Document:

exv4w1

Exhibit 4.1

FORM OF

DECLARATION OF TRUST AND TRUST AGREEMENT

          TRUST AGREEMENT, dated as of January 15, 2010 (this “Trust Agreement”), between SUPERFUND
ADVISORS INC., a New York corporation, as managing owner (the “Managing Owner”), and BNY MELLON
TRUST OF DELAWARE, a state bank chartered under the laws of the State of Delaware, as trustee (the
“Trustee”). The Managing Owner and the Trustee hereby agree as follows:

          1. Formation of Trust.

               (a) The trust formed hereby shall be known as “[NAME OF TRUST]” (the “Trust”) in which name
the Managing Owner and the Trustee may conduct the business of the Trust, make and execute
contracts, and sue and be sued.

               (b) The Managing Owner hereby assigns, transfers, conveys and sets over to the Trust the sum
of $1,000. The Trust has received such amount in bank accounts in the name of the Trust controlled
by the Managing Owner, which amount shall constitute the initial trust estate. The trust estate
shall be held in trust for the Managing Owner. It is the intention of the parties hereto that the
Trust created hereby constitutes a statutory trust under Chapter 38 of Title 12 of the Delaware
Code, 12 Del. C. § 3801 et seq. (the “Delaware Act”) and that this Trust Agreement constitute the
governing instrument of the Trust. The Trustee is hereby authorized and directed to execute and
file a certificate of trust with the Delaware Secretary of State in the form attached hereto. The
Trust is a series trust pursuant to Section 3804 and 3806(b)(2) of the Delaware Act and each series
(as designated by the Managing Owner) of beneficial interests issued by the Trust shall be a
separate series of the Trust within the meaning of Section 3806(b)(2) of the Delaware Act. As
such, separate and distinct records shall be maintained by the Trust for each Series and the assets
of the Trust associated with a particular Series shall be held in such separate and distinct
records separately from all other Trust assets and from the assets of any other Series. Except to
the extent otherwise expressly provided by this Trust Agreement, the debts, liabilities,
obligations and expenses incurred, contracted for or otherwise existing with respect to a
particular Series shall be enforceable against the assets of such Series only, and not against the
assets of the Trust generally or the assets of any other Series. Further, except to the extent
otherwise expressly provided in this Trust Agreement, none of the debts, liabilities, obligations
and expenses incurred, contracted for or otherwise existing with respect to a particular Series
shall be enforceable against the assets of any other Series.

               (c) The Trustee is hereby authorized and directed to enter into such documents and take such
other action as the Managing Owner specifically directs in written instructions delivered to the
Trustee in accordance with such separate written procedures as may be agreed between the Managing
Owner and the Trustee from time to time; provided, however, the Trustee shall not be required to
take any action if the Trustee shall determine, or shall be advised by counsel, that such action is
likely to result in personal liability or is contrary to applicable law or any agreement to which
the Trustee is a party. The Managing Owner shall have the exclusive authority to manage the
business and affairs of the Trust as an agent of the Trust pursuant to Section 3806(b)(7) of the
Delaware Act.

 

 

          2. Concerning the Trustee.

               (a) Except as otherwise expressly required by Section 1 of this Trust Agreement, the Trustee
shall not have any duty or liability with respect to the administration of the Trust, the
investment of the Trust’s property or the payment of dividends or other distributions of income or
principal to the Trust’s beneficiaries, and no implied obligations shall be inferred from this
Trust Agreement on the part of the Trustee. The Trustee shall not be liable for the acts or
omissions of the Managing Owner nor shall the Trustee be liable for any act or omission by it in
good faith in accordance with the directions of the Managing Owner.

               (b) The Trustee accepts the trusts hereby created and agrees to perform its duties hereunder
with respect to the same but only upon the terms of this Trust Agreement. The Trustee shall not be
personally liable under any circumstances, except for its own willful misconduct or gross
negligence. In particular, but not by way of limitation:

                    (i) The Trustee shall not be personally liable for any error of judgment made in good faith by
an officer or employee of the Trustee;

                    (ii) No provision of this Trust Agreement shall require the Trustee to expend or risk its
personal funds or otherwise incur any financial liability in the performance of its rights or
duties hereunder, if the Trustee shall have reasonable grounds for believing that repayment of such
funds or adequate indemnity against such risk or liability is not reasonably assured or provided to
it;

                    (iii) Under no circumstance shall the Trustee be personally liable for any representation,
warranty, covenant or indebtedness of the Trust;

                    (iv) The Trustee shall not be personally responsible for or in respect of the genuineness,
form or value of the Trust property, the validity or sufficiency of this Trust Agreement or for the
due execution hereof by the Managing Owner;

                    (v) In the event that the Trustee is unsure of the course of action to be taken by it
hereunder, the Trustee may request instructions from the Managing Owner and to the extent the
Trustee follows such instructions in good faith it shall not be liable to any person. In the event
that no instructions are provided within the time requested by the Trustee, it shall have no duty
or liability for its failure to take any action or for any action it takes in good faith;

                    (vi) All funds deposited with the Trustee hereunder may be held in a non-interest bearing
trust account and the Trustee shall not be liable for any interest thereon or for any loss as a
result of the investment thereof at the direction of the Managing Owner;

                    (vii) Under no circumstance shall the Trustee be liable to the Managing Owner, the Trust or
any third party for indirect, consequential or special damages arising in connection with this
Trust Agreement;

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                    (viii) Notwithstanding anything in this Trust Agreement to the contrary, the Trustee shall not
be responsible for any losses resulting from any event beyond the reasonable control of the
Trustee; and

                    (ix) To the extent that, at law or in equity, the Trustee has duties and liabilities relating
thereto to the Managing Owner or the Trust, the Managing Owner agrees that such duties and
liabilities are replaced by the terms of this Trust Agreement.

