Document:

Exhibit
10.1

 

UNITED STATIONERS SUPPLY CO.

SEVERANCE PAY PLAN

 

SUMMARY PLAN DESCRIPTION

 

(Effective as of August 1,
2004)

 

This
Corporate Plan and Summary Plan Description is intended to provide guidance to
both management and associates, and supersedes and replaces any and all
Corporate Policies and Procedures previously issued.  It does not constitute a contractual
obligation of any kind to any prospective, present or past associate.  The Company reserves the right to revise,
delete, or add to any and all policies, procedures, work rules or benefits
discussed or summarized in this Corporate Policy and Procedure.

 

 

TABLE OF CONTENTS

 

	
  INTRODUCTION

  	
  1

  
	
   

  	
   

  
	
  ELIGIBLE EMPLOYEES

  	
  1

  
	
   

  	
   

  
	
  ELIGIBILITY REQUIREMENTS

  	
  2

  
	
   

  	
   

  
	
  CONDITIONS OF INELIGIBILITY

  	
  2

  
	
   

  	
   

  
	
  SEVERANCE PAY AND SEVERANCE BENEFITS

  	
  3

  
	
   

  	
   

  
	
  SEPARATION AND RELEASE AGREEMENT

  	
  5

  
	
   

  	
   

  
	
  PAYMENT OF SEVERANCE PAY

  	
  6

  
	
   

  	
   

  
	
  PLAN ADMINISTRATION

  	
  6

  
	
   

  	
   

  
	
  PROCEDURE FOR MAKING AND APPEALING CLAIMS
  FOR PLAN SEVERANCE PAY AND SEVERANCE BENEFITS

  	
  7

  
	
   

  	
   

  
	
  AMENDMENT/TERMINATION/VESTING

  	
  8

  
	
   

  	
   

  
	
  NO ASSIGNMENT

  	
  8

  
	
   

  	
   

  
	
  RECOVERY OF PAYMENTS MADE BY MISTAKE

  	
  8

  
	
   

  	
   

  
	
  CONFIDENTIAL INFORMATION/COOPERATION

  	
  8

  
	
   

  	
   

  
	
  REPRESENTATIONS CONTRARY TO THE PLAN

  	
  9

  
	
   

  	
   

  
	
  NO EMPLOYMENT RIGHTS

  	
  9

  
	
   

  	
   

  
	
  PLAN FUNDING

  	
  9

  
	
   

  	
   

  
	
  APPLICABLE LAW

  	
  9

  
	
   

  	
   

  
	
  SEVERABILITY

  	
  10

  
	
   

  	
   

  
	
  PLAN YEAR

  	
  10

  
	
   

  	
   

  
	
  MAXIMUM PAYMENTS

  	
  10

  
	
   

  	
   

  
	
  MISCELLANEOUS PROVISIONS

  	
  10

  
	
   

  	
   

  
	
  YOUR RIGHTS UNDER ERISA

  	
  10

  
	
   

  	
   

  
	
  GENERAL INFORMATION

  	
  12

  

 

 

UNITED STATIONERS SUPPLY CO.

SEVERANCE PAY PLAN

 

SUMMARY PLAN DESCRIPTION

 

INTRODUCTION

 

UNITED STATIONERS SUPPLY CO. on
behalf of itself and its participating subsidiaries and divisions, including
any subsidiaries and/or divisions acquired after the date hereof unless
indicated otherwise (the “Company”) hereby adopts the UNITED
STATIONERS SUPPLY CO. SEVERANCE PAY PLAN (the “Plan”),
effective as of August 1, 2004, for the benefit of eligible employees
of the Company.

 

The Plan is an unfunded welfare benefit plan for
purposes of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and a severance pay plan within the meaning of
United States Department of Labor regulations section 2510.3-2(b).  The Plan supersedes any prior formal or
informal severance plans, communications (including, but not limited to offer
letters), programs or policies of the Company covering eligible employees.  This document serves as both the Plan
document and the Summary Plan Description for the Plan for all purposes under
ERISA.

 

The purpose of the Plan is to provide an eligible
employee with the opportunity to receive severance pay and severance benefits
for a specified period of time in the event that his/her employment is
involuntarily terminated due to (i) lack of work, (ii) rearrangement of work,
(iii) reduction in workforce, or (iv) position elimination, all as determined
in the sole discretion of the Plan Administrator.

 

ELIGIBLE
EMPLOYEES

 

The Plan is applicable only to eligible employees of
the Company.  For all purposes of the
Plan, “eligible employee” means (i) a
full-time exempt employee or full-time non-exempt employee of the Company who
works at least 30 hours per week; (ii) who is notified in writing by the
Company that he/she is being involuntarily terminated under circumstances which
make him/her eligible for severance pay and severance benefits under the Plan.

 

“Eligible employee” does not include, and the Plan is
not applicable to, any employee or individual who:  (i) is covered by a written employment
agreement which contains a severance provision or is covered by a written
severance agreement, (ii) is classified as temporary, resource staff or other
supplemental staff,
(iii) is an independent contractor, (iv) is a consultant, (v) is a person
performing services for the Company under an independent contractor or
consultant agreement, purchase order, supplier agreement or any other form of
agreement which the Company enters into for services, (vi) is providing
services to the Company pursuant to an agreement between the Company and a
third party, whether or not the employee or individual is a “leased employee”
of the Company as defined in Section 414(n) of the Internal Revenue Code,
(vii) is an employee of the Company, but is providing substantial services to a
third party pursuant

 

 

to an agreement between the Company and the third
party, whether or not the employee is a “leased employee” of the third party as
defined in Section 414(n) of the Internal Revenue Code, (viii) any other
individual who is compensated, directly or indirectly, by the Company and with
respect to whom compensation is not treated by the Company at the time of
payment as being subject to statutorily required payroll tax withholding, such
as withholding of federal and/or state income tax and/or withholding of the
employee’s share of Social Security Tax, (ix) is a contract employee, or any
employee classified by the Company other than as a full-time exempt employee or
full-time non-exempt employee, or (x) is covered by a collective bargaining
agreement, unless such collective bargaining agreement provides for his/her
coverage under the Plan.

 

ELIGIBILITY
REQUIREMENTS

 

In order for an eligible employee to be eligible to
receive Plan severance pay and severance benefits, an eligible employee must
meet the following eligibility requirements: 
(i) he/she must remain in the employ of the Company through the date of
termination of employment designated in writing by the Company, (ii) through
the date of termination of employment, he/she must fulfill the normal
responsibilities of his/her position, including meeting regular attendance,
workload and other standards of the Company, (iii) he/she must return all
Company property including, but not limited to, Confidential Information (as
defined below under the caption, “Confidential Information/ Cooperation”),
customer and supplier lists and information, keys, credit cards, access and
security cards, passwords, personal digital assistants, mobile telephones,
pagers, financial, sales and marketing materials, training materials, handbooks
and manuals, documents and records (all whether in paper or electronic form),
identification cards, equipment, computers, and software, (iv) he/she must
complete and submit all expense reimbursement requests, (v) he/she must repay
any outstanding bills, Company credit card balances, advances, debts, amounts
due to the Company as of his/her date of termination of employment, (vi) he/she
must submit the signed Separation and Release Agreement required by the Plan,
and (vii) he/she must not revoke the signed Separation and Release Agreement.

 

CONDITIONS
OF INELIGIBILITY

 

An employee of the Company shall not be eligible for
severance pay and severance benefits under the Plan if:

 

(a)                                  the
employee is not, or ceases to be, an eligible employee as then defined in the
Plan;

 

(b)                                 the
employee’s employment with the Company terminates by reason of retirement,
resignation, failure to report to work, death or discharge for cause (as
defined below), as determined in the sole discretion of the Company;

 

2

 

(c)                                  employment
with the Company is involuntarily terminated after the employee is offered and
refuses a position with the Company and such position pays similar base pay
(i.e., the current base pay level or a greater base pay level or within five
percent (5%) of the current base pay level if the employee is changed to a
lesser base pay level);

 

(d)                                 the
employee is employed in a Company division, department, operational unit,
function or facility which is sold, leased or otherwise divested and the
employee is offered employment by the successor entity that pays a similar base
pay (i.e. at least the current base pay level or within twenty percent (20%) of
the current base pay level if the employee is changed to a lesser base pay
level);

 

(e)                                  the
employee’s employment with the Company terminates under circumstances which do
not meet the eligibility requirements of the Plan;

 

(f)                                    the
employee’s employment with the Company is terminated under the terms of an
individual separation arrangement or a group reorganization/

restructuring benefit plan or program sponsored by the Company; or

 

(g)                                 the
Plan is terminated.

 

The foregoing list of conditions is intended to be
illustrative and may not be all inclusive; the Plan Administrator will
determine in the Plan Administrator’s sole discretion whether an eligible
employee is eligible for severance pay and severance benefits under the Plan.

 

For all purposes under the Plan, “discharge
for cause” means termination of the employee’s employment, in whole
or part because of (a) negligence or misconduct by the employee in the
performance of his/her duties for the Company, (b) non-performance by the
employee of his/her duties for the Company, (c) the employee’s conviction of,
or plea of nolo contender to, a felony (excluding motor vehicle violations),
(d) the employee’s act of fraud, dishonesty, theft or embezzlement (or
attempted fraud, theft or embezzlement) with respect to the Company, or (e) any
other actions or omissions of the employee which, in the judgment of the Plan
Administrator, harms the reputation or interests of the Company  or causes the employee to be unable to
perform his/her duties.

 

SEVERANCE PAY AND SEVERANCE
BENEFITS

 

If an eligible employee satisfies the eligibility
requirements, his/her severance pay and severance benefits will be based upon
his/her employment classification.

 

In exchange for signing a Separation and Release
Agreement, in a form to be designated solely by the Company, each eligible
employee is eligible to receive as Plan severance pay and severance benefits
the following.

 

3

 

(a)                                  Severance
Pay:

 

Severance pay shall be determined in accordance with
the following table:

 

	
  Eligible Employee’s

  Employment Classification

  	
   

  	
  Amount of Severance Pay

  
	
   

  	
   

  	
   

  
	
  Company Officer

  	
   

  	
  Greater of:

  
	
   

  	
   

  	
  26 weeks of pay; or

  
	
   

  	
   

  	
  2 weeks of pay for each complete year of
  service, not to exceed 52 weeks of pay

  
	
   

  	
   

  	
   

  
	
  Non-Officer

  Exempt Employee

  	
   

  	
  Greater of:

  
	
   

  	
   

  	
  4 weeks of pay; or

  
	
   

  	
   

  	
  2 weeks of pay for each complete year of
  service, not to exceed 36 weeks of pay

  
	
   

  	
   

  	
   

  
	
  Nonexempt Employee

  	
   

  	
  Greater of:

  
	
   

  	
   

  	
  2 weeks of pay; or

  
	
   

  	
   

  	
  1 week of pay for each complete year of
  service not to exceed 26 weeks of pay

  

 

For all purposes of the Plan, an eligible employee’s “years of service” shall be determined, in accordance with
the Company’s personnel records, from the eligible employee’s last date of hire
or rehire, whichever is the latest to occur, through the date of employment
termination, but shall include only full years of service (without any prorated
amounts paid for periods of employment of less than 12 months from the anniversary
of such last date of hire or rehire).

 

For all purposes of the Plan, a “week of pay”
for an eligible employee shall be determined by using (i) for an exempt
eligible employee, the regular weekly base salary compensation rate on his/her
date of termination of employment with the Company and (ii) for a non-exempt
eligible employee, the regular hourly base compensation rate multiplied by
his/her regularly scheduled number of hours per week on his/her date of
termination of employment with the Company.

 

For all purposes of the Plan, an eligible employee’s
employment classification as an “exempt” or “non-exempt” employee shall be determined by the Plan
Administrator in accordance with the definition of such terms under the Fair
Labor Standards Act, as amended.

 

4

 

(b)                                 Severance
Benefits:

 

Health coverage
continuation:

 

The employee’s last day of active employment (“termination date”) marks the start of the
18-month Consolidated Omnibus Budget Reconciliation Act (“COBRA”) period.  An eligible employee has sixty (60) days from
the termination date to elect COBRA continuation, allowing him/her to continue
his/her elected Company sponsored medical, dental and vision benefits.  Such health benefits shall be provided to the
employee at the active employee contribution cost, which the employee shall be
required to pay, for the term of the severance period.  Thereafter, the eligible employee shall be
required to pay the full applicable COBRA premium, which is 102% of the total
cost of the benefits.  If COBRA is not
elected within the sixty (60) day election period, insurance benefits will be
terminated effective the last day of active employment with the Company.

 

Upon receiving notice of the termination date, the
employee shall receive at the employee’s home address, a packet explaining
his/her rights under COBRA.  If COBRA is
elected within the sixty (60) day enrollment period, the employee shall be
mailed information to the employee’s home address concerning the manner in which
the employee shall remit monthly COBRA premiums.

 

All of the terms and conditions of the Company
sponsored medical benefit plan, as amended from time to time, shall be
applicable to an eligible employee (and his/her eligible dependents, if
applicable) participating in any form of continuation coverage under the
Company sponsored medical benefit plan.

 

(c)                                  Career
Transition Assistance:

 

Each eligible employee shall be eligible to receive
career transition assistance services at such level as determined by the
Company.  Career transition assistance
services shall be provided by a career transition assistance firm selected and
paid for by the Company.  An eligible
employee must utilize the available career transition assistance services on
the date(s) and during the time period made available by the Company.

 

The consideration for the Separation and Release
Agreement shall be the severance pay and severance benefits made available
pursuant to the Plan, which the eligible employee otherwise would not be eligible
to receive.

 

SEPARATION AND RELEASE AGREEMENT

 

In order to receive the severance pay and severance benefits available
under the Plan, an eligible employee must submit a signed Separation and
Release Agreement in a form to be designated solely by the Company. While the
Company expressly reserves

 

5

 

the right to designate the terms and conditions (as well as to revise,
delete and add to) the Separation and Release Agreement, an example Separation
and Release Agreement is attached hereto as Attachment I.

 

Severance pay and severance benefits shall not be paid unless and until
a signed Separation and Release Agreement is received by the Plan Administrator
(or his/her designee) and any revocation period, as may be specified in the
Separation and Release Agreement, has expired. 
An eligible employee who timely submits (and does not revoke) a signed
Separation and Release Agreement form shall be eligible to receive severance
pay and severance benefits under the Plan. 
Eligible employees are encouraged to contact their personal attorney or
representative, at their own expense, to review the Separation and Release
Agreement form if they so desire.

 

PAYMENT
OF SEVERANCE PAY

 

Subject to the eligible employee’s satisfaction of the
other terms and conditions contained in this policy and the applicable
Separation and Release Agreement, severance pay will be paid in substantially
equal installments, commencing as soon as practicable following the eligible
employee’s date of termination of employment and continuing in periodic
payments based on the same payroll schedule in effect prior to
termination.  The Company reserves the
right, in its sole discretion, to elect to pay severance pay in a single lump
sum payment.  However, any severance pay
and severance benefits which become payable will be paid prospectively, only
after any revocation period for a signed Separation and Release Agreement has
passed.  All legally required taxes and any
sums owed the Company shall be deducted from Plan severance pay.  In the event that an eligible employee who is
receiving payment of severance pay under the Plan is reemployed by the Company,
the continuation of severance pay and severance benefits pursuant to the Plan
shall cease.

