04 hereof which, in the opinion of a nationally
recognized firm of independent public accountants expressed in a written certification thereof
delivered to the Trustee, are in excess of the amount thereof which would then be required to be
deposited to effect an equivalent Legal Defeasance or Covenant Defeasance.

     Section 12.06 Repayment to Company. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in
trust for the payment of the principal (including any PIK Interest) of, premium, if any, or
interest on any Note and remaining unclaimed for two years after such principal, premium, if any,
or interest has become due and payable shall be paid to the Company on its written request or (if
then held by the Company) shall be discharged from such trust; and the Holder of such Note shall
thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all
liability of the Trustee or such Paying Agent with respect to such trust money, and all liability
of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or
such Paying Agent, before being required to make any such repayment, shall at the expense of the
Company cause to be published once, in The New York Times and The Wall Street Journal (national
edition), notice that such money remains unclaimed and that, after a date specified therein, which
shall not be less than 30 days from the date of such notification or publication, any unclaimed
balance of such money then remaining will be repaid to the Company.

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     Section 12.07 Reinstatement. If the Trustee or Paying Agent is unable to apply any money or U.S. Government Obligations
in accordance with Section 12.02 or 12.03, as the case may be, by reason of any order or judgment
of any court or governmental authority enjoining, restraining or otherwise prohibiting such
application, then the obligations of the Company under this Indenture and the Notes shall be
revived and reinstated as though no deposit had occurred pursuant to Section 12.02 or 12.03 until
such time as the Trustee or Paying Agent is permitted to apply all such amounts in accordance with
Section 12.02 or 12.03 hereof, as the case may be; provided, however, that, if the Company makes
any payment of principal of, premium, if any, or interest on any Note following the
reinstatement of its Obligations, the Company shall be subrogated to the rights of the Holder of
such Note to receive such payment from the amounts held by the Trustee or Paying Agent.

ARTICLE 13

NOTE GUARANTIES

     Section 13.01 The Guarantees. Subject to the provisions of this Article 13, each Guarantor hereby irrevocably and
unconditionally guarantees, jointly and severally, the full and punctual payment (whether at Stated
Maturity, upon acceleration, optional redemption, upon repurchase following a Offer to Purchase or
otherwise) of the principal of and premium, if any, and interest on, and all other amounts payable
under, each Note provided for under this Indenture, and the full and punctual payment of all other
amounts payable by the Company under this Indenture. Upon failure by the Company to pay punctually
any such amount, each Guarantor shall forthwith on demand pay the amount not so paid at the place
and in the manner specified in this Indenture, subject to the terms of the Intercreditor Agreement.

     Section 13.02 Guarantee Unconditional. The obligations of the Guarantors hereunder shall be unconditional and absolute and,
without limiting the generality of the foregoing, shall, to the fullest extent permitted by law,
not be released, discharged or otherwise affected by:

          (a) any extension, renewal, settlement, compromise, waiver or release in respect of any
obligation of the Company under this Indenture or any Note, by operation of law or otherwise;

          (b) any modification or amendment of or supplement to this Indenture or any Note; provided
that any such modification which increases the obligations of each Guarantor hereunder shall not be
effective as to such Guarantor without its consent;

          (c) any release, impairment, non-perfection or invalidity of any direct or indirect security
for any obligation of the Company or any Guarantor hereunder;

          (d) any change in the corporate existence, structure or ownership of the Company, or any
insolvency, bankruptcy, reorganization or other similar proceeding affecting the Company or its
assets or any resulting release or discharge of any obligation of the Company contained in this
Indenture or any Note;

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          (e) the existence of any claim, set-off or other rights which the Guarantors may have at any
time against the Company, the Trustee or any other Person, whether in connection with
this Indenture or any unrelated transactions, provided that nothing herein shall prevent the
assertion of any such claim by separate suit or compulsory counterclaim;

          (f) any invalidity or unenforceability relating to or against the Company for any reason of
this Indenture, any Note or any Security Agreement, or any provision of applicable law or
regulation purporting to prohibit the payment by the Company of the principal of or interest on any
Note or any other amount payable by the Company under this Indenture; or

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

     Section 13.03 Discharge; Reinstatement. Except as otherwise provided by this Indenture, the Guarantors’ obligations hereunder shall
remain in full force and effect until the principal of, premium, if any, and interest on the Notes
and all other amounts payable by the Company under this Indenture shall have been paid in full. If
at any time any payment of the principal of, premium, if any, or interest on any Note or any other
amount payable by the Company under this Indenture is rescinded or must be otherwise restored or
returned upon the insolvency, bankruptcy or reorganization of the Company or otherwise, the
Guarantors’ obligations hereunder with respect to such payment shall be reinstated as though such
payment had been due but not made at such time.

     Section 13.04 Waiver by the Guarantors. The Guarantors irrevocably waive acceptance hereof, presentment, demand, protest and any
notice not provided for herein, as well as any requirement that at any time any action be taken by
any Person against the Company or any other Person.

     Section 13.05 Subrogation and Contribution. Upon making any payment with respect to any obligation of the Company under this
Article 13, the Guarantor making such payment shall be subrogated to the rights of the payee
against the Company with respect to such obligation; provided that such Guarantor shall not enforce
either (i) any right to receive payment by way of subrogation against the Company or against any
direct or indirect security for such obligation, or any other right to be reimbursed, indemnified
or exonerated by or for the account of the Company in respect thereof or (ii) any right to receive
payment, in the nature of contribution or for any other reason, from any other Guarantor with
respect to such payment, in each case so long as any amount payable by the Company hereunder or
under the Notes remains unpaid.

     Section 13.06 Stay of Acceleration. If acceleration of the time for payment of any amount payable by the Company under this
Indenture or the Notes is stayed upon the insolvency, bankruptcy or reorganization of the Company,
all such amounts otherwise subject to acceleration under the terms of this Indenture shall
nonetheless be payable by the Guarantors hereunder forthwith on demand by the Trustee or the
Holders.

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     Section 13.07 Limits of Guarantees. Notwithstanding anything to the contrary in this Article 13, each Guarantor, and by its
acceptance of Notes, each Holder, hereby confirms that it is the intention of all such parties that
the Guarantee of such Guarantor not constitute a fraudulent conveyance under applicable fraudulent
conveyance provisions of the United States Bankruptcy Code or any comparable provision of state
law. To effectuate the foregoing intention, the Trustee, the Holders and the Guarantors hereby
irrevocably agree that the obligations of such Guarantor under its Guarantee and this Article 13
shall be limited to the maximum amount that would not render such Guarantor’s obligations subject
to avoidance under applicable fraudulent conveyance provisions of the United States Bankruptcy Code
or any comparable provision of state law. In addition, each Guarantor and, by its acceptance of
the Notes, each Holder hereby acknowledges that the rights and remedies of such Guarantor and
Holders are subject to the terms of the Intercreditor Agreement.

     Section 13.08 Execution and Delivery of Note Guarantee. To evidence its Guarantee set forth in Section 13.01, each Guarantor hereby agrees that
this Indenture (or a supplemental indenture in the form of Exhibit B hereto) shall be executed on
behalf of such Guarantor by one of its Officers.

     The signature of an Officer of a Guarantor on this Indenture shall bind such Guarantor,
notwithstanding that such individual has ceased to hold such office prior to the authentication and
delivery of any Note or did not hold such office at the date of such Note.

     The delivery of any Note by the Trustee, after the authentication thereof hereunder, shall
constitute due delivery of the Guarantee set forth in this Indenture on behalf of the Guarantors.

     Section 13.09 Release of Note Guaranties.

          (a) A Guarantor shall be released from all of its obligations under its Note Guaranty, this
Indenture, the Security Agreements (if applicable) and the Registration Rights Agreement (if
applicable):

               (i) In connection with any sale or other disposition of all or substantially all of the
assets, or all of the Capital Stock of that Guarantor (including by way of merger or
consolidation), to a Person that is not (either before or after giving effect to such transaction)
a Wholly-Owned Domestic Restricted Subsidiary of the Company (other than an Excluded Subsidiary),
if such sale or disposition is in compliance with this Indenture;

               (ii) Upon the designation of such Guarantor as an Unrestricted Subsidiary, in accordance with
the terms of this Indenture;

               (iii) Upon such Guarantor becoming an Excluded Subsidiary; provided, that if the applicable
Subsidiary ceases to be an Excluded Subsidiary it shall again become a Guarantor pursuant to
Section 4.18; or

               (iv) Discharge or defeasance of the Notes, as provided in Article 11 or Article 12;

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and in each case the Company has delivered to the Trustee an Officer’s Certificate, stating that
all conditions precedent herein relating to such release have been complied with and that such
release is authorized and permitted hereunder.

          (b) If all of the conditions to release contained in this Section 13.09 have been satisfied,
the Trustee shall execute any documents reasonably requested by the Company or any Guarantor in
order to evidence the release of such Guarantor from its obligations under its Note Guaranty under
this Article 13, the Security Agreements (if applicable) and the Registration Rights Agreement (if
applicable).

ARTICLE 14

SECURITY INTEREST

     Section 14.01 Grant of Security Interest.

          (a) The Company’s and the Guarantors’ obligations to pay the principal (and premium, if any)
and interest, including Additional Interest, if any, on the Notes in accordance with the terms of
the Notes and this Indenture and all other obligations of the Company and the Guarantors hereunder,
under the Notes, the Note Guaranties and the Security Agreements shall be secured as provided in
the Security Agreements.

          (b) The Company shall furnish to the Trustee opinions of counsel as required by the TIA with
respect to indentures that are secured by the mortgage or pledge of property, including opinions of
counsel required pursuant to Sections 314(b)(1) and 314(b)(2) of the TIA. The Company shall
deliver to the Trustee copies of all documents delivered to the Second Lien Collateral Agent
pursuant to the applicable Security Agreements, and will do, or cause to be done, all such acts and
things as may be necessary or proper, or as may be required by the provisions of the applicable
Security Agreements, to assure and confirm to the Trustee and the Second Lien Collateral Agent the
security interest in the Collateral contemplated hereby, by the Security Agreements or any part
thereof, as from time to time constituted, so as to render the same available for the security and
benefit of this Indenture and of the Notes secured hereby, according to the intent and purposes
herein expressed.

          (c) Each Holder, by its acceptance of the Notes, consents and agrees to all of the terms and
conditions of the Security Agreements (including, without limitation, the provisions providing for
foreclosure and release of Collateral), and authorizes and directs the Second Lien Collateral Agent
to enter into and perform its obligations, and exercise its rights under, the Security Agreements
in accordance therewith; provided that if any provision of the Security Agreements limit qualify or
conflict with the requirements of the TIA, the TIA will control.

          (d) In acting in its capacity as Second Lien Collateral Agent, the Trustee shall not be (i)
deemed to have breached its fiduciary duty as Trustee to the Holders as a result of the performance
of its duties as Second Lien Collateral Agent to the extent that it acts in compliance

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with the
terms and provisions of the Security Agreements and (ii) liable to the Holders for any action taken
or omitted in compliance with the terms and provisions of the Security Agreements.

     Section 14.02 Release of Security Interest.

          (a) Upon the occurrence of any of the following events, the Company may, at its option,
deliver to the Trustee an Officer’s Certificate (which shall set forth in reasonable detail such
event and the Collateral subject to such event) requesting that the Second Lien Collateral Agent’s
Liens upon the Collateral subject to such event be released and upon the receipt of such Officer’s
Certificate, the Trustee shall instruct the Second Lien Collateral Agent to release the Collateral
subject to such event:

               (i) upon discharge or defeasance of the Notes as set forth in Article 11 or Article 12;

               (ii) upon payment in full of principal, interest and all other Obligations on the Notes;

               (iii) with the consent of the requisite Holders of the Notes in accordance with Section 9.02,
including, without limitation, consents obtained in connection with a tender offer or exchange
offer for, or purchase of, Notes;

               (iv) as to any Collateral that is sold, transferred or otherwise disposed of by the Company or
any Guarantor to a Person that is not (either before or after the consummation of such sale,
transfer or disposition) the Company or a Guarantor (but excluding any transaction subject to
Article 5 where the recipient is required to become the obligor on the Notes or a Guarantor) that
is permitted by this Indenture;

               (v) upon the incurrence of Debt permitted by Section 4.06(b)(ix) to the extent required by the
holder of such Debt;

               (vi) as required by the Intercreditor Agreement;

               (vii) with respect to the Second-Priority Liens securing the Note Guaranty of any Guarantor,
upon the release of such Guarantor’s Note Guaranty in accordance this Indenture.

          (b) The release of the Second Lien Collateral Agent’s Liens in any part of the Collateral
shall not be deemed to impair the any such Liens in other parts of the Collateral under this
Indenture or the Security Agreements or be deemed to be in contravention of the provisions of this
Indenture or of any Security Agreement if and to the extent such Liens in such part of the
Collateral are released pursuant to the terms of this Indenture and the Security Agreements.

          (c) Whenever any part of or all of the Second Lien Collateral Agent’s Liens upon the
Collateral are to be released pursuant to this Section 14.02 and the Security Agreements, the
Trustee or the Second Lien Collateral Agent, as applicable shall, if necessary, execute any

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reasonable document or termination statement necessary to release such Liens. Nothing set forth in
this Section 14.02 shall limit the automatic Lien release provisions of any Security Agreement.

     Section 14.03 Documents to be Delivered Prior to Release of Security Interest. To the extent applicable, the Company, the Guarantors and any other obligor hereunder shall
comply with Section 314(d) of the TIA relating to the release of property from the Liens in favor
of the Second Lien Collateral Agent pursuant to the Security Agreements. Any certificate or
opinion required by Section 314(d) of the TIA may be made by an Officer of the Company except in
cases where Section 314(d) requires that such certificate or opinion be made by an independent
engineer, appraiser or other expert, who shall be reasonably satisfactory to the Trustee.
Notwithstanding anything to the contrary herein, the Company and its Subsidiaries will not be
required to comply with all or any portion of Section 314(d) of the TIA if they determine, in good
faith based on advice of outside counsel, that under the terms of that section and/or any
interpretation or guidance as to the meaning thereof of the SEC and its staff, including “no
action” letters or exemptive orders, all or any portion of Section 314(d) of the TIA is
inapplicable to the released Collateral.

     Section 14.04 Pledge of Additional Collateral. From and after the Issue Date and so long as the Notes are required to be secured under the
terms of this Indenture, if (i) to the extent provided in the Security Agreement, material property
(other than Excluded Property) is acquired by the Company or a Guarantor or (ii) property of the
Company or a Guarantor that had constituted Excluded Property ceases to constitute Excluded
Property, and in either case such property is not automatically subject to a perfected security
interest under the Security Agreements, or (iii) if a Restricted Subsidiary becomes a Guarantor,
then the Company or the applicable Guarantor will, as soon as practical after such property’s
acquisition (or such property no longer constituting Excluded Property), grant a perfected security
over such property (or, in the case of a new Guarantor, over all of its assets except Excluded
Property) in favor of the Second Lien Collateral Agent on a second-priority Lien basis, and will
deliver certain certificates, corporate documents and opinions in respect thereof as required by
this Indenture and the Security Agreements.

     Section 14.05 Amendment to Security Agreements.

          (a) The Company and the Guarantors shall not amend, modify or supplement, or permit or consent
to any amendment, modification or supplement of, the Security Agreements in any way that would be
adverse to the Holders in any material respect except in the following circumstances:

               (i) to the extent permitted by the Intercreditor Agreement;

               (ii) to effectuate a release of any part of the Second Lien Collateral Agent’s Liens upon the
Collateral in accordance with Section 14.02; or

               (iii) with the written consent of Holders of a majority of the principal amount of Outstanding
Notes or without the consent of any Holder in accordance with Section 9.01.

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          (b) Notwithstanding clause (a)(1), an amendment, waiver or consent granted by the Credit
Facility Agent will not similarly modify the Security Agreements if it would have the effect of
imposing additional duties or obligations on the Second Lien Collateral Agent (or that otherwise
adversely affects the rights of the Second Lien Collateral Agent in its individual capacity)
without its consent or permitted additional Liens on the Collateral that are not permitted under
the terms of this Indenture.

     Section 14.06 Confirmation of Perfection of Second Lien Collateral Agent’s Liens. The Company and each of the Guarantors will deliver, to the extent required by the Security
Agreements, an Officers’ Certificate to the Trustee confirming that all of the security interests
required by the Security Agreements have been perfected, not later than 60 days after the Issue
Date.

     Section 14.07 Second Lien Collateral Agent.

          (a) The Bank of New York is appointed as Second Lien Collateral Agent for the benefit of the
Holders of the Notes and shall initially act as Second Lien Collateral Agent under this Indenture
and the Security Agreements.

          (b) Subject to the terms of the Intercreditor Agreement, the Second Lien Collateral Agent will
hold (directly or through co-trustees or agents), and will be entitled to enforce on behalf of the
Holders of Notes, all Liens on the Collateral.

          (c) For the avoidance of doubt, all of the rights, protections, benefits, privileges,
indemnities and immunities granted to the Trustee hereunder shall inure to the benefit of the
Second Lien Collateral Agent acting hereunder and under the Security Agreements.

     Section 14.08 Replacement of Second Lien Collateral Agent. The Second Lien Collateral Agent may resign or may be removed by the Company or Holders of
a majority in aggregate principal amount of the Outstanding Notes as provided in the Security
Agreements.

-99-

 

     IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed, all as
of the date first written above.

	 	 	 	 	 
	 	EASTMAN KODAK COMPANY

 	 
	 
	 	By:  	/s/
William G. Love	 
	 	 	Name:  	William G. Love	 
	 	 	Title:  	Treasurer	 
	 
	 	CREO MANUFACTURING AMERICA LLC

KODAK AVIATION LEASING LLC

 	 
	 
	 	By:  	/s/
William G. Love	 
	 	 	Name:  	William G. Love	 
	 	 	Title:  	Manager	 
	 
	 	EASTMAN GELATINE CORPORATION

EASTMAN KODAK INTERNATIONAL 

CAPITAL COMPANY, INC.

FAR EAST DEVELOPMENT LTD.

FPC INC.

KODAK (NEAR EAST), INC.

KODAK AMERICAS, LTD.

KODAK IMAGING NETWORK, INC.

KODAK PORTUGUESA LIMITED

KODAK REALTY, INC.

LASER EDIT, INC.

LASER-PACIFIC MEDIA CORPORATION

PACIFIC VIDEO, INC.

PAKON, INC.

QUALEX INC.

 	 
	 	By:  	/s/
William G. Love	 
	 	 	Name:  	William G. Love	 
	 	 	Title:  	Treasurer	 
	 

 

 

	 	 	 	 	 
	 	KODAK PHILIPPINES, LTD.

NPEC INC.

 	 
	 
	 	By:  	/s/
William G. Love	 
	 	 	Name:  	William G. Love	 
	 	 	Title 	Assistant Treasurer	 
	 
	 	THE BANK OF NEW YORK MELLON,

as Trustee

 	 
	 
	 	By:  	/s/
Franca M. Ferrera	 
	 	 	Name:  	
Franca M. Ferrera	 
	 	 	Title:  	Senior Associate	 
	 

 

 

EXHIBIT A

[FORM OF NOTE]

EASTMAN KODAK COMPANY

10.50% Senior Note due 2017

	 	 	 
	No.                     