               (c) The Trustee shall incur no liability to anyone in acting upon any document believed by it
to be genuine and believed by it to be signed by the proper party or parties. The Trustee may
accept a certified copy of a resolution of the board of directors or other governing body of any
corporate party as conclusive evidence that such resolution has been duly adopted by such body and
that the same is in full force and effect. As to any fact or matter the manner of ascertainment of
which is not specifically prescribed herein, the Trustee may for all purposes hereof rely on a
certificate, signed by the Managing Owner, as to such fact or matter, and such certificate shall
constitute full protection to the Trustee for any action taken or omitted to be taken by it in good
faith in reliance thereon.

               (d) In the exercise or administration of the trusts hereunder, the Trustee (i) may act
directly or, at the expense of the Trust, through agents or attorneys, and the Trustee shall not be
liable for the default or misconduct of such agents or attorneys if such agents or attorneys shall
have been selected by the Trustee in good faith, and (ii) may, at the expense of the Trust, consult
with counsel, accountants and other experts, and it shall not be liable for anything done, suffered
or omitted in good faith by it in accordance with the advice or opinion of any such counsel,
accountants or other experts.

               (e) Except as expressly provided in this Section 2, in accepting and performing the trusts
hereby created, the Trustee acts solely as trustee hereunder and not in its individual capacity,
and all persons having any claim against the Trustee by reason of the transactions contemplated by
this Trust Agreement shall look only to the Trust’s property for payment or satisfaction thereof.

          3. Compensation and Indemnification.

               (a) The Managing Owner hereby agrees to (i) compensate the Trustee in accordance with a
separate fee agreement with the Trustee, (ii) reimburse the Trustee for all reasonable expenses
(including reasonable fees and expenses of counsel and other experts) and (iii) indemnify, defend
and hold harmless the Trustee and any of the officers, directors, employees and agents of the
Trustee (the “Indemnified Persons”) from and against any and all losses, damages, liabilities,
claims, actions, suits, costs, expenses, disbursements (including the reasonable fees and expenses
of counsel), taxes and penalties of any kind and nature whatsoever (collectively, “Expenses”), to
the extent that such Expenses arise out of or are imposed upon or asserted at any time against such
Indemnified Persons with respect to the performance of this Trust Agreement, the creation,
operation or termination of the Trust or the transactions contemplated hereby; provided, however,
that the Managing Owner shall not be required to

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indemnify any Indemnified Person for any Expenses to the extent that such Expenses arise as a
result of the willful misconduct, bad faith or gross negligence of such Indemnified Person.

               (b) To the fullest extent permitted by law, Expenses to be incurred by an Indemnified Person
shall, from time to time, be advanced by, or on behalf of, the Managing Owner prior to the final
disposition of any matter upon receipt by the Managing Owner of an undertaking by, or on behalf of,
such Indemnified Person to repay such amount if it shall be determined that the Indemnified Person
is not entitled to be indemnified under this Agreement.

               (c) As security for any amounts owing to the Trustee hereunder, the Trustee shall have a lien
against the Trust property, which lien shall be prior to the rights of the Managing Owner or any
other beneficial owner of the Trust. The obligations of the Managing Owner under this Section 3
shall survive the termination of this Trust Agreement.

          4. The Trustee may resign upon thirty days prior notice to the Managing Owner. At any time,
the Trustee may, at the expense of the Trust, petition a court to appoint a successor trustee. Any
Person into which the Trustee may be merged or with which it may be consolidated, or any Person
resulting from any merger or consolidation to which the Trustee shall be a party, or any Person
which succeeds to all or substantially all of the corporate trust business of the Trustee, shall be
the successor Trustee under this Trust Agreement without the execution, delivery or filing of any
paper or instrument or further act to be done on the part of the parties hereto, except as may be
required by applicable law.

          5. To the extent that in any jurisdiction the Managing Owner or the Trust may now or hereafter
be entitled to claim, for itself or its assets, immunity from suit, execution, attachment (before
or after judgment) or other legal process, the Managing Owner for itself and on behalf of the Trust
irrevocably agrees not to claim, and hereby waives, such immunity.

          6. This Trust Agreement represents the entire agreement between the parties hereto with
respect to the subject matter hereof, and supersedes all prior agreements and understandings
between the parties, whether written or oral.

          7. This Trust Agreement shall be governed by and construed in accordance with the laws of the
State of Delaware, without reference to its conflict of law provisions, and the obligations, rights
and remedies of the parties hereunder shall be determined in accordance with such laws. Sections
3540 and 3561 of Title 12 of the Delaware Code shall not apply to the Trust.

          8. This Trust Agreement may be executed in two or more counterparts, each of which shall be an
original, but all such counterparts shall together constitute one and the same agreement.