 

PLAN
ADMINISTRATION

 

The Administrative Committee for the Plan (which shall
consist of the same persons as the Administrative Committee for the United Stationers General Pension Plan,
the United Stationers Union Pension
Plan and the United Stationers
401(k) Savings Plan) shall serve as the “Plan
Administrator” of the Plan and the “named
fiduciary” within the meaning of such terms as defined in
ERISA.  The Plan Administrator shall have
the discretionary authority to determine eligibility for Plan severance pay and
severance benefits and to construe the terms of the Plan, including the making
of factual determinations.  The decisions
of the Plan Administrator shall be final and conclusive with respect to all
questions concerning the administration of this Plan.  The Plan Administrator will determine, in the
Plan Administrator’s sole discretion, whether an employee is an eligible
employee and is eligible for severance pay and severance benefits under the
Plan.

 

The Plan Administrator may delegate to other persons
responsibilities for performing certain of the duties of the Plan
Administrator, under the terms of this Plan, and may seek such expert advice as
the Plan Administrator deems reasonably necessary with

 

6

 

respect to the Plan. 
The Plan Administrator shall be entitled to rely upon the information
and advice furnished by such delegates and experts, unless actually knowing
such information and advice to be inaccurate or unlawful.  The Plan Administrator shall establish and
maintain a reasonable claims procedure, including a procedure for appeal of
denied claims.

 

In the event of a group termination as determined in
the sole discretion of the Plan Administrator, the Plan Administrator shall
furnish affected eligible employees with such additional information as may be
required by law.

 

PROCEDURE FOR
MAKING AND APPEALING CLAIMS FOR PLAN SEVERANCE PAY AND SEVERANCE BENEFITS

 

It is not necessary that an eligible employee apply
for benefits under the Plan.  However, if
an eligible employee wishes to file a claim, such claim must be in writing and
filed with the Company’s Benefits Department. 
Within sixty (60) days after receiving a claim, the Benefits Department
will:

 

(a)                                  either accept or deny the claim
completely or partially; and

 

(b)                                 notify the claimant of
acceptance or denial of the claim.

 

If the claim is completely or partially denied, the
Company’s Benefits Department will furnish a written notice to the claimant
containing the following information:

 

(a)                                  specific reasons for the denial;

 

(b)                                 specific references to the Plan
provisions on which any denial is based;

 

(c)                                  a description of any additional
material or information that must be provided by the claimant in order to
support the claim; and

 

(d)                                 an explanation of the Plan’s
appeal procedures and time limits applicable to such procedures, including a
statement of the claimant’s right to bring a civil action under ERISA Section 502(a).

 

A claimant may appeal the denial of his/her claim and
have the Plan Administrator reconsider the decision.  The claimant or the claimant’s authorized
representative has the right to:

 

(a)                                  request an appeal by written
request to the Plan Administrator no later than sixty (60) days after receipt
of notice from the Benefits Department denying his/her claim;

 

(b)                                 review pertinent Plan documents;
and

 

(c)                                  submit issues and comments
regarding the claim in writing to the Plan Administrator.

 

7

 

The Plan Administrator will make a decision with respect
to such an appeal within thirty (30) days after receiving the written request
for such appeal.  The claimant will be
advised of the Plan Administrator’s decision on the appeal in writing.  The notice will set forth the (i) specific
reasons for the decision, (ii) make specific reference to Plan provisions upon
which the decision on the appeal is based, (iii) a statement that the claimant
may access the relevant documents and information free of charge, and (iv) a
statement that the claimant has the right to bring a civil action under ERISA Section 502(a).

 

In no event shall a claimant or any other person be
entitled to challenge a decision of the Plan Administrator in court or in any
other administrative proceeding unless and until the claim and appeal procedures
described above have been complied with and exhausted.

 

AMENDMENT/TERMINATION/VESTING

 

Eligible employees do not have any vested right to
severance pay and/or severance benefits under the Plan.  United Stationers Supply Co. reserves the
right in its sole discretion to amend or terminate the Plan, at any time and
from time to time, in a writing that is adopted and signed by the Company’s Senior Vice President, Human
Resources and, unless the amendment is ministerial or administrative in
terms and effect, approved in advance by the Human Resources Committee of the
Company’s Board of Directors; provided, however, that no amendment or
termination shall reduce severance pay or severance benefits which have
commenced being provided to an eligible employee.

 

NO
ASSIGNMENT

 

Severance pay and severance benefits payable under the
Plan shall not be subject to anticipation, alienation, pledge, sale, transfer,
assignment, garnishment, attachment, execution, encumbrance, levy, lien, or
charge, and any attempt to cause such severance pay and severance benefits to
be so subjected shall not be recognized, except to the extent required by law.

 

RECOVERY OF PAYMENTS MADE BY
MISTAKE

 

An eligible employee shall be required to return to
the Company any severance pay payment and the value of any severance benefits
payment, or portion thereof, made by a mistake of fact or law.

 

CONFIDENTIAL
INFORMATION/COOPERATION

 

Eligible employees may have had access to trade
secrets and other confidential and proprietary information (“Confidential Information”) with regard to the business of
the Company or its suppliers or customers. 
Recognizing that the disclosure or improper use of such Confidential
Information or the breach of any restrictive covenant agreement(s) covering the
eligible employee will cause serious and irreparable injury to the Company,
eligible employees with such access and/or restrictive covenant agreement(s)
acknowledge that (i) they will not at any time, directly or indirectly,

 

8

 

disclose such Confidential Information to any third
party or otherwise use such Confidential Information for their own benefit or
the benefit of others or to the Company’s detriment, (ii) they will not breach
such restrictive covenant agreement(s), and (iii) payment of severance pay and
severance benefits under the Plan shall cease if an eligible employee discloses
or improperly uses such Confidential Information.

 

Each eligible employee shall cooperate with the
Company and its legal counsel in connection with any current or future
investigation or litigation relating to any matter to which the eligible
employee was involved or of which the eligible employee has knowledge or which
occurred during the eligible employee’s employment.  Such assistance shall include, but not be
limited to, depositions and testimony and shall continue until such matters are
resolved.  In addition, an eligible
employee shall not in any way disparage the Company or any person associated
with the Company to any person, corporation or other entity.

 

REPRESENTATIONS CONTRARY TO THE
PLAN

 

No employee, officer or director of the Company has
the authority to alter, vary or modify the terms of the Plan, except by means
of a written amendment to the Plan adopted, signed and approved, as required in
accordance with the Amendment/ Termination/Vesting provision above.  No verbal or written representations contrary
to the terms of the Plan, and its written amendments, shall be binding upon the
Plan, the Plan Administrator or the Company.

 

NO
EMPLOYMENT RIGHTS

 

This Plan is not intended to alter the “at will”
employment status of any person.  No
person shall be entitled, by virtue of the Plan, to remain in the employ of the
Company for a definite period of time. 
Employment can be terminated at any time, with or without cause, and
with or without notice, by any Company employee or by the Company, and nothing
in the Plan shall restrict those rights.

 

PLAN FUNDING

 

No eligible employee shall acquire, by reason of the
Plan, any right in or title to any assets, funds or property of the
Company.  Any severance pay that becomes
payable under the Plan is an unfunded obligation and shall be paid from the
general assets of the Company.  No
employee, officer, director or agent of the Company personally guarantees, in
any manner, the payment of Plan severance pay and severance benefits.

 

APPLICABLE
LAW

 

This Plan shall be governed and construed in
accordance with ERISA.  In the event that
any reference shall be made to State law, the laws of the State of Illinois
shall apply, without regard to its conflicts of law provisions.

 

9

 

SEVERABILITY

 

If any provision of the Plan is found, held or deemed
by a court of competent jurisdiction to be void, unlawful or unenforceable
under any applicable statute or other controlling law, the remainder of the
Plan shall continue in full force and effect as long as the economic and legal
substance thereof is consistent with the Company’s original intention with
respect to the Plan and, if not, the void, unlawful or unenforceable provision
shall be revised and reformed into a valid and enforceable provision that most
nearly effects such original intent.

 

PLAN YEAR

 

The ERISA plan year of this Plan shall be the twelve
month period commencing on January 1 of each year; except that for 2004,
the Plan year shall be a short plan year beginning August 1, 2004 and
ending December 31, 2004.

 

MAXIMUM
PAYMENTS

 

Except as otherwise provided by the Company in its
sole discretion, the severance pay and severance benefits available under the
Plan are the maximum pay and benefits available to an eligible employee in the
event of his/her involuntary termination of employment.  To the extent that a federal, state or local
law requires the Company to make a payment to an eligible employee because
of involuntary termination of employment or in accordance with a facility
closing law, including but not limited to the Worker Adjustment and Retraining
Notification Act, the severance pay and severance benefits otherwise payable
under the Plan shall be coordinated with and/or reduced by the amount of such
required payment.

 

MISCELLANEOUS
PROVISIONS

 

All pay and other benefits (except Plan severance pay
and severance benefits) payable to an eligible employee as of his/her date of
termination of employment with the Company according to the established
policies, plans, and procedures of the Company shall be paid in accordance with
the terms of those established policies, plans, and procedures.  In addition, any benefit continuation or
conversion rights which an eligible employee has as of his/her date of
termination of employment with the Company, according to the established
policies, plans, and procedures of the Company, shall be made available to him/her.

 

YOUR
RIGHTS UNDER ERISA

 

As an eligible employee under the Plan, you are
entitled to certain rights and protections under ERISA.  ERISA provides that eligible employees under
the Plan shall be entitled to:

 

(a)                                  Examine without charge by
appointment at the Company’s Benefits Department’s office (and at other
specified locations) all Plan documents and copies of all Plan documents filed
by the Plan with the U.S.

 

10

 

Department of Labor, such as detailed annual
reports and Plan descriptions.

 

(b)                                 Obtain copies of all Plan
documents and other Plan information upon written request to the Benefits
Department.  The Benefits Department may
make a reasonable charge for the copies.

 

In addition to creating rights for eligible employees,
ERISA imposes duties upon the people who are responsible for the operation of
the Plan:

 

(a)                                  The people who operate the Plan,
called “fiduciaries” of the Plan, have a duty to do so prudently and in the
interest of you and other eligible employees.

 

(b)                                 No one, including the Company,
or any other person may terminate your employment or otherwise discriminate
against you in any way to prevent you from obtaining a benefit or exercising
your rights under ERISA.

 

(c)                                  If your claim for a Plan benefit
is denied, in whole or in part, you must receive a written explanation of the
reason for the denial.  You have the
right to have the Plan Administrator review and reconsider your claim.

 

Under ERISA, there are steps you can take to enforce
the above rights.  For instance, if you
request materials from the Benefits Department and you do not receive them
within thirty (30) days, you may file suit in a federal court.  In such a case, the court may require the
Plan Administrator to provide the materials and to pay you up to $110 per day
until you receive the materials, unless the materials were not sent because of
reasons beyond the control of the Plan Administrator.  If you have a claim for benefits which is denied
or ignored, in whole or in part, you may file suit in a state or federal
court.  If it should happen that Plan
fiduciaries misuse the Plan’s money, or if you are discriminated against for
asserting your rights, you may seek assistance from the U.S. Department of
Labor or you may file suit in a federal court. 
The court will decide who should pay court costs and legal fees.  If you are successful, the court may order
the person you have sued to pay these costs and fees.  If you lose, the court may order you to pay
these costs and fees, for instance, if it finds your claim to be frivolous.

 

If you have any questions about the Plan, you should
contact the Company’s Benefits Department or the Plan Administrator.  If you have any questions about this
statement or about your rights under ERISA, you should contact the nearest
area office of the Pension and Welfare Benefits Administration, U.S. Department
of Labor, listed in your telephone directory or the Division of Technical
Assistance and Inquiries, Pension and Welfare Benefits Administration, U.S.
Department of Labor, 200 Constitution Avenue, N.W., Washington, D.C. 20210.

 

11

 

GENERAL
INFORMATION

 

	
  (a)

  	
   

  	
  Name of Plan:

  	
   

  	
  United Stationers Supply Co.

  Severance Pay Plan

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (b)

  	
   

  	
  Plan Number:

  	
   

  	
  506

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (c)

  	
   

  	
  Plan Sponsor:

  	
   

  	
  United Stationers Supply Co.

  2200 East Golf Road

  Des Plaines, IL 60016-1267

  (847) 699-5000

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (d)

  	
   

  	
  Plan Sponsor’s Employer Identification
  Number:

  	
   

  	
  36-2431718

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (e)

  	
   

  	
  Plan Administrator:

  	
   

  	
  Administrative Committee, Severance Pay Plan

  c/o Benefits Department

  United Stationers Supply Co.

  2200 East Golf Road

  Des Plaines, IL 60016-1267

  (847) 699-5000

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (f)

  	
   

  	
  Agent for Service of Legal Process:

  	
   

  	
  Senior Vice President, General Counsel and
  Secretary

  United Stationers Supply Co.

  2200 East Golf Road

  Des Plaines, IL 60016-1267

  

 

12

 

ATTACHMENT
I

 

United
Stationers Supply Co.

Severance
Pay Plan

 

SAMPLE
SEPARATION AND RELEASE AGREEMENT

 

The Company expressly reserves the right to
designate the terms and conditions, 

as well as to revise, delete and add to this Sample Separation and Release
Agreement.

 

Name of Employee:

Date of this Agreement:

Termination
Date:

Number of Weeks of Severance Payments:

 

This Separation and Release Agreement (this “Agreement”)
is entered into as of the “Date of this Agreement” indicated above, by and
between United Stationers Supply Co. on behalf of itself, its predecessor,
successors, parents, subsidiaries, divisions, assigns, affiliates and all of
its present and former officers, trustees, directors, employees, agents,
attorneys and representatives (collectively, the “Company”), and the individual
whose name is set forth above, on behalf of him or herself and his or her
agents, spouse, dependents, assignees, attorneys, executors, heirs and
representatives (“Employee”), and is intended to set forth all the rights,
duties, obligations and concessions of the parties.  In consideration of the mutual promises
contained in this Agreement and other lawful and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties agree as
follows:

 

1.  Termination.  Employee and the Company agree that Employee’s
last day of employment with the Company will be the “Termination Date”
indicated above.  Employee shall continue to be paid at his or
her regular base salary in effect on the Date of this Agreement until the
Termination Date.  Employee will receive
payment for any vacation that is earned, but unused, as of the Termination
Date, at the Employee’s base salary rate.

 

2.  Consideration.  As consideration for the release and the
other promises contained in this Agreement, the Company will provide Employee
with the following compensation:

 

A.                                   Severance Pay.

 

B.                                     Career Transition Assistance.

 

3.  COBRA
Continuation. The Company will notify Employee of his or her
rights under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”).  In the event he or she elects COBRA, Employee
will be responsible for submitting his or her contributions, as indicated in
the COBRA correspondence that Employee will receive.  Employee’s participation in any and all
Company benefit programs shall end on the Termination Date set forth above.

 

4.  No
Further Entitlements. 
Employee agrees that he or she has been paid and received all
compensation, pay and benefits from the Company to which he or she is entitled
under federal, state of local wage and hour, or other law.  In the event Employee is unemployed at the
time the Severance Payments (identified in this Agreement) have terminated, and
assuming Employee accurately and honestly submits a claim for unemployment
compensation to which he or she is eligible to receive, the Company agrees at
that time not to contest Employee’s claim for unemployment compensation.  Employee understands and acknowledges he or
she has no

 

13

 

further entitlements, other than those
included in this Agreement and except with respect to rights, if any, that have
vested as of the Termination Date under the Company’s benefit plans.  Employee also acknowledges that he or she has
suffered no known workplace injury for which Employee has not already filed a
workers’ compensation claim.