	 	[CUSIP/CINS] No.           
	 
	 

	 	$300,000,000 

     EASTMAN KODAK COMPANY, a New Jersey corporation (the “Company”, which term includes any
successor Persons under the Indenture hereinafter referred to), for value received promises to pay
to                                          or its registered assigns, the principal sum of Three Hundred Million
Dollars ($300,000,000) [or such other amount as indicated on the Schedule of Exchanges of
Securities attached hereto]1, on October 1, 2017.

	 	 	 
	Interest Rate:

	 	10.00% cash interest per annum and 0.50% PIK
Interest (as defined below) per annum
	 
	 	 
	Interest Payment Dates:

	 	April 1 and October 1 of each year commencing
April 1, 2010
	 
	 	 
	Regular Record Dates:

	 	March 15 and September 15 of each year

     Reference is hereby made to the further provisions of this Note set forth on the reverse
hereof, which further provisions shall for all purposes have the same effect as if set forth at
this place.

 

			
	1	 	To be included in any Global Note.

A-1 

 

     IN WITNESS WHEREOF, the Company has caused this Note to be signed manually or by facsimile by
its duly authorized officer.

	 	 	 	 	 
	 	EASTMAN KODAK COMPANY

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

A-2 

 

(Form of Trustee’s Certificate of Authentication)

     This is one of the 10.50% Senior Notes due 2017 referred to in the within-mentioned Indenture.

	 	 	 	 	 
	 	The Bank of New York Mellon, as Trustee

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 

Dated:                                         

A-3 

 

[REVERSE SIDE OF NOTE]

EASTMAN KODAK COMPANY

10.50% Senior Note due 2017

     (1) Principal and Interest. The Company agrees to pay the principal of this Note on October 1,
2017.

     The Company agrees to pay interest on the principal amount of this Note on each Interest
Payment Date, as set forth below, at the rate of (x) 10.00% per annum entirely in cash (“Cash
Interest”) and (y) 0.50% per annum in the form of PIK Interest (as defined below).

     Interest will be payable semiannually to the Holders at the close of business on the Regular
Record Date immediately preceding the Interest Payment Date) on each Interest Payment Date,
commencing April 1, 2010.

     Interest on this Note will accrue from the most recent date to which interest has been paid
or, if no interest has been paid, from September 29, 2009. Interest will be computed on the basis
of a 360-day year of twelve 30-day months.

     The Company shall pay interest on overdue principal and premium, if any, and interest on
overdue installments of cash interest, to the extent lawful, at a rate per annum equal to the rate
of interest applicable to the Notes.

     “PIK Interest” is interest paid by increasing the principal amount of each Note. On the Issue
Date of the Notes, each Note will have a principal amount of $1,000, with the principal amount of
each Note to be increased on each subsequent Interest Payment Date by the amount of PIK Interest.
PIK Interest will be paid by adding an amount equal to the amount of accrued and unpaid interest
for such interest period to the principal amount that is denominated in each Note immediately prior
to the payment of such PIK interest on the Interest Payment Date for such PIK Interest. Following
an increase in the principal amount of the outstanding Notes as a result of PIK Interest, the Notes
will bear Cash Interest and PIK Interest on such increased principal amount of the Notes from and
after the date of such Interest Payment Date. Unless the context otherwise requires, the principal
amount of the Notes at any time will include all interest that has theretofore been added to the
principal thereon as a result of PIK Interest.

     (2) Method of Payment. The Company will pay interest (except defaulted interest) on the
principal amount of the Notes on each April 1 and October 1, beginning April 1, 2010 to the Persons
who are Holders (as reflected in the Register at the close of business on the March 15 and
September 15 immediately preceding the Interest Payment Date), in each case, even if the Note is
cancelled on registration of transfer or registration of exchange after such Regular Record Date;
provided that, with respect to the payment of principal at the Stated Maturity, the Company will
make payment to the Holder that surrenders this Note to any Paying Agent on or after October 1,

A-4 

 

2017. Payments (including principal (including PIK Interest), premium, if any, and interest)
in respect of the Notes shall be subject to all applicable withholding taxes.

     The Company will pay principal, premium, if any, and interest in money of the United States
that at the time of payment is legal tender for payment of public and private debts. Payments
(including principal, premium, if any, and interest) in respect of the Notes represented by the
Global Notes, the Holders of which have given wire transfer instructions on or prior to the
relevant Record Date, shall be made by wire transfer of immediately available funds to the accounts
specified by the Global Note Holder. With respect to Physical Notes, the Company will make all
payments of principal, premium, if any, and interest at the office or agency maintained by the
Company for such purposes or, at the Company’s option, by mailing a check to each such Holder’s
registered address. If a payment date is a date other than a Business Day, payment may be made at
that place on the next succeeding day that is a Business Day and no interest shall accrue for the
intervening period.

     (3) Paying Agent and Registrar. Initially, the Trustee will act as Paying Agent and Registrar.
The Company may change any Paying Agent or Registrar upon written notice thereto. The Company, any
Subsidiary or any Affiliate of any of them may act as Paying Agent, Registrar or co-registrar.

     (4) Indenture; Limitations. The Company issued the Notes under an Indenture dated as of
September 29, 2009 (as amended, supplemented or otherwise modified from time to time, the
“Indenture”), among the Company, the Guarantors and The Bank of New York Mellon, as trustee (the
“Trustee”). Capitalized terms herein are used as defined in the Indenture unless otherwise
indicated. The terms of the Notes include those stated in the Indenture and those made part of the
Indenture by reference to the Trust Indenture Act of 1939 (the “TIA”). The Notes are subject to all
such terms, and Holders are referred to the Indenture and the TIA for a statement of all such
terms. To the extent permitted by applicable law, in the event of any inconsistency between the
terms of this Note and the terms of the Indenture, the terms of the Indenture shall control.

     The Notes are senior obligations of the Company, which are secured by the Security Agreements.
The Indenture limits the initial aggregate principal amount of the Notes to $300,000,000, which
will be increased by PIK Interest.

     (5) Optional Redemption. (a) Except as otherwise provided below, the Notes will not be
redeemable at the option of the Company before October 1, 2013.

     (b) At any time and from time to time on or after October 1, 2013, the Company may redeem the
Notes, in whole or in part, at a Redemption Price equal to 100% of the principal amount (including
any increase in the principal amount reflecting PIK Interest) plus accrued and unpaid interest to,
but excluding, the Redemption Date (subject to the right of Holders of record on the relevant
Regular Record Date to receive interest due on the relevant Interest Payment Date).

     (c) At any time and from time to time prior to October 1, 2012, the Company may redeem Notes
with the net cash proceeds received by the Company from any Equity Offering at a Redemption Price
equal to 110.50% of the principal amount plus accrued and unpaid interest to, but

A-5 

 

excluding, the Redemption Date, in an aggregate principal amount for all such redemptions not
to exceed 35% of the original aggregate principal amount of the Notes, provided that

          (1) in each case the redemption takes place not later than 120 days after the closing of the
related Equity Offering, and

          (2) not less than 65% of the original aggregate principal amount of the Notes offered on the
Issue Date remains outstanding immediately thereafter.

     (d) At any time and from time to time prior to October 1, 2013, upon not less than 30 nor more
than 60 days’ notice, the Company may redeem some or all of the Notes at a price of 100% of the
principal amount of the Notes (including any increase in the principal amount reflecting PIK
Interest) redeemed plus the Applicable Premium (defined below), plus accrued and unpaid interest,
if any, to, but excluding, the Redemption Date.

“Applicable Premium” means, with respect to any Note on any Redemption Date, the greater of:

          (1) 1.0% of the principal amount of such Note; and

          (2) the excess, if any, of (a) the present value at such Redemption Date of (i) the Redemption
Price of such Note on October 1, 2013 (as stated in Section 5(b) above), plus (ii) all required
interest payments due on such Note through October 1, 2013 (excluding accrued but unpaid interest,
if any, to the Redemption Date), computed using a discount rate equal to the Treasury Rate as of
such Redemption Date plus 50 basis points; over (b) the principal amount of such Note.

     (e) If fewer than all of the Notes are being redeemed, the Trustee will select the Notes to be
redeemed pro rata, by lot or by any other method the Trustee in its sole discretion deems fair and
appropriate, in denominations of $1,000 principal amount and multiples thereof (or in amounts of
$1.00 or whole multiples of $1.00 in excess thereof for PIK Interest amounts). Upon surrender of
any Note redeemed in part, the Holder will receive a new Note equal in principal amount to the
unredeemed portion of the surrendered Note. Once notice of redemption is sent to the Holders,
Notes called for redemption become due and payable at the Redemption Price on the Redemption Date,
and, commencing on the Redemption Date, Notes redeemed will cease to accrue interest.

     (f) Notices of redemption shall be delivered at least 30 but not more than 60 days before the
Redemption Date to each Holder of Notes to be redeemed. Redemption may be subject to one or more
conditions precedent. If any Note is to be redeemed in part only, the notice of redemption that
relates to such Note shall state the portion of the principal amount thereof to be redeemed. A new
Note in principal amount equal to the unredeemed portion thereof will be issued in the name of the
Holder thereof upon cancellation of the original Note. Notes called for redemption become due on
the date fixed for redemption. On and after the Redemption Date, interest ceases to accrue on Notes
or portions of them called for redemption.

A-6 

 

     (6) Repurchase upon a Change in Control and Sale of Assets. Upon the occurrence of (a) a
Change in Control, each Holder shall have the right to require that the Company repurchase such
Holder’s Notes at a purchase price in cash equal to 101% of the principal amount thereof on the
date of purchase, plus accrued and unpaid interest to, but excluding, the date of purchase and
(b) an Asset Sale, the Company may be obligated to make an offer to purchase on a pro rata basis
from the Holders the Notes with the Excess Proceeds of such Asset Sales at a purchase price equal
to 100% of the principal amount of such Notes plus accrued interest to, but excluding, the date of
purchase.

     (7) Denominations; Transfer; Exchange. The Notes are in fully registered form without coupons,
in denominations of $2,000 and any integral multiples of $1,000 (or in amounts of $1.00 or whole
multiples of $1.00 in excess thereof for PIK Interest amounts). A Holder may register the transfer
or exchange of Notes in accordance with the Indenture. The Registrar may require a Holder, among
other things, to furnish appropriate endorsements and transfer documents and to pay any taxes and
fees required by law or permitted by the Indenture.

     (8) Persons Deemed Owners. A Holder as reflected in the Register may be treated as the owner
of a Note for all purposes by the Trustee, the Company and the Guarantors.

     (9) Unclaimed Money. If money for the payment of principal, premium, if any, or interest
remains unclaimed for two years, the Trustee and the Paying Agent will pay the money back to the
Company at its written request. After that, Holders entitled to the money must look to the Company
for payment, unless an abandoned property law designates another Person, and all liability of the
Trustee and such Paying Agent with respect to such money shall cease.

     (10) Discharge Prior to Redemption or Maturity. If the Company irrevocably deposits, or causes
to be deposited, with the Trustee money or U.S. Government Obligations sufficient to pay the then
outstanding principal of and premium, if any, and accrued interest on the Notes (a) to redemption
or maturity, the Company will be discharged from the Indenture and the Notes, except in certain
circumstances for certain sections thereof, and (b) to redemption or maturity, the Company will be
discharged from certain covenants all as set forth in the Indenture.

     (11) Amendment; Supplement; Waiver. Subject to certain exceptions, the Indenture or the Notes
may be amended or supplemented with the consent of the Holders of at least a majority in aggregate
principal amount of the Notes then Outstanding, and any existing Default or compliance with any
provision may be waived with the consent of the Holders or a majority in aggregate principal amount
of the Notes then Outstanding. Without notice to or the consent of any Holder, the parties thereto
may amend the Indenture or the Notes to the extent set forth in the Indenture.

     (12) Restrictive Covenants. The Indenture contains certain covenants, including, without
limitation, covenants with respect to the following matters: (i) Debt; (ii) Restricted Payments;
(iii) distributions from Restricted Subsidiaries; (iv) sales of assets; (v) transactions with
Affiliates; (vi) Liens; (vii) repurchase of Notes upon a Change in Control; (viii) Guarantees; and
(ix) consolidation, merger and sale of assets. Within 90 days after the end of each fiscal year,
the Company must report to the Trustee on compliance with such limitations.

A-7 

 

     (13) Successor Persons. When a successor person or other entity (other than a Subsidiary of
the Company) assumes all the obligations of its predecessor under the Notes and the Indenture, the
predecessor person will be released from those obligations.

     (14) Remedies for Events of Default. If an Event of Default (other than a Bankruptcy Default)
occurs and is continuing under this Indenture, then in every such case the Trustee or the Holders
of at least 25% in aggregate principal amount of the Outstanding Notes, by written notice to the
Company (and to the Trustee if such notice is given by the Holders), may, and the Trustee at the
written request of such Holders shall, declare the principal of, premium, if any, and accrued
interest on all of the Outstanding Notes to be immediately due and payable. Upon a declaration of
acceleration, such principal of, premium, if any, and accrued interest shall be immediately due and
payable. If a Bankruptcy Default occurs, the principal of, premium, if any, and accrued interest on
the Outstanding Notes shall become and be immediately due and payable without any declaration or
other act on the part of the Trustee or any Holder. The Holders of at least a majority in aggregate
principal amount of the Outstanding Notes by written notice to the Company and to the Trustee, may
waive all past defaults and rescind and annul a declaration of acceleration and its consequences if
(i) all existing Events of Default, other than the nonpayment of the principal of, premium, if any,
and interest on the Notes that have become due solely by the declaration of acceleration, have been
cured or waived, and (ii) the rescission would not conflict with any judgment or decree of a court
of competent jurisdiction.

     Notwithstanding the foregoing, if the Company so elects, the sole remedy of the Holders for
(x) a failure to comply with any obligations that the Company may have or may be deemed to have
pursuant to Section 314(a)(1) of the TIA or (y) the Company’s failure to comply with Section 4.04
of the Indenture, will for the first 240 days after the occurrence of such failure consist
exclusively of the right to receive additional interest on the Notes at a rate per annum: equal to
(i) 0.25% for the first 150 days after the occurrence of such failure (which 150th day will be the
90th day after written notice of such failure to comply is provided as set forth above) and (ii)
0.50% from the 151st day to, and including, the 240th day after the occurrence of such failure
(“Additional Interest”). Additional Interest will accrue on all outstanding Notes from and
including the date on which such failure first occurs until such violation is cured or waived and
shall be payable on each relevant Interest Payment Date to Holders of record on the Regular Record
Date immediately preceding such Interest Payment Date. On the 241st day after such failure (if
such violation is not cured or waived prior to such 241st day), such failure will then constitute
an Event of Default without any further notice or lapse of time and the Notes will be subject to
acceleration as provided above. Unless the context requires otherwise, all references to
“interest” contained herein shall be deemed to include Additional Interest.

     Holders may not enforce the Indenture, the Notes or the Note Guaranties except as provided in
the Indenture. The Trustee may require security or indemnity satisfactory to it before it enforces
the Indenture, the Notes or the Note Guaranties. The Holders of at least a majority in aggregate
principal amount of the Notes then Outstanding may direct the Trustee in the exercise of any trust
or power in accordance with the terms of the Indenture.

A-8 

 

     (15) Note Guaranties. Each Guarantor irrevocably and unconditionally guarantees, jointly and
severally, on a senior basis, the full and punctual payment (whether at Stated Maturity, upon
acceleration, optional redemption, upon repurchase following an Offer to Purchase or otherwise) of
the principal of, premium, if any, and interest on, and all other amounts payable under, this Note
provided for under the Indenture, and the full and punctual payment of all other amounts payable by
the Company under the Indenture; provided that, notwithstanding anything to the contrary herein,
the aggregate amount of the Obligations guaranteed under the Indenture by any Guarantor shall be
limited in amount to the maximum amount that would not render such Guarantor’s obligations subject
to avoidance under the applicable fraudulent conveyance provisions of the United States Bankruptcy
Code or any comparable provision of any applicable state law.

     (16) Additional Guarantees. If (a) the Company or any of its Restricted Subsidiaries acquires
or creates a Wholly Owned Domestic Restricted Subsidiary (other than any such Subsidiary that is an
Excluded Subsidiary) or (b) any Wholly Owned Domestic Restricted Subsidiary that is an Excluded
Subsidiary ceases to be an Excluded Subsidiary, such Wholly Owned Domestic Restricted Subsidiary
must provide a Note Guaranty within 30 days after such acquisition or creation or after the date on
which such Subsidiary ceases to be an Excluded Subsidiary, as the case may be, by executing a
supplemental indenture.

     (17) Trustee Dealings with Company. The Trustee under the Indenture, in its individual or any
other capacity, may become the owner or pledgee of Notes and may make loans to, accept deposits
from, perform services for, and otherwise deal with, the Company and its Affiliates as if it were
not the Trustee.

     (18) Authentication. This Note shall not be valid until the Trustee signs the certificate of
authentication on this Note.

     (19) Abbreviations. Customary abbreviations may be used in the name of a Holder or an
assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (=
joint tenants with right of survivorship and not as tenants in common), COST (= Custodian) and
U/G/M/A (= Uniform Gifts to Minors Act).

     (20) Governing Law. This Note shall be governed by and construed in accordance with the
internal laws of the State of New York, without giving effect to any principles of conflict of laws
to the extent that the application of the law of another jurisdiction is required thereby.

     The Company will furnish to any Holder upon written request and without charge a copy of the
Indenture. Requests may be made to the Company, 343 State Street, Rochester, New York 14650,
Attention: General Counsel.

A-9 

 

[FORM OF TRANSFER NOTICE]

     FOR VALUE RECEIVED the undersigned registered holder hereby sell(s), assign(s) and transfer(s)
unto

	 	 	 
	Insert Taxpayer Identification No.
	 
	 	 
	 

	 	 
	(Please print or typewrite name and address including zip code of assignee)
	 
	 	 
	 

	 	 
	the within Note and all rights thereunder, hereby irrevocably constituting and appointing
	 
	 	 
	 

	 	 
	attorney to transfer such Note on the books of the Company with full power of substitution in the
premises.

A-10 

 

OPTION OF HOLDER TO ELECT PURCHASE

     If you wish to have this Note purchased by the Company pursuant to Section 4.09 or
Section 4.12 of the Indenture, check the box: o

     If you wish to have a portion of this Note purchased by the Company pursuant to Section 4.09
or Section 4.12 of the Indenture, state the amount (in original principal amount) below:

     $                                         

     Date:                                         

	 	 	 	 	 
	Your Signature:
	 	 	 	 
	 

	 	 
	(Sign exactly as your name appears on the other side of this Note)
	 
	 	 	 	 
	Signature Guarantee:
	 	 	 	 
	 

	 	 

	 	 

     Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements
of the Registrar, which requirements include membership or participation in the Security Transfer
Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined
by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the
Securities Exchange Act of 1934, as amended.

