Document:

Credit Agreement dated as of August 13, 2003

 Exhibit 10.2 
  

  
 $435,000,000 
  
 CREDIT AGREEMENT 
  
 Among 
  
 CONCENTRA INC., 
 as Holdings, 
  
 CONCENTRA OPERATING CORPORATION,

 as Borrower, 
  
 The Several Lenders 
 from Time to Time Parties
Hereto, 
  
 JPMORGAN CHASE BANK, 
 as Administrative Agent, 
  
 DEUTSCHE BANC ALEX BROWN 
 as Documentation
Agent, 
  
 and 
  
 CITICORP NORTH AMERICA, INC. 
 and 
 CREDIT SUISSE FIRST BOSTON 
 as Co-Syndication Agents 
  
 Dated as of August 13, 2003 
  

  
 J.P. MORGAN SECURITIES INC., 
 as Lead Arranger and Sole Book Manager 
 and

 CREDIT SUISSE FIRST BOSTON 
 and

 CITIGROUP GLOBAL MARKETS INC., 
 as Co-Arrangers 

 TABLE OF CONTENTS 
  

	 	 	 	  	Page

	 SECTION 1.
	 	 DEFINITIONS
	  	1
			
	 1.1  
	 	 Defined Terms
	  	1
	 1.2  
	 	 Other Definitional Provisions
	  	24
			
	 SECTION 2.
	 	 AMOUNT AND TERMS OF COMMITMENTS
	  	24
			
	 2.1  
	 	 Term Commitments
	  	24
	 2.2  
	 	 Procedure for Term Loan Borrowing
	  	25
	 2.3  
	 	 Repayment of Term Loans
	  	25
	 2.4  
	 	 Revolving Commitments
	  	26
	 2.5  
	 	 Procedure for Revolving Loan Borrowing
	  	26
	 2.6  
	 	 Commitment Fees, etc.
	  	26
	 2.7  
	 	 Termination or Reduction of Revolving Commitments
	  	27
	 2.8  
	 	 Optional Prepayments
	  	27
	 2.9  
	 	 Mandatory Prepayments and Commitment Reductions
	  	27
	 2.10
	 	 Conversion and Continuation Options
	  	29
	 2.11
	 	 Limitations on Eurodollar Tranches
	  	29
	 2.12
	 	 Interest Rates and Payment Dates
	  	29
	 2.13
	 	 Computation of Interest and Fees
	  	30
	 2.14
	 	 Inability to Determine Interest Rate
	  	30
	 2.15
	 	 Pro Rata Treatment and Payments
	  	31
	 2.16
	 	 Requirements of Law
	  	32
	 2.17
	 	 Taxes
	  	33
	 2.18
	 	 Indemnity
	  	35
	 2.19
	 	 Change of Lending Office
	  	36
	 2.20
	 	 Replacement of Lenders
	  	36
			
	 SECTION 3.
	 	 LETTERS OF CREDIT
	  	36
			
	 3.1  
	 	 L/C Commitment
	  	36
	 3.2  
	 	 Procedure for Issuance of Letter of Credit
	  	37
	 3.3  
	 	 Fees and Other Charges
	  	37
	 3.4  
	 	 L/C Participations
	  	37
	 3.5  
	 	 Reimbursement Obligation of the Borrower
	  	38
	 3.6  
	 	 Obligations Absolute
	  	39
	 3.7  
	 	 Letter of Credit Payments
	  	39
	 3.8  
	 	 Applications
	  	39
			
	 SECTION 4.
	 	 REPRESENTATIONS AND WARRANTIES
	  	39
			
	 4.1  
	 	 Financial Condition
	  	39
	 4.2  
	 	 No Change
	  	40
	 4.3  
	 	 Existence; Compliance with Law
	  	40

  

 i 

	 4.4  
	  	 Power; Authorization; Enforceable Obligations
	  	41
	 4.5  
	  	 No Legal Bar
	  	41
	 4.6  
	  	 Litigation
	  	41
	 4.7  
	  	 No Default
	  	41
	 4.8  
	  	 Ownership of Property; Liens
	  	41
	 4.9  
	  	 Intellectual Property
	  	42
	 4.10
	  	 Taxes
	  	42
	 4.11
	  	 Federal Regulations
	  	42
	 4.12
	  	 Labor Matters
	  	42
	 4.13
	  	 ERISA
	  	43
	 4.14
	  	 Investment Company Act; Other Regulations
	  	43
	 4.15
	  	 Subsidiaries
	  	43
	 4.16
	  	 Use of Proceeds
	  	43
	 4.17
	  	 Environmental Matters
	  	43
	 4.18
	  	 Accuracy of Information, etc.
	  	44
	 4.19
	  	 Security Documents
	  	45
	 4.20
	  	 Solvency
	  	45
	 4.21
	  	 Senior Indebtedness
	  	45
	 4.22
	  	 Insurance
	  	45
	 4.23
	  	 Certain Documents
	  	46
			
	 SECTION 5.
	  	 CONDITIONS PRECEDENT
	  	46
			
	 5.1  
	  	 Conditions to Initial Extension of Credit
	  	46
	 5.2  
	  	 Conditions to Each Extension of Credit
	  	49
			
	 SECTION 6.
	  	 AFFIRMATIVE COVENANTS
	  	50
			
	 6.1  
	  	 Financial Statements
	  	50
	 6.2  
	  	 Certificates; Other Information
	  	52
	 6.3  
	  	 Payment of Obligations
	  	53
	 6.4  
	  	 Maintenance of Existence; Compliance
	  	53
	 6.5  
	  	 Maintenance of Property; Insurance
	  	53
	 6.6  
	  	 Inspection of Property; Books and Records; Discussions
	  	53
	 6.7  
	  	 Notices
	  	54
	 6.8  
	  	 Environmental Laws
	  	54
	 6.9  
	  	 Additional Collateral, etc.
	  	55
			
	 SECTION 7.
	  	 NEGATIVE COVENANTS
	  	56
			
	 7.1  
	  	 Financial Condition Covenants.
	  	57
	 7.2  
	  	 Indebtedness
	  	58
	 7.3  
	  	 Liens
	  	60
	 7.4  
	  	 Fundamental Changes
	  	61
	 7.5  
	  	 Disposition of Property
	  	62
	 7.6  
	  	 Restricted Payments
	  	62
	 7.7  
	  	 Capital Expenditures
	  	63

  

 ii 

	 7.8  
	  	 Investments
	  	63
	 7.8A
	  	 Acquisitions
	  	64
	 7.9  
	  	 Optional Payments and Modifications of Certain Debt Instruments
	  	65
	 7.10
	  	 Transactions with Affiliates
	  	65
	 7.11
	  	 Sales and Leasebacks
	  	66
	 7.12
	  	 Changes in Fiscal Periods
	  	66
	 7.13
	  	 Negative Pledge Clauses
	  	66
	 7.14
	  	 Clauses Restricting Subsidiary Distributions
	  	66
	 7.15
	  	 Lines of Business
	  	66
	 7.16
	  	 Limitation of Activities of Holdings
	  	67
	 7.17
	  	 Limitation of Permitted Joint Ventures
	  	67
			
	 SECTION 8.
	  	 EVENTS OF DEFAULT
	  	67
			
	 SECTION 9.
	  	 THE AGENTS
	  	71
			
	 9.1  
	  	 Appointment
	  	71
	 9.2  
	  	 Delegation of Duties
	  	71
	 9.3  
	  	 Exculpatory Provisions
	  	72
	 9.4  
	  	 Reliance by Administrative Agent
	  	72
	 9.5  
	  	 Notice of Default
	  	72
	 9.6  
	  	 Non–Reliance on Agents and Other Lenders
	  	73
	 9.7  
	  	 Indemnification
	  	73
	 9.8  
	  	 Agent in Its Individual Capacity
	  	74
	 9.9  
	  	 Successor Administrative Agent
	  	74
	 9.10
	  	 Other Representatives
	  	74
			
	 SECTION 10.
	  	 MISCELLANEOUS
	  	74
			
	 10.1  
	  	 Amendments and Waivers
	  	74
	 10.2  
	  	 Notices
	  	75
	 10.3  
	  	 No Waiver; Cumulative Remedies
	  	76
	 10.4  
	  	 Survival of Representations and Warranties
	  	77
	 10.5  
	  	 Payment of Expenses and Taxes
	  	77
	 10.6  
	  	 Successors and Assigns; Participations and Assignments
	  	79
	 10.7  
	  	 Adjustments; Set–off
	  	81
	 10.8  
	  	 Counterparts
	  	82
	 10.9  
	  	 Severability
	  	82
	 10.10
	  	 Integration
	  	82
	 10.11
	  	 GOVERNING LAW
	  	82
	 10.12
	  	 Submission To Jurisdiction; Waivers
	  	82
	 10.13
	  	 Acknowledgments
	  	83
	 10.14
	  	 Releases of Guarantees and Liens
	  	83
	 10.15
	  	 Confidentiality
	  	84
	 10.16
	  	 WAIVERS OF JURY TRIAL
	  	85

  

 iii 

	 ANNEX:

		
	 A
	  	Pricing Grid
	
	 SCHEDULES:

		
	 1.1
	  	Commitments
	 4.4
	  	Consents, Authorizations, Filings and Notices
	 4.15
	  	Subsidiaries
	 4.19
	  	UCC Filing Jurisdictions
	 4.19(b)
	  	Real Property
	 7.2(d)
	  	Existing Indebtedness
	 7.3(f)
	  	Existing Liens
	
	 EXHIBITS:

		
	 A
	  	Form of Guarantee and Collateral Agreement
	 B
	  	Form of Compliance Certificate
	 C
	  	Form of Closing Certificate
	 D
	  	Form of Assignment and Assumption
	 E-1
	  	Form of Legal Opinion of Vinson & Elkins L.L.P., counsel to Holdings, the Borrower and its Subsidiaries
	 E-2
	  	Form of Legal Opinion of Richard A. Parr, general counsel to Holdings, the Borrower and its Subsidiaries
	 E-3
	  	Form of Legal Opinion of Schreck Brignone, Nevada counsel to the Borrower and certain Subsidiaries
	 E-4
	  	Form of Legal Opinion of McDermott, Will & Emery, Massachusetts counsel to certain Subsidiaries
	 F
	  	Form of Exemption Certificate

  

 iv 

 CREDIT AGREEMENT, dated as of August 13, 2003, among CONCENTRA INC., a Delaware corporation
(“Holdings”), CONCENTRA OPERATING CORPORATION, a Nevada corporation (the “Borrower”), the several banks and other financial institutions or entities from time to time parties to this Agreement (the
“Lenders”), JPMORGAN CHASE BANK, as administrative agent, Deutsche Banc Alex Brown, as documentation agent, and Citicorp North America, Inc. and Credit Suisse First Boston, as co-syndication agents. 
  
 RECITALS 
  
 WHEREAS, in order to (a) refinance certain indebtedness of the Borrower (b) finance a portion of the Transactions (as
hereinafter defined), and (c) to provide for certain ongoing working capital needs of the Borrower and its Subsidiaries, the Borrower desires to obtain financing through (i) the issuance of senior subordinated notes for an aggregate principal amount
of not more than $150,000,000 and (ii) the incurrence of senior secured Indebtedness of an aggregate principal amount of not more than $435,000,000 by entering into this Agreement with the Lenders hereto. 
  
 NOW, THEREFORE, in consideration of the mutual provisions, covenants and
agreements herein contained, the parties hereto hereby agree as follows: 
  
 SECTION 1. DEFINITIONS 
  
 1.1
Defined Terms. As used in this Agreement, the terms listed in this Section 1.1 shall have the respective meanings set forth in this Section 1.1. 
  
 “1999 Senior Subordinated Note Indenture”: the indenture entered into by the Borrower, the Subsidiary Guarantors and United States Trust
Company, as trustee thereunder, in connection with the issuance of the 1999 Senior Subordinated Notes, together with all instruments and other agreements entered into by the Borrower and the Subsidiary Guarantors in connection therewith, as the same
may be amended, supplemented or otherwise modified from time to time in accordance with Section 7.9. 
  
 “1999 Senior Subordinated Notes”: the 13% Senior Subordinated Notes due 2009 issued by the Borrower. 
  
 “2002 Holdings Bridge Notes”: the $55,000,000 unsecured
senior bridge notes due 2004 issued by Holdings. 
  
 “2003
Issuance”: as defined in Section 5.1(b)(i). 
  
 “2003 Senior Subordinated Note Indenture”: the indenture entered into by the Borrower, the Subsidiary Guarantors and The Bank of New York, as trustee thereunder, in connection with the issuance of the 2003 Senior
Subordinated Notes, together with all instruments and other agreements entered into by the Borrower and the Subsidiary Guarantors in connection therewith, as the same may be amended, supplemented or otherwise modified from time to time in accordance
with Section 7.9. 

 “2003 Senior Subordinated Notes”: the $150,000,000 9.5% Senior Subordinated Notes due
2010 issued by the Borrower on the Closing Date pursuant to the 2003 Senior Subordinated Note Indenture. 
  
 “ABR”: for any day, a rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to the greater of (a) the Prime Rate
in effect on such day and (b) the Federal Funds Effective Rate in effect on such day plus 1⁄2 of 1%. For purposes hereof: “Prime Rate” shall mean the rate of interest per annum publicly announced from time to time by the
Reference Lender as its prime rate in effect at its principal office in New York City (the Prime Rate not being intended to be the lowest rate of interest charged by the Reference Lender in connection with extensions of credit to debtors). Any
change in the ABR due to a change in the Prime Rate or the Federal Funds Effective Rate shall be effective as of the opening of business on the effective day of such change in the Prime Rate or the Federal Funds Effective Rate, respectively.

  
 “ABR Loans”: Loans the rate of interest
applicable to which is based upon the ABR. 
  
 “Acquisition Capital Expenditures”: for any period, with respect to any Person, the aggregate of all expenditures by such Person and its Subsidiaries for the acquisition of fixed or capital assets in Permitted Acquisitions
that should be capitalized under GAAP on a consolidated balance sheet of such Person and its Subsidiaries. 
  
 “Adjustment Date”: as defined in the Pricing Grid. 
  
 “Administrative Agent”: JPMorgan Chase Bank, together with its affiliates as the administrative agent for
the Lenders under this Agreement and the other Loan Documents, together with any of its permitted successors hereunder. 
  
 “Affiliate”: 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, other than any Professional Association. For purposes of this definition, “control” of a Person means the power, directly or indirectly, either to (a) vote 10% or more of the securities having ordinary voting
power for the election of directors (or persons performing similar functions) of such Person or (b) direct or cause the direction of the management and policies of such Person, whether by contract or otherwise. 
  
 “Agents”: the collective reference to the Co-Syndication
Agents, the Documentation Agent and the Administrative Agent. 
  
 “Aggregate Exposure”: with respect to any Lender at any time, an amount equal to (a) until the Closing Date, the aggregate amount of such Lender’s Commitments at such time and (b) thereafter, the sum of (i) the
aggregate then unpaid principal amount of such Lender’s Term Loans and (ii) the amount of such Lender’s Revolving Commitment then in effect or, if the Revolving Commitments have been terminated, the amount of such Lender’s Revolving
Extensions of Credit then outstanding. 
  

 2 

 “Aggregate Exposure Percentage”: with respect to any Lender at any time, the ratio
(expressed as a percentage) of such Lender’s Aggregate Exposure at such time to the Aggregate Exposure of all Lenders at such time. 
  
 “Agreement”: this Credit Agreement, as amended, supplemented, restated or otherwise modified from time to time. 
  
 “Applicable Margin”: (a) for each Term Loan, the rate per
annum which is 2.75% for ABR Loans and 3.75% for Eurodollar Loans; and (b) for Revolving Loans, the rate per annum which is 2.25% for ABR Loans and 3.25% for Eurodollar Loans; provided, that on and after the first Adjustment Date occurring
after receipt by the Administrative Agent of the first available Compliance Certificate after the Closing Date, the Applicable Margin with respect to Revolving Loans will be determined pursuant to the Pricing Grid. 
  
 “Application”: an application, in such form as the Issuing
Lender may specify from time to time, requesting the Issuing Lender to open a Letter of Credit. 
  
 “Approved Fund”: as defined in Section 10.6(b)(ii). 
  
 “Asset Sale”: any Disposition of property or series of related Dispositions of property (excluding any such
Disposition permitted by clause (a), (b), (c) or (d) of Section 7.5). 
  
 “Assignee”: as defined in Section 10.6(b)(i). 
  
 “Assignment and Assumption”: an Assignment and Assumption, substantially in the form of Exhibit D. 
  
 “Available Revolving Commitment”: as to any Revolving Lender at any time, an amount equal to the excess, if any, of (a) such
Lender’s Revolving Commitment then in effect over (b) such Lender’s Revolving Extensions of Credit then outstanding. 
  
 “Bank Debt Repayment”: as defined in Section 5.1(b)(iii)(A). 
  
 “Benefitted Lender”: as defined in Section 10.7(a). 
  
 “Board”: the Board of Governors of the Federal Reserve
System of the United States (or any successor). 
  
 “Borrower”: as defined in the preamble hereto. 
  
 “Borrowing Date”: any Business Day specified by the Borrower as a date on which the Borrower requests the relevant Lenders to make Loans hereunder. 
  
 “Business”: as defined in Section 4.17(b). 
  
 “Business Day”: a day other than a Saturday, Sunday or other
day on which commercial banks in New York City are authorized or required by law to close, provided, that with respect to notices and determinations in connection with, and payments of principal and 

  

 3 

 
interest on, Eurodollar Loans, such day is also a day for trading by and between banks in Dollar deposits in the interbank eurodollar market. 
  
 “Capital Expenditures”: for any period, with respect to any
Person, the sum of all Maintenance Capital Expenditures and Acquisition Capital Expenditures by such Person and its Subsidiaries. 
  
 “Capital Lease Obligations”: as to any Person, the obligations of such Person to pay rent or other amounts under any lease of (or other
arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP and, for the purposes of
this Agreement, the amount of such obligations at any time shall be the capitalized amount thereof at such time determined in accordance with GAAP. 
  
 “Capital Stock”: any and all shares, interests, participations or other equivalents (however designated) of capital stock of a
corporation, any and all equivalent ownership interests in a Person (other than a corporation) and any and all warrants, rights or options to purchase any of the foregoing. 
  
 “Cash Equivalents”: (a) marketable direct obligations issued by, or unconditionally guaranteed by, the
United States government or issued by any agency thereof and backed by the full faith and credit of the United States, in each case maturing within one year from the date of acquisition; (b) certificates of deposit, time deposits, eurodollar time
deposits or overnight bank deposits having maturities of one year or less from the date of acquisition issued by any Lender or by any commercial bank organized under the laws of the United States or any state thereof having combined capital and
surplus of not less than $500,000,000; (c) commercial paper of an issuer rated at least A-1 by Standard & Poor’s Ratings Services (“S&P”) or P-1 by Moody’s Investors Service, Inc. (“Moody’s”),
or carrying an equivalent rating by a nationally recognized rating agency, if both of the two named rating agencies cease publishing ratings of commercial paper issuers generally, and maturing within one year from the date of acquisition; (d)
repurchase obligations of any Lender or of any commercial bank satisfying the requirements of clause (b) of this definition, having a term of not more than 90 days, with respect to securities issued or fully guaranteed or insured by the United
States government; (e) securities with maturities of one year or less from the date of acquisition issued or fully guaranteed by any state, commonwealth or territory of the United States, by any political subdivision or taxing authority of any such
state, commonwealth or territory or by any foreign government, the securities of which state, commonwealth, territory, political subdivision, taxing authority or foreign government (as the case may be) are rated at least A-1 by S&P or P-1 by
Moody’s; (f) securities with maturities of one year or less from the date of acquisition backed by standby letters of credit issued by any Lender or any commercial bank satisfying the requirements of clause (b) of this definition; or (g) shares
of money market mutual or similar funds which invest exclusively in assets satisfying the requirements of clauses (a) through (f) of this definition. 
  
 “Closing Date”: the date on which the conditions precedent set forth in Section 5.1 shall have been satisfied, which date is August 13,
2003. 
  

 4 

 “Co-Arrangers”: Citigroup Global Markets Inc. and Credit Suisse First Boston, together
with their respective affiliates, as co-arrangers for the Facilities, together with any of their respective successors. 
  
 “Co-Syndication Agents”: Citicorp North America, Inc. and Credit Suisse First Boston, together with their respective affiliates as the
co-syndication agents under this Agreement and the other Loan Documents, together with any of their respective successors. 
  
 “Code”: the Internal Revenue Code of 1986, as amended from time to time. 
  
 “Collateral”: all of the property of the Loan Parties, now owned or hereafter acquired, upon which a Lien
is purported to be created by any Security Document. 
  
 “Commitment”: as to any Lender, the sum of the Term Commitment and the Revolving Commitment of such Lender. 
  
 “Commitment Fee Rate”:  1/2 of 1% per annum. 
  
 “Commonly Controlled Entity”: an entity, whether or not incorporated, that is under common control with the Borrower within the meaning of Section 4001 of ERISA or is part of a group that includes the Borrower and that is
treated as a single employer under Section 414 of the Code. 
  
 “Compliance Certificate”: a certificate duly executed by a Responsible Officer substantially in the form of Exhibit B. 
  
 “Confidential Information Memorandum”: the Confidential Information Memorandum dated July 2003 and furnished to the Lenders. 

 
 “Consolidated Current Assets”: at any date, all amounts
(other than cash and Cash Equivalents) that would, in conformity with GAAP, be set forth opposite the caption “total current assets” (or any like caption) on a consolidated balance sheet of the Borrower and its Subsidiaries at such date.

  
 “Consolidated Current Liabilities”: at any
date, all amounts that would, in conformity with GAAP, be set forth opposite the caption “total current liabilities” (or any like caption) on a consolidated balance sheet of the Borrower and its Subsidiaries at such date, but excluding (a)
the current portion of any Funded Debt of the Borrower and its Subsidiaries and (b) without duplication of clause (a) above, all Indebtedness consisting of Revolving Loans to the extent otherwise included therein. 
  
 “Consolidated EBITDA”: for any period, Consolidated Net
Income for such period plus, without duplication and to the extent reflected as a charge in the statement of such Consolidated Net Income for such period, the sum of (a) income tax expense, (b) interest expense, amortization or writeoff of
debt discount and debt issuance costs and commissions, discounts and other fees and charges associated with Indebtedness (including the Loans), (c) depreciation and amortization expense, (d) amortization of intangibles (including, but not limited
to, goodwill) and organization costs, (e) any extraordinary, unusual or non-recurring non- 

  

 5 

 
cash expenses or losses (including, whether or not otherwise includable as a separate item in the statement of such Consolidated Net Income for such period,
non-cash losses on sales of assets outside of the ordinary course of business), (f) cash dividends or similar distributions paid to owners (other than the Borrower and its Subsidiaries) of Permitted Joint Ventures in an aggregate amount not to
exceed $5,000,000 in each fiscal year, (g) any other non-cash charges, (h) losses on the extinguishment of debt, (i) fees and expenses incurred in connection with the issuance of Indebtedness, (j) non-cash expenses associated with the issuance of
employee stock or stock options, (k) non-cash charges incurred in connection with the consummation of acquisitions of entities under common control and (l) charges classified as cumulative changes in accounting principles and minus, to the
extent included in the statement of such Consolidated Net Income for such period, the sum of (a) interest income, (b) any extraordinary, unusual or non-recurring income or gains (including, whether or not otherwise includable as a separate item in
the statement of such Consolidated Net Income for such period, gains on the sales of assets outside of the ordinary course of business), (c) cash payments for such period that relate to prior period non-cash charges previously added back pursuant to
clause (e), (g) or (k), above and (d) any other non-cash income, all as determined on a consolidated basis. For the purposes of calculating Consolidated EBITDA for any period of four consecutive fiscal quarters (each, a “Reference
Period”) pursuant to any determination of the Consolidated Leverage Ratio, (i) if at any time during such Reference Period the Borrower or any Subsidiary shall have made any Material Disposition, the Consolidated EBITDA for such Reference
Period shall be reduced by an amount equal to the Consolidated EBITDA (if positive) attributable to the property that is the subject of such Material Disposition for such Reference Period or increased by an amount equal to the Consolidated EBITDA
(if negative) attributable thereto for such Reference Period and (ii) if during such Reference Period the Borrower or any Subsidiary shall have made a Material Acquisition, Consolidated EBITDA for such Reference Period shall be calculated after
giving pro forma effect thereto as if such Material Acquisition occurred on the first day of such Reference Period. As used in this definition, “Material Acquisition” means any acquisition of property or series of
related acquisitions of property that (a) constitutes assets comprising all or substantially all of an operating unit of a business or constitutes all or substantially all of the common stock of a Person and (b) involves the payment of consideration
by the Borrower and its Subsidiaries in excess of $5,000,000; and “Material Disposition” means any Disposition of property or series of related Dispositions of property that (x) constitutes assets comprising all or substantially all
of an operating unit of a business or constitutes all or substantially all of the common stock of a Person and (y) yields gross proceeds to the Borrower or any of its Subsidiaries in excess of $5,000,000. 
  
 “Consolidated Fixed Charge Coverage Ratio”: for any period,
the ratio of (a) the sum of Consolidated EBITDA for such period and Consolidated Lease Expense for such period to (b) Consolidated Fixed Charges for such period. 
  
 “Consolidated Fixed Charges”: for any period, the sum (without duplication) of (a) Consolidated Interest
Expense for such period, (b) Consolidated Lease Expense for such period, (c) scheduled payments made during such period on account of principal of Indebtedness of the Borrower or any of its Subsidiaries (including scheduled principal payments in
respect of the Term Loans and payments of Revolving Loans accompanying scheduled reductions of the Revolving Commitments), (d) Maintenance Capital Expenditures for such period not financed by 

  

 6 

 
Indebtedness permitted pursuant to Section 7.2(e) or (i) and (e) the aggregate amount of income taxes for which provision is made by the Borrower and its
Subsidiaries for such period. 
  
 “Consolidated Interest
Coverage Ratio”: for any period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Interest Expense for such period. 
  
 “Consolidated Interest Expense”: for any period, total cash interest expense (including that attributable to Capital Lease Obligations),
net of cash interest income, of the Borrower and its Subsidiaries for such period with respect to all outstanding Indebtedness of the Borrower and its Subsidiaries (including all commissions, discounts and other fees and charges owed with respect to
letters of credit and bankers’ acceptance financing and net costs under Hedge Agreements in respect of interest rates to the extent such net costs are allocable to such period in accordance with GAAP but excluding net payments received under
Hedge Agreements). 
  
 “Consolidated Lease
Expense”: for any period, the aggregate amount of fixed and contingent rentals payable by the Borrower and its Subsidiaries for such period with respect to leases of real and personal property, determined on a consolidated basis in
accordance with GAAP. 
  
 “Consolidated Leverage
Ratio”: as at the last day of any period, the ratio of (a) Consolidated Total Debt on such day to (b) Consolidated EBITDA for such period. 
  
 “Consolidated Net Income”: for any period, the consolidated net income (or loss) of the Borrower and its Subsidiaries, determined on a
consolidated basis in accordance with GAAP; provided that there shall be excluded (a) the income (or deficit) of any Person accrued prior to the date it becomes a Subsidiary of the Borrower or is merged into or consolidated with the Borrower
or any of its Subsidiaries, (b) the income (or deficit) of any Person (other than a Subsidiary of the Borrower) in which the Borrower or any of its Subsidiaries has an ownership interest, except to the extent that any such income is actually
received by the Borrower or such Subsidiary in the form of dividends or similar distributions and (c) the undistributed earnings of any Subsidiary of the Borrower to the extent that the declaration or payment of dividends or similar distributions by
such Subsidiary is not at the time permitted by the terms of any Contractual Obligation (other than under any Loan Document) or Requirement of Law applicable to such Subsidiary. 
  
 “Consolidated Total Debt”: at any date, the aggregate principal amount of all Indebtedness of the Borrower
and its Subsidiaries at such date, determined on a consolidated basis in accordance with GAAP. 
  
 “Consolidated Working Capital”: at any date, the excess of Consolidated Current Assets on such date over Consolidated Current Liabilities on such date. 
  
 “Continuing Directors”: the directors of Holdings on the
Closing Date and each other director, if, in each case, such other director’s nomination for election to the board of directors of Holdings is recommended by at least a majority of the then Continuing Directors (provided, that the act or
vote of a majority of the directors is sufficient to constitute such act or vote as that of the board of directors of Holdings, otherwise, such nomination for election of 

  

 7 

 
directors of Holdings shall be by at least the requisite number of the then Continuing Directors as is required therefor) or such other director receives the
vote of the Permitted Investors in his or her election by the shareholders of Holdings. 
  
 “Contractual Obligation”: as to any Person, any provision of any security issued by such Person or of any agreement, instrument or other undertaking to which such Person is a party or by which it or
any of its property is bound. 
  
 “Control Investment
Affiliate”: as to any Person, any other Person that (a) directly or indirectly, is in control of, is controlled by, or is under common control with, such Person and (b) is organized by such Person primarily for the purpose of making equity
or debt investments in one or more companies. For purposes of this definition, “control” of a Person means the power, directly or indirectly, to direct or cause the direction of the management and policies of such Person whether by
contract or otherwise. 
  
 “Default”: any of the
events specified in Section 8, whether or not any requirement for the giving of notice, the lapse of time, or both, has been satisfied. 
  
 “Designated Lender”: as defined in Section 5.1(a). 
  
 “Disposition”: with respect to any property, any sale, lease, sale and leaseback, assignment, conveyance,
transfer or other disposition thereof. The terms “Dispose” and “Disposed of” shall have correlative meanings. 
  
 “Documentation Agent”: Deutsche Banc Alex Brown, together with its affiliates, as documentation agent under this Agreement and the other
Loan Documents, together with any of its successors. 
  
 “Dollars” and “$”: dollars in lawful currency of the United States. 
  
 “Domestic Subsidiary”: any Subsidiary of the Borrower organized under the laws of any jurisdiction within the United States. 

 
 “ECF Percentage”: 50%. 
  
 “Environmental Laws”: any and all foreign, Federal, state,
local or municipal laws, rules, orders, regulations, statutes, ordinances, codes, decrees, requirements of any Governmental Authority or other Requirements of Law (including common law) regulating, relating to or imposing liability or standards of
conduct concerning protection of the environment or of human health as affected by the environment as now or may at any time hereafter be in effect. 
  
 “ERISA”: the Employee Retirement Income Security Act of 1974, as amended from time to time. 
  
 “Eurocurrency Reserve Requirements”: for any day as applied
to a Eurodollar Loan, the aggregate (without duplication) of the maximum rates (expressed as a decimal fraction) of reserve requirements in effect on such day (including basic, supplemental, marginal 

  

 8 

 
and emergency reserves under any regulations of the Board or other Governmental Authority having jurisdiction with respect thereto) dealing with reserve
requirements prescribed for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the Board) maintained by a member bank of the Federal Reserve System. 
  
 “Eurodollar Base Rate”: with respect to each day during each
Interest Period pertaining to a Eurodollar Loan, the rate per annum determined on the basis of the rate for deposits in Dollars for a period equal to such Interest Period commencing on the first day of such Interest Period appearing on Page 3750 of
the Telerate screen as of 11:00 A.M., London time, two Business Days prior to the beginning of such Interest Period. In the event that such rate does not appear on Page 3750 of the Telerate screen (or otherwise on such screen), the
“Eurodollar Base Rate” shall be determined by reference to such other comparable publicly available service for displaying eurodollar rates as may be selected by the Administrative Agent or, in the absence of such availability, by
reference to the rate at which the Administrative Agent is offered Dollar deposits at or about 11:00 A.M., New York City time, two Business Days prior to the beginning of such Interest Period in the interbank eurodollar market where its eurodollar
and foreign currency and exchange operations are then being conducted for delivery on the first day of such Interest Period for the number of days comprised therein. 
  
 “Eurodollar Loans”: Loans the rate of interest applicable to which is based upon the Eurodollar Rate.

  
 “Eurodollar Rate”: with respect to each day
during each Interest Period pertaining to a Eurodollar Loan, a rate per annum determined for such day in accordance with the following formula (rounded upward to the nearest 1/100th of 1%): 
  

	 Eurodollar Base Rate

	1.00—Eurocurrency Reserve Requirements

  
 “Eurodollar
Tranche”: the collective reference to Eurodollar Loans the then current Interest Periods with respect to all of which begin on the same date and end on the same later date (whether or not such Loans shall originally have been made on the
same day). 
  
 “Event of Default”: any of the
events specified in Section 8, provided that any requirement for the giving of notice, the lapse of time, or both, has been satisfied. 
  
 “Excess Cash Flow”: for any fiscal period of the Borrower, the excess, if any, of (a) the sum, without duplication, of (i) Consolidated
Net Income for such fiscal period, (ii) an amount equal to the amount of all non-cash charges (including depreciation and amortization) deducted in arriving at such Consolidated Net Income, (iii) decreases in Consolidated Working Capital for such
fiscal period, and (iv) an amount equal to the aggregate net non-cash loss on the Disposition of property by the Borrower and its Subsidiaries during such fiscal period (other than sales of inventory in the ordinary course of business), to the
extent deducted in arriving at such Consolidated Net Income over (b) the sum, without duplication, of (i) an amount equal to the amount of all non-cash credits included in arriving at such Consolidated Net Income, (ii) the aggregate amount
actually paid by the Borrower and its Subsidiaries in cash during such fiscal period on account of Maintenance Capital Expenditures, Acquisition Capital Expenditures and, 

  

 9 

 
without duplication, Permitted Acquisitions and Permitted Minority Acquisitions (excluding the principal amount of Indebtedness incurred to finance any such
expenditures or any such expenditures financed with the proceeds of any Reinvestment Deferred Amount, any Asset Sale retained by the Borrower or any of its Subsidiaries pursuant to Section 2.9(b) or any issuance of Capital Stock by the Borrower or
its Subsidiaries), (iii) the aggregate amount of all prepayments of Revolving Loans during such fiscal period to the extent accompanying permanent optional reductions of the Revolving Commitments and all optional prepayments of the Term Loans during
such fiscal period, (iv) the aggregate amount of all regularly scheduled principal payments of Funded Debt (including the Term Loans) of the Borrower and its Subsidiaries made during such fiscal period (other than in respect of any revolving credit
facility to the extent there is not an equivalent permanent reduction in commitments thereunder), (v) increases in Consolidated Working Capital for such fiscal period, (vi) an amount equal to the aggregate net non-cash gain on the Disposition of
property by the Borrower and its Subsidiaries during such fiscal period (other than sales of inventory in the ordinary course of business), to the extent included in arriving at such Consolidated Net Income, and (vii) without duplication, an amount
equal to the amount of all Restricted Payments actually paid by the Borrower or its Subsidiaries pursuant to Sections 7.6(a), (b) and (c) during such fiscal period, including, without limitation, management fees paid by the Borrower or its
Subsidiaries as set forth in Section 7.6(b). 
  
 “Excess
Cash Flow Application Date”: as defined in Section 2.9(c). 
  
 “Exchange Act”: as defined in Section 8(k). 
  
 “Excluded Foreign Subsidiary”: any Foreign Subsidiary in respect of which either (a) the pledge of all of the Capital Stock of such Subsidiary as Collateral or (b) the guaranteeing by such Subsidiary of the Obligations, is
restricted by regulatory authority or by Requirement of Law or would, in the good faith judgment of the Borrower, result in adverse tax consequences to the Borrower. 
  
