Document:

Exhibit 10.2

FORM OF

GLOBALSTAR, INC.

RESTRICTED
STOCK UNITS AGREEMENT

NON-U.S. DESIGNATED EXECUTIVE

Globalstar, Inc. (“Globalstar”)
has granted and has promised to grant to the Participant named in the Notice of Grant of Restricted Stock Units (the ”Grant Notice”) to which this Restricted Stock Units Agreement
(the “Agreement”)
is attached an Award and future Awards consisting of Restricted Stock Units subject
to the terms and conditions set forth in the Grant Notice and this
Agreement.  The Award has been granted,
and any future Award provided in the Grant Notice will be granted, pursuant to
the Globalstar, Inc. 2006 Equity Incentive Plan (the ”Plan”), as amended to the applicable Date of
Grant, the provisions of which are incorporated herein by reference.  By signing the Grant Notice, the Participant:  (a) acknowledges receipt of and
represents that the Participant has read and is familiar with the Grant Notice,
this Agreement, the Plan, a prospectus for
the Plan in the form most recently registered with the U.S. Securities and
Exchange Commission (the “Plan Prospectus”), and
the supplement to the Plan Prospectus for the Participant’s country of
residence (the “Information Statement”), (b) accepts the Award and each
future Award specified in the Grant Notice subject to all of the terms and
conditions of the Grant Notice, this Agreement and the Plan and (c) agrees
to accept as binding, conclusive and final all decisions or interpretations of
the Committee upon any questions arising under the Grant Notice, this Agreement
or the Plan.  The Awards provided in the
Grant Notice completely supersede and replace a supplemental executive
incentive compensation program that Globalstar previously provided to the
Participant under a “Designated Executive Incentive Compensation Memorandum”
effective as of November 1, 2004. 
This Agreement does not modify or otherwise affect Participant’s terms
and conditions of employment.  It does
not, expressly or by implication, create a contract for, or any assurance of, a
fixed or minimum duration of employment by Participant.  Participant acknowledges and agrees that all
agreements and understandings in this Agreement are expressly made subject to
all applicable terms and conditions of the Globalstar Personnel Policies and
Procedures Manual, and the Plan.

1.                                       DEFINITIONS AND CONSTRUCTION.

1.1                          Definitions. Capitalized
terms used in this Agreement but not defined in this Agreement have the
meanings given to them in the Plan.  In
the event of conflict in the definition of a capitalized term between this
Agreement and the Plan, the definition in this Agreement shall prevail,
subject, however, to Section 1.2.  As
used in this Agreement, the following terms have these meanings:

(a)                                  “Affiliate(s) (of Thermo)”
means persons, natural or otherwise, who, directly or indirectly, control, are
controlled by, or are under common control with Thermo.

(b)                                 “Annual Vesting Dates” means,
subject to fulfillment of applicable vesting conditions set out in
Section 4 of this Agreement, the first Trading Day of 2008, 2009, 2010,
and 2011 that is three business days after Globalstar shall have announced its 

earnings for the years ended, respectively,
on December 31, 2007, 2008, 2009, and 2010.

(c)                                  “Change of Control” means an event, or series of events, as a result of which
any party other than Thermo becomes the beneficial owner, directly or
indirectly, of securities of Globalstar representing more than fifty percent
(50%) of the combined voting power of Globalstar’s then-outstanding securities
entitled to vote generally in the election of Directors; provided,
however, that the following acquisitions shall not constitute a
Change of Control:  (1) an acquisition by
any such person who on the Effective Date is the beneficial owner of more than
fifty percent (50%) of such voting power, (2) any acquisition directly from
Globalstar, including without limitation a public offering of securities, (3)
any acquisition by Globalstar, (4) any acquisition by a trustee or other
fiduciary under an employee benefit plan of Globalstar, or (5) any acquisition
by an entity owned directly or indirectly by the stockholders of Globalstar in
substantially the same proportions as their ownership of the voting securities
of Globalstar.  The effective date of a
Change of Control will be determined from the documents under which the Change
of Control occurs.

(d)                                 “Dividend
Equivalent Units”
means additional Restricted Stock Units credited pursuant to Section 3.3.

(e)                                  “Effective Date” means the date of this Agreement.

(f)                                    “Fair Value of Services” Total
compensation (exclusive of compensation under this Agreement) that is at least
equal to the compensation that Participant would be entitled to receive if
employed on an arm’s length basis to perform the services for which Participant
accepts ongoing employment by the Company after a Change of Control, but under
no circumstances less than the salary, plus all benefits (exclusive of
compensation under this Agreement) that Participant was receiving from the
Company before the effective date of the Change of Control.

(g)                                 “Company” means any
applicable member of the Globalstar Group, as the context may require.

(h)                                 “Globalstar Group” means
Globalstar and, at any time, all entities that are directly or indirectly owned
or controlled by Globalstar.

(i)                                     “Insider Trading Policy” has
the meaning provided in Section 5.1 of this Agreement.

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(j)                                     “Plan” means the Globalstar,
Inc. 2006 Equity Incentive Plan, approved by the Board and by the stockholders
of the Company on July 12, 2006, as amended from time to time.

(k)                                  “Settlement Date” means the
date on which a Unit becomes a Vested Unit.

(l)                                     “Stock” means common stock of
Globalstar, $0.001 (US) par value per share, as adjusted from time to time in
accordance with Section 8.

(m)                               “Stock Exchange” means any stock exchange registered
under the Securities Exchange Act of 1934, including NASDAQ, on which Stock
shall been registered as of an applicable Settlement Date.

(n)                                 “Successor” means a successor
to Globalstar as a result of any Change of Control transaction or series of
transactions.

(o)                                 “Thermo” means collectively,
Globalstar Holdings LLC, a Delaware limited liability company, Globalstar
Satellite, LP, and Thermo Funding Company, LLC, both organized under the laws
of Colorado, and their respective Affiliates.

(p)                                 “Trading Day” means any day on
which Stock shall be traded on a Stock Exchange.

(q)                                 “Vested Units” means Units
that were issued under this Agreement that have vested under Section 4.

(r)                                    “Vesting Date” means any date,
including an Annual Vesting Date, on which Awards, or any portion thereof,
granted under this Award Agreement shall have become Vested Units.

(s)                                  “Units” means the Restricted Stock Units
originally granted pursuant to the Award and the Dividend Equivalent Units
credited pursuant to the Award, as both shall be adjusted from time to time
pursuant to Section 7.

1.2                          Construction.  Captions and titles contained herein are for
convenience only and shall not affect the meaning or interpretation of any
provision of this Agreement.  Except when
otherwise indicated by the context, the singular shall include the plural and
the plural shall include the singular. 
Use of the term “or” is not intended to be exclusive, unless the context
clearly requires otherwise.  This
Agreement is intended to be consistent with the Plan.  In the event of an irreconcilable conflict of
substance, this Agreement shall be interpreted to reconcile it with the
applicable provisions of the Plan.

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2.                                       ADMINISTRATION.

All questions of
interpretation concerning the Grant Notice and this Agreement shall be
determined by the Committee.  All
determinations by the Committee shall be final and binding upon all persons
having an interest in the Award.  Any Officer
of a Participating Company shall have the authority to act on behalf of the
Company with respect to any matter, right, obligation, or election which is the
responsibility of or which is allocated to the Company herein, provided the Officer
has apparent authority with respect to such matter, right, obligation, or
election.

3.                                       THE AWARDS.

3.1                          Grant of Restricted Stock Units.  On the applicable Date of Grant, the
Participant shall acquire, subject to the provisions of this Agreement, the
Number of Restricted Stock Units set forth in the Grant Notice, subject to
adjustment as provided in Section 7. 
Each Unit represents a right to receive on a date determined in
accordance with the Grant Notice and this Agreement one (1) share of Stock.

3.2                             No Monetary Payment Required.  The Participant is not required to make any
monetary payment (other than applicable tax and social insurance contributions withholding,
if any) as a condition to receiving the Units or shares of Stock issued in
settlement of the Units.  Notwithstanding
the foregoing, if required by applicable law, the Participant shall furnish
consideration in the form of cash having a value not less than the par value of
the shares of stock issued upon settlement of the Units.

3.3                             Dividend Equivalent Units. 
On the date that the Company pays a cash dividend to holders of Stock
generally, the Participant shall be credited with a number of additional whole
Dividend Equivalent Units determined by dividing (a) the product of
(i) the dollar amount of the cash dividend paid per share of Stock on such
date and (ii) the total number of Restricted Stock Units and Dividend
Equivalent Units previously credited to the Participant pursuant to the Award
and which have not been settled or forfeited as of such date, by (b) the
Fair Market Value per share of Stock on such date.  Any resulting fractional Dividend Equivalent
Unit shall be rounded to the nearest whole number.  Such additional Dividend Equivalent Units
shall be subject to the same terms and conditions and shall be settled or
forfeited in the same manner and at the same time as the Restricted Stock Units
originally subject to the Award with respect to which they have been credited.

3.4                             Compliance with Law.  The grant of Units hereunder and the issuance
of the shares of Stock in settlement of the Units shall be subject to
compliance with all applicable requirements of federal, provincial, state or
foreign law.  No Units shall be granted
and no shares of Stock shall be issued in settlement of the Units granted
hereunder at any time when the grant and/or issuance would constitute a
violation of any applicable federal, provincial, state or foreign securities
laws or other law or regulations or the requirements of the Stock Exchange or
other stock exchange or market system upon which the Stock may then be
listed.  The inability of the Company to
obtain from any regulatory body having jurisdiction the authority, if any,
deemed by the Company’s legal counsel to be necessary to the lawful grant of
the Units and the issuance of any Shares in settlement of the Units granted
hereunder shall toll the Company’s obligation to grant the Units and/or issue
the shares of Stock until such disability shall have been removed, 

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and shall relieve the Company of any
liability in respect of any resultant delay in granting the Units and/or
issuing such shares of Stock as to which such requisite authority shall not
have been obtained.  As a condition to
the grant of the Units and the issuance of the shares of Stock in settlement of
the Units, the Company may require the Participant to satisfy any
qualifications that may be necessary or appropriate, to evidence compliance
with any applicable law or regulation and to make any representation or
warranty with respect thereto as may be requested by the Company.

3.5                             Compliance with Rule 16b-3.  The grant of Units subject to this Agreement
have been approved by the Board in compliance with Rule 16b-3(d) promulgated under the Securities Exchange Act of 1934.

4.                                       VESTING OF UNITS AND ISSUANCE OF SHARES.

4.1                             Normal Vesting.  Except as provided in this Section 4, the
Units shall vest and become Vested Units as provided in the Grant Notice (any Units
which are not Vested Units shall be referenced hereunder as “Unvested Units”).

4.2                             General Rule Regarding Forfeiture.  Subject to the exceptions in Sections 4.3,
4.4 and 4.5, in the event that Participant’s Service terminates for any reason
or no reason, with or without Cause, the Participant shall cease vesting in the
Units subject to this Award and shall immediately forfeit all rights to future
issuance of Units and all Unvested Units and the Participant shall not be
entitled to any payment therefor.  For
purposes of the foregoing, the Participant’s termination date shall be the
earlier of:  (a) the date on which the
Participant ceases to render actual Service to the Company, a Participating
Company or a Successor; (b) the date on which the Company, a Participating
Company or the Participant first provides notice of termination of Service; or
(c) the first date of any statutory notice period provided under local law,
notwithstanding any entitlement that the Participant might have to notice, pay
in lieu of notice, severance pay, or termination pay.

4.3                             Acceleration of Vesting in Event of Change of Control.  If Globalstar or stockholders holding, in the
aggregate, more than fifty percent (50%) of the combined voting power of
Globalstar’s then-outstanding securities entitled to vote generally in the
election of Directors should enter into one or more final and binding
agreements under which a Change of Control would occur before all Units have
been granted under Section 3.1 and have become Vested Units under
Section 4.1, then,

(a)                                  seven (7) Trading
Days before the effective date of the Change of Control, subject to Sections
3.4 and 5.3 all ungranted Units shall be granted, and,

(b)                                 subject
to Section 5.1, all Units shall immediately become fully Vested Units; provided, however, that in the event the Awards are
assumed or substituted by a Successor this Section 4.3 is expressly also made
subject to special rules (i) and (ii) set forth below.  In the event that the Successor does not
assume or substitute the Awards, full acceleration of the grant and Vesting of
the Awards under this Section 4.2.4 shall occur notwithstanding the 

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employment of the Participant by the Company or the Successor following
the effective date of the Change of Control.

(i)                                     If the transaction
or event that results in the Change of Control includes a requirement that the
Participant remain employed by the Company or its successor for a period of up
to, but not more than, twelve (12) months after the effective date of the
Change of Control, then if Participant’s continued employment for the entire
employment period would be for not less than Fair Value of Services,
Participant agrees to accept the offered employment, and the vesting of all Unvested
Units on the effective date of the Change of Control will occur on the earlier
of twelve (12) months following the effective date of the Change of Control or
the termination of Participant’s employment by or at the request of the Company
or its successor.

(ii)                                  If the transaction or
event that results in the Change of Control includes a requirement that
Participant remain employed by the Company or its successor for a period of in
excess of twelve (12) months after the effective date of the Change of Control,
then if Participant’s continued employment would be for not less than Fair
Value of Services, Participant will accept the offered employment; provided, however, that if the required period is in
excess of 24 months, Participant need only offer to accept for 24 months.  In such event, the vesting of all Unvested
Units as of the effective date of the Change of Control shall occur to the
extent of one-half of the Units not then vested on the first anniversary of the
effective date of the Change of Control, and vesting of one-half of such Units
shall occur on the second anniversary of the effective date of the Change of
Control; provided, however, that under no
circumstances shall final vesting occur later than the earliest of:  (i) the date of termination of Participant by
or at the request of the Company or a Successor, (ii) 24 months after the
effective date of the Change of Control, or (iii) the final Annual Vesting
Date.

4.4                             Acceleration for Second Generation Constellation.  Subject to Sections 3.4, 4.1, 4.5, 5.1
and 5.3, granting and vesting of all ungranted or Unvested Units shall occur on
the date that the Committee, acting in the exercise of its discretion, which
shall not be withheld or delayed unreasonably, determines that not less than
twenty-four (24) satellites of Globalstar’s “second generation constellation”
have entered commercial service and are performing satisfactorily in carrying
two-way voice and data, revenue capable, traffic.

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4.5                             Exceptions. 
Subject only to limitations under Sections 3.4, 5.1 and 5.3,

(a)                                  Partial Vesting with Respect to Next Succeeding Annual
Vesting Date.  If the Company
terminates Participant for any reason other than for Cause before any Annual
Vesting Date, the Participant’s Unvested Units that would have vested on the
applicable Annual Vesting Date (but not on any subsequent Annual Vesting Dates)
shall vest pro rata on the date of Participant’s termination.  The pro rata share shall be determined by
multiplying the Award by a fraction with:

(i)                                     a numerator equal
to the greater of (a) 12 or (b) 12 minus the number of whole months remaining
until the applicable Annual Vesting Date, and

(ii)                                  a denominator of 12.

This
exception shall not apply if the termination of employment is a voluntary
termination or resignation by Participant.

(b)                                 Termination within Six Months prior to a Change of
Control.  In addition to
Participant’s rights under Section 4.5(a), if the Company terminates
Participant’s employment for any reason other than for Cause, and the effective
date of a Change of Control occurs within six (6) months after the date of
termination, then, notwithstanding Participant’s termination and in addition to
Participant’s rights under Section 4.5(a), all of the Unvested Units relating
to the current Award shall be reinstated and vesting of such reinstated Units
shall occur on the date that the Change of Control becomes effective.  On the same date, ungranted future Awards
provided in the Grant Notice shall be reinstated, applicable Units shall be
granted, and vesting of these Units shall occur, to the full extent that would
have occurred in the event Participant had been employed at the time of the
effective date of a Change of Control. 
This exception shall not apply if the termination of employment was a
voluntary termination or resignation by Participant.

(c)                                  Termination Because of Death or Disability.  If a Participant’s employment terminates
prior to the final Annual Vesting Date because of Participant’s death or
Disability, Participant (or if applicable Participant’s duly qualified
estate, personal representative, or designated beneficiary), shall be entitled
to receive, as Vested Units, all Units that would have vested on the next
Annual Vesting Date after the occurrence of death or Disability and
notwithstanding the actual date of the applicable Annual Vesting Date,
distribution shall be made on the date that is three (3) months after the date
of death or Disability.  Rights under 

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this Section 4.5(c) are in lieu of rights that Participant would have
enjoyed under Sections 4.5(a) and 4.5(b).

5.                                       SETTLEMENT OF THE AWARD.

5.1                             Issuance of Shares of Stock.  Subject
to the provisions of Section 5.3 below, the Company shall issue to the
Participant, on the Settlement Date with respect to each Unit to be settled on
such date, one (1) share of Stock; provided however, that if such Settlement
Date is a date on which a sale by the Participant of the Stock to be issued in
settlement of such Unit would violate the Insider Trading Policy of the
Company, then the Settlement Date with respect to such Unit shall be the
earlier of (a) the next day on which such sale would not violate the
Insider Trading Policy or (b) the date that is two and one-half (21⁄2)
months from the end of the calendar year in which such Unit became a Vested Unit.  For purposes of this Agreement, “Insider Trading Policy” means the written policy of the Company pertaining to the
sale, transfer or other disposition of the Company’s equity securities by
members of the Board, Officers or other employees who may possess material,
non-public information regarding the Company, as in effect at the time of a
disposition of any shares of Stock. 
Shares of Stock issued in settlement of Units shall not be subject to
any restriction on transfer other than any such restriction as may be required
pursuant to Section 5.3.

5.2                             Beneficial Ownership of Shares; Certificate Registration. 
The Participant hereby authorizes the Company, in its sole discretion,
to deposit for the benefit of the Participant with any broker with which the
Participant has an account relationship of which the Company has notice any or
all shares of stock acquired by the Participant pursuant to the settlement of
the Award.  Except as provided by the
preceding sentence, a certificate for the shares as to which the Award is
settled shall be registered in the name of the Participant, or, if applicable,
in the names of the heirs of the Participant.

5.3                             Restrictions on Grant of the Award and Issuance of
Shares.  The grant of the Award and issuance of shares
of Stock upon settlement of the Award shall be subject to compliance with all
applicable requirements of federal, provincial, state or foreign law with
respect to such securities.  No shares of
Stock may be issued hereunder if the issuance of such shares would constitute a
violation of any applicable federal, provincial, state or foreign securities
laws or other law or regulations or the requirements of the stock exchange or
any other stock exchange or market system upon which the Stock may then be
listed.  The inability of the Company to
obtain from any regulatory body having jurisdiction the authority, if any,
deemed by the Company’s legal counsel to be necessary to the lawful issuance of
any shares subject to the Award shall relieve the Company of any liability in
respect of the failure to issue such shares as to which such requisite
authority shall not have been obtained. 
As a condition to the settlement of the Award, the Company may require
the Participant to satisfy any qualifications that may be necessary or
appropriate, to evidence compliance with any applicable law or regulation and
to make any representation or warranty with respect thereto as may be requested
by the Company.

5.4                             Fractional Shares.  The Company shall not be required to issue
fractional shares upon the settlement of the Award.

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6.                                       TAX MATTERS.

6.1                             Tax and Social Insurance Contributions in General.  At the
time the Grant Notice is executed, or at any time thereafter as requested by
the Company or a Participating Company, the Participant hereby authorizes
withholding from payroll and any other amounts payable to the Participant by
the Company or a Participating Company, and otherwise agrees to make adequate
provision for, any sums required to satisfy the federal, provincial, local and
foreign tax and social insurance contributions withholding obligations of the
Company or the Participating Company, if any, which arise in connection with
the Award, including, without limitation, obligations arising upon (a) the
grant of the Units to the Participant or (b) the issuance of shares of Stock to
the Participant in settlement of the Units. 
The Company and the Participating Company shall have no obligation to
deliver the shares of Stock until the tax and social insurance contributions
withholding obligations of the Company or the Participating Company have been
satisfied by the Participant.

6.2                             Withholding in Shares.  Subject to approval by the Company and as
permitted under local law, in its discretion, the Participant may satisfy all
or any portion of any applicable tax and social insurance contributions
withholding obligations by requesting the Company to withhold a number of whole
shares of Stock otherwise deliverable to the Participant in settlement of the
Vested Units having a fair market value, as determined by the Company as of the
date on which the tax and social insurance contributions withholding
obligations arise, not in excess of the amount of such tax and social insurance
contributions withholding obligations determined by the applicable minimum
statutory withholding rates or, in the absence of any minimum statutory
withholding rates, by the Company in its sole discretion.  Any adverse consequences to the Participant
resulting from the procedure permitted under this Section, including, without limitation,
tax consequences, shall be the sole responsibility of the Participant.

7.                                       ADJUSTMENTS FOR CHANGES IN CAPITAL STRUCTURE.

Subject to any
required action by the stockholders of the Company, in the event of any change
in the Stock effected without receipt of consideration by the Company, whether
through merger, consolidation, reorganization, reincorporation,
recapitalization, reclassification, stock dividend, stock split, reverse stock
split, split-up, split-off, spin-off, combination of shares, exchange of
shares, or similar change in the capital structure of the Company, or in the
event of payment of a dividend or distribution to the stockholders of the
Company in a form other than Stock (excepting normal cash dividends) that has a
material effect on the Fair Market Value of shares of Stock, appropriate and
proportionate adjustments shall be made in the number of Units subject to the
Award and/or the number and kind of shares to be issued in settlement of the
Award, in order to prevent dilution or enlargement of the Participant’s rights
under the Award.  For purposes of the
foregoing, conversion of any convertible securities of the Company shall not be
treated as “effected without receipt of consideration by the Company.”  Any fractional share resulting from an
adjustment pursuant to this Section shall be rounded down to the nearest whole
number.  The Committee in its sole
discretion, may also make such adjustments in the terms of any Award to
reflect, or related to, such changes in capital structure of the Company or
distributions as it deems appropriate.  Such
adjustments shall be determined by the Committee, and its determination shall
be final, binding and conclusive.

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8.                                       RIGHTS AS A STOCKHOLDER, DIRECTOR, EMPLOYEE OR
CONSULTANT.

The Participant shall
have no rights as a stockholder with respect to any shares which may be issued
in settlement of this Award until the date of the issuance of a certificate for
such shares (as evidenced by the appropriate entry on the books of the Company
or of a duly authorized transfer agent of the Company).  No adjustment shall be made for dividends,
distributions or other rights for which the record date is prior to the date
such certificate is issued, except as provided in Section 3.3 and Section 7.  If the Participant is an Employee, the
Participant understands and acknowledges that, except as otherwise provided in
a separate, written employment agreement between a Participating Company and
the Participant, the Participant’s employment is for no specified term.  Nothing in this Agreement shall confer upon
the Participant any right to continue in the Service of a Participating Company
or interfere in any way with any right of the Participating Company Group to
terminate the Participant’s Service at any time.

9.                                       LEGENDS.

The Company may at
any time place legends referencing any applicable federal, provincial, state or
foreign securities law restrictions on all certificates representing the shares
of Stock issued pursuant to this Agreement. 
The Participant shall, at the request of the Company, promptly present
to the Company any and all certificates representing shares acquired pursuant
to this Award in the possession of the Participant in order to carry out the
provisions of this Section.

10.                                 MISCELLANEOUS PROVISIONS.

10.1                       Termination or Amendment.  The Committee may terminate or amend the Plan,
or this Agreement at any time; provided,
however, that no such termination or amendment may adversely affect
the Participant’s rights under this Agreement without the consent of the
Participant unless such termination or amendment is necessary to comply with
applicable law or government regulation. 
No amendment or addition to this Agreement shall be effective unless in
writing.

10.2                       Non-Transferability of the Award.  Prior to the issuance of shares of Stock on
the applicable Settlement Date, neither this Award nor any Units subject to this
Award shall be subject in any manner to anticipation, alienation, sale,
exchange, transfer, assignment, pledge, encumbrance, or garnishment by creditors
of the Participant or the Participant’s beneficiary, except transfer by will or
by the laws of descent and distribution. 
All rights with respect to the Award shall be exercisable during the
Participant’s lifetime only by the Participant or the Participant’s guardian or
legal representative.

10.3                       Further Instruments.  The
parties hereto agree to execute such further instruments and to take such
further action as may reasonably be necessary to carry out the intent of this
Agreement.

10.4                       Binding Effect.  This Agreement shall inure to the benefit of
the successors and assigns of the Company and, subject to the restrictions on
transfer set forth herein, be binding upon the Participant and the Participant’s
heirs, executors, administrators, successors and assigns.

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10.5                       Delivery of Documents and Notices.  Any document relating to participation in the
Plan or any notice required or permitted hereunder shall be given in writing
and shall be deemed effectively given (except to the extent that this Agreement
provides for effectiveness only upon actual receipt of such notice) upon
personal delivery, electronic delivery at the e-mail address, if any, provided
for the Participant by a Participating Company, or upon deposit in the U.S.
Post Office or foreign postal service, by registered or certified mail, or with
a nationally recognized overnight courier service, with postage and fees
prepaid, addressed to the other party at the address shown below that party’s
signature to the Grant Notice or at such other address as such party may
designate in writing from time to time to the other party.

(a)                                  Description of Electronic Delivery.  The Plan documents, which may
include but do not necessarily include:  the
Plan, the Grant Notice, this Agreement, the Plan Prospectus and any reports of
the Company provided generally to the Company’s stockholders, may be delivered
to the Participant electronically.  In
addition, the Participant may deliver electronically the Grant Notice to the
Company or to such third party involved in administering the Plan as the
Company may designate from time to time. 
Such means of electronic delivery may include but do not necessarily
include the delivery of a link to a Company intranet or the internet site of a
third party involved in administering the Plan, the delivery of the document
via e-mail or such other means of electronic delivery specified by the
Company.

(b)                                 Consent to Electronic Delivery.  The Participant acknowledges that
the Participant has read Section 10.5(a) of this Agreement and consents to
the electronic delivery of the Plan documents and the Grant Notice described in
Section 10.5(a).  The Participant
acknowledges that he or she may receive from the Company a paper copy of any
documents delivered electronically at no cost to the Participant by contacting
the Company by telephone or in writing. 
The Participant further acknowledges that the Participant will be
provided with a paper copy of any documents if the attempted electronic
delivery of such documents fails. 
Similarly, the Participant understands
that the Participant must provide the Company or any designated third party
administrator with a paper copy of any documents if the attempted electronic
delivery of such documents fails.  The
Participant may revoke his or her consent to the electronic delivery of
documents described in Section 10.5(a) or may change the electronic mail
address to which such documents are to be delivered (if Participant has
provided an electronic mail address) at any time by notifying the Company of such
revoked consent or revised e-mail address by telephone, postal service or
electronic mail.  Finally, the
Participant understands that he or she is not required to consent to electronic
delivery of documents described in Section 10.5(a).

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10.6                       Integrated Agreement.  The Grant Notice, this Agreement and the Plan
together with any employment, service or other agreement between the
Participant and a Participating Company referring to the Award shall constitute
the entire understanding and agreement of the Participant and the Globalstar Group
with respect to the subject matter contained herein or therein and supersedes
any prior agreements, understandings, restrictions, representations, or
warranties among the Participant and the Globalstar Group with respect to such
subject matter other than those as set forth or provided for herein or
therein.  To the extent contemplated
herein or therein, the provisions of the Grant Notice and the Agreement shall
survive any settlement of the Award and shall remain in full force and effect.

10.7                       Beneficiary Designation.  Subject to local laws and procedures, each
Participant may file with the Company a written designation of a beneficiary
who is to receive any benefit under the Plan and this Agreement to which the
Participant is entitled in the event of such Participant’s death before he or
she receives any or all of such benefit. 
Each designation will revoke all prior designations by the same
Participant, shall be in a form prescribed by the Company, and will be
effective only when filed by the Participant in writing with the Company during
the Participant’s lifetime.  If a married
Participant designates a beneficiary other than the Participant’s spouse, the
effectiveness of such designation may be subject to the consent of the
Participant’s spouse.  If a Participant
dies without an effective designation of a beneficiary who is living at the
time of the Participant’s death, the Company will pay any remaining unpaid
benefits to the Participant’s legal representative.

10.8                       Applicable Law.  This Agreement shall be governed by the laws
of the State of California as such laws are applied to agreements between
California residents entered into and to be performed entirely within the State
of California.

