Document:

Directors' Compensation and Travel Expense Reimbursement

 Exhibit 10.5 
 Board Approved 
 November 16, 2007 
 Federal Home Loan Bank of Indianapolis 
 Directors’ Compensation and
Travel Expense Reimbursement Policy 
 Effective January 1, 2008 
 Annual Fees 
 Each director, other than the Chairman and the Vice Chairman, will receive $1,900 for each day
spent physically in attendance at one or more meetings of the Board or its committees. The Chairman of the Board will receive $3,100 for each day spent in attendance presiding at one or more meetings of the Board of Directors and for each day spent
attending other committee meetings. The Vice Chairman will receive $2,500 for each day spent in attendance at one or more meetings of the Board or its committees. The annual fee schedule limit for 2008 is summarized as follows: 
  

							
	 	  	Per Day In-Person Fee	  	Annual Limit
	 Chair
	  	$	3,100	  	$	31,232
	 Vice Chair
	  	$	2,500	  	$	24,986
	 Director
	  	$	1,900	  	$	18,739

 If it appears that a director will not meet the statutory limit by year-end, Board or committee meeting conference
calls ($250 per call) and other special meetings attended on behalf of the Bank throughout the year may be reimbursed per the per-day meeting schedule with the pre-approval of the Board. Ordinarily, Board or committee conference calls, web meetings,
member marketing meetings, Council of FHLBank meetings, Federal Housing Finance Board meetings and director orientation meetings are not included in this meeting definition unless pre-approved by the Board under the special exception provision noted
above. Cancellations by the Bank due to inclement weather or other circumstances beyond a director’s control (except illness) will be included in the per-day meetings definition. 
 In no event shall any Director be paid amounts which would exceed the annual limitations on compensation set forth in Section 7(i) of the Federal Home Loan Bank Act (12 U.S.C. §1427(i)), as amended by the
Gramm-Leach-Bliley Act of 1999, and as adjusted by the Federal Housing Finance Board pursuant to 12 C.F.R. §918.3. 
 Fees shall be paid quarterly on or
about the last day of each March, June, September and December and shall be paid to the Director, or to the Bank’s Director Deferred Compensation Plan upon timely election by the Director, or to the Director’s employer pursuant to the
terms of the employer’s authorized charitable contribution plan. 
 Travel Expense Reimbursement 
 Travel expense reimbursement will be provided for board meetings, committee meetings, director orientation, other director events scheduled concurrently with board
meetings, Federal Housing Finance Board System meetings, Council of Federal Home Loan Bank meetings, Community Investment Conference meetings, or Bank marketing meetings. Travel expenses include reasonable transportation, food, hotel expenses, and
reasonable long-distance charges. 
  

 1 

 Exhibit 10.5 
 Board Approved 
 November 16, 2007 
 Expense Procedures 
  

	1.	No gift or entertainment expenses initiated by a director shall be reimbursed without being prearranged by the Bank. Director should review the Bank’s Code of Conduct
concerning gift and entertainment restrictions. 

  

	2.	To qualify for reimbursement, all eligible expenses incurred must be submitted for payment to the Bank within 12 months of the date that the expenses were incurred. This requirement
may be waived, at the discretion of the Senior Vice President-CFO or by the Senior Vice President-Chief Accounting Officer, in the event of an error or omission. 

 Spouse/Guest Travel (Two Events per Year) 
 Expenses of a director’s spouse or guest may be
reimbursed in accordance with the Travel Expense Policy subject to a limit of two travel events per year. Spousal entertainment expenses incidental to the hotel property or event are permitted where prearranged by the Bank, subject to two
travel events per year. Income tax reporting will be made by the Bank as required by law, on spousal/guest travel if the spouse or guest attends the event without a bona fide Bank business purpose. 
 Air Travel and First Class 
  

	1.	The Bank will pay the direct common carrier expense (as defined in paragraph 3 below) for a director between the director’s residence and the site of a Bank function and the
return. The actual cost of private air travel will not be reimbursed, but the equivalent direct common carrier expense (as defined in paragraph 3 below) may be substituted. 

  

	2.	The Bank will pay for a director and spouse or guest first-class air travel for two trips per year over 1.5 hours in flight time. Additional first-class travel is not allowed,
unless required due to scheduling or flight availability. 

  

	3.	If a director’s non-Bank activity requires a route to attend a Bank function which originates or terminates in a location other than the place of residence, the Bank will
reimburse the director an amount equal to the direct common carrier expense from the director’s location to the location of the Bank function and then to the director’s next intended destination (without regard to stops named as temporary
layovers), subject to a limit of an amount not to exceed two times the direct common carrier expense to the board meeting location and from the director’s residence and return to his residence. 

  

	4.	The “direct common carrier expense” shall be the regular market-rate coach or first-class fare as applicable, and should be documented by the director submitting an
expense report. Travel scheduling affecting the direct common carrier expense shall be reasonable, given the timing of the meetings. 

  

 2 

 Exhibit 10.5 
 Board Approved 
 November 16, 2007 
 Issues of Interpretation 
 Unless expressly provided herein or in 12 CFR Part 918 (as amended), the Bank’s
current Travel Policy as contained in the Employee Manual shall control with respect to the travel expense reimbursement. The Federal Housing Finance Board’s former Director Travel Policy (FHFB Resolution 93-12) is superseded, but may be used
as non-binding precedent should issues of interpretation arise. The Senior Vice President-CFO and Senior Vice President-Chief Accounting Officer are authorized, in their respective reasonable discretion, to interpret the provisions of the policy and
to address situations not anticipated by the policy, consistent with the requirements set forth in the statute or the regulations promulgated by the Federal Housing Finance Board. 
 Human Resources Committee Annual Review 
 The Human Resources Committee shall annually review this policy and
shall submit its recommendation to the board for approval no later than the last regularly scheduled meeting of the board for the year. 
  

 3Note Purchase Agreement dated March 19, 2008

 Exhibit 10.1 
 CONFORMED COPY 
  
  
  
 PATTERSON COMPANIES, INC. 
 PATTERSON MEDICAL HOLDINGS, INC. 
 PATTERSON
MEDICAL SUPPLY, INC. 
 PATTERSON DENTAL HOLDINGS, INC. 
 PATTERSON DENTAL SUPPLY, INC. 
 WEBSTER VETERINARY SUPPLY, INC. 
 WEBSTER MANAGEMENT, LP 
 $450,000,000 Senior
Notes 
 $50,000,000 4.63% Senior Notes, Series A-1, due March 25, 2013 
 $250,000,000 5.17% Senior Notes, Series A-2, due March 25, 2015 
 $150,000,000 5.75%
Senior Notes, Series A-3, due March 25, 2018 
  
  
 NOTE PURCHASE AGREEMENT

  
  
 Dated as of March 19, 2008 
  
  
  
 SERIES A-1 PPN: 70342@ AA6 
 SERIES A-2 PPN:
70342@ AB4 
 SERIES A-3 PPN: 70342@ AC2 

 TABLE OF CONTENTS 
  

							
	 Section
	  	 	  	Page
			
	 1.
	  	AUTHORIZATION OF NOTES.	  	1
		  	1.1.	  	The Notes.	  	1
		  	1.2.	  	Additional Interest.	  	2
			
	 2.
	  	SALE AND PURCHASE OF NOTES.	  	2
			
	 3.
	  	CLOSING.	  	2
			
	 4.
	  	CONDITIONS TO CLOSING.	  	3
		  	4.1.	  	Representations and Warranties.	  	3
		  	4.2.	  	Performance; No Default.	  	3
		  	4.3.	  	Compliance Certificates.	  	3
		  	4.4.	  	Opinions of Counsel.	  	3
		  	4.5.	  	Purchase Permitted By Applicable Law, etc.	  	4
		  	4.6.	  	Sale of Other Notes.	  	4
		  	4.7.	  	Payment of Special Counsel Fees.	  	4
		  	4.8.	  	Private Placement Number.	  	4
		  	4.9.	  	Changes in Corporate Structure.	  	4
		  	4.10.	  	Funding Instructions.	  	4
		  	4.11.	  	Credit Agreement.	  	5
		  	4.12.	  	Term Loan Agreement.	  	5
		  	4.13.	  	Proceedings and Documents.	  	5
			
	 5.
	  	REPRESENTATIONS AND WARRANTIES OF THE COMPANY.	  	5
		  	5.1.	  	Organization; Power and Authority.	  	5
		  	5.2.	  	Authorization, etc.	  	5
		  	5.3.	  	Disclosure.	  	6
		  	5.4.	  	Organization and Ownership of Shares of Subsidiaries; Affiliates.	  	6
		  	5.5.	  	Financial Statements.	  	7
		  	5.6.	  	Compliance with Laws, Other Instruments, etc.	  	7
		  	5.7.	  	Governmental Authorizations, etc.	  	7
		  	5.8.	  	Litigation; Observance of Agreements, Statutes and Orders.	  	7
		  	5.9.	  	Taxes.	  	8
		  	5.10.	  	Title to Property; Leases.	  	8
		  	5.11.	  	Licenses, Permits, etc.	  	8
		  	5.12.	  	Compliance with ERISA.	  	9
		  	5.13.	  	Private Offering by the Company.	  	10
		  	5.14.	  	Use of Proceeds; Margin Regulations.	  	10
		  	5.15.	  	Existing Debt; Future Liens.	  	10
		  	5.16.	  	Foreign Assets Control Regulations, Anti-Terrorism Order, etc.	  	11

  

 ii 

							
		  	5.17.	  	Status under Certain Statutes.	  	11
		  	5.18.	  	Environmental Matters.	  	11
		  	5.19.	  	Solvency of Obligors.	  	12
			
	 6.
	  	REPRESENTATIONS OF THE PURCHASERS.	  	12
		  	6.1.	  	Purchase for Investment.	  	12
		  	6.2.	  	Source of Funds.	  	12
			
	 7.
	  	INFORMATION AS TO COMPANY.	  	14
		  	7.1.	  	Financial and Business Information	  	14
		  	7.2.	  	Officer’s Certificate.	  	16
		  	7.3.	  	Electronic Delivery.	  	17
		  	7.4.	  	Inspection.	  	17
			
	 8.
	  	PREPAYMENT OF THE NOTES.	  	18
		  	8.1.	  	No Scheduled Prepayments.	  	18
		  	8.2.	  	Optional Prepayments.	  	18
		  	8.3.	  	Mandatory Offer to Prepay Upon Change of Control.	  	20
		  	8.4.	  	Allocation of Partial Prepayments.	  	21
		  	8.5.	  	Maturity; Surrender, etc.	  	21
		  	8.6.	  	Purchase of Notes.	  	22
		  	8.7.	  	Make-Whole Amount.	  	22
			
	 9.
	  	AFFIRMATIVE COVENANTS.	  	23
		  	9.1.	  	Compliance with Law.	  	23
		  	9.2.	  	Insurance.	  	23
		  	9.3.	  	Maintenance of Properties.	  	24
		  	9.4.	  	Payment of Taxes and Claims.	  	24
		  	9.5.	  	Corporate Existence, etc.	  	24
		  	9.6.	  	Ranking of Notes.	  	24
		  	9.7.	  	Subsidiary Guaranty.	  	25
			
	 10.
	  	NEGATIVE COVENANTS.	  	25
		  	10.1.	  	Debt to Adjusted EBITDA Ratio.	  	25
		  	10.2.	  	Interest Coverage.	  	26
		  	10.3.	  	Priority Debt.	  	26
		  	10.4.	  	Liens.	  	26
		  	10.5.	  	Subsidiary Debt.	  	27
		  	10.6.	  	Mergers, Consolidations, etc.	  	28
		  	10.7.	  	Sale of Assets.	  	29
		  	10.8.	  	Transactions with Affiliates.	  	30
			
	 11.
	  	EVENTS OF DEFAULT.	  	30
			
	 12.
	  	REMEDIES ON DEFAULT, ETC.	  	32
		  	12.1.	  	Acceleration.	  	32
		  	12.2.	  	Other Remedies.	  	33

  

 iii 

							
		  	12.3.	  	Rescission.	  	33
		  	12.4.	  	No Waivers or Election of Remedies, Expenses, etc.	  	33
			
	 13.
	  	REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES.	  	34
		  	13.1.	  	Registration of Notes.	  	34
		  	13.2.	  	Transfer and Exchange of Notes.	  	34
		  	13.3.	  	Replacement of Notes.	  	34
			
	 14.
	  	PAYMENTS ON NOTES.	  	35
		  	14.1.	  	Place of Payment.	  	35
		  	14.2.	  	Home Office Payment.	  	35
			
	 15.
	  	EXPENSES, ETC.	  	35
		  	15.1.	  	Transaction Expenses.	  	35
		  	15.2.	  	Survival.	  	36
			
	 16.
	  	SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT.	  	36
			
	 17.
	  	AMENDMENT AND WAIVER.	  	36
		  	17.1.	  	Requirements.	  	36
		  	17.2.	  	Solicitation of Holders of Notes.	  	37
		  	17.3.	  	Binding Effect, etc.	  	37
		  	17.4.	  	Notes held by Obligors, etc.	  	37
			
	 18.
	  	NOTICES.	  	38
			
	 19.
	  	REPRODUCTION OF DOCUMENTS.	  	38
			
	 20.
	  	CONFIDENTIAL INFORMATION.	  	38
			
	 21.
	  	SUBSTITUTION OF PURCHASER.	  	40
			
	 22.
	  	RELEASE OF OBLIGOR OR SUBSIDIARY GUARANTOR.	  	40
			
	 23.
	  	MISCELLANEOUS.	  	41
		  	23.1.	  	Successors and Assigns.	  	41
		  	23.2.	  	Payments Due on Non-Business Days.	  	41
		  	23.3.	  	Accounting Terms.	  	41
		  	23.4.	  	Severability.	  	41
		  	23.5.	  	Construction.	  	41
		  	23.6.	  	Counterparts.	  	42
		  	23.7.	  	Governing Law; Submission to Jurisdiction.	  	42

  

 iv 

					
	SCHEDULE A	  	—  	  	Information Relating to Purchasers
	SCHEDULE B	  	—  	  	Defined Terms
	SCHEDULE 4.9	  	—  	  	Changes in Corporate Structure
	SCHEDULE 5.3	  	—  	  	Disclosure Materials
	SCHEDULE 5.4	  	—  	  	Subsidiaries; Affiliates
	SCHEDULE 5.5	  	—  	  	Financial Statements
	SCHEDULE 5.8	  	—  	  	Litigation
	SCHEDULE 5.11	  	—  	  	Licenses, Permits, etc.
	SCHEDULE 5.14	  	—  	  	Use of Proceeds
	SCHEDULE 5.15	  	—  	  	Existing Debt
	SCHEDULE 10.4	  	—  	  	Liens
	SCHEDULE 10.5	  	—  	  	Subsidiary Debt
	EXHIBIT 1(a)	  	—  	  	Form of Series A-1 Senior Note
	EXHIBIT 1(b)	  	—  	  	Form of Series A-2 Senior Note
	EXHIBIT 1(c)	  	—  	  	Form of Series A-3 Senior Note
	EXHIBIT 4.4(a)	  	—  	  	Form of Opinion of Counsel for the Obligors
	EXHIBIT 4.4(b)	  	—  	  	Form of Opinion of Special Counsel for the Purchasers
	EXHIBIT 9.7	  	—  	  	Form of Subsidiary Guaranty

  

 v 

 PATTERSON COMPANIES, INC. 
 PATTERSON MEDICAL HOLDINGS, INC. 
 PATTERSON MEDICAL SUPPLY, INC. 
 PATTERSON DENTAL HOLDINGS, INC. 
 PATTERSON
DENTAL SUPPLY, INC. 
 WEBSTER VETERINARY SUPPLY, INC. 
 WEBSTER MANAGEMENT, LP 
 1031 Mendota Heights Road 
 St. Paul, MN 55120 
 (651) 686-8984 
 Fax: (651) 686-9331 
 $450,000,000 Senior
Notes 
 $50,000,000 4.63% Senior Notes, Series A-1, due March 25, 2013 
 $250,000,000 5.17% Senior Notes, Series A-2, due March 25, 2015 
 $150,000,000 5.75%
Senior Notes, Series A-3, due March 25, 2018 
 Dated as of March 19, 2008 
 TO EACH OF THE PURCHASERS LISTED IN 
 THE ATTACHED SCHEDULE
A: 
 Ladies and Gentlemen: 
 PATTERSON
COMPANIES, INC., a Minnesota corporation (the “Company”), PATTERSON MEDICAL HOLDINGS, INC., a Delaware corporation (“Medical Holdings”), PATTERSON MEDICAL SUPPLY, INC., a Minnesota corporation (“Patterson Medical”),
PATTERSON DENTAL HOLDINGS, INC., a Minnesota corporation (“Dental Holdings”), PATTERSON DENTAL SUPPLY, INC., a Minnesota corporation (“PDSI”), WEBSTER VETERINARY SUPPLY, INC., a Minnesota corporation (“Webster”), and
WEBSTER MANAGEMENT, LP, a Minnesota limited partnership (“Webster Management”), jointly and severally agree with you as follows: 
 1.
AUTHORIZATION OF NOTES. 
 1.1. The Notes. 
 The Obligors have authorized the issue and sale of $450,000,000 aggregate principal amount of its Senior Notes consisting of (i) $50,000,000 aggregate principal amount of their 4.63% Senior Notes, Series A-1, due March 25, 2013
(the “Series A-1 Notes”); (ii) $250,000,000 aggregate principal amount of their 5.17% Senior Notes, Series A-2, due March 25, 2015 (the “Series A-2 Notes”); and (iii) $150,000,000 aggregate principal amount of

 
their 5.75% Senior Notes, Series A-3, due March 25, 2018 (the “Series A-3 Notes” and, collectively with the Series A-1 Notes and the Series
A-2 Notes, the “Notes,” such term to include any such notes issued in substitution therefor pursuant to Section 13 of this Agreement). The Notes shall be substantially in the forms set out in Exhibits 1(a) through 1(c), with such
changes therefrom, if any, as may be approved by you and the Company. Certain capitalized terms used in this Agreement are defined in Schedule B; references to a “Schedule” or an “Exhibit” are, unless otherwise specified, to a
Schedule or an Exhibit attached to this Agreement. 
 1.2. Additional Interest. 
 If the Debt to Adjusted EBITDA Ratio at any time exceeds 3.50 to 1.00, as evidenced by an Officer’s Certificate delivered pursuant to
Section 7.2(a), the interest rate payable on the Notes shall be increased by 0.75% (the “Incremental Interest”). Such Incremental Interest shall begin to accrue on the first day of the fiscal quarter following the fiscal quarter in
respect of which such Certificate was delivered, and shall continue to accrue until the Company has provided an Officer’s Certificate pursuant to Section 7.2(a) demonstrating that, as of the last day of the fiscal quarter in respect of
which such Certificate is delivered, the Debt to Adjusted EBITDA Ratio is not more than 3.50 to 1.00. In the event such Officer’s Certificate is delivered, the Incremental Interest shall cease to accrue on the last day of the fiscal quarter in
respect of which such Certificate is delivered. 
 2. SALE AND PURCHASE OF NOTES. 
 Subject to the terms and conditions of this Agreement, the Obligors will issue and sell to you and each of the other purchasers named in Schedule A (the
“Other Purchasers”), and you and the Other Purchasers will purchase from the Obligors, at the Closing provided for in Section 3, Notes in the principal amount and series specified opposite your names in Schedule A at the purchase
price of 100% of the principal amount thereof. Your obligation hereunder and the obligations of the Other Purchasers are several and not joint obligations and you shall have no liability to any Person for the performance or non-performance by any
Other Purchaser hereunder. 
 3. CLOSING. 
 The sale and purchase of the Notes to be purchased by you and the Other Purchasers shall occur at the offices of Foley & Lardner LLP, 321 North Clark Street, Suite 2800, Chicago, Illinois 60610-4764, at 9:00 a.m., Chicago time, at
a closing (the “Closing”) on March 19, 2008 or on such other Business Day thereafter on or prior to April 15, 2008 as may be agreed upon by the Company and you and the Other Purchasers. At the Closing the Obligors will deliver to
you the Notes to be purchased by you in the form of a single Note (or such greater number of Notes in denominations of at least $100,000 as you may request) dated the date of the Closing and registered in your name (or in the name of your nominee),
against delivery by you to the Obligors or their order of immediately available funds in the amount of the purchase price therefor by wire transfer of immediately available funds for the account of the Company (for the benefit of the Obligors) to
account number 1731 0172 5153 at US Bank National Association, Minneapolis Office, 800 Nicollet Mall, Minneapolis, MN 55402, ABA No. 091000022. If at the Closing any Obligor fails to tender such Notes to you as provided 

  

 2 

 
above in this Section 3, or any of the conditions specified in Section 4 shall not have been fulfilled to your satisfaction, you shall, at your
election, be relieved of all further obligations under this Agreement, without thereby waiving any rights you may have by reason of such failure or such nonfulfillment. 
 4. CONDITIONS TO CLOSING. 
 Your obligation to purchase and pay for the Notes to be sold to you at the
Closing is subject to the fulfillment to your satisfaction, prior to or at the Closing, of the following conditions: 
 4.1. Representations and
Warranties. 
 The representations and warranties of the Obligors in this Agreement shall be correct when made and at the time of the
Closing. 
 4.2. Performance; No Default. 
 The Obligors shall have performed and complied with all agreements and conditions contained in this Agreement required to be performed or complied with by them prior to or at the Closing and after giving effect to the issue and sale of the
Notes (and the application of the proceeds thereof as contemplated by Section 5.14) no Default or Event of Default shall have occurred and be continuing. Neither any Obligor nor any other Subsidiary shall have entered into any transaction since
the date of the Memorandum that would have been prohibited by Section 10 had such Section applied since such date. 
 4.3. Compliance Certificates.

