Document:

ex10-2.htm

    Exhibit 10.2

     

    Omnibus
Incentive Compensation Plan

     

    2008
Stock Unit/Restricted Stock Agreement

     

    

     

    
      	 
      	
              Grantee

            	 
      
	 
      	
              Date
      of Grant

            	
              Effective
      February 27, 2008

            
	 
      	
              Number
      of Stock Units Granted:

            	
              Total
      of   ______ Stocks
      Units

            
	 
      	
              Tranche
      A

            	 
      
	 
      	
              Tranche
      B

            	 
      
	 
      	
              Tranche
      C

            	 
      

    

    

     

    1. Stock Unit
Grants.  I am pleased to inform you that you have been granted
Stock Units with respect to shares of common stock of Frontier Oil Corporation
(the “Company”) under the Frontier Oil Corporation Omnibus Incentive
Compensation Plan (the “Plan”).  A Stock Unit is a notional (phantom)
share of Company stock.  The terms of the grants are subject to the
terms of the Plan and this Agreement, which includes Attachment A
hereto.

     

    2. Performance Goals/Restricted
Stock Grants.  If, and to the extent, the Performance Goal
applicable to a Tranche of Stock Units is achieved and certified by the
Committee (as set forth on Attachment A), at the end of the Performance Period
you will receive, in cancellation of and in exchange for your Stock Units
subject to that Tranche, a number of shares of Restricted Stock (except with
respect to the Tranche C Stock Units for which you will receive fully vested
shares of Company Stock (“Vested Shares”) instead of Restricted Stock) equal to
the product of the applicable Stock Units earned percentage set forth in Item I
on Attachment A and the number of Stock Units granted to you with respect to
that Tranche.  If the Threshold for a particular Tranche is not
achieved for the Performance Period, all Stock Units that are subject to that
Tranche will automatically be cancelled without payment at the end of the
Performance Period.

     

    3.           Vesting.  To
the extent Stock Units are earned with respect to Tranche A or Tranche B and
shares of Restricted Stock are granted to you at the end of the Performance
Period, then, subject to the further provisions of this Agreement, those shares
of Restricted Stock will vest as follows:  one-third on June 30, 2009,
one-third on June 30, 2010 and the final one-third on June 30, 2011. Shares
issued with respect to Stock Units that are subject to Tranche C will be Vested
Shares.

    

     

    Notwithstanding
the above vesting schedule, upon the occurrence of any of the following events
during the Vesting Period (the period beginning January 1, 2009 and ending June
30, 2011), all shares of Restricted Stock then outstanding, if any, shall become
vested or forfeitable, as the case may be, as provided below:

     

    
      	
               
      

            	
              (a)

            	
              Death, Retirement or
      Disability.  If you cease to be an employee of the
      Company and its Affiliates during the Vesting Period as a result of your
      death, Retirement or a disability that entitles you to disability benefits
      under the Company’s long-term disability plan, any shares of Restricted
      Stock then outstanding automatically shall become 100% vested upon your
      termination of employment.  As used herein, “Retirement” means
      your termination of employment with the Company and its Affiliates for
      reasons other than Cause after your 55th
      birthday and with the consent of the
Committee.

            

    

     

    
      	
               
      

            	
              (b)

            	
              Other
      Terminations.  If you cease to be an employee of the
      Company and its Affiliates (i) during the Performance Period for any
      reason, all Stock Units awarded to you automatically shall be forfeited
      without payment upon your termination and (ii) during the Vesting Period
      for any reason other than due to death, Retirement or disability as
      provided in paragraph 3(a) above, all shares of Restricted Stock then
      outstanding, if any, (or earned but not yet granted to you after the
      Performance Period, if any) automatically shall be forfeited without
      payment upon your termination of employment.  However, if you
      Retire per the definition in Section 3(a) above during a multi-year
      performance period, that performance period will be shortened to end on
      the actual retirement date as long as the modified performance period is
      at least a year in length, and your award and payment will be determined
      by the modified performance period.  Otherwise, retirement
      during a performance period will result in forfeiture of Stock
      Units.

            

    

     

    
      	
               
      

            	
              (c)

            	
              Change of
      Control.  Upon the occurrence of a Change of Control (A)
      during the Performance Period, your Stock Units shall be cancelled in full
      on such date and you will be paid (i) a number of Shares equal to 125% of
      the number of Stock Units then credited to you plus (ii) an amount of cash
      equal to the amount of cash and stock dividend equivalents that would have
      been then credited to you if the Stock Units instead had been shares of
      Restricted Stock and (B) during the Vesting Period, (i) all shares of
      Restricted Stock, if any, then outstanding (or earned but not yet granted
      to you after the Performance Period, if any) automatically shall become
      100% vested on such date and (ii) you will be paid all dividend
      equivalents (in cash or stock, as applicable) then credited to you
      pursuant to Section 4.

            

    

     

    For
purposes of this Agreement, “employment with the Company” shall include being an
employee or a Director of, or a Consultant to, the Company or an
Affiliate.

     

    4. Dividend
Equivalents.  If you receive a grant of Restricted Stock or are
paid Vested Shares pursuant to Section 2, then, on or as soon as practicable
following the vesting of a share of Restricted Stock (but not later than 21⁄2
months after such vesting date), or the receipt of the Vested Shares, as the
case may be, the Company shall pay you (i) an amount of cash equal to the value
of all cash dividends the Company has paid with respect to a share of Company
stock during the period beginning on the Date of Grant and ending on the date
the share of Restricted Stock became vested or the Vested Share was issued (the
“Dividend Period”) and (ii) a number of Shares equal to the number of stock
dividends paid during the Dividend Period with respect to a
Share.  Dividend equivalents (cash or stock) shall not be payable with
respect to any Stock Unit that is not earned or any share of Restricted Stock
that is forfeited.

     

    5. Nontransferability of
Award.  The Stock Units and any shares of Restricted Stock
granted to you may not be transferred in any manner otherwise than by will or by
the laws of descent or distribution.  The terms of the Plan and this
Agreement shall be binding upon your executors, administrators, heirs,
successors and assigns.

     

    6. Entire Agreement; Governing
Law.  The Plan is incorporated herein by
reference.  The Plan and this Agreement constitute the entire
agreement of the parties with respect to the subject matter hereof and, except
as expressly provided in this Agreement, supersede in their entirety all prior
undertakings and agreements between you and the Company with respect to the
same.  This Agreement is governed by the internal substantive laws,
but not the choice of law rules, of the State of Texas.

     

    7. Withholding of
Tax.  To the extent that the vesting or payment of Stock Units,
Restricted Stock, Vested Shares or payment of a dividend equivalent results in
the receipt of compensation by you with respect to which the Company or an
Affiliate has a tax withholding obligation pursuant to applicable law, unless
other arrangements have been made by you that are acceptable to the Company or
such Affiliate, you shall deliver to the Company or an Affiliate such amount of
money as the Company or an Affiliate may require to meet its withholding
obligations under such applicable law; provided, however, you may direct the
Company to withhold such number of Shares that would otherwise be delivered to
you hereunder upon vesting that have an aggregate fair market value that does
not exceed the amount of taxes required to be withheld by the Company or an
Affiliate.  No delivery of Shares shall be made pursuant to this
Agreement until you have paid or made arrangements approved by the Company or an
Affiliate to satisfy in full the applicable tax withholding requirements of the
Company or an Affiliate.

     

    8. Amendment.  This
Agreement may be modified only by a written agreement signed by you and an
officer of the Company who is expressly authorized by the Company to execute
such document; provided, however, notwithstanding the foregoing, the Company may
make any change to this agreement without your consent if such change is not
materially adverse to your rights under this Agreement.

     

    9. General.  By
accepting this grant, you agree that the Stock Units, shares of Restricted
Stock, if granted, and vested Stock are granted or issued under and governed by
the terms and conditions of the Plan and this Agreement.  In the event
of any conflict, the terms of the Plan shall control.  Unless
otherwise defined herein, the terms defined in the Plan shall have the same
defined meanings in this Agreement.

     

    10. Change of Control and/or
Severance Agreement.  Notwithstanding anything in this
Agreement to the contrary, the terms of any Change of Control and/or Severance
Agreement between you and the Company in effect on the Date of Grant are
incorporated herein by reference and to the extent such agreement continues to
be in effect on any relevant date hereunder, shall control over any provisions
in this Agreement in conflict with the terms of such Change of Control and/or
Severance Agreement.

     

    FRONTIER OIL CORPORATION

    

    

    By:___________________________

    Name:  James R.
Gibbs

    Title:    Chairman,
President and CEO

    

    

    

    EMPLOYEE:

    

    _______________________________

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    ATTACHMENT
A

    I.           Performance
Goals

     

    The
Performance Period shall be (i) the 2008 calendar year for Tranche A and Tranche
B Stock Units and (ii) the 2008, 2009 and 2010 three-year calendar period for
the Tranche C Stock Units.

     

    A.           Tranche
A Stock Units: Net Income

     

    
      	
              Net Income for

              Performance Period 1

            	
               

              Award Level

            	
              Stock
      Units Earned

              as a % of Target 2

            
	
              <$151.2
      MM

            	
              <
      Threshold

            	
              -0-

            
	
              $151.2
      MM

            	
              Threshold

            	
              75%

            
	
              $189.0
      MM

            	
              Target

            	
              100%

            
	
              $226.8
      MM

               

            	
              Maximum

            	
              125%

            
	
              1  Net
      income as reported in the Company’s Annual Report to Shareholders for
      2008, subject to adjustment as provided in Item II below.

               

              2  If
      Net Income falls between two Award Levels, the percentage of Stock Units
      earned will be interpolated on a straight line basis between the two
      closest points in the table above.

            

    

    

    B.           Tranche
B Stock Units: Return on Capital Employed1
(“ROCE”) vs Peers

     

    
      	
              ROCE vs Peers 2

            	
              Award Level

            	
              Stock
      Units Earned

              as a % of Target 3

            
	
              <0.80

            	
              <Threshold

            	
              -0-

            
	
              0.80

            	
              Threshold

            	
              75%

            
	
              1.05

            	
              Target

            	
              100%

            
	
              1.30

               

            	
              Maximum

            	
              125%

            
	
              1
      ROCE is calculated as EBITDA divided by (average of the beginning
      of year and end of year Shareholders Equity plus the average of the
      beginning of year and end of year net debt).

            
	
              2   ROCE
      vs Peers is calculated by dividing the Company’s 2008 ROCE by the simple
      average 2008 ROCE achieved by the following independent refiners: Holly
      Corporation, Valero Corporation, Tesoro Corporation, Western Refining,
      Sunoco Corporation and Alon USA Energy.

            
	
              3 If ROCE
      vs Peers falls between two Award Levels, the percentage of Stock Units
      earned will be interpolated on a straight-line basis between the two
      closest points in the table above.

            

    

    

     

    C.           Tranche
C Stock Units:  3-year Total Shareholder Return (“TSR”) vs
Peers

     

    
      	
              TSR vs Peers 1

            	
              Award Level

            	
              Stock
      Units Earned

              as a % of Target 2

            
	
              <0.80

            	
              <Threshold

            	
              -0-

            
	
              0.80

            	
              Threshold

            	
              75%

            
	
              1.05

            	
              Target

            	
              100%

            
	
              1.30

               

            	
              Maximum

            	
              125%

            
	
              1
      3-year TSR vs Peers is calculated by dividing the sum of one plus
      the Company’s three-year TSR (from January 2008 to December 2010) by the
      sum of one plus the average TSR for the same period for the following
      companies: Holly Corporation, Valero Corporation, Tesoro Corporation,
      Western Refining, Sunoco Corporation and Alon USA Energy. TSR equals the
      percentage change in share price plus the total yield attributable to cash
      and stock dividends for the three-year period.  The January 2008
      stock price will be calculated using the average closing prices on the
      stock for the first twenty trading days of January 2008; the December 2010
      stock price will be calculated using the average closing prices on the
      stock for the final twenty trading days in December
  2010.

            
	
              2  If
      TSR vs Peers falls between two Award Levels, the percentage of Stock Units
      earned will be interpolated on a straight-line basis between the two
      closest points in the table above.