10.9                       Counterparts.  The Grant Notice and this Agreement may be
executed in counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument.

10.10                 Discretionary
Nature of the Plan; No Vested Rights.  The
Participant acknowledges and agrees that the Plan is discretionary in nature
and limited in duration, and may be amended, cancelled, or terminated by the
Company, in its sole discretion, at any time. 
The grant of Units under the Plan is a one-time benefit and does not
create any contractual or other right to receive an award or benefits in lieu
of an award in the future.  Except as
provided in the Grant Notice, future awards, if any, will be at the sole
discretion of the Company, including, but not limited to, the form and timing
of an award, the number of shares subject to an award, and the vesting
provisions.

10.11                 Termination Indemnities/Severance Pay.  The Participant’s participa-tion
in the Plan is voluntary.  The value of
the Units granted pursuant to this Agreement under the Plan is an extraordinary
item of compensation outside the scope of the Participant’s employment
contract, if any, and is not part of normal or expected compensation for
purposes of calculating any wages, severance, resignation, pay in lieu of
notice, redundancy, end of service payments, bonuses, long-service awards,
pension, or retirement benefits or similar payments.

10.12                 Termination
of Designated Executive Incentive Compensation Memorandum.  On the Effective Date, Participant’s rights
under the Globalstar Companies 

 12
 

Designated Executive Incentive Compensation
Memorandum effective as of November 1, 2004 shall terminate.

11.                                 CONSENT TO COLLECTION/

PROCESSING/TRANSFER OF PERSONAL DATA.

The Participant voluntarily
acknowledges and consents to the collection, use, disclosure, processing and
transfer of personal data as described in this Section.  The Participant is not obliged to consent to
such collection, use, processing and transfer of personal data; however,
failure to provide the consent may affect the Participant’s ability to
participate in the Plan.  The Company, the
Participating Companies and the Participant’s employer hold certain personal
information about the Participant, including the Participant’s name, home
address and telephone number, date of birth, social security number, social
insurance number, or other employee identification number, salary, nationality,
job title, any Units, Dividend Equivalent Units, Stock or directorships held in
the Company, details of all options or any other entitlement to Stock awarded,
canceled, purchased, vested, unvested or outstanding in the Participant’s favor
(“Data”), for the purpose of managing and administering the Plan.  The Company and/or the Participating
Companies will collect, use, disclose and transfer Data amongst themselves (i) with
the consent of the Participant, (ii) as required or permitted by
law, and/or (iii) for purposes relating to the implementation,
administration and management of the Participant’s participation in the Plan,
and the Company and/or any of the Participating Companies may each further
transfer Data to any third parties assisting the Company in the implementation,
administration and management of the Plan. 
These Data recipients may be located in the European Economic Area, or
elsewhere throughout the world, such as the United States.  The Participant hereby authorizes them to collect,
receive, possess, use, retain, disclose and transfer the Data, in electronic or
other form, for the purposes of implementing, administering and managing the
Participant’s participation in the Plan, including any requisite transfer of
such Data as may be required for the administration of the Plan and/or the subsequent
holding of shares on the Participant’s behalf to a broker or other third party
with whom the Participant may elect to deposit any shares acquired pursuant to
the Plan.  The Participant may, at any
time, make a request in writing to the Company to:  review the Data; request corrections to it;
or withdraw the Participant’s consent herein. 
The Company will consider such requests and provide its response to the
Participant in writing; however, withdrawing the Participant’s consent may
affect the Participant’s ability to participate in the Plan.

*          *          *          *          *

 13
 

 

	
  Agreed to as of August 10, 2007.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  PARTICIPANT:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Printed Name:

  
	
   

  	
   

  
	
   

  	
  Address:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GLOBALSTAR, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Printed Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
					

 

 14Exhibit 10.1

EXECUTION COPY

U.S. $500,000,000

AMENDED
AND RESTATED FIVE YEAR CREDIT AGREEMENT

Dated as of August 10, 2007

Among

SNAP-ON
INCORPORATED

as  Borrower

and

THE
INITIAL LENDERS NAMED HEREIN

as  Initial  Lenders

and

J.P.
MORGAN SECURITIES INC.

and

CITIGROUP
GLOBAL MARKETS INC.

as  Joint  Lead  Arrangers
and  Joint  Bookrunners

and

JPMORGAN
CHASE BANK, N.A.

as  Administrative  Agent

TABLE OF
CONTENTS

	
  ARTICLE I

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 1.01.
  Certain Defined Terms

  	
   

  	
  1

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 1.02.
  Computation of Time Periods

  	
   

  	
  12

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 1.03.
  Accounting Terms

  	
   

  	
  12

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 1.04.
  Additional Alternative Currencies

  	
   

  	
  12

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE II

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 2.01.
  The Revolving Credit Advances

  	
   

  	
  12

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 2.02.
  Making the Revolving Credit Advances

  	
   

  	
  13

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 2.03.
  The Competitive Bid Advances

  	
   

  	
  14

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 2.04.
  Fees

  	
   

  	
  17

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 2.05.
  Optional Termination or Reduction of the Commitments

  	
   

  	
  17

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 2.06.
  Repayment of Revolving Credit Advances

  	
   

  	
  18

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 2.07.
  Interest on Revolving Credit Advances

  	
   

  	
  18

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 2.08.
  Interest Rate Determination

  	
   

  	
  18

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 2.09.
  Optional Conversion of Revolving Credit Advances

  	
   

  	
  19

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 2.10.
  Prepayments of Revolving Credit Advances

  	
   

  	
  19

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 2.11.
  Increased Costs

  	
   

  	
  20

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 2.12.
  Illegality

  	
   

  	
  21

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 2.13.
  Payments and Computations

  	
   

  	
  21

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 2.14.
  Taxes

  	
   

  	
  22

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 2.15.
  Sharing of Payments, Etc.

  	
   

  	
  23

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 2.16.
  Evidence of Debt

  	
   

  	
  24

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 2.17.
  Use of Proceeds

  	
   

  	
  24

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 2.18.
  Increase in the Aggregate Commitments

  	
   

  	
  24

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 2.19. Extension
  of Termination Date

  	
   

  	
  26

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE III

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 3.01.
  Conditions Precedent to Effectiveness of Sections 2.01 and 2.03

  	
   

  	
  27

  	
   

  

 

 i
 

 

	
  SECTION 3.02. Conditions
  Precedent to Each Revolving Credit Borrowing and Commitment Increase

  	
   

  	
  28

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 3.03.
  Conditions Precedent to Each Competitive Bid Borrowing

  	
   

  	
  29

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 3.04.
  Determinations Under Section 3.01

  	
   

  	
  30

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE IV

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 4.01.
  Representations and Warranties of the Borrower

  	
   

  	
  30

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE V

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 5.01.
  Affirmative Covenants

  	
   

  	
  31

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 5.02.
  Negative Covenants

  	
   

  	
  33

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 5.03.
  Financial Covenant

  	
   

  	
  34

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE VI

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 6.01.
  Events of Default

  	
   

  	
  35

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE VII

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 7.01.
  Authorization and Action

  	
   

  	
  36

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 7.02.
  Agent’s Reliance, Etc.

  	
   

  	
  37

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 7.03.
  Citibank and Affiliates

  	
   

  	
  37

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 7.04.
  Lender Credit Decision

  	
   

  	
  37

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 7.05.
  Indemnification

  	
   

  	
  37

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 7.06.
  Successor Agent

  	
   

  	
  37

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 7.07.
  Other Agents.

  	
   

  	
  38

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE VIII

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 8.01.
  Amendments, Etc.

  	
   

  	
  38

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 8.02.
  Notices, Etc.

  	
   

  	
  38

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 8.03. No
  Waiver; Remedies

  	
   

  	
  39

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 8.04.
  Costs and Expenses

  	
   

  	
  39

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 8.05.
  Right of Set-off

  	
   

  	
  40

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 8.06.
  Binding Effect

  	
   

  	
  40

  	
   

  

 

 ii
 

 

	
  SECTION 8.07. Assignments
  and Participations

  	
   

  	
  40

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 8.08.
  Confidentiality

  	
   

  	
  43

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 8.09.
  Governing Law

  	
   

  	
  43

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 8.10.
  Execution in Counterparts

  	
   

  	
  43

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 8.11.
  Judgment

  	
   

  	
  43

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 8.12.
  Jurisdiction, Etc.

  	
   

  	
  43

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 8.13.
  Substitution of Currency

  	
   

  	
  44

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 8.14. Patriot
  Act Notice

  	
   

  	
  44

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 8.15. Waiver of
  Jury Trial

  	
   

  	
  44

  	
   

  

 

Schedules

Schedule I—List of
Applicable Lending Offices

Schedule 1.01—Mandatory
Cost

Schedule
3.01(b)—Disclosed Litigation

Schedule 5.02(a)—Existing
Liens

Exhibits

Exhibit A-1            —            Form
of Revolving Credit Note

Exhibit A-2            —            Form
of Competitive Bid Note

Exhibit B-1             —            Form
of Notice of Revolving Credit Borrowing

Exhibit B-2             —            Form
of Notice of Competitive Bid Borrowing

Exhibit C                —            Form of Assignment and Acceptance

Exhibit D-1             —            Form
of Opinion of Counsel for the Borrower

Exhibit D-2             —            Form
of Opinion of Counsel for the Borrower

 iii

AMENDED AND RESTATED FIVE YEAR CREDIT AGREEMENT

Dated as of August 10, 2007

SNAP-ON
INCORPORATED, a Delaware corporation (the “Borrower”), the banks,
financial institutions and other institutional lenders (the “Initial Lenders”)
listed on the signature pages hereof, J.P. MORGAN SECURITIES INC. (“JPMorgan”)
and CITIGROUP GLOBAL MARKETS INC., as joint lead arrangers (each, a “Lead
Arranger” and collectively, the “Lead Arrangers”) and joint
bookrunners, and JPMORGAN CHASE BANK, N.A. (“JPMCB”), as administrative
agent (the “Agent”) for the Lenders (as hereinafter defined), agree as
follows:

PRELIMINARY
STATEMENT.   The Borrower, the lenders party thereto, Citibank, N.A. as
administrative agent, Citigroup Global Markets Inc. as sole lead arranger and
book manager, are parties to a Credit Agreement dated July 27, 2004 (the “Existing
Credit Agreement”). Subject to the satisfaction of the conditions set forth
in Section 3.01 hereof, the Borrower, the parties hereto and Citibank, N.A. as
administrative agent, desire to amend and restate the Existing Credit Agreement
as herein set forth.

ARTICLE I

DEFINITIONS AND ACCOUNTING TERMS

SECTION 1.01. Certain
Defined Terms.

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

“Advance” means a
Revolving Credit Advance or a Competitive Bid Advance.

“Affiliate” means,
as to any Person, any other Person that, directly or indirectly, controls, is
controlled by or is under common control with such Person or is a director or
officer of such Person. For purposes of this definition, the term “control”
(including the terms “controlling”, “controlled by” and “under common control
with”) of a Person means the possession, direct or indirect, of the power to
vote 5% or more of the Voting Stock of such Person or to direct or cause the
direction of the management and policies of such Person, whether through the
ownership of Voting Stock, by contract or otherwise.

“Agent’s Account”
means (a) in the case of Advances denominated in Dollars, the account of the
Agent maintained by JPMCB at JPMorgan Chase Bank, 10 South Dearborn, 7th floor,
Chicago, IL 60603, Account number: 9008 10099 62, Attention: Edna Guerra, (b)
in the case of Advances denominated in any Foreign Currency, the account of the
Agent designated in writing from time to time by the Agent to the Borrower and
the Lenders for such purpose and (c) in any such case, such other account of
the Agent as is designated in writing from time to time by the Agent to the
Borrower and the Lenders for such purpose.

“Applicable Lending
Office” means, with respect to each Lender, such Lender’s Domestic Lending
Office in the case of a Base Rate Advance and such Lender’s Eurocurrency
Lending Office in the case of a Eurocurrency Rate Advance and, in the case of a
Competitive Bid Advance, the office of such Lender notified by such Lender to
the Agent as its Applicable Lending Office with respect to such Competitive Bid
Advance.

“Applicable Margin”
means (a) for Base Rate Advances, 0% per annum and (b) for Eurocurrency Rate
Advances, as of any date, a percentage per annum determined by reference to the
Public Debt Rating in effect on such date as set forth below:

 

	
  Public Debt Rating

  S&P/Moody’s

  	
   

  	
  Applicable Margin for

  Eurocurrency Rate Advances

  	
   

  
	
  Level
  1

  AA- and Aa3 or above

  	
   

  	
   

  	
  0.110

  	
  %

  	
   

  
	
  Level
  2

  A+ and A1

  	
   

  	
   

  	
  0.130

  	
  %

  	
   

  
	
  Level
  3

  A and A2

  	
   

  	
   

  	
  0.150

  	
  %

  	
   

  
	
  Level
  4

  A- and A3

  	
   

  	
   

  	
  0.190

  	
  %

  	
   

  
	
  Level
  5

  BBB+ and Baa1

  	
   

  	
   

  	
  0.270

  	
  %

  	
   

  
	
  Level 6

  Lower than Level 5

  	
   

  	
   

  	
  0.350

  	
  %

  	
   

  

 

“Applicable Percentage”
means, as of any date, a percentage per annum determined by reference to the
Public Debt Rating in effect on such date as set forth below:

	
  Public Debt Rating

  S&P/Moody’s

  	
   

  	
  Applicable

  Percentage

  	
   

  
	
  Level
  1

  AA- and Aa3 or above

  	
   

  	
   

  	
  0.040

  	
  %

  	
   

  
	
  Level
  2

  A+ and A1

  	
   

  	
   

  	
  0.045

  	
  %

  	
   

  
	
  Level
  3

  A and A2

  	
   

  	
   

  	
  0.050

  	
  %

  	
   

  
	
  Level
  4

  A- and A3

  	
   

  	
   

  	
  0.060

  	
  %

  	
   

  
	
  Level
  5

  BBB+ and Baa1

  	
   

  	
   

  	
  0.080

  	
  %

  	
   

  
	
  Level 6

  Lower than Level 5

  	
   

  	
   

  	
  0.100

  	
  %

  	
   

  

 

“Applicable
Utilization Fee” means, as of any date that the aggregate Advances exceed
50% of the aggregate Commitments, a percentage per annum determined by
reference to the Public Debt Rating in effect on such date as set forth below:

	
  Public Debt Rating

  S&P/Moody’s

  	
   

  	
  Applicable

  Utilization Fee

  	
   

  
	
  Level 1

  AA- and Aa3 or above

  	
   

  	
   

  	
  0.050

  	
  %

  	
   

  
	
  Level 2

  A+ and A1

  	
   

  	
   

  	
  0.050

  	
  %

  	
   

  
	
  Level 3

  A and A2

  	
   

  	
   

  	
  0.050

  	
  %

  	
   

  
	
  Level 4

  A- and A3

  	
   

  	
   

  	
  0.050

  	
  %

  	
   

  
	
  Level 5

  BBB+ and Baa1

  	
   

  	
   

  	
  0.050

  	
  %

  	
   

  
	
  Level 6

  Lower than Level 5

  	
   

  	
   

  	
  0.050

  	
  %

  	
   

  

 

 2
 

“Assignment and Acceptance”
means an assignment and acceptance entered into by a Lender and an Eligible
Assignee, and accepted by the Agent, in substantially the form of Exhibit C
hereto.

“Assuming Lender”
has the meaning specified in Section 2.18(d).

“Assumption Agreement”
has the meaning specified in Section 2.18(d).

“Base Rate” means,
for any day, a rate per annum (rounded upwards, if necessary, to the next
highest 1/16th of 1%) equal to the greater of:

(a)           the Prime Rate in effect on such day;

(b)           the secondary market rate for
three-month certificates of deposit (adjusted for statutory reserve
requirements and assessments) in effect on such day plus 1%; and

(c)           the Federal Funds Effective Rate in
effect on such day plus 1⁄2 of 1%.

Any change in the Base Rate due to a change in the
Prime Rate, the secondary market rate for three-month certificates of deposit,
or the Federal Funds Effective Rate shall be effective from and including the
effective date of such change in the Prime Rate, such secondary market rate, or
the Federal Funds Effective Rate, respectively.

“Base Rate Advance”
means a Revolving Credit Advance denominated in Dollars that bears interest as
provided in Section 2.07(a)(i).

“Borrowing” means
a Revolving Credit Borrowing or a Competitive Bid Borrowing.

“Business Day”
means a day of the year on which banks are not required or authorized by law to
close in New York City and, if the applicable Business Day relates to any
Eurocurrency Rate Advances or LIBO Rate Advances, on which dealings are carried
on in the London interbank market and banks are open for business in London and
in the country of issue of the currency of such Eurocurrency Rate Advance or
LIBO Rate Advance (or, in the case of an Advance denominated in Euro, on which
the Trans-European Automated Real-Time Gross Settlement Express Transfer
(TARGET) System is open) and, if the applicable Business Day relates to any
Local Rate Advances on which banks are open for business in the country of
issue of the currency of such Local Rate Advance.

“Commitment” means
as to any Lender (a) the Dollar amount set forth opposite such Lender’s name on
Schedule I hereto, (b) if such Lender has become a Lender hereunder pursuant to
an Assumption Agreement, the Dollar amount set forth in such Assumption
Agreement or (c) if such Lender has entered into any Assignment and Acceptance,
the Dollar amount set forth for such Lender in the Register maintained by the
Agent pursuant to Section 8.07(d), as such amount may be reduced pursuant to
Section 2.05 or increased pursuant to Section 2.18.

“Commitment Date”
has the meaning specified in Section 2.18(b).

“Commitment Extension”
means an extension of the Termination Date pursuant to Section 2.19.

“Commitment Increase”
has the meaning specified in Section 2.18(a).

“Committed Currencies”
means lawful currency of the United Kingdom of Great Britain and Northern
Ireland, lawful currency of The Swiss Federation, lawful currency of Canada,
lawful currency of Australia, lawful currency of Japan, and the lawful currency
of the European Economic and Monetary Union.

 3
 

“Competitive Bid
Advance” means an advance by a Lender to the Borrower as part of a
Competitive Bid Borrowing resulting from the competitive bidding procedure
described in Section 2.03 and refers to a Fixed Rate Advance, a LIBO Rate Advance
or a Local Rate Advance.

“Competitive Bid
Borrowing” means a borrowing consisting of simultaneous Competitive Bid
Advances from each of the Lenders whose offer to make one or more Competitive
Bid Advances as part of such borrowing has been accepted under the competitive
bidding procedure described in Section 2.03.

“Competitive Bid Note”
means a promissory note of the Borrower payable to the order of any Lender, in
substantially the form of Exhibit A-2 hereto, evidencing the indebtedness of
the Borrower to such Lender resulting from a Competitive Bid Advance made by
such Lender.

“Competitive Bid
Reduction” has the meaning specified in Section 2.01.

“Confidential
Information” means information that the Borrower furnishes (or is furnished
on behalf of the Borrower) to the Agent or any Lender, but does not include any
such information that is or becomes generally available to the public or that
is or becomes available to the Agent or such Lender from a source other than
the Borrower (or a Person furnishing information on behalf of the Borrower)
that is not, to the knowledge of the Agent or such Lender, acting in violation
of a confidentiality agreement with the Borrower.

“Consenting Lender”
has the meaning specified in Section 2.19(b).

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

“Convert”, “Conversion”
and “Converted” each refers to a conversion of Revolving Credit Advances
of one Type into Revolving Credit Advances of the other Type pursuant to
Section 2.08 or 2.09.

“Debt” of any
Person means, without duplication, (a) all indebtedness of such Person for
borrowed money, (b) all obligations of such Person for the deferred purchase
price of property or services (other than (i) trade and similar accounts
payables that (x) are not overdue by more than 120 days incurred in the
ordinary course of such Person’s business or (y) are being contested in good
faith by appropriate proceedings and as to which appropriate reserves are being
maintained, (ii) accrued expenses arising in the ordinary course of business,
employee compensation and pension obligations and other obligations arising
from employee benefit agreements and programs, (iii) earn-outs and holdbacks
and (iv) customer advances), (c) all obligations of such Person evidenced by notes,
bonds, debentures or other similar instruments, (d) all obligations of such
Person created or arising under any conditional sale or other title retention
agreement with respect to property acquired by such Person (even though the
rights and remedies of the seller or lender under such agreement in the event
of default are limited to repossession or sale of such property), (e) all
obligations of such Person as lessee under leases that have been or should be,
in accordance with GAAP, recorded as capital leases, (f) all obligations,
contingent or otherwise, of such Person in respect of acceptances, letters of
credit or similar extensions of credit, (g) all net obligations of such Person
in respect of Hedge Agreements, (h) all Debt of others referred to in clauses
(a) through (g) above or clause (i) below guaranteed directly or indirectly in
any manner by such Person, or in effect guaranteed directly or indirectly by
such Person through an agreement (1) to pay or purchase such Debt or to advance
or supply funds for the payment or purchase of such Debt, (2) to purchase, sell
or lease (as lessee or lessor) property, or to purchase or sell services,
primarily for the purpose of enabling the debtor to make payment of such Debt
or to assure the holder of such Debt against loss, (3) to supply funds to or in
any other manner invest in the debtor (including any agreement to pay for
property or services irrespective of whether such property is received or such
services are rendered) or (4) otherwise to assure a creditor against loss, provided
that, if the guaranty or other agreement provides for limited recourse to such
Person for such Debt, it shall be taken into account only to the extent of such
recourse, and (i) all Debt referred to in clauses (a) through (h) above secured
by (or for which the holder of such Debt has an existing right, contingent or
otherwise, to be secured by) any Lien on property (including, without
limitation, accounts 

 4
 

and contract rights) owned by such Person, even though
such Person has not assumed or become liable for the payment of such Debt, provided
that, if such Person has not assumed or become liable for the payment of such
Debt, it shall be taken into account only to the extent of the book value or
fair market value, whichever is greater, of the property subject to such Lien; provided,
further, however, that the term “Debt” shall not include
obligations incurred in connection with a Permitted Receivables Financing.

“Default” means
any Event of Default or any event that would constitute an Event of Default but
for the requirement that notice be given or time elapse or both.

“Disclosed Litigation”
has the meaning specified in Section 3.01(b).

“Dollars” and the “$”
sign each means lawful currency of the United States of America.

“Domestic Lending
Office” means, with respect to any Lender, the office of such Lender
specified as its “Domestic Lending Office” opposite its name on Schedule I
hereto or in the Assumption Agreement or the Assignment and Acceptance pursuant
to which it became a Lender, or such other office of such Lender as such Lender
may from time to time specify to the Borrower and the Agent.

“EBITDA” means,
for any period, net income (or net loss) plus the sum of (a) interest expense,
(b) taxes on or measured by income (including franchise taxes imposed in lieu
of income taxes), (c) depreciation expense, (d) amortization expense and (e)
other non-cash or extraordinary charges, in each case determined in accordance
with GAAP for such period. For the purposes of calculating EBITDA for any
period, if during such period the Borrower or any Subsidiary shall have made an
acquisition or a disposition, EBITDA for such period shall be calculated after
giving pro forma effect thereto as if such acquisition or disposition occurred
on the first day of such period.

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

“Eligible Assignee”
means (i) a Lender; (ii) an Affiliate of a Lender; and (iii) any other Person
approved by the Agent and, unless an Event of Default has occurred and is continuing
at the time any assignment is effected in accordance with Section 8.07, the
Borrower, such approval not to be unreasonably withheld or delayed; provided,
however, that neither the Borrower nor an Affiliate of the Borrower
shall qualify as an Eligible Assignee.

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

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

“Environmental Permit”
means any permit, approval, identification number, license or other authorization
required under any Environmental Law.

“EMU Legislation”
means the legislative measures of the European Council for the introduction of,
changeover to or operation of a single or unified European currency.

 5
 

“Equivalent” in
Dollars of any Foreign Currency on any date means the equivalent in Dollars of
such Foreign Currency determined by using the quoted spot rate at which the
Agent’s principal office in London offers to exchange Dollars for such Foreign
Currency in London prior to 4:00 P.M. (London time) (unless otherwise indicated
by the terms of this Agreement) on such date as is required pursuant to the
terms of this Agreement, and the “Equivalent” in any Foreign Currency of
Dollars means the equivalent in such Foreign Currency of Dollars determined by
using the quoted spot rate at which the Agent’s principal office in London
offers to exchange such Foreign Currency for Dollars in London prior to 4:00
P.M. (London time) (unless otherwise indicated by the terms of this Agreement)
on such date as is required pursuant to the terms of this Agreement.

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

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

“ERISA Event”
means (a) (i) the occurrence of a reportable event, within the meaning of
Section 4043 of ERISA, with respect to any Plan unless the 30-day notice
requirement with respect to such event has been waived by the PBGC, or (ii) the
requirements of subsection (1) of Section 4043(b) of ERISA (without regard to
subsection (2) of such Section) are met with a contributing sponsor, as defined
in Section 4001(a)(13) of ERISA, of a Plan, and an event described in paragraph
(9), (10), (11), (12) or (13) of Section 4043(c) of ERISA is reasonably
expected to occur with respect to such Plan within the following 30 days; (b)
the application for a minimum funding waiver with respect to a Plan; (c) the
provision by the administrator of any Plan of a notice of intent to terminate
such Plan pursuant to Section 4041(a)(2) of ERISA (including any such notice
with respect to a plan amendment referred to in Section 4041(e) of ERISA); (d)
the cessation of operations at a facility of the Borrower or any ERISA
Affiliate in the circumstances described in Section 4062(e) of ERISA; (e) the
withdrawal by the Borrower or any ERISA Affiliate from a Multiple Employer Plan
during a plan year for which it was a substantial employer, as defined in
Section 4001(a)(2) of ERISA; (f) the conditions for the imposition of a lien
under Section 302(f) of ERISA shall have been met with respect to any Plan; (g)
the adoption of an amendment to a Plan requiring the provision of security to
such Plan pursuant to Section 307 of ERISA; or (h) the institution by the PBGC
of proceedings to terminate a Plan pursuant to Section 4042 of ERISA, or the
occurrence of any event or condition described in Section 4042 of ERISA that
constitutes grounds for the termination of, or the appointment of a trustee to
administer, a Plan.

“Eurocurrency
Liabilities” has the meaning assigned to that term in Regulation D of the
Board of Governors of the Federal Reserve System, as in effect from time to
time.

“Eurocurrency Lending
Office” means, with respect to any Lender, the office of such Lender
specified as its “Eurocurrency Lending Office” opposite its name on Schedule I
hereto or in the Assumption Agreement or the Assignment and Acceptance pursuant
to which it became a Lender (or, if no such office is specified, its Domestic
Lending Office), or such other office of such Lender as such Lender may from
time to time specify to the Borrower and the Agent.

“Eurocurrency Rate”
means, for any Interest Period for each Eurocurrency Rate Advance comprising
part of the same Revolving Credit Borrowing, an interest rate per annum equal
to the rate per annum obtained by dividing (a) the rate per annum (rounded
upward to the nearest whole multiple of 1/100 of 1% per annum) appearing on
Reuters LIBOR01 Page (or any successor page) as the London interbank offered
rate for deposits in Dollars or the applicable Committed Currency at
approximately 11:00 A.M. (London time) two Business Days prior to the first day
of such Interest Period for a term comparable to such Interest Period or, if
for any reason such rate is not available, the average (rounded upward to the nearest
whole multiple of 1/100 of 1% per annum, if such average is not such a
multiple) of the rate per annum at which deposits in Dollars or the applicable
Committed Currency is offered by the principal office 

 6
 

of JPMCB in London, England to prime banks in the
London interbank market at 11:00 A.M. (London time) two Business Days before
the first day of such Interest Period in an amount substantially equal to JPMCB’s
Eurocurrency Rate Advance comprising part of such Revolving Credit Borrowing to
be outstanding during such Interest Period and for a period equal to such
Interest Period by (b) a percentage equal to 100% minus the Eurocurrency Rate
Reserve Percentage for such Interest Period. If the Reuters LIBOR01 Page (or
any successor page) is unavailable, the Eurocurrency Rate for any Interest
Period for each Eurocurrency Rate Advance comprising part of the same Revolving
Credit Borrowing shall be determined by the Agent on the basis of applicable
rates.