 (a) Officer’s Certificate. Each Obligor shall have delivered to you an Officer’s Certificate, dated
the date of the Closing, certifying that the conditions specified in Sections 4.1, 4.2 and 4.9 have been fulfilled. 
 (b)
Secretary’s Certificate. Each Obligor shall have delivered to you a certificate certifying as to the resolutions attached thereto and other corporate proceedings relating to the authorization, execution and delivery of the Notes and the
Agreement. 
 4.4. Opinions of Counsel. 
 You shall have received opinions in form and substance satisfactory to you, dated the date of the Closing (a) from Briggs and Morgan and from Matthew L. Levitt, Esq., counsel to the Obligors, covering the matters set forth in Exhibit
4.4(a) and covering such other matters incident to the transactions contemplated hereby as you or your counsel may reasonably request (and the Obligors instruct their counsel to deliver such opinion to you) and (b) from Foley & Lardner
LLP, your special counsel in connection with such transactions, substantially in the form set forth in Exhibit 4.4(b) and covering such other matters incident to such transactions as you may reasonably request. 
  

 3 

 4.5. Purchase Permitted By Applicable Law, etc. 
 On the date of the Closing your purchase of Notes shall (i) be permitted by the laws and regulations of each jurisdiction to which you are subject,
without recourse to provisions (such as Section 1405(a)(8) of the New York Insurance Law) permitting limited investments by insurance companies without restriction as to the character of the particular investment, (ii) not violate any
applicable law or regulation (including, without limitation, Regulation U, T or X of the Board of Governors of the Federal Reserve System) and (iii) not subject you to any tax, penalty or liability under or pursuant to any applicable law or
regulation, which law or regulation was not in effect on the date hereof. If requested by you, you shall have received an Officer’s Certificate certifying as to such matters of fact as you may reasonably specify to enable you to determine
whether such purchase is so permitted. 
 4.6. Sale of Other Notes. 
 Contemporaneously with the Closing the Obligors shall sell to the Other Purchasers and the Other Purchasers shall purchase the Notes to be purchased by them at the Closing as specified in Schedule A. 
 4.7. Payment of Special Counsel Fees. 
 Without
limiting the provisions of Section 15.1, the Obligors shall have paid on or before the Closing the fees, charges and disbursements of your special counsel referred to in Section 4.4, to the extent reflected in a statement of such counsel
rendered to the Obligors at least one Business Day prior to the Closing. 
 4.8. Private Placement Number. 
 A Private Placement Number issued by Standard & Poor’s CUSIP Service Bureau (in cooperation with the Securities Valuation Office of the
National Association of Insurance Commissioners) shall have been obtained by Foley & Lardner LLP for each series of the Notes. 
 4.9. Changes in
Corporate Structure. 
 Except as specified in Schedule 4.9, no Obligor shall have changed its jurisdiction of organization or been a
party to any merger or consolidation and shall not have succeeded to all or any substantial part of the liabilities of any other entity, at any time following the date of the most recent financial statements referred to in Schedule 5.5. 

4.10. Funding Instructions. 
 At least three
Business Days prior to the date of the Closing, you shall have received written instructions signed by a Responsible Officer on letterhead of the Company confirming the information specified in Section 3 including (i) the name and address
of the transferee bank, (ii) such transferee bank’s ABA number and (iii) the account name and number into which the purchase price for the Notes is to be deposited. 
  

 4 

 4.11. Credit Agreement. 
 The Obligors shall have amended the Credit Agreement to permit the issuance and sale of the Notes and you shall have received a copy of a fully executed counterpart of such amendment. 
 4.12. Term Loan Agreement. 
 The Obligors shall
deliver a fully executed copy of the Term Loan Agreement containing covenants no more onerous than those in the Credit Agreement promptly following execution thereof. 
 4.13. Proceedings and Documents. 
 All corporate or partnership and other proceedings in connection
with the transactions contemplated by this Agreement and all documents and instruments incident to such transactions shall be satisfactory to you and your special counsel, and you and your special counsel shall have received all such counterpart
originals or certified or other copies of such documents as you or they may reasonably request. 
 5. REPRESENTATIONS AND WARRANTIES OF THE COMPANY. 

 Each Obligor represents and warrants to you that: 
 5.1. Organization; Power and Authority. 
 Each Obligor is a corporation or limited partnership duly organized, validly
existing and in good standing under the laws of its jurisdiction of organization, and is duly qualified as a foreign corporation or foreign limited partnership and is in good standing in each jurisdiction in which such qualification is required by
law, other than those jurisdictions as to which the failure to be so qualified or in good standing could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Each Obligor has the corporate or partnership
power and authority to own or hold under lease the properties it purports to own or hold under lease, to transact the business it transacts and proposes to transact, to execute and deliver this Agreement and the Notes and to perform the provisions
hereof and thereof. 
 5.2. Authorization, etc. 
 This Agreement and the Notes have been duly authorized by all necessary corporate or partnership action on the part of each Obligor, and this Agreement constitutes, and upon execution and delivery thereof each Note will constitute, a legal,
valid and binding obligation of each Obligor enforceable against each Obligor in accordance with its terms, except as such enforceability may be limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws
affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). 
  

 5 

 5.3. Disclosure. 
 The Obligors, through their agent, J.P. Morgan Securities Inc., have delivered to you and each Other Purchaser a copy of a Confidential Private Placement Memorandum, dated February 2008, including the Company’s
Annual Reports on Form 10-K for the fiscal years ended April 28, 2007 and April 29, 2006, the Company’s Quarterly Report on Form 10-Q for the fiscal quarters ended January 26, 2008 and October 27 and July 28, 2007 (the
“Memorandum”), relating to the transactions contemplated hereby. The Memorandum fairly describes, in all material respects, the general nature of the business and principal properties of the Company and its Subsidiaries. Except as
disclosed in Schedule 5.3, this Agreement, the Memorandum, the documents, certificates or other writings delivered to you by or on behalf of the Obligors in connection with the transactions contemplated hereby and the financial statements listed in
Schedule 5.5, taken as a whole, do not contain any untrue statement of a material fact or omit to state any material fact necessary to make the statements therein not misleading in light of the circumstances under which they were made. Except as
disclosed in the Memorandum or as expressly described in Schedule 5.3, or in one of the documents, certificates or other writings identified therein, or in the financial statements listed in Schedule 5.5, since April 28, 2007, there has been no
change in the financial condition, operations, business or properties of the Company or any Subsidiary except changes that individually or in the aggregate could not reasonably be expected to have a Material Adverse Effect. There is no fact known to
any Obligor that could reasonably be expected to have a Material Adverse Effect that has not been set forth herein or in the Memorandum or in the other documents, certificates and other writings delivered to you by or on behalf of the Obligors
specifically for use in connection with the transactions contemplated hereby. 
 5.4. Organization and Ownership of Shares of Subsidiaries; Affiliates.

 (a) Schedule 5.4 contains (except as noted therein) complete and correct lists of: (i) the Company’s
Subsidiaries, showing, as to each Subsidiary, the correct name thereof, the jurisdiction of its organization, and the percentage of shares of each class of its capital stock or similar equity interests outstanding owned by the Company and each other
Subsidiary, (ii) the Company’s Affiliates, other than Subsidiaries, and (iii) the Company’s directors and senior officers. 
 (b) All of the outstanding shares of capital stock or similar equity interests of each Subsidiary shown in Schedule 5.4 as being owned by the Company and its Subsidiaries have been validly issued, are fully paid and
nonassessable and are owned by the Company or another Subsidiary free and clear of any Lien (except as otherwise disclosed in Schedule 5.4). 
 (c) Each Subsidiary identified in Schedule 5.4 is a corporation or other legal entity duly organized, validly existing and in good standing under the laws of its jurisdiction of organization, and is duly qualified as
a foreign corporation or other legal entity and is in good standing in each jurisdiction in which such qualification is required by law, other than those jurisdictions as to which the failure to be so qualified or in good standing could not,
individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Each such Subsidiary has the corporate or other power and authority to own or hold under lease the properties it purports to own or hold under lease and to
transact the business it transacts and proposes to transact. 
  

 6 

 (d) No Subsidiary is a party to, or otherwise subject to, any legal restriction or any
agreement (other than this Agreement, the agreements listed on Schedule 5.4 and customary limitations imposed by corporate or limited partnership law statutes) restricting the ability of such Subsidiary to pay dividends out of profits or make any
other similar distributions of profits to the Company or any of its Subsidiaries that owns outstanding shares of capital stock or similar equity interests of such Subsidiary. 
 5.5. Financial Statements. 
 The Company has delivered to you and each Other Purchaser copies of the
financial statements of the Company and its Subsidiaries listed on Schedule 5.5. All of said financial statements (including in each case the related schedules and notes) fairly present in all material respects the consolidated financial position of
the Company and its Subsidiaries as of the respective dates specified in such Schedule and the consolidated results of their operations and cash flows for the respective periods so specified and have been prepared in accordance with GAAP
consistently applied throughout the periods involved except as set forth in the notes thereto (subject, in the case of any interim financial statements, to normal year-end adjustments). 
 5.6. Compliance with Laws, Other Instruments, etc. 
 The execution, delivery and performance by each
Obligor of this Agreement and the Notes will not (i) contravene, result in any breach of, or constitute a default under, or result in the creation of any Lien in respect of any property of any Obligor or any other Subsidiary under, any
indenture, mortgage, deed of trust, loan, purchase or credit agreement, lease, corporate charter or by-laws, or any other agreement or instrument to which any Obligor or any other Subsidiary is bound or by which any Obligor or any other Subsidiary
or any of their respective properties may be bound or affected, (ii) conflict with or result in a breach of any of the terms, conditions or provisions of any order, judgment, decree, or ruling of any court, arbitrator or Governmental Authority
applicable to any Obligor or any other Subsidiary or (iii) violate any provision of any statute or other rule or regulation of any Governmental Authority applicable to any Obligor or any other Subsidiary. 
 5.7. Governmental Authorizations, etc. 
 No consent,
approval or authorization of, or registration, filing or declaration with, any Governmental Authority is required in connection with the execution, delivery or performance by any Obligor of this Agreement or the Notes. 
 5.8. Litigation; Observance of Agreements, Statutes and Orders. 
 (a) Except as disclosed in Schedule 5.8, there are no actions, suits or proceedings pending or, to the knowledge of any Obligor, threatened against or affecting any Obligor or any other Subsidiary or any property of
any Obligor or any other Subsidiary in any court or before any arbitrator of any kind or before or by any Governmental Authority that, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. 
  

 7 

 (b) Neither any Obligor nor any other Subsidiary is in default under any term of any
agreement or instrument to which it is a party or by which it is bound, or any order, judgment, decree or ruling of any court, arbitrator or Governmental Authority or is in violation of any applicable law, ordinance, rule or regulation (including
Environmental Laws and the USA Patriot Act) of any Governmental Authority, which default or violation, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. 
 5.9. Taxes. 
 The Company and its Subsidiaries have
filed all tax returns that are required to have been filed in any jurisdiction, and have paid all taxes shown to be due and payable on such returns and all other taxes and assessments levied upon them or their properties, assets, income or
franchises, to the extent such taxes and assessments have become due and payable and before they have become delinquent, except for any taxes and assessments (i) the amount of which is not individually or in the aggregate Material or
(ii) the amount, applicability or validity of which is currently being contested in good faith by appropriate proceedings and with respect to which the Company or a Subsidiary, as the case may be, has established adequate reserves in accordance
with GAAP. The Company knows of no basis for any other tax or assessment that could reasonably be expected to have a Material Adverse Effect. The charges, accruals and reserves on the books of the Company and its Subsidiaries in respect of Federal,
state or other taxes for all fiscal periods are adequate. The Federal income tax liabilities of the Company and its Subsidiaries have been determined by the Internal Revenue Service and paid for all fiscal years up to and including the fiscal year
ended April 30, 2005. 
 5.10. Title to Property; Leases. 
 The Company and its Subsidiaries have good and sufficient title to their respective properties that individually or in the aggregate are Material, including all such properties reflected in the most recent audited
balance sheet referred to in Section 5.5 or purported to have been acquired by the Company or any Subsidiary after said date (except as sold or otherwise disposed of in the ordinary course of business), in each case free and clear of Liens
prohibited by this Agreement. All leases that individually or in the aggregate are Material are valid and subsisting and are in full force and effect in all material respects. 
 5.11. Licenses, Permits, etc. 
 Except as disclosed in Schedule 5.11, 
 (a) the Company and its Subsidiaries own or possess all licenses, permits, franchises, authorizations, patents, copyrights, service marks,
trademarks and trade names, or rights thereto, that individually or in the aggregate are Material, without known conflict with the rights of others; 
  

 8 

 (b) to the best knowledge of each Obligor, no product of any Obligor or any other
Subsidiary infringes in any material respect any license, permit, franchise, authorization, patent, copyright, service mark, trademark, trade name or other right owned by any other Person; and 
 (c) to the best knowledge of each Obligor, there is no Material violation by any Person of any right of any Obligor or any other
Subsidiary with respect to any patent, copyright, service mark, trademark, trade name or other right owned or used by the any Obligor or any other Subsidiary. 
 5.12. Compliance with ERISA. 
 (a) The Company and each ERISA Affiliate have operated and administered each
Plan in compliance with all applicable laws except for such instances of noncompliance as have not resulted in and could not reasonably be expected to result in a Material Adverse Effect. Neither the Company nor any ERISA Affiliate has incurred any
liability pursuant to Title I or IV of ERISA or the penalty or excise tax provisions of the Code relating to employee benefit plans (as defined in Section 3 of ERISA), and no event, transaction or condition has occurred or exists that could
reasonably be expected to result in the incurrence of any such liability by the Company or any ERISA Affiliate, or in the imposition of any Lien on any of the rights, properties or assets of the Company or any ERISA Affiliate, in either case
pursuant to Title I or IV of ERISA or to such penalty or excise tax provisions or to Section 401(a)(29) or 412 of the Code, other than such liabilities or Liens as would not be individually or in the aggregate Material. 
 (b) The present value of the aggregate benefit liabilities under each of the Plans (other than Multiemployer Plans), determined as of the
end of such Plan’s most recently ended plan year on the basis of the actuarial assumptions specified for funding purposes in such Plan’s most recent actuarial valuation report, did not exceed the aggregate current value of the assets of
such Plan allocable to such benefit liabilities. The term “benefit liabilities” has the meaning specified in section 4001 of ERISA and the terms “current value” and “present value” have the meaning specified in section
3 of ERISA. 
 (c) The Company and its ERISA Affiliates have not incurred withdrawal liabilities (and are not subject to
contingent withdrawal liabilities) under section 4201 or 4204 of ERISA in respect of Multiemployer Plans that individually or in the aggregate are Material. 
 (d) The expected postretirement benefit obligation (determined as of the last day of the Company’s most recently ended fiscal year in
accordance with Financial Accounting Standards Board Statement No. 106, without regard to liabilities attributable to continuation coverage mandated by section 4980B of the Code) of the Company and its Subsidiaries is not Material. 

(e) The execution and delivery of this Agreement and the issuance and sale of the Notes hereunder will not involve any transaction that
is subject to the prohibitions of 

  

 9 

 
section 406 of ERISA or in connection with which a tax could be imposed pursuant to section 4975(c)(1)(A)-(D) of the Code. The representation by the
Company in the first sentence of this Section 5.12(e) is made in reliance upon and subject to the accuracy of your representation in Section 6.2 as to the sources of the funds used to pay the purchase price of the Notes to be purchased by
you. 
 5.13. Private Offering by the Company. 
 Neither any Obligor nor anyone acting on its behalf has offered the Notes or any similar securities for sale to, or solicited any offer to buy any of the same from, or otherwise approached or negotiated in respect thereof with, any person
other than you and the Other Purchasers and not more than 31 other Institutional Investors, each of which has been offered the Notes at a private sale for investment. Neither any Obligor nor anyone acting on its behalf has taken, or will take, any
action that would subject the issuance or sale of the Notes to the registration requirements of Section 5 of the Securities Act. 
 5.14. Use of
Proceeds; Margin Regulations. 
 The Obligors will apply the proceeds of the sale of the Notes to refinance Debt of the Company as set
forth in Schedule 5.14 and for general corporate purposes, including repurchases of the Company’s Capital Stock and business or asset acquisitions. No part of the proceeds from the sale of the Notes will be used, directly or indirectly, for the
purpose of buying or carrying any margin stock within the meaning of Regulation U of the Board of Governors of the Federal Reserve System (12 CFR 221) so as to involve any Obligor or any holder of Notes in a violation of such Regulation (or so as to
require any holder of Notes to make any filing under such Regulation), or for the purpose of buying or carrying or trading in any securities under such circumstances as to involve any Obligor in a violation of Regulation X of said Board (12 CFR 224)
or to involve any broker or dealer in a violation of Regulation T of said Board (12 CFR 220). Margin stock does not constitute more than 10% of the value of the consolidated assets of the Company and its Subsidiaries and the Obligors do not have any
present intention that margin stock will constitute more than 10% of the value of such assets. As used in this Section, the terms “margin stock” and “purpose of buying or carrying” shall have the meanings assigned to them in said
Regulation U. 
 5.15. Existing Debt; Future Liens. 
 (a) Except as described therein, Schedule 5.15 sets forth a complete and correct list of all outstanding Debt of the Company and its Subsidiaries as of March 1, 2008, since which date there has been no Material
change in the amounts, interest rates, sinking funds, installment payments or maturities of the Debt of the Company or its Subsidiaries. Neither any Obligor nor any other Subsidiary is in default and no waiver of default is currently in effect, in
the payment of any principal or interest on any Debt of any Obligor or any other Subsidiary and no event or condition exists with respect to any Debt of any Obligor or any other Subsidiary that would permit (or that with notice or the lapse of time,
or both, would permit) one or more Persons to cause such Debt to become due and payable before its stated maturity or before its regularly scheduled dates of payment. 
  