            

    

    

    II.           Adjustments
to Performance Goals for Certain Events

     

    If,
during the Performance Period, there is change in accounting standards required
by the Financial Accounting Standards Board, the performance goals in the above
tables A & B shall be adjusted as appropriate to disregard the effect of
such change.

     

    In the
event of an acquisition or disposition of a business operation by the Company or
an Affiliate during the Performance Year, or any other Extraordinary Item(s) (as
determined for GAAP purposes and reflected in the Company’s Annual Report to
Stockholders) during the Performance Period, for purposes of comparing results
with the performance goals for the Performance Period, the actual results and
the dollar amount of the performance goals shall exclude the effect of such
acquisition, disposition or other Extraordinary Item(s) (applies to tables A and
B only).

     

    If a Peer
company ceases to be publicly traded during the three-year Performance Period,
such company shall be excluded from the calculation.

     

    Notwithstanding
the foregoing, however, an adjustment pursuant to this Section II may be made
only to the extent the adjustment does not cause the award to cease to qualify
as a “performance-based” award under IRC Section 162(m) and applicable Treasury
regulations thereunder.

     

    III.           Committee
Certification

     

    As soon
as reasonably practical following the end of the Performance Period, the
Committee shall review the Performance Goal results for the Performance Period
(as adjusted by the Company, if applicable) and certify those results in
writing.  No cash payments, shares of Restricted Stock or Vested
Shares shall become paid or issuable to you prior to the Committee’s
certification.   However, Committee certification shall not apply
in the event of a Change of Control.exhibit10-1.htm

     

      
        

      

    

    Exhibit 10.1

    

    

    

     

    

    
      

      

    

     

    

     

    AMENDMENT
NO. 4

     

    TO
CREDIT AGREEMENT

     

    dated
as of

    May
2, 2008

     

    Among

     

    ICO,
INC.,

    BAYSHORE
INDUSTRIAL, L.P. and

    ICO
POLYMERS NORTH AMERICA, INC.,

    as
Borrowers,

     

    

    KEYBANK
NATIONAL ASSOCIATION,

    WELLS
FARGO BANK, NATIONAL ASSOCIATION,

    AND
THE OTHER LENDING INSTITUTIONS NAMED HEREIN,

    as
Lenders,

    

    and

    

    KEYBANK
NATIONAL ASSOCIATION,

    as
an LC Issuer, Lead Arranger, Bookrunner,

    Administrative
Agent and Syndication Agent

    

    and

    

    WELLS
FARGO BANK, NATIONAL ASSOCIATION,

    as
Swing Line Lender

    

    

    

    
      

      

    

    

    

    

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    EXECUTION
VERSION

    

    AMENDMENT NO. 4 TO CREDIT
AGREEMENT

    

    This
Amendment No. 4 to Credit Agreement (this “Amendment”) is made
as of May 2, 2008, by and among the following:

              (i)           ICO,
INC., a Texas corporation (“ICO”), BAYSHORE
INDUSTRIAL, L.P., a Texas limited partnership (“Bayshore”), and ICO
POLYMERS NORTH AMERICA, INC., a New Jersey corporation (“ICO Polymers,” and
together with ICO and Bayshore, the “Borrowers” and
individually, each a “Borrower”);

     

              (ii)           KEYBANK
NATIONAL ASSOCIATION, a national banking association, WELLS FARGO BANK, NATIONAL
ASSOCIATION, a national banking association, and the other lending institutions
from time to time party hereto (each a “Lender” and
collectively, the “Lenders”);

     

              (iii)           KEYBANK
NATIONAL ASSOCIATION, a national banking association, as an LC Issuer, lead
arranger, bookrunner, and administrative agent (in such capacity as
administrative agent, the “Administrative
Agent”); and

     

              (iv)           WELLS
FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as the Swing
Line Lender.

     

    RECITALS:

     

              A.           The
Borrowers, the Administrative Agent and the Lenders are parties to the Credit
Agreement, dated as of October 27, 2006, as amended by Amendment No. 1 and
Waiver to Credit Agreement, dated April 25, 2007, Amendment No. 2 to Credit
Agreement, dated June 25, 2007, and Amendment No. 3 and Waiver to Credit
Agreement, dated October 1, 2007 (as may be further amended, restated,
supplemented or otherwise modified from time to time, the “Credit
Agreement”).

     

              B.           The
Borrowers, the Administrative Agent and the Lenders desire to further amend the
Credit Agreement as more fully set forth herein.

     

              C.           Each
capitalized term used herein and not otherwise defined herein shall have the
same meaning set forth in the Credit Agreement.

     

    AGREEMENT:

     

              In consideration of the premises
and mutual covenants herein and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Borrowers, the
Administrative Agent and the Lenders agree as follows:

     

    1.           Amendment to Schedule
1.  Schedule 1 to the Credit Agreement is hereby amended and
restated in its entirety as set forth at Exhibit A
hereto.

     

    2.           Amendment to
Exhibits.  Exhibit A-1 to the Credit Agreement is hereinafter
referred to as Exhibit A-1A and is hereby amended and restated in its entirety
as set forth on Exhibit B and a new
Exhibit A-1B is added to the Credit Agreement in the form set forth at Exhibit C
hereto.

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    3.    New
Definitions.  The following definitions shall be added to
Section 1.01 of the Credit Agreement in the appropriate alphabetical
order:

     

    “Adjusted Aggregate Revolving
Facility Exposure” means at any time the sum of (i) the principal amount
of all Revolving A Loans Outstanding at such time and (ii) the aggregate amount
of the LC Outstandings at such time.

     

    “Amendment No. 4 Effective
Date” means May 2, 2008.

     

    “Revolving A
Borrowing” means the incurrence of Revolving A Loans consisting of one
Type of Revolving A Loan by the Borrowers from all of the Lenders having
Revolving A Commitments in respect thereof on a pro rata basis on a given
date (or resulting from Conversions or Continuations on a given date), having in
the case of any Eurodollar Loans the same Interest Period.

     

    “Revolving A
Commitment” means, with respect to each Lender, the amount set forth
opposite such Lender’s name in Schedule 1 hereto as
its “Revolving A Commitment,” or in the case of any Lender that becomes a party
hereto pursuant to an Assignment Agreement, the amount set forth in such
Assignment Agreement, as such commitment may be reduced from time to time
pursuant to Section 2.12(b) or (c) or adjusted from time to time as a result of
assignments to or from such Lender pursuant to Section 11.06.

     

    “Revolving A Facility”
means the credit facility established under Section 2.02(a) pursuant to the
Revolving A Commitment of each Lender.

     

    “Revolving A Facility
Availability Period” means the period from the Closing Date until the
Revolving Facility Termination Date.

     

    “Revolving A Facility
Exposure” means, for any Lender at any time, the sum of (i) the principal
amount of Revolving A Loans made by such Lender and outstanding at such time,
and (ii) such Lender’s share of the LC Outstandings at such time.

     

    “Revolving A Loan”
means, with respect to each Lender, any loan made by such Lender pursuant to
Section 2.02(a).

     

    “Revolving A Facility
Percentage” means, at any time for any Lender, the percentage obtained by
dividing such Lender’s Revolving A Commitment by the Total Revolving A
Commitment, provided,
however, that if the Total Revolving A Commitment has been terminated,
the Revolving A Facility Percentage for each Lender shall be determined by
dividing such Lender’s Revolving A Commitment immediately prior to such
termination by the Total Revolving A Commitment immediately prior to such
termination.  The Revolving A Facility Percentage of each Lender as of
the Closing Date is set forth on Schedule 1
hereto.

     

    “Revolving A Note”
means a promissory note substantially in the form of Exhibit A-1A
hereto.

     

    “Revolving B
Borrowing” means the incurrence of Revolving B Loans consisting of one
Type of Revolving B Loan by the Borrowers from all of the Lenders having
Revolving B Commitments in respect thereof on a pro rata basis on a given
date (or resulting from Conversions or Continuations on a given date), having in
the case of any Eurodollar Loans the same Interest Period.

     

    

    
      
        
           

        

        
          2 

          
            

          

        

        
           

        

      

    

    

    “Revolving B
Commitment” means, with respect to each Lender, the amount set forth
opposite such Lender’s name in Schedule 1 hereto as
its “Revolving B Commitment,” or in the case of any Lender that becomes a party
hereto pursuant to an Assignment Agreement, the amount set forth in such
Assignment Agreement, as such commitment may be reduced from time to time
pursuant to Section 2.12(b), (c) or (d) or adjusted from time to time as a
result of assignments to or from such Lender pursuant to Section
11.06.

     

    “Revolving B Facility”
means the credit facility established under Section 2.02(b) pursuant to the
Revolving B Commitment of each Lender.

     

    “Revolving B Facility
Availability Period” means the banking hours of the Amendment No. 4
Effective Date.

     

    “Revolving B Facility
Exposure” means, for any Lender at any time the principal amount of
Revolving B Loans made by such Lender and outstanding at such time.

     

    “Revolving B Facility
Percentage” means, at any time for any Lender, the percentage obtained by
dividing such Lender’s Revolving B Commitment by the Total Revolving B
Commitment, provided,
however, that if the Total Revolving B Commitment has been terminated,
the Revolving B Facility Percentage for each Lender shall be determined by
dividing such Lender’s Revolving B Commitment immediately prior to such
termination by the Total Revolving B Commitment immediately prior to such
termination.  The Revolving B Facility Percentage of each Lender as of
the Amendment No. 4 Effective Date is set forth on Schedule 1
hereto.

     

    “Revolving B Loan”
means, with respect to each Lender, any loan made by such Lender pursuant to
Section 2.02(b).

     

    “Revolving B Note”
means a promissory note substantially in the form of Exhibit A-1B
hereto.

     

    “Total Revolving A
Commitment” means the sum of the Revolving A Commitments of the Lenders
as the same may be decreased pursuant to Section 2.12(b) or (c)
hereof.  As of the Closing Date, the amount of the Total Revolving A
Commitment is $30,000,000.

     

    “Total Revolving B
Commitment” means the sum of the Revolving B Commitments of the Lenders
as the same may be decreased pursuant to Section 2.12(b), (c) or (d)
hereof.  As of the Amendment No. 4 Effective Date, the amount of the
Total Revolving B Commitments is $5,000,000.

     

    “Unused Revolving A
Commitment” means, for any Lender at any time, the excess of (i) such
Lender’s Revolving A Commitment at such time over (ii) such Lender’s Revolving A
Facility Exposure at such time.

     

    “Unused Revolving B
Commitment” means, for any Lender at any time, the excess of (i) such
Lender’s Revolving B Commitment at such time over (ii) such Lender’s Revolving B
Facility Exposure at such time.

     

    “Unused Total Revolving A
Commitment” means, at any time, the excess of (i) the Total Revolving A
Commitment at such time over (ii) the Aggregate Revolving A Facility Exposure at
such time.

     

    

    
      
        
           

        

        
          3 

          
            

          

        

        
           

        

      

    

    

    “Unused Total Revolving B
Commitment” means, at any time, the excess of (i) the Total Revolving B
Commitment at such time over (ii) the Aggregate Revolving B Facility Exposure at
such time.

     

    4.           Amended and Restated
Definitions.  Section 1.01 of the Credit Agreement is hereby
amended to amend and restate the definitions of “Aggregate Revolving Facility
Exposure,” “Applicable Margin,” “Asset Coverage Ratio,” “Commitment,”
“Consolidated Fixed Charges,” “Credit Facility,” “Inventory,” “Material Foreign
Indebtedness,” “Material Indebtedness Agreement,” “Note,”
“Permitted  Foreign Subsidiary Loans and Investments,” “Revolving
Borrowing,” “Revolving Commitments,” Revolving Facility Exposure,” “Revolving
Facility Note,” “Revolving Facility Termination Date,” “Revolving Loan,” “Swing
Line Commitment,” “Total Credit Facility Amount,” “Total Revolving Commitment”
and “Unused Revolving Commitment” in their entirety as follows:

     

    “Aggregate Revolving Facility
Exposure” means, at any time, the sum of (i) the principal amounts of all
Revolving Loans outstanding at such time and (ii) the aggregate amount of the LC
Outstandings at such time.