A-11 

 

SCHEDULE OF EXCHANGES OF SECURITIES

     The following exchanges of a part of this Global Note for Physical Notes or a part of another
Global Note have been made:

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Principal amount of this	 	 
	 	 	Amount of decrease in	 	Amount of increase in	 	Global Note following	 	 
	 	 	principal amount of this	 	principal amount of this	 	such decrease (or	 	Signature of authorized
	Date of Exchange	 	Global Note	 	Global Note	 	increase)	 	officer of Trustee
	 	 	 	 	 	 	 	 	 

A-12 

 

EXHIBIT B

SUPPLEMENTAL INDENTURE

dated as of                     ,           

among

EASTMAN KODAK COMPANY,

as Company

[GUARANTORS]

and

THE BANK OF NEW YORK MELLON,

as Trustee

10.50% Senior Notes due 2017

 

 

     THIS SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), entered into as of                     ,
___, among EASTMAN KODAK COMPANY, a New Jersey corporation (the “Company”) [INSERT EACH GUARANTOR
EXECUTING THIS SUPPLEMENTAL INDENTURE AND ITS JURISDICTION OF INCORPORATION] (each an
“Undersigned”) and THE BANK OF NEW YORK MELLON, as trustee (the “Trustee”).

RECITALS

     WHEREAS, the Company, the Guarantors party thereto and the Trustee entered into the Indenture,
dated as of September 29, 2009 (the “Indenture”), relating to the Company’s 10.50% Senior Notes due
2017 (the “Notes”);

     WHEREAS, as a condition to the Trustee entering into the Indenture and the purchase of the
Notes by the Holders, the Company agreed, subject to certain exceptions, pursuant to Section 4.18
of the Indenture to cause any Domestic Restricted Subsidiary (other than any such Subsidiary that
is an Excluded Subsidiary) to provide Note Guaranties.

AGREEMENT

     NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained and
intending to be legally bound, the parties hereto hereby agree as follows:

     Section 1. Capitalized terms used herein and not otherwise defined herein are used as defined
in the Indenture.

     Section 2. Each Undersigned, by its execution of this Supplemental Indenture, agrees to be a
Guarantor under the Indenture and to be bound by the terms of the Indenture applicable to
Guarantors, including, but not limited to, Article 13 thereof.

     Section 3. This Supplemental Indenture shall be governed by and construed in accordance with
the internal laws of the State of New York.

     Section 4. This Supplemental Indenture may be signed in various counterparts which together
shall constitute one and the same instrument.

     Section 5. This Supplemental Indenture is an amendment supplemental to the Indenture and said
Indenture and this Supplemental Indenture shall henceforth be read together.

B-2 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Supplemental Indenture
or have caused this Supplemental Indenture to be duly executed on their respective behalf by their
respective officers thereunto duly authorized, as of the day and year first above written.

	 	 	 	 	 
	 	EASTMAN KODAK COMPANY

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[GUARANTORS]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	THE BANK OF NEW YORK MELLON,

as Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

B-3 

 

EXHIBIT C

RESTRICTED LEGEND

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE
FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER

(1) REPRESENTS THAT IT AND ANY ACCOUNT FOR WHICH IT IS ACTING IS A “QUALIFIED INSTITUTIONAL
BUYER” (WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT) AND THAT IT EXERCISES SOLE
INVESTMENT DISCRETION WITH RESPECT TO EACH SUCH ACCOUNT, AND

(2) AGREES FOR THE BENEFIT OF THE COMPANY THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE
TRANSFER THIS NOTE OR ANY BENEFICIAL INTEREST HEREIN, EXCEPT IN ACCORDANCE WITH THE
SECURITIES ACT AND ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES AND ONLY

(A) TO THE COMPANY,

(B) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BECOME EFFECTIVE UNDER THE
SECURITIES ACT,

(C) TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE
SECURITIES ACT, OR

(D) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT OR ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF
THE SECURITIES ACT.

PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH (2)(C) ABOVE, A DULY COMPLETED AND
SIGNED CERTIFICATE (THE FORM OF WHICH MAY BE OBTAINED FROM THE TRUSTEE) MUST BE DELIVERED TO THE
TRUSTEE. PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH (2)(D) ABOVE, THE COMPANY
RESERVES THE RIGHT TO REQUIRE THE DELIVERY OF SUCH LEGAL OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE
AS MAY REASONABLY BE REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN
COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. NO REPRESENTATION IS MADE
AS TO THE AVAILABILITY OF

C-1 

 

ANY RULE 144 EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT.

C-2 

 

EXHIBIT D

DTC LEGEND

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH
OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE
& CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS A BENEFICIAL INTEREST HEREIN.

TRANSFERS OF THIS GLOBAL NOTE ARE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF
CEDE & CO. OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS
GLOBAL NOTE ARE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE TRANSFER PROVISIONS OF THE
INDENTURE.

D-1 

 

EXHIBIT E

OID LEGEND

THIS NOTE IS BEING ISSUED WITH ORIGINAL ISSUE DISCOUNT FOR UNITED STATES FEDERAL INCOME TAX
PURPOSES. FOR INFORMATION REGARDING THE ISSUE PRICE, THE TOTAL AMOUNT OF ORIGINAL ISSUE DISCOUNT,
THE ISSUE DATE, AND THE YIELD TO MATURITY OF THIS SECURITY, PLEASE CONTACT THE TREASURER OF EASTMAN
KODAK COMPANY AT 343 STATE STREET, ROCHESTER, NEW YORK 14650, (FACSIMILE: (585) 724-5174)

E-1 

 

EXHIBIT F

SECOND LIEN LEGEND

NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, THE LIENS AND SECURITY INTEREST GRANTED TO THE
SECOND LIEN COLLATERAL AGENT, FOR THE BENEFIT OF THE HOLDERS, PURSUANT TO THIS AGREEMENT AND THE
SECURITY AGREEMENTS AND THE EXERCISE OF ANY RIGHT OR REMEDY BY THE SECOND LIEN COLLATERAL AGENT,
FOR THE BENEFIT OF THE HOLDERS, HEREUNDER ARE SUBJECT TO THE PROVISIONS OF THE INTERCREDITOR
AGREEMENT. IN THE EVENT OF ANY CONFLICT BETWEEN THE TERMS OF THE INTERCREDITOR AGREEMENT AND THIS
INDENTURE OR THE SECURITY AGREEMENTS, THE TERMS OF THE INTERCREDITOR AGREEMENT SHALL GOVERN.

F-1 

 

EXHIBIT G

Rule 144A Certificate

                    ,           

The Bank of New York

101 Barclay Street, 8W

New York, New York, 10286

Attention: Corporation Trust Administration

			
	Re:	 	EASTMAN KODAK COMPANY

Senior Notes due 2017 (the “Notes”)

Issued under the Indenture (the “Indenture”)

Dated as of September 29, 2009

Ladies and Gentlemen:

     This Certificate relates to:

     [CHECK A OR B AS APPLICABLE.]

	 	 	 
	o A.

	 	Our proposed purchase of $ ___ principal amount of Notes issued
under the Indenture.
	 
	 	 
	o B.

	 	Our proposed exchange of $ ___ principal amount of Notes issued
under the Indenture for an equal principal amount of Notes to be
held by us.

     We and, if applicable, each account for which we are acting in the aggregate owned and
invested more than $100,000,000 in securities of issuers that are not affiliated with us (or such
accounts, if applicable), as of                     , 20___, which is a date on or since
close of our most recent fiscal year. We and, if applicable, each account for which we are acting,
are a qualified institutional buyer within the meaning of Rule 144A (“Rule 144A”) under the
Securities Act of 1933, as amended (the “Securities Act”). If we are acting on behalf of an
account, we exercise sole investment discretion with respect to such account. We are aware that the
transfer of Notes to us, or such exchange, as applicable, is being made in reliance upon the
exemption from the provisions of Section 5 of the Securities Act provided by Rule 144A. Prior to
the date of this Certificate we have received such information regarding the Company as we have
requested pursuant to Rule 144A(d)(4) or have determined not to request such information.

G-1 

 

     You and the Company are entitled to rely upon this Certificate and are irrevocably authorized
to produce this Certificate or a copy hereof to any interested party in any administrative or legal
proceeding or official inquiry with respect to the matters covered hereby.

	 	 	 	 	 
	 	Very truly yours,

[NAME OF PURCHASER (FOR TRANSFERS)

OR OWNER (FOR EXCHANGES)]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Date:                                         

G-2exv10w1

Exhibit 10.1

Execution Version

SECURITY AGREEMENT

Dated as of September 29, 2009

Among

EACH OF THE GRANTORS REFERRED TO HEREIN

as Grantors

and

THE BANK OF NEW YORK MELLON

as Collateral Agent

 

 

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

	 	 	 	 	 
	Section	 	Page	 
	 
	Section 1. Grant of Security
	 	 	2	 
	 
	 	 	 	 
	Section 2. Security for Obligations; Intercreditor Agreement
	 	 	6	 
	 
	 	 	 	 
	Section 3. Grantors Remain Liable
	 	 	7	 
	 
	 	 	 	 
	Section 4. Delivery and Control of Security Collateral
	 	 	7	 
	 
	 	 	 	 
	Section 5. Maintaining the Account Collateral
	 	 	8	 
	 
	 	 	 	 
	Section 6. Representations and Warranties
	 	 	9	 
	 
	 	 	 	 
	Section 7. Further Assurances
	 	 	13	 
	 
	 	 	 	 
	Section 8. As to Equipment and Inventory
	 	 	14	 
	 
	 	 	 	 
	Section 9. Insurance
	 	 	14	 
	 
	 	 	 	 
	Section 10. Post-Closing Changes; Collections on Assigned Agreements and Receivables
	 	 	15	 
	 
	 	 	 	 
	Section 11. As to Intellectual Property Collateral
	 	 	16	 
	 
	 	 	 	 
	Section 12. Voting Rights; Dividends; Etc.
	 	 	18	 
	 
	 	 	 	 
	Section 13. As to the Assigned Agreements
	 	 	19	 
	 
	 	 	 	 
	Section 14. As to Letter-of-Credit Rights
	 	 	20	 
	 
	 	 	 	 
	Section 15. Transfers and Other Liens; Additional Shares; Additional Security
	 	 	20	 
	 
	 	 	 	 
	Section 16. Collateral Agent Appointed Attorney in Fact
	 	 	22	 
	 
	 	 	 	 
	Section 17. Collateral Agent May Perform
	 	 	23	 
	 
	 	 	 	 
	Section 18. The Collateral Agent’s Duties
	 	 	23	 
	 
	 	 	 	 
	Section 19. Remedies
	 	 	24	 
	 
	 	 	 	 
	Section 20. Collateral Trust Agreement; Requests by Collateral Agent
	 	 	25	 
	 
	 	 	 	 
	Section 21. Amendments; Waivers; Additional Grantors; Etc.
	 	 	26	 
	 
	 	 	 	 
	Section 22. Confidentiality; Notices; References
	 	 	26	 
	 
	 	 	 	 
	Section 23. Continuing Security Interest; Transfers Under the Second Lien Documents
	 	 	28	 
	 
	 	 	 	 
	Section 24. Release
	 	 	28	 
	 
	 	 	 	 
	Section 25. Execution in Counterparts
	 	 	28	 
	 
	 	 	 	 
	Section 26. Governing Law
	 	 	28	 
	 
	 	 	 	 
	Section 27. Intercreditor Agreement
	 	 	29	 

i

 

	 	 	 	 	 
	Schedules
	 	 	 	 
	 
	 	 	 	 
	Schedule I

	 	—
	 	Investment Property
	Schedule II

	 	—
	 	Pledged Deposit Accounts
	Schedule III

	 	—
	 	Receivables and Agreement Collateral
	Schedule IV

	 	 	 	Intellectual Property
	Schedule V

	 	—
	 	Location, Chief Executive Office, Type of Organization, Jurisdiction of
Organization and Organizational Identification Number
	Schedule VI

	 	—
	 	Changes in Name, Location, Etc.
	Schedule VII

	 	—
	 	Letters of Credit
	Schedule VIII

	 	—
	 	Equipment Locations
	Schedule IX

	 	—
	 	Inventory Locations
	Schedule X

	 	—
	 	Collateral Reserved for Sale
	Schedule XI

	 	—
	 	Closing Date Pledged Deposit Accounts
	 
	 	 	 	 
	Exhibits
	 	 	 	 
	 
	 	 	 	 
	Exhibit A

	 	—
	 	Form of Intellectual Property Security Agreement
	Exhibit B

	 	—
	 	Form of Intellectual Property Security Agreement Supplement
	Exhibit C

	 	—
	 	Form of Security Agreement Supplement

ii

 

          This SECURITY AGREEMENT, dated as of
September 29, 2009 (as amended, amended and restated,
supplemented or otherwise modified from time to time, this “Agreement”), is made by EASTMAN KODAK
COMPANY, a New Jersey corporation (the “Company”), each direct or indirect subsidiary of the
Company listed on the signature pages hereof, or which at any time executes and delivers a Security
Agreement Supplement (the Company and such subsidiaries, collectively, the “Grantors”, and each,
individually, a “Grantor”), in favor of THE BANK OF NEW YORK MELLON, as collateral agent (in such
capacity, together with its successors and assigns from time to time, the “Collateral Agent”) for
the Second Lien Secured Parties.

PRELIMINARY STATEMENTS:

          WHEREAS, the Company, the Guarantors, the Collateral Agent and The Bank of New York Mellon, as
trustee (in such capacity, together with its successors and assigns from time to time, the
“Trustee”), are parties to that certain Indenture, dated as of September 29, 2009 (as amended,
amended and restated, supplemented or otherwise modified from time to time, the “Indenture”);

          WHEREAS, the Company, Kodak Canada Inc., the Guarantors, Citicorp USA, Inc., as agent (in such
capacity, together with its successors and assigns from time to time, the “First Lien Agent”), and
certain financial institutions party thereto from time to time are parties to that certain Amended
and Restated Credit Agreement, dated as of March 31, 2009 (as amended by Amendment No. 1 to the
Amended and Restated Credit Agreement, dated as of September 17, 2009 (“Amendment No. 1”), and as
further amended, amended and restated, supplemented or otherwise modified from time to time, and
any Permitted Refinancing thereof (as such term is defined in the Intercreditor Agreement set forth
below) the “First Lien Credit Agreement”);

          WHEREAS, the Company, the Guarantors, the Collateral Agent, on behalf of the Second Lien
Secured Parties, and the First Lien Agent, on behalf of the First Lien Secured Parties (as defined
therein), are parties to that certain Intercreditor Agreement, dated
as of September 29, 2009 (as
amended, amended and restated, supplemented or otherwise modified from time to time, the
“Intercreditor Agreement”);

          WHEREAS, the Company, the Guarantors and the Collateral Agent are parties to that certain
Collateral Trust Agreement, dated as of September 29, 2009 (as amended, amended and restated,
supplemented or otherwise modified from time to time, the “Collateral Trust Agreement”);

          WHEREAS, the Company may from time to time incur additional indebtedness permitted to be
secured on an equal and ratable basis with the obligations under the Indenture, which additional
indebtedness shall be incurred in accordance with the First Lien Credit Agreement, the Second Lien
Indenture and the Collateral Trust Agreement;

          WHEREAS, each Grantor is the owner of the shares of stock or other Equity Interests (the
“Initial Pledged Equity”) set forth opposite such Grantor’s name on and as otherwise described in
Part I of Schedule I hereto and issued by the Persons named therein and

 

 

of the indebtedness owed to such Grantor (the “Initial Pledged Debt”) set forth opposite such
Grantor’s name on and as otherwise described in Part II of Schedule I hereto and issued by the
obligors named therein;

          WHEREAS, each Grantor is the owner of the deposit accounts (the “Pledged Deposit Accounts”)
set forth opposite such Grantor’s name on Schedule II hereto;

          WHEREAS, the Company is or may become the owner of an “L/C Cash Deposit Account” as defined in
the First Lien Credit Agreement as in effect on the date hereof (the “L/C Cash Deposit Account”)
created in accordance with the First Lien Credit Agreement and subject to the security interest
granted under this Agreement on terms and conditions acceptable to the First Lien Agent;

          WHEREAS, it is a requirement under the Indenture that the Grantors shall have granted the
security interest contemplated by this Agreement. Each Grantor will derive substantial direct or
indirect benefit from the transactions contemplated by this Agreement, the Indenture and the other
related Second Lien Documents; and

          WHEREAS, capitalized terms not defined herein shall have the meanings ascribed to such terms
in the Collateral Trust Agreement, and, if a capitalized term is not defined in the Collateral
Trust Agreement, it shall have the meaning ascribed thereto in the Indenture. Further, unless
otherwise defined in this Agreement, the Collateral Trust Agreement or in the Indenture, terms
defined in Article 8 or 9 of the UCC (as defined below) are used in this Agreement as such terms
are defined in such Article 8 or 9. “UCC” means the Uniform Commercial Code as in effect from time
to time in the State of New York; provided that, if perfection or the effect of perfection or non
perfection or the priority of the security interest in any Collateral is governed by the Uniform
Commercial Code as in effect in a jurisdiction other than the State of New York, “UCC” means the
Uniform Commercial Code as in effect from time to time in such other jurisdiction for purposes of
the provisions hereof relating to such perfection, effect of perfection or non perfection or
priority.