          9. This Trust Agreement may be amended and restated by the parties hereto as necessary to
provide for the operation of the Trust; provided, however, that the Trustee shall not be required
to enter into any amendment hereto which adversely affects the rights, duties or immunities of the
Trustee.

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          10. The Trust may dissolve at the written direction of the Managing Owner. Upon dissolution,
the Trustee shall, at the written direction and expense of the Managing Owner, file a certificate
of cancellation in accordance with the Act. Any remaining expenses of the Trust shall be paid by
the Managing Owner.

          11. The parties hereby expressly waive, to the full extent permitted by applicable law, any
right to trial by jury with respect to any judicial proceeding arising from or related to this
Trust Agreement.

[signature page follows]

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

	 	 	 	 	 
	 	SUPERFUND ADVISORS INC.,

as Managing Owner

 	 
	 	By:  	 	 
	 	Name:  	 	 	 
	 	Title:  	 	 	 
	 
	 	BNY MELLON TRUST OF DELAWARE,

as Trustee

 	 
	 	By:  	 	 
	 	Name:  	 	 	 
	 	Title:  	 	 	 
	 

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CERTIFICATE OF TRUST

OF

[NAME OF TRUST]

          THIS Certificate of Trust of [NAME OF TRUST] (the “Trust”) is being duly executed and filed on
behalf of the Trust by the undersigned, as trustee, to form a statutory trust under the Delaware
Statutory Trust Act (12 Del. C. § 3801 et seq.) (the “Act”).

          1. Name. The name of the statutory trust formed hereby is [NAME OF TRUST].

          2. Delaware Trustee. The name and business address of the trustee of the Trust in the
State of Delaware are BNY Mellon Trust of Delaware, 100 White Clay Center Drive, Newark, DE 19711.

          3. Separate Series. Pursuant to Section 3806(b)(2) of the Act, the Trust will issue
one or more series of beneficial interests having the rights and preferences specified in the
governing instrument of the Trust, as it may be amended from time to time (each a “Series”).

          4. Notice of Limitation of Liability of Each Series. Pursuant to Section 3804(a) of
the Act, the liabilities of each Series shall be limited such that (a) the debts, liabilities,
obligations, and expenses incurred, contracted for, or otherwise existing with respect to a
particular Series shall be enforceable against the assets of that particular Series only, and not
against the assets of the Trust generally, or the assets of any other Series and (b) none of the
debts, liabilities, obligations, and expenses incurred, contracted for, or otherwise existing with
respect to the Trust generally and any other Series shall be enforceable against the assets of the
particular Series.

          5. Effective Date. This Certificate of Trust shall be effective upon filing.

          IN WITNESS WHEREOF, the undersigned has duly executed this Certificate of Trust in accordance
with Section 3811(a)(1) of the Act.

	 	 	 	 	 
	 	BNY MELLON TRUST OF DELAWARE,

not in its individual capacity but solely as Trustee of the Trust

 	 
	 	By:  	 	 
	 	Name:  	 	 	 
	 	Title:exv10w1

Exhibit 10.1

	 	 	 	 	 
	STATE OF ILLINOIS
	 	)	 	 
	 
	 	)	 	SS
	COUNTY OF COOK
	 	)	 	 

IN THE CIRCUIT COURT OF COOK COUNTY, ILLINOIS

COUNTY DEPARTMENT, CHANCERY DIVISION

	 	 	 	 	 
	Superior Partners, on Behalf of Itself and All
	 	)	 	 
	Others Similarly Situated,
	 	)	 	No. 10 CH 01613
	 
	 	)	 	 
	Plaintiff,
	 	)	 	Jury Trial Demanded
	 
	 	)	 	 
	vs.
	 	)	 	 
	 
	 	)	 	 
	Leslie J. Jezuit, Bruce Reimer, Daniel P. Gorey,
	 	)	 	 
	Robert D. van Roijen, Lawrence C. McQuade, 
	 	)	 	 
	Duane M. Tyler, Clifford D. Nastas, Quixote
	 	)	 	 
	Corporation and Trinity Industries, Inc.,
	 	)	 	 
	 
	 	)	 	 
	Defendants.
	 	)	 	 
	 
	 	)	 	 

MEMORANDUM OF UNDERSTANDING

     Plaintiff Superior Partners (“Plaintiff”) and Defendants Leslie J. Jezuit, Bruce Reimer,
Daniel P. Gorey, Robert D. van Roijen, Lawrence C. McQuade, Duane M. Tyler, Clifford D. Nastas,
Quixote Corporation (“Defendants”) and Trinity Industries, Inc., who constituted all of the parties
against whom the above-captioned action (the “Action”) was brought, by and through their respective
attorneys, have reached an agreement in principle providing for the settlement of the Action on the
terms and subject to the conditions set forth in this Memorandum of Understanding (the “MOU”):

     WHEREAS, on December 30, 2009, Quixote Corporation (“Quixote” or the “Company”) and Trinity
Industries, Inc. (“Trinity”) announced that they have reached a definitive agreement (the “Merger
Agreement”) for Trinity to acquire the outstanding

 

common shares and equivalents
of Quixote (the “Transaction”) pursuant to an all-cash tender offer of $6.38 per share (the “Tender
Offer”) or approximately $61 million;