     

    “Applicable Margin”
means:

     

    (a)           with
respect to Term Loans and Revolving A Loans:

     

    
      	
               
      

            	
              (i)

            	
              Initially,
      until changed hereunder in accordance with the following provisions, the
      Applicable Margin shall be (A) 0.0 basis points for Base Rate Loans, and
      (B) 150.0 basis points for Eurodollar
Loans;

            

    

     

    
      	
               
      

            	
              (ii)

            	
              Commencing
      with the fiscal quarter of the Borrowers ended on December 31, 2006,
      and continuing with each fiscal quarter thereafter, the Administrative
      Agent shall determine the Applicable Margin in accordance with the
      following matrix, based on the Leverage
Ratio:

            

    

     

    
      	
              Leverage
      Ratio

            	
              Applicable
      Margin for Base Rate Loans

            	
              Applicable
      Margin for Eurodollar Loans

            
	 
      	 
      	 
      
	
              Less
      than or equal to 1.50

            	
              0.0
      basis points

            	
              125.0
      basis points

            
	
              to
      1.00

            	 
      	 
      
	
              Greater
      than 1.50 to 1.00

            	
              0.0
      basis points

            	
              150.0
      basis points

            
	
              but
      less than or equal to

            	 
      	 
      
	
              2.50
      to 1.00

            	 
      	 
      
	
              Greater
      than 2.50 to 1.00

            	
              25.0
      basis points

            	
              200.0
      basis points

            

    

    

    (b)           With
respect to Revolving B Loans:

     

    
      	
               
      

            	
              (i)

            	
              Initially,
      until changed hereunder in accordance with the following provisions, the
      Applicable Margin shall be (A) 50.0 basis points for Base Rate Loans, and
      (B) 200.0 basis points for Eurodollar
Loans;

            

    

     

    
      	
               
      

            	
              (ii)

            	
              Commencing
      with the fiscal quarter of the Borrowers ended on June 30, 2008, and
      continuing with each fiscal quarter thereafter, the Administrative Agent
      shall

            

    

     

    

    
      
        
           

        

        
          4 

          
            

          

        

        
           

        

      

    

    

    determine
the Applicable Margin in accordance with the following matrix, based on the
Leverage Ratio:

     

    
      	
              Leverage
      Ratio

            	
              Applicable
      Margin for Base Rate Loans

            	
              Applicable
      Margin for Eurodollar Loans

            
	 
      	 
      	 
      
	
              Less
      than or equal to 1.50

            	
              25.0
      basis points

            	
              150.0
      basis points

            
	
              to
      1.00

            	 
      	 
      
	
              Greater
      than 1.50 to 1.00

            	
              50.0
      basis points

            	
              200.0
      basis points

            
	
              but
      less than or equal to

            	 
      	 
      
	
              2.50
      to 1.00

            	 
      	 
      
	
              Greater
      than 2.50 to 1.00

            	
              75.0
      basis points

            	
              250.0
      basis points

            

    

    

     

    (c)           Changes
in the Applicable Margin based upon changes in the Leverage Ratio shall become
effective on the first day of the month following each Financial Statement Due
Date based upon the Leverage Ratio in effect at the end of the applicable period
covered (in whole or in part) by the financial statements to be delivered by the
applicable Financial Statement Due Date.  Notwithstanding the
foregoing provisions, during any period when (A) the Borrower Representative has
failed to timely deliver the consolidated financial statements referred to in
Section 6.01(a) or (b), accompanied by the certificate and calculations referred
to in Section 6.01(c) or (B) a Default under Section 8.01(a) has occurred and is
continuing, the Applicable Margin shall be the highest rate per annum indicated
therefor in the above matrix, regardless of the Leverage Ratio at such
time.  Upon the remedy or cure of any such failure or Default, the
Applicable Margin shall be adjusted as of the date of such remedy or cure based
on the then applicable Leverage Ratio.  Any changes in the Applicable
Margin shall be determined by the Administrative Agent in accordance with the
provisions set forth in this definition and the Administrative Agent will
promptly provide notice of such determinations to the Borrower Representative
and the Lenders.  Any such determination by the Administrative Agent
shall be conclusive and binding absent manifest error.

     

    “Asset Coverage Ratio”
means at any time the ratio of (i) the sum of (A) Domestic Cash, (B) Domestic
Accounts Receivable and (C) Domestic Inventory to (ii) the Adjusted Aggregate
Revolving Facility Exposure.

     

    “Commitment” means
with respect to each Lender, (i) its Revolving A Commitment, (ii) its Revolving
B Commitment, or (iii) its Term Commitment, if any, or all of such
Commitments.

     

    “Consolidated Fixed
Charges” means, for any period, as determined on a consolidated basis and
in accordance with GAAP, without duplication, the aggregate of
(i) Consolidated Interest Expense, (ii) Consolidated Income Tax
Expense paid (excluding in the case of each of the four fiscal quarter periods
ending March 31, 2007, June 30, 2007 and September 30, 2007, the Adjusted
December Tax Payment), (iii) scheduled principal payments on Consolidated Funded
Indebtedness due in the twelve months preceding the measurement date (other than
optional prepayments of the Revolving Loans), (iv) reductions in the Revolving B
Commitment scheduled or required to be made during the twelve months preceding
the measurement date, (v) Capital Distributions made by ICO in respect of
its Equity Interests, (vi) Consolidated Capital Expenditures that are made
for the purpose of maintaining existing fixed assets and (vii) Rental
Expense.

     

    

    
      
        
           

        

        
          5 

          
            

          

        

        
           

        

      

    

    

    “Credit Facility”
means the credit facility established under this Agreement pursuant to which
(i) the Lenders shall make Revolving Loans to the Borrowers pursuant to the
Revolving A Commitment or Revolving B Commitment of each such Lender, and shall
participate in LC Issuances under the Revolving A Facility pursuant to the
Revolving A Commitment of each such Lender, (ii) each Lender with a Term
Commitment shall make a Term Loan to the Borrowers pursuant to the Term
Commitment of such Lender, (iii) the Swing Line Lender shall make Swing Loans to
the Borrowers under the Swing Line Facility pursuant to the Swing Line
Commitment, and (iv) each  LC Issuer shall issue Letters of Credit for
the account of the LC Obligors in accordance with the terms of this
Agreement.

     

    “Inventory” means, as
of any date, the net book value of the inventory of the Borrowers and their
Domestic Subsidiaries as reflected on the Borrowers’ most recent financial
statements.

     

    “Material Foreign
Indebtedness” means any Indebtedness of any Foreign Subsidiary or Foreign
Subsidiaries in excess of, individually or in the aggregate, a principal amount
of $7,500,000.

     

    “Material Indebtedness
Agreement” means any agreement governing or evidencing any Material
Domestic Indebtedness or Material Foreign Indebtedness.

     

    “Note” means a
Revolving A Note, a Revolving B Note, a Term Note or a Swing Line Note, as
applicable.

     

    “Permitted Foreign Subsidiary
Loans and Investments” means (i) loans and investments by a Loan Party to
or in a Foreign Subsidiary made on or after the Closing Date in the ordinary
course of business, provided that the aggregate amount of all Guaranty
Obligations of the Loan Parties in respect of the aggregate amount of
Indebtedness of all Foreign Subsidiaries shall not be increased beyond the
amount in existence on the Closing Date; and (ii) loans to a Foreign
Subsidiary by any Person other than a Borrower or any other
Subsidiary.

     

    “Revolving Borrowing”
means any Revolving A Borrowing or Revolving B Borrowing.

     

    “Revolving
Commitments” means the Revolving A Commitments and the Revolving B
Commitments.

     

    “Revolving Facility
Exposure” means for any Lender at any time the sum of such Lender’s
Revolving A Facility Exposure and its Revolving B Facility
Exposure.

     

    “Revolving Facility
Note” means a Revolving A Note or a Revolving B Note

     

    “Revolving Facility
Termination Date” means the earlier of (i) October 27, 2012, or
(ii) the date that the Commitments have been terminated pursuant to Section
8.02.

     

    “Revolving Loan” means
any Revolving A Loan or Revolving B Loan.

     

    “Swing Line
Commitment” means $2,500,000.

     

    “Total Credit Facility
Amount” means the aggregate of the Total Revolving Commitment and the
Total Term Loan Commitment.

     

    

    
      
        
           

        

        
           6

          
            

          

        

        
           

        

      

    

    

    “Total Revolving
Commitment” means the sum of the Total Revolving A Commitment and the
Total Revolving B Commitment.

     

    “Unused Revolving
Commitment” means, for any Lender at any time, the sum of (A) the excess
of (i) such Lender’s Revolving A Commitment at such time over (ii) such Lender’s
Revolving A Facility Exposure at such time and (B) the excess of (i) such
Lender’s Revolving B Commitment at such time over (ii) such Lender’s Revolving B
Facility Exposure at such time.

     

    5.           Amendment to Section
2.01.  Section 2.01 of the Credit Agreement is hereby amended
and restated in its entirety as follows:

     

    “Section
2.01 Establishment of
the Credit Facility.  Subject to and upon the terms and
conditions set forth in this Agreement and the other Loan Documents, the
Administrative Agent, the Lenders, the Swing Line Lender and each LC Issuer
agree to establish the Credit Facility for the benefit of the Borrower; provided, however, that at no time will
(i) the Aggregate Credit Facility Exposure exceed the Total Credit Facility
Amount, or (ii) the Credit Facility Exposure of any Lender exceed the aggregate
amount of such Lender’s Commitment.”

     

    6.           Amendment to Section
2.02.  Section 2.02 of the Credit Agreement is hereby amended
and restated in its entirety as follows:

     

    “Section 2.02

     

         (a)           Revolving A
Facility.  During the Revolving A Facility Availability Period,
each Lender severally agrees, on the terms and conditions set forth in this
Agreement, to make a Revolving A Loan or Revolving A Loans to the Borrowers from
time to time pursuant to such Lender’s Revolving A Commitment, which Revolving A
Loans (i) may, except as set forth herein, at the option of the Borrower
Representative, be incurred and maintained as, or Converted into, Revolving A
Loans that are Base Rate Loans or Eurodollar Loans, provided that all Revolving A
Loans made as part of the same Revolving A Borrowing shall consist of Revolving
A Loans of the same Type; (ii) may be repaid or prepaid and reborrowed in
accordance with the provisions hereof; and (iii) shall not be made if, after
giving effect to any such Revolving A Loan, (A) the Revolving A Facility
Exposure of any Lender would exceed such Lender’s Revolving A Commitment, (B)
the Aggregate Revolving A Facility Exposure plus the principal amount of
Swing Loans would exceed the Total Revolving A Commitment, or (C) the Borrowers
would be required to prepay Loans or cash collateralize Letters of Credit
pursuant to Section 2.13(c).  The Revolving A Loans to be made by each
Lender will be made by such Lender on a pro rata basis based upon
such Lender’s Revolving A Facility Percentage of each Revolving A Borrowing, in
each case in accordance with Section 2.07 hereof.

     

         (b)           Revolving B
Facility.  During the Revolving B Facility Availability Period,
each Lender severally agrees, on the terms and conditions set forth in this
Agreement, to make a Revolving B Loan or Revolving B Loans to the Borrowers
pursuant to such Lender’s Revolving B Commitment, which Revolving B Loans (i)
may, except as set forth herein, at the option of the Borrower Representative,
be incurred and maintained as, or Converted into, Revolving B Loans that are
Base Rate Loans or Eurodollar Loans, provided that all Revolving B
Loans made as part of the same Revolving B Borrowing shall consist of Revolving
B Loans of the same Type; (ii) may be repaid or prepaid in accordance with the
provisions hereof, but once repaid, may not be reborrowed; and (iii) shall not
be made if, after giving effect to any such Revolving B Loan, (A) the
Revolving B Facility Exposure of any Lender would exceed such Lender’s Revolving
B

     

    

    
      
        
           

        

        
          7

          
            

          

        

        
           

        

      

    

    

    Commitment,
or (B) the Borrowers would be required to prepay Loans or cash collateralize
Letters of Credit pursuant to Section 2.13(c).  The Revolving B Loans
to be made by each Lender will be made by such Lender on a pro rata basis based upon
such Lender’s Revolving B Facility Percentage of each Revolving B Borrowing, in
each case in accordance with Section 2.07 hereof.”