          NOW, THEREFORE, in consideration of the premises and in order to induce the purchasers named
therein to enter into the Purchase Agreement, Holders from time to time to hold the Notes, and the
Trustee to enter into the Indenture, each Grantor hereby agrees with the Collateral Agent, for the
ratable benefit of the Second Lien Secured Parties, as follows:

          Section 1. Grant of Security. Each Grantor hereby grants to the Collateral Agent, for the ratable benefit of the Second
Lien Secured Parties, a security interest in such Grantor’s right, title and interest in and to the
following, in each case, as to each type of property described below, whether now owned or
hereafter acquired by such Grantor, wherever located, and whether now or hereafter existing or
arising (collectively, the “Collateral”):

          (a) all equipment in all of its forms, including, without limitation, all machinery, tools,
motor vehicles, vessels, aircraft and furniture (excepting all fixtures), and all parts thereof and
all accessions thereto, including, without limitation, computer programs and
supporting information that constitute equipment within the meaning of the UCC (any and all
such property being the “Equipment”);

2

 

          (b) all inventory in all of its forms, including, without limitation, (i) all raw materials,
work in process, finished goods and materials used or consumed in the manufacture, production,
preparation or shipping thereof, (ii) goods in which such Grantor has an interest in mass or a
joint or other interest or right of any kind (including, without limitation, goods in which such
Grantor has an interest or right as consignee) and (iii) goods that are returned to or repossessed
or stopped in transit by such Grantor, and all accessions thereto and products thereof and
documents therefor, including, without limitation, computer programs and supporting information
that constitute inventory within the meaning of the UCC (any and all such property being the
“Inventory”);

          (c) all accounts, instruments (including, without limitation, promissory notes), deposit
accounts, general intangibles (including, without limitation, payment intangibles) and other
obligations of any kind owing to Grantors, whether or not arising out of or in connection with the
sale or lease of goods or the rendering of services and whether or not earned by performance (any
and all such instruments, deposit accounts, general intangibles and other obligations to the extent
not referred to in clause (d), (e) or (f) below, being the “Receivables”, subject to restrictions
on assignment and/or transfer, and all such supporting obligations, security agreements, Liens,
leases, letters of credit and other contracts owing to the Grantors or supporting the obligations owing
to the Grantors under the Receivables being the “Related Contracts”);

          (d) the following (the “Security Collateral”):

          (i) the Initial Pledged Equity and the certificates, if any, representing the Initial
Pledged Equity, and all dividends, distributions, return of capital, cash, instruments and
other property from time to time received, receivable or otherwise distributed in respect of
or in exchange for any or all of the Initial Pledged Equity and all warrants, rights or
options issued thereon or with respect thereto;

          (ii) the Initial Pledged Debt and the instruments, if any, evidencing the Initial
Pledged Debt, and all interest, cash, instruments and other property from time to time
received, receivable or otherwise distributed in respect of or in exchange for any or all of
the Initial Pledged Debt;

          (iii) all additional shares of stock and other Equity Interests from time to time
acquired by such Grantor in any manner of the issuers of such Pledged Equity or of each
direct Subsidiary of the Company that, for the most recently completed fiscal year of the
Company for which audited financial statements are available, either (A)  has, together with
its Subsidiaries, assets that exceed 5% of the total assets shown on the consolidated
statement of financial condition of the Company as of the last day of such period or
(B) has, together with its Subsidiaries, net sales that exceed 5% of the consolidated net
sales of the Company for such period (each, a “Material Subsidiary”), provided that not more
than 65% of the equity in any Foreign Subsidiary shall be subject to the pledge hereunder
(such shares and other Equity Interests, together with the Initial Pledged Equity, being the
“Pledged Equity”), and the certificates, if any, representing
such additional shares or other Equity Interests, and all dividends, distributions,
return of capital, cash, instruments and other property from time to time received,
receivable or

3

 

otherwise distributed in respect of or in exchange for any or all of such
shares or other Equity Interests and all warrants, rights or options issued thereon or with
respect thereto;

          (iv) all additional indebtedness from time to time owed to such Grantor (such
indebtedness, together with the Initial Pledged Debt, being the “Pledged Debt”) and the
instruments, if any, evidencing such indebtedness, and all interest, cash, instruments and
other property from time to time received, receivable or otherwise distributed in respect of
or in exchange for any or all of such indebtedness;

          (v) subject to restrictions on assignment and/or transfer, all security entitlements or
commodity contracts carried in a securities account or commodity account, all security
entitlements with respect to all financial assets from time to time credited to the L/C Cash
Deposit Account and all financial assets, and all dividends, distributions, return of
capital, interest, cash, instruments and other property from time to time received,
receivable or otherwise distributed in respect of or in exchange for any or all of such
security entitlements or financial assets and all warrants, rights or options issued thereon
with respect thereto; and

          (vi) subject to restrictions on assignment and/or transfer, all other investment
property (including, without limitation, all (A) securities, whether certificated or
uncertificated, (B) security entitlements, (C) securities accounts, (D) commodity contracts
and (E) commodity accounts, but excluding any Equity Interest in any affiliate excluded from
the Pledged Equity in which such Grantor has now, or acquires from time to time hereafter,
any right, title or interest in any manner) and the certificates or instruments, if any,
representing or evidencing such investment property, and all dividends, distributions,
return of capital, interest, cash, instruments and other property from time to time
received, receivable or otherwise distributed in respect of or in exchange for any or all of
such investment property and all warrants, rights or options issued thereon or with respect
thereto;

          (e) subject to restrictions on assignment and/or transfer, each Hedging Agreement to which
such Grantor is now or may hereafter become a party, in each case as such agreements may be
amended, amended and restated, supplemented or otherwise modified from time to time (collectively,
the “Assigned Agreements”), including, without limitation, (i) all rights of such Grantor to
receive moneys due and to become due under or pursuant to the Assigned Agreements, (ii) all rights
of such Grantor to receive proceeds of any insurance, indemnity, warranty or guaranty with respect
to the Assigned Agreements, (iii) claims of such Grantor for damages arising out of or for breach
of or default under the Assigned Agreements and (iv) the right of such Grantor to terminate the
Assigned Agreements, to perform thereunder and to compel performance and otherwise exercise all
remedies thereunder (all such Collateral being the “Agreement Collateral”);

          (f) the following (collectively, the “Account Collateral”):

          (i) the Pledged Deposit Accounts, the L/C Cash Deposit Account and all funds and
financial assets from time to time credited thereto (including, without limitation, all cash
equivalents), and all certificates and instruments, if any, from time to

4

 

time representing
or evidencing the Pledged Deposit Accounts or the L/C Cash Deposit Account;

          (ii) all promissory notes, certificates of deposit, checks and other instruments from
time to time delivered to or otherwise possessed by the Collateral Agent for or on behalf of
such Grantor in substitution for or in addition to any or all of the then existing Account
Collateral or possessed by the First Lien Agent as bailee for the Collateral Agent; and

          (iii) all interest, dividends, distributions, cash, instruments and other property from
time to time received, receivable or otherwise distributed in respect of or in exchange for
any or all of the then existing Account Collateral; and

          (g) the following (collectively, the “Intellectual Property Collateral”):

          (i) all patents, patent applications, utility models and statutory invention
registrations, all inventions claimed or disclosed therein and all improvements thereto,
other than those patents and related rights currently contemplated to be sold by the Company
or any other Grantor listed in Schedule IV(A)(i) attached hereto (“Patents”);

          (ii) all trademarks, service marks, domain names, trade dress, logos, designs, slogans,
trade names, business names, corporate names and other source identifiers, whether
registered or unregistered, together, in each case, with the goodwill symbolized thereby
(“Trademarks”);

          (iii) all copyrights, including, without limitation, copyrights in computer software,
internet web sites and the content thereof, whether registered or unregistered
(“Copyrights”); all confidential and proprietary information, including, without limitation,
know-how, trade secrets, manufacturing and production processes and techniques, inventions,
research and development information, databases and data, including, without limitation,
technical data, financial, marketing and business data, pricing and cost information,
business and marketing plans and customer and supplier lists and information (collectively,
“Trade Secrets”), and all other intellectual, industrial and intangible property of any
type, including, without limitation, industrial designs and mask works;

          (iv) except as set forth above, all registrations and applications for registration for
any of the foregoing, including, without limitation, those registrations and applications
for registration, together with all reissues, divisions, continuations,
continuations-in-part, extensions, renewals and reexaminations thereof;

          (v) subject to restrictions on assignment and/or transfer, all agreements, permits,
consents, orders and franchises relating to the license, development, use or disclosure of
any of the foregoing to which such Grantor, now or hereafter, is a party or a beneficiary
(“IP Agreements”); and

5

 

           (vi) subject to restrictions on assignment and/or transfer, any and all claims for
damages and injunctive relief for past, present and future infringement,
dilution,
misappropriation, violation, misuse or breach with respect to any of the foregoing, with the
right, but not the obligation, to sue for and collect, or otherwise recover, such damages;
and

          (h) all proceeds of, collateral for, income, royalties and other payments now or hereafter due
and payable with respect to, and supporting obligations relating to, any and all of the Collateral
(including, without limitation, proceeds, collateral and supporting obligations that constitute
property of the types described in clauses (a) through (g) of this Section 1) and, to the extent
not otherwise included, all (A) payments under insurance (whether or not the Collateral Agent is
the loss payee thereof), or any indemnity, warranty or guaranty, payable by reason of loss or
damage to or otherwise with respect to any of the foregoing Collateral, and (B) cash;

provided, however, that in no event shall the Collateral include, and no lien or security interest
shall be created in, any asset which is, or hereafter becomes, a Principal Property or consists of
the Equity Interests in an entity which is, or hereafter becomes, a Principal Property Subsidiary
to the extent that any lien or security interest in such asset created under this Agreement would
require that the notes or other debt securities issued pursuant to the 1988 Indenture be equally
and ratably secured by such asset under the terms of the 1988 Indenture, or consists of the Equity
Interests in an entity which is, or hereafter becomes, a Securitization Subsidiary, and provided,
further, that notwithstanding anything herein to the contrary, in no event shall the Collateral
include or the security interest granted under this Section 1 hereof attach to: (A) any assets of
any Grantor located outside the United States (other than Equity Interests as otherwise provided in
this Agreement), (B) any deposit account for taxes, payroll, employee benefits or similar items and
any other account or financial asset in which such security interest would be unlawful or in
violation of any employee benefit plan or employee benefit agreement, (C) any lease, license,
contract, agreement or other property right (including any United States of America intent-to-use
trademark or service mark application), to which any Grantor is a party or of any of its rights or
interests thereunder if and for so long as the grant of such security interest shall constitute or
result in: (x) the abandonment, invalidation, unenforceability or other impairment of any right,
title or interest of any Grantor therein, or (y) in a breach or termination pursuant to the terms
of, or a default under, any such lease, license, contract, agreement or other property right, (D)
any of the outstanding capital stock of a Foreign Subsidiary in excess of 65% of the voting power
of all classes of capital stock of such Foreign Subsidiary entitled to vote, or (E) any real
property or fixture (all of the foregoing being referred to herein as the “Excluded Property”).

          Section 2. Security for Obligations; Intercreditor Agreement.

          (a) This Agreement secures, and the Collateral is collateral security for, the prompt and
complete payment or performance in full when due, whether at stated maturity, by required
prepayment, declaration, acceleration, repurchase, redemption, demand or otherwise (including the
payment of amounts that would become due but for the operation of the automatic stay under Section
362(a) of the Bankruptcy Law, 11 U.S.C. §362(a) (and any successor provision thereof)), of all
Second Lien Obligations (collectively, the “Secured Obligations”).

6

 

           (b) Notwithstanding anything herein to the contrary, the relative rights and remedies of the
Collateral Agent and the Second Lien Secured Parties and the obligations of the Grantors hereunder
shall be subject to and governed by the terms of the Intercreditor Agreement
at any time the
Intercreditor Agreement is in effect. At any time prior to the Discharge of First Lien
Obligations, in the case of Collateral as to which possession or control by Collateral Agent is
required under this Agreement, the Grantors shall be deemed to have satisfied such obligations by
delivery of such Collateral or the grant of control to First Lien Agent. In the event of any
inconsistency between the terms hereof and the Intercreditor Agreement, the Intercreditor Agreement
shall control at any time the Intercreditor Agreement is in effect.

          Section 3. Grantors Remain Liable. Anything herein to the contrary notwithstanding, (a) each Grantor shall remain liable under
the contracts and agreements included in such Grantor’s Collateral to perform all of its duties and
obligations thereunder to the extent set forth therein to the same extent as if this Agreement had
not been executed, (b) the exercise by the Collateral Agent of any of the rights hereunder shall
not release any Grantor from any of its duties or obligations under the contracts and agreements
included in the Collateral and (c) no Second Lien Secured Party shall have any obligation or
liability under the contracts and agreements included in the Collateral by reason of this Agreement
or any other Second Lien Document, nor shall any Second Lien Secured Party be obligated to perform
any of the obligations or duties of any Grantor thereunder or to take any action to collect or
enforce any claim for payment assigned hereunder.

          Section 4. Delivery and Control of Security Collateral.

          (a) Subject to the terms of the Intercreditor Agreement, all certificates or instruments
representing or evidencing existing Security Collateral shall be delivered to and held by or on
behalf of the Collateral Agent pursuant hereto and shall be in suitable form for transfer by
delivery, or shall be accompanied by duly executed instruments of transfer or assignment in blank,
all in form and substance reasonably satisfactory to the Collateral Agent except to the extent that
such transfer or assignment is (x) prohibited by applicable law or (y) subject to certain corporate
actions by the holders or issuers of non-US Initial Pledged Equity which have not occurred as of
the date such delivery is required and governmental approvals or consents to pledge or transfer
with respect to non-US Material Subsidiaries which have not yet been obtained as to which Grantor
shall use commercially reasonable effects to complete as soon as practicable after the date hereof.

          (b) Subject to the terms of the Intercreditor Agreement, with respect to any Security
Collateral representing interest in Material Subsidiaries in which any Grantor has any right, title
or interest and that constitutes an uncertificated security, such Grantor will use commercially
reasonable efforts to cause the issuer thereof to agree in an authenticated record with such
Grantor and the Collateral Agent that, upon notice from the Collateral Agent that an Event of
Default has occurred and is continuing, such issuer will comply with instructions with respect to
such security originated by the Collateral Agent without further consent of such Grantor, such
authenticated record to be in form and substance reasonably satisfactory to the Collateral Agent.
Upon the request of the Collateral Agent upon the occurrence and during the
continuance of an Event of Default, each Grantor will notify each issuer of other Security
Collateral as provided in Section 4(e) below.

7

 

           (c) Subject to the terms of the Intercreditor Agreement, with respect to any securities or
commodity account, any Security Collateral that constitutes a security entitlement as
to which the
financial institution acting as Collateral Agent hereunder is not the securities intermediary, upon
the request of the Collateral Agent upon the occurrence and during the continuance of an Event of
Default the relevant Grantor will use its commercially reasonable efforts to cause the securities
intermediary with respect to such security or commodity account or security entitlement to identify
in its records the Collateral Agent as the entitlement holder thereof.

          (d) Subject to the terms of the Intercreditor Agreement, upon the request of Collateral Agent
upon the occurrence and during the continuance of an Event of Default, each Grantor shall cause the
Security Collateral to be registered in the name of the Collateral Agent or such of its nominees as
the Collateral Agent shall direct, subject only to the revocable rights specified in Section 12(a).
In addition, subject to the terms of the Intercreditor Agreement, the Collateral Agent shall have
the right upon the occurrence and during the continuance of an Event of Default to convert Security
Collateral consisting of financial assets credited to any securities account or the L/C Cash
Deposit Account to Security Collateral consisting of financial assets held directly by the
Collateral Agent, and to convert Security Collateral consisting of financial assets held directly
by the Collateral Agent to Security Collateral consisting of financial assets credited to any
securities or commodity account or the L/C Cash Deposit Account.

          (e) Upon the request of the Collateral Agent upon the occurrence and during the continuance of
an Event of Default, each Grantor will notify each issuer of Security Collateral granted by it
hereunder that such Security Collateral is subject to the security interest granted hereunder.

          (f) Notwithstanding anything to the contrary in the Second Lien Documents, with respect to any
security documents under local law to be delivered with respect to Material Subsidiaries as of the
date of this Agreement, the Company shall have 60 days from the date of this Agreement to deliver
such security documents to the Collateral Agent, and no Event of Default shall arise as a result of
any failure to deliver such security documents prior to such time.

          Section 5. Maintaining the Account Collateral. So long as any Second Lien Obligation shall remain outstanding (other than any
indemnification obligations for which no claim or demand for payment, whether oral or written, has
been made):

          (a) Subject to the terms of the Intercreditor Agreement, with respect to any Pledged Deposit
Account, upon the request of the Collateral Agent made upon the occurrence and during the
continuance of an Event of Default, each Grantor will promptly enter into an agreement with the
financial institution holding the applicable Pledged Deposit Account pursuant to which such
financial institution shall agree with such Grantor and the Collateral Agent to, upon notice from
the Collateral Agent, comply with instructions originated by the Collateral Agent directing the
disposition of funds in such deposit account without the further
consent of such Grantor, such agreement to be in form and substance reasonably satisfactory to
the Collateral Agent (a “Deposit Account Control Agreement”), and instruct each Person obligated at
any time to make any payment to such Grantor for any reason (an “Obligor”) to make such payment to
any such Pledged Deposit Account or the L/C Cash Deposit Account; 

8

 

provided, however, that
notwithstanding the foregoing, the applicable Grantors shall use commercially reasonable efforts to
obtain Deposit Account Control Agreements with respect to  the Pledged Deposit Accounts listed on
Schedule XI hereto within sixty (60) days following the date hereof, as such period may be extended
in the Collateral Agent’s reasonable discretion.

          (b) Upon notice from the Collateral Agent that an Event of Default has occurred and is
continuing, each Grantor agrees to terminate any or all Pledged Deposit Accounts, other than those
Pledged Deposit Accounts (x) maintained with the First Lien Agent, or (y) subject to Deposit
Account Control Agreements, upon request by the Collateral Agent, subject to the terms of the
Intercreditor Agreement.

          (c) Subject to the terms of the Intercreditor Agreement, the Collateral Agent may, at any time
and without notice to, or consent from, the Grantor, transfer, or direct the transfer of, funds
from the Pledged Deposit Accounts or the L/C Cash Deposit Account to satisfy the Grantor’s
obligations under the Second Lien Documents if an Event of Default shall have occurred and be
continuing. As soon as reasonably practicable after any such transfer, the Collateral Agent agrees
to give written notice thereof to the applicable Grantor.

          Section 6. Representations and Warranties. Each Grantor represents and warrants as follows:

          (a) Such Grantor’s exact legal name, chief executive office, type of organization,
jurisdiction of organization and organizational identification number as of the date hereof is set
forth in Schedule V hereto. Within the twelve months preceding the date hereof, such Grantor has
not changed its name, chief executive office, type of organization, jurisdiction of organization or
organizational identification number from those set forth in Schedule V hereto except as set forth
in Schedule VI hereto.

          (b) Such Grantor is the legal and beneficial owner of the Collateral granted or purported to
be granted by it free and clear of any Lien, claim, option or right of others, except for the
security interest created under this Agreement or Liens permitted under the Indenture. No
effective financing statement or other instrument similar in effect covering all or any part of
such Collateral or listing such Grantor or any trade name of such Grantor as debtor is on file in
any recording office, except such as may exist on the date of this Agreement, have been filed in
favor of the First Lien Agent related to the First Lien Credit Agreement and related documents, the
Collateral Agent relating to the Second Lien Documents or are otherwise permitted under the
Indenture.

          (c) All Equipment of such Grantor having a value in excess of $10,000,000 and Inventory of
such Grantor having a value in excess of $10,000,000 as of the date hereof is located at the places
specified therefor in Schedule VIII and Schedule IX hereto, respectively. Such Grantor has
exclusive possession and control of its Inventory, other than Inventory stored at any leased
premises or third party warehouse.

          (d) None of the Receivables or Agreement Collateral is evidenced by a promissory note or other
instrument in excess of $10,000,000 that has not been delivered to the Collateral Agent or, at any
time prior to the Discharge of First Lien Obligations, the First Lien

9

 

Agent. All such Receivables
or Agreement Collateral valued in excess of $10,000,000 is listed on
Schedule III attached hereto.

          (e) All Security Collateral consisting of certificated securities and instruments with an
aggregate fair market value in excess of $10,000,000 for all such Security Collateral of the
Grantors have been delivered to the Collateral Agent or, at any time prior to the Discharge of
First Lien Obligations, the First Lien Agent.

          (f) If such Grantor is an issuer of Security Collateral, such Grantor confirms that it has
received notice of the security interest granted hereunder.