 

5.  Expense
Reports and Return of Company Property.    Employee agrees that no later than the
Termination Date, Employee shall submit all expense reports that he or she owes
the Company for expenses he or she has incurred.  Upon submission of proper receipts, the
Company agrees to reimburse Employee for any business expenses he or she
incurred and paid on behalf of the Company per Company policy.  Employee further confirms that he has
returned on the Date of this Agreement all Company property, including but not
limited to, computer and communications equipment, keys, security access and
credit cards.  Employee further agrees to
return all corporate documents, handbooks, policy manuals, records, documents,
notes and materials (in paper and electronic form), no later than one week from
the Date of this Agreement.

 

6.  Nonadmission.  Employee agrees that the Company’s payment or
offer of payment under this Agreement and the release herein shall not be
construed as an admission of any liability on the part of the Company for a
violation of any federal, state or local statute, executive order or other
source of law.

 

7.  Nondisparagement.  Employee agrees that he or she will not at
any time make any false statements about the Company or make any statements,
whether verbal or written, that disparage or impair the reputation, good will
or commercial interests of the Company.

 

8.  Release.  Employee releases, acquits and forever
discharges the Company from any and all claims, actions or combinations of
claims and actions of any kind, at law or in equity, before judicial,
administrative or arbitrational tribunals, which have arisen or may arise, in
common law or equity, relating to Employee’s employment with or termination
from the Company, including but not limited to claims for severance pay,
attorney fees, and/or any alleged violations of any federal, state, or local
civil rights statutes including but not limited to Title VII of the Civil
Rights Act of 1964, as amended, the Civil Rights Act of 1866, the Civil Rights
Act of 1871, the Civil Rights Act of 1991, the Pregnancy Discrimination Act,
the Equal Pay Act of 1963, the Employee Retirement Income Security Act of 1974,
the American with Disabilities Act and the Rehabilitation Act of 1973, the
Family and Medical Leave Act, the Worker Retraining Notification Act, the
Illinois Human Rights Act, or any other federal or state statute, local
ordinance or common law pertaining or relating in any manner to the Employee’s
employment with the Company or termination from employment with the Company,
other than for the performance of this Agreement, challenges to the validity of Employee’s waiver of rights pursuant to the
Age Discrimination in Employment Act, and vested rights under any of the
Company benefit plans in accordance with their terms.  Further, Employee agrees that this release is
made voluntarily, knowingly and without coercion.

 

[Note:  Add any
additional references to specific state laws].

 

EMPLOYEE UNDERSTANDS THAT THIS GENERAL WAIVER AND
RELEASE AGREEMENT INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS TO THE
DATE OF THIS AGREEMENT.

 

9.  Resignation.
Employee resigns all officer and director positions he or she may hold in the
Company and in any other company for which Employee serves as an officer or
director at the request of the Company, all effective as of the Employee’s
Termination Date.  Employee agrees to
execute and deliver appropriate formal letters confirming resignation to each
affected company upon the Company’s request. 
Employee further agrees to execute expeditiously or sign, without fee or
charge therefore, any other document necessary or convenient for the conduct of
the Company’s business that the Company shall reasonably request Employee to
execute.

 

14

 

11.  Confidentiality of Agreement. 
Employee agrees that the terms of this Agreement, including but not
limited to issues concerning Employee’s employment separation, the terms of
this Agreement, or the fact that Employee received monies under this Agreement,
are confidential.  Employee covenants and
promises not to disclose any of the terms of this Agreement to any third party
with the exception of his or her spouse, financial or legal advisors or except
as required by law.  If Employee
discloses the terms and conditions of this Agreement to a permitted third
party  identified in this Paragraph 11,
Employee will inform such person that further disclosure is prohibited.

 

12.  Company Confidential Information.  Following the Date of this Agreement,
Employee shall not, directly or indirectly, disseminate, make available or disclose
any confidential information or proprietary data of the Company, unless and
only to the extent such any release or disclosure is required by any court or
administrative agency (and then only after prompt notice to the Company to
permit the Company to seek a protective order).  For purposes of this Agreement, “confidential
information or proprietary data” means information and data prepared, compiled,
or acquired by or for Employee during or in connection with Employee’s
employment by the Company (including, without limitation, information belonging
to or provided in confidence by any customer, supplier, trading partner or
other person or entity to which Employee had access by reason of Employee’s
employment with the Company) which is not generally known by and available to
the public or which could be harmful to the Company if disclosed to persons
outside of the Company.  Such
confidential information or proprietary data may exist in any form, tangible or
intangible, or media (including any information technology-related or
electronic media) and includes, but is not limited to, the following
information of or relating to the Company or any of its customers or suppliers:

 

A.           Business, financial and strategic
information, such as sales and earnings information and trends, material,
overhead and other costs, profit margins, accounting information, banking and
financing information, pricing policies, capital expenditure/ investment plans
and budgets, forecasts, strategies, plans and prospects.

 

B.             Organizational and operational
information, such as personnel data (including, but not limited to compensation
data), performance evaluation or succession planning information, data
regarding compensation or benefit programs, plans or strategies, information
concerning the utilization or capabilities of personnel, facilities or
equipment, logistics management techniques, methodologies and systems, methods
of operation data and facilities plans.

 

C.             Advertising, marketing and sales
information, such as marketing and advertising data, plans, programs,
techniques, strategies, results and budgets, pricing and volume strategies,
catalog, licensing or other agreements or arrangements, and market research and
forecasts and marketing and sales training and development courses, aids,
techniques, instruction and materials.

 

D.            Product and merchandising information, such
as information concerning offered or proposed products or services and the
sourcing of the same, product or services specifications, data, drawings,
designs, performance characteristics, features, capabilities and plans and
development and delivery schedules.

 

E.              Information about existing or prospective
customers or suppliers, such as customer and supplier lists and contact
information, customer preference data, purchasing habits, authority levels and
business methodologies, sales history, pricing and rebate levels, credit
information and contracts.

 

F.              Technical information, such as
information regarding plant and equipment organization, performance and design,
information technology and logistics systems and related designs, integration,
capabilities, performance and plans, computer

 

15

 

hardware and software, research and development objectives, budgets and
results, intellectual property applications, and other design and performance
data.

 

13.  Contractual
Capacity.  Employee agrees
and acknowledges that he or she has entered into this Agreement knowingly and
voluntarily and without undue pressure or duress. By signing this Agreement,
Employee states that he or she:

 

A.                                   has
read it fully and understands the Agreement’s terms and conditions;

 

B.                                     has
been advised to consult with an attorney of his or her own choice prior to
executing this Agreement;

 

C.                                     has
waived any legal claim or any right to bring a lawsuit against the Company
based on any actions taken by the Company up to the date of the signing of this
Agreement;

 

D.                                    is
not waiving or releasing any rights or claims that may arise after the date he
or she signed this Agreement;

 

E.                                      has
received adequate consideration for the waivers contained in this Agreement in
the form of money and other benefits in addition to that which he or she is
already entitled to receive.

 

14.  Cooperation
With Company.  Employee
will be available after the Termination Date to assist with any matters
pertaining to the Company as reasonably requested and at mutually convenient
and reasonable times and locations.

 

15.  Entire
Agreement.  This Agreement
contains all the terms and conditions agreed upon by the parties and supersedes
any prior agreement between the parties regarding Employee’s separation from
employment with the Company.  No
provision of this Agreement may be altered, modified and/or cancelled except
upon the express written consent of the parties.

 

16.  Severability.  If any provision is held to be overbroad,
invalid or unenforceable, such provision shall be deemed deleted and replaced
by a valid, legal and enforceable provision which so far as possible achieves
the parties’ intent in agreeing to the original provision and the remaining
terms of this Agreement shall continue in full force and effect.

 

17.  Governing
Law.  This Agreement shall
be governed and construed in accordance with the laws of the State of Illinois.

 

18.  Effective
Date.  The Agreement shall
become effective, as of the Date of this Agreement, once Employee has signed
and dated the Agreement (below).

 

 

	
  Employee

  	
  United Stationers Supply Co.

  
	
   

  	
   

  
	
  Signature:

  	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  
	
  Printed Name:

  	
   

  	
   

  	
  Printed Name:

  	
   

  	
   

  
	
   

  	
   

  
	
  Signature Date:

  	
   

  	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Signature Date:

  	
   

  	
   

  
												

 

16EHIBIT 10.1

 

ASSET
PURCHASE AGREEMENT

 

DATED AS
OF

 

NOVEMBER
3, 2004

 

BY AND
BETWEEN

 

BPT IP
LLC

 

AND

 

HARDINGE,
INC.

 

 

TABLE OF
CONTENTS

 

	
  DESCRIPTION

  	
   

  
	
   

  	
   

  
	
  ARTICLE I - DEFINITIONS

  	
   

  
	
   

  	
  Section 1.1

  	
  Definitions

  	
   

  
	
   

  	
  Section 1.2

  	
  Construction

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE II - PURCHASE AND SALE OF ASSETS AND
  ASSUMPTION OF LIABILITIES

  	
   

  
	
   

  	
  Section 2.1

  	
  Purchase of Assets and Assumption of Liabilities

  	
   

  
	
   

  	
  Section 2.2

  	
  Purchased Assets

  	
   

  
	
   

  	
  Section 2.3

  	
  Excluded Assets

  	
   

  
	
   

  	
  Section 2.4

  	
  Excluded Liabilities

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE III - PURCHASE PRICE AND CLOSING

  	
   

  
	
   

  	
  Section 3.1

  	
  Closing

  	
   

  
	
   

  	
  Section 3.2

  	
  Purchase Price

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE IV - REPRESENTATIONS AND WARRANTIES
  OF SELLER

  	
   

  
	
   

  	
  Section 4.1

  	
  Organization

  	
   

  
	
   

  	
  Section 4.2

  	
  Authorization of Transaction

  	
   

  
	
   

  	
  Section 4.3

  	
  Noncontravention; Consents

  	
   

  
	
   

  	
  Section 4.4

  	
  Permits

  	
   

  
	
   

  	
  Section 4.5

  	
  Intellectual Property

  	
   

  
	
   

  	
  Section 4.6

  	
  Litigation

  	
   

  
	
   

  	
  Section 4.7

  	
  Legal Compliance

  	
   

  
	
   

  	
  Section 4.8

  	
  Contracts

  	
   

  
	
   

  	
  Section 4.9

  	
  Brokers’ Fees

  	
   

  
	
   

  	
  Section 4.10

  	
  No Operations

  	
   

  
	
   

  	
  Section 4.11

  	
  Title

  	
   

  
	
   

  	
  Section 4.12

  	
  LIMITATION ON WARRANTIES

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE V - REPRESENTATIONS AND WARRANTIES OF
  BUYER

  	
   

  
	
   

  	
  Section 5.1

  	
  Organization

  	
   

  
	
   

  	
  Section 5.2

  	
  Authorization of Transaction

  	
   

  
	
   

  	
  Section 5.3

  	
  Noncontravention; Consents

  	
   

  
	
   

  	
  Section 5.4

  	
  Litigation

  	
   

  
	
   

  	
  Section 5.5

  	
  Availability of Funds

  	
   

  
	
   

  	
  Section 5.6

  	
  Brokers’ Fees

  	
   

  
	
   

  	
  Section 5.7

  	
  LIMITATION ON THE SELLER’S WARRANTIES

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE VI - COVENANTS

  	
   

  
	
   

  	
  Section 6.1

  	
  General

  	
   

  
	
   

  	
  Section 6.2

  	
  Post-Closing Consents

  	
   

  
	
   

  	
  Section 6.3

  	
  Litigation Support

  	
   

  
	
   

  	
  Section 6.4

  	
  Use of Excluded Names

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE VII - CLOSING DELIVERIES

  	
   

  
	
   

  	
  Section 7.1

  	
  Closing Deliveries of the Seller

  	
   

  
	
   

  	
  Section 7.2

  	
  Closing Deliveries of the Buyer

  	
   

  

 

 

	
   

  	
  Section 7.3

  	
  Conditions to Buyer’s Performance

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE VIII - LICENCE BACK OF
  INTELLECTUAL PROPERTY

  	
   

  
	
   

  	
  Section 8.1

  	
   

  	
   

  
	
   

  	
  Section 8.2

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE IX - REMEDIES

  	
   

  
	
   

  	
  Section 9.1

  	
  Survival

  	
   

  
	
   

  	
  Section 9.2

  	
  Indemnification by the Seller

  	
   

  
	
   

  	
  Section 9.3

  	
  Indemnification by the Buyer

  	
   

  
	
   

  	
  Section 9.4

  	
  Procedures for Indemnification

  	
   

  
	
   

  	
  Section 9.5

  	
  Certain Limitations

  	
   

  
	
   

  	
  Section 9.6

  	
  Certain Benefits

  	
   

  
	
   

  	
  Section 9.7

  	
  Treatment of Indemnity Payments

  	
   

  
	
   

  	
  Section 9.8

  	
  Exclusive Remedy

  	
   

  
	
   

  	
  Section 9.9

  	
  Mitigation

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE IX - MISCELLANEOUS

  	
   

  
	
   

  	
  Section 10.1

  	
  Notices

  	
   

  
	
   

  	
  Section 10.2

  	
  Expenses; No Offset

  	
   

  
	
   

  	
  Section 10.3

  	
  Disclosure Schedules

  	
   

  
	
   

  	
  Section 10.4

  	
  Publicity

  	
   

  
	
   

  	
  Section 10.5

  	
  SEC Filing

  	
   

  
	
   

  	
  Section 10.6

  	
  Transfer Taxes; Bulk Sales or Transfer Laws

  	
   

  
	
   

  	
  Section 10.7

  	
  Assignment; Successors and Assigns

  	
   

  
	
   

  	
  Section 10.8

  	
  Amendment; Waiver

  	
   

  
	
   

  	
  Section 10.9

  	
  Severability; Specific Performance

  	
   

  
	
   

  	
  Section 10.10

  	
  Counterparts

  	
   

  
	
   

  	
  Section 10.11

  	
  Descriptive Headings

  	
   

  
	
   

  	
  Section 10.12

  	
  No Third-Party Beneficiaries

  	
   

  
	
   

  	
  Section 10.13

  	
  Entire Agreement

  	
   

  
	
   

  	
  Section 10.14

  	
  Exhibits and Schedules

  	
   

  
	
   

  	
  Section 10.15

  	
  Governing Law

  	
   

  

 

ii

 

	
  EXHIBITS:

  	
   

  
	
   

  	
   

  	
   

  
	
  Exhibit A

  	
  Bill of Sale and Assignment and Assumption
  Agreement

  	
   

  
	
  Exhibit B

  	
  Assignment of Patent

  	
   

  
	
  Exhibit C

  	
  Assignment of Trademarks

  	
   

  
	
   

  	
   

  	
   

  
	
  DISCLOSURE
  SCHEDULES:

  	
   

  
	
   

  	
   

  	
   

  
	
  Schedule 1.1

  	
  Knowledge of Sellers

  	
   

  
	
  Schedule 2.2(a)(i)

  	
  Purchased Patents

  	
   

  
	
  Schedule 2.2(a)(ii)

  	
  Purchased Trademarks

  	
   

  
	
  Schedule 2.2(a)(iii)

  	
  Purchased Copyrights

  	
   

  
	
  Schedule 2.2(b)

  	
  Purchased Contracts

  	
   

  
	
  Schedule 2.3

  	
  Excluded Assets

  	
   

  
	
  Schedule 4.3

  	
  Noncontravention; Consents

  	
   

  
	
  Schedule 4.5

  	
  Intellectual Property

  	
   

  
	
  Schedule 4.6

  	
  Litigation

  	
   

  
	
  Schedule 4.7

  	
  Legal Compliance

  	
   

  
	
  Schedule 4.9

  	
  Broker’s Fees

  	
   

  

 

iii

 

ASSET
PURCHASE AGREEMENT

 

This ASSET
PURCHASE AGREEMENT (this “Agreement”) dated as of November 3, 2004 is
made by and between BPT IP LLC, a Delaware limited liability company (the “Seller”),
and  HARDINGE, INC., a New York  corporation (the “Buyer”).