 10 

 (b) Except as disclosed in Schedule 5.15, neither any Obligor nor any other Subsidiary
has agreed or consented to cause or permit in the future (upon the happening of a contingency or otherwise) any of its property, whether now owned or hereafter acquired, to be subject to a Lien not permitted by Section 10.4. 
 5.16. Foreign Assets Control Regulations, Anti-Terrorism Order, etc. 
 Neither the sale of the Notes by the Obligors hereunder nor their use of the proceeds thereof will violate (a) the Trading with the Enemy Act, as amended, (b) any of the foreign assets control regulations of
the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) or any enabling legislation or executive order relating thereto, (c) the Anti-Terrorism Order or (d) the United States Foreign Corrupt Practices Act of 1997,
as amended. Without limiting the foregoing, neither any Obligor nor any other Subsidiary (i) is a blocked person described in Section 1 of the Anti-Terrorism Order or (ii) engages in any dealings or transactions, or is otherwise
associated, with any such person. 
 5.17. Status under Certain Statutes. 
 Neither any Obligor nor any other Subsidiary is subject to regulation under the Investment Company Act of 1940, as amended, the ICC Termination Act, as
amended, or the Federal Power Act, as amended. 
 5.18. Environmental Matters. 
 Neither any Obligor nor any other Subsidiary has knowledge of any claim or has received any notice of any claim, and no proceeding has been instituted
raising any claim against any Obligor or any other Subsidiary or any of their respective real properties now or formerly owned, leased or operated by any of them or other assets, alleging any damage to the environment or violation of any
Environmental Laws, except, in each case, such as could not reasonably be expected to result in a Material Adverse Effect. Except as otherwise disclosed to you in writing, 
 (a) neither any Obligor nor any other Subsidiary has knowledge of any facts which would give rise to any claim, public or private, of
violation of Environmental Laws or damage to the environment emanating from, occurring on or in any way related to real properties now or formerly owned, leased or operated by any of them or to other assets or their use, except, in each case, such
as could not reasonably be expected to result in a Material Adverse Effect; 
 (b) neither any Obligor nor any other
Subsidiary has stored any Hazardous Materials on real properties now or formerly owned, leased or operated by any of them and has not disposed of any Hazardous Materials in a manner contrary to any Environmental Laws in each case in any manner that
could reasonably be expected to result in a Material Adverse Effect; and 
 (c) all buildings on all real properties now
owned, leased or operated by any Obligor or any other Subsidiary are in compliance with applicable Environmental Laws, except where failure to comply could not reasonably be expected to result in a Material Adverse Effect. 
  

 11 

 5.19. Solvency of Obligors. 
 After giving effect to the transactions contemplated herein, (i) the present value of the assets of each Obligor, at a fair valuation, is in excess of the amount that will be required to pay its probable
liability on its existing debts as said debts become absolute and matured, (ii) each Obligor has received reasonably equivalent value for issuing and selling the Notes, (iii) the property remaining in the hands of each Obligor is not an
unreasonably small capital, and (iv) each Obligor is able to pay its debts as they mature. 
 6. REPRESENTATIONS OF THE PURCHASERS. 

6.1. Purchase for Investment. 
 You represent that
you are purchasing the Notes for your own account or for one or more separate accounts maintained by you or for the account of one or more pension or trust funds and not with a view to the distribution thereof, provided that the disposition of your
or their property shall at all times be within your or their control. You understand that the Notes have not been registered under the Securities Act and may be resold only if registered pursuant to the provisions of the Securities Act or if an
exemption from registration is available, except under circumstances where neither such registration nor such an exemption is required by law, and that the Obligors are not required to register the Notes. You represent that you are an
“accredited investor” within the meaning of subparagraph (a)(1), (2), (3) or (7) of Rule 501 of Regulation D under the Securities Act 
 6.2. Source of Funds. 
 You represent that at least one of the following statements is an accurate representation as to each
source of funds (a “Source”) to be used by you to pay the purchase price of the Notes to be purchased by you hereunder: 
 (a) the Source is an “insurance company general account” (as the term is defined in the United States Department of Labor’s Prohibited Transaction Exemption (“PTE”) 95-60) in respect of which the reserves and
liabilities (as defined by the annual statement for life insurance companies approved by the National Association of Insurance Commissioners (the “NAIC Annual Statement”) for the general account contract(s) held by or on behalf of any
employee benefit plan together with the amount of the reserves and liabilities for the general account contract(s) held by or on behalf of any other employee benefit plans maintained by the same employer (or affiliate thereof as defined in PTE
95-60) or by the same employee organization in the general account do not exceed 10% of the total reserves and liabilities of the general account (exclusive of separate account liabilities) plus surplus as set forth in the NAIC Annual Statement
filed with such Purchaser’s state of domicile; or 
 (b) the Source is a separate account that is maintained solely in
connection with such Purchaser’s fixed contractual obligations under which the amounts payable, or 

  

 12 

 
credited, to any employee benefit plan (or its related trust) that has any interest in such separate account (or to any participant or beneficiary of such
plan (including any annuitant)) are not affected in any manner by the investment performance of the separate account; or 
 (c) the Source is either (i) an insurance company pooled separate account, within the meaning of PTE 90-1 (issued January 29, 1990), or (ii) a bank collective investment fund, within the meaning of PTE 91-38 (issued
July 12, 1991) and, except as you have disclosed to the Company in writing pursuant to this paragraph (c), no employee benefit plan or group of plans maintained by the same employer or employee organization beneficially owns more than 10% of
all assets allocated to such pooled separate account or collective investment fund; or 
 (d) the Source constitutes assets of
an “investment fund” (within the meaning of Part V of PTE 84-14 (the “QPAM Exemption”) managed by a “qualified professional asset manager” or “QPAM” (within the meaning of Part V of the QPAM Exemption), no
employee benefit plan’s assets that are included in such investment fund, when combined with the assets of all other employee benefit plans established or maintained by the same employer or by an affiliate (within the meaning of Section V(c)(1)
of the QPAM Exemption) of such employer or by the same employee organization and managed by such QPAM, exceed 20% of the total client assets managed by such QPAM, the conditions of Part I(c) and (g) of the QPAM Exemption are satisfied, neither
the QPAM nor a person controlling or controlled by the QPAM (applying the definition of “control” in Section V(e) of the QPAM Exemption) owns a 5% or more interest in the Company and (i) the identity of such QPAM and (ii) the
names of all employee benefit plans whose assets are included in such investment fund have been disclosed to the Company in writing pursuant to this clause (d); or 
 (e) the Source constitutes assets of a “plan(s)” (within the meaning of Section IV of PTE 96-23 (the “INHAM
Exemption”) managed by an “in-house asset manager” or “INHAM” (within the meaning of Part IV of the INHAM exemption), the conditions of Part I(a), (g) and (h) of the INHAM Exemption are satisfied, neither the INHAM
nor a person controlling or controlled by the INHAM (applying the definition of “control” in Section IV(h) of the INHAM Exemption) owns a 5% or more interest in the Company and (i) the identity of such INHAM and (ii) the name(s)
of the employee benefit plan(s) whose assets constitute the Source have been disclosed to the Company in writing pursuant to this clause (e); or 
 (f) the Source is a governmental plan; or 
 (g) the Source is one or more employee benefit
plans, or a separate account or trust fund comprised of one or more employee benefit plans, each of which has been identified to the Company in writing pursuant to this paragraph (g); or 
 (h) the Source does not include assets of any employee benefit plan, other than a plan exempt from the coverage of ERISA. 
  

 13 

 As used in this Section 6.2, the terms “employee benefit plan”, “governmental plan” and
“separate account” shall have the respective meanings assigned to such terms in Section 3 of ERISA. 
 7. INFORMATION AS TO COMPANY. 

 7.1. Financial and Business Information 
 The Company will deliver to each holder of Notes that is an Institutional Investor: 
 (a) Quarterly
Statements — within 60 days after the end of each quarterly fiscal period in each fiscal year of the Company (other than the last quarterly fiscal period of each such fiscal year), duplicate copies of, 
 (i) a consolidated balance sheet of the Company and its Subsidiaries as at the end of such quarter, 
 (ii) consolidated statements of income of the Company and its Subsidiaries for such quarter and (in the case of the second and third
quarters) for the portion of the fiscal year ending with such quarter, and 
 (iii) consolidated statements of cash flows of
the Company and its Subsidiaries for such quarter or (in the case of the second and third quarters) for the portion of the fiscal year ending with such quarter, 
 setting forth in each case in comparative form the figures for the corresponding periods in the previous fiscal year, all in reasonable detail, prepared in accordance with GAAP applicable to quarterly financial statements generally, and
certified by a Senior Financial Officer as fairly presenting, in all material respects, the financial position of the companies being reported on and their results of operations and cash flows, subject to changes resulting from year-end adjustments,
provided that delivery within the time period specified above of copies of the Company’s Quarterly Report on Form 10-Q prepared in compliance with the requirements therefor and filed with the Securities and Exchange Commission shall be deemed
to satisfy the requirements of this Section 7.1(a); 
 (b) Annual Statements — within 120 days after the end
of each fiscal year of the Company, duplicate copies of, 
 (i) a consolidated balance sheet of the Company and its
Subsidiaries, as at the end of such year, and 
 (ii) consolidated statements of income, changes in shareholders’ equity
and cash flows of the Company and its Subsidiaries, for such year, 
 setting forth in each case in comparative form the figures for the
previous fiscal year, all in reasonable detail, prepared in accordance with GAAP, and reported on by an opinion of independent certified public accountants of recognized national standing, which opinion shall state that such financial statements
present fairly, in all material respects, 

  

 14 

 
the financial position of the Company and its consolidated Subsidiaries being reported upon and their results of operations and cash flows and have been
prepared in conformity with GAAP, and that the examination of such accountants in connection with such financial statements has been made in accordance with generally accepted auditing standards, and that such audit provides a reasonable basis for
such opinion in the circumstances, provided that the delivery within the time period specified above of the Company’s Annual Report on Form 10-K for such fiscal year (together with the Company’s annual report to shareholders, if any,
prepared pursuant to Rule 14a-3 under the Exchange Act) prepared in accordance with the requirements therefor and filed with the Securities and Exchange Commission shall be deemed to satisfy the requirements of this Section 7.1(b); 

(c) SEC and Other Reports — promptly upon their becoming available, one copy of (i) each financial statement, report,
notice or proxy statement sent by any Obligor or any other Subsidiary to public securities holders generally, and (ii) each regular or periodic report, registration statement other than registration statements on Form S-8 (without exhibits
except as expressly requested by such holder), or other material filed by any Obligor or any other Subsidiary with the Securities and Exchange Commission; 
 (d) Notice of Default or Event of Default — promptly, and in any event within five Business Days after a Responsible Officer becoming aware of the existence of any Default or Event of Default or that any
Person has given any notice or taken any action with respect to a claimed default hereunder or that any Person has given notice or taken any action with respect to a claimed default of the type referred to in Section 11(f), a written notice
specifying the nature and period of existence thereof and what action the Obligors are taking or propose to take with respect thereto; 
 (e) ERISA Matters — promptly, and in any event within five Business Days after a Responsible Officer becoming aware of any of the following, a written notice setting forth the nature thereof and the
action, if any, that the Company or an ERISA Affiliate proposes to take with respect thereto: 
 (i) with respect to any Plan,
any reportable event, as defined in section 4043(b) of ERISA and the regulations thereunder, for which notice thereof has not been waived pursuant to such regulations as in effect on the date hereof; or 
 (ii) the taking by the PBGC of steps to institute, or the threatening by the PBGC of the institution of, proceedings under section 4042 of
ERISA for the termination of, or the appointment of a trustee to administer, any Plan, or the receipt by the Company or any ERISA Affiliate of a notice from a Multiemployer Plan that such action has been taken by the PBGC with respect to such
Multiemployer Plan; or 
 (iii) any event, transaction or condition that could result in the incurrence of any liability by
the Company or any ERISA Affiliate pursuant to Title I or IV of ERISA or the penalty or excise tax provisions of the Code relating 

  

 15 

 
to employee benefit plans, or in the imposition of any Lien on any of the rights, properties or assets of the Company or any ERISA Affiliate pursuant to
Title I or IV of ERISA or such penalty or excise tax provisions, if such liability or Lien, taken together with any other such liabilities or Liens then existing, could reasonably be expected to have a Material Adverse Effect; 
 (f) Notices from Governmental Authority — promptly, and in any event within 30 days of receipt thereof, copies of any notice
to any Obligor or any other Subsidiary from any Federal or state Governmental Authority relating to any order, ruling, statute or other law or regulation that could reasonably be expected to have a Material Adverse Effect; and 
 (g) Requested Information — with reasonable promptness, such other data and information relating to the business, operations,
affairs, financial condition, assets or properties of any Obligor or any other Subsidiary (including actual copies of the Company’s Forms 10-Q and Forms 10-K) or relating to the ability of any Obligor to perform its obligations hereunder and
under the Notes as from time to time may be reasonably requested by any such holder of Notes. 
 7.2. Officer’s Certificate. 
 Each set of financial statements delivered to a holder of Notes pursuant to Section 7.1(a) or (b) shall be accompanied by a certificate of a
Senior Financial Officer setting forth: 
 (a) Covenant Compliance — the information (including detailed
calculations and reconciliations to GAAP if Agreement Accounting Principles differ from GAAP at the time such compliance certificate is delivered) required in order to establish whether the Company was in compliance with the requirements of
Section 10.1 through Section 10.8, inclusive, during the quarterly or annual period covered by the statements then being furnished (including with respect to each such Section, where applicable, the calculations of the maximum or minimum
amount, ratio or percentage, as the case may be, permissible under the terms of such Sections, and the calculation of the amount, ratio or percentage then in existence); and 
 (b) Event of Default — a statement that such officer has reviewed the relevant terms hereof and has made, or caused to be
made, under his or her supervision, a review of the transactions and conditions of the Company and its Subsidiaries from the beginning of the quarterly or annual period covered by the statements then being furnished to the date of the certificate
and that such review shall not have disclosed the existence during such period of any condition or event that constitutes a Default or an Event of Default or, if any such condition or event existed or exists (including any such event or condition
resulting from the failure of any Obligor or any other Subsidiary to comply with any Environmental Law), specifying the nature and period of existence thereof and what action the Company shall have taken or proposes to take with respect thereto.

  

 16 

 7.3. Electronic Delivery. 
 Financial statements and officers’ certificates required to be delivered by the Company pursuant to Sections 7.1(a), (b) or (c) and Section 7.2 shall be deemed to have been delivered if
(i) such financial statements satisfying the requirements of Section 7.1(a) or (b) and related certificate satisfying the requirements of Section 7.2 are delivered to you and each other holder of Notes by e-mail or (ii) the
Company shall have timely filed such Form 10-Q or Form 10-K, satisfying the requirements of Section 7.1(a) or (b) as the case may be, with the SEC on “EDGAR” and shall have made such Form and the related certificate satisfying
the requirements of Section 7.2 available on its home page on the worldwide web (at the date of this Agreement located at http://www.pattersoncompanies.com) or (iii) such financial statements satisfying the requirements of
Section 7.1(a) or (b) and related certificate satisfying the requirements of Section 7.2 are timely posted by or on behalf of the Company on IntraLinks or on any other similar website to which each holder of Notes has free access or
(iv) the Company shall have filed any of the items referred to in Section 7.1(c) with the SEC on “EDGAR” and shall have made such items available on its home page on the worldwide web or if any of such items are timely posted by
or on behalf of the Company on IntraLinks or on any other similar website to which each holder of Notes has free access; provided however, that in the case of any of clause (i), (ii), (iii) or (iv) the Company shall concurrently with such
filing or posting give notice to each holder of Notes of such posting or filing and provided further, that upon request of any holder, the Company will thereafter deliver written copies of such forms, financial statements and certificates to such
holder. 
 7.4. Inspection. 
 The Company
will permit the representatives of each holder of Notes that is an Institutional Investor: 
 (a) No Default — if
no Default or Event of Default then exists, at the expense of such holder and upon reasonable prior notice to the Company, to visit the principal executive office of the Company, to discuss the affairs, finances and accounts of the Company and its
Subsidiaries with the Company’s officers, and (with the consent of the Company, which consent will not be unreasonably withheld) to visit the other offices and properties of the Company and each Subsidiary, all at such reasonable times and as
often as may be reasonably requested in writing; and 
 (b) Default — if a Default or Event of Default then
exists, at the expense of the Company, to visit and inspect any of the offices or properties of the Company or any Subsidiary, to examine all their respective books of account, records, reports and other papers, to make copies and extracts
therefrom, and to discuss their respective affairs, finances, and accounts with their respective officers and independent public accountants (and by this provision the Company authorizes said accountants to discuss the affairs, finances and accounts
of the Company and its Subsidiaries), all at such times and as often as may be requested. 
  

 17 

 8. PREPAYMENT OF THE NOTES. 
 8.1. No Scheduled Prepayments. 
 No regularly scheduled prepayments are due on the Notes prior to their stated maturity.

 8.2. Optional Prepayments. 
 (a) The Notes. The Obligors may, at their option, upon notice as provided below, prepay at any time all, or from time to time any part of, one or more series of the Notes in an amount not less than $1,000,000 in the aggregate in the
case of a partial prepayment, at 100% of the principal amount so prepaid, plus the Make-Whole Amount determined for the prepayment date with respect to such principal amount. The Company will give each holder of each series of the Notes to be
prepaid written notice of each optional prepayment under this Section 8.2(a) not less than 30 days and not more than 60 days prior to the date fixed for such prepayment. Each such notice shall specify such date, the aggregate principal amount
of each series of the Notes to be prepaid on such date, the principal amount of each Note held by such holder to be prepaid (determined in accordance with Section 8.4), and the interest to be paid on the prepayment date with respect to such
principal amount being prepaid, and shall be accompanied by a certificate of a Senior Financial Officer as to the estimated Make-Whole Amount due in connection with such prepayment (calculated as if the date of such notice were the date of the
prepayment), setting forth the details of such computation. Two Business Days prior to such prepayment, the Company shall deliver to each holder of Notes a certificate of a Senior Financial Officer specifying the calculation of such Make-Whole
Amount as of the specified prepayment date. 
 (b) Offer to Prepay at Par Upon Certain Sales of Assets. 
 (i) Notice and Offer. In the event of any Debt Prepayment Application under Section 10.7 of this Agreement, the Obligors will,
within 10 days of the occurrence of the Transfer (a “Debt Prepayment Transfer”) in respect of which an offer to prepay the Notes (the “Prepayment Offer”) is being made to comply with the requirements for a Debt Prepayment
Application (as set forth in the definition thereof), give notice of such Debt Prepayment Transfer to each holder of Notes. Such notice shall contain, and shall constitute, an irrevocable offer to prepay, at the election of each holder, a portion of
the Notes held by such holder equal to such holder’s Ratable Portion of the Net Proceeds Amount in respect of such Debt Prepayment Transfer on a date specified in such notice (the “Transfer Prepayment Date”) that is not less than 30
days and not more than 60 days after the date of such notice. 
 (ii) Acceptance and Payment. To accept such Prepayment
Offer, a holder of Notes shall cause a notice of such acceptance to be delivered to the Company not later than 10 days prior to the Transfer Prepayment Date. Failure to accept such offer in writing not later than 10 days prior to the Transfer

  

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Prepayment Date shall be deemed to be rejection of the Prepayment Offer. If so accepted by any holder of a Note, such Prepayment Offer equal to not less than
such holder’s Ratable Portion of the Net Proceeds Amount in respect of such Debt Prepayment Transfer, together with any additional amount offered to and accepted by such holder pursuant to the following sentence shall be due and payable on the
Transfer Prepayment Date. If any holder of Notes fails to accept such Prepayment Offer, such holder’s Ratable Portion of the Net Proceeds Amount shall be offered pro rata to each holder of Notes that has accepted such Prepayment Offer. A
Prepayment Offer pursuant to this Section 8.2(b) shall be made at 100% of the principal amount of such Notes being so prepaid, together with interest on such principal amount then being prepaid accrued to the Transfer Prepayment Date.