“Eurocurrency Rate
Advance” means a Revolving Credit Advance denominated in Dollars or a
Committed Currency that bears interest as provided in Section 2.07(a)(ii).

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

“Events of Default”
has the meaning specified in Section 6.01.

“Existing Credit
Agreement” has the meaning specified in the preliminary statement to this
Agreement.

“Extension Date”
has the meaning specified in Section 2.19(b).

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

“Fixed Rate Advances”
has the meaning specified in Section 2.03(a)(i), which Advances shall be
denominated in Dollars or in any Foreign Currency.

“Foreign Currency”
means any Committed Currency and any other lawful currency (other than Dollars)
that is freely transferable or convertible into Dollars.

“GAAP” has the
meaning specified in Section 1.03.

“Hazardous Materials”
means (a) petroleum and petroleum products, byproducts or breakdown products,
radioactive materials, asbestos-containing materials, polychlorinated biphenyls
and radon gas and (b) any other chemicals, materials or substances designated,
classified or regulated as hazardous or toxic or as a pollutant or contaminant
under any Environmental Law.

“Hedge Agreements”
means interest rate swap, cap or collar agreements, interest rate future or
option contracts, currency swap agreements, currency future or option contracts
and other similar agreements.

 7
 

“Increase Date”
has the meaning specified in Section 2.18(a).

“Increasing Lender”
has the meaning specified in Section 2.18(b).

“Information
Memorandum” means the information memorandum dated June 29, 2007 used by
the Agent in connection with the syndication of the Commitments.

“Interest Period”
means, for each Eurocurrency Rate Advance comprising part of the same Revolving
Credit Borrowing and each LIBO Rate Advance comprising part of the same
Competitive Bid Borrowing, the period commencing on the date of such
Eurocurrency Rate Advance or LIBO Rate Advance or the date of the Conversion of
any Base Rate Advance into such Eurocurrency Rate Advance and ending on the
last day of the period selected by the Borrower pursuant to the provisions below
and, thereafter, with respect to Eurocurrency Rate Advances, each subsequent
period commencing on the last day of the immediately preceding Interest Period
and ending on the last day of the period selected by the Borrower pursuant to
the provisions below. The duration of each such Interest Period shall be one,
two, three or six months, and subject to clause (c) of this definition, nine
months or such other period requested by the Borrower, as the Borrower may,
upon notice received by the Agent not later than 11:00 A.M. (New York City
time) on the third Business Day prior to the first day of such Interest Period,
select; provided, however, that:

(a)           the Borrower may not select any
Interest Period that ends after the final Termination Date;

(b)           Interest Periods commencing on the
same date for Eurocurrency Rate Advances comprising part of the same Revolving
Credit Borrowing or for LIBO Rate Advances comprising part of the same
Competitive Bid Borrowing shall be of the same duration;

(c)           in the case of any such Revolving
Credit Borrowing, the Borrower shall not be entitled to select an Interest
Period having a duration of other than one, two, three or six months unless, by
2:00 P.M. (New York City time) on the third Business Day prior to the first day
of such Interest Period, each Lender notifies the Agent that such Lender will
be providing funding for such Revolving Credit Borrowing with such Interest
Period (the failure of any Lender to so respond by such time being deemed for
all purposes of this Agreement as an objection by such Lender to the requested
duration of such Interest Period); provided that, if any or all of the
Lenders object to the requested duration of such Interest Period, the duration
of the Interest Period for such Revolving Credit Borrowing shall be one, two,
three or six months, as specified by the Borrower requesting such Revolving
Credit Borrowing in the applicable Notice of Revolving Credit Borrowing as the
desired alternative to such requested Interest Period;

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

(e)           whenever the first day of any
Interest Period occurs on a day of an initial calendar month for which there is
no numerically corresponding day in the calendar month that succeeds such
initial calendar month by the number of months equal to the number of months in
such Interest Period, such Interest Period shall end on the last Business Day
of such succeeding calendar month.

“Internal Revenue Code”
means the Internal Revenue Code of 1986, as amended from time to time, and the
regulations promulgated and rulings issued thereunder.

 8
 

“Lenders” means
the Initial Lenders, each Assuming Lender that shall become a party hereto
pursuant to Section 2.18 or 2.19 and each Person that shall become a party
hereto pursuant to Section 8.07.

“LIBO Rate” means,
for any Interest Period for all LIBO Rate Advances comprising part of the same
Competitive Bid Borrowing, an interest rate per annum equal to the rate per
annum obtained by dividing (a) the rate per annum (rounded upward to the
nearest whole multiple of 1/100 of 1% per annum) appearing on the Reuters
LIBOR01 Page (or any successor page) as the London interbank offered rate for
deposits in Dollars or the applicable Committed Currency at approximately 11:00
A.M. (London time) two Business Days prior to the first day of such Interest
Period for a term comparable to such Interest Period or, if for any reason such
rate is not available, the average (rounded upward to the nearest whole
multiple of 1/100 of 1% per annum, if such average is not such a multiple) of
the rate per annum at which deposits in Dollars or the applicable Foreign
Currency is offered by the principal office of JPMCB in London, England to
prime banks in the London interbank market at 11:00 A.M. (London time) two
Business Days before the first day of such Interest Period in an amount
substantially equal to the amount that would be JPMCB’s respective ratable
shares of such Borrowing if such Borrowing were to be a Revolving Credit
Borrowing to be outstanding during such Interest Period and for a period equal
to such Interest Period by (b) a percentage equal to 100% minus the
Eurocurrency Rate Reserve Percentage for such Interest Period. If the Reuters
LIBOR01 Page (or any successor page) is unavailable, the LIBO Rate for any
Interest Period for each LIBO Rate Advance comprising part of the same
Competitive Bid Borrowing shall be determined by the Agent on the basis of
applicable rates.

“LIBO Rate Advances”
means a Competitive Bid Advance denominated in Dollars or in any Foreign
Currency and bearing interest based on the LIBO Rate.

“Lien” means any
lien, security interest or other charge or encumbrance of any kind, or any
other type of preferential arrangement, including, without limitation, the lien
or retained security title of a conditional vendor (excluding operating leases)
and any easement, right of way or other encumbrance on title to real property.

“Local Rate Advance”
means a Competitive Bid Advance denominated in any Foreign Currency sourced
from the jurisdiction of issuance of such Foreign Currency and bearing interest
at a fixed rate.

“Mandatory Cost”
means, with respect to any period, the percentage rate per annum determined in
accordance with Schedule 1.01.

“Material Adverse
Change” means any material adverse change in the business, condition
(financial or otherwise), operations, performance or properties of the Borrower
or the Borrower and its Subsidiaries taken as a whole.

“Material Adverse
Effect” means a material adverse effect on (a) the business, condition
(financial or otherwise), operations, performance or properties of the Borrower
or the Borrower and its Subsidiaries taken as a whole, (b) the rights and
remedies of the Agent or any Lender under this Agreement or any Note or (c) the
ability of the Borrower to perform its obligations under this Agreement or any
Note.

“Material Subsidiary”
means any Subsidiary of the Borrower having, as of the end of the Borrower’s
most recently completed fiscal year, (a) assets with a value of not less than
5% of the total value of the assets of the Borrower and its Subsidiaries, taken
as a whole, or (b) gross revenue of not less than 5% of the total (gross) revenue
of the Borrower and its Subsidiaries, taken as a whole.

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

 9
 

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

“Non-Consenting Lender”
has the meaning specified in Section 2.19(b).

“Note” means a
Revolving Credit Note or a Competitive Bid Note.

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

“Notice of Competitive
Bid Borrowing” has the meaning specified in Section 2.03(a).

“Participating Member
State” means each state so described in any EMU Legislation.

“Payment Office”
means, for any Foreign Currency, such office of JPMCB as shall be from time to
time selected by the Agent and notified by the Agent to the Borrower and the
Lenders.

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

“Permitted Liens”
means such of the following as to which no enforcement, collection, execution,
levy or foreclosure proceeding shall have been commenced: (a) Liens for taxes,
assessments and governmental charges or levies to the extent not required to be
paid under Section 5.01(b) hereof; (b) Liens imposed by law, such as
materialmen’s, mechanics’, carriers’, workmen’s and repairmen’s Liens and other
similar Liens arising in the ordinary course of business securing obligations
that are either (i) not overdue for a period of more than 45 days or (ii) are
being contested in good faith and by proper proceedings and as to which
appropriate reserves are being maintained; (c) pledges or deposits to secure
obligations under workers’ compensation laws or similar legislation or to
secure public or statutory obligations; and (d) easements, rights of way and
other encumbrances on title to real property that do not render title to the
property encumbered thereby unmarketable or materially adversely affect the use
of such property for its present purposes.

“Permitted Receivables
Financing” means any financing pursuant to which the Borrower or any
Subsidiary or Subsidiaries of the Borrower may sell, convey or otherwise
transfer to a Receivables Subsidiary or any other Person, or grant a security
interest in, any accounts receivable, general intangibles, chattel paper or
other financial assets (and related rights and assets) of the Borrower or such
Subsidiary or Subsidiaries, provided that such financing shall be with
limited or no recourse to the Borrower and its Subsidiaries (other than the
Receivables Subsidiary) except to the extent customary (in the reasonable
judgment of the Borrower) for such transactions.

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

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

“Prime Rate” means
the rate of interest announced publicly by JPMCB in New York, New York, from
time to time, as JPMCB’s prime rate.

“Public Debt Rating”
means, as of any date, the rating that has been most recently announced by
either S&P or Moody’s, as the case may be, for any class of non-credit
enhanced long-term senior unsecured debt issued by the Borrower or, if any such
rating agency shall have issued more than one such rating, the lowest such
rating issued by such rating agency. For purposes of the foregoing, (a) if only
one 

 10
 

of S&P and Moody’s shall have in effect a Public
Debt Rating, the Applicable Margin, the Applicable Percentage and the
Applicable Utilization Fee shall be determined by reference to the available
rating; (b) if neither S&P nor Moody’s shall have in effect a Public Debt
Rating, the Applicable Margin, the Applicable Utilization Fee and the
Applicable Percentage will be set in accordance with Level 6 under the
definition of “Applicable Margin”, “Applicable Percentage”, or “Applicable
Utilization Fee” as the case may be; (c) if the ratings established by S&P
and Moody’s shall fall within different levels, the Applicable Margin, the
Applicable Percentage and the Applicable Utilization Fee shall be based upon
the higher rating unless the such ratings differ by two or more levels, in
which case the applicable level will be deemed to be one level below the higher
of such levels; (d) if any rating established by S&P or Moody’s shall be
changed, such change shall be effective as of the date on which such change is
first announced publicly by the rating agency making such change; and (e) if
S&P or Moody’s shall change the basis on which ratings are established,
each reference to the Public Debt Rating announced by S&P or Moody’s, as
the case may be, shall refer to the then equivalent rating by S&P or Moody’s,
as the case may be.

“Receivables
Subsidiary” means a bankruptcy remote, special purpose wholly owned
Subsidiary of the Borrower (or another wholly-owned Subsidiary of the Borrower)
formed in connection with a Permitted Receivables Financing.

“Register” has the
meaning specified in Section 8.07(d).

“Related Person”
means each of the following: (a) the Borrower, (b) any Subsidiary of the
Borrower or (c) any employee benefit plan of the Borrower or of any Subsidiary
of the Borrower or any Person organized, appointed or established by the
Borrower for or pursuant to the terms of any such plan.

“Required Lenders”
means at any time Lenders owed at least a majority in interest of the then
aggregate unpaid principal amount (based on the Equivalent in Dollars at such
time) of the Revolving Credit Advances owing to Lenders, or, if no such
principal amount is then outstanding, Lenders having at least a majority in
interest of the Commitments.

“Revolving Credit
Advance” means an advance by a Lender to the Borrower as part of a Revolving
Credit Borrowing and refers to a Base Rate Advance or a Eurocurrency Rate
Advance (each of which shall be a “Type” of Revolving Credit Advance).

“Revolving Credit
Borrowing” means a borrowing consisting of simultaneous Revolving Credit
Advances of the same Type made by each of the Lenders pursuant to Section 2.01.

“Revolving Credit Note”
means a promissory note of the Borrower payable to the order of any Lender,
delivered pursuant to a request made under Section 2.16 in substantially the
form of Exhibit A-1 hereto, evidencing the aggregate indebtedness of the
Borrower to such Lender resulting from the Revolving Credit Advances made by
such Lender.

“Single Employer Plan”
means a single employer plan, as defined in Section 4001(a)(15) of ERISA, that
(a) is maintained for employees of the Borrower or any ERISA Affiliate and no
Person other than the Borrower and the ERISA Affiliates or (b) was so
maintained and in respect of which the Borrower or any ERISA Affiliate could
have liability under Section 4069 of ERISA in the event such plan has been or
were to be terminated.

“Subsidiary” of
any Person means any corporation, partnership, joint venture, limited liability
company, trust or estate of which (or in which) more than 50% of (a) the issued
and outstanding capital stock having ordinary voting power to elect a majority
of the Board of Directors of such corporation (irrespective of whether at the
time capital stock of any other class or classes of such corporation shall or
might have voting power upon the occurrence of any contingency), (b) the
interest in the capital or profits of such limited liability company,
partnership or joint venture or (c) the beneficial interest in such trust or
estate is at the time directly or indirectly owned or controlled by such
Person, by such Person and one or

 11

more of its other Subsidiaries or by one or more of
such Person’s other Subsidiaries; it being understood that Snap-On Credit LLC,
which is 50% owned by the Borrower, shall not be deemed to be a “Subsidiary” of
the Borrower for purposes of this Agreement.

“Termination Date”
means the earlier of (a) August 10, 2012, subject to the extension thereof
pursuant to Section 2.19 and (b) the date of termination in whole of the
Commitments pursuant to Section 2.05 or 6.01; provided, however, that the
Termination Date of any Lender that is a Non-Consenting Lender to any requested
extension pursuant to Section 2.19 shall be the Termination Date in effect
immediately prior to the applicable Extension Date for all purposes of this
Agreement.

“Voting Stock”
means capital stock issued by a corporation, or equivalent interests in any
other Person, the holders of which are ordinarily, in the absence of
contingencies, entitled to vote for the election of directors (or persons
performing similar functions) of such Person, even if the right so to vote has
been suspended by the happening of such a contingency.

SECTION 1.02. Computation
of Time Periods. In this Agreement in the computation of periods of time
from a specified date to a later specified date, the word “from” means “from
and including” and the words “to” and “until” each mean “to but excluding”.

SECTION 1.03. Accounting
Terms. All accounting terms not specifically defined herein shall be
construed in accordance with generally accepted accounting principles
consistent with those applied in the preparation of the financial statements
referred to in Section 4.01(e) (“GAAP”).

SECTION 1.04. Additional
Alternative Currencies. (a) The Borrower may from time to time request that
Eurocurrency Rate Advances be made in a currency other than those specifically
listed in the definition of “Committed Currency;” provided that such requested
currency is a lawful currency (other than Dollars) that is readily available
and freely transferable and convertible into Dollars. In the case of any such
request with respect to the making of Eurocurrency Rate Advances, such request
shall be subject to the approval of the Agent and the Lenders.

Any such request
shall be made to the Agent not later than 11:00 A.M. (New York City time) 20
Business Days prior to the date of the desired Advance (or such other time or
date as may be agreed by the Agent in its sole discretion). In the case of any
such request pertaining to Eurocurrency Rate Advances, the Agent shall promptly
notify each Lender thereof. Each Lender (in the case of any such request
pertaining to Eurocurrency Rate Advances) shall notify the Agent, not later
than 11:00 A.M. (New York City time) 10 Business Days after receipt of such
request whether it consents, in its sole discretion, to the making of
Eurocurrency Rate Advances in such requested currency.

Any failure by a
Lender to respond to such request within the time period specified in the
preceding sentence shall be deemed to be a refusal by such Lender to permit
Eurocurrency Rate Advances to be made in such requested currency. If the Agent
and all the Lenders consent to making Eurocurrency Rate Advances in such
requested currency, the Agent shall so notify the Borrower and such currency
shall thereupon be deemed for all purposes to be a Committed Currency
hereunder. If the Agent shall fail to obtain consent to any request for an
additional currency under this Section 1.04, the Agent shall promptly so notify
the Borrower.

ARTICLE II

AMOUNTS AND TERMS OF THE ADVANCES

SECTION 2.01. The
Revolving Credit Advances. Each Lender severally agrees, on the terms and
conditions hereinafter set forth, to make Revolving Credit Advances to the
Borrower from time to time on any Business Day during the period from the
Effective Date until the Termination Date applicable to such Lender in an
aggregate amount (based in respect of any Revolving Credit Advances to be
denominated in a Committed Currency on the Equivalent in Dollars determined on
the date of delivery of the applicable Notice of Revolving Credit Borrowing)
not to exceed at any time outstanding such Lender’s Commitment, provided
that the aggregate amount 

 12
 

of the Commitments of the
Lenders shall be deemed used from time to time to the extent of the aggregate
amount (based in respect of any Competitive Bid Advance denominated in a
Foreign Currency on the Equivalent in Dollars at such time) of the Competitive
Bid Advances then outstanding and such deemed use of the aggregate amount of
the Commitments shall be allocated among the Lenders ratably according to their
respective Commitments (such deemed use of the aggregate amount of the
Commitments being a “Competitive Bid Reduction”). Each Revolving Credit
Borrowing shall be in an aggregate amount of $10,000,000 or an integral
multiple of $1,000,000 in excess thereof (or the Equivalent thereof in any
Committed Currency determined on the date of delivery of the applicable Notice
of Revolving Credit Borrowing) and shall consist of Revolving Credit Advances
of the same Type made on the same day by the Lenders ratably according to their
respective Commitments. Within the limits of each Lender’s Commitment, the
Borrower may borrow under this Section 2.01, prepay pursuant to Section 2.10
and reborrow under this Section 2.01.

SECTION 2.02. Making
the Revolving Credit Advances. (a) Each Revolving Credit Borrowing shall be
made on notice, given not later than (x) 11:00 A.M. (New York City time) on the
third Business Day prior to the date of the proposed Revolving Credit Borrowing
in the case of a Revolving Credit Borrowing consisting of Eurocurrency Rate
Advances denominated in Dollars, (y) 11:00 A.M. (London time) on the third
Business Day prior to the date of the proposed Revolving Credit Borrowing in
the case of a Revolving Credit Borrowing consisting of Eurocurrency Rate
Advances denominated in any Committed Currency, or (z) 11:00 A.M. (New York
City time) on the first Business Day prior to the date of the proposed
Revolving Credit Borrowing in the case of a Revolving Credit Borrowing
consisting of Base Rate Advances, by the Borrower to the Agent, which shall
give to each Lender prompt notice thereof by telecopier. Each such notice of a
Revolving Credit Borrowing (a “Notice of Revolving Credit Borrowing”)
shall be by telephone, confirmed immediately in writing, or telecopier in
substantially the form of Exhibit B-1 hereto, specifying therein the requested
(i) date of such Revolving Credit Borrowing, (ii) Type of Advances comprising
such Revolving Credit Borrowing, (iii) aggregate amount of such Revolving
Credit Borrowing, and (iv) in the case of a Revolving Credit Borrowing
consisting of Eurocurrency Rate Advances, initial Interest Period and currency
for each such Revolving Credit Advance. Each Lender shall, before 11:00 A.M.
(New York City time) on the date of such Revolving Credit Borrowing, in the
case of a Revolving Credit Borrowing consisting of Advances denominated in
Dollars, and before 4:00 P.M. (London time) on the date of such Revolving
Credit Borrowing, in the case of a Revolving Credit Borrowing consisting of Eurocurrency
Rate Advances denominated in any Committed Currency, make available for the
account of its Applicable Lending Office to the Agent at the applicable Agent’s
Account in same day funds, such Lender’s ratable portion of such Revolving
Credit Borrowing. After the Agent’s receipt of such funds and upon fulfillment
of the applicable conditions set forth in Article III, the Agent will make such
funds available to the Borrower at the Agent’s address referred to in Section
8.02(a) or at the applicable Payment Office, as the case may be.

(b)           Anything in subsection (a) above to
the contrary notwithstanding, (i) the Borrower may not select Eurocurrency Rate
Advances for any Revolving Credit Borrowing if the aggregate amount of such
Revolving Credit Borrowing is less than $10,000,000 or if the obligation of the
Lenders to make Eurocurrency Rate Advances shall then be suspended pursuant to
Section 2.08 or 2.12 and (ii) the Eurocurrency Rate Advances may not be
outstanding as part of more than eight separate Revolving Credit Borrowings.

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

(d)           Unless the Agent shall have received notice
from a Lender prior to the date of any Revolving Credit Borrowing that such
Lender will not make available to the Agent such Lender’s ratable portion of
such Revolving Credit Borrowing, the Agent may assume that such Lender has made
such portion available to the Agent on the date of such Revolving Credit
Borrowing in accordance with subsection (a) of this Section 2.02 and the Agent
may, in reliance upon such assumption, make available to the Borrower on such
date a corresponding 

 13
 

amount. If and to the
extent that such Lender shall not have so made such ratable portion available
to the Agent, such Lender and the Borrower severally agree to repay to the
Agent forthwith on demand such corresponding amount together with interest
thereon, for each day from the date such amount is made available to the
Borrower until the date such amount is repaid to the Agent, at (i) in the case
of the Borrower, the higher of (A) the interest rate applicable at the time to
Revolving Credit Advances comprising such Revolving Credit Borrowing and (B)
the cost of funds incurred by the Agent in respect of such amount and (ii) in
the case of such Lender, (A) the Federal Funds Effective Rate in the case of
Advances denominated in Dollars or (B) the cost of funds incurred by the Agent
in respect of such amount in the case of Advances denominated in Committed
Currencies. If such Lender shall repay to the Agent such corresponding amount,
such amount so repaid shall constitute such Lender’s Revolving Credit Advance
as part of such Revolving Credit Borrowing for purposes of this Agreement.

(e)           The failure of any Lender to make the
Revolving Credit Advance to be made by it as part of any Revolving Credit
Borrowing shall not relieve any other Lender of its obligation, if any,
hereunder to make its Revolving Credit Advance on the date of such Revolving
Credit Borrowing, but no Lender shall be responsible for the failure of any
other Lender to make the Revolving Credit Advance to be made by such other
Lender on the date of any Revolving Credit Borrowing.

SECTION 2.03. The
Competitive Bid Advances. (a) Each Lender severally agrees that the
Borrower may make Competitive Bid Borrowings under this Section 2.03 from time
to time on any Business Day during the period from the date hereof until the date
occurring 30 days prior to the final Termination Date in the manner set forth
below; provided that, following the making of each Competitive Bid
Borrowing, the aggregate amount of the Advances then outstanding (based in
respect of any Advance denominated in a Foreign Currency on the Equivalent in
Dollars at the time such Competitive Bid Borrowing is requested) shall not
exceed the aggregate amount of the Commitments of the Lenders (computed without
regard to any Competitive Bid Reduction); provided  further that
following the making of each Competitive Bid Borrowing, the aggregate amount of
the Advances then outstanding (based in respect of any Advance denominated in a
Foreign Currency on the Equivalent in Dollars at the time such Competitive Bid
Borrowing is requested) shall not exceed the aggregate amount of one third of
the Commitments of the Lenders (computed without regard to any Competitive Bid
Reduction).

(i)            The Borrower may request a
Competitive Bid Borrowing under this Section 2.03 by delivering to the Agent,
by telecopier, a notice of a Competitive Bid Borrowing (a “Notice of
Competitive Bid Borrowing”), in substantially the form of Exhibit B-2
hereto, specifying therein the requested (A) date of such proposed Competitive
Bid Borrowing, (B) aggregate amount of such proposed Competitive Bid Borrowing,
(C) interest rate basis and day count convention to be offered by the Lenders,
(D) currency of such proposed Competitive Bid Borrowing, (E) in the case of a
Competitive Bid Borrowing consisting of LIBO Rate Advances, Interest Period, or
in the case of a Competitive Bid Borrowing consisting of Fixed Rate Advances or
Local Rate Advances, maturity date for repayment of each Fixed Rate Advance or
Local Rate Advance to be made as part of such Competitive Bid Borrowing (which
maturity date may not be earlier than the date occurring seven days after the
date of such Competitive Bid Borrowing or later than the earlier of (I) 180
days after the date of such Competitive Bid Borrowing and (II) the final
Termination Date), (F) interest payment date or dates relating thereto, (G)
location of the Borrower’s account to which funds are to be advanced and (H)
other terms (if any) to be applicable to such Competitive Bid Borrowing, not
later than (w) 10:00 A.M. (New York City time) at least two Business Days prior
to the date of the proposed Competitive Bid Borrowing, if the Borrower shall
specify in the Notice of Competitive Bid Borrowing that the rates of interest
to be offered by the Lenders shall be fixed rates per annum (the Advances
comprising any such Competitive Bid Borrowing being referred to herein as “Fixed
Rate Advances”) and that the Advances comprising such proposed Competitive
Bid Borrowing shall be denominated in Dollars, (x) 10:00 A.M. (New York City
time) at least four Business Days prior to the date of the proposed Competitive
Bid Borrowing, if the Borrower shall specify in the Notice of Competitive Bid
Borrowing that the Advances comprising such Competitive Bid Borrowing shall be
LIBO Rate Advances denominated in Dollars, (y) 10:00 A.M. (London time) at
least two Business Days prior to the date of the proposed Competitive Bid
Borrowing, if the Borrower shall specify in the Notice of Competitive Bid
Borrowing that the Advances comprising such proposed Competitive Bid Borrowing
shall be either Fixed Rate Advances denominated in any Foreign Currency or
Local Rate Advances denominated in any Foreign Currency and (z) 10:00 A.M.
(London time) at least four Business Days prior to the date of the proposed 

 14
 

Competitive Bid Borrowing, if the Borrower shall
instead specify in the Notice of Competitive Bid Borrowing that the Advances
comprising such Competitive Bid Borrowing shall be LIBO Rate Advances
denominated in any Foreign Currency. The Agent shall in turn promptly notify
each Lender of each request for a Competitive Bid Borrowing received by it from
the Borrower by sending such Lender a copy of the related Notice of Competitive
Bid Borrowing.

(ii)           Each Lender may, if, in its sole
discretion, it elects to do so, irrevocably offer to make one or more
Competitive Bid Advances to the Borrower as part of such proposed Competitive
Bid Borrowing at a rate or rates of interest specified by such Lender in its
sole discretion, by notifying the Agent (which shall give prompt notice thereof
to the Borrower), (A) before 9:30 A.M. (New York City time) on the date of such
proposed Competitive Bid Borrowing, in the case of a Competitive Bid Borrowing
consisting of Fixed Rate Advances denominated in Dollars, (B) before 10:00 A.M.
(New York City time) three Business Days before the date of such proposed
Competitive Bid Borrowing, in the case of a Competitive Bid Borrowing
consisting of LIBO Rate Advances, denominated in Dollars, (C) before 12:00 noon
(London time) on the Business Day prior to the date of such proposed
Competitive Bid Borrowing, in the case of a Competitive Bid Borrowing
consisting of either Fixed Rate Advances denominated in any Foreign Currency or
Local Rate Advances denominated in any Foreign Currency and (D) before 12:00
noon (London time) on the third Business Day prior to the date of such proposed
Competitive Bid Borrowing, in the case of a Competitive Bid Borrowing
consisting of LIBO Rate Advances denominated in any Foreign Currency, of the
minimum amount and maximum amount of each Competitive Bid Advance which such
Lender would be willing to make as part of such proposed Competitive Bid
Borrowing (which amounts or the Equivalent thereof in Dollars, as the case may
be, of such proposed Competitive Bid may, subject to the provisos to the first
sentence of this Section 2.03(a), exceed such Lender’s Commitment, if any), the
rate or rates of interest therefor and such Lender’s Applicable Lending Office
with respect to such Competitive Bid Advance; provided that if the Agent
in its capacity as a Lender shall, in its sole discretion, elect to make any
such offer, it shall notify the Borrower of such offer at least 30 minutes
before the time and on the date on which notice of such election is to be given
to the Agent by the other Lenders. If any Lender shall elect not to make such
an offer, such Lender shall so notify the Agent before 10:00 A.M. (New York
City time) on the date on which notice of such election is to be given to the
Agent by the other Lenders, and such Lender shall not be obligated to, and
shall not, make any Competitive Bid Advance as part of such Competitive Bid
Borrowing; provided that the failure by any Lender to give such notice
shall not cause such Lender to be obligated to make any Competitive Bid Advance
as part of such proposed Competitive Bid Borrowing.