 

WHEREAS, the
Seller owns and holds certain Contracts and intellectual property assets for
the use of certain of its Affiliates.

 

WHEREAS, Hardinge
Machine Tools Limited (“HTML”), an English company and Affiliate of the Buyer,
is simultaneously entering into an Asset Sale  Agreement
(the “British Asset Sale Agreement”) with Bridgeport Machines Limited (“BML”),
an English  company and Affiliate of the
Seller and its administrative receivers, to purchase certain assets from BML
for a purchase price of US$4,464,778 (the “British Transaction”).

 

WHEREAS, this
Agreement contemplates a transaction in which the Buyer will acquire certain
Contracts and Intellectual Property assets of the Seller on the terms and
conditions set forth herein.

 

NOW, THEREFORE, in
consideration of the foregoing and the mutual agreements contained herein, and
for other good and valuable consideration, the value, receipt and sufficiency
of which are acknowledged, the Parties hereby agree as follows:

 

ARTICLE I

DEFINITIONS

 

Section
1.1            Definitions. 
For purposes of this Agreement, the following terms have the meanings set
forth below:

 

“Affiliates”
has the meaning set forth in Rule 12b-2 of the regulations promulgated under
the Securities Exchange Act of 1934, as amended.

 

“Agreement”
has the meaning set forth in the Preamble.

 

 

“Ancillary
Documents” means the Bill of Sale and Assignment and Assumption Agreement,
the Assignment of Patent, the Assignment of Trademarks and each certificate and
other document to be delivered pursuant to Article VII.

 

“Assignment of
Patents” has the meaning set forth in Section 7.1(b).

 

“Assignment of
Trademarks” has the meaning set forth in Section 7.1(c).

 

“Basket Amount”
has the meaning set forth in Section 9.2(b).

 

“Bill of Sale
and Assignment and Assumption Agreement” has the meaning set forth in Section 7.1(a).

 

“BML” has
the meaning set forth in the Preamble.

 

1

 

“British Asset
Sale Agreement” has the meaning set forth in the Preamble.

 

“British
Transaction” has the meaning set forth in the Preamble.

 

“Buyer” has
the meaning set forth in the Preamble.

 

“Buyer Claims”
has the meaning set forth in Section 9.2(a).

 

“Buyer
Indemnified Party” has the meaning set forth in Section 9.2(a).

 

“Buyer Material
Adverse Effect” has the meaning set forth in Section 5.1.

 

“Ceiling Amount”
has the meaning set forth in Section 9.2(b).

 

“Claims”
has the meaning set forth in Section 9.3(a).

 

“Closing Date”
has the meaning set forth in Section 3.1.

 

“Closing”
has the meaning set forth in Section 3.1.

 

“Contract”
means an agreement, commitment or other binding obligation to which the Seller
is a party in connection with the Purchased Assets.

 

“Disclosure
Schedules” means all of the disclosure schedules accompanying this
Agreement.

 

“Excluded
Assets” has the meaning set forth in Section 2.3.

 

“Excluded
Liabilities” has the meaning set forth in Section 2.5.

 

“Excluded Names”
means BPT IP, LLC, and any derivations thereof.

 

“Governmental
Entity” means the United States, any state or other political subdivision
thereof and any other foreign or domestic entity exercising executive,
legislative, judicial, regulatory or administrative functions of or pertaining
to government, including any government authority, agency, department, board,
commission, court, tribunal or instrumentality of the United States or any
foreign entity, any state of the United States, or any political subdivision of
any of the foregoing.

 

“Indemnified
Party” has the meaning set forth in Section 9.4(a).

 

“Indemnifying
Party” has the meaning set forth in Section 9.4(a).

 

“Intellectual
Property” has the meaning set forth in Section 2.2(a).

 

“Law” means
any applicable federal, state, local or foreign  law,
statute, rule, regulation, ordinance, permit, order, writ, injunction, judgment
or decree of any Governmental Entity.

 

“Lien”
means any lien, pledge, security interest, charge, claim or other encumbrance.

 

2

 

“Losses”
means any losses, damages, penalties, fines, costs and expenses (including
reasonable and documented attorneys’ and accountants’ fees and disbursements).

 

“Material
Adverse Effect” means a material adverse effect on the value of the
Purchased Assets taken as a whole (and for these purposes a series of related
effects shall be considered as one “effect”) ; provided, however, that “Material
Adverse Effect” shall not include any of the following: (a) changes in
securities markets or general economic, regulatory or political conditions in
the United States not uniquely related to the Seller (including terrorism or
the escalation of any war whether declared or undeclared or other hostilities),
(b) changes or effects arising out of, or attributable to, the announcement of
the execution of this Agreement, the consummation of the transactions
contemplated hereby or the identity of the Buyer or (c) effects due to changes
in any Laws affecting the Purchased Assets.

 

“Parties”
means the Seller and the Buyer together, and “Party” means the Seller or
the Buyer individually, as the case may be.

 

“Permits”
means any license, permit, franchise, certificate of authority or order, or any
waiver of the foregoing, issued by any Governmental Entity.

 

“Permitted
Encumbrances” means any (a) mechanics’, materialmens’ and similar Liens
with respect to amounts not yet due and payable, (b) Liens for Taxes not yet
due and payable or the validity of which is being contested in good faith by
appropriate proceedings, and (c) such other encumbrances or imperfections in or
failure of title which would not reasonably be expected to have a Material
Adverse Effect.

 

“Person”
means an individual, partnership, corporation, limited liability company,
association, joint stock company, trust, joint venture, unincorporated
organization or Governmental Entity.

 

“Purchase Price”
has the meaning set forth in Section 3.2.

 

“Purchased
Assets” has the meaning set forth in Section 2.2.

 

“Schedule”
means a schedule to this Agreement that is contained in the Disclosure
Schedules and incorporated herein pursuant to Section 12.12.

 

“Seller”
has the meaning set forth in the Preamble.

 

“Seller Claims”
has the meaning set forth in Section 9.3(a).

 

“Seller
Indemnified Parties” has the meaning set forth in Section 9.3(a).

 

“Seller’s
Knowledge” means the actual knowledge of the individuals listed on Schedule
1.1.

 

“Tax” or “Taxes”
means a tax or taxes of any kind or nature, however denominated.

 

“Third Party
Claim” has the meaning set forth in Section 9.4(a).

 

3

 

Section 1.2            Construction.

 

(a)           For purposes of this Agreement,
whenever the context requires, the singular number will include the plural, and
vice versa, the masculine gender will include the feminine and neuter genders,
the feminine gender will include the masculine and neuter genders, and the
neuter gender will include masculine and feminine genders.

 

(b)           As used in this Agreement, the words “include”
and “including,” and variations thereof, will not be deemed to be terms of
limitation, but rather will be deemed to be followed by the words “without
limitation.”

 

(c)           Except as otherwise indicated, all
references in this Agreement to “Sections” and “Exhibits” are
intended to refer to Sections and Exhibits to this Agreement.

 

(d)           As used in this Agreement, the terms “hereof,”
“hereunder,” “herein” and words of similar import will refer to this Agreement
as a whole and not to any particular provision of this Agreement.

 

(e)           Each Party hereto has participated in
the drafting of this Agreement, which each Party acknowledges is the result of
extensive negotiations between the parties. 
Consequently, this Agreement will be interpreted without reference to
any rule or precept of law that states that any ambiguity in a document be
construed against the drafter.

 

ARTICLE II

PURCHASE AND SALE OF ASSETS AND ASSUMPTION

OF LIABILITIES

 

Section 2.1            Purchase of Assets and
Assumption of Liabilities.  On
the terms and subject to the conditions set forth in this Agreement, at the
Closing, the Buyer will purchase from the Seller, and the Seller will sell,
transfer, assign, convey and deliver to the Buyer, the Purchased Assets.

 

Section 2.2            Purchased Assets.  The “Purchased Assets” are
all of the right, title and interest, as the same may exist on the Closing
Date, that the Seller possesses and has the right to transfer in and to the
following:

 

(a)           intellectual and proprietary property
of the Seller which is owned, used or held for use (other than the Excluded
Assets), by the Seller as it exists in any jurisdiction (the “Intellectual
Property”), including, without limitation, the following:

 

(i)            United States and foreign patents, patent
applications and other patent rights (including, without limitation, any
divisions, continuations, continuations-in-part, renewals, substitutions or
reissues thereof, whether or not patents are issued on any such applications
and whether or not any such applications are amended, modified, withdrawn or
re-filled), and improvements thereto, including the patents and patent
applications set forth on Schedule 2.2(a)(i);

 

4

 

(ii)           United States, state and foreign
trademarks, service marks, trade dress, trade names, brand names, Internet
domain names, websites or web pages, designs, logos, and corporate names
(including, in each case, the goodwill associated therewith), whether
registered or unregistered, and all registrations and applications or
registration thereof, including the trademarks and trademark registrations set
forth on Schedule 2.2(a)(ii);

 

(iii)          United States and foreign copyrights,
whether registered or unregistered, including all renewals and extensions
thereof, copyright registrations and applications for registration thereof,
including the copyrights and copyright registrations set forth on Schedule
2.2(a)(iii);

 

(iv)          computer software programs and
software systems, including, without limitation, all databases, compilations,
tool sets, compilers, related source codes, object code, and any other code in
human readable form, and all documentation related thereto;

 

(v)           trade secrets, including, without
limitation, all confidential designs, research and development information,
technical information, specifications, operating and maintenance manuals,
methods, technology, engineering data and drawings, ideas, concepts, know-how,
processes, proprietary data, formulae, algorithms, customer lists, mailing
lists, business plans, mask words, inventions and discoveries, industrial
designs and other proprietary information, whether or not patentable or subject
to copyright, mask work, or other similar protection;

 

(vi)          all licenses, sublicenses, and other
agreements or permissions related to the property described in Clause (i)
through Clause (v);

 

(vii)         The rights to sue for, and remedies
against, past, present, and future misappropriations and infringements thereof,
and the rights of priority and protection of interests therein under applicable
laws and all documentation that embodies or relates to the property described
in Clause (i) through Clause (v);

 

(b)           those Contracts specifically set
forth on Schedule 2.2(b); and

 

(c)           All other assets of Seller, tangible
or intangible, except as specifically set forth on Schedule 2.3.

 

Section 2.3            Excluded Assets.  The Purchased Assets will include all assets
of Seller other than those described in Schedule 2.3.  The Seller or one of its Affiliates will
retain all of its right, title and interest in and to, and will not sell,
transfer, assign, convey or deliver to the Buyer, and the Purchased Assets will
not include, the “Technical Information”, as that term is defined in the
alliance agreement by and between Seller and Buyer and dated as of the date
hereof.

 

Section 2.4            Excluded Liabilities.  The Buyer will not assume or become
responsible for, and will not be deemed to have assumed or to have become
responsible for, any liability or obligation arising out of or related to (a)
any Excluded Asset or (b) the ownership, use or operation of the Assets prior
to the Closing Date (together, the “Excluded Liabilities”).   The

 

5

 

Buyer acknowledges and
agrees that theBuyer shall assume and is responsible for any liability or
obligation arising out of or related to the ownership, use or operation of the
Assets after the Closing Date.

 

ARTICLE III

PURCHASE PRICE AND CLOSING

 

Section 3.1            Closing.  The closing of the transactions contemplated
by this Agreement (the “Closing”) shall occur concurrent with the
execution of this Agreement, unless another date is agreed upon in writing by
the Parties hereto or on such other date as the Parties may agree.  The date on which the Closing actually occurs
shall be referred to as the “Closing Date”.

 

Section 3.2            Purchase Price.  On the terms and subject to the conditions
set forth in this Agreement, at the Closing, the Buyer will pay and deliver to
the Seller $6,500,000 (the “Purchase Price”), in cash by wire transfer
of immediately available funds to an account or accounts designated by the
Seller.

 

ARTICLE IV

REPRESENTATIONS AND WARRANTIES OF SELLER

 

The Seller
represents and warrants as of the date hereof to the Buyer as follows:

 

Section 4.1            Organization.  The Seller is a limited liability company  duly organized, validly existing and in good standing under
the laws of the State of Delaware.  The
Seller is duly qualified or licensed to do business as a foreign corporation
and is in good standing in each jurisdiction where such qualification or
license is required, except where the failure to so qualify or be so licensed
would not reasonably be expected to result in a Material Adverse Effect.  The Seller has all requisite corporate power
and authority to own, hold or otherwise possess, as the case may be, the
Purchased Assets.

 

Section 4.2            Authorization of
Transaction.  The Seller has
all requisite corporate power and authority to execute, deliver and perform
this Agreement and each of the Ancillary Documents to which it is a party.  This Agreement constitutes, and each of the
Ancillary Documents when executed and delivered by the Seller will constitute a
valid and legally binding obligation of the Seller (assuming that this
Agreement and such Ancillary Documents constitute valid and legally binding
obligations of the other parties thereto), enforceable in accordance with its
terms and conditions, except as enforceability may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer and
similar Laws of general applicability relating to or affecting creditors’
rights, or by general equity principles, including principles of commercial
reasonableness, good faith and fair dealing.

 

Section 4.3            Noncontravention;
Consents.

 

(a)           Except (i) for filings to be made
with the United States Patent, Trademark and Copyright offices (or their
respective foreign equivalents, if necessary) in connection with the
registration and/or transfer of Intellectual Property or (ii) as set forth on Schedule 4.3,
the execution and delivery by the Seller of this Agreement and the Ancillary
Documents to which it is a party, and the consummation by the Seller of the
transactions contemplated hereby and

 

6

 

thereby, do not:
(i) to the Seller’s Knowledge, violate any material applicable Law to
which the Purchased Assets are subject; (ii) conflict with or result in a
breach of any provision of the certificate of formation or operating agreement
of the Seller; (iii) create a breach, default, termination, cancellation
or acceleration of any obligation of the Seller pursuant to any Contracts,
which would reasonably be expected to have a Material Adverse Effect; or
(iv) result in the creation or imposition of any Lien, other than a
Permitted Encumbrance, upon the Purchased Assets.

 

(b)           Except as set forth on Schedule 4.3,
no notices, Permits, consents, approvals, authorizations, qualifications or
orders of Governmental Entities or third parties are required for the
consummation by the Seller of the transactions contemplated hereby or by the
Ancillary Documents, other than such of the foregoing that, if not obtained or
made, would not reasonably be expected to have a Material Adverse Effect or
have a material adverse effect upon the Seller’s ability to consummate the
transactions contemplated by, and discharge its obligations under, this
Agreement and the Ancillary Agreements.

 

Section 4.4            Permits.  The Seller has obtained or applied for, and
is in compliance with, all Permits that are required by any Governmental Entity
to own, hold or otherwise possess the Purchased Assets, except for such
failures to hold or comply with such Permits that would not reasonably be
expected to have a Material Adverse Effect.

 

Section 4.5            Intellectual Property.

 

(a)           Except as set forth on Schedule
4.5(a), the Seller owns or has the right to use pursuant to license,
sublicense, agreement or permission all of the Intellectual Property.

 

(b)           Except as set forth on Schedule 4.5(b),
to the Seller’s Knowledge, the Purchased Assets do not infringe upon or
otherwise misappropriate in any material respect any intellectual property
rights of third parties, and the Seller has not received, within the past 24
months, any written charge, complaint, claim, demand or notice alleging any
such infringement or misappropriation (including any such claim that the Seller
must license or refrain from using any intellectual property rights of any
third party).  Except as set forth on Schedule 4.5(b),
to the Seller’s Knowledge, no third party is currently infringing upon any of
the Purchased Assets.

