Document:

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                                                                    Exhibit 10.9

                                                                  EXECUTION COPY

                                  $155,000,000

                           ICON HEALTH & FITNESS, INC.

                    11.25% Senior Subordinated Notes due 2012

                               PURCHASE AGREEMENT
                               ------------------

                                                                  March 28, 2002

CREDIT SUISSE FIRST BOSTON CORPORATION
J. P. MORGAN SECURITIES INC.
FLEET SECURITIES, INC.
c/o Credit Suisse First Boston Corporation,
As Representative of the Several Purchasers
Eleven Madison Avenue,
New York, New York 10010-3629

Dear Sirs:

          1. Introductory. ICON Health & Fitness, Inc., a Delaware corporation
(the "Company"), proposes, subject to the terms and conditions stated herein, to
issue and sell to the several initial purchasers named in Schedule A hereto (the
"Initial Purchasers") $155,000,000 principal amount of its 11.25% Senior
Subordinated Notes due 2012 (the "Offered Securities") to be issued under an
indenture, dated as of April 9, 2002 (the "Indenture"), between the Company, the
Guarantors (as defined below) and The Bank of New York, as Trustee on a private
placement basis pursuant to an exemption under Section 4(2) of the United States
Securities Act of 1933, as amended (the "Securities Act"). The Company's
obligations under the Offered Securities, including the due and punctual payment
of interest on the Offered Securities, shall be unconditionally guaranteed (the
"Guarantee") by Jumpking, Inc., a Utah corporation ("Jumpking"), Universal
Technical Services, a Utah corporation ("UTS"), ICON International Holdings,
Inc., a Delaware corporation ("ICON International"), ICON IP, Inc., a Delaware
corporation ("ICON IP"), Free Motion Fitness, Inc., a Utah corporation ("Free
Motion"), NordicTrack, Inc., a Utah corporation ("NordicTrack"), 510152 N.B.
Ltd., a New Brunswick corporation ("N.B. Ltd.") and ICON du Canada Inc., a
Quebec corporation ("ICON Canada", whose Guarantee shall consist of the
guarantee of the obligations of N.B. Ltd., which in turn will undertake,
pursuant to its Guarantee, to guarantee the Company's obligations under the
Offered Securities), and each of the Company's future domestic subsidiaries
(each, a "Guarantor"; ICON International and ICON IP, together,

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the "Delaware Guarantors"; Jumpking, UTS, Free Motion and NordicTrack, together,
the "Utah Guarantors"; N.B. Ltd. and ICON Canada, together, the "Canadian
Guarantors"; the Delaware Guarantors, the Utah Guarantors and the Canadian
Guarantors, together, the "Guarantors"). As used herein, the term "Offered
Securities" shall include the Guarantees thereof by the Guarantors, unless the
context otherwise requires.

         Holders (including subsequent transferees) of the Offered Securities
will have the registration rights set forth in the registration rights agreement
(the "Registration Rights Agreement"), to be dated the Closing Date, in
substantially the form of Exhibit I hereto, for so long as such Offered
Securities constitute "Transfer Restricted Securities" (as defined in the
Registration Rights Agreement). Pursuant to the Registration Rights Agreement,
the Company and the Guarantors will agree to file with the Securities and
Exchange Commission (the "Commission") under the circumstances set forth
therein, (i) a registration statement under the Securities Act (the "Exchange
Offer Registration Statement") relating to the Company's 11.25% Senior
Subordinated Notes in a like aggregate principal amount as the Offered
Securities originally issued under the Indenture, identical in all material
respects to the Offered Securities and the Guarantees and registered under the
Securities Act (the "Exchange Notes" and the "Exchange Guarantees," together,
the "Exchange Securities") to be offered in exchange for the Offered Securities
(such offer to exchange being referred to as the "Exchange Offer") and the
Guarantees thereof and (ii) a shelf registration statement pursuant to Rule 415
under the Securities Act (the "Shelf Registration Statement" and, together with
the Exchange Offer Registration Statement, the "Registration Statements")
relating to the resale by certain holders of the Offered Securities and to use
its best efforts to cause such Registration Statements to be declared and remain
effective and usable for the periods specified in the Registration Rights
Agreement and to consummate the Exchange Offer. The Offered Securities and the
Exchange Securities are referred to collectively as the "Securities."

         2. Representations and Warranties of the Company. The Company and each
of the Guarantors, jointly and severally, represents and warrants to, and agrees
with, the Initial Purchasers that:

                (a) A preliminary offering circular and an offering circular
         relating to the Offered Securities to be offered by the Company and the
         Guarantors have been prepared by the Company and the Guarantors. Such
         preliminary offering circular (the "Preliminary Offering Circular") and
         offering circular (the "Offering Circular"), as supplemented as of the
         date of this Agreement, are hereinafter collectively referred to as the
         "Offering Document." On the date of this Agreement, the Offering
         Document does not include any untrue statement of a material fact or
         omit to state any material fact required to be stated therein or
         necessary in order to make the statements therein, in the light of the
         circumstances under which they were made, not misleading. The preceding
         sentence does not apply to statements in or omissions from the Offering
         Document based upon written information furnished to the Company by any
         Initial Purchaser through Credit Suisse First Boston Corporation
         ("CSFBC") specifically for use therein, it being understood and agreed
         that the only such information is that described as such in Section
         7(b) hereof.

                (b) No order or decree preventing the use of the Offering
         Document, or any order asserting that the transactions contemplated by
         this Agreement are subject to the

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         registration requirements of the Securities Act, has been issued and no
         proceeding for that purpose has commenced or is pending or, to the
         knowledge of the Company or any of the Guarantors, is contemplated.

                  (c) The market-related and customer-related data and estimates
         included under the captions "Summary" and "Business" in the Offering
         Document are based on or derived from sources which the Company and
         each of the Guarantors believe to be reliable.

                  (d) The Offered Securities have been duly and validly
         authorized by the Company and when duly executed by the Company in
         accordance with the terms of the Indenture and, assuming due
         authentication of the Offered Securities by the Trustee, upon delivery
         to the Initial Purchasers against payment therefor in accordance with
         the terms hereof, will have been validly issued and delivered, and will
         constitute valid and legally binding obligations of the Company
         entitled to the benefits of the Indenture, enforceable against the
         Company in accordance with their terms, subject to the qualification
         that the enforceability of the Company's obligations thereunder may be
         limited by bankruptcy, fraudulent conveyance, insolvency,
         reorganization, moratorium, and other laws relating to or affecting
         creditors' rights generally and by general equitable principles
         (whether considered in a proceeding in equity or at law). The Offered
         Securities will conform to the description thereof in the Offering
         Document.

                  (e) The Exchange Notes have been duly and validly authorized
         by the Company and if and when duly issued and authenticated in
         accordance with the terms of the Indenture and delivered in accordance
         with the Registration Rights Agreement, will constitute valid and
         legally binding obligations of the Company entitled to the benefits of
         the Indenture, enforceable against the Company in accordance with their
         terms, subject to the qualification that the enforceability of the
         Company's obligations thereunder may be limited by bankruptcy,
         fraudulent conveyance, insolvency, reorganization, moratorium, and
         other laws relating to or affecting creditors' rights generally and by
         general equitable principles (whether considered in a proceeding in
         equity or at law).

                  (f) The Guarantees have been duly and validly authorized by
         the Guarantors and when duly executed and delivered by the Guarantors
         in accordance with the terms of the Indenture and upon the due
         execution, authentication and delivery of the Offered Securities in
         accordance with the Indenture and the issuance of the Offered
         Securities in the sale to the Initial Purchasers contemplated by this
         Agreement, will constitute valid and legally binding obligations of the
         Guarantors, enforceable against the Guarantors in accordance with their
         terms, subject to the qualification that the enforceability of the
         Guarantors' obligations thereunder may be limited by bankruptcy,
         fraudulent conveyance, insolvency, reorganization, moratorium, and
         other laws relating to or affecting creditors' rights generally and by
         general equitable principles (whether considered in a proceeding in
         equity or at law). The Guarantees will conform to the description
         thereof in the Offering Document.

                  (g) The Exchange Guarantees have been duly and validly
         authorized by the Guarantors and if and when duly executed and
         delivered by the Guarantors in accordance

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         with the terms of the Indenture and upon the due execution and
         authentication of the Exchange Notes in accordance with the Indenture
         and the issuance and delivery of the Exchange Notes contemplated by the
         Registration Rights Agreement, will constitute valid and legally
         binding obligations of the Guarantors, entitled to the benefits of the
         Indenture, enforceable against the Guarantors in accordance with their
         terms, subject to the qualification that the enforceability of the
         Guarantors' obligations thereunder may be limited by bankruptcy,
         fraudulent conveyance, insolvency, reorganization, moratorium, and
         other laws relating to or affecting creditors' rights generally and by
         general equitable principles (whether considered in a proceeding in
         equity or at law).

                  (h) The Company and each of the Guarantors has been duly
         incorporated and is an existing corporation in good standing under the
         laws of the state or jurisdiction in which such corporation is
         organized, with power and authority (corporate and other) to own its
         properties and conduct its business as described in the Offering
         Document; and the Company and each of the Guarantors is duly qualified
         to do business as a foreign corporation in good standing in all other
         jurisdictions in which its ownership or lease of property or the
         conduct of its business requires such qualification; except to the
         extent that any failure to so qualify would not individually or in the
         aggregate have a material adverse effect on the condition (financial or
         other), business, properties or results of operations of the Company,
         each of the Guarantors and any of their respective subsidiaries, taken
         as a whole ("Material Adverse Effect").

                  (i) Each subsidiary of the Company and the Guarantors has been
         duly incorporated and is an existing corporation in good standing under
         the laws of the jurisdiction of its incorporation, with power and
         authority (corporate and other) to own its properties and conduct its
         business as described in the Offering Document; and each subsidiary of
         the Company and the Guarantors is duly qualified to do business as a
         foreign corporation in good standing in all other jurisdictions in
         which its ownership or lease of property or the conduct of its business
         requires such qualification, except to the extent that any failure to
         so qualify would not individually or in the aggregate have a Material
         Adverse Effect; all of the issued and outstanding capital stock of each
         subsidiary of the Company and the Guarantors has been duly authorized
         and validly issued and is fully paid and nonassessable; and, except as
         set forth in the Offering Document, the capital stock of each
         subsidiary owned by the Company and the Guarantors, directly or through
         subsidiaries, is owned free from liens, encumbrances and defects.

                  (j) The entities listed on Schedule B hereto are the only
         subsidiaries, direct or indirect, of the Company.

                  (k) The Indenture has been duly and validly authorized by the
         Company and the Guarantors, and upon its execution and delivery and,
         assuming due authorization, execution and delivery by the Trustee, will
         constitute the valid and legally binding agreement of the Company and
         the Guarantors, enforceable against the Company and the Guarantors in
         accordance with its terms, subject to the qualification that the
         enforceability of the Company's and the Guarantors' obligations
         thereunder may be limited by bankruptcy, fraudulent conveyance,
         insolvency, reorganization, moratorium,

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         and other laws relating to or affecting creditors' rights generally and
         by general equitable principles (whether considered in a proceeding in
         equity or at law). No qualification of the Indenture under the Trust
         Indenture Act of 1939, as amended (the "1939 Act") is required in
         connection with the offer and sale of the Offered Securities
         contemplated hereby. The Indenture will conform to the description
         thereof in the Offering Document.

                  (l) On the Closing Date, the Indenture will conform in all
         material respects to the requirements of the 1939 Act and the rules and
         regulations of the Commission applicable to an indenture which is
         qualified thereunder.

                  (m) Except as disclosed in the Offering Document, there are no
         contracts, agreements or understandings between the Company or any of
         the Guarantors and any person that would give rise to a valid claim
         against the Company, any Guarantor or the Initial Purchasers for a
         brokerage commission, finder's fee or other like payment in connection
         with the Offered Securities.

                  (n) The Company and each of the Guarantors have all requisite
         corporate power and authority to enter into the Registration Rights
         Agreement. The Registration Rights Agreement has been duly authorized
         by the Company and the Guarantors and, when executed by the Company and
         the Guarantors in accordance with the terms hereof and thereof, will be
         validly executed and delivered and (assuming the due execution and
         delivery thereof by you), will be the valid and legally binding
         obligation of the Company and the Guarantors in accordance with the
         terms thereof, enforceable against the Company and the Guarantors in
         accordance with its terms, except as such enforceability may be limited
         by bankruptcy, insolvency, reorganization, moratorium and other similar
         laws relating to or affecting creditor's rights generally, by general
         equitable principles (regardless of whether such enforceability is
         considered in a proceeding in equity or at law), and, as to rights of
         indemnification and contribution, by federal or state securities laws
         and principles of public policy.

                  (o) No consent, approval, authorization, or order of, or
         filing with, any governmental agency or body or any court is required
         for the consummation of the transactions contemplated by this
         Agreement, the Indenture or the Registration Rights Agreement in
         connection with the issuance and sale of the Offered Securities by the
         Company or the Guarantors, except (i) for the order of the Commission
         declaring the Exchange Offer Registration Statement or the Shelf
         Registration Statement effective, (ii) as may be required under the
         1939 Act and (iii) as may be required under the securities or blue sky
         laws of certain jurisdictions.

                  (p) The execution, delivery and performance of the Indenture,
         this Agreement and the Registration Rights Agreement, and the issuance
         and sale of the Offered Securities and compliance with the terms and
         provisions thereof will not result in a breach or violation of any of
         the terms and provisions of, or constitute a default under, any
         statute, any rule, regulation or order of any governmental agency or
         body or any court, domestic or foreign, having jurisdiction over the
         Company, any of the Guarantors or any of their respective subsidiaries
         or any of their properties, or any material agreement or instrument to
         which the Company, any of the Guarantors or any of their respective
         subsidiaries is a party or by

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         which the Company, any of the Guarantors or any of their respective
         subsidiaries is bound or to which any of the properties of the Company,
         any of the Guarantors or any of their respective subsidiaries is
         subject, or the charter or by-laws of the Company, any of the
         Guarantors or any of their respective subsidiaries, and the Company and
         each of the Guarantors has full corporate power and authority to
         authorize, issue and sell the Offered Securities as contemplated by
         this Agreement.

                  (q) This Agreement has been duly authorized, executed and
         delivered by the Company and each of the Guarantors.

                  (r) Except as disclosed in the Offering Document, the Company,
         each of the Guarantors or any of their respective subsidiaries have
         good and marketable title to all real properties and all other
         properties and assets owned by them, in each case free from liens,
         encumbrances and defects that would materially affect the value thereof
         or materially interfere with the use made or to be made thereof by
         them; and except as disclosed in the Offering Document, the Company,
         each of the Guarantors or any of their respective subsidiaries hold any
         leased real or personal property under valid and enforceable leases
         with no exceptions that would materially interfere with the use made or
         to be made thereof by them.

                  (s) The Company, each of the Guarantors and any of their
         respective subsidiaries possess adequate certificates, authorities or
         permits issued by appropriate governmental agencies or bodies necessary
         to conduct the business now operated by them and have not received any
         notice of proceedings relating to the revocation or modification of any
         such certificate, authority or permit that, if determined adversely to
         the Company, any of the Guarantors or any of their respective
         subsidiaries, would individually or in the aggregate have a Material
         Adverse Effect.

                  (t) No labor dispute with the employees of the Company, any of
         the Guarantors or any of their respective subsidiaries exists or, to
         the knowledge of the Company or any of the Guarantors, is imminent that
         might have a Material Adverse Effect.

                  (u) The Company, each of the Guarantors or any of their
         respective subsidiaries own or possess or have the right to use,
         adequate trademarks, trade names and other rights to inventions,
         know-how, patents, copyrights, licenses, confidential information and
         other intellectual property (collectively, "intellectual property
         rights") necessary to conduct the business now operated by them, or
         presently employed by them, and have not received any notice of
         infringement of or conflict with asserted rights of others with respect
         to any intellectual property rights that, if determined adversely to
         the Company, any of the Guarantors or any of their respective
         subsidiaries, would individually or in the aggregate have a Material
         Adverse Effect.

                  (v) Except as disclosed in the Offering Document, neither the
         Company, any of the Guarantors nor any of their respective subsidiaries
         is in violation of any statute, any rule, regulation, decision or order
         of any governmental agency or body or any court, domestic or foreign,
         relating to the use, disposal or release of hazardous or toxic
         substances or relating to the protection or restoration of the
         environment or human exposure to

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         hazardous or toxic substances (collectively, "environmental laws"),
         owns or operates any real property contaminated with any substance that
         is subject to any environmental laws, is liable for any off-site
         disposal or contamination pursuant to any environmental laws, or is
         subject to any claim relating to any environmental laws, which
         violation, contamination, liability or claim would individually or in
         the aggregate have a Material Adverse Effect; and neither the Company
         nor any of the Guarantors is aware of any pending investigation which
         might lead to such a claim.

                  (w) Except as disclosed in the Offering Document, there are no
         pending actions, suits or proceedings against or, to the Company's
         knowledge, affecting the Company, any of the Guarantors, any of their
         respective subsidiaries or any of their respective properties that, if
         determined adversely to the Company, any of the Guarantors or any of
         their respective subsidiaries, would individually or in the aggregate
         have a Material Adverse Effect, or would materially and adversely
         affect the ability of the Company or any of the Guarantors to perform
         their respective obligations under the Indenture, this Agreement or the
         Registration Rights Agreement, or which are otherwise material in the
         context of the sale of the Offered Securities; and to the Company's or
         any of the Guarantor's knowledge no such actions, suits or proceedings
         are threatened or contemplated.

                  (x) The financial statements included in the Offering Document
         present fairly the financial position of the Company and its
         consolidated subsidiaries as of the dates shown and their results of
         operations and cash flows for the periods shown, and such financial
         statements have been prepared in conformity with the generally accepted
         accounting principles in the United States applied on a consistent
         basis; and the assumptions used in preparing the pro forma financial
         statements included in the Offering Document provide a reasonable basis
         for presenting the significant effects directly attributable to the
         transactions or events described therein, the related pro forma
         adjustments give appropriate effect to those assumptions, and the pro
         forma columns therein reflect the proper application of those
         adjustments to the corresponding historical financial statement
         amounts.