(iii)          The Borrower shall, in turn, (A)
before 10:30 A.M. (New York City time) on the date of such proposed Competitive
Bid Borrowing, in the case of a Competitive Bid Borrowing consisting of Fixed
Rate Advances denominated in Dollars, (B) before 11:00 A.M. (New York City
time) three Business Days before the date of such proposed Competitive Bid
Borrowing, in the case of a Competitive Bid Borrowing consisting of LIBO Rate
Advances denominated in Dollars, (C) before 3:00 P.M. (London time) on the
Business Day prior to the date of such proposed Competitive Bid Borrowing, in
the case of a Competitive Bid Borrowing consisting of either Fixed Rate
Advances denominated in any Foreign Currency or Local Rate Advances denominated
in any Foreign Currency and (D) before 3:00 P.M. (London time) on the third
Business Day prior to the date of such Competitive Bid Borrowing, in the case
of a Competitive Bid Borrowing consisting of LIBO Rate Advances denominated in
any Foreign Currency, either:

(x)            cancel such Competitive Bid
Borrowing by giving the Agent notice to that effect, or

(y)           accept one or more of the offers made
by any Lender or Lenders pursuant to paragraph (ii) above, in its sole
discretion, by giving notice to the Agent of the amount of each Competitive Bid
Advance (which amount shall be equal to or greater than the minimum amount, and
equal to or less than the maximum amount, notified to the Borrower by the Agent
on behalf of such Lender for such Competitive Bid Advance pursuant to paragraph
(ii) above) to be made by 

 15
 

each Lender as part of such Competitive Bid Borrowing,
and reject any remaining offers made by Lenders pursuant to paragraph (ii)
above by giving the Agent notice to that effect. The Borrower shall accept the
offers made by any Lender or Lenders to make Competitive Bid Advances in order
of the lowest to the highest rates of interest offered by such Lenders. If two
or more Lenders have offered the same interest rate, the amount to be borrowed
at such interest rate will be allocated among such Lenders in proportion to the
amount that each such Lender offered at such interest rate.

(iv)          If the Borrower notifies the Agent
that such Competitive Bid Borrowing is cancelled pursuant to paragraph (iii)(x)
above, the Agent shall give prompt notice thereof to the Lenders and such
Competitive Bid Borrowing shall not be made.

(v)           If the Borrower accepts one or more
of the offers made by any Lender or Lenders pursuant to paragraph (iii)(y)
above, the Agent shall in turn promptly notify (A) each Lender that has made an
offer as described in paragraph (ii) above, of the date and aggregate amount of
such Competitive Bid Borrowing and whether or not any offer or offers made by
such Lender pursuant to paragraph (ii) above have been accepted by the
Borrower, (B) each Lender that is to make a Competitive Bid Advance as part of
such Competitive Bid Borrowing, of the amount of each Competitive Bid Advance
to be made by such Lender as part of such Competitive Bid Borrowing, and (C)
each Lender that is to make a Competitive Bid Advance as part of such
Competitive Bid Borrowing, upon receipt, that the Agent has received forms of
documents appearing to fulfill the applicable conditions set forth in Article
III. Each Lender that is to make a Competitive Bid Advance as part of such
Competitive Bid Borrowing shall, before 11:00 A.M. (New York City time), in the
case of Competitive Bid Advances to be denominated in Dollars or 11:00 A.M.
(London time), in the case of Competitive Bid Advances to be denominated in any
Foreign Currency, on the date of such Competitive Bid Borrowing specified in
the notice received from the Agent pursuant to clause (A) of the preceding
sentence or any later time when such Lender shall have received notice from the
Agent pursuant to clause (C) of the preceding sentence, make available for the
account of its Applicable Lending Office to the Agent  (x) in the case of a
Competitive Bid Borrowing denominated in Dollars, at its address referred to in
Section 8.02(a), in same day funds, such Lender’s portion of such Competitive
Bid Borrowing in Dollars and (y) in the case of a Competitive Bid Borrowing in
a Foreign Currency, at the Payment Office for such Foreign Currency as shall
have been notified by the Agent to the Lenders prior thereto, in same day
funds, such Lender’s portion of such Competitive Bid Borrowing in such Foreign
Currency. Upon fulfillment of the applicable conditions set forth in Article
III and after receipt by the Agent of such funds, the Agent will make such
funds available to the Borrower at the location specified by the Borrower in
its Notice of Competitive Bid Borrowing. Promptly after each Competitive Bid
Borrowing the Agent will notify each Lender of the amount of the Competitive
Bid Borrowing, the consequent Competitive Bid Reduction and the dates upon
which such Competitive Bid Reduction commenced and will terminate.

(vi)          If the Borrower notifies the Agent
that it accepts one or more of the offers made by any Lender or Lenders
pursuant to paragraph (iii)(y) above, such notice of acceptance shall be
irrevocable and binding on the Borrower. The Borrower shall indemnify each
Lender against any loss, cost or expense incurred by such Lender as a result of
any failure to fulfill on or before the date specified in the related Notice of
Competitive Bid Borrowing for such Competitive Bid Borrowing the applicable
conditions set forth in Article III, including, without limitation, any loss
(including loss of anticipated profits), cost or expense incurred by reason of
the liquidation or reemployment of deposits or other funds acquired by such
Lender to fund the Competitive Bid Advance to be made by such Lender as part of
such Competitive Bid Borrowing when such Competitive Bid Advance, as a result
of such failure, is not made on such date.

(b)           Each Competitive Bid Borrowing shall
be in an aggregate amount of $10,000,000 (or the Equivalent thereof in any
Foreign Currency, determined as of the time of the applicable Notice of
Competitive Bid Borrowing) or an integral multiple of $1,000,000 (or the
Equivalent thereof in any Foreign Currency, determined as of the time of the
applicable Notice of Competitive Bid Borrowing) in excess thereof and,
following the making of 

 16
 

each Competitive
Bid Borrowing, the Borrower shall be in compliance with the limitations set
forth in the provisos to the first sentence of subsection (a) above.

(c)           Within the limits and on the
conditions set forth in this Section 2.03, the Borrower may from time to time
borrow under this Section 2.03, repay or prepay pursuant to subsection (d)
below, and reborrow under this Section 2.03, provided that a Competitive
Bid Borrowing shall not be made within three Business Days of the date of any
other Competitive Bid Borrowing.

(d)           The Borrower shall repay to the Agent
for the account of each Lender that has made a Competitive Bid Advance, on the
maturity date of each Competitive Bid Advance (such maturity date being that
specified by the Borrower for repayment of such Competitive Bid Advance in the
related Notice of Competitive Bid Borrowing delivered pursuant to subsection
(a)(i) above and provided in the Competitive Bid Note evidencing such
Competitive Bid Advance), the then unpaid principal amount of such Competitive
Bid Advance. The Borrower shall have no right to prepay any principal amount of
any Competitive Bid Advance unless, and then only on the terms, specified by
the Borrower for such Competitive Bid Advance in the related Notice of
Competitive Bid Borrowing delivered pursuant to subsection (a)(i) above and set
forth in the Competitive Bid Note evidencing such Competitive Bid Advance.

(e)           The Borrower shall pay interest on
the unpaid principal amount of each Competitive Bid Advance from the date of
such Competitive Bid Advance to the date the principal amount of such
Competitive Bid Advance is repaid in full, at the rate of interest for such
Competitive Bid Advance specified by the Lender making such Competitive Bid
Advance in its notice with respect thereto delivered pursuant to subsection
(a)(ii) above, payable on the interest payment date or dates specified by the
Borrower for such Competitive Bid Advance in the related Notice of Competitive
Bid Borrowing delivered pursuant to subsection (a)(i) above, as provided in the
Competitive Bid Note evidencing such Competitive Bid Advance. Upon the
occurrence and during the continuance of an Event of Default, the Borrower
shall pay interest on the amount of unpaid principal of and interest on each
Competitive Bid Advance owing to a Lender, payable in arrears on the date or
dates interest is payable thereon, at a rate per annum equal at all times to 2%
per annum above the rate per annum required to be paid on such Competitive Bid
Advance under the terms of the Competitive Bid Note evidencing such Competitive
Bid Advance unless otherwise agreed in such Competitive Bid Note.

(f)            The indebtedness of the Borrower
resulting from each Competitive Bid Advance made to the Borrower as part of a
Competitive Bid Borrowing shall be evidenced by a separate Competitive Bid Note
of the Borrower payable to the order of the Lender making such Competitive Bid
Advance.

SECTION 2.04. Fees.
(a) Facility Fee. The Borrower agrees to pay to the Agent for the
account of each Lender a facility fee on the aggregate amount of such Lender’s
Commitment from the Effective Date in the case of each Initial Lender and from
the later of the Effective Date and the effective date specified in the
Assumption Agreement or in the Assignment and Acceptance pursuant to which it
became a Lender in the case of each other Lender until the Termination Date
applicable to such Lender at a rate per annum equal to the Applicable
Percentage in effect from time to time, payable in arrears quarterly on the
last day of each March, June, September and December, commencing September 30,
2007, and on the final Termination Date.

(b)           Agent’s Fees. The Borrower
shall pay to the Agent for its own account such fees as may from time to time
be agreed between the Borrower and the Agent.

SECTION 2.05. Optional
Termination or Reduction of the Commitments. The Borrower shall have the
right, upon at least three Business Days’ notice to the Agent, to terminate in
whole or reduce ratably in part the unused portions of the respective
Commitments of the Lenders, provided that each partial reduction shall
be in the aggregate amount of $10,000,000 or an integral multiple of $1,000,000
in excess thereof and provided further that the aggregate amount of the
Commitments of the Lenders shall not be reduced to an amount that is less than
the aggregate principal amount of the Competitive Bid Advances denominated in
Dollars then outstanding plus the Equivalent in Dollars (determined as of the
date of the notice of prepayment) of the aggregate principal amount of the
Competitive Bid Advances denominated in Foreign Currencies then outstanding.

 17
 

SECTION 2.06. Repayment
of Revolving Credit Advances. The Borrower shall repay to the Agent for the
account of each Lender on the Termination Date applicable to such Lender the
aggregate principal amount of the Revolving Credit Advances made by such Lender
and then outstanding.

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

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

(ii)           Eurocurrency Rate Advances.
During such periods as such Revolving Credit Advance is a Eurocurrency Rate Advance,
a rate per annum equal at all times during each Interest Period for such
Revolving Credit Advance to the sum of (w) the Eurocurrency Rate for such
Interest Period for such Revolving Credit Advance plus (x) the
Applicable Margin in effect from time to time plus (y) the Applicable
Utilization Fee in effect from time to time plus (z) without duplication
of amounts paid pursuant to Section 2.11, in the case of a Eurocurrency Rate
Advance of any Lender which is lent from a Lending Office in the United Kingdom
or a Participating Member State the Mandatory Cost, payable in arrears on the
last day of such Interest Period and, if such Interest Period has a duration of
more than three months, on each day that occurs during such Interest Period
every three months from the first day of such Interest Period and on the date
such Eurocurrency Rate Advance shall be Converted or paid in full.

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

SECTION 2.08. Interest
Rate Determination. (a) The Agent shall give prompt notice to the Borrower
and the Lenders of the applicable interest rate determined by the Agent for purposes
of Section 2.07(a)(i) or (ii).

(b)           If, with respect to any Eurocurrency
Rate Advances, the Required Lenders notify the Agent that (i) they are unable
to obtain matching deposits in the London inter-bank market at or about 11:00
A.M. (London time) on the second Business Day before the making of a Borrowing
in sufficient amounts to fund their respective Revolving Credit Advances as a
part of such Borrowing during its Interest Period or (ii) the Eurocurrency Rate
for any Interest Period for such Advances will not adequately reflect the cost
to such Required Lenders of making, funding or maintaining their respective
Eurocurrency Rate Advances for such Interest Period, the Agent shall forthwith
so notify the Borrower and the Lenders, whereupon (A) the Borrower will, on the
last day of the then existing Interest Period therefor, (1) if such
Eurocurrency Rate Advances are denominated in Dollars, either (x) prepay such
Advances or (y) Convert such Advances into Base Rate Advances and (2) if such
Eurocurrency Rate Advances are denominated in any Committed Currency, either
(x) prepay such Advances or (y) exchange such Advances into an Equivalent
amount of Dollars and Convert such Advances into Base Rate Advances and (B) the
obligation of the Lenders to make, or to Convert Revolving Credit Advances
into, Eurocurrency Rate Advances shall be suspended until the Agent shall
notify the Borrower and the Lenders that the circumstances causing such 

 18
 

suspension no longer
exist; provided that, if the circumstances set forth in clause (ii)
above are applicable, the Borrower may elect, by notice to the Agent and the
Lenders, to continue such Advances in such Committed Currency for Interest
Periods of not longer than one month, which Advances shall thereafter bear
interest at a rate per annum equal to the Applicable Margin plus, for each
Lender, the cost to such Lender (expressed as a rate per annum) of funding its
Eurocurrency Rate Advances by whatever means it reasonably determines to be
appropriate. Each Lender shall certify its cost of funds for each Interest
Period to the Agent and the Borrower as soon as practicable (but in any event
not later than ten Business Days after the first day of such Interest Period).

(c)           If the Borrower shall fail to select
the duration of any Interest Period for any Eurocurrency Rate Advances in
accordance with the provisions contained in the definition of “Interest Period”
in Section 1.01, the Agent will forthwith so notify the Borrower and the
Lenders and such Advances will automatically, on the last day of the then
existing Interest Period therefor, be continued as Eurocurrency Rate Advances
having an interest period of one month.

(d)           On the date on which the aggregate
unpaid principal amount of Eurocurrency Rate Advances comprising any Borrowing
shall be reduced, by payment or prepayment or otherwise, to less than
$10,000,000, such Advances shall automatically (i) if such Eurocurrency Rate
Advances are denominated in Dollars, Convert into Base Rate Advances and (ii)
if such Eurocurrency Rate Advances are denominated in a Committed Currency, be
exchanged for an Equivalent amount of Dollars and Convert into Base Rate
Advances.

(e)           Upon the occurrence and during the
continuance of any Event of Default, (i) each Eurocurrency Rate Advance will
automatically, on the last day of the then existing Interest Period therefor,
(A) if such Eurocurrency Rate Advances are denominated in Dollars, be Converted
into Base Rate Advances and (B) if such Eurocurrency Rate Advances are
denominated in any Committed Currency, be exchanged into an Equivalent amount
of Dollars and be Converted into Base Rate Advances and (ii) the obligation of
the Lenders to make, or to Convert Advances into, Eurocurrency Rate Advances
shall be suspended; provided that Borrower may elect, by notice to the
Agent and the Lenders within one Business Day of such Event of Default, to
continue such Advances in such Committed Currency, whereupon the Agent may
require that each Interest Period relating to such Eurocurrency Rate Advances
shall bear interest at the Overnight Eurocurrency Rate for a period of three
Business Days and thereafter, each such Interest Period shall have a duration
of not longer than one month. “Overnight Eurocurrency Rate” means the
rate per annum applicable to an overnight period beginning on one Business Day
and ending on the next Business Day equal to the sum of 1%, the Applicable
Margin and the average, rounded upward to the nearest whole multiple of 1/16 of
1%, if such average is not such a multiple, of the respective rates per annum
quoted by JPMCB as the rate at which it is offering overnight deposits in the
relevant currency in amounts comparable to JPMCB’s Eurocurrency Rate Advances.

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

SECTION 2.10. Prepayments
of Revolving Credit Advances. (a) Optional. The Borrower may, upon
notice at least two Business Days’ prior to the date of such prepayment, in the
case of Eurocurrency Rate Advances, and not later than 11:00 A.M. (New York City
time) on the date of such prepayment, in the case of Base Rate Advances, to the
Agent stating the proposed date and aggregate principal amount of the
prepayment, and if such notice is given the Borrower shall, prepay the
outstanding principal amount of the Revolving Credit Advances comprising part
of the same Revolving Credit Borrowing in whole or ratably in part without
premium or penalty, 

 19
 

together with accrued
interest to the date of such prepayment on the principal amount prepaid; provided,
however, that (x) each partial prepayment shall, in the case of
Eurocurrency Rate Advances, be in an aggregate principal amount of $10,000,000
or an integral multiple of $1,000,000 in excess thereof or the Equivalent
thereof in a Committed Currency (determined on the date notice of prepayment is
given) or, in the case of Base Rate Advances, be in an aggregate principal
amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof or
the Equivalent thereof in a Committed Currency (determined on the date notice
of prepayment is given) and (y) in the event of any such prepayment of a
Eurocurrency Rate Advance, the Borrower shall be obligated to reimburse the
Lenders in respect thereof pursuant to Section 8.04(c).

(b)           Mandatory Prepayments. (i) If
the Agent notifies the Borrower that, on any interest payment date, the sum of
(A) the aggregate principal amount of all Advances denominated in Dollars then
outstanding plus (B) the Equivalent in Dollars (determined on the third
Business Day prior to such interest payment date) of the aggregate principal
amount of all Advances denominated in Foreign Currencies then outstanding
exceeds 103% of the aggregate Commitments of the Lenders on such date, the
Borrower shall, within two Business Days after receipt of such notice, prepay
the outstanding principal amount of any Advances owing by the Borrower in an
aggregate amount sufficient to reduce such sum to an amount not to exceed 100%
of the aggregate Commitments of the Lenders on such date.

(ii)           Each prepayment made pursuant to this
Section 2.10(b) shall be made together with any interest accrued to the date of
such prepayment on the principal amounts prepaid and, in the case of any
prepayment of a Eurocurrency Rate Advance, a LIBO Rate Advance or a Local Rate
Advance on a date other than the last day of an Interest Period or at its
maturity, any additional amounts which the Borrower shall be obligated to
reimburse to the Lenders in respect thereof pursuant to Section 8.04(c). The
Agent shall give prompt notice of any prepayment required under this Section
2.10(b) to the Borrower and the Lenders.

SECTION 2.11. Increased
Costs. (a) If, due to either (i) the introduction of or any change in or in
the interpretation of any law or regulation (including, but not limited to, any
changes resulting in the failure of the Mandatory Cost, as calculated
hereunder, to represent the cost to any Lender of complying with the
requirements of the Bank of England and/or the Financial Services Authority or
the European Central Bank in relation to its making, funding or maintaining
Eurocurrency Rate Advances) or (ii) the compliance with any guideline or
request issued by any central bank or other governmental authority including,
without limitation, any agency of the European Union or similar monetary or
multinational authority after the date hereof (whether or not having the force
of law) there shall be any increase in the cost to any Lender of agreeing to
make or making, funding or maintaining Eurocurrency Rate Advances or LIBO Rate
Advances (excluding for purposes of this Section 2.11 any such increased costs
resulting from (i) Taxes or Other Taxes (as to which Section 2.14 shall govern)
and (ii) changes in the basis of taxation of overall net income or overall
gross income by the United States or by the foreign jurisdiction or state under
the laws of which such Lender is organized or is otherwise subject to tax),
then the Borrower shall from time to time, upon demand by such Lender (with a
copy of such demand to the Agent), pay to the Agent for the account of such
Lender additional amounts sufficient to compensate such Lender for such
increased cost, provided that the Borrower shall not be required to pay
any such additional amounts to the extent such additional amounts accrued prior
to the date that is six months prior to the date of such notice. A certificate
in reasonable detail as to the amount of such increased cost, submitted to the
Borrower and the Agent by such Lender contemporaneously with the demand for
payment, shall be conclusive and binding for all purposes, absent manifest
error.

(b)           If any Lender determines that
compliance with any law or regulation or any guideline or request from any
central bank or other governmental authority (whether or not having the force
of law) affects or would affect the amount of capital required or expected to
be maintained by such Lender or any corporation controlling such Lender and
that the amount of such capital is increased by or based upon the existence of
such Lender’s commitment to lend hereunder and other commitments of this type,
then, upon demand by such Lender (with a copy of such demand to the Agent), the
Borrower shall pay to the Agent for the account of such Lender, from time to
time as specified by such Lender, additional amounts sufficient to compensate
such Lender or such corporation in the light of such circumstances, to the
extent that such Lender reasonably determines such increase in capital to be
allocable to the existence of such Lender’s commitment to lend hereunder. A
certificate in reasonable detail as to such amounts submitted to the Borrower
and the Agent by such Lender contemporaneously with the demand for payment
shall be conclusive and binding for all purposes, absent manifest error.

 20
 

SECTION 2.12. Illegality.
Notwithstanding any other provision of this Agreement, if any Lender shall
notify the Agent that the introduction of or any change in or in the
interpretation of any law or regulation makes it unlawful, or any central bank
or other governmental authority asserts that it is unlawful, for any Lender or
its Eurocurrency Lending Office to perform its obligations hereunder to make
Eurocurrency Rate Advances in Dollars or any Committed Currency or LIBO Rate
Advances in Dollars or any Foreign Currency or to fund or maintain Eurocurrency
Rate Advances in Dollars or any Committed Currency or LIBO Rate Advances in
Dollars or any Foreign Currency hereunder, (a) each Eurocurrency Rate Advance
or LIBO Rate Advance, as the case may be, will automatically, upon such demand,
(i) if such Eurocurrency Rate Advance or LIBO Rate Advance is denominated in
Dollars, be Converted into a Base Rate Advance or an Advance that bears
interest at the rate set forth in Section 2.07(a)(i), as the case may be, and
(ii) if such Eurocurrency Rate Advance or LIBO Rate Advance is denominated in
any Foreign Currency, be exchanged into an Equivalent amount of Dollars and be
Converted into a Base Rate Advance or an Advance that bears interest at the
rate set forth in Section 2.07(a)(i), as the case may be, and (b) the
obligation of the Lenders to make Eurocurrency Rate Advances or LIBO Rate
Advances or to Convert Revolving Credit Advances into Eurocurrency Rate
Advances shall be suspended until the Agent shall notify the Borrower and the
Lenders that the circumstances causing such suspension no longer exist.

SECTION 2.13. Payments
and Computations. (a) The Borrower shall make each payment hereunder,
except with respect to principal of, interest on, and other amounts relating
to, Advances denominated in a Foreign Currency, not later than 11:00 A.M. (New
York City time) on the day when due in Dollars to the Agent at the applicable
Agent’s Account in same day funds. The Borrower shall make each payment
hereunder with respect to principal of, interest on, and other amounts relating
to, Advances denominated in a Foreign Currency, not later than 11:00 A.M. (at
the Payment Office for such Foreign Currency) on the day when due in such
Foreign Currency to the Agent, by deposit of such funds to the applicable Agent’s
Account in same day funds. The Agent will promptly thereafter cause to be
distributed like funds relating to the payment of principal or interest or
facility fees ratably (other than amounts payable pursuant to Section 2.03,
2.11, 2.14 or 8.04(c)) to the Lenders for the account of their respective
Applicable Lending Offices, and like funds relating to the payment of any other
amount payable to any Lender to such Lender for the account of its Applicable
Lending Office, in each case to be applied in accordance with the terms of this
Agreement. Upon any Assuming Lender becoming a Lender hereunder as a result of
Commitment Increase pursuant to Section 2.18 or an extension of the Termination
Date pursuant to Section 2.19, and upon the Agent’s receipt of such Lender’s Assumption
Agreement and recording of the information contained therein in the Register,
from and after the applicable Increase Date or Extension Date, as the case may
be, the Agent shall make all payments hereunder and under any Notes issued in
connection therewith in respect of the interest assumed thereby to the Assuming
Lender. Upon its acceptance of an Assignment and Acceptance and recording of
the information contained therein in the Register pursuant to Section 8.07(c),
from and after the effective date specified in such Assignment and Acceptance,
the Agent shall make all payments hereunder and under the Notes in respect of
the interest assigned thereby to the Lender assignee thereunder, and the
parties to such Assignment and Acceptance shall make all appropriate
adjustments in such payments for periods prior to such effective date directly
between themselves.

(b)           The Borrower hereby authorizes each
Lender, if and to the extent payment owed to such Lender is not made when due
hereunder or under the Note held by such Lender, to charge from time to time
against any or all of the Borrower’s accounts with such Lender any amount so
due. Each Lender that charges an account of the Borrower in accordance with
this Section agrees to promptly so notify the Borrower, provided that
the failure to give such notice shall not affect the validity of such charge.

(c)           All computations of interest based on
the Base Rate shall be made by the Agent on the basis of a year of 365 or 366
days, as the case may be, all computations of interest based on the
Eurocurrency Rate or the Federal Funds Effective Rate and of facility fees
shall be made by the Agent on the basis of a year of 360 days, except in the
case of British Pounds which shall be made by the Agent on the basis of a year
of 365 days, and computations in respect of Competitive Bid Advances shall be
made by the Agent as specified in the applicable Notice of Competitive Bid
Borrowing (or, in each case of Advances denominated in Foreign Currencies where
market practice differs, in accordance with market practice), in each case for
the actual number of days (including the first day but excluding the last day)
occurring in the period for which such interest or facility fees are payable.
Each determination by the Agent of an interest rate hereunder shall be
conclusive and binding for all purposes, absent manifest error.

 21
 

(d)           Whenever any payment hereunder or
under the Notes shall be stated to be due on a day other than a Business Day,
such payment shall be made on the next succeeding Business Day, and such
extension of time shall in such case be included in the computation of payment
of interest or facility fee, as the case may be; provided, however,
that, if such extension would cause payment of interest on or principal of
Eurocurrency Rate Advances or LIBO Rate Advances to be made in the next
following calendar month, such payment shall be made on the next preceding
Business Day.

(e)           Unless the Agent shall have received
notice from the Borrower prior to the date on which any payment is due to the
Lenders hereunder that the Borrower will not make such payment in full, the
Agent may assume that the Borrower has made such payment in full to the Agent
on such date and the Agent may, in reliance upon such assumption, cause to be
distributed to each Lender on such due date an amount equal to the amount then
due such Lender. If and to the extent the Borrower shall not have so made such
payment in full to the Agent, each Lender shall repay to the Agent forthwith on
demand such amount distributed to such Lender together with interest thereon,
for each day from the date such amount is distributed to such Lender until the
date such Lender repays such amount to the Agent, at (i) the Federal Funds
Effective Rate in the case of Advances denominated in Dollars or (ii) the cost
of funds incurred by the Agent in respect of such amount in the case of
Advances denominated in Foreign Currencies.

SECTION 2.14. Taxes.
(a) Any and all payments by the Borrower hereunder or under the Notes shall be
made, in accordance with Section 2.13, free and clear of and without deduction
for any and all present or future taxes, levies, imposts, deductions, charges
or withholdings, and all liabilities with respect thereto, excluding, in
the case of each Lender and the Agent, taxes imposed on its overall net income,
and franchise taxes imposed on it in lieu of net income taxes, by the
jurisdictions in which such Lender or the Agent (as the case may be) is
otherwise subject to tax (all such non-excluded taxes, levies, imposts,
deductions, charges, withholdings and liabilities in respect of payments
hereunder or under the Notes being hereinafter referred to as “Taxes”).
If the Borrower shall be required by law to deduct any Taxes from or in respect
of any sum payable hereunder or under any Note to any Lender or the Agent, (i)
the sum payable shall be increased as may be necessary so that after making all
required deductions (including deductions applicable to additional sums payable
under this Section 2.14) such Lender or the Agent (as the case may be) receives
an amount equal to the sum it would have received had no such deductions been
made, (ii) the Borrower shall make such deductions and (iii) the Borrower shall
pay the full amount deducted to the relevant taxation authority or other
authority in accordance with applicable law.

(b)           In addition, the Borrower shall pay
any present or future stamp or documentary taxes or any other excise or
property taxes, charges or similar levies that arise from any payment made
hereunder or under the Notes or from the execution, delivery or registration
of, performing under, or otherwise with respect to, this Agreement or the Notes
(hereinafter referred to as “Other Taxes”).

(c)           The Borrower shall indemnify each
Lender and the Agent for and hold it harmless against the full amount of Taxes
or Other Taxes (including, without limitation, taxes of any kind imposed by any
jurisdiction on amounts payable under this Section 2.14) imposed on or paid by
such Lender or the Agent (as the case may be) and any liability (including
penalties, interest and expenses not incurred by reason of gross negligence or
willful misconduct on the part of such Lender or the Agent) arising therefrom
or with respect thereto. This indemnification shall be made within 30 days from
the date such Lender or the Agent (as the case may be) makes written demand
therefor.

