Document:

EX-10.1

PURCHASE AGREEMENT

Dated as of April 1 2008

Among

FERRO COLOR & GLASS CORPORATION

and

FERRO PFANSTIEHL LABORATORIES, INC.

as Sellers

and

FERRO CORPORATION

1

as Purchaser

TABLE OF CONTENTS

Page

	 	 	 
	PRELIMINARY STATEMENTS

	ARTICLE I

	 	DEFINITIONS

SECTION 1.01.Certain Defined Terms
	
 
	 	 
	
 
	 	SECTION 1.02.Other Terms
	
 
	 	 
	ARTICLE II

	 	AMOUNTS AND TERMS OF PURCHASES

SECTION 2.01.Facility
	
 
	 	 
	
 
	 	SECTION 2.02.Making Purchases
	
 
	 	 
	
 
	 	SECTION 2.03.Collections.
	
 
	 	 
	
 
	 	SECTION 2.04.Settlement Procedures
	
 
	 	 
	
 
	 	SECTION 2.05.Payments and Computations, Etc.
	
 
	 	 
	ARTICLE III

	 	CONDITIONS OF PURCHASES

	 	 	 	SECTION 3.01. Conditions Precedent to Initial Purchase from the
Sellers	 

	 	 	 	 	 
	
 
	 	SECTION 3.02.
	 	Conditions Precedent to All Purchases
	
 
	 	 	 	 
	ARTICLE IV	 	REPRESENTATIONS AND WARRANTIES
	
 
	 	SECTION 4.01.
	 	Representations and Warranties of the Sellers
	
 
	 	 	 	 
	ARTICLE V

	 	COVENANTS

SECTION 5.01.
	 	

Covenants of the Sellers
	
 
	 	 	 	 
	
 
	 	SECTION 5.02.
	 	Grant of Security Interest
	
 
	 	 	 	 
	
 
	 	SECTION 5.03.
	 	Covenant of each Seller and the Purchaser
	
 
	 	 	 	 
	ARTICLE VI	 	ADMINISTRATION AND COLLECTION
	
 
	 	SECTION 6.01.
	 	Designation of Collection Agent
	
 
	 	 	 	 
	
 
	 	SECTION 6.02.
	 	Duties of Collection Agent
	
 
	 	 	 	 
	
 
	 	SECTION 6.03.
	 	Collection Agent Fee
	
 
	 	 	 	 
	
 
	 	SECTION 6.04.
	 	Certain Rights of the Purchaser
	
 
	 	 	 	 
	
 
	 	SECTION 6.05.
	 	Rights and Remedies.
	
 
	 	 	 	 
	
 
	 	SECTION 6.06.
	 	Transfer of Records to Purchaser.
	
 
	 	 	 	 
	ARTICLE VII	 	EVENTS OF TERMINATION
	
 
	 	SECTION 7.01.
	 	Events of Termination
	
 
	 	 	 	 
	ARTICLE VIII

	 	INDEMNIFICATION

SECTION 8.01.
	 	

Indemnities by the Sellers
	
 
	 	 	 	 
	ARTICLE IX

	 	MISCELLANEOUS

SECTION 9.01.
	 	

Amendments, Etc.
	
 
	 	 	 	 
	
 
	 	SECTION 9.02.
	 	Notices, Etc.
	
 
	 	 	 	 
	
 
	 	SECTION 9.03.
	 	Binding Effect; Assignability
	
 
	 	 	 	 
	
 
	 	SECTION 9.04.
	 	Costs, Expenses and Taxes
	
 
	 	 	 	 
	
 
	 	SECTION 9.05.

SECTION 9.06.
	 	Intentionally Omitted.

Confidentiality
	
 
	 	 	 	 
	
 
	 	SECTION 9.07.
	 	GOVERNING LAW
	
 
	 	 	 	 
	
 
	 	SECTION 9.08.
	 	Third Party Beneficiary
	
 
	 	 	 	 
	
 
	 	SECTION 9.09.
	 	Execution in Counterparts
	
 
	 	 	 	 
	
 
	 	SECTION 9.10.
	 	Judgment
	
 
	 	 	 	 

EXHIBITS

	 	 	 
	EXHIBIT A

EXHIBIT B

EXHIBIT C

EXHIBIT D

EXHIBIT E-1

EXHIBIT E-2

EXHIBIT F

EXHIBIT G

	 	Credit and Collection Policy

Lock-Box Banks

[Reserved]

[Reserved]

Approved OECD Countries

Other Approved Jurisdictions

Sellers UCC Information

Form of Choice of Law Provision in Sellers’ Orders and other Agreements

2

EXHIBIT H Form of Promissory Note for Deferred Purchase PricePURCHASE AGREEMENT

Dated as of April 1 2008

FERRO COLOR & GLASS CORPORATION, a Pennsylvania corporation (“Ferro Color”) and FERRO
PFANSTIEHL LABORATORIES, INC., a Delaware corporation (“FPL”)(Ferro Color and FPL being
hereinafter sometimes referred to as the “Sellers”), and FERRO CORPORATION, an Ohio
corporation (the “Purchaser” or “Ferro”), agree as follows:

PRELIMINARY STATEMENTS. (1) Certain terms which are capitalized and used throughout this
Agreement (in addition to those defined above) are defined in Article I of this Agreement.

(2) The Sellers have Receivables that they wish to sell to the Purchaser, and the Purchaser is
prepared to purchase such Receivables on the terms set forth herein.

NOW, THEREFORE, the parties agree as follows:

ARTICLE I

DEFINITIONS

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

“2005 Downgrade Event” means the BB Downgrade Event which occurred on June 2,
2005, as a result of the downgrade to BB by S&P of Ferro’s long term public senior unsecured
non-credit-enhanced debt securities.

“2006 Downgrade Events” means (i) the BB Downgrade Event which occurred on
March 20, 2006, as a result of Moody’s downgrading the long term public senior unsecured
non-credit-enhanced debt securities of Ferro to B1 and then withdrawing its rating on such
debt securities, and (ii) the further downgrading by S&P on March 31, 2006 of the long term
public senior unsecured non-credit-enhanced debt securities of Ferro to B.

“Adverse Claim” means a lien, security interest, or other charge or
encumbrance, or any other type of preferential arrangement.

“Affiliate” means, as to any Person, any other Person that, directly or
indirectly, is in control of, is controlled by or is under common control with such Person
or is a director or officer of such Person.

“Agent” means Citicorp North America, Inc., in its capacity as agent under the
Sale Agreement or any successor agent thereunder.

“Alternate Base Rate” means a fluctuating interest rate per annum as shall be
in effect from time to time, which rate shall be at all times equal to the highest of:

(a) the rate of interest announced publicly by Citibank, N.A. in New York, New
York, from time to time as Citibank, N.A.’s base rate;

(b) 1/2 of one percent above the latest three-week moving average of secondary
market morning offering rates in the United States for three-month certificates of
deposit of major United States money market banks, such three-week moving average
being determined weekly on each Monday (or, if such day is not a Business Day, on
the next succeeding Business Day) for the three-week period ending on the previous
Friday by Citibank, N.A. on the basis of such rates reported by certificate of
deposit dealers to and published by the Federal Reserve Bank of New York or, if such
publication shall be suspended or terminated, on the basis of quotations for such
rates received by Citibank, N.A. from three New York certificate of deposit dealers
of recognized standing selected by Citibank, N.A., in either case adjusted to the
nearest 1/4 of one percent or, if there is no nearest 1/4 of one percent, to the
next higher 1/4 of one percent; or

(c) the Federal Funds Rate.

“Approved OECD Country” means each of the countries listed on Exhibit E-1
hereto, as such Exhibit may be amended from time to time upon request of the Sellers, with
the prior written approval of the Purchaser and the Agent. Additionally, if the Agent
removes any country from the Schedule of Approved OECD Countries attached to the Sale
Agreement, such country will cease to be an Approved OECD Country hereunder and the
Purchaser will immediately notify the Sellers thereof.

“BB Downgrade Event” means any of the long term public senior unsecured
non-credit-enhanced debt securities of Ferro are rated below BB+ by S&P or Ba1 by Moody’s,
or if Ferro does not have long term public senior unsecured non-credit-enhanced debt ratings
from both S&P and Moody’s, Ferro is judged by the Agent, in its sole discretion, to be of
credit quality below (with respect to each missing rating) BB+ by S&P or Ba1 by Moody’s.

“Business Day” means any day on which banks are not authorized or required to
close in New York, New York or Cleveland, Ohio.

“Collection Agent” means at any time the Person then authorized pursuant to
Section 6.01 to service, administer and collect Purchased Receivables.

“Collection Agent Fee” has the meaning specified in Section 6.03.

“Collections” means, with respect to any Receivable, all cash collections and
other cash proceeds of such Receivable, including, without limitation, all cash proceeds of
Related Security with respect to such Receivable, and all funds deemed to have been received
by a Seller or any other Person as a Collection pursuant to Section 2.04.

“Contract” means an agreement between a Seller (directly and not, for the
avoidance of doubt, by or through a subsidiary thereof) and an Obligor, substantially in the
form of one of the written contracts or (in the case of any open account agreement) one of
the invoices approved by the Purchaser, pursuant to or under which such Obligor shall be
obligated to pay for merchandise, insurance or services from time to time.

“Credit and Collection Policy” means those receivables credit and collection
policies and practices of each Seller in effect on the date of this Agreement applicable to
the Receivables and described in Exhibit A hereto, as modified in compliance with this
Agreement.

“Debt” means (i) indebtedness for borrowed money, (ii) obligations evidenced by
bonds, debentures, notes or other similar instruments, (iii) obligations to pay the deferred
purchase price of property or services, (iv) obligations as lessee under leases which shall
have been or should be, in accordance with generally accepted accounting principles,
recorded as capital leases, and (v) obligations under direct or indirect guaranties in
respect of, and obligations (contingent or otherwise) to purchase or otherwise acquire, or
otherwise to assure a creditor against loss in respect of, indebtedness or obligations of
others of the kinds referred to in clauses (i) through (iv) above.

“Defaulted Receivable” means a Receivable:

(i) as to which any payment, or part thereof, remains unpaid for 90 days or
more from the original due date for such payment;

(ii) as to which the Obligor thereof or any other Person obligated thereon or
owning any Related Security in respect thereof has taken any action, or suffered any
event to occur, of the type described in Section 7.01(g); or

(iii) which, consistent with the applicable Credit and Collection Policy, would
be written off as uncollectible.

“Deferred Purchase Price” means the portion of the Purchase Price of Purchased
Receivables purchased on any Purchase Date from a Seller exceeding the amount of the
Purchase Price under Section 2.02 to be paid in cash to such Seller. The obligations of the
Purchaser in respect of the Deferred Purchase Price payable to each Seller shall be
evidenced by the Purchaser’s subordinated promissory note in favor of such Seller in the
form of Exhibit H hereto.

“Designated Obligor” means, at any time, each Obligor; provided,
however, that any Obligor shall cease to be a Designated Obligor upon three Business
Days’ notice by the Purchaser to the relevant Seller.

“Dilution” means, with respect to any Receivable, the aggregate amount of any
reductions or adjustments in the Outstanding Balance of such Receivable as a result of any
defective, rejected, returned, repossessed or foreclosed merchandise or services or any cash
discount, discount for quick payment or other adjustment or setoff.

“Discount” means, in respect of each Purchase, 0.8% of the Outstanding Balance
of the Receivables that are the subject of such Purchase; provided, however,
the foregoing Discount may be revised prospectively by request of the relevant Seller or the
Purchaser to reflect changes in recent experience with respect to write-offs, timing and
cost of Collections and cost of funds, provided that such revision is consented to by both
of such parties (it being understood that each party agrees to duly consider such request
and that such consent shall not be unreasonably withheld).

“Eligible Receivable” means a Receivable:

(i) the Obligor of which is a resident of the United States (including, without
limitation, Puerto Rico), Canada, an Approved OECD Country or an Other Approved
Jurisdiction, provided that (A) the aggregate Outstanding Balance of all Eligible
Receivables having Obligors which are residents of an Approved OECD Country or an
Other Approved Jurisdiction may not exceed an amount equal to two times the
aggregate of the Loss Reserves for all Receivable Interests at such time (as each
such term is defined in the Sale Agreement), (B) the aggregate Outstanding Balance
of all Eligible Receivables having Obligors which are residents of an Other Approved
Jurisdiction may not exceed an amount equal to the aggregate of the Loss Reserves
for all Receivable Interests at such time (as each such term is defined in the Sale
Agreement), (C) the aggregate Outstanding Balance of all Eligible Receivables having
Obligors which are residents of Japan may not exceed $5,000,000, and (D) with
respect to each country which is an Other Approved Jurisdiction, the aggregate
Outstanding Balance of all Eligible Receivables having Obligors which are residents
of such country may not exceed (1) 5% of the then outstanding Capital under the Sale
Agreement, at any time that the sovereign long-term debt rating of such country is
at least A by S&P and at least A2 by Moody’s, and (2) 3.3% of the then outstanding
Capital under the Sale Agreement, at any time that the sovereign long-term debt
rating of such country is not at least A by S&P and at least A2 by Moody’s;

(ii) the Obligor of which is not an Affiliate of any of the parties hereto and
is not a government or a governmental subdivision or agency;

(iii) the Obligor of which, at the time of the transfer of such Receivable
under this Agreement, is a Designated Obligor and is not the Obligor of any
Defaulted Receivables which in the aggregate constitute 15% or more of the aggregate
Outstanding Balance of all Receivables of such Obligor;

(iv) which, at the time of the transfer thereof to the Purchaser under this
Agreement, is not a Defaulted Receivable;

(v) which, according to the Contract related thereto, is required to be paid in
full either (A) within not more than 60 days of the original billing date therefor
or (B) within more than 60 but no more than 90 days of the original billing date
therefor if the aggregate Outstanding Balance of such Receivable and all other
Receivables having similar payments terms does not exceed 25% of the then
Outstanding Balance of all Purchased Receivables at such time;

(vi) which is an obligation representing all or part of the sales price of
merchandise, insurance or services within the meaning of Section 3(c)(5) of the
Investment Company Act of 1940, as amended, and the nature of which is such that its
purchase with the proceeds of notes would constitute a “current transaction” within
the meaning of Section 3(a)(3) of the Securities Act of 1933, as amended;

(vii) which is an “account” within the meaning of Article 9 of the UCC of the
applicable jurisdictions;

(viii) which is denominated and payable only in United States dollars in the
United States;

(ix) which arises under a Contract which, together with such Receivable, is in
full force and effect and constitutes the legal, valid and binding obligation of the
Obligor of such Receivable and is not subject to any Adverse Claim or any dispute,
offset, counterclaim or defense whatsoever (except the potential discharge in
bankruptcy of such Obligor);

(x) which, together with the Contract related thereto, does not contravene in
any material respect any laws, rules or regulations applicable thereto (including,
without limitation, laws, rules and regulations relating to usury, consumer
protection, truth in lending, fair credit billing, fair credit reporting, equal
credit opportunity, fair debt collection practices and privacy) and with respect to
which no party to the Contract related thereto is in violation of any such law, rule
or regulation in any material respect;

(xi) which arises under a Contract which (A) does not require the Obligor under
such Contract to consent to the transfer, sale or assignment of the rights and
duties of the relevant Seller under such Contract and (B) does not contain a
confidentiality provision that purports to restrict the ability of the Purchaser and
its assignees to exercise their rights under this Agreement, including, without
limitation, their right to review the Contract;

(xii) which was generated in the ordinary course of the relevant Seller’s
business;

(xiii) which, at the time of the transfer of such Receivable under this
Agreement, has not been extended, rewritten or otherwise modified from the original
terms thereof;

(xiv) the transfer, sale or assignment of which does not contravene any
applicable law, rule or regulation;

(xv) which (A) satisfies all applicable requirements of the applicable Credit
and Collection Policy and (B) complies with such other criteria and requirements
(other than those relating to the collectibility of such Receivable) as the
Purchaser or its assigns may from time to time specify to the Sellers upon 30 days’
notice; and

(xvi) which was originated on or after the date of this Agreement.

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended
from time to time, and the regulations promulgated and rulings issued thereunder.

“Event of Termination” has the meaning specified in Section 7.01.

“Facility” means the willingness of the Purchaser to consider making Purchases
of Receivables from the Sellers from time to time pursuant to the terms of this Agreement.

“Facility Termination Date” means the earliest of (i) the “Facility Termination
Date” (as such term is defined in the Sale Agreement), (ii) the date of termination of the
Facility pursuant to Section 7.01 and (iii) the date which the Sellers designate by at least
two Business Days’ notice to the Purchaser and its assignees (including the SPV and the
Agent).

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

“General Trial Balance” of any Seller on any date means such Seller’s accounts
receivable trial balance (whether in the form of a computer printout, magnetic tape or
diskette) on such date, listing Obligors and the Receivables respectively owed by such
Obligors on such date together with the aged Outstanding Balances of such Receivables, in
form and substance satisfactory to the Purchaser.

“Incipient Event of Termination” means an event that but for notice or lapse of
time or both would constitute an Event of Termination.

“Indemnified Amounts” has the meaning specified in Section 8.01.

“Lock-Box Account” means one or more accounts, under the exclusive ownership
and control of the Purchaser (or its assignees or designees), maintained for the purpose of
receiving Collections.

“Lock-Box Agreement” means an agreement among a Seller, the Purchaser (or its
assignees or designees) and any Lock-Box Bank in form and substance satisfactory to the
Purchaser (or its assignees or designees).

“Lock-Box Bank” means any of the banks or other financial institutions holding
one or more Lock-Box Accounts.

“Monthly Report” means a report in form and substance satisfactory to the
Purchaser, furnished by the Collection Agent to the Purchaser pursuant to the first sentence
of Section 6.02(b).

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

“Non-Investment Grade Event” means any of the long term public senior unsecured
non-credit-enhanced debt securities of Ferro are rated below BBB- by S&P or Baa3 by Moody’s,
or if Ferro does not have long term public senior unsecured non-credit-enhanced debt ratings
from both S&P and Moody’s, Ferro is judged by the Agent, in its sole discretion, to be of
credit quality below (with respect to each missing rating) BBB- by S&P or Baa3 by Moody’s.

“Obligor” means a Person obligated to make payments to a Seller pursuant to a
Contract.

“Originator Purchase Agreement” means that certain Amended and Restated
Purchase and Contribution Agreement dated as of April 1 2008, between the Purchaser, as
seller and collection agent, and the SPV, as purchaser, as amended, restated, supplemented
or otherwise modified from time to time.

“Other Approved Jurisdiction” means each of the countries listed on Exhibit E-2
hereto, as such Exhibit may be amended from time to time upon request of the Sellers, with
prior written approval of the Purchaser and the Agent; provided, however,
that at any time that the sovereign long-term debt rating of any country listed on such
Exhibit falls below BBB- by S&P or below Baa3 by Moody’s, such country will cease to be an
Other Approved Jurisdiction. Additionally, if the Agent at any time removes any country
from the Schedule of Other Approved Jurisdictions attached to the Sale Agreement, such
country will cease to be an Other Approved Jurisdiction hereunder and the Purchaser will
immediately notify the Sellers thereof.

“Outstanding Balance” of any Receivable at any time means the then outstanding
principal balance thereof.

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

“Purchase” means a purchase by the Purchaser of Receivables from the Seller
pursuant to Article II.

“Purchase Date” means each day on which a Purchase is made pursuant to Article
II.

“Purchased Receivable” means any Receivable which is purchased by the Purchaser
pursuant to Section 2.02.

“Purchase Price” for any Purchase means an amount equal to the Outstanding
Balance of the Receivables that are the subject of such Purchase as set forth in the
relevant Seller’s General Trial Balance, minus the Discount for such Purchase.

“Receivable” means the indebtedness of any Obligor under a Contract (whether
constituting an account, instrument, chattel paper or general intangible), and includes the
right to payment of any interest or finance charges and other obligations of such Obligor
with respect thereto.

“Related Security” means with respect to any Receivable:

(i) all of the relevant Seller’s interest in any merchandise (including
returned merchandise) relating to any sale giving rise to such Receivable;

(ii) all security interests or liens and property subject thereto from time to
time purporting to secure payment of such Receivable, whether pursuant to the
Contract related to such Receivable or otherwise, together with all financing
statements filed against an Obligor describing any collateral securing such
Receivable;

(iii) all guaranties, insurance and other agreements or arrangements of
whatever character from time to time supporting or securing payment of such
Receivable whether pursuant to the Contract related to such Receivable or otherwise;
and

(iv) the Contract and all other books, records and other information
(including, without limitation, computer programs, tapes, discs, punch cards, data
processing software and related property and rights) relating to such Receivable and
the related Obligor.

“RPA Final Payment Date” means the later of the “Facility Termination Date” (as
such term is defined in the Sale Agreement) and the date on which all Capital, Yield (each
as defined in the Sale Agreement), fees and other obligations under the Sale Agreement are
paid in full.

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

“Sale Agreement” means that certain Second Amended and Restated Receivables
Purchase Agreement, dated as of April 1 2008, among the Purchaser, as seller, CAFCO, LLC, as
investor, Citibank, N.A., as a bank, Citicorp North America, Inc., as agent, Ferro Color and
FPL, as originators, and Ferro, as collection agent and an originator, as amended, restated,
supplemented or otherwise modified from time to time.

“Settlement Date” means the tenth day of each month (or if such day is not a
Business Day, the immediately succeeding Business Day); provided, however,
that following the occurrence of an Event of Termination, Settlement Dates shall occur on
such days as are selected from time to time by the Purchaser or its assignees in a written
notice to the Collection Agent.

