Document:

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                                                                   EXHIBIT 10(a)

Note: Certain portions of this document have been marked "[c.i.]" to indicate
that confidential treatment has been requested for this confidential
information. The confidential portions have been omitted and filed separately
with the Securities and Exchange Commission.

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              LICENSE, PROMOTION, DISTRIBUTION AND SUPPLY AGREEMENT

                                 BY AND BETWEEN

                               COHERENT-AMT INC.

                                      AND

                           DUSA PHARMACEUTICALS, INC.

                                 March 31, 2004

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Note: Certain portions of this document have been marked "[c.i.]" to indicate
that confidential treatment has been requested for this confidential
information. The confidential portions have been omitted and filed separately
with the Securities and Exchange Commission.

                                                                  Execution Copy

          LICENSE, PROMOTION, DISTRIBUTION AND SUPPLY AGREEMENT

      THIS LICENSE, PROMOTION, DISTRIBUTION AND SUPPLY AGREEMENT (this
"Agreement") is made and entered into effective as of March 31, 2004 (the
"Effective Date"), by and between COHERENT-AMT INC., a corporation duly
organized and existing under the laws of the Province of Ontario, having offices
located at 550 Trillium Unit #15, Kitchener, Ontario N2R 1K3 Canada
("Coherent"), and DUSA PHARMACEUTICALS, INC., a corporation duly organized and
existing under the laws of the State of New Jersey, having offices located at 25
Upton Drive, Wilmington, Massachusetts 01887 ("DUSA").

      WHEREAS, DUSA is the owner of the pharmaceutical product known as the
Levulan(R) Kerastick(R) and a product known as the BLU-U(R), as each such
product is further defined herein;

      WHEREAS, DUSA desires to engage Coherent on an exclusive basis for the
performance of certain promotion, marketing, distribution and sale services in
the Territory for both the Levulan(R) Kerastick(R) and the BLU-U(R) (each, a
"Product", and collectively, the "Products");

      WHEREAS, Coherent possesses expertise in providing such marketing,
promotion and distribution services, and desires to be engaged by DUSA to
provide such services under the terms and conditions set forth in this
Agreement; and

      WHEREAS, DUSA desires to supply the Products to Coherent under the terms
and conditions set forth in this Agreement;

      NOW, THEREFORE, in consideration of the promises and the mutual covenants
and agreements contained herein, the Parties hereto, intending to be legally
bound, hereby agree as follows:

      SECTION 1. DEFINITIONS. The following terms, when used in this Agreement,
shall have the meanings set forth below.

            (a) "Affiliate" or "Affiliates" shall mean any person or entity that
directly or indirectly through one or more intermediaries, controls, or is
controlled by, or is under common control with, another person or entity.

            (b) "Applicable Laws" shall mean all applicable laws, statutes,
rules, regulations and guidelines that may apply to the sale of a Product in the
Territory or the promotion, marketing, manufacturing, packaging, labeling,
importation, exportation, warehousing or distribution of a Product that is to be
sold in the Territory or the performance of either Party's obligations under
this Agreement, and including all Canadian Good Manufacturing Practices and all
applicable standards or guidelines promulgated by the Health Canada or the FDA
and including trade association guidelines, where applicable, as well as United
States' export control laws and the United States' Foreign Corrupt Practices
Act.

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Note: Certain portions of this document have been marked "[c.i.]" to indicate
that confidential treatment has been requested for this confidential
information. The confidential portions have been omitted and filed separately
with the Securities and Exchange Commission.

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            (c) "BLU-U(R)" shall mean DUSA's BLU-U(R) Blue Light Illuminator
Model 4170 System to include one of each - 4170-1 or 4170-1S Head, 4170-2 or
4170-2S Post and 4170-3 or 4170-3S Base, (D1011 Caster Kit is optional).

            (d) "BLU-U(R) Limited Warranty" shall have the meaning assigned to
such term in Section 2.3.

            (e) "Claim" shall have the meaning assigned to such term in Section
5.3(a).

            (f) "Coherent Indemnitees" shall have the meaning assigned to such
term in Section 5.1.

            (g) "Confidential Information" shall have the meaning assigned to
such term in Section 6.1.

            (h) "Distribution Activities" shall have the meaning assigned to
such term in Section 2.1.

            (i) "Drug Establishment License" shall mean the licenses and
approvals required to be obtained and maintained, and all inspections required
to be passed and standards required to be met, under Applicable Law in the
Territory in order for Coherent to lawfully import, release test, warehouse,
distribute and sell pharmaceutical products in the Territory.

            (j) "DUSA Indemnitees" shall have the meaning assigned to such term
in Section 5.2.

            (k) "Effective Date" shall have the meaning assigned to such term in
the introductory paragraph.

            (l) "FDA" shall mean the United States Food and Drug Administration.

            (m) "Governmental Authority" means any governmental department,
commission, board, bureau, agency, court or other instrumentality of the United
States or Canada or any state or provincial authority therein or any
supranational organization of sovereign states, including without limitation,
NAFTA.

            (n) "Levulan(R) Kerastick(R)" shall mean Levulan(R) 20% topical
solution as packaged in DUSA's proprietary applicator, the Kerastick(R).

            (o) "Levulan(R) Kerastick(R) Six-pack" shall mean a package
containing six individual units of the Levulan(R) Kerastick(R).

            (p) "Marketing Activities" shall have the meaning assigned to such
term in Section 2.1.

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Note: Certain portions of this document have been marked "[c.i.]" to indicate
that confidential treatment has been requested for this confidential
information. The confidential portions have been omitted and filed separately
with the Securities and Exchange Commission.

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            (q) "Parties" or "Party" shall mean, as applicable, DUSA or Coherent
and, when used in the plural, shall mean DUSA and Coherent.

            (r) "Product Promotional Materials" shall have the meaning assigned
to such term in Section 2.8(a).

            (s) "Product Regulatory Approvals" shall mean (i), with respect to
the Levulan(R) Kerastick(R), the New Drug Submission (NDS) and the Notice of
Compliance (NOC) each owned and controlled by DUSA and which pertain to the sale
of the Levulan(R) Kerastick(R) in the Territory, and (ii), with respect to the
BLU-U(R), the device registration (No. 26386) owned and controlled by DUSA
authorizing the sale of the BLU-U(R) in the Territory.

            (t) "Required Approvals" shall have the meaning assigned to such
term in Section 2.2(a).

            (u) "Sales Agents" shall have the meaning assigned to such term in
Section 2.5.

            (v) "Specifications" shall, with respect to a Product, mean the
current approved specifications for the manufacture, storage, handling, labeling
and packaging of such Product.

            (w)"Subdistributors" shall have the meaning assigned to such term in
Section 2.5.

            (x) "Territory" shall mean Canada, including all provinces and
territories of Canada.

            (y) "Third Party" shall mean any person or entity who or which is
neither a Party nor an Affiliate of a Party.

            (z) "Trade" shall mean all licensed dermatologists, physicians and
qualified medical institutions in the Territory.

            (aa) "Trademarks" shall have the meaning assigned to such term in
Section 2.1.

            (bb) "Training Program" shall have the meaning assigned to such term
in Section 2.10(a).

SECTION 2. COMMERCIALIZATION OF THE PRODUCTS IN THE TERRITORY.

         2.1 Appointment of Coherent as Distributor; License Grants. Subject to
the terms and conditions of this Agreement, DUSA hereby appoints Coherent as its
sole and exclusive distributor and marketing partner for each of the Products in
the Territory during the term of this Agreement, and as such, Coherent shall be
responsible for and shall have the exclusive right to engage in the importing of
the Products into the Territory and the marketing, promotion, warehousing,
distribution and sales of the Products in the Territory (the "Marketing and

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Note: Certain portions of this document have been marked "[c.i.]" to indicate
that confidential treatment has been requested for this confidential
information. The confidential portions have been omitted and filed separately
with the Securities and Exchange Commission.

                                                                  Execution Copy

Distribution Activities"). In furtherance of each of the foregoing, to the
extent DUSA has the right to grant such rights and licenses, DUSA hereby grants
Coherent the exclusive right and license to engage in the Marketing and
Distribution Activities for the Products in the Territory under (i) all Product
Regulatory Approvals applicable to each Product in the Territory, (ii) all
know-how and patent rights relating to any Product which pertain to the
performance of the Marketing and Distribution Activities, and (iii) the
trademarks, trade names, designs and logos specified on Exhibit A (collectively,
the "Trademarks") but only to the extent necessary to carry out the purpose of
this Agreement (i.e. DUSA retains the right to use its trademarks in the
Territory for all other purposes. Except as expressly set forth in this
Agreement, no license or rights are granted by DUSA under its rights in any
products, patents, know-how, trademarks or any other intellectual property of
DUSA. Marketing and Distribution Activities shall include, without limitation:

            (a) Diligently supporting the promotion and sale of each of the
Products throughout the Territory by (i) undertaking comprehensive sales and
marketing programs, (ii) making appropriate use of training and education
materials, and (iii) employing qualified, skilled marketing product managers and
other personnel of Coherent and contracting with Sales Agents and
Subdistributors;

            (b) Advertising the Products by publication in scientific and
medical journals routinely subscribed to by Coherent's customers in the
Territory;

            (c) Participating in major trade shows, whenever possible, held
periodically in Coherent's Territory;

            (d) Conducting advertising programs specifically targeted to the
Territory from time to time;

            (e) Undertaking all release testing of the Levulan(R) Kerastick(R),
as well as all related analysis, and record keeping required by Health Canada
for importation and distribution of or relating to the Levulan(R) Kerastick(R)
imported into the Territory by Coherent;

            (f) Warehousing each Product;

            (g) Accepting and filling customer orders;

            (h) Shipping and distribution of each Product to customers;

            (i) Invoicing and billing of purchasers of each Product under
appropriate terms of sale;

            (j) Processing billing and returns with respect to each Product;

            (k) Collecting receivables resulting from sales of each Product;

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Note: Certain portions of this document have been marked "[c.i.]" to indicate
that confidential treatment has been requested for this confidential
information. The confidential portions have been omitted and filed separately
with the Securities and Exchange Commission.

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            (l) Installing and training physicians in the use of the BLU-U(R)
sold in the Territory;

            (m) Arranging for servicing, repairing, replacement parts and
providing responsive, diligent technical support for BLU-U(R) units installed in
the Territory including those under warranty and those out of warranty;

            (n) Establish and maintain a Canadian telephone contact number as
required by Health Canada to provide Medical Information to physicians and to
receive Product Complaints and/or Adverse Events reports;

            (o) Promptly comply, at Coherent's expense, with all Applicable Laws
in the Territory.

         2.2 Coherent Diligence in Undertaking the Marketing and Distribution
Activities.

Coherent shall:

            (a) Use commercially reasonable efforts to secure and maintain in
good standing all regulatory approvals, permits and licenses necessary for
Coherent to undertake each of the Marketing and Distribution Activities for each
of the Products throughout the Territory, as required under applicable law and
as required and directed by Health Canada from time to time, including without
limitation Coherent's Drug Establishment License (collectively, the "Required
Approvals");

            (b) No later than 3 months after the Effective Date, provide DUSA
with a true written certification of Coherent's compliance with the requirements
of Section 2.2(a) or in the event such a certification is not possible, then a
written statement of same;

            (c) Use commercially reasonable efforts to maximize sales in the
Territory in undertaking the Marketing and Distribution Activities;

            (d) On a weekly basis, provide DUSA with a sales report to include
but not be limited to: date of sale, quantity of each product sold, customer
name, city, province, and postal code;

            (e) Provide to DUSA within 30 days following the end of each
calendar month a written report summarizing sales of each of the Products during
such calendar month together with a written certification signed by an executive
officer of Coherent certifying the accuracy and completeness of such report,
which report shall also include contact information for customers to whom
Products have been sold in such calendar month, including but not limited to,
the name, city, province, postal code, date of order and quantity of Products
ordered;

            (f) Provide to DUSA at least 30 days prior to each calendar quarter
a written plan, setting forth the planned marketing, promotion, sales and
distribution activities to take place in the upcoming quarter in an effort to
maximize sales;

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Note: Certain portions of this document have been marked "[c.i.]" to indicate
that confidential treatment has been requested for this confidential
information. The confidential portions have been omitted and filed separately
with the Securities and Exchange Commission.

                                                                  Execution Copy

            (g) Provide to DUSA within 30 days following the end of each
calendar quarter a written report setting forth the details of all marketing,
promotion, sales and distribution activities during such calendar quarter which
relate to any of the Products, including without limitation, quarter ending
inventory levels of each Product, and which report shall also be accompanied by
a written certification signed by an executive officer of Coherent certifying
the accuracy and completeness of such report;

            (h) Provide to DUSA reasonable, complete information relating to (i)
any significant development in the market for or regulation of any Product in
the Territory, or (ii) any material non-compliance of Coherent with any law
applicable to its activities under this Agreement, in each case as soon as
practicable, but in any event no later than within 3 business days of Coherent
first becoming aware of such event;

            (i) Maintain knowledgeable support personnel, including without
limitation medical personnel, to provide instructions to its customers in the
use of the Products;

            (j) Cause its sales personnel and Sales Agents to attend from time
to time hands-on sales training sessions and also to improve their clinical
knowledge by observing the use of the Products in applicable medical
applications;

            (k) Implement and observe sales and promotion policies in accordance
with applicable law; provided in the event of a conflict or ambiguity between
this Agreement and any sales or promotion policies, it is expressly agreed that
the terms and conditions of this Agreement shall govern;

            (l) Follow up promptly on all leads to close all sales
opportunities;

            (m) Follow up promptly on customer complaints and promptly forward
to DUSA a complete copy of each customer compliant;

            (n) Actively promote and advertise the Products using DUSA's name
and the Product Promotional Materials to achieve maximum distribution of the
Products and market penetration throughout the Territory in accordance with
Sections 2.8 and 2.9; and

            (o) Comply, at DUSA's expense, with all actions reasonably requested
by DUSA to protect DUSA's patents and other proprietary rights in the Products.

      2.3 Limitation of Product Warranty. At no time shall Coherent make any
representation or extend any warranty regarding any Product which is not first
approved by DUSA in writing. All representations and warranties made by Coherent
regarding any Product must be strictly limited to the representations and
warranties made by the manufacturer of the Product at the time such Product is
made. The warranty that is to be made regarding the BLU-U(R) shall be in the
form of the Limited Warranty for the BLU-U(R) attached hereto as Exhibit C (the
"BLU-U(R) Limited Warranty"), as this may be amended by DUSA from time to time.
DUSA shall only be responsible for the service, repair and replacement part
costs associated with the BLU-U(R) units

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Note: Certain portions of this document have been marked "[c.i.]" to indicate
that confidential treatment has been requested for this confidential
information. The confidential portions have been omitted and filed separately
with the Securities and Exchange Commission.

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that are covered by the BLU-U(R) Limited Warranty only during the applicable
time period(s) specified in the BLU-U(R) Limited Warranty applicable to such
BLU-U(R) units. DUSA part numbers ending in "S" are serviced units that are
covered by the limited warranty.

      2.4 Exclusivity. During the term of this Agreement, other than the
Products, Distributor shall not, directly or indirectly (itself or through any
Affiliate or Third Party or otherwise), market, promote, distribute or sell any
other photodynamic therapy photosensitizer product in the Territory.

      2.5 Non-Stocking Distributors and Subdistributors. During the term of this
Agreement Coherent may, at any time and without the consent of DUSA, but after
giving DUSA notice, appoint any non-stocking sales agents or sales
representatives (collectively, "Sales Agents") or stocking subdistributors
("Subdistributors") to promote, distribute and sell the Products. Any such
appointment shall terminate automatically upon the termination of this
Agreement. If Coherent so appoints any Subdistributors, the Subdistributors must
agree in writing to be bound by the terms and conditions of this Agreement. No
appointment of any Sales Agents or Subdistributors shall relieve Coherent of any
obligation it has under this Agreement and Coherent hereby guarantees the full
and complete performance by all Sales Agents and Subdistributors of all duties
and obligations arising in connection with their activities and obligations
relating to the Products.