 “Facility”: each of (a) the Term Commitments and the Term Loans made thereunder (the “Term
Facility”) and (b) the Revolving Commitments and the extensions of credit made thereunder (the “Revolving Facility”). 
  
 “Federal Funds Effective Rate”: for any day, 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 on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average of the
quotations for the day of such transactions received by the Reference Lender from three federal funds brokers of recognized standing selected by it. 
  
 “Foreign Subsidiary”: any Subsidiary of the Borrower that is not a Domestic Subsidiary. 
  
 “Funded Debt”: as to any Person, all Indebtedness of such
Person that matures more than one year from the date of its creation or matures within one year from such date but is renewable or extendible, at the option of such Person, to a date more than one year from such date or arises under a revolving
credit or similar agreement that obligates the lender or lenders to 

  

 10 

 
extend credit during a period of more than one year from such date, including all current maturities and current sinking fund payments in respect of such
Indebtedness whether or not required to be paid within one year from the date of its creation and, in the case of the Borrower, Indebtedness in respect of the Loans. 
  
 “Funding Office”: the office of the Administrative Agent specified in Section 10.2 or such other office as
may be specified from time to time by the Administrative Agent as its funding office by written notice to the Borrower and the Lenders. 
  
 “GAAP”: generally accepted accounting principles in the United States as in effect from time to time, except that for purposes of Section
7.1, GAAP shall be determined on the basis of such principles in effect on the date hereof and consistent with those used in the preparation of the most recent audited financial statements delivered pursuant to Section 4.1(b). In the event that any
“Accounting Change” (as defined below) shall occur and such change results in a change in the method of calculation of financial covenants, standards or terms in this Agreement, then the Borrower and the Administrative Agent agree to enter
into negotiations in order to amend such provisions of this Agreement so as to equitably reflect such Accounting Changes with the desired result that the criteria for evaluating the Borrower’s financial condition shall be the same after such
Accounting Changes as if such Accounting Changes had not been made. Until such time as such an amendment shall have been executed and delivered by the Borrower, the Administrative Agent and the Required Lenders, all financial covenants, standards
and terms in this Agreement shall continue to be calculated or construed as if such Accounting Changes had not occurred. “Accounting Changes” refers to changes in accounting principles required by the promulgation of any rule,
regulation, pronouncement or opinion by the Financial Accounting Standards Board of the American Institute of Certified Public Accountants or, if applicable, the SEC. 
  
 “Governmental Authority”: any nation or government, any state or other political subdivision thereof, any
agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative functions of or pertaining to government, any securities exchange and any
self-regulatory organization (including the National Association of Insurance Commissioners). 
  
 “Guarantee and Collateral Agreement”: the Guarantee and Collateral Agreement to be executed and delivered by Holdings, the Borrower and each Subsidiary Guarantor, substantially in the form of Exhibit
A, as the same may be amended, supplemented or otherwise modified from time to time. 
  
 “Guarantee Obligation”: as to any Person (the “guaranteeing person”), any obligation of (a) the guaranteeing person or (b) another Person (including any bank under any letter of
credit) to induce the creation of which the guaranteeing person has issued a reimbursement, counterindemnity or similar obligation, in either case guaranteeing or in effect guaranteeing any Indebtedness, leases, dividends or other obligations (the
“primary obligations”) of any other third Person (the “primary obligor”) in any manner, whether directly or indirectly, including any obligation of the guaranteeing person, whether or not contingent, (i) to purchase
any such primary obligation or any property constituting direct or indirect security therefor, (ii) to advance or supply funds (1) for the purchase or payment of any such primary obligation or (2) 

  

 11 

 
to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary obligor, (iii) to
purchase property, securities or services primarily for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation or (iv) otherwise to assure or hold harmless
the owner of any such primary obligation against loss in respect thereof; provided, however, that the term Guarantee Obligation shall not include endorsements of instruments for deposit or collection in the ordinary course of business.
The amount of any Guarantee Obligation of any guaranteeing person shall be deemed to be the lower of (a) an amount equal to the stated or determinable amount of the primary obligation in respect of which such Guarantee Obligation is made and (b) the
maximum amount for which such guaranteeing person may be liable pursuant to the terms of the instrument embodying such Guarantee Obligation, unless such primary obligation and the maximum amount for which such guaranteeing person may be liable are
not stated or determinable (or is limited to certain property or the value thereof), in which case the amount of such Guarantee Obligation shall be such guaranteeing person’s maximum reasonably anticipated liability in respect thereof as
determined by the board of directors of the Borrower in good faith or, with respect to any property, the fair market value of such property or, if such fair market value is not readily determinable, the maximum value of such property as determined
by the board of directors of the Borrower in good faith. 
  
 “Guarantors”: the collective reference to Holdings and the Subsidiary Guarantors. 
  
 “Hedge Agreements”: all interest rate swaps, caps or collar agreements or similar arrangements providing for protection against
fluctuations in interest rates or currency exchange rates or the exchange of nominal interest obligations, either generally or under specific contingencies. 
  
 “Hedge Retirement”: as defined in Section 5.1(b)(iii)(C). 
  
 “Holdings”: as defined in the preamble hereto. 
  
 “Holdings Refinancing Indebtedness”: any Indebtedness
incurred by Holdings to refinance in whole or in part the 2002 Holdings Bridge Notes (including accrued interest thereon), provided that such Indebtedness (i) is subordinate to the rights of the Lenders under this Agreement, (ii) does not
exceed the aggregate amount of such indebtedness in existence on the Closing Date (including accrued interest thereon, together with transaction fees and expenses), (iii) is stated to mature or amortize not earlier than the date that is the earlier
of six months after (x) the sixth anniversary of the Closing Date and (y) the first date on which the Loans have been paid or prepaid in full and no Commitments or Letters of Credit are outstanding, (iv) is not the object of any Guarantee Obligation
by, and otherwise has no recourse to, the Borrower or any of its Subsidiaries and is not secured by any assets of the Borrower or any of its Subsidiaries, (v) has cross-default or cross-acceleration provisions relating to Indebtedness of the
Borrower or any of its Subsidiaries that are no less favorable to Holdings than those provided for in the Senior Discount Debenture Indenture or that are otherwise reasonably satisfactory to the Administrative Agent and (vi) otherwise has terms and
conditions reasonably satisfactory to the Administrative Agent. 
  

 12 

 “Indebtedness”: of any Person at any date, without duplication, (a) all indebtedness of
such Person for borrowed money, (b) all obligations of such Person for the deferred purchase price of property or services (other than current trade payables incurred in the ordinary course of such Person’s business), (c) all obligations of
such Person evidenced by notes, bonds, debentures or other similar instruments, (d) all indebtedness created or arising under any conditional sale or other title retention agreement with respect to property acquired by such Person (even though the
rights and remedies of the seller or lender under such agreement in the event of default are limited to repossession or sale of such property), (e) all Capital Lease Obligations of such Person, (f) all obligations of such Person, contingent or
otherwise, as an account party under acceptance, letter of credit or similar facilities, (g) the liquidation value of all mandatorily redeemable preferred Capital Stock of such Person, (h) all Guarantee Obligations of such Person in respect of
obligations of the kind referred to in clauses (a) through (g) above; (i) all obligations of the kind referred to in clauses (a) through (h) above secured by (or for which the holder of such obligation has an existing right, contingent or otherwise,
to be secured by) any Lien on property (including accounts and contract rights) owned by such Person, whether or not such Person has assumed or become liable for the payment of such obligation; and (j) for the purposes of Section 8(e) only, all
obligations of such Person in respect of Hedge Agreements. With respect to any obligations for which recourse is limited to certain property or the value thereof, the amount of such Person’s Indebtedness shall be the fair market value of such
property or, if such fair market value is not readily determinable, the maximum value of such property as determined by the board of directors of the Borrower in good faith. In calculating Indebtedness of the Borrower and its Subsidiaries on a
consolidated basis for any purpose herein, any Guarantee Obligation of the Borrower or any Subsidiary in respect of any other Indebtedness of the Borrower or any Subsidiary shall be disregarded. 
  
 “Insolvency”: with respect to any Multiemployer Plan, the
condition that such Plan is insolvent within the meaning of Section 4245 of ERISA. 
  
 “Insolvent”: pertaining to a condition of Insolvency. 
  
 “Intellectual Property”: the collective reference to all rights, priorities and privileges relating to intellectual property, whether
arising under United States, multinational or foreign laws or otherwise, including copyrights, copyright licenses, patents, patent licenses, trademarks, trademark licenses, technology, know-how and processes, and all rights to sue at law or in
equity for any infringement or other impairment thereof, including the right to receive all proceeds and damages therefrom. 
  
 “Intercompany Loan”: as defined in Section 5.1(b)(iii)(B) and evidenced by that certain promissory note from Holdings to the Borrower,
dated as of the Closing Date, in an aggregate amount of $141,152,090, due and payable in one final installment of all unpaid principal and accrued unpaid interest on August 13, 2013. The note shall be subordinate in right of payment to the Senior
Discount Debentures. 
  
 “Interest Payment
Date”: (a) as to any ABR Loan, quarterly in arrears on the last day of each quarter following the Closing Date while such Loan is outstanding and the final maturity date of such Loan, (b) as to any Eurodollar Loan having an Interest Period
of three months or less, the last day of such Interest Period, (c) as to any Eurodollar Loan having an 

  

 13 

 
Interest Period longer than three months, each day that is three months, or a whole multiple thereof, after the first day of such Interest Period and the
last day of such Interest Period and (d) as to any Loan (other than any Revolving Loan that is an ABR Loan), the date of any repayment or prepayment made in respect thereof. 
  
 “Interest Period”: as to any Eurodollar Loan, (a) initially, the period commencing on the borrowing or
conversion date, as the case may be, with respect to such Eurodollar Loan and ending one, two, three or six months thereafter, as selected by the Borrower in its notice of borrowing or notice of conversion, as the case may be, given with respect
thereto; and (b) thereafter, each period commencing on the last day of the next preceding Interest Period applicable to such Eurodollar Loan and ending one, two, three or six months thereafter, as selected by the Borrower by irrevocable notice to
the Administrative Agent not less than three Business Days prior to the last day of the then current Interest Period with respect thereto; provided that, all of the foregoing provisions relating to Interest Periods are subject to the
following: 
  
 (i) if any Interest Period would
otherwise end on a day that is not a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless the result of such extension would be to carry such Interest Period into another calendar month in which event such
Interest Period shall end on the immediately preceding Business Day; 
  
 (ii) the Borrower may not select an Interest Period under a particular Facility that would extend beyond the Scheduled Revolving Termination Date or beyond the date final payment is due on the Term Loans, as the case
may be; 
  
 (iii) any Interest Period that begins
on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of a calendar month; and 
  
 (iv) the Borrower shall select Interest Periods so as not to
require a payment or prepayment of any Eurodollar Loan during an Interest Period for such Loan. 
  
 “Investments”: as defined in Section 7.8. 
  
 “IPO”: the issuance by Holdings of shares of its common stock to the public pursuant to a bona fide underwritten public offering,
resulting in at least 15% of Holdings’ outstanding shares of common stock having been issued to the public by Holdings. 
  
 “Issuing Lender”: JPMorgan Chase Bank, in its capacity as issuer of any Letter of Credit. 
  
 “L/C Commitment”: $35,000,000. 
  
 “L/C Fee Payment Date”: the last day of each quarter
following the Closing Date and the last day of the Revolving Commitment Period. 
  

 14 

 “L/C Obligations”: at any time, an amount equal to the sum of (a) the aggregate then
undrawn and unexpired amount of the then outstanding Letters of Credit and (b) the aggregate amount of drawings under Letters of Credit that have not then been reimbursed pursuant to Section 3.5. 
  
 “L/C Participants”: the collective reference to all the
Revolving Lenders other than the Issuing Lender. 
  
 “Lead
Arranger”: J.P. Morgan Securities Inc., together with its affiliates, as lead arranger and joint book manager for the Facilities, together with any of their respective successors. 
  
 “Lenders”: as defined in the preamble hereto. 
  
 “Letters of Credit”: as defined in Section 3.1(a).

  
 “Lien”: any mortgage, pledge, hypothecation,
assignment, deposit arrangement, encumbrance, lien (statutory or other), charge or other security interest or any preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever (including any
conditional sale or other title retention agreement and any capital lease having substantially the same economic effect as any of the foregoing). 
  
 “Loan”: any loan made by any Lender pursuant to this Agreement. 
  
 “Loan Documents”: this Agreement, the Security Documents and the Notes, if any. 
  
 “Loan Parties”: Holdings, the Borrower and each Subsidiary
of the Borrower that is a party to a Loan Document. 
  
 “Maintenance Capital Expenditures”: for any period, with respect to any Person, the aggregate of all expenditures by such Person and its Subsidiaries for the acquisition or leasing (pursuant to a capital lease) of fixed or
capital assets (other than fixed or capital assets acquired in Permitted Acquisitions) or additions to, and development of, equipment, computer system, hardware and software (including replacements, capitalized repairs and improvements during such
period) that should be capitalized as fixed or capital assets under GAAP on a consolidated balance sheet of such Person and its Subsidiaries. 
  
 “Majority Facility Lenders”: with respect to any Facility, the holders of more than 50% of the aggregate unpaid principal amount of the
Term Loans or the Total Revolving Extensions of Credit, as the case may be, outstanding under such Facility (or, in the case of the Revolving Facility, prior to any termination of the Revolving Commitments, the holders of more than 50% of the Total
Revolving Commitments). 
  
 “Material Adverse
Effect”: a material adverse effect on (a) the Transactions, (b) the business, property, operations, condition (financial or otherwise) or prospects of the Borrower and its Subsidiaries taken as a whole or (c) the validity or enforceability
of this Agreement or any of the other Loan Documents. 
  

 15 

 “Materials of Environmental Concern”: any gasoline or petroleum (including crude oil or
any fraction thereof) or petroleum products or any hazardous or toxic substances, materials or wastes, defined or regulated as such in or under any Environmental Law, including asbestos, polychlorinated biphenyls and urea-formaldehyde insulation,
and any other substance the presence of or exposure to which could reasonably be expected to result in liability under any applicable Environmental Law. 
  
 “Moody’s”: Moody’s Investors Services Inc. 
  
 “Mortgages”: each of the mortgages and deeds of trust which shall be made by any Loan Party in favor of, or
for the benefit of, the Administrative Agent for the benefit of the Lenders, upon acquisition of any real property by Holdings, the Borrower or any of its Domestic Subsidiaries after the Closing Date pursuant to Section 6.9(b). 
  
 “Multiemployer Plan”: a Plan that is a multiemployer plan as
defined in Section 4001(a)(3) of ERISA. 
  
 “Net Cash
Proceeds”: (a) in connection with any Asset Sale or any Recovery Event, the proceeds thereof in the form of cash and Cash Equivalents (including any such proceeds received by way of deferred payment of principal pursuant to a note or
installment receivable or purchase price adjustment receivable or otherwise, but only as and when received) of such Asset Sale or Recovery Event, net of attorneys’ fees, accountants’ fees, investment banking fees, other consultants’
fees in connection therewith not already set forth herein and other customary fees and expenses actually incurred in connection therewith and net of taxes paid or reasonably estimated to be payable as a result thereof (after taking into account any
available tax credits or deductions and any tax sharing arrangements), amounts required to be applied to the repayment of Indebtedness secured by a Lien expressly permitted hereunder on any asset that is the subject of such Asset Sale or Recovery
Event (other than any Lien pursuant to a Security Document) including amounts paid as penalties or premiums on the repayment of such Indebtedness, amounts of any reserves reasonably estimated to be paid out within eighteen months from the date of
the occurrence of such Asset Sale or Recovery Event that are directly attributable to such event and (b) in connection with any issuance or sale of equity securities or debt securities or instruments or the incurrence of loans, the cash proceeds
received from such issuance or incurrence, net of attorneys’ fees, investment banking fees, accountants’ fees, other consultants’ fees in connection therewith not already set forth herein, underwriting discounts and commissions, and
other customary fees and expenses actually incurred in connection therewith. 
  
 “Non-Excluded Taxes”: as defined in Section 2.17(a). 
  
 “Non-Executing Persons”: as defined in Section 5.1(a). 
  
 “Non-U.S. Lender”: as defined in Section 2.17(d). 
  
 “Notes”: the collective reference to any promissory note
evidencing Loans. 
  
 “Obligations”: the unpaid
principal of and interest on (including interest accruing after the maturity of the Loans and Reimbursement Obligations and interest accruing after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or

  

 16 

 
like proceeding, relating to the Borrower, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding) the Loans and all
other obligations and liabilities of the Borrower to the Administrative Agent or to any Lender (or, in the case of Hedge Agreements, any affiliate of any Lender), whether direct or indirect, absolute or contingent, due or to become due, or now
existing or hereafter incurred, which may arise under, out of, or in connection with, this Agreement, any other Loan Document, the Letters of Credit, any Hedge Agreement entered into with any Lender or any affiliate of any Lender or any other
document made, delivered or given in connection herewith or therewith, whether on account of principal, interest, reimbursement obligations, fees, indemnities, costs, expenses (including all reasonable fees, charges and disbursements of counsel to
the Administrative Agent or to any Lender that are required to be paid by the Borrower pursuant hereto) or otherwise. 
  
 “Other Representatives”: the collective reference to the Co-Syndication Agents, the Documentation Agent, the Lead Arranger and the
Co-Arrangers. 
  
 “Other Taxes”: any and all
present or future stamp or documentary taxes or any other excise or property taxes, charges or similar levies arising from any payment made hereunder or from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement or
any other Loan Document. 
  
 “Participant”: as
defined in Section 10.6(c)(i). 
  
 “PBGC”: the
Pension Benefit Guaranty Corporation established pursuant to Subtitle A of Title IV of ERISA (or any successor). 
  
 “Permitted Acquisition”: any acquisition by the Borrower or a Subsidiary of all or substantially all of the assets of, or all the Capital
Stock of, a Person or division or line of business of a Person if, immediately after giving effect thereto, (a) no Default or Event of Default has occurred and is continuing or would result therefrom, (b) all transactions related thereto are
consummated in accordance with applicable laws, except where any non-compliance could not, singly or in the aggregate, reasonably be expected to have a Material Adverse Effect, (c) all of the Capital Stock in each Subsidiary formed for the purpose
of or resulting from such acquisition shall be owned directly by the Borrower or a Subsidiary of the Borrower and all actions required to be taken with respect to such acquired or newly created Subsidiary under Section 6.9 have been taken, (d) the
Borrower and its Subsidiaries are in compliance, on a pro forma basis as at the end of the last fiscal quarter of the Borrower for which financial statements are available after giving effect to such acquisition, with the covenants contained in
Section 7.1 calculated as at the last day of the most recently ended fiscal quarter of the Borrower for which financial statements are available, as if such acquisition (and any related incurrence or repayment of Indebtedness, with any new
Indebtedness being deemed amortized over the applicable testing period in accordance with its terms, and with any Revolving Loans borrowed in connection with such acquisition being deemed to be repaid with excess cash balances as available) had
occurred on the first day of each relevant period for testing such compliance (provided, that, with respect to determining the compliance by the Borrower and its Subsidiaries with the covenant for Consolidated Leverage Ratio set forth in
Section 7.1(a), each such ratio for the respective fiscal quarter set forth therein shall be deemed to have been decreased by 0.25, provided, further, that such decrease shall not apply in the event the Consolidated Leverage Ratio is
at or less than 4.00 

  

 17 

 
to 1.00) and (e) the Borrower has delivered to the Administrative Agent an officers’ certificate to the effect set forth in clauses (a), (b), (c) and
(d) above, together with all relevant financial information for the Person or assets to be acquired. 
  
 “Permitted Holdings Interest Payment Amount”: as at any date in any fiscal year of the Borrower beginning with the 2005 fiscal year, an
amount equal to the remainder of (a) the lesser of: 
  
 (i) the amount set forth opposite the Consolidated Leverage Ratio as at the end of most recent fiscal quarter of the Borrower for which financial statements are available: 
  

	 Consolidated
 Leverage Ratio

	  	Amount

	 >3.50 to 1.00
	  	$	10,000,000
		
	 £3.50 to 1.00 but
 >3.00 to
1.00
	  	$	12,500,000
		
	 £3.00 to 1.00
	  	$	15,000,000

  
 with the
determination of such amount being subject to the second and third sentences of the Pricing Grid; or 
  
 (ii) the ECF Percentage of the Excess Cash Flow of the Borrower for such most recent fiscal quarter of the Borrower; 
  
 minus (b) the sum of the dividend payments and other distributions to Holdings
previously made under Section 7.6(d) during the then current fiscal year of the Borrower; provided that the first determination of the Permitted Holdings Interest Payment Amount in any fiscal year shall be based on figures from the
Borrower’s most recently completed fiscal year. 
  
 “Permitted Investors”: the collective reference to the Sponsor and its Control Investment Affiliates. 
  
 “Permitted Joint Venture”: with respect to the Borrower and any one or more of its Subsidiaries (a) any corporation,
association, limited liability company or other business entity (other than a partnership) (i) of which 50% or more of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the
election of directors, managers or trustees thereof is at the time of determination owned or controlled, directly or indirectly, by the Borrower or any one or more of its Subsidiary Guarantors or a combination thereof and (ii) which is either
managed or controlled by the Borrower or any one or more of its Subsidiary Guarantors and (b) any partnership of which (i) 50% or more of the general or limited partnership interests are owned or controlled, directly or indirectly, by the Borrower
or any one or more of its Subsidiary Guarantors or a combination thereof and (ii) which is either managed or controlled by the Borrower or any one or more of its Subsidiary Guarantors, and which in the case of each of clauses (a) and (b), (i) is
engaged in a business in which 

  

 18 

 
the Borrower and its Subsidiaries are permitted to be engaged pursuant to Section 7.15 of this Agreement or that are reasonably related thereto, (ii) only
incurs Indebtedness from the Borrower, (iii) cannot enter into any Guarantee Obligation, and (iv) distributes all cash at least annually (other than cash required to be reserved on its balance sheet in accordance with GAAP consistent with past
practice). 
  
 “Permitted Minority Acquisition”:
any acquisition or investment by the Borrower or a Subsidiary of or in less than 50% of the Capital Stock of, a Person or division or line of business of a Person if, immediately after giving effect thereto, (a) no Default or Event of Default
has occurred and is continuing or would result therefrom, (b) such Person or division or line of business of such Person is engaged in a business in which the Borrower and its Subsidiaries are permitted to be engaged pursuant to Section 7.15 of this
Agreement or that are reasonably related thereto, and (c) all transactions related thereto are consummated in accordance with applicable laws, except where any non-compliance could not, singly or in the aggregate, reasonably be expected to have a
Material Adverse Effect. 
  
 “Person”: an
individual, partnership, corporation, limited liability company, business trust, joint stock company, trust, unincorporated association, joint venture, Governmental Authority or other entity of whatever nature. 
  
 “Plan”: at a particular time, any employee benefit plan that
is covered by ERISA and in respect of which the Borrower or a Commonly Controlled Entity is (or, if such plan were terminated at such time, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of
ERISA. 
  
 “Pricing Grid”: the pricing grid
attached hereto as Annex A. 
  
 “Professional
Association”: any professional association or professional corporation which employs physicians or other professionals to provide health care services for the Borrower’s and its Subsidiaries’ and other Affiliates’
occupational and health services centers. 
  
 “Pro Forma
Balance Sheets”: as defined in Section 4.1(a). 
  
 “Projections”: as defined in Section 6.2(c). 
  
 “Properties”: as defined in Section 4.17(a). 
  
 “Recovery Event”: any settlement of or payment in respect of any property or casualty insurance claim or any condemnation proceeding relating to any asset of Holdings, the Borrower or any of its Subsidiaries. 
  
 “Redemption”: as defined in Section 5.1(b)(iii)(B).

  
 “Reference Lender”: JPMorgan Chase Bank.

  
 “Refinancing”: as defined in Section
5.1(b)(iii)(D). 
  

 19 

 “Register”: as defined in Section 10.6(b)(iv). 
  
 “Regulation U”: Regulation U of the Board as in effect from
time to time. 
  
 “Reimbursement Obligation”: the
obligation of the Borrower to reimburse the Issuing Lender pursuant to Section 3.5 for amounts drawn under Letters of Credit. 
  
 “Reinvestment Deferred Amount”: with respect to any Reinvestment Event, the aggregate Net Cash Proceeds received by Holdings, the
Borrower or any of their respective Subsidiaries in connection therewith that are not applied to prepay the Term Loans or reduce the Revolving Commitments pursuant to Section 2.9(b) as a result of the delivery of a Reinvestment Notice. 

 
 “Reinvestment Event”: any Recovery Event in respect of
which the Borrower has delivered a Reinvestment Notice. 
  
 “Reinvestment Notice”: a written notice executed by a Responsible Officer stating that no Default or Event of Default has occurred and is continuing and that the Borrower (directly or indirectly through a Subsidiary)
intends and expects to use all or a specified portion of the Net Cash Proceeds of a Recovery Event to acquire, repair or replace assets useful in its business. 
  

“Reinvestment Prepayment Amount”: with respect to any Reinvestment Event, the Reinvestment Deferred Amount relating thereto less any
amount expended prior to the relevant Reinvestment Prepayment Date to acquire, repair or replace assets useful in the Borrower’s business. 
  
 “Reinvestment Prepayment Date”: with respect to any Reinvestment Event, the earlier of (a) the date occurring six months after such
Reinvestment Event and (b) the date on which the Borrower shall have determined not to, or shall have otherwise ceased to, acquire, repair or replace assets useful in the Borrower’s business with all or any portion of the relevant Reinvestment
Deferred Amount. 
  
 “Reorganization”: with
respect to any Multiemployer Plan, the condition that such plan is in reorganization within the meaning of Section 4241 of ERISA. 
  
 “Reportable Event”: any of the events set forth in Section 4043(b) of ERISA, other than those events as to which the thirty day notice
period is waived under subsections .27, .28, .29, .30, .31, .32, .34 or .35 of PBGC Reg. § 4043. 
  
 “Required Lenders”: at any time, the holders of more than 50% of (a) until the Closing Date, the Commitments then in effect and (b)
thereafter, the sum of (i) the aggregate unpaid principal amount of the Term Loans then outstanding and (ii) the Total Revolving Commitments then in effect or, if the Revolving Commitments have been terminated, the Total Revolving Extensions of
Credit then outstanding. 
  
 “Requirement of
Law”: as to any Person, the Certificate of Incorporation and By-Laws or other organizational or governing documents of such Person, and any law, treaty, 

  

 20 

 
rule or regulation or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or
any of its property or to which such Person or any of its property is subject. 
  
 “Responsible Officer”: the chief executive officer, president, chief financial officer or executive vice president of the Borrower or Holdings, as applicable, but in any event, with respect to
financial matters, the chief financial officer of the Borrower or Holdings, as applicable. 
  
 “Restricted Payments”: as defined in Section 7.6. 
  
 “Revolving Commitment”: as to any Lender, the obligation of such Lender, if any, to make Revolving Loans and Letters of Credit in an
aggregate principal and/or face amount not to exceed the amount set forth under the heading “Revolving Commitment” opposite such Lender’s name on Schedule 1.1 or in the Assignment and Assumption pursuant to which such Lender became a
party hereto, as the same may be changed from time to time pursuant to the terms hereof. The original amount of the Total Revolving Commitments is $100,000,000. 
  

“Revolving Commitment Period”: the period from and including the Closing Date to the Scheduled Revolving Termination Date. 

 
 “Revolving Extensions of Credit”: as to any Revolving
Lender at any time, an amount equal to the sum of (a) the aggregate principal amount of all Revolving Loans held by such Lender then outstanding and (b) such Lender’s Revolving Percentage of the L/C Obligations then outstanding. 
  
 “Revolving Lender”: each Lender that has a Revolving
Commitment or that holds Revolving Loans. 
  
 “Revolving
Loans”: as defined in Section 2.4(a). 
  
 “Revolving Percentage”: as to any Revolving Lender at any time, the percentage which such Lender’s Revolving Commitment then constitutes of the Total Revolving Commitments (or, at any time after the Revolving
Commitments shall have expired or terminated, the percentage which the aggregate principal amount of such Lender’s Revolving Loans then outstanding constitutes of the aggregate principal amount of the Revolving Loans then outstanding).

  
 “S&P”: Standard & Poor’s Ratings
Services (a division of McGraw-Hill Companies, Inc.). 
  
 “Scheduled Revolving Termination Date”: August 13, 2008. 
  
 “SEC”: the Securities and Exchange Commission, any successor thereto and any analogous Governmental Authority. 
  

“Security Documents”: the collective reference to the Guarantee and Collateral Agreement, Mortgages, if applicable, and all other
security documents hereafter delivered to the 

  

 21 

 
Administrative Agent granting a Lien on any property of any Person to secure the obligations and liabilities of any Loan Party under any Loan Document.

  
 “Senior Discount Debentures”: the 14% Senior
Discount Debentures due 2011 issued by Holdings, together with warrants to purchase Capital Stock of Holdings. 
  
 “Senior Discount Debenture Indenture”: the collective reference to (a) the indenture entered into by Holdings in connection with the
issuance of the Senior Discount Debentures, (b) the supplemental indenture entered into by Holdings, The Bank of New York, as trustee and the holders of the Senior Discount Debentures dated as of July 28, 2003, and (c) all instruments and other
agreements entered into by Holdings in connection therewith, as the same may be amended, supplemented or otherwise modified from time to time in accordance with Section 7.9. 
  
 “Senior Discount Debenture Purchase Agreement”: the agreement entered into by Holdings in connection with
the issuance of the Senior Discount Debentures, together with all instruments and other agreements entered into by Holdings in connection therewith, as the same may be amended, supplemented or otherwise modified from time to time in accordance with
Section 7.9.  
  
 “Senior Discount Debenture
Refinancing”: as defined in Section 7.2(g). 
  
 “Senior Subordinated Note Indentures”: the collective reference to the 1999 Senior Subordinated Note Indenture and the 2003 Senior Subordinated Note Indenture. 
  
 “Senior Subordinated Notes”: the collective reference to the 1999 Senior Subordinated Notes and the 2003
Senior Subordinated Notes. 
  
 “Single Employer
Plan”: any Plan that is covered by Title IV of ERISA, but that is not a Multiemployer Plan. 
  
 “Solvent”: when used with respect to any Person, means 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 will be able to pay its debts 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. 
  

 22 

 “Specified Change of Control”: a “Change of Control” as defined in either
Senior Subordinated Note Indenture, the Senior Discount Debenture Purchase Agreement, the Senior Discount Debenture Indenture, the documentation for any Senior Discount Debenture Refinancing, the 2002 Holdings Bridge Notes and the documentation for
any Holdings Refinancing Indebtedness. 
  
 “Sponsor”: Welsh, Carson, Anderson & Stowe VIII, L.P., together with its Affiliates. 
  
 “Subsidiary”: as to any Person, a corporation, partnership, limited liability company, trust or other entity (other than, except for
purposes of Sections 6.1 and 7.1, a Permitted Joint Venture) of which shares of stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the happening of
a contingency) to elect a majority of the board of directors, other managers or trustees of such corporation, partnership, limited liability company, trust or other entity are at the time owned, or the management of which is otherwise controlled,
directly or indirectly through one or more intermediaries, or both, by such Person. Unless otherwise qualified, all references to a “Subsidiary” or to “Subsidiaries” in this Agreement shall refer to a Subsidiary or Subsidiaries
of the Borrower. 
  
 “Subsidiary Guarantor”: each
Subsidiary of the Borrower other than any Excluded Foreign Subsidiary. 
  
 “Term Commitment”: as to any Lender, the obligation of such Lender, if any, to make a Term Loan to the Borrower hereunder in a principal amount not to exceed the amount set forth under the heading “Term
Commitment” opposite such Lender’s name on Schedule 1.1. The original aggregate amount of the Term Commitments is $335,000,000. 
  
 “Term Lender”: each Lender that has a Term Commitment or that holds a Term Loan. 
  
 “Term Loan”: as defined in Section 2.1. 
  
 “Term Percentage”: as to any Term Lender at any time, the
percentage which such Lender’s Term Commitment then constitutes of the aggregate Term Commitments (or, at any time after the Closing Date, the percentage which the aggregate principal amount of such Lender’s Term Loans then outstanding
constitutes of the aggregate principal amount of the Term Loans then outstanding). 
  
 “Total Revolving Commitments”: at any time, the aggregate amount of the Revolving Commitments then in effect. 
  

“Total Revolving Extensions of Credit”: at any time, the aggregate amount of the Revolving Extensions of Credit of the Revolving
Lenders outstanding at such time. 
  
 “Transactions”: as defined in Section 5.1(b)(iii). 
  
 “Transferee”: any Assignee or Participant. 
  

 23 

 “Type”: as to any Loan, its nature as an ABR Loan or a Eurodollar Loan. 
  
 “United States”: the United States of America. 

 
 “Wholly Owned Subsidiary”: as to any Person, any other
Person all of the Capital Stock of which (other than directors’ qualifying shares required by law) is owned by such Person directly and/or through other Wholly Owned Subsidiaries. 
  
 “Wholly Owned Subsidiary Guarantor”: any Subsidiary Guarantor that is a Wholly Owned Subsidiary of the
Borrower. 
  
 1.2 Other Definitional Provisions. (a) Unless
otherwise specified therein, all terms defined in this Agreement shall have the defined meanings when used in the other Loan Documents or any certificate or other document made or delivered pursuant hereto or thereto. 
  
 (b) As used herein and in the other Loan Documents, and any certificate or
other document made or delivered pursuant hereto or thereto, (i) accounting terms relating to Holdings, the Borrower and its Subsidiaries not defined in Section 1.1 and accounting terms partly defined in Section 1.1, to the extent not defined, shall
have the respective meanings given to them under GAAP, (ii) the words “include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation”, (iii) the word “incur”
shall be construed to mean incur, create, issue, assume, become liable in respect of or suffer to exist (and the words “incurred” and “incurrence” shall have correlative meanings), (iv) the words “asset” and
“property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, Capital Stock, securities, revenues, accounts, leasehold interests and contract
rights, and (v) Holdings, the Borrower, any of their respective Subsidiaries or any Loan Party shall be deemed to have “knowledge” or “know” of a particular matter, or such matter shall be deemed “known” to any of them
if any of their respective directors, chief executive officer, president, chief financial officer, treasurer, controller, general counsel, corporate secretary or other senior officers shall have actual knowledge or actually know of such matter or
such matter is actually known to any of them. 
  
 (c) The words
“hereof”, “herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement, and Section, Schedule and
Exhibit references are to this Agreement unless otherwise specified. 
  
 (d) The meanings given to terms defined herein shall be equally applicable to both the singular and plural forms of such terms. 
  
 SECTION 2. AMOUNT AND TERMS OF COMMITMENTS 
  
 2.1 Term Commitments. Subject to the terms and conditions hereof, each Term Lender severally agrees to make a term loan (a “Term
Loan”) to the Borrower on the Closing Date in a single draw in the amount of the Term Commitment of such Lender. The Term Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the
Administrative Agent in accordance with Sections 2.2 and 2.10. 
  