(d)           Within 30 days after the date of any
payment of Taxes, the Borrower shall furnish to the Agent, at its address
referred to in Section 8.02(a), the original or a certified copy of a receipt
evidencing such payment. In the case of any payment hereunder or under the
Notes by or on behalf of the Borrower through an account or branch outside the
United States or by or on behalf of the Borrower by a payor that is not a
United States person, if the Borrower determines that no Taxes are payable in
respect thereof, the Borrower shall furnish, or shall cause such payor to
furnish, to the Agent, at such address, an opinion of counsel as requested by
and acceptable to the Agent stating that such payment is exempt from Taxes. For
purposes of this subsection (d) and subsection (e), the terms “United States”
and “United States person” shall have the meanings specified in Section
7701 of the Internal Revenue Code.

 22

(e)           Each Lender organized under the laws
of a jurisdiction outside the United States, on or prior to the date of its
execution and delivery of this Agreement in the case of each Initial Lender and
on the date of the Assumption Agreement or the Assignment and Acceptance
pursuant to which it becomes a Lender in the case of each other Lender, and
from time to time thereafter as requested in writing by the Borrower (but only
so long as such Lender remains lawfully able to do so), shall provide each of
the Agent and the Borrower with two original Internal Revenue Service forms
W-8BEN or W-8ECI, as appropriate, or any successor or other form prescribed by
the Internal Revenue Service, certifying that such Lender is exempt from or
entitled to a reduced rate of United States withholding tax on payments
pursuant to this Agreement or the Notes. If the form provided by a Lender at
the time such Lender first becomes a party to this Agreement indicates a United
States interest withholding tax rate in excess of zero, withholding tax at such
rate shall be considered excluded from Taxes unless and until such Lender
provides the appropriate forms certifying that a lesser rate applies, whereupon
withholding tax at such lesser rate only shall be considered excluded from
Taxes for periods governed by such form; provided, however, that,
if at the date of the Assignment and Acceptance pursuant to which a Lender
assignee becomes a party to this Agreement, the Lender assignor was entitled to
payments under subsection (a) in respect of United States withholding tax with
respect to interest paid at such date, then, to such extent, the term Taxes
shall include (in addition to withholding taxes that may be imposed in the
future or other amounts otherwise includable in Taxes) United States withholding
tax, if any, applicable with respect to the Lender assignee on such date. In
addition, each Lender agrees that from time to time after the Effective Date,
when a change in circumstances renders the previous certification obsolete or
inaccurate in any material respect, it will deliver to the Borrower and the
Agent two new accurate and complete original signed copies of Internal Revenue
Service Form W-8BEN or W-8ECI, as the case may be, and such other forms as may
be required in order to confirm or establish the entitlement of such Lender to
a continued exemption from or reduction in United States withholding tax with
respect to payments under this Agreement or any Note, unless any change in
treaty, law or regulation has occurred after the date such Lender becomes a
party hereunder which renders all such forms inapplicable or which would
prevent such Lender from duly completing and delivering any such form with
respect to it and such Lender so advises the Borrower and the Agent. If any
form or document referred to in this subsection (e) requires the disclosure of
information, other than information necessary to compute the tax payable and
information required on the date hereof by Internal Revenue Service form W-BEN
or W-ECI, that the Lender reasonably considers to be confidential, the Lender
shall give notice thereof to the Borrower and shall not be obligated to include
in such form or document such confidential information.

(f)            Each Initial Lender hereby confirms
as of the Effective Date, and each other Lender confirms as of the effective
date of the Assignment and Acceptance pursuant to which it becomes a party
hereto, in favor of the Agent and the Borrower that either (i) such Lender is
not resident in the United Kingdom and is beneficially entitled to the Advances
and the interest thereon or (ii) it is a bank as defined for the purposes of
Section 349 of the Income and Corporation Taxes Act of 1988 of the United
Kingdom and is beneficially entitled to the Advances and the interest thereon,
and each Lender agrees to notify the Agent if there is any change in its
position from that set forth in this clause (f).

(g)           For any period with respect to which
a Lender has failed to provide the Borrower with the appropriate form described
in Section 2.14(e) (other  than if such failure is due to a change
in law occurring subsequent to the date on which a form originally was required
to be provided, or if such form otherwise is not required under subsection (e)
above), such Lender shall not be entitled to indemnification under Section
2.14(a) or (c) with respect to Taxes imposed by the United States by reason of
such failure; provided, however, that should a Lender become
subject to Taxes because of its failure to deliver a form required hereunder,
the Borrower shall take such steps as the Lender shall reasonably request to
assist the Lender to recover such Taxes.

(h)           Any Lender claiming any additional
amounts payable pursuant to this Section 2.14 agrees to use reasonable efforts
(consistent with its internal policy and legal and regulatory restrictions) to
change the jurisdiction of its Eurocurrency Lending Office if the making of
such a change would avoid the need for, or reduce the amount of, any such
additional amounts that may thereafter accrue and would not, in the reasonable
judgment of such Lender, be otherwise disadvantageous to such Lender.

SECTION 2.15. Sharing
of Payments, Etc. If any Lender shall obtain any payment (whether
voluntary, involuntary, through the exercise of any right of set-off, or
otherwise) on account of the Revolving Credit Advances owing to it (other than
pursuant to Section 2.11, 2.14 or 8.04(c)) in excess of its ratable share of
payments on account of the Revolving Credit Advances obtained by all the
Lenders, such Lender shall forthwith purchase 

 23
 

from the other Lenders
such participations in the Revolving Credit Advances owing to them as shall be
necessary to cause such purchasing Lender to share the excess payment ratably
with each of them; provided, however, that if all or any portion
of such excess payment is thereafter recovered from such purchasing Lender,
such purchase from each Lender shall be rescinded and such Lender shall repay
to the purchasing Lender the purchase price to the extent of such recovery
together with an amount equal to such Lender’s ratable share (according to the
proportion of (i) the amount of such Lender’s required repayment to (ii) the
total amount so recovered from the purchasing Lender) of any interest or other
amount paid or payable by the purchasing Lender in respect of the total amount
so recovered. The Borrower agrees that any Lender so purchasing a participation
from another Lender pursuant to this Section 2.15 may, to the fullest extent
permitted by law, exercise all its rights of payment (including the right of
set-off) with respect to such participation as fully as if such Lender were the
direct creditor of the Borrower in the amount of such participation.

SECTION 2.16. Evidence
of Debt. (a) Each Lender shall maintain in accordance with its usual practice
an account or accounts evidencing the indebtedness of the Borrower to such
Lender resulting from each Revolving Credit Advance owing to such Lender from
time to time, including the amounts of principal and interest payable and paid
to such Lender from time to time hereunder in respect of Revolving Credit
Advances. The Borrower agrees that upon notice by any Lender to the Borrower
(with a copy of such notice to the Agent) to the effect that a Revolving Credit
Note is required or appropriate in order for such Lender to evidence (whether
for purposes of a permitted pledge, enforcement or otherwise) the Revolving
Credit Advances owing to, or to be made by, such Lender, the Borrower shall
promptly execute and deliver to such Lender a Revolving Credit Note payable to
the order of such Lender in a principal amount up to the Commitment of such
Lender.

(b)           The Register maintained by the Agent
pursuant to Section 8.07(d) shall include a control account, and a subsidiary
account for each Lender, in which accounts (taken together) shall be recorded
(i) the date and amount of each Borrowing made hereunder, the Type of Advances
comprising such Borrowing and, if appropriate, the Interest Period applicable
thereto, (ii) the terms of each Assumption Agreement and each Assignment and
Acceptance delivered to and accepted by it, (iii) the amount of any principal
or interest due and payable or to become due and payable from the Borrower to
each Lender hereunder and (iv) the amount of any sum received by the Agent from
the Borrower hereunder and each Lender’s share thereof.

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

SECTION 2.17. Use
of Proceeds. The proceeds of the Advances shall be available (and the
Borrower agrees that it shall use such proceeds) solely for commercial paper
backstop, to finance acquisitions and for other general corporate purposes of
the Borrower and its Subsidiaries.

SECTION 2.18. Increase
in the Aggregate Commitments. (a) The Borrower may, from time to time, by
notice to the Agent, request that the aggregate amount of the Commitment be
increased by an amount of $25,000,000 or an integral multiple thereof (each a “Commitment
Increase”) to be effective as of a date that is at least 90 days prior to
the scheduled final Termination Date then in effect (the “Increase Date”)
as specified in the related notice to the Agent; provided, however
that (i) in no event shall the aggregate amount of the Commitments at any time
exceed the aggregate amount of the Commitments as of the date hereof plus
$200,000,000 and (ii) on the date of any request by the Borrower for a
Commitment Increase and on the related Increase Date the applicable conditions
set forth in Article III shall be satisfied.

(b)           The Agent shall promptly notify the
Lenders of a request by the Borrower for a Commitment Increase, which notice
shall include (i) the proposed amount of such requested Commitment Increase,
(ii) the proposed Increase Date and (iii) the date by which Lenders wishing to
participate in the Commitment Increase must commit to an increase in the amount
of their respective Commitments, which shall be at least five Business Days
prior to the Increase Date (the “Commitment Date”). Each Lender that is
willing to participate in 

 24
 

such requested Commitment
Increase (each an “Increasing Lender”) shall, in its sole discretion,
give written notice to the Agent on or prior to the Commitment Date of the
amount by which it is willing to increase its Commitment. If the Lenders notify
the Agent that they are willing to increase the amount of their respective
Commitments by an aggregate amount that exceeds the amount of the requested
Commitment Increase, the requested Commitment Increase shall be allocated among
the Lenders willing to participate therein in such amounts as are agreed
between the Borrower and the Agent.

(c)           Promptly following each Commitment
Date, the Agent shall notify the Borrower as to the amount, if any, by which
the Lenders are willing to participate in the requested Commitment Increase. If
the aggregate amount by which the Lenders are willing to participate in any
requested Commitment Increase on any such Commitment Date is less than the
requested Commitment Increase, then the Borrower may extend offers to one or
more Eligible Assignees to participate in any portion of the requested
Commitment Increase that has not been committed to by the Lenders as of the
applicable Commitment Date; provided, however, that the
Commitment of each such Eligible Assignee shall be in an amount of $10,000,000
or more. The Borrower, at its discretion, may withdraw its request for a
Commitment Increase at any time prior to the Increase Date.

(d)           On each Increase Date, each Eligible
Assignee that accepts an offer to participate in a requested Commitment
Increase in accordance with Section 2.18(b) (each such Eligible Assignee, and
each Eligible Assignee that agrees to an extension of the Termination Date in accordance
with Section 2.19(c), an “Assuming Lender”) shall become a Lender party
to this Agreement as of such Increase Date and the Commitment of each
Increasing Lender for such requested Commitment Increase shall be so increased
by such amount (or by the amount allocated to such Lender pursuant to the last
sentence of Section 2.18(b)) as of such Increase Date; provided, however,
that the Agent shall have received on or before such Increase Date the
following, each dated such date:

(i)            (A)
certified copies of resolutions of the Board of Directors of the Borrower or
the Executive Committee of such Board approving the Commitment Increase and the
corresponding modifications to this Agreement and (B) an opinion of counsel for
the Borrower (which may be in-house counsel), in substantially the form of
Exhibit D hereto;

(ii)           an
assumption agreement from each Assuming Lender, if any, in form and substance
satisfactory to the Borrower and the Agent (each an “Assumption Agreement”),
duly executed by such Eligible Assignee, the Agent and the Borrower; and

(iii)          confirmation
from each Increasing Lender of the increase in the amount of its Commitment in
a writing satisfactory to the Borrower and the Agent.

On each Increase Date,
upon fulfillment of the conditions set forth in the immediately preceding
sentence of this Section 2.18(d), the Agent shall notify the Lenders
(including, without limitation, each Assuming Lender) and the Borrower, on or
before 1:00 P.M. (New York City time), by telecopier, of the occurrence of the
Commitment Increase to be effected on such Increase Date and shall record in
the Register the relevant information with respect to each Increasing Lender
and each Assuming Lender on such date. Each Increasing Lender and each Assuming
Lender shall, before 2:00 P.M. (New York City time) on the Increase Date, make
available for the account of its Applicable Lending Office to the Agent at the
Agent’s Account, in same day funds, in the case of such Assuming Lender, an
amount equal to such Assuming Lender’s ratable portion of the Borrowings then
outstanding (calculated based on its Revolving Credit Commitment as a
percentage of the aggregate Revolving Credit Commitments outstanding after
giving effect to the relevant Commitment Increase) and, in the case of such Increasing
Lender, an amount equal to the excess of (i) such Increasing Lender’s ratable
portion of the Borrowings then outstanding (calculated based on its Revolving
Credit Commitment as a percentage of the aggregate Revolving Credit Commitments
outstanding after giving effect to the relevant Commitment Increase ) over (ii)
such Increasing Lender’s ratable portion of the Borrowings then outstanding
(calculated based on its Revolving Credit Commitment (without giving effect to
the relevant Commitment Increase) as a percentage of the aggregate Revolving
Credit Commitments (without giving effect to the relevant Commitment Increase).
After the Agent’s receipt of such funds from each such Increasing Lender and
each such Assuming Lender, the Agent will promptly thereafter cause to be
distributed like funds to the other Lenders for the account of their respective
Applicable Lending Offices in an amount to each other Lender such that the
aggregate amount of the outstanding Advances owing to each Lender 

 25
 

after giving effect to
such distribution equals such Lender’s ratable portion of the Borrowings then
outstanding (calculated based on its Revolving Credit Commitment as a
percentage of the aggregate Revolving Credit Commitments outstanding after
giving effect to the relevant Commitment Increase), and the Borrower shall pay
such Lender any amounts due pursuant to Section 8.04.

SECTION 2.19. Extension
of Termination Date. (a) At least 30 days but not more than 45 days prior
to any or all of the first, second, third or fourth anniversaries of the
Effective Date, the Borrower, by written notice to the Agent, may request an
extension of the Termination Date in effect at such time by one year from its
then scheduled expiration. The Agent shall promptly notify each Lender of such
request, and each Lender shall in turn, in its sole discretion, not later than
20 days prior to such anniversary date, notify the Borrower and the Agent in
writing as to whether such Lender will consent to such extension. If any Lender
shall fail to notify the Agent and the Borrower in writing of its consent to
any such request for extension of the Termination Date at least 20 days prior
to the applicable anniversary date, such Lender shall be deemed to be a
Non-Consenting Lender with respect to such request. The Agent shall notify the
Borrower not later than 15 days prior to the applicable anniversary date of the
decision of the Lenders regarding the Borrower’s request for an extension of
the Termination Date.

(b)           If all the Lenders consent in writing
to any such request in accordance with subsection (a) of this Section 2.19, the
Termination Date in effect at such time shall, effective as at the applicable
anniversary date (the “Extension Date”), be extended for one year;
provided that on each Extension Date the applicable conditions set forth in
Article III shall be satisfied. If less than all of the Lenders consent in
writing to any such request in accordance with subsection (a) of this Section
2.19, the Termination Date in effect at such time shall, effective as at the
applicable Extension Date and subject to subsection (d) of this Section 2.19,
be extended as to those Lenders that so consented (each a “Consenting Lender”)
but shall not be extended as to any other Lender (each a “Non-Consenting
Lender”). To the extent that the Termination Date is not extended as to any
Lender pursuant to this Section 2.19 and the Commitment of such Lender is not
assumed in accordance with subsection (c) of this Section 2.19 on or prior to
the applicable Extension Date, the Commitment of such Non-Consenting Lender
shall automatically terminate in whole on such unextended Termination Date
without any further notice or other action by the Borrower, such Lender or any
other Person; provided that such Non-Consenting Lender’s rights under Sections
2.11, 2.14 and 8.04, and its obligations under Section 7.05, shall survive the
Termination Date for such Lender as to matters occurring prior to such date. It
is understood and agreed that no Lender shall have any obligation whatsoever to
agree to any request made by the Borrower for any requested extension of the
Termination Date.

(c)           If less than all of the Lenders
consent to any such request pursuant to subsection (a) of this Section 2.19,
the Agent shall promptly so notify the Consenting Lenders, and each Consenting
Lender may, in its sole discretion, give written notice to the Agent not later
than 10 days prior to the Extension Date of the amount of the Non-Consenting
Lenders’ Commitments for which it is willing to accept an assignment. If the
Consenting Lenders notify the Agent that they are willing to accept assignments
of Commitments in an aggregate amount that exceeds the amount of the
Commitments of the Non-Consenting Lenders, such Commitments shall be allocated
among the Consenting Lenders willing to accept such assignments in such amounts
as are agreed between the Borrower and the Agent. If after giving effect to the
assignments of Commitments described above there remain any Commitments of
Non-Consenting Lenders, the Borrower may arrange for one or more Consenting
Lenders or other Eligible Assignees as Assuming Lenders to assume, effective as
of the Extension Date, any Non-Consenting Lender’s Commitment and all of the
obligations of such Non-Consenting Lender under this Agreement thereafter
arising, without recourse to or warranty by, or expense to, such Non-Consenting
Lender; provided, however, that the amount of the Commitment of any such
Assuming Lender as a result of such substitution shall in no event be less than
$10,000,000 unless the amount of the Commitment of such Non-Consenting Lender
is less than $10,000,000, in which case such Assuming Lender shall assume all
of such lesser amount; and provided  further that:

(i)            any
such Consenting Lender or Assuming Lender shall have paid to such
Non-Consenting Lender (A) the aggregate principal amount of, and any interest
accrued and unpaid to the effective date of the assignment on, the outstanding
Advances, if any, of such Non-Consenting Lender plus (B) any accrued but unpaid
facility fees owing to such Non-Consenting Lender as of the effective date of
such assignment;

(ii)           all
additional costs reimbursements, expense reimbursements and indemnities payable
to such Non-Consenting Lender, and all other accrued and unpaid amounts owing
to such Non-

 26
 

Consenting Lender hereunder, as of the effective date of such
assignment shall have been paid to such Non-Consenting Lender; and

(iii)          with
respect to any such Assuming Lender, the applicable processing and recordation
fee required under Section 8.07(a) for such assignment shall have been paid;

provided
further that such Non-Consenting Lender’s rights under Sections 2.11,
2.14 and 8.04, and its obligations under Section 7.05, shall survive such
substitution as to matters occurring prior to the date of substitution. At
least three Business Days prior to any Extension Date, (A) each such Assuming
Lender, if any, shall have delivered to the Borrower and the Agent an
Assumption Agreement, duly executed by such Assuming Lender, such Non-Consenting
Lender, the Borrower and the Agent and (B) any such Consenting Lender shall
have delivered confirmation in writing satisfactory to the Borrower and the
Agent as to the increase in the amount of its Commitment. Upon the payment or
prepayment of all amounts referred to in clauses (i), (ii) and (iii) of the
immediately preceding sentence, each such Consenting Lender or Assuming Lender,
as of the Extension Date, will be substituted for such Non-Consenting Lender
under this Agreement and shall be a Lender for all purposes of this Agreement,
without any further acknowledgment by or the consent of the other Lenders, and
the obligations of each such Non-Consenting Lender hereunder shall, by the
provisions hereof, be released and discharged. Each Non-Consenting Lender being
replaced pursuant to this Section 2.19 shall deliver to the Agent any Note or
Notes held by such Non-Consenting Lender.

(d)           If (after giving effect to any
assignments or assumptions pursuant to subsection (c) of this Section 2.19)
Lenders having Commitments equal to at least 50% of the Commitments in effect
immediately prior to the Extension Date consent in writing to a requested
extension (whether by execution or delivery of an Assumption Agreement or
otherwise) not later than one Business Day prior to such Extension Date, the
Agent shall so notify the Borrower, and, subject to the satisfaction of the
applicable conditions in Article III, the Termination Date then in effect shall
be extended for the additional one-year period as described in subsection (a)
of this Section 2.19, and all references in this Agreement, and in the Notes,
if any, to the “Termination Date” shall, with respect to each Consenting Lender
and each Assuming Lender for such Extension Date, refer to the Termination Date
as so extended. Promptly following each Extension Date, the Agent shall notify
the Lenders (including, without limitation, each Assuming Lender) of the
extension of the scheduled Termination Date in effect immediately prior thereto
and shall thereupon record in the Register the relevant information with
respect to each such Consenting Lender and each such Assuming Lender.

ARTICLE III

CONDITIONS TO EFFECTIVENESS AND LENDING

SECTION 3.01. Conditions
Precedent to Amendment and Restatement. This amendment and restatement of
the Existing Credit Agreement shall become effective on and as of the first
date (the “Effective Date”) on which the following conditions precedent
have been satisfied:

(a)           There
shall have occurred no Material Adverse Change since December 30, 2006.

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

 27
 

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

(d)           All
governmental and third party consents and approvals necessary in connection
with the transactions contemplated hereby shall have been obtained (without the
imposition of any conditions that are not acceptable to the Lenders) and shall
remain in effect, and no law or regulation shall be applicable in the reasonable
judgment of the Lenders that restrains, prevents or imposes materially adverse
conditions upon the transactions contemplated hereby.

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

(f)            The
Borrower shall have paid all accrued fees and expenses of the Agent and the
Lenders (including the accrued fees and expenses of counsel to the Agent to the
extent invoiced prior to the Effective Date).

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

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

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

(h)           The
Agent shall have received on or before the Effective Date the following, each
dated such day, in form and substance satisfactory to the Agent and (except for
the Revolving Credit Notes) in sufficient copies for each Lender:

(i)            The
Revolving Credit Notes to the order of the Lenders to the extent requested by
any Lender pursuant to Section 2.16.

(ii)           Certified
copies of the resolutions of the Board of Directors of the Borrower approving
this Agreement and the Notes, and of all documents evidencing other necessary
corporate action and governmental approvals, if any, with respect to this
Agreement and the Notes.

(iii)          A
certificate of the Secretary or an Assistant Secretary of the Borrower
certifying the names and true signatures of the officers of the Borrower
authorized to sign this Agreement and the Notes and the other documents to be
delivered hereunder.

(iv)          A
favorable opinion of Susan F. Marrinan, General Counsel of the Borrower, and a
favorable opinion of Foley & Lardner, counsel to the Borrower,
substantially in the form of Exhibit D-1 and Exhibit D-2 hereto, respectively,
and as to such other matters as any Lender through the Agent may reasonably
request.

(v)           A
favorable opinion of Shearman & Sterling LLP, counsel for the Agent, in
form and substance satisfactory to the Agent.

SECTION 3.02. Conditions
Precedent to Each Revolving Credit Borrowing, Commitment Increase and
Commitment Extension. The obligation of each Lender to make a Revolving
Credit Advance on the 

 28
 

occasion of each
Revolving Credit Borrowing and each Commitment Increase pursuant to Section
2.18 and each extension of Commitments pursuant to Section 2.19 shall be
subject to the conditions precedent that the Effective Date shall have occurred
and on the date of such Revolving Credit Borrowing, the applicable Increase
Date or the applicable Extension Date (a) the following statements shall be
true (and each of the giving of the applicable Notice of Revolving Credit
Borrowing, request for Commitment Increase, request for Commitment Extension
and the acceptance by the Borrower of the proceeds of such Revolving Credit
Borrowing shall constitute a representation and warranty by the Borrower that
on the date of such Borrowing, request for Commitment Extension, such Increase
Date or such Extension Date such statements are true):

(i)            the
representations and warranties contained in Section 4.01 (except, in the case
of Revolving Credit Borrowings, the representations set forth in the last
sentence of subsection (e) thereof and in subsection (f)(i) thereof) are
correct on and as of such date, before and after giving effect to such
Revolving Credit Borrowing, such Commitment Increase or such Commitment
Extension and to the application of the proceeds therefrom, as though made on
and as of such date,

(ii)           no
event has occurred and is continuing, or would result from such Revolving
Credit Borrowing, such Commitment Increase or such Commitment Extension or from
the application of the proceeds therefrom, that constitutes a Default, and

(iii)          after
giving effect to such Revolving Credit Borrowing, the aggregate amount of the
Borrower’s Debt (not including other transactions relating to Snap-on Credit
LLC) from any bank or financial institution or under any commercial paper
facility or debt securities or securitization program outstanding will not
exceed $700,000,000 or, if greater, the amount authorized by resolutions of the
Board of Directors in effect on the date of such Revolving Credit Borrowing;

and (b) the Agent shall
have received such other approvals, opinions or documents as any Lender through
the Agent may reasonably request.

SECTION 3.03. Conditions
Precedent to Each Competitive Bid Borrowing. The obligation of each Lender
that is to make a Competitive Bid Advance on the occasion of a Competitive Bid
Borrowing to make such Competitive Bid Advance as part of such Competitive Bid
Borrowing is subject to the conditions precedent that (i) the Agent shall have
received the written confirmatory Notice of Competitive Bid Borrowing with
respect thereto, (ii) on or before the date of such Competitive Bid Borrowing,
but prior to such Competitive Bid Borrowing, the Agent shall have received a
Competitive Bid Note payable to the order of such Lender for each of the one or
more Competitive Bid Advances to be made by such Lender as part of such
Competitive Bid Borrowing, in a principal amount equal to the principal amount
of the Competitive Bid Advance to be evidenced thereby and otherwise on such
terms as were agreed to for such Competitive Bid Advance in accordance with
Section 2.03, and (iii) on the date of such Competitive Bid Borrowing the
following statements shall be true (and each of the giving of the applicable
Notice of Competitive Bid Borrowing and the acceptance by the Borrower of the
proceeds of such Competitive Bid Borrowing shall constitute a representation
and warranty by the Borrower that on the date of such Competitive Bid Borrowing
such statements are true):

(a)           the
representations and warranties contained in Section 4.01 are correct on and as
of the date of such Competitive Bid Borrowing, before and after giving effect
to such Competitive Bid Borrowing and to the application of the proceeds
therefrom, as though made on and as of such date,

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

(c)           no
event has occurred and no circumstance exists as a result of which the
information concerning the Borrower that has been provided to the Agent and
each Lender by the Borrower in connection herewith would include an untrue
statement of a material fact or omit to state any material fact or any fact
necessary to make the statements contained therein, in the light of the
circumstances under which they were made, not misleading, and

 29
 

(d)           after
giving effect to such Competitive Bid Borrowing, the aggregate amount of the
Borrower’s Debt (not including other transactions relating to Snap-on Credit
LLC) from any bank or financial institution or under any commercial paper
facility or debt securities or securitization program outstanding will not
exceed $700,000,000 or, if greater, the amount authorized by resolutions of the
Board of Directors in effect on the date of such Competitive Bid Borrowing.

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

ARTICLE IV

REPRESENTATIONS AND WARRANTIES

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

(a)           The
Borrower is a corporation duly organized, validly existing and in good standing
under the laws of the State of Delaware.

(b)           The
execution, delivery and performance by the Borrower of this Agreement and the
Notes to be delivered by it, and the consummation of the transactions
contemplated hereby, are within the Borrower’s corporate powers, have been duly
authorized by all necessary corporate action, and do not contravene (i) the
Borrower’s charter or by-laws or (ii) law or any contractual restriction
binding on or affecting the Borrower.

(c)           No
authorization or approval or other action by, and no notice to or filing with,
any governmental authority or regulatory body or any other third party is
required as a condition to the due execution, delivery and performance by the
Borrower of this Agreement or the Notes to be delivered by it.

(d)           This
Agreement has been, and each of the Notes to be delivered by it when delivered
hereunder will have been, duly executed and delivered by the Borrower. This
Agreement is, and each of the Notes when delivered hereunder will be, the
legal, valid and binding obligation of the Borrower enforceable against the
Borrower in accordance with their respective terms.

(e)           The
Consolidated balance sheet of the Borrower and its Subsidiaries as at December
30, 2006, and the related Consolidated statements of income and cash flows of
the Borrower and its Subsidiaries for the fiscal year then ended, accompanied
by an opinion of Deloitte & Touche LLP, independent public accountants, and
the Consolidated balance sheet of the Borrower and its Subsidiaries as at March
31, 2007, and the related Consolidated statements of income and cash flows of
the Borrower and its Subsidiaries for the three months then ended, duly
certified by the chief financial officer of the Borrower, copies of which have
been furnished to each Lender, fairly present, subject, in the case of said
balance sheet as at March 31, 2007, and said statements of income and cash
flows for the three months then ended, to the absence of footnotes and to
year-end audit adjustments, the Consolidated financial condition of the
Borrower and its Subsidiaries as at such dates and the Consolidated results of
the operations of the Borrower and its Subsidiaries for the periods ended on
such dates, all in accordance with generally accepted accounting principles
consistently applied. Since December 30, 2006, there has been no Material
Adverse Change.