      2.6 Restrictions on Distribution. During the term of this Agreement, (a)
Coherent shall not (i) directly or indirectly knowingly sell or distribute any
Product outside of the Territory (including, without limitation, any resale
outside the Territory or use outside the Territory of any Product), nor shall it
(ii) enter into any agreement with any Third Party to undertake any of the
foregoing; and (b) Coherent shall take prompt, appropriate action against any
Third Party to whom it or its Sales Agents or Subdistributors has sold or
distributed a Product which is later sold, distributed, resold or used outside
of the Territory to prevent such conduct.

      2.7 Compliance with Product Labeling and Law. DUSA shall be responsible
for the product labeling for each Product, including making any changes to the
labeling. Coherent shall limit its statements, discussions and claims regarding
the Products, including those as to safety and efficacy, to those which are
consistent with the applicable product labeling and the Product Promotional
Materials. Coherent shall not add, delete, modify or distort claims of safety or
efficacy in the detailing of any Product, nor make any changes (including
underlining or otherwise highlighting any language or adding any notes thereto)
in any Product Promotional Materials. Coherent shall detail each Product in
strict adherence to the terms of this Agreement and any additional written
instructions set forth by DUSA from time to time during the term of this
Agreement which are consistent with the terms of this Agreement, and which are
in accordance with all Applicable Laws. Coherent shall not promote any Product
for any use other than the Product's approved indication pursuant to the then
current applicable product labeling in the Territory. Coherent shall not alter
the Products in any way.

      2.8 Product Promotional Materials.

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Note: Certain portions of this document have been marked "[c.i.]" to indicate
that confidential treatment has been requested for this confidential
information. The confidential portions have been omitted and filed separately
with the Securities and Exchange Commission.

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      (a) Coherent will develop all technique guides, product brochures, sales
and promotional literature and other sales support materials (the "Product
Promotional Materials") based upon the information, graphics, package labels and
Product inserts provided by DUSA for the Products. Coherent shall provide all of
the Product Promotional Materials to DUSA for DUSA's review and approval prior
to any use of such materials by Coherent. While DUSA shall review such materials
for technical accuracy and may, in its sole discretion, also review such
materials for regulatory compliance, Coherent shall be solely responsible for
the regulatory compliance of such materials under Applicable Law in the
Territory.

      (b) DUSA shall solely own all Product Promotional Materials. Coherent
shall be permitted to use the Product Promotional Materials as contemplated in
this Agreement.

      (c) In furtherance of the foregoing:

                        (i)   Coherent hereby assigns all rights, title and
interest in and to the copyright in the Product Promotional Materials to and in
favor of DUSA;

                        (ii)  Coherent represents, warrants and covenants that
it has obtained and will obtain waivers of all current and future moral rights
from all creators of the Product Promotional Materials with respect to the
copyright in such Product Promotional Materials;

                        (iii) Coherent further represents, warrants and
covenants that it has obtained and shall obtain the agreement and covenant of
all creators of the Product Promotional Materials to enforce moral rights as
against others as directed by DUSA or its successor in title of the copyright in
the Product Promotional Materials; and

                        (iv)  Coherent agrees to, and shall ensure that its
employees and independent contractors involved in the creation of the Product
Promotional Materials agree to, do all things and execute without further
consideration, such further assurances, confirmatory assignments, applications
and other instruments as may be required to obtain copyright registrations for
the Product Promotional Materials, vest such copyright registrations in DUSA,
its successors and assignees, or otherwise to protect its rights, title or
interest in the Product Promotional Materials.

      2.9 Use of Name and Trademarks; Proprietary Rights.

            (a) Coherent shall promote and sell Products only under the
Trademarks; provided however, as required by Applicable Law, the name of
Coherent (as the importer of the Products), and the address of Coherent's
principal place of business in Canada (as the person responsible for the sale of
the Products), shall appear on the inner and outer labels of the Levulan(R)
Kerastick(R) and on appropriate locations of the BLU-U(R).

            (b) The Trademarks shall be, and shall at all times remain, the
exclusive property of DUSA. Coherent recognizes that DUSA is the exclusive owner
of the Trademarks used with

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Note: Certain portions of this document have been marked "[c.i.]" to indicate
that confidential treatment has been requested for this confidential
information. The confidential portions have been omitted and filed separately
with the Securities and Exchange Commission.

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the Products and that Coherent has no, and will not have or receive, any right
or interest in the Trademarks other than those explicitly granted in this
Agreement.

            (c) DUSA shall own all patents, proprietary rights and copyrights to
the Products and all artwork, graphics, advertising, trademarks and names used
in connection therewith.

            (d) All Products shall bear DUSA's patent, proprietary rights and
trademarks notices in the manner and form prescribed by DUSA and all applicable
federal, state, provincial or local laws. Coherent shall not copy or modify the
Products, nor remove, alter or obscure any patent, proprietary rights or
trademark notices embedded in or displayed in connection with the Products.

            (e) Coherent acknowledges that the Products have been developed by
DUSA at great expense, contain information and processes proprietary to and
trade secrets of DUSA and, in general, constitute proprietary products of DUSA.
Coherent agrees not to disclose or divulge any information about the Products to
any third-party, not to make any modifications to or copies of the Products for
any purposes whatsoever except as expressly set forth in this Agreement, and not
to contest, or, in any manner, challenge or impair such patents, proprietary
rights and trade secrets.

      2.10  Training.

            (a) Prior to Coherent marketing, promoting, distributing or selling
a Product in the Territory or installing the BLU-U(R) in the Territory, DUSA
shall conduct Product related and installation training programs for each
Product (with respect to such Product, the "Training Program") for Coherent's
current sales representatives, managers and BLU-U(R) installation personnel as
well as Sales Agents and BLU-U(R) installation agents, in each case who will be
carrying out Coherent's marketing, promotion, distribution and/or sales efforts
for a Product in the Territory and/or the installation of the BLU-U(R) in the
Territory. Each Training Program shall use training materials provided by DUSA
and be limited only to provide medical information regarding the safety and
efficacy of the Product in question, and, in the case of the BLU-U(R), shall
also provide information relating to the proper method for installing the BLU-
U(R), and shall not in any way give or be deemed to have given direction or
guidance on how the Products should be marketed, promoted, distributed or sold
in the Territory. Ongoing training of Coherent and its personnel regarding such
medical information regarding the safety and efficacy and all other training,
including without limitation marketing and promotion compliance training, shall
be the responsibility of Coherent at its cost and expense. The location of the
Training Program shall take place at such locations as DUSA shall deem
appropriate. All costs incurred by Coherent or its personnel or Sales Agents
attending or participating in each Training Program shall be borne by Coherent.

            (b) During the Term, DUSA shall have no obligation to train Coherent
other than as described in Section 2.10(a); provided, however, that upon request
from DUSA, Coherent's training from DUSA and/or the Product Promotional
Materials shall be promptly updated to

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Note: Certain portions of this document have been marked "[c.i.]" to indicate
that confidential treatment has been requested for this confidential
information. The confidential portions have been omitted and filed separately
with the Securities and Exchange Commission.

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reflect new developments in connection with each Product as directed by DUSA.
Any such request shall be made with reasonable notice to Coherent. The costs
incurred by Coherent or its personnel attending or participating in each
Training Program as well as the costs of any additional such training under this
Section 2.10(b) shall be borne by Coherent.

      2.11 Product Approvals and Registrations.

            (a) Subject to the rights and licenses granted in Section 2.1, DUSA
shall retain all rights, title and interests in and to the Product Regulatory
Approvals for each Product in the Territory.

            (b) DUSA shall have sole responsibility for maintaining, and shall
use its commercially reasonable efforts to maintain all Product Regulatory
Approvals in the Territory at its expense. Coherent shall cooperate with DUSA,
at DUSA's expense, with respect to obtaining and/or maintaining all Product
Regulatory Approvals, and shall execute, acknowledge and deliver such further
instruments at DUSA's request. DUSA shall use its commercially reasonable
efforts to do all such other acts which may be necessary or appropriate to
obtain and maintain all Product Regulatory Approvals in the Territory.

            (c) DUSA shall have the final decision-making authority in every
case on whether and how to supplement, amend or otherwise alter all Product
Regulatory Approvals and any other issues in connection with all Product
Regulatory Approvals (including, but not limited to, decisions to recall any
Product) and on whether and how to communicate with the regulatory authorities
in connection therewith.

      2.12 Compliance with Applicable Laws.

            (a) Each Party shall use commercially reasonable efforts to maintain
in full force and effect all necessary licenses, permits and other
authorizations required by Applicable Law to carry on its duties and obligations
under this Agreement. Each Party shall comply with all Applicable Laws, provided
that Coherent shall be solely responsible for compliance with those Applicable
Laws pertaining to the activities conducted by it hereunder (including, without
limitation, those Applicable Laws that apply to (i) the marketing, promotion and
sales activities undertaken by it or is Sales Agents and (ii) Coherent obtaining
and maintaining its Drug Establishment License). Each Party shall cooperate with
the other to provide such letters, documentation and other information on a
timely basis as the other Party may reasonably require to fulfill its reporting
and other obligations under Applicable Laws to applicable governmental
authorities. Except for such amounts as are expressly required to be paid by a
Party to the other under this Agreement, each Party shall be solely responsible
for any costs incurred by it to comply with its obligations under Applicable
Laws. Each Party shall conduct its activities hereunder in an ethical and
professional manner.

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Note: Certain portions of this document have been marked "[c.i.]" to indicate
that confidential treatment has been requested for this confidential
information. The confidential portions have been omitted and filed separately
with the Securities and Exchange Commission.

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            (b) Coherent shall notify DUSA, in writing, of any Adverse Drug
Experience within seventy-two (72) hours of such Adverse Drug Experience
becoming known to Coherent. As provided in Section 2.13, and except as required
by any Applicable Laws, DUSA shall have the sole discretion and responsibility
to determine whether any Adverse Drug Experience must be reported to the FDA,
Health Canada or any other applicable Governmental Authority, and following
making a determination to report, to report such events to the FDA, Health
Canada and/or any other applicable Governmental Authority.

      2.13 Communications with Government Agencies Relating to the Product. DUSA
and Coherent each shall notify the other within twenty-four (24) hours (or, if
such twenty-four (24) hour period ends on a non-business day, then prior to noon
on the next following business day) of receipt of any notice of any FDA, Health
Canada or other governmental agency inspection, investigation or other inquiry,
or other material governmental notice or communication, in each case which
relates to the marketing, promotion, distribution and/or detailing of any
Product within the Territory during the term of this Agreement. Coherent and
DUSA shall discuss any response to observations or notifications received in
connection with any such inspection, investigation or other inquiry and each
shall give the other an opportunity to comment upon any proposed response before
it is made. In the event of disagreement concerning the form or content of such
response, however, DUSA shall be responsible for deciding the appropriate form
and content of any response with respect to any of its cited activities and
Coherent shall be responsible for deciding the appropriate form and content of
any response with respect to any of its cited activities. Coherent will provide
DUSA with copies of all correspondence received by it from, or filed by it with,
any Governmental Authority to the extent pertaining to any Product or its
marketing, promotion or detailing in the Territory.

      2.14 Reasonable Cooperation; Audit Right.

            (a) DUSA and Coherent each hereby agrees to use commercially
reasonable efforts to take, or cause to be taken, all actions and to do, or
cause to be done, all things necessary or proper to make effective the
transactions contemplated by this Agreement, including such actions as may be
reasonably necessary to obtain approvals and consents of any governmental
authorities and other persons as may be required.

            (b) Each Party shall have the right to audit the other Party's
facilities, books and records which directly relate to the Products in order to
determine such other Party's compliance with Applicable Law and the terms of
this Agreement. Such audit right shall include the right to access and review
such books and records as well as the right to send reasonable numbers of
representatives and agents to examine the other Party's facilities, provided all
such representatives and agents execute and deliver to such other Party
confidentiality non-disclosure non-use agreements acceptable to such other Party
and all such examination of the other Party's facilities are conducted during
normal business hours and with the minimum of disruption to such other Party's
ongoing operations. Except where any such audit is required to be undertaken by
Applicable Law or in connection with the auditing Party's compliance therewith,
such audits shall not take place more frequently than once per contract year and
the auditing Party shall give

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Note: Certain portions of this document have been marked "[c.i.]" to indicate
that confidential treatment has been requested for this confidential
information. The confidential portions have been omitted and filed separately
with the Securities and Exchange Commission.

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at least 5 business days advance notice of the audit. In any case, any audit
shall be conducted at the other Party's facilities and each Party shall assume
all expenses they themselves incur in connection with the audit.

      2.15 Manufacture and Supply of the Products; Pricing. DUSA shall
manufacture and supply to Coherent each of the Products in accordance with the
Specifications, on the following terms:

            (a) DUSA is responsible, [c.i.] of the Products. DUSA shall be
responsible for undertaking production and instituting quality and in-process
controls for the manufacture and supply of the Products. DUSA shall be
responsible for process validation and testing methods validation for the
Products.

            (b) Within five (5) business days of the effective date of this
Agreement, Coherent shall provide to DUSA an [c.i.] of the quantities of
Products required for the period commencing as of the [c.i.]. Commencing not
later than ninety (90) days prior to [c.i.], and continuing thereafter not later
than ninety (90) days prior to the first day of each Calendar Quarter ("Q1"),
Coherent shall provide to DUSA [c.i.] of the [c.i.] and anticipated delivery
schedules for each Product, on a month-by-month basis during Q1 and the next
three (3) Calendar Quarters ("Q2," "Q3" and "Q4," respectively) for the term of
this Agreement.

            (c) Together with each [c.i.], Coherent shall place [c.i.] with DUSA
for (i) Levulan(R) Kerastick(R) Six-packs and (ii) BLU-U(R) units for delivery
[c.i.]. Requested deliveries of any firm order that exceeds [c.i.] of any
immediately preceding [c.i.] may be subject to greater than 90 days lead time
from DUSA.

            (d) Upon execution of this agreement, Coherent will place [c.i.] for
an [c.i.] of each Product.

            (e) Coherent shall order from DUSA (i) Levulan(R) Kerastick(R)
Six-packs and (ii) the BLU-U(R) in such order quantities as are necessary to
promptly fulfill its obligation of filling orders to the Trade in the Territory.
DUSA will ship all such quantities of the Levulan(R) Kerastick(R) Six-packs and
the BLU-U(R) to Coherent, EXW - ex works (Incoterms 2000) DUSA's designated
facilities in the United States, in DUSA approved, validated shipping
configurations. Coherent shall be responsible for [c.i.]. Coherent shall place
orders of Levulan(R) Kerastick(R) Six-packs in multiples of 24 Levulan(R)
Kerastick(R) Six-packs, (i.e. a case).

            (f) DUSA shall use commercially reasonable efforts to fill
Coherent's orders with lead times consistent with the terms of this Agreement,
taking into account the availability of DUSA's inventory of the Products and the
market demand/forecast provided by Coherent.

            (g) Coherent, [c.i.] shall test each batch of the Levulan(R)
Kerastick(R) and quality release same as to whether it meets the Specifications
using the testing methods developed and approved by DUSA.

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Note: Certain portions of this document have been marked "[c.i.]" to indicate
that confidential treatment has been requested for this confidential
information. The confidential portions have been omitted and filed separately
with the Securities and Exchange Commission.

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            (h) Payment for the Products shall be on the terms and prices
specified on Exhibit B attached hereto. DUSA shall deliver an invoice to
Coherent for each Product at the time such Product is shipped. DUSA shall have
the right, in its discretion, [c.i.] at any time; provided in the event of
[c.i.], DUSA shall provide Coherent [c.i.] in writing which shall be deemed a
revised copy of Exhibit B.

            (i)   DUSA shall send to Coherent a complete copy of the batch
records relating to each batch of the Levulan(R) Kerastick(R) from which
Levulan(R) Kerastick(R) Six-packs have been shipped to Coherent. Such batch
records shall remain the Confidential Information of DUSA; provided however,
Coherent may only use such batch records in connection with complying with the
requirements of Applicable Law in the Territory as may be necessary in
connection with this Agreement and may not use such batch records for any other
purpose whatsoever.

      2.16 Governing Principles and Relationship Between the Parties. This
Agreement sets forth the rights and obligations of each Party with respect to
each of the Products. As such, no distinct corporation, partnership or other
legal entity shall be set up to carry out this Agreement given that the Parties'
relationship is contractual in nature.