 24 

 2.2 Procedure for Term Loan Borrowing. The Borrower shall give the Administrative Agent
irrevocable notice (which notice must be received by the Administrative Agent prior to 12:00 Noon, New York City time, three Business Days prior to the Closing Date, in the case of Eurodollar Loans, or prior to 10:00 A.M., New York City time, on the
Closing Date, in the case of ABR Loans) specifying (i) the amount and Type of Term Loans to be borrowed and (ii) in the case of Eurodollar Loans, the respective amounts of each such Type of Loan and the respective lengths of the initial Interest
Period therefor. Upon receipt of such notice the Administrative Agent shall promptly notify each Term Lender thereof. Not later than 12:00 Noon, New York City time, on the Closing Date each Term Lender shall make available to the Administrative
Agent at the Funding Office an amount in immediately available funds equal to the Term Loan or Term Loans to be made by such Lender. The Administrative Agent shall credit the account of the Borrower on the books of such office of the Administrative
Agent with the aggregate of the amounts made available to the Administrative Agent by the Term Lenders in immediately available funds. 
  
 2.3 Repayment of Term Loans. The Term Loan of each Lender shall mature in twenty-four (24) consecutive quarterly installments, commencing on
September 30, 2003, each of which shall be in an amount equal to such Lender’s Term Percentage multiplied by the amount set forth below opposite such installment: 
  

	 Installment

	  	Principal Amount

	 September 30, 2003
	  	$        837,500
	 December 31, 2003
	  	837,500
	 March 31, 2004
	  	837,500
	 June 30, 2004
	  	837,500
	 September 30, 2004
	  	837,500
	 December 31, 2004
	  	837,500
	 March 31, 2005
	  	837,500
	 June 30, 2005
	  	837,500
	 September 30, 2005
	  	837,500
	 December 31, 2005
	  	837,500
	 March 31, 2006
	  	837,500
	 June 30, 2006
	  	837,500
	 September 30, 2006
	  	837,500
	 December 31, 2006
	  	837,500
	 March 31, 2007
	  	837,500
	 June 30, 2007
	  	837,500
	 September 30, 2007
	  	837,500
	 December 31, 2007
	  	837,500
	 March 31, 2008
	  	837,500
	 June 30, 2008
	  	837,500
	 September 30, 2008
	  	47,737,500
	 December 31, 2008
	  	47,737,500
	 March 31, 2009
	  	95,475,000
	 June 30, 2009
	  	all amounts outstanding in
respect of the Term Loans.

  

 25 

 2.4 Revolving Commitments. (a) Subject to the terms and conditions hereof, each Revolving Lender
severally agrees to make revolving credit loans (“Revolving Loans”) to the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount at any one time outstanding which, when added to such
Lender’s Revolving Percentage of the L/C Obligations then outstanding, does not exceed the amount of such Lender’s Revolving Commitment. During the Revolving Commitment Period the Borrower may use the Revolving Commitments by borrowing,
prepaying the Revolving Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the
Administrative Agent in accordance with Sections 2.5 and 2.10. 
  
 (b) The Borrower shall repay all outstanding Revolving Loans on the Scheduled Revolving Termination Date. 
  
 2.5 Procedure for Revolving Loan Borrowing. The Borrower may borrow under the Revolving Commitments during the Revolving Commitment Period on any
Business Day, provided that the Borrower shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 1:00 P.M., New York City time, three Business Days prior to the requested
Borrowing Date, in the case of Eurodollar Loans, or prior to 10:00 A.M., New York City time, on the requested Borrowing Date, in the case of ABR Loans), specifying (i) the amount and Type of Revolving Loans to be borrowed, (ii) the requested
Borrowing Date and (iii) in the case of Eurodollar Loans, the respective amounts of each such Type of Loan and the respective lengths of the initial Interest Period therefor. Each borrowing under the Revolving Commitments shall be in an amount equal
to (x) in the case of ABR Loans, $1,000,000 or a multiple of $500,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $1,000,000, such lesser amount) and (y) in the case of Eurodollar Loans, $2,500,000 or a
whole multiple of $500,000 in excess thereof. Upon receipt of any such notice from the Borrower, the Administrative Agent shall promptly notify each Revolving Lender thereof. Each Revolving Lender will make the amount of its pro rata
share of each borrowing available to the Administrative Agent for the account of the Borrower at the Funding Office prior to 12:00 Noon, New York City time, on the Borrowing Date requested by the Borrower in funds immediately available to the
Administrative Agent. Such borrowing will then be made available to the Borrower by the Administrative Agent crediting the account of the Borrower on the books of such office with the aggregate of the amounts made available to the Administrative
Agent by the Revolving Lenders and in like funds as received by the Administrative Agent. 
  
 2.6 Commitment Fees, etc. (a) The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender a commitment fee for the period from and including the Closing Date to the last day
of the Revolving Commitment Period, computed at the Commitment Fee Rate on the average daily amount of the Available Revolving Commitment of such Lender during the period for which payment is made, payable quarterly in arrears on the last day of
each March, June, September and December and on the Scheduled Revolving Termination Date, commencing on the first of such dates to occur after the date hereof. 
  

 26 

 (b) The Borrower agrees to pay to the Administrative Agent and the Other Representatives the fees, if
any, in the amounts and on the dates previously agreed to in writing by the Borrower and the Administrative Agent and the Other Representatives, as the case may be. 
  
 2.7 Termination or Reduction of Revolving Commitments. The Borrower shall have the right, upon not less than three
Business Days’ notice to the Administrative Agent, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided that no such termination or reduction of Revolving Commitments
shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Loans made on the effective date thereof, the Total Revolving Extensions of Credit would exceed the Total Revolving Commitments. Any such reduction shall be
in an amount equal to $1,000,000, or a whole multiple thereof, and shall reduce permanently the Revolving Commitments then in effect. 
  
 2.8 Optional Prepayments. (a) The Borrower may at any time and from time to time prepay the Loans, in whole or in part, without premium or penalty
(except, with respect to optional prepayments of the Term Loans, as expressly set forth in Section 2.8(b)), upon irrevocable notice delivered to the Administrative Agent at least three Business Days prior thereto in the case of Eurodollar Loans and
at least one Business Day prior thereto in the case of ABR Loans, which notice shall specify the date and amount of prepayment and whether the prepayment is of Eurodollar Loans or ABR Loans; provided, that if a Eurodollar Loan is prepaid on
any day other than the last day of the Interest Period applicable thereto, the Borrower shall also pay any amounts owing pursuant to Section 2.18. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender
thereof. If any such notice is given, the amount specified in such notice shall be due and payable on the date specified therein, together with (except in the case of Revolving Loans that are ABR Loans) accrued interest to such date on the amount
prepaid. Partial prepayments of Term Loans and Revolving Loans shall be in an aggregate principal amount of $2,500,000 or a whole multiple thereof and shall be applied as set forth in Sections 2.15(b) or (c), as the case may be. 
  
 (b) Each optional prepayment of the Term Loans of any Term Lender during the
period from the Closing Date to but excluding the first anniversary of the Closing Date shall be accompanied by payment of a 1% prepayment premium on the principal amount of such Term Lender’s Term Loan prepaid (unless such prepayment premium
is waived by such Term Lender). 
  
 2.9 Mandatory Prepayments
and Commitment Reductions. (a) If any Capital Stock shall be issued by Holdings, the Borrower or any of its Subsidiaries (other than (i) Capital Stock issued to directors and employees of Holdings, the Borrower or any of its Subsidiaries under
employee benefit plans, (ii) Capital Stock issued to sellers as consideration in acquisitions of equity or ownership interests in, or assets of, other Persons, (iii) Capital Stock issued to existing stockholders of Holdings or other investors in
private placements of the Capital Stock organized by the Sponsor, or (iv) Capital Stock issued by Holdings the proceeds of which are used to repay in whole or in part the 2002 Holdings Bridge Notes, any Holdings Refinancing Indebtedness, the Senior
Discount Debentures or any Senior Discount Debenture Refinancing) an amount equal to 50% of the Net Cash Proceeds from the issuance of such Capital Stock shall be applied on the date of such issuance toward the prepayment of the Term Loans and the

  

 27 

 
reduction of the Revolving Commitments as set forth in Section 2.9(d). If any Indebtedness shall be incurred by Holdings, the Borrower or any of its
Subsidiaries after the Closing Date (other than the 2003 Senior Subordinated Notes, the Senior Discount Debenture Refinancing, the Holdings Refinancing Indebtedness and other Indebtedness permitted in accordance with Section 7.2 as in effect on the
date hereof) an amount equal to 100% of the Net Cash Proceeds from the incurrence of such Indebtedness shall be applied on the date of such issuance or incurrence toward the prepayment of the Term Loans and the reduction of the Revolving Commitments
as set forth in Section 2.9(d). 
  
 (b) If on any date Holdings,
the Borrower or any of its Subsidiaries shall receive Net Cash Proceeds from any Asset Sale or Recovery Event then, unless a Reinvestment Notice in respect of any Recovery Event shall be delivered in respect thereof, such Net Cash Proceeds shall be
applied on such date toward the prepayment of the Term Loans and the reduction of the Revolving Commitments as set forth in Section 2.9(d); provided, that, notwithstanding the foregoing, (i) an aggregate amount not to exceed $5,000,000 of Net
Cash Proceeds from Asset Sales in any fiscal year of the Borrower may be retained by Holdings, the Borrower or any of its Subsidiaries, as the case may be, and (ii) on each Reinvestment Prepayment Date, an amount equal to the Reinvestment Prepayment
Amount with respect to the relevant Reinvestment Event shall be applied toward the prepayment of the Term Loans and the reduction of the Revolving Commitments as set forth in Section 2.9(d). 
  
 (c) If, for any fiscal year of the Borrower commencing with the fiscal year
ending December 31, 2004, there shall be Excess Cash Flow, the Borrower shall, on the relevant Excess Cash Flow Application Date, apply the ECF Percentage of such Excess Cash Flow toward the prepayment of the Term Loans and the reduction of the
Revolving Commitments as set forth in Section 2.9(d). Each such prepayment and commitment reduction shall be made on a date (an “Excess Cash Flow Application Date”) no later than five days after the earlier of (i) the date on which
the financial statements of the Borrower referred to in Section 6.1(a), for the fiscal year with respect to which such prepayment is made, are required to be delivered to the Lenders and (ii) the date such financial statements are actually
delivered. 
  
 (d) Amounts to be applied in connection with
prepayments and Commitment reductions made pursuant to this Section 2.9 shall be applied, first, to the prepayment of the Term Loans and, second, to reduce permanently the Revolving Commitments. Any such reduction of the Revolving
Commitments shall be accompanied by prepayment of the Revolving Loans to the extent, if any, that the Total Revolving Extensions of Credit exceed the amount of the Total Revolving Commitments as so reduced, provided that if the aggregate
principal amount of Revolving Loans then outstanding is less than the amount of such excess (because L/C Obligations constitute a portion thereof), the Borrower shall, to the extent of the balance of such excess, replace outstanding Letters of
Credit and/or deposit an amount in cash in a cash collateral account established with the Administrative Agent for the benefit of the Lenders on terms and conditions satisfactory to the Administrative Agent. 
  
 The application of any prepayment pursuant to this Section 2.9 shall be made,
first, to ABR Loans and, second, to Eurodollar Loans and shall be applied as set forth in Sections 2.15(b) or (c), as the case may be. Each prepayment of the Loans under this Section 2.9 (except 

  

 28 

 
in the case of Revolving Loans that are ABR Loans) shall be accompanied by accrued interest to the date of such prepayment on the amount prepaid. 

 
 2.10 Conversion and Continuation Options. (a) The Borrower may
elect from time to time to convert Eurodollar Loans to ABR Loans by giving the Administrative Agent at least two Business Days’ prior irrevocable notice of such election, provided that any such conversion of Eurodollar Loans may only be
made on the last day of an Interest Period with respect thereto. The Borrower may elect from time to time to convert ABR Loans to Eurodollar Loans by giving the Administrative Agent at least three Business Days’ prior irrevocable notice of such
election (which notice shall specify the length of the initial Interest Period therefor), provided that no ABR Loan under a particular Facility may be converted into a Eurodollar Loan when any Event of Default has occurred and is continuing
and, so long as any Event of Default has occurred and is continuing, the Administrative Agent or the Majority Facility Lenders in respect of such Facility have determined in its or their sole discretion not to permit such conversions. Upon receipt
of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof. 
  
 (b) Any Eurodollar Loan may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Borrower giving
irrevocable notice to the Administrative Agent, in accordance with the applicable provisions of the term “Interest Period” set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans, provided
that no Eurodollar Loan under a particular Facility may be continued as such when any Event of Default has occurred and is continuing and, so long as any Event of Default has occurred and is continuing, the Administrative Agent has or the Majority
Facility Lenders in respect of such Facility have determined in its or their sole discretion not to permit such continuations, and provided, further, that if the Borrower shall fail to give any required notice as described above in
this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any such notice the
Administrative Agent shall promptly notify each relevant Lender thereof. 
  
 2.11 Limitations on Eurodollar Tranches. Notwithstanding anything to the contrary in this Agreement, all borrowings, conversions and continuations of Eurodollar Loans hereunder and all selections of Interest
Periods hereunder shall be in such amounts and be made pursuant to such elections so that, (a) after giving effect thereto, the aggregate principal amount of the Eurodollar Loans comprising each Eurodollar Tranche shall be equal to $2,500,000 or a
whole multiple of $500,000 in excess thereof and (b) no more than eight Eurodollar Tranches shall be outstanding at any one time. 
  
 2.12 Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto
at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin. 
  
 (b) Each ABR Loan shall bear interest at a rate per annum equal to the ABR plus the Applicable Margin. 
  

 29 

 (c) (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be
paid when due (whether at the stated maturity, by acceleration or otherwise), all outstanding Loans and Reimbursement Obligations (whether or not overdue) shall bear interest at a rate per annum equal to (x) in the case of the Loans, the rate that
would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to ABR Loans under the Revolving Facility plus 2%, and (ii) if all
or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall
bear interest at a rate per annum equal to the rate then applicable to ABR Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to ABR Loans
under the Revolving Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such non-payment until such amount is paid in full (as well after as before judgment). 
  
 (d) Interest shall be payable in arrears on each Interest Payment Date,
provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand. 
  
 2.13 Computation of Interest and Fees. (a) Interest and fees payable pursuant hereto shall be calculated on the basis of a 360-day year for the
actual days elapsed, except that, with respect to ABR Loans the rate of interest on which is calculated on the basis of the Prime Rate, the interest thereon shall be calculated on the basis of a 365- (or 366-, as the case may be) day year for the
actual days elapsed. The Administrative Agent shall as soon as practicable notify the Borrower and the relevant Lenders of each determination of a Eurodollar Rate. Any change in the interest rate on a Loan resulting from a change in the ABR or the
Eurocurrency Reserve Requirements shall become effective as of the opening of business on the day on which such change becomes effective. The Administrative Agent shall as soon as practicable notify the Borrower and the relevant Lenders of the
effective date and the amount of each such change in interest rate. 
  
 (b) Each determination of an interest rate by the Administrative Agent pursuant to any provision of this Agreement shall be conclusive and binding on the Borrower and the Lenders in the absence of manifest error. The Administrative Agent
shall, at the request of the Borrower, deliver to the Borrower a statement showing the quotations used by the Administrative Agent in determining any interest rate pursuant to Section 2.12(a). 
  
 2.14 Inability to Determine Interest Rate. If prior to the first day
of any Interest Period: 
  
 (a) the
Administrative Agent shall have determined in good faith (which determination shall be conclusive and binding upon the Borrower) that, by reason of circumstances affecting the relevant market, adequate and reasonable means do not exist for
ascertaining the Eurodollar Rate for such Interest Period, or 
  
 (b) the Administrative Agent shall have received notice from the Majority Facility Lenders in respect of the relevant Facility that the Eurodollar Rate determined or 

  

 30 

 
to be determined for such Interest Period will not adequately and fairly reflect the cost to such Lenders (as conclusively certified by such Lenders) of
making or maintaining their affected Loans during such Interest Period, 
  
 the
Administrative Agent shall give telecopy or telephonic notice thereof to the Borrower and the relevant Lenders as soon as practicable thereafter. If such notice is given (x) any Eurodollar Loans under the relevant Facility requested to be made on
the first day of such Interest Period shall be made as ABR Loans, (y) any Loans under the relevant Facility that were to have been converted on the first day of such Interest Period to Eurodollar Loans shall be continued as ABR Loans and (z) any
outstanding Eurodollar Loans under the relevant Facility shall be converted, on the last day of the then-current Interest Period, to ABR Loans. Until such notice has been withdrawn by the Administrative Agent, no further Eurodollar Loans under the
relevant Facility shall be made or continued as such, nor shall the Borrower have the right to convert Loans under the relevant Facility to Eurodollar Loans. 
  
 2.15 Pro Rata Treatment and Payments. (a) Each borrowing by the Borrower from the Lenders hereunder, each payment by the Borrower on account of any
commitment fee and any reduction of the Commitments of the Lenders shall be made pro rata according to the respective Term Percentages or Revolving Percentages, as the case may be, of the relevant Lenders. 
  
 (b) Each payment (including each prepayment) by the Borrower on account of
principal of and interest on the Term Loans shall be made pro rata according to the respective outstanding principal amounts of the Term Loans then held by the Term Lenders. Prepayments of the Term Loans shall be applied pro
rata to the installments thereof according to the respective outstanding principal amounts thereof, except that optional prepayments shall be applied in the direct order of maturity thereof. Amounts repaid or prepaid on account of the Term
Loans may not be reborrowed. 
  
 (c) Each payment (including each
prepayment) by the Borrower on account of principal of and interest on the Revolving Loans shall be made pro rata according to the respective outstanding principal amounts of the Revolving Loans then held by the Revolving Lenders.

  
 (d) All payments (including prepayments) to be made by the
Borrower hereunder, whether on account of principal, interest, fees or otherwise, shall be made without setoff or counterclaim and shall be made prior to 12:00 Noon, New York City time, on the due date thereof to the Administrative Agent, for the
account of the Lenders, at the Funding Office, in Dollars and in immediately available funds. The Administrative Agent shall distribute such payments to the Lenders promptly upon receipt in like funds as received. If any payment hereunder (other
than payments on the Eurodollar Loans) becomes due and payable on a day other than a Business Day, such payment shall be extended to the next succeeding Business Day. If any payment on a Eurodollar Loan becomes due and payable on a day other than a
Business Day, the maturity thereof shall be extended to the next succeeding Business Day unless the result of such extension would be to extend such payment into another calendar month, in which event such payment shall be made on the immediately
preceding Business Day. In the case of any 

  

 31 

 
extension of any payment of principal pursuant to the preceding two sentences, interest thereon shall be payable at the then applicable rate during such
extension. 
  
 (e) Unless the Administrative Agent shall have been
notified in writing by any Lender prior to a borrowing that such Lender will not make the amount that would constitute its share of such borrowing available to the Administrative Agent, the Administrative Agent may assume that such Lender is making
such amount available to the Administrative Agent, and the Administrative Agent may, in reliance upon such assumption and at its sole discretion, make available to the Borrower a corresponding amount. If such amount is not made available to the
Administrative Agent by the required time on the Borrowing Date therefor, such Lender shall pay to the Administrative Agent, on demand, such amount with interest thereon at a rate equal to the daily average Federal Funds Effective Rate for the
period until such Lender makes such amount immediately available to the Administrative Agent. A certificate of the Administrative Agent submitted to any Lender with respect to any amounts owing under this paragraph shall be conclusive in the absence
of manifest error. If such Lender’s share of such borrowing is not made available to the Administrative Agent by such Lender within three Business Days of such Borrowing Date, the Administrative Agent shall also be entitled to recover such
amount with interest thereon at the rate per annum applicable to ABR Loans under the relevant Facility, on demand, from the Borrower. 
  
 (f) Unless the Administrative Agent shall have been notified in writing by the Borrower prior to the date of any payment being made hereunder that the
Borrower will not make such payment to the Administrative Agent, the Administrative Agent may assume that the Borrower is making such payment, and the Administrative Agent may, but shall not be required to, in reliance upon such assumption and at
its sole discretion, make available to the Lenders their respective pro rata shares of a corresponding amount. If such payment is not made to the Administrative Agent by the Borrower within three Business Days of such required date,
the Administrative Agent shall be entitled to recover, on demand, from each Lender to which any amount which was made available pursuant to the preceding sentence, such amount with interest thereon at the rate per annum equal to the daily average
Federal Funds Effective Rate. Nothing herein shall be deemed to limit the rights of the Administrative Agent or any Lender against the Borrower. 
  
 2.16 Requirements of Law. (a) If the adoption of or any change in any Requirement of Law or in the interpretation or application thereof or
compliance by any Lender with any request or directive (whether or not having the force of law) from any central bank or other Governmental Authority made subsequent to the date hereof: 
  
 (i) shall subject any Lender to any tax of any kind whatsoever with respect to this Agreement, any Letter of
Credit, any Application or any Eurodollar Loan made by it, or change the basis of taxation of payments to such Lender in respect thereof (except for Non-Excluded Taxes covered by Section 2.17 and changes in the rate of tax on the overall net income
of such Lender); 
  
 (ii) shall impose, modify or
hold applicable any reserve, special deposit, compulsory loan or similar requirement against assets held by, deposits or other liabilities in or for the account of, advances, loans or other extensions of credit by, or any other 

  

 32 

 
acquisition of funds by, any office of such Lender that is not otherwise included in the determination of the Eurodollar Rate hereunder; or 
  
 (iii) shall impose on such Lender any other condition;

  
 and the result of any of the foregoing is to increase the cost to such Lender,
by an amount that such Lender deems in good faith to be material, of making, converting into, continuing or maintaining Eurodollar Loans or issuing or participating in Letters of Credit, or to reduce any amount receivable hereunder in respect
thereof, then, in any such case, the Borrower shall promptly pay such Lender, upon its demand, any additional amounts necessary to compensate such Lender for such increased cost or reduced amount receivable. If any Lender becomes entitled to claim
any additional amounts pursuant to this paragraph, it shall promptly notify the Borrower (with a copy to the Administrative Agent) of the event by reason of which it has become so entitled. 
  
 (b) If any Lender shall have determined that the adoption of or any change in
any Requirement of Law regarding capital adequacy or in the interpretation or application thereof or compliance by such Lender or any corporation controlling such Lender with any request or directive regarding capital adequacy (whether or not having
the force of law) from any Governmental Authority made subsequent to the date hereof shall have the effect of reducing the rate of return on such Lender’s or such corporation’s capital as a consequence of its obligations hereunder or under
or in respect of any Letter of Credit to a level below that which such Lender or such corporation reasonably believes it could have achieved but for such adoption, change or compliance (taking into consideration such Lender’s or such
corporation’s policies with respect to capital adequacy) by an amount deemed by such Lender to be material, then from time to time, after submission by such Lender to the Borrower (with a copy to the Administrative Agent) of a written request
therefor, the Borrower shall pay to such Lender such additional amount or amounts as will compensate such Lender for such reduction; provided that the Borrower shall not be required to compensate a Lender pursuant to this paragraph for any
amounts incurred more than six months prior to the date that such Lender notifies the Borrower of such Lender’s intention to claim compensation therefor; and provided further that, if the circumstances giving rise to such claim
have a retroactive effect, then such six-month period shall be extended to include the period of such retroactive effect. 
  
 (c) A certificate as to any additional amounts payable pursuant to this Section submitted by any Lender to the Borrower (with a copy to the Administrative
Agent) shall be conclusive in the absence of manifest error. The obligations of the Borrower pursuant to this Section shall survive the termination of this Agreement and the payment of the Loans and all other amounts payable hereunder. 

 
 2.17 Taxes. (a) All payments made by the Borrower under this
Agreement shall be made free and clear of, and without deduction or withholding for or on account of, any present or future income, stamp or other taxes, levies, imposts, duties, charges, fees, deductions or withholdings, now or hereafter imposed,
levied, collected, withheld or assessed by any Governmental Authority, excluding net income taxes and franchise taxes (imposed in lieu of net income taxes) imposed on the Administrative Agent or any Lender as a result of a present or former
connection between the Administrative Agent or such Lender and the jurisdiction of the 

  

 33 

 
Governmental Authority imposing such tax or any political subdivision or taxing authority thereof or therein (other than any such connection arising solely
from the Administrative Agent or such Lender having executed, delivered or performed its obligations or received a payment under, or enforced, this Agreement or any other Loan Document). If any such non-excluded taxes, levies, imposts, duties,
charges, fees, deductions or withholdings (“Non-Excluded Taxes”) or Other Taxes are required to be withheld from any amounts payable to the Administrative Agent or any Lender hereunder, the amounts so payable to the Administrative
Agent or such Lender shall be increased to the extent necessary to yield to the Administrative Agent or such Lender (after payment of all Non-Excluded Taxes and Other Taxes) interest or any such other amounts payable hereunder at the rates or in the
amounts specified in this Agreement, provided, however, that the Borrower shall not be required to increase any such amounts payable to any Lender with respect to any Non-Excluded Taxes (i) that are attributable to such Lender’s
failure to comply with the requirements of paragraph (d) or (e) of this Section or (ii) that are United States withholding taxes imposed on amounts payable to such Lender at the time the Lender becomes a party to this Agreement, except to the extent
that such Lender’s assignor (if any) was entitled, at the time of assignment, to receive additional amounts from the Borrower with respect to such Non-Excluded Taxes pursuant to this paragraph. 
  
 (b) In addition, the Borrower shall pay any Other Taxes to the relevant
Governmental Authority in accordance with applicable law. 
  
 (c)
Whenever any Non-Excluded Taxes or Other Taxes are payable by the Borrower, as promptly as possible thereafter the Borrower shall send to the Administrative Agent for its own account or for the account of the relevant Lender, as the case may be, a
certified copy of an original official receipt received by the Borrower showing payment thereof. If the Borrower fails to pay any Non-Excluded Taxes or Other Taxes when due to the appropriate taxing authority or fails to remit to the Administrative
Agent the required receipts or other required documentary evidence, the Borrower shall indemnify the Administrative Agent and the Lenders for any incremental taxes, interest or penalties that may become payable by the Administrative Agent or any
Lender as a result of any such failure. 
  
 (d) Each Lender (or
Transferee) that is not a citizen or resident of the United States of America, a corporation, partnership or other entity created or organized in or under the laws of the United States of America (or any jurisdiction thereof), or any estate or trust
that is subject to federal income taxation regardless of the source of its income (a “Non-U.S. Lender”) shall deliver to the Borrower and the Administrative Agent (or, in the case of a Participant, to the Lender from which the
related participation shall have been purchased) two copies of either U.S. Internal Revenue Service Form W-8BEN or Form W-8ECI, or, in the case of a Non-U.S. Lender claiming exemption from U.S. federal withholding tax under Section 871(h) or 881(c)
of the Code with respect to payments of “portfolio interest”, a statement substantially in the form of Exhibit F and a Form W-8BEN, or any subsequent versions thereof or successors thereto, properly completed and duly executed by such
Non-U.S. Lender claiming complete exemption from, or a reduced rate of, U.S. federal withholding tax on all payments by the Borrower under this Agreement and the other Loan Documents. Such forms shall be delivered by each Non-U.S. Lender on or
before the date it becomes a party to this Agreement (or, in the case of any Participant, on or before the date such Participant purchases the related participation. In addition, each Non-U.S. Lender shall deliver such forms promptly upon the
obsolescence or 

  

 34 

 
invalidity of any form previously delivered by such Non-U.S. Lender. Each Non-U.S. Lender shall promptly notify the Borrower at any time it determines that
it is no longer in a position to provide any previously delivered certificate to the Borrower (or any other form of certification adopted by the U.S. taxing authorities for such purpose). Notwithstanding any other provision of this paragraph, a
Non-U.S. Lender shall not be required to deliver any form pursuant to this paragraph that such Non-U.S. Lender is not legally able to deliver. 
  
 (e) A Lender that is entitled to an exemption from or reduction of non-U.S. withholding tax under the law of the jurisdiction in which the Borrower is
located, or any treaty to which such jurisdiction is a party, with respect to payments under this Agreement shall deliver to the Borrower (with a copy to the Administrative Agent), at the time or times prescribed by applicable law or reasonably
requested by the Borrower, such properly completed and executed documentation prescribed by applicable law as will permit such payments to be made without withholding or at a reduced rate, provided that such Lender is legally entitled to
complete, execute and deliver such documentation and in such Lender’s good faith judgment such completion, execution or submission would not materially prejudice the legal position of such Lender. 
  
 (f) If the Administrative Agent or any Lender receives a refund in respect of
Non-Excluded Taxes or Other Taxes paid by the Borrower, which in the sole judgment of such Lender is allocable to such payment, it shall promptly pay such refund, together with any other amounts paid by the Borrower in connection with such refunded
Taxes or Other Taxes, to the Borrower, net of all out-of-pocket expenses of such Lender incurred in obtaining such refund, provided, however, that such Borrower agrees to promptly return such refund to the Administrative Agent or the
applicable Lender, as the case may be, if it receives notice from the Administrative Agent or applicable Lender that such Administrative Agent or Lender is required to repay such refund. 
  
 (g) The agreements in this Section shall survive the termination of this Agreement and the payment of the Loans and all
other amounts payable hereunder. 
  
 2.18 Indemnity. The
Borrower agrees to indemnify each Lender and to hold each Lender harmless from any loss or expense that such Lender may sustain or incur as a consequence of (a) default by the Borrower in making a borrowing of, conversion into or continuation of
Eurodollar Loans after the Borrower has given a notice requesting the same in accordance with the provisions of this Agreement, (b) default by the Borrower in making any prepayment of or conversion from Eurodollar Loans after the Borrower has given
a notice thereof in accordance with the provisions of this Agreement or (c) the making of a prepayment of Eurodollar Loans on a day that is not the last day of an Interest Period with respect thereto. Such indemnification may include an amount equal
to the excess, if any, of (i) the amount of interest that would have accrued on the amount so prepaid, or not so borrowed, converted or continued, for the period from the date of such prepayment or of such failure to borrow, convert or continue to
the last day of such Interest Period (or, in the case of a failure to borrow, convert or continue, the Interest Period that would have commenced on the date of such failure) in each case at the applicable rate of interest for such Loans provided for
herein (excluding, however, the Applicable Margin included therein, if any) over (ii) the amount of interest (as reasonably determined by such Lender) that would have accrued to such Lender on such amount by placing 

  

 35 

 
such amount on deposit for a comparable period with leading banks in the interbank eurodollar market. A certificate as to any amounts payable pursuant to
this Section submitted to the Borrower by any Lender shall be conclusive in the absence of manifest error. This covenant shall survive the termination of this Agreement and the payment of the Loans and all other amounts payable hereunder.

  
 2.19 Change of Lending Office. Each Lender agrees that,
upon the occurrence of any event giving rise to the operation of Section 2.16 or 2.17(a) with respect to such Lender, it will, if requested by the Borrower, use reasonable efforts (subject to overall policy considerations of such Lender) to
designate another lending office for any Loans affected by such event with the object of avoiding the consequences of such event; provided, that such designation is made on terms that, in the sole good faith judgment of such Lender, cause
such Lender and its lending office(s) to suffer no economic, legal or regulatory disadvantage, and provided, further, that nothing in this Section shall affect or postpone any of the obligations of any Borrower or the rights of any
Lender pursuant to Section 2.16 or 2.17(a). 
  
 2.20
Replacement of Lenders. The Borrower shall be permitted to replace any Lender that (a) requests reimbursement for amounts owing pursuant to Section 2.16 or 2.17(a) or (b) defaults in its obligation to make Loans hereunder, with a replacement
financial institution; provided that (i) such replacement does not conflict with any Requirement of Law, (ii) no Event of Default shall have occurred and be continuing at the time of such replacement, (iii) prior to any such replacement, such
Lender shall have taken no action under Section 2.19 so as to eliminate the continued need for payment of amounts owing pursuant to Section 2.16 or 2.17(a), (iv) the replacement financial institution shall purchase, at par, all Loans and other
amounts owing to such replaced Lender on or prior to the date of replacement, (v) the Borrower shall be liable to such replaced Lender under Section 2.18 if any Eurodollar Loan owing to such replaced Lender shall be purchased other than on the last
day of the Interest Period relating thereto, (vi) the replacement financial institution, if not already a Lender, shall be reasonably satisfactory to the Administrative Agent, which determination shall not be unreasonably delayed, (vii) the replaced
Lender shall be obligated to make such replacement in accordance with the provisions of Section 10.6 (provided that the Borrower shall be obligated to pay the registration and processing fee referred to therein), (viii) until such time as such
replacement shall be consummated, the Borrower shall pay all additional amounts (if any) required pursuant to Section 2.16 or 2.17(a), as the case may be, and (ix) any such replacement shall not be deemed to be a waiver of any rights that the
Borrower, the Administrative Agent or any other Lender shall have against the replaced Lender. 
  
 SECTION 3. LETTERS OF CREDIT 
  
 3.1 L/C Commitment. (a) Subject to the terms and conditions hereof, the Issuing Lender, in reliance on the agreements of the other Revolving Lenders set forth in Section 3.4(a), agrees to issue letters of credit (“Letters of
Credit”) for the account of the Borrower on any Business Day during the Revolving Commitment Period in such form as may be approved from time to time by the Issuing Lender; provided that the Issuing Lender shall have no obligation to
issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available Revolving Commitments would be less than zero. Each Letter of Credit shall (i)
be denominated in Dollars 

  

 36 

 
and (ii) have a term until expiry (or, if such Letter of Credit contemplates time drafts, a term through the maximum time draft period) ending no later than
the earlier of (x) the first anniversary of its date of issuance (except with the consent of the Majority Facility Lenders in respect of the Revolving Facility) and (y) the date that is five Business Days prior to the Scheduled Revolving Termination
Date, provided that any Letter of Credit may provide for the renewal thereof, with or without notice from the Issuing Lender, for successive periods of up to one year each (which shall in no event extend beyond the date referred to in clause
(y) above). 
  
 (b) The Issuing Lender shall not at any time be
obligated to issue any Letter of Credit hereunder if such issuance would conflict with, or cause the Issuing Lender or any L/C Participant to exceed any limits imposed by, any applicable Requirement of Law. 
  
 3.2 Procedure for Issuance of Letter of Credit. The Borrower may from
time to time request that the Issuing Lender issue a Letter of Credit by delivering to the Issuing Lender at its address for notices specified herein an Application therefor, completed to the reasonable satisfaction of the Issuing Lender, and such
other certificates, documents and other papers and information as the Issuing Lender may reasonably request. Upon receipt of any Application, the Issuing Lender will promptly process such Application and the certificates, documents and other papers
and information delivered to it in connection therewith in accordance with its customary procedures and shall promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit
earlier than three Business Days after its receipt of the Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof
or as otherwise may be agreed to by the Issuing Lender and the Borrower. The Issuing Lender shall furnish a copy of such Letter of Credit to the Borrower promptly following the issuance thereof. The Issuing Lender shall promptly furnish to the
Administrative Agent, which shall in turn promptly furnish to the Lenders, notice of the issuance of each Letter of Credit (including the amount thereof). 
  
 3.3 Fees and Other Charges. (a) The Borrower will pay a fee on all outstanding Letters of Credit at a per annum rate equal to the Applicable Margin
then in effect with respect to Eurodollar Loans under the Revolving Facility, shared ratably among the Revolving Lenders and payable quarterly in arrears on each L/C Fee Payment Date after the issuance date. In addition, the Borrower shall pay to
the Issuing Lender for its own account a fronting fee of 1/8 of 1% per annum on the average daily undrawn and unexpired amount of each Letter of Credit, payable quarterly in arrears on each L/C Fee Payment Date after the Issuance Date. 