     WHEREAS, on January 7, 2010, Quixote mailed a recommendation statement (the “Recommendation
Statement”) to Quixote shareholders, which included, among other things, a recommendation by the
Board of Directors of Quixote (the “Board”) that Quixote’s shareholders tender their shares
pursuant to the Tender Offer;

     WHEREAS, on January 13, 2010, a putative class action complaint (the “Complaint”) was filed by
Plaintiff Superior Partners (“Superior Partners”), a shareholder of the Company, on behalf of all
holders of Quixote’s common stock, other than Defendants, Trinity, and their affiliates (the
“Putative Class”), in the Circuit Court of Cook County, Illinois (the “Illinois Circuit Court”)
captioned Superior Partners v. Jezuit, No. 10 CH 01613 (the “Action”);

     WHEREAS, the Complaint sought relief against Quixote and the members of its Board of Directors
(Leslie J. Jezuit, Bruce Reimer, Daniel P. Gorey, Robert D. van Roijen, Lawrence C. McQuade, Duane
M. Tyler, Clifford D. Nastas) as well as Trinity;

     WHEREAS, the Complaint challenged, inter alia, the Tender Offer and the Merger Agreement,
including but not limited to the terms of the Merger Agreement, and alleged that the Board had
breached its fiduciary duties in connection therewith. Specifically, the Complaint alleged, inter
alia, that the following information, alleged by Plaintiff to be material, was not disclosed in the
Recommendation Statement:

	 	(i)	 	According to the Recommendation Statement, pursuant to the
Merger Agreement, each award of restricted Common Stock granted under the
Company’s Stock Plans, including any restricted stock award (a “Restricted
Stock Award”), will have its forfeiture provisions lapse and will entitle the
holder to cash payment. The Recommendation Statement also indicates that as
of December 31, 

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	 	 	 	2009, the directors and Executive Officers of Quixote
beneficially owned, Restricted Stock Awards for 103,370 shares of Quixote
Common Stock. The Complaint alleges that the
Recommendation Statement is deficient because it fails to disclose the
amount of Restricted Stock Awards that each director holds.
	 
	 	(ii)	 	According to the Recommendation Statement, for its Discounted
Cash Flow Analysis, Morgan Keegan relied upon projections for fiscal years 2010
through 2014 and calculated the range of net present values based on a range of
discount rates from 15% to 20%; a range of terminal value EBITDA multiples of
6.0x to 8.0x and a range of perpetuity growth rates of 1.0% to 5.0%. The
Complaint alleges that the Recommendation Statement is deficient because it
fails to disclose (a) the projections used for this analysis as well as the (b)
methodology used to select the discount rates, the EBITDA multiples and the
perpetuity growth rates.
	 
	 	(iii)	 	According to the Recommendation Statement, in evaluating the
Merger Agreement and the transactions contemplated therein, Quixote’s board of
directors considered that, during the strategic process, “JPMorgan and Morgan
Keegan solicited third party interest in a possible transaction with Quixote
from and provided financial and operation information to a number of potential
strategic acquirers.” The Complaint alleges that the Recommendation Statement
is deficient because it fails to disclose (a) other than Trinity and Company A,
how many other strategic parties were contacted during the period of January
2008 to December 30, 2009, (b) were any private equity parties contacted, (c)
during the period of January 2008 to December 30, 2009 did the Company receive
any indications of interests in acquiring either the Company or any of its
segment from any entity other than Company A, Trinity and Vaisala Inc.
(“Vaisala”), and (d) was the potential strategic party and the potential
management buyer with whom JPMorgan spoke during July 2008 and August 2008
contacted when the sale process resumed in 2009.
	 
	 	(iv)	 	According to the Recommendation Statement in evaluating the
Merger Agreement and the transactions contemplated therein, Quixote’s board of
directors considered “whether parties other than Trinity or Company A would be
willing or capable of entering into a transaction with Quixote that would
provide value to Quixote’s 

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	 	 	 	stockholders superior to the Offer Price.” The
Complaint alleges that the Recommendation Statement is deficient because it
fails to disclose the conclusion reached from this consideration.
	 
	 	(v)	 	According to the Proxy Statement, in late September 2009,
Vaisala expressed interest in a possible acquisition of the Company’s Inform
Business Segment and in December 2009 the Company’s board approved the sale of
the Company’s Inform Business Segment to Vaisala. The Complaint alleges that
the Recommendation Statement is deficient because it fails to disclose (a) the
rationale for selling the Company’s Inform Business Segment to Vaisala instead
of seeking a sale of the entirety of the Company, (b) did Trinity indicate that
it was not interested in acquiring the Company’s Inform Business Segment, (c)
were the indication of interests from Company A indications to acquire the
entirety of the Company, and (d) were any other companies contacted to
ascertain whether anyone else was interested in paying a higher price than
Vaisala for the Company’s Inform Business Segment.
	 
	 	(vi)	 	According to the Recommendation Statement in evaluating the
Merger Agreement and the transactions contemplated therein, Quixote’s board of
directors considered “whether parties other than Trinity or Company A would be
willing or capable of entering into a transaction with Quixote that would
provide value to Quixote’s stockholders superior to the Offer Price.” The
Complaint alleges that the Recommendation Statement is deficient because it
fails to disclose the conclusion reached from this consideration.
	 