                  (y) Except as disclosed in the Offering Document, since the
         date of the latest audited financial statements included in the
         Offering Document, neither the Company, any Guarantor nor any of their
         respective subsidiaries has sustained any material loss or interference
         with its business from fire, explosion, flood or other calamity,
         whether or not covered by insurance, or from any labor dispute or court
         or governmental action, order or decree and there has been no material
         adverse change, nor any development or event involving a prospective
         material adverse change, in the condition (financial or other),
         business, properties or results of operations of the Company, any of
         the Guarantors or any of their respective subsidiaries, and, except as
         disclosed in or contemplated by the Offering Document, there has been
         no dividend or distribution of any kind declared, paid or made by the
         Company or any of the Guarantors on any class of its capital stock.

                  (z) The Company is not an open-end investment company, unit
         investment trust or face-amount certificate company that is or is
         required to be registered under Section 8 of the United States
         Investment Company Act of 1940, as amended and the rules and
         regulations of the Commission thereunder (the "Investment Company
         Act"); and the

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         Company is not and, after giving effect to the offering and sale of the
         Offered Securities and the application of the proceeds thereof as
         described in the Offering Document, will not be an "investment company"
         as defined in the Investment Company Act.

                  (aa) No securities of the same class (within the meaning of
         Rule 144A(d)(3) under the Securities Act) as the Offered Securities are
         listed on any national securities exchange registered under Section 6
         of the United States Securities Exchange Act of 1934 (the "Exchange
         Act") or quoted in a U.S. automated inter-dealer quotation system.

                  (bb) The offer and sale of the Offered Securities by the
         Company to the Initial Purchasers in the manner contemplated by this
         Agreement will be exempt from the registration requirements of the
         Securities Act by reason of Section 4(2) thereof and Regulation S
         thereunder ("Regulation S"); and it is not necessary to qualify an
         indenture in respect of the Offered Securities under the Trust
         Indenture Act.

                  (cc) Neither the Company, any of the Guarantors nor any of
         their respective affiliates, nor any person acting on its or their
         behalf (i) has, within the six-month period immediately prior to the
         date hereof, offered or sold in the United States or to any U.S. person
         (as such terms are defined in Regulation S) the Offered Securities or
         any security of the same class or series as the Offered Securities or
         (ii) has offered or will offer or sell the Offered Securities (A) in
         the United States by means of any form of general solicitation or
         general advertising within the meaning of Rule 502(c) under the
         Securities Act or (B) with respect to any securities sold in reliance
         on Rule 903 of Regulation S, by means of any directed selling efforts
         within the meaning of Rule 902(c) of Regulation S. The Company, each of
         the Guarantors and any of their respective affiliates and any person
         acting on its or their behalf have complied and will comply with the
         offering restrictions requirement of Regulation S. The Company and each
         of the Guarantors has not entered and will not enter into any
         contractual arrangement with respect to the distribution of the Offered
         Securities except for this Agreement.

                  (dd) The Offering Document contains all the information
         specified in, and meeting the requirements of, Rule 144A(d)(4) under
         the Securities Act.

                  (ee) There are no contracts, agreements or understandings
         between the Company or any Guarantor and any person (other than the
         Registration Rights Agreement and the registration rights agreement
         entered into by the Company in connection with the issuance of the
         Company's 12% Senior Subordinated Notes due 2005) granting such person
         the right to require the Company or such Guarantor to file a
         registration statement under the Securities Act with respect to any
         securities of the Company or such Guarantor owned or to be owned by
         such person or to require the Company or such Guarantor to include such
         securities with the Offered Securities and Guarantees registered
         pursuant to the Registration Rights Agreement or with any securities
         being registered pursuant to any other registration statement filed by
         the Company or any Guarantor under the Securities Act.

                  (ff) The Company, each of the Guarantors and each of their
         respective subsidiaries carry, or are covered by, insurance in such
         amounts and covering such risks

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         as is adequate for the conduct of their respective businesses and the
         value of their respective properties and as is customary for companies
         engaged in similar businesses in similar industries.

                  (gg) No relationship, direct or indirect, required to be
         described under Item 404 of Regulation S-K, exists between or among the
         Company on the one hand, and the directors, officers or stockholders of
         the Company on the other hand, which is not described in the Offering
         Document.

                  (hh) The Company is in compliance in all material respects
         with all presently applicable provisions of ERISA; no "reportable
         event" (as defined in ERISA), has occurred with respect to any "pension
         plan" (as defined in ERISA), for which the Company would have any
         liability; the Company has not incurred and does not expect to incur
         liability under (i) Title IV of ERISA with respect to termination of,
         or withdrawal from, any "pension plan" or (ii) Sections 412 or 4971 of
         the Internal Revenue Code of 1986, as amended, including the
         regulations and published interpretations thereunder (the "Code"); and
         each "pension plan" for which the Company would have any liability that
         is intended to be qualified under Section 401(a) of the Code is so
         qualified in all material respects and nothing has occurred, whether by
         action or by failure to act, which would cause the loss of such
         qualification.

                  (ii) The Company and each of the Guarantors have filed all
         federal, state and local income and franchise tax returns required to
         be filed through the date hereof and have paid all taxes due thereon,
         and no tax deficiency has been determined adversely to the Company, any
         of the Guarantors or any of their respective subsidiaries which has had
         (nor does the Company or any of the Guarantors have any knowledge of
         any tax deficiency which, if determined adversely to the Company, any
         of the Guarantors or any of their respective subsidiaries, might have)
         a Material Adverse Effect.

                  (jj) Since the date as of which information is given in the
         Preliminary Offering Circular through the date hereof, and except as
         may otherwise be disclosed or contemplated in the Offering Document,
         neither the Company nor any of the Guarantors have (i) issued or
         granted any securities, (ii) incurred any liability or obligation,
         direct or contingent, other than liabilities and obligations which were
         incurred in the ordinary course of business, (iii) entered into any
         transaction not in the ordinary course of business or (iv) declared or
         paid any dividend on its capital stock.

                  (kk) The Company and each of the Guarantors (i) make and keep
         books and records which are accurate in all material respects and (ii)
         maintain internal accounting controls which provide reasonable
         assurance that (A) transactions are executed in accordance with
         management's authorization, (B) transactions are recorded as necessary
         to permit preparation of its financial statements and to maintain
         accountability for its assets, (C) access to their respective assets is
         permitted only in accordance with management's authorization and (D)
         the reported accountability for their respective assets is compared
         with existing assets at reasonable intervals.

                  (ll) Neither the Company, the Guarantors nor any of their
         respective subsidiaries (i) is in violation of its respective charter
         or by-laws (ii) is in default in any material

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         respect, and no event has occurred which, with notice or lapse of time
         or both would constitute such a material default, in the due
         performance or observance of any obligation, agreement, covenant or
         condition contained in any material indenture, loan agreement,
         mortgage, deed of trust, lease or other agreement or instrument to
         which it is a party or by which it is bound or to which any of its
         properties or assets is subject or (iii) is in violation in any
         material respect of any law, ordinance, governmental rule, regulation
         or court decree to which it or its property or assets may be subject or
         has failed to obtain any material license, permit, certificate,
         franchise or other governmental authorization or permit necessary to
         the ownership of its property or to the conduct of its business.

                  (mm) Neither the Company nor any of the Guarantors nor any of
         their respective subsidiaries, nor, to the Company's or any Guarantor's
         knowledge, any director, officer, agent, employee or other person
         associated with or acting on behalf of the Company, any of the
         Guarantors or any of their respective subsidiaries, has used any
         corporate funds for any unlawful contribution, gift, entertainment or
         other unlawful expense relating to political activity; made any direct
         or indirect unlawful payment to any foreign or domestic government
         official or employee from corporate funds; violated or is in violation
         of any provision of the Foreign Corrupt Practices Act of 1977; or made
         any bribe, rebate, payoff, influence payment, kickback or other
         unlawful payment.

                  (nn) None of the transactions contemplated by this Agreement
         (including, without limitation, the use of the proceeds from the sale
         of the Offering Securities), will violate or result in a violation of
         Section 7 of the Exchange Act, or any regulation promulgated
         thereunder, including, without limitation, Regulations T, U, and X of
         the Board of Governors of the Federal Reserve System.

                  (oo) No "nationally recognized statistical rating
         organization" as such term is defined for purposes of Rule 436(g)(2)
         under the Securities Act (i) has imposed (or has informed the Company
         or any Guarantor that it is considering imposing) any condition
         (financial or otherwise) on the Company's or any Guarantor's retaining
         any rating assigned to the Company or any Guarantor, any securities of
         the Company or any Guarantor or (ii) has indicated to the Company or
         any Guarantor that it is considering (a) the downgrading, suspension,
         or withdrawal of, or any review for a possible change that does not
         indicate the direction of the possible change in, any rating so
         assigned or (b) any unfavorable change in the outlook for any rating of
         the Company, any Guarantor or any securities of the Company or any
         Guarantor.

                  (pp) No form of general solicitation or general advertising
         (as defined in Regulation D under the Securities Act) was used by the
         Company, the Guarantors or any of their respective representatives
         (other than the Initial Purchasers, as to whom the Company and the
         Guarantors make no representation) in connection with the offer and
         sale of the Offered Securities contemplated hereby, including, but not
         limited to, articles, notices or other communications published in any
         newspaper, magazine, or similar medium or broadcast over television or
         radio, or any seminar or meeting whose attendees have been invited by
         any general solicitation or general advertising.

                                       10

<PAGE>

                  (qq) The Offered Securities offered and sold in reliance on
         Regulation S have been and will be offered and sold only in offshore
         transactions.

                  (rr) None of the Company, the Guarantors nor any of their
         respective affiliates or any person acting on its or their behalf
         (other than the Initial Purchasers, as to whom the Company and the
         Guarantors make no representation) has engaged or will engage in any
         directed selling efforts within the meaning of Regulation S with
         respect to the Offered Securities or the Subsidiary Guarantees.

                  (ss) The sale of the Offered Securities pursuant to Regulation
         S is not part of a plan or scheme to evade the registration provisions
         of the Securities Act.

                  (tt) The Credit Agreement (as defined in the Indenture) has
         been duly and validly authorized by the Company and the Guarantors, and
         upon its execution and delivery and, assuming due authorization,
         execution and delivery by the lenders party thereto, will constitute
         the valid and legally binding agreement of the Company and the
         Guarantors, enforceable against the Company and the Guarantors in
         accordance with its terms, subject to the qualification that the
         enforceability of the Company's and the Guarantors' obligations
         thereunder may be limited by bankruptcy, fraudulent conveyance,
         insolvency, reorganization, moratorium, and other laws relating to or
         affecting creditors' rights generally and by general equitable
         principles (whether considered in a proceeding in equity or at law).

         3. Purchase, Sale and Delivery of Offered Securities. On the basis of
the representations, warranties and agreements herein contained, but subject to
the terms and conditions herein set forth, the Company agrees to sell to the
Initial Purchasers and the Initial Purchasers agree, severally and not jointly,
to purchase from the Company, at a purchase price of 95.964% of the principal
amount thereof plus accrued interest from April 9, 2002 to the Closing Date (as
hereinafter defined), the respective principal amounts of Securities set forth
opposite the names of the several Initial Purchasers in Schedule A hereto.

         The Company will deliver against payment of the purchase price the
Offered Securities to be offered and sold by the Initial Purchasers in reliance
on Regulation S (the "Regulation S Securities") in the form of one or more
temporary global Securities in registered form without interest coupons (the
"Regulation S Temporary Global Securities") which will be deposited with the
Trustee as custodian for The Depository Trust Company ("DTC") for the respective
accounts of the DTC participants for Morgan Guaranty Trust Company of New York,
Brussels office, as operator of the Euroclear System ("Euroclear"), and
Clearstream Banking, societe anonyme ("Clearstream, Luxembourg") and registered
in the name of Cede & Co., as nominee for DTC. The Company will deliver against
payment of the purchase price the Offered Securities to be purchased by the
Initial Purchasers hereunder and to be offered and sold by the Initial
Purchasers in reliance on Rule 144A under the Securities Act (the "144A
Securities") in the form of one permanent global security in definitive form
without interest coupons (the "Restricted Global Securities") deposited with the
Trustee as custodian for DTC and registered in the name of Cede & Co., as
nominee for DTC. The Regulation S Temporary Global Securities and the Restricted
Global Securities shall be assigned separate CUSIP numbers. The Restricted
Global Securities shall include the legend regarding restrictions on transfer
set forth under "Transfer Restrictions" in the Offering

                                       11

<PAGE>

Document. Until the termination of the restricted period (as defined in
Regulation S) with respect to the offering of the Offered Securities, interests
in the Regulation S Temporary Global Securities may only be held by the DTC
participants for Euroclear and Clearstream, Luxembourg and may not be held in
definitive form. Interests in any permanent global Securities will be held only
in book-entry form through Euroclear, Clearstream, Luxembourg or DTC, as the
case may be, except in the limited circumstances described in the Offering
Document.

         Payment for the Regulation S Securities and the 144A Securities shall
be made by the Initial Purchasers in Federal (same day) funds by wire transfer
to an account at a bank acceptable to CSFBC drawn to the order of ICON Health &
Fitness, Inc. at a closing to be conducted at the office of Latham & Watkins,
885 Third Avenue, New York, New York 10022 at 10:00 A.M., (New York time), on
April 9, 2002, or at such other time not later than seven full business days
thereafter as CSFBC and the Company determine, such time being herein referred
to as the "Closing Date," against delivery to the Trustee as custodian for DTC
of (i) the Regulation S Temporary Global Securities representing all of the
Regulation S Securities for the respective accounts of the DTC participants for
Euroclear and Clearstream, Luxembourg and (ii) the Restricted Global Securities
representing all of the 144A Securities. The Regulation S Temporary Global
Securities and the Restricted Global Securities will be made available for
checking at the above office of Latham & Watkins at least 24 hours prior to the
Closing Date.

         4. Representations by Initial Purchasers; Resale by Initial Purchasers.

         (a) Each Initial Purchaser severally represents and warrants to the
Company and each of the Guarantors that it is an "accredited investor" within
the meaning of Regulation D under the Securities Act.

         (b) Each Initial Purchaser severally acknowledges that the Offered
Securities have not been registered under the Securities Act and may not be
offered or sold within the United States or to, or for the account or benefit
of, U.S. persons except in accordance with Regulation S or pursuant to an
exemption from the registration requirements of the Securities Act. Each Initial
Purchaser severally represents and agrees that it has offered and sold the
Offered Securities and will offer and sell the Offered Securities (i) as part of
its distribution at any time and (ii) otherwise until 40 days after the later of
the commencement of the offering and the Closing Date, only in accordance with
Rule 903 or Rule 144A under the Securities Act ("Rule 144A"). Accordingly,
neither such Initial Purchaser nor its affiliates, nor any persons acting on its
or their behalf, have engaged or will engage in any directed selling efforts
with respect to the Offered Securities, and such Initial Purchaser, its
affiliates and all persons acting on its or their behalf have complied and will
comply with the offering restrictions requirement of Regulation S. Each Initial
Purchaser severally agrees that, at or prior to confirmation of sale of the
Offered Securities, other than a sale pursuant to Rule 144A, such Initial
Purchaser will have sent to each distributor, dealer or person receiving a
selling concession, fee or other remuneration that purchases the Offered
Securities from it during the restricted period a confirmation or notice to
substantially the following effect:

                  "The Securities covered hereby have not been registered under
                  the U.S. Securities Act of 1933 (the "Securities Act") and may
                  not be offered or sold within the United States or to, or for
                  the account or benefit of, U.S. persons (i) as part of their
                  distribution at any time or (ii) otherwise until 40

                                       12

<PAGE>

                  days after the later of the date of the commencement of the
                  offering and the closing date, except in either case in
                  accordance with Regulation S (or Rule 144A if available) under
                  the Securities Act. Terms used above have the meanings given
                  to them by Regulation S."

         Terms used in this subsection (b) have the meanings given to them by
Regulation S.

         (c) Each Initial Purchaser severally agrees that it and each of its
affiliates has not entered and will not enter into any contractual arrangement
with respect to the distribution of the Offered Securities except with the prior
written consent of the Company.

         (d) Each Initial Purchaser severally agrees that it and each of its
affiliates will not offer or sell the Offered Securities in the United States by
means of any form of general solicitation or general advertising, within the
meaning of Rule 502(c) under the Securities Act, including, but not limited to
(i) any advertisement, article, notice or other communication published in any
newspaper, magazine or similar media or broadcast over television or radio, or
(ii) any seminar or meeting whose attendees have been invited by any general
solicitation or general advertising. Each Initial Purchaser severally agrees,
with respect to initial resales made in reliance on Rule 144A of any of the
Offered Securities, to deliver either with the confirmation of such resale or
otherwise prior to settlement of such resale a notice to the effect that the
resale of such Offered Securities has been made in reliance upon the exemption
from the registration requirements of the Securities Act provided by Rule 144A.

         (e) Each Initial Purchaser severally represents and agrees that (i) it
has not authorized the notes to be offered to the public in the United Kingdom,
within the meaning of the Public Offers of Securities Regulations 1995, as
amended, and (ii) no Offering Document may be passed on to any person in the
United Kingdom unless that person is of a kind described in Article 19 of the
Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 or is a
person to whom the document may otherwise lawfully be issued or passed on. The
Offering Document is only directed at persons having professional experience in
matters relating to investments and the offering described in the Offering
Document is only available to such persons and only such persons will be
permitted to participate in the offering. Persons who do not have professional
experience in matters relating to investments should not rely on the Offering
Document. All applicable provisions of the Financial Services and Markets Act
2000, as amended, must be complied with in respect of anything done in relation
to the notes in, from or otherwise involving the United Kingdom.