     

    7.           Amendment to Section
2.04.  Section 2.04 of the Credit Agreement is hereby amended
and restated in its entirety as follows:

     

    “Section
2.04                                Swing Line
Facility.

     

       
(a)           Swing
Loans.  During the Revolving A Facility Availability Period,
the Swing Line Lender agrees, on the terms and conditions set forth in this
Agreement and the Sweep Documentation, to make a Swing Loan or Swing Loans to
the Borrowers from time to time, which Swing Loans:  (i) shall be
payable on the Swing Loan Maturity Date applicable to each such Swing Loan;
(ii) shall be made only in U.S. Dollars; (iii) may be repaid or
prepaid and reborrowed in accordance with the provisions hereof; (iv) may
only be made if after giving effect thereto (A) the aggregate principal amount
of Swing Loans outstanding does not exceed the Swing Line Commitment, and
(B) the Aggregate Revolving A Facility Exposure plus the principal
amount of Swing Loans would not exceed the Total Revolving A Commitment;
(v) shall not be made if, after giving effect thereto, the Borrowers would
be required to prepay Loans or cash collateralize Letters of Credit pursuant to
Section 2.13(c) hereof; and (vi) shall not be made if the proceeds thereof
would be used to repay, in whole or in part, any outstanding Swing
Loan.  To the extent the terms of this Agreement and the Sweep
Documentation conflict, the terms of this Agreement shall control.

     

          
(b)           Swing Loan
Refunding.  The Swing Line Lender may at any time, in its sole
and absolute discretion, direct that the Swing Loans owing to it be refunded by
delivering a notice to such effect to the Administrative Agent, specifying the
aggregate principal amount thereof (a “Notice of Swing Loan
Refunding”).  Promptly upon receipt of a Notice of Swing Loan
Refunding, the Administrative Agent shall give notice of the contents thereof to
the Lenders with Revolving A Commitments and, unless an Event of Default
specified in Section 8.01(h) in respect of the Borrowers have occurred, the
Borrower Representative.  Each such Notice of Swing Loan Refunding
shall be deemed to constitute delivery by the Borrower Representative of a
Notice of Borrowing requesting Revolving A Loans consisting of Base Rate Loans
in the amount of the Swing Loans to which it relates.  Each Lender
with a Revolving A Commitment (including the Swing Line Lender) hereby
unconditionally agrees (notwithstanding that any of the conditions specified in
Section 4.02 or elsewhere in this Agreement shall not have been satisfied, but
subject to the provisions of paragraph (d) below) to make a Revolving A Loan to
the Borrowers in the amount of such Lender’s Revolving A Facility Percentage of
the aggregate amount of the Swing Loans to which such Notice of Swing Loan
Refunding relates.  Each such Lender shall make the amount of such
Revolving A Loan available to the Administrative Agent in immediately available
funds at the Payment Office not later than 2:00 P.M. (local time at the Payment
Office), if such notice is received by such Lender prior to 11:00 A.M. (local
time at its domestic lending office), or not later than 2:00 P.M. (local time at
the Payment Office) on the next Business Day, if such notice is received by such
Lender after such time.  The proceeds of such Revolving A Loans shall
be made immediately available to the Swing Line Lender and applied by it to
repay the principal amount of the Swing Loans to which such Notice of Swing Loan
Refunding relates.

     

          
(c)           Swing Loan
Participation.  If prior to the time a Revolving A Loan would
otherwise have been made as provided above as a consequence of a Notice of Swing
Loan

     

    

    
      
        
           

        

        
          8 

          
            

          

        

        
           

        

      

    

    

    Refunding,
any of the events specified in Section 8.01(h) shall have occurred in respect of
the Borrowers or one or more of the Lenders with Revolving A Commitments shall
determine that it is legally prohibited from making a Revolving A Loan under
such circumstances, each Lender (other than the Swing Line Lender), or each
Lender (other than such Swing Line Lender) so prohibited, as the case may be,
shall, on the date such Revolving A Loan would have been made by it (the “Purchase Date”),
purchase an undivided participating interest (a “Swing Loan
Participation”) in the outstanding Swing Loans to which such Notice of
Swing Loan Refunding relates, in an amount (the “Swing Loan Participation
Amount”) equal to such Lender’s Revolving A Facility Percentage of such
outstanding Swing Loans.  On the Purchase Date, each such Lender or
each such Lender so prohibited, as the case may be, shall pay to the Swing Line
Lender, in immediately available funds, such Lender’s Swing Loan Participation
Amount, and promptly upon receipt thereof the Swing Line Lender shall, if
requested by such other Lender, deliver to such Lender a participation
certificate, dated the date of the Swing Line Lender’s receipt of the funds
from, and evidencing such Lender’s Swing Loan Participation in, such Swing Loans
and its Swing Loan Participation Amount in respect thereof.  If any
amount required to be paid by a Lender to the Swing Line Lender pursuant to the
above provisions in respect of any Swing Loan Participation is not paid on the
date such payment is due, such Lender shall pay to the Swing Line Lender on
demand interest on the amount not so paid at the overnight Federal Funds
Effective Rate from the due date until such amount is paid in
full.  Whenever, at any time after the Swing Line Lender has received
from any other Lender such Lender’s Swing Loan Participation Amount, the Swing
Line Lender receives any payment from or on behalf of the Borrowers on account
of the related Swing Loans, the Swing Line Lender will promptly distribute to
such Lender its ratable share of such amount based on its Revolving A Facility
Percentage of such amount on such date on account of its Swing Loan
Participation (appropriately adjusted, in the case of interest payments, to
reflect the period of time during which such Lender’s participating interest was
outstanding and funded); provided, however, that if
such payment received by the Swing Line Lender is required to be returned, such
Lender will return to the Swing Line Lender any portion thereof previously
distributed to it by the Swing Line Lender.

     

    (d)           Obligations
Unconditional.  Each Lender’s obligation to make Revolving A
Loans pursuant to Section 2.04(b) and/or to purchase Swing Loan Participations
in connection with a Notice of Swing Loan Refunding shall be subject to the
conditions that (i) such Lender shall have received a Notice of Swing Loan
Refunding complying with the provisions hereof and (ii) at the time the
Swing Loans that are the subject of such Notice of Swing Loan Refunding were
made, the Swing Line Lender making the same had no actual written notice from
another Lender that an Event of Default had occurred and was continuing, but
otherwise shall be absolute and unconditional, shall be solely for the benefit
of the Swing Line Lender that gives such Notice of Swing Loan Refunding, and
shall not be affected by any circumstance, including, without limitation,
(A) any set-off, counterclaim, recoupment, defense or other right that such
Lender may have against any other Lender, any Loan Party, or any other Person,
or any Loan Party may have against any Lender or other Person, as the case may
be, for any reason whatsoever, (B) the occurrence or continuance of a
Default or Event of Default, (C) any event or circumstance involving a Material
Adverse Effect, (D) any breach of any Loan Document by any party thereto,
or (E) any other circumstance, happening or event, whether or not similar
to any of the foregoing.”

     

    8.           Amendment to Section
2.05.  Section 2.05 of the Credit Agreement is hereby amended
and restated in its entirety as follows:

     

    “Section 2.05 Letters of
Credit.

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    (a)    LC
Issuances.  During the Revolving A Facility Availability
Period, the Borrower Representative may request an LC Issuer at any time and
from time to time to issue, for the account of any Borrower or any Subsidiary
Guarantor, and subject to and upon the terms and conditions herein set forth,
each LC Issuer agrees to issue from time to time Letters of Credit denominated
and payable in Dollars and in each case in such form as may be approved by such
LC Issuer and the Administrative Agent; provided, however, that notwithstanding
the foregoing, no LC Issuance shall be made if, after giving effect thereto, (i)
the LC Outstandings would exceed the LC Commitment Amount, (ii) the Revolving A
Facility Exposure of any Lender would exceed such Lender’s Revolving A
Commitment, (iii) the Aggregate Revolving A Facility Exposure plus the principal
amount of Swing Loans outstanding would exceed the Total Revolving A Commitment,
or (iv) the Borrowers would be required to prepay Loans or cash collateralize
Letters of Credit pursuant to Section 2.13(c) hereof.  Subject to
Section 2.05(c) below, each Letter of Credit shall have an expiry date
(including any renewal periods) occurring not later than the earlier of (y) one
year from the date of issuance thereof, or (z) 30 Business Days prior to the
Revolving Facility Termination Date.

     

    (b)           LC
Requests.  Whenever the Borrowers desire that a Letter of
Credit be issued for its account or the account of any eligible LC Obligor, the
Borrower Representative shall give the Administrative Agent and the applicable
LC Issuer written or telephonic notice (in the case of telephonic notice,
promptly confirmed in writing if so requested by the Administrative Agent)
which, if in the form of written notice, shall be substantially in the form of
Exhibit B-3
(each such request, a “LC Request”), or
transmit by electronic communication (if arrangements for doing so have been
approved by the applicable LC Issuer), prior to 11:00 A.M. (local time at the
Notice Office) at least three Business Days (or such shorter period as may be
acceptable to the relevant LC Issuer) prior to the proposed date of issuance
(which shall be a Business Day), which LC Request shall include such supporting
documents that such LC Issuer customarily requires in connection therewith
(including, in the case of a Letter of Credit for an account party other than a
Borrower, an application for, and if applicable a reimbursement agreement with
respect to, such Letter of Credit).  In the event of any inconsistency
between any of the terms or provisions of any LC Document and the terms and
provisions of this Agreement respecting Letters of Credit, the terms and
provisions of this Agreement shall control.

     

    (c)           Auto-Renewal Letters of
Credit.  If an LC Obligor so requests in any applicable LC
Request, each LC Issuer shall agree to issue a Letter of Credit that has
automatic renewal provisions; provided, however, that any Letter of
Credit that has automatic renewal provisions must permit such LC Issuer to
prevent any such renewal at least once in each twelve-month period (commencing
with the date of issuance of such Letter of Credit) by giving prior notice to
the beneficiary thereof not later than a day in each such twelve-month period to
be agreed upon at the time such Letter of Credit is issued.  Once any
such Letter of Credit that has automatic renewal provisions has been issued, the
Lenders shall be deemed to have authorized (but may not require) such LC Issuer
to permit the renewal of such Letter of Credit at any time to an expiry date not
later than 30 Business Days prior to the Revolving Facility Termination Date;
provided, however, that such LC Issuer
shall not permit any such renewal if (i) such LC Issuer has determined that it
would have no obligation at such time to issue such Letter of Credit in its
renewed form under the terms hereof, or (ii) it has received notice (which may
be by telephone or in writing) on or before the day that is two Business Days
before the date that such LC Issuer is permitted to send a notice of non-renewal
from the Administrative Agent, any Lender or the Borrower Representative that
one or more of the applicable conditions specified in Section 4.02 is not then
satisfied.

     

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    (d)    Applicability of ISP98 and
UCP.  Unless otherwise expressly agreed by the applicable LC
Issuer and the applicable LC Obligor, when a Letter of Credit is issued, (i) the
rules of the “International Standby Practices 1998” published by the Institute
of International Banking Law & Practice (or such later version thereof as
may be in effect at the time of issuance) shall apply to each Standby Letter of
Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary
Credits, as most recently published by the International Chamber of Commerce at
the time of issuance (including the International Chamber of Commerce’s decision
published by the Commission on Banking Technique and Practice on April 6, 1998
regarding the European single currency (euro)) shall apply to each Commercial
Letter of Credit.