 30
 

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

(g)           The
Borrower is not engaged in the business of extending credit for the purpose of
purchasing or carrying margin stock (within the meaning of Regulation U issued
by the Board of Governors of the Federal Reserve System), and no proceeds of
any Advance will be used to purchase or carry any margin stock or to extend
credit to others for the purpose of purchasing or carrying any margin stock.

(h)           The
Borrower is not an “investment company”, or a company “controlled” by an “investment
company”, within the meaning of the Investment Company Act of 1940, as amended.

ARTICLE V

COVENANTS OF THE BORROWER

SECTION 5.01. Affirmative
Covenants. So long as any Advance shall remain unpaid or any Lender shall
have any Commitment hereunder, the Borrower will:

(a)           Compliance
with Laws, Etc. Comply, and cause each of its Material Subsidiaries to
comply, with all applicable laws, rules, regulations and orders, such
compliance to include, without limitation, compliance with ERISA and
Environmental Laws the violation of which would have a Material Adverse Effect.

(b)           Payment
of Taxes, Etc. Pay and discharge, and cause each of its Material
Subsidiaries to pay and discharge, before the same shall become delinquent, (i)
all taxes, assessments and governmental charges or levies imposed upon it or
upon its property and (ii) all lawful claims that, if unpaid, would by law
become a Lien upon its property (other than Liens of the type described in
clause (b) of the definition of “Permitted Liens”); provided, however,
that neither the Borrower nor any of its Material Subsidiaries shall be
required to pay or discharge any such tax, assessment, charge or claim that is
being contested in good faith and by proper proceedings and as to which
appropriate reserves are being maintained, unless and until any Lien resulting
therefrom attaches to its property and becomes enforceable against its other
creditors.

(c)           Maintenance
of Insurance. Maintain, and cause each of its Material Subsidiaries to
maintain, insurance with responsible and reputable insurance companies or
associations in such amounts and covering such risks as is usually carried by
companies engaged in similar businesses and owning similar properties in the
same general areas in which the Borrower or such Subsidiary operates; provided,
however, that the Borrower and its Subsidiaries may self-insure to the
same extent as other companies engaged in similar businesses and owning similar
properties in the same general areas in which the Borrower or such Subsidiary
operates and to the extent consistent with prudent business practice.

(d)           Preservation
of Corporate Existence, Etc. Preserve and maintain, and cause each of its
Material Subsidiaries to preserve and maintain, its corporate existence, rights
(charter and statutory) and franchises; provided, however, that
the Borrower and such Subsidiaries may consummate any transaction permitted
under Section 5.02(b) and provided  further that neither the
Borrower nor any of its Material Subsidiaries shall be required to preserve any
right or franchise if the Board of Directors of the Borrower or such Subsidiary
shall determine that the preservation thereof is no longer desirable in the
conduct of the 

 31
 

business of the Borrower or such Subsidiary, as the case may be, and
that the loss thereof is not disadvantageous in any material respect to the
Borrower, such Subsidiary or the Lenders.

(e)           Visitation
Rights. At any reasonable time and from time to time and, so long as no
Default has occurred and is continuing, upon reasonable notice, permit the
Agent or any of the Lenders or any agents or representatives thereof, to
examine and make copies of and abstracts from the records and books of account
of, and visit the properties of, the Borrower and any of its Material
Subsidiaries, and to discuss the affairs, finances and accounts of the Borrower
and any of its Material Subsidiaries with any of their officers or directors
and with their independent certified public accountants.

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

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

(h)           Transactions
with Affiliates. Conduct, and cause each of its Material Subsidiaries to
conduct, all transactions otherwise permitted under this Agreement with any of
their Affiliates other than the Borrower or a wholly-owned Subsidiary of the
Borrower on terms that are fair and reasonable and no less favorable to the
Borrower or such Subsidiary than it would obtain in a comparable arm’s-length
transaction with a Person not an Affiliate, provided that the Borrower and its
Subsidiaries may transact business with Snap-On Credit LLC on a basis
consistent with past practice.

(i)            Reporting
Requirements. Furnish to the Agent:

(i)            as
soon as available and in any event within 60 days after the end of each of the
first three quarters of each fiscal year of the Borrower, the Consolidated
balance sheet of the Borrower and its Subsidiaries as of the end of such
quarter and Consolidated statements of income and cash flows of the Borrower
and its Subsidiaries for the period commencing at the end of the previous
fiscal year and ending with the end of such quarter, duly certified (subject to
the absence of footnotes and to year-end audit adjustments) by the chief
financial officer or treasurer of the Borrower as having been prepared in
accordance with generally accepted accounting principles and certificates of
the chief financial officer or treasurer of the Borrower as to compliance with
the terms of this Agreement and setting forth in reasonable detail the
calculations necessary to demonstrate compliance with Section 5.03, provided
that in the event of any change in GAAP used in the preparation of such
financial statements, the Borrower shall also provide, if necessary for the
determination of compliance with Section 5.03, a statement of reconciliation
conforming such financial statements to GAAP;

(ii)           as
soon as available and in any event within 120 days after the end of each fiscal
year of the Borrower, a copy of the annual audit report for such year for the
Borrower and its Subsidiaries, containing the Consolidated balance sheet of the
Borrower and its Subsidiaries as of the end of such fiscal year and
Consolidated statements of income and cash flows of the Borrower and its
Subsidiaries for such fiscal year, in each case accompanied by an opinion
acceptable to the Required Lenders by Deloitte & Touche LLP or other
independent public accountants acceptable to the Required Lenders and certificates
of the chief financial officer or treasurer of the Borrower as to compliance
with the terms of this Agreement and setting forth in reasonable detail the
calculations necessary to demonstrate compliance with Section 5.03, provided
that in the event of any change in GAAP used in the preparation of such
financial statements, the Borrower shall also provide, if necessary for the
determination of compliance with Section 5.03, a statement of reconciliation
conforming such financial statements to GAAP;

 32
 

(iii)          as
soon as possible and in any event within five Business Days after an executive
officer of the Borrower knows or should have known of the occurrence of each
Default continuing on the date of such statement, a statement of the chief
financial officer or treasurer of the Borrower setting forth details of such
Default and the action that the Borrower has taken and proposes to take with
respect thereto;

(iv)          promptly
after the sending or filing thereof, copies of all reports that the Borrower
sends to any of its securityholders as such, and copies of all reports on Forms
10-K, 10-Q and 8-K (or their equivalents) and registration statements (other
than the exhibits thereto) that the Borrower or any Subsidiary files with the
Securities and Exchange Commission or any national securities exchange;

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

(vi)          promptly
after the adoption thereof, notice of the increased amount of the Borrower’s
Debt (not including other transactions relating to Snap-on Credit LLC) from any
bank or financial institution or under any commercial paper facility or debt
securities or securitization program authorized to be outstanding, together
with certified copies of the resolutions of the Board of Directors of the
Borrower approving such increase; and

(vii)         such
other information respecting the Borrower or any of its Subsidiaries as any
Lender through the Agent may from time to time reasonably request.

SECTION 5.02. Negative
Covenants. So long as any Advance shall remain unpaid or any Lender shall
have any Commitment hereunder, the Borrower will not:

(a)           Liens,
Etc. Create or suffer to exist, or permit any of its Material Subsidiaries
to create or suffer to exist, any Lien on or with respect to any of its
properties, whether now owned or hereafter acquired, or assign for security
purposes, or permit any of its Material Subsidiaries to assign for security
purposes, any right to receive income, other than:

(i)            Permitted
Liens,

(ii)           purchase
money Liens upon or in any real property or equipment acquired or held by the
Borrower or any Material Subsidiary in the ordinary course of business to
secure the purchase price of such property or equipment or to secure Debt
incurred solely for the purpose of financing the acquisition of such property
or equipment, or Liens existing on such property or equipment at the time of
its acquisition (other than any such Liens created in contemplation of such
acquisition that were not incurred to finance the acquisition of such property)
or extensions, renewals or replacements of any of the foregoing for the same or
a lesser amount, provided, however, that no such Lien shall
extend to or cover any properties of any character other than the real property
or equipment being acquired (and related property), and no such extension,
renewal or replacement shall extend to or cover any properties not theretofore
subject to the Lien being extended, renewed or replaced, provided  further
that the aggregate principal amount of the indebtedness secured by the Liens
referred to in this clause (ii) shall not exceed $50,000,000,

(iii)          the
Liens existing on the Effective Date and described on Schedule 5.02(a) hereto,

(iv)          Liens
on (or assignments of) property of a Person existing at the time such Person is
merged into or consolidated with the Borrower or any Material Subsidiary of the
Borrower or becomes a Material Subsidiary of the Borrower; provided that
such Liens or

 33

assignments were not created in contemplation of such merger,
consolidation or acquisition and do not extend to any assets other than those
of the Person so merged into or consolidated with the Borrower or such
Subsidiary or acquired by the Borrower or such Subsidiary,

(v)           other
Liens or assignments securing Debt and other obligations in an aggregate
principal amount not to exceed $50,000,000 at any time outstanding,

(vi)          Liens
or assignments arising in connection with a Permitted Receivables Financing,

(vii)         the
replacement, extension or renewal of any Lien or assignment permitted by clause
(iii) or (iv) above upon or in the same property theretofore subject thereto or
the replacement, extension or renewal (without increase in the amount or change
in any direct or contingent obligor) of the Debt or other obligation secured
thereby, and

(viii)        Liens
on proceeds of any of the assets permitted to be the subject of any Lien or
assignment permitted by this Section 5.02(a).

(b)           Mergers, Etc. Merge or
consolidate with or into, or convey, transfer, lease or otherwise dispose of
(whether in one transaction or in a series of related transactions) all or
substantially all of its assets (whether now owned or hereafter acquired) to,
any Person, or permit any of its Material Subsidiaries to do so, except that
(i) any Material Subsidiary of the Borrower may merge or consolidate with or
into, or transfer, convey or dispose of assets to, any other Subsidiary of the
Borrower, (ii) any Material Subsidiary of the Borrower may merge into or
transfer, convey or dispose of assets to the Borrower and (iii) the Borrower
may merge into a wholly owned Subsidiary of the Borrower that has no material
assets or liabilities for the sole purpose of changing the state of
incorporation of the Borrower if the surviving corporation shall expressly
assume the liabilities of the Borrower under this Agreement and the Notes, provided,
in each case, that no Default shall have occurred and be continuing at the time
of such proposed transaction or would result therefrom and provided, further,
that the foregoing shall not restrict the Borrower or its Material Subsidiaries
in respect of dispositions of inventory, cash or obsolete, used or surplus
equipment in the ordinary course of business or in respect of any Permitted
Receivables Financing.

(c)           Accounting Changes. Make or
permit, or permit any of its Material Subsidiaries to make or permit, any
change in accounting policies or reporting practices, except as required or
permitted by generally accepted accounting principles.

(d)           Change in Nature of Business.
Make, or permit any of its Material Subsidiaries to make, any material change
in the nature of the business of the Borrower and its Subsidiaries taken as a
whole as carried on at the date hereof.

SECTION 5.03. Financial
Covenant. So long as any Advance shall remain unpaid or any Lender shall
have any Commitment hereunder, the Borrower will either:

(a)           Leverage Ratio. Maintain, as
at the end of each fiscal quarter, a ratio of Consolidated Debt to the sum of
Consolidated Debt plus shareholders’ equity of not greater than 0.60 to 1.00;
or

(b)           Interest Coverage Ratio.
Maintain, as at the end of each fiscal quarter, a ratio of Consolidated Debt to
EBITDA for the four fiscal quarters then ended of not less than 3.50 to 1.00.

 34
 

ARTICLE VI

EVENTS OF DEFAULT

SECTION 6.01. Events
of Default. If any of the following events (“Events of Default”)
shall occur and be continuing:

(a)           The Borrower shall fail to pay any
principal of any Advance when the same becomes due and payable; or the Borrower
shall fail to pay any interest on any Advance or make any other payment of fees
or other amounts payable under this Agreement or any Note within three Business
Days after the same becomes due and payable; or

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

(c)           (i) The Borrower shall fail to
perform or observe any term, covenant or agreement contained in Section
5.01(d), (e) or (i), 5.02 or 5.03, or (ii) the Borrower shall fail to perform
or observe any other term, covenant or agreement contained in this Agreement on
its part to be performed or observed if such failure shall remain unremedied
for 30 days after written notice thereof shall have been given to the Borrower
by the Agent or any Lender; or

(d)           The Borrower or any of its
Subsidiaries shall fail to pay any principal of or premium or interest on any
Debt (other than Debt owed to the Borrowers or any of its Subsidiaries) that is
outstanding in a principal or net amount of at least $50,000,000 in the
aggregate (but excluding Debt outstanding hereunder) of the Borrower or such
Subsidiary (as the case may be), when the same becomes due and payable (whether
by scheduled maturity, required prepayment, acceleration, demand or otherwise),
and such failure shall continue after the applicable grace period, if any,
specified in the agreement or instrument relating to such Debt; or any other
event shall occur or condition shall exist under any agreement or instrument
relating to any such Debt and shall continue after the applicable grace period,
if any, specified in such agreement or instrument, if the effect of such event
or condition is to accelerate, or to permit the acceleration of, the maturity
of such Debt; or any such Debt shall be declared to be due and payable, or
required to be prepaid or redeemed (other than by a regularly scheduled
required prepayment or redemption), purchased or defeased, or an offer to
prepay, redeem, purchase or defease such Debt shall be required to be made, in
each case prior to the stated maturity thereof; or

(e)           The Borrower or any of its Material
Subsidiaries shall generally not pay its debts as such debts become due, or
shall admit in writing its inability to pay its debts generally, or shall make
a general assignment for the benefit of creditors; or any proceeding shall be
instituted by or against the Borrower or any of its Material Subsidiaries seeking
to adjudicate it a bankrupt or insolvent, or seeking liquidation, winding up,
reorganization, arrangement, adjustment, protection, relief, or composition of
it or its debts under any law relating to bankruptcy, insolvency or
reorganization or relief of debtors, or seeking the entry of an order for
relief or the appointment of a receiver, trustee, custodian or other similar
official for it or for any substantial part of its property and, in the case of
any such proceeding instituted against it (but not instituted by it), either
such proceeding shall remain undismissed for a period of 60 days, or any of the
actions sought in such proceeding (including, without limitation, the entry of
an order for relief against, or the appointment of a receiver, trustee,
custodian or other similar official for, it or for any substantial part of its
property) shall occur; or the Borrower or any of its Material Subsidiaries
shall take any corporate action to authorize any of the actions set forth above
in this subsection (e); or

(f)            Judgments or orders for the payment
of money in excess of $50,000,000 in the aggregate shall be rendered against
the Borrower or any of its Material Subsidiaries with respect to which (i)
enforcement proceedings shall have been commenced by any creditor upon such
judgments or orders or (ii) there shall be any period of 10 consecutive days
during which a stay of enforcement of such judgments or orders, by reason of a
pending appeal or otherwise, shall not be in effect; provided, however,
that any such judgment or order shall not be an Event of Default or included in
the calculation of the aggregate amount of judgments or orders under this
Section 6.01(f) if and for so long as (i) the amount of such judgment or order
is covered by a valid and binding policy of insurance between the defendant and
the 

 35
 

insurer covering payment thereof and (ii) such
insurer, which shall be rated at least “A” by A.M. Best Company, has been
notified of, and has not disputed the claim made for payment of, the amount of such
judgment or order; or

(g)           Any non-monetary judgment or order
shall be rendered against the Borrower or any of its Subsidiaries that would be
reasonably expected to have a Material Adverse Effect, and there shall be any
period of 10 consecutive days during which a stay of enforcement of such
judgment or order, by reason of a pending appeal or otherwise, shall not be in
effect; or

(h)           (i) Any Person or two or more Persons
acting in concert (other than any Related Person) shall have acquired
beneficial ownership (within the meaning of Rule 13d-3 of the Securities and
Exchange Commission under the Securities Exchange Act of 1934), directly or
indirectly, of Voting Stock of the Borrower (or other securities convertible
into such Voting Stock) representing 30% or more of the combined voting power
of all Voting Stock of the Borrower; or (ii) during any period of up to 12
consecutive calendar months, commencing after the date of this Agreement,
individuals who at the beginning of such 12-month period were directors of the
Borrower shall cease for any reason to constitute a majority of the board of
directors of the Borrower (except to the extent that individuals who at the
beginning of such 12-month period were replaced by individuals (x) elected by a
majority of the remaining members of the board of directors of the Borrower or
(y) nominated for election by a majority of the remaining members of the board
of directors of the Borrower and thereafter elected as directors by the
shareholders of the Borrower); or

(i)            The Borrower or any of its ERISA
Affiliates shall incur, or shall be reasonably likely to incur liability in
excess of $50,000,000 in the aggregate as a result of one or more of the
following: (i) the occurrence of any ERISA Event; (ii) the partial or complete
withdrawal of the Borrower or any of its ERISA Affiliates from a Multiemployer
Plan; or (iii) the reorganization or termination of a Multiemployer Plan;

then, and in any such
event, the Agent (i) shall at the request, or may with the consent, of the Required
Lenders, by notice to the Borrower, declare the obligation of each Lender to
make Advances to be terminated, whereupon the same shall forthwith terminate,
and (ii) shall at the request, or may with the consent, of the Required
Lenders, by notice to the Borrower, declare the Advances, all interest thereon
and all other amounts payable under this Agreement to be forthwith due and
payable, whereupon the Advances, all such interest and all such amounts shall
become and be forthwith due and payable, without presentment, demand, protest
or further notice of any kind, all of which are hereby expressly waived by the
Borrower; provided, however, that in the event of an actual or
deemed entry of an order for relief with respect to the Borrower under the
Federal Bankruptcy Code, (A) the obligation of each Lender to make Advances
shall automatically be terminated and (B) the Advances, all such interest and
all such amounts shall automatically become and be due and payable, without
presentment, demand, protest or any notice of any kind, all of which are hereby
expressly waived by the Borrower.

ARTICLE VII

THE AGENT

SECTION 7.01. Authorization
and Action. Each Lender hereby appoints and authorizes the Agent to take
such action as agent on its behalf and to exercise such powers and discretion
under this Agreement as are delegated to the Agent by the terms hereof,
together with such powers and discretion as are reasonably incidental thereto.
As to any matters not expressly provided for by this Agreement (including, without
limitation, enforcement or collection of the Notes), the Agent shall not be
required to exercise any discretion or take any action, but shall be required
to act or to refrain from acting (and shall be fully protected in so acting or
refraining from acting) upon the instructions of the Required Lenders, and such
instructions shall be binding upon all Lenders and all holders of Notes; provided,
however, that the Agent shall not be required to take any action that
exposes the Agent to personal liability or that is contrary to this Agreement
or applicable law. The Agent agrees to give to each Lender prompt notice of
each notice given to it by the Borrower pursuant to the terms of this
Agreement.

 36
 

SECTION 7.02. Agent’s
Reliance, Etc. Neither the Agent nor any of its directors, officers, agents
or employees shall be liable for any action taken or omitted to be taken by it
or them under or in connection with this Agreement, except for its or their own
gross negligence or willful misconduct. Without limitation of the generality of
the foregoing, the Agent: (i) may treat the Lender that made any Advance as the
holder of the Debt resulting therefrom until the Agent receives and accepts an
Assumption Agreement entered into by an Assuming Lender as provided in Section
2.18 or 2.19, as the case may be, or an Assignment and Acceptance entered into
by such Lender, as assignor, and an Eligible Assignee, as assignee, as provided
in Section 8.07; (ii) may consult with legal counsel (including counsel for the
Borrower), independent public accountants and other experts selected by it and
shall not be liable for any action taken or omitted to be taken in good faith
by it in accordance with the advice of such counsel, accountants or experts;
(iii) makes no warranty or representation to any Lender and shall not be
responsible to any Lender for any statements, warranties or representations
(whether written or oral) made in or in connection with this Agreement; (iv)
shall not have any duty to ascertain or to inquire as to the performance or
observance of any of the terms, covenants or conditions of this Agreement on
the part of the Borrower or to inspect the property (including the books and
records) of the Borrower; (v) shall not be responsible to any Lender for the
due execution, legality, validity, enforceability, genuineness, sufficiency or
value of this Agreement or any other instrument or document furnished pursuant
hereto; and (vi) shall incur no liability under or in respect of this Agreement
by acting upon any notice, consent, certificate or other instrument or writing
(which may be by telecopier or telegram) believed by it to be genuine and
signed or sent by the proper party or parties.

SECTION 7.03. JPMCB
and Affiliates. With respect to its Commitment, the Advances made by it and
the Note issued to it, JPMCB shall have the same rights and powers under this
Agreement as any other Lender and may exercise the same as though it were not
the Agent; and the term “Lender” or “Lenders” shall, unless otherwise expressly
indicated, include JPMCB in its individual capacity. JPMCB and its Affiliates
may accept deposits from, lend money to, act as trustee under indentures of,
accept investment banking engagements from and generally engage in any kind of
business with, the Borrower, any of its Subsidiaries and any Person who may do
business with or own securities of the Borrower or any such Subsidiary, all as
if JPMCB were not the Agent and without any duty to account therefor to the
Lenders.

SECTION 7.04. Lender
Credit Decision. Each Lender acknowledges that it has, independently and
without reliance upon the Agent or any other Lender and based on the financial
statements referred to in Section 4.01 and such other documents and information
as it has deemed appropriate, made its own credit analysis and decision to
enter into this Agreement. Each Lender also acknowledges that it will,
independently and without reliance upon the Agent or any other Lender and based
on such documents and information as it shall deem appropriate at the time,
continue to make its own credit decisions in taking or not taking action under
this Agreement.

SECTION 7.05. Indemnification.
The Lenders agree to indemnify the Agent (to the extent not reimbursed by the
Borrower), ratably according to the respective principal amounts of the
Revolving Credit Advances then owed to each of them (or if no Revolving Credit
Advances are at the time outstanding, ratably according to the respective
amounts of their Commitments), from and against any and all liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs,
expenses or disbursements of any kind or nature whatsoever that may be imposed
on, incurred by, or asserted against the Agent in any way relating to or
arising out of this Agreement or any action taken or omitted by the Agent under
this Agreement (collectively, the “Indemnified Costs”), provided
that no Lender shall be liable for any portion of the Indemnified Costs
resulting from the Agent’s gross negligence or willful misconduct. Without
limitation of the foregoing, each Lender agrees to reimburse the Agent promptly
upon demand for its ratable share of any out-of-pocket expenses (including
reasonable counsel fees) incurred by the Agent in connection with the
preparation, execution, delivery, administration, modification, amendment or
enforcement (whether through negotiations, legal proceedings or otherwise) of,
or legal advice in respect of rights or responsibilities under, this Agreement,
to the extent that the Agent is not reimbursed for such expenses by the
Borrower. In the case of any investigation, litigation or proceeding giving
rise to any Indemnified Costs, this Section 7.05 applies whether any such
investigation, litigation or proceeding is brought by the Agent, any Lender or
a third party.

SECTION 7.06. Successor
Agent. The Agent may resign at any time by giving written notice thereof to
the Lenders and the Borrower and may be removed at any time with or without
cause by the Required Lenders. Upon any such resignation or removal, the
Required Lenders shall have the right to appoint a successor 

 37
 

Agent with the consent,
not to be unreasonably withheld or delayed, of the Borrower so long as no
Default has occurred and is continuing. If no successor Agent shall have been
so appointed by the Required Lenders, and shall have accepted such appointment,
within 30 days after the retiring Agent’s giving of notice of resignation or
the Required Lenders’ removal of the retiring Agent, then the retiring Agent
may, on behalf of the Lenders and with the consent, not to be unreasonably
withheld or delayed, of the Borrower so long as no Default has occurred and is
continuing, appoint a successor Agent, which shall be a commercial bank
organized under the laws of the United States of America or of any State thereof
and having a combined capital and surplus of at least $500,000,000. Upon the
acceptance of any appointment as Agent hereunder by a successor Agent, such
successor Agent shall thereupon succeed to and become vested with all the
rights, powers, discretion, privileges and duties of the retiring Agent, and
the retiring Agent shall be discharged from its duties and obligations under
this Agreement. After any retiring Agent’s resignation or removal hereunder as
Agent, the provisions of this Article VII shall inure to its benefit as to any
actions taken or omitted to be taken by it while it was Agent under this
Agreement.

SECTION 7.07. Other
Agents. Each Lender hereby acknowledges that neither the syndication agent
nor any other Lender designated as any “Co-Agent” on the signature pages hereof
has any liability hereunder other than in its capacity as a Lender.

ARTICLE VIII

MISCELLANEOUS

SECTION 8.01. Amendments,
Etc. No amendment or waiver of any provision of this Agreement or the
Revolving Credit Notes, nor consent to any departure by the Borrower therefrom,
shall in any event be effective unless the same shall be in writing and signed
by the Required Lenders, and then such waiver or consent shall be effective
only in the specific instance and for the specific purpose for which given; provided,
however, that no amendment, waiver or consent shall, unless in writing
and signed by all the Lenders, do any of the following: (a) waive any of the
conditions specified in Section 3.01, (b) other than in accordance with Section
2.18, increase the Commitments of the Lenders or subject the Lenders to any
additional obligations, (c) reduce the principal of, or interest on, the
Revolving Credit Advances or any fees or other amounts payable hereunder, (d)
other than in accordance with Section 2.19, postpone any date fixed for any
payment of principal of, or interest on, the Revolving Credit Advances or any
fees or other amounts payable hereunder, (e) change the percentage of the
Commitments or of the aggregate unpaid principal amount of the Revolving Credit
Advances, or the number of Lenders, that shall be required for the Lenders or
any of them to take any action hereunder or (f) amend this Section 8.01; and provided
further that no amendment, waiver or consent shall, unless in writing
and signed by the Agent in addition to the Lenders required above to take such
action, affect the rights or duties of the Agent under this Agreement or any
Note.

SECTION 8.02. Notices,
Etc. (a) All notices and other communications provided for hereunder shall
be (x) in writing (including telecopier or telegraphic communication) and sent
by reputable overnight courier, telecopied, telegraphed or delivered or (y) as
and to the extent set forth in Section 8.02(b) and in the proviso to this
Section 8.02(a), if to the Borrower, at its address at 10801 Corporate Drive,
Pleasant Prairie, Wisconsin 53158, Attention: Martin M. Ellen, Senior Vice
President and Chief Financial Officer, and Jeffrey F. Kostrzewa, Director
Treasury Operations and Finance, with copies to 10801 Corporate Drive, Pleasant
Prairie, Wisconsin 53158, Attention: Susan F. Marrinan, General Counsel]; if to
any Initial Lender, at its Domestic Lending Office specified opposite its name
on Schedule I hereto; if to any other Lender, at its Domestic Lending Office
specified in the Assumption Agreement or the Assignment and Acceptance pursuant
to which it became a Lender; and if to the Agent, at its address at JPMorgan
Loan Services, JPMorgan Chase Bank, 10 South Dearborn, 7th Floor, Chicago, IL 60603, Tel: 312-385-7090,
Fax: 312-385-7097, email: edna.guerra@jpmchase.com, Attention: Edna Guerra; or,
as to the Borrower or the Agent, at such other address as shall be designated
by such party in a written notice to the other parties and, as to each other
party, at such other address as shall be designated by such party in a written
notice to the Borrower and the Agent, provided that materials required
to be delivered pursuant to Section 5.01(i)(i), (ii) or (iv) shall be delivered
to the Agent as specified in Section 8.02(b) or as otherwise specified to the
Borrower by the Agent. All such notices and communications shall, when mailed,
telecopied, telegraphed or e-mailed, be effective when deposited in the mails,
telecopied, delivered to the telegraph company or confirmed by e-mail,
respectively, except that notices and communications to the Agent pursuant to
Article II, III or VII shall not be effective until received by the Agent.
Delivery by telecopier of an executed counterpart of any amendment or waiver of
any 

 38
 

provision of this
Agreement or the Notes or of any Exhibit hereto to be executed and delivered
hereunder shall be effective as delivery of a manually executed counterpart
thereof.