      2.17 Insurance. Each Party shall maintain during the performance of this
Agreement the following insurance or self-insurance in amounts no less than that
specified for each type:

            (a) General liability insurance with combined limits of not less
than [c.i.];

            (b) Amounts required by the law of the provinces in which such
Party's workers are located to cover injury sustained while performing services
for the employer [c.i.];

            (c) Product liability insurance with limits [c.i.]; and

            (d) Excess insurance, in excess of all coverages set forth above,
with limits [c.i.].

Each Party shall provide to the other 30 days prior written notice of any
cancellation or change in its coverage.

SECTION 3. RESPONSIBILITY FOR COSTS AND EXPENSES.

      3.1 Responsibility for Costs and Expenses. Except as expressly provided in
this Agreement, each Party shall itself bear any and all costs it incurs in the
performance of its obligations and responsibilities under this Agreement.

      3.2 Taxes. Coherent shall be responsible for the collection and remittance
of all applicable federal, provincial, state and local taxes associated with the
purchase from DUSA and subsequent resale of the Products. In the event that a
Party is mandated under the laws of the Territory or other political subdivision
of competent jurisdiction to withhold any tax to the tax or revenue authorities
in such jurisdiction in connection with any payment to the other Party, such
amount shall be deducted from the payment to be made by such withholding Party;
provided,

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Note: Certain portions of this document have been marked "[c.i.]" to indicate
that confidential treatment has been requested for this confidential
information. The confidential portions have been omitted and filed separately
with the Securities and Exchange Commission.

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that, the withholding Party shall take reasonable and lawful actions to avoid
and minimize such withholding and promptly notify the other Party so that the
other Party may take lawful actions to avoid and minimize such withholding. The
withholding Party shall promptly furnish the other Party with copies of any tax
certificate or other documentation evidencing such withholding as necessary to
satisfy the requirements of the United States Internal Revenue Service or
Revenue Canada, as the case may be, related to any application by such other
Party for foreign tax credit for such payment. Each Party agrees to reasonably
cooperate with the other Party in claiming exemptions from such deductions or
withholdings under any agreement or treaty from time to time in effect.

      3.3 Mode of Payment. All payments required under this Agreement shall  be
made in [c.i.] dollars, by wire transfer, preferably Automated Clearing House
("ACH"), of immediately available funds as directed by the other Party from time
to time, net of any out-of-pocket transfer costs or fees.

SECTION 4. REPRESENTATIONS AND WARRANTIES.

      4.1 Representations and Warranties of Both Parties. Each Party hereby
represents and warrants to the other Party that, as of the Effective Date:

            (a) Legal Right. Such Party has the legal right to enter into this
Agreement, and to perform its obligations hereunder.

            (b) Binding Obligation. This Agreement has been duly executed and
delivered on behalf of the Party and (assuming the due execution and delivery
hereof by the other Party) such agreement is a legal and valid obligation
binding upon it and is enforceable in accordance with its terms, except that:

                        (i)   such enforcement may be subject to bankruptcy,
insolvency, reorganization, moratorium or other similar Applicable Laws now or
hereafter in effect relating to creditors rights generally, and

                        (ii)  such enforcement may be limited by equitable
principles and Applicable Laws.

            (c) No Violation of Instruments or Contracts. The execution and the
delivery of this Agreement and the consummation of the transactions contemplated
hereby will not:

                        (i)   conflict with or result in a breach of any of the
terms, conditions or provisions of, or constitute an event of default under, any
instrument, agreement, mortgage, judgment, order, award, or decree to which
Coherent is a Party or by which it is bound; or

<PAGE>

Note: Certain portions of this document have been marked "[c.i.]" to indicate
that confidential treatment has been requested for this confidential
information. The confidential portions have been omitted and filed separately
with the Securities and Exchange Commission.

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                        (ii)  require the affirmative approval, consent,
authorization or other order or action of any court, governmental authority or
of any creditor of Coherent other than the Approval it is seeking with respect
to the distribution of drugs.

      4.2 Representations and Warranties of Coherent. Coherent hereby represents
and warrants to DUSA that Coherent is in compliance with all requirements of
Applicable Laws within the Territory, except to the extent that any
noncompliance would not have a material adverse effect upon its ability to
perform its obligations under this Agreement.

      4.3 Representations and Warranties of DUSA. Coherent hereby represents and
warrants to DUSA that, as of the Effective Date, the Product Regulatory
Approvals are in good standing for each of the Products.

      4.4 No Reliance by Third-Parties. The representations and warranties of a
Party set forth in this Agreement are intended for the sole and exclusive
benefit of the other Party hereto, and may not be relied upon by any
third-party.

      4.5 Disclaimer. EXCEPT AS EXPRESSLY SET FORTH IN THIS SECTION 4, NEITHER
PARTY MAKES ANY REPRESENTATIONS OR EXTENDS ANY WARRANTIES OF ANY KIND, EITHER
EXPRESS OR IMPLIED, AND EACH PARTY EXPRESSLY DISCLAIMS ALL IMPLIED WARRANTIES OF
MERCHANTABILITY AND OF FITNESS FOR A PARTICULAR PURPOSE OR USE.

      4.6 Warranty Returns / Service. Within [c.i.] days of the signing of this
Agreement, the Parties agree to establish a formal process regarding BLU-U
Warranty returns and service. During the above mentioned [c.i.] day period,
warranty / service activities by Coherent will be limited to changing out system
modules 4170-1, 4170-2 and 4170-3 to include "S" units.

SECTION 5. INDEMNIFICATION

      5.1 Indemnification by DUSA. DUSA shall defend, indemnify and save
Coherent and its respective officers, directors, employees, agents and
shareholders (collectively "Coherent Indemnitees") harmless from all losses and
costs, including reasonable attorney's fees, costs and damages, which any
Coherent Indemnitee may be held liable to pay as a result of:

            (a) claims or suits by third-parties arising out of any injuries to
persons and/or damage to property resulting from: (i) a Product's
non-conformance with its specifications; (ii) defects in the manufacture or
packaging of a Product; (iii) any recall of a Product, or any seizure of a
Product by any Governmental Authority, in either case, arising out of, relating
to, or occurring as a result of, any failure of DUSA, or any Party with which
DUSA may contract, to manufacture or package a Product in accordance with any
applicable government regulation or Canadian Good Manufacturing Practices; or
(iv) the inaccuracy of or defects in any data, information or product labeling
about a Product, including but not limited to submissions to the FDA or Health
Canada about a Product;

<PAGE>

Note: Certain portions of this document have been marked "[c.i.]" to indicate
that confidential treatment has been requested for this confidential
information. The confidential portions have been omitted and filed separately
with the Securities and Exchange Commission.

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            (b) DUSA's violation of any Applicable Laws; or

            (c) the inaccuracy of any representation or the material breach of
any representation, warranty or covenant of DUSA contained in this Agreement.

      5.2 Indemnification by Coherent. Coherent shall defend, indemnify and save
DUSA and its respective officers, directors, employees, agents and shareholders
(collectively the "DUSA Indemnitees") harmless from all losses and costs,
including reasonable attorney's fees, costs, and damages, which any DUSA
Indemnitee may be held liable to pay as a result of:

            (a) claims or suits by third-parties arising out of any injuries to
persons and/or damage to property in respect to the Services provided by
Coherent hereunder, whether or not in accordance with this Agreement, but only
to the extent arising out of, or resulting from, the negligence, recklessness or
willful misconduct of Coherent;

            (b) Coherent's violation of any Applicable Laws; or

            (c) the inaccuracy of any representation or the material breach of
any representation, warranty or covenant of Coherent contained in this
Agreement.

      5.3 Claim Procedures.

            (a) Notice. A Party seeking indemnification under this Article 10
shall give the indemnifying Party prompt written notice of any action, claim,
demand, discovery of fact, proceeding or suit for which indemnification is
sought ("Claim"); provided, however, that the failure of an indemnified Party to
give such prompt notice shall not reduce the indemnifying Party's obligations
under this Section 5 except to the extent that the indemnifying Party's defense
of any such matter is actually prejudiced thereby.

            (b) Defense and Settlement. For any Claim based on any claim, action
or proceeding made or brought by any third Party, the indemnifying Party shall
have the right to participate in the indemnified Party's defense, settlement or
other disposition of any Claim. With respect to any Claim relating solely to the
payment of money damages, and which could not result in the indemnified Party's
becoming subject to injunctive or other equitable relief or otherwise materially
adversely affect the business of the indemnified Party in any manner, and as to
which the indemnifying Party shall have acknowledged in writing the obligation
to indemnify the indemnified Party hereunder, the indemnifying Party shall have
the sole right to defend, settle or otherwise dispose of such Claim, on such
terms as the indemnifying Party, in its sole discretion, shall deem appropriate.
Notwithstanding the foregoing, the indemnifying Party may not settle or
compromise any such Claim without the written consent of the Indemnified Party,
which consent shall not be unreasonably withheld or delayed.

            (c) Litigation Support. In the event and for so long as an
indemnifying Party actively is contesting or defending against any Claim in
connection with this Article 5, the indemnified Party shall cooperate with the
indemnifying Party and its counsel in the contest or

<PAGE>

Note: Certain portions of this document have been marked "[c.i.]" to indicate
that confidential treatment has been requested for this confidential
information. The confidential portions have been omitted and filed separately
with the Securities and Exchange Commission.

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defense, make available its personnel, and provide such testimony and access to
its books and records as shall be reasonably necessary in connection with the
contest or defense, all at the sole cost and expense of the indemnifying Party.

SECTION 6. CONFIDENTIALITY

      6.1 Confidentiality. During the Term of this Agreement, and for a period
of five (5) years from the date of termination, or expiration hereof, Coherent
and DUSA agree to hold in strict confidence, and shall use all reasonable
efforts to maintain the secrecy of any and all information disclosed by one to
the other and either identified in writing as confidential which shall include
the terms of this Agreement, or if disclosed orally is indicated orally to be
confidential or proprietary by the Party disclosing such information at the time
of such disclosure and is confirmed in writing as confidential or proprietary by
the disclosing Party within a reasonable time after such disclosure
(collectively "Confidential Information"), and shall not disclose any such
Confidential Information to a third Party without the express, written consent
of the disclosing Party, with the exception of the following: (i) information
which, at the time of disclosure, is in the public domain; (ii) information
which, after disclosure, becomes part of the public domain by publication or
otherwise, other than by breach of this Agreement by the receiving Party; (iii)
information that the receiving Party can establish by competent proof was in its
possession at the time of disclosure and was not acquired, directly or
indirectly, from the disclosing Party; (iv) information that the receiving Party
obtains from a third Party; provided, however, that such information was not
obtained by said third Party, directly or indirectly, from the disclosing Party
under an obligation of confidentiality known to the receiving Party toward the
disclosing Party; (v) information disclosed by the receiving Party pursuant to
court order or as otherwise required by law, after giving the disclosing Party
prior written notice of such required disclosure and after assisting the
disclosing Party in its reasonable efforts to prevent or limit such disclosure;
and (vi) information that the receiving Party can establish by competent proof
was independently developed by persons in its employ or otherwise who had no
contact with and were not aware of the content of the Confidential Information.

            (a) The receiving Party shall not use the Confidential Information
for any purpose other than in connection with exercising its rights and
fulfilling its obligations hereunder. The receiving Party will not disclose any
such Confidential Information to any person other than its officers or
employees, and only then if they have a clear need to know such Confidential
Information in connection with the performance of their professional
responsibilities.

            (b) The receiving Party shall take all reasonable steps, including
but not limited to those steps taken to protect its own information, data or
other tangible or intangible property that it regards as proprietary or
confidential to insure that the Confidential Information is not disclosed or
duplicated for the use of any third Party, and shall take all reasonable steps
to prevent its officers and employees, or any others having access to the
Confidential Information, from disclosing or making unauthorized use of any
Confidential information, or from committing any acts or making any omissions
that may result in a violation of this Agreement.

<PAGE>

Note: Certain portions of this document have been marked "[c.i.]" to indicate
that confidential treatment has been requested for this confidential
information. The confidential portions have been omitted and filed separately
with the Securities and Exchange Commission.

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            (c) Title to and all rights emanating from the ownership of all
Confidential Information disclosed under this Agreement shall remain vested in
the disclosing Party; provided however, contact information for customers to
whom Products have been sold under this Agreement shall be deemed not to be the
Confidential Information of either Party and such contact information shall be
jointly owned by the Parties with each Party having the right, subject to the
terms and conditions of this Agreement other than those in this Section 6, to
use such contact information without obligation to the other Party. Upon written
request of the disclosing Party, the receiving Party shall return promptly to
the disclosing Party all written materials and documents, as well as any
computer software or other tangible media that contains Confidential
Information, which was made available or supplied by the disclosing Party to the
receiving Party, together with any copies thereof, except for one (1) archival
copy to be held for legal purposes only.

            (d) The receiving Party agrees that the disclosure of Confidential
Information without the express written consent of the disclosing Party will
cause irreparable harm to the disclosing Party, and that any breach or
threatened breach of this Agreement by the receiving Party will entitle the
disclosing Party to injunctive relief, in addition to any other legal remedies
available to it, in any court of competent jurisdiction.

SECTION 7. FORCE MAJEURE

            7.1 Force Majeure. Delays in performance by any Party under this
Agreement shall not be considered a breach of this Agreement if, and to the
extent, caused by occurrences beyond the reasonable control of the Party
affected, including but not limited to acts of God, embargoes, governmental
restrictions, materials shortages or failure of any supplier, where such
shortage or failure is attributable to a supplier's breach of its agreement with
DUSA or with a third-party subcontractor, or to an event of force majeure
suffered by such supplier, fire, flood, explosion, earthquake, hurricanes,
storms, tornadoes, riots, wars, civil disorder, terrorism, failure of public
utilities or common carriers, labor disturbances, rebellion or sabotage. The
Party suffering such occurrence shall immediately notify the other Party of such
inability and of the period for which such inability is expected to continue,
and any time for performance hereunder shall be extended by the actual time of
delay caused by the occurrence; provided, however, that the Party suffering such
occurrence uses commercially reasonable efforts to mitigate any damages incurred
by the other Party. The Party giving such notice shall, thereupon, be excused
from such of its obligations under this Agreement as it is, thereby, disabled
from performing, except for the obligation to pay any amounts due and owing and,
in the case of a supply shortage, any lost opportunity fees set forth herein
regarding such non-performance, for so long as it is so disabled and for the
thirty (30) days thereafter following the cessation of such performance
disability. The other Party may likewise suspend the performance of all or part
of its obligations, except for the obligation to pay any amounts due and owing,
to the extent that such suspension is commercially reasonable.

SECTION 8. TERM AND TERMINATION

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that confidential treatment has been requested for this confidential
information. The confidential portions have been omitted and filed separately
with the Securities and Exchange Commission.

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      8.1 Term; Termination Without Cause.

            (a) The initial term of this Agreement shall commence on the
Effective Date and, unless sooner terminated as provided in this Section 8,
shall continue for a period of three years from the Effective Date. On the third
anniversary of the Effective Date and thereafter on each subsequent anniversary
of the Effective Date until this Agreement is terminated as provided in this
Section 8, the term of this Agreement shall be extended and automatically renew
for successive one year additional terms.

            (b) During the initial term of this Agreement, either Party may
terminate this Agreement by providing formal written notice of its intention to
do so [c.i.] in advance of each anniversary of the Effective Date.

            (c) At any time after the initial term of this Agreement, either
Party may terminate this Agreement at any time by providing formal written
notice of its intention to do so [c.i.] in advance of such termination.

      8.2 Breach. Failure by either Party to comply with any of the material
obligations contained in this Agreement shall entitle the other Party, if it is
not in material default hereunder, to give to the Party in default notice
specifying in detail the nature of the default and requiring it to cure such
default. If such default is: (1) with respect to any payment required to be made
by Coherent, and is not cured within [c.i.] days after receipt of such notice;
or (2) is with respect to any other obligation of either Party, and is not cured
within [c.i.] days after the receipt of such notice (or, if such default cannot
be cured within such [c.i.] day period, if the Party in default does not within
[c.i.] days after receipt of the foregoing notice of default, commence and
diligently continue substantive actions to cure such default and in fact
complete the cure of such default within [c.i.] days after receipt of the
foregoing notice of default), the notifying Party shall be entitled, without
prejudice to any of its other rights conferred on it by this Agreement, and in
addition to any other remedies available to it by Applicable Law or in equity,
to terminate this Agreement by giving written notice of termination, said
termination to take effect immediately upon delivery of such notice or at such
later date specified therein.