          (g) The Pledged Equity pledged by such Grantor hereunder has been duly authorized and validly
issued and is fully paid and non assessable. The Pledged Debt pledged by such Grantor hereunder
has been duly authorized, authenticated or issued and delivered, is the legal, valid and binding
obligation of the issuers thereof and, if evidenced by any promissory notes, such promissory notes
have been delivered to the Collateral Agent or, at any time prior to the Discharge of First Lien
Obligations, the First Lien Agent, and is not in default.

          (h) The Initial Pledged Equity pledged by such Grantor constitutes, as of the date hereof, 65%
of the issued and outstanding Equity Interests of the issuers thereof indicated on Part I of
Schedule I hereto. The Initial Pledged Debt constitutes all of the outstanding Debt for Borrowed
Money owed to such Grantor by the issuers thereof as of the date set forth on Part II of Schedule I
hereto.

          (i) Such Grantor has no investment property with a market value in excess of $10,000,000 as of
the date set forth on Part III of Schedule I hereto, other than the investment property listed
therein.

          (j) The Assigned Agreements to which such Grantor is a party have been duly authorized,
executed and delivered by such Grantor and, to such Grantor’s knowledge, any material Assigned
Agreements are in full force and effect and are binding upon and enforceable against all parties
thereto in accordance with their terms.

          (k) Such Grantor has no material deposit accounts subject to the grant or security in Section
1 of this Agreement as of the date hereof, other than the Pledged Deposit Accounts listed on
Schedule II hereto.

          (l) Such Grantor is not a beneficiary or assignee under any letter of credit with a stated
amount in excess of $10,000,000 and issued by a United States financial institution as of the date
hereof, other than the letters of credit described in Schedule VII hereto.

          (m) This Agreement creates in favor of the Collateral Agent, for the benefit of the Second
Lien Secured Parties, a valid security interest in the Collateral and is prior to all other Liens
on the Collateral other than Liens described in clauses 2(B), (3), (4), (6), (7), (8), (9), (12)
(except with respect to judgment liens), (13), (14), (15), (16), (17), (18), and (19) (solely as it
relates to clauses 2(B), (14), (15) or (16) of the definition of “Permitted Liens”) of the
definition of “Permitted Liens” under the Indenture and other Permitted Liens that arise by
operation of law and are not voluntarily granted, to the extent such Liens by law have priority
over the Liens

10

 

granted by this Agreement (collectively, “Permitted Priority Liens”), granted by
such Grantor under this Agreement, securing the payment of the Secured Obligations except to the
extent that control or possession by the Collateral Agent is required for the creation of the
security interest;  all filings and other actions necessary to perfect the security interest in the
Collateral granted by such Grantor have been duly made or taken and are in full force and effect
other than (i) actions necessary to obtain control of Collateral as provided in Sections 9-104,
9-105, 9-106 and 9-107 of the UCC; (ii) actions necessary to perfect the Collateral Agent’s
security interest with respect to Collateral evidenced by a certificate of title or Collateral
consisting of vessels or aircraft; (iii) actions necessary to transfer and prior approval of or
filings with any governmental entity required in connection with any interest in Pledged Equity;
and (iv) filings with respect to Intellectual Property Collateral except as are required to be made
under this Agreement; provided, however, that the Collateral Agent’s security interest hereunder
may not have priority with respect to (1) Account Collateral maintained with a financial
institution other than the First Lien Agent, the Collateral Agent or a financial institution party
to a Deposit Account Control Agreement then in effect, (2) assets encumbered by Liens on the date
of this Agreement (other than Liens in favor of First Lien Agent), (3) Collateral evidenced by a
certificate of title or consisting of vessels or aircraft, (4) Collateral subject to Permitted
Priority Liens, (5) Collateral with an aggregate book value of less than $10,000,000 and (6) other
Collateral to the extent consented to by the Collateral Agent (collectively, the “Specified
Collateral”).

          (n) 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 (i) the grant by
such Grantor of the security interest granted hereunder or for the execution, delivery or
performance of this Agreement by such Grantor, (ii) the perfection or maintenance of the security
interest created hereunder (including the second priority nature of such security interest in
Collateral other than the Specified Collateral), except for (A) the filing of financing and
continuation statements under the UCC, which financing statements have been duly filed and are in
full force and effect, (B) the recordation of the Intellectual Property Security Agreement with
respect to certain registered copyrights attached thereto, which has been delivered for recording
and is in full force and effect, and the actions described in Section 4 with respect to the
Security Collateral, (C) certain corporate actions by the holders or issuers of non-U.S. Initial
Pledged Equity which have not occurred as of date required hereunder, necessary to transfer or
assign, (D) the governmental filings required to be made or approvals obtained prior to the
creation of security interest in any Pledged Equity issued by a non-US Person and any filings or
approvals required prior to realizing on any such Pledged Equity, (E) the execution and delivery of
Amendment No. 1 by all parties thereto, which Amendment No. 1 is in full force and effect as of the
date hereof and (F) the control of certain assets as provided in Sections 9-104, 9-105, 9-106 and
9-107 of the UCC, or (iii) the exercise by the Collateral Agent of its voting or other rights
provided for in this Agreement or the remedies in respect of the Collateral pursuant to this
Agreement, except as set forth above and as may be required in connection with the disposition of
any portion of the Security Collateral by laws affecting the offering and sale of securities
generally.

          (o) The Inventory that has been produced or distributed by such Grantor has been produced in
compliance with all requirements of applicable law except where the failure to so comply would not
have a material adverse effect on (a) the business, condition (financial or otherwise), operations,
performance or properties of the Company and any Subsidiaries whose

11

 

accounts are consolidated with
the accounts of the Company in accordance with GAAP, taken as a whole, (b) the rights and remedies
of the Collateral Agent or any Second Lien Secured Party under any Secured Agreement or (c) the
ability of the Company and any other Grantor with assets included in Collateral having a value of
at least $50,000,000 as of the end of the preceding fiscal year of the Company to perform its
obligations under any Second Lien Documents to which it is a party ( a “Material Adverse Effect”).

          (p) As to itself and its Intellectual Property Collateral:

          (i) The operation of such Grantor’s business as currently conducted or as contemplated
to be conducted and the use of the Intellectual Property Collateral in connection therewith
do not conflict with, infringe, misappropriate, dilute, misuse or otherwise violate the
intellectual property rights of any third party, except as are not expected to have a
Material Adverse Effect.

          (ii) Such Grantor is the exclusive owner of all right, title and interest in and to
Patents, Trademarks and Copyrights contained in the Intellectual Property Collateral, except
as set forth in Schedule IV hereto as of the date set forth therein with respect to
co-ownership of certain Patents; and such Grantor is entitled to use all such Intellectual
Property Collateral in accordance with applicable law; in each case subject to the terms of
the IP Agreements.

          (iii) The Intellectual Property Collateral set forth on Schedule IV hereto includes all
of the registered patents, patent applications, domain names, trademark registrations and
applications, copyright registrations and applications owned by such Grantor as of the date
set forth therein.

          (iv) The issued Patents and registered Trademarks contained in the Intellectual
Property Collateral have not been adjudged invalid or unenforceable in whole or part, and to
the knowledge of the Company, are valid and enforceable, except to the extent Grantor has
ceased use of any such registered Trademarks.

          (v) Such Grantor has made or performed all filings, recordings and other acts and has
paid all required fees and taxes, as deemed necessary by Grantor in its reasonable business
discretion, to maintain and protect its interest in each and every material item of
Intellectual Property Collateral owned by such Grantor in full force and effect.

          (vi) No claim has been asserted and is pending by any Person challenging or questioning
the use of any Intellectual Property Collateral or the validity of effectiveness of any such
Intellectual Property Collateral, nor does the Company know of any valid basis for any such
claim, except, in either case, for such claims that in the aggregate are not reasonably
expected to have a Material Adverse Effect. The use of
such Intellectual Property Collateral by the Company and its Subsidiaries does not
infringe on the rights of any Person, except for such claims and infringements that, in the
aggregate, are not reasonably expected to have a Material Adverse
Effect. The 

12

 

consummation
of the transactions contemplated by the Second Lien Documents will not result in the
termination or impairment of any of the Intellectual Property Collateral.

          (vii) With respect to each IP Agreement: (A) to the knowledge of the Company, such IP
Agreement is valid and binding and in full force and effect; (B) such
IP Agreement will not
cease to be valid and binding and in full force and effect on terms identical to those
currently in effect as a result of the rights and interest granted herein, nor will the
grant of such rights and interest constitute a breach or default under such IP Agreement or
otherwise give any party thereto a right to terminate such IP Agreement; (C) such Grantor
has not received any notice of termination or cancellation under such IP Agreement within
the six months immediately preceding the date of this Security Agreement; (D) within the six
months immediately preceding the date of this Security Agreement, such Grantor has not
received any notice of a breach or default under such IP Agreement, which breach or default
has not been cured; and (E) neither such Grantor nor, to such Grantor’s knowledge, any other
party to such IP Agreement is in breach or default thereof in any material respect, and no
event has occurred that, with notice or lapse of time or both, would constitute such a
breach or default or permit termination or modification under such IP Agreement; in the case
of each of clauses (A) through (E) above, except as would not reasonably be expected to have
a Material Adverse Effect.

          (viii) To the Company’s knowledge, none of the material Trade Secrets of such Grantor
has been used, divulged, disclosed or appropriated to the detriment of such Grantor for the
benefit of any other Person other than such Grantor within the past two years.

          Section 7. Further Assurances.

          (a) Each Grantor agrees that from time to time, in accordance with the terms of this Agreement
and subject to the terms of the Intercreditor Agreement, at the expense of such Grantor and at the
reasonable request of the Collateral Agent, such Grantor will promptly execute and deliver, or
otherwise authenticate, all further instruments and documents, and take all further action that may
be reasonably necessary or desirable, or that the Collateral Agent may reasonably request, in order
to perfect and protect any pledge or security interest granted or purported to be granted by such
Grantor hereunder or to enable the Collateral Agent to exercise and enforce its rights and remedies
hereunder with respect to any Collateral of such Grantor. Without limiting the generality of the
foregoing, each Grantor will, subject to the terms of the Intercreditor Agreement, at the
reasonable request of the Collateral Agent, promptly with respect to the Collateral of such
Grantor: (i) mark conspicuously each document included in Inventory, each chattel paper included
in Receivables each Assigned Agreement and, at the request of the Collateral Agent, each of its
records pertaining to such Collateral with a legend, in form and substance reasonably satisfactory
to the Collateral Agent, indicating that such document, Assigned Agreement or Collateral is subject
to the security interest granted hereby; (ii) if any
such Collateral shall be evidenced by a promissory note or other instrument or chattel paper,
deliver and pledge to the Collateral Agent hereunder such note or instrument or chattel paper duly
indorsed and accompanied by duly executed instruments of transfer or assignment, all in form and
substance reasonably satisfactory to the Collateral Agent; (iii) file such financing or
continuation statements, or amendments thereto, and such other instruments or notices, as may

13

 

be reasonably necessary or desirable, or as the Collateral Agent may reasonably request, in order to
perfect and preserve the security interest granted or purported to be granted by such Grantor
hereunder; (iv) at the request of the Collateral Agent, take all action to ensure that the
Collateral Agent’s security interest is noted on any certificate of title related to any Collateral
evidenced by a certificate of title; and (v) deliver to the Collateral Agent evidence that all
other actions that the Collateral Agent may deem reasonably necessary or desirable in order to
perfect and protect the security interest granted or purported to be granted by such Grantor under
this Agreement has been taken.

          (b) Each Grantor hereby authorizes the Collateral Agent to file one or more financing or
continuation statements, and amendments thereto, including, without limitation, one or more
financing statements indicating that such financing statements cover all assets or all personal
property (or words of similar effect) of such Grantor in the United States other than assets now or
hereafter constituting Principal Properties or the equity of any Principal Property Subsidiaries or
Securitization Subsidiaries, or any real property or fixtures, regardless of whether any particular
asset described in such financing statements falls within the scope of the UCC. A photocopy or
other reproduction of this Agreement shall be sufficient as a financing statement where permitted
by law. Each Grantor ratifies its authorization for the Collateral Agent to have filed such
financing statements, continuation statements or amendments filed prior to the date hereof.

          (c) Each Grantor will furnish to the Collateral Agent from time to time statements and
schedules further identifying and describing the Collateral of such Grantor and such other reports
in connection with such Collateral as the Collateral Agent may reasonably request, all in
reasonable detail.

          Section 8. As to Equipment and Inventory.

          (a) Each Grantor will keep its Equipment having a value in excess of $10,000,000 and Inventory
having a value in excess of $10,000,000 (other than Inventory sold in the ordinary course of
business) at the places therefor specified in Schedule VIII and Schedule IX, respectively, or, upon
30 days’ prior written notice to the Collateral Agent, at such other places designated by such
Grantor in such notice.

          (b) Each Grantor will pay promptly before such amounts become delinquent all property and
other taxes, assessments and governmental charges or levies imposed upon, and all claims
(including, without limitation, claims for labor, materials and supplies) against, its Equipment
and Inventory, except to the extent such taxes, assessments or governmental charges or levies are
being contested in good faith and by proper proceedings and as to which appropriate reserves are
being maintained, unless and until any Lien resulting therefrom attaches to its property and
becomes enforceable against its other creditors. In producing its Inventory, each
Grantor will comply with all requirements of applicable law, except where the failure to so
comply will not have a Material Adverse Effect.

          Section 9. Insurance.

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          (a) Each Grantor will, at its own expense, maintain or cause to be maintained, insurance with
respect to its Equipment and Inventory in such amounts, against such risks, in such form and with
such insurers, as shall be customary for similar businesses of the size and scope of the Company on
a consolidated basis, provided, however, that the Grantor may self insure to the extent consistent
with prudent business practice. Subject to the terms of the Intercreditor Agreement, each policy
of each Grantor for liability insurance shall provide for all
losses to be paid on behalf of the
First Lien Agent (at any time prior to the Discharge of First Lien Obligations), Collateral Agent
and such Grantor as their interests may appear, and each policy for property damage insurance shall
provide for all losses, except for losses of less than $25,000,000 per occurrence, to be paid
directly to the Collateral Agent. So long as no Event of Default shall have occurred and be
continuing, all property damage insurance payments received by the Collateral Agent in connection
with any loss, damage or destruction of Inventory will be released by the Collateral Agent to the
applicable Grantor. Subject to the terms of the Intercreditor Agreement, each such policy shall in
addition (i) name such Grantor, the First Lien Agent (at any time prior to the Discharge of First
Lien Obligations) and the Collateral Agent as insured parties thereunder (without any
representation or warranty by or obligation upon the Collateral Agent) as their interests may
appear, (ii) provide that there shall be no recourse against the Collateral Agent for payment of
premiums or other amounts with respect thereto and (iii) provide that at least 10 days’ prior
written notice of cancellation or of lapse shall be given to the Collateral Agent by the insurer.
Each Grantor will, if so requested by the Collateral Agent, deliver to the Collateral Agent
certificates of insurance evidencing such insurance and, as often as the Collateral Agent may
reasonably request, a report of a reputable insurance broker or the insurer with respect to such
insurance. Further, each Grantor will, at the request of the Collateral Agent, subject to the
terms of the Intercreditor Agreement, duly execute and deliver instruments of assignment of such
insurance policies to comply with the requirements of Section 1(h) and cause the insurers to
acknowledge notice of such assignment.

          (b) Reimbursement under any liability insurance maintained by any Grantor pursuant to this
Section 9 may be paid directly to the Person who shall have incurred damages covered by such
insurance. In case of any loss involving damage to Equipment or Inventory when Section 9(c) below
is not applicable, the applicable Grantor, to the extent determined to be in the business interest
of such Grantor, will make or cause to be made the necessary repairs to or replacements of such
Equipment or Inventory, and any proceeds of insurance properly received by or released to such
Grantor shall be used by such Grantor, except as otherwise required hereunder or by the Indenture,
to pay or as reimbursement for the costs of such repairs or replacements or, if such Grantor
determines not to repair or replace such Equipment or Inventory, treat the loss or damage as an
Event of Loss under the Indenture.

          (c) So long as no Event of Default shall have occurred and be continuing, all insurance
payments received by the Collateral Agent in connection with any loss, damage or destruction of any
Inventory or Equipment will be released by the Collateral Agent to the
applicable Grantor. Upon the occurrence and during the continuance of any Event of Default,
all insurance payments in respect of such Equipment or Inventory shall be paid to the Collateral
Agent subject to the terms of the Intercreditor Agreement and shall, in the Collateral Agent’s sole
discretion, (i) be released to the applicable Grantor for the repair, replacement or restoration
thereof, or (ii) be held as additional Collateral hereunder or applied as specified in
Section 19(b).

15

 

          Section 10. Post-Closing Changes; Collections on Assigned Agreements and Receivables.

          (a) No Grantor will change its name, type of organization, jurisdiction of organization or
organizational identification number from those set forth in Schedule V of this Agreement without
first giving at least 15 Business Days prior written notice to the Collateral
Agent and taking all
action reasonably required by the Collateral Agent for the purpose of perfecting or protecting the
security interest granted by this Agreement. Each Grantor will hold and preserve its records
relating to the Collateral, including, without limitation, the Assigned Agreements and Related
Contracts, and will permit representatives of the Collateral Agent at any time during normal
business hours, on reasonable notice, to inspect and make abstracts from such records and other
documents; provided that, at any time prior to the occurrence of a continuing Event of Default, the
right of the Collateral Agent and any of its representatives to visit the property of the Company
and any of its Subsidiaries shall be subject to reasonable rules and restrictions of the Company
for such access, and such visit shall not unreasonably interfere with the ongoing conduct of the
business of the Company and its Subsidiaries at such properties. If any Grantor does not have an
organizational identification number and later obtains one, it will forthwith notify the Collateral
Agent of such organizational identification number.

          (b) Except as otherwise provided in this Section 10(b), each Grantor will continue to collect,
at its own expense, all amounts due or to become due such Grantor under the Assigned Agreements and
Receivables. In connection with such collections, subject to the terms of the Intercreditor
Agreement, such Grantor may take (and, at the Collateral Agent’s direction, will take) such action
as such Grantor or the Collateral Agent may deem necessary or advisable to enforce collection of
the Assigned Agreements and Receivables; provided, however, that the Collateral Agent shall have
the right at any time, subject to the terms of the Intercreditor Agreement, upon the occurrence and
during the continuance of an Event of Default and upon written notice to such Grantor of its
intention to do so, to notify the Obligors under any Assigned Agreements and Receivables of the
assignment of such Assigned Agreements to the Collateral Agent and to direct such Obligors to make
payment of all amounts due or to become due to such Grantor thereunder directly to the Collateral
Agent and, upon such notification and at the expense of such Grantor, to enforce collection of any
such Assigned Agreements and Receivables, to adjust, settle or compromise the amount or payment
thereof, in the same manner and to the same extent as such Grantor might have done, and to
otherwise exercise all rights with respect to such Assigned Agreements and Receivables, including,
without limitation, those set forth in Section 9-607 of the UCC. After receipt by any Grantor of
the notice from the Collateral Agent referred to in the proviso to the preceding sentence, and
subject to the terms of the Intercreditor Agreement, (i) if any Event of Default shall have
occurred and be continuing all amounts and proceeds (including, without limitation,
instruments) received by such Grantor in respect of the Assigned Agreements and Receivables of such
Grantor shall be received in trust
for the benefit of the Second Lien Secured Parties, shall be segregated from other funds of
such Grantor and shall be forthwith paid over to the Collateral Agent in the same form as so
received (with any necessary indorsement) and applied as provided in Section 19(b) of this
Agreement, and (ii) such Grantor will not adjust, settle or compromise the amount or payment of any
Receivable or amount due on any Assigned Agreement, release wholly or partly any Obligor thereof or
allow any credit or discount thereon other than credits or discounts given in the ordinary course
of business.