 (iii) Officer’s Certificate. Each offer to prepay the Notes pursuant to this Section 8.2(b) shall be
accompanied by a certificate, executed by a Senior Financial Officer and dated the date of such offer, specifying: 
 (A) the
Transfer Prepayment Date and the Net Proceeds Amount in respect of the applicable Debt Prepayment Transfer; 
 (B) that such
offer is being made pursuant to Section 8.2(b) and Section 10.7 of this Agreement; 
 (C) the principal amount of
each Note offered to be prepaid; 
 (D) the interest that would be due on each such Note offered to be prepaid, accrued to the
date fixed for payment; and 
 (E) in reasonable detail, the nature of the Transfer giving rise to such Debt Prepayment
Transfer. 
 (c) Prepayments During Defaults or Events of Defaults. Anything in Section 8.2(a) to the contrary
notwithstanding, during the continuance of a Default or Event of Default the Obligors may prepay less than all of the outstanding Notes pursuant to Section 8.2(a) only if such prepayment is allocated among all of the Notes at the time
outstanding in proportion, as nearly as practicable, to the respective unpaid principal amounts thereof not theretofore called for prepayment. 
 (d) Notice Concerning Status of Holders of Notes. Promptly after each prepayment date under Section 8.2(a) or Transfer Prepayment Date under Section 8.2(b) and the making of all prepayments
contemplated thereunder (and, in any event, within 30 days thereafter), the Company will deliver to each holder of Notes a certificate signed by a Senior Financial Officer containing a list of the then current holders of Notes (together with their
addresses) and setting forth as to each such holder the outstanding principal amount of Notes held by such holder at such time. 
  

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 8.3. Mandatory Offer to Prepay Upon Change of Control. 
 (a) Notice of Change of Control or Control Event — The Company will, within five Business Days after any Responsible Officer
has knowledge of the occurrence of any Change of Control or Control Event, give notice of such Change of Control or Control Event to each holder of Notes unless notice in respect of such Change of Control (or the Change of Control contemplated by
such Control Event) shall have been given pursuant to paragraph (b) of this Section 8.3. If a Change of Control has occurred, such notice shall contain and constitute an offer to prepay Notes as described in paragraph (c) of this
Section 8.3 and shall be accompanied by the certificate described in paragraph (g) of this Section 8.3. 
 (b)
Condition to Company Action — The Company will not take any action that consummates or finalizes a Change of Control unless (i) at least 15 Business Days prior to such action it shall have given to each holder of Notes written
notice containing and constituting an offer to prepay Notes accompanied by the certificate described in paragraph (g) of this Section 8.3, and (ii) subject to the provisions of paragraph (d) below, contemporaneously with such
action, it prepays all Notes required to be prepaid in accordance with this Section 8.3. 
 (c) Offer to Prepay
Notes — The offer to prepay Notes contemplated by paragraphs (a) and (b) of this Section 8.3 shall be an offer to prepay, in accordance with and subject to this Section 8.3, all, but not less than all, of the Notes held
by each holder (in this case only, “holder” in respect of any Note registered in the name of a nominee for a disclosed beneficial owner shall mean such beneficial owner) on a date specified in such offer (the “Proposed Prepayment
Date”). If such Proposed Prepayment Date is in connection with an offer contemplated by paragraph (a) of this Section 8.3, such date shall be not less than 30 days and not more than 60 days after the date of such offer. 
 (d) Acceptance; Rejection — A holder of Notes may accept the offer to prepay made pursuant to this Section 8.3 by causing
a notice of such acceptance to be delivered to the Company on or before the date specified in the certificate described in paragraph (g) of this Section 8.3. A failure by a holder of Notes to respond to an offer to prepay made pursuant to
this Section 8.3, or to accept an offer as to all of the Notes held by the holder, within such time period shall be deemed to constitute rejection of such offer by such holder. 
 (e) Prepayment — Prepayment of the Notes to be prepaid pursuant to this Section 8.3 shall be at 100% of the outstanding
principal amount of such Notes, together with interest on such Notes accrued to the date of prepayment and shall not require the payment of any Make-Whole Amount or prepayment premium. The prepayment shall be made on the Proposed Prepayment Date
except as provided in paragraph (f) of this Section 8.3. 
 (f) Deferral Pending Change of Control — The
obligation of the Company to prepay Notes pursuant to the offers required by paragraphs (a) and (b) and accepted in accordance with paragraph (d) of this Section 8.3 is subject to the occurrence of the 

  

 20 

 
Change of Control in respect of which such offers and acceptances shall have been made. In the event that such Change of Control does not occur on or prior
to the Proposed Prepayment Date in respect thereof, the prepayment shall be deferred until and shall be made on the date on which such Change of Control occurs. The Company shall keep each holder of Notes reasonably and timely informed of
(i) any such deferral of the date of prepayment, (ii) the date on which such Change of Control and the prepayment are expected to occur, and (iii) any determination by the Company that efforts to effect such Change of Control have
ceased or been abandoned (in which case the offers and acceptances made pursuant to this Section 8.3 in respect of such Change of Control shall be deemed rescinded). Notwithstanding the foregoing, in the event that the prepayment has not been
made within 90 days after such Proposed Prepayment Date by virtue of the deferral provided for in this Section 8.3(f), the Company shall make a new offer to prepay in accordance with paragraph (c) of this Section 8.3. 
 (g) Officer’s Certificate — Each offer to prepay the Notes pursuant to this Section 8.3 shall be accompanied by a
certificate, executed by a Senior Financial Officer of the Company and dated the date of such offer, specifying: (i) the Proposed Prepayment Date, (ii) that such offer is made pursuant to this Section 8.3, (iii) the principal
amount of each Note offered to be prepaid, (iv) the interest that would be due on each Note offered to be prepaid, accrued to the Proposed Prepayment Date, (v) that the conditions of this Section 8.3 have been fulfilled, (vi) in
reasonable detail, the nature and date or proposed date of the Change of Control and (vii) the date by which any holder of a Note that wishes to accept such offer must deliver notice thereof to the Company, which date shall not be earlier than
three Business Days prior to the Proposed Prepayment Date or, in the case of a prepayment pursuant to Section 8.3(b), the date of the action referred to in Section 8.3(b)(i). 
 8.4. Allocation of Partial Prepayments. 
 In the case of each partial prepayment of Notes of a series
pursuant to Section 8.2(a), the principal amount of the Notes of the series to be prepaid shall be allocated among all of the Notes of such series at the time outstanding in proportion, as nearly as practicable, to the respective unpaid
principal amounts thereof not theretofore called for prepayment. 
 8.5. Maturity; Surrender, etc. 
 In the case of each prepayment of Notes pursuant to this Section 8, the principal amount of each Note to be prepaid shall mature and become due and
payable on the date fixed for such prepayment, together with interest on such principal amount accrued to such date and the applicable Make-Whole Amount, if any. From and after such date, unless the Obligors shall fail to pay such principal amount
when so due and payable, together with the interest and Make-Whole Amount, if any, as aforesaid, interest on such principal amount shall cease to accrue. Any Note paid or prepaid in full shall be surrendered to the Company and canceled and shall not
be reissued, and no Note shall be issued in lieu of any prepaid principal amount of any Note. 
  

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 8.6. Purchase of Notes. 
 The Obligors will not and will not permit any Affiliate to purchase, redeem, prepay or otherwise acquire, directly or indirectly, any of the outstanding Notes except upon the payment or prepayment of the Notes in
accordance with the terms of this Agreement and the Notes. The Company will promptly cancel all Notes acquired by any Obligor or any Affiliate pursuant to any payment, prepayment or purchase of Notes pursuant to any provision of this Agreement and
no Notes may be issued in substitution or exchange for any such Notes. 
 8.7. Make-Whole Amount. 
 The term “Make-Whole Amount” means, with respect to any Note, an amount equal to the excess, if any, of the Discounted Value of the
Remaining Scheduled Payments with respect to the Called Principal of such Note over the amount of such Called Principal, provided that the Make-Whole Amount may in no event be less than zero. For the purposes of determining the Make-Whole Amount,
the following terms have the following meanings: 
 “Called Principal” means, with respect to any Note, the
principal of such Note that is to be prepaid pursuant to Section 8.2(a) or has become or is declared to be immediately due and payable pursuant to Section 12.1, as the context requires. 
 “Discounted Value” means, with respect to the Called Principal of any Note, the amount obtained by discounting all
Remaining Scheduled Payments with respect to such Called Principal from their respective scheduled due dates to the Settlement Date with respect to such Called Principal, in accordance with accepted financial practice and at a discount factor
(applied on the same periodic basis as that on which interest on the Notes is payable) equal to the Reinvestment Yield with respect to such Called Principal. 
 “Reinvestment Yield” means, with respect to the Called Principal of any Note, .50% over the yield to maturity implied by
(i) the yields reported, as of 10:00 A.M. (New York City time) on the second Business Day preceding the Settlement Date with respect to such Called Principal, on the display designated as the “PX1 Screen” on the Bloomberg Financial
Market Service (or such other display as may replace the PX1 Screen on Bloomberg Financial Market Service) for actively traded U.S. Treasury securities having a maturity equal to the Remaining Average Life of such Called Principal as of such
Settlement Date, or (ii) if such yields are not reported as of such time or the yields reported as of such time are not ascertainable (including by way of interpolation), the Treasury Constant Maturity Series Yields reported, for the latest day
for which such yields have been so reported as of the second Business Day preceding the Settlement Date with respect to such Called Principal, in Federal Reserve Statistical Release H.15 (519) (or any comparable successor publication) for
actively traded U.S. Treasury securities having a constant maturity equal to the Remaining Average Life of such Called Principal as of such Settlement Date. Such implied yield will be determined, if necessary, by (a) converting U.S. Treasury
bill quotations to bond-equivalent yields in accordance with accepted financial practice and (b) interpolating linearly between (1) the actively traded U.S. Treasury security with the maturity closest to and greater than the Remaining
Average Life and (2) the actively traded U.S. Treasury security with the maturity closest to and less than the Remaining Average Life. 
  

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 “Remaining Average Life” means, with respect to any Called Principal,
the number of years (calculated to the nearest one-twelfth year) obtained by dividing (i) such Called Principal into (ii) the sum of the products obtained by multiplying (a) the principal component of each Remaining Scheduled Payment
with respect to such Called Principal by (b) the number of years (calculated to the nearest one-twelfth year) that will elapse between the Settlement Date with respect to such Called Principal and the scheduled due date of such Remaining
Scheduled Payment. 
 “Remaining Scheduled Payments” means, with respect to the Called Principal of any Note,
all payments of such Called Principal and interest thereon that would be due after the Settlement Date with respect to such Called Principal if no payment of such Called Principal were made prior to its scheduled due date, provided that if such
Settlement Date is not a date on which interest payments are due to be made under the terms of the Notes, then the amount of the next succeeding scheduled interest payment will be reduced by the amount of interest accrued to such Settlement Date and
required to be paid on such Settlement Date pursuant to Section 8.2(a) or 12.1. 
 “Settlement Date”
means, with respect to the Called Principal of any Note, the date on which such Called Principal is to be prepaid pursuant to Section 8.2(a) or has become or is declared to be immediately due and payable pursuant to Section 12.1, as the
context requires. 
 9. AFFIRMATIVE COVENANTS. 
 The Obligors, jointly and severally, covenant that so long as any of the Notes are outstanding: 
 9.1. Compliance with Law. 
 The Obligors will, and will cause each other Subsidiary to, comply with all laws, ordinances or governmental rules or regulations to which each of them is
subject, including, without limitation, Environmental Laws, and will obtain and maintain in effect all licenses, certificates, permits, franchises and other governmental authorizations necessary to the ownership of their respective properties or to
the conduct of their respective businesses, in each case to the extent necessary to ensure that non-compliance with such laws, ordinances or governmental rules or regulations or failures to obtain or maintain in effect such licenses, certificates,
permits, franchises and other governmental authorizations could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 9.2. Insurance. 
 The Obligors will, and will cause each other Subsidiary to, maintain, with financially sound and reputable
insurers, insurance with respect to their respective properties and businesses against such casualties and contingencies, of such types, on such terms and in such amounts (including deductibles, co-insurance and self-insurance, if adequate reserves
are maintained with respect thereto) as is customary in the case of entities of established reputations engaged in the same or a similar business and similarly situated. 
  

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 9.3. Maintenance of Properties. 
 The Obligors will, and will cause each other Subsidiary to, maintain and keep, or cause to be maintained and kept, their respective properties in good repair, working order and condition (other than ordinary wear and
tear), so that the business carried on in connection therewith may be properly conducted at all times, provided that this Section shall not prevent any Obligor or any other Subsidiary from discontinuing the operation and the maintenance of any of
its properties if such discontinuance is desirable in the conduct of its business and the Company has concluded that such discontinuance could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

 9.4. Payment of Taxes and Claims. 
 The
Obligors will, and will cause each other Subsidiary to, file all income tax or similar tax returns required to be filed in any jurisdiction and to pay and discharge all taxes shown to be due and payable on such returns and all other taxes,
assessments, governmental charges, or levies imposed on them or any of their properties, assets, income or franchises, to the extent such taxes and assessments have become due and payable and before they have become delinquent and all claims for
which sums have become due and payable that have or might become a Lien on properties or assets of any Obligor or any other Subsidiary, provided that neither any Obligor nor any other Subsidiary need pay any such tax or assessment or claims if
(i) the amount, applicability or validity thereof is contested by such Obligor or such Subsidiary on a timely basis in good faith and in appropriate proceedings, and an Obligor or another Subsidiary has established adequate reserves therefor in
accordance with GAAP on its books or (ii) the nonpayment of all such taxes and assessments in the aggregate could not reasonably be expected to have a Material Adverse Effect. 
 9.5. Corporate Existence, etc. 
 Subject to Sections 10.6 and 10.7, each Obligor will at all times
preserve and keep in full force and effect its corporate existence. Subject to Sections 10.6 and 10.7, the Company will at all times preserve and keep in full force and effect the corporate existence of each of its Subsidiaries (unless merged into
the Company or a Subsidiary) and all rights and franchises of the Company and its Subsidiaries unless, in the good faith judgment of the Company, the termination of or failure to preserve and keep in full force and effect such corporate existence,
right or franchise could not, individually or in the aggregate, have a Material Adverse Effect. 
 9.6. Ranking of Notes. 
 The Notes and the Obligors’ obligations under this Agreement will rank at least pari passu with all of the Obligors’ outstanding unsecured
Senior Debt. 
  

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 9.7. Subsidiary Guaranty. 
 (a) Subsidiary Guarantors. The Obligors will not permit any other Material Domestic Subsidiary to become a borrower under, or to
directly or indirectly guarantee any obligations of any Obligor under, any Loan Agreement unless the Obligors cause such Subsidiary, concurrently therewith, to execute and deliver a guaranty in substantially the form of Exhibit 9.7 (the
“Subsidiary Guaranty”), or, if such Subsidiary Guaranty has previously been delivered, to execute and deliver a Joinder to the Subsidiary Guaranty and deliver to each holder of Notes: 
 (i) copies of such directors’ or other authorizing resolutions, charter, bylaws and other constitutive documents of such Subsidiary
as the Required Holders may reasonably request; and 
 (ii) an opinion of counsel covering the authorization, execution,
delivery, compliance with law, no conflict with other documents, no consents and enforceability of the Subsidiary Guaranty against such Subsidiary. 
 (b) Additional Subsidiary Guarantors. If at any time (i) the aggregate assets of all of the Company’s Domestic Subsidiaries that are not Obligors or Subsidiary Guarantors exceeds 20% of Consolidated
Total Assets, or (ii) the Consolidated Adjusted Net Income for the four consecutive fiscal quarters most recently ended of all of the Company’s Domestic Subsidiaries that are not Obligors or Subsidiary Guarantors exceeds 20% of the
Company’s Consolidated Adjusted Net Income for such period, the Company will, within 30 days after its senior management becomes aware (or reasonably should have become aware) of such event, cause additional Domestic Subsidiaries to execute and
deliver a Joinder to the Subsidiary Guaranty so that, after giving effect thereto, the threshold levels in clauses (i) and (ii) above are not exceeded and shall deliver to each holder of Notes the documents listed in Section 9.7(a)(i)
and (ii). 
 10. NEGATIVE COVENANTS. 
 The
Obligors, jointly and severally, covenant that so long as any of the Notes are outstanding: 
 10.1. Debt to Adjusted EBITDA Ratio. 
 The Company will not permit the Debt to Adjusted EBITDA Ratio, as of the end of any fiscal quarter, to be greater than 3.50 to 1.00; provided that, upon
notice by the Obligors to the holders of Notes, as of the last day of each of the four consecutive fiscal quarters immediately following a Qualified Acquisition, such ratio may be greater than 3.50 to 1.00, but in no event greater than 4.00 to 1.00,
if the Company pays the additional interest provided for in Section 1.2. 
  

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 10.2. Interest Coverage. 
 The Company will not permit the ratio of Consolidated Adjusted EBITDA to Consolidated Interest Expense (in each case for the Company’s then most recently completed four fiscal quarters) to be less than 2.50 to
1.00 at any time. 
 10.3. Priority Debt. 
 The Company will not permit Priority Debt to exceed 15% of Consolidated Total Assets (as of the end of the Company’s then most recently completed fiscal quarter) at any time. 
 10.4. Liens. 
 The Company will not, and will not
permit any Subsidiary to, permit to exist, create, assume or incur, directly or indirectly, any Lien on its properties or assets, whether now owned or hereafter acquired, except: 
 (a) Liens for taxes, assessments or governmental charges not then due and delinquent or the nonpayment of which is permitted by
Section 9.4; 
 (b) any attachment or judgment Lien, unless the judgment it secures has not, within 60 days after the
entry thereof, been discharged or execution thereof stayed pending appeal, or has not been discharged within 60 days after the expiration of any such stay; 
 (c) Liens incidental to the conduct of business or the ownership of properties and assets (including landlords’, lessors’, carriers’, warehousemen’s, mechanics’, materialmen’s and other
similar Liens) and Liens to secure the performance of bids, tenders, leases or trade contracts, or to secure statutory obligations (including obligations under workers compensation, unemployment insurance and other social security legislation),
surety or appeal bonds or other Liens of like general nature incurred in the ordinary course of business and not in connection with the borrowing of money; 
 (d) encumbrances in the nature of leases, subleases, zoning restrictions, easements, rights of way, minor survey exceptions and other rights and restrictions of record on the use of real property and defects in title
arising or incurred in the ordinary course of business, which, individually and in the aggregate, do not materially impair the use of the property or assets subject thereto by the Company or such Subsidiary in their business or which relate only to
assets that in the aggregate are not Material; 
 (e) Liens securing Debt existing on property or assets of the Company or any
Subsidiary as of the date of this Agreement that are described in Schedule 10.4; 
 (f) Liens (i) existing on property at
the time of its acquisition by the Company or a Subsidiary and not created in contemplation thereof, whether or not the Debt secured by such Lien is assumed by the Company or a Subsidiary; or (ii) on property (including (Capital Leases) created
contemporaneously with its acquisition or within 180 days of the acquisition or completion of construction or improvements thereof to secure or provide 

  

 26 

 
for all or a portion of the acquisition price or cost of construction or improvements of such property after the date of Closing; or (iii) existing on
property of a Person at the time such Person is merged or consolidated with, or becomes a Subsidiary of, or substantially all of its assets are acquired by, the Company or a Subsidiary and not created in contemplation thereof; provided that such
Liens do not extend to additional property of the Company or any Subsidiary (other than property that is an improvement to or is acquired for specific use in connection with the subject property) and that the aggregate principal amount of Debt
secured by each such Lien does not exceed the lesser of cost of acquisition or construction or the fair market value (determined in good faith by one or more officers of the Company to whom authority to enter into the transaction has been delegated
by the board of directors of the Company) of the property subject thereto; 
 (g) Liens resulting from extensions, renewals or
replacements of Liens permitted by paragraphs (e) and (f), provided that (i) there is no increase in the principal amount or decrease in maturity of the Debt secured thereby at the time of such extension, renewal or replacement,
(ii) any new Lien attaches only to the same property theretofore subject to such earlier Lien and (iii) immediately after such extension, renewal or replacement no Default or Event of Default would exist; 
 (h) Liens securing Debt of a Subsidiary owed to the Company or to a Wholly Owned Subsidiary; 
 (i) Liens arising in connection with a Contract Purchase Facility or a Permitted Receivables Securitization Transaction on the assets
transferred in connection therewith, including proceeds and cash; 
 (j) Liens securing Debt not otherwise permitted by
paragraphs (a) through (i) above, provided that Priority Debt does not exceed 15% of Consolidated Total Assets (as of the end of the Company’s then most recently completed fiscal quarter) at any time. 
 10.5. Subsidiary Debt. 
 The Company will not at any
time permit any Subsidiary (other than an Obligor), directly or indirectly, to create, incur, assume, guarantee, have outstanding, or otherwise become or remain directly or indirectly liable for, any Debt other than: 
 (a) Debt outstanding on the date hereof that is described on Schedule 10.5, and any replacement, renewal, refinancing or extension of any
such Debt that (i) does not exceed the aggregate principal amount (plus accrued interest and any applicable premium and associated fees and expenses) of the Debt being replaced, renewed, refinanced or extended, (ii) does not have a
Weighted Average Life to Maturity at the time of such replacement, renewal, refinancing or extension that is less than the Weighted Average Life to Maturity of the Debt being replaced, renewed, refinanced or extended and (iii) does not rank at
the time of such replacement, renewal, refinancing or extension senior to the Debt being replaced, renewed, refinanced or extended; 
 (b) Debt owed to the Company or a Wholly Owned Subsidiary; 
  