         5. Certain Agreements of the Company. The Company and each of the
Guarantors, jointly and severally, agree with the Initial Purchasers that:

                  (a) During such period as, in the opinion of Latham & Watkins,
         an Offering Document is required by law to be delivered in connection
         with Exempt Resales by the Initial Purchasers and in connection with
         market-making activities of the Initial Purchasers for so long as any
         Offered Securities are outstanding, the Company and each of the
         Guarantors will advise CSFBC promptly of any proposal to amend or
         supplement the Offering Document and will not effect such amendment or
         supplementation without CSFBC's consent (which consent shall not be
         unreasonably withheld). If, at any time

                                       13

<PAGE>

         prior to the completion of the resale of the Offered Securities by the
         Initial Purchasers any event occurs as a result of which the Offering
         Document as then amended or supplemented would include an untrue
         statement of a material fact or omit to state any material fact
         necessary in order to make the statements therein, in the light of the
         circumstances under which they were made, not misleading, or if it is
         necessary at any such time to amend or supplement the Offering Document
         to comply with any applicable law, the Company and each of the
         Guarantors promptly will notify CSFBC of such event and promptly will
         prepare, at its own expense, an amendment or supplement which will
         correct such statement or omission or effect such compliance. Neither
         CSFBC's consent to, nor the Initial Purchasers' delivery to offerees or
         investors of, any such amendment or supplement shall constitute a
         waiver of any of the conditions set forth in Section 6.

                  (b) The Company will furnish to CSFBC copies of the Offering
         Document and all amendments and supplements to such documents, in each
         case as soon as available and in such quantities as CSFBC requests.
         Subject to the Initial Purchasers' compliance with its representations
         and warranties and agreements set forth in Section 4 hereof, the
         Company and the Guarantors consent to the use of the Offering Document,
         and any amendments and supplements thereto required pursuant hereto, by
         the Initial Purchasers in connection with Exempt Resales. At any time
         when the Company is not subject to Section 13 or 15(d) of the Exchange
         Act, the Company will promptly furnish or cause to be furnished to
         CSFBC (and, upon request, to each of the other Initial Purchasers) and,
         upon request of holders and prospective purchasers of the Offered
         Securities, to such holders and purchasers, copies of the information
         required to be delivered to holders and prospective purchasers of the
         Offered Securities pursuant to Rule 144A(d)(4) under the Securities Act
         (or any successor provision thereto) in order to permit compliance with
         Rule 144A in connection with resales by such holders of the Offered
         Securities. The Company will pay the expenses of printing and
         distributing to the Initial Purchasers all such documents.

                  (c) The Company and each of the Guarantors will use its best
         efforts to arrange for the qualification of the Offered Securities for
         sale and the determination of their eligibility for investment under
         the laws of such jurisdictions in the United States as CSFBC reasonably
         designates and will continue such qualifications in effect so long as
         required for the resale of the Offered Securities by the Initial
         Purchasers provided that neither the Company nor any of the Guarantors
         will be required to qualify as a foreign corporation or otherwise
         subject itself to taxation in any state in which it is not otherwise so
         qualified or subject, nor shall any of them be required to file a
         general consent to service of process in any such state.

                  (d) During the period of ten years hereafter (or until the
         date of payment in full of the Offered Securities, if earlier), the
         Company and each of the Guarantors will furnish to CSFBC and, upon
         request, to each of the other Initial Purchasers as soon as practicable
         after the end of each fiscal year, a copy of its annual report to
         stockholders for such year; and the Company and each of the Guarantors
         will furnish to CSFBC and, upon request, to each of the other Initial
         Purchasers (i) as soon as available, a copy of each report and any
         definitive proxy statement of the Company and the Guarantors mailed to

                                       14

<PAGE>

         stockholders and (ii) from time to time, such other information
         concerning the Company or any of the Guarantors as CSFBC may reasonably
         request.

                  (e) During the period of two years after the Closing Date, the
         Company will, upon request, furnish to CSFBC, each of the other Initial
         Purchasers and any holder of Offered Securities a copy of the
         restrictions on transfer applicable to the Offered Securities.

                  (f) During the period of two years after the Closing Date, the
         Company and each of the Guarantors will not, and will not permit any of
         its affiliates (as defined in Rule 144 under the Securities Act) to,
         resell any of the Offered Securities that have been reacquired by any
         of them.

                  (g) During the period of two years after the Closing Date, the
         Company and each of the Guarantors will not be or become, an open-end
         investment company, unit investment trust or face-amount certificate
         company that is or is required to be registered under Section 8 of the
         Investment Company Act.

                  (h) The Company and each of the Guarantors, jointly and
         severally, agree to pay all expenses incidental to the performance of
         their obligations under this Agreement, the Indenture and the
         Registration Rights Agreement including (i) the fees and expenses of
         the Trustee and its professional advisors; (ii) all expenses in
         connection with the execution, issue, authentication, packaging and
         initial delivery of the Offered Securities and, as applicable, the
         Exchange Securities, the preparation and printing of this Agreement,
         the Registration Rights Agreement, the Offered Securities, the
         Indenture, the Offering Document and amendments and supplements
         thereto, and any other document relating to the issuance, offer, sale
         and delivery of the Offered Securities and as applicable the Exchange
         Securities; (iii) the cost of qualifying the Offered Securities for
         trading in The PortalSM Market ("PORTAL") of The Nasdaq National Market
         Inc. and any expenses incidental thereto, (iv) the cost of any
         advertising approved by the Company in connection with the issue of the
         Offered Securities; (v) for any expenses (including fees and
         disbursements of counsel) incurred in connection with qualification of
         the Offered Securities or the Exchange Securities for sale under the
         laws of such jurisdictions in the United States as CSFBC designates and
         the printing of memoranda relating thereto; (vi) for any fees charged
         by investment rating agencies for the rating of the Securities or the
         Exchange Securities; and (vii) for expenses incurred in distributing
         the Offering Document (including any amendments and supplements
         thereto) to the Initial Purchasers. The Company and each of the
         Guarantors will also pay or reimburse the Initial Purchasers for all
         travel expenses of the Initial Purchasers (to the extent incurred by
         them) and the Company's officers and employees and any other expenses
         of the Initial Purchasers and the Company in connection with attending
         or hosting meetings with prospective purchasers of the Offered
         Securities

                  (i) In connection with the offering, until CSFBC shall have
         notified the Company and the other Initial Purchasers of the completion
         of the resale of the Offered Securities, neither the Company nor any of
         its affiliates has or will, either alone or with one or more other
         persons, bid for or purchase for any account in which it or any of its
         affiliates has a beneficial interest any Offered Securities or attempt
         to induce any person to purchase any

                                       15

<PAGE>

         Offered Securities; and neither it nor any of its affiliates will make
         bids or purchases for the purpose of creating actual, or apparent,
         active trading in, or of raising the price of, the Offered Securities.

                  (j) For a period of 180 days after the date of the initial
         offering of the Offered Securities by the Initial Purchasers, the
         Company and each of the Guarantors, without the prior written consent
         of CSFBC, will not offer, sell, contract to sell, pledge, or otherwise
         dispose of, directly or indirectly, any United States
         dollar-denominated debt securities issued or guaranteed by the Company
         or any Guarantor and having a maturity of more than one year from the
         date of issue. Neither the Company nor any Guarantor will at any time
         offer, sell, contract to sell, pledge or otherwise dispose of, directly
         or indirectly, any securities under circumstances where such offer,
         sale, pledge, contract or disposition would cause the exemption
         afforded by Section 4(2) of the Securities Act or the safe harbor of
         Regulation S thereunder to cease to be applicable to the offer and sale
         of the Offered Securities.

                  (k) The Company and each of the Guarantors will apply the net
         proceeds from the sale of the Offered Securities to be sold by it
         hereunder substantially in accordance with the description set forth in
         the Offering Document under the caption "Use of Proceeds."

                  (l) Except as stated in this Agreement and in the Offering
         Document, neither the Company, any of the Guarantors nor any of their
         respective affiliates have taken, nor will any of them take, directly
         or indirectly, any action designed to or that might reasonably be
         expected to cause or result in stabilization or manipulation of the
         price of any security of the Company or any of the Guarantors to
         facilitate the sale or resale of the Offered Securities. Except as
         permitted by the Securities Act, the Company and each of the Guarantors
         will not distribute any offering material in connection with resales of
         the Offered Securities.

                  (m) The Company and each of the Guarantors will use their best
         efforts to permit the Offered Securities to be designated PORTAL
         securities in accordance with the rules and regulations adopted by the
         National Association of Securities Dealers, Inc. relating to trading in
         PORTAL and to permit the Offered Securities to be eligible for
         clearance and settlement through DTC.

                  (n) The Company and the Guarantors have complied and will
         comply with all provisions of Florida Statutes Section 517.075 relating
         to issuers doing business with Cuba.

                  (o) The Company and the Guarantors agree not to sell, offer
         for sale or solicit offers to buy or otherwise negotiate in respect of
         any security (as defined in the Securities Act), that would be
         integrated with the sale of the Offered Securities in a manner that
         would require the registration under the Securities Act of the sale to
         the Initial Purchasers or the resale of the Offered Securities.

                                       16

<PAGE>

                  (p) The Company and each of the Guarantors agree to comply
         with all the terms and conditions of the Registration Rights Agreement
         and all agreements set forth in the representation letters of the
         Company and each of the Guarantors to DTC relating to the approval of
         the Offered Securities by DTC for "book entry" transfer.

                  (q) The Company and each of the Guarantors agree that prior to
         any registration of the Offered Securities pursuant to the Registration
         Rights Agreement, or at such earlier time as may be required, the
         Indenture shall be qualified under the 1939 Act and any necessary
         supplemental indentures will be entered into in connection therewith.

                  (r) The Company and each of the Guarantors will not
         voluntarily claim, and will resist actively all attempts to claim, the
         benefit of any usury laws against holders of the Offered Securities.

                  (s) For so long as any of the Offered Securities are
         outstanding and if, in the reasonable judgment of the Initial
         Purchasers or Latham & Watkins, the Initial Purchasers or any of their
         affiliates (as defined in the rules and regulations under the
         Securities Act) are required to deliver a prospectus (any such
         prospectus, a "Market Making Prospectus") in connection with sales of
         the Offered Securities, to (i) provide the Initial Purchasers and their
         affiliates, without charge, as many copies of the Market Making
         Prospectus as they may reasonably request, (ii) periodically amend the
         Offering Document and the Exchange Offer Registration Statement so that
         the information contained therein complies with the requirements of
         Section 10(a) of the Securities Act, (iii) amend the Exchange Offer
         Registration Statement or amend or supplement the Market Making
         Prospectus when necessary to reflect any material changes in the
         information provided therein and promptly file such amendment or
         supplement with the Commission, (iv) provide the Initial Purchasers and
         their affiliates with copies of each amendment or supplement so filed
         and such other documents, including opinions of counsel and "comfort"
         letters, as they may reasonably request and (v) indemnify the Initial
         Purchasers and their affiliates with respect to the Market Making
         Prospectus and, if applicable, contribute to any amount paid or payable
         by the Initial Purchasers and their affiliates in a manner
         substantially identical to that specified in Section 7 hereof (with
         appropriate modifications). The Company and each of the Guarantors
         consent to the use, subject to the provisions of the Securities Act and
         the state securities or Blue Sky laws of the jurisdictions in which the
         Offered Securities are offered by the Initial Purchasers, of each
         Market Making Prospectus.

                  (t) The Company and each of the Guarantors will do and perform
         all things required or necessary to be done and performed under this
         Agreement by them prior to the Closing Date, and to satisfy all
         conditions precedent to the Initial Purchasers' obligations hereunder
         to purchase the Offered Securities.

         6. Conditions of the Obligations of the Initial Purchasers. The
obligations of the several Initial Purchasers to purchase and pay for the
Offered Securities on the Closing Date will be subject to the accuracy of the
representations and warranties on the part of the Company and each of the
Guarantors herein, to the accuracy of the statements of officers of the Company
and each of the Guarantors made pursuant to the provisions hereof, to the
performance by the Company and each of

                                       17

<PAGE>

the Guarantors of their respective obligations hereunder and to the following
additional conditions precedent:

                  (a) The Initial Purchasers shall have received a letter, dated
         the date of this Agreement, of PricewaterhouseCoopers LLP in form and
         substance satisfactory to the Initial Purchasers concerning the
         financial information set forth in the Offering Document.

                  (b) Subsequent to the execution and delivery of this
         Agreement, there shall not have occurred (i) a change in U.S. or
         international financial, political or economic conditions or currency
         exchange rates or exchange controls as would, in the judgment of CSFBC,
         be likely to prejudice materially the success of the proposed issue,
         sale or distribution of the Offered Securities, whether in the primary
         market or in respect of dealings in the secondary market, or (ii) (A)
         any change, or any development or event involving a prospective change,
         in the condition (financial or other), business, properties or results
         of operations of the Company, any of the Guarantors and their
         respective subsidiaries which, in the judgment of a majority in
         interest of the Initial Purchasers including CSFBC, is so material and
         adverse as to make it impractical or inadvisable to proceed with
         completion of the offering or the sale of and payment for the Offered
         Securities; (B) any downgrading in the rating of any debt securities of
         the Company by any "nationally recognized statistical rating
         organization" (as defined for purposes of Rule 436(g) under the
         Securities Act), or any public announcement that any such organization
         has under surveillance or review its rating of any debt securities of
         the Company (other than an announcement with positive implications of a
         possible upgrading, and no implication of a possible downgrading, of
         such rating) or any announcement that the Company has been placed on
         negative outlook; (C) any material suspension or material limitation of
         trading in securities generally on the New York Stock Exchange or any
         setting of minimum prices for trading on such exchange, or any
         suspension of trading of any securities of the Company on any exchange
         or in the over-the-counter market; (D) any banking moratorium declared
         by U.S. Federal or New York authorities; (E) any major disruption of
         settlements of securities; or (F) any attack on, any outbreak or
         escalation of hostilities or acts of terrorism involving the United
         States, any declaration of war by Congress or any other national or
         international calamity or emergency if, in the judgment of a majority
         in interest of the Purchasers including CSFBC, the effect of any such
         attack, outbreak, escalation, act, declaration, calamity or emergency
         makes it impractical or inadvisable to proceed with completion of the
         offering or the sale of and payment for the Offered Securities.

                  (c) The Initial Purchasers shall have received an opinion,
         dated the Closing Date, of Hutchins, Wheeler & Dittmar, a Professional
         Corporation counsel for the Company, in form and substance satisfactory
         to the Initial Purchasers, to the effect that:

                      (i) The Company and each of the Delaware Guarantors is a
                  validly existing corporation in good standing under the laws
                  of the jurisdiction of its incorporation, with corporate power
                  and authority to own its properties and conduct its business
                  as described in the Offering Document; and, based solely on
                  certificates of public officials, the Company and each of the
                  Delaware Guarantors are duly qualified to do business as a
                  foreign corporation in good standing in all other
                  jurisdictions

                                       18

<PAGE>

                  identified by the Company (x) in which its ownership or lease
                  of property or the conduct of its business requires such
                  qualification, and (y) where the failure to so qualify could
                  reasonably be anticipated to result in a Material Adverse
                  Effect.

                      (ii)   The Offered Securities have been duly authorized,
                  executed, authenticated and delivered by the Company and
                  conform in all material respects to the description thereof
                  contained in the Offering Document.

                      (iii)  The Indenture has been duly authorized, executed
                  and delivered by the Company and each of the Delaware
                  Guarantors.

                      (iv)   The Indenture conforms in all material respects to
                  the requirements of the Trust Indenture Act, and the rules and
                  regulations of the Commission applicable to an indenture which
                  is qualified thereunder.

                      (v)    The Exchange Notes have been duly authorized by the
                  Company.

                      (vi)   The Guarantee to be endorsed on the Offered
                  Securities by each of the Delaware Guarantors has been duly
                  authorized by each such Delaware Guarantor, and has been duly
                  executed and delivered by each such Delaware Guarantor and
                  conforms to the description thereof contained in the Offering
                  Document.

                      (vii)  The Exchange Guarantee to be endorsed on the
                  Exchange Notes by each Delaware Guarantor has been duly
                  authorized by each such Delaware Guarantor.

                      (viii) The Company is not and, after giving effect to the
                  offering and sale of the Offered Securities and the
                  application of the proceeds thereof as described in the
                  Offering Circular, will not be an "investment company" as
                  defined in the Investment Company Act of 1940.

                      (ix)   No consent, approval, authorization or order of, or
                  filing with, any governmental agency or body or any court is
                  required to be obtained or made by the Company or any Delaware
                  Guarantor for the consummation of the transactions
                  contemplated by this Agreement or the Registration Rights
                  Agreement in connection with the issuance or sale of the
                  Offered Securities by the Company or any Delaware Guarantor,
                  except such as may be required under state securities laws and
                  except for the order of the Commission declaring the Exchange
                  Offer Registration Statement or the Shelf Registration
                  Statement effective.

                      (x)    The execution, delivery and performance of the
                  Indenture, this Agreement and the Registration Rights
                  Agreement and the issuance and sale of the Offered Securities
                  and compliance with the terms and provisions thereof will not
                  result in a breach or violation of any of the terms and
                  provisions of, or constitute a default under, any statute,
                  rule, regulation or, to such counsel's knowledge, order of any
                  governmental agency or body or any court having jurisdiction
                  over the Company

                                       19

<PAGE>

                  or any of the Delaware Guarantors or any of their respective
                  properties, or any agreement identified to such counsel by the
                  Company as material and listed on a Schedule attached to such
                  counsel's opinion to which the Company or any of the Delaware
                  Guarantors is a party or by which the Company or any of the
                  Delaware Guarantors is bound or to which any of the properties
                  of the Company or any of the Delaware Guarantors is subject,
                  or the charter or by-laws of the Company or any of the
                  Delaware Guarantors, and the Company and each of the Delaware
                  Guarantors has full corporate power and authority to
                  authorize, issue and sell the Offered Securities as
                  contemplated by this Agreement.

                      (xi)   Such counsel have no reason to believe that the
                  Offering Circular, or any amendment or supplement thereto, as
                  of the date hereof and as of the Closing Date, contained any
                  untrue statement of a material fact or omitted to state any
                  material fact necessary to make the statements therein, in the
                  light of the circumstances under which they were made, not
                  misleading; it being understood that such counsel need express
                  no opinion as to the financial statements or other financial
                  or accounting information contained in the Offering Circular.

                      (xii)  This Agreement and the Registration Rights
                  Agreement have each been duly authorized, executed and
                  delivered by the Company and each of the Delaware Guarantors.

                      (xiii) When the Offered Securities are issued and
                  delivered pursuant to this Agreement, such Offered Securities
                  will not be of the same class (within the meaning of Rule 144A
                  under the Securities Act), as any securities of the Company or
                  any Guarantor that are listed on a national securities
                  exchange registered under Section 6 of the Exchange Act or
                  that are quoted in a United States automated inter-dealer
                  quotation system.