      8.3 Insolvency or Bankruptcy. In the event that a Party shall have become
insolvent or bankrupt, or shall have made an assignment for the benefit of its
creditors, or there shall have been appointed a trustee or receiver of such
Party for all or a substantial part of its property, or any case or proceeding
shall have been commenced or other action taken by or against such Party (as to
which, if involuntarily commenced against such Party, such Party is not able to
obtain dismissal within ninety (90) days after commencement thereof) in
bankruptcy or seeking reorganization, liquidation, dissolution, winding-up,
arrangement, composition or readjustment of its debts or any other relief under
any bankruptcy, insolvency, reorganization or other similar act or Applicable
Law of any jurisdiction now, or hereafter, in effect, then such Party shall not
be relieved in any respect of its obligations hereunder, and, in addition to any
other remedies available to it by Applicable Law or in equity, the other Party
may terminate this Agreement, in

<PAGE>

Note: Certain portions of this document have been marked "[c.i.]" to indicate
that confidential treatment has been requested for this confidential
information. The confidential portions have been omitted and filed separately
with the Securities and Exchange Commission.

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whole or in part as the terminating Party may determine, by giving written
notice, which shall be effective immediately upon delivery of such notice.

      8.4 Force Majeure. Either Party may terminate this Agreement upon notice
if an event of Force Majeure continues for more than [c.i.] as provided in
Section 7.1.

      8.5 [c.i.]. The Parties may agree in writing to [c.i.], subject to such
terms and conditions as they may adopt.

      8.6 Product Recall. Either Party shall be entitled to terminate this
Agreement at any time in the event of a product recall or other action on the
part of the FDA or Health Canada which results in any Product being removed from
the market, if such a recall or other FDA or Health Canada action has a material
adverse effect on the commercial viability of any Product in the Territory.

      8.7 Failure to Secure and Maintain the Required Approvals. If at any time
during the term of this Agreement being at least 3 months after the Effective
Date, Coherent does not have in good standing all Required Approvals, then DUSA
may terminate this Agreement upon giving Coherent notice of same.

      8.8 Effect of Termination. Upon expiration or upon termination of this
Agreement:

            (a) the Parties shall promptly return to each other all such other
Party's Confidential Information provided hereunder; and

            (b) Coherent shall discontinue performing any service hereunder in
an orderly manner as and when directed by DUSA in a termination transition
period which DUSA may, in its sole discretion, specify to last up to 6 months
from the date of termination; provided, however that during any such termination
transition period, this Agreement will remain in full force in effect only to
the extent the services hereunder are to still be provided by Coherent and as
other expressly set forth herein. Notwithstanding the foregoing, for the period
of time continuing until 12 months following the installation of the last
BLU-U(R) in the Territory under this Agreement, Coherent shall continue to
arrange for the service, repair, replacement parts and provide responsive,
diligent technical support for BLU-U(R) units installed in the Territory
including those under warranty and those out of warranty. DUSA shall only be
responsible for the service, repair and replacement part costs associated with
BLU-U(R) units that are covered by the BLU-U(R) Limited Warranty only during
the applicable time period(s) specified in the BLU-U(R) Limited Warranty
applicable to such BLU-U(R) units. Upon termination, if requested, Coherent
further agrees to furnish DUSA with a list of those customers having procured
the BLU-U(R) during the term of the Agreement, said list to include serial
number(s), installation date(s), customer name, address, telephone number and
contact. In the event of a termination under Section 8.1, DUSA will fill all
orders outstanding as of the termination date, unless otherwise agreed upon by
The Parties.

      8.9 Accrued Rights, Surviving Obligations.

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that confidential treatment has been requested for this confidential
information. The confidential portions have been omitted and filed separately
with the Securities and Exchange Commission.

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            (a) Termination or expiration of this Agreement for any reason shall
(i) be without prejudice to any rights that shall have accrued to the benefit of
either Party prior to such termination or expiration; and (ii) not relieve
either Party from obligations that are expressly indicated to survive
termination or expiration of this Agreement.

            (b) All of the Parties' rights and obligations under Sections
2.2(m), 2.3, 2.5, 2.8(b), 2.9(b), 2.9(c), 2.9(e), 2.11(a), 2.14, 2.16, 3, 4, 5,
6 (for the period set forth therein), 8, 9 and 10 shall survive termination or
expiration of this Agreement.

SECTION 9. NOTICES. Unless otherwise explicitly set forth herein, any notice
required or permitted to be given hereunder shall be in writing and shall be
delivered personally by hand, or sent by reputable overnight courier, signature
required, to the addresses of each Party set forth below, or to such other
address or addresses as shall be designated in writing in the same matter:

                  (a) If to Coherent, to:

                           Coherent-Amt Inc.
                           550 Trillium, Unit #15
                           Kitchener, Ontario N2R 1K3
                           Canada
                           Attention: Dan Webb
                           Facsimile: (519) 895-0806

                  (b) If to DUSA, to:

                           DUSA Pharmaceuticals, Inc.
                           25 Upton Drive
                           Wilmington, Massachusetts 01887
                           Attention: Mark Carota
                           P: 978.657.7500
                           F: 978-657-9193

                  With a required copy to:

                           Nanette Mantell, Esq.
                           Reed Smith LLP
                           Princeton Forrestal Village
                           136 Main Street - Suite 250
                           Princeton, New Jersey 08543
                           P: 609.514.5842
                           F: 609.951.0824

SECTION 10. MISCELLANEOUS PROVISIONS

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that confidential treatment has been requested for this confidential
information. The confidential portions have been omitted and filed separately
with the Securities and Exchange Commission.

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      10.1 Assignment. Neither Party shall assign or otherwise transfer this
Agreement or any interest herein or right hereunder without the prior written
consent of the other Party. Coherent may not subcontract any work to be
performed hereunder. Any such purported assignment, transfer or attempt to
assign or transfer any interest herein or right hereunder shall be void and of
no effect; except that DUSA:

            (a) upon written notice to Coherent, may assign its rights and
obligations hereunder to an affiliate without the prior consent of Coherent
(although, in such event, DUSA shall remain primarily responsible for all of its
obligations and agreements set forth herein, notwithstanding such assignment);
and

            (b) upon written notice to Coherent, may assign its rights and
obligations to a successor (whether by merger, consolidation, reorganization or
other similar event), or purchaser of all or substantially all of its business
assets without such prior written consent, provided that such successor or
purchaser has agreed in writing to assume all of DUSA's rights and obligations
hereunder pursuant to an instrument of assumption reasonably acceptable to
Coherent.

      10.2 Non-Waiver. Any failure on the part of a Party to enforce at any
time, or for any period of time, any of the provisions of this Agreement shall
not be deemed or construed to be a waiver of such provisions or of any right of
such Party thereafter to enforce each and every such provision on any succeeding
occasion or breach thereof.

      10.3 Change of Law. It is the intention of the Parties to conform strictly
to all Applicable Law. Accordingly, in the event that arrangements contemplated
by this Agreement violate any Applicable Law, the Parties agree to negotiate in
good faith such changes to the structure and terms of the transactions provided
for in this Agreement as may be necessary to make these arrangements, as
restructured, lawful under Applicable Laws, without materially disadvantaging
either Party, and this Agreement shall be deemed reformed in accordance with the
terms negotiated by the Parties.

      10.4 Entirety of Agreement; Amendments.

            (a) This Agreement and the Exhibits attached hereto contain the
entire understanding of the Parties with respect to the subject matter hereof
and thereof and supersedes all previous and contemporaneous verbal and written
agreements, representations and warranties with respect to such subject matter.
This Agreement shall not be strictly construed against either Party hereto.

            (b) This Agreement may be waived, amended, supplemented or modified
in whole or in part only by a written agreement executed by each of the Parties
hereto and specifically stating that it modifies or amends this Agreement.

<PAGE>

Note: Certain portions of this document have been marked "[c.i.]" to indicate
that confidential treatment has been requested for this confidential
information. The confidential portions have been omitted and filed separately
with the Securities and Exchange Commission.

                                                                  Execution Copy

      10.5 Public Announcements. The form and content of any public announcement
to be made by Coherent regarding this Agreement, or the subject matter contained
herein, shall be subject to the prior written consent of DUSA, except as may be
required by Applicable Law (including, without limitation, disclosure
requirements of the SEC, NASDAQ, or any other stock exchange) in which event
Coherent shall give DUSA reasonable advance notice and reasonable opportunity to
review any such disclosure. DUSA shall be permitted to make any public
announcement regarding this Agreement, or the subject matter contained herein,
in such form and with such content as DUSA deems necessary or useful in its sole
discretion.

      10.6 Governing Applicable Law. This Agreement shall be governed by and
construed in accordance with the Applicable Laws of the Commonwealth of
Massachusetts, without regard to its conflicts of law principles.

      10.7 Relationship of the Parties. In making and performing this Agreement,
the Parties are acting, and intend to be treated, as independent entities and
nothing contained in this Agreement shall be construed or implied to create an
agency, partnership, joint venture, or employer and employee relationship
between DUSA and Coherent. Except as otherwise provided herein, neither Party
may make any representation, warranty or commitment, whether express or implied,
on behalf of or incur any charges or expenses for or in the name of the other
Party. No Party shall be liable for the act of any other Party unless such act
is expressly authorized in writing by both Parties hereto.

      10.8 Counterparts. This Agreement shall become binding when any one or
more counterparts hereof, individually or taken together, shall bear the
signatures of each of the Parties hereto. This Agreement may be executed in any
number of counterparts, each of which shall be deemed an original as against the
Party whose signature appears thereon, but all of which taken together shall
constitute but one and the same instrument.

      10.9 Severability. If any part of this Agreement is declared invalid by
any legally governing authority having jurisdiction over either Party, then such
declaration shall not affect the remainder of the Agreement and the Parties
shall revise the invalidated part in a manner that will render such provision
valid without impairing the Parties' original intent.

                                      * * *

<PAGE>

Note: Certain portions of this document have been marked "[c.i.]" to indicate
that confidential treatment has been requested for this confidential
information. The confidential portions have been omitted and filed separately
with the Securities and Exchange Commission.

                                                                  Execution Copy

      IN WITNESS WHEREOF, each of the Parties has caused this Agreement to be
executed in multiple counterparts by its duly authorized representative.

 COHERENT-AMT INC.                            DUSA PHARMACEUTICALS, INC.

By: /s/ Dan Webb                              By: /s/ Mark C. Carota
    -----------------------------------           ------------------------------
Name: Dan Webb                                Name: Mark C. Carota
Title: Managing Director                      Title: V.P. Operations

<PAGE>

Note: Certain portions of this document have been marked "[c.i.]" to indicate
that confidential treatment has been requested for this confidential
information. The confidential portions have been omitted and filed separately
with the Securities and Exchange Commission.

                                                                  Execution Copy

                                    Exhibit A

                   Trademarks, Trade names, Designs and Logos

                                   Levulan(R)

                                  Kerastick(R)

                                    BLU-U(R)

                                     DUSA(R)

                          DUSA Pharmaceuticals, Inc.(R)

<PAGE>

Note: Certain portions of this document have been marked "[c.i.]" to indicate
that confidential treatment has been requested for this confidential
information. The confidential portions have been omitted and filed separately
with the Securities and Exchange Commission.

                                                                  Execution Copy

                                    Exhibit B

                                Terms and Prices

A.    The initial sale price to Coherent of each Levulan(R) Kerastick(R)
Six-pack shall be [c.i.] U.S. Coherent shall not resell a Levulan(R)
Kerastick(R) Six-pack for [c.i.] paid by Coherent to DUSA, [c.i.]. DUSA reserves
the right to [c.i.] of the Levulan(R) Kerastick(R) Six-pack from time to time,
by providing [c.i.] prior written notice to Coherent of said changes.

B.    The initial sale price to Coherent of each BLU-U(R) shall be [c.i.].
Coherent shall not resell the BLU-U(R) for [c.i.] of the then current price paid
by Coherent to DUSA, [c.i.]. DUSA reserves the right to [c.i.] of the BLU-U(R)
from time to time, by providing [c.i.] prior written notice to Coherent of said
changes.

C.    DUSA shall continue to offer Coherent the best price it offers for the
Products during the term of this Agreement with the exception of pricing
afforded to contracted government agencies, e.g., Veterans Administration
Hospitals.

D.    Coherent shall pay DUSA for all Products in [c.i.] within [c.i.] of the
date of invoice and Coherent shall be entitled to a [c.i.] for all payments made
within [c.i.] of the date of invoice. Overdue payments will be subject [c.i.] or
[c.i.]. Payment is considered made when received by DUSA.

<PAGE>

Note: Certain portions of this document have been marked "[c.i.]" to indicate
that confidential treatment has been requested for this confidential
information. The confidential portions have been omitted and filed separately
with the Securities and Exchange Commission.

                                                                  Execution Copy

                                    Exhibit C

                        Limited Warranty for the BLU-U(R)

DUSA Pharmaceuticals, Inc. (R)
25 Upton Drive
Wilmington, MA 01887
978-657-7500

      BLU-U(R)Blue Light Photodynamic Therapy Illuminator Model 4170

                      LIMITED WARRANTY TERMS AND CONDITIONS

1. ORDER. You (the "Buyer") have ordered the product stated above from a DUSA
Pharmaceuticals, Inc. (the "Manufacturer") distributor, subject to these Terms
and Conditions. The product will be shipped from the Manufacturer's designated
ship point.

2. LIMITED WARRANTIES. The Manufacturer warrants products manufactured or
supplied by it, other than (1) consumable components or accessories, and (2)
disposable components or accessories, to be free from defects in materials and
workmanship for a period of twelve (12) months from the date of shipment,
provided that products are installed by the Manufacturer or the Manufacturer's
authorized representative. Buyer may only be deemed an authorized representative
for purposes of this Limited Warranty if Buyer receives prior written permission
from the Manufacturer to perform the installation using the Manufacturer's
specified documentation and procedure and written confirmation from Buyer that
the unit has been installed in good working condition. During the warranty
period, any product determined by the Manufacturer to be defective, shall be
repaired or replaced at the Manufacturer's sole option. Such repair or
replacement shall be the Manufacturer's sole obligation and Buyer's sole remedy
hereunder and shall be conditioned upon the Manufacturer receiving written
notice of such defect within ten (10) days after its discovery and, at
Manufacturer's option, return of such products to the Manufacturer, F.O.B. the
Manufacturer's designated facility.

PRODUCTS FURNISHED MAY CONTAIN MODULES OR COMPONENTS WHICH HAVE BEEN PREVIOUSLY
USED IN OTHER PRODUCT SYSTEMS. ANY SUCH PREVIOUSLY USED MODULES OR COMPONENTS
HAVE BEEN INSPECTED, SERVICED, OR REPROCESSED AS APPROPRIATE AND MEET THE
MANUFACTURER'S SPECIFICATIONS FOR NEWLY MANUFACTURED MODULES OR COMPONENTS.

WARRANTY AND DISCLAIMER. THE ABOVE LIMITED WARRANTY IS EXCLUSIVE AND IN LIEU OF
ALL OTHER REPRESENTATIONS AND WARRANTIES OF THE MANUFACTURER, EXPRESS OR
IMPLIED, WRITTEN OR ORAL; MANUFACTURER DISCLAIMS AND EXCLUDES ANY IMPLIED
WARRANTY, INCLUDING, WITHOUT LIMITATION, WARRANTIES OF MERCHANTABILITY AND
FITNESS FOR A PARTICULAR PURPOSE. IN NO EVENT SHALL THE MANUFACTURER BE LIABLE
FOR LOSS OF USE, LOSS OF PROFITS, PUNITIVE OR OTHER CONSEQUENTIAL, INCIDENTAL OR
SPECIAL DAMAGES WHATSOEVER.

ALL EQUIPMENT OR MAJOR COMPONENTS MANUFACTURED BY A PARTY OTHER THAN THE
MANUFACTURER IS SOLD "AS IS" AND WITHOUT ANY WARRANTIES, EXPRESSED OR IMPLIED.
USED AND REFURBISHED EQUIPMENT MANUFACTURED BY THE MANUFACTURER ONLY HAVE
LIMITED WARRANTIES AS STATED IN SECTION 2 ABOVE.