 27 

 (c) Debt of any Subsidiary Guarantor; 
 (d) Debt of a Subsidiary outstanding at the time of its acquisition by the Company, provided that (i) such Debt was not incurred in
contemplation of becoming a Subsidiary, and (ii) at the time of such acquisition and after giving effect thereto, no Default or Event of Default exists or would exist, and any replacement, renewal, refinancing or extension of any such Debt that
(i) does not exceed the aggregate principal amount (plus accrued interest and any applicable premium and associated fees and expenses) of the Debt being replaced, renewed, refinanced or extended, (ii) does not have a Weighted Average Life
to Maturity at the time of such replacement, renewal, refinancing or extension that is less than the Weighted Average Life to Maturity of the Debt being replaced, renewed, refinanced or extended and (iii) does not rank at the time of such
replacement, renewal, refinancing or extension senior to the Debt being replaced, renewed, refinanced or extended; 
 (e) Debt
not otherwise permitted by the preceding clauses (a) through (d), provided that immediately before and after giving effect thereto and to the application of the proceeds thereof, 
 (i) no Default or Event of Default exists, and 
 (ii) Priority Debt does not exceed 15% of Consolidated Total Assets (as of the end of the Company’s then most recently completed
fiscal quarter) at any time. 
 10.6. Mergers, Consolidations, etc. 
 (a) The Company will not consolidate with or merge with any other Person or convey, transfer, sell or lease all or substantially all of
its assets in a single transaction or series of transactions to any Person unless: 
 (i) the successor formed by such
consolidation or the survivor of such merger or the Person that acquires by conveyance, transfer, sale or lease all or substantially all of the assets of the Company as an entirety, as the case may be, is a solvent corporation organized and existing
under the laws of the United States or any state thereof (including the District of Columbia), and, if the Company is not such corporation, such corporation (A) shall have executed and delivered to each holder of any Notes its assumption of the
due and punctual performance and observance of each covenant and condition of this Agreement and the Notes and (B) shall have caused to be delivered to each holder of any Notes an opinion of nationally recognized independent counsel or other
independent counsel reasonably satisfactory to the Required Holders, to the effect that all agreements or instruments effecting such assumption are enforceable in accordance with their terms and comply with the terms hereof; and 
 (ii) immediately before and after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing.

  

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 No such conveyance, transfer, sale or lease of all or substantially all of the assets of the Company
shall have the effect of releasing the Company or any successor corporation that shall theretofore have become such in the manner prescribed in this Section 10.6 from its liability under this Agreement or the Notes. 
 (b) The Company will not permit any Subsidiary that is an Obligor to consolidate with or merge with any other Subsidiary that is not an
Obligor (a “Non-Obligor Subsidiary”) if such Non-Obligor Subsidiary is the successor or survivor, or convey, transfer, sell or lease all or substantially all of its assets in a single transaction or series of transactions to any
Non-Obligor Subsidiary, unless: 
 (i) such Non-Obligor Subsidiary (A) is a solvent corporation organized and existing
under the laws of the United States or any state thereof (including the District of Columbia), (B) shall have executed and delivered to each holder of any Notes its assumption of the due and punctual performance and observance of each covenant
and condition of this Agreement and the Notes and (C) shall have caused to be delivered to each holder of any Notes an opinion of nationally recognized independent counsel or other independent counsel reasonably satisfactory to the Required
Holders, to the effect that all agreements or instruments effecting such assumption are enforceable in accordance with their terms and comply with the terms hereof; and 
 (ii) immediately before and after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing.

 10.7. Sale of Assets. 
 Except as
permitted by Section 10.6, the Company will not, and will not permit any Subsidiary to, make any Asset Disposition unless: 
 (a) in the good faith opinion of the Company, the Asset Disposition is in exchange for consideration having a fair market value at least equal to that of the property exchanged and is in the best interest of the Company or such Subsidiary;

 (b) immediately after giving effect to the Asset Disposition, no Default or Event of Default would exist; and 

(c) immediately after giving effect to the Asset Disposition, the Disposition Value of all property that was the subject of any Asset
Disposition occurring in the then current fiscal year of the Company would not exceed 15% of Consolidated Total Assets as of the end of the then most recently completed fiscal year of the Company; and 
 If the Net Proceeds Amount for any Transfer is applied to a Debt Prepayment Application or a Property Reinvestment Application within 90 days before or 365 days after
such Transfer, then such Transfer, only for the purpose of determining compliance with paragraph (c) of this Section 10.7 as of any date, shall be deemed not to be an Asset Disposition. 
  

 29 

 10.8. Transactions with Affiliates. 
 The Company will not and will not permit any Subsidiary to enter into directly or indirectly any Material transaction or Material group of related transactions (including without limitation the purchase, lease, sale
or exchange of properties of any kind or the rendering of any service) with any Affiliate (other than the Company or another Subsidiary), except in the ordinary course of the Company’s or such Subsidiary’s business and upon fair and
reasonable terms no less favorable to the Company or such Subsidiary than would be obtainable in a comparable arm’s-length transaction with a Person not an Affiliate. 
 11. EVENTS OF DEFAULT. 
 An “Event of Default” shall exist if any of the following
conditions or events shall occur and be continuing: 
 (a) the Obligors default in the payment of any principal, Make-Whole
Amount, if any, on any Note when the same becomes due and payable, whether at maturity or at a date fixed for prepayment or by declaration or otherwise; or 
 (b) the Obligors default in the payment of any interest on any Note for more than five Business Days after the same becomes due and payable; or 
 (c) the Obligors default in the performance of or compliance with any term contained in Section 7.1(d) or in Sections 10.1 through
10.8; or 
 (d) the Obligors default in the performance of or compliance with any term contained herein (other than those
referred to in paragraphs (a), (b) and (c) of this Section 11) and such default is not remedied within 30 days after the earlier of (i) a Responsible Officer obtaining actual knowledge of such default or (ii) the Company
receiving written notice of such default from any holder of a Note; or 
 (e) any representation or warranty made in writing
by or on behalf of the Obligors or by any officer of any Obligor in this Agreement or in any writing furnished in connection with the transactions contemplated hereby or thereby proves to have been false or incorrect in any material respect on the
date as of which made; or 
 (f) (i) any Obligor or any other Subsidiary is in default (as principal or as guarantor or other
surety) in the payment of any principal of or premium or make-whole amount or libor-breakage amount or interest on any Debt that is outstanding in an aggregate principal amount of at least the greater of $50,000,000 or 2% of Consolidated Total
Assets beyond any period of grace provided with respect thereto, or (ii) any Obligor or any other Subsidiary is in default in the performance of or compliance with any term of any evidence of any Debt that is outstanding in an aggregate
principal amount of at least the greater of $50,000,000 or 2% of Consolidated Total Assets or of any mortgage, indenture or other agreement relating thereto or any other condition exists, and as a consequence of such default or condition such Debt
has become, or has been declared (or one or more Persons are entitled to declare such Debt to be), due and payable before its stated maturity or before its regularly scheduled dates of payment, or (iii) as a 

  

 30 

 
consequence of the occurrence or continuation of any event or condition (other than the passage of time or the right of the holder of Debt to convert such
Debt into equity interests), (A) any Obligor or any other Subsidiary has become obligated to purchase or repay Debt before its regular maturity or before its regularly scheduled dates of payment in an aggregate outstanding principal amount of
at least the greater of $50,000,000 or 2% of Consolidated Total Assets or (B) one or more Persons have the right to require any Obligor or any other Subsidiary so to purchase or repay such Debt; or 
 (g) any Obligor or any other Subsidiary (i) is generally not paying, or admits in writing its inability to pay, its debts as they
become due, (ii) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy, for liquidation or to take advantage of any bankruptcy,
insolvency, reorganization, moratorium or other similar law of any jurisdiction, (iii) makes an assignment for the benefit of its creditors, (iv) consents to the appointment of a custodian, receiver, trustee or other officer with similar
powers with respect to it or with respect to any substantial part of its property, (v) is adjudicated as insolvent or to be liquidated, or (vi) takes corporate action for the purpose of any of the foregoing; or 
 (h) a court or governmental authority of competent jurisdiction enters an order appointing, without consent by any Obligor or any other
Subsidiary, a custodian, receiver, trustee or other officer with similar powers with respect to it or with respect to any substantial part of its property, or constituting an order for relief or approving a petition for relief or reorganization or
any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy or insolvency law of any jurisdiction, or ordering the dissolution, winding-up or liquidation of any Obligor or any other Subsidiary, or any such petition
shall be filed against any Obligor or any other Subsidiary and such petition shall not be dismissed within 60 days; or 
 (i)
a final judgment or judgments for the payment of money aggregating more than the greater of $50,000,000 or 2% of Consolidated Total Assets are rendered against one or more of the Obligors and any other Subsidiaries, which judgments are not, within
60 days after entry thereof, bonded, discharged or stayed pending appeal, or are not discharged within 60 days after the expiration of such stay; or 
 (j) if (i) any Plan shall fail to satisfy the minimum funding standards of ERISA or the Code for any plan year or part thereof or a waiver of such standards or extension of any amortization period is sought or
granted under section 412 of the Code, (ii) a notice of intent to terminate any Plan shall have been or is reasonably expected to be filed with the PBGC or the PBGC shall have instituted proceedings under ERISA section 4042 to terminate or
appoint a trustee to administer any Plan or the PBGC shall have notified the Company or any ERISA Affiliate that a Plan may become a subject of any such proceedings, (iii) the aggregate “amount of unfunded benefit liabilities” (within
the meaning of section 4001(a)(18) of ERISA) under all Plans determined in accordance with Title IV of ERISA, shall be greater than the greater of $50,000,000 or 2% of Consolidated Total Assets, (iv) the Company or any ERISA Affiliate shall
have incurred or is reasonably expected to incur any liability pursuant to Title I or IV of ERISA or the 

  

 31 

 
penalty or excise tax provisions of the Code relating to employee benefit plans, (v) the Company or any ERISA Affiliate withdraws from any Multiemployer
Plan, or (vi) the Company or any Subsidiary establishes or amends any employee welfare benefit plan that provides post-employment welfare benefits in a manner that would increase the liability of the Company or any Subsidiary thereunder; and
any such event or events described in clauses (i) through (vi) above, either individually or together with any other such event or events, could reasonably be expected to have a Material Adverse Effect; or 
 (k) any Subsidiary Guarantor defaults in the performance of or compliance with any term contained in the Subsidiary Guaranty or the
Subsidiary Guaranty ceases to be in full force and effect as a result of acts taken by the Company or any Subsidiary Guarantor, except as provided in Section 22, or is declared to be null and void in whole or in material part by a court or
other governmental or regulatory authority having jurisdiction or the validity or enforceability thereof shall be contested by any of the Company or any Subsidiary Guarantor or any of them renounces any of the same or denies that it has any or
further liability thereunder. 
 As used in Section 11(j), the terms “employee benefit plan” and “employee welfare benefit plan”
shall have the respective meanings assigned to such terms in Section 3 of ERISA. 
 12. REMEDIES ON DEFAULT, ETC. 
 12.1. Acceleration. 
 (a) If an Event
of Default with respect to any Obligor described in paragraph (g) or (h) of Section 11 (other than an Event of Default described in clause (i) of paragraph (g) or described in clause (vi) of paragraph (g) by virtue
of the fact that such clause encompasses clause (i) of paragraph (g)) has occurred, all the Notes then outstanding shall automatically become immediately due and payable. 
 (b) If any other Event of Default has occurred and is continuing, holders of at least 51% in principal amount of the Notes at the time
outstanding may at any time at its or their option, by notice or notices to the Obligors, declare all the Notes then outstanding to be immediately due and payable. 
 (c) If any Event of Default described in paragraph (a) or (b) of Section 11 has occurred and is continuing, any holder or
holders of Notes at the time outstanding affected by such Event of Default may at any time, at its or their option, by notice or notices to the Company, declare all the Notes held by it or them to be immediately due and payable. 
 Upon any Notes becoming due and payable under this Section 12.1, whether automatically or by declaration, such Notes will forthwith mature and the
entire unpaid principal amount of such Notes, plus (w) all accrued and unpaid interest thereon and (x) any applicable Make-Whole Amount determined in respect of such principal amount (to the full extent permitted by applicable law), shall
all be immediately due and payable, in each and every case without presentment, demand, protest or further notice, all of which are hereby waived. The Obligors acknowledge, and the parties hereto agree, that each holder of a Note has the right to

  

 32 

 
maintain its investment in the Notes free from repayment by the Obligors (except as herein specifically provided for) and that the provision for payment of a
Make-Whole Amount by the Obligors in the event that the Notes are prepaid or are accelerated as a result of an Event of Default, is intended to provide compensation for the deprivation of such right under such circumstances. 
 12.2. Other Remedies. 
 If any Default or Event of
Default has occurred and is continuing, and irrespective of whether any Notes have become or have been declared immediately due and payable under Section 12.1, the holder of any Note at the time outstanding may proceed to protect and enforce
the rights of such holder by an action at law, suit in equity or other appropriate proceeding, whether for the specific performance of any agreement contained herein or in any Note, or for an injunction against a violation of any of the terms hereof
or thereof, or in aid of the exercise of any power granted hereby or thereby or by law or otherwise. 
 12.3. Rescission. 
 At any time after any Notes have been declared due and payable pursuant to clause (b) or (c) of Section 12.1, the holders of at least 51%
in principal amount of the Notes then outstanding, by written notice to the Obligors, may rescind and annul any such declaration and its consequences if (a) the Obligors have paid all overdue interest on the Notes, all principal of and any
Make-Whole Amount on any Notes that are due and payable and are unpaid other than by reason of such declaration, and all interest on such overdue principal and any Make-Whole Amount and (to the extent permitted by applicable law) any overdue
interest in respect of the Notes, at the Default Rate, (b) all Events of Default and Defaults, other than non-payment of amounts that have become due solely by reason of such declaration, have been cured or have been waived pursuant to
Section 17, and (c) no judgment or decree has been entered for the payment of any monies due pursuant hereto or to the Notes. No rescission and annulment under this Section 12.3 will extend to or affect any subsequent Event of Default
or Default or impair any right consequent thereon. 
 12.4. No Waivers or Election of Remedies, Expenses, etc. 
 No course of dealing and no delay on the part of any holder of any Note in exercising any right, power or remedy shall operate as a waiver thereof or
otherwise prejudice such holder’s rights, powers or remedies. No right, power or remedy conferred by this Agreement or by any Note or the Subsidiary Guaranty upon any holder thereof shall be exclusive of any other right, power or remedy
referred to herein or therein or now or hereafter available at law, in equity, by statute or otherwise. Without limiting the obligations of the Obligors under Section 15, the Obligors will pay to the holder of each Note on demand such further
amount as shall be sufficient to cover all costs and expenses of such holder incurred in any enforcement or collection under this Section 12, including, without limitation, reasonable attorneys’ fees, expenses and disbursements.

  

 33 

 13. REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES. 
 13.1. Registration of Notes. 
 The Company shall keep at its principal executive office a register for
the registration and registration of transfers of Notes. The name and address of each holder of one or more Notes, each transfer thereof and the name and address of each transferee of one or more Notes shall be registered in such register. Prior to
due presentment for registration of transfer, the Person in whose name any Note shall be registered shall be deemed and treated as the owner and holder thereof for all purposes hereof, and the Company shall not be affected by any notice or knowledge
to the contrary. The Company shall give to any holder of a Note that is an Institutional Investor, promptly upon request therefor, a complete and correct copy of the names and addresses of all registered holders of Notes. 
 13.2. Transfer and Exchange of Notes. 
 Upon surrender
of any Note at the principal executive office of the Company for registration of transfer or exchange (and in the case of a surrender for registration of transfer, duly endorsed or accompanied by a written instrument of transfer duly executed by the
registered holder of such Note or his attorney duly authorized in writing and accompanied by the address for notices of each transferee of such Note or part thereof), the Obligors shall execute and deliver within five Business Days, at the
Obligors’ expense (except as provided below), one or more new Notes (as requested by the holder thereof) of the same series in exchange therefor, in an aggregate principal amount equal to the unpaid principal amount of the surrendered Note.
Each such new Note shall be payable to such Person as such holder may request and shall be substantially in the form of Exhibit 1(a), (b), (c), (d) or (e) as appropriate. Each such new Note shall be dated and bear interest from the date to
which interest shall have been paid on the surrendered Note or dated the date of the surrendered Note if no interest shall have been paid thereon. The Company may require payment of a sum sufficient to cover any stamp tax or governmental charge
imposed in respect of any such transfer of Notes. Notes shall not be transferred in denominations of less than $100,000, provided that if necessary to enable the registration of transfer by a holder of its entire holding of Notes, one Note may be in
a denomination of less than $100,000. Any transferee, by its acceptance of a Note registered in its name (or the name of its nominee), shall be deemed to have made the representation set forth in Section 6.2. 
 13.3. Replacement of Notes. 
 Upon receipt by the
Company of evidence reasonably satisfactory to it of the ownership of and the loss, theft, destruction or mutilation of any Note (which evidence shall be, in the case of an Institutional Investor, notice from such Institutional Investor of such
ownership and such loss, theft, destruction or mutilation), and 
 (a) in the case of loss, theft or destruction, of indemnity
reasonably satisfactory to it (provided that if the holder of such Note is, or is a nominee for, an original Purchaser or another Institutional Investor holder of a Note with a minimum net worth of at least $50,000,000, such Person’s own
unsecured agreement of indemnity shall be deemed to be satisfactory), or 
  

 34 

 (b) in the case of mutilation, upon surrender and cancellation thereof, 
 the Obligors at their own expense shall execute and deliver within five Business Days, in lieu thereof, a new Note of the same series, dated and bearing interest from
the date to which interest shall have been paid on such lost, stolen, destroyed or mutilated Note or dated the date of such lost, stolen, destroyed or mutilated Note if no interest shall have been paid thereon. 
 14. PAYMENTS ON NOTES. 
 14.1. Place of Payment. 
 Subject to Section 14.2, payments of principal, Make-Whole Amount, if any, and interest becoming due and payable on the Notes shall be made in
Chicago, Illinois at the principal office of JPMorgan Chase, NA in such jurisdiction. The Obligors may at any time, by notice to each holder of a Note, change the place of payment of the Notes so long as such place of payment shall be either the
principal office of the Company in such jurisdiction or the principal office of a bank or trust company in such jurisdiction. 
 14.2. Home Office
Payment. 
 So long as you or your nominee shall be the holder of any Note, and notwithstanding anything contained in Section 14.1 or
in such Note to the contrary, the Obligors will pay all sums becoming due on such Note for principal, Make-Whole Amount, if any, and interest by the method and at the address specified for such purpose below your name in Schedule A, or by such other
method or at such other address as you shall have from time to time specified to the Company in writing for such purpose, without the presentation or surrender of such Note or the making of any notation thereon, except that upon written request of
the Company made concurrently with or reasonably promptly after payment or prepayment in full of any Note, you shall surrender such Note for cancellation, reasonably promptly after any such request, to the Company at its principal executive office
or at the place of payment most recently designated by the Company pursuant to Section 14.1. Prior to any sale or other disposition of any Note held by you or your nominee you will, at your election, either endorse thereon the amount of
principal paid thereon and the last date to which interest has been paid thereon or surrender such Note to the Company in exchange for a new Note or Notes pursuant to Section 13.2. The Obligors will afford the benefits of this Section 14.2
to any Institutional Investor that is the direct or indirect transferee of any Note purchased by you under this Agreement and that has made the same agreement relating to such Note as you have made in this Section 14.2. 
 15. EXPENSES, ETC. 
 15.1. Transaction Expenses. 
 Whether or not the transactions contemplated hereby are consummated, the Obligors will pay all costs and expenses (including reasonable attorneys’
fees of a special counsel and, if reasonably required, local or other counsel) incurred by you and each Other 