     

    (e)           Notice of LC
Issuance.  Each LC Issuer shall, on the date of each LC
Issuance by it, give the Administrative Agent, each applicable Lender and the
Borrower Representative written notice of such LC Issuance, accompanied by a
copy to the Administrative Agent of the Letter of Credit or Letters of Credit
issued by it.  Each LC Issuer shall provide to the Administrative
Agent a quarterly (or monthly if requested by any applicable Lender) summary
describing each Letter of Credit issued by such LC Issuer and then outstanding
and an identification for the relevant period of the daily aggregate LC
Outstandings represented by Letters of Credit issued by such LC
Issuer.

     

    (f)           Reimbursement
Obligations.

     

    (i)           The
Borrowers hereby agree to reimburse (or cause any LC Obligor for whose account a
Letter of Credit was issued to reimburse) each LC Issuer, by making payment
directly to such LC Issuer in immediately available funds at the payment office
of such LC Issuer, for any Unpaid Drawing with respect to any Letter of Credit
immediately after, and in any event on the date on which, such LC Issuer
notifies the Borrower Representative (or any such other LC Obligor for whose
account such Letter of Credit was issued) of such payment or disbursement (which
notice to the Borrower Representative (or such other LC Obligor) shall be
delivered reasonably promptly after any such payment or disbursement), such
payment to be made in Dollars, with interest on the amount so paid or disbursed
by such LC Issuer, to the extent not reimbursed prior to 1:00 P.M. (local time
at the payment office of the applicable LC Issuer) on the date of such payment
or disbursement, from and including the date paid or disbursed to but not
including the date such LC Issuer is reimbursed therefor at a rate per annum
that shall be the rate then applicable to Revolving A Loans pursuant to Section
2.09(a)(i) that are Base Rate Loans or, if not reimbursed on the date of such
payment or disbursement, at the Default Rate, any such interest also to be
payable on demand.  If by 11:00 A.M. on the Business Day immediately
following notice to it of its obligation to make reimbursement in respect of an
Unpaid Drawing, the Borrower Representative or the relevant LC Obligor has not
made such reimbursement out of its available cash on hand or, in the case of a
Borrower, a contemporaneous Borrowing of Revolving A Loans hereunder (if such
Borrowing is otherwise available to the Borrowers), (x) the Borrower
Representative will in each case be deemed to have given a Notice of Borrowing
for Revolving A Loans that are Base Rate Loans in an aggregate principal amount
sufficient to reimburse such Unpaid Drawing (and the Administrative Agent shall
promptly give notice to the Lenders of such deemed Notice of Borrowing), (y) the
Lenders shall, unless they are legally prohibited from doing so, make the
Revolving A Loans contemplated by such deemed Notice of Borrowing (which
Revolving A Loans shall be considered made under Section 2.02(a)), and (z) the
proceeds of such Revolving A Loans shall be disbursed directly to the applicable
LC Issuer to the extent necessary to effect such reimbursement and repayment of
the Unpaid Drawing, with any excess proceeds to be made available to the
Borrowers in accordance with the applicable provisions of this
Agreement.

     

    

    
      
        
           

        

        
          11 

          
            

          

        

        
           

        

      

    

    

    (ii)           Obligations
Absolute.  Each LC Obligor’s obligation under this Section to
reimburse each LC Issuer with respect to Unpaid Drawings (including, in each
case, interest thereon) shall be absolute and unconditional under any and all
circumstances and irrespective of any setoff, counterclaim or defense to payment
that such LC Obligor may have or have had against such LC Issuer, the
Administrative Agent or any Lender, including, without limitation, any defense
based upon the failure of any drawing under a Letter of Credit to conform to the
terms of the Letter of Credit or any non-application or misapplication by the
beneficiary of the proceeds of such drawing; provided, however, that no LC Obligor
shall be obligated to reimburse an LC Issuer for any wrongful payment made by
such LC Issuer under a Letter of Credit as a result of acts or omissions
constituting willful misconduct or gross negligence on the part of such LC
Issuer.

     

    (g)           LC
Participations.

     

    (i)           Immediately
upon each LC Issuance, the LC Issuer of such Letter of Credit shall be deemed to
have sold and transferred to each Lender with a Revolving A Commitment, and each
such Lender (each an “LC Participant”)
shall be deemed irrevocably and unconditionally to have purchased and received
from such LC Issuer, without recourse or warranty, an undivided interest and
participation (an “LC
Participation”), to the extent of such Lender’s Revolving A Facility
Percentage of the Stated Amount of such Letter of Credit in effect at such time
of issuance, in such Letter of Credit, each substitute Letter of Credit, each
drawing made thereunder, the obligations of any LC Obligor under this Agreement
with respect thereto (although LC Fees relating thereto shall be payable
directly to the Administrative Agent for the account of the Lenders as provided
in Section 2.11 and the LC Participants shall have no right to receive any
portion of any fees of the nature contemplated by Section 2.11(c) or Section
2.11(e)), the obligations of any LC Obligor under any LC Documents pertaining
thereto, and any security for, or guaranty pertaining to, any of the
foregoing.

     

    (ii)           In
determining whether to pay under any Letter of Credit, an LC Issuer shall not
have any obligation relative to the LC Participants other than to determine that
any documents required to be delivered under such Letter of Credit have been
delivered and that they appear to comply on their face with the requirements of
such Letter of Credit.  Any action taken or omitted to be taken by an
LC Issuer under or in connection with any Letter of Credit, if taken or omitted
in the absence of gross negligence or willful misconduct, shall not create for
such LC Issuer any resulting liability.

     

    (iii)           If
an LC Issuer makes any payment under any Letter of Credit and the applicable LC
Obligor shall not have reimbursed such amount in full to such LC Issuer pursuant
to Section 2.05(f), such LC Issuer shall promptly notify the Administrative
Agent, and the Administrative Agent shall promptly notify each LC Participant of
such failure, and each LC Participant shall promptly and unconditionally pay to
the Administrative Agent for the account of such LC Issuer, the amount of such
LC Participant’s Revolving A Facility Percentage of such payment in Dollars and
in same-day funds; provided, however, that no LC
Participant shall be obligated to pay to the Administrative Agent its Revolving
A Facility Percentage of such unreimbursed amount for any wrongful payment made
by such LC Issuer under a Letter of Credit as a result of acts or omissions
constituting willful misconduct or gross negligence on the part of such LC
Issuer.  If the Administrative Agent so notifies any LC Participant
required to fund a payment under a Letter of Credit prior to 11:00 A.M. (local
time at its Notice Office) on any Business Day, such LC Participant shall make
available to the Administrative Agent for the account of the relevant LC Issuer
such LC Participant’s Revolving A Facility Percentage of the amount of such
payment on such Business Day in same-day funds.  If and to the extent
such LC Participant shall not have

     

    

    
      
        
           

        

        
          12 

          
            

          

        

        
           

        

      

    

    

    so made
its Revolving A Facility Percentage of the amount of such payment available to
the Administrative Agent for the account of the relevant LC Issuer, such LC
Participant agrees to pay to the Administrative Agent for the account of such LC
Issuer, forthwith on demand, such amount, together with interest thereon, for
each day from such date until the date such amount is paid to the Administrative
Agent for the account of such LC Issuer at the Federal Funds Effective
Rate.  The failure of any LC Participant to make available to the
Administrative Agent for the account of the relevant LC Issuer its Revolving A
Facility Percentage of any payment under any Letter of Credit shall not relieve
any other LC Participant of its obligation hereunder to make available to the
Administrative Agent for the account of such LC Issuer its Revolving A Facility
Percentage of any payment under any Letter of Credit on the date required, as
specified above, but no LC Participant shall be responsible for the failure of
any other LC Participant to make available to the Administrative Agent for the
account of such LC Issuer such other LC Participant’s Revolving A Facility
Percentage of any such payment.

     

    (iv)           Whenever
an LC Issuer receives a payment of a reimbursement obligation as to which the
Administrative Agent has received for the account of such LC Issuer any payments
from the LC Participants pursuant to subpart (iii) above, such LC Issuer shall
pay to the Administrative Agent and the Administrative Agent shall promptly pay
to each LC Participant that has paid its Revolving A Facility Percentage
thereof, in same-day funds, an amount equal to such LC Participant’s Revolving A
Facility Percentage of the principal amount thereof and interest thereon
accruing after the purchase of the respective LC Participations, as and to the
extent so received.

     

    (v)           The
obligations of the LC Participants to make payments to the Administrative Agent
for the account of each LC Issuer with respect to Letters of Credit shall be
irrevocable and not subject to counterclaim, set-off or other defense or any
other qualification or exception whatsoever and shall be made in accordance with
the terms and conditions of this Agreement under all circumstances, including,
without limitation, any of the following circumstances:

     

    (A)           any
lack of validity or enforceability of this Agreement or any of the other Loan
Documents;

     

    (B)           the
existence of any claim, set-off defense or other right that any LC Obligor may
have at any time against a beneficiary named in a Letter of Credit, any
transferee of any Letter of Credit (or any Person for whom any such transferee
may be acting), the Administrative Agent, any LC Issuer, any Lender, or other
Person, whether in connection with this Agreement, any Letter of Credit, the
transactions contemplated herein or any unrelated transactions (including any
underlying transaction between the applicable LC Obligor and the beneficiary
named in any such Letter of Credit), other than any claim that the applicable LC
Obligor may have against any applicable LC Issuer for gross negligence or
willful misconduct of such LC Issuer in making payment under any applicable
Letter of Credit;

     

    (C)           any
draft, certificate or other document presented under the Letter of Credit
proving to be forged, fraudulent, invalid or insufficient in any respect or any
statement therein being untrue or inaccurate in any respect;

     

    (D)           the
surrender or impairment of any security for the performance or observance of any
of the terms of any of the Loan Documents; or

     

    (E)           the
occurrence of any Default or Event of Default.

     

    

    
      
        
           

        

        
          13 

          
            

          

        

        
           

        

      

    

     

     

    (vi)    To the
extent any LC Issuer is not indemnified by the Borrowers or any LC Obligor, the
LC Participants will reimburse and indemnify such LC Issuer, in proportion to
their respective Revolving A Facility Percentages, for and against any and all
liabilities, obligations, losses, damages, penalties, claims, actions,
judgments, costs, expenses or disbursements of whatsoever kind or nature that
may be imposed on, asserted against or incurred by such LC Issuer in performing
its respective duties in any way related to or arising out of LC Issuances by
it; provided, however,
that no LC Participants shall be liable for any portion of such
liabilities, obligations, losses, damages, penalties, claims, actions,
judgments, costs, expenses or disbursements resulting from such LC Issuer’s
gross negligence or willful misconduct.”

     

    
      9.     Amendment to Section
2.06.  Section 2.06(d) of the Credit Agreement is hereby
amended and restated in its entirety as follows:

       

    

        
“(d)           Maximum
Borrowings.  More than one Borrowing may be incurred by the
Borrowers on any day; provided, however, that (i)
if there are two or more Borrowings on a single day (other than with respect to
a Term Borrowing made on the Closing Date) by the Borrowers that consist of
Eurodollar Loans, each such Borrowing shall have a different initial Interest
Period, and (ii) at no time shall there be more than eight Borrowings of
Eurodollar Loans outstanding hereunder.”

     

    
      10.   Amendment to Section
2.07(b).  Section 2.07(b) of the Credit Agreement is hereby
amended and restated in its entirety as follows:

       

    

          “(b)           Borrowings Pro
Rata.  Except with respect to the making of Swing Loans by the
Swing Line Lender, all Loans hereunder shall be made as follows:  (i)
all Revolving A Loans made, and LC Participations acquired by each Lender, shall
be made or acquired, as the case may be, on a pro rata basis based upon
each Lender’s Revolving A Facility Percentage of the amount of any Revolving A
Borrowing or Letter of Credit in effect on the date the applicable Revolving A
Borrowing is to be made or the Letter of Credit is to be issued, (ii) all
Revolving B Loans shall be made on a pro rata basis based upon
each Lender’s Revolving B Facility Percentage of the amount of such Revolving B
Borrowing, and (iii) all Term Loans shall be made by the Lenders having Term
Commitments pro rata on
the basis of their respective Term Commitments.”