 
 (b) In addition to the foregoing fees, the Borrower shall pay or reimburse
the Issuing Lender for such normal and customary costs and expenses as are incurred or charged by the Issuing Lender in issuing, negotiating, effecting payment under, amending or otherwise administering any Letter of Credit. 
  
 3.4 L/C Participations. (a) The Issuing Lender irrevocably agrees to
grant and hereby grants to each L/C Participant, and, to induce the Issuing Lender to issue Letters of Credit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from the Issuing Lender, on the
terms and conditions hereinafter stated, for such L/C Participant’s own account and risk an undivided interest equal to such L/C Participant’s 

  

 37 

 
Revolving Percentage in the Issuing Lender’s obligations and rights under each Letter of Credit issued hereunder and the amount of each draft paid by
the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with the Issuing Lender that, if a draft is paid under any Letter of Credit for which the Issuing Lender is not reimbursed in full by the Borrower in
accordance with the terms of this Agreement (or, if reimbursed, is required to be returned to the Borrower), such L/C Participant shall pay to the Issuing Lender upon demand at the Issuing Lender’s address for notices specified herein an amount
equal to such L/C Participant’s Revolving Percentage of the amount of such draft, or any part thereof, that is not so reimbursed (or, if reimbursed, is required to be returned to the Borrower). 
  
 (b) If any amount required to be paid by any L/C Participant to the Issuing
Lender pursuant to Section 3.4(a) in respect of any unreimbursed portion of any payment made by the Issuing Lender under any Letter of Credit is paid to the Issuing Lender within three Business Days after the date such payment is due, such L/C
Participant shall pay to the Issuing Lender on demand an amount equal to the product of (i) such amount, times (ii) the daily average Federal Funds Effective Rate during the period from and including the date such payment is required to the date on
which such payment is immediately available to the Issuing Lender, times (iii) a fraction the numerator of which is the number of days that elapse during such period and the denominator of which is 360. If any such amount required to be paid by any
L/C Participant pursuant to Section 3.4(a) is not made available to the Issuing Lender by such L/C Participant within three Business Days after the date such payment is due, the Issuing Lender shall be entitled to recover from such L/C Participant,
on demand, such amount with interest thereon calculated from such due date at the rate per annum applicable to ABR Loans under the Revolving Facility. A certificate of the Issuing Lender submitted to any L/C Participant with respect to any amounts
owing under this Section shall be conclusive in the absence of manifest error. 
  
 (c) Whenever, at any time after the Issuing Lender has made payment under any Letter of Credit and has received from any L/C Participant its pro rata share of such payment in accordance with Section
3.4(a), the Issuing Lender receives any payment related to such Letter of Credit (whether directly from the Borrower or otherwise, including proceeds of collateral applied thereto by the Issuing Lender), or any payment of interest on account
thereof, the Issuing Lender will distribute to such L/C Participant its pro rata share thereof; provided, however, that in the event that any such payment received by the Issuing Lender shall be required to be returned by
the Issuing Lender, such L/C Participant shall return to the Issuing Lender the portion thereof previously distributed by the Issuing Lender to it. 
  
 3.5 Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse the Issuing Lender on the Business Day immediately following the
date on which the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by the Issuing Lender for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or
expenses incurred by the Issuing Lender in connection with such payment. Each such payment shall be made to the Issuing Lender at its address for notices specified herein in lawful money of the United States and in immediately available funds.
Interest shall be payable on any and all amounts remaining unpaid by the Borrower under this Section from the date such amounts become payable (whether at stated maturity, by acceleration 

  

 38 

 
or otherwise) until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.12(b)
and (ii) thereafter, Section 2.12(c). 
  
 3.6 Obligations
Absolute. The Borrower’s obligations under this Section 3 shall be absolute and unconditional under any and all circumstances and irrespective of any setoff, counterclaim or defense to payment that the Borrower may have or have had against
the Issuing Lender, any beneficiary of a Letter of Credit or any other Person. The Borrower also agrees with the Issuing Lender that the Issuing Lender shall not be responsible for, and the Borrower’s Reimbursement Obligations under Section 3.5
shall not be affected by, among other things, the validity or genuineness of documents or of any endorsements thereon, even though such documents shall in fact prove to be invalid, fraudulent or forged, or any dispute between or among the Borrower
and any beneficiary of any Letter of Credit or any other party to which such Letter of Credit may be transferred or any claims whatsoever of the Borrower against any beneficiary of such Letter of Credit or any such transferee. The Issuing Lender
shall not be liable for any error, omission, interruption or delay in transmission, dispatch or delivery of any message or advice, however transmitted, in connection with any Letter of Credit, except for errors or omissions resulting from the gross
negligence or willful misconduct of the Issuing Lender. The Borrower agrees that any action taken or omitted by the Issuing Lender under or in connection with any Letter of Credit or the related drafts or documents, if done in the absence of gross
negligence or willful misconduct and in accordance with the standards of care specified in the Uniform Commercial Code of the State of New York, shall be binding on the Borrower and shall not result in any liability of the Issuing Lender to the
Borrower. 
  
 3.7 Letter of Credit Payments. If any draft
shall be presented for payment under any Letter of Credit, the Issuing Lender shall promptly notify the Borrower of the date and amount thereof. The responsibility of the Issuing Lender to the Borrower in connection with any draft presented for
payment under any Letter of Credit shall, in addition to any payment obligation expressly provided for in such Letter of Credit, be limited to determining that the documents (including each draft) delivered under such Letter of Credit in connection
with such presentment are substantially in conformity with such Letter of Credit. 
  
 3.8 Applications. To the extent that any provision of any Application related to any Letter of Credit is inconsistent with the provisions of this Section 3, the provisions of this Section 3 shall apply.

  
 SECTION 4. REPRESENTATIONS AND WARRANTIES 
  
 To induce the Administrative Agent and the Lenders to enter into this
Agreement and to make the Loans and issue or participate in the Letters of Credit, Holdings and the Borrower hereby jointly and severally represent and warrant to the Administrative Agent and each Lender that: 
  
 4.1 Financial Condition. (a) The unaudited pro forma
consolidated balance sheets of Holdings and its consolidated Subsidiaries and the Borrower and its consolidated Subsidiaries, respectively, as at the Closing Date (including the notes thereto) (the “Pro Forma Balance Sheets”),
copies of which have heretofore been furnished to each Lender, have been prepared giving effect (as if such events had occurred on such date) to (i) the consummation of 

  

 39 

 
the Transactions, (ii) the Loans to be made hereunder and the 2003 Senior Subordinated Notes to be issued on the Closing Date and the use of proceeds thereof
and (iii) the payment of fees and expenses in connection with the foregoing. The Pro Forma Balance Sheets have been prepared based on the best information available to Holdings or the Borrower as of the date of delivery thereof, and present fairly
on a pro forma basis the estimated financial position of Holdings and its consolidated Subsidiaries and the Borrower and its consolidated Subsidiaries, respectively, as at the Closing Date, assuming that the events specified in the
preceding sentence had actually occurred at such date. 
  
 (b) The
audited consolidated balance sheets of Holdings as at December 31, 2000, December 31, 2001 and December 31, 2002, and the related consolidated statements of income and of cash flows for the fiscal years ended on such dates, reported on by and
accompanied by an unqualified report from PricewaterhouseCoopers LLP, present fairly the consolidated financial condition of Holdings as at such dates, and the consolidated results of its operations and its consolidated cash flows for the fiscal
years then ended. The unaudited consolidating statements of income for the fiscal years ending December 31, 2000, December 31, 2001 and December 31, 2002, as the case may be, present fairly the financial condition of each business unit of Holdings.
The unaudited consolidated balance sheets of Holdings as at March 31, 2003 and June 30, 2003, and the related unaudited consolidated statements of income and of cash flows for each three-month quarterly period ended on such dates, present fairly the
consolidated financial condition of Holdings as at such dates, and the consolidated results of its operations and its consolidated cash flows for each three-month quarterly period then ended (subject to normal year-end audit adjustments). All such
financial statements, including the related schedules and notes thereto, have been prepared in accordance with GAAP applied consistently throughout the periods involved (except as approved by the aforementioned firm of accountants and disclosed
therein) and comply as to form in all material respects with the published rules and regulations of the SEC with respect thereto. Holdings and its Subsidiaries do not have any material Guarantee Obligations, contingent liabilities and liabilities
for taxes, or any long-term leases or unusual forward or long-term commitments, including any interest rate or foreign currency swap or exchange transaction or other obligation in respect of derivatives, that are not reflected in the most recent
financial statements referred to in this paragraph. During the period from June 30, 2003 to and including the date hereof there has been no Disposition by Holdings of any material part of its business or property. 
  
 4.2 No Change. Since December 31, 2002 there has been no development
or event that has had or is reasonably expected to have a Material Adverse Effect. 
  
 4.3 Existence; Compliance with Law. Each of Holdings, the Borrower and its Subsidiaries (a) is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization or
formation, (b) has the corporate or other organizational power and authority, and the legal right, to own and operate its property, to lease the property it operates as lessee and to conduct the business in which it is currently engaged, (c) is duly
qualified as a foreign corporation, partnership, limited liability company or other organization (as applicable) and in good standing under the laws of each jurisdiction where its ownership, lease or operation of property or the conduct of its
business requires such qualification, except to the extent that the failure to qualify as a foreign corporation, partnership, limited liability company or other organization (as applicable) or be in good standing could not reasonably be expected to

  

 40 

 
have a Material Adverse Effect and (d) is in compliance with all Requirements of Law except to the extent that the failure to comply therewith could not, in
the aggregate, reasonably be expected to have a Material Adverse Effect. 
  
 4.4 Power; Authorization; Enforceable Obligations. Each Loan Party has the corporate or other organizational power and authority, and the legal right, to make, deliver and perform the Loan Documents to which it
is a party and, in the case of the Borrower, to borrow hereunder. Each Loan Party has taken all necessary corporate or other organizational action to authorize the execution, delivery and performance of the Loan Documents to which it is a party and,
in the case of the Borrower, to authorize the borrowings on the terms and conditions of this Agreement. No consent or authorization of, filing with, notice to or other act by or in respect of, any Governmental Authority or any other Person is
required in connection with the borrowings hereunder or with the execution, delivery, performance, validity or enforceability of this Agreement or any of the Loan Documents, except (i) consents, authorizations, filings and notices described in
Schedule 4.4, which consents, authorizations, filings and notices have been obtained or made and are in full force and effect and (ii) the filings referred to in Section 4.19. Each Loan Document has been duly executed and delivered on behalf of each
Loan Party party thereto. This Agreement constitutes, and each other Loan Document upon execution will constitute, a legal, valid and binding obligation of each Loan Party party thereto, enforceable against each such Loan Party in accordance with
its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles (whether
enforcement is sought by proceedings in equity or at law). 
  
 4.5
No Legal Bar. The execution, delivery and performance of this Agreement and the other Loan Documents, the issuance of Letters of Credit, the borrowings hereunder and the use of the proceeds thereof will not violate or conflict with any
Requirement of Law or any material Contractual Obligation of Holdings, the Borrower or any of its Subsidiaries and will not result in, or require, the creation or imposition of any Lien on any of their respective properties or revenues pursuant to
any Requirement of Law or any such Contractual Obligation (other than the Liens created by the Security Documents). 
  
 4.6 Litigation. No litigation, investigation or proceeding of or before any arbitrator or Governmental Authority is pending or, to the knowledge of
Holdings or the Borrower, threatened by or against Holdings, the Borrower or any of its Subsidiaries or against any of their respective properties or revenues (a) with respect to any of the Loan Documents or any of the transactions contemplated
hereby or thereby, or (b) that is reasonably expected to have a Material Adverse Effect. 
  
 4.7 No Default. Neither Holdings, the Borrower nor its respective Subsidiaries is in default under or with respect to any of its Contractual Obligations in any respect that is reasonably expected to have a
Material Adverse Effect. No Default or Event of Default has occurred and is continuing. 
  
 4.8 Ownership of Property; Liens. (a) Each of Holdings, the Borrower and each of its Subsidiaries has title in fee simple to, or a valid leasehold interest in, all its real property, 

  

 41 

 
and good title to, or a valid leasehold interest in, all its other material property, and none of such property is subject to any Lien except as permitted by
Section 7.3. 
  
 (b) Neither Holdings, the Borrower nor any of
their Subsidiaries has title in fee simple to any real property having a value (together with improvements thereon) of greater than $2,500,000 (in the reasonable judgment of Holdings or the Borrower) on or before the Closing Date 
  
 4.9 Intellectual Property. Each of Holdings, the Borrower and each of
its Subsidiaries owns, or is licensed to use, all Intellectual Property material in the conduct of its business as currently conducted. No material claim has been asserted and is pending by any Person challenging or questioning the use of any
Intellectual Property or the validity or effectiveness of any Intellectual Property, nor does Holdings or the Borrower know of any valid basis for any such claim. The use of Intellectual Property by Holdings, the Borrower and its Subsidiaries does
not, to Borrower’s knowledge, infringe on the rights of any Person in any material respect. 
  
 4.10 Taxes. Each of Holdings, the Borrower and each of its Subsidiaries has filed or caused to be filed all Federal, state and other material tax
returns that are required to be filed and has paid all taxes shown to be due and payable on said returns or on any assessments made against it or any of its property and all other taxes, fees or other charges imposed on it or any of its property by
any Governmental Authority (other than any the amount or validity of which are currently being contested in good faith by appropriate proceedings and with respect to which reserves in conformity with GAAP have been provided on the books of Holdings,
the Borrower or its Subsidiaries, as the case may be); no tax Lien has been filed, and, to the knowledge of Holdings or the Borrower, no claim is being asserted, with respect to any such tax, fee or other charge. Such tax returns accurately reflect
in all material respects all liability for taxes of Holdings, the Borrower and its Subsidiaries for the periods covered thereby. 
  
 4.11 Federal Regulations. No part of the proceeds of any Loans will be used for “buying” or “carrying” any “margin
stock” within the respective meanings of each of the quoted terms under Regulation U in any manner that violates the provisions of the Regulations of the Board. If requested by any Lender or the Administrative Agent, the Borrower will furnish
to the Administrative Agent and each Lender a statement to the foregoing effect in conformity with the requirements of FR Form G-3 or FR Form U-1, as applicable, referred to in Regulation U. 
  
 4.12 Labor Matters. Except as, in the aggregate, could not reasonably
be expected to have a Material Adverse Effect: (a) there are no strikes or other labor disputes against Holdings, the Borrower or any of its Subsidiaries pending or, to the knowledge of Holdings or the Borrower, threatened; (b) hours worked by and
payment made to employees of Holdings, the Borrower or any of its Subsidiaries have not been in violation of the Fair Labor Standards Act or any other applicable Requirement of Law dealing with such matters; and (c) all payments due from Holdings,
the Borrower or any of its Subsidiaries on account of employee health and welfare insurance have been paid or accrued as a liability on the books of Holdings, the Borrower or the relevant Subsidiary. 
  

 42 

 4.13 ERISA. Neither a Reportable Event nor an “accumulated funding deficiency” (within
the meaning of Section 412 of the Code or Section 302 of ERISA) has occurred during the five-year period prior to the date on which this representation is made or deemed made with respect to any Plan, and each Plan has complied in all material
respects with the applicable provisions of ERISA and the Code. No termination of a Single Employer Plan has occurred, and no Lien in favor of the PBGC or a Plan has arisen, during such five-year period. The present value of all accrued benefits
under each Single Employer Plan (based on those assumptions used to fund such Plans) did not, as of the last annual valuation date prior to the date on which this representation is made or deemed made, exceed the value of the assets of such Plan
allocable to such accrued benefits by a material amount. Neither the Borrower nor any Commonly Controlled Entity has had a complete or partial withdrawal from any Multiemployer Plan that has resulted or could reasonably be expected to result in a
material liability under ERISA, and neither the Borrower nor any Commonly Controlled Entity would become subject to any material liability under ERISA if the Borrower or any such Commonly Controlled Entity were to withdraw completely from all
Multiemployer Plans as of the valuation date most closely preceding the date on which this representation is made or deemed made. No such Multiemployer Plan is in Reorganization or Insolvent. 
  
 4.14 Investment Company Act; Other Regulations. No Loan Party is an
“investment company”, or a company “controlled” by an “investment company”, within the meaning of the Investment Company Act of 1940, as amended. No Loan Party is subject to regulation under any Requirement of Law
(other than Regulation X of the Board) that limits its ability to incur Indebtedness. 
  
 4.15 Subsidiaries. Except as disclosed to the Administrative Agent by the Borrower in writing from time to time after the Closing Date, (a) Schedule 4.15 sets forth the name and jurisdiction of incorporation or
formation of each Subsidiary and, as to each such Subsidiary, the percentage of each class of Capital Stock owned by any Loan Party and (b) except as set forth on Schedule 4.15 there are no outstanding subscriptions, options, warrants, calls, rights
or other agreements or commitments (other than stock options granted to employees or directors and directors’ qualifying shares) of any nature relating to any Capital Stock of the Borrower or any Subsidiary, except as created by the Loan
Documents. 
  
 4.16 Use of Proceeds. The proceeds of the
Term Loans shall be used to finance a portion of the Transactions and to pay related fees and expenses. The proceeds of the Revolving Loans, and the Letters of Credit, shall be used to finance a portion of the Transactions and for general corporate
purposes, including to finance the working capital needs of the Borrower and its Subsidiaries and, subject to Section 7.8, their acquisitions of Capital Stock or ownership interests of, and investments in, other Persons. 
  
 4.17 Environmental Matters. Except as, in the aggregate, could not
reasonably be expected to have a Material Adverse Effect: 
  
 (a) the facilities and properties owned, leased or operated by Holdings, the Borrower or any of its Subsidiaries (the “Properties”) do not contain, and have not previously contained, any Materials of
Environmental Concern in amounts or 

  

 43 

 
concentrations or under circumstances that constitute or constituted a violation of, or could reasonably be expected to give rise to liability under, any
Environmental Law; 
  
 (b) neither Holdings, the
Borrower nor any of its Subsidiaries has received or is aware of any notice of violation, alleged violation, non-compliance, liability or potential liability regarding environmental matters or compliance with Environmental Laws with regard to any of
the Properties or the business operated by Holdings, the Borrower or any of its Subsidiaries (the “Business”), nor does Holdings or the Borrower have knowledge or reason to believe that any such notice will be received or is being
threatened; 
  
 (c) Materials of Environmental
Concern have not been transported or disposed of from the Properties in violation of, or in a manner or to a location that could reasonably be expected to give rise to liability under, any Environmental Law, nor have any Materials of Environmental
Concern been generated, treated, stored or disposed of at, on or under any of the Properties in violation of, or in a manner that could give rise to liability under, any applicable Environmental Law; 
  
 (d) no judicial proceeding or governmental or administrative
action is pending or, to the knowledge of Holdings or the Borrower, threatened, under any Environmental Law to which Holdings, the Borrower or any Subsidiary is or will be named as a party, nor are there any consent decrees or other decrees, consent
orders, administrative orders or other orders, or other administrative or judicial requirements outstanding under any Environmental Law with respect to the Properties or the Business; 
  
 (e) there has been no release or threat of release of Materials of Environmental Concern at or from the
Properties, or arising from or related to the operations of Holdings, the Borrower or any Subsidiary in connection with the Properties or otherwise in connection with the Business, in violation of or in amounts or in a manner that could give rise to
liability under Environmental Laws; 
  
 (f) the
Properties and all operations at the Properties are in compliance, and have in the last five years been in compliance, with all applicable Environmental Laws, and there is no contamination at, under or about the Properties or violation of any
Environmental Law with respect to the Properties or the Business; and 
  
 (g) neither Holdings, the Borrower nor any of its Subsidiaries has retained or assumed any liability of any other Person under Environmental Laws. 
  
 4.18 Accuracy of Information, etc. No statement or information contained in this Agreement, any other Loan Document
or any other document, certificate or written statement furnished by or on behalf of any Loan Party to the Administrative Agent or the Lenders, or any of them, for use in connection with the transactions contemplated by this Agreement or the other
Loan Documents, contained as of the date such statement, information, document or certificate was so furnished (or, in the case of the Confidential Information Memorandum, as of the date of this Agreement), any untrue statement of a material fact or
omitted to state a material fact necessary to make the statements contained herein or therein not misleading, provided, that with respect to any statement or information furnished on behalf of any Loan Party by any other 

  

 44 

 
Person that is not a Loan Party, the representation and warranty set forth in this Section 4.18 is limited to such Loan Party’s best knowledge. The
projections and pro forma financial information contained in the materials referenced above are based upon good faith estimates and assumptions believed by management of Holdings and the Borrower to be reasonable at the time made, it
being recognized by the Lenders that such financial information as it relates to future events is not to be viewed as fact and that actual results during the period or periods covered by such financial information may differ from the projected
results set forth therein by a material amount. There is no fact known to any Loan Party that is reasonably expected to have a Material Adverse Effect that has not been expressly disclosed herein, in the other Loan Documents or in any other
documents, certificates and statements furnished to the Administrative Agent and the Lenders for use in connection with the transactions contemplated hereby and by the other Loan Documents. 
  
 4.19 Security Documents. (a) The Guarantee and Collateral Agreement is
effective to create in favor of the Administrative Agent, for the benefit of the Lenders, a legal, valid and enforceable security interest in the Collateral described therein, all rights, title or interest thereto and proceeds thereof. In the case
of the Pledged Stock described in the Guarantee and Collateral Agreement, when stock certificates representing such Pledged Stock are delivered to the Administrative Agent, and in the case of the other Collateral described in the Guarantee and
Collateral Agreement, when financing statements and other filings specified on Schedule 4.19 in appropriate form are filed in the offices specified on Schedule 4.19, the Guarantee and Collateral Agreement shall constitute a fully perfected Lien on,
and security interest in, all right, title and interest of the Loan Parties in such Collateral and the proceeds thereof, as security for the Obligations (as defined in the Guarantee and Collateral Agreement), in each case prior and superior in right
to any other Person (except, in the case of Collateral other than Pledged Stock, Liens permitted by Section 7.3). 
  
 (b) Schedule 4.19(b) lists each of the real properties in the United States owned in fee simple by the Borrower or any of its Subsidiaries on the Closing
Date. No Liens or Mortgages shall be created under this Agreement on, and no Lenders shall have any security interests in, the real property owned on the Closing Date by the Borrower or any of its Subsidiaries. 
  
 4.20 Solvency. Each Loan Party is, and after giving effect to the
incurrence of all Indebtedness and obligations being incurred in connection herewith will be and will continue to be, Solvent. 
  
 4.21 Senior Indebtedness. The Obligations constitute “Senior Indebtedness” of the Borrower under and as defined in the Senior
Subordinated Note Indentures. The obligations of each Subsidiary Guarantor under the Guarantee and Collateral Agreement constitute “Guarantor Senior Indebtedness” of such Subsidiary Guarantor under and as defined in the Senior Subordinated
Note Indentures. 
  
 4.22 Insurance. The insurance
maintained by or reserved against on the books of Holdings, the Borrower and its Subsidiaries is sufficient to protect Holdings, the Borrower and its Subsidiaries against such risks as are usually insured against in the same general area by
companies engaged in the same or similar business. None of the Loan Parties or any of their 

  

 45 

 
Subsidiaries is in default under any provisions of any such policy of insurance the result of which could reasonably be expected to cause a cancellation of
such policy of insurance or to limit or delay the entitlement to any payment thereunder or has received notice of cancellation of any such insurance (other than in connection with the replacement of any such policy). None of the Loan Parties or any
of their Subsidiaries has made any material claims under any policy of insurance with respect to which the insurance carrier has denied liability. 
  
 4.23 Certain Documents. The Borrower has delivered to the Administrative Agent a complete and correct copy of the 1999 Senior Subordinated Note
Indenture, the 2003 Senior Subordinated Note Indenture, the Senior Discount Debenture Purchase Agreement, the Senior Discount Debenture Indenture, and all other documents reasonably requested by the Administrative Agent, including any amendments,
supplements or modifications with respect to any of the foregoing. 
  
 SECTION 5. CONDITIONS PRECEDENT 
  
 5.1 Conditions to
Initial Extension of Credit. The agreement of each Lender to make the initial extension of credit requested to be made by it is subject to the satisfaction, prior to or concurrently with the making of such extension of credit on the Closing
Date, of the following conditions precedent: 
  
 (a) Credit Agreement; Guarantee and Collateral Agreement. The Administrative Agent shall have received (i) this Agreement, executed and delivered by the Administrative Agent, Holdings, the Borrower and each Person listed on Schedule
1.1, (ii) each Note requested by a Lender, the Guarantee and Collateral Agreement, executed and delivered by Holdings, the Borrower and each Subsidiary Guarantor, and (iii) an Acknowledgment and Consent in the form attached to the Guarantee and
Collateral Agreement, executed and delivered by each Issuer (as defined therein), if any, that is not a Loan Party. 
  
 In the event that this Agreement has not been duly executed and delivered by each Person listed on Schedule 1.1 on the date scheduled to
be the Closing Date, the condition referred to in clause (i) above shall nevertheless be deemed satisfied if on such date the Borrower and the Administrative Agent shall have designated one or more Persons (the “Designated Lenders”)
to assume, in the aggregate, all of the Commitments that would have been held by the Persons listed on Schedule 1.1 (the “Non-Executing Persons”) which have not so executed and delivered this Agreement (subject to each such
Designated Lender’s consent and its execution and delivery of this Agreement). Schedule 1.1 shall automatically be deemed to be amended to reflect the respective Commitments of the Designated Lenders and the omission of the Non-Executing
Persons as Lenders hereunder. 
  
 (b)
Transactions. The following transactions shall have been consummated, in each case on terms and conditions reasonably satisfactory to the Lenders: 
  
 (i) the Borrower shall have received at least $150,000,000 in gross cash proceeds from the issuance of the 2003 Senior Subordinated Notes
(the “2003 

  

 46 

 
Issuance”) and shall have used all such proceeds to consummate a portion of the Transactions; 
  
 (ii) the Administrative Agent shall have received
satisfactory evidence that the fees and expenses to be incurred in connection with the Transactions shall not exceed $16,000,000 in the aggregate; and 
  
 (iii) The Administrative Agent shall have received satisfactory evidence that (A) the $475,000,000 Amended and Restated Credit Agreement,
dated as of March 21, 2000, among Holdings, the lenders therein, JPMorgan Chase Bank, as administrative agent thereunder, and Credit Suisse First Boston and Fleet National Bank, as co-documentation agents thereunder shall have been repaid in full
(the “Bank Debt Repayment”), (B) approximately $138,726,372 shall be paid in partial redemption of the Senior Discount Debentures (the “Redemption”) on the Business Day following the Closing Date with the proceeds
of an intercompany loan from the Borrower to Holdings (the “Intercompany Loan”), (C) all outstanding Hedge Agreements of the Borrower shall have been retired and terminated (the “Hedge Retirement”), and (D) other
Indebtedness of Holdings and its Subsidiaries (other than amounts outstanding as permitted hereunder) shall have been repaid, redeemed, repurchased or terminated and all amounts payable in connection therewith shall have been indefeasibly paid in
full (the “Refinancing”, together with the 2003 Issuance, the Bank Debt Repayment, the Redemption, the Intercompany Loan and the Hedge Retirement, collectively, the “Transactions”), and satisfactory arrangements
shall have been made for the termination of all Liens granted in connection therewith. 
  
 Immediately after the Closing Date, neither Holdings nor the Borrower nor any of their respective Subsidiaries shall have any Indebtedness other than (A) the 2003 Senior Subordinated Notes, (B) the 1999 Senior
Subordinated Notes, (C) the Senior Discount Debentures, (D) the 2002 Holdings Bridge Notes, (E) the Intercompany Loan, (F) the Loans, (G) any Letters of Credit outstanding, and (H) other Indebtedness to the extent permitted by Section 7.2.

  
 (c) Pro Forma Balance Sheets; Financial
Statements. The Lenders shall have received satisfactory (i) Pro Forma Balance Sheets, (ii) audited consolidated balance sheets of Holdings as at December 31, 2000, December 31, 2001 and December 31, 2002, and the related consolidated statements
of income and of cash flows for the fiscal years ended on such dates, reported on by and accompanied by an unqualified report from PricewaterhouseCoopers LLP, (iii) unaudited consolidating statements of income of Holdings (calculated on a business
unit basis) for the fiscal years ended on December 31, 2000, December 31, 2001 and December 31, 2002, (iv) unaudited consolidated balance sheets of Holdings as at March 31, 2003 and June 30, 2003, and the related unaudited consolidated statements of
income and of cash flows for each three-month quarterly period ended on such dates, and (v) unaudited consolidating statements of income of Holdings (calculated on a business unit basis) for each three-month quarterly period ended on March 31, 2003
and June 30, 2003. 
  

 47 

 (d) Approvals. All governmental and third party approvals necessary or in the
reasonable judgment of the Administrative Agent, advisable in connection with the Transactions, the continuing operations of Holdings, the Borrower and its Subsidiaries and the financings and transactions contemplated hereby shall have been obtained
and be in full force and effect, and all applicable waiting periods shall have expired without any action being taken or threatened by any competent authority that would restrain, prevent or otherwise impose materially adverse conditions on the
Transactions or the financings and transactions contemplated hereby. 
  
 (e) Lien Searches. The Administrative Agent shall have received the results of a recent lien search in each of the jurisdictions listed for each of the Loan Parties on Schedule 4.19, and such search shall
reveal no liens on any of the assets of Holdings, the Borrower or its Subsidiaries except for liens permitted by Section 7.3 or discharged on or prior to the Closing Date pursuant to documentation satisfactory to the Administrative Agent.

  
 (f) Fees. The Lenders, the
Administrative Agent and the Other Representatives shall have received all fees required to be paid, and all expenses required to be reimbursed and for which invoices have been presented (including the reasonable fees and expenses of legal counsel),
on or before the Closing Date. All such amounts will be paid with proceeds of Loans made on the Closing Date and will be reflected in the funding instructions given by the Borrower to the Administrative Agent on or before the Closing Date.

  
 (g) Closing Certificate. The
Administrative Agent shall have received, with a counterpart for each Lender, a certificate of each Loan Party, dated the Closing Date, substantially in the form of Exhibit C, with appropriate insertions and attachments. 
  
 (h) Legal Opinions. The Administrative Agent shall
have received the following executed legal opinions: 
  
 (i) the legal opinion of Vinson & Elkins L.L.P., counsel to Holdings, the Borrower and its Subsidiaries, substantially in the form of Exhibit E-1; 
  

(ii) the legal opinion of Richard A. Parr, general counsel of Holdings, the Borrower and its Subsidiaries, substantially in the form of
Exhibit E-2; 
  
 (iii) the legal opinion of
Schreck Brignone, Nevada counsel to the Borrower and certain Subsidiaries, substantially in the form of Exhibit E-3; and 
  
 (iv) the legal opinion of McDermott, Will & Emery, Massachusetts counsel to certain Subsidiaries, substantially in the form of Exhibit
E-4. 
  
 Each such legal opinion, reports and other documents
shall cover such other matters incident to the transactions contemplated by this Agreement as the Administrative Agent may reasonably require. 
  

 48 

 (i) Projections. The Lenders shall have received projections of Holdings and the
Borrower through the 2009 fiscal year, in form and substance satisfactory to the Lenders. 
  
 (j) Credit Ratings. The Borrower shall have obtained minimum ratings for either senior secured debt or the Loans of no lower than
“B+” from S&P and “B1” from Moody’s. 
  
 (k) Pledged Stock; Stock Powers; Pledged Notes. The Administrative Agent shall have received (i) the certificates (as applicable) representing the shares of Capital Stock pledged pursuant to the Guarantee and
Collateral Agreement, together with (as applicable) an undated stock power for each such certificate executed in blank by a duly authorized officer of the pledgor thereof and (ii) each promissory note (if any) pledged to the Administrative Agent
pursuant to the Guarantee and Collateral Agreement endorsed (without recourse) in blank (or accompanied by an executed transfer form in blank) by the pledgor thereof. 
  
 (l) Filings, Registrations and Recordings. Each document (including any Uniform Commercial Code
financing statement) required by the Security Documents or reasonably requested by the Administrative Agent to be filed, registered or recorded in order to create in favor of the Administrative Agent, for the benefit of the Lenders, a perfected Lien
on the Collateral described therein, prior and superior in right to any other Person (other than with respect to Liens expressly permitted by Section 7.3), shall be in proper form for filing, registration or recordation. 
  
 (m) Insurance. The Administrative Agent shall have
received insurance certificates satisfying the requirements of Section 5.2(b) of the Guarantee and Collateral Agreement, which insurance (applicable on and after the Closing Date) shall be reasonably satisfactory to the Administrative Agent.

  
 5.2 Conditions to Each Extension of Credit. The
agreement of each Lender to make any extension of credit requested to be made by it on any date (including its initial extension of credit) is subject to the satisfaction of the following conditions precedent: 
  
 (a) Representations and Warranties. Each of the
representations and warranties made by any Loan Party in or pursuant to the Loan Documents shall be true and correct on and as of such date as if made on and as of such date, except to the extent that such representation and warranty is expressly
limited by its terms to an earlier date. 
  
 (b)
No Default. No Default or Event of Default shall have occurred and be continuing on such date or after giving effect to the extensions of credit requested to be made on such date. 
  
 Each borrowing by and issuance of a Letter of Credit on behalf of the Borrower hereunder shall constitute a representation and warranty by
the Borrower as of the date of such extension of credit that the conditions contained in this Section 5.2 have been satisfied. 
  