EXCLUSIONS. Except as provided in these Terms and Conditions, no warranty shall
arise from any description of the products or their effectiveness or ability to
achieve any particular result(s), whether written or oral, specifications,
samples, bulletins, marketing or promotional material or similar statements made
or furnished to Buyer by the Manufacturer or any distributor. The Manufacturer
makes no warranty or representation of clinical results, revenue or profits
which may be derived from Buyer's use of the product and no such representation
or warranty shall arise from projections, studies, or other statements or
materials given to Buyer prior to or at the time of purchase. This Limited
Warranty shall be void and of no effect: (a) if a product is not installed by
the Manufacturer, or an authorized Manufacturer's representative; (b) if anyone
other than Manufacturer or an authorized Manufacturer's representative removes a
product casing or attempts to make any modifications or repairs to the product
or makes any attachments or additions to the product; (c) if the product is not
supplied with the type and level of power required by the Manufacturer or the
product is not otherwise operated in accordance with the Manufacturer's
instructions; (d) if the product has not been properly maintained or subjected
to misuse, negligence or abnormal conditions; or (e) if a device installed by
the Manufacturer or an authorized
                                                                       Initial__

<PAGE>

Note: Certain portions of this document have been marked "[c.i.]" to indicate
that confidential treatment has been requested for this confidential
information. The confidential portions have been omitted and filed separately
with the Securities and Exchange Commission.

                                                                  Execution Copy

Manufacturer's representative is moved from the site of its original
installation by anyone other than authorized Manufacturer's representative
without the prior express written consent of the Manufacturer. The Limited
Warranty shall be voided if the product is resold or leased to other than the
original Buyer.

3. CONSEQUENTIAL DAMAGES AND OTHER LIABILITY; INDEMNITY. Except as otherwise
agreed in writing, the Manufacturer's liability with respect to the products
and/or installation of product provided hereunder shall be limited to the
warranty provided in section 2 hereof. THE MANUFACTURER SHALL NOT BE SUBJECT TO
ANY OTHER OBLIGATIONS OR LIABILITIES, WHETHER ARISING OUT OF BREACH OF CONTRACT,
WARRANTY, TORT (INCLUDING NEGLIGENCE AND STRICT LIABILITY) OR OTHER THEORIES OF
LAW, WITH RESPECT TO PRODUCTS SOLD OR SERVICES RENDERED BY THE MANUFACTURER, OR
ANY UNDERTAKINGS, ACTS OR OMISSIONS RELATING THERETO. Without limiting the
generality of the foregoing, the Manufacturer specifically disclaims any
liability for property or personal injury damages, penalties, special or
punitive damages, damages for lost profits or revenues, loss of use of products
or any associated equipment, cost of capital, cost of substitute products,
facilities or services, down-time, shut-down or slow-down costs, or for any
other types of economic loss, or for claims of Buyer's customers or any third
party for any such damages. THE MANUFACTURER DISCLAIMS AND SHALL NOT BE LIABLE
FOR ANY AND ALL CONSEQUENTIAL, INCIDENTAL AND CONTINGENT DAMAGES WHATSOEVER.

BUYER SHALL INDEMNIFY THE MANUFACTURER AGAINST ANY AND ALL LOSSES, LIABILITIES,
DAMAGES AND EXPENSES (INCLUDING, WITHOUT LIMITATION, ATTORNEYS' FEES AND OTHER
COSTS OF DEFENDING ANY ACTION) WHICH THE MANUFACTURER MAY INCUR AS A RESULT OF
ANY CLAIM BY BUYER OR OTHERS ARISING OUT OF OR IN CONNECTION WITH THE PRODUCTS
AND/OR INSTALLATION PROVIDED HEREUNDER (INCLUDING, WITHOUT LIMITATION, ANY CLAIM
ARISING FROM MISUSE OR IMPROPER USE OF ANY PRODUCT SOLD HEREUNDER, WHETHER BY
BUYER OR ANY OTHER PERSON, WHETHER OR NOT AUTHORIZED BY BUYER, AND ANY CLAIM
ARISING FROM ANY MODIFICATION TO OR ALTERATION OF ANY PRODUCT SOLD HEREUNDER,
NOT AUTHORIZED BY THE MANUFACTURER), EXCEPT FOR CLAIMS BASED ON PRODUCT OR
SERVICE DEFECTS PROVEN TO HAVE BEEN CAUSED SOLELY BY THE MANUFACTURER'S
NEGLIGENCE.

4. INSPECTION/RETURNS. Buyer shall inspect the products and read the Operating
Manual (and accompanying documentation) immediately on their arrival and shall
within ten (10) days of the products' arrival give written notice to the
Manufacturer of any claim that the products do not conform with the Terms and
Conditions. Partial shipment by the Manufacturer shall not constitute a basis
for a non-conformity claim by Buyer. Buyer's failure to give such written notice
that the products do not conform shall constitute Buyer's unqualified acceptance
of the products and a waiver by Buyer of all claims with respect thereto,
including any right to revoke acceptance. Products may not be returned without
Manufacturer's prior written consent in the form of a Manufacturers RMA
(Returned Material Authorization), which consent may be withheld at
Manufacturer's sole discretion, for any or no reason. Returned products must be
in unused, marketable condition. No acts on the part of Manufacturer, including
but not limited to Manufacturer's receipt of a returned device from Buyer, shall
constitute Manufacturer's approval and acceptance of a returned product unless
Manufacturer has provided its prior written consent to Buyer. Returned products
must be securely packaged to reach Manufacturer without damage. If the return of
a product is approved by the Manufacturer, the Buyer is responsible for all
shipping and insurance costs associated with the return of a device.

5. PROPRIETARY RIGHTS. Buyer warrants that it will not, and will not permit or
assist any other person or entity to, divulge, disclose, or in any way
distribute or make use of designs, engineering details, and other data and
materials pertaining to any products, and that it will not, and will not permit
or assist any other person or entity to, reverse engineer, manufacture or engage
to have manufactured such products.

6. MANUALS, BROCHURES, INSTRUCTIONS. Any and all operating manuals,
instructions, brochures, warnings or the like concerning the products supplied
hereunder are supplied as an aid to Buyer and are not represented to be
accurate, complete or sufficient for every use or purpose or for treatment of
every patient in Buyer's clinical setting. Buyer warrants that it will train all
of its employees and/or third party users of the products purchased by Buyer so
that such employees and/or third parties will use the products properly and
safely. Buyer will indemnify and hold harmless the Manufacturer against all
liabilities and expenses (including attorneys' fees) arising out of the use of
the products by Buyer or a third party where Buyer fails to provide adequate
warnings and instructions concerning the proper and normal use of the products.
Buyer acknowledges that improper use of the products carries a risk of injury to
patients.

7. MISCELLANEOUS.

7.1 ENTIRE AGREEMENT; AMENDMENTS. These Terms and Conditions shall constitute
the entire warranty agreement between Manufacturer and Buyer and shall supersede
all prior or contemporaneous promotional material, contracts, agreements,
purchase orders or quotations, whether written or oral. There are no conditions
affecting these Terms and Conditions that are not expressed herein. These Terms
and Conditions may not be amended, altered or modified without the express prior
written consent of the Manufacturer. No sales representative or other agent or
representative of the Manufacturer is authorized to modify or alter these

<PAGE>

Note: Certain portions of this document have been marked "[c.i.]" to indicate
that confidential treatment has been requested for this confidential
information. The confidential portions have been omitted and filed separately
with the Securities and Exchange Commission.

                                                                  Execution Copy
                                                                     Initial__

Terms and Conditions. Failure of the Manufacturer to object to handwritten
additions or modifications hereof made by Buyer (or Buyer's agent), or to
provisions of any purchase order or other communication from Buyer, shall not
constitute amendment, alteration or modification of all or any portion of these
Terms and Conditions.

7.2 GOVERNING LAW; JURISDICTION AND VENUE. These Terms and Conditions shall be
governed by and shall be construed according to the laws of the State of
Massachusetts, exclusive of its conflicts of law provisions. The rights and
obligations of the parties hereunder shall not be governed by the 1980 U.N.
Convention on Contracts for the International Sale of Goods. The Buyer agrees
that any action for enforcement of these Terms and Conditions or any other
dispute arising hereunder shall be filed in courts sitting in Boston,
Massachusetts, and Buyer hereby consents to the jurisdiction and venue of such
courts. This provision shall not prohibit the Manufacturer from bringing any
action for enforcement or adjudication of any dispute arising hereunder to be
heard in any other jurisdiction.

7.3 LIMITATION OF ACTION. Any action for breach of these Terms and Conditions
must be commenced not later than one year from the date on which such action
accrues or be forever barred.

7.4 ACKNOWLEDGEMENT. Buyer acknowledges that he/she/it has read this Agreement
and agrees to its terms and conditions as part of the order for the products
from the distributor and acknowledges receipt of a copy of this Agreement.

 Agreed and acknowledged:

________________________________________          Date:_____________________
 Buyer Signature

________________________________________
 Print Name<PAGE>
                                                                     Exhibit 4.5

                                 ASSURANT, INC.

                          5.625% SENIOR NOTES DUE 2014
                          6.750% SENIOR NOTES DUE 2034

                          REGISTRATION RIGHTS AGREEMENT

                                                               February 18, 2004

Citigroup Global Markets Inc.
Morgan Stanley & Co. Incorporated
Banc One Capital Markets, Inc.
As Representatives of the Initial Purchasers
c/o Citigroup Global Markets Inc.
388 Greenwich Street
New York, New York 10013

Ladies and Gentlemen:

      Assurant, Inc., a corporation organized under the laws of Delaware (the
"Company"), proposes to issue and sell to certain purchasers (the "Initial
Purchasers"), for whom you (the "Representatives") are acting as
representatives, $500,000,000 aggregate principal amount of its 5.625% Senior
Notes due 2014 and $475,000,000 aggregate principal amount of its 6.750% Senior
Notes due 2034 (together, the "Securities"), upon the terms set forth in the
Purchase Agreement between the Company and the Representatives dated February
10, 2004 (the "Purchase Agreement") relating to the initial placement (the
"Initial Placement") of the Securities. To induce the Initial Purchasers to
enter into the Purchase Agreement and to satisfy a condition to your obligations
thereunder, the Company agrees with you for your benefit and the benefit of the
holders from time to time of the Securities (including the Initial Purchasers)
(each a "Holder" and, collectively, the "Holders"), as follows:

      1. Definitions. Capitalized terms used herein without definition shall
have their respective meanings set forth in the Purchase Agreement. The terms
defined in this Section 1 include the plural as well as the singular. As used in
this Agreement, the following capitalized defined terms shall have the following
meanings:

      "Act" means the Securities Act of 1933, as amended, and the rules and
regulations of the Commission promulgated thereunder.

      "Additional Interest" has the meaning set forth in Section 8 hereof.

      "Affiliate" has the meaning specified in Rule 405 under the Act and the
terms "controlling" and "controlled" shall have meanings correlative thereto.
<PAGE>
      "Base Interest" means the interest that would otherwise accrue on the
Securities under the terms thereof and the Indenture, without giving effect to
the provisions of this Registration Rights Agreement.

      "Broker-Dealer" means any broker or dealer registered as such under the
Exchange Act.

      "Business Day" means any calendar day that is not a Saturday, a Sunday or
a legal holiday in New York, New York and on which commercial banks are open for
business in New York, New York.

      "Closing Date" means the date of the first issuance of the Securities.

      "Commission" means the Securities and Exchange Commission.

      "Deferral Period" has the meaning indicated in Section 4(k)(ii) hereof.

      "Exchange Act" means the Securities Exchange Act of 1934, as amended, and
the rules and regulations of the Commission promulgated thereunder.

      "Exchange Offer Registration Period" means the 180-day period following
the consummation of the Registered Exchange Offer, exclusive of any period
during which any stop order shall be in effect suspending the effectiveness of
the Exchange Offer Registration Statement.

      "Exchange Offer Registration Statement" means a registration statement of
the Company on an appropriate form under the Act with respect to the Registered
Exchange Offer, all amendments and supplements to such registration statement,
including post-effective amendments thereto, in each case including the
Prospectus contained therein, all exhibits thereto and all material incorporated
by reference therein.

      "Exchanging Dealer" means any Holder (which may include any Initial
Purchaser) that is a Broker-Dealer and elects to exchange for New Securities any
Securities that it acquired for its own account as a result of market-making
activities or other trading activities (but not directly from the Company or any
Affiliate of the Company).

      "Final Memorandum" means the offering memorandum, dated February 10, 2004,
relating to the Securities, including any and all exhibits thereto and any
information incorporated by reference therein as of such date.

      "Holder" has the meaning set forth in the preamble hereto.

      "Indenture" means the Indenture relating to the Securities, dated as of
February 18, 2004, between the Company and SunTrust Bank, as trustee, as the
same may be amended from time to time in accordance with the terms thereof.

      "Initial Placement" has the meaning set forth in the preamble hereto.

                                       2
<PAGE>
      "Initial Purchaser" has the meaning set forth in the preamble hereto.

      "Losses" has the meaning set forth in Section 6(d) hereof.

      "Majority Holders" means, on any date, Holders of a majority of the
aggregate principal amount of Securities or New Securities, as the case may be,
registered under a Registration Statement.

      "Managing Underwriters" means the investment banker or investment bankers
and manager or managers that administer an underwritten offering, if any, under
a Registration Statement.

      "New Securities" means debt securities of the Company identical in all
material respects to the Securities (except that the transfer restrictions shall
be modified or eliminated, as appropriate) to be issued under the New Securities
Indenture.

      "New Securities Indenture" means an indenture between the Company and the
New Securities Trustee, identical in all material respects to the Indenture
(except that the transfer restrictions shall be modified or eliminated, as
appropriate), which may be the Indenture if in the terms thereof appropriate
provision is made for the New Securities.

      "New Securities Trustee" means the Trustee or another bank or trust
company reasonably satisfactory to the Initial Purchasers, as trustee with
respect to the New Securities under the New Securities Indenture.

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

      "Purchase Agreement" has the meaning set forth in the preamble hereto.

      "Registered Exchange Offer" means the proposed offer of the Company to
issue and deliver to the Holders of the Securities that are not prohibited by
any law or policy of the Commission from participating in such offer, in
exchange for the Securities, a like aggregate principal amount of the New
Securities.

      "Registrable Securities" means (i) Securities other than those that have
been (A) registered under a Registration Statement and disposed of in accordance
therewith or (B) distributed to the public pursuant to Rule 144 under the Act or
any successor rule or regulation thereto that may be adopted by the Commission
and (ii) any New Securities resale of which by the Holder thereof requires
compliance with the prospectus delivery requirements of the Act.

                                       3
<PAGE>
      "Registrar" has the meaning set forth in the Indenture.

      "Registration Statement" means any Exchange Offer Registration Statement
or Shelf Registration Statement that covers any of the Securities or the New
Securities pursuant to the provisions of this Agreement, any amendments and
supplements to such registration statement, including post-effective amendments
(in each case including the Prospectus contained therein), all exhibits thereto
and all material incorporated by reference therein.

      "Securities" has the meaning set forth in the preamble hereto.

      "Shelf Registration" means a registration effected pursuant to Section 3
hereof.

      "Shelf Registration Period" has the meaning set forth in Section 3(b)
hereof.

      "Shelf Registration Statement" means a "shelf" registration statement of
the Company pursuant to the provisions of Section 3 hereof which covers some or
all of the Securities or New Securities, as applicable, on an appropriate form
under Rule 415 under the Act, or any similar rule that may be adopted by the
Commission, amendments and supplements to such registration statement, including
post-effective amendments, in each case including the Prospectus contained
therein, all exhibits thereto and all material incorporated by reference
therein.

      "Trustee" means the trustee with respect to the Securities under the
Indenture.

      "Trust Indenture Act" means the Trust Indenture Act of 1939, as amended,
and the rules and regulations of the Commission promulgated thereunder.

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

      2. Registered Exchange Offer. (a) The Company shall prepare and use its
reasonable best efforts to file, not later than 120 days following the Closing
Date, with the Commission the Exchange Offer Registration Statement with respect
to the Registered Exchange Offer. The Company shall use its reasonable best
efforts to cause the Exchange Offer Registration Statement to become effective
under the Act within 180 days of the Closing Date. The Company further agrees to
use its reasonable best efforts to complete the Registered Exchange Offer no
later than 225 days following the Closing Date.