	 	(vii)	 	According to the Recommendation Statement, on October 16,
2009, Mr. McWhirter and Mr. Stiles of Trinity met with Mr. Jezuit and Mr. Gorey
to discuss the possibility of Trinity acquiring a portion of Quixote’s Protect
and Direct business segment. The Complaint alleges that the Recommendation
Statement is deficient because it fails to disclose (a) at whose request was
this meeting held and (b) were discussions held regarding Trinity acquiring the
entire Company.
	 
	 	(viii)	 	According to the Recommendation Statement, during July 2008 and August 2008,
JPMorgan representatives had several 

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	 	 	 	conversations with Company A and its
financial representatives. During this period, JPMorgan also spoke with
another potential strategic buyer, as well as representatives of a Company
employee who had expressed interest in
proposing a management buyout of Quixote (the “Management Buyer”). The
Complaint alleges that the Recommendation Statement is deficient because it
fails to disclose the substance of the conversations with Company A and its
representatives and the Management Buyer.
	 
	 	(ix)	 	According to the Recommendation Statement, on August 5, 2008,
JPMorgan made a presentation at a meeting of the board of directors of the
Company in Chicago, Illinois covering a range of topics, including valuation,
strategic alternatives and the results of their discussions with third parties.
The Complaint alleges that the Recommendation Statement is deficient because
it fails to disclose the substance of this presentation including information
regarding valuation and the strategic alternatives available to the Company.
	 
	 	(x)	 	According to the Recommendation Statement, on October 8, 2008,
the board of directors of Quixote met in Chicago, Illinois. At that meeting,
JPMorgan provided an update on its discussions with Company A, provided its
evaluation of other potential buyers, updated its valuation review of the
Company and presented an overview of the credit market crisis and its potential
effects on any strategic transactions. Holland & Knight then made a
presentation on governance matters. The board of directors and its advisors
had a series of discussions on these presentations. The Complaint alleges that
the Recommendation Statement is deficient because it fails to disclose the
substance of this presentation as well as the discussions had regarding the
same.

     WHEREAS, the Complaint also alleged, inter alia, that by reason of Defendants’ actions,
Plaintiffs and members of the Putative Class (the “Putative Class Members”) had suffered and would
suffer irreparable harm for which they had no adequate remedy at law, and requested that the
Illinois Circuit Court grant appropriate relief for such alleged harm;

     WHEREAS, on or about January 19, 2010, Plaintiff Superior Partners filed a Motion Seeking (i)
A Temporary Restraining Order, (ii) Expedited Discovery and (iii) A

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Post-Expedited Discovery
Hearing Date On A Motion For A Preliminary Injunction (the “Expedited Discovery/TRO Motion”) and
scheduled a hearing on the same for January 22, 2010 (the “Expedited Discovery/TRO Hearing.”)

     WHEREAS, on or about January 21, and January 22, 2010, the Parties conferred with the Illinois
Circuit Court and on January 22, 2010 jointly asked the Illinois Circuit Court to adjourn the
Expedited Discovery/TRO Hearing until January 26, 2010 so that the Parties could pursue settlement
negotiations;

     WHEREAS, on or around January 21, 2010 the Parties entered into a confidentiality agreement
and that same day Defendants produced over several hundred pages of documents to counsel for
Plaintiff;

     WHEREAS, between January 20, 2010 and January 26, 2010, counsel for the Defendants, Counsel
for Trinity, and counsel for Plaintiff engaged in good faith discussions with regard to the
possible settlement of the Action;

     WHEREAS, on January 25, 2010, Defendants filed their Memorandum of Law in Opposition to
Plaintiff Superior Partners’ Motion, and Trinity filed a Joinder adopting and joining in
Defendants’ arguments in Opposition to Plaintiff’s Motion;

     WHEREAS, after extensive negotiations, the Parties reached an agreement in principle
concerning the proposed settlement of the Action, which is set forth in this MOU;

     WHEREAS, on January 26, 2010 the parties appeared before the Court in connection with the
Expedited Discovery/TRO Hearing where the Court, having been advised by the Parties that they had
reached a an agreement on all material terms of a settlement, issued orders as follows: (i)
granting Richard Brualdi’s pro hac vice motion;

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(ii) granting Plaintiff’s request to withdraw its
Expedited Discovery/TRO Motion; (iii) directing that settlement of the Action is contingent upon
(a) proof of Superior Partners’ share ownership in Quixote as of January 26, 2010 and/on or before
December 29, 2009, (b) proper notice to the class, (c) execution of a definitive settlement
agreement which contains customary terms and (d) court approval; (iv)
dismissing Trinity without prejudice; (v) scheduling a status conference for April 12, 2010 at 9:30
a.m.;

     WHEREAS, Defendants deny all allegations of wrongdoing, fault, liability or damage to
Plaintiff and the Putative Class, deny that they are engaged in any wrongdoing or violation of law
or breach of duty, and believe that they acted properly at all times, but wish to settle the
litigation on the terms and conditions stated in this MOU in order to eliminate the burden and
expense of further litigation and to put the claims to be released hereby to rest finally and
forever, and to avoid any possible delay in the tender of shares pursuant to the Tender Offer;

     WHEREAS, the entry by Plaintiff into this MOU is not an admission as to the lack of any merit
of any claims asserted in the Action;

     WHEREAS, all Parties recognize the time and expense that would be incurred by further
litigation in this matter and the uncertainties inherent in such litigation.