 49 

 SECTION 6. AFFIRMATIVE COVENANTS 
  
 Holdings and the Borrower hereby jointly and severally agree that, so long as the Commitments remain in effect, any Letter
of Credit remains outstanding (unless cash in an amount equal to the aggregate amount of the L/C Obligations outstanding has been deposited in a cash collateral account established by the Administrative Agent) or any Loan or other amount is owing to
any Lender or the Administrative Agent hereunder, each of Holdings and the Borrower shall and shall cause each of its Subsidiaries to: 
  
 6.1 Financial Statements. Furnish to the Administrative Agent and each Lender: 
  
 (a) as soon as available, but in any event within 95 days
after the end of each fiscal year (or not later than two (2) Business Days after such earlier filing date as may be required by the SEC): 
  
 (i) of the Borrower, copies of (A) the audited consolidated balance sheets of the Borrower and its consolidated Subsidiaries as at the end of such year
and the related audited consolidated statements of income and of cash flows for such year, setting forth in comparative form the figures for the previous year, reported on without a “going concern” or like qualification or exception, or
qualification arising out of the scope of the audit, by independent certified public accountants of nationally recognized standing, and (B) the unaudited consolidating statements of income of the Borrower for such year (calculated on a business unit
basis), setting forth in comparative form the figures for the previous year, certified by a Responsible Officer as being fairly stated in all material respects (subject to normal year-end audit adjustments and the absence of notes thereto); and

  
 (ii) of Holdings, copies of unaudited consolidated balance
sheets of Holdings and its consolidated Subsidiaries as at the end of such year and the related unaudited consolidated statements of income and of cash flows for such year, setting forth in comparative form the figures for the previous year,
certified by a Responsible Officer as being fairly stated in all material respects (subject to normal year-end audit adjustments and the absence of notes thereto); 
  
 (b) as soon as available, but in any event not later than 50 days after the end of each of the first three
quarterly periods of each fiscal year (or not later than two (2) Business Days after such earlier filing date as may be required by the SEC): 
  
 (i) of the Borrower, a copy of (A) the unaudited consolidated balance sheets of the Borrower and its consolidated Subsidiaries as at the end of such
quarter and the related unaudited consolidated statements of income for such quarter and the portion of the fiscal year through the end of such quarter and of cash flows for such portion of such fiscal year, and (B) the unaudited consolidating
statements of income of the Borrower for such quarter and the portion of the fiscal year through the end of such quarter (calculated on a business unit basis), setting forth in each case in comparative form the figures for the previous year,
certified by a 

  

 50 

 
Responsible Officer as being fairly stated in all material respects (subject to normal year-end audit adjustments and the absence of notes thereto); and

  
 (ii) of Holdings, a copy of the unaudited consolidated
balance sheets of Holdings and its consolidated Subsidiaries as at the end of such quarter and the related unaudited consolidated statements of income for such quarter and the portion of the fiscal year through the end of such quarter and of cash
flows for such portion of such fiscal year, setting forth in comparative form the figures for the previous year, certified by a Responsible Officer as being fairly stated in all material respects (subject to normal year-end audit adjustments and the
absence of notes thereto); and 
  
 (c) prior to
an IPO, as soon as available, but in any event not later than 50 days after the end of each month occurring during each fiscal year (other than the third, sixth, ninth and twelfth such month): 
  
 (i) of the Borrower, a copy of (A) the unaudited consolidated balance sheets
of the Borrower and its consolidated Subsidiaries as at the end of such month and the related unaudited consolidated statements of income and of cash flows for such month and the portion of the fiscal year through the end of such month, and (B) the
unaudited consolidating statements of income of the Borrower for such month and the portion of the fiscal year through the end of such month (calculated on a business unit basis), setting forth in each case in comparative form the figures for the
previous year, certified by a Responsible Officer as being fairly stated in all material respects (subject to normal year-end audit adjustments and the absence of notes thereto); and 
  
 (ii) of Holdings, a copy of the unaudited consolidated balance sheets of Holdings and its consolidated Subsidiaries as at
the end of such month and the related unaudited consolidated statements of income for such month and the portion of the fiscal year through the end of such month and of cash flows for such portion of such fiscal year, setting forth in comparative
form the figures for the previous year, certified by a Responsible Officer as being fairly stated in all material respects (subject to normal year-end audit adjustments and the absence of notes thereto). 
  
 provided; that the reporting required by this paragraph (c) shall not
apply at any time that the Consolidated Leverage Ratio is at or less than 4.00 to 1.00. 
  
 All such financial statements shall be complete and correct in all material respects and shall be prepared in reasonable detail and in accordance with GAAP applied consistently throughout the periods reflected therein and with prior periods
(except as approved by such accountants or officer, as the case may be, and disclosed therein and, with respect to unaudited financial statements as set forth in this Section 6.1, subject, where appropriate, to normal year-end audit adjustments and
the absence of notes thereto). 
  

 51 

 In lieu of furnishing the Lenders the items referred to in this Section 6.1, the Borrower may make available such items
on the Borrower’s IntraLinks website or at such other website as notified to the Administrative Agent and the Lenders. 
  
 6.2 Certificates; Other Information. Furnish to the Administrative Agent and each Lender (or, in the case of clause (g), to the relevant Lender):

  
 (a) concurrently with the delivery of the
financial statements referred to in Section 6.1(a), a certificate of the independent certified public accountants reporting on such financial statements stating that in making the examination necessary therefor no knowledge was obtained of any
Default or Event of Default, except as specified in such certificate; 
  
 (b) concurrently with the delivery of any financial statements pursuant to Section 6.1, (i) a certificate of a Responsible Officer stating that, to the best of such Responsible Officer’s knowledge, each Loan
Party during such period has observed or performed all of its covenants and other agreements, and satisfied every condition, contained in this Agreement and the other Loan Documents to which it is a party to be observed, performed or satisfied by
it, and that such Responsible Officer has obtained no knowledge of any Default or Event of Default except as specified in such certificate and (ii) in the case of quarterly or annual financial statements, (x) a Compliance Certificate containing all
information and calculations necessary for determining compliance by Holdings, the Borrower and its Subsidiaries with the provisions of this Agreement referred to therein as of the last day of the fiscal quarter or fiscal year of the Borrower, as
the case may be, and (y) to the extent not previously disclosed to the Administrative Agent, a listing of any Intellectual Property acquired by any Loan Party since the date of the most recent list delivered pursuant to this clause (y) (or, in the
case of the first such list so delivered, since the Closing Date); 
  
 (c) as soon as available, and in any event within 60 days after the beginning of each fiscal year of the Borrower, a detailed consolidated budget for such fiscal year (including a projected consolidated balance sheet
of the Borrower and its Subsidiaries as of the end of such fiscal year, the related consolidated statements of projected cash flow and projected income and a description of the underlying assumptions applicable thereto), and, as soon as available,
significant revisions, if any, of such budget and projections, which revisions, in the reasonable judgment of the Borrower, are necessary to make the information contained in such budget and projections not materially misleading or inaccurate, with
respect to such fiscal year (collectively, the “Projections”), which Projections shall in each case be accompanied by a certificate of a Responsible Officer stating that such Projections are based on reasonable estimates,
information and assumptions and that such Responsible Officer has no reason to believe that such Projections are incorrect or misleading in any material respect; 
  
 (d) within 50 days after the end of each fiscal quarter of the Borrower, a narrative discussion and analysis
of the financial condition and results of operations of the Borrower and its Subsidiaries for such fiscal quarter and for the period from the beginning of the then current fiscal year to the end of such fiscal quarter, as compared to 

  

 52 

 
the portion of the Projections covering such periods and to the comparable periods of the previous year, to the extent filings with the SEC by or on behalf
of the Borrower in which such narrative discussion and analysis are presented shall no longer be required or made; 
  
 (e) no later than five Business Days prior to the effectiveness thereof, copies of substantially final drafts of any proposed amendment,
supplement, waiver or other modification with respect to the Senior Subordinated Note Indentures, the Senior Discount Debenture Purchase Agreement, the Senior Discount Debenture Indenture or the documentation for any Senior Discount Debenture
Refinancing; 
  
 (f) within 10 days after the
same are sent, copies of all financial statements and reports that Holdings or the Borrower sends to the holders of any class of its debt securities or public equity securities and, within 10 days after the same are filed, copies of all financial
statements and reports that Holdings or the Borrower may make to, or file with, the SEC; and 
  
 (g) promptly, such additional financial and other information as any Lender may from time to time reasonably request. 
  
 6.3 Payment of Obligations. Pay, discharge or otherwise satisfy at or
before maturity or before they become delinquent, as the case may be, all its obligations of whatever nature, except where the amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves in
conformity with GAAP with respect thereto have been provided on the books of Holdings, the Borrower or its Subsidiaries, as the case may be, and except where the failure to pay, discharge or satisfy the obligations could not reasonably be expected
to have a Material Adverse Effect. 
  
 6.4 Maintenance of
Existence; Compliance. (a) (i) Preserve, renew and keep in full force and effect its corporate or other organizational existence and business and (ii) take all reasonable action to maintain all rights, privileges and franchises necessary or
desirable in the normal conduct of its business, except, in each case, as otherwise permitted by Section 7.4 and except, in the case of clause (ii) above, to the extent that failure to do so could not reasonably be expected to have a Material
Adverse Effect; and (b) comply with all Contractual Obligations and Requirements of Law except to the extent that failure to comply therewith could not, in the aggregate, reasonably be expected to have a Material Adverse Effect. 
  
 6.5 Maintenance of Property; Insurance. (a) Keep all property material
and necessary in its business in good working order and condition, ordinary wear and tear excepted and (b) maintain with financially sound and reputable insurance companies insurance on all its property in at least such amounts and against at least
such risks (but including in any event public liability, product liability and business interruption) as are usually insured against in the same general area by companies engaged in the same or a similar business. 
  
 6.6 Inspection of Property; Books and Records; Discussions. (a) Keep
proper books of records and account in which entries in conformity with GAAP and all Requirements of Law shall be made of all dealings and transactions in relation to its business and activities and (b) permit representatives of any Lender to visit
and inspect any of its properties and examine 

  

 53 

 
and make abstracts from any of its books and records at any reasonable time and as often as may reasonably be desired and to discuss the business,
operations, properties and financial and other condition of Holdings, the Borrower and its Subsidiaries with officers and employees of Holdings, the Borrower and its Subsidiaries and with its independent certified public accountants. In the event
multiple Lenders separately request such a visit, inspection or discussion in substantially the same time period, such Lenders shall comply with reasonable requests by the Borrower to coordinate the same. 
  
 6.7 Notices. Promptly after Holdings, the Borrower or any Subsidiary,
has obtained knowledge thereof, give notice to the Administrative Agent and each Lender of: 
  
 (a) the occurrence of any Default or Event of Default; 
  
 (b) any (i) default or event of default under any Contractual Obligation of Holdings, the Borrower or any of its Subsidiaries or (ii) litigation, investigation or proceeding that may exist at any time between
Holdings, the Borrower or any of its Subsidiaries and any Governmental Authority, that in either case, if not cured or if adversely determined, as the case may be, could reasonably be expected to have a Material Adverse Effect; 
  
 (c) any litigation or proceeding affecting Holdings, the Borrower or any of
its Subsidiaries in which the amount involved is $2,000,000 or more and not covered by insurance or in which injunctive or similar relief (the result of which could reasonably be expected to have a Material Adverse Effect) is sought; 
  
 (d) any of the following events that could reasonably be expected to create
or be a material liability, as soon as possible and in any event within 30 days after the Borrower knows or has reason to know thereof: (i) the occurrence of any Reportable Event with respect to any Plan, a failure to make any required contribution
to a Plan, the creation of any Lien in favor of the PBGC or a Plan or any withdrawal from, or the termination, Reorganization or Insolvency of, any Multiemployer Plan or (ii) the institution of proceedings or the taking of any other action by the
PBGC or the Borrower or any Commonly Controlled Entity or any Multiemployer Plan with respect to the withdrawal from, or the termination, Reorganization or Insolvency of, any Plan; and 
  
 (e) any other development or event that has had or could reasonably be expected to have a Material Adverse Effect.

  
 Each notice pursuant to this Section 6.7 shall be accompanied by a statement
of a Responsible Officer setting forth details of the occurrence referred to therein and stating what action Holdings, the Borrower or the relevant Subsidiary proposes to take with respect thereto. 
  
 6.8 Environmental Laws. (a) Comply in all material respects with, and
use all reasonable efforts to ensure compliance in all material respects by all tenants and subtenants, if any, with, all applicable Environmental Laws, and obtain and comply in all material respects with and maintain, and use all reasonable efforts
to ensure that all tenants and subtenants obtain and comply in all material respects with and maintain, any and all licenses, approvals, notifications, registrations or permits required by applicable Environmental Laws. 
  

 54 

 (b) Conduct and complete all investigations, studies, sampling and testing, and all remedial, removal and
other actions required under Environmental Laws and promptly comply in all material respects with all lawful orders and directives of all Governmental Authorities regarding Environmental Laws. 
  
 6.9 Additional Collateral, etc. (a) With respect to any property
acquired after the Closing Date by Holdings, the Borrower or any of its Subsidiaries (other than (x) any property described in paragraph (b), (c) or (d) below, (y) any property subject to a Lien expressly permitted by Section 7.3(g) and (z) property
acquired by any Excluded Foreign Subsidiary) as to which the Administrative Agent, for the benefit of the Lenders, does not have a perfected Lien, promptly (i) execute and deliver to the Administrative Agent such amendments to the Guarantee and
Collateral Agreement or such other documents as the Administrative Agent deems necessary or advisable to grant to the Administrative Agent, for the benefit of the Lenders, a security interest in such property and (ii) take all actions necessary or
advisable to grant to the Administrative Agent, for the benefit of the Lenders, a perfected first priority security interest in such property, including the filing of Uniform Commercial Code financing statements in such jurisdictions as may be
required by the Guarantee and Collateral Agreement or by law or as may be requested by the Administrative Agent. Notwithstanding the foregoing, neither Holdings nor the Borrower shall be required, and the Borrower shall not be required to cause each
of its Subsidiaries, to take any actions or accept any contract terms which could reasonably be expected to have a Material Adverse Effect or cause undue hardship or excessive costs to Holdings, the Borrower or such Subsidiary, as the case may be,
in order to obtain the necessary consents to an assignment of its rights, title and interest in the Collateral. 
  
 (b) With respect to any fee interest in any real property having a value (together with improvements thereof) of at least $2,500,000 acquired after the
Closing Date by Holdings, the Borrower or any of its Subsidiaries (other than (x) any such real property subject to a Lien expressly permitted by Section 7.3(g) and (y) real property acquired by any Excluded Foreign Subsidiary), promptly (i) execute
and deliver a first priority Mortgage, in favor of the Administrative Agent, for the benefit of the Lenders, covering such real property, (ii) if requested by the Administrative Agent, provide the Lenders with (x) title and extended coverage
insurance covering such real property in an amount at least equal to the purchase price of such real property (or such other amount as shall be reasonably specified by the Administrative Agent) as well as a current ALTA survey thereof, together with
a surveyor’s certificate and (y) any consents or estoppels (which may be obtained without undue hardship or excessive costs) reasonably deemed necessary or advisable by the Administrative Agent in connection with such Mortgage, each of the
foregoing in form and substance reasonably satisfactory to the Administrative Agent and (iii) if requested by the Administrative Agent, deliver to the Administrative Agent legal opinions relating to the matters described above, which opinions shall
be in form and substance, and from counsel, reasonably satisfactory to the Administrative Agent. 
  
 (c) With respect to any new Subsidiary (other than an Excluded Foreign Subsidiary) created or acquired after the Closing Date by Holdings (which, for the
purposes of this paragraph (c), shall include any existing Subsidiary that ceases to be an Excluded Foreign Subsidiary), the Borrower or any of its Subsidiaries, promptly (i) execute and deliver to the Administrative Agent such amendments to the
Guarantee and Collateral Agreement as the 

  

 55 

 
Administrative Agent deems necessary or advisable to grant to the Administrative Agent, for the benefit of the Lenders, a perfected first priority security
interest in the Capital Stock of such new Subsidiary that is owned by Holdings, the Borrower or any of its Subsidiaries, (ii) deliver to the Administrative Agent the certificates, as applicable, representing such Capital Stock, together with, as
applicable, undated stock powers, in blank, executed and delivered by a duly authorized officer of Holdings, the Borrower or such Subsidiary, as the case may be, (iii) cause such new Subsidiary (A) to become a party to the Guarantee and Collateral
Agreement, (B) to take such actions necessary or advisable to grant to the Administrative Agent for the benefit of the Lenders a perfected first priority security interest in the Collateral described in the Guarantee and Collateral Agreement with
respect to such new Subsidiary, including the filing of Uniform Commercial Code financing statements in such jurisdictions as may be required by the Guarantee and Collateral Agreement or by law or as may be requested by the Administrative Agent and
(C) to deliver to the Administrative Agent a certificate of such Subsidiary, substantially in the form of Exhibit C, with appropriate insertions and attachments, and (iv) if requested by the Administrative Agent, deliver to the Administrative Agent
legal opinions relating to the matters described above, which opinions shall be in form and substance, and from counsel, reasonably satisfactory to the Administrative Agent. 
  
 (d) With respect to any new Excluded Foreign Subsidiary created or acquired after the Closing Date by Holdings, the Borrower
or any of its Subsidiaries, promptly, to the extent not restricted by Requirement of Law, (i) execute and deliver to the Administrative Agent such amendments to the Guarantee and Collateral Agreement as the Administrative Agent deems necessary or
advisable to grant to the Administrative Agent, for the benefit of the Lenders, a perfected first priority security interest in the Capital Stock of such new Subsidiary that is owned by Holdings, the Borrower or any of its Subsidiaries (provided
that in no event shall more than 65% of the total outstanding Capital Stock of any such new Subsidiary be required to be so pledged), (ii) deliver to the Administrative Agent the certificates, as applicable, representing such Capital Stock, together
with, as applicable, undated stock powers, in blank, executed and delivered by a duly authorized officer of Holdings, the Borrower or such Subsidiary, as the case may be, and take such other action as may be necessary or, in the reasonable opinion
of the Administrative Agent, desirable to perfect the Administrative Agent’s security interest therein, and (iii) if requested by the Administrative Agent, deliver to the Administrative Agent legal opinions relating to the matters described
above, which opinions shall be in form and substance, and from counsel, reasonably satisfactory to the Administrative Agent. 
  
 (e) With respect to any new Permitted Joint Venture created or acquired by the Borrower or any of one or more of its Subsidiaries after the Closing Date,
use reasonable efforts in good faith to cause the joint venture or similar agreement with respect thereto to permit the ownership interests of the Borrower and such Subsidiaries therein to be included as Collateral under the Security Documents.

  
 SECTION 7. NEGATIVE COVENANTS 
  
 Holdings and the Borrower hereby jointly and severally agree that, so long as
the Commitments remain in effect, any Letter of Credit remains outstanding (unless cash in an amount equal to the aggregate amount of the L/C Obligations outstanding has been deposited in a cash collateral account established by the Administrative
Agent) or any Loan or other amount 

  

 56 

 
is owing to any Lender or the Administrative Agent hereunder, each of Holdings and the Borrower shall not, and shall not permit any of its Subsidiaries to,
directly or indirectly (and with respect to Permitted Joint Ventures, the Borrower shall not permit any Permitted Joint Venture to, directly or indirectly, do or take the actions set forth in Section 7.17): 
  
 7.1 Financial Condition Covenants. 
  
 (a) Consolidated Leverage Ratio. Permit the Consolidated Leverage
Ratio as at the last day of any period of four consecutive fiscal quarters of the Borrower ending with any fiscal quarter set forth below to exceed the ratio set forth below opposite such fiscal quarter: 
  

	 Fiscal Quarter

	 	 Consolidated
 Leverage
Ratio

	 September 30, 2003
	 	5.00 to 1.00
	 December 31, 2003
	 	5.00 to 1.00
	 March 31, 2004
	 	5.00 to 1.00
	 June 30, 2004
	 	5.00 to 1.00
	 September 30, 2004
	 	5.00 to 1.00
	 December 31, 2004
	 	4.75 to 1.00
	 March 31, 2005
	 	4.75 to 1.00
	 June 30, 2005
	 	4.75 to 1.00
	 September 30, 2005
	 	4.75 to 1.00
	 December 31, 2005
	 	4.25 to 1.00
	 March 31, 2006
	 	4.25 to 1.00
	 June 30, 2006
	 	4.25 to 1.00
	 September 30, 2006
	 	4.25 to 1.00
	 December 31, 2006
	 	3.75 to 1.00
	 March 31, 2007
	 	3.75 to 1.00
	 June 30, 2007
	 	3.75 to 1.00
	 September 30, 2007
	 	3.75 to 1.00
	 December 31, 2007
	 	3.50 to 1.00
	 March 31, 2008
	 	3.50 to 1.00
	 June 30, 2008
	 	3.50 to 1.00
	 September 30, 2008
	 	3.50 to 1.00
	 December 31, 2008 and thereafter
	 	3.00 to 1.00

  
 (b) Consolidated
Interest Coverage Ratio. Permit the Consolidated Interest Coverage Ratio for any period of four consecutive fiscal quarters of the Borrower ending with any fiscal quarter set forth below to be less than the ratio set forth below opposite such
fiscal quarter: 
  

 57 

	 Fiscal Quarter

	 	 Consolidated Interest
 Coverage
Ratio

	 September 30, 2003
	 	2.25 to 1.00
	 December 31, 2003
	 	2.25 to 1.00
	 March 31, 2004
	 	2.25 to 1.00
	 June 30, 2004
	 	2.35 to 1.00
	 September 30, 2004
	 	2.35 to 1.00
	 December 31, 2004
	 	2.45 to 1.00
	 March 31, 2005
	 	2.45 to 1.00
	 June 30, 2005
	 	2.45 to 1.00
	 September 30, 2005
	 	2.45 to 1.00
	 December 31, 2005
	 	2.50 to 1.00
	 March 31, 2006
	 	2.50 to 1.00
	 June 30, 2006
	 	2.50 to 1.00
	 September 30, 2006
	 	2.50 to 1.00
	 December 31, 2006
	 	2.65 to 1.00
	 March 31, 2007
	 	2.65 to 1.00
	 June 30, 2007
	 	2.65 to 1.00
	 September 30, 2007
	 	2.65 to 1.00
	 December 31, 2007
	 	2.90 to 1.00
	 March 31, 2008
	 	2.90 to 1.00
	 June 30, 2008
	 	2.90 to 1.00
	 September 30, 2008
	 	2.90 to 1.00
	 December 31, 2008 and thereafter
	 	3.00 to 1.00

  
 (c) Consolidated
Fixed Charge Coverage Ratio. Permit the Consolidated Fixed Charge Coverage Ratio for any period of four consecutive fiscal quarters of the Borrower ending with any fiscal quarter set forth below to be less than the ratio set forth below opposite
such fiscal quarter: 
  

	 Fiscal Quarter

	 	 Consolidated Fixed
 Charge
Coverage Ratio

	 September 30, 2003 and thereafter
	 	1.00 to 1.00

  
 provided; that for purposes of
calculating the Consolidated Fixed Charge Coverage Ratio beginning with the fiscal quarter ended September 30, 2008, the numerator (Consolidated EBITDA plus Consolidated Lease Expense) will include the Borrower’s cash on hand as of the
beginning of such period. 
  
 7.2 Indebtedness. Create,
issue, incur, assume, become liable in respect of or suffer to exist any Indebtedness, except: 
  
 (a) Indebtedness of any Loan Party pursuant to any Loan Document or Letter of Credit; 
  

 58 

 (b) Indebtedness of the Borrower to any Subsidiary and of any Wholly Owned Subsidiary
Guarantor to the Borrower or any other Subsidiary, provided, however that: 
  
 (i) if the Borrower or any Wholly Owned Subsidiary Guarantor is the obligor under such Indebtedness, such Indebtedness must be expressly subordinated to the prior payment in full of all Obligations hereunder; and

  
 (ii) (A) any subsequent issuance or transfer of Capital Stock
or ownership interests that results in any such Indebtedness being held by a Person other than the Borrower or a Wholly Owned Subsidiary Guarantor and (B) any sale or other transfer of any such Indebtedness to a Person that is not either the
Borrower or a Wholly Owned Subsidiary Guarantor shall be deemed, in each case, to constitute an incurrence of such Indebtedness by the Borrower or such Wholly Owned Subsidiary Guarantor, as the case may be, that is not permitted by this Section
7.2(b); 
  
 (c) Guarantee Obligations incurred in
the ordinary course of business by the Borrower or any of its Subsidiaries of obligations of any Wholly Owned Subsidiary Guarantor; 
  
 (d) Indebtedness outstanding on the date hereof and listed on Schedule 7.2(d) and any refinancings, refundings, renewals or extensions
thereof (without increasing, or shortening the maturity of, the principal amount thereof and which shall not be adverse to the Borrower or shall have a negative impact on the Lenders); 
  
 (e) Indebtedness (including, without limitation, Capital Lease Obligations) of the Borrower and its
Subsidiaries secured by Liens permitted by Section 7.3(g) in an aggregate principal amount not to exceed $15,000,000 at any one time outstanding; 
  
 (f) (i) Indebtedness of the Borrower in respect of the 2003 Senior Subordinated Notes in an aggregate principal amount not to exceed
$150,000,000 and (ii) Guarantee Obligations of any Subsidiary Guarantor in respect of such Indebtedness, provided that such Guarantee Obligations are subordinated to the same extent as the obligations of the Borrower in respect of the 2003
Senior Subordinated Notes; 
  
 (g) Indebtedness
of Holdings in respect of the Senior Discount Debentures, provided, that Holdings may refinance the Senior Discount Debentures with, and/or exchange the Senior Discount Debentures for, other Indebtedness of Holdings the terms of which shall
be reasonably acceptable to the Administrative Agent and no less favorable to the Lenders than the terms contained in the Senior Discount Debenture Indenture or Senior Discount Debenture Purchase Agreement including, without limitation, that (A)
such Indebtedness shall be subordinate to the Indebtedness incurred hereunder, (B) the maturity or amortization of such Indebtedness shall occur no earlier than the date that is the earlier of six months after (x) the sixth anniversary of the
Closing Date and (y) the first date on which the Loans have been paid or prepaid in full and no Commitments or Letters of Credit are outstanding, (C) the amount of such indebtedness shall not exceed the aggregate amount of such indebtedness in
existence on the Closing 

  

 59 

 
Date (including accrued interest thereon, together with transaction fees and expenses), and (D) such Indebtedness otherwise has terms and conditions
reasonably satisfactory to the Administrative Agent (such other Indebtedness, the “Senior Discount Debenture Refinancing”); 
  
 (h) Indebtedness incurred or assumed in connection with, or resulting from, Permitted Acquisitions, provided, that the aggregate
principal amount of Indebtedness permitted by this Section 7.2(h) shall be subject to the limitations set forth in Section 7.8(g); 
  
 (i) Indebtedness of Holdings in respect of any Holdings Refinancing Indebtedness (plus increases to the principal amount of such
Indebtedness resulting from any pay in kind feature of such Indebtedness); 
  
 (j) Indebtedness of Holdings in respect of the Intercompany Loan; and 
  
 (k) additional Indebtedness of the Borrower or any of its Subsidiaries in an aggregate principal amount (for the Borrower and all
Subsidiaries) not to exceed $10,000,000 at any one time outstanding. 
  
 7.3 Liens. Create, incur, assume or suffer to exist any Lien upon any of its property, whether now owned or hereafter acquired, except for: 
  
 (a) Liens for taxes not yet due or that are being contested in good faith by appropriate proceedings, provided that adequate
reserves with respect thereto are maintained on the books of the Borrower or its Subsidiaries, as the case may be, in conformity with GAAP; 
  
 (b) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s, landlord’s or other like Liens
arising in the ordinary course of business that are not overdue for a period of more than 30 days or that are being contested in good faith by appropriate proceedings; 
  
 (c) pledges or deposits in connection with workers’ compensation, unemployment insurance and other
social security legislation; 
  
 (d) deposits to
secure the performance of bids, trade contracts (other than for borrowed money), leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature incurred in the ordinary course of business;

  
 (e) easements, rights-of-way, restrictions
and other similar encumbrances incurred in the ordinary course of business that, in the aggregate, are not substantial in amount and that do not in any case materially detract from the value of the property subject thereto or materially interfere
with the ordinary conduct of the business of the Borrower or any of its Subsidiaries; 
  
 (f) Liens in existence on the date hereof listed on Schedule 7.3(f), securing Indebtedness permitted by Section 7.2(d), provided
that no such Lien is spread to cover 

  

 60 

 
any additional property after the Closing Date and that the amount of Indebtedness secured thereby is not increased; 
  
 (g) Liens securing Indebtedness of the Borrower or any of
its Subsidiaries incurred pursuant to Section 7.2(e) to finance the acquisition of fixed or capital assets, provided that (i) such Liens shall be created substantially simultaneously with the acquisition of such fixed or capital assets, (ii)
such Liens do not at any time encumber any property other than the property financed by such Indebtedness and (iii) the amount of Indebtedness secured thereby is not increased; 
  
 (h) Liens created pursuant to the Security Documents; 
  
 (i) any interest or title of a lessor under any lease
entered into by the Borrower or any of its Subsidiaries in the ordinary course of its business and covering only the assets so leased; and 
  
 (j) Liens not otherwise permitted by this Section so long as neither (i) the aggregate outstanding principal amount of the obligations
secured thereby nor (ii) the aggregate fair market value (determined as of the date such Lien is incurred) of the assets subject thereto exceeds (as to the Borrower and its Subsidiaries) $5,000,000 at any one time. 
  
 Notwithstanding any of the foregoing provisions, no real property of the Borrower or its
Subsidiaries owned on the Closing Date shall be subject to any Liens permitted under Section 7.3 (f), (g) or (j). 
  
 7.4 Fundamental Changes. Enter into any merger, consolidation or amalgamation, or liquidate, wind up or dissolve itself (or suffer any liquidation
or dissolution), or Dispose of, all or substantially all of its property or business, except that: 
  
 (a) any Subsidiary of the Borrower may be merged or consolidated with or into the Borrower (provided that the Borrower shall be the
continuing or surviving corporation) or with or into any Wholly Owned Subsidiary Guarantor (provided that the Wholly Owned Subsidiary Guarantor shall be the continuing or surviving entity) or with or into any other Subsidiary which wholly
owns or is wholly owned by such Subsidiary; and 
  
 (b) any Subsidiary of the Borrower may Dispose of any or all of its assets (upon voluntary liquidation or otherwise) to the Borrower or any Wholly Owned Subsidiary Guarantor or any other Subsidiary which wholly owns or is wholly owned by
such Subsidiary; 
  
 provided, in each case that prior to
or after giving effect to such changes contemplated in clause (a) and (b) above, no Default or Event of Default shall have occurred and be continuing. 
  

 61 

 7.5 Disposition of Property. Dispose of any of its property, whether now owned or hereafter
acquired, or, in the case of any Subsidiary, issue or sell any shares of such Subsidiary’s Capital Stock to any Person, except: 
  
 (a) the Disposition of obsolete or worn out property in the ordinary course of business; 
  
 (b) the sale of inventory in the ordinary course of
business; 
  
 (c) Dispositions permitted by
Section 7.4(b); 
  
 (d) the sale or issuance of
any Subsidiary’s Capital Stock to the Borrower or any other Subsidiary; and 
  
 (e) the Disposition of other property having a fair market value not to exceed $10,000,000 in the aggregate for any fiscal year of the
Borrower. 
  
 7.6 Restricted Payments. Declare or pay any
dividend (other than dividends payable solely in common stock of the Person making such dividend) on, or make any payment on account of, or set apart assets for a sinking or other analogous fund for, the purchase, redemption, defeasance, retirement
or other acquisition of, any Capital Stock of Holdings, the Borrower or any Subsidiary, whether now or hereafter outstanding, or make any other distribution in respect thereof, either directly or indirectly, whether in cash or property or in
obligations of Holdings, the Borrower or any Subsidiary (collectively, “Restricted Payments”), except that: 
  
 (a) any Subsidiary may make Restricted Payments to the Borrower or any other Subsidiary; 
  
 (b) so long as no Default or Event of Default shall have
occurred and be continuing, the Borrower may pay dividends to Holdings to permit Holdings to (i) purchase Holdings’ common stock or common stock options from present or former officers or employees of Holdings, the Borrower or any Subsidiary
upon the death, disability or termination of employment of such officer or employee, provided, that the aggregate amount of payments under this clause after the date hereof (net of any proceeds received by Holdings and contributed to the
Borrower after the date hereof in connection with resales of any common stock or common stock options so purchased) shall not exceed $5,000,000, and (ii) pay management fees expressly permitted by the last sentence of Section 7.10; 
  
 (c) the Borrower may pay dividends to Holdings to permit
Holdings to (i) pay corporate overhead expenses incurred in the ordinary course of business not to exceed $1,000,000 in any fiscal year, and (ii) pay any taxes that are due and payable by Holdings and the Borrower as part of a consolidated group;
and 
  
 (d) beginning with fiscal year 2005, the
Borrower may pay dividends or make other distributions to Holdings on any date to permit Holdings to promptly pay interest and/or “original issue discount” (within the meaning of Section 1273(a) of the Code) 

  

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accrued and accruing on the Senior Discount Debentures, the Senior Discount Debenture Refinancing and the Holdings Refinancing Indebtedness, in an amount
which is not greater than the Permitted Holdings Interest Payment Amount as at such date; provided, that any time any such dividends or distributions are to made, (x) no Default or Event of Default shall have occurred and be continuing or
would result therefrom, (y) the Borrower and its Subsidiaries shall be in compliance, on a pro forma basis as at the end of the last fiscal quarter of the Borrower for which financial statements are available after giving effect to such payment,
with the covenants contained in Section 7.1 calculated as at the last day of the most recently ended fiscal quarter of the Borrower for which financial statements are available, as if such payment and any borrowing in connection with such payment
had occurred on the last day of each relevant period for testing such compliance, and (z) the Consolidated Leverage Ratio is less than or equal to 4.00 to 1.00 for the four consecutive fiscal quarters then ended for which financial statements are
available. 
  
 7.7 Capital Expenditures. Make any Capital
Expenditure, except (a) Maintenance Capital Expenditures of the Borrower and its Subsidiaries not exceeding the amount set forth opposite each of the fiscal years set forth below: 
  

	 Fiscal Year

	  	 Maintenance Capital
 Expenditures

	 2003
	  	$	52,500,000
	 2004
	  	 	57,500,000
	 2005
	  	 	60,000,000
	 2006
	  	 	65,000,000
	 2007
	  	 	70,000,000
	 2008 and thereafter
	  	 	77,500,000

  
 ; provided, that up to 50% of
each such amount set forth above in this Section 7.7 if not expended in the fiscal year for which it is permitted, may be carried over for expenditure in the next succeeding fiscal year, and (b) Acquisition Capital Expenditures of the Borrower and
its Subsidiaries as permitted pursuant to Section 7.8A. 
  
 7.8
Investments. Make any advance, loan, extension of credit (by way of guaranty or otherwise) or capital contribution to, or purchase any Capital Stock, bonds, notes, debentures or other debt securities of, or any assets constituting a business
unit of, or make any other investment in, any Person (all of the foregoing, “Investments”), except: 
  
 (a) extensions of trade credit in the ordinary course of business; 
  
 (b) investments in Cash Equivalents; 
  
 (c) Guarantee Obligations permitted by Section 7.2; 
  
 (d) loans and advances to employees of Holdings, the
Borrower or any Subsidiary of the Borrower in the ordinary course of business (including for travel, 

  

 63 

 
entertainment and relocation expenses) in an aggregate amount for Holdings, the Borrower or any Subsidiary of the Borrower not to exceed $2,500,000 at any
one time outstanding; 
  
 (e) the Transactions;

  
 (f) Investments by Holdings, the Borrower or
any of its Subsidiaries in the Borrower or any Person that, prior to such investment, is a Wholly Owned Subsidiary Guarantor; 
  
 (g) Permitted Acquisitions and investments in Permitted Joint Ventures as permitted by Section 7.8A; 
  
 (h) Permitted Minority Acquisitions; provided, that
such Permitted Minority Acquisitions do not exceed an aggregate principal amount of $10,000,000; 
  
 (i) advances, loans or extensions of credit to, or the taking of notes from, members of management of the Borrower in connection with the
issuance and sale of the Capital Stock of the Borrower to such members in an amount not to exceed $4,000,000 at any one time outstanding; and 
  
 (j) loans and advances on behalf of customers or clients of the Borrower or any Subsidiary of the Borrower in the ordinary course of
business in an aggregate amount for Holdings, the Borrower or any Subsidiary of the Borrower not to exceed $5,000,000 at any one time outstanding. 
  