                      (xiv)  The Offering Document complied with the
                  requirements of Rule 144A of the Securities Act (except for
                  the financial statements and the notes thereto and schedules
                  included therein, as to which no opinion need be expressed).

                      (xv)   There are no preemptive or other rights to
                  subscribe for or to purchase, nor any restriction upon the
                  voting or transfer of, any securities pursuant to the
                  Company's charter or by-laws or any agreement or other
                  instrument known to such counsel.

                      (xvi)  It is not necessary in connection with (i) the
                  offer, sale and delivery of the Offered Securities by the
                  Company and each of the Guarantors to the Initial Purchasers
                  pursuant to this Agreement or (ii) the initial resales of the
                  Offered Securities by the Initial Purchasers in the manner
                  contemplated by this Agreement to register the Offered
                  Securities under the Securities Act or to qualify an indenture
                  in respect thereof under the Trust Indenture Act.

                      (xvii) The statements contained in the Offering Document
                  under the caption "Description of the Notes" in so far as they
                  purport to constitute a summary of

                                       20

<PAGE>

                  the terms of the Offered Securities and under the captions
                  "Certain Relationships and Related Party Transactions,"
                  "Certain United States Federal Income Tax Considerations" and
                  "Plan of Distribution," insofar as they describe the laws and
                  documents referred therein, are accurate in all material
                  respects.

                      (xiii) The Credit Agreement has been duly authorized,
                  executed and delivered by the Company and each of the
                  Guarantors; and the Credit Agreement constitutes a valid and
                  legally binding obligation of the Company and each of the
                  Guarantors enforceable against the Company and each of the
                  Guarantors in accordance with its terms, subject to
                  bankruptcy, insolvency, fraudulent transfer, reorganization,
                  moratorium and similar laws of general applicability relating
                  to or affecting creditors' rights and to general equity
                  principles (whether considered in a proceeding in equity or at
                  law), or an implied covenant of good faith and fair dealing
                  and except with respect to the rights of indemnification and
                  contribution thereunder, where enforcement thereof may be
                  limited by state or federal securities laws or the policies
                  underlying such laws.

                  (d) The Initial Purchasers shall have received an opinion,
         dated the Closing Date, of Orrick, Herrington & Sutcliffe LLP, New York
         counsel for the Company, that:

                      (i)    The Offered Securities constitute valid and legally
                  binding obligations of the Company entitled to the benefits of
                  the Indenture, enforceable against the Company in accordance
                  with their terms, subject to the qualification that the
                  enforceability of the Company's obligations thereunder may be
                  limited by bankruptcy, fraudulent conveyance, insolvency,
                  reorganization, moratorium, and other laws relating to or
                  affecting creditors' rights generally and by general equitable
                  principles (whether considered in a proceeding in equity or at
                  law) and an implied covenant of good faith and fair dealing.

                      (ii)   The Indenture constitutes a valid and legally
                  binding obligation of the Company and each of the Guarantors
                  enforceable against the Company and each of the Guarantors in
                  accordance with its terms, subject to bankruptcy, insolvency,
                  fraudulent transfer, reorganization, moratorium and similar
                  laws of general applicability relating to or affecting
                  creditors' rights and to general equity principles (whether
                  considered in a proceeding in equity or at law) and an implied
                  covenant of good faith and fair dealing.

                      (iii)  At such time as the Exchange Notes are issued,
                  executed, authenticated and delivered in accordance with the
                  terms of the Exchange Offer and the Indenture, the Exchange
                  Notes will be entitled to the benefits of the Indenture and
                  will be the valid and legally binding obligations of the
                  Company, enforceable against the Company in accordance with
                  their terms, subject to bankruptcy, insolvency, fraudulent
                  transfer, reorganization, moratorium and similar laws of
                  general applicability relating to or affecting creditors'
                  rights and to general equity principles (whether considered in
                  a proceeding in equity or at law) and an implied covenant of
                  good faith and fair dealing.

                                       21

<PAGE>

                      (iv) When the Offered Securities have been issued,
                  executed and authenticated in accordance with the Indenture
                  and delivered to and paid for by the Initial Purchasers in
                  accordance with the terms of this Agreement, the Guarantee of
                  each Guarantor endorsed thereon will constitute the valid and
                  legally binding obligation of such Guarantor, enforceable
                  against such Guarantor in accordance with its terms, subject
                  to bankruptcy, insolvency, fraudulent transfer,
                  reorganization, moratorium and similar laws of general
                  applicability relating to or affecting creditors' rights and
                  to general equity principles (whether considered in a
                  proceeding in equity or at law) and an implied covenant of
                  good faith and fair dealing.

                      (v)  At such time as the Exchange Notes have been issued,
                  executed, authenticated and delivered in accordance with the
                  terms of the Exchange Offer and the Indenture, and upon the
                  due execution and delivery of the Exchange Guarantee by each
                  such Guarantor in a form substantially identical to the
                  Guarantee, the Exchange Guarantee of each Guarantor so
                  endorsed thereon will constitute the valid and legally binding
                  obligation of such Guarantor, enforceable against such
                  Guarantor in accordance with its terms, subject to bankruptcy,
                  insolvency, fraudulent transfer, reorganization, moratorium
                  and similar laws of general applicability relating to or
                  affecting creditors' rights and to general equity principles
                  (whether considered in a proceeding in equity or at law) and
                  an implied covenant of good faith and fair dealing.

                      (vi) This Agreement and the Registration Rights Agreement
                  each constitutes a valid and binding agreement of the Company
                  and each of the Guarantors enforceable against the Company and
                  each of the Guarantors in accordance with its terms, subject
                  to the effects of bankruptcy, insolvency, fraudulent
                  conveyance, reorganization, moratorium and other similar laws
                  relating to or affecting creditors' rights generally, general
                  equitable principles (whether considered in a proceeding in
                  equity or at law), or an implied covenant of good faith and
                  fair dealing and except with respect to the rights of
                  indemnification and contribution thereunder, where enforcement
                  thereof may be limited by state or federal securities laws or
                  the policies underlying such laws.

..
                  (e) The Initial Purchasers shall have received an opinion,
         dated the Closing Date, of Bearnson & Peck, L.C., Utah counsel for the
         Company, that:

                      (i)  Each of the Utah Guarantors has been duly
                  incorporated and is a validly existing corporation under the
                  laws of the State of Utah, with corporate power and authority
                  to own its properties and conduct its business as described in
                  the Offering Document; and each such Utah Guarantor is duly
                  qualified to do business as a foreign corporation in good
                  standing in all other jurisdictions identified by the Company
                  (x) in which its ownership or lease of property or the conduct
                  of its business requires such qualification, and (y) where the
                  failure to so qualify could reasonably be anticipated to
                  result in a Material Adverse Effect.

                                       22

<PAGE>

                      (ii)  The Indenture has been duly authorized, executed and
                  delivered by each of the Utah Guarantors.

                      (iii) The Guarantee to be endorsed on the Offered
                  Securities by each of the Utah Guarantors has been duly
                  authorized by each such Utah Guarantor, and has been duly
                  executed and delivered by each such Utah Guarantor, and
                  conforms to the description thereof contained in the Offering
                  Document.

                      (iv)  The Exchange Guarantee to be endorsed on the
                  Exchange Notes by each Utah Guarantor has been duly authorized
                  by each such Utah Guarantor.

                      (v)   No consent, approval, authorization or order of, or
                  filing with, any governmental agency or body or any court is
                  required to be obtained or made by any of the Utah Guarantors
                  for the consummation of the transactions contemplated by this
                  Agreement or the Registration Rights Agreement in connection
                  with the issuance or sale of the Offered Securities by the
                  Utah Guarantors, except such as may be required under state
                  securities laws and except for the order of the Commission
                  declaring the Exchange Offer Registration Statement or the
                  Shelf Registration Statement effective.

                      (vi)  The execution, delivery and performance of the
                  Indenture, this Agreement and the Registration Rights
                  Agreement and the issuance and sale of the Offered Securities
                  and compliance with the terms and provisions thereof will not
                  result in a breach or violation of any of the terms and
                  provisions of, or constitute a default under, any statute,
                  rule, regulation or, to such counsel's knowledge, order of any
                  governmental agency or body or any court having jurisdiction
                  over any of the Utah Guarantors, or any of their respective
                  properties, or any agreement identified to such counsel by the
                  Company as material and listed on a Schedule attached to such
                  counsel's opinion to which any of the Utah Guarantors is a
                  party or by which any of the Utah Guarantors is bound or to
                  which any of the properties of the Utah Guarantors is subject,
                  or the charter or by-laws of any of the Utah Guarantors, and
                  each of the Utah Guarantors has full corporate power and
                  authority to authorize, issue and sell the Offered Securities
                  as contemplated by this Agreement.

                      (vii) This Agreement and the Registration Rights Agreement
                  have each been duly authorized, executed and delivered by each
                  of the Utah Guarantors.

                  (f) The Initial Purchasers shall have received an opinion,
         dated the Closing Date, Brad Bearnson, Esq., general counsel to the
         Company, that:

                      (i)   None of the Utah Guarantors (i) is in violation of
                  its respective charter or by-laws; or (ii) to such counsel's
                  knowledge, is in default, and no event has occurred which,
                  with notice or lapse of time or both would constitute such
                  default, in the due performance or observance of any
                  obligation, agreement, covenant or condition contained in any
                  material indenture, loan agreement, mortgage, deed of trust,
                  lease or other agreement or instrument to which it is a party
                  or by which it is bound or to which any of its properties or
                  assets is subject,

                                       23

<PAGE>

                  and which such agreements are set forth on a Schedule attached
                  to such counsel's opinion.

                      (ii)  Except as described or referred to in the Offering
                  Document, there are no pending actions, suits or proceedings
                  against or, to the Company's knowledge, affecting the Company,
                  any of the Guarantors, any of their respective subsidiaries or
                  any of their respective properties that, if determined
                  adversely to the Company, any of the Guarantors or any of
                  their respective subsidiaries, would individually or in the
                  aggregate, reasonably be expected to have a Material Adverse
                  Effect, or would reasonably be expected to materially and
                  adversely affect the ability of the Company or any of the
                  Guarantors to perform their obligations under the Indenture,
                  this Agreement or the Registration Rights Agreement, or which
                  are otherwise material in the context of the sale of the
                  Offered Securities; and to such counsel's knowledge, no such
                  actions, suits or proceedings are threatened or contemplated.

                      (iii) There are no contracts, agreements or understandings
                  between the Company or any Guarantor and any person (other
                  than the Registration Rights Agreement and the registration
                  rights agreement entered into by the Company in connection
                  with the issuance of the Company's 12% Senior Subordinated
                  Notes due 2005) granting such person the right to require the
                  Company or such Guarantor to file a registration statement
                  under the Securities Act with respect to any securities of the
                  Company or such Guarantor owned or to be owned by such person
                  or to require the Company or such Guarantor to include such
                  securities with the Offered Securities and the Guarantees
                  registered pursuant to the Registration Rights Agreement or in
                  any securities being registered pursuant to any other
                  registration statement filed by the Company or any Guarantor
                  under the Securities Act.

                  (g) The Initial Purchasers shall have received an opinion,
         dated the Closing Date, of Holmested & Associes, special Quebec counsel
         for the Company, that:

                      (i)   ICON Canada has been duly incorporated and is a
                  validly existing corporation in good standing under the laws
                  of the province of Quebec, with corporate power and authority
                  to own its properties and conduct its business as described in
                  the Offering Document; and such subsidiary is duly qualified
                  to do business as a foreign corporation in good standing in
                  all other jurisdictions identified by the Company (x) in which
                  its ownership or lease of property or the conduct of its
                  business requires such qualification, and (y) where the
                  failure to so qualify could reasonably be anticipated to
                  result in a Material Adverse Effect.

                      (ii)  The Indenture has been duly authorized, executed and
                  delivered by ICON Canada.

                      (iii) The Guarantee to be endorsed on the Offered
                  Securities by ICON Canada has been duly authorized by ICON
                  Canada, and has been duly executed

                                       24

<PAGE>

                  and delivered by ICON Canada, and conforms to the description
                  thereof contained in the Offering Document.

                      (iv)  The Exchange Guarantee to be endorsed on the
                  Exchange Notes by ICON Canada has been duly authorized by ICON
                  Canada.

                      (v)   No consent, approval, authorization or order of, or
                  filing with, any governmental agency or body or any court is
                  required to be obtained or made by ICON Canada for the
                  consummation of the transactions contemplated by this
                  Agreement or the Registration Rights Agreement in connection
                  with the issuance or sale of the Offered Securities by ICON
                  Canada, except such as may be required under state securities
                  laws and except for the order of the Commission declaring the
                  Exchange Offer Registration Statement or the Shelf
                  Registration Statement effective.

                      (vi)  The execution, delivery and performance of the
                  Indenture, this Agreement and the Registration Rights
                  Agreement and the issuance and sale of the Offered Securities
                  and compliance with the terms and provisions thereof will not
                  result in a breach or violation of any of the terms and
                  provisions of, or constitute a default under, any statute,
                  rule, regulation or order of any governmental agency or body
                  or any court having jurisdiction over ICON Canada, or any of
                  its properties, or any agreement identified to such counsel by
                  the Company and listed on a Schedule to such counsel's opinion
                  to which ICON Canada is a party or by which ICON Canada is
                  bound or to which any of the properties of ICON Canada is
                  subject, or the charter or by-laws of ICON Canada, and ICON
                  Canada has full power and authority to authorize, issue and
                  sell the Offered Securities as contemplated by this Agreement.

                      (vii) This Agreement and the Registration Rights Agreement
                  have each been duly authorized, executed and delivered by ICON
                  Canada.

                  (h) The Initial Purchasers shall have received an opinion,
         dated the Closing Date, of McInnes, Cooper & Robertson, special New
         Brunswick counsel for the Company, that:

                      (i)   N.B. Ltd. has been duly incorporated and is a
                  validly existing corporation in good standing under the laws
                  of the province of New Brunswick, with corporate power and
                  authority to own its properties and conduct its business as
                  described in the Offering Document; and N.B. Ltd. is duly
                  qualified to do business as a foreign corporation in good
                  standing in all other jurisdictions identified by the Company
                  (x) in which its ownership or lease of property or the conduct
                  of its business requires such qualification, and (y) where the
                  failure to so qualify could reasonably be anticipated to
                  result in a Material Adverse Effect.

                      (ii)  The Indenture has been duly authorized, executed and
                  delivered by N.B. Ltd.

                                       25

<PAGE>

               (iii) The Guarantee to be endorsed on the Offered Securities by
          N.B. Ltd. has been duly authorized by N.B. Ltd., and has been duly
          executed and delivered by N.B. Ltd., and conforms to the description
          thereof contained in the Offering Document.

               (iv)  The Exchange Guarantee to be endorsed on the Exchange Notes
          by N.B. Ltd. has been duly authorized by N.B. Ltd.

               (v)   No consent, approval, authorization or order of, or filing
          with, any governmental agency or body or any court is required to be
          obtained or made by N.B. Ltd. for the consummation of the transactions
          contemplated by this Agreement or the Registration Rights Agreement in
          connection with the issuance or sale of the Offered Securities by N.B.
          Ltd., except such as may be required under state securities laws and
          except for the order of the Commission declaring the Exchange Offer
          Registration Statement or the Shelf Registration Statement effective.

               (vi)  The execution, delivery and performance of the Indenture,
          this Agreement and the Registration Rights Agreement and the issuance
          and sale of the Offered Securities and compliance with the terms and
          provisions thereof will not result in a breach or violation of any of
          the terms and provisions of, or constitute a default under, any
          statute, rule, regulation or order of any governmental agency or body
          or any court having jurisdiction over N.B. Ltd., or any of its
          properties, or any agreement identified to such counsel by the Company
          and listed on a Schedule to such counsel's opinion to which N.B. Ltd.
          is a party or by which N.B. Ltd. is bound or to which any of the
          properties of N.B. Ltd. is subject, or the charter or by-laws of N.B.
          Ltd., and N.B. Ltd. has full power and authority to authorize, issue
          and sell the Offered Securities as contemplated by this Agreement.

               (vii) This Agreement and the Registration Rights Agreement have
          each been duly authorized, executed and delivered by N.B. Ltd.

          (i)  The Initial Purchasers shall have received from Latham & Watkins,
     counsel for the Initial Purchasers, such opinion or opinions, dated the
     Closing Date, with respect to the incorporation of the Company, the
     validity of the Offered Securities, the Offering Document, the exemption
     from registration for the offer and sale of the Offered Securities by the
     Company to the Initial Purchasers and the resales by the several Initial
     Purchasers as contemplated hereby and other related matters as CSFBC may
     require, and the Company and each of the Guarantors shall have furnished to
     such counsel such documents as they request for the purpose of enabling
     them to pass upon such matters.

          (j)  The Initial Purchasers shall have received a certificate, dated
     the Closing Date, of the President or any Vice President and a principal
     financial or accounting officer of the Company and each of the Guarantors
     in which such officers, to the best of their knowledge after reasonable
     investigation, shall state that the representations and warranties of the
     Company and each of the Guarantors in this Agreement are true and correct,
     that the Company and each of the Guarantors has complied with all
     agreements and satisfied all

                                       26

<PAGE>

     conditions on its part to be performed or satisfied hereunder at or prior
     to the Closing Date, and that, subsequent to the respective dates of the
     most recent financial statements in the Offering Document there has been no
     material adverse change, nor any development or event involving a
     prospective material adverse change, in the condition (financial or other),
     business, properties or results of operations of the Company, any of the
     Guarantors or any of their respective subsidiaries taken as a whole except
     as set forth in or contemplated by the Offering Document or as described in
     such certificate and such other matters as CSFBC may require.

          (k)  The Initial Purchasers shall have received a letter, dated the
     Closing Date, of PricewaterhouseCoopers LLP which meets the requirements of
     subsection (a) of this Section 6, except that the specified date referred
     to in such subsection will be a date not more than three days prior to the
     Closing Date for the purposes of this subsection.