“Solvent” means, when used with respect to any Person, that, as of any date of
determination, (a) the amount of the “present fair saleable value” of the assets of such
Person will, as of such date, exceed the amount of all “liabilities of such Person,
contingent or otherwise,” as of such date, as such quoted terms are determined in accordance
with applicable federal and state laws governing determinations of the insolvency of
debtors, (b) the present fair saleable value of the assets of such Person will, as of such
date, be greater than the amount that will be required to pay the liability of such Person
on its debts as such debts become absolute and matured, (c) such Person will not have, as of
such date, an unreasonably small amount of capital with which to conduct its business, and
(d) such Person does not intend to, and does not believe that it will, incur debts or
liabilities beyond its abilities to pay such debts and liabilities as they mature. For
purposes of this definition, (i) ”debt” means liability on a “claim,” and (ii) ”claim” means
any (x) right to payment, whether or not such a right is reduced to judgment, liquidated,
unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable,
secured or unsecured or (y) right to an equitable remedy for breach of performance if such
breach gives rise to a right to payment, whether or not such right to an equitable remedy is
reduced to judgment, fixed, contingent, matured or unmatured, disputed, undisputed, secured
or unsecured.

“SPV” means Ferro Finance Corporation, an Ohio corporation.

“State” means one of the fifty states of the United States or the District of
Columbia.

“UCC” means the Uniform Commercial Code as from time to time in effect in the
specified jurisdiction.

SECTION 1.02. Other Terms. All accounting terms not specifically defined herein
shall be construed in accordance with generally accepted accounting principles. All terms used in
Article 9 of the UCC in the State of New York, and not specifically defined herein, are used herein
as defined in such Article 9.

ARTICLE II

AMOUNTS AND TERMS OF PURCHASES

SECTION 2.01. Facility. On the terms and conditions hereinafter set forth and
without recourse to any Seller (except to the extent specifically provided herein), each Seller
shall sell to the Purchaser all Receivables originated by it from time to time and the Purchaser
shall purchase all such Receivables of such Seller from time to time, in each case during the
period from the date hereof to the Facility Termination Date.

SECTION 2.02. Making Purchases.

(a) Initial Purchase. Each Seller shall give the Purchaser at least one Business
Day’s notice of its request for the initial Purchase hereunder, which request shall specify the
date of such Purchase (which shall be a Business Day) and the proposed Purchase Price for such
Purchase. The Purchaser shall promptly notify such Seller whether it has determined to make such
Purchase. On the date of such Purchase, the Purchaser shall, upon satisfaction of the applicable
conditions set forth in Article III, pay the Purchase Price for such Purchase in the manner
provided in Section 2.02(c).

(b) Subsequent Purchases. On each Business Day following the initial Purchase, unless
a Seller or the Purchaser shall notify the other parties to the contrary, each Seller shall sell to
the Purchaser and the Purchaser shall purchase from such Seller, upon satisfaction of the
applicable conditions set forth in Article III, all Receivables originated by such Seller which
have not previously been sold to the Purchaser. On or within five Business Days after the date of
each such Purchase, the Purchaser shall pay the Purchase Price for such Purchase in the manner
provided in Section 2.02(c).

(c) Payment of Purchase Price. The Purchase Price for each Purchase shall be paid on
or within five Business Days after the Purchase Date therefor by means of either or both of the
following: (i) a deposit in same day funds to the relevant Seller’s account designated by such
Seller or (ii) an increase in the Deferred Purchase Price owing to the relevant Seller. In the
case of each Seller, the allocation of the Purchase Price as between such methods of payment shall
be subject in each instance to the approval of the Purchaser and such Seller; provided,
however, that the Deferred Purchase Price may only be increased to the extent that the
Purchaser is Solvent and shall remain Solvent after giving effect to such increase.

(d) Ownership of Receivables and Related Security. On each Purchase Date, after
giving effect to the Purchase on such date, the Purchaser shall own all Receivables originated by
the Sellers as of such date (including Receivables which have been previously sold to the Purchaser
hereunder). The Purchase of any Receivable shall include all Related Security with respect to such
Receivable.

(e) Assignment of Receivables relating to Obligors located in Germany. In addition to
the transfer of ownership of Receivables stipulated above each Seller, subject to the satisfaction
of the conditions precedent set out in this Agreement hereby assigns by way of a German law
assignment (Abtretung) within the meaning of Section 398 German Civil Code (B?rgerliches
Gesetzbuch) to the Purchaser all Receivables (whether now existing or hereafter arising) owed to
such Seller by an Obligor located in Germany (the “German Obligor Receivables”). The
Purchaser accepts such assignment. The assignment of the German Obligor Receivables shall include
all ancillary rights, priority rights as well as all other rights attached to the German Obligor
Receivables.

SECTION 2.03. Collections. (a)  Unless otherwise agreed in the Sale Agreement, the
Collection Agent shall, on each Settlement Date, deposit into an account of the Purchaser or the
Purchaser’s assignee all Collections of Purchased Receivables then held by the Collection Agent.

(b) In the event that any Seller believes that Collections which are not Collections of
Purchased Receivables have been deposited into an account of the Purchaser or the Purchaser’s
assignee, such Seller shall so advise the Purchaser and, on the Business Day following such
identification, the Purchaser shall remit, or shall cause to be remitted, all Collections so
deposited which are identified, to the Purchaser’s satisfaction, to be Collections of Receivables
which are not Purchased Receivables to such Seller.

(c) On each Settlement Date, the Purchaser shall pay to each Seller accrued interest on any
Deferred Purchase Price owed to such Seller and the Purchaser may, at its option, prepay in whole
or in part the principal amount of the Deferred Purchase Price.

SECTION 2.04. Settlement Procedures. (a)  If on any day the Outstanding Balance of
any Purchased Receivable is reduced or adjusted as a result of any defective, rejected, returned,
repossessed or foreclosed merchandise or services or any cash discount, discount for quick payment
or other adjustment made by the relevant Seller, or any set-off or dispute in respect of any claim
by the Obligor thereof against such Seller (whether such claim arises out of the same or a related
transaction or an unrelated transaction but excluding adjustments, reductions or
cancellations in respect of such Obligor’s bankruptcy), such Seller shall be deemed to have
received on such day a Collection of such Purchased Receivable in the amount of such reduction or
adjustment. If such Seller is not the Collection Agent, such Seller shall pay to the Collection
Agent on or prior to the next Settlement Date all amounts deemed to have been received pursuant to
this subsection.

(b) Upon discovery by any Seller or the Purchaser of a breach of any of the representations
and warranties made by a Seller in Section 4.01(j) with respect to any Purchased Receivable, such
party shall give prompt written notice thereof to the Purchaser or the relevant Seller as
applicable, as soon as practicable and in any event within three Business Days following such
discovery. Such Seller shall, upon not less than two Business Days’ notice from the Purchaser or
its assignee or designee, repurchase such Purchased Receivable on the next succeeding Settlement
Date for a repurchase price equal to the Outstanding Balance of such Purchased Receivable. Each
repurchase of a Purchased Receivable shall include the Related Security with respect to such
Purchased Receivable. The proceeds of any such repurchase shall be deemed to be a Collection in
respect of such Purchased Receivable. If such Seller is not the Collection Agent, such Seller
shall pay to the Collection Agent on or prior to the next Settlement Date the repurchase price
required to be paid pursuant to this subsection.

(c) Except as stated in subsection (a) or (b) of this Section 2.04 or as otherwise required by
law or the underlying Contract, all Collections from an Obligor of any Purchased Receivable shall
be applied to the Receivables of such Obligor in the order of the age of such Receivables, starting
with the oldest such Receivable, unless such Obligor designates its payment for application to
specific Receivables.

SECTION 2.05. Payments and Computations, Etc. (a)  All amounts to be paid or
deposited by any Seller or the Collection Agent hereunder shall be paid or deposited no later than
11:00 A.M. (New York City time) on the day when due in same day funds to an account or accounts
designated by the Purchaser from time to time, which accounts, during the existence of the Sale
Agreement, shall be those set forth in the Sale Agreement.

(b) Each Seller shall, to the extent permitted by law, pay to the Purchaser interest on any
amount not paid or deposited by such Seller (whether as Collection Agent or otherwise) when due
hereunder at an interest rate per annum equal to 2.0% per annum above the Alternate Base Rate,
payable on demand.

(c) All computations of interest and all computations of fees hereunder shall be made on the
basis of a year of 360 days for the actual number of days (including the first but excluding the
last day) elapsed. Whenever any payment or deposit to be made hereunder shall be due on a day
other than a Business Day, such payment or deposit shall be made on the next succeeding Business
Day and such extension of time shall be included in the computation of such payment or deposit.

ARTICLE III

CONDITIONS OF PURCHASES

SECTION 3.01. Conditions Precedent to Initial Purchase from the Sellers. The initial
Purchase of Receivables from the Sellers hereunder is subject to the conditions precedent that the
Purchaser shall have received on or before the date of such Purchase the following, each (unless
otherwise indicated) dated such date, in form and substance satisfactory to the Purchaser:

(a) Evidence that each Seller has taken any necessary corporate action to authorize
this Agreement and certified copies of all documents evidencing other necessary corporate
action and governmental approvals, if any, with respect to this Agreement.

(b) A certificate of the Secretary or Assistant Secretary of each Seller certifying the
names and true signatures of the officers of such Seller authorized to sign this Agreement
and the other documents to be delivered by it hereunder.

(c) Acknowledgment copies or time stamped receipt copies of proper financing
statements, duly filed on or before the date of the initial Purchase, naming each Seller as
the seller/debtor and the Purchaser as the purchaser/secured party, or other similar
instruments or documents, as the Purchaser may deem necessary or desirable under the UCC of
all appropriate jurisdictions or other applicable law to perfect the Purchaser’s ownership
of and security interest in the Purchased Receivables and Related Security and Collections
with respect thereto.

(d) Acknowledgment copies or time stamped receipt copies of proper financing
statements, if any, necessary to release all security interests and other rights of any
Person in the Purchased Receivables, Contracts or Related Security previously granted by
each Seller.

(e) Completed requests for information, dated on or before the date of such initial
Purchase, listing all effective financing statements filed in the jurisdictions referred to
in subsection (c) above that name any Seller as debtor, together with copies of such other
financing statements (none of which shall cover any Purchased Receivables, Contracts or
Related Security).

SECTION 3.02. Conditions Precedent to All Purchases. Each Purchase (including
the initial Purchase) hereunder shall be subject to the further conditions precedent that:

(a) with respect to any such Purchase, on or prior to the date of such Purchase, the
relevant Seller shall have delivered to the Purchaser, (i) if requested by the Purchaser,
such Seller’s General Trial Balance (which if in magnetic tape or diskette format shall be
compatible with the Purchaser’s computer equipment) as of a date not more than 31 days prior
to the date of such Purchase, and (ii) if requested by the Purchaser, a written report
identifying, among other things, the Receivables to be included in such Purchase and such
additional information concerning such Receivables as may reasonably be requested by the
Purchaser;

(b) with respect to any such Purchase, on or prior to the date of such Purchase, the
Collection Agent shall have delivered to the Purchaser, in form and substance satisfactory
to the Purchaser, a completed Monthly Report for the most recently ended reporting period
for which information is required pursuant to Section 6.02(b), and containing such
additional information as may reasonably be requested by the Purchaser;

(c) The relevant Seller shall have marked its master data processing records and, at
the request of the Purchaser, each Contract giving rise to Purchased Receivables and all
other relevant records evidencing the Receivables which are the subject of such Purchase
with a legend, acceptable to the Purchaser, stating that such Receivables, the Related
Security and Collections with respect thereto, have been sold in accordance with this
Agreement; and

(d) on the date of such Purchase the following statements shall be true (and the
relevant Seller, by accepting the amount of such Purchase, shall be deemed to have certified
that):

(i) The representations and warranties contained in Section 4.01 are correct on
and as of the date of such Purchase as though made on and as of such date (unless
stated to relate solely to an earlier date, in which case such representations and
warranties shall be correct as of such earlier date),

(ii) No event has occurred and is continuing, or would result from such
Purchase, that constitutes an Event of Termination or would constitute an Incipient
Event of Termination and

(iii) The Purchaser shall not have delivered to such Seller a notice that the
Purchaser shall not make any further Purchases hereunder; and

(e) the Purchaser shall have received such other approvals, opinions or documents as
the Purchaser may reasonably request.

ARTICLE IV

REPRESENTATIONS AND WARRANTIES

SECTION 4.01. Representations and Warranties of the Sellers. Each Seller represents
and warrants, as to itself, as follows:

(a) Such Seller is a corporation duly incorporated, validly existing and in good
standing, in each case under the laws of the applicable jurisdiction set forth in Exhibit F
hereto (as such Exhibit F may be amended from time to time pursuant to Section 5.01(b)) and
is duly qualified to do business, and is in good standing, in every jurisdiction where the
nature of its business requires it to be so qualified, unless the failure to so qualify
would not have a material adverse effect on (i) the interests of the Purchaser hereunder,
(ii) the collectibility of the Purchased Receivables, or (iii) the ability of the Seller or
the Collection Agent to perform their respective obligations hereunder.

(b) The execution, delivery and performance by such Seller of this Agreement and the
other documents to be delivered by it hereunder, including such Seller’s sale of Receivables
hereunder and such Seller’s use of the proceeds of Purchases, (i) are within such Seller’s
corporate powers, (ii) have been duly authorized by all necessary corporate action, (iii) do
not contravene (1) such Seller’s charter or by-laws, (2) any law, rule or regulation
applicable to such Seller, (3) any contractual restriction binding on or affecting such
Seller or its property or (4) any order, writ, judgment, award, injunction or decree binding
on or affecting such Seller or its property, and (iv) do not result in or require the
creation of any lien, security interest or other charge or encumbrance upon or with respect
to any of its properties (except for the transfer of such Seller’s interest in the Purchased
Receivables pursuant to this Agreement). This Agreement has been duly executed and
delivered by such Seller.

(c) No authorization or approval or other action by, and no notice to or filing with,
any governmental authority or regulatory body is required for the due execution, delivery
and performance by such Seller of this Agreement or any other document to be delivered by it
hereunder.

(d) This Agreement constitutes the legal, valid and binding obligation of such Seller
enforceable against such Seller in accordance with its terms.

(e) Purchases made pursuant to this Agreement will constitute a valid sale, transfer,
and assignment of the Purchased Receivables to Purchaser, enforceable against creditors of,
and purchasers from, such Seller. Such Seller shall have no remaining property interest in
any Purchased Receivable.

(f) [Intentionally Omitted.]

(g) There is no pending or, to such Seller’s knowledge, threatened action,
investigation or proceeding affecting such Seller or any of its subsidiaries before any
court, governmental agency or arbitrator which may materially adversely affect the financial
condition or operations of such Seller or any of its subsidiaries or the ability of such
Seller to perform its obligations under this Agreement or any other document to be delivered
by it hereunder, or which purports to affect the legality, validity or enforceability of
this Agreement or any other document to be delivered by it hereunder.

(h) No proceeds of any Purchase will be used to acquire any equity security of a class
which is registered pursuant to Section 12 of the Securities Exchange Act of 1934.

(i) No transaction contemplated hereby requires compliance with any bulk sales act or
similar law.

(j) Each Receivable purported to be sold by a Seller hereunder is an Eligible
Receivable (unless identified by such Seller as not an Eligible Receivable at the time of
sale), and each such Receivable and each Purchased Receivable, together with the Related
Security, is owned (prior to its sale hereunder) by such Seller free and clear of any
Adverse Claim (other than any Adverse Claim arising solely as the result of any action taken
by the Purchaser). When Purchaser makes a Purchase it shall acquire valid and perfected
first priority ownership of each Purchased Receivable and the Related Security and
Collections with respect thereto free and clear of any Adverse Claim (other than any Adverse
Claim arising solely as the result of any action taken by the Purchaser), and no effective
financing statement or other instrument similar in effect covering any Purchased Receivable,
any interest therein, the Related Security or Collections with respect thereto is on file in
any recording office except such as may be filed in favor of Purchaser in accordance with
this Agreement or in connection with any Adverse Claim arising solely as the result of any
action taken by the Purchaser.

(k) Each Monthly Report (if prepared by the relevant Seller, or to the extent that
information contained therein is supplied by such Seller), and all information and each
exhibit, financial statement, document, book, record or report furnished or to be furnished
at any time by such Seller to the Purchaser in connection with this Agreement is or will be
accurate in all material respects as of its date or (except as otherwise disclosed to the
Purchaser at such time) as of the date so furnished, and no such document contains or will
contain any untrue statement of a material fact or omits or will omit to state a material
fact necessary in order to make the statements contained therein, in the light of the
circumstances under which they were made, not misleading.

(l) The principal place of business and chief executive office of such Seller and the
office where such Seller keeps its records concerning the Purchased Receivables are located
at the address or addresses referred to in Section 5.01(b). Such Seller is located in the
jurisdiction of organization set forth in Exhibit F hereto for purposes of Section 9-307 of
the UCC as in effect in the State of New York; and the office in the jurisdiction of
organization of such Seller in which a UCC financing statement is required to be filed in
order to perfect the security interest granted by such Seller hereunder is set forth in
Exhibit F hereto (in each case as such Exhibit F may be amended from time to time pursuant
to Section 5.01(b)).

(m) The names and addresses of all the Lock-Box Banks, together with the account
numbers of the Lock-Box Accounts at such Lock-Box Banks, are specified in Exhibit B (as the
same may be updated from time to time pursuant to Section 5.01(h)).

(n) Such Seller is not known by and does not use any tradename or doing-business-as
name.

(o) With respect to any programs used by such Seller in the servicing of the
Receivables, no sublicensing agreements are necessary in connection with the designation of
a new Collection Agent pursuant to Section 6.01(b) so that such new Collection Agent shall
have the benefit of such programs (it being understood that,
however, the Collection Agent, if other than Ferro, shall be required to be bound by a
confidentiality agreement reasonably acceptable to such Seller).

(p) The sale of Purchased Receivables by such Seller to the Purchaser pursuant to this
Agreement, and all other transactions between such Seller and the Purchaser, have been and
will be made in good faith and without intent to hinder, delay or defraud creditors of such
Seller.

(q) Such Seller (directly and not, for the avoidance of doubt, by or through a
subsidiary thereof) has no office or place of business in the province of Quebec, Canada.

(r) Such Seller (directly and not, for the avoidance of doubt, by or through a
subsidiary thereof) does not have, and since September 28, 2000 has not had (directly and
not, for the avoidance of doubt, by or through a subsidiary thereof), a place of business in
either the United Kingdom or Ireland.

(s) Such Seller has (i) timely filed all federal tax returns required to be filed,
(ii) timely filed all other material state and local tax returns (other than with respect to
such state and local tax returns for the tax year 2005, which have been filed prior to the
date hereof) and (iii) paid or made adequate provision for the payment of all taxes,
assessments and other governmental charges (other than any tax, assessment or governmental
charge which is being contested in good faith and by proper proceedings, and with respect to
which the obligation to pay such amount is adequately reserved against in accordance with
generally accepted accounting principles).

ARTICLE V

COVENANTS

SECTION 5.01. Covenants of the Sellers. From the date hereof until the first day
following the Facility Termination Date on which all of the Purchased Receivables are either
collected in full or become Defaulted Receivables:

(a) Compliance with Laws, Etc. Each Seller will comply in all material
respects with all applicable laws, rules, regulations and orders and preserve and maintain
its corporate existence, rights, franchises, qualifications and privileges except to the
extent that the failure so to comply with such laws, rules and regulations or the failure so
to preserve and maintain such existence, rights, franchises, qualifications, and privileges
would not materially adversely affect the collectibility of the Purchased Receivables or the
ability of such Seller to perform its obligations under this Agreement.

(b) Offices, Records and Books of Account. Each Seller will keep its principal
place of business and chief executive office and the office where it keeps its records
concerning the Purchased Receivables at the address of such Seller set forth under its name
on the signature page to this Agreement, or, upon 30 days’ prior written notice to the
Purchaser, at any other locations within the United States. Such Seller will not change its
name or its state of organization, unless (i) the Seller shall have provided the Purchaser
with at least 30 days’ prior written notice thereof, together with an updated Exhibit F, and
(ii) no later than the effective date of such change, all actions required by Section
5.01(j) shall have been taken and completed. Upon confirmation by the Agent (prior to the
RPA Final Payment Date) or the Purchaser (following the RPA Final Payment Date) of receipt
of any such notice (together with an updated Exhibit F) and the completion, as aforesaid, of
all actions required by Section 5.01(j), Exhibit F to this Agreement shall, without further
action by any party, be deemed to be amended and replaced by the updated Exhibit F
accompanying such notice. Each Seller also will maintain and implement administrative and
operating procedures (including, without limitation, an ability to recreate records
evidencing Purchased Receivables and related Contracts in the event of the destruction of
the originals thereof), and keep and maintain all documents, books, records and other
information reasonably necessary or advisable for the collection of all Purchased
Receivables (including, without limitation, records adequate to permit the daily
identification of each new Purchased Receivable and all Collections of and adjustments to
each existing Purchased Receivable). Each Seller shall make a notation in its books and
records, including its computer files, to indicate which Receivables have been sold to the
Purchaser hereunder.

(c) Performance and Compliance with Contracts and Credit and Collection Policy.
Each Seller will, at its expense, timely and fully perform and comply with all material
provisions, covenants and other promises required to be observed by it under the Contracts
related to the Purchased Receivables, and timely and fully comply in all material respects
with the applicable Credit and Collection Policy in regard to each Purchased Receivable and
the related Contract.

(d) Sales, Liens, Etc. Except for the sales of Receivables contemplated
herein, each Seller will not sell, assign (by operation of law or otherwise) or otherwise
dispose of, or create or suffer to exist any Adverse Claim upon or with respect to, any
Purchased Receivable, Related Security, related Contract or Collections, or upon or with
respect to any account to which any Collections of any Purchased Receivable are sent, or
assign any right to receive income in respect thereof.