  

 35 

 
Purchaser or holder of a Note in connection with such transactions and in connection with any amendments, waivers or consents under or in respect of this
Agreement or the Notes (whether or not such amendment, waiver or consent becomes effective), including: (a) the costs and expenses incurred in enforcing or defending (or determining whether or how to enforce or defend) any rights under this
Agreement or the Notes, or in responding to any subpoena or other legal process or informal investigative demand issued in connection with this Agreement or the Notes, or by reason of being a holder of any Note, (b) the costs and expenses,
including financial advisors’ fees, incurred in connection with the insolvency or bankruptcy of any Obligor or any other Subsidiary or in connection with any work-out or restructuring of the transactions contemplated hereby and by the Notes,
and (c) the costs and expenses not in excess of $3,000 incurred in connection with the initial filing of this Agreement and all related documents and financial information, and all subsequent annual and interim filings of documents and
financial information related to this Agreement, with the Securities Valuation Office of the National Association of Insurance Commissioners or any successor organization succeeding to the authority thereof. The Obligors will pay, and will save you
and each other holder of a Note harmless from, all claims in respect of any fees, costs or expenses if any, of brokers and finders (other than those retained by you). 
 15.2. Survival. 
 The obligations of the Obligors under this Section 15 will survive the payment
or transfer of any Note, the enforcement, amendment or waiver of any provision of this Agreement or the Notes, and the termination of this Agreement. 
 16. SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT. 
 All representations and warranties contained herein shall
survive the execution and delivery of this Agreement and the Notes, the purchase or transfer by you of any Note or portion thereof or interest therein and the payment of any Note, and may be relied upon by any subsequent holder of a Note, regardless
of any investigation made at any time by or on behalf of you or any other holder of a Note. All statements contained in any certificate or other instrument delivered by or on behalf of any Obligor pursuant to this Agreement shall be deemed
representations and warranties of such Obligor under this Agreement. Subject to the preceding sentence, this Agreement and the Notes embody the entire agreement and understanding between you and the Obligors and supersede all prior agreements and
understandings relating to the subject matter hereof. 
 17. AMENDMENT AND WAIVER. 
 17.1. Requirements. 
 This Agreement, the Notes and the Subsidiary Guaranty may be amended, and the
observance of any term hereof or of the Notes may be waived (either retroactively or prospectively), with (and only with) the written consent of the Obligors and the Required Holders, except that (a) no amendment or waiver of any of the
provisions of Section 1, 2, 3, 4, 5, 6 or 21 hereof, or any defined term (as it is used therein), will be effective as to you unless 

  

 36 

 
consented to by you in writing, and (b) no such amendment or waiver may, without the written consent of the holder of each Note at the time outstanding
affected thereby, (i) subject to the provisions of Section 12 relating to acceleration or rescission, change the amount or time of any prepayment or payment of principal of, or reduce the rate or change the time of payment or method of
computation of interest or of the Make-Whole Amount on, the Notes, (ii) change the percentage of the principal amount of the Notes the holders of which are required to consent to any such amendment or waiver, or (iii) amend any of Sections
8, 11(a), 11(b), 12, 17 or 20. 
 17.2. Solicitation of Holders of Notes. 
 (a) Solicitation. The Company will provide each holder of the Notes (irrespective of the amount of Notes then owned by it) with
sufficient information, sufficiently far in advance of the date a decision is required, to enable such holder to make an informed and considered decision with respect to any proposed amendment, waiver or consent in respect of any of the provisions
hereof or of the Notes. The Company will deliver executed or true and correct copies of each amendment, waiver or consent effected pursuant to the provisions of this Section 17 to each holder of outstanding Notes promptly following the date on
which it is executed and delivered by, or receives the consent or approval of, the requisite holders of Notes. 
 (b)
Payment. The Obligors will not directly or indirectly pay or cause to be paid any remuneration, whether by way of supplemental or additional interest, fee or otherwise, or grant any security or provide other credit support, to any holder of
Notes as consideration for or as an inducement to the entering into by any holder of Notes or any waiver or amendment of any of the terms and provisions hereof unless such remuneration is concurrently paid, or security is concurrently granted, or
other credit support is concurrently provided, on the same terms, ratably to each holder of Notes then outstanding even if such holder did not consent to such waiver or amendment. 
 17.3. Binding Effect, etc. 
 Any amendment or waiver consented to as provided in this Section 17
applies equally to all holders of Notes and is binding upon them and upon each future holder of any Note and upon the Obligors without regard to whether such Note has been marked to indicate such amendment or waiver. No such amendment or waiver will
extend to or affect any obligation, covenant, agreement, Default or Event of Default not expressly amended or waived or impair any right consequent thereon. No course of dealing between the Obligors and the holder of any Note nor any delay in
exercising any rights hereunder or under any Note shall operate as a waiver of any rights of any holder of such Note. As used herein, the term “this Agreement” or “the Agreement” and references thereto shall mean this Agreement
as it may from time to time be amended or supplemented. 
 17.4. Notes held by Obligors, etc. 
 Solely for the purpose of determining whether the holders of the requisite percentage of the aggregate principal amount of Notes then outstanding approved
or consented to any amendment, waiver or consent to be given under this Agreement or the Notes, or have 

  

 37 

 
directed the taking of any action provided herein or in the Notes to be taken upon the direction of the holders of a specified percentage of the aggregate
principal amount of Notes then outstanding, Notes directly or indirectly owned by any Obligor or any of its Affiliates shall be deemed not to be outstanding. 
 18. NOTICES. 
 All notices and communications provided for hereunder shall be in writing and sent (a) by facsimile if
the sender on the same day sends a confirming copy of such notice by a recognized overnight delivery service (charges prepaid), or (b) by registered or certified mail with return receipt requested (postage prepaid), or (c) by a recognized
overnight delivery service (with charges prepaid). Any such notice must be sent: 
 (i) if to you or your nominee, to you or
it at the address specified for such communications in Schedule A, or at such other address as you or it shall have specified to the Company in writing, 
 (ii) if to any other holder of any Note, to such holder at such address as such other holder shall have specified to the Company in writing, or 
 (iii) if to the Company or to the Obligors, to the Company at its address set forth at the beginning hereof to the attention of the Chief
Financial Officer, or at such other address as the Company shall have specified to the holder of each Note in writing. 
 Notices under this Section 18
will be deemed given only when actually received. 
 19. REPRODUCTION OF DOCUMENTS. 
 This Agreement and all documents relating thereto, including, without limitation, (a) consents, waivers and modifications that may hereafter be
executed, (b) documents received by you at the Closing (except the Notes themselves), and (c) financial statements, certificates and other information previously or hereafter furnished to you, may be reproduced by you by any photographic,
photostatic, microfilm, microcard, miniature photographic or other similar process and you may destroy any original document so reproduced. The Obligors agree and stipulate that, to the extent permitted by applicable law, any such reproduction shall
be admissible in evidence as the original itself in any judicial or administrative proceeding (whether or not the original is in existence and whether or not such reproduction was made by you in the regular course of business) and any enlargement,
facsimile or further reproduction of such reproduction shall likewise be admissible in evidence. This Section 19 shall not prohibit the Obligors or any other holder of Notes from contesting any such reproduction to the same extent that it could
contest the original, or from introducing evidence to demonstrate the inaccuracy of any such reproduction. 
 20. CONFIDENTIAL INFORMATION.

 For the purposes of this Section 20, “Confidential Information” means information delivered to you by or on behalf of
any Obligor or any other Subsidiary in 

  

 38 

 
connection with the transactions contemplated by or otherwise pursuant to this Agreement that is proprietary in nature and that was clearly marked or labeled
or otherwise adequately identified when received by you as being confidential information of such Obligor or such Subsidiary, provided that such term does not include information that (a) was publicly known or otherwise known to you prior to
the time of such disclosure, (b) subsequently becomes publicly known through no act or omission by you or any person acting on your behalf, (c) otherwise becomes known to you other than through disclosure by any Obligor or any other
Subsidiary or (d) constitutes financial statements delivered to you under Section 7.1 that are otherwise publicly available. You will maintain the confidentiality of such Confidential Information in accordance with procedures adopted by
you in good faith to protect confidential information of third parties delivered to you, provided that you may deliver or disclose Confidential Information to (i) your directors, trustees, officers, employees, agents, attorneys and affiliates
(to the extent such disclosure reasonably relates to the administration of the investment represented by your Notes), (ii) your financial advisors and other professional advisors who agree to hold confidential the Confidential Information
substantially in accordance with the terms of this Section 20, (iii) any other holder of any Note, (iv) any Institutional Investor to which you sell or offer to sell such Note or any part thereof or any participation therein (if such
Person has agreed in writing prior to its receipt of such Confidential Information to be bound by the provisions of this Section 20), (v) any Person from which you offer to purchase any security of any Obligor (if such Person has agreed in
writing prior to its receipt of such Confidential Information to be bound by the provisions of this Section 20), (vi) any federal or state regulatory authority having jurisdiction over you, (vii) the National Association of Insurance
Commissioners or any similar organization, or any nationally recognized rating agency that requires access to information about your investment portfolio or (viii) any other Person to which such delivery or disclosure may be necessary or
appropriate (w) to effect compliance with any law, rule, regulation or order applicable to you, (x) in response to any subpoena or other legal process, (y) in connection with any litigation to which you are a party or (z) if an
Event of Default has occurred and is continuing, to the extent you may reasonably determine such delivery and disclosure to be necessary or appropriate in the enforcement or for the protection of the rights and remedies under your Notes and this
Agreement. Each holder of a Note, by its acceptance of a Note, will be deemed to have agreed to be bound by and to be entitled to the benefits of this Section 20 as though it were a party to this Agreement. On reasonable request by the Obligors
in connection with the delivery to any holder of a Note of information required to be delivered to such holder under this Agreement or requested by such holder (other than a holder that is a party to this Agreement or its nominee), such holder will
enter into an agreement with the Obligors embodying the provisions of this Section 20. 
 Notwithstanding anything to the contrary set
forth herein or in any other written or oral understanding or agreement to which the parties hereto are parties or by which they are bound, the parties acknowledge and agree that (i) any obligations of confidentiality contained herein and
therein do not apply and have not applied from the commencement of discussions between the parties to the tax treatment and tax structure of the Notes (and any related transactions or arrangements), and (ii) each party (and each of its
employees, representatives, or other agents) may disclose to any and all persons, without limitation of any kind, the tax treatment and tax structure of the Notes and all materials of any kind (including opinions or other tax analyses) that are
provided to such party relating to such tax treatment and tax structure, all within the meaning of Treasury Regulations Section 1.6011-4. 
  

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 21. SUBSTITUTION OF PURCHASER. 
 You shall have the right to substitute any one of your Affiliates as the purchaser of the Notes that you have agreed to purchase hereunder, by written notice to the Obligors, which notice shall be signed by both you
and such Affiliate, shall contain such Affiliate’s agreement to be bound by this Agreement and shall contain a confirmation by such Affiliate of the accuracy with respect to it of the representations set forth in Section 6. Upon receipt of
such notice, wherever the word “you” is used in this Agreement (other than in this Section 21), such word shall be deemed to refer to such Affiliate in lieu of you. In the event that such Affiliate is so substituted as a purchaser
hereunder and such Affiliate thereafter transfers to you all of the Notes then held by such Affiliate, upon receipt by the Company of notice of such transfer, wherever the word “you” is used in this Agreement (other than in this
Section 21), such word shall no longer be deemed to refer to such Affiliate, but shall refer to you, and you shall have all the rights of an original holder of the Notes under this Agreement. 
 22. RELEASE OF OBLIGOR OR SUBSIDIARY GUARANTOR. 
 (a) Release Due to Asset Disposition. Each holder of a Note fully releases and discharges, immediately and without any further act, any Obligor, other than the Company, from its obligations under this Agreement
and the Notes, or any Subsidiary Guarantor from the Subsidiary Guaranty, if such Obligor or Subsidiary Guarantor ceases to be a Subsidiary as a result of an Asset Disposition permitted by Section 10.7, provided that, at the time of such release
and discharge, the Company delivers to each holder of Notes a certificate of a Responsible Officer certifying that such Obligor or Subsidiary Guarantor is being so released pursuant to this Section 22(a) and setting forth the facts and
calculations necessary to establish compliance with Section 10.7. 
 (b) Release Due to Release Under Loan
Agreements. Each holder of a Note fully releases and discharges, immediately and without any further act, any Obligor, other than the Company, from its obligations under this Agreement and the Notes, or any Subsidiary Guarantor from the
Subsidiary Guaranty at such time as the banks party to all Loan Agreements to which such Obligor or Subsidiary Guarantor is a party release and discharge such Subsidiary Guarantor from any Guaranties thereunder or as a borrower thereunder; provided
that, 
 (i) no Default or Event of Default exists or will exist immediately following such release and discharge of such
Obligor or Subsidiary Guarantor; 
 (ii) if any fee or other consideration is paid or given to any holder of Debt under any
Loan Agreement in connection with such release and discharge of an Obligor or Subsidiary Guarantor, other than the repayment of all or a portion of such Debt under any applicable Loan Agreement, each holder of a Note receives equivalent
consideration on a pro rata basis; and 
 (iii) at the time of such release and discharge, the Company delivers to each holder
of Notes a certificate of a Responsible Officer certifying (x) that such Obligor or Subsidiary Guarantor has been or is being released and discharged as guarantor or borrower under and in respect of all applicable Loan Agreements and
(y) as to the matters set forth in clauses (i) and (ii). 
  

 40 

 23. MISCELLANEOUS. 
 23.1. Successors and Assigns. 
 All covenants and other agreements contained in this Agreement by or on behalf of any of the
parties hereto bind and inure to the benefit of their respective successors and assigns (including, without limitation, any subsequent holder of a Note) whether so expressed or not. 
 23.2. Payments Due on Non-Business Days. 
 Anything in this Agreement or the Notes to the contrary
notwithstanding (but without limiting the requirement in Section 8.3 that the notice of any optional prepayment specify a Business Day as the date fixed for such prepayment), any payment of principal of or Make-Whole Amount or interest on any
Note that is due on a date other than a Business Day shall be made on the next succeeding Business Day without including the additional days elapsed in the computation of the interest payable on such next succeeding Business Day; provided that if
the maturity date of any Note is a date other than a Business Day, the payment otherwise due on such maturity date shall be made on the next succeeding Business Day and shall include the additional days elapsed in the computation of interest payable
on such next succeeding Business Day. 
 23.3. Accounting Terms. 
 All accounting terms used herein that are not expressly defined in this Agreement have the meanings respectively given to them in accordance with GAAP. Except as otherwise specifically provided herein, (i) all
computations made pursuant to this Agreement shall be made in accordance with Agreement Accounting Principles and (ii) all financial statements shall be prepared in accordance with GAAP. 
 23.4. Severability. 
 Any provision of this Agreement
that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall (to the full extent permitted by law) not invalidate or render unenforceable such provision in any other jurisdiction. 
 23.5. Construction. 
 Each covenant contained herein shall be construed (absent express provision to the contrary) as being
independent of each other covenant contained herein, so that compliance with any one covenant shall not (absent such an express contrary provision) be deemed to excuse compliance with any other covenant. Where any provision herein refers to action
to be taken by any Person, or which such Person is prohibited from taking, such provision shall be applicable whether such action is taken directly or indirectly by such Person. 
  

 41 

 23.6. Counterparts. 
 This Agreement may be executed in any number of counterparts, each of which shall be an original but all of which together shall constitute one instrument. Each counterpart may consist of a number of copies hereof,
each signed by less than all, but together signed by all, of the parties hereto. 
 23.7. Governing Law; Submission to Jurisdiction. 
 This Agreement shall be construed and enforced in accordance with, and the rights of the parties shall be governed by, the law of the State of Illinois
excluding choice-of-law principles of the law of such State that would require the application of the laws of a jurisdiction other than such State. 
 Each Obligor irrevocably submits to the jurisdiction of the courts of the State of Illinois and of the courts of the United States of America having jurisdiction in the State of Illinois for the purpose of any legal action or proceeding in
any such court with respect to, or arising out of, this Agreement or the Notes. Each Obligor consents to process being served in any suit, action or proceeding by mailing a copy thereof by registered or certified mail, postage prepaid, return
receipt requested, to the address of such Obligor specified in or designated pursuant to this Agreement. Each Obligor agrees that such service upon receipt (i) shall be deemed in every respect effective service of process upon it in any such
suit, action or proceeding and (ii) shall, to the fullest extent permitted by law, be taken and held to be valid personal service upon and personal delivery to such Obligor. 
 Remainder of page intentionally left blank. 
  

 42 

 If you are in agreement with the foregoing, please sign the form of agreement on the accompanying
counterpart of this Agreement and return it to the Company, whereupon the foregoing shall become a binding agreement between you and the Obligors. 
  

					
	Very truly yours,
	
	PATTERSON COMPANIES, INC.
		
	By:	 	 /s/ R. Stephen Armstrong

	Name:	 	R. Stephen Armstrong
	Title:	 	Executive Vice President, Chief Financial Officer and Treasurer
	
	PATTERSON MEDICAL HOLDINGS, INC.
	PATTERSON MEDICAL SUPPLY, INC.
	PATTERSON DENTAL HOLDINGS, INC.
	PATTERSON DENTAL SUPPLY, INC.
	WEBSTER VETERINARY SUPPLY, INC.
		