      (b) Upon the effectiveness of the Exchange Offer Registration Statement,
the Company shall promptly commence the Registered Exchange Offer, it being the
objective of such Registered Exchange Offer to enable each Holder electing to
exchange Securities for New Securities (assuming that such Holder is not an
Affiliate of the Company, acquires the New Securities in the ordinary course of
such Holder's business,

                                       4
<PAGE>
has no arrangements with any person to participate in the distribution of the
New Securities and is not prohibited by any law or policy of the Commission from
participating in the Registered Exchange Offer) to trade such New Securities
from and after their receipt without any limitations or restrictions under the
Act and without material restrictions under the securities laws of a substantial
proportion of the several states of the United States.

      (c) In connection with the Registered Exchange Offer, the Company shall:

            (i) mail or cause to be mailed to each Holder a copy of the
      Prospectus forming part of the Exchange Offer Registration Statement,
      together with an appropriate letter of transmittal and related documents;

            (ii) keep the Registered Exchange Offer open for not less than 20
      Business Days after the date notice thereof is mailed to the Holders;

            (iii) use its reasonable best efforts to keep the Exchange Offer
      Registration Statement continuously effective under the Act, supplemented
      and amended as required, under the Act to ensure that it is available for
      sales of New Securities by Exchanging Dealers during the Exchange Offer
      Registration Period;

            (iv) utilize the services of a depositary for the Registered
      Exchange Offer with an address in the Borough of Manhattan in New York
      City, which may be the Trustee, the New Securities Trustee or an Affiliate
      of either of them;

            (v) permit Holders to withdraw tendered Securities at any time prior
      to the close of business, New York time, on the last Business Day on which
      the Registered Exchange Offer is open;

            (vi) prior to effectiveness of the Exchange Offer Registration
      Statement, provide a supplemental letter to the Commission (A) stating
      that the Company is conducting the Registered Exchange Offer in reliance
      on the position of the Commission in Exxon Capital Holdings Corporation
      (pub. avail. May 13, 1988), Morgan Stanley and Co., Inc. (pub. avail. June
      5, 1991); and (B) including a representation that the Company has not
      entered into any arrangement or understanding with any person to
      distribute the New Securities to be received in the Registered Exchange
      Offer and that, to the best of the Company's information and belief, each
      Holder participating in the Registered Exchange Offer is acquiring the New
      Securities in the ordinary course of business and has no arrangement or
      understanding with any person to participate in the distribution of the
      New Securities; and

            (vii) comply in all respects with all applicable laws.

                                       5
<PAGE>
      (d) As soon as practicable after the close of the Registered Exchange
Offer, the Company shall:

            (i) accept for exchange all Securities tendered and not validly
      withdrawn pursuant to the Registered Exchange Offer;

            (ii) deliver to the Trustee for cancellation in accordance with
      Section 4(s) all Securities so accepted for exchange; and

            (iii) cause the New Securities Trustee promptly to authenticate and
      deliver to each Holder of Securities a principal amount of New Securities
      equal to the principal amount of the Securities of such Holder so accepted
      for exchange.

      (e) Each Holder hereby acknowledges and agrees that any Broker-Dealer and
any such Holder using the Registered Exchange Offer to participate in a
distribution of the New Securities (x) could not under Commission policy as in
effect on the date of this Agreement rely on the position of the Commission in
Exxon Capital Holdings Corporation (pub. avail. May 13, 1988) and Morgan Stanley
and Co., Inc. (pub. avail. June 5, 1991), as interpreted in the Commission's
letter to Shearman & Sterling dated July 2, 1993 and similar no-action letters;
and (y) must comply with the registration and prospectus delivery requirements
of the Act in connection with any secondary resale transaction, which must be
covered by an effective registration statement containing the selling security
holder information required by Item 507 or 508, as applicable, of Regulation S-K
under the Act if the resales are of New Securities obtained by such Holder in
exchange for Securities acquired by such Holder directly from the Company or one
of its Affiliates. Accordingly, each Holder participating in the Registered
Exchange Offer shall be required to represent to the Company that, at the time
of the consummation of the Registered Exchange Offer:

            (i) any New Securities received by such Holder will be acquired in
      the ordinary course of business;

            (ii) such Holder will have no arrangement or understanding with any
      person to participate in the distribution (within the meaning of the Act)
      of the Securities or the New Securities;

            (iii) such Holder is not an Affiliate of the Company;

            (iv) if such Holder is not a Broker-Dealer, that it is not engaged
      in, and does not intend to engage in, the distribution of the New
      Securities;

            (v) if such Holder is a Broker-Dealer, that it will receive New
      Securities for its own account in exchange for Securities that were
      acquired as a result of market-making activities or other trading
      activities and that it will be required to acknowledge that it will
      deliver a prospectus in connection with any resale of such New Securities;
      and

                                       6
<PAGE>
            (vi) such Holder is not acting on behalf of any person who, to its
      knowledge, could not truthfully make the foregoing representations.

      (f) If any Initial Purchaser determines that it is not eligible to
participate in the Registered Exchange Offer with respect to the exchange of
Securities constituting any portion of an unsold allotment, at the request of
such Initial Purchaser, the Company shall issue and deliver to such Initial
Purchaser or the person purchasing New Securities registered under a Shelf
Registration Statement as contemplated by Section 3 hereof from such Initial
Purchaser, in exchange for such Securities, a like principal amount of New
Securities. The Company shall use its best efforts to cause the CUSIP Service
Bureau to issue the same CUSIP number for such New Securities as for New
Securities issued pursuant to the Registered Exchange Offer.

      3. Shelf Registration. (a) If (i) due to any change in law or applicable
interpretations thereof by the Commission's staff, the Company determines upon
advice of its outside counsel that it is not permitted to effect the Registered
Exchange Offer as contemplated by Section 2 hereof; (ii) for any other reason
the Registered Exchange Offer is not consummated within 225 days of the Closing
Date; (iii) any Initial Purchaser so requests with respect to Securities that
are not eligible to be exchanged for New Securities in the Registered Exchange
Offer and that are held by it following consummation of the Registered Exchange
Offer; (iv) any Holder (other than an Initial Purchaser) is not eligible to
participate in the Registered Exchange Offer due to applicable law or applicable
interpretation of the Commission; or (v) in the case of any Initial Purchaser
that participates in the Registered Exchange Offer or acquires New Securities
pursuant to Section 2(f) hereof, such Initial Purchaser does not receive freely
tradeable New Securities in exchange for Securities constituting any portion of
an unsold allotment (it being understood that (x) the requirement that an
Initial Purchaser deliver a Prospectus containing the information required by
Item 507 or 508 of Regulation S-K under the Act in connection with sales of New
Securities acquired in exchange for such Securities shall result in such New
Securities being not "freely tradeable;" and (y) the requirement that an
Exchanging Dealer deliver a Prospectus in connection with sales of New
Securities acquired in the Registered Exchange Offer in exchange for Securities
acquired as a result of market-making activities or other trading activities
shall not result in such New Securities being not "freely tradeable"), the
Company shall effect a Shelf Registration Statement in accordance with
subsection (b) below.

      (b) (i) The Company shall as promptly as practicable (but in no event more
than 30 days after so required or requested pursuant to this Section 3), file
with the Commission, and shall thereafter use its reasonable best efforts to
cause to be declared effective under the Act, a Shelf Registration Statement
relating to the offer and sale of the Securities or the New Securities, as
applicable, by the Holders thereof from time to time in accordance with the
methods of distribution elected by such Holders and set forth in such Shelf
Registration Statement; provided, however, that no Holder (other than an Initial
Purchaser) shall be entitled to have the Securities held by it covered by such
Shelf Registration Statement unless such Holder agrees in writing to be bound by
all of the provisions of this Agreement applicable to such Holder; and provided
further, that with respect to New Securities received by an Initial Purchaser in
exchange for Securities

                                       7
<PAGE>
constituting any portion of an unsold allotment, the Company may, if permitted
by current interpretations by the Commission's staff, file a post-effective
amendment to the Exchange Offer Registration Statement containing the
information required by Item 507 or 508 of Regulation S-K, as applicable, in
satisfaction of its obligations under this subsection with respect thereto, and
any such Exchange Offer Registration Statement, as so amended, shall be referred
to herein as, and governed by the provisions herein applicable to, a Shelf
Registration Statement.

            (ii) The Company shall use its reasonable best efforts to keep the
      Shelf Registration Statement continuously effective, supplemented and
      amended as required by the Act, in order to permit the Prospectus forming
      part thereof to be usable by Holders for a period (the "Shelf Registration
      Period") from the date the Shelf Registration Statement is declared
      effective by the Commission until the earlier of (A) the second
      anniversary of the Closing Date or (B) the date upon which all the
      Securities or New Securities, as applicable, covered by the Shelf
      Registration Statement have been sold pursuant to the Shelf Registration
      Statement. The Company shall be deemed not to have used its reasonable
      best efforts to keep the Shelf Registration Statement effective during the
      Shelf Registration Period if it voluntarily takes any action that would
      result in Holders of Securities covered thereby not being able to offer
      and sell such Securities at any time during the Shelf Registration Period,
      unless such action is (x) required by applicable law or otherwise
      undertaken by the Company in good faith and for valid business reasons
      (not including avoidance of the Company's obligations hereunder),
      including the acquisition or divestiture of assets, and (y) permitted
      pursuant to Section 4(k)(ii) hereof.

            (iii) The Company shall cause the Shelf Registration Statement and
      the related Prospectus and any amendment or supplement thereto, as of the
      effective date of the Shelf Registration Statement or such amendment or
      supplement, (A) to comply in all material respects with the applicable
      requirements of the Act; and (B) not to contain any untrue statement of a
      material fact or omit to state a material fact required to be stated
      therein or necessary in order to make the statements therein (in the case
      of the Prospectus, in the light of the circumstances under which they were
      made) not misleading, other than information included therein or omitted
      therefrom in reliance upon, or in conformity with, written information
      furnished to the Company by or on behalf of any Holder specifically for
      use therein.

      4. Additional Registration Procedures. In connection with any Shelf
Registration Statement and, to the extent applicable, any Exchange Offer
Registration Statement, the following provisions shall apply.

      (a) The Company shall:

                                       8
<PAGE>
                  (i) furnish to each of the Representatives and to counsel for
            the Holders, not less than three Business Days prior to the filing
            thereof with the Commission, a copy of any Exchange Offer
            Registration Statement and any Shelf Registration Statement, and
            each amendment thereof and each amendment or supplement, if any, to
            the Prospectus included therein (including all documents
            incorporated by reference therein after the initial filing) and
            shall use its reasonable best efforts to reflect in each such
            document, when so filed with the Commission, such comments as the
            Representatives reasonably propose;

                  (ii) include the information set forth in Annex A hereto on
            the facing page of the Exchange Offer Registration Statement, in
            Annex B hereto in the forepart of the Exchange Offer Registration
            Statement in a section setting forth details of the Exchange Offer,
            in Annex C hereto in the underwriting or plan of distribution
            section of the Prospectus contained in the Exchange Offer
            Registration Statement, and in Annex D hereto in the letter of
            transmittal delivered pursuant to the Registered Exchange Offer;

                  (iii) if requested by an Initial Purchaser, include the
            information required by Item 507 or 508 of Regulation S-K, as
            applicable, in the Prospectus contained in the Exchange Offer
            Registration Statement; and

                  (iv) in the case of a Shelf Registration Statement, include
            the names of the Holders that propose to sell Securities pursuant to
            the Shelf Registration Statement as selling security holders.

      (b) The Company shall ensure that:

            (i) any Registration Statement and any amendment thereto and any
      Prospectus forming part thereof and any amendment or supplement thereto
      complies in all material respects with the Act; and

            (ii) any Registration Statement and any amendment thereto does not,
      when it becomes effective, contain an untrue statement of a material fact
      or omit to state a material fact required to be stated therein or
      necessary to make the statements therein not misleading, other than
      information included therein or omitted therefrom in reliance upon, or in
      conformity with, written information furnished to the Company by or on
      behalf of any Holder specifically for use therein.

      (c) The Company shall advise the Representatives, counsel for the Holders
of Securities covered by any Shelf Registration Statement and any Exchanging
Dealer under any Exchange Offer Registration Statement that has provided in
writing to the Company a telephone or facsimile number and address for notices,
and, if requested by any Representative or any such Holder or Exchanging Dealer,
shall confirm such advice in writing (which notice pursuant to clauses (ii)-(v)
hereof shall be accompanied

                                       9
<PAGE>
by an instruction to suspend the use of the Prospectus until the Company shall
have remedied the basis for such suspension):

            (i) when a Registration Statement and any amendment thereto has been
      filed with the Commission and when the Registration Statement or any
      post-effective amendment thereto has become effective;

            (ii) of any request by the Commission for any amendment or
      supplement to the Registration Statement or the Prospectus or for
      additional information;

            (iii) of the issuance by the Commission of any stop order suspending
      the effectiveness of the Registration Statement or the institution of any
      proceeding for that purpose;

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

            (v) of the happening of any event that requires any change in the
      Registration Statement or the Prospectus so that, as of such date, they
      (A) do not contain any untrue statement of a material fact and (B) do not
      omit to state a material fact required to be stated therein or necessary
      to make the statements therein (in the case of the Prospectus, in the
      light of the circumstances under which they were made) not misleading.

      (d) The Company shall use its reasonable best efforts to obtain the
withdrawal of any order suspending the effectiveness of any Registration
Statement or the qualification of the securities therein for sale in any
jurisdiction.

      (e) The Company shall furnish to each Holder of Securities covered by any
Shelf Registration Statement, without charge, at least one copy of such Shelf
Registration Statement and any post-effective amendment thereto, including all
material incorporated therein by reference, and, if the Holder so requests in
writing, all exhibits thereto (including exhibits incorporated by reference
therein).

      (f) The Company shall, during the Shelf Registration Period, deliver to
each Holder of Securities covered by any Shelf Registration Statement,without
charge, as many copies of the Prospectus (including the Preliminary Prospectus)
included in such Shelf Registration Statement and any amendment or supplement
thereto as such Holder may reasonably request. The Company consents to the use
of the Prospectus or any amendment or supplement thereto by each of the selling
Holders of Securities in connection with the offering and sale of the Securities
covered by the Prospectus, or any amendment or supplement thereto, included in
the Shelf Registration Statement.

      (g) The Company shall furnish to each Exchanging Dealer which so requests,
without charge, at least one copy of the Exchange Offer Registration Statement

                                       10
<PAGE>
and any post-effective amendment thereto, including all material incorporated by
reference therein, and, if the Exchanging Dealer so requests in writing, all
exhibits thereto (including exhibits incorporated by reference therein).

      (h) The Company shall promptly deliver to each Initial Purchaser, each
Exchanging Dealer and each other person required to deliver a Prospectus during
the Exchange Offer Registration Period, without charge, as many copies of the
Prospectus included in such Exchange Offer Registration Statement and any
amendment or supplement thereto as any such person may reasonably request. The
Company consents to the use of the Prospectus or any amendment or supplement
thereto by any Initial Purchaser, any Exchanging Dealer and any such other
person that may be required to deliver a Prospectus following the Registered
Exchange Offer in connection with the offering and sale of the New Securities
covered by the Prospectus, or any amendment or supplement thereto, included in
the Exchange Offer Registration Statement.

      (i) Prior to the Registered Exchange Offer or any other offering of
Securities pursuant to any Registration Statement, the Company shall arrange, if
necessary, for the qualification of the Securities or the New Securities for
sale under the laws of such jurisdictions as any Holder shall reasonably request
and shall maintain such qualification in effect so long as required; provided
that in no event shall the Company be obligated to qualify to do business in any
jurisdiction where it is not then so qualified or to take any action that would
subject it to taxation in any such jurisdiction where it is not then so subject,
or to service of process in suits, other than those arising out of the Initial
Placement, the Registered Exchange Offer or any offering pursuant to a Shelf
Registration Statement, in any such jurisdiction where it is not then so
subject.