(b)           So long as JPMCB or any of its
Affiliates is the Agent, notwithstanding anything to the contrary herein,
materials required to be delivered pursuant to Section 5.01(i)(i), (ii) and
(iv) shall be delivered to the Agent in an electronic medium in a format
acceptable to the Agent and the Lenders by e-mail at large.corporate.agency@jpmchase.com.
The Borrower agrees that the Agent may make such materials, as well as any
other written information, documents, instruments and other material relating
to the Borrower, any of its Subsidiaries or any other materials or matters relating
to this Agreement, the Notes or any of the transactions contemplated hereby
(collectively, the “Communications”) available to the Lenders by posting
such Communications on Intralinks or a substantially similar electronic system
(the “Platform”). The Borrower acknowledges that (i) the distribution of
material through an electronic medium is not necessarily secure and that there
are confidentiality and other risks associated with such distribution, (ii) the
Platform is provided “as is” and “as available” and (iii) neither the Agent nor
any of its Affiliates warrants the accuracy, adequacy or completeness of the
Communications or the Platform and each expressly disclaims liability for
errors or omissions in the Communications or the Platform. No warranty of any
kind, express, implied or statutory, including, without limitation, any
warranty of merchantability, fitness for a particular purpose, non-infringement
of third party rights or freedom from viruses or other code defects, is made by
the Agent or any of its Affiliates in connection with the Platform.

(c)           Each
Lender agrees that any notice to it (as provided in the next sentence) (a “Notice”)
specifying that any Communications have been posted to the Platform shall
constitute effective delivery of such information, documents or other materials
to such Lender for purposes of this Agreement; provided that if
requested by any Lender the Agent shall deliver a copy of the Communications to
such Lender by email or telecopier. Each Lender agrees (i) to notify the Agent
in writing of such Lender’s e-mail address to which a Notice may be sent by
electronic transmission (including by electronic communication) on or before
the date such Lender becomes a party to this Agreement (and from time to time
thereafter to ensure that the Agent has on record an effective e-mail address
for such Lender) and (ii) that any Notice may be sent to such e-mail address.

SECTION 8.03. No
Waiver; Remedies. No failure on the part of any Lender or the Agent to
exercise, and no delay in exercising, any right hereunder or under any Note
shall operate as a waiver thereof; nor shall any single or partial exercise of
any such right preclude any other or further exercise thereof or the exercise
of any other right. The remedies herein provided are cumulative and not
exclusive of any remedies provided by law.

SECTION 8.04. Costs
and Expenses. (a) The Borrower agrees to pay promptly (and in any event
within 10 days) after demand all costs and expenses of the Agent in connection
with the preparation, execution, delivery, administration, modification and
amendment of this Agreement, the Notes and the other documents to be delivered
hereunder, including, without limitation, (A) all due diligence, syndication
(including printing, distribution and bank meetings), transportation, computer,
duplication, appraisal, consultant, and audit expenses and (B) the reasonable
fees and expenses of counsel for the Agent with respect thereto and with
respect to advising the Agent as to its rights and responsibilities under this
Agreement. The Borrower further agrees to pay on demand all costs and expenses
of the Agent and the Lenders, if any (including, without limitation, reasonable
counsel fees and expenses), in connection with the enforcement (whether through
negotiations, legal proceedings or otherwise) of this Agreement, the Notes and
the other documents to be delivered hereunder, including, without limitation,
reasonable fees and expenses of counsel for the Agent and each Lender in
connection with the enforcement of rights under this Section 8.04(a).

(b)           The Borrower agrees to indemnify and
hold harmless the Agent and each Lender and each of their Affiliates and their
officers, directors, employees, agents and advisors (each, an “Indemnified
Party”) from and against any and all claims, damages, losses, liabilities
and expenses (including, without limitation, reasonable fees and expenses of
counsel) incurred by or asserted or awarded against any Indemnified Party, in
each case arising out of or in connection with or by reason of (including,
without limitation, in connection with any investigation, litigation or
proceeding or preparation of a defense in connection therewith) (i) the Notes,
this Agreement, any of the transactions contemplated herein or the actual or proposed
use of the proceeds of the Advances or (ii) the actual or alleged presence of
Hazardous Materials on any property of the Borrower or any of its Subsidiaries,
except to the extent (x) such claim, damage, loss, liability or expense
resulted from such Indemnified 

 39
 

Party’s gross negligence
or willful misconduct, (y) such claim, damage, loss, liability or expense
arises from a litigation or proceeding among Lenders or (z) except to the
extent payable under Section 8.04(a), such claim, damage loss, liability or
expense arises in connection with the preparation, execution, delivery,
administration, modification or amendment of this Agreement. In the case of an
investigation, litigation or other proceeding to which the indemnity in this
Section 8.04(b) applies, such indemnity shall be effective whether or not such
investigation, litigation or proceeding is brought by the Borrower, its
directors, shareholders or creditors or an Indemnified Party or any other
Person or any Indemnified Party is otherwise a party thereto and whether or not
the transactions contemplated hereby are consummated. The Borrower also agrees
not to assert any claim for special, indirect, consequential or punitive
damages against the Agent, any Lender, any of their Affiliates, or any of their
respective directors, officers, employees, attorneys and agents, on any theory
of liability, arising out of or otherwise relating to the Notes, this
Agreement, any of the transactions contemplated herein or the actual or
proposed use of the proceeds of the Advances.

(c)           If any payment of principal of, or
Conversion of, any Eurocurrency Rate Advance, LIBO Rate Advance or Local Rate
Advance is made by the Borrower to or for the account of a Lender other than on
the last day of the Interest Period for such Advance, as a result of a payment
or Conversion pursuant to Section 2.08(d) or (e), 2.10 or 2.12, acceleration of
the maturity of the Notes pursuant to Section 6.01 or for any other reason, or
by an Eligible Assignee to a Lender other than on the last day of the Interest
Period for such Advance upon an assignment of rights and obligations under this
Agreement pursuant to Section 8.07 as a result of a demand by the Borrower
pursuant to Section 8.07(a), the Borrower shall, upon demand by such Lender
(with a copy of such demand to the Agent), pay to the Agent for the account of
such Lender any amounts required to compensate such Lender for any additional
losses, costs or expenses that it may reasonably incur as a result of such
payment or Conversion, including, without limitation, any loss (including loss
of anticipated profits), cost or expense incurred by reason of the liquidation
or reemployment of deposits or other funds acquired by any Lender to fund or
maintain such Advance.

(d)           Without prejudice to the survival of
any other agreement of the Borrower hereunder, the agreements and obligations
of the Borrower contained in Sections 2.11, 2.14 and 8.04 shall survive the
payment in full of principal, interest and all other amounts payable hereunder
and under the Notes.

SECTION 8.05. Right
of Set-off. Upon (i) the occurrence and during the continuance of any Event
of Default and (ii) the making of the request or the granting of the consent
specified by Section 6.01 to authorize the Agent to declare the Notes due and
payable pursuant to the provisions of Section 6.01, each Lender and each of its
Affiliates is hereby authorized at any time and from time to time, to the
fullest extent permitted by law, to set off and apply any and all deposits
(general or special, time or demand, provisional or final) at any time held and
other indebtedness at any time owing by such Lender or such Affiliate (but not
including any insurance premiums) to or for the credit or the account of the
Borrower against any and all of the obligations of the Borrower now or
hereafter existing under this Agreement and the Note held by such Lender,
whether or not such Lender shall have made any demand under this Agreement or
such Note and although such obligations may be unmatured. Each Lender agrees promptly
to notify the Borrower after any such set-off and application, provided
that the failure to give such notice shall not affect the validity of such
set-off and application. The rights of each Lender and its Affiliates under
this Section are in addition to other rights and remedies (including, without
limitation, other rights of set-off) that such Lender and its Affiliates may
have.

SECTION 8.06. Binding
Effect. This Agreement shall become effective upon satisfaction of the
conditions precedent set forth in Section 3.01 and when it shall have been
executed by the Borrower and the Agent and when the Agent shall have been
notified by each Initial Lender that such Initial Lender has executed it and
thereafter shall be binding upon and inure to the benefit of the Borrower, the
Agent and each Lender and their respective successors and assigns, except that
the Borrower shall not have the right to assign its rights hereunder or any
interest herein without the prior written consent of the Lenders.

SECTION 8.07. Assignments
and Participations. (a) Each Lender may and, if demanded by the Borrower
(so long as no Default shall have occurred and be continuing and following a
demand by such Lender pursuant to Section 2.11 or 2.14 or a notice given by
such Lender pursuant to Section 2.12) upon at least five Business Days’ notice
to such Lender and the Agent, will assign to one or more Persons all or a
portion of its rights and obligations under this Agreement (including, without
limitation, all or a portion of its Commitment, the 

 40
 

Revolving Credit Advances
owing to it and the Revolving Credit Note or Notes held by it); provided,
however, that (i) each such assignment shall be of a constant, and not a
varying, percentage of all rights and obligations under this Agreement (other
than any right to make Competitive Bid Advances, Competitive Bid Advances owing
to it and Competitive Bid Notes), (ii) except in the case of an assignment to a
Person that, immediately prior to such assignment, was a Lender or an
assignment of all of a Lender’s rights and obligations under this Agreement,
the amount of the Commitment of the assigning Lender being assigned pursuant to
each such assignment (determined as of the date of the Assignment and
Acceptance with respect to such assignment) shall in no event be less than
$10,000,000 or an integral multiple of $1,000,000 in excess thereof, (iii) each
such assignment shall be to an Eligible Assignee, (iv) each such assignment
made as a result of a demand by the Borrower pursuant to this Section 8.07(a)
shall be arranged by the Borrower after consultation with the Agent and shall
be either an assignment of all of the rights and obligations of the assigning
Lender under this Agreement or an assignment of a portion of such rights and
obligations made concurrently with another such assignment or other such
assignments that together cover all of the rights and obligations of the
assigning Lender under this Agreement, (v) no Lender shall be obligated to make
any such assignment as a result of a demand by the Borrower pursuant to this
Section 8.07(a) unless and until such Lender shall have received one or more
payments from either the Borrower or one or more Eligible Assignees in an
aggregate amount at least equal to the aggregate outstanding principal amount
of the Advances owing to such Lender, together with accrued interest thereon to
the date of payment of such principal amount and all other amounts payable to
such Lender under this Agreement, and (vi) the parties to each such assignment
shall execute and deliver to the Agent, for its acceptance and recording in the
Register, an Assignment and Acceptance, together with any Revolving Credit Note
subject to such assignment and a processing and recordation fee of $3,500. Upon
such execution, delivery, acceptance and recording, from and after the
effective date specified in each Assignment and Acceptance, (x) the assignee
thereunder shall be a party hereto and, to the extent that rights and
obligations hereunder have been assigned to it pursuant to such Assignment and
Acceptance, have the rights and obligations of a Lender hereunder and (y) the
Lender assignor thereunder shall, to the extent that rights and obligations
hereunder have been assigned by it pursuant to such Assignment and Acceptance,
relinquish its rights and be released from its obligations under this Agreement
(and, in the case of an Assignment and Acceptance covering all or the remaining
portion of an assigning Lender’s rights and obligations under this Agreement,
such Lender shall cease to be a party hereto).

(b)           By executing and delivering an
Assignment and Acceptance, the Lender assignor thereunder and the assignee
thereunder confirm to and agree with each other and the other parties hereto as
follows: (i) other than as provided in such Assignment and Acceptance, such
assigning Lender makes no representation or warranty and assumes no
responsibility with respect to any statements, warranties or representations
made in or in connection with this Agreement or the execution, legality,
validity, enforceability, genuineness, sufficiency or value of this Agreement
or any other instrument or document furnished pursuant hereto; (ii) such
assigning Lender makes no representation or warranty and assumes no
responsibility with respect to the financial condition of the Borrower or the
performance or observance by the Borrower of any of its obligations under this
Agreement or any other instrument or document furnished pursuant hereto; (iii)
such assignee confirms that it has received a copy of this Agreement, together
with copies of the financial statements referred to in Section 4.01 and such
other documents and information as it has deemed appropriate to make its own
credit analysis and decision to enter into such Assignment and Acceptance; (iv)
such assignee will, independently and without reliance upon the Agent, such
assigning Lender or any other Lender and based on such documents and
information as it shall deem appropriate at the time, continue to make its own
credit decisions in taking or not taking action under this Agreement; (v) such
assignee confirms that it is an Eligible Assignee; (vi) such assignee appoints
and authorizes the Agent to take such action as agent on its behalf and to
exercise such powers and discretion under this Agreement as are delegated to
the Agent by the terms hereof, together with such powers and discretion as are
reasonably incidental thereto; and (vii) such assignee agrees that it will
perform in accordance with their terms all of the obligations that by the terms
of this Agreement are required to be performed by it as a Lender.

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

 41
 

(d)           The Agent shall maintain at its
address referred to in Section 8.02 a copy of each Assumption Agreement and
each Assignment and Acceptance delivered to and accepted by it and a register
for the recordation of the names and addresses of the Lenders and the
Commitment of, and principal amount of the Advances owing to, each Lender from
time to time (the “Register”). The entries in the Register shall be
conclusive and binding for all purposes, absent manifest error, and the
Borrower, the Agent and the Lenders may treat each Person whose name is
recorded in the Register as a Lender hereunder for all purposes of this
Agreement. The Register shall be available for inspection by the Borrower or
any Lender at any reasonable time and from time to time upon reasonable prior
notice.

(e)           Each Lender may sell participations
to one or more banks or other entities (other than the Borrower or any of its
Affiliates) in or to all or a portion of its rights and obligations under this
Agreement (including, without limitation, all or a portion of its Commitment,
the Advances owing to it and any Note or Notes held by it); provided, however,
that (i) such Lender’s obligations under this Agreement (including, without
limitation, its Commitment to the Borrower hereunder) shall remain unchanged,
(ii) such Lender shall remain solely responsible to the other parties hereto
for the performance of such obligations, (iii) such Lender shall remain the
holder of any such Note for all purposes of this Agreement, (iv) the Borrower,
the Agent and the other Lenders shall continue to deal solely and directly with
such Lender in connection with such Lender’s rights and obligations under this
Agreement and (v) no participant under any such participation shall have any
right to approve any amendment or waiver of any provision of this Agreement or
any Note, or any consent to any departure by the Borrower therefrom, except to
the extent that such amendment, waiver or consent would reduce the principal of,
or interest on, the Notes or any fees or other amounts payable hereunder, in
each case to the extent subject to such participation, or postpone any date
fixed for any payment of principal of, or interest on, the Notes or any fees or
other amounts payable hereunder, in each case to the extent subject to such
participation. The Borrower agrees that each participant shall be entitled to
the benefits of Sections 2.11, 2.14 and 8.04(b) and (c) to the same extent as
if it were a Lender and had acquired its interest by assignment pursuant to
this Section 8.07; provided that no participant shall be entitled to
receive any greater amount pursuant to any such section than the transferor
Lender would have been entitled to receive in respect of the amount of the participation
transferred by such transferor Lender to such participant had no such
participation occurred.

(f)            Any Lender may, in connection with
any assignment or participation or proposed assignment or participation
pursuant to this Section 8.07, disclose to the assignee or participant or
proposed assignee or participant, any information relating to the Borrower
furnished to such Lender by or on behalf of the Borrower; provided that,
prior to any such disclosure, the assignee or participant or proposed assignee
or participant shall agree to preserve the confidentiality of any Confidential
Information relating to the Borrower received by it from such Lender.

(g)           Notwithstanding anything to the
contrary contained herein, any Lender (a “Granting Bank”) may grant to
any of its Affiliates (a “Funding Agent”), identified as such in writing
from time to time by the Granting Bank to the Agent and the Borrower, the
option to provide to the Borrower all or any part of any Advance that such
Granting Bank would otherwise be obligated to make to the Borrower pursuant to
this Agreement; provided that (i) nothing herein shall constitute a
commitment by any Funding Agent to make any Advance, (ii) if a Funding Agent
elects not to exercise such option or otherwise fails to provide all or any
part of such Advance, the Granting Bank shall be obligated, as a principal and
not as a surety, to make such Advance pursuant to the terms hereof. The making
of an Advance by a Funding Agent hereunder shall utilize the Commitment of the
Granting Bank to the same extent, and as if, such Advance were made by such
Granting Bank. Each party hereto hereby agrees that no Funding Bank shall be
liable for any indemnity or similar payment obligation under this Agreement
(all liability for which shall remain with the Granting Bank). Notwithstanding
the foregoing, neither any such grant made hereunder nor the holding of
interest hereunder by any Funding Agent shall increase any of the Borrower’s
obligations and/or liabilities (including without limitation tax liabilities
and other indemnities) which the Borrower has but for such grant or holding of
interest (“Funding Agent Liabilities”) and the Granting Bank shall hold
the Borrower harmless and indemnify the Borrower from and against any and all
Funding Agent Liabilities. Each party hereto agrees that the Granting Bank
shall, for all purposes, including any amendment, waiver or modification of
this Agreement, the Notes, or any document related thereto, remain the lender
of record hereunder.

(h)           Notwithstanding any other provision
set forth in this Agreement, any Lender may at any time create a security
interest in all or any portion of its rights under this Agreement (including,
without limitation, 

 42
 

the Advances owing to it
and any Note or Notes held by it) in favor of any Federal Reserve Bank in
accordance with Regulation A of the Board of Governors of the Federal Reserve
System.

SECTION 8.08. Confidentiality.
The Agent and the Lenders shall maintain the confidentiality of the
Confidential Information. Neither the Agent nor any Lender shall disclose any
Confidential Information to any other Person without the consent of the
Borrower, other than (a) to the Agent’s or such Lender’s Affiliates and their
officers, directors, employees, agents and advisors and, as contemplated by
Section 8.07(f), to actual or prospective assignees and participants (it being
understood that such disclosure shall be made solely in connection with the
transactions contemplated hereby and the Persons to whom such disclosure is
made will be informed of the confidential nature of such Confidential
Information and instructed to keep such Confidential Information confidential
on substantially the same terms as provided herein), (b) as required by any
law, rule or regulation or judicial process, and (c) as requested or required
by any state, federal or foreign authority or examiner regulating banks or
banking; provided, however, that with respect to disclosures
pursuant to clauses (b) and (c) of this Section, unless prohibited by law or
applicable court order, each Lender and the Agent shall attempt to notify the
Borrower of any request by any governmental agency or representative thereof or
other Person for disclosure of Confidential Information after receipt of such
request, and if reasonable, practicable and permissible, before disclosure of
such Confidential Information.

SECTION 8.09. Governing
Law. This Agreement and the Notes shall be governed by, and construed in
accordance with, the laws of the State of New York.

SECTION 8.10. Execution
in Counterparts. This Agreement may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of
which when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement. Delivery of an executed
counterpart of a signature page to this Agreement by telecopier shall be
effective as delivery of a manually executed counterpart of this Agreement.

SECTION 8.11. Judgment.
(a) If for the purposes of obtaining judgment in any court it is necessary to
convert a sum due hereunder in Dollars into another currency, the parties
hereto agree, to the fullest extent that they may effectively do so, that the
rate of exchange used shall be that at which in accordance with normal banking
procedures the Agent could purchase Dollars with such other currency at JPMCB’s
principal office in London at 11:00 A.M. (London time) on the Business Day
preceding that on which final judgment is given.

(b)           If for the purposes of obtaining
judgment in any court it is necessary to convert a sum due hereunder in a
Foreign Currency into Dollars, the parties agree to the fullest extent that
they may effectively do so, that the rate of exchange used shall be that at
which in accordance with normal banking procedures the Agent could purchase
such Foreign Currency with Dollars at JPMCB’s principal office in London at
11:00 A.M. (London time) on the Business Day preceding that on which final
judgment is given.

(c)           The obligation of the Borrower in
respect of any sum due from it in any currency (the “Primary Currency”)
to any Lender or the Agent hereunder shall, notwithstanding any judgment in any
other currency, be discharged only to the extent that on the Business Day
following receipt by such Lender or the Agent (as the case may be), of any sum
adjudged to be so due in such other currency, such Lender or the Agent (as the
case may be) may in accordance with normal banking procedures purchase the
applicable Primary Currency with such other currency; if the amount of the
applicable Primary Currency so purchased is less than such sum due to such
Lender or the Agent (as the case may be) in the applicable Primary Currency,
the Borrower agrees, as a separate obligation and notwithstanding any such judgment,
to indemnify such Lender or the Agent (as the case may be) against such loss,
and if the amount of the applicable Primary Currency so purchased exceeds such
sum due to any Lender or the Agent (as the case may be) in the applicable
Primary Currency, such Lender or the Agent (as the case may be) agrees to remit
to the Borrower such excess.

SECTION 8.12. Jurisdiction,
Etc. (a) Each of the parties hereto hereby irrevocably and unconditionally
submits, for itself and its property, to the nonexclusive jurisdiction of any
New York State court or federal court of the United States of America sitting
in New York City, and any appellate court from any thereof, in any action or
proceeding arising out of or relating to this Agreement or the Notes, or for
recognition or enforcement of any judgment, and each of the parties hereto
hereby irrevocably and unconditionally agrees that all claims in 

 43
 

respect of any such
action or proceeding may be heard and determined in any such New York State
court or, to the extent permitted by law, in such federal court. The Borrower
hereby irrevocably consents to the service of process in any action or
proceeding in such courts by the mailing thereof by any parties hereto by
registered or certified mail, postage prepaid, with an additional notice by
telecopier or by reputable overnight delivery service, to the Borrower at its
address specified pursuant to Section 8.02. Each of the parties hereto agrees
that a final judgment in any such action or proceeding shall be conclusive and
may be enforced in other jurisdictions by suit on the judgment or in any other
manner provided by law. Nothing in this Agreement shall affect any right that
any party may otherwise have to bring any action or proceeding relating to this
Agreement or the Notes in the courts of any jurisdiction.

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

SECTION 8.13. Substitution
of Currency. If a change in any Foreign Currency occurs pursuant to any
applicable law, rule or regulation of any governmental, monetary or
multi-national authority, this Agreement (including, without limitation, the
definitions of Eurocurrency Rate and LIBO Rate) will be amended to the extent
determined by the Agent (acting reasonably and in consultation with the
Borrower) to be necessary to reflect the change in currency and to put the
Lenders and the Borrower in the same position, so far as possible, that they
would have been in if no change in such Foreign Currency had occurred. No such
change in currency nor any economic consequences resulting therefrom shall (a)
give rise to any right to terminate prematurely, contest, cancel, rescind,
alter, modify or renegotiate the provisions of this Agreement or (b) discharge,
excuse or otherwise affect the performance of any obligations of any of the
Borrower or the Lenders under this Agreement.

SECTION 8.14. Patriot
Act Notice. Each Lender and the Agent (for itself and not on behalf of any
Lender) hereby notifies the Borrower that pursuant to the requirements of the
Uniting and Strengthening America by Providing Appropriate Tools Required to
Intercept and Obstruct Terrorism Act of 2001, Pub. L. 107-56, signed into law
October 26, 2001 (the “Patriot Act”), it is required to obtain, verify and
record information that identifies the Borrower, which information includes the
name and address of the Borrower and other information that will allow such
Lender or the Agent, as applicable, to identify the Borrower in accordance with
the Patriot Act. The Borrower shall provide such information and take such
actions as are reasonably requested by the Agent or any Lenders in order to
assist the Agent and the Lenders in maintaining compliance with the Patriot
Act.

SECTION 8.15. Waiver
of Jury Trial. Each of the Borrower, the Agent and the Lenders hereby
irrevocably waives all right to trial by jury in any action, proceeding or
counterclaim (whether based on contract, tort or otherwise) arising out of or
relating to this Agreement or the Notes or the actions of the Agent or any
Lender in the negotiation, administration, performance or enforcement thereof.

 44

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

	
  

  	
  SNAP-ON INCORPORATED

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  THE AGENT

  
	
   

  	
   

  
	
   

  	
  JPMORGAN CHASE BANK, N.A.

  
	
   

  	
  as Agent

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  INITIAL LENDERS

  
	
   

  	
   

  
	
   

  	
  JPMORGAN CHASE BANK, N.A.

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  CITIBANK, N.A.

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  MIZUHO CORPORATE BANK, LTD.

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  UBS LOAN FINANCE LLC

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  BARCLAYS BANK PLC

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

 45
 

 

	
  

  	
  CREDIT SUISSE, CAYMAN ISLANDS BRANCH

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  BANCO BILBAO VIZCAYA ARGENTARIA

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  BANK OF CHINA NEW YORK BRANCH

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  FIFTH THIRD BANK

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  THE NORTHERN TRUST COMPANY

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  ROYAL BANK OF CANADA

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  INTESA SANPAOLO S.p.A.

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

 46
 

 

	
  

  	
  SOCIETE GENERALE

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  U.S. BANK NATIONAL ASSOCIATION

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  SVENSKA HANDELSBANKEN AB (PUBL)

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

 47

SCHEDULE I

TO THE

AMENDMENT AND RESTATEMENT

COMMITMENTS
AND APPLICABLE LENDING OFFICES

	
  Name of Initial Lender

  	
   

  	
  Commitment

  	
   

  	
  Domestic Lending Office

  	
   

  	
  Eurocurrency Lending Office

  	
   

  
	
  Banco
  Bilbao Vizcaya Argentaria S.A.

  	
   

  	
  $

  	
  27,000,000

  	
   

  	
  1345
  Avenue of the Americas

  45th Floor

  New York, NY 10105

  Attn: Hector Villegas

  T: 212 728-1513

  F: 212 333-2904

  	
   

  	
  1345
  Avenue of the Americas

  45th Floor

  New York, NY 10105

  Attn: Hector Villegas

  T: 212 728-1513

  F: 212 333-2904

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Bank
  of China New York Branch

  	
   

  	
  $

  	
  27,000,000

  	
   

  	
  410
  Madison Avenue

  New York, NY 10017

  Attn: Elaine Ho

  T: 212 935-3101 x281

  F: 646 840-1796

  	
   

  	
  410
  Madison Avenue

  New York, NY 10017

  Attn: Elaine Ho

  T: 212 935-3101 x281

  F: 646 840-1796

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Barclays
  Bank PLC

  	
   

  	
  $

  	
  37,000,000

  	
   

  	
  200
  Park Avenue

  New York, NY 10166

  Attn: Jason Yoo

  T: 212 412-3432

  F: 212 412-5308

  	
   

  	
  200
  Park Avenue

  New York, NY 10166

  Attn: Jason Yoo

  T: 212 412-3432

  F: 212 412-5308

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Citibank,
  N.A.

  	
   

  	
  $

  	
  56,000,000

  	
   

  	
  Two
  Penns Way

  New Castle, DE 19720

  Attn: Maureen Prytula

  T: 302 894-6089

  F: 302 894-6120

  	
   

  	
  Two
  Penns Way

  New Castle, DE 19720

  Attn: Maureen Prytula

  T: 302 894-6089

  F: 302 894-6120

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Credit
  Suisse, Cayman Islands Branch

  	
   

  	
  $

  	
  27,000,000

  	
   

  	
  One
  Madison Avenue

  New York, NY 10010

  Attn: Loan Closers

  T: 212 325-9041

  F: 212 325-9049

  	
   

  	
  One
  Madison Avenue

  New York, NY 10010

  Attn: Loan Closers

  T: 212 325-9041

  F: 212 325-9049

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Fifth
  Third Bank

  	
   

  	
  $

  	
  27,000,000

  	
   

  	
  38
  Fountain Square Plaza

  MD 109046

  Cincinnati, OH 45202

  Attn: Andrew Jones

  T: 513 534-0836

  F: 513 534-5947

  	
   

  	
  38
  Fountain Square Plaza

  MD 109046

  Cincinnati, OH 45202

  Attn: Andrew Jones

  T: 513 534-0836

  F: 513 534-5947

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Intesa
  Sanpaolo S.p.A

  	
   

  	
  $

  	
  27,000,000

  	
   

  	
  245
  Park Avenue

  35th floor

  New York, NY 10167

  Attn: Robert Wurster

  T: 212 692-3160

  F: 212 692-3178

  	
   

  	
  245
  Park Avenue

  35th floor

  New York, NY 10167

  Attn: Robert Wurster

  T: 212 692-3160

  F: 212 692-3178

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  JPMorgan
  Chase Bank, N.A.