          (l)  The Company shall have given notice of redemption to each holder
     of the Company's 12% Senior Subordinated Notes due 2005 prior to, or
     simultaneously with, the Closing Date, or made such other arrangements with
     respect to the redemption of such notes, as shall be reasonably
     satisfactory to the Initial Purchasers.

          (m)  The Company shall have consummated the Credit Agreement prior to,
     or simultaneously with, the Closing Date on substantially the same terms
     described in the Offering Document and the Initial Purchasers shall have
     received counterparts, conformed as executed, of the Credit Agreement and
     such other documentation as they deem necessary to evidence the
     consummation thereof.

The Company and each of the Guarantors will furnish the Initial Purchasers with
such conformed copies of such opinions, certificates, letters and documents as
the Initial Purchasers reasonably requests. CSFBC may in its sole discretion
waive on behalf of the Initial Purchasers compliance with any conditions to the
obligations of the Initial Purchasers hereunder

     7.   Indemnification and Contribution. (a) The Company and each of the
Guarantors, jointly and severally, shall indemnify and hold harmless the Initial
Purchasers, its partners, directors and officers and each person, if any, who
controls the Initial Purchasers within the meaning of Section 15 of the
Securities Act, against any losses, claims, damages or liabilities, joint or
several, to which the Initial Purchasers may become subject, under the
Securities Act or the Exchange Act or otherwise, insofar as such losses, claims,
damages or liabilities (or actions in respect thereof) arise out of or are based
upon any breach of any of the representations and warranties of the Company or
any of the Guarantors contained herein or any untrue statement or alleged untrue
statement of any material fact contained in the Offering Document, or any
amendment or supplement thereto, or any related preliminary offering circular,
or arise out of or are based upon the omission or alleged omission to state
therein a material fact required to be stated therein or necessary in order to
make the statements therein, in the light of the circumstances under which they
were made, not misleading, including any losses, claims, damages or liabilities
arising out of or based upon the Company's or any of the Guarantor's failure to
perform its obligations under Section 5(a) of this Agreement, and will reimburse
the Initial Purchasers for any legal or other expenses reasonably incurred by
the Initial Purchasers in connection with investigating or defending any such
loss, claim, damage, liability or action as such expenses are incurred;
provided, however,

                                       27

<PAGE>

that (i) neither the Company nor any Guarantor shall be liable in any such case
to the extent that any such loss, claim, damage or liability arises out of or is
based upon an untrue statement or alleged untrue statement in or omission or
alleged omission from any of such documents in reliance upon and in conformity
with written information furnished to the Company or any of the Guarantors by
any Initial Purchaser through CSFBC specifically for use therein, it being
understood and agreed that the only such information consists of the information
described as such in subsection (b) below and (ii) with respect to any untrue
statement or alleged untrue statement in or omission or alleged omission from
the Preliminary Offering Circular, the indemnity agreement contained in this
Section 7(a) shall not inure to the benefit of any Initial Purchaser (or any
partner, director or officer of such Initial Purchaser or any person who
controls such Initial Purchaser) from whom the person asserting any such loss,
claim, damage or liability purchased the Offered Securities concerned in any
initial resale of the Offered Securities by such Initial Purchaser, to the
extent that any such loss, claim, damage or liability occurs under the
circumstance where it shall have be determined by a court of competent
jurisdiction that (A) the untrue statement or alleged untrue statement in or
omission or alleged omission from the Preliminary Offering Circular was
corrected in the Offering Circular, (B) the Company had previously furnished
copies of the Offering Circular to the Initial Purchasers and (C) the person
asserting such loss, claim, damage or liability was not sent or given a copy of
the Offering Circular at or prior to the written confirmation of the sale of
such Offered Securities.

     (b)  Each Initial Purchaser shall severally and not jointly indemnify and
hold harmless the Company and each of the Guarantors, their respective directors
and officers and each person, if any, who controls the Company or any of the
Guarantors within the meaning of Section 15 of the Securities Act, against any
losses, claims, damages or liabilities to which the Company or any of the
Guarantors may become subject, under the Securities Act or the Exchange Act or
otherwise, insofar as such losses, claims, damages or liabilities (or actions in
respect thereof) arise out of or are based upon any untrue statement or alleged
untrue statement of any material fact contained in the Offering Document, or any
amendment or supplement thereto, or any related preliminary offering circular,
or arise out of or are based upon the omission or the alleged omission to state
therein a material fact required to be stated therein or necessary in order to
make the statements therein, in the light of the circumstances under which they
were made, not misleading, in each case to the extent, but only to the extent,
that such untrue statement or alleged untrue statement or omission or alleged
omission was made in reliance upon and in conformity with written information
furnished to the Company or any of the Guarantors by such Initial Purchaser
through CSFBC specifically for use therein, and will reimburse any legal or
other expenses reasonably incurred by the Company and any Guarantor in
connection with investigating or defending any such loss, claim, damage,
liability or action as such expenses are incurred, it being understood and
agreed that the only such information furnished by any Initial Purchaser consist
of the following information in the Offering Document furnished by the Initial
Purchasers: the third, fifth, tenth and fourteenth paragraphs under the caption
"Plan of Distribution;" provided however, that the Initial Purchasers shall not
be liable for any losses, claims, damages or liabilities arising out of or based
upon the Company's or any of the Guarantor's failure to perform their respective
obligations under Section 5(a) of this Agreement.

     (c)  Promptly after receipt by an indemnified party under this Section of
notice of the commencement of any action, such indemnified party will, if a
claim in respect thereof is to be made against the indemnifying party under
subsection (a) or (b) above, notify the indemnifying party of the commencement
thereof; but the omission so to notify the indemnifying party will not

                                       28

<PAGE>

relieve it from any liability which it may have to any indemnified party
otherwise than under subsection (a) or (b) above except to the extent that it
has been materially prejudiced by such failure. In case any such action is
brought against any indemnified party and it notifies the indemnifying party of
the commencement thereof, the indemnifying party will be entitled to participate
therein and, to the extent that it may wish, jointly with any other indemnifying
party similarly notified, to assume the defense thereof, with counsel
satisfactory to such indemnified party (who shall not, except with the consent
of the indemnified party, be counsel to the indemnifying party), and after
notice from the indemnifying party to such indemnified party of its election so
to assume the defense thereof, the indemnifying party will not be liable to such
indemnified party under this Section 7 for any legal or other expenses
subsequently incurred by such indemnified party in connection with the defense
thereof other than reasonable costs of investigation. No indemnifying party
shall, without the prior written consent of the indemnified party (which consent
shall not be unreasonably withheld), effect any settlement of any pending or
threatened action in respect of which any indemnified party is or could have
been a party and indemnity could have been sought hereunder by such indemnified
party unless such settlement includes (i) an unconditional release of such
indemnified party from all liability on any claims that are the subject matter
of such action and (ii) does not include a statement as to or an admission of
fault, culpability or failure to act by or on behalf of any indemnified party.

     (d)  If the indemnification provided for in this Section 7 is unavailable
or insufficient to hold harmless an indemnified party under subsection (a) or
(b) above, then each indemnifying party shall contribute to the amount paid or
payable by such indemnified party as a result of the losses, claims, damages or
liabilities referred to in subsection (a) or (b) above (i) in such proportion as
is appropriate to reflect the relative benefits received by the Company and the
Guarantors on the one hand and the Initial Purchasers on the other from the
offering of the Offered Securities or (ii) if the allocation provided by clause
(i) above is not permitted by applicable law, in such proportion as is
appropriate to reflect not only the relative benefits referred to in clause (i)
above but also the relative fault of the Company and the Guarantors on the one
hand and the Initial Purchasers on the other in connection with the statements
or omissions which resulted in such losses, claims, damages or liabilities as
well as any other relevant equitable considerations. The relative benefits
received by the Company and the Guarantors on the one hand and the Initial
Purchasers on the other shall be deemed to be in the same proportion as the
total net proceeds from the offering (before deducting expenses) received by the
Company and the Guarantors bear to the total discounts and commissions received
by the Initial Purchasers from the Company and each of the Guarantors under this
Agreement. The relative fault shall be determined by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact or the
omission or alleged omission to state a material fact relates to information
supplied by the Company, any Guarantor or the Initial Purchasers and the
parties' relative intent, knowledge, access to information and opportunity to
correct or prevent such untrue statement or omission. No person guilty of
fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act or any comparable provision of any other securities law) shall be
entitled to contribution from any person who is not guilty of such fraudulent
misrepresentation. The amount paid by an indemnified party as a result of the
losses, claims, damages or liabilities referred to in the first sentence of this
subsection (d) shall be deemed to include any legal or other expenses reasonably
incurred by such indemnified party in connection with investigating or defending
any action or claim which is the subject of this subsection (d). Notwithstanding
the provisions of this subsection (d), no Initial Purchasers shall not be
required to contribute any amount in excess of the amount by which the total
discounts, fees and

                                       29

<PAGE>

commissions received by such Initial Purchaser exceeds the amount of any damages
which such Initial Purchaser has otherwise been required to pay by reason of
such untrue or alleged untrue statement or omission or alleged omission. The
Initial Purchasers' obligations in this subsection (d) to contribute are several
in proportion to their respective purchase obligations and not joint.

     (e)  The obligations of the Company and each Guarantor under this Section 7
shall be in addition to any liability which the Company and each Guarantor may
otherwise have and shall extend, upon the same terms and conditions, to each
person, if any, who controls the Initial Purchasers within the meaning of the
Securities Act or the Exchange Act; and the obligations of the Initial
Purchasers under this Section 7 shall be in addition to any liability which the
Initial Purchasers may otherwise have and shall extend, upon the same terms and
conditions, to each person, if any, who controls the Company and the Guarantors
within the meaning of the Securities Act or the Exchange Act.

     8.   Default of Initial Purchasers. If any Initial Purchaser or Initial
Purchasers default in their obligations to purchase Offered Securities hereunder
and the aggregate principal amount of Offered Securities that such defaulting
Initial Purchaser or Initial Purchasers agreed but failed to purchase does not
exceed 10% of the total principal amount of Offered Securities, CSFBC may make
arrangements satisfactory to the Company for the purchase of such Offered
Securities by other persons, including any of the Initial Purchasers, but if no
such arrangements are made by the Closing Date, the non-defaulting Initial
Purchasers shall be obligated severally, in proportion to their respective
commitments hereunder, to purchase the Offered Securities that such defaulting
Initial Purchasers agreed but failed to purchase. If any Initial Purchaser or
Initial Purchasers so default and the aggregate principal amount of Offered
Securities with respect to which such default or defaults occur exceeds 10% of
the total principal amount of Offered Securities and arrangements satisfactory
to CSFBC and the Company for the purchase of such Offered Securities by other
persons are not made within 36 hours after such default, this Agreement will
terminate without liability on the part of any non-defaulting Initial Purchaser,
the Company or any Guarantor, except as provided in Section 9. As used in this
Agreement, the term "Initial Purchaser" includes any person substituted for an
Initial Purchaser under this Section. Nothing herein will relieve a defaulting
Initial Purchaser from liability for its default.

     9.   Survival of Certain Representations and Obligations. The respective
indemnities, agreements, representations, warranties and other statements of the
Company, each of the Guarantors or their respective officers and of the Initial
Purchasers set forth in or made pursuant to this Agreement will remain in full
force and effect, regardless of any investigation, or statement as to the
results thereof, made by or on behalf of the Initial Purchasers, the Company,
any of the Guarantors or any of their respective representatives, officers or
directors or any controlling person, and will survive delivery of and payment
for the Offered Securities. If this Agreement is terminated pursuant to Section
8 or if for any reason the purchase of the Offered Securities by the Purchasers
is not consummated, the Company and the Guarantors shall remain responsible for
the expenses to be paid or reimbursed by it pursuant to Section 5(h) and the
respective obligations of the Company, the Guarantors and the Initial Purchasers
pursuant to Section 7 shall remain in effect. If the purchase of the Offered
Securities by the Initial Purchasers is not consummated for any reason other
than solely because of the termination of this Agreement pursuant to Section 8
or the occurrence of any event specified in Section 6(b)(i) or clause (C), (D),
(E) or (F) of Section 6(b)(ii),

                                       30

<PAGE>

the Company and the Guarantors will reimburse the Initial Purchasers for all
out-of-pocket expenses (including fees and disbursements of counsel) reasonably
incurred in connection with the offering of the Offered Securities.

         10. Notices. All communications hereunder will be in writing and, if
sent to the Initial Purchasers will be mailed, delivered or telegraphed and
confirmed to the Initial Purchasers, c/o Credit Suisse First Boston Corporation,
Eleven Madison Avenue, New York, New York 10010-3629, Attention: Transactions
Advisory Group, or, if sent to the Company or any of the Guarantors, will be
mailed, delivered or telegraphed and confirmed to it at Icon Health & Fitness,
Inc., 1500 South 1000, Logan, Utah 84321, Attention: Brad Bearnson, Esq.;
provided, however, that any notice to an Initial Purchaser pursuant to Section 7
will be mailed, delivered or telegraphed and confirmed to such Initial
Purchaser.

         11. Successors. This Agreement will inure to the benefit of and be
binding upon the parties hereto and their respective successors and the
controlling persons referred to in Section 7, and no other person will have any
right or obligation hereunder, except that holders of Offered Securities shall
be entitled to enforce the agreements for their benefit contained in the second
and third sentences of Section 5(b) hereof against the Company and each of the
Guarantors as if such holders were parties thereto.

         12.  Counterparts. This Agreement may be executed in any number of
counterparts, each of which shall be deemed to be an original, but all such
counterparts shall together constitute one and the same Agreement.

         13.  Applicable Law. This Agreement shall be governed by, and construed
in accordance with, the laws of the State of New York without regard to
principles of conflicts of laws.

         The Company and each of the Guarantors hereby submit to the
non-exclusive jurisdiction of the Federal and State courts in the Borough of
Manhattan in The City of New York in any suit or proceeding arising out of or
relating to this Agreement or the transactions contemplated hereby.

                                       31

<PAGE>

         If the foregoing is in accordance with the Initial Purchasers'
understanding of our agreement, kindly sign and return to us one of the
counterparts hereof, whereupon it will become a binding agreement between the
Company, each of the Guarantors and the several Initial Purchasers in accordance
with its terms.

                                Very truly yours,

                                       32

<PAGE>

                                               ICON HEALTH & FITNESS, INC.

                                               By: /s/ Brad H. Bearnson
                                                   _____________________________
                                                   Name: Brad H. Bearnson
                                                   Title:

                                               GUARANTORS:

                                               JUMPKING, INC.

                                               By: /s/ Brad H. Bearnson
                                                   _____________________________
                                                   Name: Brad H. Bearnson
                                                   Title:

                                               UNIVERSAL TECHNICAL SERVICES

                                               By: /s/ Brad H. Bearnson
                                                   _____________________________
                                                   Name: Brad H. Bearnson
                                                   Title:

                                              ICON INTERNATIONAL HOLDINGS, INC.

                                               By: /s/ Brad H. Bearnson
                                                   _____________________________
                                                   Name: Brad H. Bearnson
                                                   Title:

                                               ICON IP, INC.

                                               By: /s/ Brad H. Bearnson
                                                   _____________________________
                                                   Name: Brad H. Bearnson
                                                   Title:

<PAGE>

                                               FREE MOTION FITNESS, INC.

                                               By: /s/ Brad H. Bearnson
                                                   _____________________________
                                                   Name: Brad H. Bearnson
                                                   Title:

                                               NORDICTRACK, INC.

                                               By: /s/ Brad H. Bearnson
                                                   _____________________________
                                                   Name: Brad H. Bearnson
                                                   Title:

                                               510152 N.B. LTD.

                                               By: /s/ Brad H. Bearnson
                                                   _____________________________
                                                   Name: Brad H. Bearnson
                                                   Title:

                                               ICON DU CANADA INC.

                                               By: /s/ Brad H. Bearnson
                                                   _____________________________
                                                   Name: Brad H. Bearnson
                                                   Title:

<PAGE>

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

     Credit Suisse First Boston
     Corporation,

     By: /s/ Mark Filipski
         _________________________
         Name: Mark Filipski
         Title: Managing Director

     Acting on behalf of itself and as the
     Representative of the several Initial
     Purchasers

                                       35

<PAGE>

                                   SCHEDULE A

                                                         Principal Amount of
                                                         Offered Securities
                                                         -------------------

               Manager
               -------
Credit Suisse First Boston Corporation ............             $124,000,000
J.P. Morgan Securities Inc. .......................             $ 19,375,000
Fleet Securities, Inc. ............................             $ 11,625,000
                                                                ------------
                          Total ...................             $155,000,000
                                                                ============

                                       36

<PAGE>

                                   SCHEDULE B

                           Subsidiaries of the Company

     Jumpking, Inc.
     Universal Technical Services
     ICON International Holdings, Inc.
     ICON IP, Inc.
     Free Motion Fitness, Inc.
     NordicTrack, Inc.
     510152 N.B. Ltd.
     ICON du Canada Inc.,
     ICON Health & Fitness (Holdings) Ltd.
     ICON OS, Inc.
     ICON Health & Fitness Italia SRL
     ICON Fitness Lifestyle
     ICON Health & Fitness France SA
     AICON Health & Fitness GmbH
     Weider Health & Fitness France SA

                                       37

<PAGE>

                                    EXHIBIT I

                     [Form of Registration Rights Agreement]

                                       38<PAGE>

                                                                   Exhibit 10.10

                                  $155,000,000

                           ICON HEALTH & FITNESS, INC.