 

(c)           The Seller has not transferred
ownership of, or granted any license of or exercise right to use or authorized
the retention of any exclusive rights to use or joint ownership of, any
Purchased Asset, to any other Person, except as set forth on Schedule 4.5(c).

 

(d)           With respect to each item of
Intellectual Property, except as set forth in Schedule 4.5(a): (i) to the
Seller’s Knowledge, the Seller has the sole and exclusive right to bring
actions for infringement, misappropriation, dilution, violation or unauthorized
use of such item, and to the Seller’s Knowledge, there is no basis for any such
action, (ii) to the Seller’s Knowledge, such item is not subject to any
outstanding injunction, judgment, order, decree, ruling or charge, and (iii)
the Seller has not agreed to indemnify any Person for or against any
interference, infringement, misappropriation or other conflict with respect to
such item.

 

Section 4.6            Litigation.  Except as set forth on Schedule 4.6,
there are no legal, administrative, arbitration or other formal proceedings or
governmental investigations pending

 

7

 

or, to the Seller’s
Knowledge, threatened, (a) against the Seller relating to the Purchased Assets
or (b) that question the validity of this Agreement or any of the Ancillary
Documents, or any action taken or to be taken by the Seller in connection with
this Agreement or any of the Ancillary Documents.

 

Section 4.7            Legal Compliance.  Except as set forth on Schedule 4.7,
since January 1, 2003, (a) the Seller, in connection with the Purchased Assets,
has, to the Seller’s Knowledge, complied in all material respects with all
applicable Laws and (b) no action, proceeding, investigation, complaint, demand
or notice has been filed or commenced or, to the Seller’s Knowledge,
threatened, against the Seller alleging any failure to so comply.

 

Section 4.8            Contracts.  To the Seller’s Knowledge, each Contract included
in the Purchased Assets is a valid, binding and enforceable obligation of the
Seller and the other party or parties thereto and is in full force and effect,
except as enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium, fraudulent transfer and similar Laws of general
applicability relating to or affecting creditors’ rights, or by general equity
principles, including principles of commercial reasonableness, good faith and
fair dealing.  Neither the Seller nor, to
the Seller’s Knowledge, any other party to a Contract included in the Purchased
Assets is in breach of any material term of such Contract.

 

Section 4.9            Brokers’ Fees.  Except as set forth on Schedule 4.9,
the Seller has no liability or obligation to pay any fees or commissions to any
broker, finder or agent with respect to the transactions contemplated by this
Agreement.

 

Section 4.10         No Operations.  Since the formation of the Seller, the Seller
has operated only as a holding company for the Purchased Assets and has never
operated as a going concern.

 

Section 4.11         Title. Except
as set forth in Schedule 4.5(a), Seller has good title to all the Purchased
Assets.  The Purchased Assets are free
and clear of all liens, security interests, mortgages, deeds of trust, pledges,
conditional sales contracts, charges, leases, claims, administrative orders or
decrees or encumbrances, except for Permitted Encumbrances and except as
disclosed in Schedule 4.11.   All of the
Purchased Assets are in the possession of Seller.

 

Section 4.12         LIMITATION ON WARRANTIES.  EXCEPT AS EXPRESSLY SET FORTH IN THIS ARTICLE IV,
THE SELLER MAKES NO REPRESENTATION OR WARRANTY OF ANY KIND, EXPRESS OR IMPLIED,
AT LAW OR IN EQUITY, IN RESPECT OF ANY OF THE PURCHASED ASSETS OR OTHERWISE, OR
WITH RESPECT TO ANY INFORMATION PROVIDED TO THE BUYER, INCLUDING WITH RESPECT
TO MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR USE OR PURPOSE.  ALL OTHER REPRESENTATIONS OR WARRANTIES ARE
HEREBY DISCLAIMED.

 

8

 

ARTICLE V

REPRESENTATIONS AND WARRANTIES OF BUYER

 

The
Buyer represents and warrants to the Seller as follows:

 

Section 5.1            Organization.  The Buyer is a corporation  duly organized, validly existing and in good standing under
the laws of the state of New York.  The
Buyer is duly qualified or licensed to do business as a foreign corporation and
is in good standing in each jurisdiction where such qualification or license is
required, except where the failure to so qualify or be so licensed would not
reasonably be expected to adversely affect the Buyer’s ability to consummate
the transactions contemplated by, and discharge its obligations under, this
Agreement and the Ancillary Documents to which it is a party (a “Buyer
Material Adverse Effect”).

 

Section 5.2            Authorization of
Transaction.  The Buyer has
all requisite corporate power and authority to execute and deliver this
Agreement and each of the Ancillary Documents to which it is a party, and to
perform its obligations hereunder and thereunder.  This Agreement constitutes, and each of the
Ancillary Documents executed and delivered by the Buyer constitutes, a valid
and legally binding obligation of the Buyer (assuming that this Agreement and
such Ancillary Documents will constitute valid and legally binding obligations
of the other parties thereto), enforceable in accordance with its terms and
conditions, except as enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium, fraudulent transfer and similar Laws of
general applicability relating to or affecting creditors’ rights or by general
equity principles, including principles of commercial reasonableness, good
faith and fair dealing.

 

Section 5.3            Noncontravention;
Consents.

 

(a)           The execution and delivery by the
Buyer of this Agreement and the Ancillary Documents to which it is a party, and
the consummation by the Buyer of the transactions contemplated hereby or
thereby, do not: (i) violate any Law to which the Buyer is subject, which
would reasonably be expected to have a Buyer Material Adverse Effect
(ii) conflict with or result in a breach of any provision of the
certificate of incorporation or bylaws of the Buyer, or (iii) create a
breach, default, termination, cancellation or acceleration of any obligation under
any contract, agreement or binding commitment to which the Buyer is a party or
by which the Buyer or any of its assets or properties are bound or subject,
which would reasonably be expected to have a Buyer Material Adverse Effect.

 

(b)           Except for filings to be made with
the United States Patent, Trademark and Copyright offices (or their respective
foreign equivalents, if necessary) in connection with the registration and/or
transfer of Intellectual Property, no notices, licenses, Permits, consents,
approvals, authorizations, qualifications or orders of Governmental Entities or
third parties are required for the consummation by the Buyer of the
transactions contemplated hereby or by the Ancillary Documents, other than such
of the foregoing that, if not obtained or made, would not reasonably be
expected to have a Buyer Material Adverse Effect.

 

Section 5.4            Litigation.  There are no legal, administrative,
arbitration or other formal proceedings or governmental investigations pending
or, to the Buyer’s knowledge, threatened,

 

9

 

that question the
validity of this Agreement or any of the Ancillary Documents, or any action
taken or to be taken by the Buyer in connection with this Agreement or any of
the Ancillary Documents, other than such of the foregoing that would not
reasonably be expected to have a Buyer Material Adverse Effect.

 

Section 5.5            Availability of Funds.  The Buyer has funds available to it
sufficient to pay to the Seller the Purchase Price and to perform all of the
Buyer’s obligations pursuant to, and to consummate the transactions
contemplated by, this Agreement and each of the Ancillary Documents to which it
is a party.

 

Section 5.6            Brokers’ Fees.  The Buyer has no liability or obligation to
pay any fees or commissions to any broker, finder or agent with respect to the
transactions contemplated by this Agreement.

 

Section 5.7            LIMITATION ON THE
SELLER’S WARRANTIES.  THE
BUYER HEREBY ACKNOWLEDGES AND AGREES THAT, EXCEPT TO THE EXTENT SPECIFICALLY
SET FORTH IN ARTICLE IV, THE SELLER MAKES NO REPRESENTATION OR
WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, AT LAW OR IN EQUITY, IN RESPECT OF
ANY OF THE PURCHASED ASSETS OR OTHERWISE, OR WITH RESPECT TO ANY INFORMATION
PROVIDED TO THE BUYER, INCLUDING WITH RESPECT TO MERCHANTABILITY OR FITNESS FOR
ANY PARTICULAR PURPOSE OR USE.

 

ARTICLE VI

COVENANTS

 

The Buyer and the
Seller agree to the following with respect to the period following the Closing:

 

Section 6.1            General.  In case at any time after the Closing Date
any further action is reasonably necessary to carry out the purposes of this
Agreement, each of the Parties will take such further action (including the
execution and delivery of such further instruments and documents) as the other
Party reasonably may request, at the sole cost and expense of the requesting
Party (unless otherwise specified herein).

 

Section 6.2            Post-Closing Consents.  The Seller and the Buyer each will use
commercially reasonable efforts after the Closing Date to obtain all consents,
approvals or authorizations of any third parties that are not obtained prior to
the Closing Date and that are required in connection with the transactions
contemplated by this Agreement.

 

Section 6.3            Litigation Support.  In the event and for so long as either Party
is actively contesting or defending against any third party charge, complaint,
action, suit, proceeding, hearing, investigation, claim or demand in connection
with any fact, situation, circumstance, status, condition, activity, practice,
plan, occurrence, event, incident, action, failure to act or transaction
involving the Purchased Assets, the other Party will reasonably cooperate with
the contesting or defending Party and its counsel in the contest or defense,
make available its personnel and provide such testimony and access to its books
and records as may be reasonably requested in connection with the contest or
defense, at the sole cost and expense of the contesting

 

10

 

or defending Party
(unless such contesting or defending Party is entitled to indemnification
therefor under Article IX in which case, the costs and expense will be
borne by the Parties as set forth in Article IX).

 

Section 6.4            Use of Excluded Names.  Except as otherwise expressly provided in
this Section 6.4, no interest in or right to use the Excluded Names
is being assigned, transferred or otherwise conveyed to the Buyer pursuant to
this Agreement.  Neither the Buyer nor
any of its Affiliates will use any Excluded Name, trademark, service mark, brand
name, certification mark, trade name, corporate name, domain name or other
indication of source or origin that is likely to cause confusion with any of
the Excluded Names or be associated with the Seller or any of its Affiliates
after the Closing Date, except as expressly permitted pursuant to this Section 6.4.  The Parties acknowledge and agree that,
pursuant to Section 2.2(a)(ii), the Seller’s interest in the website
www.bpt.com shall transfer to the Buyer and that the Buyer’s use thereof
following Closing shall not constitute a breach of the Buyer’s obligations
under this Section 6.4.

 

ARTICLE VII

CLOSING DELIVERIES

 

Section 7.1            Closing Deliveries of
the Seller.  At the Closing,
the Seller will deliver the following:

 

(a)           a duly executed counterpart of the
bill of sale and assignment and assumption agreement in substantially the form
attached hereto as Exhibit A (the “Bill of Sale and Assignment
and Assumption Agreement”);

 

(b)           a duly executed counterpart of the
assignment of patents in substantially the form attached hereto as Exhibit B
(the “Assignment of Patent”);

 

(c)           a duly executed counterpart of the
assignment of trademarks in substantially the form attached hereto as Exhibit C
(the “Assignment of Trademarks”);

 

(d)           such other instruments of sale,
transfer, conveyance and assignment as the Buyer and its counsel may reasonably
request to vest in the Buyer all of the Seller’s right, title and interest in
and to the Purchased Assets;

 

(e)           duly executed counterparts of all
certificates, instruments and other documents necessary to consummate the
British Transaction; and

 

(f)            Counsel for Seller shall deliver to
Buyer a favorable opinion, dated as of the Closing Date and in form and
substance reasonably satisfactory (including customary assumptions and qualifications)
to Buyer with respect to the matters set forth in sections 4.1, 4.2 and 4.3(a):

 

Section 7.2            Closing Deliveries of
the Buyer.  At the Closing,
the Buyer will deliver the following:

 

(a)           the Purchase Price in cash by wire
transfer of immediately available funds to the account or accounts designated
by the Seller;

 

11

 

(b)           a duly executed counterpart of the
Bill of Sale and Assignment and Assumption Agreement and such other instruments
of assumption as the Seller and its counsel may reasonably request;

 

(c)           a duly executed counterpart of the
Assignment of Patent;

 

(d)           a duly executed counterpart of the
Assignment of Trademarks; and

 

(e)           duly executed counterparts of all
certificates, instruments and other documents necessary to consummate the
British Transaction.

 

Section 7.3            Conditions to Buyer’s
Performance

 

Buyer’s
obligations to purchase and pay the purchase price for the Purchased Assets are
subject to the following express conditions:

 

(a)           The representations and warranties of
Seller contained in this Agreement shall be true and correct on and as of the
Closing Date.

 

(b)           All of the covenants of Seller set
forth herein and which were to be performed at or prior to the Closing Date
shall have been duly performed.

 

(c)           There shall not have been instituted
or threatened, on or before the Closing Date, any action or proceeding before
any court or governmental agency or body, or by a public authority, with
respect to the acquisition of the Purchased Assets as contemplated hereby.

 

(d)           All agreements between Buyer and
another party hereto shall have been fully executed and delivered.  Seller shall have executed and delivered the
General Assignment and Bill of Sale and other instruments provided for herein,
and such other documents, reasonably satisfactory to Buyer’s counsel, as shall
be necessary or appropriate to the transfer of the Purchased Assets to Buyer.

 

(e)           Seller shall have obtained all
required consents or approvals in writing of all parties whose consent or
approval is necessary for the transfer of the Purchased Assets.

 

(f)            Counsel for Seller shall have
delivered to Buyer an opinion of counsel as set forth in Paragraph 7.1(f).

 

ARTICLE VIII

LICENCE BACK OF INTELLECTUAL PROPERTY

 

The Buyer
hereby grants to the Sellers (on behalf of itself and no trust for BML and the
Seller’s other Affiliates), effective upon Closing and expiring on the date
upon which the licence back of intellectual property rights set forth in
section 14 of the British Asset Sale Agreement expires, a non-exclusive,
royalty-free, worldwide right and licence to use the Intellectual Property for
the purposes of the Seller, BML and the Seller’s other Affiliates marketing and
selling any Excluded Assets (as that term is defined in the British Asset Sale
Agreement),

 

12

 

manufacturing
products, fulfilling customer orders placed prior to Closing or selling
products to other customers as a result of the cancellation of any such orders.

 

Section 8.2

 

The Seller’s
rights under the licences contained in subsection 8.2 are personal and may not
be sublicensed, assigned, or otherwise transferred, except with the consent of
the Purchaser and except in the case of any sublicense, assignment of other
transfer of such rights to BML.

 

ARTICLE IX

REMEDIES

 

Section 9.1            Survival.  The representations and warranties of the
Parties contained in this Agreement and in the Ancillary Documents will survive
until the one-year anniversary of the Closing Date.  The covenants or agreements of the Parties
contained in this Agreement and the Ancillary Documents will survive the
Closing indefinitely, except that those covenants and agreements which by their
terms are to be performed or observed for shorter periods will survive until
the expiration of such shorter period. 
Notwithstanding anything to the contrary, no claim may be made with
respect to any representations or warranties under this Agreement or any
Ancillary Document after the expiration of the applicable survival period set
forth in this Section 9.1.

 

Section 9.2            Indemnification by the
Seller.