     

    
      11.   Amendment to Section
2.07(d)(i).  Section 2.07(d)(i) of the Credit Agreement is
hereby amended and restated in its entirety as follows:

    

     

         
“(i)           Loans
Generally.  No later than 2:00 P.M. (local time at the
Payment Office) on the date specified in each Notice of Borrowing, each Lender
will make available its amount, if any, of each Borrowing requested to be made
on such date to the Administrative Agent at the Payment Office in Dollars and in
immediately available funds and the Administrative Agent promptly will make
available to the Borrowers by depositing to the applicable account at the
Payment Office (or such other account as the Borrower Representative shall
specify) the aggregate of the amounts so made available in the type of funds
received.”

     

    
      12.         
Amendment to Section
2.08(b).  Section 2.08(b) of the Credit Agreement is hereby
amended and restated in its entirety as follows:

       

      “(b)           Loan Accounts of
Administrative Agent and Swing Line Lender; Lender
Register.  Except with respect to Swing Loans, the
Administrative Agent shall maintain accounts in which it shall record (i) the
amount of each Loan and Borrowing made hereunder, the Type

    

     

    

    
      
        
           

        

        
          14 

          
            

          

        

        
           

        

      

    

    

    thereof,
the Interest Period and applicable interest rate, (ii) the amount and other
details with respect to each Letter of Credit issued hereunder, (iii) the amount
of any principal due and payable or to become due and payable from the Borrowers
to each Lender hereunder, (iv) the amount of any sum received by the
Administrative Agent hereunder for the account of the Lenders and each Lender’s
share thereof, and (v) the other details relating to the Loans, Letters of
Credit and other Obligations.  In addition, the Administrative Agent
shall maintain a register (the “Lender Register”) on
or in which it will record the names and addresses of the Lenders, and the
Commitments from time to time of each of the Lenders.  The
Administrative Agent will make the Lender Register available to any Lender or
the Borrowers upon request.  The Swing Line Lender shall maintain
accounts in which it shall record the amount of each Swing Loan made hereunder
and the applicable interest rate.”

     

    13.    Amendment to Section
2.11(b)(i).  Section 2.11(b)(i) of the Credit Agreement is
hereby amended and restated in its entirety as follows:

     

    “(i)           The
Borrowers agree to pay to the Administrative Agent, for the ratable benefit of
each Lender based upon each such Lender’s Revolving A Facility Percentage, as
consideration for the Revolving A Commitments of the Lenders, commitment fees
(the “Commitment
Fees”) for the period from the Closing Date to, but not including, the
Revolving Facility Termination Date, computed for each day at a rate per annum
equal to (i) 37.5 basis points times (ii) the Unused
Total Revolving A Commitment in effect on such day.  Accrued
Commitment Fees shall be due and payable in arrears on the last Business Day of
each March, June, September and December and on the Revolving Facility
Termination Date.”

     

    14.   Amendment to Section
2.11(c).  Section 2.11(c) of the Credit Agreement is hereby
amended and restated in its entirety as follows:

     

    “(c)           LC Fees.

     

    (i)           Standby Letters of
Credit.  The Borrowers agree to pay to the Administrative
Agent, for the ratable benefit of each Lender with a Revolving A Commitment
based upon each such Lender’s Revolving A Facility Percentage, a fee in respect
of each Letter of Credit issued hereunder that is a Standby Letter of Credit for
the period from the date of issuance of such Letter of Credit until the
expiration date thereof (including any extensions of such expiration date that
may be made at the election of the account party or the beneficiary), computed
for each day at a rate per annum equal to (A) the Applicable Margin for
Revolving A Loans that are Eurodollar Loans in effect on such day times (B) the Stated
Amount of such Letter of Credit on such day.  The foregoing fees shall
be payable quarterly in arrears on the last Business Day of each March, June,
September and December and on the Revolving Facility Termination
Date.

     

    (ii)           Commercial Letters of
Credit.  The Borrowers agree to pay to the Administrative Agent
for the ratable benefit of each Lender based upon each such Lender’s Revolving A
Facility Percentage, a fee in respect of each Letter of Credit issued hereunder
that is a Commercial Letter of Credit in an amount equal to (A) the Applicable
Margin for Revolving A Loans that are Eurodollar Loans in effect on the date of
issuance times
(B) the Stated Amount of such Letter of Credit.  The foregoing fees
shall be payable on the date of issuance of such Letter of Credit.”

     

    
      15.    Amendment to Section
2.12.  Section 2.12 of the Credit Agreement is hereby amended
and restated in its entirety as follows:

    

     

    “Section
2.12      Termination and Reduction of
Revolving Commitments.

     

    

    
      
        
           

        

        
          15 

          
            

          

        

        
           

        

      

    

    

    (a)           Mandatory Termination of
Revolving Commitments.  All of the Revolving Commitments shall
terminate on the Revolving Facility Termination Date.

     

    (b)           Voluntary Termination of the
Total Revolving A Commitment or Total Revolving B
Commitment.  Upon at least three Business Days’ prior
irrevocable written notice (or telephonic notice confirmed in writing) to the
Administrative Agent at its Notice Office (which notice the Administrative Agent
shall promptly transmit to each of the Lenders), the Borrowers shall have the
right to terminate in whole the Total Revolving A Commitment or the Total
Revolving B Commitment, provided that (i) all
outstanding Revolving Loans and Unpaid Drawings under the applicable facility
are contemporaneously prepaid in accordance with Section 2.13 and (ii) in the
case of a termination of the Total Revolving A Commitment, either there are no
outstanding Letters of Credit or the Borrowers shall contemporaneously cause all
outstanding Letters of Credit to be surrendered for cancellation (any such
Letters of Credit to be replaced by letters of credit issued by other financial
institutions reasonably acceptable to each LC Issuer and the Revolving
Lenders).

     

    (c)           Partial Reduction of Total
Revolving A Commitment or Total Revolving B Commitment.  Upon
at least three Business Days’ prior irrevocable written notice (or telephonic
notice confirmed in writing) to the Administrative Agent at its Notice Office
(which notice the Administrative Agent shall promptly transmit to each of the
Lenders), the Borrowers shall have the right to partially and permanently reduce
the Unused Total Revolving A Commitment or the Unused Total Revolving B
Commitment; provided,
however, that (i) any such reduction shall apply to proportionately
(based on each Lender’s Revolving A Facility Percentage or Revolving B Facility
Percentage, as applicable) and permanently reduce the Revolving A Commitment or
Revolving B Commitment, as applicable, of each Lender, (ii) in the case of a
reduction of the Revolving A Commitment, such reduction shall apply to
proportionately and permanently reduce the LC Commitment Amount, but only to the
extent that the Unused Total Revolving A Commitment would be reduced below any
such limits, (iii) no such reduction shall be permitted if the Borrowers would
be required to make a mandatory prepayment of Loans or cash collateralize
Letters of Credit pursuant to Section 2.13, and (iv) any partial reduction shall
be in the amount of at least $5,000,000 (or, if greater, in integral multiples
of $1,000,000) in the case of the Revolving A Commitment and $1,000,000 in the
case of the Revolving B Commitment.

     

    (d)           Mandatory Reduction of Total
Revolving B Commitments.  The Total Revolving B Commitment will
be automatically and permanently reduced on the last day of each fiscal quarter,
beginning on June 30, 2008, by an amount equal to $277,778 (or, with respect to
the last fiscal quarter for which a reduction is scheduled,
$277,774).  Each Lender’s Revolving B Commitment will be reduced on a
pro rata basis equal to
such Lender’s Revolving B Facility Percentage of the amount of such
reduction.  Concurrently with any reduction in the Revolving B
Commitment, the Borrowers shall make any mandatory prepayments of Loans required
by Section 2.13.”

     

    16.           Amendment to Section
2.13(c)(ii).  Section 2.13(c)(ii) of the Credit Agreement is
hereby amended and restated in its entirety as follows:

     

    “(ii)           Loans Exceed the
Commitments.  If on any date (after giving effect to any other
payments on such date) (A) the Aggregate Credit Facility Exposure exceeds the
Total Credit Facility Amount, (B) the Revolving A Facility Exposure of any
Lender exceeds such Lender’s Revolving A Commitment or the Revolving B Facility
Exposure of any Lender exceeds such Lender’s Revolving B Commitment, (C) the
Aggregate Revolving Facility Exposure plus the principal
amount of Swing Loans exceeds the Total Revolving Commitment, or (D) the
aggregate

     

    

    
      
        
           

        

        
          16 

          
            

          

        

        
           

        

      

    

    

    principal
amount of Swing Loans outstanding exceeds the Swing Line Commitment, then, in the case of each of
the foregoing, the Borrowers shall, on such day, prepay on such date the
principal amount of Loans and, after Loans have been paid in full, Unpaid
Drawings, in an aggregate amount at least equal to such excess.”

     

    17.           Amendment to Section
2.14(b).  Section 2.14(b) of the Credit Agreement is hereby
amended and restated in its entirety as follows:

     

    “(b)           Application of
Payments.  Except as specifically set forth elsewhere in this
Agreement and subject to Section 8.03, (i) all payments and prepayments of
Revolving Loans and Unpaid Drawings with respect to Letters of Credit shall be
applied by the Administrative Agent on a pro rata basis based upon
each Lender’s Revolving A Facility Percentage or Revolving B Facility
Percentage, as applicable, of the amount of such prepayment, (ii) all payments
and prepayments of Term Loans shall be applied by the Administrative Agent to
reduce the principal amount of the Term Loans made by each Lender with a Term
Commitment, pro rata on
the basis of their respective Term Commitments, and (iii) all payments or
prepayments of Swing Loans shall be applied by the Swing Line Lender to pay or
prepay such Swing Loans.”

     

    18.           Conditions
Precedent.  The amendment set forth above shall become
effective upon the satisfaction of the following conditions
precedent:

     

    (a)           this
Amendment has been executed by each Borrower, the Administrative Agent and the
Lenders, and counterparts hereof as so executed shall have been delivered to the
Administrative Agent;

     

    (b)           the
Revolving A Notes and Revolving B Notes shall have been executed by the
Borrowers and shall have been delivered to the Administrative
Agent;

     

    (c)           the
Administrative Agent shall have received an opinion of counsel from counsel to
the Borrowers which shall be in form and substance satisfactory to the
Administrative Agent;

     

    (d)           the
Administrative Agent shall have received certified copies of the resolutions of
the Board of Directors of each Loan Party approving this Amendment and the other
Loan Documents to be executed in connection herewith;

     

    (e)           the
Administrative Agent shall have received a certificate of the Secretary or an
Assistant Secretary of each Loan Party, certifying the names and true signatures
of the officers of such Loan Party authorized to sign this Amendment or
Subsidiary Guarantor Acknowledgment and Agreement, as applicable, and the other
Loan Documents to be executed in connection herewith;

     

    (f)           The
Administrative Agent shall have received:  (A) an original certified
copy of the Certificate or Articles of Incorporation or equivalent formation
document of each Loan Party and any and all amendments and restatements thereof,
certified as of a recent date by the relevant Secretary of State or a
certificate of the Secretary or an Assistant Secretary of each Loan Party
certifying that the Certificate or Articles of Incorporation or equivalent
formation document of such Loan Party have not been amended, restated or
otherwise modified since the Closing Date; (B) an original good standing
certificate from the Secretary of State of the state of incorporation, dated as
of a recent date, listing all charter documents affecting such Loan Party and
certifying as to the good standing of such Loan Party; and (C) certified copies
of the by-laws, partnership agreement or similar governing document of each Loan
Party or a certificate of the Secretary or

     

    

    
      
        
           

        

        
          17 

          
            

          

        

        
           

        

      

    

    

    an
Assistant Secretary of each Loan Party certifying that the by-laws, partnership
agreement or similar governing document of such Loan Party have not been
amended, restated or otherwise modified since the Closing Date;

     

    (g)           the
Borrowers have paid all reasonable out-of-pocket fees and expenses of the
Administrative Agent and of special counsel to the Administrative Agent that
have been invoiced on or prior to such date in connection with the preparation,
negotiation, execution and delivery of this Amendment;

     

    (h)           all
representations and warranties of the Loan Parties contained in the Credit
Agreement or in the other Loan Documents shall be true and correct in all
material respects with the same effect as though such representations and
warranties had been made on and as of the date of this Amendment, except to the
extent that such representations and warranties expressly relate to an earlier
specified date, in which case such representations and warranties shall have
been true and correct in all material respects as of the date when made;
and

     

    (i)           each
Subsidiary Guarantor has executed and delivered to the Administrative Agent the
Subsidiary Guarantor Acknowledgment and Agreement attached hereto.