                    11.25% SENIOR SUBORDINATED NOTES DUE 2012

                          REGISTRATION RIGHTS AGREEMENT
                          -----------------------------

                                                                   April 9, 2002

Credit Suisse First Boston Corporation
J.P. Morgan Securities Inc.
Fleet Securities, Inc.
c/o Credit Suisse First Boston Corporation
Eleven Madison Avenue
New York, New York 10010-3629

Ladies and Gentlemen:

     ICON Health & Fitness, Inc., a Delaware corporation (the "Issuer"),
proposes to issue and sell to Credit Suisse First Boston Corporation, J.P.
Morgan Securities Inc., and Fleet Securities, Inc. (the "Initial Purchasers"),
upon the terms set forth in a purchase agreement dated March 28, 2002 (the
"Purchase Agreement"), $155,000,000 aggregate principal amount of its 11.25%
Senior Subordinated Notes due 2012 (the "Notes") to be guaranteed (the
"Guarantees," and together with the Notes, the "Offered Securities") by
JumpKing, Inc., a Utah corporation , Universal Technical Services, a Utah
corporation, ICON International Holdings, Inc., a Delaware corporation, ICON IP,
Inc., a Delaware corporation, Free Motion Fitness, a Utah corporation,
NordicTrack, Inc., a Utah corporation, 510152 N.B. Ltd., a New Brunswick
corporation and ICON du Canada Inc., a Quebec corporation (each a "Guarantor"
and together, the "Guarantors"; and the Guarantors collectively with the Issuer,
the "Company"). The Offered Securities will be issued pursuant to an Indenture,
dated as of April 9, 2002 (the "Indenture"), among the Issuer, the Guarantors
and The Bank of New York, as trustee (the "Trustee"). As an inducement to the
Initial Purchasers to enter into the Purchase Agreement, the Company agrees with
the Initial Purchasers, for the benefit of the Initial Purchasers and the
holders of the Securities (as defined below) (collectively, the "Holders"), as
follows:

     1.   Exchange Offer. Unless not permitted by applicable law (after the
Company has complied with the ultimate paragraph of this Section 1), the Company
shall prepare and, on or prior to 90 days (such 90th day being a "Filing
Deadline") after the date on which the Initial Purchasers purchase the Offered
Securities pursuant to the Purchase Agreement (the "Closing Date"), file with
the Securities and Exchange Commission (the "Commission") a registration
statement (the "Exchange Offer Registration Statement") on an appropriate form
under the Securities Act of 1933, as amended (the "Securities Act"), with
respect to a proposed offer (the "Exchange Offer") to the Holders of Transfer
Restricted Securities (as defined in Section 6 hereof), who are not prohibited
by any law or policy of the Commission from participating in the Exchange Offer,
to issue and deliver to such Holders, in exchange for the Offered Securities, a
like aggregate principal amount of debt securities of the Issuer and Guarantees
of the Guarantors issued under the Indenture, identical in all material respects
to the Offered Securities and registered under the Securities Act (the "Exchange
Notes"). The Company shall (i) use its best efforts to have such Exchange Offer
Registration Statement declared effective by the Commission under the Securities
Act on or prior to 180

<PAGE>

days after the Closing Date and (ii) unless the Exchange Offer would not be
permitted by applicable law or Commission policy, the Company will, following
the declaration of the effectiveness of the Exchange Offer Registration
Statement (a) commence the Exchange Offer and (b) use its best efforts to issue
on or prior to 30 business days after the date on which the Exchange Offer
Registration Statement was declared effective by the Commission, Exchange Notes,
in exchange for all Offered Securities tendered prior thereto in the Exchange
Offer (such period being called the "Exchange Offer Registration Period").

     Following the declaration of the effectiveness of the Exchange Offer
Registration Statement, the Company shall promptly commence the Exchange Offer,
it being the objective of such Exchange Offer to enable each Holder of Transfer
Restricted Securities electing to exchange the Offered Securities for Exchange
Notes (assuming that such Holder is not an affiliate of the Company within the
meaning of the Securities Act, acquires the Exchange Notes in the ordinary
course of such Holder's business and has no arrangements with any person to
participate in the distribution of the Exchange Notes and is not prohibited by
any law or policy of the Commission from participating in the Exchange Offer),
to trade such Exchange Notes from and after their receipt without any
limitations or restrictions under the Securities Act and without material
restrictions under the securities laws of the several states of the United
States.

     The Company acknowledges that, pursuant to current interpretations by the
Commission's staff of Section 5 of the Securities Act, in the absence of an
applicable exemption therefrom, (i) each Holder which is a broker-dealer
electing to exchange Offered Securities, acquired for its own account as a
result of market making activities or other trading activities, for Exchange
Notes (an "Exchanging Dealer"), is required to deliver a prospectus containing
the information set forth in (a) Annex A hereto on the cover, (b) Annex B hereto
in the "Exchange Offer Procedures" section and the "Purpose of the Exchange
Offer" section, and (c) Annex C hereto in the "Plan of Distribution" section of
such prospectus in connection with a sale of any such Exchange Notes received by
such Exchanging Dealer pursuant to the Exchange Offer and (ii) an Initial
Purchaser that elects to sell Securities (as defined below) acquired in exchange
for Offered Securities constituting any portion of an unsold allotment, is
required to deliver a prospectus containing the information required by Items
507 or 508 of Regulation S-K under the Securities Act, as applicable, in
connection with such sale.

     Subject to the next paragraph, for so long as any of the Securities (as
defined below) are outstanding (but in no event later than 180 days after the
Exchange Offer Registration Statement is declared effective). and if, in the
reasonable judgment of the Initial Purchasers or their counsel, the Initial
Purchasers or any of their affiliates (as defined in the rules and regulations
under the Securities Act) are required to deliver a prospectus (any such
prospectus, a "Market Making Prospectus") in connection with sales of the
Securities, to (i) provide the Initial Purchasers and their affiliates, without
charge, as many copies of the Market Making Prospectus as they may reasonably
request, (ii) periodically amend the Offering Document (as defined in the
Purchase Agreement) and the Exchange Offer Registration Statement so that the
information contained therein complies with the requirements of Section 10(a) of
the Securities Act, (iii) amend the Exchange Offer Registration Statement or
amend or supplement the Market Making Prospectus when necessary to reflect any
material changes in the information provided therein and promptly file such
amendment or supplement with the Commission, (iv) provide the Initial Purchasers
and their affiliates with copies of each amendment or supplement so filed and
such other documents, including opinions of counsel and "comfort" letters, as
they may reasonably request and (v) indemnify the Initial Purchasers and their
affiliates with respect to the Market Making Prospectus and, if applicable,
contribute to any amount paid or payable by the Purchasers and their affiliates
in a manner substantially identical to that specified in [Section 7] of the
Purchase Agreement (with appropriate modifications). The Company consents to the
use, subject to the provisions of the Securities Act and the state securities or
Blue Sky laws of the jurisdictions in which the Offered Securities are offered
by the Purchasers, of each Market Making Prospectus.

     The Company shall use its best efforts to keep the Exchange Offer
Registration Statement effective and to amend and supplement the prospectus
contained therein, in order to permit such prospectus to be lawfully delivered
by all persons subject to the prospectus delivery requirements of the Securities
Act for such period of time as such persons must comply with such requirements
in order to resell the Exchange

                                       2

<PAGE>

Notes; provided, however, that (i) in the case where such prospectus and any
       --------  -------
amendment or supplement thereto must be delivered by an Exchanging Dealer or the
Initial Purchasers, such period shall be the lesser of 180 days and the date on
which all Exchanging Dealers and the Initial Purchasers have sold all Exchange
Notes held by them (unless such period is extended pursuant to Section 3(j)
below) and (ii) the Company shall make such prospectus and any amendment or
supplement thereto available to any broker-dealer for use in connection with any
resale of any Exchange Notes for a period of not less than 180 days after the
consummation of the Exchange Offer.

     If, upon consummation of the Exchange Offer, the Initial Purchasers hold
Offered Securities acquired by them as part of their initial distribution, the
Company, simultaneously with the delivery of the Exchange Notes pursuant to the
Exchange Offer, shall issue and deliver to the Initial Purchasers upon the
written request of the Initial Purchasers, in exchange (the "Private Exchange")
for the Offered Securities held by the Initial Purchasers, a like principal
amount of debt securities of the Issuer and Guarantees of the Guarantors issued
under the Indenture and identical in all material respects to the Offered
Securities (the "Private Exchange Notes"). The Offered Securities, the Exchange
Notes and the Private Exchange Notes are herein collectively called the
"Securities".

     In connection with the Exchange Offer, the Company shall:

               (a)  mail to each Holder a copy of the prospectus forming part of
     the Exchange Offer Registration Statement, together with an appropriate
     letter of transmittal and related documents;

               (b)  keep the Exchange Offer open for not less than 25 days (or
     longer, if required by applicable law) after the date notice thereof is
     mailed to the Holders;

               (c)  utilize the services of a depositary for the Exchange Offer
     with an address in the Borough of Manhattan, The City of New York, which
     may be the Trustee or an affiliate of the Trustee;

               (d)  permit Holders to withdraw tendered Securities at any time
     prior to the close of business, New York time, on the last business day on
     which the Exchange Offer shall remain open; and

               (e)  otherwise comply with all applicable laws.

     As soon as practicable after the close of the Exchange Offer or the Private
Exchange, as the case may be, the Company shall:

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

               (y)  deliver to the Trustee for cancellation all the Offered
     Securities so accepted for exchange; and

               (z)  cause the Trustee to authenticate and deliver promptly to
     each Holder of the Offered Securities, Exchange Notes or Private Exchange
     Notes, as the case may be, equal in principal amount to the Offered
     Securities of such Holder so accepted for exchange.

     The Indenture will provide that the Exchange Notes will not be subject to
the transfer restrictions set forth in the Indenture and that all the Securities
will vote and consent together on all matters as one class and that none of the
Securities will have the right to vote or consent as a class separate from one
another on any matter.

                                       3

<PAGE>

     Interest on each Exchange Note and Private Exchange Note issued pursuant to
the Exchange Offer and in the Private Exchange will accrue from the last
interest payment date on which interest was paid on the Offered Securities
surrendered in exchange therefor or, if no interest has been paid on the Offered
Securities, from the date of original issue of the Offered Securities.

     Each Holder participating in the Exchange Offer shall be required to
represent to the Company that at the time of the consummation of the Exchange
Offer (i) any Exchange Notes received by such Holder will be acquired in the
ordinary course of business, (ii) such Holder will have no arrangements or
understanding with any person to participate in the distribution of the
Securities or the Exchange Notes within the meaning of the Securities Act, (iii)
such Holder is not an "affiliate," as defined in Rule 405 of the Securities Act,
of the Company or if it is an affiliate, such Holder will comply with the
registration and prospectus delivery requirements of the Securities Act to the
extent applicable, (iv) if such Holder is not a broker-dealer, that it is not
engaged in, and does not intend to engage in, the distribution of the Exchange
Notes, (v) if such Holder is a broker-dealer, that it will receive Exchange
Notes for its own account in exchange for Offered Securities that were acquired
as a result of market-making activities or other trading activities and that it
will be required to acknowledge that it will deliver a prospectus in connection
with any resale of such Exchange Notes, and (vi) that it is not acting on behalf
of any person who could not truthfully make the forgoing statement.

     Notwithstanding any other provisions hereof, the Company will ensure that
(i) any Exchange Offer Registration Statement and any amendment thereto and any
prospectus forming part thereof and any supplement thereto complies in all
material respects with the Securities Act and the rules and regulations
thereunder, (ii) any Exchange Offer Registration Statement and any amendment
thereto does not, when it becomes effective, contain an untrue statement of a
material fact or omit to state a material fact required to be stated therein or
necessary to make the statements therein not misleading and (iii) any prospectus
forming part of any Exchange Offer Registration Statement, and any supplement to
such prospectus, does not include an untrue statement of a material fact or omit
to state a material fact required to be stated therein or necessary in order to
make the statements therein, in the light of the circumstances under which they
were made, not misleading.

     If following the date hereof there has been announced a change in
Commission policy with respect to exchange offers that in the reasonable opinion
of counsel to the Company raises a substantial question as to whether the
Exchange Offer is permitted by applicable federal law, the Company will seek a
no-action letter or other favorable decision from the Commission allowing the
Company to consummate the Exchange Offer. The Company will pursue the issuance
of such a decision to the Commission staff level. In connection with the
foregoing, the Company will take all such other actions as may be requested by
the Commission or otherwise required in connection with the issuance of such
decision, including without limitation (i) participating in telephonic
conferences with the Commission, (ii) delivering to the Commission staff an
analysis prepared by counsel to the Company setting forth the legal bases, if
any, upon which such counsel has concluded that the Exchange Offer should be
permitted and (iii) diligently pursuing a resolution (which need not be
favorable) by the Commission staff.

     2.   Shelf Registration. If, (i) the Company is not: (a) required to file
the Exchange Offer Registration Statement; or (b) permitted to consummate the
Exchange Offer because the Exchange Offer is not permitted by applicable law or
Commission policy; or (ii) any holder of Transfer Restricted Securities notifies
the Issuer prior to the 20th day following consummation of the Exchange Offer
that: (a) it is prohibited by law or Commission policy from participating in the
Exchange Offer; or (b) that it may not resell the Exchange Notes acquired by it
in the Exchange Offer to the public without delivering a prospectus and the
prospectus contained in the Exchange Offer Registration Statement is not
appropriate or available for such resales; or (c) that it is a broker-dealer and
owns Securities acquired directly from the Company or an affiliate of the
Company, the Company shall take the following actions (the date on which any of
the conditions described in the foregoing clauses (i) and (ii) occur, being a
"Trigger Date"):

                                       4

<PAGE>

               (a)  The Company will file a registration statement (the "Shelf
     Registration Statement") with the Commission and use its best efforts to
     cause such filing to be made on or prior to 90 days after such filing
     obligation arises and to cause the Shelf Registration Statement to be
     declared effective by the Commission under the Securities Act, on or prior
     to 180 days after such filing. The Shelf Registration Statement shall be
     filed on an appropriate form under the Securities Act relating to the offer
     and sale of the Transfer Restricted Securities by the Holders thereof from
     time to time in accordance with the methods of distribution set forth in
     the Shelf Registration Statement and Rule 415 under the Securities Act
     (hereinafter, the "Shelf Registration"); provided, however, that no Holder
                                              --------  -------
     (other than an Initial Purchaser) shall be entitled to have the Securities
     held by it covered by such Shelf Registration Statement unless such Holder
     agrees in writing to be bound by all the provisions of this Agreement
     applicable to such Holder.

               (b)  The Company shall use its best efforts to keep the Shelf
     Registration Statement continuously effective in order to permit the
     prospectus included therein to be lawfully delivered by the Holders of the
     relevant Securities, for a period of two years (or for such longer period
     if extended pursuant to Section 3(j) below) from the date of its
     effectiveness or such shorter period that will terminate when all the
     Securities covered by the Shelf Registration Statement (i) have been sold
     pursuant thereto or (ii) are no longer restricted securities (as defined in
     Rule 144 under the Securities Act, or any successor rule thereof). The
     Company shall be deemed not to have used its best efforts to keep the Shelf
     Registration Statement effective during the requisite period if it
     voluntarily takes any action that would result in Holders of Securities
     covered thereby not being able to offer and sell such Securities during
     that period, unless such action in the judgment of counsel for the Company
     is required by applicable law.

               (c)  Notwithstanding any other provisions of this Agreement to
     the contrary, the Company shall cause the Shelf Registration Statement and
     the related prospectus and any amendment or supplement thereto, as of the
     effective date of the Shelf Registration Statement, amendment or
     supplement, (i) to comply in all material respects with the applicable
     requirements of the Securities Act and the rules and regulations of the
     Commission and (ii) not to contain any untrue statement of a material fact
     or omit to state a material fact required to be stated therein or necessary
     in order to make the statements therein, in light of the circumstances
     under which they were made, not misleading.

     3.   Registration Procedures. In connection with any Shelf Registration
contemplated by Section 2 hereof and, to the extent applicable, any Exchange
Offer contemplated by Section 1 hereof, the following provisions shall apply:

               (a)  The Company shall (i) furnish to the Initial Purchasers,
     prior to the filing thereof with the Commission, a copy of the Registration
     Statement and each amendment thereof and each supplement, if any, to the
     prospectus included therein and, in the event that the Initial Purchasers
     (with respect to any portion of an unsold allotment from the original
     offering) are participating in the Exchange Offer or the Shelf Registration
     Statement, the Company shall use its best efforts to reflect in each such
     document, when so filed with the Commission, such comments as the Initial
     Purchasers reasonably may propose; (ii) include the information set forth
     in Annex A hereto on the cover, in Annex B hereto in the "Exchange Offer
     Procedures" section and the "Purpose of the Exchange Offer" section and in
     Annex C hereto in the "Plan of Distribution" section of the prospectus
     forming a part of the Exchange Offer Registration Statement and include the
     information set forth in Annex D hereto in the Letter of Transmittal
     delivered pursuant to the Exchange Offer; (iii) if requested by the Initial
     Purchasers, include the information required by Items 507 or 508 of
     Regulation S-K under the Securities Act, as applicable, in the prospectus
     forming a part of the Exchange Offer Registration Statement; (iv) include
     within the prospectus contained in the Exchange Offer Registration
     Statement a section entitled "Plan of Distribution," reasonably acceptable
     to the Initial Purchasers, which shall contain a summary statement of the
     positions taken or policies made by the staff of the Commission with
     respect to the potential

                                       5

<PAGE>

     "underwriter" status of any broker-dealer that is the beneficial owner (as
     defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended
     (the "Exchange Act")) of Exchange Notes received by such broker-dealer in
     the Exchange Offer (a "Participating Broker-Dealer"), whether such
     positions or policies have been publicly disseminated by the staff of the
     Commission or such positions or policies, in the reasonable judgment of the
     Initial Purchasers based upon advice of counsel (which may be in-house
     counsel), represent the prevailing views of the staff of the Commission;
     and (v) in the case of a Shelf Registration Statement, include the names of
     the Holders who propose to sell Securities pursuant to the Shelf
     Registration Statement as selling securityholders.

               (b)  The Company shall give written notice to the Initial
     Purchasers, the Holders of the Securities and any Participating
     Broker-Dealer from whom the Company has received prior written notice that
     it will be a Participating Broker-Dealer in the Exchange Offer (which
     notice pursuant to clauses (ii)-(v) hereof shall be accompanied by an
     instruction to suspend the use of the prospectus until the requisite
     changes have been made):

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

                         (ii)   of any request by the Commission for amendments
               or supplements to the Registration Statement or the prospectus
               included therein or for additional information;

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

                         (iv)   of the receipt by the Company or its legal
               counsel of any notification with respect to the suspension of the
               qualification of the Securities for sale in any jurisdiction or
               the initiation or threatening of any proceeding for such purpose;
               and

                         (v)    of the happening of any event that requires the
               Company to make changes in the Registration Statement or the
               prospectus in order that the Registration Statement or the
               prospectus does not contain an untrue statement of a material
               fact nor omit to state a material fact required to be stated
               therein or necessary to make the statements therein (in the case
               of the prospectus, in light of the circumstances under which they
               were made) not misleading.