(e) Extension or Amendment of Purchased Receivables. Except as provided in
Section 6.02(c), each Seller will not extend, amend or otherwise modify the terms of any
Purchased Receivable, or amend, modify or waive any term or condition of any Contract
related thereto.

(f) Change in Business or Credit and Collection Policy. Each Seller will not
make any change in the character of its business or in its Credit and Collection Policy that
would, in either case, materially adversely affect the collectibility of the Purchased
Receivables or the ability of such Seller to perform its obligations under this Agreement.

(g) Audits. Each Seller will, from time to time during regular business hours
as requested by the Purchaser or its assigns, permit the Purchaser, or its agents,
representatives or assigns, (i) to examine and make copies of and abstracts from all books,
records and documents (including, without limitation, computer tapes and disks) in the
possession or under the control of such Seller relating to Purchased Receivables and the
Related Security, including, without limitation, the related Contracts, and (ii) to visit
the offices and properties of such Seller for the purpose of examining such materials
described in clause (i) above, and to discuss matters relating to Purchased Receivables and
the Related Security or such Seller’s performance hereunder or under the Contracts with any
of the officers or employees of such Seller having knowledge of such matters.

(h) Change in Payment Instructions to Obligors. Each Seller will not add or
terminate any bank or bank account as a Lock-Box Bank or Lock-Box Account from those listed
in Exhibit B to this Agreement, or make any change in its instructions to Obligors regarding
payments to be made to any Lock-Box Bank unless the Purchaser shall have received notice of
such addition, termination or change (including an updated Exhibit B) and executed copies of
Lock-Box Agreements with each new Lock-Box Bank or with respect to each new Lock-Box
Account. Upon confirmation by the Purchaser’s assignees of receipt of such notice and the
related documents, Exhibit B hereto shall, without further action by any party be deemed to
be amended and restated by the updated Exhibit B accompanying such notice.

(i) Deposits to Lock-Box Accounts. Each Seller will instruct all Obligors to
remit all their payments in respect of Purchased Receivables into Lock-Box Accounts. If
such Seller shall receive any Collections directly, it shall immediately (and in any event
within two Business Days) deposit the same to a Lock-Box Account. Such Seller will not
deposit or otherwise credit, or cause or permit to be so deposited or credited, to any
Lock-Box Account cash or cash proceeds other than Collections of Purchased Receivables.

(j) Further Assurances. (i)  Each Seller agrees from time to time, at its
expense, promptly to execute and deliver all further instruments and documents, and to take
all further actions, that may be necessary or desirable, or that the Purchaser or its
assignee may reasonably request, to perfect, protect or more fully evidence the sale of
Receivables under this Agreement, or to enable the Purchaser or its assignee to exercise and
enforce its respective rights and remedies under this Agreement. Without limiting the
foregoing, such Seller will, upon the request of the Purchaser or its assignee, (A) execute
and file such financing or continuation statements, or amendments thereto, and such other
instruments and documents, that may be necessary or desirable to perfect, protect or
evidence such Purchased Receivables and any security interest in other assets of such Seller
granted hereunder; and (B) deliver to the Purchaser copies of all Contracts relating to the
Purchased Receivables and all records relating to such Contracts and the Purchased
Receivables, whether in hard copy or in magnetic tape or diskette format (which if in
magnetic tape or diskette format shall be compatible with the Purchaser’s computer
equipment).

(ii) Each Seller authorizes the Purchaser or its assignee to file financing or
continuation statements, and amendments thereto and assignments thereof, relating to the
Purchased Receivables and the Related Security, the related Contracts and the Collections
with respect thereto and any other assets of such Seller in which a security interest is
granted hereunder.

(iii) Each Seller shall perform its obligations under the Contracts related to the
Purchased Receivables to the same extent as if the Purchased Receivables had not been sold
or transferred.

(k) Reporting Requirements. Each Seller will provide to the Purchaser (and its
assignees) the following:

(i) as soon as possible and in any event within five days after the occurrence
of each Event of Termination or Incipient Event of Termination, a statement of the
chief financial officer of such Seller setting forth details of such Event of
Termination or Incipient Event of Termination and the action that such Seller has
taken and proposes to take with respect thereto;

(ii) [Intentionally omitted];

(iii) at least 30 days prior to any change in such Seller’s name or
jurisdiction of incorporation, a notice setting forth the new name or jurisdiction
of incorporation and the effective date thereof;

(iv) promptly, and in any event within five Business Days of such event,
written notice of such Seller no longer being qualified to do business, or in good
standing, in any jurisdiction set forth in Exhibit F hereto (as such Exhibit F may
be amended from time to time pursuant to Section 5.01(b)) or any other jurisdiction
where the nature of its business requires it to be so qualified; and

(v) such other information respecting the Purchased Receivables or the
condition or operations, financial or otherwise, of such Seller as the Purchaser (or
its assignees) may from time to time reasonably request.

(l) [Intentionally Omitted.]

(m) Foreign Offices. Each Seller agrees that it will not take any action to
open a place of business in either the United Kingdom or Ireland without (i) providing the
Purchaser and its assignee with at least ten Business Days’ prior written notice, and
(ii) taking all actions that the Purchaser or its assignee may reasonably request pursuant
to Section 5.01(j) with respect to the laws of the United Kingdom or Ireland, as applicable.

(n) Orders and Agreements. Each of Ferro Color and FPL agrees that all orders
and/or other agreements regarding Receivables sent by such Seller will include a choice of
law provision substantially in the form attached hereto as Exhibit G identifying the law of
a State as the governing law.

SECTION 5.02. Grant of Security Interest. To secure all obligations of each Seller
arising in connection with this Agreement, and each other agreement entered into in connection with
this Agreement, whether now or hereafter existing, due or to become due, direct or indirect, or
absolute or contingent, including, without limitation, Indemnified Amounts, payments on account of
Collections received or deemed to be received, and any other amounts due the Purchaser hereunder,
each Seller hereby assigns and grants to Purchaser a security interest in all of such Seller’s
right, title and interest now or hereafter existing in, to and under all Receivables which do not
constitute Purchased Receivables, the Related Security and all Collections with regard thereto.

SECTION 5.03. Covenant of each Seller and the Purchaser. Each Seller and the
Purchaser have structured this Agreement with the intention that each Purchase of Receivables
hereunder be treated as a sale of such Receivables by such Seller to the Purchaser for all
purposes. Each Seller and the Purchaser shall record each Purchase as a sale or purchase, as the
case may be, on its books and records, and reflect each Purchase in its financial statements and
tax returns as a sale or purchase, as the case may be. In the event that, contrary to the mutual
intent of each Seller and the Purchaser, any Purchase of Receivables hereunder is not characterized
as a sale or absolute transfer, such Seller shall, effective as of the date hereof, be deemed to
have granted (and such Seller hereby does grant) to the Purchaser a first priority security
interest in and to any and all Receivables, the Related Security and the proceeds thereof to secure
the repayment of all amounts advanced to such Seller hereunder with accrued interest thereon, and
this Agreement shall be deemed to be a security agreement.

ARTICLE VI

ADMINISTRATION AND COLLECTION

SECTION 6.01. Designation of Collection Agent. The servicing, administration and
collection of the Purchased Receivables shall be conducted by such Person (the “Collection
Agent”) so designated hereunder from time to time. Until the RPA Final Payment Date, Ferro (or
such other Person as may be designated from time to time under the Sale Agreement) is hereby
designated as, and hereby agrees to perform the duties and obligations of, the Collection Agent
pursuant to the terms hereof. Following the RPA Final Payment Date, the Purchaser, by notice to
Ferro, may designate as Collection Agent any Person (including itself) to succeed Ferro or any
successor Collection Agent, if such Person shall consent and agree to the terms hereof. Upon
Ferro’s receipt of such notice, Ferro agrees that it will terminate its activities as Collection
Agent hereunder in a manner which the Purchaser (or its designee or assignees) believes will
facilitate the transition of the performance of such activities to the new Collection Agent, and
Ferro shall use its best efforts to assist the Purchaser (or its designee or assignee) to take over
the servicing, administration and collection of the Purchased Receivables, including, without
limitation, providing access to and copies of all computer tapes or disks and other documents or
instruments that evidence or relate to Purchased Receivables maintained in its capacity as
Collection Agent and access to all employees and officers of Ferro responsible with respect
thereto. The Collection Agent may, with the prior consent of the Purchaser, subcontract with any
other Person for the servicing, administration or collection of Purchased Receivables (and the
Purchaser, on behalf of itself and the Agent, hereby consents to the subcontracting to Ferro Color
or FPL, as the case may be of the servicing, administration and collection of Purchased Receivables
originated by Ferro Color or FPL, as the case may be). Any such subcontract shall not affect the
Collection Agent’s liability for performance of its duties and obligations pursuant to the terms
hereof, and any such subcontract shall automatically terminate upon designation of a successor
Collection Agent.

SECTION 6.02. Duties of Collection Agent. (a)  The Collection Agent shall take or
cause to be taken all such actions as may be necessary or advisable to collect each Purchased
Receivable from time to time, all in accordance with applicable laws, rules and regulations, with
reasonable care and diligence, and in accordance with the applicable Credit and Collection Policy.
The Purchaser hereby appoints the Collection Agent, from time to time designated pursuant to
Section 6.01, as agent to enforce its ownership and other rights in the Purchased Receivables, the
Related Security and the Collections with respect thereto. In performing its duties as Collection
Agent, the Collection Agent shall exercise the same care and apply the same policies as it would
exercise and apply if it owned the Purchased Receivables and shall act in the best interests of the
Purchaser and its assignees.

(b) Prior to the tenth Business Day of each month, the Collection Agent shall prepare and
forward to the Purchaser (if the Purchaser is not the Collection Agent) (i) a Monthly Report,
relating to all then outstanding Purchased Receivables, and the Related Security and Collections
with respect thereto, in each case, as of the close of business of the Collection Agent on the last
day of the immediately preceding month, and (ii) if requested by the Purchaser, a listing by
Obligor of all Purchased Receivables correlating Purchased Receivables and Purchases, together with
an aging report of such Purchased Receivables.

(c) If no Event of Termination or Incipient Event of Termination shall have occurred and be
continuing, Ferro, while it is the Collection Agent, may, in accordance with the applicable Credit
and Collection Policy, extend the maturity or adjust the Outstanding Balance of any Purchased
Receivable as Ferro deems appropriate to maximize Collections thereof, or otherwise amend or modify
the terms of any Purchased Receivable.

(d) Each Seller shall deliver to the Collection Agent, and the Collection Agent shall hold in
trust for each Seller and the Purchaser in accordance with their respective interests, all
documents, instruments and records (including, without limitation, computer tapes or disks) which
evidence or relate to Purchased Receivables.

(e) The Collection Agent shall as soon as practicable following receipt turn over to the
relevant Seller any cash collections or other cash proceeds received with respect to Receivables
not constituting Purchased Receivables, less, in the event such Seller is not the Collection Agent,
all reasonable and appropriate out-of-pocket costs and expenses of the Collection Agent of
servicing, collecting and administering the Receivables to the extent not covered by the Collection
Agent Fee received by it.

(f) The Collection Agent also shall perform the other obligations of the “Collection Agent”
set forth in this Agreement with respect to the Purchased Receivables.

SECTION 6.03. Collection Agent Fee. The Purchaser shall pay to the Collection Agent,
so long as it is acting as the Collection Agent hereunder (and provided that the Purchaser is not
the Collection Agent), a periodic collection fee (the “Collection Agent Fee”) of 0.50% per
annum on the average daily aggregate Outstanding Balance of the Purchased Receivables, payable on
the tenth day of each month (or, if such day is not a Business Day, the immediately succeeding
Business Day) or such other day during each calendar month as the Purchaser and the Collection
Agent shall agree.

SECTION 6.04. Certain Rights of the Purchaser. (a)  The Purchaser may, at any time,
give notice of ownership and/or direct the Obligors of Purchased Receivables and any Person
obligated on any Related Security, or any of them, that payment of all amounts payable under any
Purchased Receivable shall be made directly to the Purchaser or its designee. Each Seller hereby
transfers to the Purchaser (and its assigns and designees) the exclusive ownership and control of
each Lock-Box Account maintained by or on behalf of such Seller for the purpose of receiving
Collections.

(b) At any time following the designation of a Collection Agent other than Ferro pursuant to
Section 6.01 or following an Event Termination, a Non-Investment Grade Event (other than the 2005
Downgrade Event or the 2006 Downgrade Events) or an Incipient Event of Termination:

(i) Each Seller shall, upon the Purchaser’s request and at such Seller’s expense, give
notice of the Purchaser’s ownership to each Obligor of Purchased Receivables and direct that
payments of all amounts payable under such Purchased Receivables be made directly to the
Purchaser or its designees or assignees.

(ii) At the Purchaser’s request and at the relevant Seller’s expense, each Seller and
the Collection Agent shall (A) assemble all of the documents, instruments and other records
(including, without limitation, computer tapes and disks) that evidence or relate to the
Purchased Receivables, and the related Contracts and Related Security, or that are otherwise
necessary or desirable to collect the Purchased Receivables, and shall make the same
available to the Purchaser at a place selected by the Purchaser or its designees or
assignees, and (B) segregate all cash, checks and other instruments received by it from time
to time constituting Collections of Purchased Receivables in a manner acceptable to the
Purchaser and, promptly upon receipt, remit all such cash, checks and instruments, duly
indorsed or with duly executed instruments of transfer, to the Purchaser or its designee or
assignee. The Purchaser shall also have the right to make copies of all such documents,
instruments and other records at any time.

(iii) Each Seller authorizes the Purchaser to take any and all steps in such Seller’s
name and on behalf of such Seller that are necessary or desirable, in the determination of
the Purchaser, to collect amounts due under the Purchased Receivables, including, without
limitation, endorsing such Seller’s name on checks and other instruments representing
Collections of Purchased Receivables and enforcing the Purchased Receivables and the Related
Security and related Contracts.

SECTION 6.05. Rights and Remedies. (a)  If any Seller or the Collection Agent fails
to perform any of its obligations under this Agreement, the Purchaser or its assignees may (but
shall not be required to) itself perform, or cause performance of, such obligation, and, if such
Seller (as Collection Agent or otherwise) fails to so perform, the costs and expenses of the
Purchaser incurred in connection therewith shall be payable by such Seller as provided in Section
8.01 or Section 9.04 as applicable.

(b) Each Seller shall perform all of its obligations under the Contracts related to the
Purchased Receivables to the same extent as if such Seller had not sold Receivables hereunder and
the exercise by the Purchaser of its rights hereunder shall not relieve such Seller from such
obligations or its obligations with respect to the Purchased Receivables. The Purchaser shall not
have any obligation or liability with respect to any Purchased Receivables or related Contracts,
nor shall the Purchaser be obligated to perform any of the obligations of such Seller thereunder.

(c) Each Seller shall cooperate with the Collection Agent in collecting amounts due from
Obligors in respect of the Purchased Receivables.

(d) Each Seller hereby grants to Collection Agent an irrevocable power of attorney, with full
power of substitution, coupled with an interest, to take in the name of such Seller all steps
necessary or advisable to endorse, negotiate or otherwise realize on any writing or other right of
any kind held or transmitted by such Seller or transmitted or received by Purchaser (whether or not
from such Seller) in connection with any Purchased Receivable.

SECTION 6.06. Transfer of Records to Purchaser. Each Purchase of Receivables
hereunder shall include the transfer to the Purchaser of all of the relevant Seller’s right and
title to and interest in the records relating to such Receivables and shall include an irrevocable
non-exclusive license to the use of such Seller’s computer software system to access and create
such records. Such license shall be without royalty or payment of any kind, is coupled with an
interest, and shall be irrevocable until all of the Purchased Receivables are either collected in
full or become Defaulted Receivables.

Each Seller shall take such action requested by the Purchaser, from time to time hereafter,
that may be necessary or appropriate to ensure that the Purchaser has an enforceable ownership
interest in the records relating to the Purchased Receivables and rights (whether by ownership,
license or sublicense) to the use of such Seller’s computer software system to access and create
such records.

In recognition of each Seller’s need to have access to the records transferred to the
Purchaser hereunder, the Purchaser hereby grants to such Seller an irrevocable license to access
such records in connection with any activity arising in the ordinary course of such Seller’s
business or in performance of its duties as Collection Agent, provided that (i) such Seller shall
not disrupt or otherwise interfere with the Purchaser’s use of and access to such records during
such license period and (ii) such Seller consents to the assignment and delivery of the records
(including any information contained therein relating to such Seller or its operations) to any
assignees or transferees of the Purchaser provided they agree to hold such records confidential.

ARTICLE VII

EVENTS OF TERMINATION

SECTION 7.01. Events of Termination. If any of the following events (“Events of
Termination”) shall occur and be continuing:

(a) The Collection Agent (if other than the Purchaser) (i) shall fail to perform or
observe any term, covenant or agreement under this Agreement (other than as referred to in
clauses (ii) or (iii) of this subsection (a)) and such failure shall remain unremedied for
five Business Days, or (ii) shall fail to make when due a payment or deposit, if any,
required to be made by it under this Agreement, or (iii) shall fail to deliver any Monthly
Report when due and such failure shall remain unremedied for three Business Days; or

(b) Any Seller shall fail to make a payment, if any, required under Section 2.04(a) or
2.04(b); or

(c) Any representation or warranty made or deemed made by any Seller (or any of its
officers) under or in connection with this Agreement or any information or report delivered
by such Seller pursuant to this Agreement shall prove to have been incorrect or untrue in
any material respect when made or deemed made or delivered; or

(d) Any Seller shall fail to perform or observe any other term, covenant or agreement
contained in this Agreement on its part to be performed or observed and any such failure
shall remain unremedied for 10 days after written notice thereof shall have been given to
such Seller by the Purchaser; or

(e) Any Seller shall fail to pay any principal of or premium or interest on any of its
Debt which is outstanding in a principal amount of at least $5,000,000 in the aggregate when
the same becomes due and payable (whether by scheduled maturity, required prepayment,
acceleration, demand or otherwise), and such failure shall continue after the applicable
grace period, if any, specified in the agreement or instrument relating to such Debt; or any
other event shall occur or condition shall exist under any agreement or instrument relating
to any such Debt and shall continue after the applicable grace period, if any, specified in
such agreement or instrument, if the effect of such event or condition is to accelerate, or
to permit the acceleration of, the maturity of such Debt; or any such Debt shall be declared
to be due and payable, or required to be prepaid (other than by a regularly scheduled
required prepayment), redeemed, purchased or defeased, or an offer to repay, redeem,
purchase or defease such Debt shall be required to be made, in each case prior to the stated
maturity thereof; or

(f) Any Purchase of Receivables hereunder, the Related Security and the Collections
with respect thereto shall for any reason cease to constitute valid and perfected ownership
of such Receivables, Related Security and Collections free and clear of any Adverse Claim;
or

(g) Any Seller shall generally not pay its debts as such debts become due, or shall
admit in writing its inability to pay its debts generally, or shall make a general
assignment for the benefit of creditors; or any proceeding shall be instituted by or against
any Seller seeking to adjudicate it a bankrupt or insolvent, or seeking liquidation, winding
up, reorganization, arrangement, adjustment, protection, relief, or composition of it or its
debts under any law relating to bankruptcy, insolvency or reorganization or relief of
debtors, or seeking the entry of an order for relief or the appointment of a receiver,
trustee, custodian or other similar official for it or for any substantial part of its
property and, in the case of any such proceeding instituted against it (but not instituted
by it), either such proceeding shall remain undismissed or unstayed for a period of 30 days,
or any of the actions sought in such proceeding (including, without limitation, the entry of
an order for relief against, or the appointment of a receiver, trustee, custodian or other
similar official for, it or for any substantial part of its property) shall occur; or any
Seller or any of its subsidiaries shall take any corporate action to authorize any of the
actions set forth above in this subsection (g); or

(h) an Event of Termination shall have occurred under the Sale Agreement or the
Originator Purchase Agreement; or

(i) There shall have occurred any event which may materially adversely affect the
collectibility of the Purchased Receivables or the ability of any Seller to collect
Purchased Receivables or otherwise perform its obligations under this Agreement;

then, and in any such event, the Purchaser or its assignees may, by notice to each Seller, take
either or both of the following actions: (x) declare the Facility Termination Date to have
occurred (in which case the Facility Termination Date shall be deemed to have occurred) and
(y) without limiting any right under this Agreement to replace the Collection Agent (but subject,
prior to the RPA Final Payment Date, to the designation made under the Sale Agreement), designate
another Person to succeed Ferro as Collection Agent; provided, that, automatically upon the
occurrence of any event (without any requirement for the passage of time or the giving of notice)
described in paragraph (g) of this Section 7.01, the Facility Termination Date shall occur, Ferro
(if it is then serving as the Collection Agent) shall cease to be the Collection Agent, and the
Purchaser (or its assigns or designees) shall become the Collection Agent. Upon any such
declaration or designation or upon such automatic termination, the Purchaser and its assignees
shall have, in addition to the rights and remedies under this Agreement, all other rights and
remedies with respect to the Receivables provided after default under the UCC and under other
applicable law, which rights and remedies shall be cumulative.