  	
   

  	
  $

  	
  56,000,000

  	
   

  	
  10
  S. Dearborn St., 7th Floor

  Suite IL1-0010

  Chicago, IL 60603

  Attn: Marlene Zanoria-Schultz

  T: 312-385-7071

  F: 312 385-7096

  	
   

  	
  10
  S. Dearborn St., 7th Floor

  Suite IL1-0010

  Chicago, IL 60603

  Attn: Marlene Zanoria-Schultz

  T: 312-385-7071

  F: 312 385-7096

  	
   

  

 

 

	
  Mizuho Corporate Bank, Ltd.

  	
   

  	
  $

  	
  43,000,000

  	
   

  	
  1800
  Plaza Ten

  Jersey City, NJ 07311

  Attn: Nicole Ferrara

  T: 201 626-9341

  F: 201 626-9913

  	
   

  	
  1800
  Plaza Ten

  Jersey City, NJ 07311

  Attn: Nicole Ferrara

  T: 201 626-9341

  F: 201 626-9913

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  The
  Northern Trust Company

  	
   

  	
  $

  	
  27,000,000

  	
   

  	
  50
  S. LaSalle Street

  Chicago, IL 60675

  Attn: Linda Honda

  T: 312 444-3532

  F: 312 630-1566

  	
   

  	
  50
  S. LaSalle Street

  Chicago, IL 60675

  Attn: Linda Honda

  T: 312 444-3532

  F: 312 630-1566

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Royal
  Bank of Canada

  	
   

  	
  $

  	
  27,000,000

  	
   

  	
  One
  Liberty Plaza

  New York, NY 10006

  Attn: Manager, Loans Administration

  T: 212 428-6322

  F: 212 428-2372

  	
   

  	
  One
  Liberty Plaza

  New York, NY 10006

  Attn: Manager, Loans Administration

  T: 212 428-6322

  F: 212 428-2372

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Societe
  Generale

  	
   

  	
  $

  	
  27,000,000

  	
   

  	
  560
  Lexington Avenue

  New York, NY 10022

  Attn: Sylvia Pace

  T: 212 278-6931

  F: 212 278-7343

  	
   

  	
  560
  Lexington Avenue

  New York, NY 10022

  Attn: Sylvia Pace

  T: 212 278-6931

  F: 212 278-7343

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Svenska
  Handelsbanken AB (publ)

  	
   

  	
  $

  	
  22,000,000

  	
   

  	
  875
  Third Ave

  4th Floor

  New York, NY 10022

  Attn: Marcus Ronnestam

  Tel: 212-326-5155

  Fax: 212-326-2705

  	
   

  	
  875
  Third Ave

  4th Floor

  New York, NY 10022

  Attn: Marcus Ronnestam

  Tel: 212-326-5155

  Fax: 212-326-2705

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  UBS
  Loan Finance LLC

  	
   

  	
  $

  	
  43,000,000

  	
   

  	
  677
  Washington Blvd

  Stamford, CT 06901

  Attn: Shaneequa Thomas

  T: 203 719-3385

  F: 203 719-3888

  	
   

  	
  677
  Washington Blvd

  Stamford, CT 06901

  Attn: Shaneequa Thomas

  T: 203 719-3385

  F: 203 719-3888

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  U.S. Bank National
  Association

  	
   

  	
  $

  	
  27,000,000

  	
   

  	
  777 E. Wisconsin Ave.

  Milwaukee, WI 53202

  Attn: Janell Stanosz

  T: 414 765-4419

  F: 414 765-5367

  	
   

  	
  777 E. Wisconsin Ave.

  Milwaukee, WI 53202

  Attn: Janell Stanosz

  T: 414 765-4419

  F: 414 765-5367

  	
   

  

 

Total
Commitment   =   U.S. $500,000,000

 2

Schedule
1.01

MANDATORY
COST FORMULAE

1.                                       The
Mandatory Cost (to the extent applicable) is an addition to the interest rate
to compensate Lenders for the cost of compliance with:

(a)                                  the
requirements of the Bank of England and/or the Financial Services Authority
(or, in either case, any other authority which replaces all or any of its
functions); or

(b)                                 the
requirements of the European Central Bank.

2.                                       On
the first day of each Interest Period (or as soon as possible thereafter) the
Agent shall calculate, as a percentage rate, a rate (the “Additional Cost
Rate”) for each Lender, in accordance with the paragraphs set out below.
The Mandatory Cost will be calculated by the Agent as a weighted average of the
Lenders’ Additional Cost Rates (weighted in proportion to the percentage
participation of each Lender in the relevant Advance) and will be expressed as
a percentage rate per annum. The Agent will, at the request of the Borrower or
any Lender, deliver to the Borrower or such Lender as the case may be, a statement
setting forth the calculation of any Mandatory Cost.

3.                                       The
Additional Cost Rate for any Lender lending from a Lending Office in a
Participating Member State will be the percentage notified by that Lender to
the Agent. This percentage will be certified by such Lender in its notice to
the Agent to be its reasonable determination of the cost (expressed as a
percentage of such Lender’s participation in all Advances made from such
Lending Office) of complying with the minimum reserve requirements of the European
Central Bank in respect of Advances made from that Lending Office.

4.                                       The
Additional Cost Rate for any Lender lending from a Lending Office in the United
Kingdom will be calculated by the Agent as follows:

(a)                                  in
relation to any Advance in Sterling:

	
  AB+C(B-D)+E x 0.01

  	
   

  	
  per cent per annum

  
	
  100 - (A+C)

  

 

(b)                                 in
relation to any Advance in any currency other than Sterling:

	
  E x 0.01

  	
   

  	
  per cent per annum

  
	
  300

  

 

Where:

“A”                          is
the percentage of Eligible Liabilities (assuming these to be in excess of any
stated minimum) which that Lender is from time to time required to maintain as
an interest free cash ratio deposit with the Bank of England to comply with
cash ratio requirements.

“B”                            is
the percentage rate of interest (excluding the Applicable Rate, the Mandatory
Cost and any interest charged on overdue amounts pursuant to the first sentence
of Section 2.08(b) and, in the case of interest (other than on overdue amounts)
charged at the Default Rate, without counting any increase in interest rate
effected by the charging of the Default Rate) payable for the relevant Interest
Period of such Advance.

“C”                            is
the percentage (if any) of Eligible Liabilities which that Lender is required
from time to time to maintain as interest bearing Special Deposits with the
Bank of England.

“D”                           is
the percentage rate per annum payable by the Bank of England to the Agent on
interest bearing Special Deposits.

“E”                             is
designed to compensate Lenders for amounts payable under the Fees Rules and is
calculated by the Agent as being the average of the most recent rates of charge
supplied by the Lenders to the Agent pursuant to paragraph 7 below and
expressed in pounds per £1,000,000.

5.                                       For
the purposes of this Schedule:

(a)                                  “Eligible
Liabilities” and “Special Deposits” have the meanings given to them
from time to time under or pursuant to the Bank of England Act 1998 or (as may
be appropriate) by the Bank of England;

(b)                                 “Fees
Rules” means the rules on periodic fees contained in the FSA Supervision
Manual or such other law or regulation as may be in force from time to time in
respect of the payment of fees for the acceptance of deposits;

(c)                                  “Fee
Tariffs” means the fee tariffs specified in the Fees Rules under the
activity group A.1 Deposit acceptors (ignoring any minimum fee or zero rated
fee required pursuant to the Fees Rules but taking into account any applicable
discount rate); and

(d)                                 “Tariff
Base” has the meaning given to it in, and will be calculated in accordance
with, the Fees Rules.

6.                                       In
application of the above formulae, A, B, C and D will be included in the
formulae as percentages (i.e. 5% will be
included in the formula as 5 and not as 0.05). A negative result obtained by
subtracting D from B shall be taken as zero. The resulting figures shall be
rounded to four decimal places.

7.                                       If
requested by the Agent or the Borrower, each Lender with a Lending Office in
the United Kingdom or a Participating Member State shall, as soon as practicable
after publication by the Financial Services Authority, supply to the Agent and
the Borrower, the rate of charge payable by such Lender to the Financial
Services Authority pursuant to the Fees Rules in respect of the relevant
financial year of the Financial Services Authority (calculated for this purpose
by such Lender as being the average of the Fee Tariffs applicable to such
Lender for that financial year) and expressed in pounds per £1,000,000 of the
Tariff Base of such Lender.

8.                                       Each
Lender shall supply any information required by the Agent for the purpose of
calculating its Additional Cost Rate. In particular, but without limitation,
each Lender shall supply the following information in writing on or prior to
the date on which it becomes a Lender:

(a)                                  the
jurisdiction of the Lending Office out of which it is making available its
participation in the relevant Advance; and

(b)                                 any
other information that the Agent may reasonably require for such purpose.

Each Lender shall
promptly notify the Agent in writing of any change to the information provided
by it pursuant to this paragraph.

9.                                       The
percentages of each Lender for the purpose of A and C above and the rates of
charge of each Lender for the purpose of E above shall be determined by the
Agent based upon the information supplied to it pursuant to paragraphs 7
and 8 above and on the assumption that, unless a Lender notifies the
Agent to the contrary, each Lender’s obligations in relation to cash ratio
deposits and Special Deposits are the same as those of a typical bank from its
jurisdiction of incorporation with a Lending Office in the same jurisdiction as
its Lending Office.

 2
 

10.                                 The
Agent shall have no liability to any Person if such determination results in an
Additional Cost Rate which over- or under-compensates any Lender and shall be
entitled to assume that the information provided by any Lender pursuant to paragraphs
3, 7 and 8 above is true and correct in all respects.

11.                                 The
Agent shall distribute the additional amounts received as a result of the
Mandatory Cost to the Lenders on the basis of the Additional Cost Rate for each
Lender based on the information provided by each Lender pursuant to paragraphs
3, 7 and 8 above.

12.                                 Any
determination by the Agent pursuant to this Schedule in relation to a formula,
the Mandatory Cost, an Additional Cost Rate or any amount payable to a Lender
shall, in the absence of manifest error, be conclusive and binding on all
parties hereto.

13.                                 The
Agent may from time to time, after consultation with the Borrower and the
Lenders, determine and notify to all parties any amendments which are required
to be made to this Schedule in order to comply with any change in law,
regulation or any requirements from time to time imposed by the Bank of
England, the Financial Services Authority or the European Central Bank (or, in
any case, any other authority which replaces all or any of its functions) and
any such determination shall, in the absence of manifest error, be conclusive
and binding on all parties hereto.

 3

Schedule
3.01(b)

Disclosed
Litigation

On May 16, 2006,
Snap-on reached an agreement to settle certain legal matters related to certain
then current and former franchisees on a class basis. The court gave its final
approval to the class settlement on October 27, 2006. Under the terms of the
settlement, Snap-on agreed to make payments to claimants and class counsel,
plus incur certain other costs and expenses. Snap-on recorded a $38.0 million
pretax charge in the second quarter of 2006 representing its best estimate to
settle these legal matters. As of June 30, 2007, the majority of the settlement
funds, including payments to the class participants made in the first quarter
of 2007, have been disbursed. Snap-on has not admitted any wrongdoing by way of
this settlement.

Schedule
5.02(a)

Liens

None.

EXHIBIT A-1—FORM OF

REVOLVING CREDIT

PROMISSORY NOTE

	
  U.S.$                                 

  	
  Dated:                               ,
  200  

  

 

FOR VALUE
RECEIVED, the undersigned, SNAP-ON INCORPORATED, a Delaware corporation (the “Borrower”),
HEREBY PROMISES TO PAY to the order of                                                   
(the “Lender”) for the account of its Applicable Lending Office on the
Termination Date applicable to the Lender (each as defined in the Credit
Agreement referred to below) the principal sum of U.S.$[amount of the Lender’s
Commitment in figures] or, if less, the aggregate principal amount of the
Revolving Credit Advances made by the Lender to the Borrower pursuant to the
Five Year Credit Agreement dated as of [            ],
2007 among the Borrower, the Lender and certain other lenders parties thereto,
J.P. Morgan Securities Inc. and Citigroup Global Markets Inc., as joint lead
arrangers and joint bookrunners, and JPMorgan Chase Bank, N.A., as Agent for
the Lender and such other lenders (as amended or modified from time to time,
the “Credit Agreement”; the terms defined therein being used herein as
therein defined) outstanding on such date.

The Borrower
promises to pay interest on the unpaid principal amount of each Revolving
Credit Advance from the date of such Revolving Credit Advance until such
principal amount is paid in full, at such interest rates, and payable at such
times, as are specified in the Credit Agreement.

Both principal and
interest in respect of each Revolving Credit Advance (i) in Dollars are payable
in lawful money of the United States of America to the Agent at its account
maintained at [                              ],
in same day funds and (ii) in any Committed Currency are payable in such currency
at the applicable Payment Office in same day funds. Each Revolving Credit
Advance owing to the Lender by the Borrower pursuant to the Credit Agreement,
and all payments made on account of principal thereof, shall be recorded by the
Lender and, prior to any transfer hereof, endorsed on the grid attached hereto
which is part of this Promissory Note.

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

	
  

  	
  SNAP-ON INCORPORATED

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  
	
   

  	
   

  	
  Title:

  

 

ADVANCES AND PAYMENTS OF PRINCIPAL

	
  Date

  	
   

  	
  Amount of

  Advance

  	
   

  	
  Amount of

  Principal Paid

  or Prepaid

  	
   

  	
  Unpaid Principal

  Balance

  	
   

  	
  Notation

  Made By

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

EXHIBIT A-2—FORM OF

COMPETITIVE BID

PROMISSORY NOTE

	
  U.S.$                             

  	
  Dated:                               ,
  200  

  

 

FOR VALUE
RECEIVED, the undersigned, SNAP-ON INCORPORATED, a Delaware corporation (the “Borrower”),
HEREBY PROMISES TO PAY to the order of                                                   
(the “Lender”) for the account of its Applicable Lending Office (as
defined in the Amended and Restated 364-Day Credit Agreement dated as of [              ],
2007 among the Borrower, the Lender and certain other lenders parties thereto,
J.P. Morgan Securities Inc. and Citigroup Global Markets Inc., as joint lead
arrangers and joint bookrunners, and JPMorgan Chase Bank, N.A. (“JPMCB”),
as Agent for the Lender and such other lenders (as amended or modified from
time to time, the “Credit Agreement”; the terms defined therein being
used herein as therein defined)), on                               ,
200  , the principal amount of [U.S.$                              ]
[for a Competitive Bid Advance in a Foreign Currency, list currency and amount
of such Advance].

The Borrower
promises to pay interest on the unpaid principal amount hereof from the date
hereof until such principal amount is paid in full, at the interest rate and
payable on the interest payment date or dates provided below:

Interest Rate:           %
per annum (calculated on the basis of a year of           
days for the actual number of days elapsed).

Both principal and
interest are payable in lawful money of                                 
to JPMCB, as agent, for the account of the Lender at the office of                                                   ,
at                                                   
in same day funds.

This Promissory
Note is one of the Competitive Bid Notes referred to in, and is entitled to the
benefits of, the Credit Agreement. The Credit Agreement, among other things,
contains provisions for acceleration of the maturity hereof upon the happening
of certain stated events.

The Borrower
hereby waives presentment, demand, protest and notice of any kind. No failure
to exercise, and no delay in exercising, any rights hereunder on the part of
the holder hereof shall operate as a waiver of such rights.

This Promissory
Note shall be governed by, and construed in accordance with, the laws of the
State of New York.

	
  

  	
  SNAP-ON INCORPORATED

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  
	
   

  	
   

  	
  Title:

  

 

EXHIBIT B-1—FORM OF NOTICE OF

REVOLVING CREDIT BORROWING

JPMorgan Chase Bank,
N.A., as Agent

for the Lenders parties

to the Credit Agreement

referred to below

[                ]

[Date]

Attention: Loan
Services Department

Ladies and Gentlemen:

The undersigned,
SNAP-ON INCORPORATED, refers to the Five Year Credit Agreement, dated as of [              ],
2007 (as amended or modified from time to time, the “Credit Agreement”,
the terms defined therein being used herein as therein defined), among the
undersigned, certain Lenders parties thereto, J.P. Morgan Securities Inc. and
Citigroup Global Markets Inc., as joint lead arrangers and joint bookrunners,
and JPMorgan Chase Bank, N.A. (“JPMCB”), as Agent for said Lenders, and
hereby gives you notice, irrevocably, pursuant to Section 2.02 of the Credit
Agreement that the undersigned hereby requests a Revolving Credit Borrowing
under the Credit Agreement, and in that connection sets forth below the
information relating to such Revolving Credit Borrowing (the “Proposed
Revolving Credit Borrowing”) as required by Section 2.02(a) of the Credit
Agreement:

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

(ii)           The Type of Advances comprising the
Proposed Revolving Credit Borrowing is [Base Rate Advances] [Eurocurrency Rate
Advances].

(iii)          The aggregate amount of the Proposed
Revolving Credit Borrowing is [$                              ]
[for a Revolving Credit Borrowing in a Committed Currency, list currency and
amount of Revolving Credit Borrowing].

[(iv)         The initial Interest Period for each
Eurocurrency Rate Advance made as part of the Proposed Revolving Credit
Borrowing is           
[month[s]] [days].]

The undersigned
hereby certifies that the following statements are true on the date hereof, and
will be true on the date of the Proposed Revolving Credit Borrowing:

(A)          the representations and warranties
contained in Section 4.01 of the Credit Agreement (except the representations
set forth in the last sentence of subsection (e) thereof and in subsection
(f)(i) thereof) are correct, before and after giving effect to the Proposed
Revolving Credit Borrowing and to the application of the proceeds therefrom, as
though made on and as of such date;

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

(C)           after giving effect to such Proposed
Revolving Credit Borrowing, the aggregate amount of the Borrower’s Debt (not
including other transactions relating to Snap-on Credit LLC) from any bank or
financial institution or under any commercial paper facility or debt securities
or securitization program outstanding will not exceed $[700,000,000] or, if
greater, the amount authorized by resolutions of the Board of Directors in
effect on the date of such Proposed Revolving Credit Borrowing.

	
  

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  SNAP-ON INCORPORATED

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  
	
   

  	
   

  	
  Title:

  

 

EXHIBIT B-2—FORM OF NOTICE OF

COMPETITIVE BID BORROWING

JPMorgan Chase Bank,
N.A., as Agent

for the Lenders parties

to the Credit Agreement

referred to below

[            ]

[Date]

Attention: Loan Services Department

Ladies and Gentlemen:

The undersigned, SNAP-ON
INCORPORATED, refers to the Five Year Credit Agreement, dated as of [          ],
2007 (as amended or modified from time to time, the “Credit Agreement”,
the terms defined therein being used herein as therein defined), among the
undersigned, certain Lenders parties thereto, J.P. Morgan Securities Inc. and
Citigroup Global Markets Inc., as joint lead arrangers and joint bookrunners,
and JPMorgan Chase Bank, N.A. (“JPMCB”), as Agent for said Lenders, and
hereby gives you notice, irrevocably, pursuant to Section 2.03 of the Credit
Agreement that the undersigned hereby requests a Competitive Bid Borrowing
under the Credit Agreement, and in that connection sets forth the terms on
which such Competitive Bid Borrowing (the “Proposed Competitive Bid
Borrowing”) is requested to be made:

	
  (A)

  	
   

  	
  Date of Competitive Bid
  Borrowing

  	
   

  	
   

  	
   

  
	
  (B)

  	
   

  	
  Amount of Competitive
  Bid Borrowing

  	
   

  	
   

  	
   

  
	
  (C)

  	
   

  	
  [Maturity Date]
  [Interest Period]

  	
   

  	
   

  	
   

  
	
  (D)

  	
   

  	
  Interest Rate Basis

  	
   

  	
   

  	
   

  
	
  (E)

  	
   

  	
  Day Count Convention

  	
   

  	
   

  	
   

  
	
  (F)

  	
   

  	
  Interest Payment
  Date(s)

  	
   

  	
   

  	
   

  
	
  (G)

  	
   

  	
  Currency

  	
   

  	
   

  	
   

  
	
  (H)

  	
   

  	
  Borrower’s Account
  Location

  	
   

  	
   

  	
   

  
	
  [(I)

  	
   

  	
  Prepayments Permitted

  	
   

  	
   

  	
  ]

  
	
  (J)

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
							

 

The
undersigned hereby certifies that the following statements are true on the date
hereof, and will be true on the date of the Proposed Competitive Bid Borrowing:

(a)           the representations and warranties
contained in Section 4.01 are correct, before and after giving effect to the
Proposed Competitive Bid Borrowing and to the application of the proceeds
therefrom, as though made on and as of such date;

(b)           no event has occurred and is
continuing, or would result from the Proposed Competitive Bid Borrowing or from
the application of the proceeds therefrom, that constitutes a Default;

(c)           no event has occurred and no circumstance
exists as a result of which the information concerning the undersigned that has
been provided to the Agent and each Lender by the undersigned in connection
with the Credit Agreement would include an untrue statement of a material fact
or omit to state any material fact or any fact necessary to make the statements
contained therein, in the light of the circumstances under which they were
made, not misleading;

(d)           the aggregate amount of the Proposed
Competitive Bid Borrowing, if accepted by the Borrower, and all other
Borrowings to be made on the same day under the Credit Agreement is within the
aggregate amount of the unused Commitments of the Lenders, and

(e)           after giving effect to the Proposed
Competitive Bid Borrowing, the aggregate amount of the Borrower’s Debt (not
including other transactions relating to Snap-on Credit LLC) from any bank or
financial institution or under any commercial paper facility or debt securities
or securitization program outstanding will not exceed $[700,000,000] or, if
greater, the amount authorized by resolutions of the Board of Directors in
effect on the date of the Proposed Competitive Bid Borrowing.

	
  

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  SNAP-ON INCORPORATED

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  
	
   

  	
   

  	
  Title:

  

 

EXHIBIT C—FORM OF

ASSIGNMENT AND ACCEPTANCE

Reference is made
to the Five Year Credit Agreement dated as of [              ],
2007 (as amended or modified from time to time, the “Credit Agreement”)
among Snap-On Incorporated, a Delaware corporation (the “Borrower”), the
Lenders (as defined in the Credit Agreement), J.P. Morgan Securities Inc. and
Citigroup Global Markets Inc., as joint lead arrangers and joint bookrunners,
and JPMorgan Chase Bank, N.A. (“JPMCB”), as agent for the Lenders (the “Agent”).
Terms defined in the Credit Agreement are used herein with the same meaning.

The “Assignor” and
the “Assignee” referred to on Schedule I hereto agree as follows:

1.             The Assignor hereby sells and
assigns to the Assignee, and the Assignee hereby purchases and assumes from the
Assignor, an interest in and to the Assignor’s rights and obligations under the
Credit Agreement as of the date hereof (other than in respect of Competitive
Bid Advances and Competitive Bid Notes) equal to the percentage interest
specified on Schedule 1 hereto of all outstanding rights and obligations under
the Credit Agreement (other than in respect of Competitive Bid Advances and
Competitive Bid Notes) and, to the extent permitted by applicable law, all
claims, suits, causes of action and any other right of the Assignor (in its
capacity as a Lender) against any Person, whether known or unknown, arising
under or in connection with the Credit Agreement, any other documents or
instruments delivered pursuant thereto or the transactions governed thereby,
including but not limited to contract claims, tort claims, malpractice claims,
statutory claims and all other claims at law or in equity related to the rights
and obligations sold and assigned hereby. After giving effect to such sale and
assignment, the Assignee’s Commitment and the amount of the Revolving Credit
Advances owing to the Assignee will be as set forth on Schedule 1 hereto.

2.             The Assignor (i) represents and
warrants that it is the legal and beneficial owner of the interest being assigned
by it hereunder and that such interest is free and clear of any adverse claim;
(ii) makes no representation or warranty and assumes no responsibility with
respect to any statements, warranties or representations made in or in
connection with the Credit Agreement or the execution, legality, validity,
enforceability, genuineness, sufficiency or value of the Credit Agreement or
any other instrument or document furnished pursuant thereto; (iii) makes no
representation or warranty and assumes no responsibility with respect to the
financial condition of the Borrower or the performance or observance by the
Borrower of any of its obligations under the Credit Agreement or any other
instrument or document furnished pursuant thereto; and (iv) attaches the
Revolving Credit Note, if any held by the Assignor.

3.             The Assignee (i) confirms that it
has received a copy of the Credit Agreement, together with copies of the
financial statements referred to in Section 4.01 thereof and such other
documents and information as it has deemed appropriate to make its own credit
analysis and decision to enter into this Assignment and Acceptance; (ii) agrees
that it will, independently and without reliance upon the Agent, the Assignor
or any other Lender and based on such documents and information as it shall
deem appropriate at the time, continue to make its own credit decisions in
taking or not taking action under the Credit Agreement; (iii) represents to the
Assignor, the Agent and the Borrower that it is an Eligible Assignee; (iv) appoints
and authorizes the Agent to take such action as agent on its behalf and to
exercise such powers and discretion under the Credit Agreement as are delegated
to the Agent by the terms thereof, together with such powers and discretion as
are reasonably incidental thereto; (v) agrees that it will perform in
accordance with their terms all of the obligations that by the terms of the
Credit Agreement are required to be performed by it as a Lender; and (vi)
attaches any U.S. Internal Revenue Service forms required under Section 2.14 of
the Credit Agreement.

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

5.             Upon such acceptance and recording
by the Agent, as of the Effective Date, (i) the Assignee shall be a party to
the Credit Agreement and, to the extent provided in this Assignment and
Acceptance, 

have the rights and
obligations of a Lender thereunder and (ii) the Assignor shall, to the extent
provided in this Assignment and Acceptance, relinquish its rights and be
released from its obligations under the Credit Agreement.

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

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

8.             This Assignment and Acceptance may
be executed in any number of counterparts and by different parties hereto in
separate counterparts, each of which when so executed shall be deemed to be an
original and all of which taken together shall constitute one and the same
agreement. Delivery of an executed counterpart of Schedule 1 to this Assignment
and Acceptance by telecopier shall be effective as delivery of a manually
executed counterpart of this Assignment and Acceptance.

IN WITNESS
WHEREOF, the Assignor and the Assignee have caused Schedule 1 to this
Assignment and Acceptance to be executed by their officers thereunto duly
authorized as of the date specified thereon.

Schedule 1

to

Assignment and Acceptance

	
  Percentage interest
  assigned:

  	
   

  	
  _______

  	
  %

  
	
   

  	
   

  	
   

  	
   

  
	
  Assignee’s Commitment:

  	
   

  	
  $

  	
  __________

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Aggregate outstanding
  principal amount of Revolving Credit Advances assigned:

  	
   

  	
  $

  	
  __________

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Principal amount of
  Revolving Credit Note payable to Assignee:

  	
   

  	
  $

  	
  __________

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Principal amount of
  Revolving Credit Note payable to Assignor:

  	
   

  	
  $

  	
  __________

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Effective Date*:                               ,
  200  

  	
   

  	
   

  	
   

  

 

	
  

  	
  [NAME OF ASSIGNOR], as Assignor

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  Dated:                               ,
  200  

  
	
   

  	
   

  
	
   

  	
  [NAME OF ASSIGNEE], as Assignee

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  Dated:                               ,
  200  

  
	
   

  	
   

  
	
   

  	
  Domestic Lending Office:

  
	
   

  	
  [Address]

  
	
   

  	
   

  
	
   

  	
  Eurocurrency Lending Office:

  
	
   

  	
  [Address]

  

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

 

	
  Accepted [and Approved]* this

  	
   

  
	
   

  	
   

  
	
                      
  day of                               ,
  200  

  	
   

  
	
   

  	
   

  
	
  JPMORGAN CHASE BANK, N.A., as Agent

  	
   

  
	
   

  	
   

  
	
  By

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
  [Approved this                     
  day

  	
   

  
	
  of                               ,
  200  

  	
   

  
	
   

  	
   

  
	
  SNAP-ON INCORPORATED

  	
   

  
	
   

  	
   

  
	
  By

  	
   

  	
  ]**

  
	
   

  	
  Title:

  	
   

  

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

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

EXHIBIT D—FORM OF

OPINION OF COUNSEL

FOR THE BORROWER

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