NOW THEREFORE THE PARTIES AGREE TO SETTLE THE ACTION (SUBJECT TO APPROVAL OF THE ILLINOIS CIRCUIT COURT) ON THE FOLLOWING TERMS:

     1. In consideration for the full settlement and release of all Settled Claims (as defined
below) the Company has agreed to disclose the additional information (the “Supplemental
Disclosures”) in a supplement (the “Supplement”), the form and content of which is attached hereto
as Exhibit A, that the Company will file with the SEC and

7

 

make available to Quixote’s shareholders,
on or before January 29, 2010 or as reasonably practicable thereafter, which additional information
constitutes materially all of the information sought in Plaintiff’s complaint.

     2. Defendants acknowledge that the decision to disclose the Supplemental Disclosures in the
Supplement was a direct and sole result of the Action, the efforts of counsel
for Plaintiff in the Action (“Plaintiff’s Counsel”), and extensive negotiations between
counsel for Plaintiff and Defendants.

     3. Plaintiff’s Counsel shall conduct such reasonable additional confirmatory discovery as is
appropriate and necessary and as agreed to by the Parties, including interviews , to confirm the
fairness and reasonableness of the terms of this settlement (“Confirmatory Discovery”). The
Parties will attempt in good faith and use their best efforts to complete Confirmatory Discovery no
later than forty (40) business days after the closing of the Transaction.

     4. The Parties shall negotiate in good faith and execute an appropriate final settlement
agreement (the “Settlement Agreement”) and such other documentation (collectively the “Settlement
Documents”) as may be required to obtain Final Court Approval of the settlement by the Illinois
Circuit Court upon the terms contained herein. The Settlement Agreement shall provide for, but
shall not be limited to: (a) the certification for purposes of settlement only under 735 ILCS
5/2-801 of a class consisting of all persons or entities who owned Quixote’s common stock on
December 30, 2009, and, to the extent acting as such, all of their successors in interest and
transferees, immediate and remote, through and including the closing of the Transaction and all of
their predecessors, trustees, executors, administrators, heirs, assigns and transferees,

8

 

immediate
and remote, and any person acting for or on behalf, claiming under any of them and each of them
(the “Class”), provided, however, that excluded from the Class are Defendants and persons or
entities related to or affiliated with Defendants and/or Trinity; (b) a form of proposed scheduling
order (the “Scheduling Order”); (c) a form of proposed notice to be sent to Quixote shareholders
(the “Notice”); and (d) a form of proposed final order and judgment containing releases and
dismissing the litigation with prejudice (the “Final Order and Judgment”).

     5. The Settlement Agreement will provide that Defendants shall be solely responsible for
providing and paying for notice to the putative class as required by the Illinois Circuit Court.

     6. The Settlement Agreement shall also include the following provisions: (a) that Defendants
and Trinity have denied and continue to deny that they have committed or attempted to commit any
violations of law or breached any duty owed to Quixote or its stockholders; (b) that the Settlement
is subject to the successful completion of the Transaction; and (c) that in the event the
Settlement does not become final for any reason, the parties agree to the restoration of their
respective positions before the execution of this MOU, and Defendants and Trinity reserve the right
to oppose certification of any class in any future proceedings.

     7. The Defendants agree that the Action is being settled voluntarily after consultation with
competent legal counsel.

     8. The parties will present the Settlement Documents to the Illinois Circuit Court for
approval as soon as practicable following their execution, and will cooperate to obtain Final Court
Approval of the Settlement and the dismissal of the Action with

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prejudice as to all claims asserted
against Defendants and Trinity in the Action and without costs to any party (other than counsel
fees and expenses as provided herein). As used herein, “Final Court Approval” of the Settlement
means that the Illinois Circuit Court has entered an order approving the Settlement and that such
order is finally affirmed on appeal or is no longer subject to appeal. The Parties acknowledge
that the Transaction is likely to close before Final Court Approval.

     9. The Settlement Documents will also provide that the Defendants acknowledge that Plaintiff’s
counsel have a claim for attorneys’ fees and reimbursement of expenses in this action based upon
the benefits that the Settlement has and will provide to the members of the putative class, and
that, rather than continuing to litigate this issue, the parties to this Settlement
(after negotiating the other elements of the Settlement) agreed that, subject to Court
approval of the Settlement (including approval of the resolution of Plaintiff’s counsel’s claim for
attorneys’ fees and reimbursement of expenses),, Defendants will cause to be paid to Plaintiff’s
Counsel the sum of $431,000 U.S. dollars or such lesser sum as approved by the Court in full
settlement of this claim for attorneys’ fees and reimbursement of expenses as a unitary term of the
settlement. The amounts paid to Plaintiff’s counsel for attorneys’ fees and reimbursement of
expenses will not be paid out of amounts that would otherwise have been paid to the members of the
putative class. The Settlement Agreement will provide that the payment of the settled claim for
attorneys’ fees and reimbursement of expenses will be made within twenty (20) days after approval
of the settlement by the Circuit Court subject to the joint and several obligation of Plaintiff’s
counsel to refund those fees should the approval of the settlement or the approval of the
settlement of the claim for attorneys’ fees and