 7.8A Acquisitions. Except as permitted by Section 7.16 with respect to Holdings and except with respect to Permitted Minority Acquisitions
permitted by Section 7.8(h), make or commit to make any Acquisition Capital Expenditures or purchase any assets constituting a business unit of, or the Capital Stock of, any Person, or make any investment in or loan or advance to any Permitted Joint
Venture except for Acquisition Capital Expenditures, Permitted Acquisitions and investments in Permitted Joint Ventures involving the expenditure (including the principal amount of any Indebtedness incurred or assumed in connection with the same,
the continuing Indebtedness of any acquired Person outstanding at any time of its Permitted Acquisition and the fair market value of any other non-cash consideration, but excluding common stock issued by Holdings as well as the proceeds received
from the issuance of common stock of Holdings to the existing stockholders of Holdings or to the Sponsor in connection with the financing of Permitted Acquisitions, which proceeds may be used by the Borrower or its Subsidiaries for Permitted
Acquisitions independent of the limits set forth in this Section 7.8A) in an aggregate amount not to exceed $12,000,000 for the period from the Closing Date to December 31, 2003, $32,500,000 in the fiscal year ended 2004, $35,000,000 in the fiscal
year ended 2005, $37,500,000 in the fiscal year ended 2006, $40,000,000 in the fiscal year ended 2007, $42,500,000 in the fiscal year ended 2008 and $22,500,000 for the period from January 1, 2009 through June 30, 2009 (which amounts shall include a
maximum of up to $10,000,000 in each fiscal year which may be used for investments in new Permitted Joint Ventures formed or acquired after the Closing Date or the contribution of cash to existing Permitted Joint Ventures); provided,
however, that immediately after giving effect to any such Acquisition Capital 

  

 64 

 
Expenditure, Permitted Acquisition or investments in a Permitted Joint Venture, (a) no Default or Event of Default shall have occurred and be continuing, and
(b) the Borrower and its Subsidiaries shall be in compliance, on a pro forma basis as at the end of the last fiscal quarter of the Borrower for which financial statements are available after giving effect thereto, with the covenants contained in
Section 7.1 calculated as at the last day of the most recently ended fiscal quarter of the Borrower for which financial statements are available, as if such transaction (and any related incurrence or repayment of Indebtedness, with any new
Indebtedness being deemed amortized over the applicable testing period in accordance with its terms, and with any Revolving Loans borrowed in connection with such acquisition being deemed to be repaid with excess cash balances as available) had
occurred on the first day of each relevant period for testing such compliance (provided, that, with respect to determining the compliance by the Borrower and its Subsidiaries with the covenant for Consolidated Leverage Ratio set forth in
Section 7.1(a), each such ratio for the respective fiscal quarter set forth therein shall be deemed to have been decreased by 0.25, provided, further, that such decrease shall not apply in the event the Consolidated Leverage Ratio is
at or less than 4.00 to 1.00). With respect to any such amount as set forth above (including the amount allocated to investments in Permitted Joint Ventures), which is not expended in the period or fiscal year, as the case may be, for which it is
permitted, up to 50% of each such amount may be carried over for expenditure in the next succeeding fiscal year. 
  
 7.9 Optional Payments and Modifications of Certain Debt Instruments. (a) Make or offer to make any optional or voluntary payment, prepayment,
repurchase or redemption of or otherwise optionally or voluntarily defease or segregate funds with respect to the Senior Subordinated Notes or the Senior Discount Debentures (other than (i) the Redemption and (ii) such a payment, prepayment,
repurchase or redemption of the Senior Discount Debentures with the proceeds of any Senior Discount Debenture Refinancing, (b) amend, modify, waive or otherwise change, or consent or agree to any amendment, modification, waiver or other change to,
any of the terms of the Senior Subordinated Notes, the Senior Discount Debentures or any Senior Discount Debenture Refinancing (other than any such amendment, modification, waiver or other change that (i) would extend the maturity or reduce the
amount of any payment of principal thereof or reduce the rate or extend any date for payment of interest thereon and (ii) does not involve the payment of a material consent fee, or (c) designate any Indebtedness (other than obligations of the Loan
Parties pursuant to the Loan Documents) as “Designated Senior Indebtedness” for the purposes of the Senior Subordinated Note Indentures. 
  
 7.10 Transactions with Affiliates. Enter into any transaction, including any purchase, sale, lease or exchange of property, the rendering of any
service or the payment of any management, advisory or similar fees, with any Affiliate (other than Holdings, the Borrower or any Subsidiary), Permitted Joint Venture or Professional Association unless such transaction is (a) otherwise permitted
under this Agreement, (b) in the ordinary course of business of Holdings, the Borrower or such Subsidiary, as the case may be, and (c) upon fair and reasonable terms no less favorable to Holdings, the Borrower or such Subsidiary, as the case may be,
than it would obtain in a comparable arm’s length transaction with a Person that is not an Affiliate. Notwithstanding the foregoing, (i) Holdings, the Borrower and its Subsidiaries may pay to the Sponsor and its Control Investment Affiliates
fees and expenses pursuant to a management agreement approved by the board of directors of Holdings or the Borrower, as the case may be, in an aggregate amount not to exceed $1,000,000 in any fiscal year of the Borrower, provided, 

  

 65 

 
that (x) such management agreement may not be amended in any manner the result of which shall be to increase the aggregate amount of fees and expenses
payable thereunder to the Sponsor and its Control Investment Affiliates and (y) at any time such fees and expenses are to be paid, no Default or Event of Default shall have occurred and be continuing and (ii) Holdings may (A) issue and sell to any
Affiliate all or any part of the 2002 Holdings Bridge Notes and any Holdings Refinancing Indebtedness and may pay and perform all of its obligations thereunder, including the payment of all fees and expenses in connection therewith (including any
guarantee fee payable to the Sponsor in respect of its guarantee of the 2002 Holdings Bridge Notes) and (B) redeem Senior Discount Debentures held by any Affiliate pursuant to the Redemption. 
  
 7.11 Sales and Leasebacks. Enter into any arrangement with any Person
providing for the leasing by Holdings, the Borrower or any Subsidiary of real or personal property that has been or is to be sold or transferred by Holdings, the Borrower or such Subsidiary to such Person or to any other Person to whom funds have
been or are to be advanced by such Person on the security of such property or rental obligations of Holdings, the Borrower or such Subsidiary. 
  
 7.12 Changes in Fiscal Periods. Permit the fiscal year of the Borrower to end on a day other than December 31 or change the Borrower’s method
of determining fiscal quarters. 
  
 7.13 Negative Pledge
Clauses. Enter into or suffer to exist or become effective any agreement that prohibits or limits the ability of Holdings, the Borrower or any of its Subsidiaries to create, incur, assume or suffer to exist any Lien upon any of its property or
revenues, whether now owned or hereafter acquired, to secure its obligations under the Loan Documents to which it is a party other than (a) this Agreement and the other Loan Documents and (b) any agreements governing any purchase money Liens or
Capital Lease Obligations otherwise permitted hereby (in which case, any prohibition or limitation shall only be effective against the assets financed thereby). 
  

7.14 Clauses Restricting Subsidiary Distributions. Enter into or suffer to exist or become effective any consensual encumbrance or restriction
on the ability of any Subsidiary of the Borrower to (a) make Restricted Payments in respect of any Capital Stock of such Subsidiary held by, or pay any Indebtedness owed to, the Borrower or any other Subsidiary of the Borrower, (b) make loans or
advances to, or other Investments in, the Borrower or any other Subsidiary of the Borrower or (c) transfer any of its assets to the Borrower or any other Subsidiary of the Borrower, except for such encumbrances or restrictions existing under or by
reason of (i) any restrictions existing under the Loan Documents, (ii) any restrictions with respect to a Subsidiary imposed pursuant to an agreement that has been entered into in connection with the Disposition of all or substantially all of the
Capital Stock or assets of such Subsidiary and (iii) any restrictions imposed by any agreement related to secured Indebtedness permitted by this Agreement if such restrictions apply only to the property or assets securing such Indebtedness.

  
 7.15 Lines of Business. Enter into any business, either
directly or through any Subsidiary, except for those businesses in which the Borrower and its Subsidiaries are engaged on the date of this Agreement or that are reasonably related or ancillary thereto. 
  

 66 

 7.16 Limitation of Activities of Holdings. In the case of Holdings, notwithstanding anything to
the contrary in this Agreement or any other Loan Document, (a) conduct, transact or otherwise engage in, or commit to conduct, transact or otherwise engage in, any business or operations other than those incidental to its ownership of the Capital
Stock of the Borrower (except that Holdings may create or acquire any Subsidiary (in compliance with Section 7.15), and any such Subsidiary may acquire any assets or Capital Stock of any other Person (in compliance with Section 7.15), so long as
such Subsidiary and any Indebtedness incurred or assumed in connection with the creation or acquisition thereof or the acquisition by it of any such assets or Capital Stock, is contributed to or acquired or assumed by the Borrower or any of its
Subsidiaries within the same Business Day in a Permitted Acquisition), (b) incur, create, assume or suffer to exist any Indebtedness or other liabilities or financial obligations, except (i) nonconsensual obligations imposed by operation of law,
(ii) pursuant to the Loan Documents to which it is a party, the Senior Discount Debenture Purchase Agreement, the Senior Discount Debenture Indenture or the documentation for any Senior Discount Debenture Refinancing, the 2002 Holdings Bridge Notes
or the documentation for any Holdings Refinancing Indebtedness or the Intercompany Loan and (iii) obligations with respect to its Capital Stock, or (c) own, lease, manage or otherwise operate any properties or assets (including cash (other than cash
received in connection with dividends made by the Borrower in accordance with Section 7.6 pending application in the manner contemplated by said Section) and cash equivalents) other than the ownership of shares of Capital Stock of the Borrower.

  
 7.17 Limitation of Permitted Joint Ventures. Permit any
Permitted Joint Venture, to (a) create, issue, incur, assume, become liable in respect of or suffer to exist any Indebtedness, except Indebtedness to the Borrower permitted to be advanced by the Borrower pursuant to Section 7.8A, (b) enter into any
Guarantee Obligation, (c) enter into any business, either directly or through any of their affiliates, except for those businesses in which the Borrower and its Subsidiaries are permitted to engage pursuant to Section 7.15 or that are reasonably
related thereto, or (d) retain any cash remaining at the end of any fiscal year (other than cash required to be reserved on its balance sheets in accordance with GAAP consistent with past practice). 
  
 SECTION 8. EVENTS OF DEFAULT 
  
 If any of the following events shall occur and be continuing: 
  
 (a) the Borrower shall fail to pay any principal of any Loan
or Reimbursement Obligation when due in accordance with the terms hereof; or the Borrower shall fail to pay any interest on any Loan or Reimbursement Obligation, or any other amount payable hereunder or under any other Loan Document, within three
days after any such interest or other amount becomes due in accordance with the terms hereof; or 
  
 (b) any representation or warranty made or, pursuant to the last sentence of Section 5.2, deemed made by any Loan Party herein or in any
other Loan Document or that is contained in any certificate, document or financial or other written statement furnished by it at any time under or in connection with this Agreement or any such other Loan Document shall prove to have been inaccurate
in any material respect on or as of the date made or deemed made; or 
  

 67 

 (c) (i) any Loan Party shall default in the observance or performance of any agreement
contained in clause (i) or (ii) of Section 6.4(a) (with respect to Holdings and the Borrower only), Section 6.7(a) or Section 7 of this Agreement or Sections 5.5(ii), Section 5.5(iii) and 5.7(b) of the Guarantee and Collateral Agreement or (ii) an
“Event of Default” under and as defined in any Mortgage, if applicable, shall have occurred and be continuing; or 
  
 (d) any Loan Party shall default in the observance or performance of any other agreement contained in this Agreement or any other Loan
Document (other than as provided in paragraphs (a) through (c) of this Section), and such default shall continue unremedied for a period of 30 days; or 
  
 (e) Holdings, the Borrower or any of its Subsidiaries shall (i) default in making any payment of any principal of any Indebtedness
(including any Guarantee Obligation, but excluding the Loans) on the scheduled or original due date with respect thereto; or (ii) default in making any payment of any interest on any such Indebtedness beyond the period of grace, if any, provided in
the instrument or agreement under which such Indebtedness was created; or (iii) default in the observance or performance of any other agreement or condition relating to any such Indebtedness or contained in any instrument or agreement evidencing,
securing or relating thereto, or any other event shall occur or condition exist, the effect of which default or other event or condition is to cause, or to permit the holder or beneficiary of such Indebtedness (or a trustee or agent on behalf of
such holder or beneficiary) to cause, with the giving of notice if required, such Indebtedness to become due prior to its stated maturity or (in the case of any such Indebtedness constituting a Guarantee Obligation) to become payable;
provided, that a default, event or condition described in clause (i), (ii) or (iii) of this paragraph (e) shall not at any time constitute an Event of Default unless, at such time, one or more defaults, events or conditions of the type
described in clauses (i), (ii) and (iii) of this paragraph (e) shall have occurred and be continuing with respect to Indebtedness the outstanding principal amount of which exceeds in the aggregate $10,000,000; or 
  
 (f) (i) Holdings, the Borrower or any of its Subsidiaries
shall commence any case, proceeding or other action (A) under any existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, reorganization or relief of debtors, seeking to have an order for relief entered
with respect to it, or seeking to adjudicate it a bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with respect to it or its debts, or (B) seeking
appointment of a receiver, trustee, custodian, conservator or other similar official for it or for all or any substantial part of its assets, or Holdings, the Borrower or any of its Subsidiaries shall make a general assignment for the benefit of its
creditors; or (ii) there shall be commenced against Holdings, the Borrower or any of its Subsidiaries any case, proceeding or other action of a nature referred to in clause (i) above that (A) results in the entry of an order for relief or any such
adjudication or appointment or (B) remains undismissed, undischarged or unbonded for a period of 60 days; or (iii) there shall be commenced against Holdings, the Borrower or any of its Subsidiaries any case, proceeding or other action seeking
issuance of a warrant of attachment, execution, distraint or similar process against all or any substantial part of its 

  

 68 

 
assets that results in the entry of an order for any such relief that shall not have been vacated, discharged, or stayed or bonded pending appeal within 45
days from the entry thereof; or (iv) Holdings, the Borrower or any of its Subsidiaries shall take any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the acts set forth in clause (i), (ii), or (iii)
above; or (v) Holdings, the Borrower or any of its Subsidiaries shall generally not, or shall be unable to, or shall admit in writing its inability to, pay its debts as they become due; or 
  
 (g) (i) any Person shall engage in any “prohibited
transaction” (as defined in Section 406 of ERISA or Section 4975 of the Code) involving any Plan, (ii) any “accumulated funding deficiency” (as defined in Section 302 of ERISA), whether or not waived, shall exist with respect to any
Plan or any Lien in favor of the PBGC or a Plan shall arise on the assets of the Borrower or any Commonly Controlled Entity, (iii) a Reportable Event shall occur with respect to, or proceedings shall commence to have a trustee appointed, or a
trustee shall be appointed, to administer or to terminate, any Single Employer Plan, which Reportable Event or commencement of proceedings or appointment of a trustee is, in the reasonable opinion of the Required Lenders, likely to result in the
termination of such Plan for purposes of Title IV of ERISA, (iv) any Single Employer Plan shall terminate for purposes of Title IV of ERISA, (v) the Borrower or any Commonly Controlled Entity shall, or in the reasonable opinion of the Required
Lenders is likely to, incur any liability in connection with a withdrawal from, or the Insolvency or Reorganization of, a Multiemployer Plan or (vi) any other event or condition shall occur or exist with respect to a Plan; and in each case in
clauses (i) through (vi) above, such event or condition, together with all other such events or conditions, if any, could reasonably be expected to have a Material Adverse Effect; or 
  
 (h) one or more judgments or decrees shall be entered against Holdings, the Borrower or any of its
Subsidiaries involving in the aggregate a liability (not paid or fully covered by insurance as to which the relevant insurance company has acknowledged coverage) of $5,000,000 or more, and all such judgments or decrees shall not have been vacated,
discharged, stayed or bonded pending appeal within 45 days from the entry thereof; or 
  
 (i) any of the Security Documents shall cease, for any reason, to be in full force and effect, or any Loan Party or any Affiliate of any
Loan Party shall so assert, or any Lien created by any of the Security Documents shall cease to be enforceable and of the same effect and priority purported to be created thereby; or 
  
 (j) the guarantee contained in Section 2 of the Guarantee and Collateral Agreement shall cease, for any
reason, to be in full force and effect or any Loan Party or any Affiliate of any Loan Party shall so assert; or 
  
 (k) (i) prior to an IPO, (A) the Permitted Investors shall cease collectively to own, of record and beneficially, shares of the common
stock of Holdings equal to at least 51% of all of the issued and outstanding shares of the common stock of Holdings on a fully diluted basis and (B) the Permitted Investors shall cease to have the power to vote or direct the voting of securities
having a majority of the aggregate ordinary voting power 

  

 69 

 
for the election of directors of Holdings (determined on a fully diluted basis); (ii) after an IPO, (X) the Permitted Investors shall cease collectively to
own, of record and beneficially, shares of the common stock of Holdings equal to at least 35% of all of the issued and outstanding shares of the common stock of Holdings on a fully diluted basis, (Y) the Permitted Investors shall cease to have the
power to vote or direct the voting of securities having at least 35% of the aggregate ordinary voting power for the election of directors of Holdings (determined on a fully diluted basis) and (Z) any “person” or “group” (as such
terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), excluding the Permitted Investors, shall become, or obtain rights (whether by means or warrants, options or
otherwise) to become, the “beneficial owner” (as defined in Rules 13(d)-3 and 13(d)-5 under the Exchange Act), directly or indirectly, of more than 15% of the outstanding common stock of Holdings; (iii) the board of directors of Holdings
shall cease to consist of a majority of Continuing Directors; (iv) Holdings shall cease to own and control, of record and beneficially, directly, 100% of each class of outstanding Capital Stock of the Borrower free and clear of all Liens (except
Liens created by the Guarantee and Collateral Agreement); or (v) a Specified Change of Control shall occur; or 
  
 (l) Holdings shall (i) conduct, transact or otherwise engage in, or commit to conduct, transact or otherwise engage in, any business or
operations other than those incidental to its ownership of the Capital Stock of the Borrower, (ii) incur, create, assume or suffer to exist any Indebtedness or other liabilities or financial obligations, except (w) the Senior Discount Debentures or
any Senior Discount Debenture Refinancing, the 2002 Holdings Bridge Notes or any Holdings Refinancing Indebtedness, or the Intercompany Loan (x) nonconsensual obligations imposed by operation of law, (y) pursuant to the Loan Documents to which it is
a party and (z) obligations with respect to its Capital Stock, or (iii) own, lease, manage or otherwise operate any properties or assets (including cash (other than cash received in connection with dividends made by the Borrower in accordance with
Section 7.6 pending application in the manner contemplated by said Section) and cash equivalents) other than the ownership of shares of Capital Stock of the Borrower; or 
  
 (m) the Senior Subordinated Notes or the guarantees thereof shall cease, for any reason, to be validly
subordinated to the Obligations or the obligations of the Subsidiary Guarantors under the Guarantee and Collateral Agreement, as the case may be, as provided in the Senior Subordinated Note Indentures, or any Loan Party, any Affiliate of any Loan
Party, the trustees (as applicable) in respect of the Senior Subordinated Notes or the holders of at least 25% in aggregate principal amount of either the 1999 Senior Subordinated Notes or the 2003 Senior Subordinated Notes (as applicable) shall so
assert; 
  
 then, and in any such event, (A) if such event is an Event of Default
specified in clause (i) or (ii) of paragraph (f) above with respect to the Borrower, automatically the Commitments shall immediately terminate and the Loans hereunder (with accrued interest thereon) and all other amounts owing under this Agreement
and the other Loan Documents (including all amounts of L/C Obligations, whether or not the beneficiaries of the then outstanding Letters of Credit shall have presented the documents required thereunder) shall immediately become due and payable, and
(B) if such event is any other Event of Default, either or both of the following actions may 

  

 70 

 
be taken: (i) with the consent of the Required Lenders, the Administrative Agent may, or upon the request of the Required Lenders, the Administrative Agent
shall, by notice to the Borrower declare the Revolving Commitments to be terminated forthwith, whereupon the Revolving Commitments shall immediately terminate; and (ii) with the consent of the Required Lenders, the Administrative Agent may, or upon
the request of the Required Lenders, the Administrative Agent shall, by notice to the Borrower, declare the Loans hereunder (with accrued interest thereon) and all other amounts owing under this Agreement and the other Loan Documents (including all
amounts of L/C Obligations, whether or not the beneficiaries of the then outstanding Letters of Credit shall have presented the documents required thereunder) to be due and payable forthwith, whereupon the same shall immediately become due and
payable. With respect to all Letters of Credit with respect to which presentment for honor shall not have occurred at the time of an acceleration pursuant to this paragraph, the Borrower shall at such time deposit in a cash collateral account opened
by the Administrative Agent an amount equal to the aggregate then undrawn and unexpired amount of such Letters of Credit. Amounts held in such cash collateral account shall be applied by the Administrative Agent to the payment of drafts drawn under
such Letters of Credit, and the unused portion thereof after all such Letters of Credit shall have expired or been fully drawn upon, if any, shall be applied to repay other obligations of the Borrower hereunder and under the other Loan Documents
provided, however, that in the event any and all Events of Default shall have been waived or cured prior to the application of all amounts held in such cash collateral account to the payment of drafts drawn under such Letters of Credit
or the repayment of other obligations of the Borrower hereunder and under the other Loan Documents, such remaining amounts in such cash collateral account shall be paid back to the Borrower. After all such Letters of Credit shall have expired or
been fully drawn upon, all Reimbursement Obligations shall have been satisfied and all other obligations of the Borrower hereunder and under the other Loan Documents shall have been paid in full, the balance, if any, in such cash collateral account
shall be returned to the Borrower (or such other Person as may be lawfully entitled thereto). Except as expressly provided above in this Section, presentment, demand, protest and all other notices of any kind are hereby expressly waived by the
Borrower. 
  
 SECTION 9. THE AGENTS 
  
 9.1 Appointment. Each Lender hereby irrevocably designates and
appoints the Administrative Agent as the agent of such Lender under this Agreement and the other Loan Documents, and each such Lender irrevocably authorizes the Administrative Agent, in such capacity, to take such action on its behalf under the
provisions of this Agreement and the other Loan Documents and to exercise such powers and perform such duties as are expressly delegated to the Administrative Agent by the terms of this Agreement and the other Loan Documents, together with such
other powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary elsewhere in this Agreement, the Administrative Agent shall not have any duties or responsibilities, except those expressly set forth herein or in the
other Loan Documents, or any fiduciary relationship with any Lender, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist against
the Administrative Agent. 
  
 9.2 Delegation of Duties. The
Administrative Agent may execute any of its duties under this Agreement and the other Loan Documents by or through agents or 

  

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attorneys-in-fact and shall be entitled to advice of counsel concerning all matters pertaining to such duties. The Administrative Agent shall not be
responsible for the negligence or misconduct of any agents or attorneys in-fact selected by it with reasonable care. 
  
 9.3 Exculpatory Provisions. Neither any Agent nor the Lead Arranger nor any Co-Arranger nor any of their respective officers, directors, employees,
agents, attorneys-in-fact or affiliates shall be (i) liable for any action lawfully taken or omitted to be taken by it or such Person under or in connection with this Agreement or any other Loan Document (except to the extent that any of the
foregoing are found by a final and nonappealable decision of a court of competent jurisdiction to have resulted from its or such Person’s own gross negligence or willful misconduct) or (ii) responsible in any manner to any of the Lenders for
any recitals, statements, representations or warranties made by any Loan Party or any officer thereof contained in this Agreement or any other Loan Document or in any certificate, report, statement or other document referred to or provided for in,
or received by any of the Agents, the Lead Arranger or the Co-Arrangers under or in connection with, this Agreement or any other Loan Document or for the value, validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or
any other Loan Document or for any failure of any Loan Party a party thereto to perform its obligations hereunder or thereunder. The Agents shall not be under any obligation to any Lender to ascertain or to inquire as to the observance or
performance of any of the agreements contained in, or conditions of, this Agreement or any other Loan Document, or to inspect the properties, books or records of any Loan Party. 
  
 9.4 Reliance by Administrative Agent. The Administrative Agent shall be entitled to rely, and shall be fully
protected in relying, upon any instrument, writing, resolution, notice, consent, certificate, affidavit, letter, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to
have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including counsel to Holdings or the Borrower), independent accountants and other experts selected by the Administrative Agent. The
Administrative Agent may deem and treat the payee of any Note as the owner thereof for all purposes unless a written notice of assignment, negotiation or transfer thereof shall have been filed with the Administrative Agent. The Administrative Agent
shall be fully justified in failing or refusing to take any action under this Agreement or any other Loan Document unless it shall first receive such advice or concurrence of the Required Lenders (or, if so specified by this Agreement, all Lenders)
as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense that may be incurred by it by reason of taking or continuing to take any such action. The Administrative Agent
shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the Required Lenders (or, if so specified by this Agreement, all Lenders), and such
request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders and all future holders of the Loans. 
  
 9.5 Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of
Default hereunder unless the Administrative Agent has received notice from a Lender, Holdings or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default”.
In the event that the Administrative Agent receives such a notice, the 

  

 72 

 
Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of
Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders); provided that unless and until the Administrative Agent shall have received such directions, the Administrative Agent may
(but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable in the best interests of the Lenders. 
  
 9.6 Non-Reliance on Agents and Other Lenders. Each Lender expressly
acknowledges that neither the Agents nor any of their respective officers, directors, employees, agents, attorneys-in-fact or affiliates have made any representations or warranties to it and that no act by any Agent hereinafter taken, including any
review of the affairs of a Loan Party or any affiliate of a Loan Party, shall be deemed to constitute any representation or warranty by any Agent to any Lender. Each Lender represents to the Agents that it has, independently and without reliance
upon any Agent, the Lead Arranger, any Co-Arranger or any other Lender, and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, operations, property, financial and
other condition and creditworthiness of the Loan Parties and their affiliates and made its own decision to make its Loans hereunder and enter into this Agreement. Each Lender also represents that it will, independently and without reliance upon any
Agent, the Lead Arranger, any Co-Arranger or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action
under this Agreement and the other Loan Documents, and to make such investigation as it deems necessary to inform itself as to the business, operations, property, financial and other condition and creditworthiness of the Loan Parties and their
affiliates. Except for notices, reports and other documents expressly required to be furnished to the Lenders by the Administrative Agent hereunder, the Administrative Agent shall not have any duty or responsibility to provide any Lender with any
credit or other information concerning the business, operations, property, condition (financial or otherwise), prospects or creditworthiness of any Loan Party or any affiliate of a Loan Party that may come into the possession of the Administrative
Agent or any of its officers, directors, employees, agents, attorneys-in-fact or affiliates. 
  
 9.7 Indemnification. The Lenders agree to indemnify each of the Other Representatives and the Administrative Agent in its capacity as such (to the extent not reimbursed by Holdings or the Borrower and without
limiting the obligation of Holdings or the Borrower to do so), ratably according to their respective Aggregate Exposure Percentages in effect on the date on which indemnification is sought under this Section (or, if indemnification is sought after
the date upon which the Commitments shall have terminated and the Loans shall have been paid in full, ratably in accordance with such Aggregate Exposure Percentages immediately prior to such date), from and against any and all liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind whatsoever that may at any time (whether before or after the payment of the Loans) be imposed on, incurred by or asserted against such
Other Representative or the Administrative Agent in any way relating to or arising out of, the Commitments, this Agreement, any of the other Loan Documents or any documents contemplated by or referred to herein or therein or the transactions
contemplated hereby or thereby or any action taken or omitted by such Other Representative or the Administrative Agent under or in connection with any of the foregoing; provided that no 

  

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Lender shall be liable for the payment of any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs,
expenses or disbursements that are found by a final and nonappealable decision of a court of competent jurisdiction to have resulted from such Other Representative’s or the Administrative Agent’s gross negligence or willful misconduct. The
agreements in this Section shall survive the payment of the Loans and all other amounts payable hereunder. 
  
 9.8 Agent in Its Individual Capacity. Each of the Other Representatives, the Administrative Agent and their respective affiliates may make loans
to, accept deposits from and generally engage in any kind of business with any Loan Party as though such Other Representative or the Administrative Agent was not an Other Representative or the Administrative Agent, respectively. With respect to the
Loans made or renewed by any of them and with respect to any Letter of Credit issued or participated in by any of them, each of the Other Representatives or the Administrative Agent shall have the same rights and powers under this Agreement and the
other Loan Documents as any Lender and may exercise the same as though it were not an Other Representative or the Administrative Agent, and the terms “Lender” and “Lenders” shall include each of the Other Representative or the
Administrative Agent in its individual capacity. 
  
 9.9
Successor Administrative Agent. The Administrative Agent may resign as Administrative Agent upon 30 days’ notice to the Lenders and the Borrower. If the Administrative Agent shall resign as Administrative Agent under this Agreement and
the other Loan Documents, then the Required Lenders shall appoint from among the Lenders a successor agent for the Lenders, which successor agent shall (unless an Event of Default under Section 8(a) or Section 8(f) with respect to the Borrower shall
have occurred and be continuing) be subject to approval by the Borrower (which approval shall not be unreasonably withheld or delayed), whereupon such successor agent shall succeed to the rights, powers and duties of the Administrative Agent, and
the term “Administrative Agent” shall mean such successor agent effective upon such appointment and approval, and the former Administrative Agent’s rights, powers and duties as Administrative Agent shall be terminated, without any
other or further act or deed on the part of such former Administrative Agent or any of the parties to this Agreement or any holders of the Loans. If no successor agent has accepted appointment as Administrative Agent by the date that is 30 days
following a retiring Administrative Agent’s notice of resignation, the retiring Administrative Agent’s resignation shall nevertheless thereupon become effective and the Lenders shall assume and perform all of the duties of the
Administrative Agent hereunder until such time, if any, as the Required Lenders appoint a successor agent as provided for above. After any retiring Administrative Agent’s resignation as Administrative Agent, the provisions of this Section 9
shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent under this Agreement and the other Loan Documents. 
  
 9.10 Other Representatives. None of the Other Representatives shall have any duties or responsibilities hereunder in
each of their respective capacities as such. 
  
 SECTION 10.
MISCELLANEOUS 
  
 10.1 Amendments and Waivers. Neither this
Agreement, any other Loan Document, nor any terms hereof or thereof may be amended, supplemented or modified except 

  

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in accordance with the provisions of this Section 10.1. The Required Lenders and each Loan Party party to the relevant Loan Document may, or, with the
written consent of the Required Lenders, the Administrative Agent and each Loan Party party to the relevant Loan Document may, from time to time, (a) enter into written amendments, supplements or modifications hereto and to the other Loan Documents
for the purpose of adding any provisions to this Agreement or the other Loan Documents or changing in any manner the rights of the Lenders or of the Loan Parties hereunder or thereunder or (b) waive, on such terms and conditions as the Required
Lenders or the Administrative Agent, as the case may be, may specify in such instrument, any of the requirements of this Agreement or the other Loan Documents or any Default or Event of Default and its consequences; provided, however,
that no such waiver and no such amendment, supplement or modification shall (i) forgive or reduce the principal amount or extend the final scheduled date of maturity of any Loan or Reimbursement Obligation, extend the scheduled date of any
amortization payment in respect of any Term Loan, reduce the stated rate of any interest or fee payable hereunder or extend the scheduled date of any payment thereof, or increase the amount or extend the expiration date of any Lender’s
Revolving Commitment, in each case without the consent of each Lender directly affected thereby; (ii) eliminate or reduce any voting rights under this Section 10.1, reduce any percentage specified in the definition of Required Lenders, consent to
the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement and the other Loan Documents, release all or substantially all of the Collateral or release any Subsidiary Guarantor (the release of which could
reasonably be expected to have a Material Adverse Effect) from its obligations under the Guarantee and Collateral Agreement, in each case without the consent of all Lenders; (iii) amend, modify or waive any condition precedent to any extension of
credit under the Revolving Facility set forth in Section 5.2 (including in connection with any waiver of an existing Default or Event of Default) without the written consent of the Majority Facility Lenders in respect of the Revolving Facility; (iv)
amend, modify or waive any provision of Section 2.15 without the consent of each Lender; (v) reduce the amount of Net Cash Proceeds or Excess Cash Flow required to be applied to prepay Loans (or change the application of such prepayments among the
Loans) under this Agreement without the consent of the Majority Facility Lenders under each Facility; (vi) reduce the percentage specified in the definition of Majority Facility Lenders with respect to any Facility without the consent of all Lenders
under such Facility; (vii) amend, modify or waive any provision of Section 9 without the consent of the Administrative Agent; or (viii) amend, modify or waive any provision of Section 3 without the consent of the Issuing Lender. Any such waiver and
any such amendment, supplement or modification shall apply equally to each of the Lenders and shall be binding upon the Loan Parties, the Lenders, the Administrative Agent and all future holders of the Loans. In the case of any waiver, the Loan
Parties, the Lenders and the Administrative Agent shall be restored to their former position and rights hereunder and under the other Loan Documents, and any Default or Event of Default waived shall be deemed to be cured and not continuing; but no
such waiver shall extend to any subsequent or other Default or Event of Default, or impair any right consequent thereon. 
  
 10.2 Notices. All notices, requests and demands to or upon the respective parties hereto to be effective shall be in writing (including by
electronic transmission), and, unless otherwise expressly provided herein, shall be deemed to have been duly given or made when delivered, or three Business Days after being deposited in the mail, postage prepaid, or, in the case of electronic
transmission notice, when received, addressed as follows in the case of Holdings, the Borrower and the Administrative Agent, and as set forth in an administrative 

  

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questionnaire delivered to the Administrative Agent in the case of the Lenders, or to such other address as may be hereafter notified by the respective
parties hereto: 
  

	 Holdings and the Borrower:
	  	 Concentra Inc.
 5080 Spectrum
Drive
 Suite 400, West Tower
 Addison, Texas 75001
 Attention: Chief Financial Officer
 Telecopy: 972-387-8092
 Telephone: 972-364-8217
 E-Mail Address:
 Tom.Kiraly@Concentra.com

		
	 with a copy to:
	  	 Concentra Inc.
 5080 Spectrum
Drive
 Suite 400, West Tower
 Addison, Texas 75001
 Attention: General Counsel
 Telecopy: 972-387-1938
 Telephone: 972-364-8043
 E-Mail Address:
 Richard.Parr@Concentra.com

		
	 The Administrative Agent:
	  	 JPMorgan Chase Bank
 1111 Fannin, 10th
Floor
 Houston, TX 77002
 Attention: Jennifer Anyigbo

Telecopy: 713-750-2782
 Telephone: 713-750-2110
 E-Mail Address:
 jennifer.anyigbo@jpmorgan.com

		
	 with a copy to:
	  	 JPMorgan Chase Bank
 270 Park Avenue, 15th
Floor
 New York, New York 10017
 Attention: Lyette
Proctor
 Telecopy: 212-270-5135
 Telephone:
212-270-1479
 E-Mail Address:
 lyette.proctor@jpmorgan.com

  
 provided that any notice,
request or demand to or upon the Administrative Agent or the Lenders shall not be effective until received. 
  
 10.3 No Waiver; Cumulative Remedies. No failure to exercise and no delay in exercising, on the part of the Administrative Agent or any Lender, any
right, remedy, power or 

  

 76 

 
privilege hereunder or under the other Loan Documents shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power
or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided are cumulative and not exclusive of any rights,
remedies, powers and privileges provided by law. 
  
 10.4
Survival of Representations and Warranties. All representations and warranties made hereunder, in the other Loan Documents and in any document, certificate or statement delivered pursuant hereto or in connection herewith shall survive the
execution and delivery of this Agreement and the making of the Loans and other extensions of credit hereunder. 
  