ARTICLE VIII

INDEMNIFICATION

SECTION 8.01. Indemnities by the Sellers. Without limiting any other rights which
the Purchaser may have hereunder or under applicable law, each Seller hereby agrees to indemnify
the Purchaser and its assigns and transferees (each, an “Indemnified Party”) from
and against any and all damages, claims, losses, liabilities and related costs and expenses,
including reasonable attorneys’ fees and disbursements (all of the foregoing being collectively
referred to as “Indemnified Amounts”), awarded against or incurred by any Indemnified Party
arising out of or as a result of this Agreement or the purchase of any Purchased Receivables
originated by such Seller or in respect of any Purchased Receivable originated by such Seller or
any related Contract, including, without limitation, arising out of or as a result of:

(i) the characterization in any Monthly Report or other statement made by such Seller
of any Purchased Receivable as an Eligible Receivable which is not an Eligible Receivable as
of the date of such Monthly Report or statement;

(ii) any representation or warranty or statement made or deemed made by such Seller (or
any of its officers) under or in connection with this Agreement, which shall have been
incorrect in any material respect when made;

(iii) the failure by such Seller to comply with any applicable law, rule or regulation
with respect to any Purchased Receivable or the related Contract; or the failure of any
Purchased Receivable originated by such Seller or the related Contract to conform to any
such applicable law, rule or regulation;

(iv) the failure to vest in the Purchaser absolute ownership of the Receivables that
are, or that purport to be, the subject of a Purchase under this Agreement and the Related
Security and Collections in respect thereof, free and clear of any Adverse Claim;

(v) the failure of such Seller to have filed, or any delay in filing, financing
statements or other similar instruments or documents under the UCC of any applicable
jurisdiction or other applicable laws with respect to any Receivables that are, or that
purport to be, the subject of a Purchase under this Agreement and the Related Security and
Collections in respect thereof, whether at the time of any Purchase or at any subsequent
time;

(vi) any dispute, claim, offset or defense (other than discharge in bankruptcy of the
Obligor) of the Obligor to the payment of any Receivable originated by such Seller that is,
or that purports to be, the subject of a Purchase under this Agreement (including, without
limitation, a defense based on such Receivable or the related Contract not being a legal,
valid and binding obligation of such Obligor enforceable against it in accordance with its
terms), or any other claim resulting from the sale of the merchandise or services related to
such Receivable or the furnishing or failure to furnish such merchandise or services or
relating to collection activities with respect to such Receivable (if such collection
activities were performed by such Seller acting as Collection Agent);

(vii) any failure of such Seller, as Collection Agent or otherwise, to perform its
duties or obligations in accordance with the provisions hereof or to perform its duties or
obligations under any Contract related to a Purchased Receivable originated by such Seller;

(viii) any products liability or other claim arising out of or in connection with
merchandise, insurance or services which are the subject of any Contract related to a
Purchased Receivable originated by such Seller;

(ix) the commingling of Collections of Purchased Receivables by such Seller or a
designee of such Seller, as Collection Agent or otherwise, at any time with other funds of
such Seller or an Affiliate of such Seller;

(x) any investigation, litigation or proceeding related to this Agreement or the use of
proceeds of Purchases by such Seller or the ownership of Receivables, the Related Security,
or Collections with respect thereto or in respect of any Receivable originated by such
Seller, the Related Security or Contract;

(xi) any failure of such Seller to comply with its covenants contained in this
Agreement;

(xii) any Collection Agent Fees or other costs and expenses payable to any replacement
Collection Agent;

(xiii) any claim brought by any Person other than an Indemnified Party arising from any
activity by such Seller or any Affiliate of such Seller in servicing, administering or
collecting any Purchased Receivable; or

(xiv) any Dilution with respect to any Purchased Receivable originated by such Seller.

It is expressly agreed and understood by the parties hereto (i) that the foregoing indemnification
is not intended to, and shall not, constitute a guarantee of the collectibility or payment of the
Purchased Receivables and (ii) that nothing in this Section 8.01 shall require any Seller to
indemnify any Person (A) for Receivables which are not collected, not paid or uncollectible on
account of the insolvency, bankruptcy, or financial inability to pay of the applicable Obligor,
(B) for damages, losses, claims or liabilities or related costs or expenses to the extent found in
a final non-appealable judgment of a court of competent jurisdiction to have resulted from such
Person’s gross negligence or willful misconduct, or (C) for any income taxes or franchise taxes
incurred by such Person arising out of or as a result of this Agreement or in respect of any
Purchased Receivable or any Contract.

ARTICLE IX

MISCELLANEOUS

SECTION 9.01. Amendments, Etc. No amendment or waiver of any provision of this
Agreement or consent to any departure by any Seller therefrom shall be effective unless in a
writing signed by the Purchaser and, in the case of any amendment, also signed by the Sellers, and
then such amendment, 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 Purchaser to exercise, and no
delay in exercising, any right hereunder shall operate as a waiver thereof; nor shall any single or
partial exercise of any right hereunder preclude any other or further exercise thereof or the
exercise of any other right. Notwithstanding any other provision of this Section 9.01, Exhibit F
hereto may be amended in accordance with the procedures set forth in Section 5.01(b).

SECTION 9.02. Notices, Etc. All notices and other communications hereunder shall,
unless otherwise stated herein, be in writing (which shall include facsimile communication) and be
faxed or delivered, to each party hereto, at its address set forth under its name on the signature
pages hereof or at such other address as shall be designated by such party in a written notice to
the other parties hereto. Notices and communications by facsimile shall be effective when sent
(and shall be followed by hard copy sent by regular mail), and notices and communications sent by
other means shall be effective when received.

SECTION 9.03. Binding Effect; Assignability. (a)  This Agreement shall be binding
upon and inure to the benefit of the Sellers, the Purchaser and their respective successors and
assigns; provided, however, that no Seller may assign its rights or obligations
hereunder or any interest herein without the prior written consent of the Purchaser. In connection
with any sale or assignment by the Purchaser of all or a portion of the Purchased Receivables, the
buyer or assignee, as the case may be, shall, to the extent of its purchase or assignment, have all
rights of the Purchaser under this Agreement (as if such buyer or assignee, as the case may be,
were the Purchaser hereunder) except to the extent specifically provided in the agreement between
the Purchaser and such buyer or assignee, as the case may be.

(b) This Agreement shall create and constitute the continuing obligations of the parties
hereto in accordance with its terms, and shall remain in full force and effect until such time,
after the Facility Termination Date, when all of the Purchased Receivables are either collected in
full or become Defaulted Receivables; provided, however, that rights and remedies
with respect to any breach of any representation and warranty made by any Seller pursuant to
Article IV and the provisions of Article VIII and Sections 9.04, 9.05 and 9.06 shall be continuing
and shall survive any termination of this Agreement.

SECTION 9.04. Costs, Expenses and Taxes. (a)  In addition to the rights of
indemnification granted to the Purchaser pursuant to Article VIII hereof, each Seller agrees to pay
on demand all costs and expenses in connection with the preparation, execution and delivery of this
Agreement and the other documents and agreements to be delivered hereunder, including, without
limitation, the reasonable fees and out-of-pocket expenses of counsel for the Purchaser with
respect thereto and with respect to advising the Purchaser as to its rights and remedies under this
Agreement, and each Seller agrees to pay all costs and expenses, if any (including reasonable
counsel fees and expenses), in connection with the enforcement of this Agreement and the other
documents to be delivered hereunder excluding, however, any costs of enforcement or
collection of Purchased Receivables which are not paid on account of the insolvency, bankruptcy or
financial inability to pay of the applicable Obligor.

(b) In addition, each Seller agrees to pay any and all stamp and other taxes and fees payable
in connection with the execution, delivery, filing and recording of this Agreement or the other
documents or agreements to be delivered hereunder, and each Seller agrees to save each Indemnified
Party harmless from and against any liabilities with respect to or resulting from any delay in
paying or omission to pay such taxes and fees.

SECTION 9.05. [Intentionally Omitted.].

SECTION 9.06. Confidentiality. Each party hereto agrees to maintain the
confidentiality of this Agreement in communications with third parties and otherwise;
provided that this Agreement may be disclosed (i) to third parties to the extent such
disclosure is made pursuant to a written agreement of confidentiality in form and substance
reasonably satisfactory to the other party hereto, and (ii) to such party’s legal counsel and
auditors and the Purchaser’s assignees, if they agree in each case to hold it confidential and
(iii) to the extent required by applicable law or regulation or by any court, regulatory body or
agency having jurisdiction over such party (including, without limitation, the filing of this
Agreement with the SEC as an exhibit to an annual or quarterly report under the Securities Exchange
Act of 1934); and provided, further, that such party shall have no obligation of
confidentiality in respect of any information which may be generally available to the public or
becomes available to the public through no fault of such party.

SECTION 9.07. GOVERNING LAW. THIS AGREEMENT, IN ACCORDANCE WITH SECTION 5-1401 OF
THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK, SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO ANY CONFLICT OF LAWS
PRINCIPLES THEREOF THAT WOULD CALL FOR THE APPLICATION OF THE LAWS OF ANY OTHER JURISDICTION,
EXCEPT TO THE EXTENT THAT, PURSUANT TO THE UCC OF THE STATE OF NEW YORK, THE PERFECTION AND THE
EFFECT OF PERFECTION OR NON-PERFECTION OF THE PURCHASER’S OWNERSHIP OF OR SECURITY INTEREST IN THE
RECEIVABLES ARE GOVERNED BY THE LAWS OF A JURISDICTION OTHER THAN THE STATE OF NEW YORK; PROVIDED,
HOWEVER, THAT SECTION 2.02(e) SHALL BE GOVERNED BY THE LAWS OF THE FEDERAL REPUBLIC OF GERMANY.

SECTION 9.08. Third Party Beneficiary. Each of the parties hereto hereby acknowledges
that the Purchaser may assign all or any portion of its rights under this Agreement and that such
assignees may (except as otherwise agreed to by such assignees) further assign their rights under
this Agreement, and each Seller hereby consents to any such assignments. All such assignees,
including parties to the Sale Agreement and the Originator Purchase Agreement in the case of
assignment to such parties, shall be third party beneficiaries of, and shall be entitled to enforce
the Purchaser’s rights and remedies under, this Agreement to the same extent as if they were
parties thereto, except to the extent specifically limited under the terms of their assignment.

SECTION 9.09. 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 when taken together shall constitute one and the same agreement.

SECTION 9.10. Judgment. (a)  If for the purposes of obtaining judgment in any court
it is necessary to convert a sum due hereunder in U.S. Dollars into another currency, the parties
hereto agree, to the fullest extent that they may effectively do so, that the rate of exchange used
shall be that at which in accordance with normal banking procedures the Purchaser could purchase
U.S. Dollars with such other currency at New York, New York on the Business Day preceding that on
which final judgment is given.

(b) The obligation of each Seller in respect of any sum due from it to the Purchaser hereunder
shall, notwithstanding any judgment in a currency other than U.S. Dollars, be discharged only to
the extent that on the Business Day following receipt by the Purchaser of any sum adjudged to be so
due in such other currency the Purchaser may in accordance with normal banking procedures purchase
U.S. Dollars with such other currency; if the U.S. Dollars so purchased are less than the sum
originally due to the Purchaser in U.S. Dollars, such Seller agrees, as a separate obligation and
notwithstanding any such judgment, to indemnify the Purchaser against such loss, and if the U.S.
Dollars so purchased exceed the sum originally due to the Purchaser in U.S. Dollars, the Purchaser
shall remit to such Seller such excess.

[Remainder of page intentionally left blank]

3

IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their
respective officers thereunto duly authorized, as of the date first above written.

	 	 	 
	SELLERS:

	 	

	FERRO COLOR & GLASS CORPORATION

	By:

	 	/s/ Cynthia M. Kerker
	
 
	 	 
	
 
	 	Name: Cynthia M. Kerker

Title: Treasurer

	251	 	West Wylie Avenue

Washington, PA 16301

Attention: Treasurer

Facsimile No.: (216) 875-7237

4

FERRO PFANSTIEHL LABORATORIES,

INC.

	 	 	 
	By:

	 	/s/ Cynthia M. Kerker
	
 
	 	 
	
 
	 	Name: Cynthia M. Kerker

Title: Treasurer

	1219	 	Glen Rock Avenue

Waukegan, IL 60015

Attention: Treasurer

Facsimile No.: (216) 875-7237

	 	 	 	 	 
	PURCHASER:	 	FERRO CORPORATION
	
 
	 	By:
	 	/s/ Cynthia M. Kerker
	
 
	 	 	 	 
	
 
	 	 	 	Name: Cynthia M. Kerker

Title: Treasurer

	1000	 	Lakeside Avenue

Cleveland, OH 44114

Attention: Treasurer

Facsimile No.: (216) 875-7237

5

EXHIBIT A

6

CREDIT AND COLLECTION POLICY

EXHIBIT B

7

LOCK-BOX BANKS

EXHIBIT E-1

Approved OECD Countries

1. United Kingdom

2. Germany

3. Netherlands

4. Ireland

5. Belgium

6. France

7. Italy

8. Australia

9. Japan

10. Austria

11. Switzerland

12. Sweden

13. Spain

14. New Zealand

15. Norway

16. Denmark

8

EXHIBIT E-2

Other Approved Jurisdictions

1. South Korea

2. Mexico

3. Hungary

4. Czech Republic

5. Taiwan

6. Israel

7. Hong Kong

8. Singapore

9. Malaysia

10. Slovenia

9

EXHIBIT F

SELLER UCC INFORMATION

Name: Ferro Color & Glass Corporation

Jurisdiction of Organization: Pennsylvania

UCC Filing Office: Pennsylvania Secretary of the Commonwealth

Name: Ferro Pfanstiehl Laboratories, Inc.

Jurisdiction of Organization: Delaware

UCC Filing Office: Delaware Secretary of State

10

EXHIBIT G

11

FORM OF CHOICE OF LAW PROVISION IN SELLERS’ ORDERS AND OTHER AGREEMENTS

“Governing Law. This contract shall be governed and construed in accordance with the laws

of the [insert one of the fifty states of the United States or the District of Columbia], without

application of its choice of law rules.”EXHIBIT H

FORM OF

DEFERRED PURCHASE PRICE NOTE

New York, New York

April 1 2008

FOR VALUE RECEIVED, FERRO CORPORATION, an Ohio corporation (the “Purchaser”), hereby
promises to pay to [insert name of applicable Seller] (the “Seller”) the principal amount
of this Note, determined as described below, together with interest thereon at a rate per annum
equal at all times to 1.50% per annum above the Eurodollar Rate (as defined in the Sale Agreement)
for periods of one month, in each case in lawful money of the United States of America.
Capitalized terms used herein but not defined herein shall have the meanings assigned to such terms
in the Purchase Agreement dated as of April 1 2008 among the Purchaser, the Seller, and the other
sellers party thereto (such agreement, as it may from time to time be amended, restated or
otherwise modified in accordance with its terms, the “Purchase Agreement”). This Note is
one of the notes referred to in the definition of “Deferred Purchase Price” in the Purchase
Agreement.

The aggregate principal amount of this Note at any time shall be equal to the difference
between (a) the sum of the aggregate principal amount of this Note on the date of the issuance
hereof and each addition to the principal amount of this Note pursuant to the terms of Section 2.02
of the Purchase Agreement minus (b) the aggregate amount of all payments made in respect of the
principal amount of this Note, in each case, as recorded on the schedule annexed to and
constituting a part of this Note, but failure to so record shall not affect the obligations of the
Purchaser to the Seller.

The entire principal amount of this Note shall be due and payable one year and one day after
the Facility Termination Date or such later date as may be agreed in writing by the Seller and the
Purchaser. The principal amount of this Note may, at the option of the Purchaser, be prepaid in
whole at any time or in part from time to time. Interest on this Note shall be paid in arrears on
each Settlement Date, and shall be payable at maturity and thereafter on demand. All payments
hereunder shall be made by wire transfer of immediately available funds to such account of the
Seller as the Seller may designate in writing.

Notwithstanding any other provisions contained in this Note, in no event shall the rate of
interest payable by the Purchaser under this Note exceed the highest rate of interest permissible
under applicable law.

12

THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW
YORK.

	 	 	 
	FERRO CORPORATION

	By:

	 	                                         
	
 
	 	 
	
 
	 	Title: Treasurer

13

SCHEDULE TO DEFERRED PURCHASE PRICE NOTE

	 	 	 	 	 	 	 	 	 
	Date

	 	Addition to

Principal Amount
	 	Amount of Principal

Paid or Prepaid
	 	Unpaid Principal

Balance
	 	

Notation Made By
	 

	 	 
	 	 
	 	 
	 	 

003554, 000006, 102177257

14EX-10.2

AMENDED AND RESTATED

PURCHASE AND CONTRIBUTION AGREEMENT

Dated as of April 1 2008

Between

FERRO CORPORATION

as Seller

and

FERRO FINANCE CORPORATION

1

as Purchaser

TABLE OF CONTENTS

Page

EXHIBITS

	 	 	 
	EXHIBIT A

EXHIBIT B

EXHIBIT C

EXHIBIT D

EXHIBIT E-1

EXHIBIT E-2

EXHIBIT F

EXHIBIT G

EXHIBIT H

EXHIBIT I

	 	Credit and Collection Policy

Lock-Box Banks

Form of Promissory Note for Deferred Purchase Price

Form of Promissory Note for Purchaser Loans

Approved OECD Countries

Other Approved Jurisdictions

Seller UCC Information

Form of Choice of Law Provision in Seller’s Orders and other Agreements

[Reserved]

Trade Names or Doing-Business-As Names

2

AMENDED AND RESTATED

PURCHASE AND CONTRIBUTION AGREEMENT

Dated as of April 1 2008

FERRO CORPORATION, an Ohio corporation (“Ferro Corporation” or “Seller”), and
FERRO FINANCE CORPORATION, an Ohio corporation (the “Purchaser”), agree as follows:

PRELIMINARY STATEMENTS. (1) Certain terms which are capitalized and used throughout this
Agreement (in addition to those defined above) are defined in Article I of this Agreement.

(2) The Seller and the Purchaser are parties to that certain Purchase and Contribution
Agreement dated as of September 28, 2000 as heretofore amended (as so amended, the “Original
PCA”). The Purchaser has acquired, and may continue to acquire, Receivables from the Seller,
either by purchase or by contribution to the capital of the Seller, as determined from time to time
by the Seller and the Purchaser. The parties hereto wish to amend and restate the Original PCA in
its entirety and remove Ferro Electronic Materials Inc. as a party to such amended and restated
agreement and to otherwise amend the Original PCA as set forth herein. Accordingly, the parties
agree that the Original PCA is amended and restated in its entirety as follows:

ARTICLE I

DEFINITIONS

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

“2005 Downgrade Event” means the BB Downgrade Event which occurred on June 2,
2005, as a result of the downgrade to BB by S&P of Ferro Corporation’s long term public
senior unsecured non-credit-enhanced debt securities.

“2006 Downgrade Events” means (i) the BB Downgrade Event which occurred on
March 20, 2006, as a result of Moody’s downgrading the long term public senior unsecured
non-credit-enhanced debt securities of Ferro Corporation to B1 and then withdrawing its
rating on such debt securities, and (ii) the further downgrading by S&P on March 31, 2006 of
the long term public senior unsecured non-credit-enhanced debt securities of Ferro
Corporation to B.

“Adverse Claim” means a lien, security interest, or other charge or
encumbrance, or any other type of preferential arrangement.

“Affiliate” means, as to any Person, any other Person that, directly or
indirectly, is in control of, is controlled by or is under common control with such Person
or is a director or officer of such Person.

“Agent” means Citicorp North America, Inc., in its capacity as agent under the
Sale Agreement or any successor agent thereunder.

“Alternate Base Rate” means a fluctuating interest rate per annum as shall be
in effect from time to time, which rate shall be at all times equal to the highest of:

(a) the rate of interest announced publicly by Citibank, N.A. in New York, New
York, from time to time as Citibank, N.A.’s base rate;

(b) 1/2 of one percent above the latest three-week moving average of secondary
market morning offering rates in the United States for three-month certificates of
deposit of major United States money market banks, such three-week moving average
being determined weekly on each Monday (or, if such day is not a Business Day, on
the next succeeding Business Day) for the three-week period ending on the previous
Friday by Citibank, N.A. on the basis of such rates reported by certificate of
deposit dealers to and published by the Federal Reserve Bank of New York or, if such
publication shall be suspended or terminated, on the basis of quotations for such
rates received by Citibank, N.A. from three New York certificate of deposit dealers
of recognized standing selected by Citibank, N.A., in either case adjusted to the
nearest 1/4 of one percent or, if there is no nearest 1/4 of one percent, to the
next higher 1/4 of one percent; or

(c) the Federal Funds Rate.

“Approved OECD Country” means each of the countries listed on Exhibit E-1
hereto, as such Exhibit may be amended from time to time upon request of Ferro Corporation,
with the prior written approval of the Purchaser and the Agent. Additionally, if the Agent
removes any country from the Schedule of Approved OECD Countries attached to the Sale
Agreement, such country will cease to be an Approved OECD Country hereunder and the
Purchaser will immediately notify Ferro Corporation thereof.

“BB Downgrade Event” means any of the long term public senior unsecured
non-credit-enhanced debt securities of Ferro Corporation are rated below BB+ by S&P or Ba1
by Moody’s, or if Ferro Corporation does not have long term public senior unsecured
non-credit-enhanced debt ratings from both S&P and Moody’s, Ferro Corporation is judged by
the Agent, in its sole discretion, to be of credit quality below (with respect to each
missing rating) BB+ by S&P or Ba1 by Moody’s.

“Business Day” means any day on which banks are not authorized or required to
close in New York, New York or Cleveland, Ohio.

“Collection Agent” means at any time the Person then authorized pursuant to
Section 6.01 to service, administer and collect Transferred Receivables.

“Collection Agent Fee” has the meaning specified in Section 6.03.

“Collections” means, with respect to any Receivable, all cash collections and
other cash proceeds of such Receivable, including, without limitation, all cash proceeds of
Related Security with respect to such Receivable, and all funds deemed to have been received
by the Seller or any other Person as a Collection pursuant to Section 2.04.