      (j) The Company shall cooperate with the Holders of Securities or New
Securities to facilitate the timely preparation and delivery of certificates
representing Securities or New Securities to be issued or sold pursuant to any
Registration Statement free of any restrictive legends and in such denominations
and registered in such names as Holders may request in writing at least four (4)
Business Days prior to the settlement date for the sales of Securities or New
Securities pursuant to such Registration Statement.

      (k) (i) Upon the occurrence of any event contemplated by subsections
(c)(ii) through (v) above, the Company shall promptly (or within the time period
provided for by clause (ii) hereof, if applicable) prepare a post-effective
amendment to the applicable Registration Statement or an amendment or supplement
to the related Prospectus or file any other required document so that, as
thereafter delivered to the Initial Purchasers of the Securities included
therein, the Prospectus will not include an untrue statement of a material fact
or omit to state any material fact required to be stated therein or necessary to
make the statements therein, in the light of the circumstances under which they
were made, not misleading. In such circumstances, the period of effectiveness of
the Registration Statement provided for in Section 2 or Section 3, as
applicable, shall be extended by the number of days from and including the date
of the giving of a notice of suspension pursuant to Section 4(c) to and
including the date when the Initial Purchasers, the Holders of the Securities
and any known Exchanging

                                       11
<PAGE>
Dealer shall have received such amended or supplemented Prospectus pursuant to
this Section.

            (ii) Upon the occurrence or existence of any pending corporate
      development or any other material event that, in the reasonable judgment
      of the Company, makes it appropriate to suspend the availability of a
      Shelf Registration Statement and the related Prospectus, the Company shall
      give notice (without notice of the nature or details of such events) to
      the Holders that the availability of the Shelf Registration is suspended
      and, upon actual receipt of any such notice, each Holder agrees not to
      sell any Registrable Securities pursuant to the Shelf Registration until
      such Holder's receipt of copies of the supplemented or amended Prospectus
      provided for in Section 4(k)(i) hereof, or until it is advised in writing
      (the "Advice") by the Company that the Prospectus may be used, and has
      received copies of any additional or supplemental filings that are
      incorporated or deemed incorporated by reference in such Prospectus. The
      period during which the availability of the Shelf Registration and any
      Prospectus is suspended (the "Deferral Period") shall not exceed 45 days
      in any three-month period or 90 days in any twelve-month period. In such
      circumstances, the period of effectiveness of the Shelf Registration
      Statement provided for in Section 3 shall be extended by the number of
      days from and including the date of the giving of such notice to and
      including the date when the Initial Purchasers, the Holders of the
      Securities and any known Exchanging Dealer shall have received (x) such
      copies of the supplemented or amended Prospectus provided for in Section
      4(k)(i) hereof (if an amended or supplemented Prospectus is required); or
      (y) the Advice (if no amended or supplemented Prospectus is required).

      (l) Not later than the effective date of any Registration Statement, the
Company shall provide a CUSIP, ISIN and Common Code numbers, as applicable, for
the Securities or the New Securities, as the case may be, registered under such
Registration Statement and provide the Trustee with printed certificates for
such Securities or New Securities, in a form eligible for deposit with The
Depository Trust Company.

      (m) The Company shall comply with all applicable rules and regulations of
the Commission and shall make generally available to its security holders an
earnings statement satisfying the provisions of Section 11(a) of the Act as soon
as practicable after the effective date of the applicable Registration Statement
and in any event no later than 45 days after the end of a 12-month period (or 90
days, if such period is a fiscal year) beginning with the first month of the
Company's first fiscal quarter commencing after the effective date of the
applicable Registration Statement.

      (n) The Company shall cause the New Securities Indenture to be qualified
under the Trust Indenture Act, as required by applicable law, in a timely
manner.

                                       12
<PAGE>
      (o) The Company may require each Holder of Securities to be sold pursuant
to any Shelf Registration Statement to furnish to the Company such information
regarding the Holder and the distribution of such Securities as the Company may
from time to time reasonably require for inclusion in such Registration
Statement. The Company may exclude from such Shelf Registration Statement the
Securities of any Holder that fails to furnish such information within a
reasonable time after receiving such request.

      (p) In the case of any Shelf Registration Statement, the Company shall
enter into customary agreements (including, if requested, an underwriting
agreement in customary form) and take all other appropriate actions in order to
expedite or facilitate the registration or the disposition of the Securities,
and in connection therewith, if an underwriting agreement is entered into, cause
the same to contain indemnification provisions and procedures no less favorable
than those set forth in Section 6 hereof.

      (q) In the case of any Shelf Registration Statement, the Company shall:

            (i) make reasonably available for inspection by the Holders of
      Securities to be registered thereunder, any underwriter participating in
      any disposition pursuant to such Registration Statement, and any attorney,
      accountant or other agent retained by such Holders or any such
      underwriter, all relevant financial and other records and pertinent
      corporate documents of the Company and its subsidiaries, at a location
      where such financial and other records and corporate documents are
      normally kept and during normal business hours;

            (ii) cause its officers, directors, employees, accountants and
      auditors to supply all relevant information reasonably requested by the
      Holders or any such underwriter, attorney, accountant or agent in
      connection with any such Registration Statement as is customary for
      similar due diligence examinations, provided, however, that any
      information that is designated in writing by the Company, in good faith,
      as confidential at the time of delivery of such information shall be kept
      confidential by such Holders or any such underwriter, attorney, accountant
      or agent, unless such disclosure is made in connection with a court
      proceeding or required by law, or other than as a result of a breach of
      such confidentiality provision, such information becomes available to the
      public generally or through a third party without an accompanying
      obligation of confidentiality;

            (iii) make such representations and warranties to the Holders of
      Securities registered thereunder and the underwriters, if any, in form,
      substance and scope as are customarily made by issuers to underwriters in
      underwritten offerings and such other matters as may reasonably be
      requested;

                                       13
<PAGE>
            (iv) upon the reasonable request of any Holder, obtain opinions of
      counsel to the Company and updates thereof (which counsel and opinions (in
      form, scope and substance) shall be reasonably satisfactory to the
      Managing Underwriters, if any) addressed to each selling Holder and the
      underwriters, if any, covering such matters as are customarily covered in
      opinions requested in underwritten offerings and such other matters as may
      be reasonably requested by such Holders and underwriters;

            (v) upon the reasonable request of any Holder, obtain "comfort"
      letters and updates thereof from the independent certified public
      accountants of the Company (and, if necessary, any other independent
      certified public accountants of any subsidiary of the Company or of any
      business acquired by the Company for which financial statements and
      financial data are, or are required to be, included in the Registration
      Statement), addressed to each selling Holder of Securities registered
      thereunder and the underwriters, if any, in customary form and covering
      matters of the type customarily covered in "comfort" letters in connection
      with primary underwritten offerings; and

            (vi) deliver such documents and certificates as may be reasonably
      requested by the Majority Holders or the Managing Underwriters, if any,
      including those to evidence compliance with Section 4(k) hereof and with
      any customary conditions contained in the underwriting agreement or other
      agreement entered into by the Company.

The actions set forth in clauses (iii), (iv), (v) and (vi) of this paragraph (q)
shall be performed at each closing under any underwriting or similar agreement
as and to the extent required thereunder.

      (r) If a Registered Exchange Offer is to be consummated, upon delivery of
the Securities by Holders to the Company (or to such other person as directed by
the Company) in exchange for the New Securities, the Company shall mark, or
caused to be marked, on the Securities so exchanged that such Securities are
being cancelled in exchange for the New Securities. In no event shall the
Securities be marked as paid or otherwise satisfied.

      (s) The Company shall use its best efforts if the Securities have been
rated prior to the initial sale of such Securities, to confirm such ratings will
apply to the Securities or the New Securities, as the case may be, covered by a
Registration Statement.

      (t) The Company shall use its best efforts to take all other steps
necessary to effect the registration of the Securities or the New Securities, as
the case may be, covered by a Registration Statement.

      5. Registration Expenses. The Company shall (i) bear all expenses incurred
in connection with the performance of its obligations under Sections 2, 3 and 4

                                       14
<PAGE>
hereof (except any underwriting discounts, commissions and transfer taxes, if
any, relating to the sale or other disposition of Securities or New Securities
by any Holder) and (ii) in the event of any Shelf Registration Statement,
reimburse the Holders for the reasonable fees and disbursements, up to an
aggregate amount of $35,000, of one firm or counsel (which shall initially be
Skadden, Arps, Slate, Meagher & Flom LLP, but which may be another nationally
recognized law firm experienced in securities matters designated by the Majority
Holders) to act as counsel for the Holders in connection therewith, and, in the
case of any Exchange Offer Registration Statement, will reimburse the Initial
Purchasers for the reasonable fees and disbursements of counsel acting in
connection therewith.

      6. Indemnification and Contribution. (a) The Company agrees to indemnify
and hold harmless each Holder of Securities or New Securities, as the case may
be, covered by any Registration Statement, each Initial Purchaser and, with
respect to any Prospectus delivery as contemplated in Section 4(h) hereof, each
Exchanging Dealer, Affiliates of each such Holder, Initial Purchaser or
Exchanging Dealer and each person who controls any such Holder, Initial
Purchaser or Exchanging Dealer within the meaning of either the Act or the
Exchange Act against any and all losses, claims, damages or liabilities, joint
or several, to which they or any of them may become subject under the Act, the
Exchange Act or other federal or state statutory law or regulation, at common
law or otherwise, insofar as such losses, claims, damages or liabilities (or
actions in respect thereof) arise out of or are based upon any untrue statement
or alleged untrue statement of a material fact contained in the Registration
Statement as originally filed or in any amendment thereof, or in any preliminary
Prospectus or the Prospectus, or in any amendment thereof or supplement thereto,
or arise out of or are based upon the omission or alleged omission to state
therein a material fact required to be stated therein or necessary to make the
statements therein (in the case of any preliminary Prospectus or the Prospectus,
in the light of the circumstances under which they were made) not misleading,
and agrees to reimburse each such indemnified party, as incurred, for any legal
or other expenses reasonably incurred by it in connection with investigating or
defending any such loss, claim, damage, liability or action; provided, however,
that the Company will not be liable in any such case to the extent that any such
loss, claim, damage or liability arises out of or is based upon any such untrue
statement or alleged untrue statement or omission or alleged omission made
therein in reliance upon and in conformity with written information furnished to
the Company by or on behalf of the party claiming indemnification specifically
for inclusion therein, and provided, further, that the foregoing indemnity
agreement shall not inure to the benefit of any Exchanging Dealer, its
directors, officers and employees, and each person, if any, who controls such
Exchanging Dealer within the meaning of the Act and the Exchange Act, who, in
contravention of a requirement of applicable law, failed to deliver any
Prospectus (as then amended or supplemented) to the person asserting any losses,
claims, damages, liabilities or expenses, caused by any untrue statement or
alleged untrue statement of a material fact contained in any preliminary
Prospectus, or caused by any omission or alleged omission to state therein a
material fact required to be stated therein or necessary to make the statements
therein not misleading, if such material misstatement or omission or alleged
material misstatement or omission was cured in the Prospectus (as then amended
or supplemented) and such Prospectus was required by law to be delivered at or
prior to the

                                       16
<PAGE>
written confirmation of sale to such person and the Prospectus and any amendment
or supplement thereto was provided by the Company to the Exchanging Dealer in
the requisite quantity and on a timely basis to permit proper delivery on or
prior to the closing of such sale by such Exchanging Dealer. This indemnity
agreement shall be in addition to any liability that the Company may otherwise
have.

      The Company also agrees to indemnify as provided in this Section 6(a) or
contribute as provided in Section 6(d) hereof to Losses of each underwriter, if
any, of Securities or New Securities, as the case may be, registered under a
Shelf Registration Statement, their directors, officers, employees, Affiliates
or agents and each person who controls such underwriter on substantially the
same basis as that of the indemnification of the Initial Purchasers and the
selling Holders provided in this Section 6(a) and shall, if requested by any
Holder, enter into an underwriting agreement reflecting such agreement, as
provided in Section 4(p) hereof.

      (b) Each Holder of securities covered by a Registration Statement
(including each Initial Purchaser that is a Holder, in such capacity) severally
and not jointly agrees to indemnify and hold harmless the Company, each of its
directors, each of its officers who signs such Registration Statement and each
person who controls the Company within the meaning of either the Act or the
Exchange Act, to the same extent as the foregoing indemnity from the Company to
each such Holder, but only with reference to written information relating to
such Holder furnished to the Company by or on behalf of such Holder specifically
for inclusion in the documents referred to in the foregoing indemnity. This
indemnity agreement will be in addition to any liability that any such Holder
may otherwise have.

      (c) Promptly after receipt by an indemnified party under this Section 6 of
notice of the commencement of any action, such indemnified party will, if a
claim in respect thereof is to be made against the indemnifying party under this
Section, notify the indemnifying party in writing of the commencement thereof;
but the failure so to notify the indemnifying party (i) will not relieve it from
liability under paragraph (a) or (b) above unless and to the extent it did not
otherwise learn of such action and such failure results in the forfeiture by the
indemnifying party of substantial rights and defenses; and (ii) will not, in any
event, relieve the indemnifying party from any obligations to any indemnified
party other than the indemnification obligation provided in paragraph (a) or (b)
above. The indemnifying party shall be entitled to appoint counsel (including
local counsel) of the indemnifying party's choice at the indemnifying party's
expense to represent the indemnified party in any action for which
indemnification is sought (in which case the indemnifying party shall not
thereafter be responsible for the fees and expenses of any separate counsel,
other than local counsel if not appointed by the indemnifying party, retained by
the indemnified party or parties except as set forth below); provided, however,
that such counsel shall be reasonably satisfactory to the indemnified party.
Notwithstanding the indemnifying party's election to appoint counsel (including
local counsel) to represent the indemnified party in an action, the indemnified
party shall have the right to employ separate counsel (including local counsel),
and the indemnifying party shall bear the reasonable fees, costs and expenses of
such separate counsel if (i) the use of counsel chosen by the indemnifying party
to represent the

                                       16
<PAGE>
indemnified party would present such counsel with a conflict of interest; (ii)
the actual or potential defendants in, or targets of, any such action include
both the indemnified party and the indemnifying party and the indemnified party
shall have reasonably concluded that there may be legal defenses available to it
and/or other indemnified parties that are different from or additional to those
available to the indemnifying party; or (iii) the indemnifying party shall
authorize the indemnified party to employ separate counsel at the expense of the
indemnifying party. The indemnifying party shall not be liable for any
settlement of any proceeding effected without its written consent, but if
settled with such consent or if there be a final judgment for the plaintiff, the
indemnifying party agrees to indemnify the indemnified party from and against
any loss or liability by reason of such settlement or judgment. An indemnifying
party will not, without the prior written consent of the indemnified parties,
settle or compromise or consent to the entry of any judgment with respect to any
pending or threatened claim, action, suit or proceeding in respect of which
indemnification or contribution may be sought hereunder (whether or not the
indemnified parties are actual or potential parties to such claim or action)
unless such settlement, compromise or consent includes an unconditional release
of each indemnified party from all liability arising out of such claim, action,
suit or proceeding. It is understood that the indemnifying party shall not, in
respect of the legal expenses of any indemnified party in connection with any
proceeding or related proceedings in the same jurisdiction, be liable for (i)
the fees and expenses of more than one separate firm (in addition to any local
counsel) for all Initial Purchasers and the control persons and the Affiliates
of the Initial Purchaser, and (ii) the fees and expenses of more than one
separate firm (in addition to any local counsel) for the Company, its directors,
its officers and each person, if any, who controls the Company within the
meaning of either such section and that all such fees and expenses shall be
reimbursed as they are incurred. In the case of any such separate firm for the
Initial Purchasers and such control persons and affiliates of any Initial
Purchaser, such firm shall be designated in writing by the Representative. In
the case of any such separate firm for the Company, and such directors, officers
and control persons of the Company, such firm shall be designated in writing by
the Company.