 

(a)           Subject to the terms and conditions
of this Article IX, the Seller agrees to reimburse, indemnify and hold
harmless the Buyer, its directors, officers, employees, agents, representatives
and its present and future Affiliates (each, a “Buyer Indemnified Party”)
from, against and in respect of any and all Losses incurred by a Buyer
Indemnified Party resulting from, or that exist or arise due to, any of the
following (collectively, “Buyer Claims”):

 

(i)            prior to their expiration in
accordance with Section 9.1, any inaccuracy of any representation
or the breach of any warranty made by the Seller in this Agreement or contained
in any Ancillary Document;

 

(ii)           the nonfulfillment of any covenant or
agreement of the Seller pursuant to this Agreement or any Ancillary Document
(other than the retention of the Excluded Liabilities by the Seller as set
forth in Section 9.2(a)(iii) below); and

 

(iii)          any of the Excluded Liabilities.

 

(b)           Notwithstanding Section 9.2(a),
the obligations of the Seller pursuant to Section 9.2(a)(i) and
9.2(a)(ii) will: (i) not apply to any Buyer Claims until, and then
only to the extent that, the aggregate amount of all Losses incurred by all
Buyer Indemnified Parties exceeds 2% of the Purchase Price  (the
“Basket Amount”); and (ii) be limited to, and will not exceed, the
aggregate amount of 30% of the Purchase Price (the “Ceiling Amount”).

 

13

 

Section 9.3            Indemnification by the
Buyer.

 

(a)           Subject to the terms and conditions
of this Article VIII, the Buyer agrees to reimburse, indemnify and hold
harmless the Seller, its directors, officers, employees, agents,
representatives and its present and future Affiliates (collectively, the “Seller
Indemnified Parties”) from, against and in respect of any and all Losses
incurred by a Seller Indemnified Party resulting from, or that exist or arise
due to, any of the following (collectively “Seller Claims,” and together
with Buyer Claims, the “Claims”):

 

(i)            prior to their expiration in
accordance with Section 9.1, any inaccuracy of any representation
or the breach of any warranty made by the Buyer in this Agreement or in any
Ancillary Document; and

 

(ii)           the nonfulfillment of any covenant or
agreement of the Buyer pursuant to this Agreement or any Ancillary Document.

 

(b)           Notwithstanding Section 9.3(a),
the obligations of the Buyer pursuant to Section 9.3(a)(i) and 9.3(a)(ii)
will: (i) not apply to any Seller Claims until, and then only to the extent
that, the aggregate amount of all Losses incurred by all Seller Indemnified
Parties exceeds the Basket Amount; and (ii) be limited to, and will not exceed,
the Ceiling Amount.

 

Section 9.4            Procedures for
Indemnification.

 

(a)           No party hereto will be liable for
any Claim for indemnification under this Article IX unless written
notice of a Claim for indemnification is delivered by the party seeking
indemnification (the “Indemnified Party”) to the Party from whom
indemnification is sought (the “Indemnifying Party”) prior to the
expiration of the applicable survival period, if any, set forth in Section 9.1.  If any third party notifies the Indemnified
Party with respect to any matter which may give rise to a Claim for indemnification
(a “Third Party Claim”) against the Indemnifying Party under this Article
IX, then the Indemnified Party will notify the Indemnifying Party promptly
thereof in writing and in any event within 15 days after receiving notice from
a third party; provided that no delay on the part of the Indemnified Party in
notifying the Indemnifying Party will relieve the Indemnifying Party from any
obligation hereunder unless the Indemnifying Party is prejudiced thereby.  All notices given pursuant to this Section 9.4
will describe with reasonable specificity the Third Party Claim and the basis
of the Indemnified Party’s Claim for indemnification.  Once the Indemnified Party has given notice
of the Third Party Claim to the Indemnifying Party, the Indemnifying Party will
be entitled to participate therein and, to the extent desired, to assume the
defense thereof with counsel of its choice, provided, however, the Indemnified
Party may participate (but not control) such defense and after notice of its
election to assume the defense thereof, the Indemnifying Party will not be
liable to the Indemnified Party for any legal or other expenses subsequently
incurred by the Indemnified Party in connection with the defense of the Third
Party Claim, other than reasonable costs of investigation, unless the
Indemnifying Party does not actually assume the defense thereof following
notice of such election.  If the
Indemnifying Party does not assume the defense of such Third Party Claim, the
Indemnified Party will have the right to undertake the defense of such Third
Party Claim, by counsel or other representatives of its own choosing, on behalf
of and for the account and risk of the Indemnifying Party (subject to the
limitations on the Indemnifying Party’s obligations to

 

14

 

indemnify otherwise set
forth in this Article IX and to the right of the Indemnifying Party to
assume the defense of or opposition to such Third Party Claim at any time prior
to settlement, compromise or final determination thereof).

 

(b)           Neither the Indemnified Party nor the
Indemnifying Party will consent to the entry or any judgment or enter into any
settlement of any Third Party Claim that might give rise to liability of the
other Party under this Article IX without such Party’s consent, which
will not be unreasonably withheld or delayed. 
If the Indemnifying Party elects to settle any such Third Party Claim,
and the Indemnified Party refuses to consent to such compromise or settlement,
then the liability of the Indemnifying Party to the Indemnified Party will be
limited to the amount offered by the Indemnifying Party in compromise or
settlement.

 

Section 9.5            Certain Limitations.

 

(a)           AN INDEMNIFYING PARTY WILL NOT BE
LIABLE UNDER THIS ARTICLE IX IN RESPECT OF A CLAIM FOR INCIDENTAL,
SPECIAL, PUNITIVE OR CONSEQUENTIAL DAMAGES OF ANY KIND, INCLUDING CONSEQUENTIAL
DAMAGES RESULTING FROM BUSINESS INTERRUPTION OR LOST PROFITS.

 

(b)           The obligations of the Indemnifying
Party to provide indemnification under this Article IX will be
terminated, modified or abated as appropriate to the extent that the underlying
Claim (i) would not have arisen but for a voluntary act that is carried
out at the express written request of, or with the express written approval,
concurrence of or with the knowing assistance of the Indemnified Party,
(ii) is based, in whole or in part, on the negligence, bad faith or
willful misconduct of the Indemnified Party, or (iii) relates to the
inaccuracy or breach of a representation, warranty, covenant or agreement set
forth in this Agreement of which the Indemnified Party had knowledge prior to
the Closing.  For purposes of this Section 9.5,
“voluntary” will mean an act other than any act which is required to be taken
by Law or which, if taken, would constitute prudent business practice.

 

Section 9.6            Certain Benefits.  The amount of any indemnification payable
under this Article IX will be net of (a) any Tax benefits that the
Indemnified Party receives or is entitled to by reason of the Claim giving rise
to the indemnification payment and (b) the receipt of any insurance
proceeds paid or payable to the Indemnified Party under any policies of
insurance covering the Loss giving rise to the Claim.  The Indemnified Party will use commercially
reasonable efforts to collect any such insurance and will account to the
Indemnifying Party therefor.  If, at any
time subsequent to the Indemnified Party receiving an indemnity payment for a
Claim under this Article IX, the Indemnified Party receives payment in
respect of the Loss underlying such Claim through recovery, settlement or
otherwise under or pursuant to any insurance coverage, or pursuant to any
claim, recovery, settlement or payment by or against another Person, the amount
of such payment, less any costs, expenses or premiums incurred directly in
connection therewith, will promptly be repaid by the Indemnified Party to the
Indemnifying Party.

 

Section 9.7            Treatment of Indemnity
Payments.  All indemnification
payments made pursuant to this Agreement will be treated by the Parties as
adjustments to the Purchase Price.

 

15

 

Section 9.8            Exclusive Remedy.  Other than as set forth in Section 9.9,
the remedies provided in this Article IX will be the sole and exclusive
remedies of the Parties for all disputes arising out of or relating to this
Agreement or any Ancillary Document, and will supersede and replace all other
rights and remedies that any of the Parties may have under any Law.

 

Section 9.9            Mitigation.  Each Party agrees to use commercially
reasonable efforts to mitigate any Loss which forms the basis of a Claim
hereunder.

 

ARTICLE X

MISCELLANEOUS

 

Section 10.1         Notices.  Any notice, request, instruction or other
document to be given hereunder will be in writing and delivered personally or
sent by registered or certified mail, postage prepaid, or by facsimile,
according to the instructions set forth below. Such notices will be deemed
given: at the time delivered by hand, if personally delivered; at the time
received if sent by registered or certified mail; and at the time when
confirmation of successful transmission is received by the sending facsimile
machine if sent by facsimile.

 

	
  If to the Seller:

  	
   

  	
  BPT IP LLC

  C/o American Capital Strategies, Inc.

  2 Bethesda Metro Center

  14th Floor

  Bethesda, MD 20814, USA

  

  Attention: 

  Facsimile No.: 

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  If to the Buyer:

  	
   

  	
  HARDINGE, INC.

  1 Hardinge Drive,

  Elmira, NY, 14902-1507, USA

  

  Attention: 

  Facsimile No.: 

  

 

or to such other address
or to the attention of such other party that the recipient party has specified
by prior written notice to the sending party in accordance with the preceding.

 

Section 10.2         Expenses; No Offset.  Except as expressly provided in this
Agreement, each of the Buyer and the Seller, and their respective Affiliates,
will bear its own costs and expenses (including legal, accounting and
investment banking fees and expenses) incurred in connection with this
Agreement and the transactions contemplated hereby, whether or not such
transactions are consummated.  Neither Party
may make any offset against amounts due to the other Party pursuant to this
Agreement, the Ancillary Documents or otherwise.  Without limiting

 

16

 

the foregoing, any
fees or expenses necessary to transfer any Intellectual Property or any
Contract after the Closing Date shall be the sole responsibility of the Buyer.

 

Section 10.3         Disclosure Schedules.  The representations and warranties of the
Seller set forth in this Agreement are made and given subject to the
disclosures contained in the Disclosure Schedules.  The Seller will not be or be deemed to be in
breach of any such representations and warranties (and no claim will lie in
respect thereof) in respect of any such matter so disclosed in the Disclosure
Schedules.  Where only brief particulars
of a matter are set out or referred to in the Disclosure Schedules, or a
reference is made only to a particular part of a disclosed document, full
particulars of the matter and the full contents of the document are deemed to
be disclosed where such brief particulars are reasonably sufficient to place
Purchase on notice.  Inclusion of
information in the Disclosure Schedules will not be construed as an admission
that such information is material to the Seller or the Purchased Assets, taken
as a whole.  The specific disclosures set
forth in the Disclosure Schedules have been organized to correspond to section
references in this Agreement to which the disclosure may be most likely to
relate, together with appropriate cross references when disclosure is
applicable to other sections of this Agreement; provided, however, that any
disclosure in the Disclosure Schedules will apply to and will be deemed to be
disclosed for the purposes of this Agreement generally.  In the event that there is any inconsistency
between this Agreement and matters disclosed in the Disclosure Schedules,
information contained in the Disclosure Schedules will prevail and will be
deemed to be the relevant disclosure.

 

Section
10.4         Publicity 
Except as required by law or applicable regulation, including, but not
limited to, the reporting and disclosure requirements under U.S. securities
laws, and subject to the provisions of section 10.5, none of the parties will
disclose or make public the terms or existence of this Agreement without the
prior written consent of the other parties hereto.  Any public announcement or similar publicity
with respect to this Agreement or the transactions contemplated herein will be
issued, if at all, at such time and in such manner as the parties mutually
agree.  Notwithstanding this Section
10.4, a party may disclose the terms of this Agreement to a third party (the “Potential
Buyer”) with whom it is in good faith negotiations for the proposed acquisition
of Control of such party or of a portion of the business of such party by the
Potential Buyer, provided that three (3) days’ prior written notice has been
provided to the other parties hereto and provided further that such party and
the Potential Buyer have entered into a binding written agreement pursuant to
which the Potential Buyer is required to keep the terms of this Agreement
confidential.

 

Section
10.5         SEC Filing  The
parties acknowledge that the transactions contemplated by this Agreement will
give rise to an obligation upon the Buyer to disclose the terms of this
Agreement pursuant to federal securities laws. 
Hardinge agrees that it will (i) solely with respect to the first filing
of this Agreement with respect to federal securities laws, consult with the
Seller prior to any such disclosure in order to allow the Seller to comment on
the content and form of the proposed disclosure, provided however that the
final form and content of any such proposed disclosure shall be within the sole
discretion of the Buyer, (ii) use good faith efforts to seek and obtain
protective or other confidentiality orders with respect to such of the terms of
this Agreement as the Buyer in its sole discretion determines, (iii) except as required by law or
applicable regulation, including but not limited to the reporting and
disclosure requirements under U.S. securities laws, not disclose, prior
to a written decision by the Securities and Exchange Commission (“SEC”) on any
confidential information request made by the Buyer,

 

17

 

any
specific information that is the subject of such confidential information
request, (iv) except
as required by law or applicable regulation, including but not limited to the
reporting and disclosure requirements under U.S. securities laws,
commencing on the date of the SEC’s written decision on such confidential
information request and ending on the expiration of the period for which the
SEC grants any confidential treatment, not disclose any specific information in
respect of which the SEC grants confidential treatment, and (v) promptly
provide the Seller with a copy of all correspondence to and from the SEC
concerning such confidential information request, including but not limited to
copies of the confidential treatment itself and of the SEC’s written decision
in respect thereof.

 

Section 10.6         Transfer Taxes; Bulk
Sales or Transfer Laws.  The
Buyer will pay all Taxes that are required to be paid in respect of any
transfer, sales, use, recording, value-added or similar Taxes that may be
imposed by reason of the sale, assignment, transfer and delivery of the
Purchased Assets.  The Buyer will timely
file all Tax Returns required to be filed in connection with the payment of
such Taxes.  The Buyer waives compliance
by the Seller with the provisions of any bulk sales laws that may be applicable
to the transactions contemplated by this Agreement.

 

Section 10.7         Assignment; Successors
and Assigns.  Neither this
Agreement nor any of the rights, interests or obligations provided by this
Agreement may be assigned by either Party (whether by operation of Law or
otherwise) without the prior written consent of the other Party.  Subject to the preceding sentence and except
as otherwise expressly provided herein, this Agreement will be binding upon and
inure to the benefit of the Parties hereto and their respective successors and
permitted assigns.

 

Section 10.8         Amendment; Waiver.  This Agreement may be amended by a written
instrument executed and delivered by the Seller and the Buyer.  At any time prior to the Closing, the Parties
may extend the time for performance of or waive compliance with any of the
covenants or agreements of the other Party to this Agreement, and may waive any
breach of the representations or warranties of such other Party.  No agreement extending or waiving any
provision of this Agreement will be valid or binding unless it is in writing
and is executed and delivered by or on behalf of the Party against which it is
sought to be enforced.

 

Section 10.9         Severability; Specific
Performance.  Whenever
possible, each provision of this Agreement will be interpreted in such manner
as to be effective and valid under applicable Law, but if any provision of this
Agreement is held to be prohibited by or invalid under applicable Law, such
provision will be ineffective only to the extent of such prohibition or
invalidity, without invalidating the remainder of this Agreement.  Each Party acknowledges and agrees that the
other Party may be irreparably damaged if any provision of this Agreement is
not performed in accordance with its terms or otherwise is breached.  Accordingly, each Party agrees that the other
Party may be entitled, subject to a determination by a court of competent
jurisdiction, to injunctive relief to prevent any such failure of performance
or breach and to enforce specifically this Agreement and any of the terms and
provisions hereof.

 

Section 10.10       Counterparts.  This Agreement may be executed in two or more
counterparts, each of which will be deemed an original, but all such
counterparts taken together will constitute one and the same Agreement.

 

18

 

Section 10.11       Descriptive Headings.  The descriptive headings of this Agreement
are inserted for convenience only and will not constitute a part of this
Agreement.

 

Section 10.12       No Third-Party
Beneficiaries.  This Agreement
will not confer any rights or remedies upon any Person or entity other than the
Parties hereto, their respective successors and permitted assigns and the Buyer
Indemnified Parties and the Seller Indemnified Parties under Article IX.