	By:	 	 /s/ R. Stephen Armstrong

	Name:	 	R. Stephen Armstrong
	Title:	 	Vice President and Treasurer
	
	WEBSTER MANAGEMENT, LP
		
	By:	 	 WEBSTER VETERINARY SUPPLY, INC.,
 its General
Partner

			
		 	By:	 	 /s/ R. Stephen Armstrong

		 	Name:	 	R. Stephen Armstrong
		 	Title:	 	Vice President and Treasurer

  

 S-1 

 The foregoing is agreed 
 to
as of the date thereof. 
 METROPOLITAN LIFE INSURANCE COMPANY 
 METROPOLITAN TOWER LIFE INSURANCE COMPANY 
 by Metropolitan Life Insurance Company, its Investment Manager 
 METLIFE INSURANCE COMPANY OF CONNECTICUT 
 by Metropolitan Life Insurance
Company, its Investment Manager 
  

			
	By:	 	 /s/ Judith A. Gulotta

	Name:	 	Judith A. Gulotta
	Title:	 	Managing Director

  

 S-2 

			
	By:	 	PPM America, Inc., as attorney in fact,
		 	on behalf of Jackson National Life Insurance Company
		
	By:	 	 /s/ Luke S. Stifflear

	Name:	 	Luke S. Stifflear
	Title:	 	Managing Director

  

 S-3 

			
	HARTFORD LIFE INSURANCE COMPANY
	HARTFORD LIFE AND ANNUITY INSURANCE COMPANY
		
	By:	 	Hartford Investment Management Company
	Their:	 	Agent and Attorney-in-Fact
		
	By:	 	 /s/ Daniel C. Leimbach

	Name:	 	Daniel C. Leimbach
	Title:	 	Senior Vice President
	
	PHYSICIANS LIFE INSURANCE COMPANY
		
	By:	 	Hartford Investment Management Company
	Its:	 	Investment Advisor
		
	By:	 	 /s/ Daniel C. Leimbach

	Name:	 	Daniel C. Leimbach
	Title:	 	Senior Vice President

  

 S-4 

			
	THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY
		
	By:	 	 /s/ Richard A. Strait

	Name:	 	Richard A. Strait
	Title:	 	Its Authorized Representative

  

 S-5 

			
	TEACHERS INSURANCE AND ANNUITY ASSOCIATION OF AMERICA
		
	By:	 	 /s/ Ho Young Lee

	Name:	 	Ho Young Lee
	Title:	 	Director

  

 S-6 

					
	THE PRUDENTIAL INSURANCE COMPANY OF AMERICA
		
	By:	 	 /s/ Julia Buthman

		 	Vice President
	
	PRUDENTIAL RETIREMENT INSURANCE AND ANNUITY COMPANY
		
	By:	 	 Prudential Investment Management, Inc.,
 as
investment manager

			
		 	By:	 	 /s/ Julia Buthman

		 		 	Vice President
	
	PHYSICIANS MUTUAL INSURANCE COMPANY
		
	By:	 	Prudential Private Placement Investors, L.P. (as Investment Advisor)
		
	By:	 	Prudential Private Placement Investors, Inc.
		 	(as its General Partner)
			
		 	By:	 	 /s/ Julia Buthman

		 		 	Vice President

  

 S-7 

			
	MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY
	By Babson Capital Management LLC, as Investment Adviser
		
	By:	 	 /s/ Emeka O. Onukwugha

	Name:	 	Emeka O. Onukwugha
	Title:	 	Managing Director
	
	HAKONE FUND II LLC
	By Babson Capital Management LLC, as Investment Manager
		
	By:	 	 /s/ Emeka O. Onukwugha

	Name:	 	Emeka O. Onukwugha
	Title:	 	Managing Director
	
	C.M. LIFE INSURANCE COMPANY
	By Babson Capital Management LLC, as Investment Sub-Adviser
		
	By:	 	 /s/ Emeka O. Onukwugha

	Name:	 	Emeka O. Onukwugha
	Title:	 	Managing Director

  

 S-8 

			
	THRIVENT FINANCIAL FOR LUTHERANS
		
	By:	 	 /s/ Alan D. Onstad

	Name:	 	Alan D. Onstad
	Title:	 	Senior Director

  

 S-9 

			
	ING LIFE INSURANCE AND ANNUITY COMPANY
	ING USA ANNUITY AND LIFE INSURANCE COMPANY
	RELIASTAR LIFE INSURANCE COMPANY SECURITY LIFE OF DENVER INSURANCE COMPANY
		
	By:	 	ING Investment Management LLC, as Agent
		
	By:	 	 /s/ James V. Wittich

	Name:	 	James V. Wittich
	Title:	 	Senior Vice President

  

 S-10 

			
	NEW YORK LIFE INSURANCE COMPANY
		
	By:	 	 /s/ John P. Rafferty

	Name:	 	John P. Rafferty
	Title:	 	Vice President
	
	NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION
		
	By:	 	New York Life Investment Management LLC, Its Investment Manager
		
	By:	 	 /s/ John P. Rafferty

	Name:	 	John P. Rafferty
	Title:	 	Corporate Vice President

  

 S-11 

							
	PRINCIPAL LIFE INSURANCE COMPANY
		
	By:	 	Principal Global Investors, LLC a Delaware limited liability company,
		 	its authorized signatory
			
		 	By:	 	/s/ Ann P. Hesselink, Assistant General Counsel
			
		 	By:	 	/s/ James C. Fifield, Assistant General Counsel

  

 S-12 

			
	STATE FARM LIFE INSURANCE COMPANY
		
	By:	 	 /s/ Julie Pierce

	Name:	 	Julie Pierce
	Title:	 	Senior Investment Officer
		
	By:	 	 /s/ Jeffrey T. Attwood

	Name:	 	Jeffrey T. Attwood
	Title:	 	Investment Officer
	
	STATE FARM LIFE AND ACCIDENT ASSURANCE COMPANY
		
	By:	 	 /s/ Julie Pierce

	Name:	 	Julie Pierce
	Title:	 	Senior Investment Officer
		
	By:	 	 /s/ Jeffrey T. Attwood

	Name:	 	Jeffrey T. Attwood
	Title:	 	Investment Officer

  

 S-13 

			
	BANKERS LIFE AND CASUALTY COMPANY
	COLONIAL PENN LIFE INSURANCE COMPANY
	CONSECO LIFE INSURANCE COMPANY
	WASHINGTON NATIONAL INSURANCE COMPANY
		
	By:	 	40|86 Advisors, Inc. acting as Investment Advisor
		
	By:	 	 /s/ Timothy L. Powell

	Name:	 	Timothy L. Powell
	Title:	 	Vice President

  

 S-14 

			
	GENWORTH LIFE AND ANNUITY INSURANCE COMPANY
		
	By:	 	 /s/ Stephen DeMotto

	Name:	 	Stephen DeMotto
	Title:	 	Investment Officer

  

 S-15 

			
	THE GUARDIAN LIFE INSURANCE COMPANY OF AMERICA
		
	By:	 	 /s/ Brian Keating

	Name:	 	Brian Keating
	Title:	 	Managing Director
	
	THE GUARDIAN INSURANCE & ANNUITY COMPANY, INC.
		
	By:	 	 /s/ Brian Keating

	Name:	 	Brian Keating
	Title:	 	Managing Director
	
	BERKSHIRE LIFE INSURANCE COMPANY OF AMERICA
		
	By:	 	 /s/ Brian Keating

	Name:	 	Brian Keating
	Title:	 	Managing Director

  

 S-16 

			
	PACIFIC LIFE INSURANCE COMPANY
		
	By:	 	 /s/ Cathy Schwartz

	Name:	 	Cathy Schwartz
	Title:	 	Assistant Vice President
		
	By:	 	 /s/ Diane W. Dales

	Name:	 	Diane W. Dales
	Title:	 	Assistant Secretary

  

 S-17 

			
	MERRILL LYNCH LIFE INSURANCE COMPANY
		
	By:	 	 /s/ Debra R. Thompson

	Name:	 	Debra R. Thompson
	Title:	 	Vice-President
	
	TRANSAMERICA LIFE INSURANCE COMPANY
		
	By:	 	 /s/ Debra R. Thompson

	Name:	 	Debra R. Thompson
	Title:	 	Vice-President
	
	TRANSAMERICA LIFE BERMUDA LIMITED HONG KONG
		
	By:	 	 /s/ Debra R. Thompson

	Name:	 	Debra R. Thompson
	Title:	 	Vice-President

  

 S-18 

			
	ALLIANZ LIFE INSURANCE COMPANY OF NORTH AMERICA
		
	By:	 	Allianz of America, Inc. as the authorized signatory and investment manager
		
	By:	 	 /s/ Gary Brown

	Name:	 	Gary Brown
	Title:	 	Chief Investment Officer – Fixed Income

  

 S-19 

			
	AMERICAN UNITED LIFE INSURANCE COMPANY
		
	By:	 	 /s/ Kent R. Adams

	Name:	 	Kent R. Adams
	Title:	 	V.P. Fixed Income Securities
	
	THE STATE LIFE INSURANCE COMPANY
	By American United Life Insurance Company its agent
		
	By:	 	 /s/ Kent R. Adams

	Name:	 	Kent R. Adams
	Title:	 	V.P. Fixed Income Securities
	
	PIONEER MUTUAL LIFE INSURANCE COMPANY
	By American United Life Insurance Company its agent
		
	By:	 	 /s/ Kent R. Adams

	Name:	 	Kent R. Adams
	Title:	 	V.P. Fixed Income Securities

  

 S-20 

			
	MODERN WOODMEN OF AMERICA
		
	By:	 	 /s/ Nick S. Coin

	Name:	 	Nick S. Coin
	Title:	 	Treasurer & Investment Manager

  

 S-21 

					
	CUNA MUTUAL INSURANCE SOCIETY CUMIS INSURANCE SOCIETY, INC.
		
	By:	 	 MEMBERS Capital Advisors, Inc.,
 acting as
Investment Advisor

			
		 	By:	 	 /s/ James E. McDonald, Jr.

		 	Name:	 	James E. McDonald, Jr.
		 	Title:	 	Director, Private Placements

  

 S-22 

			
	TRAVELERS CASUALTY AND SURETY COMPANY OF AMERICA
		
	By:	 	 /s/ David D. Rowland

	Name:	 	David D. Rowland
	Title:	 	Sr. Vice President

  

 S-23 

			
	KNIGHTS OF COLUMBUS
		
	By:	 	 /s/ Donald R. Kehoe

	Name:	 	Donald R. Kehoe
	Title:	 	Supreme Secretary

  

 S-24 

			
	PHOENIX LIFE INSURANCE COMPANY
		
	By:	 	 /s/ John H. Beers

	Name:	 	John H. Beers
	Title:	 	Vice President
	
	PHL VARIABLE INSURANCE COMPANY
		
	By:	 	 /s/ John H. Beers

	Name:	 	John H. Beers
	Title:	 	Vice President

  

 S-25 

			
	COMPANION LIFE INSURANCE COMPANY
		
	By:	 	 /s/ Curtis R. Caldwell

	Name:	 	Curtis R. Caldwell
	Title:	 	Authorized Signer

  

 S-26 

			
	THE OHIO NATIONAL LIFE INSURANCE COMPANY
	OHIO NATIONAL LIFE ASSURANCE CORPORATION
		
	By:	 	 /s/ Jed R. Martin

	Name:	 	Jed R. Martin
	Title:	 	Vice President, Private Placements

  

 S-27 

			
	SOUTHERN FARM BUREAU LIFE INSURANCE COMPANY
		
	By:	 	 /s/ Carol Robertson, CFA

	Name:	 	Carol Robertson, CFA
	Title:	 	Senior Portfolio Manager

  

 S-28 

			
	AMERITAS LIFE INSURANCE CORP.
	By	 	Summit Investment Advisors, Inc., as Agent
		
	By:	 	 /s/ Andrew S. White

		 	Andrew S. White, Managing Director – Private Placements
	
	THE UNION CENTRAL LIFE INSURANCE COMPANY
	By:	 	Summit Investment Advisors, Inc., as Agent
		
	By:	 	 /s/ Andrew S. White

		 	Andrew S. White, Managing Director – Private Placements

  

 S-29 

			
	STATE OF WISCONSIN INVESTMENT BOARD
		
	By:	 	 /s/ Christopher P. Prestigiacomo

	Name:	 	Christopher P. Prestigiacomo
	Title:	 	Portfolio Manager

  

 S-30 

 SCHEDULE B 
 DEFINED TERMS 
 As used herein, the following terms have the respective meanings set forth
below or set forth in the Section hereof following such term: 
 “Affiliate” means, at any time, and with respect to any
Person, (a) any other Person that at such time directly or indirectly through one or more intermediaries Controls, or is Controlled by, or is under common Control with, such first Person, and (b) any Person beneficially owning or holding,
directly or indirectly, 10% or more of any class of voting or equity interests of the Company or any Subsidiary or any corporation of which the Company and its Subsidiaries beneficially own or hold, in the aggregate, directly or indirectly, 10% or
more of any class of voting or equity interests. As used in this definition, “Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether
through the ownership of voting securities, by contract or otherwise. Unless the context otherwise clearly requires, any reference to an “Affiliate” is a reference to an Affiliate of the Company. Notwithstanding anything in the foregoing
to the contrary, a Person that (i) would be an Affiliate of the Company solely by virtue of its ownership of voting or equity interests of the Company and (ii) is eligible pursuant to Rule 13d-1(b) under the Exchange Act to file a
statement with the Securities and Exchange Commission on Schedule 13G, shall not be deemed to be an Affiliate. 
 “Agreement
Accounting Principles” means GAAP, provided that with respect to the calculations for purposes of determining compliance with the covenants set forth in Sections 10.1 through 10.5 and Section 10.7, such term means generally
accepted accounting principles in effect as of the date of the Closing applied on a basis consistent with that used in the preparation of the most recent audited consolidated financial statements of the Company listed in Schedule 5.5. 
 “Anti-Terrorism Order” means Executive Order 13224 of September 23, 2001 Blocking Property and Prohibiting Transactions With
Persons Who Commit, Threaten to Commit, or Support Terrorism (66 Fed. Reg. 49079 (2001)). 
 “Asset
Disposition” means any Transfer except: 
 (a) any 
 (i) Transfer from a Subsidiary to the Company or a Wholly Owned Subsidiary; 
 (ii) Transfer from the Company to a Wholly Owned Subsidiary; and 
 (iii) Transfer from the Company to a Subsidiary (other than a Wholly Owned Subsidiary) or from a Subsidiary to another Subsidiary (other
than a Wholly Owned Subsidiary), which in either case is for fair market value, 
 so long as immediately before and immediately after the
consummation of any such Transfer and after giving effect thereto, no Default or Event of Default exists; 
  

 Schedule B 

 (b) any Transfer made in the ordinary course of business; or 
 (c) any Transfer by the Company or a Subsidiary pursuant to a Contract Purchase Facility or as part of a Permitted Receivables
Securitization Transaction. 
 “Business Day” means (a) for the purposes of Section 8.7 only, any day other than a
Saturday, a Sunday or a day on which commercial banks in New York City are required or authorized to be closed, and (b) for the purposes of any other provision of this Agreement, any day other than a Saturday, a Sunday or a day on which
commercial banks in Chicago, Illinois, St. Paul, Minnesota or New York City are required or authorized to be closed. 
 “Capital
Lease” means, at any time, a lease with respect to which the lessee is required concurrently to recognize the acquisition of an asset and the incurrence of a liability in accordance with Agreement Accounting Principles. 
 “Capital Stock” means (a) in the case of a corporation, capital stock, (b) in the case of a partnership, partnership interests
(whether general or limited) (c) in the case of a limited liability company, membership interests and (d) any other interest or participation in a Person that confers on the holder the right to receive a share of the profits and losses of,
or distributions of assets of, such Person. 
 “Change of Control” means an event or series of events by which any person or
“group” (within the meaning of Sections 13(d) and 14(d)(2) of the Exchange Act) (such person or persons hereinafter referred to as an “Acquiring Person”) becomes the “beneficial owner” (as defined in Rule 13d-3 under
the Exchange Act), directly or indirectly, of more than 50% of the voting power of the then outstanding Voting Stock of the Company; provided that, notwithstanding the foregoing, a “Change of Control” shall not be deemed to have occurred
if the Company (or the Acquiring Person if either (x) the Company is no longer in existence or (y) the Acquiring Person has acquired all or substantially all of the assets thereof) shall have an Investment Grade Rating immediately
following such Acquiring Person becoming the “beneficial owner” or consummating such acquisition. 
 “Closing” is
defined in Section 3. 
 “Code” means the Internal Revenue Code of 1986, as amended from time to time, and the rules
and regulations promulgated thereunder from time to time. 
 “Company” means Patterson Companies, Inc., a Minnesota
corporation. 
 “Confidential Information” is defined in Section 20. 
 “Consolidated Adjusted EBITDA” means, for any period and for any Person, the sum of Consolidated EBIT for such period, plus consolidated
depreciation and amortization for such period. If, during the period for which Consolidated Adjusted EBITDA of the Company is being calculated, the Company or any Subsidiary has (i) acquired sufficient Capital Stock of a Person to cause such
Person to become a Subsidiary; (ii) acquired all or substantially all of the assets or operations, division or line of business of a person; or (iii) disposed of one or more 

  

 2 
 Schedule B 

 
Subsidiaries (or disposed of all or substantially all of the assets or operations, division or line of business of a Subsidiary or other person),
Consolidated Adjusted EBITDA shall be calculated after giving pro forma effect thereto as if all of such acquisitions and dispositions had occurred on the first day of such period. 
 “Consolidated Adjusted Net Income” means, for any period and for any Person, the Consolidated Net Income of such Person, provided that,
if, during the period for which Consolidated Net Income of the Company is being calculated, the Company or any Subsidiary has (i) acquired sufficient Capital Stock of a Person to cause such Person to become a Subsidiary; (ii) acquired all
or substantially all of the assets or operations, division or line of business of a Person; or (iii) disposed of one or more Subsidiaries (or disposed of all or substantially all of the assets or operations, division or line of business of a
Subsidiary or other person), Consolidated Net Income shall be calculated after giving pro forma effect thereto as if all of such acquisitions and dispositions had occurred on the first day of such period. 
 “Consolidated Debt” means, as of any date, the outstanding Debt of the Company and its Subsidiaries on such date, determined on a
consolidated basis in accordance with Agreement Accounting Principles. 
 “Consolidated EBIT” means, for any period,
Consolidated Net Income plus, to the extent deducted from revenues in determining Consolidated Net Income, (i) Consolidated Interest Expense, and (ii) expense for federal, state, local and foreign income and franchise taxes paid or
accrued, all calculated for such Person and its Subsidiaries on a consolidated basis in accordance with Agreement Accounting Principles. 
 “Consolidated Interest Expense” means, for any period, the consolidated interest expense of the Company and its Subsidiaries for such period (including capitalized interest and the interest component of Capital Leases),
determined on a consolidated basis in accordance with Agreement Accounting Principles. 
 “Consolidated Net Income” means,
for any period and for any Person, the net income (or loss) of such Person and its Subsidiaries, determined on a consolidated basis in accordance with Agreement Accounting Principles, excluding any non-cash charges, non-cash employee stock option
expense and any gains that are unusual, non-recurring or extraordinary. 
 “Consolidated Total Assets” means, as of any
date, the total assets of the Company and its Subsidiaries as of such date, determined on a consolidated basis in accordance with Agreement Accounting Principles. 
 “Contract Purchase Facility” means (a) the Receivables Sale Agreement dated as of May 10, 2002, among the originators named therein and PDC Funding Company, LLC, as buyer and the Amended and
Restated Receivables Purchase Agreement dated as of October 7, 2004, among PDC Funding Company, LLC, the Company, the Conduits party thereto, the financial institutions party thereto and Bank One, as agent, as such agreements may be amended,
restated, extended or otherwise modified from time to time, (b) the Contract Purchase Agreement, dated as of April 27, 2007, among the Company, PDC Funding Company II, LLC, U.S. Bank National Association, individually and as agent, and
certain buyers identified therein, 

  

 3 
 Schedule B 

 
and the Receivables Sale Agreement dated as of April 27, 2007, among the originators named therein and PDC Funding Company II, LLC, as such Contract
Purchase Agreement and Receivables Sale Agreement may be amended, restated, extended or otherwise modified from time to time, (c) any comparable additional or replacement facility made available to the Company or any Subsidiary, provided that
any of such facilities: (i) provides for the sale by the Company or such Subsidiary of rights to payment arising under Customer Installment Contracts; (ii) provides for a purchase price in an amount that represents the reasonably
equivalent value of the assets subject thereto (determined as of the date of such sale); (iii) evidences the intent of the parties that for accounting and all other purposes, such sale is to be treated as a sale by the Company or a Subsidiary,
as the case may be, and a purchase by such institution(s) or special purpose entity (and not as a lending transaction); (iv) provides for the delivery of opinions of outside counsel to the effect that, under, applicable bankruptcy, insolvency
and similar laws (subject to assumptions and qualifications customary for opinions of such type), such transaction will be treated as a true sale and not as a lending transaction and that the assets of any purchasing special purpose entity will not
be consolidated with the assets of the selling entity, the Company or any Affiliate of the Company; (v) provides for the parties to such transaction to, and such parties do, treat such transaction as a sale for all other accounting purposes;
and (vi) provides that such sale is without recourse to the Company or such Subsidiary, except to the extent of normal and customary conditions and rights of limited recourse that are consistent with the opinions referred to in clause
(iv) and with the treatment of such sale as a true sale for accounting purposes. 
 “Control Event” means the execution
by the Company of a definitive written agreement that, when fully performed by the parties thereto, would result in a Change of Control. 
 “Credit Agreement” means the Amended and Restated Credit Agreement dated as of November 25, 2007 among the Company and the other Obligors, the other Subsidiary borrowers and lenders from time to time party thereto, and
JPMorgan Chase Bank, National Association, as administrative agent, as such agreement may be amended, restated, supplemented, refinanced, increased or reduced from time to time, and any successor credit agreement or similar facility. 
 “Customer Installment Contract” means a contract between the Company or any Subsidiary and a customer providing for the installment
sale, licensing or secured financing of equipment, furnishings or computer software. 
 “Debt” with respect to any Person
means, at any time, without duplication, 
 (a) its liabilities for borrowed money and its redemption obligations in respect
of mandatorily redeemable preferred stock; 
 (b) its liabilities for the deferred purchase price of property acquired by such
Person (excluding accounts payable and other accrued liabilities arising in the ordinary course of business but including all liabilities created or arising under any conditional sale or other title retention agreement with respect to any such
property); 
  

 4 
 Schedule B 

 (c) all liabilities appearing on its balance sheet in accordance with Agreement
Accounting Principles in respect of Capital Leases; 
 (d) all liabilities for borrowed money secured by any Lien with respect
to any property owned by such Person (whether or not it has assumed or otherwise become liable for such liabilities); 
 (e)
all of its liabilities in respect of letters of credit or instruments serving a similar function issued or accepted for its account by banks and other financial institutions (whether or not representing obligations for borrowed money); 

(f) Swaps of such Person; 
 (g) any recourse liability of such Person under or in connection with a Contract Purchase Facility or Permitted Receivables Securitization Transaction; and 
 (h) any Guaranty of such Person with respect to liabilities of a type described in any of clauses (a) through (g) hereof.