10

 

expenses be reversed on appeal. At the time the
fees and reimbursement of expenses are paid they shall be paid by check made payable to The Brualdi
Law Firm, P.C., as receiving agent for Plaintiff’s Counsel, to allocate among Plaintiff’s Counsel
as it believes to reflect the relative contributions of each counsel to the prosecution of the
Action. The Settlement Agreement will provide that Defendants agree not to oppose such fees and
reimbursement of expenses either at the trial court or on any appeal by members of the Putative
Class. Counsel for Defendants and Plaintiff’s Counsel negotiated the provisions herein related to
the attorneys’ fees and reimbursement of expenses after the Parties had agreed to the other
substantive terms of the MOU contained herein.

     10. The consummation of the Settlement is subject to and contingent upon the occurrence of all
of the following events:

	 	(a)	 	The satisfactory completion of confirmatory discovery by
Plaintiff’s Counsel.
	 
	 	(b)	 	The Final Court Approval of the Settlement by the Illinois
Circuit Court and entry of the Final Order and Judgment and bar order
(substantially in the form submitted by the Parties or as modified by the Court
or pursuant to an agreement by all Parties and including certification by the
Illinois Circuit Court of a class as described in paragraph 4 above);
	 
	 	(c)	 	The Final Order and Judgment becoming final, which shall occur
one business day following the later of the following events: (i) the date upon
which the time expires for filing or noticing any appeal 

11

 

	 	 	 	of the Final Order and
Judgment to be provided for in the Settlement Agreement and (ii) if there is an
appeal or appeals, the completion, in a manner that affirms and leaves in place
the Final Order and Judgment without any material modification, of all
proceedings arising out of the appeal or appeals (including, but not limited
to, the expiration of all deadlines for motions for reconsideration, all
proceedings ordered on remand, and all proceedings arising out of any
subsequent appeal or appeals following decisions on remand); and
	 
	 	(d)	 	The closing of the Transaction.

     11. The “Effective Date of the Settlement” shall be the earliest business day after the
occurrence of all of the events specified in Paragraphs 10 (a) through (d).

     12. The Settlement Agreement will provide that, upon the Effective Date of the Settlement, the
following parties will be released (the “Released Parties”) with respect to the Released Claims (as
defined below): All parties to the Action and their counsel (including but not limited to
Defendants), and Trinity and its Counsel,, and to the extent acting as such, all of Defendants’ and
Trinity’s respective present or past heirs, executors, estates, administrators,
predecessors, successors, assigns, parents, subsidiaries, associates, affiliates, employers,
employees, agents, consultants, insurers, directors, managing directors, officers, partners,
partnerships, principals, limited liability companies, members, bankers, consultants, trustees,
insurers, co-insurers, reinsurers, accountants, financial and other advisors, investment bankers,
underwriters, lenders,

12

 

auditors, and any other representatives of any of these persons or entities,
whether or not such Released Parties were named, served with process, or appeared in the Action.

     13. The Settlement Agreement will provide that, upon the Effective Date of the Settlement, the
following claims will be fully, absolutely, and forever released, dismissed, discharged,
relinquished, compromised, and settled with prejudice (the “Released Claims”) with respect to the
Released Parties, except as may exist with respect to claims belonging to the Defendants and
Trinity against their insurers or co-insurers: All rights, actions, causes of action, suits,
debts, dues, sums of money, accounts, liabilities, losses, obligations, fees, costs, reckonings,
bonds, bills, specialties, controversies, agreements, contracts, variances, trespasses, damages,
judgments, extensions, executions, claims, and demands whatsoever, whether known or unknown,
contingent or absolute, suspected or unsuspected, disclosed or undisclosed, matured or unmatured,
that have been, could have been, or in the future could be or might be asserted, by or on behalf of
Plaintiff and any or all members of the Putative Class (the “Releasing Parties”) that relate in any
way to (i) the events leading up to Merger Agreement, the Tender Offer, or the Transaction
(collectively, the “Transaction”) or any amendment or modification thereto, including the
Transaction itself; (ii) the fiduciary and other duties owed by Defendants and the Released Parties
to shareholders of Quixote in connection therewith; and/or (iii) Defendants’ and the Released
Parties’ disclosure obligations under federal, state or any other law in connection with the Merger
Agreement, the Tender Offer, or the Transaction (but excluding statutory claims
for appraisal and also claims to enforce this Settlement). Additionally, upon the Effective Date
the Defendants will release all claims, including Unknown Claims, they may have

13

 

against Plaintiff
or Plaintiff’s Counsel relating to their filing and prosecution of the Action (the “Defendants’
Claims”).