      (d) In the event that the indemnity provided in paragraph (a) or (b) of
this Section is unavailable to or insufficient to hold harmless an indemnified
party for any reason, then each applicable indemnifying party shall have a joint
and several obligation to contribute to the aggregate losses, claims, damages
and liabilities (including legal or other expenses reasonably incurred in
connection with investigating or defending any loss, claim, liability, damage or
action) (collectively "Losses") to which such indemnified party may be subject
in such proportion as is appropriate to reflect the relative benefits received
by such indemnifying party, on the one hand, and such indemnified party, on the
other hand, from the Initial Placement and the Registration Statement which
resulted in such Losses; provided, however, that in no case shall any Initial
Purchaser be responsible, in the aggregate, for any amount in excess of the
purchase discount or commission applicable to such Security, or in the case of a
New Security, applicable to the Security that was exchangeable into such New
Security, as set forth in the Final Memorandum, nor shall any underwriter be
responsible for any amount in excess of the underwriting discount or commission
applicable to the securities purchased by such underwriter under the
Registration Statement which resulted in such Losses. If the allocation provided
by

                                       17
<PAGE>
the immediately preceding sentence is unavailable for any reason, the
indemnifying party and the indemnified party shall contribute in such proportion
as is appropriate to reflect not only such relative benefits but also the
relative fault of such indemnifying party, on the one hand, and such indemnified
party, on the other hand, in connection with the statements or omissions which
resulted in such Losses as well as any other relevant equitable considerations.
Benefits received by the Company shall be deemed to be equal to the total net
proceeds from the Initial Placement (before deducting expenses) as set forth in
the Final Memorandum. Benefits received by the Initial Purchasers shall be
deemed to be equal to the total purchase discounts and commissions as set forth
on the cover page of the Final Memorandum, and benefits received by any other
Holders shall be deemed to be equal to the value of receiving Securities or New
Securities, as applicable, registered under the Act. Benefits received by any
underwriter shall be deemed to be equal to the total underwriting discounts and
commissions, as set forth on the cover page of the Prospectus forming a part of
the Registration Statement which resulted in such Losses. Relative fault shall
be determined by reference to, among other things, whether any untrue or any
alleged untrue statement of a material fact or omission or alleged omission to
state a material fact relates to information provided by the indemnifying party,
on the one hand, or by the indemnified party, on the other hand, the intent of
the parties and their relative knowledge, access to information and opportunity
to correct or prevent such untrue statement or omission. The parties agree that
it would not be just and equitable if contribution were determined by pro rata
allocation (even if the Holders were treated as one entity for such purpose) or
any other method of allocation which does not take account of the equitable
considerations referred to above. Notwithstanding the provisions of this
paragraph (d), no person guilty of fraudulent misrepresentation (within the
meaning of Section 11(f) of the Act) shall be entitled to contribution from any
person who was not guilty of such fraudulent misrepresentation. For purposes of
this Section, each person who controls a Holder within the meaning of either the
Act or the Exchange Act and each director, officer, employee and agent of such
Holder shall have the same rights to contribution as such Holder, and each
person who controls the Company within the meaning of either the Act or the
Exchange Act, each officer of the Company who shall have signed the Registration
Statement and each director of the Company shall have the same rights to
contribution as the Company, subject in each case to the applicable terms and
conditions of this paragraph (d).

      (e) The provisions of this Section will remain in full force and effect,
regardless of any investigation made by or on behalf of any Holder or the
Company or any of the indemnified persons referred to in this Section 6, and
will survive the sale by a Holder of securities covered by a Registration
Statement.

      7. Underwritten Registrations. (a) If any of the Securities or New
Securities, as the case may be, covered by any Shelf Registration Statement are
to be sold in an underwritten offering, the Managing Underwriters shall be
selected by the Majority Holders, provided that such Managing Underwriters shall
be reasonably satisfactory to the Company.

      (b) No person may participate in any underwritten offering pursuant to any
Shelf Registration Statement, unless such person (i) agrees to sell such
person's

                                       18
<PAGE>
Securities or New Securities, as the case may be, on the basis reasonably
provided in any underwriting arrangements approved by the persons entitled
hereunder to approve such arrangements; and (ii) completes and executes all
questionnaires, powers of attorney, indemnities, underwriting agreements and
other documents reasonably required under the terms of such underwriting
arrangements.

      8. Additional Interest. (a) If (i) the Registered Exchange Offer is not
consummated on or prior to 225 days after the date of the original issuance of
the Securities or (ii) the Company is required to file the Shelf Registration
Statement in accordance with Section 3 and the Shelf Registration Statement is
not declared effective within 225 days after the original issuance of the
Securities (each such event referred to in clauses (i) and (ii), a "Registration
Default"), the Company shall be obligated to pay additional interest
("Additional Interest") to each Holder of Registrable Securities, during the
period of such Registration Default, at a rate of 0.25% per annum on the
applicable principal amount of Registrable Securities held by such Holder until
such Registration Default has been cured. Such obligation to pay Additional
Interest shall survive until (i) the Exchange Offer Registration Statement is
declared effective and the Registered Exchange Offer is consummated with respect
to all properly tendered Securities or (ii) the Shelf Registration Statement is
declared effective, as the case may be. Following the cure of such Registration
Default, the accrual of Additional Interest will cease.

      (b) The Company shall notify the Trustee and the paying agent under the
Indenture promptly following the occurrence of each and every Registration
Default. The Company shall pay the Additional Interest due on the Registrable
Securities by depositing with the paying agent (which may not be the Company for
these purposes), in trust, for the benefit of the Holders thereof, prior to
10:00 a.m., New York City time, on the next applicable interest payment date
specified by the Indenture and the Securities, sums sufficient to pay the
Additional Interest then due. The Additional Interest due shall be payable on
each applicable interest payment date specified by the Indenture and the
Securities to the record holder entitled to receive the interest payment to be
made on such date. Each obligation to pay Additional Interest shall be deemed to
accrue from and include the date of the applicable Registration Default.

      (c) The parties hereto agree that the Additional Interest provided for in
this Section 8 constitute a reasonable estimate of and are intended to
constitute the sole damages that will be suffered by Holders of Registrable
Securities by reason of the failure of (i) the Shelf Registration Statement to
be filed or (ii) the Exchange Offer Registration Statement to be declared
effective and the Registered Exchange Offer to be consummated, in each case to
the extent required by this Agreement.

      (d) Without limiting the remedies available to the Initial Purchasers and
the Holders, the Company acknowledges that any failure by the Company to comply
with their obligations under Section 2 and Section 3 hereof may result in
material irreparable injury to the Initial Purchasers or the Holders for which
there is no adequate remedy at law, that it will not be possible to measure
damages for such injuries precisely and that, in the event of any such failure,
the Initial Purchasers or any Holder may obtain such relief

                                       19
<PAGE>
as may be required to specifically enforce the Company's obligations under
Section 2 and Section 3 hereof.

      9. No Inconsistent Agreements. The Company has not entered into, and
agrees not to enter into, any agreement with respect to its securities that is
inconsistent with the rights granted to the Holders herein or that otherwise
conflicts with the provisions hereof.

      10. Amendments and Waivers. The provisions of this Agreement may not be
amended, qualified, modified or supplemented, and waivers or consents to
departures from the provisions hereof may not be given, unless the Company has
obtained the written consent of the Holders of a majority of the aggregate
principal amount of the Registrable Securities outstanding; provided that, with
respect to any matter that directly or indirectly affects the rights of any
Initial Purchaser hereunder, the Company shall obtain the written consent of
each such Initial Purchaser against which such amendment, qualification,
supplement, waiver or consent is to be effective; provided, further, that no
amendment, qualification, supplement, waiver or consent with respect to Section
8 hereof shall be effective as against any Holder of Registered Securities
unless consented to in writing by such Holder; and provided, further, that the
provisions of this Article 10 may not be amended, qualified, modified or
supplemented, and waivers or consents to departures from the provisions hereof
may not be given, unless the Company has obtained the written consent of the
Initial Purchasers and each Holder. Notwithstanding the foregoing (except the
foregoing provisos), a waiver or consent to departure from the provisions hereof
with respect to a matter that relates exclusively to the rights of Holders whose
Securities or New Securities, as the case may be, are being sold pursuant to a
Registration Statement and that does not directly or indirectly affect the
rights of other Holders may be given by the Majority Holders, determined on the
basis of Securities or New Securities, as the case may be, being sold rather
than registered under such Registration Statement.

      11. Notices. All notices and other communications provided for or
permitted hereunder shall be made in writing by hand-delivery, first-class mail,
facsimile or air courier guaranteeing overnight delivery:

      (a) if to a Holder, at the most current address given by such holder to
the Company in accordance with the provisions of this Section 11, which address
initially is, with respect to each Holder, the address of such Holder maintained
by the Registrar under the Indenture;

      (b) if to the Representatives, initially at the address or addresses set
forth in the Purchase Agreement; and

      (c) if to the Company, initially at its address set forth in the Purchase
Agreement.

      All such notices and communications shall be deemed to have been duly
given when received.

                                       20
<PAGE>
      The Initial Purchasers or the Company by notice to the other parties may
designate additional or different addresses for subsequent notices or
communications.

      12. Remedies. Each Holder, in addition to being entitled to exercise all
rights provided to it herein, in the Indenture or in the Purchase Agreement or
granted by law, including recovery of liquidated or other damages, will be
entitled to specific performance of its rights under this Agreement. The Company
agrees that monetary damages would not be adequate compensation for any loss
incurred by reason of a breach by it of the provisions of this Agreement and
hereby agrees to waive in any action for specific performance the defense that a
remedy at law would be adequate.

      13. Successors. This Agreement shall inure to the benefit of and be
binding upon the parties hereto, their respective successors and assigns,
including, without the need for an express assignment or any consent by the
Company thereto, subsequent Holders of Securities and the New Securities, and
the indemnified persons referred to in Section 6 hereof. The Company hereby
agrees to extend the benefits of this Agreement to any Holder of Securities and
the New Securities, and any such Holder may specifically enforce the provisions
of this Agreement as if an original party hereto. If any transferee of any
Holder shall acquire the Securities in any manner, whether by operation of law
or otherwise, such Securities shall be held subject to all the terms of this
Agreement, and by taking and holding such Securities such Person shall be
conclusively deemed to have agreed to be bound by and to perform all of the
terms and provisions of this Agreement and such Person shall be entitled to
receive the benefits hereof.

      14. Counterparts. This Agreement may be signed in one or more
counterparts, each of which shall constitute an original and all of which
together shall constitute one and the same agreement.

      15. Headings. The section headings used herein are for convenience only
and shall not affect the construction hereof.

      16. Applicable Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of New York applicable to contracts made
and to be performed in the State of New York. The parties hereto each hereby
waive any right to trial by jury in any action, proceeding or counterclaim
arising out of or relating to this Agreement.

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

      18. Securities Held by the Company, etc. Whenever the consent or approval
of Holders of a specified percentage of principal amount of Securities or New
Securities is required hereunder, Securities or New Securities, as applicable,
held by the
                                       21
<PAGE>
Company or its Affiliates (other than subsequent Holders of Securities or New
Securities if such subsequent Holders are deemed to be Affiliates solely by
reason of their holdings of such Securities or New Securities) shall not be
counted in determining whether such consent or approval was given by the Holders
of such required percentage.

                                       22
<PAGE>
      If the foregoing is in accordance with your understanding of our
agreement, please sign and return to us the enclosed duplicate hereof, whereupon
this letter and your acceptance shall represent a binding agreement between the
Company and the several Initial Purchasers.

                                    Very truly yours,

                                    Assurant, Inc.

                                    By:   /s/ J. Kerry Clayton
                                          ---------------------------
                                          Name: J. Kerry Clayton
                                          Title:   President and CEO

The foregoing Agreement is hereby confirmed and
accepted as of the date first above written.

Citigroup Global Markets Inc.
Morgan Stanley & Co. Incorporated
Banc One Capital Markets, Inc.

By:  Citigroup Global Markets Inc.

By    /s/ Kevin Deignan
      -----------------------------
      Name:  Kevin Deignan
      Title:    Vice President

For themselves and the other several
Initial Purchasers named in Schedule I
to the Purchase Agreement.
<PAGE>
                                     ANNEX A

      Each broker-dealer that receives new securities for its own account
pursuant to the Registered Exchange Offer must acknowledge that it will deliver
a prospectus in connection with any resale of such new securities. The Letter of
Transmittal states that by so acknowledging and by delivering a prospectus, a
broker-dealer shall not be deemed to admit that it is an "underwriter" within
the meaning of the Act. This prospectus, as it may be amended or supplemented
from time to time, may be used by a broker-dealer in connection with resales of
new securities received in exchange for securities where such securities were
acquired by such broker-dealer as a result of market-making activities or other
trading activities. The company has agreed that, starting on the date of
consummation of the Registered Exchange Offer and ending on the close of
business 180 days after the date of consummation of the Registered Exchange
Offer, it will make this prospectus available to any broker-dealer for use in
connection with any such resale. See "Plan of Distribution."
<PAGE>
                                     ANNEX B

      Each broker-dealer that receives new securities for its own account in
exchange for securities, where such securities were acquired by such
broker-dealer as a result of market-making activities or other trading
activities, must acknowledge that it will deliver a prospectus in connection
with any resale of such new securities. See "Plan of Distribution."
<PAGE>
                                     ANNEX C

                              PLAN OF DISTRIBUTION

      Each broker-dealer that receives new securities for its own account
pursuant to the Registered Exchange Offer must acknowledge that it will deliver
a prospectus in connection with any resale of such new securities. This
prospectus, as it may be amended or supplemented from time to time, may be used
by a broker-dealer in connection with resales of new securities received in
exchange for securities where such securities were acquired as a result of
market-making activities or other trading activities. The company has agreed
that, starting on the expiration date and ending on the close of business 180
days after the expiration date, it will make this prospectus, as amended or
supplemented, available to any broker-dealer for use in connection with any such
resale. In addition, until __________, ______, all dealers effecting
transactions in the new securities may be required to deliver a prospectus.

      The company will not receive any proceeds from any sale of new securities
by brokers-dealers. New securities received by broker-dealers for their own
account pursuant to the Registered Exchange Offer may be sold from time to time
in one or more transactions in the over-the-counter market, in negotiated
transactions, through the writing of options on the new securities or a
combination of such methods of resale, at market prices prevailing at the time
of resale, at prices related to such prevailing market prices or negotiated
prices. Any such resale may be made directly to purchasers or to or through
brokers or dealers who may receive compensation in the form of commissions or
concessions from any such broker-dealer and/or the purchasers of any such new
securities. Any broker-dealer that resells new securities that were received by
it for its own account pursuant to the Registered Exchange Offer and any broker
or dealer that participates in a distribution of such new securities may be
deemed to be an "underwriter" within the meaning of the Act and any profit of
any such resale of new securities and any commissions or concessions received by
any such persons may be deemed to be underwriting compensation under the Act.
The Letter of Transmittal states that by acknowledging that it will deliver and
by delivering a prospectus, a broker-dealer will not be deemed to admit that it
is an "underwriter" within the meaning of the Act.

      For a period of 180 days after the consummation of the Registered Exchange
Offer, the company will promptly send additional copies of this prospectus and
any amendment or supplement to this prospectus to any broker-dealer that
requests such documents in the Letter of Transmittal. The company has agreed to
pay all expenses incident to the Registered Exchange Offer (including the
expenses of one counsel for the holder of the securities) other than commissions
or concessions of any brokers or dealers and will indemnify the holders of the
securities (including any broker-dealers) against certain liabilities, including
liabilities under the Act.

      [If applicable, add information required by Regulation S-K Items 507
and/or 508.]
<PAGE>
                                     ANNEX D

Rider A

PLEASE FILL IN YOUR NAME AND ADDRESS BELOW IF YOU ARE A BROKER-DEALER AND WISH
TO RECEIVE 10 ADDITIONAL COPIES OF THE PROSPECTUS AND 10 COPIES OF ANY
AMENDMENTS OR SUPPLEMENTS THERETO.

Name:
            ------------------------------
Address:
            ------------------------------

Rider B

If the undersigned is not a Broker-Dealer, the undersigned represents that it
acquired the New Securities in the ordinary course of its business, it is not
engaged in, and does not intend to engage in, a distribution of New Securities
and it has no arrangements or understandings with any person to participate in a
distribution of the New Securities. If the undersigned is a Broker-Dealer that
will receive New Securities for its own account in exchange for Securities, it
represents that the Securities to be exchanged for New Securities were acquired
by it as a result of market-making activities or other trading activities and
acknowledges that it will deliver a prospectus in connection with any resale of
such New Securities; however, by so acknowledging and by delivering a
prospectus, the undersigned shall not be deemed to admit that it is an
"underwriter" within the meaning of the Act.

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