“Contract” means an agreement between an Originator (directly and not, for the
avoidance of doubt, by or through a subsidiary thereof) and an Obligor, substantially in the
form of one of the written contracts or (in the case of any open account agreement) one of
the invoices approved by the Purchaser, pursuant to or under which such Obligor shall be
obligated to pay for merchandise, insurance or services from time to time.

“Contributed Receivable” has the meaning specified in Section 2.06.

“Credit and Collection Policy” means those receivables credit and collection
policies and practices of each applicable Originator in effect on the date of this Agreement
applicable to the Receivables and described in Exhibit A hereto, as modified in compliance
with this Agreement.

“Daily Report” means a report in form and substance satisfactory to the
Purchaser, furnished by the Collection Agent to the Purchaser pursuant to the third sentence
of Section 6.02(b).

“Debt” means (i) indebtedness for borrowed money, (ii) obligations evidenced by
bonds, debentures, notes or other similar instruments, (iii) obligations to pay the deferred
purchase price of property or services, (iv) obligations as lessee under leases which shall
have been or should be, in accordance with generally accepted accounting principles,
recorded as capital leases, and (v) obligations under direct or indirect guaranties in
respect of, and obligations (contingent or otherwise) to purchase or otherwise acquire, or
otherwise to assure a creditor against loss in respect of, indebtedness or obligations of
others of the kinds referred to in clauses (i) through (iv) above.

“Defaulted Receivable” means a Receivable:

(i) as to which any payment, or part thereof, remains unpaid for 90 days or
more from the original due date for such payment;

(ii) as to which the Obligor thereof or any other Person obligated thereon or
owning any Related Security in respect thereof has taken any action, or suffered any
event to occur, of the type described in Section 7.01(g); or

(iii) which, consistent with the applicable Originator’s Credit and Collection
Policy, would be written off by such Originator or the Seller as uncollectible.

“Deferred Purchase Price” means the portion of the Purchase Price of Purchased
Receivables purchased on any Purchase Date exceeding the amount of the Purchase Price under
Section 2.02 to be paid in cash. The obligations of the Purchaser in respect of the
Deferred Purchase Price shall be evidenced by the Purchaser’s subordinated promissory note
in the form of Exhibit C hereto.

“Designated Obligor” means, at any time, each Obligor; provided,
however, that any Obligor shall cease to be a Designated Obligor upon three Business
Days’ notice by the Purchaser to the Seller.

“Dilution” means, with respect to any Receivable, the aggregate amount of any
reductions or adjustments in the Outstanding Balance of such Receivable as a result of any
defective, rejected, returned, repossessed or foreclosed merchandise or services or any cash
discount, discount for quick payment or other adjustment or setoff.

“Discount” means, in respect of each Purchase, 0.8% of the Outstanding Balance
of the Receivables that are the subject of such Purchase; provided, however,
the foregoing Discount may be revised prospectively by request of the Seller or the
Purchaser to reflect changes in recent experience with respect to write-offs, timing and
cost of Collections and cost of funds, provided that such revision is consented to by both
of such parties (it being understood that each party agrees to duly consider such request
and that such consent shall not be unreasonably withheld).

“Eligible Receivable” means a Receivable:

(i) the Obligor of which is a resident of the United States (including, without
limitation, Puerto Rico), Canada, an Approved OECD Country or an Other Approved
Jurisdiction, provided that (A) the aggregate Outstanding Balance of all Eligible
Receivables having Obligors which are residents of an Approved OECD Country or an
Other Approved Jurisdiction may not exceed an amount equal to two times the
aggregate of the Loss Reserves for all Receivable Interests at such time (as each
such term is defined in the Sale Agreement), (B) the aggregate Outstanding Balance
of all Eligible Receivables having Obligors which are residents of an Other Approved
Jurisdiction may not exceed an amount equal to the aggregate of the Loss Reserves
for all Receivable Interests at such time (as each such term is defined in the Sale
Agreement), (C) the aggregate Outstanding Balance of all Eligible Receivables having
Obligors which are residents of Japan may not exceed $5,000,000, and (D) with
respect to each country which is an Other Approved Jurisdiction, the aggregate
Outstanding Balance of all Eligible Receivables having Obligors which are residents
of such country may not exceed (1) 5% of the then outstanding Capital under the Sale
Agreement, at any time that the sovereign long-term debt rating of such country is
at least A by S&P and at least A2 by Moody’s, and (2) 3.3% of the then outstanding
Capital under the Sale Agreement, at any time that the sovereign long-term debt
rating of such country is not at least A by S&P and at least A2 by Moody’s;

(ii) the Obligor of which is not an Affiliate of any of the parties hereto and
is not a government or a governmental subdivision or agency;

(iii) the Obligor of which, at the time of the transfer of such Receivable
under this Agreement, is a Designated Obligor and is not the Obligor of any
Defaulted Receivables which in the aggregate constitute 15% or more of the aggregate
Outstanding Balance of all Receivables of such Obligor;

(iv) which, at the time of the transfer thereof to the Purchaser under this
Agreement, is not a Defaulted Receivable;

(v) which, according to the Contract related thereto, is required to be paid in
full either (A) within not more than 60 days of the original billing date therefor
or (B) within more than 60 but no more than 90 days of the original billing date
therefor if the aggregate Outstanding Balance of such Receivable and all other
Receivables having similar payments terms does not exceed 25% of the then
Outstanding Balance of all Transferred Receivables at such time;

(vi) which is an obligation representing all or part of the sales price of
merchandise, insurance or services within the meaning of Section 3(c)(5) of the
Investment Company Act of 1940, as amended, and the nature of which is such that its
purchase with the proceeds of notes would constitute a “current transaction” within
the meaning of Section 3(a)(3) of the Securities Act of 1933, as amended;

(vii) which is an “account” within the meaning of Article 9 of the UCC of the
applicable jurisdictions;

(viii) which is denominated and payable only in United States dollars in the
United States;

(ix) which arises under a Contract which, together with such Receivable, is in
full force and effect and constitutes the legal, valid and binding obligation of the
Obligor of such Receivable and is not subject to any Adverse Claim or any dispute,
offset, counterclaim or defense whatsoever (except the potential discharge in
bankruptcy of such Obligor);

(x) which, together with the Contract related thereto, does not contravene in
any material respect any laws, rules or regulations applicable thereto (including,
without limitation, laws, rules and regulations relating to usury, consumer
protection, truth in lending, fair credit billing, fair credit reporting, equal
credit opportunity, fair debt collection practices and privacy) and with respect to
which no party to the Contract related thereto is in violation of any such law, rule
or regulation in any material respect;

(xi) which arises under a Contract which (A) does not require the Obligor under
such Contract to consent to the transfer, sale or assignment of the rights and
duties of the applicable Originator under such Contract and (B) does not contain a
confidentiality provision that purports to restrict the ability of the Purchaser and
its assignees to exercise their rights under this Agreement, including, without
limitation, their right to review the Contract;

(xii) which was generated in the ordinary course of the applicable Originator’s
business;

(xiii) which, at the time of the transfer of such Receivable under this
Agreement, has not been extended, rewritten or otherwise modified from the original
terms thereof;

(xiv) the transfer, sale or assignment of which does not contravene any
applicable law, rule or regulation;

(xv) which (A) satisfies all applicable requirements of the applicable Credit
and Collection Policy and (B) complies with such other criteria and requirements
(other than those relating to the collectibility of such Receivable) as the
Purchaser or its assigns may from time to time specify to the Seller upon 30 days’
notice; and

(xvi) which, if it was originated by either of Ferro Glass or FPL, was
originated on or after the date of the Purchase Agreement.

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended
from time to time, and the regulations promulgated and rulings issued thereunder.

“Event of Termination” has the meaning specified in Section 7.01.

“FPL” means Ferro Pfanstiehl Laboratories, Inc., a Delaware corporation.

“Facility” means the willingness of the Purchaser to consider making Purchases
of Receivables from the Seller from time to time pursuant to the terms of this Agreement.

“Facility Termination Date” means the earliest of (i) the “Facility Termination
Date” (as such term is defined in the Sale Agreement), (ii) the date of termination of the
Facility pursuant to Section 7.01 and (iii) the date which the Seller designates by at least
two Business Days’ notice to the Purchaser and its assignees (including the Agent).

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

“Ferro Color” means Ferro Color & Glass Corporation, a Pennsylvania
corporation.

“General Trial Balance” of the Seller on any date means the Seller’s accounts
receivable trial balance (whether in the form of a computer printout, magnetic tape or
diskette) on such date, listing Obligors and the Receivables respectively owed by such
Obligors on such date together with the aged Outstanding Balances of such Receivables, in
form and substance satisfactory to the Purchaser.

“Incipient Event of Termination” means an event that but for notice or lapse of
time or both would constitute an Event of Termination.

“Indemnified Amounts” has the meaning specified in Section 8.01.

“Lock-Box Account” means one or more accounts, under the exclusive ownership
and control of the Purchaser (or its assignees or designees), maintained for the purpose of
receiving Collections.

“Lock-Box Agreement” means an agreement among the Seller, the Purchaser (or its
assignees or designees) and any Lock-Box Bank in form and substance satisfactory to the
Purchaser (or its assignees or designees).

“Lock-Box Bank” means any of the banks or other financial institutions holding
one or more Lock-Box Accounts.

“Monthly Report” means a report in form and substance satisfactory to the
Purchaser, furnished by the Collection Agent to the Purchaser pursuant to the first sentence
of Section 6.02(b).

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

“Non-Investment Grade Event” means any of the long term public senior unsecured
non-credit-enhanced debt securities of the Seller are rated below BBB- by S&P or Baa3 by
Moody’s, or if the Seller does not have long term public senior unsecured
non-credit-enhanced debt ratings from both S&P and Moody’s, the Seller is judged by the
Agent, in its sole discretion, to be of credit quality below (with respect to each missing
rating) BBB- by S&P or Baa3 by Moody’s.

“Obligor” means a Person obligated to make payments pursuant to a Contract.

“Original PCA” has the meaning specified in the preliminary statements to this
Agreement.

“Originator” means each of the Seller, Ferro Color and FPL.

“Other Approved Jurisdiction” means each of the countries listed on Exhibit E-2
hereto, as such Exhibit may be amended from time to time upon request of the Seller, with
prior written approval of the Purchaser and the Agent; provided, however,
that at any time that the sovereign long-term debt rating of any country listed on such
Exhibit falls below BBB- by S&P or below Baa3 by Moody’s, such country will cease to be an
Other Approved Jurisdiction. Additionally, if the Agent at any time removes any country
from the Schedule of Other Approved Jurisdictions attached to the Sale Agreement, such
country will cease to be an Other Approved Jurisdiction hereunder and the Purchaser will
immediately notify the Seller thereof.

“Outstanding Balance” of any Receivable at any time means the then outstanding
principal balance thereof.

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

“Purchase” means a purchase by the Purchaser of Receivables from the Seller
pursuant to Article II.

“Purchase Agreement” means the Purchase Agreement dated as of April 1 2008
among Ferro Color and FPL, as sellers, and the Seller, as purchaser, as the same may be
amended, restated, supplemented or otherwise modified from time to time.

“Purchase Date” means each day on which a Purchase is made pursuant to
Article II.

“Purchased Receivable” means any Receivable which is purchased by the Purchaser
pursuant to Section 2.02.

“Purchase Price” for any Purchase means (x) in respect of any Purchase of
Receivables originated by FPL or Ferro Color, an amount equal to the “Purchase Price” paid
by the Seller pursuant to the Purchase Agreement for the Receivables that are the subject of
such Purchase, and (y)  in respect of any other Purchase, an amount equal to the Outstanding
Balance of the Receivables that are the subject of such Purchase as set forth in the
Seller’s General Trial Balance, minus the Discount for such Purchase.

“Purchaser Loan” means any loan made by the Purchaser, at its option, to the
Seller, upon the Seller’s request, provided that (a) the aggregate principal amount at any
one time outstanding of Purchaser Loans shall not exceed $5,000,000, and (b) no such
Purchaser Loans may be made if an Event of Termination or an Incipient Event of Termination
has occurred and is continuing, or would occur after giving effect thereto, or if any
amounts are outstanding under the Deferred Purchase Price. Purchaser Loans made by the
Purchaser hereunder shall be evidenced by a promissory note of the Seller in substantially
the form of Exhibit D hereto.

“Receivable” means the indebtedness of any Obligor under a Contract (whether
constituting an account, instrument, chattel paper or general intangible), and includes the
right to payment of any interest or finance charges and other obligations of such Obligor
with respect thereto.

“Related Security” means with respect to any Receivable:

(i) all of the Seller’s or other applicable Originator’s interest in any
merchandise (including returned merchandise) relating to any sale giving rise to
such Receivable;

(ii) all security interests or liens and property subject thereto from time to
time purporting to secure payment of such Receivable, whether pursuant to the
Contract related to such Receivable or otherwise, together with all financing
statements filed against an Obligor describing any collateral securing such
Receivable;

(iii) all guaranties, insurance and other agreements or arrangements of
whatever character from time to time supporting or securing payment of such
Receivable whether pursuant to the Contract related to such Receivable or otherwise;

(iv) the Contract and all other books, records and other information
(including, without limitation, computer programs, tapes, discs, punch cards, data
processing software and related property and rights) relating to such Receivable and
the related Obligor; and

(v) the Purchase Agreement and all rights of the Seller to receive monies due
or to become due thereunder.

“RPA Final Payment Date” means the later of the “Facility Termination Date” (as
such term is defined in the Sale Agreement) and the date on which all Capital, Yield (each
as defined in the Sale Agreement), fees and other obligations under the Sale Agreement are
paid in full.

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

“Sale Agreement” means that certain Second Amended and Restated Receivables
Purchase Agreement, dated as of April 1 2008, among the Purchaser, as seller, CAFCO, LLC, as
investor, Citibank, N.A., as a bank, Citicorp North America, Inc., as agent, Ferro Color and
FPL each as an originator, and Ferro Corporation, as collection agent and an originator, as
amended, restated, supplemented or otherwise modified from time to time.

“Seller Report” means a Monthly Report, a Weekly Report or a Daily Report.

“Settlement Date” means the tenth day of each month (or if such day is not a
Business Day, the immediately succeeding Business Day); provided, however,
that following the occurrence of an Event of Termination, Settlement Dates shall occur on
such days as are selected from time to time by the Purchaser or its assignees in a written
notice to the Collection Agent.

“State” means one of the fifty states of the United States or the District of
Columbia.

“Tangible Net Worth” means at any time the excess of (i) the sum of (a) the
product of (x) 100% minus the Discount multiplied by (y) the Outstanding Balance of all
Transferred Receivables other than Defaulted Receivables plus (b) cash and cash equivalents
of the Purchaser plus (c) the outstanding principal amount of Purchaser Loans, minus
(ii) the sum of (a) Capital (as such term is defined in the Sale Agreement) plus (b) the
Deferred Purchase Price.

“Transferred Receivable” means a Purchased Receivable or a Contributed
Receivable.

“UCC” means the Uniform Commercial Code as from time to time in effect in the
specified jurisdiction.

“Week” means each calendar week beginning on Saturday and ending on (and
including) the following Friday.

“Weekly Report” means a report in form and substance satisfactory to the
Purchaser, furnished by the Collection Agent to the Purchaser pursuant to the second
sentence of Section 6.02(b).

Section 1.02. Other Terms. All accounting terms not specifically defined herein shall be
construed in accordance with generally accepted accounting principles. All terms used in Article 9
of the UCC in the State of New York, and not specifically defined herein, are used herein as
defined in such Article 9.

ARTICLE II

AMOUNTS AND TERMS OF PURCHASES AND CONTRIBUTIONS

Section 2.01. Facility. On the terms and conditions hereinafter set forth and without
recourse to the Seller (except to the extent specifically provided herein), the Seller may at its
option sell or contribute to the Purchaser all Receivables originated by it (or originated by FPL
or Ferro Color and acquired by the Seller pursuant to the Purchase Agreement) from time to time and
the Purchaser may at its option purchase or accept as a contribution from the Seller all
Receivables originated or acquired by the Seller from time to time, in each case during the period
from the date hereof to the Facility Termination Date.

Section 2.02. Making Purchases.

(a) Initial Purchase. The Seller shall give the Purchaser at least one Business Day’s
notice of its request for the initial Purchase hereunder, which request shall specify the date of
such Purchase (which shall be a Business Day) and the proposed Purchase Price for such Purchase.
The Purchaser shall promptly notify the Seller whether it has determined to make such Purchase. On
the date of such Purchase, the Purchaser shall, upon satisfaction of the applicable conditions set
forth in Article III, pay the Purchase Price for such Purchase in the manner provided in
Section 2.02(c).

(b) Subsequent Purchases. On each Business Day following the initial Purchase, unless
the Seller or the Purchaser shall notify the other party to the contrary, the Seller shall sell to
the Purchaser and the Purchaser shall purchase from the Seller, upon satisfaction of the applicable
conditions set forth in Article III, all Receivables originated by the Seller (or originated by FPL
or Ferro Color and acquired by the Seller pursuant to the Purchase Agreement) which have not
previously been sold or contributed to the Purchaser; provided, however, that the
Seller may, at its option on any Purchase Date, contribute all or any of such Receivables to the
Purchaser pursuant to Section 2.06, instead of selling such Receivables to the Purchaser pursuant
to this Section 2.02(b). On or within five Business Days after the date of each such Purchase, the
Purchaser shall pay the Purchase Price for such Purchase in the manner provided in Section 2.02(c).

(c) Payment of Purchase Price. The Purchase Price for each Purchase shall be paid on
or within five Business Days after the Purchase Date therefor by means of any one or a combination
of the following: (i) a deposit in same day funds to the Seller’s account designated by the
Seller, (ii) an increase in the Deferred Purchase Price (subject at all times to the limitations
contained in the definition thereof), or (iii) a credit against interest and/or principal owed by
the Seller with respect to any Purchaser Loan. The allocation of the Purchase Price as among such
methods of payment shall be subject in each instance to the approval of the Purchaser and the
Seller; provided, however, that the Deferred Purchase Price may not be increased to
the extent that, after giving effect to such increase, the Tangible Net Worth would be less than
10.0% of the Outstanding Balance of the Transferred Receivables.

(d) Ownership of Receivables and Related Security. On each Purchase Date, after
giving effect to the Purchase (and any contribution of Receivables) on such date, the Purchaser
shall own all Receivables originated by the Seller (or originated by FPL or Ferro Color and
acquired by the Seller) as of such date (including Receivables which have been previously sold or
contributed to the Purchaser hereunder). The Purchase or contribution of any Receivable shall
include all Related Security with respect to such Receivable.

(e) Assignment of Receivables relating to Obligors located in Germany. In addition to
the transfer of ownership of Receivables stipulated above the Seller, subject to the satisfaction
of the conditions precedent set out in this Agreement hereby assigns by way of a German law
assignment (Abtretung) within the meaning of Section 398 German Civil Code (Bárgerliches
Gesetzbuch) to the Purchaser all Receivables (whether now existing or hereafter arising) owed to
the Seller by an Obligor located in Germany (the “German Obligor Receivables”). The
Purchaser accepts such assignment. The assignment of the German Obligor Receivables shall include
all ancillary rights, priority rights as well as all other rights attached to the German Obligor
Receivables.

Section 2.03. Collections. (a) Unless otherwise agreed in the Sale Agreement, the
Collection Agent shall, on each Settlement Date, deposit into an account of the Purchaser or the
Purchaser’s assignee all Collections of Transferred Receivables then held by the Collection Agent.

(b) In the event that the Seller believes that Collections which are not Collections of
Transferred Receivables have been deposited into an account of the Purchaser or the Purchaser’s
assignee, the Seller shall so advise the Purchaser and, on the Business Day following such
identification, the Purchaser shall remit, or shall cause to be remitted, all Collections so
deposited which are identified, to the Purchaser’s satisfaction, to be Collections of Receivables
which are not Transferred Receivables to the Seller.

(c) On each Settlement Date, the Purchaser shall pay to the Seller accrued interest on the
Deferred Purchase Price and the Purchaser may, at its option, prepay in whole or in part the
principal amount of the Deferred Purchase Price; provided that each such payment shall be made
solely from (i) Collections of Transferred Receivables after all other amounts then due from the
Purchaser under the Sale Agreement have been paid in full and all amounts then required to be set
aside by the Purchaser or the Collection Agent under the Sale Agreement have been so set aside or
(ii) excess cash flow from operations of the Purchaser which is not required to be applied to the
payment of other obligations of the Purchaser; and provided further, that no such payment shall be
made at any time when an Event of Termination shall have occurred and be continuing. At such time
following the Facility Termination Date when all Capital, Yield and other amounts owed by the
Purchaser under the Sale Agreement shall have been paid in full, the Purchaser shall apply, on each
Settlement Date, all Collections of Transferred Receivables received by the Purchaser pursuant to
Section 2.03(a) (and not previously distributed) first to the payment of accrued interest on the
Deferred Purchase Price, and then to the reduction of the principal amount of the Deferred Purchase
Price.

Section 2.04. Settlement Procedures. (a) If on any day the Outstanding Balance of any
Transferred Receivable is reduced or adjusted as a result of any defective, rejected, returned,
repossessed or foreclosed merchandise or services or any cash discount, discount for quick payment
or other adjustment made by the Seller, or any set-off or dispute in respect of any claim by the
Obligor thereof against the Seller (whether such claim arises out of the same or a related
transaction or an unrelated transaction but excluding adjustments, reductions or
cancellations in respect of such Obligor’s bankruptcy), the Seller shall be deemed to have received
on such day a Collection of such Transferred Receivable in the amount of such reduction or
adjustment. If the Seller is not the Collection Agent, the Seller shall pay to the Collection
Agent on or prior to the next Settlement Date all amounts deemed to have been received pursuant to
this subsection.