 “Debt to Adjusted EBITDA Ratio” means the ratio of Consolidated Debt (as of the end of any fiscal quarter of the Company)
to Consolidated Adjusted EBITDA (for the Company’s most recently completed four fiscal quarters). 
 “Debt Prepayment
Application” means, with respect to any Transfer of property, the application by the Company or a Subsidiary of cash in an amount equal to the Net Proceeds Amount with respect to such Transfer to pay Senior Debt other than Senior Debt owing
to the Company, any Subsidiary or any of their respective Affiliates; provided that in the course of making such application the Company shall offer to prepay each outstanding Note at par, in accordance with Section 8.2(b), in a principal
amount that equals the Ratable Portion of the holder of such Note in respect of such Transfer. If any holder of a Note fails to accept such offer of prepayment, then, for purposes of the preceding sentence only, the Company nevertheless will be
deemed to have paid Senior Debt in an amount equal to the Ratable Portion of the holder of such Note in respect of such Transfer. 
 “Debt Prepayment Transfer” is defined in Section 8.2(b)(i). 
 “Default” means an event or
condition the occurrence or existence of which would, with the lapse of time or the giving of notice or both, become an Event of Default. 
 “Default Rate” means that rate of interest that is the greater of (i) 2% per annum above the rate of interest stated in clause (a) of the first paragraph of the Notes or (ii) 2% over the rate of interest
publicly announced by JPMorgan Chase, N.A. in Chicago, Illinois as its “base” or “prime” rate. 
 “Dental
Holdings” is defined in the preamble. 
 “Disposition Value” means, at any time, with respect to any property:

  

 5 
 Schedule B 

 (a) in the case of property that does not constitute Subsidiary Stock, the book value
thereof, valued at the time of such disposition in good faith by the Company; and 
 (b) in the case of property that
constitutes Subsidiary Stock, an amount equal to that percentage of book value of the assets of the Subsidiary that issued such stock as is equal to the percentage that the book value of such Subsidiary Stock represents of the book value of all of
the outstanding capital stock of such Subsidiary (assuming, in making such calculations, that all securities convertible into such capital stock are so converted and giving full effect to all transactions that would occur or be required in
connection with such conversion) determined at the time of the disposition thereof, in good faith by the Obligors. 
 “Domestic
Subsidiary” means any Subsidiary of a Person that is not a Foreign Subsidiary. 
 “Environmental Laws” means any
and all Federal, state, local, and foreign statutes, laws, regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants, franchises, licenses, agreements or governmental restrictions relating to pollution and the
protection of the environment or the release of any materials into the environment, including but not limited to those related to hazardous substances or wastes, air emissions and discharges to waste or public systems. 
 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time, and the rules and regulations
promulgated thereunder from time to time in effect. 
 “ERISA Affiliate” means any trade or business (whether or not
incorporated) that is treated as a single employer together with the Company under section 414 of the Code. 
 “Event of
Default” is defined in Section 11. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended.

 “Foreign Subsidiary” means any Subsidiary of a Person that is not organized under the laws of the United States or any
state thereof (including the District of Columbia) and any Subsidiary of such Person regardless of where it is organized. 
 “GAAP” means generally accepted accounting principles as in effect from time to time in the United States of America. 
 “Governmental Authority” means 
 (a) the government of 
 (i) the United States of America or any State or other political subdivision thereof, or 
  

 6 
 Schedule B 

 (ii) any jurisdiction in which the Company or any Subsidiary conducts all or any part of
its business, or which asserts jurisdiction over any properties of the Company or any Subsidiary, or 
 (b) any entity
exercising executive, legislative, judicial, regulatory or administrative functions of, or pertaining to, any such government. 
 “Guaranty” means, with respect to any Person, any obligation (except the endorsement in the ordinary course of business of negotiable instruments for deposit or collection) of such Person guaranteeing or in effect
guaranteeing any indebtedness, dividend or other obligation of any other Person in any manner, whether directly or indirectly, including (without limitation) obligations incurred through an agreement, contingent or otherwise, by such Person:

 (a) to purchase such indebtedness or obligation or any property constituting security therefor; 
 (b) to advance or supply funds (i) for the purchase or payment of such indebtedness or obligation, or (ii) to maintain any
working capital or other balance sheet condition or any income statement condition of any other Person or otherwise to advance or make available funds for the purchase or payment of such indebtedness or obligation; 
 (c) to lease properties or to purchase properties or services primarily for the purpose of assuring the owner of such indebtedness or
obligation of the ability of any other Person to make payment of the indebtedness or obligation; or 
 (d) otherwise to assure
the owner of such indebtedness or obligation against loss in respect thereof. 
 In any computation of the indebtedness or other liabilities of the obligor
under any Guaranty, the indebtedness or other obligations that are the subject of such Guaranty shall be assumed to be direct obligations of such obligor. 
 “Hazardous Material” means any and all pollutants, toxic or hazardous wastes or any other substances that might pose a hazard to health or safety, the removal of which may be required or the
generation, manufacture, refining, production, processing, treatment, storage, handling, transportation, transfer, use, disposal, release, discharge, spillage, seepage, or filtration of which is or shall be restricted, prohibited or penalized by any
applicable law (including, without limitation, asbestos, urea formaldehyde foam insulation and polycholorinated biphenyls). 
 “holder” means, with respect to any Note, the Person in whose name such Note is registered in the register maintained by the Company pursuant to Section 13.1. 
 “INHAM Exemption” is defined in Section 6.2(e). 
 “Institutional Investor” means (a) any original purchaser of a Note, (b) any holder of more than $2,000,000 in aggregate principal amount of the Notes at the time outstanding, and
(c) any bank, trust company, savings and loan association or other financial institution, any pension plan, any investment company, any insurance company, any broker or dealer, or any other similar financial institution or entity, regardless of
legal form. 
  

 7 
 Schedule B 

 “Interest Payment Date” means, with respect to any Series B Note, the dates specified in
Exhibit 1(c). 
 “Investment Grade Rating” in respect of any Person means, at the time of determination, at least one of the
following ratings of its senior, unsecured long-term indebtedness for borrowed money pari passu with the Notes: (i) by Standard & Poor’s Rating Services, a division of The McGraw-Hill Companies, or any successor thereof
(“S&P”), “BBB-” or better, (ii) by Moody’s Investors Service, Inc., or any successor thereof (“Moody’s”), “Baa3” or better, or (iii) by another rating agency of recognized national
standing, an equivalent or better rating. 
 “Lien” means, with respect to any Person, any mortgage, lien, pledge, charge,
security interest or other encumbrance, or any interest or title of any vendor, lessor, lender or other secured party to or of such Person under any conditional sale or other title retention agreement or Capital Lease, upon or with respect to any
property or asset of such Person (including in the case of stock, stockholder agreements, voting trust agreements and all similar arrangements). 
 “Loan Agreements” means, collectively, the Credit Agreement, the Term Loan Agreement and any other credit, term loan, note purchase or similar agreement providing for loans or other extensions of credit, including the
issuance and sale of senior notes, to the Company and one or more of its Subsidiaries and under or pursuant to which one or more of the Company’s subsidiaries is a borrower, obligor or guarantor. 
 “Make-Whole Amount” is defined in Section 8.7. 
 “Material” means material in relation to the business, operations, affairs, financial condition, assets or properties of the Company and its Subsidiaries taken as a whole. 
 “Material Adverse Effect” means a material adverse effect on (a) the business, operations, affairs, financial condition, assets or
properties of the Company and its Subsidiaries taken as a whole, or (b) the ability of any Obligor to perform its obligations under this Agreement and the Notes, or (c) the ability of any Subsidiary Guarantor to perform its obligation
under the Subsidiary Guaranty, or (d) the validity or enforceability of this Agreement, the Notes or the Subsidiary Guaranty. 
 “Material Domestic Subsidiary” means (i) PDSI, Webster, Webster Management, Patterson Medical, Medical Holdings and Dental Holdings, and (ii) any other Domestic Subsidiary of the Company (other than an SPV) that
meets one or both of the following criteria: (i) such Domestic Subsidiary’s total assets, determined on a consolidated basis with its Subsidiaries is 15% or more of the Consolidated Total Assets; or (ii) such Domestic
Subsidiary’s Consolidated Adjusted Net Income is 15% or more of the Company’s Consolidated Adjusted Net Income, in each case for the four consecutive fiscal quarters most recently ended. 
  

 8 
 Schedule B 

 “Medical Holdings” is defined in the preamble. 
 “Memorandum” is defined in Section 5.3. 
 “Multiemployer Plan” means any Plan that is a “multiemployer plan” (as such term is defined in section 4001(a)(3) of ERISA). 
 “NAIC Annual Statement” is defined in Section 6.2(a). 
 “Net Proceeds Amount” means, with respect to any Transfer of any property by any Person, an amount equal to: 
 (a) the aggregate amount of the consideration (valued at the fair market value of such consideration at the time of the consummation of
such Transfer) received by such Person in respect of such Transfer, minus 
 (b) all ordinary and reasonable out-of-pocket
costs and expenses actually incurred by such Person in connection with such Transfer. 
 “Non-Obligor Subsidiary” is defined
in Section 10.6(b). 
 “Notes” is defined in Section 1. 
 “Obligors” means the Company and its Wholly Owned Subsidiaries, Medical Holdings, Patterson Medical, PDSI, Dental Holdings, Webster and
Webster Management, and any other Subsidiary that assumes the obligations of an Obligor pursuant to Section 10.6(b). 
 “Officer’s Certificate” means a certificate of a Senior Financial Officer or of any other officer of the Company whose responsibilities extend to the subject matter of such certificate. 
 “Other Purchasers” is defined in Section 2. 
 “Patterson Medical” is defined in the preamble. 
 “PBGC” means the Pension
Benefit Guaranty Corporation referred to and defined in ERISA or any successor thereto. 
 “PDSI” is defined in the
preamble. 
 “Permitted Receivables Securitization Transaction” means a transaction or series of transactions in which the
Company or any Subsidiary sells receivables, other than those derived from Customer Installment Contracts, directly or indirectly to a special purpose entity, satisfying the following criteria: (i) such sale is pursuant to an agreement or
agreements evidencing the intent of the parties that for accounting and all other purposes, such sale is to be treated as a sale by the Company or a Subsidiary, as the case may be, and a purchase by such special purpose entity (and not as a lending
transaction); (ii) the agreement(s) referred to in clause (i) provide for the delivery of opinions of outside counsel to the effect that, under, 

  

 9 
 Schedule B 

 
applicable bankruptcy, insolvency and similar laws (subject to assumptions and qualifications customary for opinions of such type), such transaction will be
treated as a true sale and not as a lending transaction and that the assets of any purchasing special purpose entity will not be consolidated with the assets of the selling entity, the Company or any Affiliate of the Company; (iii) the parties
to such transaction shall treat such transaction as a sale for all other accounting purposes; (iv) the purchase price shall be an amount that represents the reasonably equivalent value of the receivables or other assets subject thereto
(determined as of the date of such sale); (v) such sale shall be without recourse to the Company or such Subsidiary, except to the extent of normal and customary conditions that are consistent with the opinion referred to in clause (ii); and
(vi) the aggregate principal amount outstanding in connection with all such transactions does not exceed $200,000,000 at any time. 
 “Person” means an individual, partnership, corporation, limited liability company, association, trust, unincorporated organization, or a government or agency or political subdivision thereof. 
 “Plan” means an “employee benefit plan” (as defined in section 3(3) of ERISA) that is or, within the preceding five years, has
been established or maintained, or to which contributions are or, within the preceding five years, have been made or required to be made, by the Company or any ERISA Affiliate or with respect to which the Company or any ERISA Affiliate may have any
liability. 
 “Prepayment Offer” is defined in Section 8.2(b)(i). 
 “Priority Debt” means, as of any date, the sum (without duplication) of (a) outstanding unsecured Debt of Subsidiaries (other than
Obligors) not otherwise permitted by Sections 10.5(a) through (d) and (b) Debt of the Company and its Subsidiaries secured by Liens not otherwise permitted by Sections 10.4(a) through (i). 
 “property” or “properties” means, unless otherwise specifically limited, real or personal property of any kind,
tangible or intangible, choate or inchoate. 
 “Property Reinvestment Application” means, with respect to any Transfer of
property, the application of an amount equal to the Net Proceeds Amount with respect to such Transfer to the acquisition by the Company or any Subsidiary of operating assets of the Company or such Subsidiary to be used in the principal business of
such Person as conducted immediately prior to such Transfer. 
 “Purchaser” means each purchaser listed in Schedule A.

 “Qualified Acquisition” means any acquisition of either or both the Capital Stock or assets of any Person or Persons (or
any portion thereof), or the last to occur of a series of such acquisitions consummated within a period of six consecutive months, if the aggregate amount of Debt incurred by one or more of the Obligors and their Subsidiaries to finance the purchase
price of, or assumed by one or more of them in connection with the acquisition of, such stock and property is at least $100,000,000. 
  

 10 
 Schedule B 

 “QPAM Exemption” is defined in Section 6.2(d). 
 “Ratable Portion” means, in respect of any holder of any Note and any Transfer contemplated by the definition of Debt Prepayment
Application, an amount equal to the product of (x) the Net Proceeds Amount being applied to the payment of Senior Debt in connection with such Transfer multiplied by (y) a fraction the numerator of which is the outstanding principal amount
of such Note at the time of such Transfer and the denominator of which is the aggregate principal amount of Senior Debt of the Company and its Subsidiaries at the time of such Transfer determined on a consolidated basis in accordance with GAAP.

 “Required Holders” means, at any time, the holders of at least 51% in principal amount of the Notes at the time
outstanding (exclusive of Notes then owned by any Obligor or any of its Affiliates). 
 “Responsible Officer” means any
Senior Financial Officer and any other officer of the Company with responsibility for the administration of the relevant portion of this Agreement. 
 “Securities Act” means the Securities Act of 1933, as amended from time to time. 
 “Senior Debt”
means (a) any Debt of any Obligor, other than any Debt that is in any manner subordinated in right of payment or security in any respect to the Notes, and (b) any Debt of any Subsidiary. 
 “Senior Financial Officer” means the chief financial officer, principal accounting officer, treasurer or comptroller of the Company.

 “Series A-1 Notes” is defined in Section 1.1. 
 “Series A-2 Notes” is defined in Section 1.1. 
 “Series A-3 Notes” is defined in Section 1.1. 
 “Source” is defined
in Section 6.2. 
 “SPV” means any special purpose entity established for the purpose of purchasing receivables in
connection with a Permitted Receivables Securitization Transaction or Contract Purchase Facility. 
 “Subsidiary” means, as
to any Person, any corporation, association or other business entity in which such Person or one or more of its Subsidiaries or such Person and one or more of its Subsidiaries owns sufficient equity or voting interests to enable it or them (as a
group) ordinarily, in the absence of contingencies, to elect a majority of the directors (or Persons performing similar functions) of such entity, and any partnership, limited liability company or joint venture if more than a 50% interest in the
profits or capital thereof is owned by such Person or one or more of its Subsidiaries or such Person and one or more of its Subsidiaries (unless such partnership, limited liability company or joint venture can and does ordinarily take major 

  

 11 
 Schedule B 

 
business actions without the prior approval of such Person or one or more of its Subsidiaries). Unless the context otherwise clearly requires, any reference
to a “Subsidiary” is a reference to a Subsidiary of the Company. 
 “Subsidiary Guarantor” means any Subsidiary of
the Company that executes and delivers, or becomes a party to, the Subsidiary Guaranty. 
 “Subsidiary Guaranty” is defined
in Section 9.7. 
 “Subsidiary Stock” means, with respect to any Person, the capital stock (or any options or warrants
to purchase stock, shares or other securities exchangeable for or convertible into stock or shares) of any Subsidiary of such Person. 
 “Swaps” means, with respect to any Person, payment obligations with respect to interest rate swaps, currency swaps and similar obligations obligating such Person to make payments, whether periodically or upon the happening
of a contingency. For the purposes of this Agreement, the amount of the obligation under any Swap shall be the amount determined in respect thereof as of the end of the then most recently ended fiscal quarter of such Person, based on the assumption
that such Swap had terminated at the end of such fiscal quarter, and in making such determination, if any agreement relating to such Swap provides for the netting of amounts payable by and to such Person thereunder or if any such agreement provides
for the simultaneous payment of amounts by and to such Person, then in each such case, the amount of such obligation shall be the net amount so determined. 
 “Term Loan Agreement” means the Term Loan Agreement dated as of March 20, 2008 among the Company, the lenders from time to time party thereto, and JPMorgan Chase Bank, National Association, as
administrative agent as such agreement may be amended, restated, supplemented, refinanced, increased or reduced from time to time, and any successor term loan agreement or similar facility. 
 “this Agreement” or “the Agreement” is defined in Section 17.3. 
 “Transfer” means, with respect to any Person, any transaction in which such Person sells, conveys, transfers or leases (as lessor) any
of its property, including Subsidiary Stock. For purposes of determining the application of the Net Proceeds Amount in respect of any Transfer, the Company may designate any Transfer as one or more separate Transfers each yielding a separate Net
Proceeds Amount. In any such case, (a) the Disposition Value of any property subject to each such separate Transfer and (b) the amount of Consolidated Total Assets attributable to any property subject to each such separate Transfer shall
be determined by ratably allocating the aggregate Disposition Value of, and the aggregate Consolidated Total Assets attributable to, all property subject to all such separate Transfers to each such separate Transfer on a proportionate basis.

 “Transfer Prepayment Date” is defined in Section 8.2(b)(i). 
  

 12 
 Schedule B 

 “USA Patriot Act” means Public Law 107-56 of the United States of America, United and
Strengthening America by Providing Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act of 2001. 
 “Voting
Stock” means, with respect to any Person, any class of shares of stock or other equity interests of such Person having general voting power under ordinary circumstances to elect a majority of the board of directors or other managing
entities, as appropriate, of such Person (irrespective of whether or not at the time stock of any other class or classes or other equity interests of such Person shall have or might have voting power by reason of the happening of any contingency).

 “Webster” is defined in the preamble. 
 “Webster Management” is defined in the preamble. 
 “Weighted Average Life to
Maturity” means when applied to any Debt at any date, the number of years obtained by dividing (i) the sum of the products obtained by multiplying (a) the amount of each then remaining installment, sinking fund, serial maturity or
other required scheduled payments of principal, including payment at final maturity, in respect thereof, by (b) the number of years (calculated to the nearest one-twelfth) that will elapse between such date and the making of such payment, by
(ii) the then outstanding principal amount of such Debt. 
 “Wholly Owned Subsidiary” means, at any time, any
Subsidiary 100% of all of the equity interests (except directors’ qualifying shares) and voting interests of which are owned by any one or more of the Company and the Company’s other Wholly Owned Subsidiaries at such time. 
  

 13 
 Schedule B

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