16

 

          Section 11. As to Intellectual Property Collateral.

          (a) With respect to each item of its Intellectual Property Collateral material to the business
of the Company and its Subsidiaries, each Grantor agrees to take, at its expense, all commercially
reasonable steps as determined in Grantor’s reasonable discretion, including,
without limitation,
in the U.S. Patent and Trademark Office, the U.S. Copyright Office and any other governmental
authority, to (i) maintain the validity and enforceability of such Intellectual Property Collateral
and maintain such Intellectual Property Collateral in full force and effect, and (ii) pursue the
registration and maintenance (in accordance with the exercise of such Grantor’s reasonable business
discretion) of each patent, trademark, or copyright registration or application, now or hereafter
included in such Intellectual Property Collateral of such Grantor, including, without limitation,
the payment of required fees and taxes, the filing of responses to office actions issued by the
U.S. Patent and Trademark Office, the U.S. Copyright Office or other governmental authorities, the
filing of applications for renewal or extension, the filing of affidavits under Sections 8 and 15
of the U.S. Trademark Act, the filing of divisional, continuation, continuation-in-part, reissue
and renewal applications or extensions, the payment of maintenance fees and the participation in
interference, reexamination, opposition, cancellation, infringement and misappropriation
proceedings; in each case except where the failure to so file, register or maintain is not
reasonably likely to have a Material Adverse Effect. No Grantor shall discontinue use of or
otherwise abandon any such material Intellectual Property Collateral, or abandon any right to file
an application for patent, trademark, or copyright, unless such Grantor shall have determined that
such use or the pursuit or maintenance of such Intellectual Property Collateral is no longer
necessary or desirable in the conduct of such Grantor’s business and that the loss thereof would
not be reasonably likely to have a Material Adverse Effect.

          (b) Until the termination of the Indenture, each Grantor agrees to provide, annually to the
Collateral Agent an updated Schedule of its Patents, Trademarks and registered Copyrights.

          (c) In the event that any Grantor becomes aware that any item of the Intellectual Property
Collateral is being infringed or misappropriated by a third party, such Grantor shall take such
commercially reasonable actions determined in its reasonable discretion, at its expense, to protect
or enforce such Intellectual Property Collateral, including, without limitation, suing for
infringement or misappropriation and for an injunction against such infringement or
misappropriation.

          (d) Each Grantor shall take all reasonable steps which it deems appropriate under the
circumstances to preserve and protect each item of its material Trademarks included in the
Intellectual Property Collateral, including, without limitation, maintaining substantially the
quality of any and all products or services used or provided in connection with any of the
Trademarks, consistent with the general quality of the products and services as of the date hereof,
and taking all steps reasonably necessary to ensure that all licensed users of any of the
Trademarks use such consistent standards of quality.

          (e) With respect to the Intellectual Property Collateral, upon the reasonable request of the
Collateral Agent made upon the occurrence and during the continuance of an

17

 

Event of Default, each
Grantor agrees to execute or otherwise authenticate an agreement, in substantially the form set
forth in Exhibit A hereto or otherwise in form and substance satisfactory to the Collateral Agent
(an “Intellectual Property Security Agreement”), for recording the security interest granted
hereunder to the Collateral Agent in such Intellectual Property Collateral with the U.S. Patent and
Trademark Office, the U.S. Copyright Office, and any other governmental authorities necessary to
perfect the security interest hereunder in such Intellectual Property Collateral; provided,
however, that notwithstanding the foregoing, the applicable Grantors shall, on the date hereof,
execute or otherwise authenticate and deliver an Intellectual Property Security Agreement with
respect to each of the Copyrights listed on Schedule IV(D) hereto under the subheading “Copyrights
to be Recorded Against”.

          (f) Upon the occurrence of and during the continuance of an Event of Default or, with respect
to any Copyright, upon the reasonable request of the Collateral Agent, each entity which executes a
Security Agreement Supplement as Grantor shall execute and deliver to the Collateral Agent with
such written notice, or otherwise authenticate, an agreement substantially in the form of Exhibit B
hereto or otherwise in form and substance satisfactory to the Collateral Agent (an “IP Security
Agreement Supplement”) covering such Intellectual Property, which IP Security Agreement Supplement
shall be recorded with the U.S. Patent and Trademark Office, the U.S. Copyright Office and any
other governmental authorities necessary to perfect the security interest hereunder in such
Intellectual Property.

          Section 12. Voting Rights; Dividends; Etc.

          (a) So long as no Default under Section 6.01(1), (2), (7) or (8) of the Indenture (or any
comparable provision under any other Second Lien Document) shall have occurred and be continuing:

          (i) Each Grantor shall be entitled to exercise any and all voting and other consensual
rights pertaining to the Security Collateral of such Grantor or any part thereof for any
purpose.

          (ii) Each Grantor shall be entitled to receive and retain any and all dividends,
interest and other distributions paid in respect of the Security Collateral of such Grantor
if and to the extent that the payment thereof is not otherwise prohibited by the terms of
the Second Lien Documents; provided, however, that any and all dividends, interest and other
distributions paid or payable in the form of instruments or certificates
in respect of, or in exchange for, any Security Collateral, shall, subject to the terms
of the Intercreditor Agreement, be promptly delivered to the Collateral Agent to hold as
Security Collateral and shall, if received by such Grantor, be received in trust for the
benefit of the Second Lien Secured Parties, be segregated from the other property or funds
of such Grantor and be promptly delivered to the Collateral Agent as Security Collateral in
the same form as so received (with any necessary indorsement).

          (iii) The Collateral Agent will execute and deliver (or cause to be executed and
delivered) to each Grantor all such proxies and other instruments as such Grantor may
reasonably request for the purpose of enabling such Grantor to exercise the voting and other
rights that it is entitled to exercise pursuant to Section 12(a)(i) above and

18

 

to receive the
dividends or interest payments that it is authorized to receive and retain pursuant to
Section 12(a)(ii) above.

          (b) Upon the occurrence and during the continuance of a Default under Section 6.01(1), (2),
(7) or (8) of the Indenture (or any comparable provision under any other Second Lien Document),
subject to the terms of the Intercreditor Agreement:

          (i) All rights of each Grantor (A) to exercise or refrain from exercising the voting
and other consensual rights that it would otherwise be entitled to exercise pursuant to
Section 12(a)(i) shall, upon notice to such Grantor by the Collateral Agent, cease and (B)
to receive the dividends, interest and other distributions that it would otherwise be
authorized to receive and retain pursuant to Section 12(a)(ii) shall automatically cease,
and all such rights shall thereupon become vested in the Collateral Agent for the benefit of
the Second Lien Secured Parties, which shall thereupon have the sole right to exercise or
refrain from exercising such voting and other consensual rights and to receive and hold as
Security Collateral such dividends, interest and other distributions.

          (ii) All dividends, interest and other distributions that are received by any Grantor
contrary to the provisions of Section 12(b)(i) above shall be received in trust for the
benefit of the Second Lien Secured Parties, shall be segregated from other funds of such
Grantor and shall be promptly paid over to the Collateral Agent as Security Collateral in
the same form as so received (with any necessary indorsement).

          Section 13. As to the Assigned Agreements.

          (a) Each Grantor will at its expense:

          (i) perform and observe all terms and provisions of the Assigned Agreements to be
performed or observed by it to the extent consistent with its past practice or reasonable
business judgment, maintain the Assigned Agreements to which it is a party in full force and
effect, and enforce the Assigned Agreements to which it is a party in accordance with the
terms thereof and, subject to the terms of the Intercreditor Agreement, take all such action
to such end as may be requested from time to time by the Collateral Agent; and

          (ii) furnish to the Collateral Agent promptly upon receipt thereof copies of all
notices of defaults in excess of $50,000,000 received by such Grantor under or pursuant to
the Assigned Agreements to which it is a party, and from time to time (A) furnish to the
Collateral Agent such information and reports regarding the Assigned Agreements and such
other Collateral of such Grantor as the Collateral Agent may reasonably request and (B) upon
request of the Collateral Agent, subject to the terms of the Intercreditor Agreement, make
to each other party to any Assigned Agreement to which it is a party such demands and
requests for information and reports or for action as such Grantor is entitled to make
thereunder.

          (b) Each Grantor hereby consents on its behalf and on behalf of its Subsidiaries to the
assignment and pledge to the Collateral Agent for benefit of the Second Lien

19

 

Secured Parties of
each Assigned Agreement to which it is a party by any other Grantor
hereunder.

          (c) Each Grantor agrees, upon the reasonable request of Collateral Agent, to instruct each
other party to each Assigned Agreement to which it is a party, that all payments due or to become
due under or in connection with such Assigned Agreement will be made directly to a Pledged Deposit
Account.

          (d) All moneys received or collected pursuant to Section 13(c) above shall be (i) released to
the applicable Grantor on the terms set forth in Section 5 so long as no Event of Default shall
have occurred and be continuing or (ii) if any Event of Default shall have occurred and be
continuing, applied as provided in Section 19(b).

          Section 14. As to Letter-of-Credit Rights.

          (a) Except as otherwise permitted by the this Agreement, each Grantor, by granting a security
interest in its Receivables consisting of letter-of-credit rights to the Collateral Agent, hereby
assigns, subject to the terms of the Intercreditor Agreement, to the Collateral Agent such rights
(including its contingent rights) to the proceeds of all Related Contracts consisting of letters of
credit of which it is or hereafter becomes a beneficiary or assignee. Upon request of the
Collateral Agent, subject to the terms of the Intercreditor Agreement, each Grantor will promptly
use commercially reasonable efforts to cause the issuer of each letter-of-credit with a stated
amount in excess of $10,000,000 and each nominated person (as defined in Section 5-102 of the UCC)
(if any) with respect thereto to consent to such assignment of the proceeds thereof pursuant to a
consent in form and substance reasonably satisfactory to the Collateral Agent and deliver written
evidence of such consent to the Collateral Agent.

          (b) Upon the occurrence and during the continuance of an Event of Default, each Grantor will,
promptly upon request by the Collateral Agent, subject to the terms of the Intercreditor Agreement,
(i) notify (and such Grantor hereby authorizes the Collateral Agent to notify) the issuer and each
nominated person with respect to each of the Related Contracts consisting of letters of credit that
the proceeds thereof have been assigned to the Collateral Agent hereunder and any payments due or
to become due in respect thereof are to be made directly to
the Collateral Agent or its designee and (ii) arrange for the Collateral Agent to become the
transferee beneficiary of letter of credit.

          Section 15. Transfers and Other Liens; Additional Shares; Additional Security.

          (a) Each Grantor agrees that it will not (i) sell, assign or otherwise dispose of, or grant
any option with respect to, any of the Collateral, other than (A) sales, assignments and other
dispositions of Collateral, and options relating to Collateral, in the ordinary course of business
as currently conducted, (B) sales, assignments and other dispositions of, and options relating to,
Collateral listed on Schedule X hereto, (C) sales, assignments or other dispositions of Collateral
as permitted under the terms of the Indenture, and (D) to any other Grantor, or (ii) create or
suffer to exist any Lien upon or with respect to any of the Collateral of such Grantor except for
the pledge, assignment and security interest created under this Agreement and Liens permitted under
the Indenture.

20

 

          (b) Subject to the terms of the Indenture and this Agreement, each Grantor agrees that it will
(i) cause each issuer of the Pledged Equity pledged by such Grantor not to
issue any Equity
Interests or other securities in addition to or in substitution for the Pledged Equity issued by
such issuer except to such Grantor or its affiliates, and (ii) pledge hereunder, promptly upon its
acquisition (directly or indirectly) thereof, any and all additional Equity Interests or other
securities as required by Section 15(c) below from time to time acquired by such Grantor in any
manner.

          (c) Upon (i) the request of the Collateral Agent following the occurrence and during the
continuance of an Event of Default, (ii) the formation or acquisition of any new Material
Subsidiaries owned directly by the Company (other than a Principal Property Subsidiary or a
Securitization Subsidiary), or any Restricted Subsidiary becoming a Guarantor, or (iii) the
acquisition of any property (other than Excluded Property) by the Company or any Guarantor, or any
property of the Company or any Guarantor ceasing to be Excluded Property, and such property, in the
judgment of the Collateral Agent (as to which judgment the Collateral Agent has given notice to the
Company), shall not already be subject (other than in respect of the Specified Collateral) to a
perfected second priority security interest in favor of the Collateral Agent for the benefit of the
Second Lien Secured Parties, but in each case subject to the terms of the Intercreditor Agreement,
then in each case at the Company’s expense:

          (A) within 45 days after (1) such request or acquisition of property other than any
Excluded Property by the Company or any Guarantor or any property ceasing to be Excluded
Property, duly execute and deliver, and cause each Guarantor to duly execute and deliver, to
the Collateral Agent such additional pledges, assignments, Security Agreement Supplements,
IP Security Agreement Supplements and other security agreements as specified by, and in form
and substance reasonably satisfactory to the Collateral Agent, securing payment of all the
obligations of the Company or such Guarantor under the Second Lien Documents and
constituting Liens on all such properties and (2) such formation or acquisition of any new
Material Subsidiary owned directly by the Company (other than a Principal Property
Subsidiary or a Securitization Subsidiary), or any Restricted Subsidiary becoming a
Guarantor, duly execute and deliver
and cause such Guarantor or any Guarantor acquiring Equity Interests in such Subsidiary
to duly execute and deliver to the Collateral Agent pledges, assignments and Security
Agreement Supplements related to such Equity Interests as specified by, and in form and
substance satisfactory to the Collateral Agent, securing payment of all of the obligations
of the Company or such Guarantor under the Second Lien Documents; provided that (v) the
stock of any Principal Property Subsidiary or any Securitization Subsidiary shall not be
required to be pledged, (w) the stock of any Subsidiary held by a Foreign Subsidiary shall
not be required to be pledged, (x) if such new property is Equity Interests in a Foreign
Subsidiary, no more than 65% of the Equity Interests in such Foreign Subsidiary shall be
pledged in favor of the Second Lien Secured Parties, (y) no property that is Excluded
Property shall be required to be pledged, and (z) no Excluded Subsidiary shall be required
to become a Grantor hereunder or otherwise to provide security,

          (B) within 60 days after such request, formation or acquisition, take, and cause each
Guarantor and each newly acquired or newly formed direct Material Subsidiary (other than a
Foreign Subsidiary, a Principal Property Subsidiary or a

21

 

Securitization Subsidiary) to take,
whatever action (including, without limitation, the filing of Uniform Commercial Code
financing statements, the giving of notices and the endorsement of notices on title
documents) may be necessary or advisable in the reasonable opinion of the Collateral Agent
to vest in the Collateral Agent (or in any representative of the Collateral Agent designated
by it) valid and subsisting Liens on the properties purported to be subject to the pledges,
assignments, Security Agreement Supplements, IP Security Agreement Supplements and security
agreements delivered pursuant to this Section 15(c), enforceable against all third parties
in accordance with their terms (other than in respect of any Excluded Property and the
Specified Collateral) consistent with the forms and types of agreements required to be
delivered by any Grantor party hereto as of the date of this Agreement,

          (C) within 60 days after such request, formation or acquisition, deliver to the
Collateral Agent, upon the request of the Collateral Agent in its sole discretion, a signed
copy of a favorable opinion, addressed to the Collateral Agent and the other Second Lien
Secured Parties, of counsel for the Company or the applicable Guarantor reasonably
acceptable to the Collateral Agent as to (1) such pledges, assignments, Security Agreement
Supplements, IP Security Agreement Supplements and security agreements described in
clauses (A) and (B) above being legal, valid and binding obligations of the Company and each
Guarantor party thereto enforceable in accordance with their terms and as to the matters
contained in clause (B) above, subject to customary exceptions, (2) such recordings,
filings, notices, endorsements and other actions being sufficient to create valid perfected
Liens on such assets, and (3) such other matters as the Collateral Agent may reasonably
request, consistent with the form of opinion delivered as of the date of this Agreement, and

          (D) at any time and from time to time, promptly execute and deliver, and cause each
Guarantor and each newly acquired or newly formed direct Wholly Owned Domestic Restricted
Subsidiary other than an Excluded Subsidiary to execute and deliver, any and all further
instruments and documents and take, and cause such Subsidiary to take, all such other action
as the Collateral Agent may deem reasonably
necessary or desirable in obtaining the full benefits of, or in perfecting and
preserving the Liens of, such pledges, assignments, Security Agreement Supplements, IP
Security Agreement Supplements and security agreements.

          Section 16. Collateral Agent Appointed Attorney in Fact. Each Grantor hereby irrevocably appoints the Collateral Agent such Grantor’s
attorney-in-fact, with full authority in the place and stead of such Grantor and in the name of
such Grantor or otherwise, from time to time, upon the occurrence and during the continuance of an
Event of Default, in the Collateral Agent’s discretion, to take any action and to execute any
instrument that the Collateral Agent may deem necessary or advisable to accomplish the purposes of
this Agreement, subject to the terms of the Intercreditor Agreement, including, without limitation:

          (a) to obtain and adjust insurance required to be paid to the Collateral Agent pursuant to
Section 9,

22

 

          (b) to ask for, demand, collect, sue for, recover, compromise, receive and give acquittance
and receipts for moneys due and to become due under or in respect of any of the Collateral,

          (c) to receive, indorse and collect any drafts or other instruments, documents and chattel
paper, in connection with clause (a) or (b) above, and

          (d) to file any claims or take any action or institute any proceedings that the Collateral
Agent may deem necessary or desirable for the collection of any of the Collateral or otherwise to
enforce compliance with the terms and conditions of any Assigned Agreement or the rights of the
Collateral Agent with respect to any of the Collateral.

          Section 17. Collateral Agent May Perform. If any Grantor fails to perform any agreement contained herein, the Collateral Agent may,
but without any obligation to do so, upon notice to the Company of at least five Business Days in
advance and if the Company fails to cure within such period, itself perform, or cause performance
of, such agreement, and the expenses of the Collateral Agent incurred in connection therewith shall
be payable by such Grantor under Section 20.

          Section 18. The Collateral Agent’s Duties.