     

    19.           Representations and
Warranties.  Each Borrower hereby represents and warrants to
the Administrative Agent and the Lenders that:  (a) such Borrower has
the legal power and authority to execute and deliver this Amendment; (b) the
officials executing this Amendment have been duly authorized to execute and
deliver the same and bind such Borrower with respect to the provisions hereof;
(c) the execution and delivery hereof by such Borrower and the performance
and observance by such Borrower of the provisions hereof do not violate or
conflict with the organizational documents of such Borrower or any law
applicable to such Borrower; (d) no Default or Event of Default exists under the
Credit Agreement, nor will any occur immediately after the execution and
delivery of this Amendment or by the performance or observance of any provision
hereof; and (e) this Amendment constitutes a valid and binding obligation of
such Borrower in every respect, enforceable in accordance with its
terms.

     

    20.           Credit Agreement
Unaffected.  Each reference that is made in the Credit
Agreement or any other Loan Document shall hereafter be construed as a reference
to the Credit Agreement as amended hereby.  Except as herein otherwise
specifically provided, all provisions of the Credit Agreement shall remain in
full force and effect and be unaffected hereby.

     

    21.           Counterparts.  This
Amendment may be executed in any number of counterparts, by different parties
hereto in separate counterparts and by facsimile signature, each of which when
so executed and delivered shall be deemed to be an original and all of which
taken together shall constitute but one and the same agreement.

     

    22.           Entire
Agreement.  This Amendment is specifically limited to the
matters expressly set forth herein.  This Amendment and all other
instruments, agreements and documents executed and delivered in connection with
this Amendment embody the final, entire agreement among the parties hereto with
respect to the subject matter hereof and supersede any and all prior
commitments, agreements, representations and understandings, whether written or
oral, relating to the matters covered by this Amendment, and may not be
contradicted or varied by evidence of prior, contemporaneous or subsequent oral
agreements or discussions of the parties hereto.  There are no oral
agreements among the parties hereto relating to the subject matter hereof or any
other subject matter relating to the Credit Agreement.

     

    23.           Governing Law; Submission to
Jurisdiction; Venue; Waiver of Jury Trial.  

     

    

    
      
        
           

        

        
          18 

          
            

          

        

        
           

        

      

    

    

    (a)           THIS
AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE
CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAWS OF THE STATE OF TEXAS
WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES.  TO THE FULLEST EXTENT
PERMITTED BY LAW, THE BORROWERS HEREBY UNCONDITIONALLY AND IRREVOCABLY WAIVE ANY
CLAIM TO ASSERT THAT THE LAW OF ANY JURISDICTION OTHER THAN THE STATE OF TEXAS
GOVERNS THIS AMENDMENT.  Any legal action or proceeding with respect
to this Amendment may be brought in any court located in Harris County, Texas or
in any court of the United States for the Southern District of Texas, Houston
Division, and, by execution and delivery of this Amendment, each Borrower hereby
irrevocably accepts for itself and in respect of its property, generally and
unconditionally, the jurisdiction of the aforesaid courts.  The
Borrowers hereby further irrevocably consent to the service of process out of
any of the aforementioned courts in any such action or proceeding by the mailing
of copies thereof by registered or certified mail, postage prepaid, to the
Borrower Representative at its address for notices pursuant to Section 11.05 of
the Credit Agreement, such service to become effective 30 days after such
mailing or at such earlier time as may be provided under applicable
law.  Nothing herein shall affect the right of the Administrative
Agent or any Lender to serve process in any other manner permitted by law or to
commence legal proceedings or otherwise proceed against the Borrowers in any
other jurisdiction.

     

    (b)           The
Borrowers hereby irrevocably waive any objection that they may now or hereafter
have to the laying of venue of any of the aforesaid actions or proceedings
arising out of or in connection with this Amendment brought in the courts
referred to in Section 21(a) above and hereby further irrevocably waive and
agree not to plead or claim in any such court that any such action or proceeding
brought in any such court has been brought in an inconvenient
forum.

     

    (c)           EACH OF THE PARTIES TO THIS AMENDMENT
HEREBY IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING
OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AMENDMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY.  EACH PARTY HERETO HEREBY (A) CERTIFIES THAT NO
REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY
OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK
TO ENFORCE THE FOREGOING WAIVER, AND (B) ACKNOWLEDGES THAT IT AND THE OTHER
PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER
THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS
PARAGRAPH.

     

    (Signature
pages follow.)

     

    

     

    

    
      
        
           

        

        
          19 

          
            

          

        

        
           

        

      

    

    

    IN
WITNESS WHEREOF, this Amendment has been duly executed and delivered as of the
date first above written.

     

    
      	 
      	
              ICO,
      INC.

            
	 
      	 
      
	 
      	
              By:

            	
              /s/
      Bradley T. Leuschner

            
	 
      	
              Name: 

            	
              Bradley
      T. Leuschner

            
	 
      	
              Title: 

            	
              Chief
      Financial Officer & Treasurer

            
	 
      	 
      
	 
      	 
      
	 
      	
              BAYSHORE
      INDUSTRIAL, L.P.

            
	 
      	 
      
	 
      	
              By:

            	
              Bayshore
      Industrial GP, L.L.C.

            
	 
      	
              Its:

            	
              General
      Partner

            
	 
      	
              By:

            	
              /s/
      Bradley T. Leuschner

            
	 
      	
              Name:

            	
              Bradley
      T. Leuschner

            
	 
      	
              Title:

            	
              Vice
      President, Chief Financial Officer &

            
	 
      	 
      	
              Treasurer

            
	 
      	 
      
	 
      	 
      
	 
      	
              ICO
      POLYMERS NORTH AMERICA, INC.

            
	 
      	 
      
	 
      	
              By:

            	
              /s/
      Bradley T. Leuschner

            
	 
      	
              Name:

            	
              Bradley
      T. Leuschner

            
	 
      	
              Title:

            	
              Sr.
      Vice President, Chief Financial Officer &

            
	 
      	 
      	
              Treasurer

            

    

    

    

    
      
        
          
             Amendment
No. 4 to Credit Agreement

          

           

        

        
           

          
            

          

        

        
           

        

      

    

     

     

    

    
      	 
      	
              KEYBANK NATIONAL
      ASSOCIATION, as

            
	 
      	
              Administrative
      Agent and as a Lender

            
	 
      	 
      
	 
      	
              By:

            	
              /s/
      Brian Fox

            
	 
      	
              Name:

            	
              Brian
      Fox

            
	 
      	
              Title:

            	
              Assistant
      Vice President

            

    

    

    

    
      
        
          
             
Amendment No. 4 to Credit
Agreement 

          

           

        

        
           

          
            

          

        

        
           

        

      

    

     

     

    
 

    
      	 
      	
              WELLS
      FARGO BANK, NATIONAL

            
	 
      	
              ASSOCIATION, as a
      Lender

            
	 
      	 
      
	 
      	
              By:

            	
              /s/
      Chad Johnson

            
	 
      	
              Name:

            	
              Chad
      Johnson

            
	 
      	
              Title:

            	
              Vice
      President

            

    

    

    

    
      
        
          
             
Amendment No. 4 to Credit
Agreement 

          

           

        

        
           

          
            

          

        

        
           

        

      

    

     

    
 

    SUBSIDIARY GUARANTOR
ACKNOWLEDGMENT AND AGREEMENT

    

    Each of
the undersigned (collectively, the “Subsidiary
Guarantors” and, individually, “Subsidiary
Guarantor”) consents and agrees to and acknowledges the terms of the
foregoing Amendment No. 4 to Credit Agreement, dated as of May 2, 2008 (the
“Amendment”).  Each
Subsidiary Guarantor specifically acknowledges the terms of and consents to the
amendments set forth in the Amendment.  Each Subsidiary Guarantor
further agrees that its obligations pursuant to the Subsidiary Guaranty shall
remain in full force and effect and be unaffected hereby.

     

    Each
Subsidiary Guarantor hereby waives and releases, to the fullest extent permitted
by applicable law, the Administrative Agent and each of the Lenders and their
respective directors, officers, employees, attorneys, affiliates, and
subsidiaries from any and all claims, offsets, defenses, and counterclaims of
which any of the Subsidiary Guarantors is aware, such waiver and release being
with full knowledge and understanding of the circumstances and effect thereof
and after having consulted legal counsel with respect thereto.

     

    EACH
SUBSIDIARY GUARANTOR HEREBY IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY JURY IN
ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS
SUBSIDIARY GUARANTOR ACKNOWLEDGMENT AND AGREEMENT OR THE AMENDMENT, OR THE
TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.  EACH SUBSIDIARY
GUARANTOR HEREBY CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY
PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH PERSON WOULD NOT, IN
THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER.

     

    (Signature
page follows.)

     

    

     

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

     

    
 

    IN
WITNESS WHEREOF, this Subsidiary Guarantor Acknowledgment and Agreement has been
duly executed and delivered as of the date of the Amendment.

     

    

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	 
      	
                ICO
      GLOBAL SERVICES, INC.

              
	 
      	 
      
	 
      	
                By:

              	
                /s/
      Donald Eric Parsons

              
	 
      	
                Name:

              	
                Donald
      Eric Parsons

              
	 
      	
                Title:

              	
                President

              
	 
      	 
      
	 
      	 
      
	 
      	
                ICO P&O,
      INC.

              
	 
      	 
      
	 
      	
                By:

              	
                /s/
      Bradley T. Leuschner

              
	 
      	
                Name:

              	
                Bradley
      T. Leuschner

              
	 
      	
                Title:

              	
                Chief
      Financial Officer & Treasurer

              
	 
      	 
      
	 
      	 
      
	 
      	
                ICO
      TECHNOLOGY, INC.

              
	 
      	 
      
	 
      	
                By:

              	
                /s/
      Bradley T. Leuschner

              
	 
      	
                Name:

              	
                Bradley
      T. Leuschner

              
	 
      	
                Title:

              	
                Vice
      President, Chief Financial Officer &

              
	 
      	 
      	
                Treasurer

              
	 
      	 
      
	 
      	 
      
	 
      	
                WEDCO
      TECHNOLOGY, INC.

              
	 
      	 
      
	 
      	
                By:

              	
                /s/
      Bradley T. Leuschner

              
	 
      	
                Name:

              	
                Bradley
      T. Leuschner

              
	 
      	
                Title:

              	
                President,
      Chief Financial Officer &

              
	 
      	 
      	
                Treasurer

              
	 
      	 
      
	 
      	 
      
	 
      	
                WORLDWIDE
      GP, L.L.C.

              
	 
      	 
      
	 
      	
                By:

              	
                /s/
      Bradley T. Leuschner

              
	 
      	
                Name:

              	
                Bradley
      T. Leuschner

              
	 
      	
                Title:

              	
                Manager,
      President & Treasurer

              
	 
      	 
      
	 
      	 
      
	 
      	
                WORLDWIDE
      LP, L.L.C.

              
	 
      	
                By:

              	
                ICO
      Global Services, Inc.

              
	 
      	 
      	
                Its
      Sole Member

              
	 
      	 
      
	 
      	
                By:

              	
                /s/
      Donald E. Parsons

              
	 
      	
                Name:

              	
                Donald
      E. Parsons

              
	 
      	
                Title:

              	
                President

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    
      
        
          
             Subsidiary
Guarantor Acknowledgment and Agreement

          

           

        

        
           

          
            

          

        

        
           

        

      

    

    

    

    
      	 
      	 
      
	 
      	
              ICO
      WORLDWIDE, L.P.

            
	 
      	
              By:

            	
              Worldwide
      GP, L.L.C.