     14. The term “unknown” in the definition of the Released Claims and Defendants’ Claims
includes claims that Plaintiff, the Releasing Parties, Defendants, the Released Parties, any or all
members of the Putative Class, and any or all other persons and entities whose claims are being
released, do not know or suspect to exist, which, if known by him, her or it, might affect his, her
or its agreement to release the Released Parties and the Released Claims, or might affect his, her
or its decision to object to or not object to the Settlement (“Unknown Claims”). Upon the
Effective Date, Plaintiff, Defendants, all members of the Putative Class, the Releasing Parties,
and all other persons and entities whose claims are being released, shall be deemed to have, and
shall have, expressly waived and relinquished, to the fullest extent permitted by law, the
provisions, rights and benefits of §1542 of the California Civil Code, which provides as follows:

A GENERAL RELEASE DOES NOT EXTEND TO

CLAIMS, WHICH THE CREDITOR DOES NOT KNOW

OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME

OF EXECUTING THE RELEASE, WHICH IF KNOWN

BY HIM MUST HAVE MATERIALLY AFFECTED HIS

SETTLEMENT WITH THE DEBTOR.

     15. Upon the Effective Date, Defendants, the Released Parties, Plaintiff, the Releasing
Parties, all members of the Putative Class, and all other persons and entities whose claims are
being released, also shall be deemed to have, and shall have, waived any and all provisions, rights
and benefits conferred by any law of any state or territory of the United States, or principle of
common law, which is similar, comparable or equivalent to §1542 of the California Civil
Code. Defendants and Plaintiff, on behalf of

14

 

the Putative Class, acknowledge that members of the
Putative Class may discover facts in addition to or different from those that they now know or
believe to be true with respect to the subject matter of this release, but that it is their
intention, on behalf of the Putative Class, to fully, finally and forever to settle and release the
Released Claims, including Unknown Claims, as that term is defined herein.

     16. This MOU and all negotiations, discussions and proceedings in connection with this MOU,
shall not constitute any evidence, or any admission by any of the Defendants or Released Parties,
that any acts of wrongdoing have been committed and shall not be deemed to create any inference
that there is any liability on the part of any of the Defendants or Released Parties. This MOU and
all negotiations, discussions and proceedings in connection with this MOU shall not be offered or
received in evidence or used for any other purpose in this or any other proceeding in any court,
administrative agency, arbitration forum, or other tribunal other than as may be necessary to
enforce the terms of the MOU. Defendants and Trinity have denied and continue to deny that they
have committed or attempted to commit any wrongdoing, violations of law, or breached any duty to
Plaintiff or class members or anyone else.

     17. Pending negotiation and execution of the Stipulation of Settlement and Final Court
Approval, the Parties agree to stay any discovery (except Confirmatory Discovery) and to stay and
not to initiate any and all other proceedings other than those incident to the Settlement itself.
The Parties also agree to use their best efforts to prevent, stay or seek dismissal of or oppose
entry of any interim or final relief in favor of any member of the Putative Class in any other
litigation against any of the parties to this

15

 

MOU which challenges the Settlement, the Merger
Agreement, the Tender Offer, or otherwise involves a Settled Claim.

     18. This MOU shall be null and void and of no force and effect, unless otherwise agreed to by
the Parties pursuant to the terms hereof, if (a) the Settlement does not obtain Final
Court Approval; provided, however, that any decision by a court not to approve the amount of
attorneys’ fees and expenses sought by counsel for Plaintiff shall not void the Stipulation or the
Settlement, or (b) the Transaction, including any amendment thereto, is not concluded for any
reason. In the event that any Party withdraws from the Settlement, this MOU shall not be deemed to
prejudice in any way the respective positions of the Parties with respect to the Action.

     19. This MOU may be modified only by a writing signed by counsel for all Parties.

     20. This MOU is binding upon and shall inure to the benefit of the Parties and their
respective agents, successors, executors, heirs and assigns.

     21. This MOU shall be governed by the law of the State of Delaware, without regard to Illinois
conflict of law rules. This MOU may be executed in any number of actual, telecopied or
electronically transmitted counterparts and by each of the different Parties on several
counterparts, each of which when so executed and delivered will be an original. The executed
signature page(s) from each actual, telecopied or electronically transmitted counterparts may be
joined together and attached and will constitute one and the same instrument.

16

 

	 	 	 
	Dated: January 28, 2010
	 	 
	 
	 	 
	ATTORNEYS FOR PLAINTIFF SUPERIOR PARTNERS
	 
	 	 
	/s/ RICHARD B. BRUALDI
	 	 
	 

RICHARD B. BRUALDI (Admitted pro hac vice)

	 	 
	THE BRUALDI LAW FIRM, P.C.
	 	 
	29 Broadway, Suite 2400
	 	 
	New York, New York 10006
	 	 
	(212) 952-0602
	 	 
	(212) 952-0608 (FAX)
	 	 
	rbrualdi@brualdilawfirm.com
	 	 
	 
	 	 
	ATTORNEYS FOR DEFENDANTS LESLIE J. JEZUIT, BRUCE REIMER,
	DANIEL P. GOREY, ROBERT D. VAN ROIJEN, LAWRENCE C. MCQUADE,
	DUANE M. TYLER, CLIFFORD D. NASTAS, QUIXOTE CORPORATION
	 
	 	 
	/s/ PAMELA G. SMITH
	 	 
	 

	 	 
	PAMELA G. SMITH
	 	 
	KATTEN MUCHIN ROSENMAN LLP
	 	 
	525 West Monroe Street
	 	 
	Chicago, Illinois 60661-3693
	 	 
	(312) 902-5442
	 	 
	(312) 577.4770 9 (FAX)
	 	 
	pamela.smith@kattenlaw.com
	 	 

17

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