          (a) The powers conferred on the Collateral Agent hereunder are solely to protect the Second
Lien Secured Parties’ interest in the Collateral and shall not impose any duty upon it to exercise
any such powers. Except for the safe custody of any Collateral in its possession and the
accounting for moneys actually received by it hereunder, the Collateral Agent shall have no duty as
to any Collateral, as to ascertaining or taking action with respect to calls, conversions,
exchanges, maturities, tenders or other matters relative to any Collateral, whether or not any
Second Lien Secured Party has or is deemed to have knowledge of such matters, or as to the taking
of any necessary steps to preserve rights against any parties or any other rights pertaining to any
Collateral. The Collateral Agent shall not be responsible for filing any financing or continuation
statements or recording any documents or instruments in any public
office at any time or times or otherwise perfecting or maintaining the perfection of any
security interest in the Collateral. The Collateral Agent shall be deemed to have exercised
reasonable care in the custody of the Collateral in its possession if the Collateral is accorded
treatment substantially equal to that which it accords its own property and shall not be liable or
responsible for any loss or diminution in the value of any of the Collateral, by reason of the act
or omission of any carrier, forwarding agency or other agent or bailee selected by the Collateral
Agent in good faith.

          (b) Anything contained herein to the contrary notwithstanding, the Collateral Agent may from
time to time, when the Collateral Agent deems it to be necessary, appoint one or more of its
affiliates (or, with the consent of the Company, any other Persons) subagents (each a “Subagent”)
for the Collateral Agent hereunder with respect to all or any part of the Collateral. In the event
that the Collateral Agent so appoints any Subagent with respect to any Collateral, (i) the
assignment and pledge of such Collateral and the security interest granted in such Collateral by
each Grantor hereunder shall be deemed for purposes of this Security Agreement to have been made to
such Subagent, in addition to the Collateral Agent, for the ratable benefit of the Second

23

 

Lien
Secured Parties, as security for the Secured Obligations of such Grantor, (ii) such Subagent shall
automatically be vested, in addition to the Collateral Agent, with all rights, powers, privileges,
interests and remedies of the Collateral Agent hereunder with respect to such Collateral, and (iii)
the term “Collateral Agent,” when used herein in relation
to any rights,  powers, privileges,
interests and remedies of the Collateral Agent with respect to such Collateral, shall include such
Subagent; provided, however, that no such Subagent shall be authorized to take any action with
respect to any such Collateral unless and except to the extent expressly authorized in writing by
the Collateral Agent.

          (c) The Collateral Agent shall not be responsible for the existence, genuineness or value of
any of the Collateral or for the validity, perfection, priority or enforceability of the Liens in
any of the Collateral, whether impaired by operation of law or by reason of any action or omission
to act on its part hereunder, except to the extent such action or omission constitutes gross
negligence, bad faith or willful misconduct on the part of the Collateral Agent, for the validity
or sufficiency of the Collateral or any agreement or assignment contained therein, for the validity
of the title of the Company to the Collateral, for insuring the Collateral or for the payment of
taxes, charges, assessments or otherwise as to the maintenance of Collateral.

          Section 19. Remedies. If any Event of Default shall have occurred and be continuing and such Event of Default has
resulted in the acceleration of the Secured Obligations, which acceleration has not been rescinded
or otherwise terminated then, subject to the terms of the Intercreditor Agreement:

          (a) The Collateral Agent may exercise in respect of the Collateral, in addition to other
rights and remedies provided for herein or otherwise available to it, all the rights and remedies
of a secured party upon default under the UCC (whether or not the UCC applies to the affected
Collateral) and also may: (i) require each Grantor to, and each Grantor hereby agrees that it will
at its expense and upon request of the Collateral Agent forthwith, assemble all or part of the
Collateral as directed by the Collateral Agent and make it available to the Collateral Agent at a
place and time to be designated by the Collateral Agent that is reasonably convenient to both
parties; (ii) without notice except as specified below, sell the Collateral or any part
thereof in one or more parcels at public or private sale, at any of the Collateral Agent’s offices
or elsewhere, for cash, on credit or for future delivery, and upon such other terms as the
Collateral Agent may deem commercially reasonable; (iii) occupy, consistent with Section 10(a), on
a non-exclusive basis any premises owned or leased by any of the Grantors where the Collateral or
any part thereof is assembled or located for a reasonable period in order to effectuate its rights
and remedies hereunder or under law, without obligation to such Grantor in respect of such
occupation; and (iv) exercise any and all rights and remedies of any of the Grantors under or in
connection with the Collateral, or otherwise in respect of the Collateral, including, without
limitation, (A) any and all rights of such Grantor to demand or otherwise require payment of any
amount under, or performance of any provision of, the Assigned Agreements, the Receivables and the
other Collateral, (B) withdraw, or cause or direct the withdrawal, of all funds with respect to the
Account Collateral, and (C) exercise all other rights and remedies with respect to the Assigned
Agreements, the Receivables and the other Collateral, including, without limitation, those set
forth in Section 9-607 of the UCC. Each Grantor agrees that, to the extent notice of sale shall be
required by law, at least ten days’ notice to such Grantor of the time and place of

24

 

any public
sale, or of the time after which any private sale is to be made shall constitute reasonable
notification. The Collateral Agent shall not be obligated to make any sale of Collateral
regardless of notice of sale having been given. The Collateral Agent may adjourn any public or
private sale from time to time by announcement at the time and place fixed therefor, and such sale
may, without further notice, be made at the time and place to which it was so adjourned.

          (b) Any cash held by or on behalf of the Collateral Agent and all cash proceeds received by or
on behalf of the Collateral Agent in respect of any sale of, collection from, or other realization
upon all or any part of the Collateral may, in the discretion of the Collateral Agent, be held by
the Collateral Agent as collateral for, and/or then or at any time thereafter shall be applied
(after payment of any amounts payable to the Collateral Agent pursuant to Section 20) in whole or
in part by the Collateral Agent for the ratable benefit of the Second Lien Secured Parties against,
all or any part of the Secured Obligations as set forth in the Collateral Trust Agreement.

          (c) All payments received by any Grantor under or in connection with any Assigned Agreement or
otherwise in respect of the Collateral shall be received in trust for the benefit of the Collateral
Agent, shall be segregated from other funds of such Grantor and shall be forthwith paid over to the
Collateral Agent in the same form as so received (with any necessary indorsement).

          (d) The Collateral Agent may, without notice to any Grantor except as required by law and at
any time or from time to time, charge, set off and otherwise apply all or any part of the Secured
Obligations against any funds held with respect to the Account Collateral or in any other deposit
account; provided, however, that no such right shall exist against any deposit designated as being
for the benefit of any governmental authority. The Collateral Agent agrees promptly to notify the
applicable Grantor 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.

          (e) In the event of any sale or other disposition of any of the Intellectual Property
Collateral of any Grantor, the goodwill symbolized by any Trademarks subject to such sale or other
disposition shall be included therein, and such Grantor shall supply to the Collateral Agent or its
designee, to the extent practicable, such Grantor’s know-how and expertise, and documents and
things relating to any Intellectual Property Collateral subject to such sale or other disposition,
and such Grantor’s customer lists and other records and documents relating to such Intellectual
Property Collateral and to the manufacture, distribution, advertising and sale of products and
services of such Grantor.

          (f) In each case under this Agreement in which the Collateral Agent takes any action with
respect to the Collateral, including proceeds, the Collateral Agent shall provide to the Company
such records and information regarding the possession, control, sale and any receipt of amounts
with respect to such Collateral as may be reasonably requested by the Company as a basis for the
preparation of the company’s financial statements in accordance with GAAP.

          Section 20. Collateral Trust Agreement; Requests by Collateral Agent.

25

 

          (a) The provisions of the Collateral Trust Agreement and the Indenture relating to the
Collateral Agent including, without limitation, the provisions relating to resignation or removal
of the Collateral Agent, reimbursement of expenses, exculpatory rights, rights to indemnification
and the powers and duties and immunities of the Collateral Agent are
incorporated herein by this
reference and shall survive any termination of the Collateral Trust Agreement or the Indenture, as
applicable.

          (b) Notwithstanding anything to the contrary stated herein, to the extent the provisions
hereunder provide for the Collateral Agent to make any request to any Grantor to take or refrain
from taking any action, the Collateral Agent shall have no duty to make any such request, unless
instructed to do so by the Majority Holders.

          Section 21. Amendments; Waivers; Additional Grantors; Etc.

          (a) No amendment or waiver of any provision of this Agreement, and no consent to any departure
by any Grantor herefrom, shall in any event be effective unless the same shall be in writing and
signed by the Collateral Agent and, with respect to any amendment, the Company on behalf of the
Grantors, and then such waiver or consent shall be effective only in the specific instance and for
the specific purpose for which given. No failure on the part of the Collateral Agent or any other
Second Lien Secured 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 such right preclude
any other or further exercise thereof or the exercise of any other right.

          (b) Upon the execution and delivery by any Person of a security agreement supplement in
substantially the form of Exhibit C hereto (each a “Security Agreement Supplement”), such Person
shall be referred to as an “Additional Grantor” and shall be and become a Grantor hereunder, and
each reference in this Agreement and the other Second Lien Documents to “Grantor” shall also mean
and be a reference to such Additional Grantor, each
reference in this Agreement and the other Second Lien Documents to the “Collateral” shall also
mean and be a reference to the Collateral granted by such Additional Grantor and each reference in
this Agreement to a Schedule shall also mean and be a reference to the schedules attached to such
Security Agreement Supplement.

          Section 22. Confidentiality; Notices; References.

          (a) The Collateral Agent may not disclose to any Person any confidential, proprietary or
non-public information of any Grantor furnished to the Collateral Agent by any Grantor, including,
without limitation, any information included in the schedules or exhibits to this Agreement (such
information being referred to collectively herein as the “Company Information”), except that the
Collateral Agent may disclose Company Information (i) to its and its affiliates’ managers,
administrators, partners, employees, trustees, officers, directors, agents, advisors and other
representatives solely for purposes of this Agreement, any other Second Lien Documents and the
transactions contemplated hereby and thereby (it being understood that the Persons to whom such
disclosure is made will be informed of the confidential nature of such Company Information and
instructed to keep such Company Information confidential on terms substantially no less restrictive
than those provided herein), (ii) to the extent requested by any regulatory authority purporting to
have jurisdiction over it, provided that, to the extent permitted

26

 

by law and practicable under the
circumstances, the Collateral Agent shall provide the Company with prompt notice of such requested
disclosure so that the Company may seek a protective order prior to the time when the Collateral
Agent is required to make such disclosure, (iii) to the extent required by applicable laws or
regulations or by any subpoena or similar legal process,
provided  that, to the extent permitted by
law and practicable under the circumstances, the Collateral Agent shall provide the Company with
prompt notice of such requested disclosure so that the Company may seek a protective order prior to
the time when the Collateral Agent is required to make such disclosure, (iv) as necessary in
connection with any security interest filings or in connection with the exercise of any remedies
hereunder or any suit, action or proceeding relating to this Agreement or the enforcement of rights
hereunder, (v) to the extent such Company Information (A) is or becomes generally available to the
public on a non-confidential basis other than as a result of a breach of this Section 23 by the
Collateral Agent or by any Second Lien Secured Party, or (B) is or becomes legally available to the
Collateral Agent on a nonconfidential basis from a source other than a Grantor, provided that the
source of such information was not known by the Collateral Agent to be bound by a confidentiality
agreement with or other contractual, legal or fiduciary obligations of confidentiality to a Grantor
or any other party with respect to such information, (vi) with the consent of the Company, and
(vii) to any party hereto.

          (b) All notices and other communications provided for hereunder shall be delivered as provided
in Section 8.3 of the Collateral Trust Agreement.

          (c) The definitions of certain terms used in this Agreement are set forth in the following
locations:

	 	 	 
	Account Collateral

	 	Section 1(f)
	Additional Grantor

	 	Section 21(b)
	Agreement

	 	Preamble
	Agreement Collateral

	 	Section 1(e)
	Amendment No. 1

	 	Preliminary Statements
	Assigned Agreements

	 	Section 1(e)
	Collateral

	 	Section 1
	Collateral Agent

	 	Preamble
	Collateral Trust Agreement

	 	Preliminary Statements
	Company

	 	Preamble
	Company Information

	 	Section 22(a)
	Copyrights

	 	Section 1(g)(iii)
	Deposit Account Control Agreement

	 	Section 5(a)
	Equipment

	 	Section 1(a)
	Excluded Property

	 	Section 1
	First Lien Agent

	 	Preliminary Statements
	First Lien Credit Agreement

	 	Preliminary Statements
	Grantor, Grantors

	 	Preamble
	Indenture

	 	Preliminary Statements
	Initial Pledged Equity

	 	Preliminary Statements
	Initial Pledged Debt

	 	Preliminary Statements
	Intellectual Property Collateral

	 	Section 1(g)

27

 

	 	 	 
	Intellectual Property Security Agreement

	 	Section 11(e)
	Intercreditor Agreement

	 	Preliminary Statements
	Inventory

	 	Section 1(b)
	IP Agreements

	 	Section 1(g)(v)
	IP Security Agreement Supplement

	 	Section 11(f)
	L/C Cash Deposit Account

	 	Preliminary Statements
	Material Adverse Effect

	 	Section 6(o)
	Material Subsidiary

	 	Section 1(d)(iii)
	Obligor

	 	Section 5(a)
	Patents

	 	Section 1(g)(i)
	Permitted Priority Liens

	 	Section 6(m)
	Pledged Debt

	 	Section 1(d)(iv)
	Pledged Deposit Accounts

	 	Preliminary Statements
	Pledged Equity

	 	Section 1(d)(iii)
	Receivables

	 	Section 1(c)
	Related Contracts

	 	Section 1(c)
	Secured Obligations

	 	Section 2(a)
	Security Agreement Supplement

	 	Section 21(b)
	Security Collateral

	 	Section 1(d)
	Specified Collateral

	 	Section 6(m)
	Subagent

	 	Section 18(b)
	Trademarks

	 	Section 1(g)(ii)
	Trade Secrets

	 	Section 1(g)(iii)
	Trustee

	 	Preliminary Statements
	UCC

	 	Preliminary Statements

          Section 23. Continuing Security Interest; Transfers Under the Second Lien Documents. This Agreement shall create a continuing security interest in the Collateral and shall
(a) except as otherwise provided in Section 24 below, remain in full force and effect until the
payment in full in cash of the Secured Obligations, (b) be binding upon each Grantor, its
successors and assigns and (c) inure, together with the rights and remedies of the Collateral Agent
hereunder, to the benefit of the Second Lien Secured Parties and their respective successors,
permitted transferees and permitted assigns. Without limiting the generality of the foregoing
clause (c), to the extent permitted in Section 3.05 of the Indenture (or any comparable provisions
in any other Second Lien Document), any applicable Second Lien Secured Party may transfer any of
its Notes or any Indebtedness in respect of any Second Lien Documents held by it to any permitted
transferee, and such permitted transferee shall thereupon become vested with all the benefits in
respect thereof granted to such Holder herein or otherwise.

          Section 24. Release. The Collateral Agent’s Liens upon the Collateral will be released as provided in Section 7.1
of the Collateral Trust Agreement.

          Section 25. Execution in Counterparts. This Agreement may be executed in any number of 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 

28

 

executed counterpart of a signature page to this Agreement by
telecopier shall be effective as delivery of an original executed counterpart of this Agreement.

          Section 26. Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the
State of New York.

          Section 27. Intercreditor Agreement. Notwithstanding anything herein to the contrary, the Liens and security interest granted to
the Collateral Agent, for the benefit of the Second Lien Secured Parties, pursuant to this
Agreement and the exercise of any right or remedy by the Collateral Agent, for the benefit of the
Second Lien Secured Parties, hereunder are subject to the provisions of the Intercreditor
Agreement, among Citicorp USA, Inc. as First Lien Representative, The Bank of New York Mellon, as
Second Lien Representative, the Company, the direct and indirect Subsidiaries of the Company party
thereto and such other parties as may be added thereto from time to time in accordance with the
terms thereof and as the Intercreditor Agreement may be amended, restated, supplemented or
otherwise modified from time to time in accordance with the terms thereof. In the event of any
conflict between the terms of the Intercreditor Agreement and this Agreement, the terms of the
Intercreditor Agreement shall govern.

[Remainder of page intentionally left blank]

29

 

          IN WITNESS WHEREOF, each Grantor and the Collateral Agent have caused this Agreement to be
duly executed and delivered by their respective officers thereunto duly authorized as of the date
first above written.

	 	 	 	 	 
	 	EASTMAN KODAK COMPANY

 	 
	 	By:  	/s/
William G. Love	 
	 	Name:  	William G. Love	 
	 	Title:  	Treasurer	 
	 
	 	CREO MANUFACTURING AMERICA LLC

KODAK AVIATION LEASING LLC

 	 
	 	By:  	/s/
William G. Love	 
	 	Name:  	William G. Love	 
	 	Title:  	Manager	 
	 
	 	EASTMAN GELATINE CORPORATION

EASTMAN KODAK INTERNATIONAL 

CAPITAL COMPANY, INC.

FAR EAST DEVELOPMENT LTD.

FPC INC.

KODAK (NEAR EAST), INC.

KODAK AMERICAS, LTD.

KODAK IMAGING NETWORK, INC.

KODAK PORTUGUESA LIMITED

KODAK REALTY, INC.

LASER EDIT, INC.

LASER-PACIFIC MEDIA CORPORATION

PACIFIC VIDEO, INC.

PAKON, INC.

QUALEX INC.

 	 
	 	By:  	/s/
William G. Love	 
	 	Name:  	William G. Love	 
	 	Title:  	Treasurer	 
	 

Security Agreement

 

 

	 	 	 	 	 
	 	KODAK PHILIPPINES, LTD.

NPEC INC.

 	 
	 	By:  	/s/
William G. Love	 
	 	Name:  	William G. Love	 
	 	Title:  	Assistant Treasurer	 
	 

Security Agreement

 

 

	 	 	 	 	 
	 	THE BANK OF NEW YORK MELLON,

as Collateral Agent

 	 
	 	By:  	/s/
Franca M. Ferrera	 
	 	Name:  	Franca M. Ferrera	 
	 	Title:  	Senior Associate	 
	 

Security Agreement

 

 

Exhibit A to the

Security Agreement

FORM OF INTELLECTUAL PROPERTY SECURITY AGREEMENT

     This INTELLECTUAL PROPERTY SECURITY AGREEMENT, dated as of [                    ], 2009 (as amended,
amended and restated, supplemented or otherwise modified from time to time, this “IP Security
Agreement”), is made [                                        ] (collectively, the “Grantors” and each, individually, a
“Grantor”), in favor of The Bank of New York Mellon, as collateral agent (in such capacity,
together with its successors and assigns, the “Collateral Agent”) for the Second Lien Secured
Parties.

     WHEREAS, Eastman Kodak Company, a New Jersey corporation (the “Company”), and certain direct
or indirect subsidiaries [(including the Grantors)] of the Company party thereto (such
subsidiaries, the “Guarantors”) have entered into an Indenture, dated as of September [___], 2009
(as amended, amended and restated, supplemented or otherwise modified from time to time, the
“Indenture”), with The Bank of New York Mellon, as trustee (in such capacity, together with its
successors and assigns, the “Trustee”).

     WHEREAS, in connection with the Indenture, each Grantor and the other Guarantors have executed
and delivered that certain Security Agreement, dated as of September [___], 2009 (as amended,
amended and restated, supplemented or otherwise modified from time to time, the “Security
Agreement”), made in favor of the Collateral Agent.