            
	 
      	 
      	
              Its
      General Partner

            
	 
      	 
      
	 
      	
              By:

            	
              /s/
      Bradley T. Leuschner

            
	 
      	
              Name:

            	
              Bradley
      T. Leuschner

            
	 
      	
              Title:

            	
              Manager,
      President & Treasurer

            
	 
      	 
      
	 
      	 
      
	 
      	
              BAYSHORE
      INDUSTRIAL GP, L.L.C.

            
	 
      	 
      
	 
      	
              By:

            	
              /s/
      Bradley T. Leuschner

            
	 
      	
              Name:

            	
              Bradley
      T. Leuschner

            
	 
      	
              Title:

            	
              Vice
      President, Chief Financial Officer &

            
	 
      	 
      	
              Treasurer

            
	 
      	 
      
	 
      	 
      
	 
      	
              BAYSHORE
      INDUSTRIAL LP, L.L.C.

            
	 
      	
              By:

            	
              ICO
      Global Services, Inc.

            
	 
      	 
      	
              Its
      Sole Member

            
	 
      	 
      
	 
      	
              By:

            	
              /s/
      Donald Eric Parsons

            
	 
      	
              Name:

            	
              Donald
      Eric Parsons

            
	 
      	
              Title:

            	
              President

            
	 
      	 
      
	 
      	 
      
	 
      	
              ICO
      POLYMERS, INC.

            
	 
      	 
      
	 
      	
              By:

            	
              /s/
      Bradley T. Leuschner

            
	 
      	
              Name:

            	
              Bradley
      T. Leuschner

            
	 
      	
              Title:

            	
              Vice
      President, Chief Financial Officer &

            
	 
      	 
      	
              Treasurer

            
	 
      	 
      
	 
      	 
      
	 
      	
              BAYSHORE
      RE HOLDINGS, INC.

            
	 
      	 
      
	 
      	
              By:

            	
              /s/
      Bradley T. Leuschner

            
	 
      	
              Name:

            	
              Bradley
      T. Leuschner

            
	 
      	
              Title:

            	
              Vice
      President, Chief Financial Officer &

            
	 
      	 
      	
              Treasurer

            

    

    

    
      
        
          
                                                                                                                                                      
Subsidiary Guarantor
Acknowledgment and Agreement 

          

           

        

        
           

          
            

          

        

        
           

        

      

    

     

     

    
 

    
      	 
      	
              CHINA
      RE HOLDINGS, INC.

            
	 
      	 
      
	 
      	
              By:

            	
              /s/
      Bradley T. Leuschner

            
	 
      	
              Name:

            	
              Bradley
      T. Leuschner

            
	 
      	
              Title:

            	
              Vice
      President, Chief Financial Officer &

            
	 
      	 
      	
              Treasurer

            

    

    

    

    
      
        
          
             Subsidiary
Guarantor Acknowledgment and Agreement

          

           

        

        
           

          
            

          

        

        
           

        

      

    

    

    

    EXHIBIT
A

     

    Schedule
1

     

    

     

    Lenders and
Commitments

     

    
      	
              Lender

            	
              Revolving
      A

            	
              Revolving
      A

            	
              Revolving
      B

            	
              Revolving
      B

            	
              Term

            
	 
      	
              Commitment

            	
              Facility

            	
              Commitment

            	
              Facility

            	
              Commitment

            
	 
      	 
      	
              Percentage
      as of

            	 
      	
              Percentage
      as of

            	 
      
	 
      	 
      	
              the
      Amendment

            	 
      	
              the
      Amendment

            	 
      
	 
      	 
      	
              No.
      4 Effective

            	 
      	
              No.
      4 Effective

            	 
      
	 
      	 
      	
              Date

            	 
      	
              Date

            	 
      
	
              KeyBank
      National

            	
              $15,000,000.00

            	
              50.00%

            	
              $2,500,000.00

            	
              50.00%

            	
              $7,083,333.50

            
	
              Association

            	 
      	 
      	 
      	 
      	 
      
	
              Wells
      Fargo Bank,

            	
              $15,000,000.00

            	
              50.00%

            	
              $2,500,000.00

            	
              50.00%

            	
              $7,083,333.50

            
	
              National

            	 
      	 
      	 
      	 
      	 
      
	
              Association

            	 
      	 
      	 
      	 
      	 
      
	
              Total:

            	
              $30,000,000.00

            	
              100.00%

            	
              $5,000,000.00

            	
              100.00%

            	
              $14,166,667.00

            

    

    

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    EXHIBIT
B

    

    

    
      	
              EXHIBIT
      A-1A

            
	 
      
	
              REVOLVING
      A FACILITY NOTE

            
	 
      
	
              $15,000,000.00

            	
              May
      2, 2008

            
	 
      	
              Houston,
      Texas

            

    

     

    FOR VALUE
RECEIVED, the undersigned ICO, INC., a Texas corporation (“ICO”), BAYSHORE
INDUSTRIAL, L.P., a Texas limited partnership (“Bayshore”), and ICO
POLYMERS NORTH AMERICA, INC., a New Jersey corporation (“ICO Polymers,” and
together with ICO and Bayshore, the “Borrowers” and
individually, each a “Borrower”), jointly
and severally, hereby promise to pay to the order of [_______________________]
(the “Lender”)
the principal sum of FIFTEEN MILLION DOLLARS AND NO CENTS ($15,000,000.00) or,
if less, the then unpaid principal amount of all Revolving A Loans (such term
and each other capitalized term used herein without definition shall have the
meanings ascribed thereto in the Credit Agreement referred to below) made by the
Lender to the Borrowers pursuant to the Credit Agreement, in Dollars and in
immediately available funds, at the Payment Office on the Revolving Facility
Termination Date.

     

    This
Revolving A Facility Note is one of the Notes referred to in the Credit
Agreement, dated as of October 27, 2006, as amended by Amendment No. 1 and
Waiver to Credit Agreement, dated April 25, 2007, Amendment No. 2 to Credit
Agreement, dated June 25, 2007, and Amendment No. 3 and Waiver to Credit
Agreement, dated October 1, 2007, as amended by amendment No. 4 to Credit
Agreement, dated as of the date hereof (as may be further amended, restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”)
among the Borrowers, KEYBANK NATIONAL ASSOCIATION, a national banking
association, WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking
association, and the other lending institutions from time to time party thereto
(each a “Lender” and
collectively, the “Lenders”), and
KEYBANK NATIONAL ASSOCIATION, a national banking association, as an LC Issuer,
lead arranger, bookrunner, and administrative agent (in such capacity as
administrative agent, the “Administrative
Agent”), and is entitled to the benefits thereof and of the other Loan
Documents.  As provided in the Credit Agreement, this Revolving A
Facility Note is subject to mandatory repayment prior to the Revolving Facility
Termination Date, in whole or in part.

     

    This
Revolving A Facility Note wholly amends, restates and replaces the Revolving
Facility Note, dated October 27, 2006, among each of the Borrowers and
[____________].

     

    In case
an Event of Default shall occur and be continuing, the principal of and accrued
interest on this Revolving A Facility Note may be declared to be due and payable
in the manner and with the effect provided in the Credit Agreement.

     

    The
Borrowers hereby waive presentment, demand, protest or notice of any kind in
connection with this Revolving A Facility Note, except as expressly set forth in
the Credit Agreement or the other Loan Documents. No failure to exercise, or
delay in exercising, any rights hereunder on the part of the holder hereof shall
operate as a waiver of any such rights.

     

    This
Revolving A Facility Note shall be construed in accordance with and be governed
by the laws of the State of Texas, without regard to principles of conflict of
law.

     

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    THE
UNDERSIGNED HEREBY IRREVOCABLY WAIVE ALL RIGHTS TO A TRIAL BY JURY IN ANY
ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS REVOLVING
A FACILITY NOTE, THE OTHER LOAN DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED
HEREBY OR THEREBY.

     

    
      	 
      	
              ICO,
      INC.

               

              By:          

              Name:                                                                 

              Title:                                                                 

               

            
	 
      	
              BAYSHORE
      INDUSTRIAL, L.P.

              By:          _______________________

              Its:          General
      Partner

              By:          

              Name:                                                                 

              Title:                                                                 

               

            
	 
      	
              ICO
      POLYMERS NORTH AMERICA, INC.

               

              By:          

              Name:                                                                 

              Title:                                                                 

               

            

    

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    EXHIBIT
C

    

    

    
      	
              EXHIBIT
      A-1B

            
	 
      
	
              REVOLVING
      B FACILITY NOTE

            
	 
      
	
              $2,500,000.00

            	
              May
      2, 2008

            
	 
      	
              Houston,
      Texas

            

    

     

    FOR VALUE
RECEIVED, the undersigned ICO, INC., a Texas corporation (“ICO”), BAYSHORE
INDUSTRIAL, L.P., a Texas limited partnership (“Bayshore”), and ICO
POLYMERS NORTH AMERICA, INC., a New Jersey corporation (“ICO Polymers,” and
together with ICO and Bayshore, the “Borrowers” and
individually, each a “Borrower”), jointly
and severally, hereby promise to pay to the order of [_______________________]
(the “Lender”)
the principal sum of TWO MILLION FIVE HUNDRED THOUSAND DOLLARS AND NO CENTS
($2,500,000.00) or, if less, the then unpaid principal amount of all Revolving B
Loans (such term and each other capitalized term used herein without definition
shall have the meanings ascribed thereto in the Credit Agreement referred to
below) made by the Lender to the Borrowers pursuant to the Credit Agreement, in
Dollars and in immediately available funds, at the Payment Office on the
Revolving Facility Termination Date.

     

    This
Revolving B Facility Note is one of the Notes referred to in the Credit
Agreement, dated as of October 27, 2006, as amended by Amendment No. 1 and
Waiver to Credit Agreement, dated April 25, 2007, Amendment No. 2 to Credit
Agreement, dated June 25, 2007, and Amendment No. 3 and Waiver to Credit
Agreement, dated October 1, 2007, as amended by amendment No. 4 to Credit
Agreement, dated as of the date hereof (as may be further amended, restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”)
among the Borrowers, KEYBANK NATIONAL ASSOCIATION, a national banking
association, WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking
association, and the other lending institutions from time to time party thereto
(each a “Lender” and
collectively, the “Lenders”), and
KEYBANK NATIONAL ASSOCIATION, a national banking association, as an LC Issuer,
lead arranger, bookrunner, and administrative agent (in such capacity as
administrative agent, the “Administrative
Agent”), and is entitled to the benefits thereof and of the other Loan
Documents.  As provided in the Credit Agreement, this Revolving B
Facility Note is subject to mandatory repayment prior to the Revolving Facility
Termination Date, in whole or in part.

     

    In case
an Event of Default shall occur and be continuing, the principal of and accrued
interest on this Revolving B Facility Note may be declared to be due and payable
in the manner and with the effect provided in the Credit Agreement.

     

    The
Borrowers hereby waive presentment, demand, protest or notice of any kind in
connection with this Revolving B Facility Note, except as expressly set forth in
the Credit Agreement or the other Loan Documents. No failure to exercise, or
delay in exercising, any rights hereunder on the part of the holder hereof shall
operate as a waiver of any such rights.

     

    This
Revolving B Facility Note shall be construed in accordance with and be governed
by the laws of the State of Texas, without regard to principles of conflict of
law.

     

    

    
      
        
          
             

          

           

        

        
           

          
            

          

        

        
           

        

      

    

    

    THE
UNDERSIGNED HEREBY IRREVOCABLY WAIVE ALL RIGHTS TO A TRIAL BY JURY IN ANY
ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS REVOLVING
B FACILITY NOTE, THE OTHER LOAN DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED
HEREBY OR THEREBY.

     

    
      	 
      	
              ICO,
      INC.

               

              By:          

              Name:                                                                 

              Title:                                                                 

               

            
	 
      	
              BAYSHORE
      INDUSTRIAL, L.P.

              By:          _______________________

              Its:          General
      Partner

              By:          

              Name:                                                                 

              Title:                                                                 

               

            
	 
      	
              ICO
      POLYMERS NORTH AMERICA, INC.

               

              By:          

              Name:                                                                 

              Title:

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