(b) Upon discovery by the Seller or the Purchaser of a breach of any of the representations
and warranties made by the Seller in Section 4.01(j) with respect to any Transferred Receivable,
such party shall give prompt written notice thereof to the other party, as soon as practicable and
in any event within three Business Days following such discovery. The Seller shall, upon not less
than two Business Days’ notice from the Purchaser or its assignee or designee, repurchase such
Transferred Receivable on the next succeeding Settlement Date for a repurchase price equal to the
Outstanding Balance of such Transferred Receivable. Each repurchase of a Transferred Receivable
shall include the Related Security with respect to such Transferred Receivable. The proceeds of
any such repurchase shall be deemed to be a Collection in respect of such Transferred Receivable.
If the Seller is not the Collection Agent, the Seller shall pay to the Collection Agent on or prior
to the next Settlement Date the repurchase price required to be paid pursuant to this subsection.

(c) Except as stated in subsection (a) or (b) of this Section 2.04 or as otherwise required by
law or the underlying Contract, all Collections from an Obligor of any Transferred Receivable shall
be applied to the Receivables of such Obligor in the order of the age of such Receivables, starting
with the oldest such Receivable, unless such Obligor designates its payment for application to
specific Receivables.

Section 2.05. Payments and Computations, Etc. (a) All amounts to be paid or deposited by
the Seller or the Collection Agent hereunder shall be paid or deposited no later than 11:00 A.M.
(New York City time) on the day when due in same day funds to an account or accounts designated by
the Purchaser from time to time, which accounts, during the existence of the Sale Agreement, shall
be those set forth in the Sale Agreement.

(b) The Seller shall, to the extent permitted by law, pay to the Purchaser interest on any
amount not paid or deposited by the Seller (whether as Collection Agent or otherwise) when due
hereunder at an interest rate per annum equal to 2.0% per annum above the Alternate Base Rate,
payable on demand.

(c) All computations of interest and all computations of fees hereunder shall be made on the
basis of a year of 360 days for the actual number of days (including the first but excluding the
last day) elapsed. Whenever any payment or deposit to be made hereunder shall be due on a day
other than a Business Day, such payment or deposit shall be made on the next succeeding Business
Day and such extension of time shall be included in the computation of such payment or deposit.

Section 2.06. Contributions. The Seller may from time to time at its option, by notice to
the Purchaser on or prior to the date of the proposed contribution, identify Receivables which it
proposes to contribute to the Purchaser as a capital contribution. On the date of each such
contribution and after giving effect thereto, the Purchaser shall own in fee simple the Receivables
so identified and contributed (collectively, the “Contributed Receivables”) and all Related
Security with respect thereto. The foregoing notwithstanding, on the date of the initial Purchase
hereunder the Seller agrees to contribute to the Purchaser all Receivables which are not included
in such initial Purchase.

ARTICLE III

CONDITIONS OF PURCHASES

Section 3.01. Conditions Precedent to Initial Purchase from the Seller. The initial
Purchase of Receivables from the Seller hereunder is subject to the conditions precedent that the
Purchaser shall have received on or before the date of such Purchase the following, each (unless
otherwise indicated) dated such date, in form and substance satisfactory to the Purchaser:

(a) Evidence that the Seller and each other Originator has taken any necessary
corporate action to authorize this Agreement and the Purchase Agreement and certified copies
of all documents evidencing other necessary corporate action and governmental approvals, if
any, with respect to this Agreement and the Purchase Agreement.

(b) A certificate of the Secretary or Assistant Secretary of the Seller and each other
Originator certifying the names and true signatures of the officers of the Seller and each
other Originator authorized to sign this Agreement and the other documents to be delivered
by it hereunder.

(c) Acknowledgment copies or time stamped receipt copies of proper financing
statements, duly filed on or before the date of the initial Purchase, naming each Originator
as the seller/debtor and the Purchaser as the purchaser/secured party, or other similar
instruments or documents, as the Purchaser may deem necessary or desirable under the UCC of
all appropriate jurisdictions or other applicable law to perfect the Purchaser’s ownership
of and security interest in the Transferred Receivables and Related Security and Collections
with respect thereto.

(d) Acknowledgment copies or time stamped receipt copies of proper financing
statements, if any, necessary to release all security interests and other rights of any
Person in the Transferred Receivables, Contracts or Related Security previously granted by
the Seller and each other Originator.

(e) Completed requests for information, dated on or before the date of such initial
Purchase, listing all effective financing statements filed in the jurisdictions referred to
in subsection (c) above that name the Seller or any other Originator as debtor, together
with copies of such other financing statements (none of which shall cover any Transferred
Receivables, Contracts or Related Security).

(f) [Intentionally omitted.]

(g) The Purchase Agreement, duly executed by each of the parties thereto.

Section 3.02. Conditions Precedent to All Purchases. Each Purchase (including the initial
Purchase) hereunder shall be subject to the further conditions precedent that:

(a) with respect to any such Purchase, on or prior to the date of such Purchase, the
Seller shall have delivered to the Purchaser, (i) if requested by the Purchaser, the
Seller’s General Trial Balance (which if in magnetic tape or diskette format shall be
compatible with the Purchaser’s computer equipment) as of a date not more than 31 days prior
to the date of such Purchase, and (ii) a written report identifying, among other things, the
Receivables to be included in such Purchase and such additional information concerning such
Receivables as may reasonably be requested by the Purchaser;

(b) with respect to any such Purchase, on or prior to the date of such Purchase, the
Collection Agent shall have delivered to the Purchaser, in form and substance satisfactory
to the Purchaser, a completed Monthly Report, Weekly Report or Daily Report for the most
recently ended reporting period for which information is required pursuant to
Section 6.02(b), and containing such additional information as may reasonably be requested
by the Purchaser;

(c) The Seller shall have marked its master data processing records and, at the request
of the Purchaser, each Contract giving rise to Purchased Receivables and all other relevant
records evidencing the Receivables which are the subject of such Purchase with a legend,
acceptable to the Purchaser, stating that such Receivables, the Related Security and
Collections with respect thereto, have been sold in accordance with this Agreement; and

(d) on the date of such Purchase the following statements shall be true (and the
Seller, by accepting the amount of such Purchase, shall be deemed to have certified that):

(i) The representations and warranties contained in Section 4.01 are correct on
and as of the date of such Purchase as though made on and as of such date (unless
stated to relate solely to an earlier date, in which case such representations and
warranties shall be correct as of such earlier date),

(ii) No event has occurred and is continuing, or would result from such
Purchase, that constitutes an Event of Termination or would constitute an Incipient
Event of Termination,

(iii) The Purchaser shall not have delivered to the Seller a notice that the
Purchaser shall not make any further Purchases hereunder, and

(iv) Each of FPL and Ferro Color shall have sold to the Seller all of such
Originator’s Receivables arising on or prior to such date; and

(e) the Purchaser shall have received such other approvals, opinions or documents as
the Purchaser may reasonably request.

ARTICLE IV

REPRESENTATIONS AND WARRANTIES

Section 4.01. Representations and Warranties of the Seller. The Seller represents and
warrants as follows:

(a) The Seller is a corporation duly incorporated, validly existing and in good
standing, under the laws of the applicable jurisdiction set forth in Exhibit F hereto (as
such Exhibit F may be amended from time to time pursuant to Section 5.01(b)) and is duly
qualified to do business, and is in good standing, in every jurisdiction where the nature of
its business requires it to be so qualified, unless the failure to so qualify would not have
a material adverse effect on (i) the interests of the Purchaser hereunder, (ii) the
collectibility of the Transferred Receivables, or (iii) the ability of the Seller or the
Collection Agent to perform their respective obligations hereunder.

(b) The execution, delivery and performance by the Seller of this Agreement and the
other documents to be delivered by it hereunder, including the Seller’s sale and
contribution of Receivables hereunder and the Seller’s use of the proceeds of Purchases,
(i) are within the Seller’s corporate powers, (ii) have been duly authorized by all
necessary corporate action, (iii) do not contravene (1) the Seller’s charter or by-laws,
(2) any law, rule or regulation applicable to the Seller, (3) any contractual restriction
binding on or affecting the Seller or its property or (4) any order, writ, judgment, award,
injunction or decree binding on or affecting the Seller or its property, and (iv) do not
result in or require the creation of any lien, security interest or other charge or
encumbrance upon or with respect to any of its properties (except for the transfer of the
Seller’s interest in the Transferred Receivables pursuant to this Agreement). This
Agreement has been duly executed and delivered by the Seller.

(c) No authorization or approval or other action by, and no notice to or filing with,
any governmental authority or regulatory body is required for the due execution, delivery
and performance by the Seller of this Agreement or any other document to be delivered by it
hereunder.

(d) This Agreement constitutes the legal, valid and binding obligation of the Seller
enforceable against the Seller in accordance with its terms.

(e) Sales and contributions made pursuant to this Agreement will constitute a valid
sale, transfer, and assignment of the Transferred Receivables to Purchaser, enforceable
against creditors of, and purchasers from, the Seller. The Seller shall have no remaining
property interest in any Transferred Receivable.

(f) The balance sheets of the Seller and its subsidiaries as at December 31, 2007, and
the related statements of income and retained earnings of the Seller and its subsidiaries
for the fiscal year then ended, copies of which have been furnished to the Purchaser, fairly
present the financial condition of the Seller and its subsidiaries as at such date and the
results of the operations of the Seller and its subsidiaries for the period ended on such
date, all in accordance with generally accepted accounting principles consistently applied,
and since December 31, 2007 there has been no material adverse change in the business,
operations, property or financial or other condition of the Seller.

(g) There is no pending or, to the Seller’s knowledge, threatened action, investigation
or proceeding affecting the Seller or any of its subsidiaries before any court, governmental
agency or arbitrator which may materially adversely affect the financial condition or
operations of the Seller and its consolidated subsidiaries, when taken as a whole, or the
ability of the Seller to perform its obligations under this Agreement or any other document
to be delivered by it hereunder, or which purports to affect the legality, validity or
enforceability of this Agreement or any other document to be delivered by it hereunder.

(h) No proceeds of any Purchase will be used to acquire any equity security of a class
which is registered pursuant to Section 12 of the Securities Exchange Act of 1934, provided
that this Section 4.01(h) shall not prohibit the Seller from purchasing stock of Ferro Color
or FPL in accordance with applicable law.

(i) No transaction contemplated hereby requires compliance with any bulk sales act or
similar law.

(j) Each Receivable purported to be sold by the Seller hereunder is an Eligible
Receivable (unless identified by the Seller as not an Eligible Receivable at the time of
sale and in each applicable Seller Report), and each such Receivable and each Transferred
Receivable, together with the Related Security, is owned (prior to its sale or contribution
hereunder) by the Seller free and clear of any Adverse Claim (other than any Adverse Claim
arising solely as the result of any action taken by the Purchaser). When Purchaser makes a
Purchase it shall acquire valid and perfected first priority ownership of each Purchased
Receivable and the Related Security and Collections with respect thereto free and clear of
any Adverse Claim (other than any Adverse Claim arising solely as the result of any action
taken by the Purchaser), and no effective financing statement or other instrument similar in
effect covering any Transferred Receivable, any interest therein, the Related Security or
Collections with respect thereto is on file in any recording office except such as may be
filed in favor of Purchaser in accordance with this Agreement, in favor of Seller in
accordance with the Purchase Agreement or in connection with any Adverse Claim arising
solely as the result of any action taken by the Purchaser.

(k) Each Seller Report (if prepared by the Seller, or to the extent that information
contained therein is supplied by the Seller), information, exhibit, financial statement,
document, book, record or report furnished or to be furnished at any time by the Seller to
the Purchaser in connection with this Agreement is or will be accurate in all material
respects as of its date or (except as otherwise disclosed to the Purchaser at such time) as
of the date so furnished, and no such document contains or will contain any untrue statement
of a material fact or omits or will omit to state a material fact necessary in order to make
the statements contained therein, in the light of the circumstances under which they were
made, not misleading.

(l) The principal place of business and chief executive office of the Seller and the
office where the Seller keeps its records concerning the Transferred Receivables are located
at the address referred to in Section 5.01(b). The Seller is located in the jurisdiction of
organization set forth in Exhibit F hereto for purposes of Section 9-307 of the UCC as in
effect in the State of New York; and the office in the jurisdiction of organization of the
Seller in which a UCC financing statement is required to be filed in order to perfect the
security interest granted by the Seller hereunder is set forth in Exhibit F hereto (in each
case as such Exhibit F may be amended from time to time pursuant to Section 5.01(b)).

(m) The names and addresses of all the Lock-Box Banks, together with the account
numbers of the Lock-Box Accounts at such Lock-Box Banks, are specified in Exhibit B (as the
same may be updated from time to time pursuant to Section 5.01(h)).

(n) The Seller is not known by and does not use any tradename or doing-business-as
name, other than, as set forth in Exhibit I hereto, as such Exhibit I may be amended from
time to time to remove any tradenames or doing-business-as names upon request of the Seller
with the prior written approval of the Purchaser.

(o) With respect to any programs used by the Seller in the servicing of the
Receivables, no sublicensing agreements are necessary in connection with the designation of
a new Collection Agent pursuant to Section 6.01(b) so that such new Collection Agent shall
have the benefit of such programs (it being understood that,
however, the Collection Agent, if other than the Seller, shall be required to be bound by a
confidentiality agreement reasonably acceptable to the Seller, Ferro Color and FPL).

(p) The transfers of Transferred Receivables by the Seller to the Purchaser pursuant to
this Agreement, and all other transactions between the Seller and the Purchaser, have been
and will be made in good faith and without intent to hinder, delay or defraud creditors of
the Seller.

(q) The Seller (directly and not, for the avoidance of doubt, by or through a
subsidiary thereof) has no office or place of business in the province of Quebec, Canada.

(r) The Seller (directly and not, for the avoidance of doubt, by or through a
subsidiary thereof) does not have, and since September 28, 2000 has not had (directly and
not, for the avoidance of doubt, by or through a subsidiary thereof), a place of business in
either the United Kingdom or Ireland.

(s) The Seller has (i) timely filed all federal tax returns required to be filed,
(ii) timely filed all other material state and local tax returns (other than with respect to
such state and local tax returns for the tax year 2005, which have been filed prior to the
date hereof) and (iii) paid or made adequate provision for the payment of all taxes,
assessments and other governmental charges (other than any tax, assessment or governmental
charge which is being contested in good faith and by proper proceedings, and with respect to
which the obligation to pay such amount is adequately reserved against in accordance with
generally accepted accounting principles).

ARTICLE V

COVENANTS

Section 5.01. Covenants of the Seller. From the date hereof until the first day following
the Facility Termination Date on which all of the Transferred Receivables are either collected in
full or become Defaulted Receivables:

(a) Compliance with Laws, Etc. The Seller will comply in all material respects
with all applicable laws, rules, regulations and orders and preserve and maintain its
corporate existence, rights, franchises, qualifications and privileges except to the extent
that the failure so to comply with such laws, rules and regulations or the failure so to
preserve and maintain such existence, rights, franchises, qualifications, and privileges
would not materially adversely affect the collectibility of the Transferred Receivables or
the ability of the Seller to perform its obligations under this Agreement.

(b) Offices, Records and Books of Account. The Seller will keep its principal
place of business and chief executive office and the office where it keeps its records
concerning the Transferred Receivables at the address of the Seller set forth under its name
on the signature page to this Agreement, or, upon 30 days’ prior written notice to the
Purchaser, at any other locations within the United States. The Seller will not change its
name or its state of organization, unless (i) the Seller shall have provided the Purchaser
with at least 30 days’ prior written notice thereof, together with an updated Exhibit F, and
(ii) no later than the effective date of such change, all actions required by
Section 5.01(j) shall have been taken and completed. Upon confirmation by the Purchaser’s
assignee during the existence of the Sale Agreement or, thereafter, the Purchaser of receipt
of any such notice (together with an updated Exhibit F) and the completion, as aforesaid, of
all actions required by Section 5.01(j), Exhibit F to this Agreement shall, without further
action by any party, be deemed to be amended and replaced by the updated Exhibit F
accompanying such notice. The Seller also will maintain and implement administrative and
operating procedures (including, without limitation, an ability to recreate records
evidencing Transferred Receivables and related Contracts in the event of the destruction of
the originals thereof), and keep and maintain all documents, books, records and other
information reasonably necessary or advisable for the collection of all Transferred
Receivables (including, without limitation, records adequate to permit the daily
identification of each new Transferred Receivable and all Collections of and adjustments to
each existing Transferred Receivable). The Seller shall make a notation in its books and
records, including its computer files, to indicate which Receivables have been sold or
contributed to the Purchaser hereunder.

(c) Performance and Compliance with Contracts and Credit and Collection Policy.
The Seller will, at its expense, timely and fully perform and comply with all material
provisions, covenants and other promises required to be observed by it under the Contracts
related to the Transferred Receivables, and timely and fully comply in all material respects
with the applicable Credit and Collection Policy in regard to each Transferred Receivable
and the related Contract.

(d) Sales, Liens, Etc. Except for the sales and contributions of Receivables
contemplated herein, the Seller will not sell, assign (by operation of law or otherwise) or
otherwise dispose of, or create or suffer to exist any Adverse Claim upon or with respect
to, any Transferred Receivable, Related Security, related Contract or Collections, or upon
or with respect to any account to which any Collections of any Transferred Receivable are
sent, or assign any right to receive income in respect thereof.

(e) Extension or Amendment of Transferred Receivables. Except as provided in
Section 6.02(c), the Seller will not extend, amend or otherwise modify the terms of any
Transferred Receivable, or amend, modify or waive any term or condition of any Contract
related thereto.

(f) Change in Business or Credit and Collection Policy. The Seller will not
make any change in the character of its business or in its Credit and Collection Policy that
would, in either case, materially adversely affect the collectibility of the Transferred
Receivables or the ability of the Seller to perform its obligations under this Agreement.

(g) Audits. The Seller will, from time to time during regular business hours
as requested by the Purchaser or its assigns, permit the Purchaser, or its agents,
representatives or assigns, (i) to examine and make copies of and abstracts from all books,
records and documents (including, without limitation, computer tapes and disks) in the
possession or under the control of the Seller relating to Transferred Receivables and the
Related Security, including, without limitation, the related Contracts, and (ii) to visit
the offices and properties of the Seller for the purpose of examining such materials
described in clause (i) above, and to discuss matters relating to Transferred Receivables
and the Related Security or the Seller’s performance hereunder or under the Contracts with
any of the officers or employees of the Seller having knowledge of such matters.

(h) Change in Payment Instructions to Obligors. The Seller will not add or
terminate any bank or bank account as a Lock-Box Bank or Lock-Box Account from those listed
in Exhibit B to this Agreement, or make any change in its instructions to Obligors regarding
payments to be made to any Lock-Box Bank unless the Purchaser shall have received notice of
such addition, termination or change (including an updated Exhibit B) and executed copies of
Lock-Box Agreements with each new Lock-Box Bank or with respect to each new Lock-Box
Account. Upon confirmation by the Agent, as the Purchaser’s assignee, of receipt of such
notice and the related documents, Exhibit B hereto shall, without further action by any
party be deemed to be amended and restated by the updated Exhibit B accompanying such
notice.

(i) Deposits to Lock-Box Accounts. The Seller will instruct (or will cause
each other Originator to instruct) all Obligors to remit all their payments in respect of
Transferred Receivables into Lock-Box Accounts. If the Seller shall receive any Collections
directly, it shall immediately (and in any event within two Business Days) deposit the same
to a Lock-Box Account. The Seller will not deposit or otherwise credit, or cause or permit
to be so deposited or credited, to any Lock-Box Account cash or cash proceeds other than
Collections of Transferred Receivables.

(j) Further Assurances. (i) The Seller agrees from time to time, at its
expense, promptly to execute and deliver all further instruments and documents, and to take
all further actions, that may be necessary or desirable, or that the Purchaser or its
assignee may reasonably request, to perfect, protect or more fully evidence the sale and
contribution of Receivables under this Agreement, or to enable the Purchaser or its assignee
to exercise and enforce its respective rights and remedies under this Agreement. Without
limiting the foregoing, the Seller will, upon the request of the Purchaser or its assignee,
(A) execute and file such financing or continuation statements, or amendments thereto, and
such other instruments and documents, that may be necessary or desirable to perfect, protect
or evidence such Transferred Receivables and any security interest in other assets of the
Seller granted hereunder; and (B) deliver to the Purchaser copies of all Contracts relating
to the Transferred Receivables and all records relating to such Contracts and the
Transferred Receivables, whether in hard copy or in magnetic tape or diskette format (which
if in magnetic tape or diskette format shall be compatible with the Purchaser’s computer
equipment).

(ii) The Seller authorizes the Purchaser or its assignee to file financing or
continuation statements, and amendments thereto and assignments thereof, relating to the
Transferred Receivables and the Related Security, the related Contracts and the Collections
with respect thereto and any other assets of the Seller in which a security interest is
granted hereunder.

(iii) The Seller shall perform its obligations under the Contracts related to the
Transferred Receivables to the same extent as if the Transferred Receivables had not been
sold or transferred.