     WHEREAS, the Company, the Grantors, the other Guarantors and the Collateral Agent are parties
to that certain Collateral Trust Agreement, dated as of September [___], 2009 (as amended, amended
and restated, supplemented or otherwise modified from time to time, the “Collateral Trust
Agreement”). Terms defined in the Collateral Trust Agreement and not otherwise defined herein are
used herein as defined in the Collateral Trust Agreement.

     WHEREAS, under the terms of the Security Agreement, each Grantor has granted to the Collateral
Agent, for the ratable benefit of the Second Lien Secured Parties, a security interest in, among
other property, certain intellectual property of such Grantor, and has agreed as a condition
thereof to execute this IP Security Agreement for recording with the United States Copyright Office
and other governmental authorities.

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

     SECTION 1. Grant of Security. Each Grantor hereby grants to the Collateral Agent,
for the ratable benefit of the Second Lien Secured Parties, a security interest in all of such
Grantor’s right, title and interest in and to the following (the “Collateral”):

     (a) the patents and patent applications set forth in Schedule A hereto (the “Patents”);

 

 

     (b) the trademark and service mark registrations and applications set forth in Schedule
B hereto (provided that no security interest shall be granted in United States intent-to-use
trademark applications to the extent that, and solely during the period in which, the grant
of a security interest therein would impair the validity or enforceability of such
intent-to-use trademark applications under applicable federal law), together with the
goodwill symbolized thereby (the “Trademarks”);

     (c) all copyrights, whether registered or unregistered, now owned or hereafter acquired
by such Grantor, including, without limitation, the copyright registrations and applications
and exclusive copyright licenses set forth in Schedule C hereto (the “Copyrights”);

     (d) all reissues, divisions, continuations, continuations-in-part, extensions, renewals
and reexaminations of any of the foregoing, all rights in the foregoing provided by
international treaties or conventions, all rights corresponding thereto throughout the world
and all other rights of any kind whatsoever of such Grantor accruing thereunder or
pertaining thereto;

     (e) any and all claims for damages and injunctive relief for past, present and future
infringement, dilution, misappropriation, violation, misuse or breach with respect to any of
the foregoing, with the right, but not the obligation, to sue for and collect, or otherwise
recover, such damages; and

     (f) any and all proceeds of, collateral for, income, royalties and other payments now
or hereafter due and payable with respect to, and supporting obligations relating to, any
and all of the Collateral of or arising from any of the foregoing.

     SECTION 2. Security for Obligations. The grant of a security interest in, the
Collateral by each Grantor under this IP Security Agreement secures the payment of all obligations
of such Grantor now or hereafter existing under or in respect of the Second Lien Documents, whether
direct or indirect, absolute or contingent, and whether for principal, reimbursement obligations,
interest, premiums, penalties, fees, indemnifications, contract causes of action, costs, expenses
or otherwise. Without limiting the generality of the foregoing, this IP Security Agreement
secures, as to each Grantor, the payment of all amounts that constitute part of the Second Lien
Obligations and that would be owed by such Grantor to any Second Lien Secured Party under the
Second Lien Documents but for the fact that such Second Lien Obligations are unenforceable or not
allowable due to the existence of a bankruptcy, reorganization or similar proceeding involving the
Company, any Grantor or any other Guarantor.

     SECTION 3. Recordation. Each Grantor authorizes and requests that the United States
Copyright Office and any other applicable government officer record this IP Security Agreement.

     SECTION 4. Execution in Counterparts. This IP Security Agreement may be executed in
any number of 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.

2

 

     SECTION 5. Grants, Rights and Remedies. This IP Security Agreement has been entered
into in conjunction with the provisions of the Security Agreement. Each Grantor does hereby
acknowledge and confirm that the grant of the security interest hereunder to, and the rights and
remedies of, the Collateral Agent with respect to the Collateral are more fully set forth in the
Security Agreement, the terms and provisions of which are incorporated herein by reference as if
fully set forth herein.

     SECTION 6. Governing Law. This IP Security Agreement shall be governed by, and
construed in accordance with, the laws of the State of New York.

     SECTION 7. Intercreditor Agreement. Notwithstanding anything herein to the contrary,
the Liens and security interest granted to the Collateral Agent, for the benefit of the Second Lien
Secured Parties, pursuant to this Agreement and the exercise of any right or remedy by the
Collateral Agent, for the benefit of the Second Lien Secured Parties, hereunder are subject to the
provisions of the Intercreditor Agreement, among Citicorp USA, Inc. as First Lien Representative
(as defined therein), The Bank of New York Mellon, as Second Lien Representative (as defined
therein), the Company, the direct and indirect Subsidiaries of the Company party thereto and such
other parties as may be added thereto from time to time in accordance with the terms thereof and as
the Intercreditor Agreement may be amended, restated, supplemented or otherwise modified from time
to time in accordance with the terms thereof. In the event of any conflict between the terms of
the Intercreditor Agreement and this Agreement, the terms of the Intercreditor Agreement shall
govern.

[Signature Pages Follow]

3

 

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

	 	 	 	 	 	 	 
	 	 	EASTMAN KODAK COMPANY	 	 
	 
	 
	 	By	 	 	 	 
	 

	 	
	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	Address for Notices:	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	[NAME OF GRANTOR]	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	Address for Notices:	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	[NAME OF GRANTOR]	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	Address for Notices:	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 

4

 

	 	 	 	 	 
	Accepted and Agreed:	 	 
	 
	 	 	 	 
	THE BANK OF NEW YORK MELLON,

as Collateral Agent	 	 
	 
	 	 	 	 
	By:
 
	 	 
	Name:

	 	 

	 	 
	Title:
	 	 	 	 
	 
	 	 	 	 
	Address for Notices:	 	 
	 
	 
	 	 	 	 
	 	 	 
	 
	 	 	 	 
	 	 	 
	 
	 	 	 	 
	 	 	 

5

 

Exhibit B to the

Security Agreement

FORM OF INTELLECTUAL PROPERTY SECURITY AGREEMENT SUPPLEMENT

     This
INTELLECTUAL PROPERTY SECURITY AGREEMENT SUPPLEMENT, dated as of                     , 20___ (as
amended, amended and restated, supplemented or otherwise modified from time to time, this “IP
Security Agreement Supplement”), is made by [                                        ] (the “Grantor”), in favor of The
Bank of New York Mellon, as collateral agent (in such capacity, together with its successors and
assigns, the “Collateral Agent”) for the Second Lien Secured Parties.

     WHEREAS, Eastman Kodak Company, a New Jersey corporation (the “Company”), and certain direct
or indirect subsidiaries [(including the Grantor)] of the Company party thereto (such subsidiaries,
the “Guarantors”) have entered into an Indenture, dated as of September [___], 2009 (as amended,
amended and restated, supplemented or otherwise modified from time to time, the “Indenture”), with
The Bank of New York Mellon, as trustee (in such capacity, together with its successors and
assigns, the “Trustee”).

     WHEREAS, in connection with the Indenture, (a) the Grantor and the other Guarantors have
executed and delivered that certain Security Agreement, dated as of September [___], 2009 (as
amended, amended and restated, supplemented or otherwise modified from time to time, the “Security
Agreement”), made in favor of the Collateral Agent, and (b) the Grantor has executed and delivered
that certain Intellectual Property Security Agreement, dated as of [                    ], 20[___] (as
amended, amended and restated, supplemented or otherwise modified from time to time, the “IP
Security Agreement”), made in favor of the Collateral Agent.

     WHEREAS, the Company, the Grantor, the other Guarantors and the Collateral Agent are parties
to that certain Collateral Trust Agreement, dated as of September [___], 2009 (as amended, amended
and restated, supplemented or otherwise modified from time to time, the “Collateral Trust
Agreement”). Terms defined in the Collateral Trust Agreement and not otherwise defined herein are
used herein as defined in the Collateral Trust Agreement.

     WHEREAS, under the terms of the Security Agreement, the Grantor has granted to the Collateral
Agent, for the ratable benefit of the Second Lien Secured Parties, a security interest in, among
other property, the Collateral (as defined in Section 1 below) of the Grantor and has agreed as a
condition thereof to execute this IP Security Agreement Supplement for recording with the United
States Copyright Office and other governmental authorities.

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

     SECTION 1. Grant of Security. The Grantor hereby grants to the Collateral Agent, for
the ratable benefit of the Second Lien Secured Parties, a security interest in all of the Grantor’s
right, title and interest in and to the following (the “Collateral”):

 

 

     (a) the patents and patent applications set forth in Schedule A hereto (the “Patents”);

     (b) the trademark and service mark registrations and applications set forth in Schedule
B hereto (provided that no security interest shall be granted in United States intent-to-use
trademark applications to the extent that, and solely during the period in which, the grant
of a security interest therein would impair the validity or enforceability of such
intent-to-use trademark applications under applicable federal law), together with the
goodwill symbolized thereby (the “Trademarks”);

     (c) the copyright registrations and applications and exclusive copyright licenses set
forth in Schedule C hereto (the “Copyrights”);

     (d) all reissues, divisions, continuations, continuations-in-part, extensions, renewals
and reexaminations of any of the foregoing, all rights in the foregoing provided by
international treaties or conventions, all rights corresponding thereto throughout the world
and all other rights of any kind whatsoever of such Grantor accruing thereunder or
pertaining thereto;

     (e) all any and all claims for damages and injunctive relief for past, present and
future infringement, dilution, misappropriation, violation, misuse or breach with respect to
any of the foregoing, with the right, but not the obligation, to sue for and collect, or
otherwise recover, such damages; and

     (f) any and all proceeds of, collateral for, income, royalties and other payments now
or hereafter due and payable with respect to, and supporting obligations relating to, any
and all of the foregoing or arising from any of the foregoing.

     SECTION 2. Security for Obligations. The grant of a security interest in the
Collateral by the Grantor under this IP Security Agreement Supplement secures the payment of all
obligations of the Grantor now or hereafter existing under or in respect of the Second Lien
Documents, whether direct or indirect, absolute or contingent, and whether for principal,
reimbursement obligations, interest, premiums, penalties, fees, indemnifications, contract causes
of action, costs, expenses or otherwise.

     SECTION 3. Recordation. The Grantor authorizes and requests that the United States
Copyright Office and any other applicable government officer to record this IP Security Agreement
Supplement.

     SECTION 4. Grants, Rights and Remedies. This IP Security Agreement Supplement has
been entered into in conjunction with the provisions of the Security Agreement. The Grantor does
hereby acknowledge and confirm that the grant of the security interest hereunder to, and the rights
and remedies of, the Collateral Agent with respect to the Collateral are more fully set forth in
the Security Agreement, the terms and provisions of which are incorporated herein by reference as
if fully set forth herein.

2

 

     SECTION 5. Execution in Counterparts. This IP Security Agreement may be executed in
any number of 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.

     SECTION 6. Governing Law. This IP Security Agreement Supplement shall be governed
by, and construed in accordance with, the laws of the State of New York.

     SECTION 7. Intercreditor Agreement. Notwithstanding anything herein to the contrary,
the Liens and security interest granted to the Collateral Agent, for the benefit of the Second Lien
Secured Parties, pursuant to this Agreement and the exercise of any right or remedy by the
Collateral Agent, for the benefit of the Second Lien Secured Parties, hereunder are subject to the
provisions of the Intercreditor Agreement, among Citicorp USA, Inc. as First Lien Representative
(as defined therein), The Bank of New York Mellon, as Second Lien Representative (as defined
therein), the Company, the direct and indirect Subsidiaries of the Company party thereto and such
other parties as may be added thereto from time to time in accordance with the terms thereof and as
the Intercreditor Agreement may be amended, restated, supplemented or otherwise modified from time
to time in accordance with the terms thereof. In the event of any conflict between the terms of
the Intercreditor Agreement and this Agreement, the terms of the Intercreditor Agreement shall
govern.

[Signature Pages Follow]

3

 

     IN WITNESS WHEREOF, the Grantor has caused this IP Security Agreement Supplement to be duly
executed and delivered by its officer thereunto duly authorized as of the date first above written.

	 	 	 	 	 	 	 
	 

	 	By
 
	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	Title:	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	Address for Notices:	 	 
	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 

	 	 	 	 	 
	Accepted and Agreed:	 	 
	 
	 	 	 	 
	THE BANK OF NEW YORK MELLON,

as Collateral Agent	 	 
	 
	 	 	 	 
	By:
 
	 	 
	Name:

	 	 

	 	 
	Title:
	 	 	 	 
	 
	 	 	 	 
	Address for Notices:	 	 
	 
	 
	 	 	 	 
	 	 	 
	 
	 	 	 	 
	 	 	 
	 
	 	 	 	 
	 	 	 

4

 

Exhibit C to the

Security Agreement

FORM OF SECURITY AGREEMENT SUPPLEMENT

     Reference is made to that certain (a) Collateral Trust Agreement, dated as of September [___],
2009 (as amended, amended and restated, supplemented or otherwise modified from time to time, the
“Collateral Trust Agreement”), among Eastman Kodak Company, a New Jersey corporation (the
“Company”), the other Trustors party thereto from time to time, The Bank of New York Mellon, as
Trustee and as collateral agent (in such capacity, together with its successors and assigns, the
“Collateral Agent”) for the Second Lien Secured Parties, and each New Second Lien Representative
party thereto from time to time, and (b) Security Agreement dated as of September [___], 2009 (as
amended, amended and restated, supplemented or otherwise modified from time to time, the “Security
Agreement”), made by the Company and the other Grantors (as defined therein) from time to time
party thereto, in favor of the Collateral Agent. Terms defined in the Collateral Trust Agreement
or the Security Agreement and not otherwise defined herein are used herein as defined in the
Collateral Trust Agreement or the Security Agreement, as applicable.

     This
Security Agreement Supplement, dated as of                     , 20___ (this “Security Agreement
Supplement”), is being delivered in connection with the Security Agreement.

     SECTION 1. Grant of Security. The undersigned hereby grants to the Collateral Agent,
for the ratable benefit of the Second Lien Secured Parties, a security interest in all of its
right, title and interest in and to its Collateral consisting of the following, in each case,
subject to restrictions on assignment or transfer, whether now owned or hereafter acquired by the
undersigned, wherever located and whether now or hereafter existing or arising (collectively, the
undersigned’s “Collateral”): all Equipment, Inventory, Security Collateral (including, without
limitation, the indebtedness set forth on Schedule A hereto and the securities and
securities/deposit accounts set forth on Schedule B hereto), Receivables, Related Contracts,
Agreement Collateral, Account Collateral (including the deposit accounts set forth on Schedule C
hereto), Intellectual Property Collateral, all books and records (including, without limitation,
customer lists, credit files, printouts and other computer output materials and records) of the
undersigned pertaining to any of the undersigned’s Collateral, and all proceeds of, collateral for,
income, royalties and other payments now or hereafter due and payable with respect to, and
supporting obligations relating to, any and all of the undersigned’s Collateral (including, without
limitation, proceeds, collateral and supporting obligations that constitute property of the types
described in this Section 1) and, to the extent not otherwise included, all (a) payments under
insurance (whether or not the Collateral Agent is the loss payee thereof), or any indemnity,
warranty or guaranty, payable by reason of loss or damage to or otherwise with respect to any of
the foregoing Collateral, and (b) cash; provided that, in no event shall the Collateral include any
Excluded Property.

     SECTION 2. Security for Obligations. The grant of a security interest in, the
Collateral by the undersigned under this Security Agreement Supplement and the Security Agreement
secures the payment of all Secured Obligations of the undersigned now or hereafter existing under
or in respect of the Second Lien Documents, whether direct or indirect, absolute or

 

 

contingent, and whether for principal, reimbursement obligations, interest, premiums, penalties,
fees, indemnifications, contract causes of action, costs, expenses or otherwise. Without limiting
the generality of the foregoing, this Security Agreement Supplement and the Security Agreement
secures the payment of all amounts that constitute part of the Secured Obligations and that would
be owed by the undersigned to any Second Lien Secured Parties under the Second Lien Documents but
for the fact that such Secured Obligations are unenforceable or not allowable due to the existence
of a bankruptcy, reorganization or similar proceeding involving the Company or any Guarantor.

     SECTION 3. Representations and Warranties. The undersigned represents and warrants
as follows:

     (a) The undersigned’s exact legal name, chief executive office, type of organization,
jurisdiction of organization and organizational identification number is set forth in Schedule D
hereto. Within the twelve months preceding the date hereof, the undersigned has not changed its
name, chief executive office, type of organization, jurisdiction of organization or organizational
identification number from those set forth in Schedule E hereto except as set forth in Schedule F
hereto.

     (b) All Equipment having a value in excess of $10,000,000 and all Inventory having a value in
excess of $10,000,000 as of the date hereof of the undersigned is located at the places specified
therefor in Schedule H hereto.

     (c) The undersigned is not a beneficiary or assignee under any letter of credit with a stated
amount in excess of $10,000,000 and issued by a United States financial institution as of the date
hereof, other than the letters of credit described in Schedule I hereto.

     (d) The undersigned hereby makes each other representation and warranty set forth in Section 6
of the Security Agreement with respect to itself and the Collateral granted by it.

     SECTION 4. Obligations Under the Security Agreement. The undersigned hereby agrees,
as of the date first above written, to be bound as a Grantor by all of the terms and provisions of
the Security Agreement to the same extent as each of the other Grantors. The undersigned further
agrees, as of the date first above written, that each reference in the Security Agreement to an
“Additional Grantor” or a “Grantor” shall also mean and be a reference to the undersigned, that
each reference to the “Collateral” or any part thereof shall also mean and be a reference to the
undersigned’s Collateral or part thereof, as the case may be, and that each reference in the
Security Agreement to a Schedule shall also mean and be a reference to the schedules attached
hereto.

     SECTION 5. Governing Law. This Security Agreement Supplement shall be governed by,
and construed in accordance with, the laws of the State of New York.1

 

			
	1	 	If the Additional Grantor is not concurrently
executing a guaranty or other Second Lien Document containing provisions
relating to submission to jurisdiction and jury trial waiver, include them
here.

 

 

     SECTION 6. Intercreditor Agreement. Notwithstanding anything herein to the contrary,
the Liens and security interest granted to the Collateral Agent, for the benefit of the Second Lien
Secured Parties, pursuant to this Agreement and the exercise of any right or remedy by the
Collateral Agent, for the benefit of the Second Lien Secured Parties, hereunder are subject to the
provisions of the Intercreditor Agreement, among Citicorp USA, Inc. as First Lien Representative,
The Bank of New York Mellon, as Second Lien Representative, the Company, the direct and indirect
Subsidiaries of the Company party thereto and such other parties as may be added thereto from time
to time in accordance with the terms thereof and as the Intercreditor Agreement may be amended,
restated, supplemented or otherwise modified from time to time in accordance with the terms
thereof. In the event of any conflict between the terms of the Intercreditor Agreement and this
Agreement, the terms of the Intercreditor Agreement shall govern.

	 	 	 	 	 	 	 
	 	 	[NAME OF ADDITIONAL GRANTOR]	 	 
	 
	 	 	 	 	 	 
	 

	 	By: 
	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	Title:	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	Address for Notices:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00163-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00163-of-00352.parquet"}]]