               (c)  The Company shall make every reasonable effort to obtain the
     withdrawal at the earliest possible time, of any order suspending the
     effectiveness of the Registration Statement.

               (d)  The Company shall furnish to each Holder of Securities
     included within the coverage of the Shelf Registration, without charge, at
     least one copy of the Shelf Registration Statement and any post-effective
     amendment thereto, including financial statements and schedules, and, if
     the Holder so requests in writing, all exhibits thereto (including those,
     if any, incorporated by reference).

               (e)  The Company shall deliver to each Exchanging Dealer and the
     Initial Purchasers, and to any other Holder who so requests, without
     charge, at least one copy of the Exchange Offer Registration Statement and
     any post-effective amendment thereto, including financial statements and
     schedules, and, if the Initial Purchasers or any such Holder requests, all
     exhibits thereto (including those incorporated by reference).

                                       6

<PAGE>

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

               (g)  The Company shall deliver to the Initial Purchasers, any
     Exchanging Dealer, any Participating Broker-Dealer and such other persons
     required to deliver a prospectus following the Exchange Offer, without
     charge, as many copies of the final prospectus included in the Exchange
     Offer Registration Statement and any amendment or supplement thereto as
     such persons may reasonably request. The Company consents, subject to the
     provisions of this Agreement, to the use of the prospectus or any amendment
     or supplement thereto by the Initial Purchasers, if necessary, any
     Participating Broker-Dealer and such other persons required to deliver a
     prospectus following the Exchange Offer in connection with the offering and
     sale of the Exchange Notes covered by the prospectus, or any amendment or
     supplement thereto, included in such Exchange Offer Registration Statement.

               (h) Prior to any public offering of the Securities pursuant to
     any Registration Statement, the Company shall register or qualify or
     cooperate with the Holders of the Securities included therein and their
     respective counsel in connection with the registration or qualification of
     the Securities for offer and sale under the securities or "blue sky" laws
     of such states of the United States as any Holder of the Securities
     reasonably requests in writing and do any and all other acts or things
     necessary or advisable to enable the offer and sale in such jurisdictions
     of the Securities covered by such Registration Statement; provided,
                                                               --------
     however, that the Company shall not be required to (i) qualify generally to
     -------
     do business in any jurisdiction where it is not then so qualified or (ii)
     take any action which would subject it to general service of process or to
     taxation in any jurisdiction where it is not then so subject.

               (i)  The Company shall cooperate with the Holders of the
     Securities to facilitate the timely preparation and delivery of
     certificates representing the Securities to be sold pursuant to any
     Registration Statement free of any restrictive legends and in such
     denominations and registered in such names as the Holders may request a
     reasonable period of time prior to sales of the Securities pursuant to such
     Registration Statement.

               (j)  Upon the occurrence of any event contemplated by paragraphs
     (ii) through (v) of Section 3(b) above during the period for which the
     Company is required to maintain an effective Registration Statement, the
     Company shall promptly prepare and file a post-effective amendment to the
     Registration Statement or a supplement to the related prospectus and any
     other required document so that, as thereafter delivered to Holders of the
     Securities or purchasers of Securities, the prospectus will not contain an
     untrue statement of a material fact or omit to state any material fact
     required to be stated therein or necessary to make the statements therein,
     in light of the circumstances under which they were made, not misleading.
     If the Company notifies the Initial Purchasers, the Holders of the
     Securities and any known Participating Broker-Dealer in accordance with
     paragraphs (ii) through (v) of Section 3(b) above to suspend the use of the
     prospectus until the requisite changes to the prospectus have been made,
     then the Initial Purchasers, the Holders of the Securities and any such
     Participating Broker-Dealers shall suspend use of such prospectus, and the
     period of effectiveness of the Shelf Registration Statement provided for in
     Section 2(b) above and the Exchange Offer Registration Statement provided
     for in Section 1 above shall each be extended by the number of days from
     and including the date of the giving of such notice to and including the
     date when the Initial Purchasers, the Holders of the

                                       7

<PAGE>

     Securities and any known Participating Broker-Dealer shall have received
     such amended or supplemented prospectus pursuant to this Section 3(j).

               (k) Not later than the effective date of the applicable
     Registration Statement, the Company will provide a CUSIP number for the
     Notes, the Exchange Notes or the Private Exchange Notes, as the case may
     be, and provide the applicable trustee with printed certificates for the
     Offered Securities, the Exchange Notes or the Private Exchange Notes, as
     the case may be, in a form eligible for deposit with The Depository Trust
     Company.

               (l)  The Company will comply with all rules and regulations of
     the Commission to the extent and so long as they are applicable to the
     Exchange Offer or the Shelf Registration and will make generally available
     to its security holders (or otherwise provide in accordance with Section
     11(a) of the Securities Act) an earnings statement satisfying the
     provisions of Section 11(a) of the Securities Act, no later than 45 days
     after the end of a 12-month period (or 90 days, if such period is a fiscal
     year) beginning with the first month of the Company's first fiscal quarter
     commencing after the effective date of the Registration Statement, which
     statement shall cover such 12-month period.

               (m)  The Company shall cause the Indenture to be qualified under
     the Trust Indenture Act of 1939, as amended, in a timely manner and
     containing such changes, if any, as shall be necessary for such
     qualification. In the event that such qualification would require the
     appointment of a new trustee under the Indenture, the Company shall appoint
     a new trustee thereunder pursuant to the applicable provisions of the
     Indenture.

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

               (o)  The Company shall enter into such customary agreements
     (including, if requested, an underwriting agreement in customary form) and
     take all such other action, if any, as any Holder of the Securities shall
     reasonably request in order to facilitate the disposition of the Securities
     pursuant to any Shelf Registration.

               (p)  In the case of any Shelf Registration, the Company shall (i)
     make reasonably available for inspection by the Holders of the Securities,
     any underwriter participating in any disposition pursuant to the Shelf
     Registration Statement and any attorney, accountant or other agent retained
     by the Holders of the Securities or any such underwriter all relevant
     financial and other records, pertinent corporate documents and properties
     of the Company and (ii) cause the Company's officers, directors, employees,
     accountants and auditors to supply all relevant information reasonably
     requested by the Holders of the Securities or any such underwriter,
     attorney, accountant or agent in connection with the Shelf Registration
     Statement, in each case as shall be reasonably necessary to enable such
     persons, to conduct a reasonable investigation within the meaning of
     Section 11 of the Securities Act; provided, however, that the foregoing
                                       --------  -------
     inspection and information gathering shall be coordinated on behalf of the
     Initial Purchasers by you and on behalf of the other parties, by one
     counsel designated by and on behalf of such other parties as described in
     Section 4 hereof and shall take place at the offices where such records are
     normally kept during normal business hours.

               (q)  In the case of any Shelf Registration, the Company, if
     requested by any Holder of Securities covered thereby, shall cause (i) its
     counsel to deliver an opinion and updates thereof relating to the
     Securities in customary form addressed to such Holders and the managing

                                       8

<PAGE>

     underwriters, if any, thereof and dated, in the case of the initial
     opinion, the effective date of such Shelf Registration Statement (it being
     agreed that the matters to be covered by such opinion shall include,
     without limitation, the due incorporation and good corporate standing of
     the Company and its subsidiaries; the qualification of the Company and its
     subsidiaries to transact business as foreign corporations; the due
     authorization, execution and delivery of the relevant agreement of the type
     referred to in Section 3(o) hereof; the due authorization, execution,
     authentication and issuance, and the validity and enforceability, of the
     applicable Securities; the absence of material legal or governmental
     proceedings involving the Company and its subsidiaries; the absence of
     governmental approvals required to be obtained in connection with the Shelf
     Registration Statement, the offering and sale of the applicable Securities,
     or any agreement of the type referred to in Section 3(o) hereof; the
     compliance as to form of such Shelf Registration Statement and any
     documents incorporated by reference therein and of the Indenture with the
     requirements of the Securities Act and the Trust Indenture Act,
     respectively; and, as of the date of the opinion and as of the effective
     date of the Shelf Registration Statement or most recent post-effective
     amendment thereto, as the case may be, the absence from such Shelf
     Registration Statement and the prospectus included therein, as then amended
     or supplemented, and from any documents incorporated by reference therein
     of an untrue statement of a material fact or the omission to state therein
     a material fact required to be stated therein or necessary to make the
     statements therein not misleading (in the case of any such documents, in
     the light of the circumstances existing at the time that such documents
     were filed with the Commission under the Exchange Act); (ii) its officers
     to execute and deliver all customary documents and certificates and updates
     thereof requested by any underwriters of the applicable Securities and
     (iii) its independent public accountants to provide to the selling Holders
     of the applicable Securities and any underwriter therefor a comfort letter
     in customary form and covering matters of the type customarily covered in
     comfort letters in connection with primary underwritten offerings, subject
     to receipt of appropriate documentation as contemplated, and only if
     permitted, by Statement of Auditing Standards No. 72.

               (r) In the case of the Exchange Offer, if requested by the
     Initial Purchasers or any known Participating Broker-Dealer, the Company
     shall cause (i) its counsel to deliver to the Initial Purchasers or such
     Participating Broker-Dealer a signed opinion in the form set forth in
     Section 6(c), (e), (f), (g) and (h) of the Purchase Agreement with such
     changes as are customary in connection with the preparation of a
     Registration Statement and (ii) its independent public accountants to
     deliver to such Initial Purchaser or such Participating Broker-Dealer a
     comfort letter, in customary form, meeting the requirements as to the
     substance thereof as set forth in Section 6(a) and (k) of the Purchase
     Agreement, with appropriate date changes.

               (s)  If an Exchange Offer or a Private Exchange is to be
     consummated, upon delivery of the Offered Securities by Holders to the
     Company (or to such other Person as directed by the Company) in exchange
     for the Exchange Notes or the Private Exchange Notes, as the case may be,
     the Company shall mark, or cause to be marked, on the Offered Securities so
     exchanged that such Offered Securities are being canceled in exchange for
     the Exchange Notes or the Private Exchange Notes, as the case may be; in no
     event shall the Offered Securities be marked as paid or otherwise
     satisfied.

               (t)  The Company will use its best efforts to (a) if the Offered
     Securities have been rated prior to the initial sale of such Offered
     Securities, confirm such ratings will apply to the Securities covered by a
     Registration Statement, or (b) if the Offered Securities were not
     previously rated, cause the Securities covered by a Registration Statement
     to be rated with the appropriate rating agencies, if so requested by
     Holders of a majority in aggregate principal amount of Securities covered
     by such Registration Statement, or by the managing underwriters, if any.

               (u)  In the event that any broker-dealer registered under the
     Exchange Act shall underwrite any Securities or participate as a member of
     an underwriting syndicate or selling group

                                       9

<PAGE>

     or "assist in the distribution" (within the meaning of the Conduct Rules
     (the "Rules") of the National Association of Securities Dealers, Inc.
     ("NASD")) thereof, whether as a Holder of such Securities or as an
     underwriter, a placement or sales agent or a broker or dealer in respect
     thereof, or otherwise, the Company will assist such broker-dealer in
     complying with the requirements of such Rules, including, without
     limitation, by (i) if such Rules, including Rule 2720, shall so require,
     engaging a "qualified independent underwriter" (as defined in Rule 2720) to
     participate in the preparation of the Registration Statement relating to
     such Securities, to exercise usual standards of due diligence in respect
     thereto and, if any portion of the offering contemplated by such
     Registration Statement is an underwritten offering or is made through a
     placement or sales agent, to recommend the yield of such Securities, (ii)
     indemnifying any such qualified independent underwriter to the extent of
     the indemnification of underwriters provided in Section 5 hereof and (iii)
     providing such information to such broker-dealer as may be required in
     order for such broker-dealer to comply with the requirements of the Rules.

            (v)   The Company shall use its best efforts to take all other steps
     necessary to effect the registration of the Securities covered by a
     Registration Statement contemplated hereby.

     4.  Registration Expenses. (a) All expenses incident to the Company's
performance of and compliance with this Agreement will be borne by the Company,
regardless of whether a Registration Statement is ever filed or becomes
effective, including without limitation;

            (i)   all registration and filing fees and expenses;

            (ii)  all fees and expenses of compliance with federal securities
     and state "blue sky" or securities laws;

            (iii) all expenses of printing (including printing certificates for
     the Securities to be issued in the Exchange Offer and the Private Exchange
     and printing of prospectuses), messenger and delivery services and
     telephone;

            (iv)  all fees and disbursements of counsel for the Company;

            (v)   all application and filing fees in connection with listing the
     Exchange Notes on a national securities exchange or automated quotation
     system pursuant to the requirements hereof; and

            (vi)  all fees and disbursements of independent certified public
     accountants of the Company (including the expenses of any special audit and
     comfort letters required by or incident to such performance).

The Company will bear its internal expenses (including, without limitation, all
salaries and expenses of its officers and employees performing legal or
accounting duties), the expenses of any annual audit and the fees and expenses
of any person, including special experts, retained by the Company.

     (b) In connection with any Registration Statement required by this
Agreement, the Company will reimburse the Initial Purchasers and the Holders of
Transfer Restricted Securities who are tendering Offered Securities in the
Exchange Offer and/or selling or reselling Securities pursuant to the "Plan of
Distribution" contained in the Exchange Offer Registration Statement or the
Shelf Registration Statement, as applicable, for the reasonable fees and
disbursements of not more than one counsel, who shall be Latham & Watkins unless
another firm shall be chosen by the Holders of a majority in principal amount of
the Transfer Restricted Securities for whose benefit such Registration Statement
is being prepared.

     5.  Indemnification. (a) The Company agrees to indemnify and hold harmless
each Holder of the Securities, any Participating Broker-Dealer and each person,
if any, who controls such Holder or such

                                       10

<PAGE>

Participating Broker-Dealer within the meaning of the Securities Act or the
Exchange Act (each Holder, any Participating Broker-Dealer and such controlling
persons are referred to collectively as the "Indemnified Parties") from and
against any losses, claims, damages or liabilities, joint or several, or any
actions in respect thereof (including, but not limited to, any losses, claims,
damages, liabilities or actions relating to purchases and sales of the
Securities) to which each Indemnified Party may become subject under the
Securities Act, the Exchange Act or otherwise, insofar as such losses, claims,
damages, liabilities or actions arise out of or are based upon any untrue
statement or alleged untrue statement of a material fact contained in a
Registration Statement or prospectus or in any amendment or supplement thereto
or in any preliminary prospectus relating to a Shelf Registration, or arise out
of, or are based upon, the omission or alleged omission to state therein a
material fact required to be stated therein or necessary to make the statements
therein not misleading, and shall reimburse, as incurred, the Indemnified
Parties for any legal or other expenses reasonably incurred by them in
connection with investigating or defending any such loss, claim, damage,
liability or action in respect thereof; provided, however, that (i) the Company
                                        --------  -------
shall not be liable in any such case to the extent that such loss, claim, damage
or liability arises out of or is based upon any untrue statement or alleged
untrue statement or omission or alleged omission made in a Registration
Statement or prospectus or in any amendment or supplement thereto or in any
preliminary prospectus relating to a Shelf Registration in reliance upon and in
conformity with written information pertaining to such Holder and furnished to
the Company by or on behalf of such Holder specifically for inclusion therein
and (ii) with respect to any untrue statement or omission or alleged untrue
statement or omission made in any preliminary prospectus relating to a Shelf
Registration Statement, the indemnity agreement contained in this subsection (a)
shall not inure to the benefit of any Holder or Participating Broker-Dealer from
whom the person asserting any such losses, claims, damages or liabilities
purchased the Securities concerned, to the extent that a prospectus relating to
such Securities was required to be delivered by such Holder or Participating
Broker-Dealer under the Securities Act in connection with such purchase and any
such loss, claim, damage or liability of such Holder or Participating
Broker-Dealer results from the fact that there was not sent or given to such
person, at or prior to the written confirmation of the sale of such Securities
to such person, a copy of the final prospectus if the Company had previously
furnished copies thereof to such Holder or Participating Broker-Dealer; provided
                                                                        --------
further, that this indemnity agreement will be in addition to any liability
-------
which the Company may otherwise have to such Indemnified Party. The Company
shall also indemnify underwriters, their officers and directors and each person
who controls such underwriters within the meaning of the Securities Act or the
Exchange Act to the same extent as provided above with respect to the
indemnification of the Holders of the Securities if requested by such Holders.

     (b)  Each Holder of the Securities, severally and not jointly, will
indemnify and hold harmless the Company and each of the officers, directors and
employees and each person, if any, who controls the Company within the meaning
of the Securities Act or the Exchange Act from and against any losses, claims,
damages or liabilities or any actions in respect thereof, to which the Company
or any such controlling person may become subject under the Securities Act, the
Exchange Act or otherwise, insofar as such losses, claims, damages, liabilities
or actions arise out of or are based upon (i) any untrue statement or alleged
untrue statement of a material fact contained in a Registration Statement or
prospectus or in any amendment or supplement thereto or in any preliminary
prospectus relating to a Shelf Registration, or (ii) arise out of or are based
upon the omission or alleged omission to state therein a material fact necessary
to make the statements therein not misleading, but in each case only to the
extent that the untrue statement or omission or alleged untrue statement or
omission was made in reliance upon and in conformity with written information
pertaining to such Holder and furnished to the Company by or on behalf of such
Holder specifically for inclusion therein; and, subject to the limitation set
forth immediately preceding this clause, shall reimburse, as incurred, the
Company for any legal or other expenses reasonably incurred by the Company or
any such officer, director or employee or controlling person in connection with
investigating or defending any loss, claim, damage, liability or action in
respect thereof. This indemnity agreement will be in addition to any liability
which such Holder may otherwise have to the Company or any of its controlling
persons.