(k) Reporting Requirements. The Seller will provide to the Purchaser (and its
assignees) the following:

(i) as soon as possible and in any event within five days after the occurrence
of each Event of Termination or Incipient Event of Termination, a statement of the
chief financial officer of the Seller setting forth details of such Event of
Termination or Incipient Event of Termination and the action that the Seller has
taken and proposes to take with respect thereto;

(ii) promptly after the filing or receiving thereof, copies of all reports and
notices that the Seller or any Affiliate files under ERISA with the Internal Revenue
Service or the Pension Benefit Guaranty Corporation or the U.S. Department of Labor
or that the Seller or any Affiliate receives from any of the foregoing or from any
multiemployer plan (within the meaning of Section 4001(a)(3) of ERISA) to which the
Seller or any Affiliate is or was, within the preceding five years, a contributing
employer, in each case in respect of the assessment of withdrawal liability or an
event or condition which could, in the aggregate, result in the imposition of
liability on the Seller and/or any such Affiliate in excess of $5,000,000;

(iii) at least 30 days prior to any change in the Seller’s name or jurisdiction
of incorporation, a notice setting forth the new name or jurisdiction of
incorporation and the effective date thereof;

(iv) promptly, and in any event within five Business Days of such event,
written notice of the Seller no longer being qualified to do business, or in good
standing, in any jurisdiction set forth in Exhibit F hereto (as such Exhibit F may
be amended from time to time pursuant to Section 5.01(b)) or any other
jurisdiction where the nature of its business requires it to be so qualified;

(v) [Intentionally omitted];

(vi) such other information respecting the Transferred Receivables or the
condition or operations, financial or otherwise, of the Seller as the Purchaser (or
its assignees) may from time to time reasonably request; and

(vii) any reports, notices, filings, financial information and any other
information or correspondence delivered to the Seller pursuant to the Purchase
Agreement.

(l) Separate Conduct of Business. The Seller will: (i) maintain separate
corporate records and books of account from those of the Purchaser; (ii) conduct its
business from an office separate from that of the Purchaser; (iii) ensure that all oral and
written communications, including without limitation, letters, invoices, purchase orders,
contracts, statements and applications, will be made solely in its own name; (iv) have
stationery and other business forms and a mailing address and a telephone number separate
from those of the Purchaser; (v) not hold itself out as having agreed to pay, or as being
liable for, the obligations of the Purchaser; (vi) not engage in any transaction with the
Purchaser except as contemplated by this Agreement or as permitted by the Sale Agreement;
(vii) continuously maintain as official records the resolutions, agreements and other
instruments underlying the transactions contemplated by this Agreement; and (viii) disclose
on its annual financial statements (A) the effects of the transactions contemplated by this
Agreement in accordance with generally accepted accounting principles and (B) that the
assets of the Purchaser are not available to pay its creditors.

(m) Foreign Offices. The Seller agrees that it will not take any action to
open a place of business in either the United Kingdom or Ireland without (i) providing the
Purchaser and its assignee with at least ten Business Days’ prior written notice, and
(ii) taking all actions that the Purchaser or its assignee may reasonably request pursuant
to Section 5.01(j) with respect to the laws of the United Kingdom or Ireland, as applicable.

(n) Purchase Agreement. The Seller will not amend, waive or modify any
provision of the Purchase Agreement (provided that the Seller may extend the
“Facility Termination Date” thereunder) or waive the occurrence of any “Event of
Termination” under the Purchase Agreement, without in each case the prior written consent of
the Purchaser and the Agent. The Seller will perform all of its obligations under the
Purchase Agreement in all material respects and will enforce the Purchase Agreement in
accordance with its terms in all material respects. The Seller will give the Purchaser at
least three Business Days’ prior notice of any revision to the calculation of “Discount” (as
defined in the Purchase Agreement), together with an explanation of the basis for such
revision.

(o) Orders and Agreements. The Seller agrees that all orders and/or agreements
regarding Receivables sent by the Seller will include a choice of law provision
substantially in the form attached hereto as Exhibit G identifying the law of a State as the
governing law.

Section 5.02. Grant of Security Interest. To secure all obligations of the Seller arising
in connection with this Agreement, and each other agreement entered into in connection with this
Agreement, whether now or hereafter existing, due or to become due, direct or indirect, or absolute
or contingent, including, without limitation, Indemnified Amounts, payments on account of
Collections received or deemed to be received, and any other amounts due the Purchaser hereunder,
the Seller hereby assigns and grants to Purchaser a security interest in all of the Seller’s right,
title and interest now or hereafter existing in, to and under (i) all Receivables which do not
constitute Transferred Receivables, the Related Security and all Collections with regard thereto,
and (ii) to the extent not covered above, all rights of the Seller to receive monies due or to
become due under the Purchase Agreement.

Section 5.03. Covenant of the Seller and the Purchaser. The Seller and the Purchaser have
structured this Agreement with the intention that each Purchase of Receivables hereunder be treated
as a sale of such Receivables by the Seller to the Purchaser for all purposes and each contribution
of Receivables hereunder shall be treated as an absolute transfer of such Receivables by the Seller
to the Purchaser for all purposes. The Seller and the Purchaser shall record each Purchase and
contribution as a sale or purchase or capital contribution, as the case may be, on its books and
records, and reflect each Purchase and contribution in its financial statements and tax returns as
a sale or purchase or capital contribution, as the case may be. In the event that, contrary to the
mutual intent of the Seller and the Purchaser, any Purchase or contribution of Receivables
hereunder is not characterized as a sale or absolute transfer, the Seller shall, effective as of
the date hereof, be deemed to have granted (and the Seller hereby does grant) to the Purchaser a
first priority security interest in and to any and all Receivables, the Related Security and the
proceeds thereof to secure the repayment of all amounts advanced to the Seller hereunder with
accrued interest thereon, and this Agreement shall be deemed to be a security agreement.

ARTICLE VI

ADMINISTRATION AND COLLECTION

Section 6.01. Designation of Collection Agent. The servicing, administration and
collection of the Transferred Receivables shall be conducted by such Person (the “Collection
Agent”) so designated hereunder from time to time. Until the RPA Final Payment Date, the
Seller (or such other Person as may be designated from time to time under the Sale Agreement) is
hereby designated as, and hereby agrees to perform the duties and obligations of, the Collection
Agent pursuant to the terms hereof. Following the RPA Final Payment Date, the Purchaser, by notice
to the Seller, may designate as Collection Agent any Person (including itself) to succeed the
Seller or any successor Collection Agent, if such Person shall consent and agree to the terms
hereof. Upon the Seller’s receipt of such notice, the Seller agrees that it will terminate its
activities as Collection Agent hereunder in a manner which the Purchaser (or its designee) believes
will facilitate the transition of the performance of such activities to the new Collection Agent,
and the Seller shall use its best efforts to assist the Purchaser (or its designee) to take over
the servicing, administration and collection of the Transferred Receivables, including, without
limitation, providing access to and copies of all computer tapes or disks and other documents or
instruments that evidence or relate to Transferred Receivables maintained in its capacity as
Collection Agent and access to all employees and officers of the Seller responsible with respect
thereto. The Collection Agent may, with the prior consent of the Purchaser, subcontract with any
other Person for the servicing, administration or collection of Transferred Receivables (and the
Purchaser, on behalf of itself and the Agent, hereby consents to the subcontracting of the
servicing, administration and collection of Transferred Receivables in accordance with Section 6.01
of the Purchase Agreement). Any such subcontract shall not affect the Collection Agent’s liability
for performance of its duties and obligations pursuant to the terms hereof, and any such
subcontract shall automatically terminate upon designation of a successor Collection Agent.

Section 6.02. Duties of Collection Agent. (a) The Collection Agent shall take or cause to
be taken all such actions as may be necessary or advisable to collect each Transferred Receivable
from time to time, all in accordance with applicable laws, rules and regulations, with reasonable
care and diligence, and in accordance with the applicable Credit and Collection Policy. The
Purchaser hereby appoints the Collection Agent, from time to time designated pursuant to
Section 6.01, as agent to enforce its ownership and other rights in the Transferred Receivables,
the Related Security and the Collections with respect thereto. In performing its duties as
Collection Agent, the Collection Agent shall exercise the same care and apply the same policies as
it would exercise and apply if it owned the Transferred Receivables and shall act in the best
interests of the Purchaser and its assignees.

(b) Prior to the tenth Business Day of each month, the Collection Agent shall prepare and
forward to the Purchaser (i) a Monthly Report, relating to all then outstanding Transferred
Receivables, and the Related Security and Collections with respect thereto, in each case, as of the
close of business of the Collection Agent on the last day of the immediately preceding month, and
(ii) if requested by the Purchaser, a listing by Obligor of all Transferred Receivables correlating
Purchased Receivables and Purchases, together with an aging report of such Transferred Receivables.
If a Non-Investment Grade Event (but no BB Downgrade Event other than the 2005 Downgrade Event or
the 2006 Downgrade Events) shall have occurred and be continuing, on or prior to the close of
business on the second Business Day of each Week, the Collection Agent shall prepare and forward to
the Purchaser or its assignee a Weekly Report which shall contain information related to the
Receivables current as of the close of business on the last Business Day of the preceding Week. If
a BB Downgrade Event (other than the 2005 Downgrade Event or the 2006 Downgrade Events) shall have
occurred and be continuing, by no later than 11:00 A.M. (New York City time) on each Business Day,
the Collection Agent shall prepare and forward to the Purchaser or its assignee a Daily Report
which shall contain information relating to the Receivables current as of the close of business on
the immediately prior Business Day.

(c) If no Event of Termination or Incipient Event of Termination shall have occurred and be
continuing, the Seller, while it is the Collection Agent, may, in accordance with the applicable
Credit and Collection Policy, extend the maturity or adjust the Outstanding Balance of any
Transferred Receivable as the Seller deems appropriate to maximize Collections thereof, or
otherwise amend or modify the terms of any Transferred Receivable.

(d) The Seller shall deliver to the Collection Agent, and the Collection Agent shall hold in
trust for the Seller and the Purchaser in accordance with their respective interests, all
documents, instruments and records (including, without limitation, computer tapes or disks) which
evidence or relate to Transferred Receivables.

(e) The Collection Agent shall as soon as practicable following receipt turn over to the
Seller any cash collections or other cash proceeds received with respect to Receivables not
constituting Transferred Receivables, less, in the event the Seller is not the Collection Agent,
all reasonable and appropriate out-of-pocket costs and expenses of the Collection Agent of
servicing, collecting and administering the Receivables to the extent not covered by the Collection
Agent Fee received by it.

(f) The Collection Agent also shall perform the other obligations of the “Collection Agent”
set forth in this Agreement with respect to the Transferred Receivables.

Section 6.03. Collection Agent Fee. (a) The Purchaser shall pay to the Collection Agent,
so long as it is acting as the Collection Agent hereunder, a periodic collection fee (the
“Collection Agent Fee”) of 0.50% per annum on the average daily aggregate Outstanding
Balance of the Transferred Receivables, payable on the tenth day of each month (or, if such day is
not a Business Day, the immediately succeeding Business Day) or such other day during each calendar
month as the Purchaser and the Collection Agent shall agree.

(b) Notwithstanding the foregoing, so long as Ferro Corporation acts (i) as the Collection
Agent hereunder, and (ii) as “Collection Agent” pursuant to the terms of the Purchase Agreement,
the portion of the amounts paid as the Collection Agent Fee pursuant to this Section 6.03 which are
attributable to Receivables originated by FPL or Ferro Color shall reduce, on a dollar-for-dollar
basis, the obligation of the Purchaser to pay the “Collection Agent Fee” pursuant to Section 6.03
of the Purchase Agreement, provided that such obligation of the Purchaser shall in no event be
reduced below zero.

Section 6.04. Certain Rights of the Purchaser. (a) The Purchaser may, at any time, give
notice of ownership and/or direct the Obligors of Transferred Receivables and any Person obligated
on any Related Security, or any of them, that payment of all amounts payable under any Transferred
Receivable shall be made directly to the Purchaser or its designee. The Seller hereby confirms the
transfer to the Purchaser (and its assigns and designees) pursuant to the Original PCA of the
exclusive ownership and control of each Lock-Box Account maintained by the Seller for the purpose
of receiving Collections.

(b) At any time following the designation of a Collection Agent other than the Seller pursuant
to Section 6.01 or following an Event Termination, a Non-Investment Grade Event (other than the
2005 Downgrade Event or the 2006 Downgrade Events) or an Incipient Event of Termination:

(i) The Seller shall, upon the Purchaser’s request and at the Seller’s expense,
give notice of the Purchaser’s ownership to each Obligor of Transferred Receivables
and direct that payments of all amounts payable under such Transferred Receivables
be made directly to the Purchaser or its designees or assignees.

(ii) At the Purchaser’s request and at the Seller’s expense, the Seller and the
Collection Agent shall (A) assemble all of the documents, instruments and other
records (including, without limitation, computer tapes and disks) that evidence or
relate to the Transferred Receivables, and the related Contracts and Related
Security, or that are otherwise necessary or desirable to collect the Transferred
Receivables, and shall make the same available to the Purchaser at a place selected
by the Purchaser or its designees or assignees, and (B) segregate all cash, checks
and other instruments received by it from time to time constituting Collections of
Transferred Receivables in a manner acceptable to the Purchaser and, promptly upon
receipt, remit all such cash, checks and instruments, duly indorsed or with duly
executed instruments of transfer, to the Purchaser or its designee or assignee. The
Purchaser shall also have the right to make copies of all such documents,
instruments and other records at any time.

(iii) The Seller authorizes the Purchaser to take any and all steps in the
Seller’s name and on behalf of the Seller that are necessary or desirable, in the
determination of the Purchaser, to collect amounts due under the Transferred
Receivables, including, without limitation, endorsing the Seller’s name on checks
and other instruments representing Collections of Transferred Receivables and
enforcing the Transferred Receivables and the Related Security and related
Contracts.

Section 6.05. Rights and Remedies. (a) If the Seller or the Collection Agent fails to
perform any of its obligations under this Agreement, the Purchaser or its assignees may (but shall
not be required to) itself perform, or cause performance of, such obligation, and, if the Seller
(as Collection Agent or otherwise) fails to so perform, the costs and expenses of the Purchaser
incurred in connection therewith shall be payable by the Seller as provided in Section 8.01 or
Section 9.04 as applicable.

(b) The Seller shall perform all of its obligations under the Contracts related to the
Transferred Receivables to the same extent as if the Seller had not sold or contributed Receivables
hereunder and the exercise by the Purchaser of its rights hereunder shall not relieve the Seller
from such obligations or its obligations with respect to the Transferred Receivables. The
Purchaser shall not have any obligation or liability with respect to any Transferred Receivables or
related Contracts, nor shall the Purchaser be obligated to perform any of the obligations of the
Seller thereunder.

(c) The Seller shall cooperate with the Collection Agent in collecting amounts due from
Obligors in respect of the Transferred Receivables.

(d) The Seller hereby grants to Collection Agent an irrevocable power of attorney, with full
power of substitution, coupled with an interest, to take in the name of the Seller all steps
necessary or advisable to endorse, negotiate or otherwise realize on any writing or other right of
any kind held or transmitted by the Seller or transmitted or received by Purchaser (whether or not
from the Seller) in connection with any Transferred Receivable.

Section 6.06. Transfer of Records to Purchaser. Each Purchase and contribution of
Receivables hereunder shall include the transfer to the Purchaser of all of the Seller’s right and
title to and interest in the records relating to such Receivables and shall include an irrevocable
non-exclusive license to the use of the Seller’s computer software system to access and create such
records. Such license shall be without royalty or payment of any kind, is coupled with an
interest, and shall be irrevocable until all of the Transferred Receivables are either collected in
full or become Defaulted Receivables.

The Seller shall take such action requested by the Purchaser, from time to time hereafter,
that may be necessary or appropriate to ensure that the Purchaser has an enforceable ownership
interest in the records relating to the Transferred Receivables and rights (whether by ownership,
license or sublicense) to the use of the Seller’s computer software system to access and create
such records.

In recognition of the Seller’s need to have access to the records transferred to the Purchaser
hereunder, the Purchaser hereby grants to the Seller an irrevocable license to access such records
in connection with any activity arising in the ordinary course of the Seller’s business or in
performance of its duties as Collection Agent, provided that (i) the Seller shall not disrupt or
otherwise interfere with the Purchaser’s use of and access to such records during such license
period and (ii) the Seller consents to the assignment and delivery of the records (including any
information contained therein relating to the Seller or its operations) to any assignees or
transferees of the Purchaser provided they agree to hold such records confidential.

ARTICLE VII

EVENTS OF TERMINATION

Section 7.01. Events of Termination. If any of the following events (“Events of
Termination”) shall occur and be continuing:

(a) The Collection Agent (if it is the Seller or any of its Affiliates) (i) shall fail
to perform or observe any term, covenant or agreement under this Agreement (other than as
referred to in clauses (ii), (iii), (iv) or (v) of this subsection (a)) and such failure
shall remain unremedied for five Business Days, or (ii) shall fail to make when due a
payment or deposit, if any, required to be made by it under this Agreement, or (iii) shall
fail to deliver any Monthly Report when due and such failure shall remain unremedied for
three Business Days, or (iv) shall fail to deliver any Weekly Report when due and such
failure shall remain unremedied for more than two Business Days, or (v) shall fail to
deliver any Daily Report when due and such failure shall remain unremedied for more than two
Business Days, or shall fail to deliver when due more than two Daily Reports in any calendar
week; or

(b) The Seller shall fail to transfer to the Purchaser when requested any rights,
pursuant to this Agreement, which the Seller then has as Collection Agent, or the Seller
shall fail to make a payment, if any, required under Section 2.04(a) or 2.04(b); or

(c) Any representation or warranty made or deemed made by the Seller (or any of its
officers) under or in connection with this Agreement or any information or report delivered
by the Seller pursuant to this Agreement shall prove to have been incorrect or untrue in any
material respect when made or deemed made or delivered; or

(d) The Seller shall fail to perform or observe any other term, covenant or agreement
contained in this Agreement on its part to be performed or observed and any such failure
shall remain unremedied for 10 days after written notice thereof shall have been given to
the Seller by the Purchaser; or

(e) The Seller or any of the other Originators shall fail to pay any principal of or
premium or interest on any of its Debt which is outstanding in a principal amount of at
least $5,000,000 in the aggregate when the same becomes due and payable (whether by
scheduled maturity, required prepayment, acceleration, demand or otherwise), and such
failure shall continue after the applicable grace period, if any, specified in the agreement
or instrument relating to such Debt; or any other event shall occur or condition shall exist
under any agreement or instrument relating to any such Debt and shall continue after the
applicable grace period, if any, specified in such agreement or instrument, if the effect of
such event or condition is to accelerate, or to permit the acceleration of, the maturity of
such Debt; or any such Debt shall be declared to be due and payable, or required to be
prepaid (other than by a regularly scheduled required prepayment), redeemed, purchased or
defeased, or an offer to repay, redeem, purchase or defease such Debt shall be required to
be made, in each case prior to the stated maturity thereof; or

(f) Any Purchase or contribution of Receivables hereunder, the Related Security and the
Collections with respect thereto shall for any reason cease to constitute valid and
perfected ownership of such Receivables, Related Security and Collections free and clear of
any Adverse Claim; or

(g) The Seller or any of the other Originators shall generally not pay its debts as
such debts become due, or shall admit in writing its inability to pay its debts generally,
or shall make a general assignment for the benefit of creditors; or any proceeding shall be
instituted by or against the Seller or any of the other Originators seeking to adjudicate it
a bankrupt or insolvent, or seeking liquidation, winding up, reorganization, arrangement,
adjustment, protection, relief, or composition of it or its debts under any law relating to
bankruptcy, insolvency or reorganization or relief of debtors, or seeking the entry of an
order for relief or the appointment of a receiver, trustee, custodian or other similar
official for it or for any substantial part of its property and, in the case of any such
proceeding instituted against it (but not instituted by it), either such proceeding shall
remain undismissed or unstayed for a period of 30 days, or any of the actions sought in such
proceeding (including, without limitation, the entry of an order for relief against, or the
appointment of a receiver, trustee, custodian or other similar official for, it or for any
substantial part of its property) shall occur; or the Seller or any of its subsidiaries
shall take any corporate action to authorize any of the actions set forth above in this
subsection (g); or

(h) an Event of Termination shall have occurred under the Sale Agreement or the
Purchase Agreement; or

(i) There shall have occurred any material adverse change in the financial condition or
operations of the Seller since December 31, 2006; or there shall have occurred any event
which may materially adversely affect the collectibility of the Transferred Receivables or
the ability of the Seller to collect Transferred Receivables or otherwise perform its
obligations under this Agreement; the Purchaser hereby acknowledges that in the event the
capital stock of the Seller is no longer listed for trading on the New York Stock Exchange
(a “Delisting”), such Delisting shall not, in and of itself and excluding the
circumstances leading to such Delisting or resulting therefrom, constitute a material
adverse change in the business, operations, property or financial or other condition of the
Seller;

then, and in any such event, the Purchaser or its assignees may, by notice to the Seller, take
either or both of the following actions: (x) declare the Facility Termination Date to have
occurred (in which case the Facility Termination Date shall be deemed to have occurred) and
(y) without limiting any right under this Agreement to replace the Collection Agent (but subject,
prior to the RPA Final Payment Date, to the designation made under the Sale Agreement), designate
another Person to succeed the Seller as Collection Agent; provided, that, automatically
upon the occurrence of any event (without any requirement for the passage of time or the giving of
notice) described in paragraph (g) of this Section 7.01, the Facility Termination Date shall occur,
the Seller (if it is then serving as the Collection Agent) shall cease to be the Collection Agent,
and the Purchaser (or its assigns or designees) shall become the Collection Agent. Upon any such
declaration or designation or upon such automatic termination, the Purchaser or its assignees shall
have, in addition to the rights and remedies under this Agreement, all other rights and remedies
with respect to the Receivables provided after default under the UCC and under other applicable
law, which rights and remedies shall be cumulative.