 10.5 Payment of Expenses and Taxes; Lender Indemnification. The Borrower agrees (a) to pay or reimburse (i) each of the Lead Arranger and the
Administrative Agent for all their respective out-of-pocket costs and expenses incurred in connection with the syndication of the Facilities and (ii) the Administrative Agent for all out-of-pocket costs and expenses incurred in connection with the
preparation and execution of, and any amendment, supplement or modification to, this Agreement and the other Loan Documents and any other documents prepared in connection herewith or therewith, the syndication of the Facilities and the consummation
and administration of the transactions contemplated hereby and thereby, including the reasonable fees and disbursements of counsel to the Administrative Agent and filing and recording fees and expenses, with statements with respect to the foregoing
to be submitted to the Borrower prior to the Closing Date (in the case of amounts to be paid on the Closing Date) and from time to time thereafter on a quarterly basis or such other periodic basis as the Administrative Agent shall deem appropriate,
(b) to pay or reimburse each Lender and the Administrative Agent for all its out-of-pocket costs and expenses incurred in connection with the enforcement or preservation of any rights under this Agreement, the other Loan Documents and any such other
documents, including the reasonable fees and disbursements of counsel to each Lender and of counsel to the Administrative Agent, (c) to pay, indemnify, and hold each Lender and the Administrative Agent harmless from, any and all recording and filing
fees and any and all liabilities with respect to, or resulting from any delay in paying, stamp, excise and other taxes, if any, that may be payable or determined to be payable in connection with the execution and delivery of, or consummation or
administration of any of the transactions contemplated by, or any amendment, supplement or modification of, or any waiver or consent under or in respect of, this Agreement, the other Loan Documents and any such other documents, and (d) TO PAY,
INDEMNIFY, AND HOLD EACH LENDER, THE OTHER REPRESENTATIVES, THE ADMINISTRATIVE AGENT AND THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES, AFFILIATES, TRUSTEES AND ADVISORS, AGENTS AND CONTROLLING PERSONS (EACH, AN “INDEMNITEE”)
HARMLESS FROM AND AGAINST ANY AND ALL OTHER LIABILITIES, OBLIGATIONS, LOSSES, DAMAGES, PENALTIES, ACTIONS, JUDGMENTS, SUITS OF ANY KIND OR NATURE WHATSOEVER WITH RESPECT TO THE SYNDICATION AND FINANCING OF THE FACILITIES, AND THE EXECUTION,
DELIVERY, ENFORCEMENT, PERFORMANCE AND ADMINISTRATION OF THIS AGREEMENT, THE OTHER LOAN DOCUMENTS AND ANY SUCH OTHER DOCUMENTS, INCLUDING ANY OF THE FOREGOING RELATING TO THE USE OF PROCEEDS OF THE LOANS OR THE VIOLATION OF, NONCOMPLIANCE WITH OR
LIABILITY UNDER, ANY ENVIRONMENTAL LAW APPLICABLE TO  
  

 77 

 THE OPERATIONS OF HOLDINGS, THE BORROWER ANY OF ITS SUBSIDIARIES OR ANY OF THE PROPERTIES AND THE REASONABLE FEES AND
EXPENSES OF LEGAL COUNSEL IN CONNECTION WITH CLAIMS, ACTIONS OR PROCEEDINGS UNDER OR IN CONNECTION WITH ANY LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED THEREBY (ALL THE FOREGOING IN THIS CLAUSE (D), COLLECTIVELY, THE “INDEMNIFIED
LIABILITIES”), PROVIDED, THAT THE BORROWER SHALL HAVE NO OBLIGATION HEREUNDER TO ANY INDEMNITEE WITH RESPECT TO INDEMNIFIED LIABILITIES TO THE EXTENT SUCH INDEMNIFIED LIABILITIES ARE FOUND BY A FINAL AND NONAPPEALABLE DECISION OF A
COURT OF COMPETENT JURISDICTION TO HAVE RESULTED FROM THE GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OF SUCH INDEMNITEE. WITHOUT LIMITING THE FOREGOING, AND TO THE EXTENT PERMITTED BY APPLICABLE LAW, THE BORROWER AGREES NOT TO ASSERT AND TO CAUSE ITS
SUBSIDIARIES NOT TO ASSERT, AND HEREBY WAIVES AND AGREES TO CAUSE ITS SUBSIDIARIES TO SO WAIVE, ALL RIGHTS FOR CONTRIBUTION OR ANY OTHER RIGHTS OF RECOVERY WITH RESPECT TO ALL CLAIMS, DEMANDS, PENALTIES, FINES, LIABILITIES, SETTLEMENTS, DAMAGES,
COSTS AND EXPENSES OF WHATEVER KIND OR NATURE, UNDER OR RELATED TO ENVIRONMENTAL LAWS, THAT ANY OF THEM MIGHT HAVE BY STATUTE OR OTHERWISE AGAINST ANY INDEMNITEE. ALL AMOUNTS DUE UNDER THIS SECTION 10.5 SHALL BE PAYABLE NOT LATER THAN 10 DAYS AFTER
WRITTEN DEMAND THEREFOR. STATEMENTS PAYABLE BY THE BORROWER PURSUANT TO THIS SECTION 10.5 SHALL BE SUBMITTED TO CHIEF FINANCIAL OFFICER (TELEPHONE NO. 972-364-8217) (TELECOPY NO. 972-387-8092), AT THE ADDRESS OF THE BORROWER SET FORTH IN SECTION
10.2, OR TO SUCH OTHER PERSON OR ADDRESS AS MAY BE HEREAFTER DESIGNATED BY THE BORROWER IN A WRITTEN NOTICE TO THE ADMINISTRATIVE AGENT. THE AGREEMENTS IN THIS SECTION 10.5 SHALL SURVIVE REPAYMENT OF THE LOANS AND ALL OTHER AMOUNTS PAYABLE
HEREUNDER. BORROWER ACKNOWLEDGES THAT THIS AGREEMENT CONTAINS PROVISIONS RELEASING EACH INDEMNITEE FROM LIABILITY AND/OR INDEMNIFYING AND HOLDING HARMLESS EACH INDEMNITEE FOR, AMONG OTHER THINGS, INDEMNITEE’S OWN NEGLIGENCE. BORROWER AGREES
THAT THE RELEASE AND/OR INDEMNITY PROVISIONS CONTAINED IN THIS AGREEMENT ARE CAPTIONED TO CLEARLY IDENTIFY THE RELEASE AND/OR INDEMNITY PROVISIONS AND, THEREFORE, ARE SO CONSPICUOUS THAT BORROWER HAS FAIR NOTICE OF THE EXISTENCE AND CONTENTS OF SUCH
PROVISIONS. BORROWER HEREBY WAIVES ANY DEFENSES IT MIGHT ASSERT AGAINST EACH INDEMNITEE BASED ON THE HOLDINGS OF THE TEXAS SUPREME COURT IN ETHYL CORP. v. DANIEL CONST. CO., 725 S.W.2d 705 (TEX. 1987), AND DRESSER
INDUSTRIES, INC. v. PAGE PETROLEUM, INC., 853 S.W.2d 505 (TEX. 1993), AND OF THE UNITED STATES COURT OF APPEALS FOR THE FIFTH CIRCUIT IN QUORUM HEALTH RESOURCES, L.L.C. v. MAVERICK COUNTY HOSPITAL DISTRICT, 308 F.3d
451 (5TH CIR. 2002) AND ANY RELATED CASE LAW HOLDINGS. 
  

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 10.6 Successors and Assigns; Participations and Assignments. (a) The provisions of this Agreement
shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby (including any affiliate of the Issuing Lender that issues any Letter of Credit), except that (i) the Borrower may not
assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each Lender (and any attempted assignment or transfer by the Borrower without such consent shall be null and void) and (ii) no Lender may
assign or otherwise transfer its rights or obligations hereunder except in accordance with this Section. 
  
 (b)(i) Subject to the conditions set forth in paragraph (b)(ii) below, any Lender may assign to one or more assignees (each, an
“Assignee”) all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitments and the Loans at the time owing to it) with the consent (such consent not to be unreasonably withheld)
of: 
  
 (A) the Borrower, provided that no
consent of the Borrower shall be required for an assignment to a Lender, an affiliate of a Lender, an Approved Fund or, if an Event of Default has occurred and is continuing, any other Person; and 
  
 (B) the Administrative Agent, provided that no
consent of the Administrative Agent shall be required for an assignment of (x) any Revolving Commitment to an assignee that is a Lender with a Revolving Commitment immediately prior to giving effect to such assignment or (y) all or any portion of a
Term Loan to a Lender, an Affiliate of a Lender or an Approved Fund. 
  
 (ii) Assignments shall be subject to the following additional conditions: 
  
 (A) except in the case of an assignment to a Lender, an affiliate of a Lender or an Approved Fund or an assignment of the entire remaining
amount of the assigning Lender’s Commitments or Loans under any Facility, the amount of the Commitments or Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption with respect to
such assignment is delivered to the Administrative Agent) shall not be less than (i) $5,000,000 in the case of assignments under the Revolving Facility and (ii) $1,000,000 in the case of assignments under the Term Facility (in each case other than
in the case of an assignment of all of a Lender’s interests under this Agreement), unless each of the Borrower and the Administrative Agent otherwise consent, provided that (1) no such consent of the Borrower shall be required if an
Event of Default has occurred and is continuing and (2) such amounts shall be aggregated in respect of each Lender and its affiliates or Approved Funds, if any; 
  
 (B) the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and
Assumption, together with a processing and recordation fee of $3,500; and 
  
 (C) the Assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an administrative questionnaire. 
  

 79 

 For the purposes of this Section 10.6, the term “Approved Fund” has the following meaning:

  
 “Approved Fund” means any
Person (other than a natural person) that is engaged in making, purchasing, holding or investing in bank loans and similar extensions of credit in the ordinary course of its business and that is administered or managed by (a) a Lender, (b) an
Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender. 
  
 (iii) Subject to acceptance and recording thereof pursuant to paragraph (b)(iv) below, from and after the effective date specified in each Assignment and
Assumption the Assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to
the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under
this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 2.16, 2.17, 2.18 and 10.5). Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not
comply with this Section 10.6 shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (c) of this Section. 
  
 (iv) The Administrative Agent, acting for this purpose as an agent of the
Borrower, shall maintain at one of its offices a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amount of the Loans and L/C
Obligations owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive in the absence of manifest error, and the Borrower, the Administrative Agent, the
Issuing Lender and the Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be
available for inspection by the Borrower, the Issuing Lender and any Lender, at any reasonable time and from time to time upon reasonable prior notice. 
  
 (v) Upon its receipt of a duly completed Assignment and Assumption executed by an assigning Lender and an Assignee, the Assignee’s completed
administrative questionnaire (unless the Assignee shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph (b)(ii)(B) of this Section and any written consent to such assignment required by paragraph (b) of
this Section, the Administrative Agent shall accept such Assignment and Assumption and record the information contained therein in the Register. No assignment shall be effective for purposes of this Agreement unless it has been recorded in the
Register as provided in this paragraph. 
  
 (c)(i) Any Lender may,
without the consent of the Borrower or the Administrative Agent, sell participations to one or more banks or other entities (a “Participant”) in all or a portion of such Lender’s rights and obligations under this Agreement
(including all or 

  

 80 

 
a portion of its Commitments and the Loans owing to it); provided that (A) such Lender’s obligations under this Agreement shall remain unchanged,
(B) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (C) the Borrower, the Administrative Agent, the Issuing Lender and the other Lenders shall continue to deal solely and directly
with such Lender in connection with such Lender’s rights and obligations under this Agreement. Any agreement pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this
Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement may provide that such Lender will not, without the consent of the Participant, agree to any amendment,
modification or waiver that (1) requires the consent of each Lender directly affected thereby pursuant to the proviso to the second sentence of Section 10.1 and (2) directly affects such Participant. Subject to paragraph (c)(ii) of this Section, the
Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.16, 2.17 and 2.18 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section. To the extent
permitted by law, each Participant also shall be entitled to the benefits of Section 10.7(b) as though it were a Lender, provided such Participant shall be subject to Section 10.7(a) as though it were a Lender. 
  
 (ii) A Participant shall not be entitled to receive any greater payment under
Section 2.16 or 2.17 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower’s prior written
consent. Any Participant that is a Non-U.S. Lender shall not be entitled to the benefits of Section 2.17 unless such Participant complies with Section 2.17(d). 
  

(d) Any Lender may, without the consent of the Borrower or the Administrative Agent, at any time pledge or assign a security interest in all or any
portion of its rights under this Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank, and this Section shall not apply to any such pledge or assignment of a security
interest; provided that no such pledge or assignment of a security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or Assignee for such Lender as a party hereto. 
  
 (e) The Borrower, upon receipt of written notice from the relevant Lender,
agrees to issue Notes to any Lender requiring Notes to facilitate transactions of the type described in paragraph (d) above. 
  
 10.7 Adjustments; Set-off. (a) Except to the extent that this Agreement expressly provides for payments to be allocated to a particular Lender or
to the Lenders under a particular Facility, if any Lender or affiliate of any Lender (a “Benefitted Lender”) shall, at any time after an Event of Default pursuant to Section 8, receive any payment of all or part of the Obligations
owing to it, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 8(f), or otherwise), in a greater proportion than any such payment to
or collateral received by any other Lender, if any, in respect of the Obligations owing to such other Lender, such Benefitted Lender shall purchase for cash from the other Lenders a participating interest in such portion of the Obligations owing to
each such other Lender, or shall provide such other 

  

 81 

 
Lenders with the benefits of any such collateral, as shall be necessary to cause such Benefitted Lender to share the excess payment or benefits of such
collateral ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such Benefitted Lender, such purchase shall be rescinded, and the purchase price
and benefits returned, to the extent of such recovery, but without interest. 
  
 (b) In addition to any rights and remedies of the Lenders provided by law, each Lender or affiliate of such Lender shall have the right, without prior notice to Holdings or the Borrower, any such notice being
expressly waived by Holdings and the Borrower to the extent permitted by applicable law, upon an Event of Default, to set off and appropriate and apply against such amount any and all deposits (general or special, time or demand, provisional or
final), in any currency, and any other credits, indebtedness or claims, in any currency, in each case whether direct or indirect, absolute or contingent, matured or unmatured, at any time held or owing by such Lender, an affiliate of such Lender or
any branch or agency thereof to or for the credit or the account of Holdings or the Borrower, as the case may be. Each Lender agrees promptly to notify the Borrower and the Administrative Agent after any such setoff and application made by such
Lender, provided that the failure to give such notice shall not affect the validity of such setoff and application. 
  
 10.8 Counterparts. This Agreement may be executed by one or more of the parties to this Agreement on any number of separate counterparts, and all
of said counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an executed signature page of this Agreement by facsimile transmission shall be effective as delivery of a manually executed counterpart
hereof. A set of the copies of this Agreement signed by all the parties shall be lodged with the Borrower and the Administrative Agent. 
  
 10.9 Severability. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in
any other jurisdiction. 
  
 10.10 Integration. This
Agreement and the other Loan Documents represent the agreement of Holdings, the Borrower, the Administrative Agent and the Lenders with respect to the subject matter hereof, and there are no promises, undertakings, representations or warranties by
the Administrative Agent or any Lender relative to subject matter hereof not expressly set forth or referred to herein or in the other Loan Documents. 
  
 10.11 GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
  
 10.12 Submission To Jurisdiction; Waivers. Each of Holdings and the Borrower hereby irrevocably and unconditionally: 
  

 82 

 (a) submits for itself and its property in any legal action or proceeding relating to
this Agreement and the other Loan Documents to which it is a party, or for recognition and enforcement of any judgment in respect thereof, to the non-exclusive general jurisdiction of the courts of the State of New York, the courts of the United
States for the Southern District of New York, and appellate courts from any thereof; 
  
 (b) consents that any such action or proceeding may be brought in such courts and waives any objection that it may now or hereafter have
to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim the same; 
  
 (c) agrees that service of process in any such action or proceeding may be effected by mailing a copy
thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, to Holdings or the Borrower, as the case may be at its address set forth in Section 10.2 or at such other address of which the Administrative Agent
shall have been notified pursuant thereto; 
  
 (d) agrees that nothing herein shall affect the right to effect service of process in any other manner permitted by law or shall limit the right to sue in any other jurisdiction; and 
  
 (e) waives, to the maximum extent not prohibited by law, any
right it may have to claim or recover in any legal action or proceeding referred to in this Section any special, exemplary, punitive or consequential damages. 
  

10.13 Acknowledgments. Each of Holdings and the Borrower hereby acknowledges that: 
  
 (a) it has been advised by counsel in the negotiation,
execution and delivery of this Agreement and the other Loan Documents; 
  
 (b) neither the Administrative Agent nor any Lender has any fiduciary relationship with or duty to Holdings or the Borrower arising out of or in connection with this Agreement or any of the other Loan Documents, and
the relationship between Administrative Agent and Lenders, on one hand, and Holdings and the Borrower, on the other hand, in connection herewith or therewith is solely that of debtor and creditor; and 
  
 (c) no joint venture is created hereby or by the other Loan
Documents or otherwise exists by virtue of the transactions contemplated hereby among the Lenders or among Holdings, the Borrower and the Lenders. 
  
 10.14 Releases of Guarantees and Liens. (a) Notwithstanding anything to the contrary contained herein or in any other Loan Document, the
Administrative Agent is hereby irrevocably authorized by each Lender (without requirement of notice to or consent of any Lender except as expressly required by Section 10.1) to take any action requested by the Borrower having the effect of releasing
any Collateral or guarantee obligations (i) to the extent necessary to permit consummation of any transaction not prohibited by any Loan Document or 

  

 83 

 
that has been consented to in accordance with Section 10.1 or (ii) under the circumstances described in paragraph (b) below. 
  
 (b) At such time as the Loans, the Reimbursement Obligations and the other
obligations under the Loan Documents (other than obligations under or in respect of Hedge Agreements) shall have been paid in full, the Commitments have been terminated and no Letters of Credit shall be outstanding, the Collateral shall be released
from the Liens created by the Security Documents, and the Security Documents and all obligations (other than those expressly stated to survive such termination) of the Administrative Agent and each Loan Party under the Security Documents shall
terminate, all without delivery of any instrument or performance of any act by any Person and at such time, the Administrative Agent agrees to promptly take such action and execute and deliver such instruments and documents as shall be necessary to
release the Liens and security interests created by the Security Documents, including, without limitation, any Uniform Commercial Code release or termination statements. 
  
 10.15 Confidentiality. Each of the Administrative Agent and each Lender agrees to keep confidential all non-public
information provided to it by any Loan Party pursuant to this Agreement that is designated by such Loan Party as confidential; provided that nothing herein shall prevent the Administrative Agent or any Lender from disclosing any such
information (a) to the Administrative Agent, any other Lender or any affiliate of any Lender, (b) to any Transferee or prospective Transferee that agrees to comply with the provisions of this Section, (c) to its employees, directors, agents,
attorneys, accountants and other professional advisors or those of any of its affiliates, (d) to any direct or indirect contractual counterparty in swap agreements or such contractual counterparty’s professional advisor (so long as such
contractual counterparty or professional advisor to such contractual counterparty agrees to be bound by the provisions of this Section 10.15, (e) upon the request or demand of any Governmental Authority, (f) in response to any order of any court or
other Governmental Authority or as may otherwise be required pursuant to any Requirement of Law, (g) if requested or required to do so in connection with any litigation or similar proceeding, (h) that has been publicly disclosed without violation of
this Section 10.15, (i) to the National Association of Insurance Commissioners or any similar organization or any nationally recognized rating agency that requires access to information about a Lender’s investment portfolio in connection with
ratings issued with respect to such Lender, or (j) in connection with the exercise of any remedy hereunder or under any other Loan Document. Each of the Administrative Agent and each Lender agrees that in the event it is requested, required or
demanded to disclose such non-public information pursuant to clause (e), (f) or (g) above, it shall, to the extent permitted by law, promptly notify the applicable Loan Party thereof, to enable such Loan Party to obtain a protective order with
respect to such information. Notwithstanding anything herein to the contrary, any party subject to confidentiality obligations hereunder or under any other related document (and any employee, representative or other agent of such party) may disclose
to any and all persons, without limitation of any kind, such party’s U.S. federal tax treatment and the U.S. federal tax structure of the transactions contemplated by this Agreement relating to such party and all materials of any kind
(including opinions or other tax analyses) that are provided to it relating to such tax treatment and tax structure. However, no such party shall disclose any information relating to such tax treatment or tax structure to the extent nondisclosure is
reasonably necessary in order to comply with applicable securities laws. 
  

 84 

 10.16 WAIVERS OF JURY TRIAL. HOLDINGS, THE BORROWER, THE ADMINISTRATIVE AGENT AND THE LENDERS
HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN. 
  
 [signature pages to follow] 
  

 85 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	 CONCENTRA INC.

		
	 By:
	 	 /s/ RICHARD A. PARR II

	 	 	 Richard A. Parr II

	 	 	 Executive Vice President, General Counsel and Corporate Secretary

	
	 CONCENTRA OPERATING CORPORATION

		
	 By:
	 	 /s/ RICHARD A. PARR II

	 	 	 Richard A. Parr II

	 	 	 Executive Vice President, General Counsel and Corporate Secretary

	JPMORGAN CHASE BANK, as Administrative Agent, Issuing Lender and a Lender
		
	 By:
	 	 /s/ GARY L. SPEVACK

	 	 	 Name:
	 	 Gary L. Spevack

	 	 	 Title:
	 	 Vice President

	 BANK ONE, N.A.

		
	 By:
	 	 /s/ SHARON ELLIS

	 	 	 Name:
	 	 Sharon Ellis

	 	 	 Title:
	 	 Vice President

	
	 Send Notices to:

	
	 CITICORP NORTH AMERICA, INC.

		
	 By:
	 	 /s/ EIVIND HEGELSTAD

	 	 	 Name:
	 	 Eivind Hegelstad

	 	 	 Title:
	 	 Vice President

	
	 Send Notices to:

	
	 CREDIT SUISSE FIRST BOSTON

		
	 By:
	 	 /s/ KARL M. STUDER

	 	 	 Name:
	 	 Karl M. Studer

	 	 	 Title:
	 	 Director

		
	 By:
	 	 /s/ CHRISTOPHER LALLY

	 	 	 Name:
	 	 Christopher Lally

	 	 	 Title:
	 	 Vice President

	
	 Send Notices to:

			
	 	 	 	 	 Loan Operations

	 	 	 	 	 One Madison Avenue

	 	 	 	 	 New York, NY 10010

	 	 	 	 	 Fax: (212) 538-6851

	
	DEUTSCHE BANK TRUST COMPANY AMERICAS
		
	 By:
	 	 /s/ SUSAN LEFEVRE

	 	 	 Name:
	 	 Susan LeFevre

	 	 	 Title:
	 	 Director

	
	 Send Notices to:

	 STANWICH LOAN FUNDING LLC

		
	 By:
	 	 /s/ KELLY W. WARNEMENT

	 	 	 Name:
	 	 Kelly W. Warnement

	 	 	 Title:
	 	 Vice President

	
	 Send Notices to:

	
	 KZH CYPRESSTREE-1 LLC

		
	 By:
	 	 /s/ DORIAN HERRERA

	 	 	 Name:
	 	 Dorian Herrera

	 	 	 Title:
	 	 Authorized Agent

	
	 Send Notices to:

	
	 KZH ING-2 LLC

		
	 By:
	 	 /s/ DORIAN HERRERA

	 	 	 Name:
	 	 Dorian Herrera

	 	 	 Title:
	 	 Authorized Agent

	
	 Send Notices to:

	
	 KZH SOLEIL-2 LLC

		
	 By:
	 	 /s/ DORIAN HERRERA

	 	 	 Name:
	 	 Dorian Herrera

	 	 	 Title:
	 	 Authorized Agent

	
	 Send Notices to:

	 KZH STERLING LLC

		
	 By:
	 	 /s/ DORIAN HERRERA

	 	 	 Name:
	 	 Dorian Herrera

	 	 	 Title:
	 	 Authorized Agent

	
	 Send Notices to:

  

 Annex A 
  
 PRICING GRID FOR REVOLVING CREDIT LOANS 
  

	 Consolidated Leverage Ratio

	  	Applicable Margin
for Eurodollar
Loans

	 	 	Applicable Margin for
ABR Loans

	 
	 3 4.00 to
1.0
	  	3.25	%	 	2.25	%
	 < 4.00 to 1.0 and 3 3.5
to 1.0
	  	3.00	%	 	2.00	%
	 < 3.5 to 1.0 and 3 3.0 to
1.0
	  	2.75	%	 	1.75	%
	 < 3.0 to 1.0 and 3 2.5 to
1.0
	  	2.50	%	 	1.50	%
	 < 2.5 to 1.0
	  	2.25	%	 	1.25	%

  
 Changes in the Applicable Margin with
respect to the Revolving Loans resulting from changes in the Consolidated Leverage Ratio shall become effective on the date (the “Adjustment Date”) on which financial statements are delivered to the Lenders pursuant to Section 6.1
and shall remain in effect until the next change to be effected pursuant to this paragraph. If any financial statements referred to above are not delivered within the time periods specified above, then, until such financial statements are delivered,
the Consolidated Leverage Ratio as at the end of the fiscal period that would have been covered thereby shall for the purposes of this definition be deemed to be greater than 4.00 to 1.0. In addition, at all times while an Event of Default shall
have occurred and be continuing, the Consolidated Leverage Ratio shall for the purposes of this definition be deemed to be greater than 4.00 to 1.0. Each determination of the Consolidated Leverage Ratio pursuant to this pricing grid shall be made
with respect to (or, in the case of Consolidated Total Debt, as at the end of) the period of four consecutive fiscal quarters of the Borrower ending at the end of the period covered by the relevant financial statements.<PAGE>

                                                                     Exhibit 4.1

                           Lockheed Martin Corporation

              Floating Rate Convertible Senior Debentures due 2033

                          Registration Rights Agreement

                                                                 August 13, 2003
Citigroup Global Markets Inc.
Goldman, Sachs & Co. and
J.P. Morgan Securities Inc.
As representatives of the several Purchasers
   named in Schedule I to the Purchase Agreement
c/o Goldman, Sachs & Co.
85 Broad Street
New York, New York 10004

Ladies and Gentlemen:

         Lockheed Martin Corporation, a Maryland corporation (the "Company"),
proposes to issue and sell to the Purchasers (as defined herein) upon the terms
set forth in the Purchase Agreement (as defined herein) its Floating Rate
Convertible Senior Debentures due 2033 (the "Securities"). As an inducement to
the Purchasers to enter into the Purchase Agreement and in satisfaction of a
condition to the obligations of the Purchasers thereunder, the Company agrees
with the Purchasers for the benefit of Holders (as defined herein) from time to
time of the Registrable Securities (as defined herein) as follows:

         1.  Definitions.

         (a) Capitalized terms used herein without definition shall have the
meanings ascribed to them in the Purchase Agreement. As used in this Agreement,
the following defined terms shall have the following meanings:

         "Additional Interest" has the meaning assigned thereto in Section 7(a)
hereof.

         "Affiliate" of any specified person means any other person which,
directly or indirectly, is in control of, is controlled by, or is under common
control with such specified person. For purposes of this definition, control of
a person means the power, direct or indirect, to direct or cause the direction
of the management and policies of such person whether by contract or otherwise;
and the terms "controlling" and "controlled" have meanings correlative to the
foregoing.

         "Closing Date" means the First Time of Delivery as defined in the
Purchase Agreement.

                                       1

<PAGE>

         "Commission" means the United States Securities and Exchange
Commission, or any other federal agency at the time administering the Exchange
Act or the Securities Act, whichever is the relevant statute for the particular
purpose.

         "DTC" means The Depository Trust Company.

         "Effective Failure" has the meaning assigned thereto in Section 7(b)
hereof.

         "Effectiveness Period" has the meaning assigned thereto in Section
2(b)(i) hereof.

         "Effective Time" means the time at which the Commission declares the
Shelf Registration Statement effective or at which the Shelf Registration
Statement otherwise becomes effective.

         "Electing Holder" has the meaning assigned thereto in Section 3(a)(iii)
hereof.

         "Exchange Act" means the United States Securities Exchange Act of 1934,
as amended.

         "Holder" means any person that is the record owner of Registrable
Securities (and includes any person that has a beneficial interest in any
Registrable Security in book-entry form).

         "Indenture" means the Indenture, dated as of August 13, 2003, between
the Company and The Bank of New York, as amended and supplemented from time to
time in accordance with its terms.

         "Managing Underwriters" means the investment banker or investment
bankers and manager or managers that shall administer an underwritten offering,
if any, conducted pursuant to Section 6 hereof.

         "NASD Rules" means the Rules of the National Association of Securities
Dealers, Inc., as amended from time to time.

         "Notice and Questionnaire" means a Selling Securityholder Notice and
Questionnaire substantially in the form of Annex A to the Offering Memorandum
dated August 7, 2003 relating to the offering of the Securities.

         The term "person" means an individual, partnership, corporation, trust
or unincorporated organization, or a government or agency or political
subdivision thereof.

         "Prospectus" means the prospectus (including, without limitation, any
preliminary prospectus, any final prospectus and any prospectus that discloses
information previously omitted from a prospectus filed as part of an effective
registration statement in reliance upon Rule 430A under the Securities Act)
included in the Shelf Registration Statement, as amended or supplemented by any
prospectus supplement with respect to the terms of the offering of any portion
of the Registrable Securities covered by the Shelf Registration Statement and by
all other amendments and supplements to such prospectus, including all material
incorporated by reference in such prospectus and all documents filed after the
date of such prospectus by the Company under the Exchange Act and incorporated
by reference therein.

         "Purchase Agreement" means the purchase agreement, dated as of August
7, 2003 between the Purchasers and the Company relating to the Securities.

                                       2

<PAGE>

         "Purchasers" means the Purchasers named in Schedule I to the Purchase
Agreement.

         "Registrable Securities" means all or any portion of the Securities
issued from time to time under the Indenture in registered form and the shares
of Stock issuable upon conversion of such Securities; provided, however, that a
security ceases to be a Registrable Security when it is no longer a Restricted
Security.

         "Registration Default" has the meaning assigned thereto in Section 7(a)
hereof.

         "Restricted Security" means any Security or share of Stock issuable
upon conversion thereof, except any such Security or share of Stock that (i) has
been effectively registered under the Securities Act and sold in a manner
contemplated by the Shelf Registration Statement, (ii) has been transferred in
compliance with Rule 144 under the Securities Act (or any successor provision
thereto) or is transferable pursuant to paragraph (k) of such Rule 144 (or any
successor provision thereto) or (iii) has otherwise been transferred and a new
Security or share of Stock not subject to transfer restrictions under the
Securities Act has been delivered by or on behalf of the Company in accordance
with Section 2.05 of the Indenture.

         "Rules and Regulations" means the published rules and regulations of
the Commission promulgated under the Securities Act or the Exchange Act, as in
effect at any relevant time.

         "Securities Act" means the United States Securities Act of 1933, as
amended.

         "Shelf Registration" means a registration effected pursuant to Section
2 hereof.

         "Shelf Registration Statement" means a "shelf" registration statement
filed under the Securities Act providing for the registration of, and the sale
on a continuous or delayed basis by the Holders of, all of the Registrable
Securities pursuant to Rule 415 under the Securities Act and/or any similar rule
that may be adopted by the Commission, filed by the Company pursuant to the
provisions of Section 2 of this Agreement, including the Prospectus contained
therein, any amendments and supplements to such registration statement,
including post-effective amendments, and all exhibits and all material
incorporated by reference in such registration statement.

         "Stock" means the Company's common stock, par value $1.00 per share.

         "Trust Indenture Act" means the Trust Indenture Act of 1939, or any
successor thereto, and the rules, regulations and forms promulgated thereunder,
as the same shall be amended from time to time.

         The term "underwriter" means any underwriter of Registrable Securities
in connection with an offering thereof under a Shelf Registration Statement.

         (b) Wherever there is a reference in this Agreement to a percentage of
the "principal amount" of Registrable Securities or to a percentage of
Registrable Securities, Stock shall be treated as representing the principal
amount of Securities that was surrendered for conversion or exchange in order to
receive such number of shares of Stock.

         2.  Shelf Registration.

                                       3

<PAGE>

         (a) The Company shall, no later than 90 calendar days following the
Closing Date, file with the Commission a Shelf Registration Statement relating
to the offer and sale of the Registrable Securities by the Holders from time to
time in accordance with the methods of distribution elected by such Holders and
set forth in such Shelf Registration Statement and, thereafter, shall use its
reasonable best efforts to cause such Shelf Registration Statement to be
declared effective under the Securities Act no later than 180 calendar days
following the Closing Date; provided, however, that the Company may, upon
written notice to all Holders, postpone having the Shelf Registration Statement
declared effective for a reasonable period not to exceed 90 days if the Company
possesses material non-public information, the disclosure of which would have a
material adverse effect on the Company and its subsidiaries taken as a whole;
provided, further, however, that no Holder shall be entitled to be named as a
selling securityholder in the Shelf Registration Statement or to use the
Prospectus forming a part thereof for resales of Registrable Securities unless
such Holder is an Electing Holder.

         (b) The Company shall use its reasonable best efforts:

             (i)  to keep the Shelf Registration Statement continuously
         effective under the Securities Act in order to permit the Prospectus
         forming a part thereof to be usable by Holders until the earlier of (1)
         the sale of all Registrable Securities registered under the Shelf
         Registration Statement and (2) the expiration of the holding period
         with respect to Registrable Securities under Rule 144(k) under the
         Securities Act (the period from the Effective Time until the earlier of
         (1) and (2) above, the "Effectiveness Period"); and

             (ii) after the Effective Time of the Shelf Registration Statement
         as promptly as practicable following the request of any Holder of
         Registrable Securities that is not then an Electing Holder, to take any
         action reasonably necessary to enable such Holder to use the Prospectus
         forming a part thereof for resales of Registrable Securities,
         including, without limitation, any action necessary to identify such
         Holder as a selling securityholder in the Shelf Registration Statement;
         provided, however, that nothing in this subparagraph shall relieve such
         Holder of the obligation to return a completed and signed Notice and
         Questionnaire to the Company in accordance with Section 3(a)(ii)
         hereof.

The Company shall be deemed not to have used its reasonable best efforts to keep
the Shelf Registration Statement effective during the requisite period if the
Company voluntarily takes any action that would result in Holders of Registrable
Securities covered thereby not being able to offer and sell any of such
Registrable Securities during that period, unless such action is (A) required by
applicable law and the Company thereafter promptly complies with the
requirements of paragraph 3(j) below or (B) permitted pursuant to Section 2(c)
below.

         (c) The Company may suspend the use of the Prospectus for a period not
to exceed an aggregate of 90 days in any 12-month period if the Board of
Directors, the Chief Executive Officer, the Chief Operating Officer or the Chief
Financial Officer of the Company shall have determined in good faith that
because of valid business reasons (not including avoidance of the Company's
obligations hereunder), including the acquisition or divestiture of assets, a
merger, consolidation, share exchange or other business combination (including
pending discussions concerning a transaction of the foregoing types), pending
corporate developments and similar events, it is in the best interests of the
Company to suspend such use, and prior to or contemporaneous with suspending
such use the Company provides the Holders with written

                                       4

<PAGE>

notice of such suspension, which notice shall not specify the nature of the
event giving rise to such suspension.