 

Section 10.13       Entire Agreement.  This Agreement and the Ancillary Documents
collectively constitute the entire agreement among the Parties and supersede
any prior and contemporaneous understandings, agreements or representations by
or among the parties, written or oral, that may have related in any way to the
subject matter hereof.

 

Section 10.14       Exhibits and Schedules.  The Exhibits and Disclosure Schedules
attached to this Agreement are made a part of this Agreement as if set forth
fully herein.

 

Section 10.15       Governing Law.  THIS AGREEMENT WILL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OFNEW YORK, WITHOUT GIVING
EFFECT TO ANY LAW OR RULE THAT WOULD CAUSE THE LAWS OF ANY JURISDICTION OTHER
THAN THE STATE OF DELAWARE TO BE APPLIED.

 

[REMAINDER OF PAGE
INTENTIONALLY LEFT BLANK]

 

19

 

IN
WITNESS WHEREOF, the Parties hereto have duly executed and delivered this Agreement
on the date first written above.

 

	
   

  	
  BPT IP LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
    /s/
  GORDON O’BRIEN

  	
   

  
	
   

  	
  Name: Gordon O’Brien

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  HARDINGE, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
    /s/
  J. PATRICK ERVIN

  	
   

  
	
   

  	
  Name: J. Patrick Ervin

  
	
   

  	
  Title:President and CEO

  

 

20

 

Exhibit A

BILL OF SALE AND

ASSIGNMENT AND ASSUMPTION AGREEMENT

 

THIS BILL OF SALE AND
ASSIGNMENT AND ASSUMPTION AGREEMENT, made and delivered pursuant to that Asset
Purchase Agreement dated as of the date hereof (the “Asset Purchase Agreement”),
by and between BPT-IP LLC, a Delaware limited liability company (the “Seller”),
and Hardinge, Inc., a New York corporation (the “Buyer”).  Unless otherwise indicated, capitalized terms
used and not defined herein will have the meanings ascribed to such terms in
the Asset Purchase Agreement.

 

In consideration of the mutual agreements
contained herein and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereby agree as
follows:

 

1.             The Seller hereby sells, assigns,
transfers, conveys and delivers to the Buyer, its successors and assigns,
forever, and the Buyer hereby accepts, all right, title and interest in and to
the Purchased Assets effective as of the date hereof.

 

2.             The Seller hereby covenants with
the Buyer, and its successors and assigns, that the Seller and its successors
and assigns will do, execute, acknowledge and deliver, or will cause to be
done, executed, acknowledged and delivered, all such further acts, transfers, assignments
and conveyances, powers of attorney and assurances for the better selling,
transferring, assigning, assuring, conveying and confirming unto the Buyer, its
successors and assigns, all and singular, the Purchased Assets, as the Buyer
and its successors and assigns shall reasonably request.

 

3.             The Buyer hereby covenants with the
Seller, and its successors and assigns, that the Buyer and its successors and
assigns will do, execute, acknowledge and deliver, or will cause to be done,
executed, acknowledged and delivered, all such further acts, transfers,
assignments and conveyances, powers of attorney and assurances for the better
selling, transferring, assigning, assuring, conveying and confirming unto the
Seller, its successors and assigns, all and singular, the Purchased Assets, as
the Seller and its successors and assigns shall reasonably request.

 

4.             This Bill of Sale and Assignment
and Assumption Agreement is subject to all of the representations, warranties,
covenants, exclusions and indemnities set forth in the Asset Purchase
Agreement, all of which are incorporated herein by reference and nothing
contained herein shall be construed to limit, terminate or expand any terms and
conditions contained in the Asset Purchase Agreement.

 

5.             Notwithstanding the foregoing, this
Bill of Sale and Assignment and Assumption Agreement shall not constitute an
assignment or attempted assignment of any agreement if the attempted assignment
thereof, without the consent, approval or waiver of a third party or entity (including
a governmental authority), would constitute a breach thereof or a violation of
any law, rule or regulation.

 

[REMAINDER OF PAGE
INTENTIONALLY LEFT BLANK]

 

 

IN WITNESS WHEREOF, the
undersigned parties have caused this Bill of Sale and Assignment and Assumption
Agreement to be executed on this 3rd day of November, 2004.

 

	
   

  	
  BPT-IP LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ GORDON O’BRIEN

  	
   

  
	
   

  	
  Name:

  	
  Gordon O’Brien

  
	
   

  	
  Its:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  HARDINGE, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ J. PATRICK ERVIN

  	
   

  
	
   

  	
  Name:

  	
  J. Patrick Ervin

  
	
   

  	
  Its:

  	
  President and CEO

  
					

 

 

EXHIBIT B

ASSIGNMENT OF
PATENTS

 

In connection with the
consummation on the date hereof of the transactions contemplated in that Asset
Purchase Agreement dated as of the date hereof (the “Asset Purchase
Agreement”), by and between BPT-IP LLC, a Delaware limited liability
company (the “Assignor”), and HARDINGE, INC., a New York corporation
(the “Assignee”), the Assignor has agreed to transfer all of its rights
in and to all of the patents listed on Exhibit A attached hereto to the
Assignee.

 

NOW, THEREFORE, for good
and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the Assignor does hereby sell, assign and transfer to the
Assignee, and its successors and assigns, all right, title, and interest of the
Assignor in, to, and under the patents listed on Schedule I (which is
incorporated into and made a part of this Assignment of Patents), together with
all rights to sue and recover for any past, present or future infringements,
dilution, damage or injury (and including the right to take over and continue
any and all existing suits) to any of the foregoing and collect profits or
damages with respect to same, the same to be held and enjoyed hereinafter by
the Assignee for its own use and for the use of its successor and assigns, to
the full end of the term for which the Patent was granted, as fully and
entirely as the same when have been held by Assignor had this Assignment not
been made.

 

Assignor hereby covenants
to execute and deliver to Assignee such additional assignments and instruments
of transfer as Assignee may require to evidence Assignee’s ownership of the
Patents or the conveyance of the Patents to Assignee.

 

[REMAINDER OF PAGE
INTENTIONALLY LEFT BLANK]

 

 

IN WITNESS WHEREOF, the
undersigned parties have executed this Assignment as of this 3rd day of
November, 2004.

 

	
   

  	
  BPT-IP LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ GORDON O’BRIEN

  	
   

  
	
   

  	
  Name:

  	
  Gordon O’Brien

  
	
   

  	
  Its:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  HARDINGE, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ J. PATRICK ERVIN

  	
   

  
	
   

  	
  Name:

  	
  J. Patrick Ervin

  
	
   

  	
  Its:

  	
  President and CEO

  
					

 

 

Schedule I

 

	
  Patent

  	
   

  	
  Application No.

  	
   

  	
  Filing Date

  	
   

  
	
  5,672,145

  	
   

  	
  Tool Carousel

  	
   

  	
  09/30/97

  	
   

  

 

 

Exhibit C

ASSIGNMENT OF
TRADEMARKS

 

In connection with the
consummation on the date hereof of the transactions contemplated in that Asset
Purchase Agreement dated as of the date hereof (the “Asset Purchase
Agreement”), by and between BPT-IP LLC, a Delaware limited liability
company (the “Assignor”), and HARDINGE, INC., a New York corporation
(the “Assignee”) (the “Assignee”), the Assignor has agreed to
transfer all of its rights in all of the trademarks listed on Exhibit A
attached hereto to the Assignee (“Trademarks”).

 

NOW, THEREFORE, for good
and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the Assignor does hereby assign, grant and transfer to the
Assignee, and its successors and assigns, all right, title, and interest of the
Assignor in, to, and under the Trademarks and trade names listed on Schedule
I (which is incorporated into and made a part of this Assignment of
Trademarks) together with all of the goodwill of the business symbolized by
such Trademarks and trade names, together with all rights to sue and recover
for any past, present or future infringements, dilution, damage or injury (and
including the right to take over and continue any and all existing suits) to
any of the foregoing and collect profits or damages with respect to any of the
foregoing, the same to be held and enjoyed hereinafter by the Assignee for its
own use and for the use of its successor and assigns.

 

Assignor hereby covenants
to execute and deliver to Assignee such additional assignments and instruments
of transfer as Assignee may require to evidence Assignee’s ownership of the
Trademarks or the conveyance of the Trademarks to Assignee.

 

[REMAINDER OF PAGE
INTENTIONALLY LEFT BLANK]

 

 

IN WITNESS WHEREOF, the
undersigned parties have executed this Assignment as of this 3rd day of
November, 2004.

 

	
   

  	
  BPT-IP LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ GORDON O’BRIEN

  	
   

  
	
   

  	
  Name:

  	
  Gordon O’Brien

  
	
   

  	
  Its:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  HARDINGE, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ J. PATRICK ERVIN

  	
   

  
	
   

  	
  Name:

  	
  J. Patrick Ervin

  
	
   

  	
  Its:

  	
  President and CEO

  
					

 

 

Schedule I

 

International
Trademarks:

 

	
  Country

  	
   

  	
  File No.

  	
   

  	
  Trademark

  	
   

  	
  App.No.

  	
   

  	
  Filing Date

  	
   

  	
  Reg. No.

  	
   

  	
  Reg. Date

  
	
  Australia

  	
   

  	
  TM153-001

  	
   

  	
  BRIDGEPORT

  	
   

  	
  331,297

  	
   

  	
  04/10/1979

  	
   

  	
  5,331,297

  	
   

  	
  09/19/1963

  
	
  Canada

  	
   

  	
  TM153-002

  	
   

  	
  BRIDGEPORT

  	
   

  	
  405,159

  	
   

  	
  01/21/1977

  	
   

  	
  243,145

  	
   

  	
  04/15/1950

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  China

  	
   

  	
  TM163A-010

  	
   

  	
  BRIDGEPORT

  	
   

  	
  950438940

  	
   

  	
  11/05/1995

  	
   

  	
  999,187

  	
   

  	
  05/06/1997

  
	
  China

  	
   

  	
  TM163B-018

  	
   

  	
  BRIDGEPORT

  	
   

  	
  950138941

  	
   

  	
  11/05/1995

  	
   

  	
  1,005,858

  	
   

  	
  05/13/1997

  
	
  European Community

  	
   

  	
  TM153-003

  	
   

  	
  BRIDGEPORT

  	
   

  	
  165836

  	
   

  	
  04/01/1995

  	
   

  	
  166835

  	
   

  	
  10/23/1998

  
	
  European Community

  	
   

  	
  TM248-003

  	
   

  	
  EZ-CAM

  	
   

  	
  165934

  	
   

  	
  04/01/1998

  	
   

  	
  166934

  	
   

  	
  09/11/1995

  
	
  European Community

  	
   

  	
  TM497-003

  	
   

  	
  EZFEATUREMILL

  	
   

  	
  167007

  	
   

  	
  04/01/1995

  	
   

  	
  167007

  	
   

  	
  07/10/1998

  
	
  European Community

  	
   

  	
  TM498-003

  	
   

  	
  EZPATH

  	
   

  	
  156554

  	
   

  	
  04/01/1998

  	
   

  	
  165884

  	
   

  	
  07/10/1995

  
	
  European Community

  	
   

  	
  TM516-005

  	
   

  	
  POWERPATH

  	
   

  	
  335249

  	
   

  	
  07/30/1996

  	
   

  	
  335349

  	
   

  	
  07/30/1996

  
	
  Hong Kong

  	
   

  	
  TM163C-03

  	
   

  	
  BRIDGEPORT

  	
   

  	
  13516/95

  	
   

  	
  10/24/1995

  	
   

  	
  1999/07544

  	
   

  	
  06/14/1999

  
	
  Indonesia

  	
   

  	
  TM153-059

  	
   

  	
  BRIDGEPORT

  	
   

  	
  —

  	
   

  	
  05/21/1979

  	
   

  	
  267294

  	
   

  	
  —

  
	
  Japan

  	
   

  	
  TM163A-004

  	
   

  	
  BRIDGEPORT

  	
   

  	
  35,908/77

  	
   

  	
  06/23/1977

  	
   

  	
  1,741,752

  	
   

  	
  01/23/1995

  
	
  Japan

  	
   

  	
  TM—

  	
   

  	
  BRIDGEPORT

  	
   

  	
  4-11-754

  	
   

  	
  05/07/1992

  	
   

  	
  4220636

  	
   

  	
  12/11/1998

  
	
  Japan

  	
   

  	
  TM248B-004

  	
   

  	
  BRIDGEPORT

  	
   

  	
  4-110755

  	
   

  	
  05/07/1992

  	
   

  	
  4,031,341

  	
   

  	
  07/15/1997

  
	
  Korea, Republic of (Sou

  	
   

  	
  TM153-005

  	
   

  	
  BRIDGEPORT

  	
   

  	
  —

  	
   

  	
  —

  	
   

  	
  70358

  	
   

  	
  07/-/1980

  
	
  Malaysia

  	
   

  	
  TM153-103

  	
   

  	
  BRIDGEPORT

  	
   

  	
  M/52119

  	
   

  	
  04/2-/1979

  	
   

  	
  M/082119

  	
   

  	
  04/24/1979

  
	
  Mexico

  	
   

  	
  TM153C-010

  	
   

  	
  BRIDGEPORT

  	
   

  	
  104,3-9

  	
   

  	
  01/09/1991

  	
   

  	
  495,081

  	
   

  	
  01/0-/1991

  
	
  Mexico

  	
   

  	
  TM153D-010

  	
   

  	
  BRIDGEPORT

  	
   

  	
  104,370

  	
   

  	
  01/09/1991

  	
   

  	
  405,082

  	
   

  	
  02/09/1992

  
	
  Singapore

  	
   

  	
  TM153-040

  	
   

  	
  BRIDGEPORT

  	
   

  	
  79,964

  	
   

  	
  04/19/1979

  	
   

  	
  T79/79964A

  	
   

  	
  01/10/1979

  
	
  Taiwan

  	
   

  	
  TM153-008

  	
   

  	
  BRIDGEPORT

  	
   

  	
  (65)08153

  	
   

  	
  08/17/1977

  	
   

  	
  96,716

  	
   

  	
  02/26/1978

  
	
  United Kingdom

  	
   

  	
  TM153C-019

  	
   

  	
  BRIDGEPORT

  	
   

  	
  2004487

  	
   

  	
  10/31/1994

  	
   

  	
  2004487

  	
   

  	
  08/02/1998

  
	
  United Kingdom

  	
   

  	
  TM248-019

  	
   

  	
  EZ-CAM

  	
   

  	
  1,287,949

  	
   

  	
  10/21/1986

  	
   

  	
  B1287949

  	
   

  	
  10/21/1986

  

 

 

U.S.
Trademarks:

 

	
  Trademark

  	
   

  	
  Serial No.

  	
   

  	
  Filing Date

  	
   

  
	
  BRIDGEPORT
  (and Design)

  	
   

  	
  672,452

  	
   

  	
  1/13/59

  	
   

  
	
  QUILL
  MASTER (and Design)

  	
   

  	
  681,116

  	
   

  	
  6/30/59

  	
   

  
	
  EZ-CAM

  	
   

  	
  1,338,961

  	
   

  	
  6/4/85

  	
   

  
	
  INTERACT

  	
   

  	
  1,361,441

  	
   

  	
  9/24/85

  	
   

  
	
  AIR-FLO

  	
   

  	
  1,424,600

  	
   

  	
  1/13/87

  	
   

  
	
  BRIDGEPORT

  	
   

  	
  1,742,918

  	
   

  	
  12/29/92

  	
   

  
	
  EZ-MILL

  	
   

  	
  1,595,123

  	
   

  	
  5/8/90

  	
   

  
	
  EZ
  PATH-II (and Design)

  	
   

  	
  2,034,307

  	
   

  	
  1/28/97

  	
   

  
	
  EZ-TURN

  	
   

  	
  1,594,029

  	
   

  	
  5/1/90

  	
   

  
	
  POWERPATH

  	
   

  	
  2,086,548

  	
   

  	
  8/5/97

  	
   

  
	
  TORQ-CUT
  TC

  	
   

  	
  2,374,841

  	
   

  	
  8/8/00

  	
   

  

 

Unregistered
Trademarks:

 

1.  DISCOVERY TORQ-CUT 22

2.