     (c)  Promptly after receipt by an indemnified party under this Section 5 of
notice of the commencement of any action or proceeding (including a governmental
investigation), such indemnified

                                       11

<PAGE>

party will, if a claim in respect thereof is to be made against the indemnifying
party under this Section 5, notify the indemnifying party of the commencement
thereof; but the omission so to notify the indemnifying party will not, in any
event, relieve the indemnifying party from any obligations to any indemnified
party other than the indemnification obligation provided in paragraph (a) or (b)
above. In case any such action is brought against any indemnified party, and it
notifies the indemnifying party of the commencement thereof, the indemnifying
party will be entitled to participate therein and, to the extent that it may
wish, jointly with any other indemnifying party similarly notified, to assume
the defense thereof, with counsel reasonably satisfactory to such indemnified
party (who shall not, except with the consent of the indemnified party, which
consent cannot be unreasonably withheld, be counsel to the indemnifying party),
and after notice from the indemnifying party to such indemnified party of its
election so to assume the defense thereof the indemnifying party will not be
liable to such indemnified party under this Section 5 for any legal or other
expenses, other than reasonable costs of investigation, subsequently incurred by
such indemnified party, in connection with the defense thereof. No indemnifying
party shall, without the prior written consent of the indemnified party, effect
any settlement of any pending or threatened action in respect of which any
indemnified party is or could have been a party and indemnity could have been
sought hereunder by such indemnified party unless such settlement includes an
unconditional release of such indemnified party from all liability on any claims
that are the subject matter of such action, and does not include a statement as
to or an admission of fault, culpability or a failure to act by or on behalf of
any indemnified party.

     (d)  If the indemnification provided for in this Section 5 is unavailable
or insufficient to hold harmless an indemnified party under subsections (a) or
(b) above, then each indemnifying party shall contribute to the amount paid or
payable by such indemnified party as a result of the losses, claims, damages or
liabilities (or actions in respect thereof) referred to in subsection (a) or (b)
above (i) in such proportion as is appropriate to reflect the relative benefits
received by the indemnifying party or parties on the one hand and the
indemnified party on the other from the sale of the Transfer Restricted
Securities, or (ii) if the allocation provided by the foregoing clause (i) is
not permitted by applicable law, in such proportion as is appropriate to reflect
not only the relative benefits referred to in clause (i) above but also the
relative fault of the indemnifying party or parties on the one hand and the
indemnified party on the other in connection with the statements or omissions
that resulted in such losses, claims, damages or liabilities (or actions in
respect thereof) as well as any other relevant equitable considerations. The
relative fault of the parties shall be determined by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact or the
omission or alleged omission to state a material fact relates to information
supplied by the Company on the one hand or such Holder or such other indemnified
party, as the case may be, on the other, and the parties' relative intent,
knowledge, access to information and opportunity to correct or prevent such
statement or omission. The amount paid by an indemnified party as a result of
the losses, claims, damages or liabilities referred to in the first sentence of
this subsection (d) shall be deemed to include any legal or other expenses
reasonably incurred by such indemnified party in connection with investigating
or defending any action or claim which is the subject of this subsection (d).
Notwithstanding any other provision of this Section 5, the Holders of the
Securities shall not be required to contribute any amount in excess of the
amount by which the net proceeds received by such Holders from the sale of the
Securities pursuant to a Registration Statement exceeds the amount of damages
which such Holders have otherwise been required to pay by reason of such untrue
or alleged untrue statement or omission or alleged omission. No person guilty of
fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any person who was not
guilty of such fraudulent misrepresentation. For purposes of this subsection
(d), each person, if any, who controls such indemnified party within the meaning
of the Securities Act or the Exchange Act shall have the same rights to
contribution as such indemnified party and each person, if any, who controls the
Company within the meaning of the Securities Act or the Exchange Act shall have
the same rights to contribution as the Company.

     (e)  The agreements contained in this Section 5 shall survive the sale of
the Securities pursuant to a Registration Statement and shall remain in full
force and effect, regardless of any termination or cancellation of this
Agreement or any investigation made by or on behalf of any indemnified party.

                                       12

<PAGE>

     6.  Additional Interest Under Certain Circumstances. (a) Additional
interest (the "Additional Interest") with respect to the Securities shall be
assessed as follows if any of the following events occur (each such event in
clauses (i) through (iv) below being herein called a "Registration Default"):

     (i)    any Registration Statement required by this Agreement is not filed
            with the Commission on or prior to the date specified for filing;

     (ii)   any Registration Statement required by this Agreement is not
            declared effective by the Commission on or prior to the date
            specified for such effectiveness (the "Effectiveness Target Date");

     (iii)  the Exchange Offer has not been consummated within 30 business days
            of the Effectiveness Target Date with respect to the Exchange Offer
            Registration Statement; or

     (iv)   any Registration Statement required by this Agreement has been
            declared effective by the Commission but (A) such Registration
            Statement thereafter ceases to be effective or (B) such Registration
            Statement or the related prospectus ceases to be usable in
            connection with resales of Transfer Restricted Securities during the
            periods specified herein.

Each of the foregoing will constitute a Registration Default whatever the reason
for any such event and whether it is voluntary or involuntary or is beyond the
control of the Company or pursuant to operation of law or as a result of any
action or inaction by the Commission.

     The Company shall pay Additional Interest to each Holder in the event of a
Registration Default. Additional Interest shall accrue from the first day of
such Registration Default in an amount equal to $.05 per week per $1,000
principal amount of Notes for the first 90-day period immediately following the
occurrence of such Registration Default and shall increase by an additional $.05
per week per $1,000 principal amount of Notes with respect to each subsequent
90-day period until all Registration Defaults have been cured, up to a maximum
amount of $.50 per week per $1,000 principal amount of Notes.

     (b)  A Registration Default referred to in Section 6(a)(iv) hereof shall be
deemed not to have occurred and be continuing in relation to a Shelf
Registration Statement or the related prospectus if (i) such Registration
Default has occurred solely as a result of (x) the filing of a post-effective
amendment to such Shelf Registration Statement to incorporate annual audited
financial information with respect to the Company where such post-effective
amendment is not yet effective and needs to be declared effective to permit
Holders to use the related prospectus or (y) other material events, with respect
to the Company that would need to be described in such Shelf Registration
Statement or the related prospectus and (ii) in the case of clause (y), the
Company is proceeding promptly and in good faith to amend or supplement such
Shelf Registration Statement and related prospectus to describe such events;
provided, however, that in any case if such Registration Default occurs for a
--------  -------
continuous period in excess of 30 days, Additional Interest shall be payable in
accordance with the above paragraph from the day such Registration Default
occurs until such Registration Default is cured.

     (c)  Any amounts of Additional Interest due pursuant to Section 6(a) will
be payable in cash on the regular interest payment dates with respect to the
Securities.

     (d)  "Transfer Restricted Securities" means each Security until (i) the
date on which such Security has been exchanged by a person other than a
broker-dealer for a freely transferable Exchange Note in the Exchange Offer,
(ii) following the exchange by a broker-dealer in the Exchange Offer of an
Initial Security for an Exchange Note, the date on which such Exchange Note is
sold to a purchaser who receives from such broker-dealer on or prior to the date
of such sale a copy of the prospectus contained in the Exchange Offer
Registration Statement, (iii) the date on which such Security has been
effectively registered under the Securities Act and disposed of in accordance
with the Shelf Registration Statement or (iv) the

                                       13

<PAGE>

date on which such Security is distributed to the public pursuant to Rule 144
under the Securities Act or is saleable pursuant to Rule 144(k) under the
Securities Act.

     7.  Rules 144 and 144A. The Company shall use its best efforts upon the
request of any Holder of Securities, to make publicly available any information
so long as necessary to permit sales of their securities pursuant to Rules 144
and 144A. The Company covenants that it will take such further action as any
Holder of Securities may reasonably request, all to the extent required from
time to time to enable such Holder to sell Securities without registration under
the Securities Act within the limitation of the exemptions provided by Rules 144
and 144A (including the requirements of Rule 144A(d)(4)). The Company will
provide a copy of this Agreement to prospective purchasers of Offered Securities
identified to the Company by the Initial Purchasers upon request. Upon the
request of any Holder of Offered Securities, the Company shall deliver to such
Holder a written statement as to whether it has complied with such requirements.
Notwithstanding the foregoing, nothing in this Section 7 shall be deemed to
require the Company to register any of its securities pursuant to the Exchange
Act.

     8.  Underwritten Registrations. If any of the Transfer Restricted
Securities covered by any Shelf Registration are to be sold in an underwritten
offering, the investment banker or investment bankers and manager or managers
that will administer the offering ("Managing Underwriters") will be selected by
the Holders of a majority in aggregate principal amount of such Transfer
Restricted Securities to be included in such offering.

     No person may participate in any underwritten registration hereunder unless
such person (i) agrees to sell such person's Transfer Restricted Securities on
the basis reasonably provided in any underwriting arrangements approved by the
persons entitled hereunder to approve such arrangements and (ii) completes and
executes all questionnaires, powers of attorney, indemnities, underwriting
agreements and other documents reasonably required under the terms of such
underwriting arrangements.

     9.  Miscellaneous.

     (a)  Remedies. The Company acknowledges and agrees that any failure by the
Company to comply with its obligations under Section 1 and 2 hereof may result
in material irreparable injury to the Initial Purchasers or the Holders for
which there is no adequate remedy at law, that it will not be possible to
measure damages for such injuries precisely and that, in the event of any such
failure, the Initial Purchasers or any Holder may obtain such relief as may be
required to specifically enforce the Company's obligations under Sections 1 and
2 hereof. The Company further agrees to waive the defense in any action for
specific performance that a remedy at law would be adequate.

     (b)  No Inconsistent Agreements. The Company will not on or after the date
of this Agreement enter into any agreement with respect to its securities that
is inconsistent with the rights granted to the Holders in this Agreement or
otherwise conflicts with the provisions hereof. The rights granted to the
Holders hereunder do not in any way conflict with and are not inconsistent with
the rights granted to the holders of the Company's securities under any
agreement (other than the registration rights agreement entered into by the
Company in connection with the issuance of the Company's 12% senior subordinated
notes due 2025) in effect on the date hereof.

     (c)  Amendments and Waivers. The provisions of this Agreement may not be
amended, modified or supplemented, and waivers or consents to departures from
the provisions hereof may not be given, except by the Company and the written
consent of the Holders of a majority in principal amount of the Securities
affected by such amendment, modification, supplement, waiver or consents.

                                       14

<PAGE>

     (d)  Notices. All notices and other communications provided for or
permitted hereunder shall be made in writing by hand delivery, first-class mail,
facsimile transmission, or air courier which guarantees overnight delivery:

               (1)  if to a Holder of the Securities, at the most current
address given by such Holder to the Company.

               (2)  if to the Initial Purchasers;

                         Credit Suisse First Boston Corporation
                         Eleven Madison Avenue
                         New York, NY 10010-3629
                         Fax No.:   (212) 325-8278
                         Attention: Transactions Advisory Group

     with a copy to:

                         Latham & Watkins
                         885 Third Avenue, Suite 1000
                         New York, NY 10022
                         Fax No.:   (212) 751-4864
                         Attention: Marc D. Jaffe, Esq.

               (3)  if to the Company, at its address as follows:

                         Icon Health & Fitness, Inc.
                         1500 South 1000 West,
                         Logan, UT 84321
                         Fax No.:   (435) 750-3679
                         Attention: Brad Bearnson, Esq.

     with a copy to:

                         Hutchins, Wheeler & Dittmar
                         101 Federal Street
                         Boston, MA 02110
                         Fax No.:   (617) 951-1295
                         Attention: David T. Dinwoodey, Esq.

     All such notices and communications shall be deemed to have been duly
given: at the time delivered by hand, if personally delivered; three business
days after being deposited in the mail, postage prepaid, if mailed; when receipt
is acknowledged by recipient's facsimile machine operator, if sent by facsimile
transmission; and on the day delivered, if sent by overnight air courier
guaranteeing next day delivery.

                                       15

<PAGE>

     (e)  Third Party Beneficiaries. The Holders shall be third party
beneficiaries to the agreements made hereunder between the Company, on the one
hand, and the Initial Purchasers, on the other hand, and shall have the right to
enforce such agreements directly to the extent they may deem such enforcement
necessary or advisable to protect their rights or the rights of Holders
hereunder.

     (f)  Successors and Assigns. This Agreement shall be binding upon the
Company and its successors and assigns.

     (g)  Counterparts. This Agreement may be executed in any number of
counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement.

     (h)  Headings. The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.

     (i)  Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES
OF CONFLICTS OF LAWS.

     (j)  Severability. If any one or more of the provisions contained herein,
or the application thereof in any circumstance, is held invalid, illegal or
unenforceable, the validity, legality and enforceability of any such provision
in every other respect and of the remaining provisions contained herein shall
not be affected or impaired thereby.

     (k)  Securities Held by the Company. Whenever the consent or approval of
Holders of a specified percentage of principal amount of Securities is required
hereunder, Securities held by the Company or its affiliates (other than
subsequent Holders of Securities if such subsequent Holders are deemed to be
affiliates solely by reason of their holdings of such Securities) shall not be
counted in determining whether such consent or approval was given by the Holders
of such required percentage.

     If the foregoing is in accordance with your understanding of our agreement,
please sign and return to the Issuer a counterpart hereof, whereupon this
instrument, along with all counterparts, will become a binding agreement among
the several Initial Purchasers, the Issuer and the Guarantors in accordance with
its terms.

                  [Remainder of page intentionally left blank.]

                                       16

<PAGE>

                              Very truly yours,

                                   ICON HEALTH & FITNESS, INC.

                                   By: /s/ Brad H. Bearnson
                                       ------------------------------
                                       Name:  Brad H. Bearnson
                                       Title: Sec.

                                   GUARANTORS:

                                   JUMPKING, INC.

                                   By: /s/ Brad H. Bearnson
                                       ------------------------------
                                       Name:  Brad H. Bearnson
                                       Title: Sec.

                                   UNIVERSAL TECHNICAL SERVICES

                                   By: /s/ Brad H. Bearnson
                                       ------------------------------
                                       Name:  Brad H. Bearnson
                                       Title: Sec.

                                   ICON INTERNATIONAL HOLDINGS, INC.

                                   By: /s/ Brad H. Bearnson
                                       ------------------------------
                                       Name:  Brad H. Bearnson
                                       Title: Sec.

                                   ICON IP, INC.

                                   By: /s/ Brad H. Bearnson
                                       ------------------------------
                                       Name:  Brad H. Bearnson
                                       Title: Sec.

<PAGE>

                                   FREE MOTION FITNESS, INC.

                                   By: /s/ Brad H. Bearnson
                                       ---------------------------------
                                       Name:  Brad H. Bearnson
                                       Title: Sec.

                                   NORDICTRACK, INC.

                                   By: /s/ Brad H. Bearnson
                                       ---------------------------------
                                       Name:  Brad H. Bearnson
                                       Title: Sec.

                                   510152 N.B. LTD.

                                   By: /s/ Brad H. Bearnson
                                       ---------------------------------
                                       Name:  Brad H. Bearnson
                                       Title: Sec.

                                   ICON DU CANADA INC.

                                   By: /s/ Brad H. Bearnson
                                       ---------------------------------
                                       Name:  Brad H. Bearnson
                                       Title: Sec.

<PAGE>

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

Credit Suisse First Boston Corporation,

By: /s/ M.W. Filipski
    ---------------------------
    Name:  M.W. Filipski
    Title: Managing Director

Acting on behalf of itself and as the
Representative of the several Initial Purchasers

<PAGE>

                                                                         ANNEX A

     Each broker-dealer that receives Exchange Notes for its own account
pursuant to the Exchange Offer must acknowledge that it will deliver a
prospectus in connection with any resale of such Exchange Notes. The Letter of
Transmittal states that by so acknowledging and by delivering a prospectus, a
broker-dealer will not be deemed to admit that it is an "underwriter" within the
meaning of the Securities Act. This Prospectus, as it may be amended or
supplemented from time to time, may be used by a broker-dealer in connection
with resales of Exchange Notes received in exchange for Offered Securities where
such Offered Securities were acquired by such broker-dealer as a result of
market-making activities or other trading activities. The Company has agreed
that, for a period of 180 days after the Expiration Date (as defined herein), it
will make this Prospectus available to any broker-dealer for use in connection
with any such resale. See "Plan of Distribution."

<PAGE>

                                                                         ANNEX B

     Each broker-dealer that receives Exchange Notes for its own account in
exchange for Offered Securities, where such Offered Securities were acquired by
such broker-dealer as a result of market-making activities or other trading
activities, must acknowledge that it will deliver a prospectus in connection
with any resale of such Exchange Notes. See "Plan of Distribution."

<PAGE>

                                                                         ANNEX C

                              Plan of Distribution

     Each broker-dealer that receives Exchange Notes for its own account
pursuant to the Exchange Offer must acknowledge that it will deliver a
prospectus (the "Prospectus") in connection with any resale of such Exchange
Notes. This Prospectus, as it may be amended or supplemented from time to time,
may be used by a broker-dealer in connection with resales of Exchange Notes
received in exchange for Offered Securities where such Offered Securities were
acquired as a result of market-making activities or other trading activities.
The Company has agreed that, for a period of 180 days after the Expiration Date,
it will make this prospectus, as amended or supplemented, available to any
broker-dealer for use in connection with any such resale. In addition, until
[ ], 200[ ], all dealers effecting transactions in the Exchange Notes may be
required to deliver a prospectus./(1)/

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

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

________________________
/(1)/ In addition, the legend required by item 502(e) of Regulation S-K will
appear on the back cover page of the Exchange Offer prospectus.

<PAGE>

                                                                         ANNEX D

[ ] CHECK HERE IF YOU ARE A BROKER-DEALER AND WISH TO RECEIVE 10 ADDITIONAL
COPIES OF THE PROSPECTUS AND 10 COPIES OF ANY AMENDMENTS OR SUPPLEMENTS THERETO.

           Name:      ______________________________________________
           Address:   ______________________________________________

If the undersigned is not a broker-dealer, the undersigned represents that it is
not engaged in, and does not intend to engage in, a distribution of Exchange
Notes. If the undersigned is a broker-dealer that will receive Exchange Notes
for its own account in exchange for Offered Securities that were acquired as a
result of market-making activities or other trading activities, it acknowledges
that it will deliver a prospectus in connection with any resale of such Exchange
Notes; however, by so acknowledging and by delivering a prospectus, the
undersigned will not be deemed to admit that it is an "underwriter" within the
meaning of the Securities Act.

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