         3.      Registration Procedures. In connection with the Shelf
Registration Statement, the following provisions shall apply:

         (a) (i) Not less than 30 calendar days prior to the Effective Time of
the Shelf Registration Statement, the Company shall mail the Notice and
Questionnaire to the Holders of Registrable Securities along with notice of the
fact that the Company has filed or intends to file the Shelf Registration
Statement with the Commission. No Holder shall be entitled to be named as a
selling securityholder in the Shelf Registration Statement as of the Effective
Time, and no Holder shall be entitled to use the Prospectus forming a part
thereof for resales of Registrable Securities at any time, unless such Holder
has returned a completed and signed Notice and Questionnaire to the Company at
least five Business Days prior to the Effective Time; provided, however, that
Holders of Registrable Securities shall have at least 28 calendar days from the
date on which the Notice and Questionnaire is first mailed to such Holders to
return a completed and signed Notice and Questionnaire to the Company.

                 (ii)  After the Effective Time of the Shelf Registration
         Statement, the Company shall, upon the request of any Holder of
         Registrable Securities that is not then an Electing Holder, promptly
         send a Notice and Questionnaire to such Holder. The Company shall not
         be required to take any action to name such Holder as a selling
         securityholder in the Shelf Registration Statement or to enable such
         Holder to use the Prospectus forming a part thereof for resales of
         Registrable Securities until such Holder has returned a completed and
         signed Notice and Questionnaire to the Company.

                 (iii) The term "Electing Holder" shall mean any Holder of
         Registrable Securities that has returned a completed and signed Notice
         and Questionnaire to the Company in accordance with Section 3(a)(i) or
         3(a)(ii) hereof.

         (b)     The Company shall furnish to each Electing Holder, prior to the
Effective Time, a copy of the Shelf Registration Statement initially filed with
the Commission, and shall furnish to such Holders, prior to the filing thereof
with the Commission, copies of each amendment thereto and each amendment or
supplement, if any, to the Prospectus included therein (other than amendments or
supplements adding other Holders as Electing Holders or otherwise affecting
other Holders only), and shall use its reasonable best efforts to reflect in
each such document, or in a subsequent filing, at the Effective Time or when so
filed with the Commission, as the case may be, such comments as such Holders and
their respective counsel reasonably may propose.

         (c)     The Company shall promptly take such action as may be necessary
so that (i) each of the Shelf Registration Statement and any amendment thereto
and the Prospectus forming a part thereof and any amendment or supplement
thereto (and each report or other document incorporated therein by reference in
each case) complies in all material respects with the Securities Act and the
Exchange Act and the respective rules and regulations thereunder, (ii) each of
the Shelf Registration Statement and any amendment thereto does not, when it
becomes effective, contain an untrue statement of a material fact or omit to
state a material fact required to be stated therein or necessary to make the
statements therein not misleading and (iii) each of the Prospectus forming a
part of the Shelf Registration Statement, and any amendment or supplement to
such Prospectus, does not at any time during the Effectiveness Period include an
untrue statement of a material fact or omit to state a material fact necessary

                                       5

<PAGE>

in order to make the statements therein, in the light of the circumstances under
which they were made, not misleading.

         (d) The Company shall promptly advise each Electing Holder, and shall
confirm such advice in writing if so requested by any such Electing Holder:

            (i)   when a Shelf Registration Statement and any amendment thereto
         has been filed with the Commission and when a Shelf Registration
         Statement or any post-effective amendment thereto has become effective,
         in each case by making a public announcement thereof by release made to
         Reuters Economic Services and Bloomberg Business News;

            (ii)  of any request by the Commission for amendments or supplements
         to the Shelf Registration Statement or the Prospectus included therein
         or for additional information;

            (iii) of the issuance by the Commission of any stop order suspending
         the effectiveness of the Shelf Registration Statement or the initiation
         of any proceedings for such purpose;

            (iv)  of the receipt by the Company of any notification with respect
         to the suspension of the qualification of the securities included in
         the Shelf Registration Statement for sale in any jurisdiction or the
         initiation of any proceeding for such purpose; and

            (v)   subject to the limitations of Section 2(c) hereof, of the
         occurrence of any event or the existence of any state of facts that
         requires the making of any changes in the Shelf Registration Statement
         or the Prospectus included therein so that, as of such date, such Shelf
         Registration Statement and Prospectus do not contain an untrue
         statement of a material fact and do not omit to state a material fact
         required to be stated therein or necessary to make the statements
         therein (in the case of the Prospectus, in light of the circumstances
         under which they were made) not misleading (which advice shall be
         accompanied by an instruction to such Holders to suspend the use of the
         Prospectus until the requisite changes have been made).

         (e) The Company shall use its reasonable best efforts to prevent the
issuance, and if issued to obtain the withdrawal at the earliest possible time,
of any stop order suspending the effectiveness of the Shelf Registration
Statement.

         (f) The Company shall furnish to each Electing Holder, without charge,
at least one copy of the Shelf Registration Statement and all post-effective
amendments thereto, including financial statements and schedules.

         (g) The Company shall, during the Effectiveness Period, deliver to each
Electing Holder, without charge, as many copies of the Prospectus (including
each preliminary Prospectus) included in the Shelf Registration Statement and
any amendment or supplement thereto (other than amendments or supplements adding
other Holders as Electing Holders or otherwise affecting other Holders only) as
such Electing Holder may reasonably request; and the Company consents (except
during the periods specified in Section 2(c) above or during the continuance of
any event or the existence of any state of facts described in Section 3(d)(v)

                                       6

<PAGE>

above) to the use of the Prospectus and any amendment or supplement thereto by
each of the Electing Holders in connection with the offering and sale of the
Registrable Securities covered by the Prospectus and any amendment or supplement
thereto during the Effectiveness Period.

         (h) Prior to any offering of Registrable Securities pursuant to the
Shelf Registration Statement, the Company shall (i) register or qualify or
cooperate with the Electing Holders and their respective counsel in connection
with the registration or qualification of such Registrable Securities for offer
and sale under the securities or "blue sky" laws of such jurisdictions within
the United States as any Electing Holder may reasonably request, (ii) keep such
registrations or qualifications in effect and comply with such laws so as to
permit the continuance of offers and sales in such jurisdictions for so long as
may be necessary to enable any Electing Holder or underwriter, if any, to
complete its distribution of Registrable Securities pursuant to the Shelf
Registration Statement, and (iii) take any and all other actions necessary or
advisable to enable the disposition in such jurisdictions of such Registrable
Securities; provided, however, that in no event shall the Company be obligated
to (A) qualify as a foreign corporation or as a dealer in securities in any
jurisdiction where it would not otherwise be required to so qualify but for this
Section 3(h) or (B) file any general consent to service of process in any
jurisdiction where it is not as of the date hereof so subject.

         (i) Unless any Registrable Securities shall be in book-entry only form,
the Company shall cooperate with the Electing Holders to facilitate the timely
preparation and delivery of certificates representing Registrable Securities to
be sold pursuant to the Shelf Registration Statement, which certificates, if so
required by any securities exchange upon which any Registrable Securities are
listed, shall be penned, lithographed or engraved, or produced by any
combination of such methods, on steel engraved borders, and which certificates
shall be free of any restrictive legends and in such permitted denominations and
registered in such names as Electing Holders may request in connection with the
sale of Registrable Securities pursuant to the Shelf Registration Statement.

         (j) Upon the occurrence of any event or the existence of any state of
facts contemplated by paragraph 3(d)(v) above, the Company shall promptly
prepare a post-effective amendment to any Shelf Registration Statement or an
amendment or supplement to the related Prospectus or file any other required
document so that, as thereafter delivered to purchasers of the Registrable
Securities included therein, the Prospectus will not include an untrue statement
of a material fact or omit to state any material fact required to be stated
therein or necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading. If the Company
notifies the Electing Holders of the occurrence of any event or the existence of
any state of facts contemplated by paragraph 3(d)(v) above, the Electing Holder
shall suspend use of the Prospectus until the requisite changes to the
Prospectus have been made.

         (k) Not later than the Effective Time of the Shelf Registration
Statement, the Company shall provide a CUSIP number for the Registrable
Securities that are debt securities.

         (l) The Company shall use its reasonable best efforts to comply with
all applicable Rules and Regulations, and to make generally available to its
securityholders as soon as practicable, after (i) the effective date (as defined
in Rule 158(c) under the Securities Act) of the Shelf Registration Statement,
(ii) the effective date of each post-effective amendment to the Shelf
Registration Statement, and (iii) the date of each filing by the Company with
the Commission of an Annual Report on Form 10-K that is incorporated by
reference in the Shelf

                                       7

<PAGE>

Registration Statement, an earnings statement of the Company and its
subsidiaries complying with Section 11(a) of the Securities Act and the rules
and regulations of the Commission thereunder (including, at the option of the
Company, Rule 158).

         (m) Not later than the Effective Time of the Shelf Registration
Statement, the Company shall cause the Indenture to be qualified under the Trust
Indenture Act; in connection with such qualification, the Company shall
cooperate with the Trustee under the Indenture and the Holders (as defined in
the Indenture) to effect such changes to the Indenture as may be required for
such Indenture to be so qualified in accordance with the terms of the Trust
Indenture Act; and the Company shall execute, and shall use all reasonable
efforts to cause the Trustee to execute, all documents that may be required to
effect such changes and all other forms and documents required to be filed with
the Commission to enable such Indenture to be so qualified in a timely manner.
In the event that any such amendment or modification referred to in this Section
3(m) involves the appointment of a new trustee under the Indenture, the Company
shall appoint a new trustee thereunder pursuant to the applicable provisions of
the Indenture.

         (n) In the event of an underwritten offering conducted pursuant to
Section 6 hereof, the Company shall, if requested, promptly include or
incorporate in a Prospectus supplement or post-effective amendment to the Shelf
Registration Statement such information as the Managing Underwriters reasonably
agree should be included therein and to which the Company does not reasonably
object and shall make all required filings of such Prospectus supplement or
post-effective amendment as soon as practicable after it is notified of the
matters to be included or incorporated in such Prospectus supplement or
post-effective amendment.

         (o) The Company shall enter into such customary agreements (including
an underwriting agreement in customary form in the event of an underwritten
offering conducted pursuant to Section 6 hereof) and take all other appropriate
action in order to expedite and facilitate the registration and disposition of
the Registrable Securities, and in connection therewith, if an underwriting
agreement is entered into, cause the same to contain indemnification provisions
and procedures substantially identical to those set forth in Section 5 hereof
with respect to all parties to be indemnified pursuant to Section 5 hereof.

         (p) The Company shall:

             (i)(A) make reasonably available for inspection by any underwriter
         participating in any disposition pursuant to the Shelf Registration
         Statement, and any attorney, accountant or other agent retained by any
         such underwriter all relevant financial and other records, pertinent
         corporate documents and properties of the Company and its subsidiaries,
         and (B) cause the Company's officers, directors and employees to supply
         all information reasonably requested by any such underwriter, attorney,
         accountant or agent in connection with the Shelf Registration
         Statement, in each case, as is customary for similar due diligence
         examinations; provided, however, that all records, information and
         documents that are designated in writing by the Company, in good faith,
         as confidential shall be kept confidential by any such underwriter,
         attorney, accountant or agent, unless such disclosure is made in
         connection with a court proceeding or required by law, or such records,
         information or documents become available to the public generally or
         through a third party without an accompanying obligation of
         confidentiality;

             (ii) in connection with any underwritten offering conducted
         pursuant to Section 6 hereof, make such representations and warranties
         to the Electing Holders

                                       8

<PAGE>

         participating in such underwritten offering and to the Managing
         Underwriters, in form, substance and scope as are customarily made by
         the Company to underwriters in primary underwritten offerings of
         convertible debt securities and covering matters set forth in the
         Purchase Agreement, it being understood and agreed that representations
         and warranties comparable to those contemplated by the Purchase
         Agreement, as amended to reflect a registered offering, shall be
         satisfactory;

             (iii) in connection with any underwritten offering conducted
         pursuant to Section 6 hereof, obtain opinions of counsel to the Company
         (which counsel and opinions in form, scope and substance shall be
         reasonably satisfactory to the Managing Underwriters, it being
         understood and agreed that opinions comparable to those contemplated by
         the Purchase Agreement, as amended to reflect a registered offering,
         shall be satisfactory) addressed to each Electing Holder participating
         in such underwritten offering and the underwriters, covering such
         matters as are customarily covered in opinions requested in primary
         underwritten offerings by the Company of convertible debt securities
         (it being agreed that the matters to be covered by such opinions shall
         include, in form, scope and substance comparable to the opinions
         contemplated by the Purchase Agreement, as amended to reflect a
         registered offering, as of the date of the opinion and as of the
         Effective Time of the Shelf Registration Statement or most recent
         post-effective amendment thereto, as the case may be, the absence from
         the Shelf Registration Statement and the Prospectus, including the
         documents incorporated by reference therein, of an untrue statement of
         a material fact or the omission of a material fact required to be
         stated therein or necessary to make the statements therein not
         misleading);

             (iv)  in connection with any underwritten offering conducted
         pursuant to Section 6 hereof, obtain "cold comfort" letters and updates
         thereof from the independent public accountants of the Company (and, if
         necessary, from the independent public accountants of any subsidiary of
         the Company or of any business acquired by the Company for which
         financial statements and financial data are, or are required to be,
         included in the Shelf Registration Statement), addressed to each
         Electing Holder participating in such underwritten offering (if such
         Electing Holder has provided such letter, representations or
         documentation, if any, required for such "cold comfort" letter to be so
         addressed) and the underwriters, in customary form and covering matters
         of the type customarily covered in "cold comfort" letters in connection
         with primary underwritten offerings by the Company of convertible debt
         securities, it being understood and agreed that "cold comfort" letters
         comparable to those contemplated by the Purchase Agreement, as amended
         to reflect a registered offering, shall be satisfactory;

             (v)   in connection with any underwritten offering conducted
         pursuant to Section 6 hereof, deliver such documents and certificates
         as may be reasonably requested by any Electing Holders participating in
         such underwritten offering and the Managing Underwriters, if any,
         including, without limitation, certificates to evidence compliance with
         Section 3(j) hereof and with any conditions contained in the
         underwriting agreement or other agreements entered into by the Company,
         which certificates in each case shall be comparable to those required
         by the terms and conditions of the Purchase Agreement, as amended to
         reflect a registered offering.

         (q) The Company will use its reasonable best efforts to cause the Stock
issuable upon conversion of the Securities to be listed on the New York Stock
Exchange or other stock

                                       9

<PAGE>

exchange or trading system on which the Stock primarily trades on or prior to
the Effective Time of the Shelf Registration Statement hereunder.

         (r) In the event that any broker-dealer registered under the Exchange
Act shall be an "affiliate" (as defined in Rule 2720(b)(1) of the NASD Rules (or
any successor provision thereto)) of the Company or has a "conflict of interest"
(as defined in Rule 2720(b)(7) of the NASD Rules (or any successor provision
thereto)) and such broker-dealer shall underwrite, participate as a member of an
underwriting syndicate or selling group or assist in the distribution of any
Registrable Securities covered by the Shelf Registration Statement, whether as a
Holder of such Registrable Securities or as an underwriter, a placement or sales
agent or a broker or dealer in respect thereof, or otherwise, the Company shall
assist such broker-dealer in complying with the requirements of the NASD Rules,
including, without limitation, by (A) engaging a "qualified independent
underwriter" (as defined in Rule 2720(b)(15) of the NASD Rules (or any successor
provision thereto)) to participate in the preparation of the Shelf Registration
Statement, to exercise usual standards of due diligence in respect thereto and
to recommend the public offering price of such Registrable Securities, (B)
indemnifying such qualified independent underwriter to the extent of the
indemnification of underwriters provided in Section 5 hereof, and (C) providing
such information to such broker-dealer as may be required in order for such
broker-dealer to comply with the requirements of the NASD Rules.

         (s) The Company shall use its reasonable best efforts to take all other
steps necessary to effect the registration of the Registrable Securities covered
by the Shelf Registration Statement contemplated hereby.

         4.  Registration Expenses. Except as otherwise provided in Section 3,
the Company shall bear all fees and expenses incurred in connection with the
performance of its obligations under Sections 2, 3 and 6 hereof. Each Electing
Holder shall pay all underwriting discounts and commissions and transfer taxes,
if any, relating to the sale or disposition of such Electing Holder's
Registrable Securities pursuant to the Shelf Registration Statement, and the
fees and disbursements of its counsel and other representatives.

         5.  Indemnification and Contribution.

         (a) Indemnification by the Company. Upon the registration of the
Registrable Securities pursuant to Section 2 hereof, the Company shall indemnify
and hold harmless each Electing Holder and each underwriter, selling agent or
other securities professional, if any, which facilitates the disposition of
Registrable Securities, and each person, if any, who controls such Electing
Holder, underwriter, selling agent or other securities professional within the
meaning of Section 15 of the Securities Act (each such person being sometimes
referred to as an "Indemnified Person") against any losses, claims, damages or
liabilities, joint or several, to which such Indemnified Person may become
subject under the Securities Act or otherwise, insofar as such losses, claims,
damages or liabilities (or actions in respect thereof) arise solely out of or
are based solely upon an untrue statement or alleged untrue statement of a
material fact contained in any Shelf Registration Statement under which such
Registrable Securities are to be registered under the Securities Act, or any
Prospectus contained therein or furnished by the Company to any Indemnified
Person, or any amendment or supplement thereto, or arise solely out of or are
based solely upon the omission or alleged omission to state therein a material
fact required to be stated therein or necessary to make the statements therein
not misleading, and the Company hereby agrees to reimburse such Indemnified
Person for any reasonable investigation, legal and other expenses incurred in
connection with, and any amount

                                       10

<PAGE>

paid in settlement of, any action, suit or proceeding or any claim asserted,
provided that legal expenses relate to counsel acceptable to the Company;
provided, however, that the Company shall not be liable to any such Indemnified
Person in any such case to the extent that any such untrue statement or alleged
untrue statement or omission or alleged omission was made in such Shelf
Registration Statement or Prospectus, or amendment or supplement, in reliance
upon and in conformity with written information furnished to the Company by such
Indemnified Person expressly for use therein.

         (b) Indemnification by the Electing Holders and any Agents and
Underwriters. Each Electing Holder agrees, as a consequence of the inclusion of
any of such Electing Holder's Registrable Securities in such Shelf Registration
Statement, and each underwriter, selling agent or other securities professional,
if any, which facilitates the disposition of Registrable Securities shall agree,
as a consequence of facilitating such disposition of Registrable Securities,
severally and not jointly, to (i) indemnify and hold harmless the Company, its
directors, officers and each person, if any, who controls the Company within the
meaning of Section 15 of the Securities Act, against any losses, claims, damages
or liabilities to which the Company or such other persons may become subject,
under the Securities Act or otherwise, insofar as such losses, claims, damages
or liabilities (or actions in respect thereof) arise solely out of or are based
solely upon an untrue statement or alleged untrue statement of a material fact
contained in such Shelf Registration Statement or any Prospectus contained
therein, or any amendment or supplement thereto, or arise solely out of or are
based solely upon the omission or alleged omission to state therein a material
fact required to be stated therein or necessary to make the statements therein
not misleading, in each case to the extent, but only to the extent, that such
untrue statement or alleged untrue statement or omission or alleged omission was
made in reliance upon and in conformity with written information furnished to
the Company by such Electing Holder, underwriter, selling agent or other
securities professional expressly for use therein, and (ii) reimburse the
Company for any reasonable investigation, legal and other expenses incurred in
connection with, and any amount paid in settlement of, any action, suit or
proceeding or any claim asserted, provided that legal expenses relate to counsel
acceptable to such Electing Holder, underwriter, selling agent or other
securities professional.

         (c) Notices of Claims, Etc. Promptly after receipt by an indemnified
party under subsection (a) or (b) above of notice of the commencement of any
action, such indemnified party shall, if a claim in respect thereof is to be
made against an indemnifying party under this Section 5, notify such
indemnifying party in writing of the commencement thereof, enclosing a copy of
all papers served; but the omission so to notify the indemnifying party shall
not relieve it from any liability which it may have to any indemnified party
otherwise than under the indemnification provisions of or contemplated by
subsection (a) or (b) above (it being understood that the omission so to notify
such indemnifying party shall relieve it from any liability it may have to any
indemnified party under this Section 5). In case any such action shall be
brought against any indemnified party and it shall notify an indemnifying party
of the commencement thereof, such indemnifying party shall be entitled to
participate therein and, to the extent that it shall wish, jointly with any
other indemnifying party similarly notified, to assume the defense thereof, with
counsel satisfactory to such indemnified party, and, after notice from the
indemnifying party to such indemnified party of its election so to assume the
defense thereof, such indemnifying party shall not be liable to such indemnified
party under this Section 5 for any legal expenses of other counsel or any other
expenses, in connection with the defense thereof other than reasonable costs of
investigation subsequently incurred. The indemnified party shall have the right
to employ its counsel in any such action, but the fees and expenses of such
counsel shall be at the expense of such indemnified party unless (i) the

                                       11

<PAGE>

employment of counsel by such indemnified party has been authorized in writing
by the indemnifying party or parties, (ii) the indemnified party shall have
reasonably concluded that there may be a conflict of interest between the
indemnifying party or parties and the indemnified party in the conduct of the
defense of such action (in which case the indemnifying party or parties shall
not have the right to direct the defense of such action on behalf of the
indemnified party) or (iii) the indemnifying party or parties shall not in fact
have employed counsel to assume the defense of such action, in each of which
cases the fees and expenses of counsel shall be at the expense of the
indemnifying party or parties. In the event that the indemnified party retains
separate counsel pursuant to clauses (i), (ii) or (iii) of the previous
sentence, such counsel shall be reasonably acceptable to the indemnifying party.
No indemnifying party shall, without the written consent of the indemnified
party, effect the settlement or compromise of, or consent to the entry of any
judgment with respect to, any pending or threatened action or claim in respect
of which indemnification or contribution may be sought hereunder.

         (d) Contribution. If the indemnification provided for in this Section 5
is unavailable to hold harmless an indemnified party under subsection (a) or (b)
above in respect of any losses, claims, damages or liabilities (or actions in
respect thereof) referred to therein (other than because such indemnification by
its terms does not apply), then each indemnifying party shall contribute to the
amount paid or payable by such indemnified party as a result of such losses,
claims, damages or liabilities (or actions in respect thereof) in such
proportion as is appropriate to reflect the relative fault of the indemnifying
party and the indemnified party in connection with the statements or omissions
which resulted in such losses, claims, damages or liabilities (or actions in
respect thereof), as well as any other relevant equitable considerations. The
relative fault of such indemnifying party and indemnified party shall be
determined by reference to, among other things, whether the untrue or alleged
untrue statement of a material fact or omission or alleged omission to state a
material fact relates to information supplied by such indemnifying party or by
such indemnified party, and the parties' relative intent, knowledge, access to
information and opportunity to correct or prevent such statement or omission.
The parties hereto agree that it would not be just and equitable if contribution
pursuant to this Section 5(d) were determined by pro rata allocation (even if
the Electing Holders or any underwriters, selling agents or other securities
professionals or all of them were treated as one entity for such purpose) or by
any other method of allocation which does not take account of the equitable
considerations referred to in this Section 5(d). The amount paid or payable by
an indemnified party as a result of the losses, claims, damages or liabilities
(or actions in respect thereof) referred to above shall be deemed to include any
legal or other fees or expenses reasonably incurred by such indemnified party in
connection with investigating or defending any such action or claim. No person
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the Securities Act) shall be entitled to contribution from any person who was
not guilty of such fraudulent misrepresentation. The obligations of the Electing
Holders and any underwriters, selling agents or other securities professionals
in this Section 5(d) to contribute shall be several in proportion to the
percentage of principal amount of Registrable Securities registered or
underwritten, as the case may be, by them and not joint.

         (e) Notwithstanding any other provision of this Section 5, in no event
will any (i) Electing Holder be required to undertake liability to any person
under this Section 5 for any amounts in excess of the dollar amount of the
proceeds to be received by such Holder from the sale of such Holder's
Registrable Securities (after deducting any fees, discounts and commissions
applicable thereto) pursuant to any Shelf Registration Statement under which
such Registrable Securities are to be registered under the Securities Act and
(ii) underwriter, selling agent or other securities professional be required to
undertake liability to any person

                                       12

<PAGE>

hereunder for any amounts in excess of the total price at which the Registrable
Securities underwritten by it were offered to the public.

         (f) The obligations of the Company under this Section 5 shall be in
addition to any liability which the Company may otherwise have to any
Indemnified Person and the obligations of any Indemnified Person under this
Section 5 shall be in addition to any liability which such Indemnified Person
may otherwise have to the Company. The remedies provided in this Section 5 are
not exclusive and shall not limit any rights or remedies which may otherwise be
available to an indemnified party at law or in equity. The obligations of the
Company under this Section 5 shall extend, upon the same terms and conditions,
to each person, if any, who controls any Indemnified Person within the meaning
of the Securities Act; and the obligations of the Indemnified Persons under this
Section 5 shall extend, upon the same terms and conditions, to each officer and
director of the Company and to each person, if any, who controls the Company
within the meaning of the Securities Act.

         6.  Underwritten Offering. Any Holder of Registrable Securities who
desires to do so may sell Registrable Securities (in whole or in part) in an
underwritten offering; provided that (i) the Electing Holders of at least
33-1/3% in aggregate principal amount of the Registrable Securities then covered
by the Shelf Registration Statement shall request such an offering and (ii) at
least such aggregate principal amount of such Registrable Securities shall be
included in such offering; and provided further that no underwritten offering
may be conducted without the prior agreement of the Company. Upon receipt of
such a request and consent by the Company to such request, the Company shall
provide all Holders of Registrable Securities written notice of the request,
which notice shall inform such Holders that they have the opportunity to
participate in the offering. In any such underwritten offering, the investment
banker or bankers and manager or managers that will administer the offering will
be selected by, and the underwriting arrangements with respect thereto
(including the size of the offering) will be approved by, the holders of a
majority of the Registrable Securities to be included in such offering;
provided, however, that such investment bankers and managers and underwriting
arrangements must be reasonably satisfactory to the Company. No Holder may
participate in any underwritten offering contemplated hereby unless (a) such
Holder agrees to sell such Holder's Registrable Securities to be included in the
underwritten offering in accordance with any approved underwriting arrangements,
(b) such Holder completes and executes all reasonable questionnaires, powers of
attorney, indemnities, underwriting agreements, lock-up letters and other
documents required under the terms of such approved underwriting arrangements,
and (c) if such Holder is not then an Electing Holder, such Holder returns a
completed and signed Notice and Questionnaire to the Company in accordance with
Section 3(a)(ii) hereof within a reasonable amount of time before such
underwritten offering. The Holders participating in any underwritten offering
shall be responsible for any underwriting discounts and commissions and fees
and, subject to Section 4 hereof, expenses of their own counsel. The Company
shall pay all expenses customarily borne by issuers in an underwritten offering,
including but not limited to filing fees, the fees and disbursements of its
counsel and independent public accountants and any printing expenses incurred in
connection with such underwritten offering. Notwithstanding the foregoing or the
provisions of Section 3(n) hereof, upon receipt of a request from the Managing
Underwriter or a representative of holders of a majority of the Registrable
Securities to be included in an underwritten offering to prepare and file an
amendment or supplement to the Shelf Registration Statement and Prospectus in
connection with an underwritten offering, the Company may delay the filing of
any such amendment or supplement for up to 90 days if the Board of Directors,
Chief Executive Officer or Chief

                                       13

<PAGE>

Financial Officer of the Company shall have determined in good faith that the
Company has a bona fide business reason for such delay.

         7.  Additional Interest.

         (a) Notwithstanding any postponement of effectiveness permitted by
Section 2(a) hereof, if (i) on or prior to the 90th day following the Closing
Date, a Shelf Registration Statement has not been filed with the Commission or
(ii) on or prior to the 180th day following the Closing Date, such Shelf
Registration Statement is not declared effective by the Commission (each, a
"Registration Default"), the Company shall be required to pay additional
interest on the Securities ("Additional Interest") from and including the day
following such Registration Default until such Shelf Registration Statement is
either so filed or so filed and subsequently declared effective, as applicable,
at a rate per annum equal to an additional one-quarter of one percent (0.25%) of
the principal amount of Registrable Securities to and including the 90th day
following such Registration Default and one-half of one percent (0.50%) thereof
from and after the 91st day following such Registration Default.

         (b) In the event that (i) the Shelf Registration Statement ceases to be
effective, (ii) the Company suspends the use of the Prospectus pursuant to
Section 2(c) or 3(j) hereof, (iii) the Holders are not authorized to use the
Prospectus pursuant to Section 3(g) hereto or (iv) the Holders are otherwise
prevented or restricted by the Company from effecting sales pursuant to the
Shelf Registration Statement for more than 90 days, whether or not consecutive,
during any 12-month period (an "Effective Failure"), then the Company shall pay
Additional Interest at a rate per annum equal to an additional one-quarter of
one percent (0.25%) of the principal amount of Registrable Securities to and
including the 90th day following an Effective Failure, and one-half of one
percent (0.50%) thereof from and after the 91st day following such Effective
Failure, in each case until the earlier of (1) the time the Holders of
Registrable Securities are again able to make sales under the Shelf Registration
Statement or (2) the expiration of the Effectiveness Period; provided, however,
that such Additional Interest shall be payable only to Holders of Registrable
Securities that have delivered a timely and properly completed Notice and
Questionnaire.

         (c) Any amounts to be paid as Additional Interest pursuant to
paragraphs (a) or (b) of this Section 7 shall be paid in cash semi-annually in
arrears, with the first semi-annual payment due on the first Interest Payment
Date (as defined in the Indenture), as applicable, following the date of such
Registration Default or Effective Failure, as applicable. Such Additional
Interest will accrue at the rates set forth in paragraphs (a) or (b) of this
Section 7, as applicable, on the principal amount of the Securities.

         (d) Except as provided in Section 8(b) hereof, the Additional Interest
as set forth in this Section 7 shall be the exclusive monetary remedy available
to the Holders of Registrable Securities for such Registration Default or
Effective Failure. In no event shall the Company be required to pay Additional
Interest in excess of the applicable maximum amount of one-half of one percent
(0.50%) set forth above, regardless of whether one or multiple Registration
Defaults or Effective Failures exist.

         8.  Miscellaneous.

         (a) Other Registration Rights. The Company may grant registration
rights that would permit any person that is a third party the right to
piggy-back on any Shelf Registration Statement, provided that if the Managing
Underwriter of any underwritten offering conducted

                                       14

<PAGE>

pursuant to Section 6 hereof notifies the Company and the Electing Holders that
the total amount of securities which the Electing Holders and the holders of
such piggy-back rights intend to include in any Shelf Registration Statement is
so large as to materially threaten the success of such offering (including the
price at which such securities can be sold), then the amount, number or kind of
securities to be offered for the account of holders of such piggy-back rights
will be reduced to the extent necessary to reduce the total amount of securities
to be included in such offering to the amount, number and kind recommended by
the Managing Underwriter prior to any reduction in the amount of Registrable
Securities to be included in such Shelf Registration Statement.

         (b) Specific Performance. The parties hereto acknowledge that there
would be no adequate remedy at law if the Company fails to perform any of its
obligations hereunder and that the Purchasers and the Holders from time to time
may be irreparably harmed by any such failure, and accordingly agree that the
Purchasers and such Holders, in addition to any other remedy to which they may
be entitled at law or in equity and without limiting the remedies available to
the Electing Holders under Section 7 hereof, shall be entitled to compel
specific performance of the obligations of the Company under this Agreement in
accordance with the terms and conditions of this Agreement, in any court of the
United States or any State thereof having jurisdiction.

         (c) Amendments and Waivers. This Agreement, including this Section
8(c), may be amended, and waivers or consents to departures from the provisions
hereof may be given, only by a written instrument duly executed by the Company
and the holders of a majority in aggregate principal amount of Registrable
Securities then outstanding; provided, however, that no change to the timing or
amount of Additional Interest may be made without the consent of all holders of
Registrable Securities. Each Holder of Registrable Securities outstanding at the
time of any such amendment, waiver or consent or thereafter shall be bound by
any amendment, waiver or consent effected pursuant to this Section 8(c), whether
or not any notice, writing or marking indicating such amendment, waiver or
consent appears on the Registrable Securities or is delivered to such Holder.

         (d) Notices. All notices and other communications provided for or
permitted hereunder shall be given as provided in the Indenture.

         (e) Parties in Interest. The parties to this Agreement intend that all
Holders of Registrable Securities shall be entitled to receive the benefits of
this Agreement and that any Electing Holder shall be bound by the terms and
provisions of this Agreement by reason of such election with respect to the
Registrable Securities which are included in a Shelf Registration Statement. All
the terms and provisions of this Agreement shall be binding upon, shall inure to
the benefit of and shall be enforceable by the respective successors and assigns
of the parties hereto and any Holder from time to time of the Registrable
Securities to the aforesaid extent. In the event that any transferee of any
Holder of Registrable Securities shall acquire Registrable Securities, in any
manner, whether by gift, bequest, purchase, operation of law or otherwise, such
transferee shall, without any further writing or action of any kind, be entitled
to receive the benefits of and, if an Electing Holder, be conclusively deemed to
have agreed to be bound by and to perform all of the terms and provisions of
this Agreement to the aforesaid extent.

         (f) Counterparts. This Agreement may be executed in any number of
counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be

                                       15

<PAGE>

deemed to be an original and all of which taken together shall constitute one
and the same agreement.

         (g) Headings. The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.

         (h) Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of New York.

         (i) Severability. In the event that any one or more of the provisions
contained herein, or the application thereof in any circumstances, is held
invalid, illegal or unenforceable in any respect for any reason, the validity,
legality and enforceability of any such provision in every other respect and of
the remaining provisions hereof shall not be in any way impaired or affected
thereby, it being intended that all of the rights and privileges of the parties
hereto shall be enforceable to the fullest extent permitted by law.

         (j) Survival. The respective indemnities, agreements, representations,
warranties and other provisions set forth in this Agreement or made pursuant
hereto shall remain in full force and effect, regardless of any investigation
(or any statement as to the results thereof) made by or on behalf of any
Electing Holder, any director, officer or partner of such Holder, any agent or
underwriter, any director, officer or partner of such agent or underwriter, or
any controlling person of any of the foregoing, and shall survive the transfer
and registration of the Registrable Securities of such Holder.

                                       16

<PAGE>

         Please confirm that the foregoing correctly sets forth the agreement
between the Company and you.

                                        Very truly yours,

                                        Lockheed Martin Corporation

                                        By: /s/ Anthony G. Van Schaick
                                           ------------------------------------
                                            Name:   Anthony G. Van Schaick
                                            Title:  Vice President and Treasurer

Accepted as of the date hereof:

Citigroup Global Markets Inc.

By: /s/ Stephen Edelman
   -------------------------------------
    Name: Stephen Edelman
    Title: Director

Goldman, Sachs & Co.

By: /s/ Goldman, Sachs & Co.
   -------------------------------------
    (Goldman, Sachs & Co.)

J.P. Morgan Securities Inc.

By: /s/ Robert M. Osieski
   -------------------------------------
    Name: Robert M. Osieski
    Title: Vice President

    On behalf of each of the Purchasers

                                       17

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