3.  EXPLORER

4.  EZPATH

5.  EZTRAK

 

 

Disclosure Schedules

 

These Disclosure Schedules (the “Schedules”),
dated as of November 3, 2004, are being delivered by BPT IP LLC (“Seller”)
to  Hardinge, Inc., a New York
Corporation (“Buyer”), in connection with that certain Asset Purchase
Agreement by and between Seller and Buyer, dated as of the date hereof (the “Agreement”).  Unless the context otherwise requires, all
capitalized terms used and not otherwise defined herein have the meanings
assigned to them in the Agreement.

 

The Schedules are qualified in their entirety by
reference to the specific provisions of the Agreement and are not intended to
constitute, and will not be construed as constituting, additional
representations and warranties of Seller. 
The specific disclosures set forth in the Schedules have been organized
to correspond to section references in the Agreement to which the disclosure
may be most likely to relate, but such disclosure will apply to and will be
deemed to be disclosed for purposes of the Agreement generally, and will be
deemed to be exceptions to or modifications or qualifications of all of the
representations and warranties contained in the Agreement to the extent
reasonable.

 

1

 

Schedule 1.1

Knowledge Group

 

Gordon Jude O’Brien

 

Thomas L. Gregory

 

2

 

Schedule 2.2(a)(i)

Purchased Patents

 

	
  Patent Number

  	
   

  	
  Description

  	
   

  	
  Issue Date

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  5,672,145

  	
   

  	
  Tool Carousel

  	
   

  	
  09/30/97

  	
   

  

 

3

 

Schedule
2.2(a)(ii)

Purchased
Trademarks

 

Purchased Trademarks:

 

1.  DISCOVERY TORQ-CUT 22

2.  

3.  EXPLORER

4.  EZPATH

5. EZTRAK

 

Purchased Registered
Trademarks:

 

	
  Country

  	
   

  	
  File No.

  	
   

  	
  Trademark

  	
   

  	
  App.No.

  	
   

  	
  Filing

  Date

  	
   

  	
  Reg.

  No.

  	
   

  	
  Reg.

  Date

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Australia

  	
   

  	
  TM153-001

  	
   

  	
  BRIDGEPORT

  	
   

  	
  331,297

  	
   

  	
  04/10/1979

  	
   

  	
  5,331,297

  	
   

  	
  09/19/1963

  	
   

  
	
  Canada

  	
   

  	
  TM153-002

  	
   

  	
  BRIDGEPORT

  	
   

  	
  405,159

  	
   

  	
  01/21/1977

  	
   

  	
  243,145

  	
   

  	
  04/15/1950

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  China

  	
   

  	
  TM163A-010

  	
   

  	
  BRIDGEPORT

  	
   

  	
  950438940

  	
   

  	
  11/05/1995

  	
   

  	
  999,187

  	
   

  	
  05/06/1997

  	
   

  
	
  China

  	
   

  	
  TM163B-018

  	
   

  	
  BRIDGEPORT

  	
   

  	
  950138941

  	
   

  	
  11/05/1995

  	
   

  	
  1,005,858

  	
   

  	
  05/13/1997

  	
   

  
	
  European Community

  	
   

  	
  TM153-003

  	
   

  	
  BRIDGEPORT

  	
   

  	
  165836

  	
   

  	
  04/01/1995

  	
   

  	
  166835

  	
   

  	
  10/23/1998

  	
   

  
	
  European Community

  	
   

  	
  TM248-003

  	
   

  	
  EZ-CAM

  	
   

  	
  165934

  	
   

  	
  04/01/1998

  	
   

  	
  166934

  	
   

  	
  09/11/1995

  	
   

  
	
  European Community

  	
   

  	
  TM497-003

  	
   

  	
  EZFEATUREMILL

  	
   

  	
  167007

  	
   

  	
  04/01/1995

  	
   

  	
  167007

  	
   

  	
  07/10/1998

  	
   

  
	
  European Community

  	
   

  	
  TM498-003

  	
   

  	
  EZPATH

  	
   

  	
  156554

  	
   

  	
  04/01/1998

  	
   

  	
  165884

  	
   

  	
  07/10/1995

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  European Community

  	
   

  	
  TM516-005

  	
   

  	
  POWERPATH

  	
   

  	
  335249

  	
   

  	
  07/30/1996

  	
   

  	
  335349

  	
   

  	
  07/30/1996

  	
   

  
	
  Hong Kong

  	
   

  	
  TM163C-03

  	
   

  	
  BRIDGEPORT

  	
   

  	
  13516/95

  	
   

  	
  10/24/1995

  	
   

  	
  1999/07544

  	
   

  	
  06/14/1999

  	
   

  
	
  Indonesia

  	
   

  	
  TM153-059

  	
   

  	
  BRIDGEPORT

  	
   

  	
  —

  	
   

  	
  05/21/1979

  	
   

  	
  267294

  	
   

  	
  —

  	
   

  
	
  Japan

  	
   

  	
  TM163A-004

  	
   

  	
  BRIDGEPORT

  	
   

  	
  35,908/77

  	
   

  	
  06/23/1977

  	
   

  	
  1,741,752

  	
   

  	
  01/23/1995

  	
   

  
	
  Japan

  	
   

  	
  TM—

  	
   

  	
  BRIDGEPORT

  	
   

  	
  4-11-754

  	
   

  	
  05/07/1992

  	
   

  	
  4220636

  	
   

  	
  12/11/1998

  	
   

  
	
  Japan

  	
   

  	
  TM248B-004

  	
   

  	
  BRIDGEPORT

  	
   

  	
  4-110755

  	
   

  	
  05/07/1992

  	
   

  	
  4,031,341

  	
   

  	
  07/15/1997

  	
   

  
	
  Korea, Republic of (Sou

  	
   

  	
  TM153-005

  	
   

  	
  BRIDGEPORT

  	
   

  	
  —

  	
   

  	
  —

  	
   

  	
  70358

  	
   

  	
  07/-/1980

  	
   

  
	
  Malaysia

  	
   

  	
  TM153-103

  	
   

  	
  BRIDGEPORT

  	
   

  	
  M/52119

  	
   

  	
  04/2-/1979

  	
   

  	
  M/082119

  	
   

  	
  04/24/1979

  	
   

  
	
  Mexico

  	
   

  	
  TM153C-010

  	
   

  	
  BRIDGEPORT

  	
   

  	
  104,3-9

  	
   

  	
  01/09/1991

  	
   

  	
  495,081

  	
   

  	
  01/0-/1991

  	
   

  
	
  Mexico

  	
   

  	
  TM153D-010

  	
   

  	
  BRIDGEPORT

  	
   

  	
  104,370

  	
   

  	
  01/09/1991

  	
   

  	
  405,082

  	
   

  	
  02/09/1992

  	
   

  
	
  Singapore

  	
   

  	
  TM153-040

  	
   

  	
  BRIDGEPORT

  	
   

  	
  79,964

  	
   

  	
  04/19/1979

  	
   

  	
  T79/79964A

  	
   

  	
  01/10/1979

  	
   

  
	
  Taiwan

  	
   

  	
  TM153-008

  	
   

  	
  BRIDGEPORT

  	
   

  	
  (65)08153

  	
   

  	
  08/17/1977

  	
   

  	
  96,716

  	
   

  	
  02/26/1978

  	
   

  
	
  United Kingdom

  	
   

  	
  TM153C-019

  	
   

  	
  BRIDGEPORT

  	
   

  	
  2004487

  	
   

  	
  10/31/1994

  	
   

  	
  2004487

  	
   

  	
  08/02/1998

  	
   

  
	
  United Kingdom

  	
   

  	
  TM248-019

  	
   

  	
  EZ-CAM

  	
   

  	
  1,287,949

  	
   

  	
  10/21/1986

  	
   

  	
  B1287949

  	
   

  	
  10/21/1986

  	
   

  

 

4

 

USA

 

	
  BRIDGEPORT (and Design)

  	
   

  	
  672,452

  	
   

  	
  1/13/59

  	
   

  
	
  QUILL MASTER (and
  Design)

  	
   

  	
  681,116

  	
   

  	
  6/30/59

  	
   

  
	
  EZ-CAM

  	
   

  	
  1,338,961

  	
   

  	
  6/4/85

  	
   

  
	
  INTERACT

  	
   

  	
  1,361,441

  	
   

  	
  9/24/85

  	
   

  
	
  AIR-FLO

  	
   

  	
  1,424,600

  	
   

  	
  1/13/87

  	
   

  
	
  BRIDGEPORT

  	
   

  	
  1,742,918

  	
   

  	
  12/29/92

  	
   

  
	
  EZ-MILL

  	
   

  	
  1,595,123

  	
   

  	
  5/8/90

  	
   

  
	
  EZ PATH-II (and Design)

  	
   

  	
  2,034,307

  	
   

  	
  1/28/97

  	
   

  
	
  EZ-TURN

  	
   

  	
  1,594,029

  	
   

  	
  5/1/90

  	
   

  
	
  POWERPATH

  	
   

  	
  2,086,548

  	
   

  	
  8/5/97

  	
   

  
	
  TORQ-CUT TC

  	
   

  	
  2,374,841

  	
   

  	
  8/8/00

  	
   

  

 

5

 

Schedule
2.2(a)(iii)

Purchased
Copyrights

 

	
  Title

  	
   

  	
  Reg. No.

  	
   

  	
  Reg. Date

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Series I CNC, Machining Center

  	
   

  	
  TX-954-329

  	
   

  	
  4/2/82

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Series I CNC: BridgeportSeries I CNC Mill

  	
   

  	
  TX-954-328

  	
   

  	
  4/2/82

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  O-C 14A

  	
   

  	
  TX-954-327

  	
   

  	
  4/2/82

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Series II CNC

  	
   

  	
  TX-954-326

  	
   

  	
  4/2/82

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Series I MDI

  	
   

  	
  TX-954-325

  	
   

  	
  4/2/82

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  E-Z CAM

  	
   

  	
  TX-954-324

  	
   

  	
  4/2/82

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  R2D3

  	
   

  	
  TX-954-323

  	
   

  	
  4/2/82

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Bridgeport Attachments And Accessories For Standard
  Vertical Milling Machines

  	
   

  	
  TX-954-322

  	
   

  	
  4/2/82

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Bridgeport Winners, E-Z CAM/CNC: Two Powerful Tools
  For One Low Price

  	
   

  	
  TX-954-321

  	
   

  	
  4/2/82

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Top Shops: 1: For And About Shops That Are Tops In
  Their Field

  	
   

  	
  TX-954-320

  	
   

  	
  4/2/82

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  America Invades America

  	
   

  	
  TX-954-319

  	
   

  	
  4/2/82

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  The Bridgeport Standard Machines

  	
   

  	
  TX-954-317

  	
   

  	
  4/2/82

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  American Classics At Import Prices

  	
   

  	
  TX-954-316

  	
   

  	
  4/2/82

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Choice Cut

  	
   

  	
  TX-954-314

  	
   

  	
  4/2/82

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Make Your Used Bridgeport Work Like New

  	
   

  	
  TX-882-049

  	
   

  	
  4/2/82

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Supplemental Mass Storage Boosts CNC Productivity

  	
   

  	
  TX-882-048

  	
   

  	
  4/2/82

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Add DNC Power to Your CNC Bridgeports

  	
   

  	
  TX-882-047

  	
   

  	
  4/2/82

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Buy From Bridgeport Direct, 1-800-243-4292

  	
   

  	
  TX-864-141

  	
   

  	
  2/24/82

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Why Bridgeport Has Decided To Sell To You Direct

  	
   

  	
  TX-864-140

  	
   

  	
  2/24/82

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  An American Classic At A Foreign Price

  	
   

  	
  TX-864-139

  	
   

  	
  2/24/82

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  The Bridgeport CNC’s

  	
   

  	
  TX-864-138

  	
   

  	
  2/24/82

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Get The Point

  	
   

  	
  TX-864-137

  	
   

  	
  2/24/82

  	
   

  

 

6

 

	
  Think Sharp

  	
   

  	
  TX-864-136

  	
   

  	
  2/24/82

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  There’s More to Bridgeport Than Meets The Eye

  	
   

  	
  TX-864-135

  	
   

  	
  2/24/82

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  The Bridgeport CNC’s

  	
   

  	
  TX-823-895

  	
   

  	
  12/24/81

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  The Real World

  	
   

  	
  TX-823-894

  	
   

  	
  12/24/81

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  The Easy Life

  	
   

  	
  TX-823-893

  	
   

  	
  12/24/81

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Life Rolls On

  	
   

  	
  TX-823-92

  	
   

  	
  12/24/81

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  The Bridgeport CNC’s

  	
   

  	
  TX-793-474

  	
   

  	
  10/30/81

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Don’t Buy A Cheap CNC (Buy A Bridgeport CNC Cheaper)

  	
   

  	
  TX-793-473

  	
   

  	
  10/30/81

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Life line

  	
   

  	
  TX-811-219

  	
   

  	
  11/16/81

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Introducing the automatic Bridgeport

  	
   

  	
  TX-811-217

  	
   

  	
  11/16/81

  	
   

  

 

7

 

Schedule 2.2(b)

Purchased
Contracts

 

1. Agreement between the
Company and Strathclyde Machine Tools, a company organised under the laws of
Australia, dated 2 September, 2004.

 

8

 

Schedule 2.3

 

Excluded Assets

 

1. All Seller’s right,
title and interest in the Alliance Agreement between Seller and Buyer dated as
of the date hereof;

 

2. All Seller’s cash and
cash equivalents on hand and in banks and other financial institutions;

 

3. Insurance policies and
payments related thereto;

 

4. All accounts
receivable owing to the Seller, including but not limited to those (a) arising
in respect of royalty payments pursuant to an alliance agreement between the
Seller, the Buyer and BML dated October 29, 2002 (the “Original Alliance
Agreement”), and (b) owing from BML and all other Affiliates of the Seller;

 

5. All Seller’s right,
title and interest under the Termination Agreement dated as of the date hereof
in respect of the Original Alliance Agreement.

 

9

 

Schedule 4.3

Noncontravention;
Consents

 

None

 

10

 

Schedule 4.5

Intellectual
Property

 

Schedule 4.5(a)

 

Registrations for the following U.S. trade marks have
been cancelled.  BPT transfers to
Hardinge whatever rights it may have in these marks on the basis that these
trade marks are excluded from the representations and warranties that BPT gives
at sections 4.5(a) and 4.5(d) of the Agreement:

 

1.  DISCOVERY TORQ-CUT 22

2.  

3.  EXPLORER

4.  EZPATH

5. EZTRAK

 

Schedule 4.5(b)

 

None

 

Schedule 4.5(c)

 

None

 

11

 

Schedule 4.6

Litigation

 

None

 

12

 

Schedule 4.7

Legal Compliance

 

None

 

13

 

Schedule 4.9

Broker’s Fees

 

None

 

14

 

Schedule 4.11

Title

 

None

 

15

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00074-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00074-of-00352.parquet"}]]