ARTICLE VIII

INDEMNIFICATION

Section 8.01. Indemnities by the Seller. Without limiting any other rights which the
Purchaser may have hereunder or under applicable law, the Seller hereby agrees to indemnify the
Purchaser and its assigns and transferees (each, an “Indemnified Party”) from and
against any and all damages, claims, losses, liabilities and related costs and expenses, including
reasonable attorneys’ fees and disbursements (all of the foregoing being collectively referred to
as “Indemnified Amounts”), awarded against or incurred by any Indemnified Party arising out
of or as a result of this Agreement or the purchase or contribution of any Transferred Receivables
from the Seller hereunder or in respect of any Transferred Receivable transferred by the Seller
hereunder or any related Contract, including, without limitation, arising out of or as a result of:

(i) the inclusion, or purported inclusion, in any Purchase of any Receivable that is
not an Eligible Receivable on the date of such Purchase, or the characterization in any
Seller Report or other statement made by the Seller of any Transferred Receivable as an
Eligible Receivable which is not an Eligible Receivable as of the date of such Seller Report
or statement;

(ii) any representation or warranty or statement made or deemed made by the Seller (or
any of its officers) under or in connection with this Agreement, which shall have been
incorrect in any material respect when made;

(iii) the failure by the Seller to comply with any applicable law, rule or regulation
with respect to any Transferred Receivable or the related Contract; or the failure of any
Transferred Receivable transferred by the Seller hereunder or the related Contract to
conform to any such applicable law, rule or regulation;

(iv) the failure to vest in the Purchaser absolute ownership of the Receivables that
are, or that purport to be, the subject of a Purchase or contribution under this Agreement
and the Related Security and Collections in respect thereof, free and clear of any Adverse
Claim;

(v) the failure of the Seller to have filed, or any delay in filing, financing
statements or other similar instruments or documents under the UCC of any applicable
jurisdiction or other applicable laws with respect to any Receivables that are, or that
purport to be, the subject of a Purchase or contribution under this Agreement and the
Related Security and Collections in respect thereof, whether at the time of any Purchase or
contribution or at any subsequent time;

(vi) any dispute, claim, offset or defense (other than discharge in bankruptcy of the
Obligor) of the Obligor to the payment of any Receivable originated by the Seller that is,
or that purports to be, the subject of a Purchase or contribution under this Agreement
(including, without limitation, a defense based on such Receivable or the related Contract
not being a legal, valid and binding obligation of such Obligor enforceable against it in
accordance with its terms), or any other claim resulting from the sale of the merchandise or
services related to such Receivable or the furnishing or failure to furnish such merchandise
or services or relating to collection activities with respect to such Receivable (if such
collection activities were performed by the Seller acting as Collection Agent);

(vii) any failure of the Seller, as Collection Agent or otherwise, to perform its
duties or obligations in accordance with the provisions hereof or to perform its duties or
obligations under any Contract related to a Transferred Receivable originated by the Seller;

(viii) any products liability or other claim arising out of or in connection with
merchandise, insurance or services which are the subject of any Contract;

(ix) the commingling of Collections of Transferred Receivables by the Seller or a
designee of the Seller, as Collection Agent or otherwise, at any time with other funds of
the Seller or an Affiliate of the Seller;

(x) any investigation, litigation or proceeding related to this Agreement or the use of
proceeds of Purchases or the ownership of Receivables, the Related Security, or Collections
with respect thereto or in respect of any Receivable, Related Security or Contract;

(xi) any failure of the Seller to comply with its covenants contained in this
Agreement;

(xii) any Collection Agent Fees or other costs and expenses payable to any replacement
Collection Agent;

(xiii) any claim brought by any Person other than an Indemnified Party arising from any
activity by the Seller or any Affiliate of the Seller in servicing, administering or
collecting any Transferred Receivable; or

(xiv) any Dilution with respect to any Transferred Receivable.

It is expressly agreed and understood by the parties hereto (i) that the foregoing indemnification
is not intended to, and shall not, constitute a guarantee of the collectibility or payment of the
Transferred Receivables and (ii) that nothing in this Section 8.01 shall require the Seller to
indemnify any Person (A) for Receivables which are not collected, not paid or uncollectible on
account of the insolvency, bankruptcy, or financial inability to pay of the applicable Obligor,
(B) for damages, losses, claims or liabilities or related costs or expenses to the extent found in
a final non-appealable judgment of a court of competent jurisdiction to have resulted from such
Person’s gross negligence or willful misconduct, or (C) for any income taxes or franchise taxes
incurred by such Person arising out of or as a result of this Agreement or in respect of any
Transferred Receivable or any Contract.

ARTICLE IX

MISCELLANEOUS

Section 9.01. Amendments, Etc. No amendment or waiver of any provision of this Agreement
or consent to any departure by the Seller therefrom shall be effective unless in a writing signed
by the Purchaser and, in the case of any amendment, also signed by the Seller, and then such
amendment, 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 Purchaser to exercise, and no delay in
exercising, any right hereunder shall operate as a waiver thereof; nor shall any single or partial
exercise of any right hereunder preclude any other or further exercise thereof or the exercise of
any other right. Notwithstanding any other provision of this Section 9.01, Exhibit F hereto may be
amended in accordance with the procedures set forth in Section 5.01(b).

Section 9.02. Notices, Etc. All notices and other communications hereunder shall, unless
otherwise stated herein, be in writing (which shall include facsimile communication) and be faxed
or delivered, to each party hereto, at its address set forth under its name on the signature pages
hereof or at such other address as shall be designated by such party in a written notice to the
other parties hereto. Notices and communications by facsimile shall be effective when sent (and
shall be followed by hard copy sent by regular mail), and notices and communications sent by other
means shall be effective when received.

Section 9.03. Binding Effect; Assignability. (a) This Agreement shall be binding upon and
inure to the benefit of the Seller, the Purchaser and their respective successors and assigns;
provided, however, that the Seller may not assign its rights or obligations
hereunder or any interest herein without the prior written consent of the Purchaser. In connection
with any sale or assignment by the Purchaser of all or a portion of the Transferred Receivables,
the buyer or assignee, as the case may be, shall, to the extent of its purchase or assignment, have
all rights of the Purchaser under this Agreement (as if such buyer or assignee, as the case may be,
were the Purchaser hereunder) except to the extent specifically provided in the agreement between
the Purchaser and such buyer or assignee, as the case may be.

(b) This Agreement shall create and constitute the continuing obligations of the parties
hereto in accordance with its terms, and shall remain in full force and effect until such time,
after the Facility Termination Date, when all of the Transferred Receivables are either collected
in full or become Defaulted Receivables; provided, however, that rights and
remedies with respect to any breach of any representation and warranty made by the Seller pursuant
to Article IV and the provisions of Article VIII and Sections 9.04, 9.05 and 9.06 shall be
continuing and shall survive any termination of this Agreement.

Section 9.04. Costs, Expenses and Taxes. (a) In addition to the rights of indemnification
granted to the Purchaser pursuant to Article VIII hereof, the Seller agrees to pay on demand all
costs and expenses in connection with the preparation, execution and delivery of this Agreement and
the other documents and agreements to be delivered hereunder, including, without limitation, the
reasonable fees and out-of-pocket expenses of counsel for the Purchaser with respect thereto and
with respect to advising the Purchaser as to its rights and remedies under this Agreement, and the
Seller agrees to pay all costs and expenses, if any (including reasonable counsel fees and
expenses), in connection with the enforcement of this Agreement and the other documents to be
delivered hereunder excluding, however, any costs of enforcement or collection of
Transferred Receivables which are not paid on account of the insolvency, bankruptcy or financial
inability to pay of the applicable Obligor.

(b) In addition, the Seller agrees to pay any and all stamp and other taxes and fees payable
in connection with the execution, delivery, filing and recording of this Agreement or the other
documents or agreements to be delivered hereunder, and the Seller agrees to save each Indemnified
Party harmless from and against any liabilities with respect to or resulting from any delay in
paying or omission to pay such taxes and fees.

Section 9.05. No Proceedings. The Seller hereby agrees that it will not institute
against the Purchaser any proceeding of the type referred to in Section 7.01(g) so long as there
shall not have elapsed one year plus one day since the later of (i) the Facility Termination Date
and (ii) the date on which all of the Transferred Receivables are either collected in full or
become Defaulted Receivables.

Section 9.06. Confidentiality. Each party hereto agrees to maintain the confidentiality of
this Agreement in communications with third parties and otherwise; provided that this
Agreement may be disclosed (i) to third parties to the extent such disclosure is made pursuant to a
written agreement of confidentiality in form and substance reasonably satisfactory to the other
party hereto, and (ii) to such party’s legal counsel and auditors and the Purchaser’s assignees, if
they agree in each case to hold it confidential and (iii) to the extent required by applicable law
or regulation or by any court, regulatory body or agency having jurisdiction over such party
(including, without limitation, the filing of this Agreement with the SEC as an exhibit to an
annual or quarterly report under the Securities Exchange Act of 1934); and provided,
further, that such party shall have no obligation of confidentiality in respect of any
information which may be generally available to the public or becomes available to the public
through no fault of such party.

Section 9.07. GOVERNING LAW. THIS AGREEMENT, IN ACCORDANCE WITH SECTION 5-1401 OF THE
GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO ANY CONFLICT OF LAWS PRINCIPLES THEREOF
THAT WOULD CALL FOR THE APPLICATION OF THE LAWS OF ANY OTHER JURISDICTION, EXCEPT TO THE EXTENT
THAT, PURSUANT TO THE UCC OF THE STATE OF NEW YORK, THE PERFECTION AND THE EFFECT OF PERFECTION OR
NON-PERFECTION OF THE PURCHASER’S OWNERSHIP OF OR SECURITY INTEREST IN THE RECEIVABLES ARE GOVERNED
BY THE LAWS OF A JURISDICTION OTHER THAN THE STATE OF NEW YORK; PROVIDED, HOWEVER, THAT
SECTION 2.02(e) SHALL BE GOVERNED BY THE LAWS OF THE FEDERAL REPUBLIC OF GERMANY.

Section 9.08. Third Party Beneficiary. Each of the parties hereto hereby acknowledges that
the Purchaser may assign all or any portion of its rights under this Agreement and that such
assignees may (except as otherwise agreed to by such assignees) further assign their rights under
this Agreement, and the Seller hereby consents to any such assignments. All such assignees,
including parties to the Sale Agreement in the case of assignment to such parties, shall be third
party beneficiaries of, and shall be entitled to enforce the Purchaser’s rights and remedies under,
this Agreement to the same extent as if they were parties thereto, except to the extent
specifically limited under the terms of their assignment.

Section 9.09. 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
when taken together shall constitute one and the same agreement.

Section 9.10. Judgment. (a) If for the purposes of obtaining judgment in any court it is
necessary to convert a sum due hereunder in U.S. Dollars into another currency, the parties hereto
agree, to the fullest extent that they may effectively do so, that the rate of exchange used shall
be that at which in accordance with normal banking procedures the Purchaser could purchase U.S.
Dollars with such other currency at New York, New York on the Business Day preceding that on which
final judgment is given.

(b) The obligation of the Seller in respect of any sum due from it to the Purchaser hereunder
shall, notwithstanding any judgment in a currency other than U.S. Dollars, be discharged only to
the extent that on the Business Day following receipt by the Purchaser of any sum adjudged to be so
due in such other currency the Purchaser may in accordance with normal banking procedures purchase
U.S. Dollars with such other currency; if the U.S. Dollars so purchased are less than the sum
originally due to the Purchaser in U.S. Dollars, the Seller agrees, as a separate obligation and
notwithstanding any such judgment, to indemnify the Purchaser against such loss, and if the U.S.
Dollars so purchased exceed the sum originally due to the Purchaser in U.S. Dollars, the Purchaser
shall remit to the Seller such excess.

Section 9.11. Acknowledgment. Each of the parties hereto acknowledges and agrees that the
amendment and restatement of the Original PCA on the terms and conditions set forth herein shall
not in any way affect any sales, contributions, transfers, assignments or security interest grants
effected pursuant to the Original PCA or any representations, warranties, covenants or indemnities
made by the Seller or Ferro Electronic Materials Inc. with respect to such sales, contributions,
transfers, assignments or security interest grants or any rights or remedies of the Purchaser or
its assignees with respect thereto. Each of the parties hereto confirms all sales, contributions,
transfers, assignments and security interests effected pursuant to the Original PCA.

[Remainder of page intentionally left blank]

3

IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their
respective officers thereunto duly authorized, as of the date first above written.

	 	 	 	 	 
	SELLER:	 	FERRO CORPORATION
	
 
	 	By:
	 	/s/ Cynthia M. Kerker
	
 
	 	 	 	 
	
 
	 	 	 	Name: Cynthia M. Kerker

Title: Treasurer

	1000	 	Lakeside Avenue

Cleveland, OH 44114

Attention: Treasurer

Facsimile No.: (216) 875-7237

	 	 	 	 	 
	PURCHASER:	 	FERRO FINANCE CORPORATION
	
 
	 	By:
	 	/s/ Karen Larsen
	
 
	 	 	 	 
	 	 	Name:Karen Larsen
	
 
	 	Title:
	 	Assistant Treasurer

	1789	 	Transelco Drive, Suite A

Pen Yan, NY 14527

Attention: Secretary

Facsimile No.: (315) 536-3826

4

Pursuant to Section 5.01(m) of that certain
Receivables Purchase Agreement dated as of June 29,
2006, among the Purchaser, as seller, CAFCO, LLC, as
investor, Citibank, N.A., as a bank, Citicorp North
America, Inc., as agent, Ferro Electronic Materials
Inc., as an originator, and Ferro Corporation, as
collection agent and an originator, the undersigned
consents to the foregoing amendment and restatement
of the Original PCA.

CITICORP NORTH AMERICA, INC.,

as Agent

By: /s/ Junette M. Earl

Name: Junette M. Earl

Title: Vice President

5

EXHIBIT A

CREDIT AND COLLECTION POLICY

6

EXHIBIT B

LOCK-BOX BANKS

7

EXHIBIT C

FORM OF

DEFERRED PURCHASE PRICE NOTE

New York, New York

September 28, 2000

FOR VALUE RECEIVED, FERRO FINANCE CORPORATION, an Ohio corporation (the “Purchaser”),
hereby promises to pay to FERRO CORPORATION (the “Seller”) the principal amount of this
Note, determined as described below, together with interest thereon at a rate per annum equal at
all times to 1.50% per annum above the Eurodollar Rate (as defined in the Sale Agreement) for
periods of one month, compounded annually, in each case in lawful money of the United States of
America. Capitalized terms used herein but not defined herein shall have the meanings assigned to
such terms in the Amended and Restated Purchase and Contribution Agreement dated as of April 1 2008
between the Seller and the Purchaser (such agreement, as it may from time to time be amended,
restated or otherwise modified in accordance with its terms, the “Purchase and Contribution
Agreement”). This Note is the note referred to in the definition of “Deferred Purchase Price”
in the Purchase and Contribution Agreement.

The aggregate principal amount of this Note at any time shall be equal to the difference
between (a) the sum of the aggregate principal amount of this Note on the date of the issuance
hereof and each addition to the principal amount of this Note pursuant to the terms of Section 2.02
of the Purchase and Contribution Agreement minus (b) the aggregate amount of all payments made in
respect of the principal amount of this Note, in each case, as recorded on the schedule annexed to
and constituting a part of this Note, but failure to so record shall not affect the obligations of
the Purchaser to the Seller.

The entire principal amount of this Note shall be due and payable one year and one day after
the Facility Termination Date or such later date as may be agreed in writing by the Seller and the
Purchaser. The principal amount of this Note may, at the option of the Purchaser, be prepaid in
whole at any time or in part from time to time. Interest on this Note shall be paid in arrears on
each Settlement Date, at maturity and thereafter on demand. All payments hereunder shall be made
by wire transfer of immediately available funds to such account of the Seller as the Seller may
designate in writing.

Notwithstanding any other provisions contained in this Note, in no event shall the rate of
interest payable by the Purchaser under this Note exceed the highest rate of interest permissible
under applicable law.

The obligations of the Purchaser under this Deferred Purchase Price Note are subordinated in
right of payment, to the extent set forth in Section 2.03(c) of the Purchase and Contribution
Agreement, to the prior payment in full of all Capital, Yield, Fees and other obligations of the
Purchaser under the Sale Agreement.

Notwithstanding any provision to the contrary in this Deferred Purchase Price Note or
elsewhere, other than with respect to payments specifically permitted by Section 2.03(c) of the
Purchase and Contribution Agreement, no demand for any payment may be made hereunder, no payment
shall be due with respect hereto and the Seller shall have no claim for any payment hereunder prior
to the occurrence of the Facility Termination Date and then only on the date, if ever, when all
Capital, Yield, Fees and other obligations owing under the Sale Agreement shall have been paid in
full.

In the event that, notwithstanding the foregoing provision limiting such payment, the Seller
shall receive any payment or distribution on this Deferred Purchase Price Note which is not
specifically permitted by Section 2.03(c) of the Purchase and Contribution Agreement, such payment
shall be received and held in trust by the Seller for the benefit of the entities to whom the
obligations are owed under the Sale Agreement and shall be promptly paid over to such entities.

The Purchaser hereby waives diligence, presentment, demand, protest and notice of any kind
whatsoever.

Neither this Note, nor any right of the Seller to receive payments hereunder, shall, without
the prior written consent of the Purchaser and (so long as the Sale Agreement remains in effect or
any amounts remain outstanding thereunder) the Agent under the Sale Agreement, be assigned,
transferred, exchanged, pledged, hypothecated, participated or otherwise conveyed.

8

THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW
YORK.

	 	 	 
	FERRO FINANCE CORPORATION

	By:

	 	                                         
	
 
	 	 
	
 
	 	Title: Treasurer

9

SCHEDULE TO DEFERRED PURCHASE PRICE NOTE

	 	 	 	 	 	 	 	 	 
	Date

	 	Addition to

Principal Amount
	 	Amount of Principal

Paid or Prepaid
	 	Unpaid Principal

Balance
	 	

Notation Made By
	 

	 	 
	 	 
	 	 
	 	 

10

EXHIBIT D

FORM OF PURCHASER LOAN NOTE

New York, New York

$5,000,000                         , 200     

FOR VALUE RECEIVED, FERRO CORPORATION, an Ohio corporation (the “Company”), hereby
promises to pay to FERRO FINANCE CORPORATION (the “Lender”), no later than twelve (12)
months from the date hereof or on demand if sooner made, the principal sum of      Dollars
(or such lesser amount as shall equal the aggregate unpaid principal amount of the Purchaser Loans
made by the Lender to the Company under the Purchase and Contribution Agreement referred to below),
and to pay on each Settlement Date interest on the unpaid principal amount of the Purchaser Loans
at a rate per annum equal at all times to 1% per annum above the Eurodollar Rate (as defined in the
Sale Agreement) for periods of one month, in each case in lawful money of the United States of
America and in immediately available funds.

The date and amount of each Purchaser Loan made by the Lender to the Company from the date
hereof until the repayment of all sums due hereunder, and each payment made on account of the
principal thereof, shall be recorded by the Lender on its books and, prior to any transfer of this
Note, endorsed by the Lender on the schedule attached hereto or any continuation thereof.

This Note is one of the Purchaser Loan Notes referred to in the Amended and Restated Purchase
and Contribution Agreement (as amended, restated or otherwise modified from time to time, the
“Purchase and Contribution Agreement”) dated as of April 1 2008 among the Company and the
Lender, and evidences Purchaser Loans made by the Lender thereunder. Capitalized terms used in
this Note and not defined herein have the respective meanings assigned to them in the Purchase and
Contribution Agreement.

The principal amount of this Note may, at the option of the Company, be prepaid in whole at
any time or in part from time to time.

Notwithstanding any other provisions contained in this Note, in no event shall the rate of
interest payable by the Company under this Note exceed the highest rate of interest permissible
under applicable law.

The Company hereby waives diligence, presentment, demand, protest and notice of any kind
whatsoever with respect to this Note.

In the event the Lender shall refer this Note to an attorney for collection, the Company
agrees to pay, in addition to unpaid principal and interest, all the costs and expenses incurred in
attempting or effecting collection hereunder, including reasonable attorney’s fees, whether or not
suit is instituted.

THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW
YORK.

FERRO CORPORATION

By:     

Name:

Title:

11

SCHEDULE TO PURCHASER LOAN NOTE

	 	 	 	 	 	 	 	 	 
	Date

	 	Amount of Purchaser

Loan
	 	Amount of Principal

Paid or Prepaid
	 	Unpaid Principal

Balance
	 	

Notation Made By
	 

	 	 
	 	 
	 	 
	 	 

12

EXHIBIT E-1

Approved OECD Countries

	 	1.	 	United Kingdom

	 	2.	 	Germany

	 	3.	 	Netherlands

	 	4.	 	Ireland

	 	5.	 	Belgium

	 	6.	 	France

	 	7.	 	Italy

	 	8.	 	Australia

	 	9.	 	Japan

	 	10.	 	Austria

	 	11.	 	Switzerland

	 	12.	 	Sweden

	 	13.	 	Spain

	 	14.	 	New Zealand

	 	15.	 	Norway

	 	16.	 	Denmark

13

EXHIBIT E-2

Other Approved Jurisdictions

	 	1.	 	South Korea

	 	2.	 	Mexico

	 	3.	 	Hungary

	 	4.	 	Czech Republic

	 	5.	 	Taiwan

	 	6.	 	Israel

	 	7.	 	Hong Kong

	 	8.	 	Singapore

	 	9.	 	Malaysia

	 	10.	 	Slovenia

14

EXHIBIT F

SELLER UCC INFORMATION

Name: Ferro Corporation

Jurisdiction of Organization: Ohio

UCC Filing Office: Ohio Secretary of State

15

EXHIBIT G

FORM OF CHOICE OF LAW PROVISION IN SELLER’S ORDERS

AND OTHER AGREEMENTS

“Governing Law. This contract shall be governed and construed in accordance with the laws
of the [insert one of the fifty states of the United States or the District of Columbia], without
application of its choice of law rules.”

16

EXHIBIT H

17

[Reserved]

EXHIBIT I

TRADENAMES OR DOING-BUSINESS-AS NAMES

Ferro Ceramics Inc. (Texas)

003554, 000006, 102177276

18

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